American Century Investments®
Quarterly Portfolio Holdings
American Century® Quality Convertible Securities ETF (QCON)
May 31, 2024
| Quality Convertible Securities ETF - Schedule of Investments | ||
| MAY 31, 2024 (UNAUDITED) | ||
Principal Amount ($)/Shares | Value ($) | |||||||
| CONVERTIBLE BONDS — 88.9% | ||||||||
| Aerospace and Defense — 1.4% | ||||||||
| Axon Enterprise, Inc., 0.50%, 12/15/27 | 435,000 | 581,377 | ||||||
| Automobiles — 2.0% | ||||||||
Ford Motor Co., 0.00%, 3/15/26(1) | 851,000 | 850,574 | ||||||
| Biotechnology — 1.9% | ||||||||
| BioMarin Pharmaceutical, Inc., 0.60%, 8/1/24 | 264,000 | 261,756 | ||||||
BioMarin Pharmaceutical, Inc., 1.25%, 5/15/27(2) | 318,000 | 298,999 | ||||||
| Exact Sciences Corp., 0.375%, 3/1/28 | 262,000 | 215,806 | ||||||
| 776,561 | ||||||||
| Commercial Services and Supplies — 0.9% | ||||||||
Tetra Tech, Inc., 2.25%, 8/15/28(3) | 310,000 | 368,264 | ||||||
| Construction and Engineering — 0.7% | ||||||||
| Granite Construction, Inc., 3.75%, 5/15/28 | 201,000 | 293,661 | ||||||
| Diversified Consumer Services — 0.9% | ||||||||
| Stride, Inc., 1.125%, 9/1/27 | 255,000 | 357,893 | ||||||
| Diversified REITs — 0.7% | ||||||||
COPT Defense Properties LP, 5.25%, 9/15/28(3) | 299,000 | 311,708 | ||||||
| Electric Utilities — 6.3% | ||||||||
Evergy, Inc., 4.50%, 12/15/27(3) | 245,000 | 249,749 | ||||||
| FirstEnergy Corp., 4.00%, 5/1/26 | 676,000 | 678,704 | ||||||
| NRG Energy, Inc., 2.75%, 9/1/25 | 290,000 | 578,176 | ||||||
| PPL Capital Funding, Inc., 2.875%, 3/15/28 | 427,000 | 417,926 | ||||||
| Southern Co., 3.875%, 12/15/25 | 650,000 | 671,288 | ||||||
| 2,595,843 | ||||||||
| Electrical Equipment — 0.5% | ||||||||
| Array Technologies, Inc., 1.00%, 12/1/28 | 230,000 | 212,923 | ||||||
| Electronic Equipment, Instruments and Components — 2.6% | ||||||||
Advanced Energy Industries, Inc., 2.50%, 9/15/28(3) | 289,000 | 298,183 | ||||||
| Insight Enterprises, Inc., 0.75%, 2/15/25 | 186,000 | 533,169 | ||||||
Itron, Inc., 0.00%, 3/15/26(1) | 249,000 | 267,052 | ||||||
| 1,098,404 | ||||||||
| Entertainment — 3.8% | ||||||||
| Cinemark Holdings, Inc., 4.50%, 8/15/25 | 223,000 | 300,782 | ||||||
Liberty Media Corp., 2.75%, 12/1/24(3) | 218,000 | 205,574 | ||||||
| Liberty Media Corp.-Liberty Formula One, 2.25%, 8/15/27 | 270,000 | 292,825 | ||||||
| Live Nation Entertainment, Inc., 2.00%, 2/15/25 | 216,000 | 223,636 | ||||||
Live Nation Entertainment, Inc., 3.125%, 1/15/29(2) | 512,000 | 568,474 | ||||||
| 1,591,291 | ||||||||
| Financial Services — 2.3% | ||||||||
| Block, Inc., 0.25%, 11/1/27 | 422,000 | 347,622 | ||||||
| Euronet Worldwide, Inc., 0.75%, 3/15/25 | 327,000 | 318,335 | ||||||
| Shift4 Payments, Inc., 0.50%, 8/1/27 | 322,000 | 297,689 | ||||||
| 963,646 | ||||||||
| Food Products — 1.2% | ||||||||
| Post Holdings, Inc., 2.50%, 8/15/27 | 450,000 | 504,000 | ||||||
| Ground Transportation — 2.2% | ||||||||
