American Century Investments®
Quarterly Portfolio Holdings
Avantis® Real Estate ETF (AVRE)
May 31, 2024
Avantis Real Estate ETF - Schedule of Investments | ||
MAY 31, 2024 (UNAUDITED) |
Shares | Value ($) | |||||||
COMMON STOCKS — 99.8% | ||||||||
Data Center REITs — 7.9% | ||||||||
Digital Core REIT Management Pte. Ltd. | 397,900 | 231,130 | ||||||
Digital Realty Trust, Inc. | 89,180 | 12,961,421 | ||||||
Equinix, Inc. | 27,656 | 21,100,975 | ||||||
Keppel DC REIT(1) | 467,500 | 624,906 | ||||||
34,918,432 | ||||||||
Diversified REITs — 7.8% | ||||||||
Abrdn Property Income Trust Ltd. | 89,046 | 59,483 | ||||||
AEW U.K. REIT PLC | 45,076 | 50,206 | ||||||
AKIS Gayrimenkul Yatirimi AS | 127,510 | 70,028 | ||||||
Alarko Gayrimenkul Yatirim Ortakligi AS(2) | 75,732 | 99,460 | ||||||
Alexander & Baldwin, Inc. | 20,639 | 346,735 | ||||||
Argosy Property Ltd. | 123,203 | 82,343 | ||||||
Asce Gayrimenkul Yatirim Ortakligi AS(2) | 48,833 | 20,952 | ||||||
Balanced Commercial Property Trust Ltd. | 210,716 | 209,942 | ||||||
British Land Co. PLC | 333,054 | 1,873,230 | ||||||
Broadstone Net Lease, Inc. | 51,168 | 785,429 | ||||||
Centuria Capital Group | 240,041 | 277,624 | ||||||
Charter Hall Group | 161,312 | 1,312,095 | ||||||
Charter Hall Long Wale REIT | 220,597 | 511,760 | ||||||
Custodian Property Income Reit PLC | 152,620 | 141,824 | ||||||
D&D Platform REIT Co. Ltd. | 117 | 299 | ||||||
Daiwa House REIT Investment Corp. | 776 | 1,228,167 | ||||||
ESCON Japan Reit Investment Corp. | 63 | 48,812 | ||||||
Fibra Uno Administracion SA de CV | 1,231,666 | 1,742,256 | ||||||
Fuzul Gayrimenkul Yatirim Ortakligi AS(2) | 60,676 | 26,052 | ||||||
Gladstone Commercial Corp. | 11,080 | 159,441 | ||||||
GPT Group | 736,754 | 2,066,822 | ||||||
Growthpoint Properties Ltd. | 45,321 | 26,605 | ||||||
H&R Real Estate Investment Trust | 55,691 | 375,918 | ||||||
Hankyu Hanshin REIT, Inc. | 166 | 140,349 | ||||||
Heiwa Real Estate REIT, Inc. | 263 | 218,888 | ||||||
Hulic Reit, Inc. | 268 | 246,083 | ||||||
Is Gayrimenkul Yatirim Ortakligi AS(2) | 370,074 | 190,991 | ||||||
KDX Realty Investment Corp. | 1,434 | 1,384,657 | ||||||
Kiler Gayrimenkul Yatirim Ortakligi AS(2) | 265,322 | 46,594 | ||||||
Land Securities Group PLC | 234,674 | 1,969,991 | ||||||
Lar Espana Real Estate Socimi SA | 3,487 | 26,750 | ||||||
LondonMetric Property PLC | 783,112 | 2,060,321 | ||||||
Menivim- The New REIT Ltd. | 186,917 | 84,844 | ||||||
Merlin Properties Socimi SA | 154,292 | 1,859,862 | ||||||
Mirvac Group | 1,506,647 | 1,978,806 | ||||||
Mori Trust Reit, Inc. | 871 | 387,823 | ||||||
Nomura Real Estate Master Fund, Inc. | 1,579 | 1,483,708 | ||||||
NTT UD REIT Investment Corp. | 479 | 357,050 | ||||||
Nurol Gayrimenkul Yatirim Ortakligi AS(2) | 27,860 | 6,728 | ||||||
Ozak Gayrimenkul Yatirim Ortakligi(2) | 481,217 | 127,708 | ||||||
Peker Gayrimenkul Yatirim Ortakligi AS(2) | 171,446 | 41,079 | ||||||
Pera Yatirim Holding AS(2) | 36,652 | 28,447 | ||||||
PRO Real Estate Investment Trust | 16 | 60 | ||||||
Redefine Properties Ltd.(1) | 3,585,726 | 689,247 |
Reit 1 Ltd. | 97,775 | 367,885 | ||||||
SA Corporate Real Estate Ltd. | 669,376 | 89,453 | ||||||
