American Century Investments®
Quarterly Portfolio Holdings
Avantis® Core Municipal Fixed Income Fund
May 31, 2023
Avantis Core Municipal Fixed Income Fund - Schedule of Investments | ||
MAY 31, 2023 (UNAUDITED) |
Principal Amount ($)/ Shares | Value ($) | |||||||
MUNICIPAL SECURITIES — 98.6% | ||||||||
Alabama — 2.5% | ||||||||
Alabama Federal Aid Highway Finance Authority Rev., 5.00%, 9/1/26, Prerefunded at 100% of Par(1) | 10,000 | 10,618 | ||||||
Alabama Federal Aid Highway Finance Authority Rev., 4.00%, 9/1/27, Prerefunded at 100% of Par(1) | 25,000 | 26,165 | ||||||
Alabama Public School and College Authority Rev., 5.00%, 11/1/37 | 100,000 | 111,090 | ||||||
State of Alabama GO, 5.00%, 8/1/27 | 60,000 | 63,677 | ||||||
211,550 | ||||||||
Arizona — 2.7% | ||||||||
Mesa Utility System Rev., 4.00%, 7/1/34 | 15,000 | 15,650 | ||||||
Salt River Project Agricultural Improvement & Power District Rev., 5.00%, 1/1/30 | 65,000 | 71,134 | ||||||
Salt River Project Agricultural Improvement & Power District Rev., 5.00%, 1/1/31 | 55,000 | 60,218 | ||||||
Scottsdale Municipal Property Corp. Rev., 5.00%, 7/1/30 | 30,000 | 33,453 | ||||||
State of Arizona COP, 5.00%, 10/1/27(1) | 40,000 | 43,447 | ||||||
223,902 | ||||||||
California — 14.1% | ||||||||
California Infrastructure & Economic Development Bank Rev., 5.00%, 10/1/28 | 30,000 | 32,609 | ||||||
California State University Rev., 5.00%, 11/1/37 | 25,000 | 26,001 | ||||||
East Bay Municipal Utility District Water System Rev., 5.00%, 6/1/33 | 20,000 | 21,839 | ||||||
Eastern Municipal Water District Financing Authority Rev., 4.00%, 7/1/38 | 40,000 | 40,667 | ||||||
Los Angeles Department of Airports Rev., 5.00%, 5/15/31 | 60,000 | 68,551 | ||||||
Los Angeles Department of Airports Rev., 5.00%, 5/15/38 | 95,000 | 105,193 | ||||||
Los Angeles Department of Water & Power Rev., 5.00%, 7/1/28 | 50,000 | 55,584 | ||||||
Los Angeles Department of Water & Power System Rev., 5.00%, 7/1/34 | 15,000 | 15,506 | ||||||
Los Angeles Unified School District GO, 5.00%, 7/1/29 | 25,000 | 27,505 | ||||||
Municipal Improvement Corp. of Los Angeles Rev., 5.00%, 11/1/31 | 40,000 | 42,948 | ||||||
Port of Los Angeles Rev., 5.00%, 8/1/26 | 25,000 | 26,611 | ||||||
San Diego Public Facilities Financing Authority Rev., (San Diego Sewer Utility Rev.), 5.00%, 5/15/29 | 25,000 | 26,720 | ||||||
San Diego Unified School District GO, 5.25%, 7/1/28 (AGM) | 25,000 | 28,201 | ||||||
San Diego Unified School District GO, 5.00%, 7/1/29 | 20,000 | 21,411 | ||||||
San Diego Unified School District GO, 4.00%, 7/1/32 | 40,000 | 41,257 | ||||||
San Diego Unified School District GO, Capital Appreciation, 0.00%, 7/1/30(2) | 15,000 | 11,908 | ||||||
San Francisco City & County Airport Comm-San Francisco International Airport Rev., 5.00%, 5/1/35 | 10,000 | 11,182 | ||||||
San Francisco City & County Airport Comm-San Francisco International Airport Rev., 5.00%, 5/1/37 | 10,000 | 10,955 | ||||||
San Francisco Public Utilities Commission Water Rev., 5.00%, 11/1/34 | 15,000 | 16,081 | ||||||
San Jose Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/34 | 10,000 | 10,866 | ||||||
