American Century Investments®
Quarterly Portfolio Holdings
VP Inflation Protection Fund
September 30, 2019
| VP Inflation Protection - Schedule of Investments | |
SEPTEMBER 30, 2019 (UNAUDITED) | |
| Shares/ Principal Amount ($) | Value ($) | ||||
| U.S. TREASURY SECURITIES — 54.4% | |||||
U.S. Treasury Inflation Indexed Bonds, 2.00%, 1/15/26(1) | 15,030,223 | 16,710,612 | |||
| U.S. Treasury Inflation Indexed Bonds, 2.375%, 1/15/27 | 5,704,859 | 6,598,305 | |||
| U.S. Treasury Inflation Indexed Bonds, 1.75%, 1/15/28 | 17,153,148 | 19,312,166 | |||
| U.S. Treasury Inflation Indexed Bonds, 3.625%, 4/15/28 | 3,483,559 | 4,477,542 | |||
| U.S. Treasury Inflation Indexed Bonds, 2.50%, 1/15/29 | 8,932,775 | 10,809,584 | |||
| U.S. Treasury Inflation Indexed Bonds, 2.125%, 2/15/40 | 7,181,713 | 9,575,097 | |||
| U.S. Treasury Inflation Indexed Bonds, 2.125%, 2/15/41 | 4,904,359 | 6,598,099 | |||
| U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/42 | 23,715,426 | 25,136,572 | |||
| U.S. Treasury Inflation Indexed Bonds, 0.625%, 2/15/43 | 15,155,853 | 15,577,264 | |||
| U.S. Treasury Inflation Indexed Bonds, 1.375%, 2/15/44 | 19,980,972 | 23,990,750 | |||
| U.S. Treasury Inflation Indexed Bonds, 0.75%, 2/15/45 | 9,588,128 | 10,100,010 | |||
| U.S. Treasury Inflation Indexed Bonds, 1.00%, 2/15/46 | 2,165,660 | 2,419,020 | |||
| U.S. Treasury Inflation Indexed Bonds, 0.875%, 2/15/47 | 1,913,184 | 2,082,779 | |||
| U.S. Treasury Inflation Indexed Bonds, 1.00%, 2/15/49 | 3,008,869 | 3,408,688 | |||
| U.S. Treasury Inflation Indexed Notes, 0.375%, 7/15/23 | 33,295,500 | 33,520,037 | |||
| U.S. Treasury Inflation Indexed Notes, 0.625%, 1/15/24 | 20,562,520 | 20,901,555 | |||
| U.S. Treasury Inflation Indexed Notes, 0.25%, 1/15/25 | 25,456,375 | 25,549,552 | |||
U.S. Treasury Inflation Indexed Notes, 0.375%, 7/15/25(1) | 27,805,344 | 28,211,653 | |||
| U.S. Treasury Inflation Indexed Notes, 0.625%, 1/15/26 | 8,260,394 | 8,481,248 | |||
| U.S. Treasury Inflation Indexed Notes, 0.125%, 7/15/26 | 17,661,270 | 17,648,461 | |||
| U.S. Treasury Inflation Indexed Notes, 0.375%, 7/15/27 | 15,732,900 | 16,008,754 | |||
| U.S. Treasury Inflation Indexed Notes, 0.50%, 1/15/28 | 14,146,176 | 14,498,314 | |||
| U.S. Treasury Inflation Indexed Notes, 0.75%, 7/15/28 | 664,385 | 698,870 | |||
| U.S. Treasury Inflation Indexed Notes, 0.25%, 7/15/29 | 12,838,912 | 12,985,002 | |||
TOTAL U.S. TREASURY SECURITIES (Cost $313,800,339) | 335,299,934 | ||||
| CORPORATE BONDS — 10.5% | |||||
| Aerospace and Defense — 0.1% | |||||
| Lockheed Martin Corp., 3.80%, 3/1/45 | 300,000 | 335,122 | |||
| Automobiles — 0.3% | |||||
| Ford Motor Co., 4.35%, 12/8/26 | 180,000 | 180,433 | |||
| Ford Motor Credit Co. LLC, MTN, 4.39%, 1/8/26 | 470,000 | 468,192 | |||
| General Motors Co., 5.15%, 4/1/38 | 1,140,000 | 1,153,129 | |||
| 1,801,754 | |||||
| Banks — 2.2% | |||||
| Bank of America Corp., MTN, 3.30%, 1/11/23 | 720,000 | 744,820 | |||
| Bank of America Corp., MTN, VRN, 4.44%, 1/20/48 | 775,000 | 925,984 | |||
| Citigroup, Inc., 2.35%, 8/2/21 | 362,000 | 363,766 | |||
| Citigroup, Inc., 4.05%, 7/30/22 | 760,000 | 795,920 | |||
| Citigroup, Inc., 3.20%, 10/21/26 | 1,100,000 | 1,136,587 | |||
| Citigroup, Inc., VRN, 4.08%, 4/23/29 | 530,000 | 579,163 | |||
| Cooperatieve Rabobank UA, 3.95%, 11/9/22 | 250,000 | 260,558 | |||
| Credit Suisse AG (New York), MTN, 3.625%, 9/9/24 | 500,000 | 529,405 | |||
| Discover Bank, 3.45%, 7/27/26 | 450,000 | 464,481 | |||
| HSBC Holdings plc, 2.95%, 5/25/21 | 600,000 | 606,335 | |||
| HSBC Holdings plc, 4.30%, 3/8/26 | 450,000 | 487,681 | |||
| HSBC Holdings plc, 4.375%, 11/23/26 | 400,000 | 429,317 | |||
| HSBC Holdings plc, VRN, 4.04%, 3/13/28 | 470,000 | 499,261 | |||
| Huntington Bancshares, Inc., 2.30%, 1/14/22 | 400,000 | 402,311 | |||
