American Century Quantitative Equity Funds NCSR Certified annual shareholder report (management investment company)

American Century Quantitative Equity Funds N-CSRCertified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES



Investment Company Act file number		811-05447

AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.
(Exact name of registrant as specified in charter)

4500 MAIN STREET, KANSAS CITY, MISSOURI				64111
(Address of principal executive offices)				(Zip Code)

CHARLES A. ETHERINGTON 4500 MAIN STREET, KANSAS CITY, MISSOURI 64111
(Name and address of agent for service)

Registrant’s telephone number, including area code:			816-531-5575

Date of fiscal year end:	10-31

Date of reporting period:	10-31-2018

ITEM 1. REPORTS TO STOCKHOLDERS.



ANNUAL REPORT
OCTOBER 31, 2018

AC Alternatives^® Emerging Opportunities Total Return Fund

Investor Class (AEOVX)

I Class (AEOUX)

Y Class (AEOWX)

A Class (AEOLX)

R Class (AEORX)

R5 Class (AEOJX)

R6 Class (AEODX)

Table of Contents



President’s Letter	2
Performance	3
Portfolio Commentary	5
Fund Characteristics	7
Shareholder Fee Example	8
Schedule of Investments	10
Statement of Assets and Liabilities	17
Statement of Operations	18
Statement of Changes in Net Assets	19
Notes to Financial Statements	20
Financial Highlights	29
Report of Independent Registered Public Accounting Firm	31
Management	32
Approval of Management Agreement	35
Additional Information	39

Any opinions expressed in this report reflect those of the author as of the date of the report, and do not necessarily represent the opinions of American Century Investments^® or any other person in the American Century Investments organization. Any such opinions are subject to change at any time based upon market or other conditions and American Century Investments disclaims any responsibility to update such opinions. These opinions may not be relied upon as investment advice and, because investment decisions made by American Century Investments funds are based on numerous factors, may not be relied upon as an indication of trading intent on behalf of any American Century Investments fund. Security examples are used for representational purposes only and are not intended as recommendations to purchase or sell securities. Performance information for comparative indices and securities is provided to American Century Investments by third party vendors. To the best of American Century Investments’ knowledge, such information is accurate at the time of printing.

President’s Letter

Jonathan Thomas

Dear Investor:

Thank you for reviewing this annual report for the 12 months ended October 31, 2018. Annual reports help convey important information about fund returns, including market factors that affected performance during the reporting period. For additional investment and market insights, we encourage you to visit our website, americancentury.com.

Rising Rates, Heightened Volatility Challenge Investors

U.S. stocks generally delivered gains for the period, but returns were considerably weaker than the robust, double-digit results of the previous fiscal year. Early on, a backdrop of robust corporate earnings results, improving global economic growth, and growth-oriented U.S. tax reform helped drive stock prices higher. The S&P 500 Index returned more than 10% just in the first three months of the reporting period.

Investor sentiment shifted dramatically in early February, as volatility resurfaced after an extended period of relative dormancy. Better-than-expected U.S. economic data triggered expectations for rising inflation, higher interest rates, and a more-hawkish Federal Reserve (Fed). In response, U.S. Treasury yields soared, and stock prices plunged. Although this bout of market unrest quickly subsided, volatility remained a formidable force throughout the rest of the period. Stocks remained resilient, though, and the S&P 500 Index advanced 7.35% for the 12-month period. Growth stocks outpaced value stocks, and large-cap stocks outperformed small-cap stocks. Meanwhile, rising U.S. Treasury yields and Fed rate hikes weighed on interest-rate sensitive assets, including investment-grade bonds and real estate investment trusts.

Outside the U.S., economic growth moderated as the period unfolded, and global bond yields were flat to modestly higher. The U.S. dollar continued to gain ground versus other currencies, which drove down non-U.S. bond returns for unhedged investors. The strong dollar, combined with rising U.S. interest rates, geopolitical tensions, and fiscal challenges in several developing countries, led to negative results for emerging markets bonds.

With global economic growth diverging, Treasury yields rising, and volatility lingering, investors likely will face opportunities and challenges in the months ahead. We believe this scenario underscores the importance of using professionally managed portfolios in pursuit of investment goals. We appreciate your continued trust and confidence in us.