State of California GO, 5.00%, 8/1/30 | 40,000 | 44,362 | ||||||
State of California GO, 5.25%, 8/1/32 (AGM) | 10,000 | 11,954 | ||||||
State of California GO, 4.00%, 9/1/33 | 70,000 | 71,749 | ||||||
State of California GO, 5.00%, 9/1/35 | 40,000 | 42,255 | ||||||
State of California GO, 3.00%, 10/1/35 | 165,000 | 153,181 | ||||||
State of California GO, 3.00%, 10/1/37 | 40,000 | 35,733 | ||||||
State of California Department of Water Resources Rev., 5.00%, 12/1/29 | 25,000 | 26,913 | ||||||
State of California Department of Water Resources Rev., 5.00%, 12/1/34 | 25,000 | 29,039 | ||||||
Sweetwater Union High School District GO, 4.00%, 8/1/42 | 40,000 | 38,890 | ||||||
University of California Rev., 5.00%, 5/15/32 | 25,000 | 27,879 | ||||||
University of California Rev., 5.00%, 5/15/32 | 50,000 | 54,338 | ||||||
1,177,888 | ||||||||
Colorado — 1.4% | ||||||||
City & County of Denver GO, 5.00%, 8/1/27 | 25,000 | 27,141 | ||||||
Regional Transportation District Sales Tax Rev., 5.00%, 11/1/28 | 20,000 | 22,150 |
State of Colorado COP, 5.00%, 12/15/29 | 25,000 | 27,611 | ||||||
State of Colorado COP, 4.00%, 12/15/37 | 10,000 | 10,091 | ||||||
State of Colorado COP, 4.00%, 12/15/38 | 30,000 | 30,195 | ||||||
117,188 | ||||||||
Connecticut — 1.4% | ||||||||
State of Connecticut GO, 5.00%, 1/15/31 | 25,000 | 28,094 | ||||||
State of Connecticut GO, 4.00%, 1/15/37 | 10,000 | 10,293 | ||||||
State of Connecticut, Special Tax Rev., 5.00%, 1/1/28 | 40,000 | 43,553 | ||||||
State of Connecticut, Special Tax Rev., 5.00%, 1/1/31 | 10,000 | 10,890 | ||||||
State of Connecticut, Special Tax Rev., 4.00%, 11/1/39 | 20,000 | 20,140 | ||||||
112,970 | ||||||||
District of Columbia — 3.2% | ||||||||
District of Columbia GO, 5.00%, 10/15/27 | 10,000 | 10,888 | ||||||
District of Columbia GO, 5.00%, 10/15/34 | 50,000 | 55,522 | ||||||
District of Columbia GO, 5.00%, 10/15/36 | 30,000 | 32,922 | ||||||
District of Columbia GO, 4.00%, 6/1/37 | 5,000 | 5,040 | ||||||
District of Columbia Rev., (Georgetown University), 5.00%, 4/1/34 | 35,000 | 37,094 | ||||||
Washington Metropolitan Area Transit Authority Rev., 4.00%, 7/15/40 | 125,000 | 125,545 | ||||||
267,011 | ||||||||
Florida — 4.8% | ||||||||
Broward County Water & Sewer Utility Rev., 5.00%, 10/1/38 | 15,000 | 16,419 | ||||||
Cape Coral Water & Sewer Rev., 5.00%, 10/1/39 | 10,000 | 10,435 | ||||||
Central Florida Expressway Authority Rev., 4.00%, 7/1/31 | 5,000 | 5,085 | ||||||
Central Florida Expressway Authority Rev., 4.00%, 7/1/37 | 35,000 | 35,036 | ||||||
Central Florida Expressway Authority Rev., 4.00%, 7/1/38 | 15,000 | 14,875 | ||||||
Florida Department of Management Services COP, 5.00%, 11/1/28 | 50,000 | 55,269 | ||||||
Florida Municipal Power Agency Rev., 5.00%, 10/1/27 | 50,000 | 52,843 | ||||||
Hillsborough County School Board COP, 5.00%, 7/1/29 | 30,000 | 33,082 | ||||||
Miami-Dade County Aviation Rev., 5.00%, 10/1/28 | 50,000 | 52,740 | ||||||
Miami-Dade County Expressway Authority Rev., 5.00%, 7/1/25 | 10,000 | 10,108 | ||||||
Orange County School Board COP, 5.00%, 8/1/34 | 60,000 | 62,062 | ||||||
Palm Beach County School District COP, 5.00%, 8/1/28 | 35,000 | 38,323 | ||||||
