American Century Investments®
Quarterly Portfolio Holdings
Avantis® Short-Term Fixed Income ETF (AVSF)
May 28, 2021
Avantis Short-Term Fixed Income ETF - Schedule of Investments | ||
MAY 28, 2021 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
CORPORATE BONDS — 54.5% | ||||||||
Aerospace and Defense — 0.9% | ||||||||
Boeing Co. (The), 2.20%, 2/4/26 | 60,000 | 60,266 | ||||||
General Dynamics Corp., 3.50%, 5/15/25 | 56,000 | 61,597 | ||||||
Huntington Ingalls Industries, Inc., 3.84%, 5/1/25 | 48,000 | 52,746 | ||||||
174,609 | ||||||||
Automobiles — 1.0% | ||||||||
American Honda Finance Corp., MTN, 1.00%, 9/10/25 | 104,000 | 104,509 | ||||||
General Motors Financial Co., Inc., 4.25%, 5/15/23 | 45,000 | 48,083 | ||||||
General Motors Financial Co., Inc., 5.25%, 3/1/26 | 40,000 | 46,413 | ||||||
199,005 | ||||||||
Banks — 16.0% | ||||||||
African Development Bank, 3.00%, 9/20/23 | 56,000 | 59,580 | ||||||
African Development Bank, MTN, 1.625%, 9/16/22 | 56,000 | 57,069 | ||||||
Asian Development Bank, MTN, 1.75%, 9/13/22 | 56,000 | 57,174 | ||||||
Asian Development Bank, MTN, 0.25%, 10/6/23 | 64,000 | 63,969 | ||||||
Asian Development Bank, MTN, 0.375%, 9/3/25 | 249,000 | 245,791 | ||||||
Asian Infrastructure Investment Bank (The), 0.25%, 9/29/23 | 184,000 | 183,908 | ||||||
Bank of America Corp., MTN, 3.875%, 8/1/25 | 88,000 | 98,548 | ||||||
Bank of Montreal, MTN, 1.85%, 5/1/25 | 96,000 | 99,650 | ||||||
Bank of Nova Scotia (The), 1.30%, 6/11/25 | 144,000 | 145,709 | ||||||
Canadian Imperial Bank of Commerce, 2.25%, 1/28/25 | 96,000 | 100,766 | ||||||
Citigroup, Inc., 3.30%, 4/27/25 | 88,000 | 96,106 | ||||||
Council Of Europe Development Bank, 0.25%, 6/10/23 | 24,000 | 24,015 | ||||||
Council Of Europe Development Bank, 1.375%, 2/27/25 | 64,000 | 65,913 | ||||||
European Bank for Reconstruction & Development, MTN, 0.25%, 7/10/23 | 40,000 | 40,019 | ||||||
European Investment Bank, 2.00%, 12/15/22 | 56,000 | 57,615 | ||||||
European Investment Bank, 1.375%, 5/15/23 | 40,000 | 40,946 | ||||||
European Investment Bank, MTN, 2.875%, 8/15/23 | 96,000 | 101,677 | ||||||
European Investment Bank, MTN, 3.125%, 12/14/23 | 16,000 | 17,167 | ||||||
Huntington Bancshares, Inc., 4.00%, 5/15/25 | 44,000 | 49,059 | ||||||
Inter-American Development Bank, 3.00%, 10/4/23 | 56,000 | 59,587 | ||||||
Inter-American Development Bank, 0.25%, 11/15/23 | 32,000 | 31,990 | ||||||
Inter-American Development Bank, 2.125%, 1/15/25 | 104,000 | 109,808 | ||||||
Inter-American Development Bank, 0.625%, 7/15/25 | 104,000 | 103,737 | ||||||
International Bank for Reconstruction & Development, 0.375%, 7/28/25 | 32,000 | 31,617 | ||||||
International Bank for Reconstruction & Development, 0.50%, 10/28/25 | 184,000 | 182,164 | ||||||
International Finance Corp., MTN, 2.875%, 7/31/23 | 152,000 | 160,707 | ||||||
JPMorgan Chase & Co., 3.90%, 7/15/25 | 88,000 | 97,978 | ||||||
Kreditanstalt fuer Wiederaufbau, 2.125%, 6/15/22 | 25,000 | 25,516 | ||||||
Kreditanstalt fuer Wiederaufbau, 2.375%, 12/29/22 | 150,000 | 155,246 | ||||||
