American Century Investments®
Quarterly Portfolio Holdings
Avantis® U.S. Small Cap Value ETF (AVUV)
November 30, 2024
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| Avantis U.S. Small Cap Value ETF - Schedule of Investments |
| NOVEMBER 30, 2024 (UNAUDITED) |
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| Shares | Value ($) |
| COMMON STOCKS — 99.6% | | |
| Air Freight and Logistics — 0.7% | | |
Air Transport Services Group, Inc.(1) | 1,942,530 | | 42,657,959 | |
| Hub Group, Inc., Class A | 1,212,635 | | 62,620,471 | |
Radiant Logistics, Inc.(1) | 259,145 | | 1,938,405 | |
| | 107,216,835 | |
| Automobile Components — 2.3% | | |
American Axle & Manufacturing Holdings, Inc.(1) | 3,173,222 | | 20,974,997 | |
| Dana, Inc. | 3,664,034 | | 36,640,340 | |
Gentherm, Inc.(1) | 170,582 | | 7,181,502 | |
Goodyear Tire & Rubber Co.(1) | 8,512,733 | | 91,426,753 | |
| LCI Industries | 527,116 | | 63,680,884 | |
| Lear Corp. | 143,343 | | 14,024,679 | |
Motorcar Parts of America, Inc.(1) | 182,452 | | 1,330,075 | |
| Patrick Industries, Inc. | 118,780 | | 15,962,844 | |
| Phinia, Inc. | 1,150,921 | | 64,543,650 | |
| Standard Motor Products, Inc. | 390,497 | | 12,839,541 | |
Stoneridge, Inc.(1) | 249,668 | | 1,712,723 | |
Visteon Corp.(1) | 381,415 | | 35,612,719 | |
| | 365,930,707 | |
| Automobiles — 1.3% | | |
| Harley-Davidson, Inc. | 2,929,837 | | 98,530,418 | |
| Thor Industries, Inc. | 769,390 | | 85,863,924 | |
| Winnebago Industries, Inc. | 471,155 | | 27,581,414 | |
| | 211,975,756 | |
| Banks — 18.6% | | |
| 1st Source Corp. | 79,137 | | 5,135,200 | |
| ACNB Corp. | 78,866 | | 3,695,661 | |
| Amalgamated Financial Corp. | 416,113 | | 14,826,106 | |
| Amerant Bancorp, Inc. | 301,604 | | 7,500,891 | |
| Ameris Bancorp | 527,997 | | 37,107,629 | |
| Ames National Corp. | 5,545 | | 94,210 | |
| Arrow Financial Corp. | 257,682 | | 8,498,352 | |
| Associated Banc-Corp. | 1,479,319 | | 39,483,024 | |
Axos Financial, Inc.(1) | 1,118,600 | | 92,676,010 | |
| Banc of California, Inc. | 251,008 | | 4,324,868 | |
| BancFirst Corp. | 5,676 | | 716,765 | |
Bancorp, Inc.(1) | 963,786 | | 56,314,016 | |
| Bank First Corp. | 27,886 | | 2,980,177 | |
| Bank of Hawaii Corp. | 578,523 | | 45,691,747 | |
| Bank of Marin Bancorp | 105,271 | | 2,661,251 | |
| Bank of NT Butterfield & Son Ltd. | 890,566 | | 33,779,168 | |
| Bank OZK | 1,766,283 | | 88,261,162 | |
| Bank7 Corp. | 26,417 | | 1,259,034 | |
| BankFinancial Corp. | 54,322 | | 726,828 | |
| BankUnited, Inc. | 1,395,775 | | 58,720,254 | |
| Bankwell Financial Group, Inc. | 35,439 | | 1,174,803 | |
| Banner Corp. | 602,626 | | 44,949,873 | |
| Bar Harbor Bankshares | 220,989 | | 7,953,394 | |
| BayCom Corp. | 50,273 | | 1,457,414 | |
| BCB Bancorp, Inc. | 161,965 | | 2,149,276 | |
| | | | | | | | |
| Berkshire Hills Bancorp, Inc. | 490,263 | | 14,943,216 | |
Bridgewater Bancshares, Inc.(1) | 251,495 | | 3,747,276 | |
| Brookline Bancorp, Inc. | 1,457,673 | | 18,352,103 | |
| Business First Bancshares, Inc. | 422,505 | | 12,041,392 | |
| Byline Bancorp, Inc. | 505,201 | | 15,873,415 | |
| C&F Financial Corp. | 7,838 | | 564,101 | |
California BanCorp(1) | 10,469 | | 187,604 | |
| Camden National Corp. | 167,482 | | 7,890,077 | |
| Capital Bancorp, Inc. | 50,462 | | 1,461,380 | |
| Capital City Bank Group, Inc. | 161,104 | | 6,341,053 | |
Carter Bankshares, Inc.(1) | 279,544 | | 5,221,882 | |
| Cathay General Bancorp | 1,260,309 | | 65,548,671 | |
| CB Financial Services, Inc. | 18,576 | | 594,153 | |
| Central Pacific Financial Corp. | 525,288 | | 16,767,193 | |
| Chemung Financial Corp. | 8,611 | | 450,614 | |
| ChoiceOne Financial Services, Inc. | 42,252 | | 1,583,605 | |
| Citizens Financial Services, Inc. | 13,691 | | 966,722 | |
| City Holding Co. | 45,912 | | 6,029,164 | |
| Civista Bancshares, Inc. | 142,388 | | 3,257,837 | |
| CNB Financial Corp. | 367,644 | | 10,260,944 | |
Coastal Financial Corp.(1) | 127,470 | | 9,757,828 | |
| Colony Bankcorp, Inc. | 78,154 | | 1,377,855 | |
| Columbia Banking System, Inc. | 2,429,248 | | 75,330,980 | |
| Comerica, Inc. | 37,614 | | 2,717,612 | |
| Community Trust Bancorp, Inc. | 280,557 | | 16,547,252 | |
| Community West Bancshares | 76,645 | | 1,680,058 | |
| ConnectOne Bancorp, Inc. | 641,672 | | 17,645,980 | |
CrossFirst Bankshares, Inc.(1) | 757,706 | | 13,115,891 | |
Customers Bancorp, Inc.(1) | 630,737 | | 35,605,104 | |
| CVB Financial Corp. | 260,584 | | 6,102,877 | |
| Dime Community Bancshares, Inc. | 633,688 | | 22,736,725 | |
| Eagle Bancorp, Inc. | 502,666 | | 14,758,274 | |
| Eastern Bankshares, Inc. | 249,977 | | 4,659,571 | |
| Enterprise Bancorp, Inc. | 45,984 | | 1,700,948 | |
| Enterprise Financial Services Corp. | 667,570 | | 40,448,066 | |
| Equity Bancshares, Inc., Class A | 60,600 | | 2,908,194 | |
| Esquire Financial Holdings, Inc. | 131,693 | | 10,231,229 | |
Evans Bancorp, Inc.(2) | 49,727 | | 2,208,376 | |
| Farmers National Banc Corp. | 215,721 | | 3,376,034 | |
| FB Financial Corp. | 77,709 | | 4,386,673 | |
| Fidelity D&D Bancorp, Inc. | 2,248 | | 120,718 | |
| Financial Institutions, Inc. | 285,396 | | 7,751,355 | |
| First BanCorp | 3,131,941 | | 64,768,540 | |
| First Bancorp, Inc. | 19,888 | | 568,200 | |
| First Bancorp/Southern Pines NC | 54,049 | | 2,556,518 | |
| First Bancshares, Inc. | 320,791 | | 11,914,178 | |
| First Bank | 165,520 | | 2,448,041 | |
| First Busey Corp. | 935,918 | | 24,979,651 | |
| First Business Financial Services, Inc. | 84,096 | | 4,214,892 | |
| First Commonwealth Financial Corp. | 1,637,326 | | 30,830,849 | |
| First Community Bankshares, Inc. | 22,657 | | 1,046,074 | |
| First Financial Bancorp | 90,631 | | 2,676,333 | |