Palm Beach County School District COP, 5.00%, 8/1/29 | 15,000 | 16,455 | ||||||
402,732 | ||||||||
Georgia — 1.1% | ||||||||
Georgia State Road & Tollway Authority Rev., 5.00%, 6/1/29 | 10,000 | 11,199 | ||||||
Metropolitan Atlanta Rapid Transit Authority Rev., 3.25%, 7/1/37 | 10,000 | 9,452 | ||||||
State of Georgia GO, 5.00%, 7/1/28 | 65,000 | 71,998 | ||||||
92,649 | ||||||||
Hawaii — 3.1% | ||||||||
City & County of Honolulu GO, 5.00%, 3/1/28 | 80,000 | 87,594 | ||||||
City & County of Honolulu GO, 5.00%, 9/1/29 | 65,000 | 72,106 | ||||||
State of Hawaii GO, 5.00%, 1/1/28 | 35,000 | 38,219 | ||||||
State of Hawaii GO, 5.00%, 10/1/28 | 25,000 | 26,551 | ||||||
State of Hawaii GO, 5.00%, 10/1/30 | 30,000 | 32,445 | ||||||
256,915 | ||||||||
Idaho — 0.3% | ||||||||
Idaho Housing & Finance Association Rev., 5.00%, 7/15/26 | 20,000 | 21,140 | ||||||
Illinois — 6.6% | ||||||||
Chicago Midway International Airport Rev., 5.00%, 1/1/41 | 35,000 | 35,704 | ||||||
Chicago O'Hare International Airport Rev., 5.00%, 1/1/32 | 15,000 | 15,612 | ||||||
Chicago O'Hare International Airport Rev., 5.00%, 1/1/38 | 25,000 | 26,029 | ||||||
Cook County GO, 5.00%, 11/15/31 | 20,000 | 20,973 | ||||||
Illinois Finance Authority Rev., (DePaul University), 4.00%, 10/1/40 | 75,000 | 70,939 | ||||||
Illinois Municipal Electric Agency Rev., 5.00%, 2/1/29 | 25,000 | 25,764 |
Illinois State Toll Highway Authority Rev., 5.00%, 1/1/30 | 15,000 | 16,836 | ||||||
Illinois State Toll Highway Authority Rev., 5.00%, 1/1/30 | 30,000 | 33,671 | ||||||
Illinois State Toll Highway Authority Rev., 5.00%, 1/1/41 | 40,000 | 41,360 | ||||||
Illinois State Toll Highway Authority Rev., 4.00%, 1/1/42 | 55,000 | 53,707 | ||||||
Metropolitan Water Reclamation District of Greater Chicago GO, 5.00%, 12/1/29 | 95,000 | 100,462 | ||||||
Metropolitan Water Reclamation District of Greater Chicago GO, 5.00%, 12/1/30 | 25,000 | 26,497 | ||||||
State of Illinois GO, 4.00%, 10/1/32 | 10,000 | 10,200 | ||||||
State of Illinois GO, 5.00%, 3/1/34 | 35,000 | 38,239 | ||||||
State of Illinois GO, 4.25%, 12/1/37 | 35,000 | 35,095 | ||||||
551,088 | ||||||||
Indiana — 1.7% | ||||||||
Indiana Finance Authority Rev., (Indiana Department of Transportation), 5.00%, 6/1/28 | 105,000 | 112,184 | ||||||
Indiana Finance Authority Rev., (Indiana Finance Authority State Revolving Fund), 5.00%, 2/1/37 | 10,000 | 10,940 | ||||||
Indiana Finance Authority Rev., (Marion County Capital Improvement Board), 5.25%, 2/1/37 | 10,000 | 10,236 | ||||||
Indiana Municipal Power Agency Rev., 5.00%, 1/1/35 | 10,000 | 10,353 | ||||||
143,713 | ||||||||
Kentucky — 0.5% | ||||||||
Kentucky State Property & Building Commission Rev., (Kentucky Finance and Administration Cabinet), 5.00%, 11/1/26 | 40,000 | 42,248 | ||||||
Louisiana — 1.1% | ||||||||
State of Louisiana GO, 5.00%, 8/1/27 | 50,000 | 53,082 | ||||||
State of Louisiana GO, 5.00%, 8/1/28 | 35,000 | 37,124 | ||||||
90,206 | ||||||||
Maryland — 1.8% | ||||||||
State of Maryland GO, 5.00%, 3/15/27 | 10,000 | 10,749 | ||||||
State of Maryland GO, 5.00%, 3/15/29 | 15,000 | 16,821 | ||||||