Schroder Real Estate Investment Trust Ltd. | 147,771 | 82,120 | ||||||
Sekisui House Reit, Inc. | 1,460 | 761,700 | ||||||
Servet Gayrimenkul Yatirim Ortakligi AS(2) | 9,426 | 84,427 | ||||||
Shinhan Seobu T&D REIT Co. Ltd. | 4,818 | 15,331 | ||||||
SK REITs Co. Ltd. | 26,477 | 86,725 | ||||||
Star Asia Investment Corp. | 1,041 | 390,506 | ||||||
Stockland | 944,009 | 2,844,583 | ||||||
Stride Property Group | 55,376 | 43,577 | ||||||
Tokaido REIT, Inc. | 90 | 70,139 | ||||||
Tokyu REIT, Inc. | 308 | 304,579 | ||||||
Torunlar Gayrimenkul Yatirim Ortakligi AS(2) | 107,790 | 159,237 | ||||||
Tosei REIT Investment Corp. | 40 | 34,555 | ||||||
United Urban Investment Corp. | 1,176 | 1,048,054 | ||||||
WP Carey, Inc. | 54,015 | 3,046,446 | ||||||
XYMAX REIT Investment Corp. | 91 | 69,351 | ||||||
Ziraat Gayrimenkul Yatirim Ortakligi AS | 381,968 | 96,791 | ||||||
34,440,928 | ||||||||
Gaming REITs — 1.9% | ||||||||
VICI Properties, Inc. | 292,645 | 8,401,838 | ||||||
Health Care REITs — 8.0% | ||||||||
Aedifica SA | 17,491 | 1,137,586 | ||||||
Assura PLC | 845,128 | 448,192 | ||||||
CareTrust REIT, Inc. | 40,580 | 1,037,631 | ||||||
Cofinimmo SA | 12,257 | 811,767 | ||||||
Community Healthcare Trust, Inc. | 6,533 | 153,264 | ||||||
First Real Estate Investment Trust | 375,400 | 66,593 | ||||||
Health Care & Medical Investment Corp. | 192 | 156,851 | ||||||
HealthCo REIT | 144,665 | 108,693 | ||||||
Healthpeak Properties, Inc. | 197,801 | 3,936,240 | ||||||
Impact Healthcare Reit PLC | 96,349 | 108,817 | ||||||
LTC Properties, Inc. | 14,870 | 511,528 | ||||||
National Health Investors, Inc. | 16,908 | 1,117,281 | ||||||
Omega Healthcare Investors, Inc. | 79,886 | 2,582,714 | ||||||
Parkway Life Real Estate Investment Trust | 131,300 | 348,137 | ||||||
Primary Health Properties PLC | 148 | 177 | ||||||
Sabra Health Care REIT, Inc. | 41,822 | 609,765 | ||||||
Universal Health Realty Income Trust | 350 | 13,153 | ||||||
Ventas, Inc. | 106,644 | 5,359,927 | ||||||
Vital Healthcare Property Trust | 104,302 | 123,328 | ||||||
Welltower, Inc. | 164,940 | 17,099,330 | ||||||
35,730,974 | ||||||||
Hotel & Resort REITs — 2.5% | ||||||||
Apple Hospitality REIT, Inc. | 64,059 | 925,012 | ||||||
CapitaLand Ascott Trust | 978,500 | 649,394 | ||||||
CDL Hospitality Trusts | 287,500 | 209,026 | ||||||
DiamondRock Hospitality Co. | 46,362 | 392,686 | ||||||
Far East Hospitality Trust | 373,900 | 174,496 | ||||||
Frasers Hospitality Trust | 181,600 | 57,753 | ||||||
Hoshino Resorts REIT, Inc. | 72 | 237,686 | ||||||
Host Hotels & Resorts, Inc. | 206,308 | 3,701,166 | ||||||
Hotel Property Investments Ltd. | 49,746 | 107,860 | ||||||
Ichigo Hotel REIT Investment Corp. | 102 | 71,953 | ||||||
Invincible Investment Corp. | 1,931 | 839,426 | ||||||
Japan Hotel REIT Investment Corp. | 1,672 | 832,697 |
Marti Gayrimenkul Yatirim Ortakligi AS(2) | 92,678 | 16,044 | ||||||
Nippon Hotel & Residential Investment Corp. | 50 | 23,546 | ||||||
Ryman Hospitality Properties, Inc. | 18,782 | 1,973,425 | ||||||
Sunstone Hotel Investors, Inc. | 70,281 | 722,489 | ||||||
10,934,659 | ||||||||
Industrial REITs — 18.3% | ||||||||
Advance Logistics Investment Corp. | 229 | 178,363 | ||||||