Uber Technologies, Inc., 0.00%, 12/15/25(1) | 720,000 | 738,140 | ||||||
Uber Technologies, Inc., Series 2028, 0.875%, 12/1/28(3) | 170,000 | 187,741 | ||||||
| 925,881 | ||||||||
| Health Care Equipment and Supplies — 10.5% | ||||||||
| CONMED Corp., 2.25%, 6/15/27 | 429,000 | 386,786 | ||||||
| Dexcom, Inc., 0.25%, 11/15/25 | 803,000 | 820,867 | ||||||
Enovis Corp., 3.875%, 10/15/28(3) | 236,000 | 263,022 | ||||||
Envista Holdings Corp., 1.75%, 8/15/28(3) | 276,000 | 237,360 | ||||||
Haemonetics Corp., 0.00%, 3/1/26(1) | 359,000 | 325,972 | ||||||
| Integra LifeSciences Holdings Corp., 0.50%, 8/15/25 | 317,000 | 298,059 | ||||||
| Lantheus Holdings, Inc., 2.625%, 12/15/27 | 310,000 | 391,763 | ||||||
LivaNova USA, Inc., 2.50%, 3/15/29(3) | 295,000 | 331,285 | ||||||
Merit Medical Systems, Inc., 3.00%, 2/1/29(3) | 380,000 | 430,160 | ||||||
| NuVasive, Inc., 0.375%, 3/15/25 | 249,000 | 238,106 | ||||||
| Omnicell, Inc., 0.25%, 9/15/25 | 76,000 | 71,820 | ||||||
Shockwave Medical, Inc., 1.00%, 8/15/28(3) | 446,000 | 576,121 | ||||||
| 4,371,321 | ||||||||
| Health Care REITs — 1.1% | ||||||||
Welltower OP LLC, 2.75%, 5/15/28(3) | 379,000 | 449,608 | ||||||
| Hotel & Resort REITs — 0.6% | ||||||||
| Pebblebrook Hotel Trust, 1.75%, 12/15/26 | 266,000 | 235,091 | ||||||
| Hotels, Restaurants and Leisure — 7.9% | ||||||||
Airbnb, Inc., 0.00%, 3/15/26(1) | 731,000 | 665,941 | ||||||
| Booking Holdings, Inc., 0.75%, 5/1/25 | 344,000 | 690,430 | ||||||
| Carnival Corp., 5.75%, 12/1/27 | 113,000 | 159,868 | ||||||
Expedia Group, Inc., 0.00%, 2/15/26(1) | 348,000 | 316,661 | ||||||
| Marriott Vacations Worldwide Corp., 3.25%, 12/15/27 | 221,000 | 201,220 | ||||||
| Royal Caribbean Cruises Ltd., 6.00%, 8/15/25 | 310,000 | 931,511 | ||||||
Vail Resorts, Inc., 0.00%, 1/1/26(1) | 318,000 | 288,784 | ||||||
| 3,254,415 | ||||||||
| Interactive Media and Services — 1.5% | ||||||||
| TripAdvisor, Inc., 0.25%, 4/1/26 | 358,000 | 325,869 | ||||||
| Ziff Davis, Inc., 1.75%, 11/1/26 | 297,000 | 278,809 | ||||||
| 604,678 | ||||||||
| IT Services — 3.9% | ||||||||
| Akamai Technologies, Inc., 0.125%, 5/1/25 | 114,000 | 121,923 | ||||||
| Akamai Technologies, Inc., 0.375%, 9/1/27 | 693,000 | 678,274 | ||||||
| MongoDB, Inc., 0.25%, 1/15/26 | 77,000 | 97,424 | ||||||
| Okta, Inc., 0.375%, 6/15/26 | 425,000 | 386,495 | ||||||
| Perficient, Inc., 0.125%, 11/15/26 | 364,000 | 351,078 | ||||||
| 1,635,194 | ||||||||
| Life Sciences Tools and Services — 0.6% | ||||||||
Repligen Corp., 1.00%, 12/15/28(3) | 231,000 | 229,614 | ||||||
| Machinery — 2.5% | ||||||||
| Greenbrier Cos., Inc., 2.875%, 4/15/28 | 244,000 | 278,099 | ||||||
| John Bean Technologies Corp., 0.25%, 5/15/26 | 342,000 | 313,922 | ||||||
| Middleby Corp., 1.00%, 9/1/25 | 395,000 | 434,895 | ||||||
| 1,026,916 | ||||||||
| Media — 1.2% | ||||||||
| Cable One, Inc., 1.125%, 3/15/28 | 219,000 | 161,228 | ||||||