State of Maryland GO, 5.00%, 3/15/30 | 45,000 | 49,581 | ||||||
State of Maryland GO, 5.00%, 3/15/31 | 15,000 | 16,229 | ||||||
State of Maryland GO, 5.00%, 3/15/31 | 50,000 | 56,097 | ||||||
149,477 | ||||||||
Massachusetts — 5.1% | ||||||||
Massachusetts GO, 5.00%, 1/1/30 | 35,000 | 39,066 | ||||||
Massachusetts GO, 5.00%, 9/1/30 | 30,000 | 33,884 | ||||||
Massachusetts GO, 5.00%, 1/1/31 | 60,000 | 67,007 | ||||||
Massachusetts GO, 3.00%, 7/1/35 | 15,000 | 13,979 | ||||||
Massachusetts Bay Transportation Authority Rev., 5.00%, 7/1/28 | 110,000 | 121,623 | ||||||
Massachusetts Bay Transportation Authority Rev., 5.00%, 7/1/29 | 45,000 | 50,791 | ||||||
Massachusetts School Building Authority Rev., 5.00%, 8/15/37 | 40,000 | 41,270 | ||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Rev., 5.00%, 1/1/27 | 30,000 | 31,971 | ||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Rev., 5.00%, 1/1/31 | 25,000 | 27,715 | ||||||
427,306 | ||||||||
Michigan — 0.5% | ||||||||
Great Lakes Water Authority Sewage Disposal System Rev., 5.00%, 7/1/30 | 40,000 | 42,178 | ||||||
Minnesota — 0.5% | ||||||||
Minneapolis-St. Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/27 | 15,000 | 15,944 | ||||||
Minneapolis-St. Paul Metropolitan Airports Commission Rev., 5.00%, 1/1/28 | 25,000 | 26,629 | ||||||
42,573 | ||||||||
Mississippi — 1.3% | ||||||||
State of Mississippi GO, 5.00%, 10/1/27, Prerefunded at 100% of Par(1) | 25,000 | 27,207 | ||||||
State of Mississippi GO, 5.00%, 10/1/27 | 75,000 | 81,240 | ||||||
108,447 | ||||||||
Nevada — 2.0% | ||||||||
State of Nevada Highway Improvement Rev., 5.00%, 12/1/26 | 15,000 | 15,795 | ||||||
State of Nevada Highway Improvement Rev., 5.00%, 12/1/27 | 35,000 | 36,897 | ||||||
State of Nevada Highway Improvement Rev., 5.00%, 12/1/28 | 70,000 | 73,917 | ||||||
State of Nevada Highway Improvement Rev., 5.00%, 12/1/31 | 35,000 | 37,561 | ||||||
164,170 | ||||||||
New Jersey — 3.5% | ||||||||
New Jersey Economic Development Authority Rev., (New Jersey Transit Corp.), 4.00%, 11/1/27 | 40,000 | 40,678 | ||||||
New Jersey Economic Development Authority Rev., (State of New Jersey Department of the Treasury), 4.25%, 6/15/26 | 35,000 | 35,293 | ||||||
New Jersey Economic Development Authority Rev., (State of New Jersey Department of the Treasury), 5.00%, 12/15/26, Prerefunded at 100% of Par(1) | 20,000 | 21,396 | ||||||
New Jersey Economic Development Authority Rev., (State of New Jersey Department of the Treasury), 4.00%, 6/15/27, Prerefunded at 100% of Par(1) | 15,000 | 15,699 | ||||||
New Jersey Educational Facilities Authority Rev., (State of New Jersey), 5.00%, 9/1/36 | 60,000 | 62,042 | ||||||
New Jersey Turnpike Authority Rev., 5.00%, 1/1/32 | 45,000 | 48,912 | ||||||
New Jersey Turnpike Authority Rev., 5.00%, 1/1/34 | 10,000 | 10,625 | ||||||
New Jersey Turnpike Authority Rev., 3.25%, 1/1/38 | 20,000 | 17,911 | ||||||
State of New Jersey GO, 5.00%, 6/1/28 | 35,000 | 38,222 | ||||||
290,778 | ||||||||
New Mexico — 0.3% | ||||||||
State of New Mexico Severance Tax Permanent Fund Rev., 5.00%, 7/1/31 | 25,000 | 28,896 | ||||||
New York — 16.8% | ||||||||