| First Financial Corp. | 192,627 | | 9,407,903 | |
| First Foundation, Inc. | 380,996 | | 3,028,918 | |
| | | | | | | | |
| First Guaranty Bancshares, Inc. | 3,844 | | 55,008 | |
| First Internet Bancorp | 82,663 | | 3,466,060 | |
| First Interstate BancSystem, Inc., Class A | 95,162 | | 3,327,815 | |
| First Merchants Corp. | 392,096 | | 17,154,200 | |
| First Mid Bancshares, Inc. | 359,501 | | 15,102,637 | |
| First of Long Island Corp. | 365,421 | | 5,287,642 | |
| First United Corp. | 38,853 | | 1,384,721 | |
First Western Financial, Inc.(1) | 3,274 | | 72,716 | |
| Five Star Bancorp | 199,881 | | 6,586,079 | |
| Flushing Financial Corp. | 453,642 | | 8,047,609 | |
| FNB Corp. | 2,809,392 | | 48,181,073 | |
| Franklin Financial Services Corp. | 19,728 | | 659,704 | |
| FS Bancorp, Inc. | 70,426 | | 3,359,320 | |
| Fulton Financial Corp. | 2,417,471 | | 52,169,024 | |
FVCBankcorp, Inc.(1) | 30,379 | | 436,850 | |
| German American Bancorp, Inc. | 27,638 | | 1,243,157 | |
| Great Southern Bancorp, Inc. | 170,756 | | 10,940,337 | |
| Guaranty Bancshares, Inc. | 41,614 | | 1,532,227 | |
| Hancock Whitney Corp. | 1,339,865 | | 79,561,184 | |
| Hanmi Financial Corp. | 582,773 | | 15,414,346 | |
| HarborOne Bancorp, Inc. | 251,589 | | 3,240,466 | |
| Hawthorn Bancshares, Inc. | 20,652 | | 669,125 | |
| HBT Financial, Inc. | 106,261 | | 2,544,951 | |
| Heartland Financial USA, Inc. | 279,824 | | 18,907,708 | |
| Heritage Commerce Corp. | 947,827 | | 10,065,923 | |
| Heritage Financial Corp. | 162,254 | | 4,291,618 | |
| Hilltop Holdings, Inc. | 288,185 | | 9,121,055 | |
| Hingham Institution For Savings | 9,219 | | 2,611,374 | |
| Home Bancorp, Inc. | 57,451 | | 2,914,489 | |
HomeStreet, Inc.(1) | 149,473 | | 1,775,739 | |
| HomeTrust Bancshares, Inc. | 266,586 | | 9,887,675 | |
| Hope Bancorp, Inc. | 1,972,743 | | 26,868,760 | |
| Horizon Bancorp, Inc. | 438,841 | | 8,026,402 | |
| Independent Bank Corp. | 347,274 | | 25,139,165 | |
| Independent Bank Corp. (Michigan) | 419,718 | | 15,793,988 | |
| Independent Bank Group, Inc. | 285,626 | | 19,114,092 | |
| International Bancshares Corp. | 1,058,373 | | 77,398,817 | |
| Investar Holding Corp. | 47,209 | | 1,124,518 | |
| Kearny Financial Corp. | 262,016 | | 2,075,167 | |
| Lakeland Financial Corp. | 69,162 | | 5,080,641 | |
| Live Oak Bancshares, Inc. | 88,135 | | 4,177,599 | |
| MainStreet Bancshares, Inc. | 1,734 | | 32,235 | |
| Mercantile Bank Corp. | 309,219 | | 15,476,411 | |
| Meridian Corp. | 442 | | 7,470 | |
| Metrocity Bankshares, Inc. | 231,554 | | 7,951,564 | |
Metropolitan Bank Holding Corp.(1) | 195,394 | | 12,688,886 | |
| Mid Penn Bancorp, Inc. | 207,533 | | 6,651,433 | |
| Midland States Bancorp, Inc. | 388,454 | | 10,429,990 | |
| MidWestOne Financial Group, Inc. | 146,244 | | 4,818,740 | |
| MVB Financial Corp. | 86,258 | | 1,861,448 | |
| National Bank Holdings Corp., Class A | 363,764 | | 17,366,093 | |
| National Bankshares, Inc. | 253 | | 8,121 | |
| NBT Bancorp, Inc. | 254,080 | | 12,734,490 | |
| Nicolet Bankshares, Inc. | 3,363 | | 374,638 | |
| | | | | | | | |
| Northeast Bank | 135,645 | | 13,354,250 | |
| Northfield Bancorp, Inc. | 548,644 | | 7,340,857 | |
| Northrim BanCorp, Inc. | 98,725 | | 8,398,536 | |
| Northwest Bancshares, Inc. | 1,147,233 | | 16,841,380 | |
| Norwood Financial Corp. | 9,627 | | 297,474 | |
| Oak Valley Bancorp | 18,564 | | 578,454 | |
| OceanFirst Financial Corp. | 967,600 | | 20,009,968 | |
| OFG Bancorp | 922,553 | | 41,902,357 | |
| Old National Bancorp | 2,881,473 | | 66,734,915 | |
| Old Second Bancorp, Inc. | 823,355 | | 15,314,403 | |
| OP Bancorp | 70,049 | | 1,213,599 | |
| Orange County Bancorp, Inc. | 40,772 | | 2,431,642 | |
| Origin Bancorp, Inc. | 478,007 | | 16,424,321 | |
| Orrstown Financial Services, Inc. | 184,033 | | 7,269,303 | |
| Pacific Premier Bancorp, Inc. | 616,337 | | 17,503,971 | |
| Parke Bancorp, Inc. | 63,376 | | 1,496,307 | |
| Pathward Financial, Inc. | 496,705 | | 41,663,615 | |
| PCB Bancorp | 86,249 | | 1,853,491 | |
| Peapack-Gladstone Financial Corp. | 275,092 | | 9,941,825 | |
| Penns Woods Bancorp, Inc. | 29,212 | | 942,963 | |
| Peoples Bancorp of North Carolina, Inc. | 18,211 | | 582,934 | |
| Peoples Bancorp, Inc. | 596,786 | | 20,935,253 | |
| Peoples Financial Services Corp. | 9,479 | | 523,146 | |
| Plumas Bancorp | 801 | | 40,130 | |
| Popular, Inc. | 332,246 | | 33,011,963 | |
| Preferred Bank | 131,917 | | 12,443,731 | |
| Premier Financial Corp. | 621,728 | | 17,228,083 | |
| Primis Financial Corp. | 86,378 | | 1,079,725 | |
Provident Bancorp, Inc.(1) | 14,328 | | 167,208 | |
| Provident Financial Services, Inc. | 1,009,696 | | 21,324,780 | |
| QCR Holdings, Inc. | 307,437 | | 28,318,022 | |
| RBB Bancorp | 280,082 | | 6,682,757 | |
| Red River Bancshares, Inc. | 6,892 | | 413,865 | |
| Renasant Corp. | 64,079 | | 2,410,652 | |
| Republic Bancorp, Inc., Class A | 150,459 | | 11,476,260 | |
| Riverview Bancorp, Inc. | 114,334 | | 637,984 | |
| S&T Bancorp, Inc. | 582,864 | | 24,940,751 | |
| Sandy Spring Bancorp, Inc. | 738,183 | | 27,814,735 | |
| ServisFirst Bancshares, Inc. | 131,626 | | 12,607,138 | |
| Shore Bancshares, Inc. | 334,709 | | 5,505,963 | |
| Sierra Bancorp | 100,572 | | 3,165,001 | |
| Simmons First National Corp., Class A | 207,657 | | 5,079,290 | |
| SmartFinancial, Inc. | 218,346 | | 7,917,226 | |
| South Plains Financial, Inc. | 197,718 | | 7,689,253 | |
Southern First Bancshares, Inc.(1) | 73,865 | | 3,301,027 | |
| Southern Missouri Bancorp, Inc. | 164,692 | | 10,812,030 | |
| Southside Bancshares, Inc. | 200,454 | | 7,039,944 | |
| Stellar Bancorp, Inc. | 490,492 | | 15,210,157 | |
