American Century Investments®
Quarterly Portfolio Holdings
Avantis® U.S. Large Cap Value Fund
May 31, 2024
| Avantis U.S. Large Cap Value Fund - Schedule of Investments | ||
| MAY 31, 2024 (UNAUDITED) | ||
| Shares | Value ($) | |||||||
| COMMON STOCKS — 100.6% | ||||||||
| Aerospace and Defense — 0.4% | ||||||||
| BWX Technologies, Inc. | 5,188 | 477,971 | ||||||
| Huntington Ingalls Industries, Inc. | 2,623 | 663,881 | ||||||
| 1,141,852 | ||||||||
| Air Freight and Logistics — 1.5% | ||||||||
| Expeditors International of Washington, Inc. | 6,771 | 818,614 | ||||||
| FedEx Corp. | 5,846 | 1,484,650 | ||||||
| United Parcel Service, Inc., Class B | 12,821 | 1,781,222 | ||||||
| 4,084,486 | ||||||||
| Automobile Components — 0.4% | ||||||||
| Autoliv, Inc. | 3,802 | 485,021 | ||||||
| BorgWarner, Inc. | 9,740 | 347,328 | ||||||
| Lear Corp. | 2,267 | 284,169 | ||||||
| 1,116,518 | ||||||||
| Automobiles — 1.3% | ||||||||
| Ford Motor Co. | 108,023 | 1,310,319 | ||||||
| General Motors Co. | 37,896 | 1,704,941 | ||||||
| Harley-Davidson, Inc. | 8,393 | 301,141 | ||||||
| Thor Industries, Inc. | 2,420 | 240,161 | ||||||
| 3,556,562 | ||||||||
| Banks — 6.9% | ||||||||
| BOK Financial Corp. | 1,107 | 100,316 | ||||||
| Citizens Financial Group, Inc. | 7,192 | 253,806 | ||||||
| Comerica, Inc. | 8,562 | 438,717 | ||||||
| Commerce Bancshares, Inc. | 4,960 | 275,974 | ||||||
| Cullen/Frost Bankers, Inc. | 2,979 | 302,607 | ||||||
| East West Bancorp, Inc. | 9,997 | 741,677 | ||||||
| Fifth Third Bancorp | 34,707 | 1,298,736 | ||||||
| Huntington Bancshares, Inc. | 51,050 | 710,616 | ||||||
| JPMorgan Chase & Co. | 35,279 | 7,148,584 | ||||||
| Popular, Inc. | 4,153 | 369,659 | ||||||
| Regions Financial Corp. | 34,866 | 674,657 | ||||||
| Synovus Financial Corp. | 9,002 | 357,289 | ||||||
| U.S. Bancorp | 29,883 | 1,211,756 | ||||||
| Webster Financial Corp. | 4,684 | 207,127 | ||||||
| Wells Fargo & Co. | 59,895 | 3,588,908 | ||||||
| Western Alliance Bancorp | 7,187 | 452,997 | ||||||
| Wintrust Financial Corp. | 2,707 | 266,937 | ||||||
| Zions Bancorp NA | 9,347 | 403,697 | ||||||
| 18,804,060 | ||||||||
| Beverages — 0.2% | ||||||||
| Coca-Cola Consolidated, Inc. | 395 | 387,511 | ||||||
National Beverage Corp.(1) | 1,234 | 57,011 | ||||||
| 444,522 | ||||||||
| Biotechnology — 0.8% | ||||||||
| Gilead Sciences, Inc. | 27,805 | 1,787,027 | ||||||
United Therapeutics Corp.(1) | 1,815 | 499,361 | ||||||
| 2,286,388 | ||||||||
| Broadline Retail — 2.6% | ||||||||
Amazon.com, Inc.(1) | 26,109 | 4,606,672 | ||||||
| Dillard's, Inc., Class A | 116 | 51,893 | ||||||
| Macy's, Inc. | 18,401 | 358,451 | ||||||
MercadoLibre, Inc.(1) | 1,199 | 2,068,970 | ||||||
| 7,085,986 | ||||||||
| Building Products — 2.4% | ||||||||
| A O Smith Corp. | 7,014 | 586,651 | ||||||
| Advanced Drainage Systems, Inc. | 5,025 | 871,787 | ||||||
| Armstrong World Industries, Inc. | 3,975 | 460,305 | ||||||
Builders FirstSource, Inc.(1) | 7,025 | 1,129,550 | ||||||
| Carlisle Cos., Inc. | 2,837 | 1,186,689 | ||||||
| Owens Corning | 5,518 | 999,144 | ||||||
