American Century Investments®
Quarterly Portfolio Holdings
American Century® U.S. Quality Value ETF (VALQ)
May 31, 2023
American Century U.S. Quality Value ETF - Schedule of Investments | ||
MAY 31, 2023 (UNAUDITED) |
Shares | Value ($) | |||||||
COMMON STOCKS — 99.4% | ||||||||
Aerospace and Defense — 1.4% | ||||||||
Textron, Inc. | 45,151 | 2,793,492 | ||||||
Air Freight and Logistics — 0.5% | ||||||||
United Parcel Service, Inc., Class B | 5,967 | 996,489 | ||||||
Automobile Components — 0.2% | ||||||||
BorgWarner, Inc. | 8,672 | 384,430 | ||||||
Banks — 0.2% | ||||||||
Bank OZK | 11,126 | 384,737 | ||||||
Beverages — 2.3% | ||||||||
Coca-Cola Co. | 26,399 | 1,574,965 | ||||||
Coca-Cola Consolidated, Inc. | 855 | 565,788 | ||||||
Monster Beverage Corp.(1) | 6,994 | 409,988 | ||||||
National Beverage Corp.(1) | 31,529 | 1,558,163 | ||||||
PepsiCo, Inc. | 2,766 | 504,380 | ||||||
4,613,284 | ||||||||
Biotechnology — 3.7% | ||||||||
Amgen, Inc. | 6,203 | 1,368,692 | ||||||
Biogen, Inc.(1) | 1,523 | 451,432 | ||||||
Exelixis, Inc.(1) | 23,727 | 457,457 | ||||||
Gilead Sciences, Inc. | 63,615 | 4,894,538 | ||||||
United Therapeutics Corp.(1) | 1,874 | 393,053 | ||||||
7,565,172 | ||||||||
Broadline Retail — 1.0% | ||||||||
Dillard's, Inc., Class A | 2,288 | 629,909 | ||||||
eBay, Inc. | 24,250 | 1,031,595 | ||||||
Macy's, Inc. | 27,435 | 372,842 | ||||||
2,034,346 | ||||||||
Building Products — 1.9% | ||||||||
A O Smith Corp. | 6,073 | 388,307 | ||||||
Allegion PLC | 7,012 | 734,437 | ||||||
Fortune Brands Innovations, Inc. | 6,446 | 389,661 | ||||||
Owens Corning | 21,639 | 2,300,875 | ||||||
3,813,280 | ||||||||
Capital Markets — 0.9% | ||||||||
Affiliated Managers Group, Inc. | 2,830 | 393,625 | ||||||
Evercore, Inc., Class A | 4,051 | 437,305 | ||||||
Franklin Resources, Inc. | 20,803 | 499,480 | ||||||
Lazard Ltd., Class A | 5,720 | 164,107 | ||||||
SEI Investments Co. | 7,002 | 396,173 | ||||||
1,890,690 | ||||||||
Chemicals — 1.7% | ||||||||
Chemours Co. | 13,973 | 370,145 | ||||||
Dow, Inc. | 7,799 | 380,435 | ||||||
Eastman Chemical Co. | 1,257 | 96,902 | ||||||
Linde PLC | 1,145 | 404,941 | ||||||
LyondellBasell Industries NV, Class A | 15,600 | 1,334,424 | ||||||
Olin Corp. | 10,641 | 503,426 | ||||||
Westlake Corp. | 3,612 | 375,467 | ||||||
3,465,740 | ||||||||
Commercial Services and Supplies — 1.7% | ||||||||
Cintas Corp. | 2,639 | 1,245,977 |
Rollins, Inc. | 56,714 | 2,229,995 | ||||||
3,475,972 | ||||||||
Communications Equipment — 3.5% | ||||||||
Cisco Systems, Inc. | 82,851 | 4,115,209 | ||||||
F5, Inc.(1) | 12,128 | 1,789,850 | ||||||
Juniper Networks, Inc. | 39,917 | 1,212,280 | ||||||
7,117,339 | ||||||||
Construction and Engineering — 1.0% | ||||||||
EMCOR Group, Inc. | 12,423 | 2,047,807 | ||||||
Consumer Finance — 0.7% | ||||||||
Discover Financial Services | 3,977 | 408,597 | ||||||
OneMain Holdings, Inc. | 10,790 | 408,509 | ||||||
Synchrony Financial | 16,515 | 511,305 | ||||||
1,328,411 | ||||||||
Consumer Staples Distribution & Retail — 2.3% | ||||||||