| Stock Yards Bancorp, Inc. | 177,092 | | 13,480,243 | |
| Synovus Financial Corp. | 758,972 | | 43,314,532 | |
| Territorial Bancorp, Inc. | 34,377 | | 371,615 | |
Texas Capital Bancshares, Inc.(1) | 529,522 | | 46,836,221 | |
Third Coast Bancshares, Inc.(1) | 98,841 | | 3,508,856 | |
| Timberland Bancorp, Inc. | 31,567 | | 1,022,455 | |
| | | | | | | | |
| Tompkins Financial Corp. | 66,070 | | 5,041,802 | |
| Towne Bank | 588,635 | | 21,561,700 | |
| TriCo Bancshares | 363,534 | | 17,573,234 | |
| TrustCo Bank Corp. | 331,361 | | 12,339,884 | |
| Trustmark Corp. | 617,954 | | 24,168,181 | |
| UMB Financial Corp. | 735,476 | | 92,294,883 | |
| United Community Banks, Inc. | 139,172 | | 4,705,405 | |
| United Security Bancshares | 83,790 | | 823,656 | |
| Unity Bancorp, Inc. | 71,018 | | 3,224,217 | |
| Univest Financial Corp. | 509,378 | | 16,177,845 | |
| Valley National Bancorp | 6,138,074 | | 65,309,107 | |
| Veritex Holdings, Inc. | 598,753 | | 18,208,079 | |
| Virginia National Bankshares Corp. | 2,612 | | 106,622 | |
| WaFd, Inc. | 1,396,099 | | 51,069,301 | |
| Washington Trust Bancorp, Inc. | 276,495 | | 10,269,024 | |
| West BanCorp, Inc. | 108,354 | | 2,586,410 | |
| Westamerica BanCorp | 483,702 | | 27,682,265 | |
| Western Alliance Bancorp | 186,734 | | 17,480,170 | |
| Western New England Bancorp, Inc. | 3,560 | | 33,393 | |
| Wintrust Financial Corp. | 314,465 | | 43,399,315 | |
| WSFS Financial Corp. | 730,778 | | 43,861,296 | |
| Zions Bancorp NA | 232,790 | | 14,088,451 | |
| | 3,003,450,513 | |
| Biotechnology — 0.7% | | |
Alkermes PLC(1) | 2,049,924 | | 59,488,795 | |
Assembly Biosciences, Inc.(1) | 4,397 | | 74,925 | |
Emergent BioSolutions, Inc.(1) | 1,680,068 | | 17,002,288 | |
Protagonist Therapeutics, Inc.(1) | 621,588 | | 27,225,554 | |
Puma Biotechnology, Inc.(1) | 753,067 | | 2,552,897 | |
Pyxis Oncology, Inc.(1)(2) | 176,569 | | 354,904 | |
Vanda Pharmaceuticals, Inc.(1) | 165,035 | | 849,930 | |
XBiotech, Inc.(1)(2) | 106,588 | | 811,135 | |
| | 108,360,428 | |
| Broadline Retail — 1.3% | | |
| Dillard's, Inc., Class A | 25,350 | | 11,233,092 | |
| Kohl's Corp. | 3,440,883 | | 51,510,019 | |
| Macy's, Inc. | 5,790,638 | | 94,039,961 | |
| Nordstrom, Inc. | 2,474,196 | | 56,188,991 | |
| | 212,972,063 | |
| Building Products — 0.8% | | |
| Apogee Enterprises, Inc. | 553,747 | | 46,631,035 | |
| Insteel Industries, Inc. | 459,758 | | 13,553,666 | |
JELD-WEN Holding, Inc.(1) | 2,173,648 | | 23,671,027 | |
| Quanex Building Products Corp. | 721,749 | | 21,479,250 | |
| Tecnoglass, Inc. | 226,162 | | 18,330,430 | |
| UFP Industries, Inc. | 82,537 | | 11,216,778 | |
| | 134,882,186 | |
| Capital Markets — 0.5% | | |
| Diamond Hill Investment Group, Inc. | 30,305 | | 5,010,932 | |
Open Lending Corp., Class A(1) | 38,119 | | 243,199 | |
| Oppenheimer Holdings, Inc., Class A | 152,176 | | 9,390,781 | |
StoneX Group, Inc.(1) | 529,469 | | 54,937,704 | |
| Virtus Investment Partners, Inc. | 50,752 | | 12,534,221 | |
| | 82,116,837 | |
| | |
| | | | | | | | |
| Chemicals — 2.1% | | |
| AdvanSix, Inc. | 596,369 | | 19,364,101 | |
Arcadium Lithium PLC(1) | 2,439,562 | | 12,807,700 | |
| Ashland, Inc. | 155,280 | | 12,121,157 | |
| Cabot Corp. | 1,009,517 | | 110,663,253 | |
| Chemours Co. | 1,445,598 | | 31,427,300 | |
Core Molding Technologies, Inc.(1) | 172,941 | | 2,860,444 | |
| Hawkins, Inc. | 257,990 | | 34,702,235 | |
Intrepid Potash, Inc.(1) | 153,190 | | 4,152,981 | |
| Koppers Holdings, Inc. | 3,276 | | 125,995 | |
| Kronos Worldwide, Inc. | 89,034 | | 1,006,975 | |
LSB Industries, Inc.(1) | 1,342,577 | | 11,854,955 | |
| Mativ Holdings, Inc. | 1,112,097 | | 14,624,076 | |
| NewMarket Corp. | 10,986 | | 5,861,690 | |
| Orion SA | 1,406,711 | | 25,911,617 | |
Rayonier Advanced Materials, Inc.(1) | 1,742,653 | | 15,352,773 | |
| Stepan Co. | 347,320 | | 26,708,908 | |
| Tronox Holdings PLC, Class A | 1,296,346 | | 15,685,787 | |
| Valhi, Inc. | 17,120 | | 438,272 | |
| | 345,670,219 | |
| Commercial Services and Supplies — 0.8% | | |
| ACCO Brands Corp. | 1,537,293 | | 8,947,045 | |
| Acme United Corp. | 39,148 | | 1,742,478 | |
| Aris Water Solutions, Inc., Class A | 415,100 | | 11,166,190 | |
| Civeo Corp. | 324,966 | | 7,597,705 | |
| Ennis, Inc. | 474,811 | | 10,127,719 | |
| Interface, Inc. | 1,588,997 | | 42,187,870 | |
| Steelcase, Inc., Class A | 2,419,099 | | 32,585,264 | |
Team, Inc.(1) | 9,073 | | 153,152 | |
| Virco Mfg. Corp. | 363,329 | | 5,965,862 | |
| | 120,473,285 | |
| Communications Equipment — 0.1% | | |
Aviat Networks, Inc.(1) | 352 | | 5,572 | |
KVH Industries, Inc.(1) | 6,643 | | 36,603 | |
NETGEAR, Inc.(1) | 580,411 | | 14,278,111 | |
Viasat, Inc.(1) | 893,848 | | 8,339,602 | |
| | 22,659,888 | |
| Construction and Engineering — 2.0% | | |
Ameresco, Inc., Class A(1) | 640,430 | | 18,040,913 | |
| Argan, Inc. | 374,788 | | 58,444,441 | |
Everus Construction Group, Inc.(1) | 860,475 | | 54,777,838 | |
| Granite Construction, Inc. | 572,040 | | 56,843,615 | |
Great Lakes Dredge & Dock Corp.(1) | 1,159,867 | | 14,649,120 | |
IES Holdings, Inc.(1) | 33,289 | | 10,314,763 | |
Limbach Holdings, Inc.(1) | 101,104 | | 10,058,837 | |
Matrix Service Co.(1) | 142,653 | | 1,891,579 | |
MYR Group, Inc.(1) | 13,243 | | 2,091,070 | |
Northwest Pipe Co.(1) | 168,414 | | 9,442,131 | |
Orion Group Holdings, Inc.(1) | 513,603 | | 4,478,618 | |
Sterling Infrastructure, Inc.(1) | 240,118 | | 46,690,945 | |
Tutor Perini Corp.(1) | 1,028,400 | | 27,951,912 | |
| | 315,675,782 | |
| Construction Materials — 0.2% | | |
Knife River Corp.(1) | 178,210 | | 18,444,735 | |
| U.S. Lime & Minerals, Inc. | 42,101 | | 6,441,453 | |
