American Century Investments®
Quarterly Portfolio Holdings
VP Income & Growth Fund
September 30, 2019
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| VP Income & Growth - Schedule of Investments | |
SEPTEMBER 30, 2019 (UNAUDITED) | |
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| | | | | |
| | Shares/
Principal Amount ($) | Value ($) |
| COMMON STOCKS — 97.1% | | |
| Aerospace and Defense — 0.2% | | |
| Lockheed Martin Corp. | 1,641 |
| 640,089 |
|
| Air Freight and Logistics — 1.4% | | |
| CH Robinson Worldwide, Inc. | 6,868 |
| 582,269 |
|
| United Parcel Service, Inc., Class B | 37,301 |
| 4,469,406 |
|
| | | 5,051,675 |
|
| Automobiles — 0.4% | | |
| Ford Motor Co. | 161,794 |
| 1,482,033 |
|
| Banks — 6.4% | | |
| Bank of America Corp. | 135,738 |
| 3,959,477 |
|
| BB&T Corp. | 14,924 |
| 796,494 |
|
| Comerica, Inc. | 44,947 |
| 2,966,053 |
|
| Fifth Third Bancorp | 7,445 |
| 203,844 |
|
| Huntington Bancshares, Inc. | 73,196 |
| 1,044,507 |
|
| JPMorgan Chase & Co. | 72,233 |
| 8,501,102 |
|
| Wells Fargo & Co. | 120,946 |
| 6,100,516 |
|
| | | 23,571,993 |
|
| Beverages — 2.7% | | |
| Coca-Cola Co. (The) | 82,780 |
| 4,506,543 |
|
| PepsiCo, Inc. | 39,111 |
| 5,362,118 |
|
| | | 9,868,661 |
|
| Biotechnology — 3.8% | | |
| AbbVie, Inc. | 22,113 |
| 1,674,396 |
|
| Amgen, Inc. | 25,634 |
| 4,960,435 |
|
Biogen, Inc.(1) | 13,980 |
| 3,254,824 |
|
| Gilead Sciences, Inc. | 63,155 |
| 4,002,764 |
|
| | | 13,892,419 |
|
| Building Products — 1.1% | | |
| Johnson Controls International plc | 89,770 |
| 3,940,005 |
|
| Capital Markets — 2.2% | | |
| Franklin Resources, Inc. | 84,390 |
| 2,435,496 |
|
| Janus Henderson Group plc | 121,492 |
| 2,728,710 |
|
| TD Ameritrade Holding Corp. | 60,400 |
| 2,820,680 |
|
| | | 7,984,886 |
|
| Commercial Services and Supplies — 1.4% | | |
| Republic Services, Inc. | 22,533 |
| 1,950,231 |
|
| Waste Management, Inc. | 29,396 |
| 3,380,540 |
|
| | | 5,330,771 |
|
| Communications Equipment — 2.4% | | |
| Cisco Systems, Inc. | 124,730 |
| 6,162,909 |
|
| Juniper Networks, Inc. | 111,965 |
| 2,771,134 |
|
| | | 8,934,043 |
|
| Consumer Finance — 1.7% | | |
| Discover Financial Services | 35,143 |
| 2,849,746 |
|
|
| | | | | |
| Synchrony Financial | 102,429 |
| 3,491,805 |
|
| | | 6,341,551 |
|
| Diversified Financial Services — 0.7% | | |
Berkshire Hathaway, Inc., Class B(1) | 13,167 |
| 2,738,999 |
|
| Diversified Telecommunication Services — 3.3% | | |
| AT&T, Inc. | 132,353 |
| 5,008,237 |
|
| Verizon Communications, Inc. | 116,546 |
| 7,034,717 |
|
| | | 12,042,954 |
|
| Electric Utilities — 0.4% | | |
| IDACORP, Inc. | 12,106 |
| 1,363,983 |
|
| Electrical Equipment — 0.8% | | |
| Rockwell Automation, Inc. | 18,048 |
| 2,974,310 |
|
| Electronic Equipment, Instruments and Components — 0.7% | | |
| National Instruments Corp. | 65,461 |
| 2,748,707 |
|
| Entertainment — 0.4% | | |
Take-Two Interactive Software, Inc.(1) | 5,308 |
| 665,305 |
|
| Walt Disney Co. (The) | 5,461 |
| 711,677 |
|
| | | 1,376,982 |
|
| Equity Real Estate Investment Trusts (REITs) — 5.5% | | |
| Apple Hospitality REIT, Inc. | 27,226 |
| 451,407 |
|
| Brandywine Realty Trust | 16,782 |
| 254,247 |
|
| Corporate Office Properties Trust | 72,332 |
| 2,154,047 |
|
| EPR Properties | 36,863 |
| 2,833,290 |
|
| Healthcare Realty Trust, Inc. | 37,641 |
| 1,260,974 |
|
| Healthcare Trust of America, Inc., Class A | 100,288 |
| 2,946,461 |
|
| Industrial Logistics Properties Trust | 42,618 |
| 905,633 |
|
| Life Storage, Inc. | 28,874 |
| 3,043,608 |
|
| Mid-America Apartment Communities, Inc. | 5,133 |
| 667,341 |
|