AIMS APAC REIT | 256,350 | 242,822 | ||||||
Americold Realty Trust, Inc. | 87,266 | 2,327,384 | ||||||
CapitaLand Ascendas REIT | 1,380,100 | 2,674,343 | ||||||
Centuria Industrial REIT | 225,135 | 476,820 | ||||||
CRE Logistics REIT, Inc. | 194 | 180,156 | ||||||
Dexus Industria REIT | 57,123 | 114,569 | ||||||
Dream Industrial Real Estate Investment Trust | 49,620 | 446,706 | ||||||
EastGroup Properties, Inc. | 14,062 | 2,322,761 | ||||||
Equites Property Fund Ltd. | 408,781 | 283,732 | ||||||
ESR Kendall Square REIT Co. Ltd. | 97,914 | 341,953 | ||||||
ESR-LOGOS REIT | 1,755,627 | 376,883 | ||||||
FIBRA Macquarie Mexico | 401,429 | 750,262 | ||||||
First Industrial Realty Trust, Inc. | 36,638 | 1,726,383 | ||||||
Frasers Logistics & Commercial Trust | 1,126,300 | 827,204 | ||||||
GLP J-Reit | 1,524 | 1,267,178 | ||||||
Goodman Group | 617,999 | 13,889,212 | ||||||
Goodman Property Trust | 396,294 | 533,891 | ||||||
Granite Real Estate Investment Trust | 9,946 | 491,991 | ||||||
Industrial & Infrastructure Fund Investment Corp. | 618 | 493,165 | ||||||
Innovative Industrial Properties, Inc. | 9,311 | 1,003,540 | ||||||
Japan Logistics Fund, Inc. | 270 | 466,861 | ||||||
LaSalle Logiport REIT | 562 | 528,040 | ||||||
LXP Industrial Trust | 77,721 | 660,628 | ||||||
Mapletree Industrial Trust | 817,300 | 1,334,903 | ||||||
Mapletree Logistics Trust | 1,180,500 | 1,167,855 | ||||||
Mitsubishi Estate Logistics REIT Investment Corp. | 156 | 380,153 | ||||||
Mitsui Fudosan Logistics Park, Inc. | 174 | 487,946 | ||||||
Montea NV | 6,326 | 576,978 | ||||||
Nippon Prologis REIT, Inc. | 736 | 1,214,878 | ||||||
Prologis Property Mexico SA de CV | 284,945 | 1,156,642 | ||||||
Prologis, Inc. | 241,165 | 26,646,321 | ||||||
Rexford Industrial Realty, Inc. | 66,817 | 3,030,819 | ||||||
Reysas Gayrimenkul Yatirim Ortakligi AS(2) | 42,965 | 53,954 | ||||||
Sabana Industrial Real Estate Investment Trust | 36,100 | 9,619 | ||||||
Segro PLC | 373,125 | 4,381,728 | ||||||
SOSiLA Logistics REIT, Inc. | 258 | 195,971 | ||||||
STAG Industrial, Inc. | 56,400 | 1,977,384 | ||||||
Terreno Realty Corp. | 25,763 | 1,457,671 | ||||||
TF Administradora Industrial S de Real de CV | 339,511 | 764,407 | ||||||
Tritax Big Box REIT PLC | 737,085 | 1,491,383 | ||||||
Urban Logistics REIT PLC | 143,601 | 218,317 | ||||||
Warehouse Reit PLC | 129,915 | 134,956 | ||||||
Warehouses De Pauw CVA | 61,899 | 1,814,229 | ||||||
81,100,961 | ||||||||
Multi-Family Residential REITs — 9.4% | ||||||||
Adra Gayrimenkul Yatirim Ortakligi AS(2) | 24,898 | 20,678 | ||||||
Advance Residence Investment Corp. | 496 | 1,021,612 | ||||||
Altarea SCA(1) | 1,946 | 225,986 | ||||||
Apartment Income REIT Corp. | 31,861 | 1,234,614 |
AvalonBay Communities, Inc. | 40,984 | 7,896,797 | ||||||
Boardwalk Real Estate Investment Trust | 9,240 | 477,067 | ||||||
BSR Real Estate Investment Trust | 7,687 | 88,717 | ||||||
Camden Property Trust | 29,269 | 3,004,463 | ||||||
Canadian Apartment Properties REIT | 30,493 | 997,827 | ||||||
Care Property Invest NV | 13,867 | 209,917 | ||||||
Comforia Residential REIT, Inc. | 243 | 497,344 | ||||||
Daiwa Securities Living Investments Corp. | 723 | 477,819 | ||||||