| Simpson Manufacturing Co., Inc. | 1,900 | 315,248 | ||||||
Trex Co., Inc.(1) | 7,773 | 672,209 | ||||||
| UFP Industries, Inc. | 3,936 | 470,273 | ||||||
| 6,691,856 | ||||||||
| Capital Markets — 2.2% | ||||||||
| Ameriprise Financial, Inc. | 4,687 | 2,046,391 | ||||||
| Bank of New York Mellon Corp. | 19,814 | 1,181,112 | ||||||
| Goldman Sachs Group, Inc. | 2,892 | 1,320,256 | ||||||
| Jefferies Financial Group, Inc. | 11,121 | 517,349 | ||||||
| Northern Trust Corp. | 4,228 | 356,167 | ||||||
| Raymond James Financial, Inc. | 4,475 | 549,306 | ||||||
| 5,970,581 | ||||||||
| Chemicals — 2.5% | ||||||||
| CF Industries Holdings, Inc. | 8,366 | 667,021 | ||||||
| Chemours Co. | 8,554 | 212,310 | ||||||
| Dow, Inc. | 32,107 | 1,850,327 | ||||||
| Eastman Chemical Co. | 4,495 | 455,478 | ||||||
| LyondellBasell Industries NV, Class A | 12,915 | 1,284,009 | ||||||
| Mosaic Co. | 13,912 | 430,298 | ||||||
| NewMarket Corp. | 617 | 330,138 | ||||||
| Olin Corp. | 8,314 | 446,961 | ||||||
| RPM International, Inc. | 7,775 | 871,578 | ||||||
| Westlake Corp. | 1,862 | 298,963 | ||||||
| 6,847,083 | ||||||||
| Construction and Engineering — 0.8% | ||||||||
| Comfort Systems USA, Inc. | 1,957 | 640,604 | ||||||
| EMCOR Group, Inc. | 3,077 | 1,195,907 | ||||||
| MDU Resources Group, Inc. | 15,425 | 389,327 | ||||||
| 2,225,838 | ||||||||
| Construction Materials — 0.4% | ||||||||
| Eagle Materials, Inc. | 2,798 | 650,227 | ||||||
| Martin Marietta Materials, Inc. | 682 | 390,159 | ||||||
| 1,040,386 | ||||||||
| Consumer Finance — 1.5% | ||||||||
| Ally Financial, Inc. | 19,264 | 750,718 | ||||||
| Capital One Financial Corp. | 12,313 | 1,694,638 | ||||||
| OneMain Holdings, Inc. | 8,125 | 399,100 | ||||||
| Synchrony Financial | 26,891 | 1,177,826 | ||||||
| 4,022,282 | ||||||||
| Consumer Staples Distribution & Retail — 7.1% | ||||||||
BJ's Wholesale Club Holdings, Inc.(1) | 6,804 | 599,228 | ||||||
| Casey's General Stores, Inc. | 2,204 | 731,243 | ||||||
| Costco Wholesale Corp. | 8,201 | 6,641,908 | ||||||
Dollar Tree, Inc.(1) | 11,979 | 1,412,923 | ||||||
| Kroger Co. | 32,963 | 1,726,273 | ||||||
Sprouts Farmers Market, Inc.(1) | 8,639 | 682,308 | ||||||
| Target Corp. | 18,250 | 2,849,920 | ||||||
| Walmart, Inc. | 73,208 | 4,814,158 | ||||||
| 19,457,961 | ||||||||
| Containers and Packaging — 1.2% | ||||||||
| Graphic Packaging Holding Co. | 20,584 | 582,939 | ||||||
| International Paper Co. | 17,386 | 783,935 | ||||||
| Packaging Corp. of America | 4,651 | 853,412 | ||||||
| Sonoco Products Co. | 3,152 | 193,438 | ||||||
| Westrock Co. | 15,689 | 841,558 | ||||||
| 3,255,282 | ||||||||
| Distributors — 0.2% | ||||||||
| Pool Corp. | 1,479 | 537,690 | ||||||
| Diversified Telecommunication Services — 2.8% | ||||||||
| AT&T, Inc. | 159,210 | 2,900,806 | ||||||
Frontier Communications Parent, Inc.(1) | 19,319 | 515,044 | ||||||
| Verizon Communications, Inc. | 100,004 | 4,115,165 | ||||||
| 7,531,015 | ||||||||
| Electrical Equipment — 0.3% | ||||||||
| Acuity Brands, Inc. | 1,875 | 486,769 | ||||||