Hudson Yards Infrastructure Corp. Rev., 5.00%, 2/15/28 | 15,000 | 15,913 | ||||||
Hudson Yards Infrastructure Corp. Rev., 5.00%, 2/15/32 | 15,000 | 15,904 | ||||||
Hudson Yards Infrastructure Corp. Rev., 5.00%, 2/15/37 | 105,000 | 110,276 | ||||||
Long Island Power Authority Rev., 5.00%, 9/1/29 | 20,000 | 22,114 | ||||||
Metropolitan Transportation Authority Rev., 5.00%, 11/15/39 | 30,000 | 30,101 | ||||||
Nassau County GO, 5.00%, 10/1/27 | 50,000 | 54,500 | ||||||
New York City GO, 5.00%, 8/1/26 | 15,000 | 15,869 | ||||||
New York City GO, 5.00%, 8/1/27 | 60,000 | 64,648 | ||||||
New York City GO, 5.00%, 12/1/33 | 25,000 | 26,565 | ||||||
New York City GO, 4.00%, 3/1/42 | 20,000 | 19,683 | ||||||
New York City Transitional Finance Authority Building Aid Rev., 5.00%, 7/15/30 | 50,000 | 54,187 | ||||||
New York City Transitional Finance Authority Building Aid Rev., 4.00%, 7/15/36 | 25,000 | 25,343 | ||||||
New York City Transitional Finance Authority Future Tax Secured Rev., 4.00%, 11/1/38 | 40,000 | 40,400 | ||||||
New York Convention Center Development Corp. Rev., (New York City Hotel Unit Fee Rev.), 5.00%, 11/15/40 | 25,000 | 25,576 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 2/15/30 | 50,000 | 54,149 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/32 | 20,000 | 22,044 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/32 | 25,000 | 27,792 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/32 | 60,000 | 68,814 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 4.00%, 3/15/34 | 20,000 | 21,125 | ||||||
New York State Dormitory Authority Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/39 | 65,000 | 69,901 | ||||||
New York State Dormitory Authority Rev., (State University of New York), 5.00%, 7/1/26 | 50,000 | 52,794 | ||||||
New York State Thruway Authority Rev., 3.50%, 1/1/37 | 25,000 | 23,587 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/31 | 15,000 | 16,230 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/32 | 30,000 | 34,322 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 4.00%, 3/15/37 | 10,000 | 10,161 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 4.00%, 3/15/37 | 35,000 | 35,600 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/39 | 30,000 | 32,144 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 5.00%, 3/15/39 | 45,000 | 47,891 | ||||||
New York State Urban Development Corp. Rev., (State of New York Personal Income Tax Rev.), 4.00%, 3/15/41 | 10,000 | 9,926 | ||||||
Port Authority of New York & New Jersey Rev., 5.00%, 10/15/34 | 15,000 | 15,574 | ||||||
Port Authority of New York & New Jersey Rev., 4.00%, 7/15/37 | 65,000 | 66,406 | ||||||
Port Authority of New York & New Jersey Rev., 4.00%, 9/1/37 | 20,000 | 20,376 | ||||||
Suffolk County Water Authority Rev., 3.00%, 6/1/32 | 10,000 | 10,007 | ||||||
Triborough Bridge & Tunnel Authority Rev., 5.00%, 11/15/29 | 45,000 | 50,911 | ||||||
Triborough Bridge & Tunnel Authority Rev., 5.00%, 11/15/30 | 40,000 | 45,998 | ||||||
Triborough Bridge & Tunnel Authority Rev., 5.00%, 11/15/38 | 15,000 | 15,835 | ||||||
Utility Debt Securitization Authority Rev., 5.00%, 6/15/25 | 15,000 | 15,008 | ||||||
