American Century Investments®
Quarterly Portfolio Holdings
Ginnie Mae Fund
December 31, 2021
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| Ginnie Mae - Schedule of Investments |
| DECEMBER 31, 2021 (UNAUDITED) |
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| Shares/
Principal Amount ($) | Value ($) |
| U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 104.3% |
|
|
| Adjustable-Rate U.S. Government Agency Mortgage-Backed Securities — 2.6% | | |
| GNMA, VRN, 1.625%, (1-year H15T1Y plus 1.50%), 8/20/36 to 3/20/48 | 7,160,453 | | 7,430,579 | |
| GNMA, VRN, 1.875%, (1-year H15T1Y plus 1.50%), 4/20/38 | 2,476,002 | | 2,582,624 | |
| GNMA, VRN, 2.00%, (1-year H15T1Y plus 1.50%), 2/20/34 | 2,488,669 | | 2,562,478 | |
| GNMA, VRN, 2.125%, (1-year H15T1Y plus 1.50%), 10/20/27 to 10/20/35 | 2,047,939 | | 2,130,011 | |
| GNMA, VRN, 3.50%, (1-year H15T1Y plus 1.50%), 8/20/49 | 2,271,296 | | 2,332,690 | |
| | 17,038,382 | |
| Fixed-Rate U.S. Government Agency Mortgage-Backed Securities — 101.7% | | |
| GNMA, 2.00%, TBA | 34,035,878 | | 34,345,822 | |
| GNMA, 2.00%, 4/20/51 to 10/20/51 | 68,060,345 | | 68,501,116 | |
GNMA, 2.00%, 1/20/52(1) | 23,000,000 | | 23,233,594 | |
| GNMA, 2.50%, TBA | 12,488,273 | | 12,789,734 | |
| GNMA, 2.50%, 7/20/46 to 9/20/51 | 132,619,331 | | 136,030,369 | |
| GNMA, 3.00%, TBA | 28,400,000 | | 29,386,355 | |
| GNMA, 3.00%, 2/20/43 to 9/20/51 | 126,716,135 | | 131,557,453 | |
| GNMA, 3.50%, TBA | 34,250,000 | | 35,665,341 | |
| GNMA, 3.50%, 12/20/41 to 1/20/48 | 59,243,644 | | 63,337,913 | |
GNMA, 3.50%, 4/20/42(2) | 12,289,365 | | 13,168,646 | |
| GNMA, 4.00%, 12/20/39 to 2/20/47 | 40,135,552 | | 43,733,884 | |
| GNMA, 4.50%, 7/15/33 to 3/20/42 | 20,237,815 | | 22,547,723 | |
| GNMA, 5.00%, 6/15/33 to 5/20/41 | 19,600,888 | | 22,428,007 | |
| GNMA, 5.50%, 4/15/33 to 8/15/39 | 12,289,882 | | 14,052,029 | |
| GNMA, 6.00%, 2/20/26 to 2/20/39 | 9,897,031 | | 11,343,751 | |
| GNMA, 6.50%, 9/20/23 to 11/15/38 | 1,332,509 | | 1,545,794 | |
| GNMA, 7.00%, 12/20/25 to 12/20/29 | 251,517 | | 286,097 | |
| GNMA, 7.25%, 6/15/23 | 6,552 | | 6,575 | |
| GNMA, 7.50%, 12/20/23 to 2/20/31 | 61,305 | | 71,186 | |
| GNMA, 8.00%, 2/15/22 to 7/20/30 | 142,841 | | 147,465 | |
| GNMA, 8.25%, 2/15/22 | 1,085 | | 1,086 | |
| GNMA, 8.50%, 3/15/22 to 12/15/30 | 55,222 | | 62,203 | |
| GNMA, 8.75%, 7/15/27 | 22,214 | | 22,305 | |
| GNMA, 9.00%, 4/15/22 to 12/15/24 | 2,356 | | 2,365 | |
| GNMA, 9.25%, 3/15/25 | 17,211 | | 17,284 | |
| GNMA, 9.50%, 12/20/24 to 7/20/25 | 16,730 | | 16,900 | |
| | 664,300,997 | |
TOTAL U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Cost $675,586,054) | | 681,339,379 | |
| COLLATERALIZED MORTGAGE OBLIGATIONS — 7.6% |
|
|
| U.S. Government Agency Collateralized Mortgage Obligations — 7.6% | | |
| GNMA, Series 2002-13, Class FA, VRN, 0.61%, (1-month LIBOR plus 0.50%), 2/16/32 | 188,843 | | 188,800 | |
| GNMA, Series 2003-110, Class F, VRN, 0.50%, (1-month LIBOR plus 0.40%), 10/20/33 | 695,180 | | 697,615 | |
| GNMA, Series 2003-66, Class HF, VRN, 0.55%, (1-month LIBOR plus 0.45%), 8/20/33 | 377,505 | | 378,913 | |