Kreditanstalt fuer Wiederaufbau, 0.25%, 3/8/24 | 150,000 | 149,766 | ||||||
Landwirtschaftliche Rentenbank, 2.00%, 1/13/25 | 110,000 | 115,780 | ||||||
Oesterreichische Kontrollbank AG, MTN, 2.875%, 3/13/23 | 50,000 | 52,373 | ||||||
Regions Financial Corp., 2.25%, 5/18/25 | 96,000 | 100,439 | ||||||
Royal Bank of Canada, MTN, 2.55%, 7/16/24 | 56,000 | 59,380 | ||||||
Santander Holdings USA, Inc., 4.50%, 7/17/25 | 88,000 | 98,144 | ||||||
Wells Fargo & Co., MTN, 3.55%, 9/29/25 | 48,000 | 52,997 | ||||||
3,191,910 | ||||||||
Biotechnology — 0.2% | ||||||||
AbbVie, Inc., 2.90%, 11/6/22 | 38,000 | 39,382 | ||||||
Capital Markets — 2.9% | ||||||||
Bank of New York Mellon Corp. (The), MTN, 3.50%, 4/28/23 | 136,000 | 144,752 | ||||||
Charles Schwab Corp. (The), 3.85%, 5/21/25 | 88,000 | 97,868 | ||||||
CME Group, Inc., 3.00%, 9/15/22 | 96,000 | 99,427 | ||||||
Goldman Sachs Group, Inc. (The), 3.75%, 5/22/25 | 88,000 | 96,900 | ||||||
Janus Capital Group, Inc., 4.875%, 8/1/25 | 40,000 | 45,372 | ||||||
Lazard Group LLC, 3.75%, 2/13/25 | 88,000 | 96,489 | ||||||
580,808 | ||||||||
Chemicals — 0.5% | ||||||||
EI du Pont de Nemours and Co., 1.70%, 7/15/25 | 56,000 | 57,582 | ||||||
Mosaic Co. (The), 4.25%, 11/15/23 | 40,000 | 43,147 | ||||||
100,729 | ||||||||
Consumer Finance — 1.5% | ||||||||
Capital One Financial Corp., 4.25%, 4/30/25 | 88,000 | 98,496 | ||||||
Discover Financial Services, 4.50%, 1/30/26 | 87,000 | 98,838 | ||||||
Synchrony Financial, 4.50%, 7/23/25 | 88,000 | 98,680 | ||||||
296,014 | ||||||||
Containers and Packaging — 0.1% | ||||||||
Packaging Corp. of America, 3.65%, 9/15/24 | 17,000 | 18,464 | ||||||
Electric Utilities — 0.7% | ||||||||
Berkshire Hathaway Energy Co., 4.05%, 4/15/25 | 48,000 | 53,528 | ||||||
Duke Energy Progress LLC, 3.25%, 8/15/25 | 32,000 | 35,008 | ||||||
PPL Capital Funding, Inc., 3.50%, 12/1/22 | 47,000 | 48,816 | ||||||
137,352 | ||||||||
Electronic Equipment, Instruments and Components — 0.6% | ||||||||
Flex Ltd., 3.75%, 2/1/26 | 63,000 | 68,742 | ||||||
Keysight Technologies, Inc., 4.55%, 10/30/24 | 48,000 | 53,551 | ||||||
122,293 | ||||||||
Entertainment — 0.3% | ||||||||
TWDC Enterprises 18 Corp., MTN, 3.15%, 9/17/25 | 48,000 | 52,286 | ||||||
Equity Real Estate Investment Trusts (REITs) — 3.6% | ||||||||
Alexandria Real Estate Equities, Inc., 3.45%, 4/30/25 | 88,000 | 95,880 | ||||||
Brixmor Operating Partnership LP, 3.25%, 9/15/23 | 84,000 | 88,600 | ||||||
CC Holdings GS V LLC / Crown Castle GS III Corp., 3.85%, 4/15/23 | 48,000 | 51,021 | ||||||
CubeSmart LP, 4.375%, 12/15/23 | 88,000 | 95,463 | ||||||
Digital Realty Trust LP, 4.75%, 10/1/25 | 88,000 | 100,543 | ||||||
Kimco Realty Corp., 3.30%, 2/1/25 | 88,000 | 95,374 | ||||||
Simon Property Group LP, 3.50%, 9/1/25 | 88,000 | 96,536 | ||||||
WP Carey, Inc., 4.00%, 2/1/25 | 88,000 | 95,977 | ||||||
719,394 | ||||||||
Food and Staples Retailing — 0.6% | ||||||||
Costco Wholesale Corp., 2.75%, 5/18/24 | 56,000 | 59,732 | ||||||
Walmart, Inc., 3.40%, 6/26/23 | 48,000 | 50,955 | ||||||
110,687 | ||||||||
Food Products — 0.6% | ||||||||