Sincerely,

Jonathan Thomas

President and Chief Executive Officer

American Century Investments

Performance



Total Returns as of October 31, 2018
			Average Annual Returns
	Ticker Symbol	1 year	Since Inception	Inception Date
Investor Class	AEOVX	-2.48%	2.53%	12/6/16
ICE 3-Month USD LIBOR	—	2.11%	1.67%	—
JPMorgan Emerging Market Bond (EMBI) Global Diversified Index	—	-4.39%	2.99%	—
JPMorgan Corporate Emerging Market Bond (CEMBI) Broad Diversified Index	—	-1.86%	3.28%	—
JPMorgan Global Bond Emerging Market (GBI-EM) Global Diversified Index	—	-6.58%	2.49%	—
JPMorgan Emerging Local Markets (ELMI) Plus Index	—	-3.14%	2.73%	—
Blended Index	—	-3.94%	2.92%	—
I Class	AEOUX	-2.40%	0.26%	4/10/17
Y Class	AEOWX	-2.33%	0.31%	4/10/17
A Class	AEOLX			12/6/16
No sales charge		-2.74%	2.28%
With sales charge		-7.15%	-0.16%
R Class	AEORX	-3.00%	2.03%	12/6/16
R5 Class	AEOJX	-2.37%	2.70%	12/6/16
R6 Class	AEODX	-2.31%	2.78%	12/6/16

Fund returns would have been lower if a portion of the fees had not been waived.

The blended index combines monthly returns of four widely known indices. The JPMorgan Emerging Market Bond (EMBI) Global Diversified Index represents 25% of the index, the JPMorgan Corporate Emerging Market Bond (CEMBI) Broad Diversified Index represents 25% of the index, the JPMorgan Global Bond Emerging Market (GBI-EM) Global Diversified Index represents 25% of the index and the remaining 25% is represented by the JPMorgan Emerging Local Markets (ELMI) Plus Index.

Sales charges include initial sales charges and contingent deferred sales charges (CDSCs), as applicable. A Class shares have a 4.50% maximum initial sales charge and may be subject to a maximum CDSC of 1.00%. C Class shares redeemed within 12 months of purchase are subject to a maximum CDSC of 1.00%. The SEC requires that mutual funds provide performance information net of maximum sales charges in all cases where charges could be applied.

Data presented reflect past performance. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance shown. Total returns for periods less than one year are not annualized. Investment return and principal value will fluctuate, and redemption value may be more or less than original cost. Data assumes reinvestment of dividends and capital gains, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. To obtain performance data current to the most recent month end, please call 1-800-345-2021 or visit americancentury.com. For additional information about the fund, please consult the prospectus.

Growth of $10,000 Over Life of Class

$10,000 investment made December 6, 2016

Performance for other share classes will vary due to differences in fee structure.



Value on October 31, 2018
	Investor Class — $10,487

	ICE 3-Month USD LIBOR — $10,321

	JPMorgan Emerging Market Bond (EMBI) Global Diversified Index — $10,577

	JPMorgan Corporate Emerging Market Bond (CEMBI) Broad Diversified Index — $10,633

	JPMorgan Global Bond Emerging Market (GBI-EM) Global Diversified Index — $10,479

	JPMorgan Emerging Local Markets (ELMI) Plus Index — $10,525

	Blended Index — $10,563

Ending value of Investor Class would have been lower if a portion of the fees had not been waived.



Total Annual Fund Operating Expenses
Investor Class	I Class	Y Class	A Class	R Class	R5 Class	R6 Class
0.99%	0.89%	0.79%	1.24%	1.49%	0.79%	0.74%

The total annual fund operating expenses shown is as stated in the fund’s prospectus current as of the date of this report. The prospectus may vary from the expense ratio shown elsewhere in this report because it is based on a different time period, includes acquired fund fees and expenses, and, if applicable, does not include fee waivers or expense reimbursements.

Portfolio Commentary

Portfolio Managers: Margé Karner, Kevin Akioka, John Lovito, Abdelak Adjriou, and Alessandra Alecci

Alessandra Alecci joined the fund's management team in 2018.

Performance Summary

AC Alternatives Emerging Opportunities Total Return declined -2.48%* for the 12-month period ended October 31, 2018. For comparison purposes, the ICE 3-Month USD LIBOR, a measure of global short-term interest rates for three-month deposits, gained 2.11% over the period.