Kroger Co. | 63,891 | 2,896,179 | ||||||
Walmart, Inc. | 12,390 | 1,819,719 | ||||||
4,715,898 | ||||||||
Containers and Packaging — 0.6% | ||||||||
Graphic Packaging Holding Co. | 15,947 | 381,133 | ||||||
Packaging Corp. of America | 6,181 | 766,630 | ||||||
1,147,763 | ||||||||
Distributors — 0.9% | ||||||||
Genuine Parts Co. | 9,386 | 1,397,857 | ||||||
LKQ Corp. | 9,358 | 493,634 | ||||||
1,891,491 | ||||||||
Electrical Equipment — 1.1% | ||||||||
Acuity Brands, Inc. | 5,975 | 900,373 | ||||||
Eaton Corp. PLC | 723 | 127,176 | ||||||
Emerson Electric Co. | 1,263 | 98,110 | ||||||
Hubbell, Inc. | 3,673 | 1,037,475 | ||||||
2,163,134 | ||||||||
Electronic Equipment, Instruments and Components — 2.1% | ||||||||
Cognex Corp. | 7,778 | 427,479 | ||||||
Jabil, Inc. | 33,277 | 2,978,957 | ||||||
Keysight Technologies, Inc.(1) | 2,573 | 416,311 | ||||||
Sanmina Corp.(1) | 7,803 | 413,871 | ||||||
4,236,618 | ||||||||
Entertainment — 0.2% | ||||||||
Activision Blizzard, Inc.(1) | 5,121 | 410,704 | ||||||
Financial Services — 3.6% | ||||||||
Essent Group Ltd. | 9,783 | 432,115 | ||||||
Euronet Worldwide, Inc.(1) | 11,396 | 1,269,514 | ||||||
FleetCor Technologies, Inc.(1) | 1,975 | 447,436 | ||||||
Jack Henry & Associates, Inc. | 2,722 | 416,167 | ||||||
MGIC Investment Corp. | 134,180 | 2,028,802 | ||||||
PayPal Holdings, Inc.(1) | 6,536 | 405,167 | ||||||
Visa, Inc., Class A | 1,877 | 414,873 | ||||||
Western Union Co. | 133,847 | 1,524,517 | ||||||
WEX, Inc.(1) | 2,317 | 384,275 | ||||||
7,322,866 | ||||||||
Food Products — 1.8% | ||||||||
Campbell Soup Co. | 7,812 | 394,897 | ||||||
Conagra Brands, Inc. | 11,505 | 401,179 | ||||||
General Mills, Inc. | 6,458 | 543,505 |
Hershey Co. | 3,673 | 953,878 | ||||||
Ingredion, Inc. | 4,154 | 434,509 | ||||||
Kellogg Co. | 5,913 | 394,811 | ||||||
Lancaster Colony Corp. | 1,961 | 385,494 | ||||||
Mondelez International, Inc., Class A | 1,557 | 114,299 | ||||||
3,622,572 | ||||||||
Ground Transportation — 0.4% | ||||||||
CSX Corp. | 12,819 | 393,159 | ||||||
XPO, Inc.(1) | 8,653 | 406,085 | ||||||
799,244 | ||||||||
Health Care Equipment and Supplies — 0.3% | ||||||||
Edwards Lifesciences Corp.(1) | 4,782 | 402,788 | ||||||
IDEXX Laboratories, Inc.(1) | 220 | 102,249 | ||||||
505,037 | ||||||||
Health Care Providers and Services — 7.4% | ||||||||
AmerisourceBergen Corp. | 2,574 | 437,966 | ||||||
AMN Healthcare Services, Inc.(1) | 4,286 | 406,998 | ||||||
Cardinal Health, Inc. | 52,817 | 4,346,839 | ||||||
Centene Corp.(1) | 6,231 | 388,877 | ||||||
Chemed Corp. | 4,480 | 2,391,290 | ||||||
Cigna Group | 1,609 | 398,083 | ||||||
DaVita, Inc.(1) | 4,982 | 466,664 | ||||||
Elevance Health, Inc. | 886 | 396,768 | ||||||
Henry Schein, Inc.(1) | 5,273 | 389,675 | ||||||
Humana, Inc. | 823 | 413,039 | ||||||
McKesson Corp. | 10,565 | 4,129,224 | ||||||
Quest Diagnostics, Inc. | 3,091 | 410,021 | ||||||
UnitedHealth Group, Inc. | 845 | 411,718 | ||||||
14,987,162 | ||||||||
Hotels, Restaurants and Leisure — 3.5% | ||||||||