Bunge Ltd. Finance Corp., 4.35%, 3/15/24 | 36,000 | 39,417 | ||||||
Bunge Ltd. Finance Corp., 1.63%, 8/17/25 | 39,000 | 39,517 | ||||||
Hershey Co. (The), 2.05%, 11/15/24 | 48,000 | 50,436 | ||||||
129,370 | ||||||||
Health Care Providers and Services — 1.9% | ||||||||
Cardinal Health, Inc., 3.50%, 11/15/24 | 92,000 | 99,829 | ||||||
Cigna Corp., 3.05%, 11/30/22 | 38,000 | 39,462 | ||||||
CommonSpirit Health, 2.76%, 10/1/24 | 48,000 | 50,899 |
HCA, Inc., 5.00%, 3/15/24 | 88,000 | 98,168 | ||||||
Humana, Inc., 4.50%, 4/1/25 | 88,000 | 99,059 | ||||||
387,417 | ||||||||
Hotels, Restaurants and Leisure — 0.5% | ||||||||
Hyatt Hotels Corp., 4.85%, 3/15/26 | 45,000 | 50,545 | ||||||
Starbucks Corp., 3.80%, 8/15/25 | 43,000 | 47,843 | ||||||
98,388 | ||||||||
Household Durables — 0.2% | ||||||||
DR Horton, Inc., 4.75%, 2/15/23 | 45,000 | 47,777 | ||||||
Household Products — 0.3% | ||||||||
Colgate-Palmolive Co., MTN, 3.25%, 3/15/24 | 27,000 | 29,202 | ||||||
Procter & Gamble Co. (The), 3.10%, 8/15/23 | 37,000 | 39,482 | ||||||
68,684 | ||||||||
Insurance — 2.9% | ||||||||
American International Group, Inc., 3.75%, 7/10/25 | 88,000 | 97,127 | ||||||
Loews Corp., 2.625%, 5/15/23 | 96,000 | 99,522 | ||||||
MetLife, Inc., 4.37%, 9/15/23 | 127,000 | 138,243 | ||||||
Principal Financial Group, Inc., 3.40%, 5/15/25 | 88,000 | 95,692 | ||||||
Prudential Financial, Inc., MTN, 3.50%, 5/15/24 | 56,000 | 61,060 | ||||||
Unum Group, 4.50%, 3/15/25 | 88,000 | 98,814 | ||||||
590,458 | ||||||||
IT Services — 0.5% | ||||||||
Western Union Co. (The), 2.85%, 1/10/25 | 96,000 | 101,815 | ||||||
Machinery — 1.4% | ||||||||
Caterpillar Financial Services Corp., MTN, 3.30%, 6/9/24 | 15,000 | 16,271 | ||||||
Caterpillar Financial Services Corp., MTN, 1.45%, 5/15/25 | 48,000 | 49,333 | ||||||
Cummins, Inc., 3.65%, 10/1/23 | 56,000 | 59,974 | ||||||
Illinois Tool Works, Inc., 3.50%, 3/1/24 | 56,000 | 60,412 | ||||||
John Deere Capital Corp., MTN, 3.45%, 1/10/24 | 92,000 | 99,530 | ||||||
285,520 | ||||||||
Media — 0.5% | ||||||||
Comcast Cable Communications Holdings, Inc., 9.46%, 11/15/22 | 32,000 | 36,279 | ||||||
Comcast Corp., 3.375%, 8/15/25 | 56,000 | 61,429 | ||||||
97,708 | ||||||||
Metals and Mining — 1.2% | ||||||||
BHP Billiton Finance USA Ltd., 3.85%, 9/30/23 | 45,000 | 48,640 | ||||||
Kinross Gold Corp., 5.95%, 3/15/24 | 56,000 | 63,106 | ||||||
Rio Tinto Finance USA Ltd., 3.75%, 6/15/25 | 64,000 | 71,058 | ||||||
Steel Dynamics, Inc., 2.40%, 6/15/25 | 56,000 | 58,680 | ||||||
241,484 | ||||||||
Multi-Utilities — 0.2% | ||||||||
Dominion Energy, Inc., 2.75%, 9/15/22 | 48,000 | 49,194 | ||||||
Multiline Retail — 0.5% | ||||||||
Dollar Tree, Inc., 4.00%, 5/15/25 | 88,000 | 97,558 | ||||||
Oil, Gas and Consumable Fuels — 6.2% | ||||||||
Canadian Natural Resources Ltd., 2.05%, 7/15/25 | 48,000 | 49,269 | ||||||
Chevron Corp., 1.14%, 5/11/23 | 144,000 | 146,464 | ||||||
Enbridge, Inc., 2.50%, 1/15/25 | 96,000 | 100,882 | ||||||
Enterprise Products Operating LLC, 3.35%, 3/15/23 | 96,000 | 100,338 | ||||||