| JPMorgan Chase & Co., 4.50%, 1/24/22 | 1,249,000 | 1,319,099 | |||
| JPMorgan Chase & Co., VRN, 3.90%, 1/23/49 | 700,000 | 778,914 | |||
| U.S. Bancorp, MTN, 3.60%, 9/11/24 | 799,000 | 850,859 | |||
| Wells Fargo & Co., 4.125%, 8/15/23 | 280,000 | 297,287 | |||
| Wells Fargo & Co., 3.00%, 4/22/26 | 300,000 | 307,923 | |||
| Wells Fargo & Co., MTN, 3.55%, 9/29/25 | 375,000 | 397,050 | |||
| Wells Fargo & Co., MTN, 4.10%, 6/3/26 | 560,000 | 600,721 | |||
| Wells Fargo & Co., MTN, 4.75%, 12/7/46 | 740,000 | 877,337 | |||
| 13,654,779 | |||||
| Biotechnology — 0.2% | |||||
| AbbVie, Inc., 2.90%, 11/6/22 | 7,000 | 7,139 | |||
| AbbVie, Inc., 4.45%, 5/14/46 | 590,000 | 612,565 | |||
| Amgen, Inc., 3.625%, 5/22/24 | 450,000 | 477,085 | |||
| Celgene Corp., 3.625%, 5/15/24 | 150,000 | 158,514 | |||
| Gilead Sciences, Inc., 3.65%, 3/1/26 | 300,000 | 321,718 | |||
| 1,577,021 | |||||
| Capital Markets — 0.5% | |||||
| Goldman Sachs Group, Inc. (The), 2.30%, 12/13/19 | 570,000 | 570,076 | |||
| Goldman Sachs Group, Inc. (The), 3.75%, 5/22/25 | 1,500,000 | 1,589,731 | |||
| Goldman Sachs Group, Inc. (The), 3.50%, 11/16/26 | 400,000 | 416,402 | |||
| Morgan Stanley, MTN, 3.875%, 1/27/26 | 170,000 | 182,539 | |||
| Morgan Stanley, MTN, VRN, 3.77%, 1/24/29 | 300,000 | 320,871 | |||
| 3,079,619 | |||||
| Chemicals — 0.1% | |||||
| Dow Chemical Co. (The), 3.50%, 10/1/24 | 300,000 | 313,239 | |||
| Westlake Chemical Corp., 4.375%, 11/15/47 | 300,000 | 295,565 | |||
| 608,804 | |||||
| Commercial Services and Supplies — 0.1% | |||||
| Waste Management, Inc., 4.15%, 7/15/49 | 360,000 | 421,485 | |||
| Consumer Finance — 0.2% | |||||
| Capital One Financial Corp., 3.75%, 3/9/27 | 670,000 | 705,255 | |||
| Discover Financial Services, 3.75%, 3/4/25 | 300,000 | 314,066 | |||
| 1,019,321 | |||||
| Diversified Telecommunication Services — 0.8% | |||||
| AT&T, Inc., 4.05%, 12/15/23 | 200,000 | 214,068 | |||
| AT&T, Inc., 4.45%, 4/1/24 | 300,000 | 324,731 | |||
| AT&T, Inc., 3.40%, 5/15/25 | 768,000 | 802,555 | |||
| AT&T, Inc., 2.95%, 7/15/26 | 300,000 | 304,744 | |||
| AT&T, Inc., 3.80%, 2/15/27 | 700,000 | 742,894 | |||
| AT&T, Inc., 4.80%, 6/15/44 | 350,000 | 388,758 | |||
| AT&T, Inc., 5.15%, 11/15/46 | 200,000 | 232,357 | |||
Deutsche Telekom International Finance BV, 3.60%, 1/19/27(2) | 800,000 | 845,602 | |||
| Verizon Communications, Inc., 2.625%, 8/15/26 | 200,000 | 202,767 | |||
| Verizon Communications, Inc., 5.01%, 8/21/54 | 570,000 | 719,009 | |||
| 4,777,485 | |||||
| Electric Utilities — 0.6% | |||||
| AEP Transmission Co. LLC, 3.75%, 12/1/47 | 300,000 | 328,049 | |||
| American Electric Power Co., Inc., 3.20%, 11/13/27 | 300,000 | 313,470 | |||
| Duke Energy Corp., 3.15%, 8/15/27 | 200,000 | 208,044 | |||
| Exelon Generation Co. LLC, 5.60%, 6/15/42 | 795,000 | 947,677 | |||
| FirstEnergy Corp., 4.85%, 7/15/47 | 600,000 | 714,127 | |||
| NextEra Energy Capital Holdings, Inc., 3.55%, 5/1/27 | 400,000 | 424,400 | |||
| Southern Co. Gas Capital Corp., 3.95%, 10/1/46 | 300,000 | 315,681 | |||
| Southwestern Public Service Co., 3.70%, 8/15/47 | 500,000 | 544,610 | |||
| Virginia Electric & Power Co., 3.45%, 2/15/24 | 100,000 | 104,698 | |||
| 3,900,756 | |||||
| Energy Equipment and Services — 0.1% | |||||
| Halliburton Co., 4.85%, 11/15/35 | 735,000 | 817,082 | |||
| Entertainment — 0.2% | |||||
| Viacom, Inc., 4.25%, 9/1/23 | 840,000 | 891,358 | |||
| Viacom, Inc., 4.375%, 3/15/43 | 150,000 | 154,891 | |||
Walt Disney Co. (The), 4.75%, 9/15/44(2) | 150,000 | 194,762 | |||
| 1,241,011 | |||||
| Equity Real Estate Investment Trusts (REITs) — 0.2% | |||||
| Boston Properties LP, 3.65%, 2/1/26 | 150,000 | 158,886 | |||
| Essex Portfolio LP, 3.625%, 8/15/22 | 250,000 | 258,784 | |||
| Kilroy Realty LP, 3.80%, 1/15/23 | 301,000 | 314,635 | |||