Booking Holdings, Inc.(1) | 154 | 386,351 | ||||||
Boyd Gaming Corp. | 31,844 | 2,029,418 | ||||||
Chipotle Mexican Grill, Inc.(1) | 247 | 512,893 | ||||||
Darden Restaurants, Inc. | 7,571 | 1,200,155 | ||||||
Expedia Group, Inc.(1) | 19,163 | 1,834,091 | ||||||
Marriott International, Inc., Class A | 2,390 | 401,018 | ||||||
Texas Roadhouse, Inc. | 5,349 | 577,157 | ||||||
Travel + Leisure Co. | 2,739 | 99,891 | ||||||
7,040,974 | ||||||||
Household Durables — 0.7% | ||||||||
Lennar Corp., Class A | 4,801 | 514,283 | ||||||
NVR, Inc.(1) | 92 | 510,988 | ||||||
PulteGroup, Inc. | 6,169 | 407,648 | ||||||
1,432,919 | ||||||||
Household Products — 4.0% | ||||||||
Clorox Co. | 8,850 | 1,399,893 | ||||||
Colgate-Palmolive Co. | 10,297 | 765,891 | ||||||
Kimberly-Clark Corp. | 32,693 | 4,390,016 | ||||||
Procter & Gamble Co. | 11,198 | 1,595,715 | ||||||
8,151,515 | ||||||||
Industrial Conglomerates — 0.6% | ||||||||
3M Co. | 12,247 | 1,142,768 | ||||||
Insurance — 1.9% | ||||||||
Axis Capital Holdings Ltd. | 7,395 | 383,801 | ||||||
Everest Re Group Ltd. | 1,110 | 377,422 |
Hartford Financial Services Group, Inc. | 5,702 | 390,701 | ||||||
Loews Corp. | 6,997 | 391,832 | ||||||
Old Republic International Corp. | 16,164 | 395,856 | ||||||
Reinsurance Group of America, Inc. | 2,817 | 394,380 | ||||||
Unum Group | 35,608 | 1,547,168 | ||||||
3,881,160 | ||||||||
Interactive Media and Services — 1.6% | ||||||||
Alphabet, Inc., Class A(1) | 4,511 | 554,266 | ||||||
Meta Platforms, Inc., Class A(1) | 9,854 | 2,608,551 | ||||||
3,162,817 | ||||||||
IT Services — 6.7% | ||||||||
Accenture PLC, Class A | 12,659 | 3,872,641 | ||||||
Akamai Technologies, Inc.(1) | 14,732 | 1,357,112 | ||||||
Amdocs Ltd. | 38,687 | 3,643,155 | ||||||
Cognizant Technology Solutions Corp., Class A | 44,823 | 2,800,989 | ||||||
Gartner, Inc.(1) | 2,606 | 893,493 | ||||||
International Business Machines Corp. | 3,952 | 508,188 | ||||||
VeriSign, Inc.(1) | 2,271 | 507,160 | ||||||
13,582,738 | ||||||||
Life Sciences Tools and Services — 0.7% | ||||||||
Medpace Holdings, Inc.(1) | 4,052 | 838,643 | ||||||
Mettler-Toledo International, Inc.(1) | 374 | 494,379 | ||||||
1,333,022 | ||||||||
Machinery — 3.9% | ||||||||
Donaldson Co., Inc. | 46,369 | 2,713,978 | ||||||
Graco, Inc. | 5,263 | 402,567 | ||||||
Illinois Tool Works, Inc. | 5,330 | 1,165,831 | ||||||
Lincoln Electric Holdings, Inc. | 7,309 | 1,240,045 | ||||||
Mueller Industries, Inc. | 5,788 | 429,817 | ||||||
PACCAR, Inc. | 5,956 | 409,654 | ||||||
Parker-Hannifin Corp. | 308 | 98,695 | ||||||
Snap-on, Inc. | 1,683 | 418,831 | ||||||
Timken Co. | 6,734 | 481,818 | ||||||
Watts Water Technologies, Inc., Class A | 2,479 | 392,797 | ||||||
Xylem, Inc. | 973 | 97,495 | ||||||
7,851,528 | ||||||||
Media — 2.3% | ||||||||
Charter Communications, Inc., Class A(1) | 1,204 | 392,685 | ||||||
Comcast Corp., Class A | 11,667 | 459,097 | ||||||
Fox Corp., Class A | 12,926 | 403,291 | ||||||
Interpublic Group of Cos., Inc. | 37,707 | 1,402,323 | ||||||
New York Times Co., Class A | 11,145 | 394,756 | ||||||