Liberty Broadband Corp., 3.125%, 4/6/26(3) | 350,000 | 332,220 | ||||||
| 493,448 | ||||||||
| Metals and Mining — 2.1% | ||||||||
| ATI, Inc., 3.50%, 6/15/25 | 135,000 | 536,220 | ||||||
MP Materials Corp., 0.25%, 4/1/26(3) | 172,000 | 153,372 | ||||||
| U.S. Steel Corp., 5.00%, 11/1/26 | 62,000 | 178,870 | ||||||
| 868,462 | ||||||||
| Multi-Utilities — 1.4% | ||||||||
CenterPoint Energy, Inc., 4.25%, 8/15/26(3) | 562,000 | 563,405 | ||||||
| Oil, Gas and Consumable Fuels — 1.4% | ||||||||
| Pioneer Natural Resources Co., 0.25%, 5/15/25 | 198,000 | 592,547 | ||||||
| Pharmaceuticals — 2.1% | ||||||||
| Jazz Investments I Ltd., 1.50%, 8/15/24 | 210,000 | 208,005 | ||||||
Jazz Investments I Ltd., 2.00%, 6/15/26(2) | 605,000 | 579,439 | ||||||
| Revance Therapeutics, Inc., 1.75%, 2/15/27 | 117,000 | 77,454 | ||||||
| 864,898 | ||||||||
| Professional Services — 0.5% | ||||||||
CSG Systems International, Inc., 3.875%, 9/15/28(3) | 226,000 | 209,841 | ||||||
| Real Estate Management and Development — 1.6% | ||||||||
| Zillow Group, Inc., 2.75%, 5/15/25 | 660,000 | 660,990 | ||||||
| Semiconductors and Semiconductor Equipment — 1.3% | ||||||||
| MACOM Technology Solutions Holdings, Inc., 0.25%, 3/15/26 | 405,000 | 530,854 | ||||||
| Software — 16.3% | ||||||||
Alarm.com Holdings, Inc., 0.00%, 1/15/26(1) | 171,000 | 156,636 | ||||||
| Bentley Systems, Inc., 0.125%, 1/15/26 | 545,000 | 539,277 | ||||||
Box, Inc., 0.00%, 1/15/26(1) | 171,000 | 201,483 | ||||||
CyberArk Software Ltd., 0.00%, 11/15/24(1) | 186,000 | 274,071 | ||||||
| Datadog, Inc., 0.125%, 6/15/25 | 351,000 | 452,264 | ||||||
Dropbox, Inc., 0.00%, 3/1/28(1) | 221,000 | 201,386 | ||||||
| Five9, Inc., 0.50%, 6/1/25 | 385,000 | 364,980 | ||||||
| Guidewire Software, Inc., 1.25%, 3/15/25 | 123,000 | 136,776 | ||||||
| HubSpot, Inc., 0.375%, 6/1/25 | 219,000 | 474,354 | ||||||
| InterDigital, Inc., 3.50%, 6/1/27 | 125,000 | 190,700 | ||||||
| Nutanix, Inc., 0.25%, 10/1/27 | 307,000 | 349,686 | ||||||
| Palo Alto Networks, Inc., 0.375%, 6/1/25 | 288,000 | 854,784 | ||||||
| Pegasystems, Inc., 0.75%, 3/1/25 | 167,000 | 161,072 | ||||||
| Progress Software Corp., 1.00%, 4/15/26 | 297,000 | 300,250 | ||||||
Progress Software Corp., 3.50%, 3/1/30(3) | 227,000 | 222,548 | ||||||
| Rapid7, Inc., 0.25%, 3/15/27 | 233,000 | 205,040 | ||||||
Rapid7, Inc., 1.25%, 3/15/29(3) | 198,000 | 175,883 | ||||||
| Tyler Technologies, Inc., 0.25%, 3/15/26 | 561,000 | 596,904 | ||||||
| Varonis Systems, Inc., 1.25%, 8/15/25 | 200,000 | 295,900 | ||||||
Workiva, Inc., 1.25%, 8/15/28(3) | 356,000 | 318,442 | ||||||
| Zscaler, Inc., 0.125%, 7/1/25 | 216,000 | 267,732 | ||||||
| 6,740,168 | ||||||||
| Specialty Retail — 1.8% | ||||||||
| Guess?, Inc., 3.75%, 4/15/28 | 196,000 | 234,122 | ||||||
Match Group Financeco 2, Inc., 0.875%, 6/15/26(3) | 289,000 | 262,152 | ||||||