| Ventas Realty LP / Ventas Capital Corp., 3.25%, 8/15/22 | 468,000 | 480,617 | |||
| 1,212,922 | |||||
| Food and Staples Retailing — 0.2% | |||||
| Kroger Co. (The), 3.875%, 10/15/46 | 600,000 | 573,805 | |||
| Walmart, Inc., 4.05%, 6/29/48 | 650,000 | 781,940 | |||
| 1,355,745 | |||||
| Health Care Equipment and Supplies — 0.1% | |||||
| Becton Dickinson and Co., 3.70%, 6/6/27 | 444,000 | 470,814 | |||
| Medtronic, Inc., 3.50%, 3/15/25 | 45,000 | 48,340 | |||
| 519,154 | |||||
| Health Care Providers and Services — 0.6% | |||||
| Aetna, Inc., 2.75%, 11/15/22 | 406,000 | 411,018 | |||
| Anthem, Inc., 4.65%, 1/15/43 | 300,000 | 332,494 | |||
| Cigna Corp., 4.90%, 12/15/48 | 300,000 | 344,545 | |||
| CVS Health Corp., 2.75%, 12/1/22 | 1,159,000 | 1,173,937 | |||
| CVS Health Corp., 4.78%, 3/25/38 | 260,000 | 287,084 | |||
| CVS Health Corp., 5.05%, 3/25/48 | 320,000 | 364,488 | |||
| Duke University Health System, Inc., 3.92%, 6/1/47 | 467,000 | 543,223 | |||
| Express Scripts Holding Co., 4.50%, 2/25/26 | 200,000 | 218,785 | |||
| Northwell Healthcare, Inc., 4.26%, 11/1/47 | 320,000 | 358,173 | |||
| 4,033,747 | |||||
| Hotels, Restaurants and Leisure — 0.1% | |||||
| McDonald's Corp., MTN, 3.25%, 6/10/24 | 350,000 | 368,567 | |||
| Insurance — 0.2% | |||||
| American International Group, Inc., 4.50%, 7/16/44 | 350,000 | 390,237 | |||
| Markel Corp., 3.50%, 11/1/27 | 300,000 | 307,034 | |||
| Prudential Financial, Inc., 3.94%, 12/7/49 | 451,000 | 488,044 | |||
| Prudential Financial, Inc., MTN, VRN, 3.75%, (CPI YoY plus 2.00%), 11/2/20 | 189,000 | 186,742 | |||
| 1,372,057 | |||||
| IT Services — 0.1% | |||||
| Fidelity National Information Services, Inc., 3.00%, 8/15/26 | 400,000 | 412,388 | |||
| Life Sciences Tools and Services — 0.1% | |||||
| Thermo Fisher Scientific, Inc., 2.95%, 9/19/26 | 500,000 | 515,523 | |||
| Media — 0.7% | |||||
| CBS Corp., 3.70%, 6/1/28 | 250,000 | 260,856 | |||
| Charter Communications Operating LLC / Charter Communications Operating Capital, 6.48%, 10/23/45 | 960,000 | 1,171,432 | |||
| Comcast Corp., 4.25%, 10/15/30 | 1,920,000 | 2,187,186 | |||
| Comcast Corp., 6.50%, 11/15/35 | 556,000 | 779,811 | |||
| 4,399,285 | |||||
| Multi-Utilities — 0.2% | |||||
| Dominion Energy, Inc., 4.90%, 8/1/41 | 550,000 | 652,033 | |||
| Sempra Energy, 3.25%, 6/15/27 | 350,000 | 359,829 | |||
| Sempra Energy, 3.80%, 2/1/38 | 350,000 | 361,401 | |||
| 1,373,263 | |||||
| Oil, Gas and Consumable Fuels — 1.4% | |||||
| Cimarex Energy Co., 4.375%, 6/1/24 | 200,000 | 210,305 | |||
| Enbridge, Inc., 3.50%, 6/10/24 | 190,000 | 198,577 | |||
| Enbridge, Inc., 3.70%, 7/15/27 | 400,000 | 423,048 | |||
| Energy Transfer Operating LP, 3.60%, 2/1/23 | 312,000 | 320,712 | |||
| Energy Transfer Operating LP, 5.30%, 4/15/47 | 770,000 | 829,671 | |||
| Enterprise Products Operating LLC, 4.85%, 3/15/44 | 250,000 | 287,617 | |||
| Hess Corp., 6.00%, 1/15/40 | 410,000 | 476,043 | |||
| Kinder Morgan Energy Partners LP, 5.30%, 9/15/20 | 500,000 | 514,384 | |||
| Magellan Midstream Partners LP, 5.15%, 10/15/43 | 350,000 | 414,002 | |||
| MPLX LP, 4.50%, 4/15/38 | 300,000 | 311,647 | |||
| MPLX LP, 5.20%, 3/1/47 | 400,000 | 442,793 | |||
| Noble Energy, Inc., 4.15%, 12/15/21 | 874,000 | 908,176 | |||
| Petroleos Mexicanos, 3.50%, 1/30/23 | 331,000 | 330,834 | |||
| Petroleos Mexicanos, 4.875%, 1/18/24 | 700,000 | 721,875 | |||
| Plains All American Pipeline LP / PAA Finance Corp., 3.65%, 6/1/22 | 437,000 | 448,437 | |||
| Sabine Pass Liquefaction LLC, 5.625%, 3/1/25 | 950,000 | 1,068,249 | |||
| Sunoco Logistics Partners Operations LP, 3.45%, 1/15/23 | 187,000 | 191,197 | |||
| Williams Cos., Inc. (The), 4.30%, 3/4/24 | 600,000 | 638,554 | |||
| 8,736,121 | |||||
| Pharmaceuticals — 0.2% | |||||