| | 24,886,188 | |
| | |
| | | | | | | | |
| Consumer Finance — 2.0% | | |
Atlanticus Holdings Corp.(1) | 30,734 | | 1,790,563 | |
| Bread Financial Holdings, Inc. | 1,118,684 | | 65,812,180 | |
Consumer Portfolio Services, Inc.(1) | 62,332 | | 645,760 | |
Encore Capital Group, Inc.(1) | 781 | | 38,413 | |
EZCORP, Inc., Class A(1) | 397,885 | | 5,092,928 | |
Green Dot Corp., Class A(1) | 736,121 | | 7,559,963 | |
LendingClub Corp.(1) | 1,425,414 | | 23,718,889 | |
| Medallion Financial Corp. | 181,711 | | 1,711,718 | |
| Navient Corp. | 1,488,109 | | 23,184,738 | |
| Nelnet, Inc., Class A | 106,403 | | 11,589,415 | |
| OneMain Holdings, Inc. | 593,687 | | 34,047,949 | |
PRA Group, Inc.(1) | 9,601 | | 203,541 | |
| PROG Holdings, Inc. | 422,564 | | 20,561,964 | |
| Regional Management Corp. | 109,558 | | 3,344,806 | |
| SLM Corp. | 4,518,954 | | 123,728,960 | |
World Acceptance Corp.(1) | 40,635 | | 4,913,584 | |
| | 327,945,371 | |
| Consumer Staples Distribution & Retail — 2.2% | | |
| Andersons, Inc. | 972,057 | | 46,406,001 | |
| Ingles Markets, Inc., Class A | 393,507 | | 29,080,167 | |
| Natural Grocers by Vitamin Cottage, Inc. | 361,458 | | 17,006,599 | |
| PriceSmart, Inc. | 633,868 | | 56,883,314 | |
| SpartanNash Co. | 848,257 | | 16,099,918 | |
Sprouts Farmers Market, Inc.(1) | 741,611 | | 114,564,067 | |
United Natural Foods, Inc.(1) | 1,543,471 | | 38,324,385 | |
| Village Super Market, Inc., Class A | 213,972 | | 6,926,274 | |
| Weis Markets, Inc. | 384,288 | | 27,987,695 | |
| | 353,278,420 | |
| Containers and Packaging — 0.0% | | |
| Myers Industries, Inc. | 387,255 | | 4,492,158 | |
| Distributors — 0.0% | | |
| Weyco Group, Inc. | 5,983 | | 213,653 | |
| Diversified Consumer Services — 0.5% | | |
American Public Education, Inc.(1) | 423,664 | | 8,735,952 | |
| Graham Holdings Co., Class B | 3,797 | | 3,535,462 | |
| Perdoceo Education Corp. | 1,283,242 | | 35,224,993 | |
Stride, Inc.(1) | 182,429 | | 19,496,187 | |
Universal Technical Institute, Inc.(1) | 698,793 | | 18,077,775 | |
| | 85,070,369 | |
| Diversified Telecommunication Services — 0.5% | | |
| ATN International, Inc. | 292,471 | | 5,785,076 | |
Frontier Communications Parent, Inc.(1) | 1,125,527 | | 39,179,595 | |
| Iridium Communications, Inc. | 1,214,131 | | 36,083,973 | |
| Shenandoah Telecommunications Co. | 282,111 | | 3,760,540 | |
| | 84,809,184 | |
| Electrical Equipment — 1.1% | | |
| Atkore, Inc. | 623,284 | | 58,781,914 | |
| EnerSys | 397,053 | | 38,379,143 | |
| Espey Mfg. & Electronics Corp. | 1,546 | | 46,658 | |
| LSI Industries, Inc. | 200,706 | | 4,102,431 | |
| Powell Industries, Inc. | 273,771 | | 73,200,890 | |
| Preformed Line Products Co. | 33,024 | | 4,491,924 | |
Shoals Technologies Group, Inc., Class A(1) | 25,607 | | 133,669 | |
| | 179,136,629 | |
| | |
| | | | | | | | |
| Electronic Equipment, Instruments and Components — 3.2% | | |
| Avnet, Inc. | 1,600,606 | | 87,569,154 | |
| Bel Fuse, Inc., Class A | 22,450 | | 2,170,017 | |
| Bel Fuse, Inc., Class B | 288,880 | | 23,162,398 | |
| Benchmark Electronics, Inc. | 906,212 | | 43,942,220 | |
Daktronics, Inc.(1) | 1,121,594 | | 17,272,548 | |
ePlus, Inc.(1) | 623,682 | | 50,430,926 | |
IPG Photonics Corp.(1) | 36,307 | | 2,833,398 | |
Kimball Electronics, Inc.(1) | 369,736 | | 7,250,523 | |
| Methode Electronics, Inc. | 408,792 | | 4,464,009 | |
M-Tron Industries, Inc.(1) | 1,805 | | 118,336 | |
| PC Connection, Inc. | 241,979 | | 17,562,836 | |
Plexus Corp.(1) | 368,402 | | 60,565,289 | |
Sanmina Corp.(1) | 762,280 | | 60,532,655 | |
ScanSource, Inc.(1) | 606,863 | | 30,591,964 | |
TTM Technologies, Inc.(1) | 1,357,997 | | 33,107,967 | |
| Vishay Intertechnology, Inc. | 3,225,302 | | 61,603,268 | |
Vishay Precision Group, Inc.(1) | 233,735 | | 5,368,893 | |
| | 508,546,401 | |
| Energy Equipment and Services — 4.3% | | |
| Archrock, Inc. | 4,258,403 | | 109,100,285 | |
Atlas Energy Solutions, Inc.(2) | 16,078 | | 378,958 | |
Bristow Group, Inc.(1) | 443,340 | | 16,944,455 | |
| ChampionX Corp. | 390,826 | | 12,096,065 | |
DMC Global, Inc.(1) | 102,991 | | 829,078 | |
| Energy Services of America Corp. | 198,123 | | 3,187,799 | |
Expro Group Holdings NV(1) | 290,900 | | 4,040,601 | |
Forum Energy Technologies, Inc.(1) | 39,992 | | 609,878 | |
Geospace Technologies Corp.(1) | 124,442 | | 1,336,507 | |
Helix Energy Solutions Group, Inc.(1) | 3,874,121 | | 41,414,353 | |
| Helmerich & Payne, Inc. | 2,270,490 | | 78,627,069 | |
KLX Energy Services Holdings, Inc.(1)(2) | 180,936 | | 1,091,044 | |
| Kodiak Gas Services, Inc. | 718,570 | | 29,058,971 | |
| Liberty Energy, Inc., Class A | 4,474,889 | | 82,337,958 | |
Nabors Industries Ltd.(1) | 227,264 | | 16,687,995 | |
Natural Gas Services Group, Inc.(1) | 65,295 | | 1,812,589 | |
Newpark Resources, Inc.(1) | 2,117,141 | | 17,699,299 | |
| Noble Corp. PLC | 479,290 | | 16,041,836 | |
Oceaneering International, Inc.(1) | 2,235,077 | | 67,007,608 | |
Oil States International, Inc.(1) | 499,618 | | 2,747,899 | |
| Patterson-UTI Energy, Inc. | 8,155,264 | | 68,504,218 | |
ProFrac Holding Corp., Class A(1)(2) | 423,533 | | 3,841,444 | |
ProPetro Holding Corp.(1) | 2,628,346 | | 22,078,106 | |
| Ranger Energy Services, Inc. | 319,633 | | 5,273,944 | |
| RPC, Inc. | 2,488,751 | | 16,027,556 | |
Seadrill Ltd.(1) | 131,514 | | 5,344,729 | |
| Select Water Solutions, Inc., Class A | 2,540,332 | | 37,520,704 | |
| Solaris Energy Infrastructure, Inc., Class A | 603,146 | | 14,867,549 | |
TETRA Technologies, Inc.(1) | 1,049,854 | | 4,041,938 | |
Tidewater, Inc.(1) | 4,401 | | 227,620 | |
Transocean Ltd.(1) | 4,282,309 | | 18,842,160 | |
| | 699,620,215 | |
| Entertainment — 0.1% | | |