| National Retail Properties, Inc. | 12,537 |
| 707,087 |
|
| Tanger Factory Outlet Centers, Inc. | 136,689 |
| 2,115,946 |
|
| Weingarten Realty Investors | 96,207 |
| 2,802,510 |
|
| | | 20,142,551 |
|
| Food Products — 2.6% | | |
| Campbell Soup Co. | 70,026 |
| 3,285,620 |
|
| General Mills, Inc. | 57,690 |
| 3,179,873 |
|
| Hershey Co. (The) | 19,221 |
| 2,979,063 |
|
| | | 9,444,556 |
|
| Health Care Equipment and Supplies — 1.5% | | |
| Medtronic plc | 12,961 |
| 1,407,824 |
|
| Stryker Corp. | 18,347 |
| 3,968,456 |
|
| | | 5,376,280 |
|
| Health Care Providers and Services — 0.1% | | |
| UnitedHealth Group, Inc. | 2,392 |
| 519,830 |
|
| Health Care Technology — 0.1% | | |
Veeva Systems, Inc., Class A(1) | 3,401 |
| 519,299 |
|
| Hotels, Restaurants and Leisure — 2.1% | | |
| Darden Restaurants, Inc. | 27,960 |
| 3,305,431 |
|
| Starbucks Corp. | 51,853 |
| 4,584,843 |
|
| | | 7,890,274 |
|
| | | |
|
| | | | | |
| Household Durables — 0.5% | | |
| Garmin Ltd. | 20,352 |
| 1,723,611 |
|
| Household Products — 3.7% | | |
| Colgate-Palmolive Co. | 50,936 |
| 3,744,305 |
|
| Kimberly-Clark Corp. | 24,718 |
| 3,511,192 |
|
| Procter & Gamble Co. (The) | 51,715 |
| 6,432,312 |
|
| | | 13,687,809 |
|
| Insurance — 2.6% | | |
| MetLife, Inc. | 78,405 |
| 3,697,580 |
|
| Prudential Financial, Inc. | 32,626 |
| 2,934,708 |
|
| Unum Group | 92,879 |
| 2,760,364 |
|
| | | 9,392,652 |
|
| Interactive Media and Services — 4.5% | | |
Alphabet, Inc., Class A(1) | 10,710 |
| 13,078,410 |
|
Facebook, Inc., Class A(1) | 20,152 |
| 3,588,668 |
|
| | | 16,667,078 |
|
| Internet and Direct Marketing Retail — 3.7% | | |
Amazon.com, Inc.(1) | 5,892 |
| 10,227,982 |
|
| eBay, Inc. | 90,515 |
| 3,528,274 |
|
| | | 13,756,256 |
|
| IT Services — 3.8% | | |
| Amdocs Ltd. | 44,714 |
| 2,956,043 |
|
| International Business Machines Corp. | 35,643 |
| 5,183,205 |
|
| Mastercard, Inc., Class A | 2,089 |
| 567,310 |
|
| MAXIMUS, Inc. | 7,115 |
| 549,705 |
|
PayPal Holdings, Inc.(1) | 8,805 |
| 912,110 |
|
| Visa, Inc., Class A | 12,350 |
| 2,124,323 |
|
| Western Union Co. (The) | 77,791 |
| 1,802,417 |
|
| | | 14,095,113 |
|
| Machinery — 1.7% | | |
| Cummins, Inc. | 19,203 |
| 3,123,752 |
|
| Snap-on, Inc. | 18,810 |
| 2,944,517 |
|
| | | 6,068,269 |
|
| Media — 0.9% | | |
| Comcast Corp., Class A | 6,161 |
| 277,738 |
|
| Interpublic Group of Cos., Inc. (The) | 135,813 |
| 2,928,128 |
|
| | | 3,205,866 |
|
| Multiline Retail — 0.1% | | |
| Target Corp. | 4,535 |
| 484,837 |
|
| Oil, Gas and Consumable Fuels — 4.4% | | |
| Chevron Corp. | 55,788 |
| 6,616,457 |
|
| Exxon Mobil Corp. | 20,617 |
| 1,455,766 |
|
| HollyFrontier Corp. | 65,218 |
| 3,498,294 |
|
| Occidental Petroleum Corp. | 13,381 |
| 595,053 |
|
| Phillips 66 | 38,648 |
| 3,957,555 |
|
| | | 16,123,125 |
|
| Paper and Forest Products — 0.6% | | |
| Domtar Corp. | 63,220 |
| 2,263,908 |
|
| | | |
|
| | | | | |
| Pharmaceuticals — 6.6% | | |
| Bristol-Myers Squibb Co. | 23,730 |
| 1,203,348 |
|
| Eli Lilly & Co. | 36,949 |
| 4,132,007 |
|
| Johnson & Johnson | 54,601 |
| 7,064,277 |
|
| Merck & Co., Inc. | 71,216 |
| 5,994,963 |
|
| Pfizer, Inc. | 158,069 |
| 5,679,419 |
|
| | | 24,074,014 |
|
| Semiconductors and Semiconductor Equipment — 5.0% | | |
| Applied Materials, Inc. | 45,471 |
| 2,269,003 |
|
| Broadcom, Inc. | 17,144 |
| 4,732,944 |
|
| Intel Corp. | 130,871 |
| 6,743,783 |
|
| QUALCOMM, Inc. | 58,216 |
| 4,440,716 |
|
| | | 18,186,446 |
|
| Software — 7.9% | | |
| Intuit, Inc. | 9,248 |
| 2,459,413 |
|
| LogMeIn, Inc. | 22,385 |
| 1,588,440 |
|
| Microsoft Corp. | 131,415 |
| 18,270,627 |
|