| Allergan Funding SCS, 3.85%, 6/15/24 | 350,000 | 369,575 | |||
| Allergan Funding SCS, 4.55%, 3/15/35 | 430,000 | 457,495 | |||
Bristol-Myers Squibb Co., 4.25%, 10/26/49(2) | 250,000 | 291,558 | |||
| Shire Acquisitions Investments Ireland DAC, 3.20%, 9/23/26 | 340,000 | 351,161 | |||
| 1,469,789 | |||||
| Road and Rail — 0.2% | |||||
| Burlington Northern Santa Fe LLC, 3.75%, 4/1/24 | 300,000 | 320,254 | |||
| Burlington Northern Santa Fe LLC, 3.00%, 4/1/25 | 320,000 | 335,044 | |||
| Burlington Northern Santa Fe LLC, 4.95%, 9/15/41 | 250,000 | 310,807 | |||
| Union Pacific Corp., 2.75%, 4/15/23 | 150,000 | 153,251 | |||
| 1,119,356 | |||||
| Software — 0.2% | |||||
| Microsoft Corp., 3.45%, 8/8/36 | 660,000 | 730,638 | |||
| Oracle Corp., 2.50%, 10/15/22 | 200,000 | 203,156 | |||
| Oracle Corp., 2.65%, 7/15/26 | 350,000 | 357,537 | |||
| 1,291,331 | |||||
| Technology Hardware, Storage and Peripherals — 0.5% | |||||
| Apple, Inc., 3.20%, 5/11/27 | 1,050,000 | 1,114,656 | |||
| Apple, Inc., 2.90%, 9/12/27 | 1,000,000 | 1,043,066 | |||
Dell International LLC / EMC Corp., 6.02%, 6/15/26(2) | 790,000 | 891,548 | |||
| 3,049,270 | |||||
| Trading Companies and Distributors — 0.1% | |||||
| International Lease Finance Corp., 5.875%, 8/15/22 | 400,000 | 438,405 | |||
TOTAL CORPORATE BONDS (Cost $60,722,651) | 64,901,162 | ||||
| U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 9.9% | |||||
| FHLMC, 4.50%, 4/1/41 | 7,579,083 | 8,219,712 | |||
| FHLMC, 3.00%, 7/1/49 | 39,061,583 | 39,678,466 | |||
| FNMA, 4.50%, 5/1/39 | 2,134,321 | 2,322,991 | |||
| FNMA, 4.00%, 11/1/41 | 1,094,323 | 1,169,777 | |||
| FNMA, 4.00%, 11/1/41 | 516,926 | 552,109 | |||
| FNMA, 4.00%, 2/1/42 | 717,893 | 752,781 | |||
| FNMA, 4.00%, 2/1/46 | 8,259,702 | 8,706,078 | |||
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $60,958,271) | 61,401,914 | ||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES — 7.4% | |||||
| Commercial Mortgage Pass-Through Certificates, Series 2014-CR15, Class AM, VRN, 4.43%, 2/10/47 | 2,000,000 | 2,171,046 | |||
| Commercial Mortgage Pass-Through Certificates, Series 2014-UBS5, Class AM, VRN, 4.19%, 9/10/47 | 1,700,000 | 1,818,529 | |||
| Commercial Mortgage Pass-Through Certificates, Series 2015-CR22, Class AM, VRN, 3.60%, 3/10/48 | 1,475,000 | 1,558,873 | |||
| Commercial Mortgage Pass-Through Certificates, Series 2016-CR28, Class B, VRN, 4.80%, 2/10/49 | 2,000,000 | 2,212,397 | |||
Commercial Mortgage Trust, Series 2015-3BP, Class A, SEQ, 3.18%, 2/10/35(2) | 4,000,000 | 4,191,002 | |||
| Commercial Mortgage Trust, Series 2016-CD1, Class AM, 2.93%, 8/10/49 | 2,000,000 | 2,048,952 | |||
| Commercial Mortgage Trust, Series 2016-CD2, Class A4 SEQ, VRN, 3.53%, 11/10/49 | 1,550,000 | 1,673,579 | |||
Commercial Mortgage Trust, Series 2017-PANW, Class A SEQ, 3.24%, 10/10/29(2) | 1,500,000 | 1,564,720 | |||
Core Industrial Trust, Series 2015-TEXW, Class B, 3.33%, 2/10/34(2) | 1,450,000 | 1,480,140 | |||
Core Industrial Trust, Series 2015-WEST, Class A SEQ, 3.29%, 2/10/37(2) | 1,962,850 | 2,118,715 | |||
| GS Mortgage Securities Trust, Series 2016-GS2, Class B, VRN, 3.76%, 5/10/49 | 1,500,000 | 1,591,943 | |||
Hudson Yards Mortgage Trust, Series 2016-10HY, Class B, VRN, 3.08%, 8/10/38(2) | 2,515,000 | 2,592,988 | |||
| JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A4 SEQ, 3.41%, 3/15/50 | 1,860,000 | 1,988,232 | |||
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C16, Class A4 SEQ, 4.17%, 12/15/46 | 1,455,000 | 1,565,583 | |||
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP2, Class A4 SEQ, 2.82%, 8/15/49 | 1,200,000 | 1,240,909 | |||
| JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP3, Class AS, 3.14%, 8/15/49 | 1,400,000 | 1,446,962 | |||
| Morgan Stanley Bank of America Merrill Lynch Trust, Series 2017-C34, Class A3 SEQ, 3.28%, 11/15/52 | 2,300,000 | 2,447,805 | |||