| Marcus Corp. | 583,981 | | 13,221,330 | |
Playstudios, Inc.(1) | 139,143 | | 267,154 | |
| | 13,488,484 | |
| | |
| | | | | | | | |
| Financial Services — 3.8% | | |
Acacia Research Corp.(1) | 348,379 | | 1,585,124 | |
| Alerus Financial Corp. | 115,993 | | 2,556,486 | |
| Cass Information Systems, Inc. | 58,894 | | 2,642,574 | |
| Enact Holdings, Inc. | 514,414 | | 18,112,517 | |
| Essent Group Ltd. | 653,241 | | 37,744,265 | |
| Federal Agricultural Mortgage Corp., Class C | 173,598 | | 37,057,965 | |
International Money Express, Inc.(1) | 139,336 | | 2,935,810 | |
| Jackson Financial, Inc., Class A | 1,259,413 | | 126,180,588 | |
| Merchants Bancorp | 377,651 | | 15,589,433 | |
| MGIC Investment Corp. | 2,306,769 | | 60,575,754 | |
| NewtekOne, Inc. | 57,741 | | 837,245 | |
NMI Holdings, Inc., Class A(1) | 1,602,414 | | 64,080,536 | |
Onity Group, Inc.(1) | 11,470 | | 354,079 | |
Pagseguro Digital Ltd., Class A(1) | 788,071 | | 5,784,441 | |
Payoneer Global, Inc.(1) | 3,326,232 | | 36,289,191 | |
| PennyMac Financial Services, Inc. | 320,877 | | 34,375,553 | |
| Radian Group, Inc. | 2,911,960 | | 104,219,048 | |
StoneCo Ltd., A Shares(1) | 499,084 | | 4,731,316 | |
Velocity Financial, Inc.(1) | 70,188 | | 1,436,047 | |
| Walker & Dunlop, Inc. | 444,342 | | 48,957,602 | |
| Waterstone Financial, Inc. | 123,271 | | 1,860,159 | |
| | 607,905,733 | |
| Food Products — 1.4% | | |
| B&G Foods, Inc. | 1,802,304 | | 12,039,391 | |
| Calavo Growers, Inc. | 341,754 | | 9,470,003 | |
| Cal-Maine Foods, Inc. | 1,091,870 | | 106,577,431 | |
| Dole PLC | 1,626,902 | | 24,517,413 | |
| Fresh Del Monte Produce, Inc. | 718,446 | | 24,247,552 | |
| John B Sanfilippo & Son, Inc. | 89,139 | | 7,697,153 | |
Lifeway Foods, Inc.(1) | 54,369 | | 1,329,322 | |
Mission Produce, Inc.(1) | 266,352 | | 3,542,482 | |
| Seaboard Corp. | 3,914 | | 10,231,118 | |
| WK Kellogg Co. | 1,111,144 | | 23,111,795 | |
| | 222,763,660 | |
| Gas Utilities — 0.5% | | |
| MDU Resources Group, Inc. | 4,071,534 | | 81,593,541 | |
| Ground Transportation — 2.1% | | |
| ArcBest Corp. | 495,799 | | 57,155,709 | |
| Covenant Logistics Group, Inc. | 162,534 | | 9,439,975 | |
| Heartland Express, Inc. | 868,110 | | 11,085,765 | |
Hertz Global Holdings, Inc.(1)(2) | 1,384,497 | | 6,811,725 | |
| Marten Transport Ltd. | 1,480,549 | | 25,731,941 | |
PAMT Corp.(1) | 61,496 | | 1,166,579 | |
| Ryder System, Inc. | 685,783 | | 115,787,602 | |
| Schneider National, Inc., Class B | 899,892 | | 30,245,370 | |
| Universal Logistics Holdings, Inc. | 191,881 | | 9,998,919 | |
| Werner Enterprises, Inc. | 1,617,201 | | 66,111,177 | |
| | 333,534,762 | |
| Health Care Equipment and Supplies — 0.4% | | |
Bioventus, Inc., Class A(1) | 667,470 | | 8,203,206 | |
FONAR Corp.(1) | 29,572 | | 487,051 | |
Integra LifeSciences Holdings Corp.(1) | 21,814 | | 536,188 | |
Kewaunee Scientific Corp.(1) | 27,793 | | 1,159,802 | |
| | | | | | | | |
Lantheus Holdings, Inc.(1) | 15,304 | | 1,366,188 | |
OraSure Technologies, Inc.(1) | 1,962,093 | | 7,455,953 | |
Pro-Dex, Inc.(1)(2) | 4,736 | | 241,536 | |
QuidelOrtho Corp.(1) | 770,276 | | 31,581,316 | |
| Utah Medical Products, Inc. | 1,162 | | 75,821 | |
Varex Imaging Corp.(1) | 17,791 | | 296,754 | |
Zimvie, Inc.(1) | 483,066 | | 7,130,054 | |
| | 58,533,869 | |
| Health Care Providers and Services — 0.6% | | |
Brookdale Senior Living, Inc.(1) | 1,476,732 | | 8,387,838 | |
Cross Country Healthcare, Inc.(1) | 880,008 | | 9,468,886 | |
DocGo, Inc.(1) | 53,934 | | 233,534 | |
Nutex Health, Inc.(1) | 28,086 | | 1,044,799 | |
| Patterson Cos., Inc. | 1,147,475 | | 24,659,238 | |
| Premier, Inc., Class A | 2,184,784 | | 50,031,554 | |
| | 93,825,849 | |
| Hotels, Restaurants and Leisure — 1.2% | | |
BJ's Restaurants, Inc.(1) | 568,474 | | 21,852,141 | |
| Canterbury Park Holding Corp. | 194 | | 3,894 | |
Century Casinos, Inc.(1) | 32,005 | | 140,822 | |
| Cheesecake Factory, Inc. | 1,065,929 | | 53,978,645 | |
Cracker Barrel Old Country Store, Inc.(2) | 513,050 | | 28,505,058 | |
Full House Resorts, Inc.(1) | 309,695 | | 1,461,760 | |
| Golden Entertainment, Inc. | 245,772 | | 8,292,347 | |
Life Time Group Holdings, Inc.(1) | 62,735 | | 1,522,578 | |
| Monarch Casino & Resort, Inc. | 331,000 | | 27,807,310 | |
ONE Group Hospitality, Inc.(1) | 246,138 | | 868,867 | |
Playa Hotels & Resorts NV(1) | 2,468,104 | | 24,162,738 | |
Potbelly Corp.(1) | 17,142 | | 178,277 | |
| RCI Hospitality Holdings, Inc. | 60,057 | | 3,150,590 | |
| Super Group SGHC Ltd. | 3,425,554 | | 22,779,934 | |
Target Hospitality Corp.(1) | 532,789 | | 4,406,165 | |
| | 199,111,126 | |
| Household Durables — 2.4% | | |
| Bassett Furniture Industries, Inc. | 57,768 | | 879,807 | |
| Cricut, Inc., Class A | 943,506 | | 4,896,796 | |
| Ethan Allen Interiors, Inc. | 589,680 | | 18,120,866 | |
| Flexsteel Industries, Inc. | 78,163 | | 4,613,962 | |
| Hamilton Beach Brands Holding Co., Class A | 166,202 | | 3,219,333 | |
| Hooker Furnishings Corp. | 177,002 | | 3,315,247 | |
Hovnanian Enterprises, Inc., Class A(1) | 48,057 | | 9,448,487 | |
| KB Home | 933,495 | | 77,237,376 | |
Landsea Homes Corp.(1) | 102,668 | | 1,173,495 | |
| La-Z-Boy, Inc. | 964,206 | | 43,649,606 | |
Legacy Housing Corp.(1) | 90,971 | | 2,380,711 | |
| Lifetime Brands, Inc. | 204,433 | | 1,204,110 | |
Lovesac Co.(1) | 356,401 | | 13,443,446 | |
M/I Homes, Inc.(1) | 677,148 | | 111,749,734 | |
| Meritage Homes Corp. | 17,367 | | 3,318,313 | |
Sonos, Inc.(1) | 109,137 | | 1,485,354 | |
Taylor Morrison Home Corp.(1) | 4,440 | | 327,983 | |
Tri Pointe Homes, Inc.(1) | 1,518,804 | | 66,113,538 | |
Universal Electronics, Inc.(1) | 200,765 | | 2,324,859 | |