| Atkore, Inc. | 2,866 | 436,062 | ||||||
| 922,831 | ||||||||
| Electronic Equipment, Instruments and Components — 0.7% | ||||||||
Arrow Electronics, Inc.(1) | 907 | 119,098 | ||||||
Insight Enterprises, Inc.(1) | 2,128 | 416,024 | ||||||
| Jabil, Inc. | 6,702 | 796,868 | ||||||
| TD SYNNEX Corp. | 3,429 | 448,650 | ||||||
| 1,780,640 | ||||||||
| Energy Equipment and Services — 1.1% | ||||||||
| Baker Hughes Co. | 21,925 | 734,049 | ||||||
| ChampionX Corp. | 6,890 | 224,752 | ||||||
| Halliburton Co. | 24,149 | 886,268 | ||||||
| Patterson-UTI Energy, Inc. | 11,028 | 121,528 | ||||||
| TechnipFMC PLC | 22,347 | 585,268 | ||||||
Weatherford International PLC(1) | 4,202 | 505,669 | ||||||
| 3,057,534 | ||||||||
| Financial Services — 0.6% | ||||||||
| Equitable Holdings, Inc. | 22,162 | 919,502 | ||||||
| Essent Group Ltd. | 4,963 | 281,402 | ||||||
| Jackson Financial, Inc., Class A | 1,813 | 137,806 | ||||||
| MGIC Investment Corp. | 17,903 | 375,963 | ||||||
| 1,714,673 | ||||||||
| Food Products — 0.7% | ||||||||
| Archer-Daniels-Midland Co. | 10,358 | 646,754 | ||||||
| Bunge Global SA | 6,287 | 676,418 | ||||||
| Flowers Foods, Inc. | 2,018 | 46,858 | ||||||
| Hershey Co. | 509 | 100,695 | ||||||
| Ingredion, Inc. | 4,574 | 537,811 | ||||||
| 2,008,536 | ||||||||
| Ground Transportation — 4.3% | ||||||||
| CSX Corp. | 74,834 | 2,525,648 | ||||||
| JB Hunt Transport Services, Inc. | 4,080 | 655,860 | ||||||
| Landstar System, Inc. | 2,223 | 404,653 | ||||||
| Norfolk Southern Corp. | 8,399 | 1,888,095 | ||||||
| Old Dominion Freight Line, Inc. | 7,412 | 1,298,953 | ||||||
| Ryder System, Inc. | 3,271 | 397,328 | ||||||
Saia, Inc.(1) | 1,596 | 653,530 | ||||||
| Schneider National, Inc., Class B | 2,178 | 48,961 | ||||||
U-Haul Holding Co.(1) | 313 | 19,791 | ||||||
| U-Haul Holding Co. | 3,106 | 188,814 | ||||||
| Union Pacific Corp. | 15,611 | 3,634,553 | ||||||
| 11,716,186 | ||||||||
| Health Care Equipment and Supplies — 0.0% | ||||||||
IDEXX Laboratories, Inc.(1) | 26 | 12,921 | ||||||
| Health Care Providers and Services — 0.7% | ||||||||
Centene Corp.(1) | 11,000 | 787,490 | ||||||
| Ensign Group, Inc. | 2,188 | 265,273 | ||||||
Molina Healthcare, Inc.(1) | 2,611 | 821,368 | ||||||
| 1,874,131 | ||||||||
| Hotels, Restaurants and Leisure — 2.3% | ||||||||
| Boyd Gaming Corp. | 3,314 | 176,703 | ||||||
Carnival Corp.(1) | 42,521 | 641,217 | ||||||
Chipotle Mexican Grill, Inc.(1) | 658 | 2,059,224 | ||||||
| Darden Restaurants, Inc. | 4,288 | 644,872 | ||||||
| Las Vegas Sands Corp. | 2,572 | 115,817 | ||||||
Norwegian Cruise Line Holdings Ltd.(1) | 20,269 | 336,465 | ||||||
Royal Caribbean Cruises Ltd.(1) | 10,361 | 1,530,113 | ||||||
| Texas Roadhouse, Inc. | 4,251 | 734,020 | ||||||
| 6,238,431 | ||||||||
| Household Durables — 2.3% | ||||||||
| DR Horton, Inc. | 6,399 | 945,772 | ||||||
| Installed Building Products, Inc. | 1,425 | 301,872 | ||||||
| KB Home | 4,483 | 316,500 | ||||||
| Lennar Corp., B Shares | 381 | 55,725 | ||||||
| Lennar Corp., Class A | 8,227 | 1,319,200 | ||||||