Morgan Stanley Capital I Trust, Series 2014-CPT, Class AM, VRN, 3.52%, 7/13/29(2) | 2,500,000 | 2,539,497 | |||
Morgan Stanley Capital I Trust, Series 2014-CPT, Class C, VRN, 3.56%, 7/13/29(2) | 1,600,000 | 1,620,923 | |||
| Morgan Stanley Capital I Trust, Series 2016-UB11, Class A4 SEQ, 2.78%, 8/15/49 | 3,350,000 | 3,434,470 | |||
UBS Commercial Mortgage Trust, Series 2019-C17, Class AS, 3.20%, 9/15/52(3) | 4,500,000 | 4,638,516 | |||
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (Cost $44,976,771) | 45,945,781 | ||||
| ASSET-BACKED SECURITIES — 7.0% | |||||
Avis Budget Rental Car Funding AESOP LLC, Series 2015-1A, Class A SEQ, 2.50%, 7/20/21(2) | 2,700,000 | 2,702,415 | |||
Avis Budget Rental Car Funding AESOP LLC, Series 2016-1A, Class A SEQ, 2.99%, 6/20/22(2) | 3,440,000 | 3,478,594 | |||
BRE Grand Islander Timeshare Issuer LLC, Series 2017-1A, Class A SEQ, 2.94%, 5/25/29(2) | 640,340 | 646,396 | |||
Hertz Vehicle Financing II LP, Series 2015-1A, Class A SEQ, 2.73%, 3/25/21(2) | 6,700,000 | 6,710,168 | |||
Hilton Grand Vacations Trust, Series 2014-AA, Class A SEQ, 1.77%, 11/25/26(2) | 316,205 | 315,003 | |||
Hilton Grand Vacations Trust, Series 2017-AA, Class A SEQ, 2.66%, 12/26/28(2) | 2,309,991 | 2,317,098 | |||
Hilton Grand Vacations Trust, Series 2019-AA, Class B, 2.54%, 7/25/33(2) | 3,114,187 | 3,113,676 | |||
| Honda Auto Receivables Owner Trust, Series 2019-1, Class A3 SEQ, 2.83%, 3/20/23 | 4,000,000 | 4,071,757 | |||
MVW Owner Trust, Series 2016-1A, Class A SEQ, 2.25%, 12/20/33(2) | 443,762 | 441,216 | |||
Progress Residential Trust, Series 2019-SFR1, Class A SEQ, 3.42%, 8/17/35(2) | 3,600,000 | 3,706,742 | |||
Progress Residential Trust, Series 2019-SFR3, Class A SEQ, 2.27%, 9/17/36(2) | 1,950,000 | 1,930,307 | |||
Progress Residential Trust, Series 2019-SFR4, Class B, 2.94%, 11/17/36(2)(3) | 3,900,000 | 3,899,975 | |||
Sierra Timeshare Receivables Funding LLC, Series 2015-1A, Class A SEQ, 2.40%, 3/22/32(2) | 158,435 | 158,386 | |||
Sierra Timeshare Receivables Funding LLC, Series 2016-1A, Class A SEQ, 3.08%, 3/21/33(2) | 352,892 | 355,179 | |||
Sierra Timeshare Receivables Funding LLC, Series 2019-1A, Class A SEQ, 3.20%, 1/20/36(2) | 1,630,123 | 1,652,765 | |||
Towd Point Mortgage Trust, Series 2016-1, Class A1, VRN, 3.50%, 2/25/55(2) | 596,403 | 605,008 | |||
Towd Point Mortgage Trust, Series 2017-2, Class A1, VRN, 2.75%, 4/25/57(2) | 1,123,207 | 1,133,129 | |||
| Verizon Owner Trust, Series 2019-A, Class A1A SEQ, 2.93%, 9/20/23 | 4,800,000 | 4,888,802 | |||
VSE VOI Mortgage LLC, Series 2017-A, Class A SEQ, 2.33%, 3/20/35(2) | 1,292,807 | 1,292,086 | |||
TOTAL ASSET-BACKED SECURITIES (Cost $42,995,282) | 43,418,702 | ||||
| COLLATERALIZED MORTGAGE OBLIGATIONS — 5.9% | |||||
| Private Sponsor Collateralized Mortgage Obligations — 4.7% | |||||
| ABN Amro Mortgage Corp., Series 2003-4, Class A4, 5.50%, 3/25/33 | 69,434 | 70,719 | |||
| ABN Amro Mortgage Corp., Series 2003-6, Class 1A4, 5.50%, 5/25/33 | 102,513 | 109,566 | |||
Agate Bay Mortgage Loan Trust, Series 2014-3, Class A2, VRN, 3.50%, 11/25/44(2) | 1,276,277 | 1,286,111 | |||
Agate Bay Mortgage Loan Trust, Series 2015-7, Class A3, VRN, 3.50%, 10/25/45(2) | 1,273,242 | 1,285,761 | |||
Agate Bay Mortgage Loan Trust, Series 2016-1, Class A3, VRN, 3.50%, 12/25/45(2) | 1,883,812 | 1,907,527 | |||
Agate Bay Mortgage Loan Trust, Series 2016-3, Class A3, VRN, 3.50%, 8/25/46(2) | 1,305,751 | 1,326,784 | |||
| Cendant Mort Capital LLC, Series 2003-6, Class A3, 5.25%, 7/25/33 | 236,358 | 239,196 | |||
| Countrywide Home Loan Mortgage Pass-Through Trust, Series 2004-5, Class 2A4, 5.50%, 5/25/34 | 118,726 | 121,864 | |||
Credit Suisse Mortgage Trust, Series 2015-WIN1, Class A10, VRN, 3.50%, 12/25/44(2) | 1,400,000 | 1,451,521 | |||