EOG Resources, Inc., 2.625%, 3/15/23 | 96,000 | 99,402 | ||||||
Equinor ASA, 2.45%, 1/17/23 | 16,000 | 16,573 | ||||||
Equinor ASA, 3.70%, 3/1/24 | 16,000 | 17,371 | ||||||
Equinor ASA, 2.875%, 4/6/25 | 96,000 | 103,057 | ||||||
Exxon Mobil Corp., 2.71%, 3/6/25 | 96,000 | 102,712 | ||||||
Phillips 66 Partners LP, 2.45%, 12/15/24 | 48,000 | 50,197 |
Shell International Finance BV, 3.25%, 5/11/25 | 88,000 | 96,106 | ||||||
Total Capital Canada Ltd., 2.75%, 7/15/23 | 96,000 | 101,081 | ||||||
TransCanada PipeLines Ltd., 2.50%, 8/1/22 | 96,000 | 98,478 | ||||||
Valero Energy Corp., 2.85%, 4/15/25 | 48,000 | 50,969 | ||||||
Williams Cos., Inc. (The), 4.00%, 9/15/25 | 88,000 | 97,943 | ||||||
1,230,842 | ||||||||
Personal Products — 0.3% | ||||||||
Estee Lauder Cos., Inc. (The), 2.00%, 12/1/24 | 48,000 | 50,600 | ||||||
Pharmaceuticals — 1.5% | ||||||||
Bristol-Myers Squibb Co., 3.55%, 8/15/22 | 96,000 | 99,887 | ||||||
GlaxoSmithKline Capital, Inc., 3.625%, 5/15/25 | 24,000 | 26,620 | ||||||
Novartis Capital Corp., 1.75%, 2/14/25 | 38,000 | 39,477 | ||||||
Novartis Capital Corp., 3.00%, 11/20/25 | 36,000 | 39,245 | ||||||
Royalty Pharma plc, 1.20%, 9/2/25(1) | 104,000 | 103,242 | ||||||
308,471 | ||||||||
Road and Rail — 0.4% | ||||||||
Ryder System, Inc., MTN, 2.50%, 9/1/24 | 48,000 | 50,552 | ||||||
Ryder System, Inc., MTN, 3.35%, 9/1/25 | 24,000 | 26,156 | ||||||
76,708 | ||||||||
Semiconductors and Semiconductor Equipment — 1.9% | ||||||||
Broadcom, Inc., 4.70%, 4/15/25 | 88,000 | 99,246 | ||||||
Microchip Technology, Inc., 4.33%, 6/1/23 | 64,000 | 68,584 | ||||||
Micron Technology, Inc., 4.64%, 2/6/24 | 48,000 | 52,889 | ||||||
NXP BV / NXP Funding LLC, 4.875%, 3/1/24(1) | 56,000 | 62,038 | ||||||
QUALCOMM, Inc., 3.00%, 5/20/22 | 96,000 | 98,636 | ||||||
381,393 | ||||||||
Software — 1.9% | ||||||||
Intuit, Inc., 0.95%, 7/15/25 | 56,000 | 56,278 | ||||||
Microsoft Corp., 2.875%, 2/6/24 | 112,000 | 119,197 | ||||||
Oracle Corp., 2.40%, 9/15/23 | 40,000 | 41,687 | ||||||
Oracle Corp., 2.95%, 5/15/25 | 56,000 | 59,898 | ||||||
VMware, Inc., 4.50%, 5/15/25 | 88,000 | 98,982 | ||||||
376,042 | ||||||||
Specialty Retail — 1.0% | ||||||||
Home Depot, Inc. (The), 3.75%, 2/15/24 | 88,000 | 95,320 | ||||||
Ross Stores, Inc., 4.60%, 4/15/25 | 88,000 | 99,659 | ||||||
194,979 | ||||||||
Technology Hardware, Storage and Peripherals — 1.2% | ||||||||
Apple, Inc., 0.75%, 5/11/23 | 136,000 | 137,448 | ||||||
Apple, Inc., 3.00%, 2/9/24 | 47,000 | 50,142 | ||||||
Hewlett Packard Enterprise Co., 4.90%, 10/15/25 | 48,000 | 54,769 | ||||||
242,359 | ||||||||
Trading Companies and Distributors — 0.5% | ||||||||
Air Lease Corp., MTN, 2.875%, 1/15/26 | 95,000 | 99,642 | ||||||
TOTAL CORPORATE BONDS (Cost $10,891,412) | 10,899,342 | |||||||
U.S. TREASURY SECURITIES AND EQUIVALENTS — 39.8% | ||||||||
Israel Government AID Bond, 5.50%, 9/18/23 | 32,000 | 35,821 | ||||||
U.S. Treasury Bonds, 8.00%, 11/15/21 | 287,600 | 297,942 | ||||||
U.S. Treasury Notes, 0.125%, 7/31/22 | 500,000 | 500,352 | ||||||
U.S. Treasury Notes, 1.625%, 8/15/22 | 485,600 | 494,752 | ||||||