Mohawk Industries, Inc.(1) | 2,796 | 340,916 | ||||||
NVR, Inc.(1) | 134 | 1,029,218 | ||||||
| PulteGroup, Inc. | 8,500 | 997,220 | ||||||
Taylor Morrison Home Corp.(1) | 6,892 | 398,564 | ||||||
| Toll Brothers, Inc. | 5,137 | 624,865 | ||||||
| 6,329,852 | ||||||||
| Independent Power and Renewable Electricity Producers — 0.4% | ||||||||
| AES Corp. | 47,038 | 1,015,550 | ||||||
| Insurance — 6.2% | ||||||||
| Aflac, Inc. | 11,094 | 997,018 | ||||||
| American Financial Group, Inc. | 4,048 | 525,876 | ||||||
| American International Group, Inc. | 25,810 | 2,034,344 | ||||||
Arch Capital Group Ltd.(1) | 12,225 | 1,254,652 | ||||||
| Axis Capital Holdings Ltd. | 6,039 | 446,161 | ||||||
| Everest Group Ltd. | 1,842 | 720,093 | ||||||
| Hartford Financial Services Group, Inc. | 17,430 | 1,803,133 | ||||||
Markel Group, Inc.(1) | 193 | 316,827 | ||||||
| MetLife, Inc. | 22,712 | 1,643,667 | ||||||
| Old Republic International Corp. | 6,151 | 195,479 | ||||||
| Primerica, Inc. | 2,468 | 557,497 | ||||||
| Principal Financial Group, Inc. | 8,081 | 662,965 | ||||||
| Prudential Financial, Inc. | 13,396 | 1,612,209 | ||||||
| Reinsurance Group of America, Inc. | 3,303 | 692,969 | ||||||
| RenaissanceRe Holdings Ltd. | 1,772 | 403,768 | ||||||
| Travelers Cos., Inc. | 10,685 | 2,304,754 | ||||||
| Unum Group | 7,746 | 417,200 | ||||||
| W R Berkley Corp. | 5,706 | 462,357 | ||||||
| 17,050,969 | ||||||||
| Interactive Media and Services — 5.0% | ||||||||
Alphabet, Inc., Class A(1) | 23,028 | 3,972,330 | ||||||
Alphabet, Inc., Class C(1) | 19,184 | 3,337,249 | ||||||
| Meta Platforms, Inc., Class A | 13,804 | 6,444,121 | ||||||
| 13,753,700 | ||||||||
| IT Services — 0.1% | ||||||||
DXC Technology Co.(1) | 10,265 | 159,621 | ||||||
| Leisure Products — 0.2% | ||||||||
| Brunswick Corp. | 3,275 | 270,286 | ||||||
| Polaris, Inc. | 2,472 | 206,659 | ||||||
| 476,945 | ||||||||
| Machinery — 4.6% | ||||||||
| AGCO Corp. | 3,180 | 341,309 | ||||||
| Caterpillar, Inc. | 12,306 | 4,165,827 | ||||||
| Cummins, Inc. | 6,575 | 1,852,375 | ||||||
| Deere & Co. | 5,341 | 2,001,593 | ||||||
| Donaldson Co., Inc. | 7,772 | 572,641 | ||||||
| Lincoln Electric Holdings, Inc. | 3,165 | 621,479 | ||||||
| Mueller Industries, Inc. | 7,854 | 462,679 | ||||||
| PACCAR, Inc. | 21,309 | 2,290,718 | ||||||
| Timken Co. | 4,250 | 369,283 | ||||||
| 12,677,904 | ||||||||
| Media — 1.2% | ||||||||
| Comcast Corp., Class A | 64,928 | 2,599,068 | ||||||
| Fox Corp., Class A | 11,974 | 412,265 | ||||||
| Fox Corp., Class B | 5,900 | 188,446 | ||||||
| 3,199,779 | ||||||||
| Metals and Mining — 2.0% | ||||||||
| Alpha Metallurgical Resources, Inc. | 719 | 226,780 | ||||||
ATI, Inc.(1) | 2,962 | 181,689 | ||||||
Cleveland-Cliffs, Inc.(1) | 30,975 | 535,248 | ||||||
| Commercial Metals Co. | 8,266 | 465,541 | ||||||
| Nucor Corp. | 10,213 | 1,724,465 | ||||||
| Reliance, Inc. | 2,698 | 811,504 | ||||||
| Steel Dynamics, Inc. | 8,610 | 1,152,621 | ||||||
| U.S. Steel Corp. | 8,731 | 334,834 | ||||||
| 5,432,682 | ||||||||
| Oil, Gas and Consumable Fuels — 12.4% | ||||||||