Elme Communities | 26,472 | 407,933 | ||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi AS(2) | 793,506 | 217,804 | ||||||
Empiric Student Property PLC | 209,927 | 242,816 | ||||||
Equity Residential | 108,587 | 7,061,413 | ||||||
Essex Property Trust, Inc. | 19,665 | 5,108,770 | ||||||
Home Invest Belgium SA | 4,392 | 90,095 | ||||||
Independence Realty Trust, Inc. | 36,201 | 604,557 | ||||||
Ingenia Communities Group | 148,216 | 478,959 | ||||||
InterRent Real Estate Investment Trust | 25,065 | 219,947 | ||||||
Irish Residential Properties REIT PLC | 261,035 | 272,278 | ||||||
Killam Apartment Real Estate Investment Trust | 23,401 | 296,172 | ||||||
Mid-America Apartment Communities, Inc. | 32,121 | 4,294,899 | ||||||
Minto Apartment Real Estate Investment Trust | 8,583 | 92,823 | ||||||
Nippon Accommodations Fund, Inc. | 200 | 808,590 | ||||||
UDR, Inc. | 93,105 | 3,595,715 | ||||||
UNITE Group PLC | 140,120 | 1,671,326 | ||||||
Veris Residential, Inc. | 711 | 10,871 | ||||||
41,627,809 | ||||||||
Office REITs — 5.4% | ||||||||
Alexandria Real Estate Equities, Inc. | 49,341 | 5,871,579 | ||||||
Allied Properties Real Estate Investment Trust | 276 | 3,420 | ||||||
alstria office REIT-AG | 21,991 | 82,003 | ||||||
AREIT, Inc. | 236,910 | 134,385 | ||||||
Champion REIT | 463,000 | 96,089 | ||||||
Cousins Properties, Inc. | 2,724 | 63,006 | ||||||
Daiwa Office Investment Corp. | 388 | 686,847 | ||||||
Derwent London PLC | 43,922 | 1,308,853 | ||||||
Dexus | 348,230 | 1,579,894 | ||||||
Embassy Office Parks REIT | 477,982 | 2,003,400 | ||||||
GDI Property Group Partnership | 95,870 | 38,322 | ||||||
Gecina SA | 30,007 | 3,238,876 | ||||||
Great Portland Estates PLC | 95,761 | 423,389 | ||||||
Halk Gayrimenkul Yatirim Ortakligi AS | 415,515 | 38,316 | ||||||
Japan Excellent, Inc. | 481 | 368,170 | ||||||
Japan Prime Realty Investment Corp. | 265 | 554,185 | ||||||
Japan Real Estate Investment Corp. | 525 | 1,731,213 | ||||||
JR Global Reit | 104,257 | 310,689 | ||||||
Keppel REIT | 806,700 | 511,737 | ||||||
Mindspace Business Parks REIT | 96,917 | 398,196 | ||||||
Mori Hills REIT Investment Corp. | 494 | 411,753 | ||||||
NET Lease Office Properties | 31 | 736 | ||||||
Nippon Building Fund, Inc. | 627 | 2,341,505 | ||||||
NSI NV(1) | 6,666 | 141,614 | ||||||
Orix JREIT, Inc. | 1,118 | 1,133,673 | ||||||
Postal Realty Trust, Inc., Class A | 5,082 | 67,997 | ||||||
Precinct Properties Group(1) | 414,405 | 296,757 | ||||||
Real Commercial REIT, Inc. | 392,400 | 33,579 | ||||||
Vakif Gayrimenkul Yatirim Ortakligi AS(2) | 766,699 | 51,917 |
Workspace Group PLC | 17,169 | 118,028 | ||||||
24,040,128 | ||||||||
Other Specialized REITs — 2.1% | ||||||||
Arena REIT | 126,693 | 317,100 | ||||||
Automotive Properties Real Estate Investment Trust | 4,779 | 35,379 | ||||||
Charter Hall Social Infrastructure REIT | 126,239 | 204,262 | ||||||
Four Corners Property Trust, Inc. | 21,296 | 519,836 | ||||||
Gaming & Leisure Properties, Inc. | 77,097 | 3,461,655 | ||||||
Iron Mountain, Inc. | 23,051 | 1,859,985 | ||||||
Koramco Life Infra Reit | 10,293 | 34,850 | ||||||
Lamar Advertising Co., Class A | 24,764 | 2,924,876 | ||||||
