American Century Investments®
Quarterly Portfolio Holdings
Avantis® U.S. Mid Cap Value ETF (AVMV)
May 31, 2024
| Avantis U.S. Mid Cap Value ETF - Schedule of Investments | ||
| MAY 31, 2024 (UNAUDITED) | ||
| Shares | Value ($) | |||||||
| COMMON STOCKS — 99.8% | ||||||||
| Aerospace and Defense — 0.4% | ||||||||
| BWX Technologies, Inc. | 1,104 | 101,712 | ||||||
| Air Freight and Logistics — 1.1% | ||||||||
| CH Robinson Worldwide, Inc. | 920 | 79,460 | ||||||
| Expeditors International of Washington, Inc. | 1,886 | 228,018 | ||||||
| 307,478 | ||||||||
| Automobile Components — 1.1% | ||||||||
| Autoliv, Inc. | 920 | 117,364 | ||||||
| BorgWarner, Inc. | 2,806 | 100,062 | ||||||
| Lear Corp. | 713 | 89,375 | ||||||
| 306,801 | ||||||||
| Automobiles — 0.2% | ||||||||
| Thor Industries, Inc. | 667 | 66,193 | ||||||
| Banks — 7.9% | ||||||||
| Bank OZK | 1,196 | 50,088 | ||||||
| BOK Financial Corp. | 253 | 22,927 | ||||||
| Citizens Financial Group, Inc. | 4,554 | 160,711 | ||||||
| Comerica, Inc. | 1,633 | 83,675 | ||||||
| Commerce Bancshares, Inc. | 1,082 | 60,203 | ||||||
| Cullen/Frost Bankers, Inc. | 644 | 65,418 | ||||||
| East West Bancorp, Inc. | 1,587 | 117,740 | ||||||
| Fifth Third Bancorp | 7,291 | 272,829 | ||||||
| First Horizon Corp. | 3,266 | 51,733 | ||||||
| Huntington Bancshares, Inc. | 16,054 | 223,472 | ||||||
| KeyCorp | 9,798 | 140,797 | ||||||
| M&T Bank Corp. | 1,679 | 254,536 | ||||||
| Pinnacle Financial Partners, Inc. | 897 | 71,320 | ||||||
| Popular, Inc. | 805 | 71,653 | ||||||
| Regions Financial Corp. | 9,867 | 190,926 | ||||||
| SouthState Corp. | 759 | 58,678 | ||||||
| Webster Financial Corp. | 1,932 | 85,433 | ||||||
| Western Alliance Bancorp | 1,426 | 89,881 | ||||||
| Wintrust Financial Corp. | 713 | 70,309 | ||||||
| Zions Bancorp NA | 2,024 | 87,417 | ||||||
| 2,229,746 | ||||||||
| Beverages — 0.7% | ||||||||
| Coca-Cola Consolidated, Inc. | 69 | 67,692 | ||||||
| Molson Coors Beverage Co., Class B | 2,070 | 113,457 | ||||||
National Beverage Corp.(1) | 253 | 11,688 | ||||||
| 192,837 | ||||||||
| Biotechnology — 0.5% | ||||||||
United Therapeutics Corp.(1) | 529 | 145,544 | ||||||
| Broadline Retail — 0.1% | ||||||||
| Dillard's, Inc., Class A | 46 | 20,578 | ||||||
| Building Products — 5.5% | ||||||||
| A O Smith Corp. | 1,449 | 121,194 | ||||||
| Advanced Drainage Systems, Inc. | 989 | 171,582 | ||||||
Builders FirstSource, Inc.(1) | 1,403 | 225,588 | ||||||
| Carlisle Cos., Inc. | 667 | 278,999 | ||||||
| Lennox International, Inc. | 437 | 219,636 | ||||||
| Owens Corning | 1,265 | 229,054 | ||||||
| Simpson Manufacturing Co., Inc. | 552 | 91,588 | ||||||
Trex Co., Inc.(1) | 1,265 | 109,397 | ||||||
| UFP Industries, Inc. | 897 | 107,174 | ||||||
| 1,554,212 | ||||||||
| Capital Markets — 5.0% | ||||||||