| Antero Midstream Corp. | 13,801 | 202,185 | ||||||
Antero Resources Corp.(1) | 11,488 | 409,317 | ||||||
| APA Corp. | 11,411 | 348,378 | ||||||
| Cheniere Energy, Inc. | 6,811 | 1,074,708 | ||||||
| Chesapeake Energy Corp. | 4,947 | 449,831 | ||||||
| Chevron Corp. | 16,421 | 2,665,128 | ||||||
| Chord Energy Corp. | 1,700 | 315,197 | ||||||
| Civitas Resources, Inc. | 4,009 | 294,902 | ||||||
| ConocoPhillips | 19,318 | 2,250,161 | ||||||
| Coterra Energy, Inc. | 24,711 | 704,758 | ||||||
| Devon Energy Corp. | 13,889 | 681,672 | ||||||
| Diamondback Energy, Inc. | 6,711 | 1,337,234 | ||||||
EnLink Midstream LLC(1) | 11,186 | 141,950 | ||||||
| EOG Resources, Inc. | 11,001 | 1,370,175 | ||||||
| EQT Corp. | 12,785 | 525,336 | ||||||
| Equitrans Midstream Corp. | 26,180 | 373,850 | ||||||
| Exxon Mobil Corp. | 50,181 | 5,884,224 | ||||||
| Hess Corp. | 6,575 | 1,013,208 | ||||||
| Hess Midstream LP, Class A | 3,886 | 135,039 | ||||||
| HF Sinclair Corp. | 6,921 | 382,247 | ||||||
Magnolia Oil & Gas Corp., Class A(2) | 3,813 | 98,947 | ||||||
| Marathon Oil Corp. | 19,813 | 573,784 | ||||||
| Marathon Petroleum Corp. | 11,184 | 1,975,206 | ||||||
| Matador Resources Co. | 4,920 | 312,174 | ||||||
| Murphy Oil Corp. | 5,812 | 248,695 | ||||||
New Fortress Energy, Inc.(2) | 5,398 | 136,839 | ||||||
| Occidental Petroleum Corp. | 13,733 | 858,313 | ||||||
| ONEOK, Inc. | 11,569 | 937,089 | ||||||
| Ovintiv, Inc. | 12,048 | 622,520 | ||||||
| PBF Energy, Inc., Class A | 4,526 | 209,690 | ||||||
| Permian Resources Corp. | 19,552 | 320,457 | ||||||
| Phillips 66 | 11,724 | 1,666,098 | ||||||
| Range Resources Corp. | 10,639 | 392,685 | ||||||
| SM Energy Co. | 6,800 | 342,924 | ||||||
Southwestern Energy Co.(1) | 52,497 | 395,302 | ||||||
| Targa Resources Corp. | 8,456 | 999,753 | ||||||
| Texas Pacific Land Corp. | 711 | 436,774 | ||||||
| Valero Energy Corp. | 9,613 | 1,510,587 | ||||||
| Williams Cos., Inc. | 31,780 | 1,319,188 | ||||||
| 33,916,525 | ||||||||
| Passenger Airlines — 1.3% | ||||||||
Alaska Air Group, Inc.(1) | 7,149 | 300,401 | ||||||
| Delta Air Lines, Inc. | 28,818 | 1,470,294 | ||||||
| Southwest Airlines Co. | 35,783 | 960,416 | ||||||
United Airlines Holdings, Inc.(1) | 18,171 | 962,881 | ||||||
| 3,693,992 | ||||||||
| Pharmaceuticals — 2.2% | ||||||||
Jazz Pharmaceuticals PLC(1) | 2,172 | 228,603 | ||||||
| Johnson & Johnson | 35,460 | 5,200,918 | ||||||
| Viatris, Inc. | 68,197 | 722,888 | ||||||
| 6,152,409 | ||||||||
| Professional Services — 0.5% | ||||||||
| Paychex, Inc. | 7,747 | 930,879 | ||||||
| Robert Half, Inc. | 7,273 | 467,145 | ||||||
| 1,398,024 | ||||||||
| Semiconductors and Semiconductor Equipment — 4.8% | ||||||||
| Amkor Technology, Inc. | 9,491 | 309,311 | ||||||
| Applied Materials, Inc. | 21,197 | 4,559,051 | ||||||
Enphase Energy, Inc.(1) | 570 | 72,903 | ||||||
| Lam Research Corp. | 3,478 | 3,243,026 | ||||||
| QUALCOMM, Inc. | 20,854 | 4,255,259 | ||||||
| Skyworks Solutions, Inc. | 8,639 | 800,490 | ||||||
| 13,240,040 | ||||||||
| Software — 0.1% | ||||||||