Match Group Financeco 3, Inc., 2.00%, 1/15/30(3) | 292,000 | 239,323 | ||||||
| 735,597 | ||||||||
| Technology Hardware, Storage and Peripherals — 2.2% | ||||||||
Seagate HDD Cayman, 3.50%, 6/1/28(3) | 639,000 | 808,016 | ||||||
Xerox Holdings Corp., 3.75%, 3/15/30(3) | 127,000 | 110,839 | ||||||
| 918,855 | ||||||||
| Water Utilities — 1.0% | ||||||||
American Water Capital Corp., 3.625%, 6/15/26(3) | 405,000 | 399,634 | ||||||
TOTAL CONVERTIBLE BONDS (Cost $35,698,632) | 36,817,562 | |||||||
| CONVERTIBLE PREFERRED STOCKS — 10.4% | ||||||||
| Banks — 5.5% | ||||||||
| Bank of America Corp., 7.25% | 869 | 1,036,152 | ||||||
Wells Fargo & Co., 7.50%(2) | 1,057 | 1,237,316 | ||||||
| 2,273,468 | ||||||||
| Capital Markets — 0.8% | ||||||||
| AMG Capital Trust II, 5.15%, 10/15/37 | 6,239 | 317,285 | ||||||
| Electric Utilities — 1.9% | ||||||||
NextEra Energy, Inc., 6.93%, 9/1/25(2) | 17,889 | 812,250 | ||||||
| Financial Services — 1.6% | ||||||||
Apollo Global Management, Inc., 6.75%, 7/31/26(2) | 10,453 | 678,609 | ||||||
| Machinery — 0.6% | ||||||||
| Chart Industries, Inc., 6.75%, 12/15/25 | 4,163 | 254,317 | ||||||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $4,083,948) | 4,335,929 | |||||||
| SHORT-TERM INVESTMENTS — 6.9% | ||||||||
| Money Market Funds — 6.9% | ||||||||
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 93,820 | 93,820 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(4) | 2,757,625 | 2,757,625 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $2,851,445) | 2,851,445 | |||||||
TOTAL INVESTMENT SECURITIES — 106.2% (Cost $42,634,025) | 44,004,936 | |||||||
| OTHER ASSETS AND LIABILITIES — (6.2)% | (2,577,754) | |||||||
| TOTAL NET ASSETS — 100.0% | $ | 41,427,182 | ||||||
| NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
(1)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $2,739,450. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(3)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 $7,934,064, which represented 19.2% of total net assets.
(4)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $2,795,139, which includes securities collateral of $37,514.
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.
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. Convertible bonds 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.
Hybrid 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. Preferred stocks and convertible preferred stocks with perpetual maturities 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. 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.
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 | |||||||||||
| Convertible Bonds | — | $ | 36,817,562 | — | |||||||
| Convertible Preferred Stocks | $ | 1,250,211 | 3,085,718 | — | |||||||
| Short-Term Investments | 2,851,445 | — | — | ||||||||
| $ | 4,101,656 | $ | 39,903,280 | — | |||||||
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.