U.S. Treasury Notes, 1.875%, 8/31/22 | 483,200 | 493,978 | ||||||
U.S. Treasury Notes, 1.875%, 9/30/22 | 483,200 | 494,676 | ||||||
U.S. Treasury Notes, 1.375%, 10/15/22 | 484,800 | 493,274 | ||||||
U.S. Treasury Notes, 1.625%, 11/15/22 | 964,000 | 985,389 |
U.S. Treasury Notes, 0.125%, 10/15/23 | 1,000,000 | 998,613 | ||||||
U.S. Treasury Notes, 2.75%, 11/15/23 | 184,000 | 195,478 | ||||||
U.S. Treasury Notes, 2.375%, 2/29/24 | 500,000 | 529,023 | ||||||
U.S. Treasury Notes, 2.00%, 5/31/24 | 530,000 | 556,728 | ||||||
U.S. Treasury Notes, 2.75%, 8/31/25 | 356,800 | 388,710 | ||||||
U.S. Treasury Notes, 3.00%, 9/30/25 | 353,600 | 389,271 | ||||||
U.S. Treasury Notes, 0.25%, 10/31/25 | 204,000 | 200,271 | ||||||
U.S. Treasury Notes, 0.375%, 11/30/25 | 430,000 | 423,987 | ||||||
U.S. Treasury Notes, 0.375%, 1/31/26 | 495,000 | 486,811 | ||||||
TOTAL U.S. TREASURY SECURITIES AND EQUIVALENTS (Cost $7,981,916) | 7,965,076 | |||||||
U.S. GOVERNMENT AGENCY SECURITIES — 4.5% | ||||||||
FHLB, 2.75%, 12/13/24 | 120,000 | 129,796 | ||||||
FHLB, 0.375%, 9/4/25 | 160,000 | 158,172 | ||||||
FHLMC, 0.125%, 10/16/23 | 104,000 | 103,845 | ||||||
FHLMC, 0.25%, 11/6/23 | 54,000 | 54,061 | ||||||
FHLMC, 1.50%, 2/12/25 | 104,000 | 107,845 | ||||||
FHLMC, 0.375%, 9/23/25 | 60,000 | 59,314 | ||||||
FNMA, 2.375%, 1/19/23 | 16,000 | 16,590 | ||||||
FNMA, 0.25%, 7/10/23 | 152,000 | 152,216 | ||||||
FNMA, 0.50%, 11/7/25 | 104,000 | 103,096 | ||||||
Tennessee Valley Authority, 0.75%, 5/15/25 | 25,000 | 25,188 | ||||||
TOTAL U.S. GOVERNMENT AGENCY SECURITIES (Cost $912,672) | 910,123 | |||||||
SOVEREIGN GOVERNMENTS AND AGENCIES — 0.3% | ||||||||
Canada — 0.3% | ||||||||
Export Development Canada, 2.625%, 2/21/24 (Cost $52,991) | 50,000 | 53,101 | ||||||
TOTAL INVESTMENT SECURITIES — 99.1% (Cost $19,838,991) | 19,827,642 | |||||||
OTHER ASSETS AND LIABILITIES — 0.9% | 174,651 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 20,002,293 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AID | - | Agency for International Development | ||||||
Equivalent | - | Security whose payments are secured by the U.S. Treasury | ||||||
FHLB | - | Federal Home Loan Bank | ||||||
FHLMC | - | Federal Home Loan Mortgage Corporation | ||||||
FNMA | - | Federal National Mortgage Association | ||||||
MTN | - | Medium Term Note |
(1)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 $165,280, which represented 0.8% of total net assets.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) 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 Trustees 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, 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.
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 Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. 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 NAV 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.
As of period end, the fund’s investment securities were classified as Level 2. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
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.