| Worthington Enterprises, Inc. | 559,192 | | 22,882,137 | |
| | 391,785,160 | |
| | |
| | | | | | | | |
| Household Products — 0.3% | | |
Central Garden & Pet Co.(1) | 153,141 | | 6,087,355 | |
Central Garden & Pet Co., Class A(1) | 1,096,630 | | 37,055,128 | |
| Oil-Dri Corp. of America | 120,937 | | 8,359,165 | |
| | 51,501,648 | |
| Independent Power and Renewable Electricity Producers — 0.0% | | |
Montauk Renewables, Inc.(1) | 691,524 | | 3,056,536 | |
| Insurance — 4.0% | | |
Ambac Financial Group, Inc.(1) | 775,340 | | 9,955,366 | |
American Coastal Insurance Corp., Class C(1) | 301,872 | | 4,144,703 | |
| AMERISAFE, Inc. | 28,052 | | 1,655,629 | |
| Assured Guaranty Ltd. | 782,861 | | 73,025,274 | |
| Axis Capital Holdings Ltd. | 705,804 | | 65,668,004 | |
Brighthouse Financial, Inc.(1) | 1,372,610 | | 71,746,325 | |
| CNO Financial Group, Inc. | 2,309,710 | | 92,157,429 | |
| Crawford & Co., Class A | 101,968 | | 1,208,321 | |
| Crawford & Co., Class B | 36,899 | | 411,793 | |
| Employers Holdings, Inc. | 441,701 | | 23,569,165 | |
Enstar Group Ltd.(1) | 136,391 | | 44,286,158 | |
| F&G Annuities & Life, Inc. | 190,017 | | 9,183,522 | |
| Fidelis Insurance Holdings Ltd. | 1,048,748 | | 21,530,796 | |
Genworth Financial, Inc., Class A(1) | 5,705,390 | | 44,502,042 | |
Greenlight Capital Re Ltd., A Shares(1) | 377,222 | | 5,631,924 | |
| Hanover Insurance Group, Inc. | 120,427 | | 19,871,659 | |
| HCI Group, Inc. | 124,942 | | 15,226,682 | |
Heritage Insurance Holdings, Inc.(1) | 470,635 | | 5,849,993 | |
| Horace Mann Educators Corp. | 116,135 | | 4,862,572 | |
| Investors Title Co. | 6,182 | | 1,771,205 | |
| James River Group Holdings Ltd. | 250,868 | | 1,176,571 | |
Kingstone Cos., Inc.(1) | 49,970 | | 836,998 | |
| Mercury General Corp. | 210,908 | | 16,653,296 | |
Oscar Health, Inc., Class A(1) | 862,109 | | 14,940,349 | |
Palomar Holdings, Inc.(1) | 211,675 | | 22,924,402 | |
ProAssurance Corp.(1) | 192,628 | | 3,220,740 | |
| Safety Insurance Group, Inc. | 36,344 | | 3,119,769 | |
SiriusPoint Ltd.(1) | 2,132,972 | | 32,890,428 | |
Skyward Specialty Insurance Group, Inc.(1) | 270,259 | | 14,623,714 | |
| United Fire Group, Inc. | 77,942 | | 2,385,025 | |
| Universal Insurance Holdings, Inc. | 481,051 | | 10,886,184 | |
| White Mountains Insurance Group Ltd. | 4,130 | | 8,301,259 | |
| | 648,217,297 | |
| Interactive Media and Services — 0.1% | | |
Cars.com, Inc.(1) | 983,639 | | 19,544,907 | |
Outbrain, Inc.(1) | 43,603 | | 236,764 | |
| | 19,781,671 | |
| IT Services — 0.7% | | |
Applied Digital Corp.(1) | 751,597 | | 7,591,130 | |
| CSP, Inc. | 22,627 | | 367,689 | |
DXC Technology Co.(1) | 4,922,897 | | 110,765,182 | |
| | 118,724,001 | |
| Leisure Products — 0.9% | | |
American Outdoor Brands, Inc.(1) | 18,140 | | 177,954 | |
| Clarus Corp. | 446,998 | | 2,029,371 | |
| Escalade, Inc. | 3,175 | | 47,625 | |
| | | | | | | | |
Funko, Inc., Class A(1) | 553,051 | | 6,498,349 | |
JAKKS Pacific, Inc.(1) | 180,923 | | 5,270,287 | |
Latham Group, Inc.(1) | 680,653 | | 4,512,729 | |
Malibu Boats, Inc., Class A(1) | 474,825 | | 20,583,664 | |
| Marine Products Corp. | 75,227 | | 743,995 | |
MasterCraft Boat Holdings, Inc.(1) | 362,405 | | 7,682,986 | |
| Polaris, Inc. | 798,008 | | 55,062,552 | |
Revelyst, Inc.(1) | 1,488,919 | | 28,140,569 | |
| Smith & Wesson Brands, Inc. | 876,447 | | 11,902,150 | |
| Sturm Ruger & Co., Inc. | 132,792 | | 5,058,047 | |
| | 147,710,278 | |
| Life Sciences Tools and Services — 0.0% | | |
OmniAb, Inc.(1) | 21,075 | | 4,318 | |
OmniAb, Inc.(1) | 21,075 | | 2,797 | |
| | 7,115 | |
| Machinery — 2.9% | | |
| Albany International Corp., Class A | 48,153 | | 3,991,884 | |
| Astec Industries, Inc. | 48,550 | | 1,874,516 | |
Commercial Vehicle Group, Inc.(1) | 741,584 | | 1,787,217 | |
| Eastern Co. | 16,428 | | 471,812 | |
Graham Corp.(1) | 79,078 | | 3,544,276 | |
| Greenbrier Cos., Inc. | 798,763 | | 54,315,884 | |
| Hyster-Yale, Inc. | 217,002 | | 12,204,193 | |
| Kennametal, Inc. | 2,001,043 | | 57,429,934 | |
L.B. Foster Co., Class A(1) | 106,158 | | 3,049,919 | |
| Lindsay Corp. | 13,223 | | 1,755,618 | |
| Luxfer Holdings PLC | 517,120 | | 7,425,843 | |
Manitowoc Co., Inc.(1) | 184,696 | | 1,963,318 | |
Mayville Engineering Co., Inc.(1) | 158,024 | | 2,662,704 | |
| Mueller Industries, Inc. | 1,543,353 | | 124,656,622 | |
| Mueller Water Products, Inc., Class A | 79,294 | | 1,985,522 | |
NN, Inc.(1) | 530,200 | | 2,115,498 | |
| Park-Ohio Holdings Corp. | 151,284 | | 4,866,806 | |
Taylor Devices, Inc.(1) | 45,433 | | 2,184,419 | |
| Tennant Co. | 94,812 | | 8,378,536 | |
| Terex Corp. | 1,534,595 | | 84,080,460 | |
Titan International, Inc.(1) | 909,333 | | 6,656,318 | |
| Trinity Industries, Inc. | 1,642,802 | | 61,933,635 | |
| Twin Disc, Inc. | 47,204 | | 590,522 | |
| Wabash National Corp. | 1,093,220 | | 21,678,553 | |
| | 471,604,009 | |
| Marine Transportation — 1.2% | | |
| Costamare, Inc. | 847,135 | | 11,182,182 | |
| Genco Shipping & Trading Ltd. | 1,122,165 | | 17,808,759 | |
| Matson, Inc. | 936,554 | | 143,461,342 | |
| Pangaea Logistics Solutions Ltd. | 784,899 | | 4,316,944 | |
| Safe Bulkers, Inc. | 1,585,409 | | 6,135,533 | |
| Star Bulk Carriers Corp. | 409,684 | | 7,095,727 | |
| | 190,000,487 | |
| Media — 0.7% | | |
AMC Networks, Inc., Class A(1)(2) | 691,398 | | 6,512,969 | |
| Cable One, Inc. | 52,168 | | 21,922,037 | |
EchoStar Corp., Class A(1) | 2,561,133 | | 64,771,054 | |
| Entravision Communications Corp., Class A | 329,478 | | 803,926 | |
| | | | | | | | |
Ibotta, Inc., Class A(1)(2) | 2,934 | | 214,593 | |
PubMatic, Inc., Class A(1) | 146,312 | | 2,333,676 | |
| Scholastic Corp. | 511,543 | | 13,494,504 | |