Utility Debt Securitization Authority Rev., 5.00%, 12/15/25 | 25,000 | 25,192 | ||||||
Utility Debt Securitization Authority Rev., 5.00%, 12/15/26 | 10,000 | 10,255 |
Utility Debt Securitization Authority Rev., 5.00%, 12/15/35 | 50,000 | 52,098 | ||||||
Utility Debt Securitization Authority Rev., 5.00%, 12/15/38 | 25,000 | 27,007 | ||||||
1,402,226 | ||||||||
North Carolina — 1.0% | ||||||||
State of North Carolina Rev., 5.00%, 3/1/29 | 45,000 | 50,043 | ||||||
State of North Carolina Rev., 5.00%, 3/1/33 | 30,000 | 33,325 | ||||||
83,368 | ||||||||
Ohio — 1.5% | ||||||||
Ohio Water Development Authority Rev., (Ohio Water Development Authority Drinking Water Assistance Fund), 5.00%, 12/1/29 | 30,000 | 33,863 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%, 6/1/29 | 15,000 | 16,780 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%, 6/1/33 | 15,000 | 17,120 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%, 12/1/38 | 20,000 | 21,987 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund Rev., 5.00%, 12/1/39 | 30,000 | 32,974 | ||||||
122,724 | ||||||||
Oregon — 0.3% | ||||||||
Multnomah County GO, 5.00%, 6/15/29 | 20,000 | 22,508 | ||||||
Pennsylvania — 1.7% | ||||||||
Delaware Valley Regional Finance Authority Rev., 5.50%, 8/1/28 (Ambac) | 20,000 | 22,222 | ||||||
Montgomery County Higher Education and Health Authority Rev., (Thomas Jefferson University Obligated Group), 5.00%, 9/1/33 | 20,000 | 21,453 | ||||||
Montgomery County Higher Education and Health Authority Rev., (Thomas Jefferson University Obligated Group), 4.00%, 9/1/34 | 55,000 | 54,990 | ||||||
Pennsylvania GO, 5.00%, 7/15/29 | 35,000 | 39,322 | ||||||
137,987 | ||||||||
Tennessee — 1.3% | ||||||||
Metropolitan Government of Nashville & Davidson County GO, 5.00%, 7/1/27 | 25,000 | 26,992 | ||||||
Metropolitan Government of Nashville & Davidson County GO, 4.00%, 7/1/28 | 75,000 | 77,811 | ||||||
104,803 | ||||||||
Texas — 6.8% | ||||||||
Central Texas Turnpike System Rev., 5.00%, 8/15/37 | 20,000 | 20,284 | ||||||
Dallas Area Rapid Transit Rev., 5.00%, 12/1/29 | 15,000 | 16,832 | ||||||
Dallas County Utility & Reclamation District GO, 5.00%, 2/15/28 | 85,000 | 91,468 | ||||||
Dallas Fort Worth International Airport Rev., 5.00%, 11/1/32 | 50,000 | 56,930 | ||||||
Houston GO, 5.00%, 3/1/28 | 20,000 | 21,460 | ||||||
Houston GO, 5.00%, 3/1/28 | 25,000 | 27,280 | ||||||
Houston GO, 5.00%, 3/1/30 | 30,000 | 33,300 | ||||||
San Antonio Electric & Gas Systems Rev., 3.125%, 2/1/28 | 20,000 | 19,288 | ||||||
San Antonio Electric & Gas Systems Rev., 5.00%, 2/1/30 | 45,000 | 47,571 | ||||||
San Antonio Public Facilities Corp. Rev., 4.00%, 9/15/42 | 55,000 | 52,436 | ||||||
Texas State University System Rev., 5.00%, 3/15/31 | 80,000 | 85,599 | ||||||
Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 5.00%, 4/15/29 | 20,000 | 21,702 | ||||||
Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 4.00%, 10/15/36 | 30,000 | 30,614 | ||||||
Texas Water Development Board Rev., (State Water Implementation Rev. Fund for Texas), 4.00%, 10/15/37 | 25,000 | 25,151 | ||||||
Trinity River Authority Central Regional Wastewater System Rev., 5.00%, 8/1/28 | 15,000 | 16,122 | ||||||