| Evercore, Inc., Class A | 437 | 88,685 | ||||||
| LPL Financial Holdings, Inc. | 764 | 218,664 | ||||||
| MarketAxess Holdings, Inc. | 121 | 24,070 | ||||||
| Northern Trust Corp. | 2,070 | 174,377 | ||||||
| Raymond James Financial, Inc. | 2,093 | 256,916 | ||||||
| SEI Investments Co. | 1,242 | 84,096 | ||||||
| State Street Corp. | 2,898 | 219,060 | ||||||
| Stifel Financial Corp. | 1,012 | 81,921 | ||||||
| T Rowe Price Group, Inc. | 2,208 | 260,169 | ||||||
| 1,407,958 | ||||||||
| Chemicals — 4.3% | ||||||||
| Albemarle Corp. | 768 | 94,149 | ||||||
| CF Industries Holdings, Inc. | 2,417 | 192,707 | ||||||
| Eastman Chemical Co. | 1,472 | 149,158 | ||||||
| LyondellBasell Industries NV, Class A | 3,220 | 320,132 | ||||||
| Mosaic Co. | 2,875 | 88,924 | ||||||
| NewMarket Corp. | 92 | 49,227 | ||||||
| Olin Corp. | 1,403 | 75,425 | ||||||
| RPM International, Inc. | 1,518 | 170,168 | ||||||
| Westlake Corp. | 437 | 70,165 | ||||||
| 1,210,055 | ||||||||
| Commercial Services and Supplies — 0.5% | ||||||||
Clean Harbors, Inc.(1) | 644 | 139,484 | ||||||
| Construction and Engineering — 1.3% | ||||||||
| Comfort Systems USA, Inc. | 414 | 135,519 | ||||||
| EMCOR Group, Inc. | 621 | 241,358 | ||||||
| 376,877 | ||||||||
| Construction Materials — 0.4% | ||||||||
| Eagle Materials, Inc. | 437 | 101,554 | ||||||
| Consumer Finance — 2.7% | ||||||||
| Ally Financial, Inc. | 3,197 | 124,587 | ||||||
Credit Acceptance Corp.(1) | 46 | 22,578 | ||||||
| Discover Financial Services | 2,875 | 352,648 | ||||||
| OneMain Holdings, Inc. | 1,357 | 66,656 | ||||||
| Synchrony Financial | 4,669 | 204,502 | ||||||
| 770,971 | ||||||||
| Consumer Staples Distribution & Retail — 1.4% | ||||||||
| Casey's General Stores, Inc. | 460 | 152,619 | ||||||
Dollar Tree, Inc.(1) | 1,311 | 154,632 | ||||||
| Kroger Co. | 1,638 | 85,782 | ||||||
| 393,033 | ||||||||
| Containers and Packaging — 3.0% | ||||||||
| AptarGroup, Inc. | 759 | 112,097 | ||||||
| Graphic Packaging Holding Co. | 3,013 | 85,328 | ||||||
| International Paper Co. | 4,025 | 181,487 | ||||||
| Packaging Corp. of America | 1,173 | 215,234 | ||||||
| Sonoco Products Co. | 1,127 | 69,164 | ||||||
| Westrock Co. | 3,519 | 188,759 | ||||||
| 852,069 | ||||||||
| Distributors — 0.6% | ||||||||
| Pool Corp. | 437 | 158,871 | ||||||
| Diversified Telecommunication Services — 0.2% | ||||||||
Frontier Communications Parent, Inc.(1) | 1,679 | 44,762 | ||||||
| Iridium Communications, Inc. | 713 | 21,469 | ||||||
| 66,231 | ||||||||
| Electrical Equipment — 0.8% | ||||||||
| Acuity Brands, Inc. | 368 | 95,537 | ||||||
| Atkore, Inc. | 506 | 76,988 | ||||||
NEXTracker, Inc., Class A(1) | 1,014 | 55,942 | ||||||
| 228,467 | ||||||||
| Electronic Equipment, Instruments and Components — 3.6% | ||||||||
Arrow Electronics, Inc.(1) | 621 | 81,544 | ||||||