News Corp., Class A | 22,675 | 415,179 | ||||||
Nexstar Media Group, Inc., Class A | 2,550 | 384,846 | ||||||
Omnicom Group, Inc. | 5,243 | 462,380 | ||||||
TEGNA, Inc. | 25,107 | 388,907 | ||||||
4,703,464 | ||||||||
Metals and Mining — 0.5% | ||||||||
Reliance Steel & Aluminum Co. | 2,851 | 669,073 | ||||||
Steel Dynamics, Inc. | 4,228 | 388,553 | ||||||
1,057,626 | ||||||||
Oil, Gas and Consumable Fuels — 3.9% | ||||||||
APA Corp. | 11,950 | 379,771 | ||||||
Chesapeake Energy Corp. | 5,395 | 405,974 | ||||||
Chord Energy Corp. | 3,332 | 476,609 |
Exxon Mobil Corp. | 3,808 | 389,101 | ||||||
Marathon Oil Corp. | 17,141 | 379,845 | ||||||
Marathon Petroleum Corp. | 23,642 | 2,480,282 | ||||||
PBF Energy, Inc., Class A | 10,655 | 392,211 | ||||||
PDC Energy, Inc. | 5,650 | 387,703 | ||||||
Peabody Energy Corp. | 32,034 | 581,737 | ||||||
Phillips 66 | 12,711 | 1,164,455 | ||||||
SM Energy Co. | 14,370 | 377,787 | ||||||
Valero Energy Corp. | 3,602 | 385,558 | ||||||
7,801,033 | ||||||||
Personal Care Products — 0.4% | ||||||||
Coty, Inc., Class A(1) | 79,190 | 858,420 | ||||||
Pharmaceuticals — 3.8% | ||||||||
Bristol-Myers Squibb Co. | 6,091 | 392,504 | ||||||
Eli Lilly & Co. | 1,973 | 847,325 | ||||||
Jazz Pharmaceuticals PLC(1) | 3,108 | 398,321 | ||||||
Johnson & Johnson | 33,594 | 5,209,086 | ||||||
Merck & Co., Inc. | 4,747 | 524,116 | ||||||
Pfizer, Inc. | 10,223 | 388,678 | ||||||
7,760,030 | ||||||||
Professional Services — 1.2% | ||||||||
CACI International, Inc., Class A(1) | 1,376 | 411,727 | ||||||
Concentrix Corp. | 4,245 | 372,286 | ||||||
CoStar Group, Inc.(1) | 5,162 | 409,863 | ||||||
Insperity, Inc. | 2,383 | 263,846 | ||||||
ManpowerGroup, Inc. | 3,376 | 236,894 | ||||||
Paychex, Inc. | 3,723 | 390,654 | ||||||
TriNet Group, Inc.(1) | 4,754 | 422,488 | ||||||
2,507,758 | ||||||||
Real Estate Management and Development — 0.2% | ||||||||
CBRE Group, Inc., Class A(1) | 5,390 | 403,819 | ||||||
Retail REITs — 0.3% | ||||||||
NNN REIT, Inc. | 2,365 | 100,607 | ||||||
Simon Property Group, Inc. | 5,073 | 533,426 | ||||||
634,033 | ||||||||
Semiconductors and Semiconductor Equipment — 2.6% | ||||||||
Allegro MicroSystems, Inc.(1) | 10,789 | 424,332 | ||||||
Applied Materials, Inc. | 3,940 | 525,202 | ||||||
Broadcom, Inc. | 2,483 | 2,006,165 | ||||||
Cirrus Logic, Inc.(1) | 5,349 | 415,510 | ||||||
Lam Research Corp. | 866 | 534,062 | ||||||
Microchip Technology, Inc. | 6,924 | 521,100 | ||||||
ON Semiconductor Corp.(1) | 5,222 | 436,559 | ||||||
Qorvo, Inc.(1) | 4,305 | 418,704 | ||||||
5,281,634 | ||||||||
Software — 7.1% | ||||||||
Adobe, Inc.(1) | 1,094 | 457,062 | ||||||
ANSYS, Inc.(1) | 339 | 109,697 | ||||||
Cadence Design Systems, Inc.(1) | 1,969 | 454,662 | ||||||
Dolby Laboratories, Inc., Class A | 5,022 | 414,466 | ||||||
Dropbox, Inc., Class A(1) | 58,189 | 1,339,511 | ||||||
Fair Isaac Corp.(1) | 133 | 104,760 | ||||||
Fortinet, Inc.(1) | 5,951 | 406,632 | ||||||
Manhattan Associates, Inc.(1) | 11,748 | 2,131,322 | ||||||