566,037 | ||||||||
Utah — 0.3% | ||||||||
Utah Transit Authority Rev., 5.25%, 6/15/32 (AGM) | 25,000 | 29,154 | ||||||
Virginia — 4.0% | ||||||||
Richmond Public Utility Rev., 5.00%, 1/15/28 | 20,000 | 20,887 | ||||||
Virginia College Building Authority Rev., 5.00%, 2/1/30 | 20,000 | 21,747 | ||||||
Virginia College Building Authority Rev., 5.00%, 2/1/30 | 100,000 | 111,729 | ||||||
Virginia College Building Authority Rev., 3.00%, 2/1/35 | 20,000 | 18,843 | ||||||
Virginia Commonwealth Transportation Board Rev., 5.00%, 9/15/26 | 35,000 | 37,173 | ||||||
Virginia Commonwealth Transportation Board Rev., 5.00%, 5/15/27 | 20,000 | 21,537 | ||||||
Virginia Commonwealth Transportation Board Rev., 5.00%, 5/15/29 | 25,000 | 27,172 |
Virginia Public Building Authority Rev., 5.00%, 8/1/27 | 65,000 | 70,353 | ||||||
329,441 | ||||||||
Washington — 3.3% | ||||||||
Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/27 | 65,000 | 70,180 | ||||||
Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/28 | 10,000 | 10,757 | ||||||
Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/28 | 40,000 | 44,007 | ||||||
Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/30 | 20,000 | 21,989 | ||||||
Energy Northwest Rev., (Bonneville Power Administration), 5.00%, 7/1/33 | 35,000 | 38,520 | ||||||
State of Washington GO, 5.00%, 8/1/27 | 40,000 | 43,343 | ||||||
State of Washington GO, 5.00%, 7/1/32 | 45,000 | 47,041 | ||||||
275,837 | ||||||||
Wisconsin — 2.1% | ||||||||
State of Wisconsin GO, 5.00%, 11/1/29 | 25,000 | 27,137 | ||||||
State of Wisconsin Rev., 5.00%, 5/1/27(1) | 125,000 | 134,349 | ||||||
Wisconsin Department of Transportation Rev., 5.00%, 7/1/27 | 15,000 | 16,177 | ||||||
177,663 | ||||||||
TOTAL MUNICIPAL SECURITIES (Cost $8,844,192) | 8,216,773 | |||||||
SHORT-TERM INVESTMENTS — 0.1% | ||||||||
Money Market Funds — 0.1% | ||||||||
Morgan Stanley Institutional Liquidity Funds Tax-Exempt Portfolio, Institutional Class (Cost $14,205) | 14,206 | 14,206 | ||||||
TOTAL INVESTMENT SECURITIES — 98.7% (Cost $8,858,397) | 8,230,979 | |||||||
OTHER ASSETS AND LIABILITIES — 1.3% | 104,860 | |||||||
TOTAL NET ASSETS — 100.0% | $ | 8,335,839 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
AGM | – | Assured Guaranty Municipal Corporation | ||||||
COP | – | Certificates of Participation | ||||||
GO | – | General Obligation |
(1)Escrowed to maturity in U.S. government securities or state and local government securities.
(2)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
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.
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. Municipal securities 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.
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.
2. Fair Value Measurements
The fund's investment 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.
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 | |||||||||||
Municipal Securities | — | $ | 8,216,773 | — | |||||||
Short-Term Investments | $ | 14,206 | — | — | |||||||
$ | 14,206 | $ | 8,216,773 | — |
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.