| GNMA, Series 2004-76, Class F, VRN, 0.50%, (1-month LIBOR plus 0.40%), 9/20/34 | 646,894 | | 650,277 | |
| GNMA, Series 2005-13, Class FA, VRN, 0.30%, (1-month LIBOR plus 0.20%), 2/20/35 | 1,388,751 | | 1,388,691 | |
| GNMA, Series 2007-5, Class FA, VRN, 0.24%, (1-month LIBOR plus 0.14%), 2/20/37 | 1,393,081 | | 1,391,287 | |
| GNMA, Series 2007-58, Class FC, VRN, 0.60%, (1-month LIBOR plus 0.50%), 10/20/37 | 834,850 | | 841,252 | |
| GNMA, Series 2007-74, Class FL, VRN, 0.57%, (1-month LIBOR plus 0.46%), 11/16/37 | 2,362,171 | | 2,376,631 | |
| GNMA, Series 2008-18, Class FH, VRN, 0.70%, (1-month LIBOR plus 0.60%), 2/20/38 | 1,217,797 | | 1,218,191 | |
| GNMA, Series 2008-2, Class LF, VRN, 0.56%, (1-month LIBOR plus 0.46%), 1/20/38 | 1,039,337 | | 1,048,953 | |
| | | | | | | | |
| GNMA, Series 2008-27, Class FB, VRN, 0.65%, (1-month LIBOR plus 0.55%), 3/20/38 | 1,976,112 | | 1,991,907 | |
| GNMA, Series 2008-61, Class KF, VRN, 0.77%, (1-month LIBOR plus 0.67%), 7/20/38 | 968,327 | | 976,496 | |
| GNMA, Series 2008-73, Class FK, VRN, 0.86%, (1-month LIBOR plus 0.76%), 8/20/38 | 1,398,405 | | 1,415,790 | |
| GNMA, Series 2008-75, Class F, VRN, 0.63%, (1-month LIBOR plus 0.53%), 8/20/38 | 1,664,229 | | 1,675,459 | |
| GNMA, Series 2008-88, Class UF, VRN, 1.10%, (1-month LIBOR plus 1.00%), 10/20/38 | 886,102 | | 892,693 | |
| GNMA, Series 2009-127, Class FA, VRN, 0.65%, (1-month LIBOR plus 0.55%), 9/20/38 | 1,314,094 | | 1,324,296 | |
| GNMA, Series 2009-76, Class FB, VRN, 0.71%, (1-month LIBOR plus 0.60%), 6/16/39 | 236,869 | | 237,243 | |
| GNMA, Series 2009-92, Class FJ, VRN, 0.79%, (1-month LIBOR plus 0.68%), 10/16/39 | 541,944 | | 549,840 | |
| GNMA, Series 2010-101, Class FH, VRN, 0.46%, (1-month LIBOR plus 0.35%), 8/16/40 | 3,056,243 | | 3,071,600 | |
| GNMA, Series 2010-25, Class FB, VRN, 0.66%, (1-month LIBOR plus 0.55%), 2/16/40 | 3,184,168 | | 3,215,884 | |
| GNMA, Series 2012-38, Class FA, VRN, 0.50%, (1-month LIBOR plus 0.40%), 3/20/42 | 2,164,882 | | 2,179,789 | |
| GNMA, Series 2012-97, Class CF, VRN, 0.56%, (1-month LIBOR plus 0.45%), 8/16/42 | 2,009,729 | | 2,026,371 | |
| GNMA, Series 2015-111, Class FK, VRN, 0.30%, (1-month LIBOR plus 0.20%), 8/20/45 | 2,886,090 | | 2,887,471 | |
| GNMA, Series 2016-68, Class MF, VRN, 0.40%, (1-month LIBOR plus 0.30%), 5/20/46 | 1,353,328 | | 1,358,525 | |
| GNMA, Series 2019-110, Class F, VRN, 0.55%, (1-month LIBOR plus 0.45%), 9/20/49 | 9,474,563 | | 9,567,402 | |
| GNMA, Series 2021-151, Class AB SEQ, 1.75%, 2/16/62 | 3,160,436 | | 3,126,024 | |
| GNMA, Series 2021-164, Class AH SEQ, 1.50%, 10/16/63 | 2,861,583 | | 2,796,709 | |
| | 49,474,109 | |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $49,404,937) | | 49,474,109 | |
| TEMPORARY CASH INVESTMENTS — 8.8% |
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| Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.00% - 2.375%, 4/30/24 - 5/15/51, valued at $11,213,144), in a joint trading account at 0.01%, dated 12/31/21, due 1/3/22 (Delivery value $10,990,843) | | 10,990,834 | |
| Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.875%, 2/15/41, valued at $37,387,084), at 0.01%, dated 12/31/21, due 1/3/22 (Delivery value $36,654,031) | | 36,654,000 | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 9,511,437 | | 9,511,437 | |
TOTAL TEMPORARY CASH INVESTMENTS (Cost $57,156,271) | | 57,156,271 | |
TOTAL INVESTMENT SECURITIES — 120.7% (Cost $782,147,262) |
| 787,969,759 | |
| OTHER ASSETS AND LIABILITIES — (20.7)% |
| (135,151,440) | |
| TOTAL NET ASSETS — 100.0% |
| $ | 652,818,319 | |
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| FUTURES CONTRACTS SOLD |
| Reference Entity | Contracts | Expiration
Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 10-Year Notes | 28 | | March 2022 | $ | 3,653,125 | | $ | (40,742) | |
| U.S. Treasury 10-Year Ultra Notes | 12 | | March 2022 | 1,757,250 | | (28,523) | |
| U.S. Treasury 2-Year Notes | 28 | | March 2022 | 6,108,813 | | 4,320 | |
| U.S. Treasury 5-Year Notes | 38 | | March 2022 | 4,597,109 | | (18,357) | |
| U.S. Treasury Long Bonds | 36 | | March 2022 | 5,775,750 | | (74,618) | |
| U.S. Treasury Ultra Bonds | 8 | | March 2022 | 1,577,000 | | (31,815) | |
| | | $ | 23,469,047 | | $ | (189,735) | |
^Amount represents value and unrealized appreciation (depreciation).
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| NOTES TO SCHEDULE OF INVESTMENTS |
| GNMA | - | Government National Mortgage Association |
| H15T1Y | - | Constant Maturity U.S. Treasury Note Yield Curve Rate Index |
| LIBOR | - | London Interbank Offered Rate |
| SEQ | - | Sequential Payer |
| TBA | - | To-Be-Announced. Security was purchased on a forward commitment basis with an approximate principal amount and maturity date. Actual principal amount and maturity date will be determined upon settlement. |
| VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
(1)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.
(2)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward commitments and/or futures contracts. At the period end, the aggregate value of securities pledged was $347,690.
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 Board of Trustees has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. U.S. Treasury and Government Agency securities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer.
Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund 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; 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.
2. Fair Value Measurements
The fund’s investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
| | | | | | | | | | | |
| Level 1 ($) | Level 2 ($) | Level 3 ($) |
| Assets | | | |
| Investment Securities | | | |
| U.S. Government Agency Mortgage-Backed Securities | — | | 681,339,379 | | — | |
| U.S. Government Agency Collateralized Mortgage Obligations | — | | 49,474,109 | | — | |
| Temporary Cash Investments | 9,511,437 | | 47,644,834 | | — | |
| 9,511,437 | | 778,458,322 | | — | |
| Other Financial Instruments | | | |
| Futures Contracts | 4,320 | | — | | — | |
| | | |
| Liabilities | | | |
| Other Financial Instruments | | | |
| Futures Contracts | 194,055 | | — | | — | |
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.