Rural Funds Group | 117,573 | 156,957 | ||||||
9,514,900 | ||||||||
Retail REITs — 16.6% | ||||||||
AEON REIT Investment Corp. | 519 | 439,857 | ||||||
Agree Realty Corp. | 26,360 | 1,601,634 | ||||||
BWP Trust | 215,160 | 536,179 | ||||||
CapitaLand Integrated Commercial Trust | 1,930,900 | 2,812,475 | ||||||
Carmila SA | 39,062 | 754,246 | ||||||
Charter Hall Retail REIT | 222,467 | 486,372 | ||||||
Choice Properties Real Estate Investment Trust | 54,632 | 509,062 | ||||||
Crombie Real Estate Investment Trust | 16,494 | 152,723 | ||||||
CT Real Estate Investment Trust | 17,096 | 170,088 | ||||||
Essential Properties Realty Trust, Inc. | 47,014 | 1,259,035 | ||||||
Eurocommercial Properties NV | 19,218 | 482,021 | ||||||
Federal Realty Investment Trust | 24,444 | 2,467,622 | ||||||
First Capital Real Estate Investment Trust | 38,495 | 405,865 | ||||||
Frasers Centrepoint Trust | 347,300 | 558,792 | ||||||
Frontier Real Estate Investment Corp. | 203 | 577,949 | ||||||
Fukuoka REIT Corp. | 290 | 298,203 | ||||||
Getty Realty Corp. | 13,516 | 373,177 | ||||||
Hamborner REIT AG | 70,586 | 509,306 | ||||||
HMC Capital Ltd. | 102,679 | 496,033 | ||||||
HomeCo Daily Needs REIT | 604,473 | 489,351 | ||||||
Hyprop Investments Ltd. | 208,620 | 304,419 | ||||||
IGB Real Estate Investment Trust | 255,500 | 98,344 | ||||||
InvenTrust Properties Corp. | 21,182 | 524,678 | ||||||
Japan Metropolitan Fund Invest | 509 | 299,794 | ||||||
Kimco Realty Corp. | 189,349 | 3,665,797 | ||||||
Kite Realty Group Trust | 70,434 | 1,543,913 | ||||||
Klepierre SA | 145,317 | 4,217,958 | ||||||
Lendlease Global Commercial REIT | 556,854 | 229,185 | ||||||
Link REIT | 910,928 | 3,840,849 | ||||||
LOTTE Reit Co. Ltd. | 78,899 | 192,975 | ||||||
Mapletree Pan Asia Commercial Trust | 739,100 | 670,472 | ||||||
Mercialys SA | 61,344 | 775,236 | ||||||
NETSTREIT Corp. | 20,024 | 347,416 | ||||||
NNN REIT, Inc. | 54,352 | 2,270,283 | ||||||
Paragon REIT | 493,100 | 312,177 | ||||||
Pavilion Real Estate Investment Trust | 601,100 | 185,198 | ||||||
Phillips Edison & Co., Inc. | 34,636 | 1,106,274 | ||||||
Primaris Real Estate Investment Trust | 17,718 | 172,247 | ||||||
Realty Income Corp. | 225,470 | 11,963,438 | ||||||
Regency Centers Corp. | 50,658 | 3,110,401 | ||||||
Region RE Ltd. | 397,791 | 567,068 | ||||||
Resilient REIT Ltd. | 176,573 | 401,283 |
Retail Estates NV | 4,643 | 329,589 | ||||||
RioCan Real Estate Investment Trust | 56,883 | 721,602 | ||||||
Sasseur Real Estate Investment Trust | 133,900 | 67,461 | ||||||
Shaftesbury Capital PLC | 466,918 | 875,700 | ||||||
Simon Property Group, Inc. | 91,978 | 13,917,191 | ||||||
SITE Centers Corp. | 63,038 | 909,008 | ||||||
SmartCentres Real Estate Investment Trust | 25,373 | 416,259 | ||||||
Starhill Global REIT | 447,000 | 158,756 | ||||||
Supermarket Income Reit PLC | 377,800 | 360,289 | ||||||
Tanger, Inc. | 37,358 | 1,036,684 | ||||||
Vastned Retail NV | 1 | 27 | ||||||
Vicinity Ltd. | 1,420,197 | 1,856,451 | ||||||
Vukile Property Fund Ltd. | 546,945 | 429,299 | ||||||
Waypoint REIT Ltd. | 277,835 | 438,578 | ||||||
Wereldhave NV | 11,176 | 170,726 | ||||||
73,867,015 | ||||||||
Self Storage REITs — 6.0% | ||||||||