Credit Suisse Mortgage Trust, Series 2017-HL1, Class A3 SEQ, VRN, 3.50%, 6/25/47(2) | 1,041,026 | 1,056,183 | |||
JPMorgan Mortgage Trust, Series 2013-1, Class 2A2 SEQ, VRN, 2.50%, 3/25/43(2) | 1,068,213 | 1,069,548 | |||
JPMorgan Mortgage Trust, Series 2014-5, Class A1, VRN, 2.98%, 10/25/29(2) | 1,507,255 | 1,527,751 | |||
JPMorgan Mortgage Trust, Series 2016-1, Class A7 SEQ, VRN, 3.50%, 5/25/46(2) | 3,500,000 | 3,666,609 | |||
JPMorgan Mortgage Trust, Series 2017-1, Class A2, VRN, 3.50%, 1/25/47(2) | 3,168,967 | 3,234,344 | |||
New Residential Mortgage Loan Trust, Series 2017-2A, Class A3, VRN, 4.00%, 3/25/57(2) | 1,406,870 | 1,474,282 | |||
New Residential Mortgage Loan Trust, Series 2017-5A, Class A1, VRN, 3.52%, (1-month LIBOR plus 1.50%), 6/25/57(2) | 1,820,819 | 1,853,111 | |||
Sequoia Mortgage Trust, Series 2014-3, Class A14, SEQ, VRN, 3.00%, 10/25/44(2) | 357,794 | 359,071 | |||
Sequoia Mortgage Trust, Series 2014-4, Class A2 SEQ, VRN, 3.50%, 11/25/44(2) | 662,911 | 667,410 | |||
Sequoia Mortgage Trust, Series 2017-7, Class A7 SEQ, VRN, 3.50%, 10/25/47(2) | 1,750,000 | 1,835,060 | |||
Sequoia Mortgage Trust, Series 2017-CH1, Class A1, VRN, 4.00%, 8/25/47(2) | 1,542,565 | 1,587,977 | |||
Sequoia Mortgage Trust, Series 2018-7, Class A4 SEQ, VRN, 4.00%, 9/25/48(2) | 1,025,385 | 1,037,838 | |||
| Thornburg Mortgage Securities Trust, Series 2004-3, Class A, VRN, 2.76%, (1-month LIBOR plus 0.74%), 9/25/44 | 110,865 | 111,529 | |||
| WaMu Mortgage Pass-Through Certificates, Series 2003-S11, Class 3A5, 5.95%, 11/25/33 | 151,714 | 156,060 | |||
| Wells Fargo Mortgage-Backed Securities Trust, Series 2005-AR10, Class 1A1, VRN, 4.96%, 6/25/35 | 463,899 | 470,730 | |||
| Wells Fargo Mortgage-Backed Securities Trust, Series 2005-AR10, Class 2A15, VRN, 4.97%, 6/25/35 | 736,524 | 773,359 | |||
WinWater Mortgage Loan Trust, Series 2014-1, Class A4 SEQ, VRN, 3.50%, 6/20/44(2) | 137,109 | 138,709 | |||
| 28,818,620 | |||||
| U.S. Government Agency Collateralized Mortgage Obligations — 1.2% | |||||
| FHLMC, Series K088, Class A2 SEQ, 3.69%, 1/25/29 | 6,500,000 | 7,305,495 | |||
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $35,313,689) | 36,124,115 | ||||
| COLLATERALIZED LOAN OBLIGATIONS — 3.0% | |||||
Bean Creek CLO Ltd., Series 2015-1A, Class AR, VRN, 3.30%, (3-month LIBOR plus 1.02%), 4/20/31(2) | 2,250,000 | 2,228,280 | |||
CIFC Funding Ltd., Series 2013-3RA, Class A1, VRN, 3.26%, (3-month LIBOR plus 0.98%), 4/24/31(2) | 2,000,000 | 1,976,150 | |||
Goldentree Loan Opportunities X Ltd., Series 2015-10A, Class AR, VRN, 3.40%, (3-month LIBOR plus 1.12%), 7/20/31(2) | 1,750,000 | 1,747,839 | |||
Goldentree Loan Opportunities XI Ltd., Series 2015-11A, Class AR2, VRN, 3.37%, (3-month LIBOR plus 1.07%), 1/18/31(2) | 3,000,000 | 2,994,165 | |||
KKR CLO Ltd., Series 2022A, Class A, VRN, 3.43%, (3-month LIBOR plus 1.15%), 7/20/31(2) | 2,750,000 | 2,737,749 | |||
Magnetite VIII Ltd., Series 2014-8A, Class AR2, VRN, 3.28%, (3-month LIBOR plus 0.98%), 4/15/31(2) | 3,000,000 | 2,989,214 | |||
Sounds Point CLO IV-R Ltd., Series 2013-3RA, Class A, VRN, 3.45%, (3-month LIBOR plus 1.15%), 4/18/31(2) | 2,000,000 | 1,987,837 | |||
Treman Park CLO Ltd., Series 2015-1A, Class ARR, VRN, 3.35%, (3-month LIBOR plus 1.07%), 10/20/28(2) | 1,650,000 | 1,653,017 | |||
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $18,397,443) | 18,314,251 | ||||
| SOVEREIGN GOVERNMENTS AND AGENCIES — 1.0% | |||||
| Australia — 0.3% | |||||
| Australia Government Bond, 4.00%, 8/20/20 AUD | 1,517,000 | 1,842,824 | |||
| Canada — 0.7% | |||||
| Canadian Government Real Return Bond, 4.25%, 12/1/21 CAD | 1,935,820 | 1,584,017 | |||
| Canadian Government Real Return Bond, 4.25%, 12/1/26 CAD | 2,531,490 | 2,467,575 | |||
| 4,051,592 | |||||