| Corning, Inc. | 9,292 | 346,220 | ||||||
Flex Ltd.(1) | 5,842 | 193,545 | ||||||
Insight Enterprises, Inc.(1) | 460 | 89,930 | ||||||
| Jabil, Inc. | 1,794 | 213,307 | ||||||
| TD SYNNEX Corp. | 598 | 78,242 | ||||||
| 1,002,788 | ||||||||
| Energy Equipment and Services — 1.7% | ||||||||
| Baker Hughes Co. | 1,274 | 42,654 | ||||||
| ChampionX Corp. | 2,162 | 70,524 | ||||||
| Halliburton Co. | 1,058 | 38,829 | ||||||
| Patterson-UTI Energy, Inc. | 4,669 | 51,452 | ||||||
| TechnipFMC PLC | 5,014 | 131,317 | ||||||
Valaris Ltd.(1) | 690 | 53,406 | ||||||
Weatherford International PLC(1) | 851 | 102,409 | ||||||
| 490,591 | ||||||||
| Financial Services — 1.1% | ||||||||
| Enact Holdings, Inc. | 345 | 10,595 | ||||||
| Equitable Holdings, Inc. | 3,956 | 164,134 | ||||||
| Essent Group Ltd. | 1,104 | 62,597 | ||||||
| MGIC Investment Corp. | 3,151 | 66,171 | ||||||
| 303,497 | ||||||||
| Food Products — 0.4% | ||||||||
| Archer-Daniels-Midland Co. | 288 | 17,983 | ||||||
| Bunge Global SA | 25 | 2,690 | ||||||
| Ingredion, Inc. | 690 | 81,130 | ||||||
| 101,803 | ||||||||
| Ground Transportation — 2.0% | ||||||||
| JB Hunt Transport Services, Inc. | 1,012 | 162,679 | ||||||
| Landstar System, Inc. | 460 | 83,734 | ||||||
| Ryder System, Inc. | 713 | 86,608 | ||||||
Saia, Inc.(1) | 368 | 150,689 | ||||||
U-Haul Holding Co.(1) | 115 | 7,271 | ||||||
| U-Haul Holding Co. | 1,242 | 75,501 | ||||||
| 566,482 | ||||||||
| Health Care Providers and Services — 1.1% | ||||||||
| Ensign Group, Inc. | 644 | 78,079 | ||||||
Molina Healthcare, Inc.(1) | 713 | 224,295 | ||||||
| 302,374 | ||||||||
| Hotels, Restaurants and Leisure — 4.1% | ||||||||
| Boyd Gaming Corp. | 644 | 34,338 | ||||||
Carnival Corp.(1) | 14,904 | 224,752 | ||||||
| Churchill Downs, Inc. | 460 | 59,570 | ||||||
| Darden Restaurants, Inc. | 1,357 | 204,079 | ||||||
Norwegian Cruise Line Holdings Ltd.(1) | 4,853 | 80,560 | ||||||
Royal Caribbean Cruises Ltd.(1) | 3,059 | 451,753 | ||||||
| Texas Roadhouse, Inc. | 644 | 111,200 | ||||||
| 1,166,252 | ||||||||
| Household Durables — 3.2% | ||||||||
| Meritage Homes Corp. | 483 | 85,177 | ||||||
Mohawk Industries, Inc.(1) | 437 | 53,284 | ||||||
NVR, Inc.(1) | 23 | 176,657 | ||||||
| PulteGroup, Inc. | 2,806 | 329,200 | ||||||
Taylor Morrison Home Corp.(1) | 1,380 | 79,805 | ||||||
| Toll Brothers, Inc. | 1,380 | 167,863 | ||||||
| 891,986 | ||||||||
| Independent Power and Renewable Electricity Producers — 2.2% | ||||||||
| AES Corp. | 4,094 | 88,389 | ||||||
| Clearway Energy, Inc., Class A | 184 | 4,725 | ||||||
| Clearway Energy, Inc., Class C | 506 | 14,168 | ||||||
| Vistra Corp. | 5,060 | 501,345 | ||||||
| 608,627 | ||||||||
| Insurance — 7.1% | ||||||||
| American Financial Group, Inc. | 782 | 101,590 | ||||||
Arch Capital Group Ltd.(1) | 3,611 | 370,597 | ||||||