Market Review

Emerging markets debt performance was mixed in the reporting period amid volatile market trends. Early in the reporting period, emerging markets debt rallied in a risk-on environment. A favorable election result in South Africa enabled the country to maintain its investment-grade rating, while oil and other commodity prices were stable or rising. The spreads (differences in yield) between high-yield and investment-grade issuers narrowed to near-historic levels.

Later in the period, several broad influences began weighing on performance. Tax cuts in the U.S. helped drive domestic economic growth higher, exacerbating the gap between the growth rate in the U.S. and the growth rates in other developed markets. These dynamics pushed U.S. interest rates and the U.S. dollar higher, pressuring export activity among emerging markets and straining the solvency of countries with high external debt loads, especially Argentina and Turkey. Global trade tensions also weighed on emerging markets. In particular, escalating tariffs between the U.S. and China pressured trade volumes and eroded investor confidence. Slowing growth in China was another headwind for the asset class.

Argentina and Turkey were key sources of volatility. Despite positive policy reforms, Argentina faced an economic crisis as U.S. dollar-linked external debt payments escalated. The country secured a financing package from the International Monetary Fund (IMF) in June, and the IMF expanded the package in September, alleviating investor worries about short-term fiscal pressures. Although growth in Turkey was strong, Turkish central bankers faced a credibility crisis when they declined to raise interest rates to combat accelerating inflation. Political tensions between Turkey and the U.S. added to the uncertainty. Central bankers finally enacted a steep rate hike late in the period, quelling inflation and calming investors. Additionally, U.S.-Turkey relations improved after Turkish authorities released an American pastor held captive for two years.

In this environment, investment-grade securities generally outpaced lower-quality bonds. External sovereign and corporate debt indices declined but outperformed local-currency sovereigns, which suffered more significant drawdowns.

Positions in Turkey, Argentina Were Main Detractors

From a broad portfolio perspective, our allocations to external debt, particularly in Turkey and Argentina, were key detractors from performance. Currency exposure in both countries also

*All fund returns referenced in this commentary are for Investor Class shares. Fund returns would have been lower if a portion of the fees had not been waived. Performance for other share classes will vary due to differences in fee structure; when Investor Class performance exceeds that of the index, other share classes may not. See page 3 for returns for all share classes.

weighed on returns, as the two nations worked through significant political and fiscal issues. We

exited positions in Turkey as asset values began to decline, which minimized our losses. We added back Turkish lira exposure when valuations appeared more attractive. In Argentina, a bailout

package from the IMF helped improve investor sentiment late in the period. Similarly, in Turkey,

political progress and a central bank rate hike helped restore investor confidence late in the period. Nevertheless, these positions hurt performance overall.

In general, currency exposure was a headwind in the second half of the period, as the U.S. dollar rose and global trade activity remained under pressure. In addition to the Argentine peso and Turkish lira, positions in the Russian ruble and Indonesian rupiah were leading detractors.

Local Emerging Markets Debt Positions Added Value

Exposure to local emerging markets debt aided performance, despite headwinds in the sector. Local positions in Hungary were positive, as the country’s central bank remained accommodative. Exposure in South Africa also boosted results. Moody’s rating re-evaluation in 2017 and ongoing political and economic reforms aided the country’s bonds. As of period-end, real yields remained high, while inflation remained low and stable.

On the currency side, our long position in the Brazilian real performed well after the country’s presidential election. Uncertainty ahead of the election caused the currency to depreciate. The external fundamentals appear sound. The president-elect has promised to reform the pension system, and Brazil is recovering from recent economic weakness. Our short positions in Asian currencies, such as the Chinese yuan, Taiwan dollar, and South Korean won, also contributed to performance, as trade tensions escalated in the region.

Positioning for the Future

Looking ahead, we anticipate continued volatility. We expect U.S.-China trade tensions, diverging global growth, interest rate trends, and geopolitical events to challenge investor confidence. We believe prevailing risks include external financing needs (Turkey) and continued domestic political challenges (Turkey, Argentina, South Africa). However, the worst in Argentina and Turkey seems to be over after recent policy actions. In China, deleveraging and a possible slowdown while rebalancing to a consumption-led economy remain important drivers for commodities and the economic outlooks for many countries. We also believe U.S. dollar strength will moderate in conjunction with a slowdown in U.S. growth.

We continue to balance these dynamics with our long-term constructive view on emerging markets debt based on fundamental improvement across countries and companies. We remain cautiously constructive on emerging markets fundamentals, believing valuations are fairer after the recent underperformance.