WideOpenWest, Inc.(1) | 29,615 | | 157,256 | |
| | 110,210,015 | |
| Metals and Mining — 2.9% | | |
| Alpha Metallurgical Resources, Inc. | 308,525 | | 75,764,484 | |
| Arch Resources, Inc. | 498,337 | | 85,674,097 | |
| Caledonia Mining Corp. PLC | 276,544 | | 2,914,774 | |
Cleveland-Cliffs, Inc.(1) | 1,257,368 | | 15,654,231 | |
| Commercial Metals Co. | 544,723 | | 33,603,962 | |
| Kaiser Aluminum Corp. | 348,083 | | 28,292,186 | |
Metallus, Inc.(1) | 1,080,513 | | 18,012,152 | |
Metals Acquisition Ltd., Class A(1) | 692,738 | | 8,797,773 | |
| Olympic Steel, Inc. | 277,762 | | 11,743,777 | |
| Radius Recycling, Inc., Class A | 580,146 | | 11,498,494 | |
| Ramaco Resources, Inc., Class A | 722,867 | | 9,216,554 | |
| Ramaco Resources, Inc., Class B | 137,935 | | 1,415,213 | |
| Ryerson Holding Corp. | 778,634 | | 20,010,894 | |
| SunCoke Energy, Inc. | 2,518,302 | | 31,378,043 | |
Tredegar Corp.(1) | 349,263 | | 2,504,216 | |
Universal Stainless & Alloy Products, Inc.(1) | 189,708 | | 8,426,829 | |
| Warrior Met Coal, Inc. | 1,512,916 | | 106,388,253 | |
| | 471,295,932 | |
| Oil, Gas and Consumable Fuels — 10.3% | | |
Amplify Energy Corp.(1) | 841,680 | | 5,647,673 | |
| Antero Midstream Corp. | 1,438,383 | | 22,970,977 | |
| Ardmore Shipping Corp. | 1,234,479 | | 13,776,786 | |
| Berry Corp. | 1,735,708 | | 7,081,689 | |
| California Resources Corp. | 1,992,399 | | 117,870,325 | |
| Civitas Resources, Inc. | 727,576 | | 37,746,643 | |
CNX Resources Corp.(1) | 3,093,016 | | 125,329,008 | |
Comstock Resources, Inc.(2) | 2,399,475 | | 37,359,826 | |
| CONSOL Energy, Inc. | 666,462 | | 87,106,583 | |
| Crescent Energy Co., Class A | 3,273,000 | | 48,669,510 | |
| CVR Energy, Inc. | 563,244 | | 10,898,771 | |
| DHT Holdings, Inc. | 3,293,409 | | 31,023,913 | |
| Dorian LPG Ltd. | 1,113,288 | | 27,242,157 | |
EnLink Midstream LLC(1) | 792,662 | | 12,690,519 | |
| Epsilon Energy Ltd. | 83,877 | | 488,164 | |
| Evolution Petroleum Corp. | 491,057 | | 2,877,594 | |
| FutureFuel Corp. | 421,596 | | 2,196,515 | |
| Golar LNG Ltd. | 694,529 | | 27,343,607 | |
Gran Tierra Energy, Inc.(1) | 951,667 | | 6,547,469 | |
| Granite Ridge Resources, Inc. | 1,657,490 | | 10,690,811 | |
Green Plains, Inc.(1) | 417,498 | | 4,508,978 | |
Gulfport Energy Corp.(1) | 47,739 | | 8,392,516 | |
Hallador Energy Co.(1) | 656,276 | | 8,006,567 | |
| HighPeak Energy, Inc. | 586,166 | | 8,833,522 | |
| International Seaways, Inc. | 1,356,558 | | 52,905,762 | |
| Kimbell Royalty Partners LP | 1,779,063 | | 28,785,239 | |
Kosmos Energy Ltd.(1) | 12,085,816 | | 47,618,115 | |
| Magnolia Oil & Gas Corp., Class A | 4,273,320 | | 118,541,897 | |
| Matador Resources Co. | 332,641 | | 19,961,786 | |
| | | | | | | | |
| Murphy Oil Corp. | 1,188,232 | | 38,581,893 | |
| NACCO Industries, Inc., Class A | 37,687 | | 1,213,898 | |
| Nordic American Tankers Ltd. | 4,239,943 | | 11,363,047 | |
| Northern Oil & Gas, Inc. | 2,566,185 | | 111,603,386 | |
Par Pacific Holdings, Inc.(1) | 1,261,449 | | 21,987,056 | |
| PBF Energy, Inc., Class A | 1,505,152 | | 47,397,237 | |
| Peabody Energy Corp. | 3,180,971 | | 75,866,158 | |
| PHX Minerals, Inc. | 52,594 | | 200,383 | |
PrimeEnergy Resources Corp.(1) | 5,014 | | 1,008,065 | |
REX American Resources Corp.(1) | 328,775 | | 14,239,245 | |
| Riley Exploration Permian, Inc. | 293,521 | | 10,302,587 | |
Ring Energy, Inc.(1) | 2,307,359 | | 3,530,259 | |
| SandRidge Energy, Inc. | 795,397 | | 9,330,007 | |
| Scorpio Tankers, Inc. | 1,347,849 | | 68,282,030 | |
| SFL Corp. Ltd. | 2,905,024 | | 30,560,852 | |
| SM Energy Co. | 3,057,428 | | 138,165,171 | |
Talos Energy, Inc.(1) | 3,558,568 | | 40,033,890 | |
Teekay Corp. Ltd.(1) | 1,676,965 | | 12,376,002 | |
| Teekay Tankers Ltd., Class A | 756,476 | | 30,448,159 | |
| VAALCO Energy, Inc. | 3,231,059 | | 16,543,022 | |
Vital Energy, Inc.(1)(2) | 340,050 | | 11,163,842 | |
| Vitesse Energy, Inc. | 477,957 | | 13,421,033 | |
| World Kinect Corp. | 775,074 | | 22,438,392 | |
| | 1,663,168,536 | |
| Paper and Forest Products — 0.9% | | |
Clearwater Paper Corp.(1) | 529,066 | | 14,348,270 | |
| Louisiana-Pacific Corp. | 370,100 | | 43,745,820 | |
| Mercer International, Inc. | 479,644 | | 2,959,403 | |
| Sylvamo Corp. | 834,481 | | 77,014,252 | |
| | 138,067,745 | |
| Passenger Airlines — 2.3% | | |
Alaska Air Group, Inc.(1) | 2,669,825 | | 140,432,795 | |
| Allegiant Travel Co. | 458,758 | | 37,544,755 | |
JetBlue Airways Corp.(1) | 7,153,247 | | 42,704,885 | |
SkyWest, Inc.(1) | 1,182,687 | | 135,701,506 | |
Sun Country Airlines Holdings, Inc.(1) | 1,007,032 | | 14,491,190 | |
| | 370,875,131 | |
| Personal Care Products — 0.1% | | |
| Lifevantage Corp. | 86,020 | | 1,256,752 | |
Medifast, Inc.(1) | 211,414 | | 4,158,513 | |
Nature's Sunshine Products, Inc.(1) | 254,949 | | 4,140,372 | |
| Nu Skin Enterprises, Inc., Class A | 632,594 | | 4,617,936 | |
Olaplex Holdings, Inc.(1) | 445,014 | | 858,877 | |
USANA Health Sciences, Inc.(1) | 183,052 | | 7,052,994 | |
| | 22,085,444 | |
| Pharmaceuticals — 0.8% | | |
Amphastar Pharmaceuticals, Inc.(1) | 385,462 | | 17,419,028 | |
ANI Pharmaceuticals, Inc.(1) | 47,911 | | 2,741,946 | |
Harmony Biosciences Holdings, Inc.(1) | 813,143 | | 28,191,668 | |
Innoviva, Inc.(1) | 1,029,353 | | 19,547,413 | |
Pacira BioSciences, Inc.(1) | 17,594 | | 297,515 | |
| Phibro Animal Health Corp., Class A | 510,632 | | 11,933,470 | |
| SIGA Technologies, Inc. | 1,029,138 | | 7,492,125 | |
Supernus Pharmaceuticals, Inc.(1) | 897,120 | | 32,807,678 | |
| | 120,430,843 | |
| | |
| | | | | | | | |
| Professional Services — 0.4% | | |
Alight, Inc., Class A(1) | 2,243,602 | | 17,948,816 | |