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $7,823,597) | 5,894,416 | ||||
| TEMPORARY CASH INVESTMENTS — 3.7% | |||||
Crown Point Capital Co. LLC, 1.99%, 10/1/19(2)(4) $ | 23,000,000 | 22,998,749 | |||
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 3,105 | 3,105 | |||
TOTAL TEMPORARY CASH INVESTMENTS (Cost $23,003,105) | 23,001,854 | ||||
TOTAL INVESTMENT SECURITIES — 102.8% (Cost $607,991,148) | 634,302,129 | ||||
| OTHER ASSETS AND LIABILITIES — (2.8)% | (17,448,081 | ) | |||
| TOTAL NET ASSETS — 100.0% | $ | 616,854,048 | |||
| FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | ||||||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||
| USD | 1,902,038 | AUD | 2,765,836 | UBS AG | 12/18/19 | $ | 30,673 | |||
| USD | 4,134,519 | CAD | 5,444,087 | Morgan Stanley | 12/18/19 | 20,030 | ||||
| $ | 50,703 | |||||||||
| FUTURES CONTRACTS PURCHASED | ||||||||||||
| Reference Entity | Contracts | Expiration Date | Notional Amount | Underlying Contract Value | Unrealized Appreciation (Depreciation) | |||||||
| U.S. Treasury 2-Year Notes | 356 | December 2019 | $ | 71,200,000 | $ | 76,718,000 | $ | (189,063 | ) | |||
| CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS | |||||||||||||||
| Floating Rate Index | Pay/Receive Floating Rate Index | Fixed Rate | Termination Date | Notional Amount | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | Value | ||||||||
| CPURNSA | Receive | 1.78% | 6/6/24 | $ | 19,000,000 | $ | (612 | ) | $ | (155,075 | ) | $ | (155,687 | ) | |
| CPURNSA | Receive | 1.71% | 6/20/24 | $ | 12,600,000 | (567 | ) | (76,432 | ) | (76,999 | ) | ||||
| CPURNSA | Receive | 1.86% | 7/30/24 | $ | 12,500,000 | (581 | ) | (177,018 | ) | (177,599 | ) | ||||
| CPURNSA | Receive | 1.86% | 8/1/24 | $ | 13,600,000 | (590 | ) | (190,949 | ) | (191,539 | ) | ||||
| CPURNSA | Receive | 2.15% | 11/20/27 | $ | 5,000,000 | (554 | ) | (199,803 | ) | (200,357 | ) | ||||
| CPURNSA | Receive | 2.31% | 3/28/28 | $ | 11,500,000 | (530 | ) | (716,508 | ) | (717,038 | ) | ||||
| $ | (3,434 | ) | $ | (1,515,785 | ) | $ | (1,519,219 | ) | |||||||
| TOTAL RETURN SWAP AGREEMENTS | ||||||||||
| Counterparty | Floating Rate Index | Pay/Receive Floating Rate Index | Fixed Rate | Termination Date | Notional Amount | Value* | ||||
| Bank of America N.A. | CPURNSA | Receive | 2.66% | 12/4/19 | $ | 40,000,000 | $ | (4,552,420 | ) | |
| Bank of America N.A. | CPURNSA | Receive | 2.67% | 4/1/22 | $ | 5,000,000 | (731,121 | ) | ||
| Bank of America N.A. | CPURNSA | Receive | 2.53% | 8/19/24 | $ | 4,000,000 | (449,955 | ) | ||
| Bank of America N.A. | CPURNSA | Receive | 1.79% | 8/27/25 | $ | 3,000,000 | (29,170 | ) | ||
| Bank of America N.A. | CPURNSA | Receive | 2.24% | 4/11/27 | $ | 7,000,000 | (378,274 | ) | ||
| Bank of America N.A. | CPURNSA | Receive | 2.22% | 4/13/27 | $ | 1,750,000 | (90,369 | ) | ||
| Bank of America N.A. | CPURNSA | Receive | 2.24% | 4/28/27 | $ | 4,000,000 | (212,936 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 1.71% | 2/5/20 | $ | 10,000,000 | (48,004 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.59% | 7/23/24 | $ | 2,300,000 | (274,176 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.39% | 9/19/24 | $ | 6,000,000 | (571,242 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.36% | 9/29/24 | $ | 6,500,000 | (599,721 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.31% | 9/30/24 | $ | 3,600,000 | (309,780 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.90% | 12/21/27 | $ | 15,100,000 | (4,917,002 | ) | ||
| Barclays Bank plc | CPURNSA | Receive | 2.78% | 7/2/44 | $ | 3,600,000 | (1,509,413 | ) | ||
| Goldman Sachs & Co. | CPURNSA | Receive | 1.87% | 5/23/26 | $ | 33,000,000 | (128,334 | ) | ||
| Goldman Sachs & Co. | CPURNSA | Receive | 1.92% | 5/31/26 | $ | 13,000,000 | (127,777 | ) | ||