Fund Characteristics



OCTOBER 31, 2018
Portfolio at a Glance
Average Duration (effective)	4.0 years
Weighted Average Life to Maturity	5.8 years

Bond Holdings by Country	% of net assets
United States	18.1%
South Africa	15.4%
Mexico	15.3%
Colombia	5.5%
Indonesia	4.6%
Peru	4.3%
Russia	3.6%
Brazil	2.5%
Hungary	2.3%
Serbia	2.1%
Other Countries	18.7%
Cash and Equivalents*	7.6%
*Includes temporary cash investments and other assets and liabilities.

Types of Investments in Portfolio	% of net assets
Sovereign Governments and Agencies	56.8%
U.S. Treasury Securities	18.1%
Corporate Bonds	17.5%
Temporary Cash Investments	4.4%
Other Assets and Liabilities	3.2%

Shareholder Fee Example

Fund shareholders may incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments and redemption/exchange fees; and (2) ongoing costs, including management fees; distribution and service (12b-1) fees; and other fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in your fund and to compare these costs with the ongoing cost of investing in other mutual funds.

The example is based on an investment of $1,000 made at the beginning of the period and held for the entire period from May 1, 2018 to October 31, 2018.

Actual Expenses

The table provides information about actual account values and actual expenses for each class. You may use the information, together with the amount you invested, to estimate the expenses that you paid over the period. First, identify the share class you own. Then simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

If you hold Investor Class shares of any American Century Investments fund, or I Class shares of the American Century Diversified Bond Fund, in an American Century Investments account (i.e., not a financial intermediary or retirement plan account), American Century Investments may charge you a $12.50 semiannual account maintenance fee if the value of those shares is less than $10,000. We will redeem shares automatically in one of your accounts to pay the $12.50 fee. In determining your total eligible investment amount, we will include your investments in all personal accounts (including American Century Investments Brokerage accounts) registered under your Social Security number. Personal accounts include individual accounts, joint accounts, UGMA/UTMA accounts, personal trusts, Coverdell Education Savings Accounts and IRAs (including traditional, Roth, Rollover, SEP-, SARSEP- and SIMPLE-IRAs), and certain other retirement accounts. If you have only business, business retirement, employer-sponsored or American Century Investments Brokerage accounts, you are currently not subject to this fee. If you are subject to the Account Maintenance Fee, your account value could be reduced by the fee amount.

Hypothetical Example for Comparison Purposes

The table also provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio of each class of your fund and an assumed rate of return of 5% per year before expenses, which is not the actual return of a fund’s share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption/exchange fees. Therefore, the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.



	Beginning Account Value 5/1/18	Ending Account Value 10/31/18	Expenses Paid During Period⁽¹⁾ 5/1/18 - 10/31/18	Annualized Expense Ratio⁽¹⁾
Actual
Investor Class	$1,000	$964.80	$5.45	1.10%
I Class	$1,000	$964.80	$4.95	1.00%
Y Class	$1,000	$965.80	$4.46	0.90%
A Class	$1,000	$963.80	$6.68	1.35%
R Class	$1,000	$962.80	$7.92	1.60%
R5 Class	$1,000	$964.80	$4.46	0.90%
R6 Class	$1,000	$965.80	$4.21	0.85%
Hypothetical
Investor Class	$1,000	$1,019.66	$5.60	1.10%
I Class	$1,000	$1,020.16	$5.09	1.00%
Y Class	$1,000	$1,020.67	$4.58	0.90%
A Class	$1,000	$1,018.40	$6.87	1.35%
R Class	$1,000	$1,017.14	$8.13	1.60%
R5 Class	$1,000	$1,020.67	$4.58	0.90%
R6 Class	$1,000	$1,020.92	$4.33	0.85%

(1)

Expenses are equal to the class's annualized expense ratio listed in the table above, multiplied by the average account value over the period, multiplied by 184, the number of days in the most recent fiscal half-year, divided by 365, to reflect the one-half year period. Annualized expense ratio reflects actual expenses, including any applicable fee waivers or expense reimbursements and excluding any acquired fund fees and expenses.