| Axis Capital Holdings Ltd. | 966 | 71,368 | ||||||
| CNA Financial Corp. | 230 | 10,566 | ||||||
| Everest Group Ltd. | 437 | 170,836 | ||||||
| Globe Life, Inc. | 943 | 78,043 | ||||||
| Hartford Financial Services Group, Inc. | 3,519 | 364,041 | ||||||
| Kinsale Capital Group, Inc. | 253 | 97,056 | ||||||
| Loews Corp. | 1,886 | 144,845 | ||||||
| Old Republic International Corp. | 2,691 | 85,520 | ||||||
| Primerica, Inc. | 414 | 93,518 | ||||||
| Principal Financial Group, Inc. | 87 | 7,138 | ||||||
| Reinsurance Group of America, Inc. | 690 | 144,762 | ||||||
| Unum Group | 1,840 | 99,102 | ||||||
| W R Berkley Corp. | 1,978 | 160,277 | ||||||
| 1,999,259 | ||||||||
| Leisure Products — 0.4% | ||||||||
| Brunswick Corp. | 828 | 68,335 | ||||||
| Polaris, Inc. | 713 | 59,607 | ||||||
| 127,942 | ||||||||
| Machinery — 2.8% | ||||||||
| AGCO Corp. | 805 | 86,401 | ||||||
| Donaldson Co., Inc. | 1,426 | 105,068 | ||||||
| Graco, Inc. | 1,955 | 157,866 | ||||||
| Lincoln Electric Holdings, Inc. | 644 | 126,456 | ||||||
| Mueller Industries, Inc. | 1,449 | 85,360 | ||||||
| Snap-on, Inc. | 598 | 163,170 | ||||||
| Timken Co. | 736 | 63,951 | ||||||
| 788,272 | ||||||||
| Media — 0.6% | ||||||||
| Fox Corp., Class A | 3,198 | 110,107 | ||||||
| Fox Corp., Class B | 1,728 | 55,192 | ||||||
| 165,299 | ||||||||
| Metals and Mining — 3.2% | ||||||||
ATI, Inc.(1) | 1,518 | 93,114 | ||||||
Cleveland-Cliffs, Inc.(1) | 6,532 | 112,873 | ||||||
| Commercial Metals Co. | 1,518 | 85,494 | ||||||
| Reliance, Inc. | 713 | 214,456 | ||||||
| Steel Dynamics, Inc. | 2,093 | 280,190 | ||||||
| U.S. Steel Corp. | 3,082 | 118,195 | ||||||
| 904,322 | ||||||||
| Oil, Gas and Consumable Fuels — 11.6% | ||||||||
| Antero Midstream Corp. | 3,845 | 56,329 | ||||||
Antero Resources Corp.(1) | 3,059 | 108,992 | ||||||
| APA Corp. | 3,036 | 92,689 | ||||||
| Cheniere Energy, Inc. | 267 | 42,130 | ||||||
| Chesapeake Energy Corp. | 1,334 | 121,301 | ||||||
| Chord Energy Corp. | 460 | 85,289 | ||||||
| Civitas Resources, Inc. | 1,081 | 79,518 | ||||||
| Coterra Energy, Inc. | 7,498 | 213,843 | ||||||
| Devon Energy Corp. | 6,371 | 312,689 | ||||||
| Diamondback Energy, Inc. | 1,909 | 380,387 | ||||||
EnLink Midstream LLC(1) | 2,737 | 34,733 | ||||||
| EQT Corp. | 4,600 | 189,014 | ||||||
| Hess Midstream LP, Class A | 696 | 24,186 | ||||||
| HF Sinclair Corp. | 1,748 | 96,542 | ||||||
| Magnolia Oil & Gas Corp., Class A | 1,840 | 47,748 | ||||||
| Marathon Oil Corp. | 6,785 | 196,494 | ||||||
| Matador Resources Co. | 1,334 | 84,642 | ||||||
| Murphy Oil Corp. | 1,794 | 76,765 | ||||||
| New Fortress Energy, Inc. | 874 | 22,156 | ||||||
| Ovintiv, Inc. | 3,266 | 168,754 | ||||||
| PBF Energy, Inc., Class A | 1,403 | 65,001 | ||||||
| Permian Resources Corp. | 5,727 | 93,865 | ||||||