Big Yellow Group PLC | 70,761 | 1,132,439 | ||||||
CubeSmart | 63,112 | 2,670,269 | ||||||
Extra Space Storage, Inc. | 58,064 | 8,405,925 | ||||||
National Storage REIT | 426,450 | 638,817 | ||||||
Public Storage | 45,637 | 12,496,780 | ||||||
Safestore Holdings PLC | 71,460 | 825,938 | ||||||
Shurgard Self Storage Ltd. | 11,628 | 513,675 | ||||||
Stor-Age Property REIT Ltd.(1) | 80,552 | 57,517 | ||||||
26,741,360 | ||||||||
Single-Family Residential REITs — 3.9% | ||||||||
American Homes 4 Rent, Class A | 94,576 | 3,408,519 | ||||||
Equity LifeStyle Properties, Inc. | 48,002 | 3,013,086 | ||||||
Flagship Communities REIT | 715 | 10,653 | ||||||
Invitation Homes, Inc. | 178,741 | 6,218,399 | ||||||
PRS REIT PLC | 187,053 | 184,443 | ||||||
Sun Communities, Inc. | 36,520 | 4,308,995 | ||||||
UMH Properties, Inc. | 15,491 | 234,224 | ||||||
17,378,319 | ||||||||
Telecom Tower REITs — 10.0% | ||||||||
American Tower Corp. | 134,781 | 26,382,033 | ||||||
Crown Castle, Inc. | 120,146 | 12,314,965 | ||||||
SBA Communications Corp. | 27,913 | 5,489,929 | ||||||
44,186,927 | ||||||||
TOTAL COMMON STOCKS (Cost $463,353,633) | 442,884,250 | |||||||
RIGHTS — 0.0% | ||||||||
Office REITs — 0.0% | ||||||||
Great Portland Estates PLC(2) (Cost $104,183) | 57,456 | 78,338 | ||||||
SHORT-TERM INVESTMENTS — 0.3% | ||||||||
Money Market Funds — 0.3% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 535,454 | 535,454 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 705,631 | 705,631 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,241,085) | 1,241,085 | |||||||
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $464,698,901) | 444,203,673 | |||||||
OTHER ASSETS AND LIABILITIES — (0.1)% | (239,404) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 443,964,269 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
CVA | – | Certificaten Van Aandelen |
(1)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $1,277,572. 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.
(2)Non-income producing.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $1,472,501, which includes securities collateral of $766,870.
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.
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 | |||||||||||
Common Stocks | |||||||||||
Data Center REITs | $ | 34,062,396 | $ | 856,036 | — | ||||||
Diversified REITs | 4,338,051 | 30,102,877 | — | ||||||||
Health Care REITs | 32,420,833 | 3,310,141 | — | ||||||||
Hotel & Resort REITs | 7,714,778 | 3,219,881 | — | ||||||||
Industrial REITs | 41,152,891 | 39,948,070 | — | ||||||||
Multi-Family Residential REITs | 33,220,032 | 8,407,777 | — | ||||||||
Office REITs | 6,003,318 | 18,036,810 | — | ||||||||
Other Specialized REITs | 8,766,352 | 748,548 | — | ||||||||
Retail REITs | 46,096,551 | 27,770,464 | — | ||||||||
Self Storage REITs | 23,572,974 | 3,168,386 | — | ||||||||
Single-Family Residential REITs | 17,183,223 | 195,096 | — | ||||||||
Other REITs | 52,588,765 | — | — | ||||||||
Rights | — | 78,338 | — | ||||||||
Short-Term Investments | 1,241,085 | — | — | ||||||||
$ | 308,361,249 | $ | 135,842,424 | — |
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.