Schedule of Investments

OCTOBER 31, 2018



		Principal Amount		Value
SOVEREIGN GOVERNMENTS AND AGENCIES — 56.8%
Argentina — 1.4%
Argentine Republic Government International Bond, 6.875%, 1/26/27		$	200,000	$	167,925
Argentine Republic Government International Bond, 6.625%, 7/6/28		250,000		200,438
				368,363
Colombia — 2.5%
Colombia Government International Bond, 7.375%, 9/18/37		200,000		242,250
Colombian TES, 7.50%, 8/26/26	COP	1,330,000,000		427,893
				670,143
Croatia — 1.2%
Croatia Government International Bond, 6.75%, 11/5/19		$	300,000	309,485
Dominican Republic — 0.9%
Dominican Republic International Bond, 6.00%, 7/19/28		250,000		248,438
Egypt — 0.9%
Egypt Government International Bond, 8.50%, 1/31/47		250,000		236,747
El Salvador — 0.8%
El Salvador Government International Bond, 8.625%, 2/28/29		200,000		204,000
Hungary — 2.3%
Hungary Government Bond, 6.75%, 10/22/28	HUF	138,400,000		603,031
Indonesia — 1.6%
Indonesia Treasury Bond, 6.125%, 5/15/28	IDR	7,800,000,000		433,162
Jordan — 0.7%
Jordan Government International Bond, 7.375%, 10/10/47⁽¹⁾		$	200,000	181,638
Mexico — 13.0%
Mexican Bonos, 8.50%, 12/13/18	MXN	26,000,000		1,280,413
Mexican Bonos, 8.00%, 12/7/23	MXN	28,200,000		1,350,440
Mexican Bonos, 5.75%, 3/5/26	MXN	8,830,000		363,989
Mexican Bonos, 10.00%, 11/20/36	MXN	8,440,000		453,876
				3,448,718
Nigeria — 1.7%
Nigeria Government International Bond, 7.14%, 2/23/30⁽¹⁾		$	500,000	461,088
Oman — 1.4%
Oman Government International Bond, 5.375%, 3/8/27		400,000		377,388
Peru — 4.3%
Peru Government Bond, 6.15%, 8/12/32⁽¹⁾	PEN	3,900,000		1,155,353
Russia — 3.2%
Russian Federal Bond - OFZ, 6.70%, 5/15/19	RUB	15,000,000		226,980
Russian Foreign Bond - Eurobond, 5.00%, 4/29/20		$	600,000	611,075
				838,055
Senegal — 1.1%
Senegal Government International Bond, 6.75%, 3/13/48⁽¹⁾		350,000		289,713



		Principal Amount		Value
Serbia — 2.1%
Serbia International Bond, 4.875%, 2/25/20		$	560,000	$	565,340
South Africa — 15.4%
Republic of South Africa Government Bond, 8.00%, 12/21/18	ZAR	18,300,000		1,242,878
Republic of South Africa Government Bond, 7.75%, 2/28/23	ZAR	27,600,000		1,811,061
Republic of South Africa Government Bond, 10.50%, 12/21/26	ZAR	3,540,000		254,919
Republic of South Africa Government Bond, 8.00%, 1/31/30	ZAR	2,900,000		172,863
Republic of South Africa Government International Bond, 6.875%, 5/27/19		$	600,000	609,677
				4,091,398
Thailand — 1.2%
Thailand Government Bond, 4.875%, 6/22/29	THB	9,000,000		318,697
Tunisia — 1.1%
Banque Centrale de Tunisie International Bond, 5.75%, 1/30/25		$	350,000	298,159
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $16,261,256)				15,098,916
U.S. TREASURY SECURITIES — 18.1%
U.S. Treasury Bonds, 3.125%, 5/15/48		135,000		128,374
U.S. Treasury Notes, 1.875%, 12/31/19		1,500,000		1,485,176
U.S. Treasury Notes, 2.50%, 5/31/20		1,465,000		1,457,389
U.S. Treasury Notes, 2.125%, 9/30/24⁽²⁾		1,315,000		1,250,739
U.S. Treasury Notes, 2.875%, 8/15/28		500,000		488,555
TOTAL U.S. TREASURY SECURITIES (Cost $4,858,012)				4,810,233
CORPORATE BONDS — 17.5%
Brazil — 2.5%
Banco do Brasil SA, 6.00%, 1/22/20		275,000		282,219
Globo Comunicacao e Participacoes SA, 5.125%, 3/31/27⁽¹⁾		200,000		186,252
Petrobras Global Finance BV, 5.75%, 2/1/29		200,000		185,500
				653,971
Colombia — 3.0%
Ecopetrol SA, 7.625%, 7/23/19		500,000		515,750
Millicom International Cellular SA, 5.125%, 1/15/28⁽¹⁾		300,000		273,300
				789,050
Ghana — 0.9%
Tullow Oil plc, 7.00%, 3/1/25⁽¹⁾		250,000		245,337
Hong Kong — 1.1%
CK Hutchison International 17 II Ltd., 2.25%, 9/29/20⁽¹⁾		300,000		292,688
India — 1.0%
Vedanta Resources plc, 6.125%, 8/9/24⁽¹⁾		300,000		266,203
Indonesia — 3.0%
Indika Energy Capital III Pte Ltd., 5.875%, 11/9/24⁽¹⁾		300,000		269,049
Minejesa Capital BV, 4.625%, 8/10/30⁽¹⁾		300,000		265,482
Perusahaan Listrik Negara PT, 4.125%, 5/15/27⁽¹⁾		300,000		270,759
				805,290