| Oracle Corp. (New York) | 94,861 |
| 5,220,201 |
|
Zscaler, Inc.(1) | 30,675 |
| 1,449,701 |
|
| | | 28,988,382 |
|
| Specialty Retail — 2.1% | | |
AutoZone, Inc.(1) | 1,243 |
| 1,348,183 |
|
| Home Depot, Inc. (The) | 26,968 |
| 6,257,115 |
|
| | | 7,605,298 |
|
| Technology Hardware, Storage and Peripherals — 5.4% | | |
| Apple, Inc. | 55,525 |
| 12,435,934 |
|
| HP, Inc. | 138,455 |
| 2,619,569 |
|
| NetApp, Inc. | 34,039 |
| 1,787,388 |
|
| Seagate Technology plc | 53,013 |
| 2,851,569 |
|
| | | 19,694,460 |
|
| Textiles, Apparel and Luxury Goods — 0.4% | | |
| Ralph Lauren Corp. | 14,613 |
| 1,395,103 |
|
| Tobacco — 1.3% | | |
| Altria Group, Inc. | 50,067 |
| 2,047,740 |
|
| Philip Morris International, Inc. | 35,218 |
| 2,674,103 |
|
| | | 4,721,843 |
|
TOTAL COMMON STOCKS
(Cost $274,029,863) | | 356,310,921 |
|
| TEMPORARY CASH INVESTMENTS — 2.8% | | |
| Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 1.375% - 2.875%, 6/30/20 - 2/15/29, valued at $9,006,026), in a joint trading account at 1.80%, dated 9/30/19, due 10/1/19 (Delivery value $8,826,927) | | 8,826,486 |
|
| Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.00%, 5/15/45, valued at $1,485,268), at 0.85%, dated 9/30/19, due 10/1/19 (Delivery value $1,456,034) | | 1,456,000 |
|
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 6,161 |
| 6,161 |
|
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $10,288,647) | | 10,288,647 |
|
TOTAL INVESTMENT SECURITIES — 99.9%
(Cost $284,318,510) | | 366,599,568 |
|
| OTHER ASSETS AND LIABILITIES — 0.1% | | 358,921 |
|
| TOTAL NET ASSETS — 100.0% | | $ | 366,958,489 |
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|
| | | | | | | | | | | |
| FUTURES CONTRACTS PURCHASED |
| Reference Entity | Contracts | Expiration
Date | Notional
Amount | Underlying
Contract
Value | Unrealized
Appreciation
(Depreciation) |
| S&P 500 E-Mini | 49 | December 2019 | $ | 2,450 |
| $ | 7,297,325 |
| $ | (71,125 | ) |
|
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| NOTES TO SCHEDULE OF INVESTMENTS |
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value 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 Directors 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.
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 net asset value 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 Directors or its delegate, in accordance with policies and procedures adopted by the Board of Directors. 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 net asset value 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. The fund also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that the Board of Directors, or its delegate, deems appropriate. The fund 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.
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| • | Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments. |
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| • | 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. |
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| • | 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.
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.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
|
| | | | | | |
| | Level 1 ($) | Level 2 ($) | Level 3 ($) |
| Assets |
| Investment Securities |
| Common Stocks | 356,310,921 |
| — |
| — |
|
| Temporary Cash Investments | 6,161 |
| 10,282,486 |
| — |
|
| | 356,317,082 |
| 10,282,486 |
| — |
|
| Liabilities |
| Other Financial Instruments |
| Futures Contracts | 71,125 |
| — |
| — |
|
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.