Microsoft Corp. | 7,364 | 2,418,264 | ||||||
Qualys, Inc.(1) | 10,115 | 1,277,120 |
ServiceNow, Inc.(1) | 810 | 441,272 | ||||||
SPS Commerce, Inc.(1) | 2,533 | 394,641 | ||||||
Synopsys, Inc.(1) | 8,595 | 3,910,381 | ||||||
VMware, Inc., Class A(1) | 3,616 | 492,825 | ||||||
14,352,615 | ||||||||
Specialized REITs — 0.2% | ||||||||
Weyerhaeuser Co. | 13,882 | 397,858 | ||||||
Specialty Retail — 5.8% | ||||||||
Asbury Automotive Group, Inc.(1) | 1,963 | 410,483 | ||||||
AutoNation, Inc.(1) | 8,663 | 1,134,160 | ||||||
AutoZone, Inc.(1) | 164 | 391,442 | ||||||
Best Buy Co., Inc. | 13,314 | 967,528 | ||||||
Dick's Sporting Goods, Inc. | 3,253 | 414,790 | ||||||
Home Depot, Inc. | 3,885 | 1,101,203 | ||||||
Murphy USA, Inc. | 1,530 | 422,922 | ||||||
O'Reilly Automotive, Inc.(1) | 4,554 | 4,113,674 | ||||||
Penske Automotive Group, Inc. | 4,299 | 594,208 | ||||||
Ulta Beauty, Inc.(1) | 2,708 | 1,109,820 | ||||||
Williams-Sonoma, Inc. | 8,970 | 1,018,185 | ||||||
11,678,415 | ||||||||
Technology Hardware, Storage and Peripherals — 3.8% | ||||||||
Apple, Inc. | 30,706 | 5,442,638 | ||||||
Hewlett Packard Enterprise Co. | 39,528 | 569,994 | ||||||
HP, Inc. | 42,875 | 1,245,948 | ||||||
NetApp, Inc. | 6,278 | 416,545 | ||||||
7,675,125 | ||||||||
Textiles, Apparel and Luxury Goods — 1.0% | ||||||||
NIKE, Inc., Class B | 3,725 | 392,094 | ||||||
PVH Corp. | 6,671 | 573,839 | ||||||
Ralph Lauren Corp. | 1,748 | 185,830 | ||||||
Skechers USA, Inc., Class A(1) | 7,927 | 407,210 | ||||||
Tapestry, Inc. | 9,772 | 391,075 | ||||||
1,950,048 | ||||||||
Tobacco — 0.4% | ||||||||
Altria Group, Inc. | 9,068 | 402,800 | ||||||
Philip Morris International, Inc. | 4,360 | 392,444 | ||||||
795,244 | ||||||||
Trading Companies and Distributors — 0.9% | ||||||||
Applied Industrial Technologies, Inc. | 3,200 | 393,472 | ||||||
Watsco, Inc. | 317 | 102,825 | ||||||
WW Grainger, Inc. | 1,949 | 1,264,940 | ||||||
1,761,237 | ||||||||
TOTAL COMMON STOCKS (Cost $195,260,027) | 200,911,478 | |||||||
SHORT-TERM INVESTMENTS — 0.3% | ||||||||
Money Market Funds — 0.3% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class (Cost $585,646) | 585,646 | 585,646 | ||||||
TOTAL INVESTMENT SECURITIES — 99.7% (Cost $195,845,673) | 201,497,124 | |||||||
OTHER ASSETS AND LIABILITIES — 0.3% | 592,819 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 202,089,943 |
NOTES TO SCHEDULE OF INVESTMENTS |
(1)Non-income producing.
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 value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.
Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.
Open-end management investment companies are valued at the reported NAV per share.
If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.
The valuation designee 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; regulatory news, 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. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
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 1. 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.