Qualys, Inc.(1) | 2,342 | 329,332 | ||||||
| Specialty Retail — 4.0% | ||||||||
Abercrombie & Fitch Co., Class A(1) | 3,412 | 589,833 | ||||||
| Academy Sports & Outdoors, Inc. | 4,257 | 245,586 | ||||||
| Best Buy Co., Inc. | 8,340 | 707,399 | ||||||
Burlington Stores, Inc.(1) | 3,648 | 875,702 | ||||||
| Dick's Sporting Goods, Inc. | 2,589 | 589,360 | ||||||
Floor & Decor Holdings, Inc., Class A(1) | 4,598 | 537,322 | ||||||
| Gap, Inc. | 14,785 | 428,174 | ||||||
| Murphy USA, Inc. | 1,014 | 444,893 | ||||||
| Ross Stores, Inc. | 9,720 | 1,358,467 | ||||||
| TJX Cos., Inc. | 24,681 | 2,544,611 | ||||||
| Tractor Supply Co. | 3,891 | 1,110,063 | ||||||
Ulta Beauty, Inc.(1) | 1,702 | 672,443 | ||||||
| Williams-Sonoma, Inc. | 3,289 | 964,401 | ||||||
| 11,068,254 | ||||||||
| Technology Hardware, Storage and Peripherals — 2.4% | ||||||||
| Apple, Inc. | 33,999 | 6,536,308 | ||||||
| Textiles, Apparel and Luxury Goods — 1.7% | ||||||||
Crocs, Inc.(1) | 3,581 | 557,347 | ||||||
Deckers Outdoor Corp.(1) | 812 | 888,263 | ||||||
Lululemon Athletica, Inc.(1) | 3,400 | 1,060,766 | ||||||
| NIKE, Inc., Class B | 7,540 | 716,677 | ||||||
| Ralph Lauren Corp. | 2,058 | 384,599 | ||||||
Skechers USA, Inc., Class A(1) | 5,584 | 398,809 | ||||||
| Tapestry, Inc. | 16,006 | 696,101 | ||||||
| VF Corp. | 5,259 | 69,840 | ||||||
| 4,772,402 | ||||||||
| Trading Companies and Distributors — 2.6% | ||||||||
| Air Lease Corp. | 5,865 | 279,409 | ||||||
| Applied Industrial Technologies, Inc. | 1,469 | 283,517 | ||||||
| Boise Cascade Co. | 2,993 | 410,909 | ||||||
| Fastenal Co. | 28,249 | 1,863,869 | ||||||
| MSC Industrial Direct Co., Inc., Class A | 2,570 | 220,763 | ||||||
| United Rentals, Inc. | 3,010 | 2,014,924 | ||||||
| WW Grainger, Inc. | 2,081 | 1,917,558 | ||||||
| 6,990,949 | ||||||||
| Wireless Telecommunication Services — 0.7% | ||||||||
| T-Mobile U.S., Inc. | 10,419 | 1,822,908 | ||||||
TOTAL COMMON STOCKS (Cost $240,461,122) | 275,444,376 | |||||||
| SHORT-TERM INVESTMENTS — 0.6% | ||||||||
| Money Market Funds — 0.6% | ||||||||
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 1,487,428 | 1,487,428 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 174,798 | 174,798 | ||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $1,662,226) | 1,662,226 | |||||||
TOTAL INVESTMENT SECURITIES — 101.2% (Cost $242,123,348) | 277,106,602 | |||||||
| OTHER ASSETS AND LIABILITIES — (1.2)% | (3,415,181) | |||||||
| TOTAL NET ASSETS — 100.0% | $ | 273,691,421 | ||||||
| FUTURES CONTRACTS PURCHASED | ||||||||||||||
| Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
| S&P 500 E-Mini | 3 | June 2024 | $ | 794,325 | $ | 15,558 | ||||||||
^Amount represents value and unrealized appreciation (depreciation).
| NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $170,574. 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)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $174,798.
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. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
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.