| Range Resources Corp. | 2,714 | 100,174 | ||||||
| SM Energy Co. | 1,518 | 76,553 | ||||||
Southwestern Energy Co.(1) | 14,421 | 108,590 | ||||||
| Targa Resources Corp. | 2,254 | 266,490 | ||||||
| Texas Pacific Land Corp. | 210 | 129,005 | ||||||
| 3,273,879 | ||||||||
| Passenger Airlines — 1.4% | ||||||||
| Southwest Airlines Co. | 6,325 | 169,763 | ||||||
United Airlines Holdings, Inc.(1) | 4,163 | 220,597 | ||||||
| 390,360 | ||||||||
| Pharmaceuticals — 0.8% | ||||||||
Jazz Pharmaceuticals PLC(1) | 782 | 82,305 | ||||||
| Viatris, Inc. | 14,191 | 150,425 | ||||||
| 232,730 | ||||||||
| Professional Services — 0.4% | ||||||||
Clarivate PLC(1) | 3,174 | 18,092 | ||||||
| Robert Half, Inc. | 1,288 | 82,728 | ||||||
| 100,820 | ||||||||
| Semiconductors and Semiconductor Equipment — 3.4% | ||||||||
| Amkor Technology, Inc. | 1,426 | 46,473 | ||||||
Enphase Energy, Inc.(1) | 874 | 111,785 | ||||||
First Solar, Inc.(1) | 989 | 268,771 | ||||||
ON Semiconductor Corp.(1) | 5,083 | 371,262 | ||||||
| Skyworks Solutions, Inc. | 1,886 | 174,757 | ||||||
| 973,048 | ||||||||
| Software — 0.8% | ||||||||
Manhattan Associates, Inc.(1) | 690 | 151,482 | ||||||
Qualys, Inc.(1) | 506 | 71,154 | ||||||
| 222,636 | ||||||||
| Specialty Retail — 5.8% | ||||||||
| Best Buy Co., Inc. | 2,346 | 198,988 | ||||||
Burlington Stores, Inc.(1) | 437 | 104,902 | ||||||
CarMax, Inc.(1) | 1,978 | 138,974 | ||||||
| Dick's Sporting Goods, Inc. | 460 | 104,714 | ||||||
Five Below, Inc.(1) | 437 | 60,363 | ||||||
Floor & Decor Holdings, Inc., Class A(1) | 1,012 | 118,262 | ||||||
| Gap, Inc. | 3,013 | 87,257 | ||||||
| Murphy USA, Inc. | 276 | 121,095 | ||||||
| Tractor Supply Co. | 966 | 275,590 | ||||||
Ulta Beauty, Inc.(1) | 368 | 145,393 | ||||||
| Williams-Sonoma, Inc. | 989 | 289,995 | ||||||
| 1,645,533 | ||||||||
| Textiles, Apparel and Luxury Goods — 1.9% | ||||||||
Crocs, Inc.(1) | 414 | 64,435 | ||||||
Deckers Outdoor Corp.(1) | 299 | 327,082 | ||||||
| Ralph Lauren Corp. | 437 | 81,666 | ||||||
| Tapestry, Inc. | 1,587 | 69,019 | ||||||
| 542,202 | ||||||||
| Trading Companies and Distributors — 2.5% | ||||||||
| Applied Industrial Technologies, Inc. | 483 | 93,219 | ||||||
| MSC Industrial Direct Co., Inc., Class A | 575 | 49,393 | ||||||
| United Rentals, Inc. | 828 | 554,271 | ||||||
| 696,883 | ||||||||
TOTAL COMMON STOCKS (Cost $25,640,474) | 28,128,256 | |||||||
| SHORT-TERM INVESTMENTS — 0.1% | ||||||||
| Money Market Funds — 0.1% | ||||||||
| State Street Institutional U.S. Government Money Market Fund, Premier Class (Cost $32,807) | 32,807 | 32,807 | ||||||
TOTAL INVESTMENT SECURITIES — 99.9% (Cost $25,673,281) | 28,161,063 | |||||||
| OTHER ASSETS AND LIABILITIES — 0.1% | 23,954 | |||||||
| TOTAL NET ASSETS — 100.0% | $ | 28,185,017 | ||||||
| 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.