| Goldman Sachs & Co. | CPURNSA | Receive | 1.77% | 6/16/26 | $ | 12,500,000 | 70,733 | |||
| Goldman Sachs & Co. | CPURNSA | Receive | 2.25% | 11/15/26 | $ | 2,500,000 | (122,121 | ) | ||
| Goldman Sachs & Co. | CPURNSA | Receive | 2.28% | 11/16/26 | $ | 2,500,000 | (132,106 | ) | ||
| $ | (15,113,188 | ) | ||||||||
*Amount represents value and unrealized appreciation (depreciation).
| NOTES TO SCHEDULE OF INVESTMENTS | ||
| AUD | - | Australian Dollar |
| CAD | - | Canadian Dollar |
| CPI YoY | - | U.S. Consumer Price Index Urban Consumers Year over Year Not Seasonally Adjusted Index |
| CPURNSA | - | U.S. Consumer Price Index Urban Consumers Not Seasonally Adjusted Index |
| FHLMC | - | Federal Home Loan Mortgage Corporation |
| FNMA | - | Federal National Mortgage Association |
| LIBOR | - | London Interbank Offered Rate |
| MTN | - | Medium Term Note |
| SEQ | - | Sequential Payer |
| USD | - | United States Dollar |
| VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. |
| (1) | Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $17,805,042. |
| (2) | Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $120,868,195, which represented 19.6% of total net assets. |
| (3) | When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date. |
| (4) | The rate indicated is the yield to maturity at purchase. |
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The Board of Directors has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds, U.S. Treasury and Government Agency securities, convertible bonds, municipal securities, and sovereign governments and agencies are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections. Commercial paper is valued using a curve-based approach that considers money market rates for specific instruments, programs, currencies and maturity points from a variety of active market makers. Fixed income securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.
Open-end management investment companies are valued at the reported net asset value per share. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Directors or its delegate, in accordance with policies and procedures adopted by the Board of Directors. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s net asset value per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.
2. Fair Value Measurements
The fund’s investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
| • | Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments. |
| • | Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars. |
| • | Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions). |
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
| Level 1 ($) | Level 2 ($) | Level 3 ($) | ||||
| Assets | ||||||
| Investment Securities | ||||||
| U.S. Treasury Securities | — | 335,299,934 | — | |||
| Corporate Bonds | — | 64,901,162 | — | |||
| U.S. Government Agency Mortgage-Backed Securities | — | 61,401,914 | — | |||
| Commercial Mortgage-Backed Securities | — | 45,945,781 | — | |||
| Asset-Backed Securities | — | 43,418,702 | — | |||
| Collateralized Mortgage Obligations | — | 36,124,115 | — | |||
| Collateralized Loan Obligations | — | 18,314,251 | — | |||
| Sovereign Governments and Agencies | — | 5,894,416 | — | |||
| Temporary Cash Investments | 3,105 | 22,998,749 | — | |||
| 3,105 | 634,299,024 | — | ||||
| Other Financial Instruments | ||||||
| Swap Agreements | — | 70,733 | — | |||
| Forward Foreign Currency Exchange Contracts | — | 50,703 | — | |||
| — | 121,436 | — | ||||
| Liabilities | ||||||
| Other Financial Instruments | ||||||
| Futures Contracts | 189,063 | — | — | |||
| Swap Agreements | — | 16,703,140 | — | |||
| 189,063 | 16,703,140 | — | ||||
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.