Clarivate PLC(1)(2) | 3,586,688 | | 20,551,722 | |
Conduent, Inc.(1) | 1,345,703 | | 5,019,472 | |
| Heidrick & Struggles International, Inc. | 161,242 | | 7,439,706 | |
IBEX Holdings Ltd.(1) | 92,666 | | 1,899,653 | |
| Kelly Services, Inc., Class A | 727,447 | | 10,657,099 | |
| Kforce, Inc. | 27,102 | | 1,625,849 | |
TrueBlue, Inc.(1) | 482,843 | | 3,630,979 | |
| | 68,773,296 | |
| Real Estate Management and Development — 0.6% | | |
Forestar Group, Inc.(1) | 478,150 | | 14,272,777 | |
Howard Hughes Holdings, Inc.(1) | 480,021 | | 41,637,022 | |
Opendoor Technologies, Inc.(1) | 16,895,173 | | 39,534,705 | |
RE/MAX Holdings, Inc., Class A(1) | 192,118 | | 2,528,273 | |
Seaport Entertainment Group, Inc.(1)(2) | 23,599 | | 798,826 | |
| | 98,771,603 | |
| Semiconductors and Semiconductor Equipment — 0.7% | | |
Alpha & Omega Semiconductor Ltd.(1) | 181,083 | | 7,509,512 | |
| Amkor Technology, Inc. | 381,035 | | 10,074,566 | |
Diodes, Inc.(1) | 425,327 | | 27,646,255 | |
| Kulicke & Soffa Industries, Inc. | 260,900 | | 12,632,778 | |
Penguin Solutions, Inc.(1) | 982,187 | | 17,816,872 | |
Photronics, Inc.(1) | 1,682,488 | | 41,910,776 | |
| | 117,590,759 | |
| Software — 1.2% | | |
CoreCard Corp.(1) | 22,658 | | 475,365 | |
| InterDigital, Inc. | 513,889 | | 100,701,688 | |
MARA Holdings, Inc.(1)(2) | 3,355,113 | | 91,997,198 | |
Silvaco Group, Inc.(1) | 29,706 | | 245,075 | |
| | 193,419,326 | |
| Specialty Retail — 4.1% | | |
1-800-Flowers.com, Inc., Class A(1)(2) | 596,221 | | 4,847,277 | |
Abercrombie & Fitch Co., Class A(1) | 456,270 | | 68,299,056 | |
| Academy Sports & Outdoors, Inc. | 906,870 | | 44,663,347 | |
| Advance Auto Parts, Inc. | 803,734 | | 33,234,401 | |
| American Eagle Outfitters, Inc. | 4,783,165 | | 92,028,095 | |
| Arhaus, Inc. | 763,467 | | 7,581,227 | |
| Buckle, Inc. | 758,794 | | 39,525,579 | |
| Build-A-Bear Workshop, Inc. | 348,248 | | 13,229,942 | |
| Caleres, Inc. | 946,212 | | 29,398,807 | |
| Cato Corp., Class A | 90,435 | | 288,488 | |
| Designer Brands, Inc., Class A | 1,176,204 | | 5,833,972 | |
Destination XL Group, Inc.(1) | 1,339,196 | | 3,227,462 | |
Duluth Holdings, Inc., Class B(1) | 73,355 | | 280,950 | |
Five Below, Inc.(1) | 112,255 | | 10,406,039 | |
Foot Locker, Inc.(1) | 1,145,252 | | 28,803,088 | |
| Gap, Inc. | 787,708 | | 19,101,919 | |
Genesco, Inc.(1) | 217,141 | | 7,293,766 | |
| Guess?, Inc. | 858,498 | | 14,130,877 | |
| Haverty Furniture Cos., Inc. | 341,814 | | 8,070,229 | |
Lands' End, Inc.(1) | 307,939 | | 4,911,627 | |
ODP Corp.(1) | 855,320 | | 21,964,618 | |
| Shoe Carnival, Inc. | 456,799 | | 15,421,534 | |
| Signet Jewelers Ltd. | 967,542 | | 96,947,708 | |
| | | | | | | | |
Sportsman's Warehouse Holdings, Inc.(1) | 178,330 | | 381,626 | |
Tile Shop Holdings, Inc.(1) | 241,224 | | 1,599,315 | |
Urban Outfitters, Inc.(1) | 1,829,353 | | 89,144,372 | |
Zumiez, Inc.(1) | 12,077 | | 266,539 | |
| | 660,881,860 | |
| Technology Hardware, Storage and Peripherals — 0.0% | | |
Eastman Kodak Co.(1) | 532,300 | | 3,859,175 | |
| Immersion Corp. | 269,044 | | 2,405,253 | |
| | 6,264,428 | |
| Textiles, Apparel and Luxury Goods — 1.7% | | |
| Carter's, Inc. | 861,616 | | 47,018,385 | |
| Columbia Sportswear Co. | 711,747 | | 62,092,808 | |
Figs, Inc., Class A(1) | 950,036 | | 4,930,687 | |
G-III Apparel Group Ltd.(1) | 1,191,902 | | 35,316,056 | |
| Lakeland Industries, Inc. | 4,131 | | 93,526 | |
| Movado Group, Inc. | 337,970 | | 6,877,689 | |
| Oxford Industries, Inc. | 389,921 | | 32,429,730 | |
| PVH Corp. | 302,114 | | 32,740,094 | |
| Rocky Brands, Inc. | 179,266 | | 3,890,072 | |
| Superior Group of Cos., Inc. | 304,087 | | 5,148,193 | |
Under Armour, Inc., Class A(1) | 2,928,794 | | 28,438,590 | |
Under Armour, Inc., Class C(1) | 1,547,153 | | 13,568,532 | |
Unifi, Inc.(1) | 48,380 | | 268,993 | |
Vera Bradley, Inc.(1) | 463,373 | | 2,710,732 | |
| | 275,524,087 | |
| Trading Companies and Distributors — 4.4% | | |
| Air Lease Corp. | 2,658,182 | | 135,301,464 | |
| Alta Equipment Group, Inc. | 218,927 | | 1,731,712 | |
BlueLinx Holdings, Inc.(1) | 255,728 | | 32,145,010 | |
| Boise Cascade Co. | 935,955 | | 138,146,958 | |
DNOW, Inc.(1) | 1,180,140 | | 17,761,107 | |
| GATX Corp. | 949,768 | | 155,913,915 | |
| Global Industrial Co. | 25,714 | | 726,420 | |
| H&E Equipment Services, Inc. | 832,269 | | 49,719,750 | |
| Herc Holdings, Inc. | 602,335 | | 139,741,720 | |
Hudson Technologies, Inc.(1) | 619,454 | | 3,679,557 | |
| Karat Packaging, Inc. | 153,202 | | 4,732,410 | |
MRC Global, Inc.(1) | 1,693,234 | | 23,654,479 | |
| Willis Lease Finance Corp. | 5,036 | | 1,098,200 | |
| | 704,352,702 | |
| Wireless Telecommunication Services — 0.7% | | |
| Telephone & Data Systems, Inc. | 2,756,187 | | 94,206,472 | |
U.S. Cellular Corp.(1) | 410,705 | | 26,063,339 | |
| | 120,269,811 | |
TOTAL COMMON STOCKS (Cost $13,366,363,831) | | 16,094,509,831 | |
| SHORT-TERM INVESTMENTS — 0.4% | | |
| Money Market Funds — 0.4% | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 50,436,837 | | 50,436,837 | |
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 17,233,357 | | 17,233,357 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $67,670,194) | | 67,670,194 | |
TOTAL INVESTMENT SECURITIES — 100.0% (Cost $13,434,034,025) | | 16,162,180,025 | |
| OTHER ASSETS AND LIABILITIES — 0.0% | | (4,218,861) | |
| TOTAL NET ASSETS — 100.0% | | $ | 16,157,961,164 | |
| | | | | | | | |
| 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 $125,370,660. 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 $127,198,852, which includes securities collateral of $109,965,495.
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.