	Principal Amount/Shares		Value
Malaysia — 1.1%
Petronas Capital Ltd., 5.25%, 8/12/19	$	300,000	$	305,083
Mexico — 2.3%
Cometa Energia SA de CV, 6.375%, 4/24/35⁽¹⁾	345,450		335,017
Petroleos Mexicanos, 3.50%, 7/23/20	275,000		269,844
			604,861
Paraguay — 0.8%
Telefonica Celular del Paraguay SA, 6.75%, 12/13/22	200,000		203,768
Qatar — 1.4%
Ras Laffan Liquefied Natural Gas Co. Ltd. III, 6.75%, 9/30/19	350,000		359,593
Russia — 0.4%
Gazprom OAO Via Gaz Capital SA, MTN, 7.29%, 8/16/37	100,000		110,591
TOTAL CORPORATE BONDS (Cost $4,767,749)			4,636,435
TEMPORARY CASH INVESTMENTS — 4.4%
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 1.625% - 4.75%, 1/31/20 - 8/15/45, valued at $798,733), in a joint trading account at 2.00%, dated 10/31/18, due 11/1/18 (Delivery value $782,559)			782,516
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.00%, 5/15/45, valued at $399,628), at 1.05%, dated 10/31/18, due 11/1/18 (Delivery value $391,011)			391,000
State Street Institutional U.S. Government Money Market Fund, Premier Class	1,085		1,085
TOTAL TEMPORARY CASH INVESTMENTS (Cost $1,174,601)			1,174,601
TOTAL INVESTMENT SECURITIES — 96.8% (Cost $27,061,618)			25,720,185
OTHER ASSETS AND LIABILITIES — 3.2%			845,826
TOTAL NET ASSETS — 100.0%			$	26,566,011

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS



Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
ARS	15,326,006	USD	362,746	Goldman Sachs & Co.	12/19/18	$	39,963
ARS	5,597,108	USD	132,980	Goldman Sachs & Co.	12/19/18	14,091
ARS	9,146,245	USD	236,032	Goldman Sachs & Co.	12/19/18	4,296
USD	226,272	ARS	10,329,332	Goldman Sachs & Co.	12/19/18	(45,143		)
BRL	2,184,250	USD	524,052	Goldman Sachs & Co.	12/19/18	60,560
BRL	802,781	USD	214,212	Goldman Sachs & Co.	12/19/18	652
CAD	1,076,272	USD	830,508	Morgan Stanley	12/19/18	(12,152		)
USD	827,222	CAD	1,076,272	Morgan Stanley	12/19/18	8,866
CLP	181,593,497	USD	266,266	Goldman Sachs & Co.	12/19/18	(5,195		)
USD	265,057	CLP	181,593,497	Goldman Sachs & Co.	12/19/18	3,987
USD	524,490	CNY	3,622,362	Goldman Sachs & Co.	12/19/18	6,207
COP	2,356,445,502	USD	766,259	Goldman Sachs & Co.	12/19/18	(35,794		)
COP	835,645,600	USD	273,021	Goldman Sachs & Co.	12/19/18	(13,982		)
USD	452,519	COP	1,368,418,483	Goldman Sachs & Co.	12/19/18	28,329



Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
USD	259,538	COP	787,398,730	Goldman Sachs & Co.	12/19/18	$	15,455
USD	268,485	COP	809,174,064	Goldman Sachs & Co.	12/19/18	17,653
USD	260,353	COP	798,148,798	Goldman Sachs & Co.	12/19/18	12,938
EUR	463,422	USD	533,870	JPMorgan Chase Bank N.A.	12/19/18	(6,759		)
HUF	119,059,915	USD	427,243	UBS AG	12/19/18	(10,401		)
USD	737,838	HUF	205,365,273	UBS AG	12/19/18	18,829
USD	334,426	HUF	92,085,980	UBS AG	12/19/18	12,022
USD	541,471	HUF	150,361,176	UBS AG	12/19/18	15,039
IDR	11,306,152,944	USD	740,901	Goldman Sachs & Co.	12/19/18	(3,534		)
IDR	6,968,583,735	USD	461,038	Goldman Sachs & Co.	12/19/18	(6,559		)
IDR	4,218,433,932	USD	273,002	Goldman Sachs & Co.	12/19/18	2,116
USD	415,952	IDR	6,337,030,764	Goldman Sachs & Co.	12/19/18	2,662
USD	260,212	IDR	4,012,466,461	Goldman Sachs & Co.	12/19/18	(1,474		)
KRW	292,147,736	USD	263,220	Goldman Sachs & Co.	12/19/18	(6,912		)
KRW	297,442,467	USD	262,823	Goldman Sachs & Co.	12/19/18	(1,871		)
USD	524,710	KRW	589,590,203	Goldman Sachs & Co.	12/19/18	7,450
KZT	195,187,559	USD	503,288	Goldman Sachs & Co.	12/19/18	19,076
KZT	103,048,984	USD	269,057	Goldman Sachs & Co.	12/19/18	6,724
MXN	6,197,506	USD	315,289	JPMorgan Chase Bank N.A.	12/19/18	(12,392		)
USD	2,769,130	MXN	53,458,045	JPMorgan Chase Bank N.A.	12/19/18	156,418
USD	316,049	MXN	6,032,230	JPMorgan Chase Bank N.A.	12/19/18	21,230
USD	267,308	MXN	5,116,350	JPMorgan Chase Bank N.A.	12/19/18	17,251
USD	408,297	MXN	7,854,372	JPMorgan Chase Bank N.A.	12/19/18	24,422
MYR	3,830,957	USD	922,926	Goldman Sachs & Co.	12/19/18	(8,500		)
NOK	6,705,701	USD	814,679	Goldman Sachs & Co.	12/19/18	(17,459		)
NOK	2,266,630	USD	275,956	Goldman Sachs & Co.	12/19/18	(6,483		)
USD	286,824	NOK	2,348,661	Goldman Sachs & Co.	12/19/18	7,599
USD	898,619	PEN	3,010,464	Goldman Sachs & Co.	12/19/18	7,210
USD	293,411	PEN	983,837	Goldman Sachs & Co.	12/19/18	2,094
PHP	13,848,354	USD	256,951	Goldman Sachs & Co.	12/19/18	1,928
USD	917,175	PHP	50,070,419	Goldman Sachs & Co.	12/19/18	(18,832		)
PLN	3,510,709	USD	948,558	Goldman Sachs & Co.	12/19/18	(32,548		)
USD	288,212	PLN	1,061,818	Goldman Sachs & Co.	12/19/18	11,163
RUB	11,744,266	USD	178,276	Goldman Sachs & Co.	12/19/18	(992		)
RUB	22,997,592	USD	344,291	Goldman Sachs & Co.	12/19/18	2,866
USD	11,341	RUB	787,611	Goldman Sachs & Co.	12/19/18	(549		)
THB	15,244,388	USD	466,646	Goldman Sachs & Co.	12/19/18	(6,028		)
USD	255,339	THB	8,413,915	Goldman Sachs & Co.	12/19/18	1,107
USD	533,299	THB	17,515,149	Goldman Sachs & Co.	12/19/18	4,069
TRY	3,474,439	USD	518,009	Goldman Sachs & Co.	12/19/18	85,960
TRY	1,534,557	USD	234,159	Goldman Sachs & Co.	12/19/18	32,596



Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation (Depreciation)
TRY	1,683,948	USD	260,693	Goldman Sachs & Co.	12/19/18	$	32,031
TRY	1,319,632	USD	213,102	Goldman Sachs & Co.	12/19/18	16,293
USD	305,168	TRY	1,820,511	Goldman Sachs & Co.	12/19/18	(11,295		)
USD	314,026	TRY	1,792,931	Goldman Sachs & Co.	12/19/18	2,357
USD	406,968	TWD	12,452,015	Goldman Sachs & Co.	12/19/18	3,358
ZAR	2,936,613	USD	205,451	UBS AG	12/19/18	(7,547		)
ZAR	4,568,517	USD	304,680	UBS AG	12/19/18	3,201
USD	3,162,781	ZAR	47,881,347	UBS AG	12/19/18	(64,034		)
USD	314,179	ZAR	4,534,832	UBS AG	12/19/18	8,568
						$	402,201

FUTURES CONTRACTS PURCHASED



Reference Entity	Contracts	Expiration Date	Notional Amount		Underlying Contract Value		Unrealized Appreciation (Depreciation)
U.S. Treasury 10-Year Ultra Notes	5	December 2018	USD	500,000	$	625,547	$	3,754

FUTURES CONTRACTS SOLD



Reference Entity	Contracts	Expiration Date	Notional Amount		Underlying Contract Value		Unrealized Appreciation (Depreciation)
Euro-Bund 10-Year Bonds	3	December 2018	EUR	300,000	$	544,556	$	1,626

CREDIT DEFAULT SWAP AGREEMENTS



Counterparty/ Reference Entity	Type	Fixed Rate Received (Paid)	Termination Date	Notional Amount		Premiums Paid (Received)			Unrealized Appreciation (Depreciation)			Value^
Bank of America N.A. / Colombia Government International Bond	Buy	(1.00)%	12/20/23	$	910,000	$	5,264		$	5,703		$	10,967
Bank of America N.A. / Mexican Government International Bond	Buy	(1.00)%	12/20/23	$	900,000	7,077			10,236			17,313
Bank of America N.A. / Republic of Korea	Buy	(1.00)%	12/20/23	$	1,750,000	(49,678		)	(1,511		)	(51,189		)
Goldman Sachs & Co. / China International Bond	Buy	(1.00)%	12/20/23	$	890,000	(16,684		)	3,882			(12,802		)
Morgan Stanley / Qatar Government International Bond	Buy	(1.00)%	12/20/23	$	1,800,000	(17,708		)	(7,011		)	(24,719		)
						$	(71,729	)	$	11,299		$	(60,430	)

^The value for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability or profit at the period end. Increasing values in absolute terms when compared to the notional amount of the credit default swap agreement represent a deterioration of the referenced entity's credit soundness and an increased likelihood or risk of a credit event occurring as defined in the agreement.

INTEREST RATE SWAP AGREEMENTS



Counterparty	Floating Rate Index	Pay/Receive Floating Rate Index	Fixed Rate	Termination Date	Notional Amount		Value*
Morgan Stanley	BZDIOVRA	Receive	6.94%	1/2/20	BRL	12,415,809	$	(650	)
Morgan Stanley	BZDIOVRA	Receive	8.41%	1/2/20	BRL	7,290,000	(42,972		)
Morgan Stanley	BZDIOVRA	Pay	11.14%	1/2/23	BRL	2,832,569	65,240
Morgan Stanley	BZDIOVRA	Pay	10.91%	1/2/23	BRL	2,627,527	64,383
							$	86,001


*	Amount represents value and unrealized appreciation (depreciation).



NOTES TO SCHEDULE OF INVESTMENTS
ARS	-	Argentine Peso
BRL	-	Brazilian Real
BZDIOVRA	-	Brazil Interbank Deposit Rate
CAD	-	Canadian Dollar
CLP	-	Chilean Peso
CNY	-	Chinese Yuan
COP	-	Colombian Peso
EUR	-	Euro
HUF	-	Hungarian Forint
IDR	-	Indonesian Rupiah
KRW	-	South Korean Won
KZT	-	Kazakhstani Tenge
MTN	-	Medium Term Note
MXN	-	Mexican Peso
MYR	-	Malaysian Ringgit
NOK	-	Norwegian Krone
PEN	-	Peruvian Sol
PHP	-	Philippine Peso
PLN	-	Polish Zloty
RUB	-	Russian Ruble
THB	-	Thai Baht
TRY	-	Turkish Lira
TWD	-	Taiwanese Dollar
USD	-	United States Dollar
ZAR	-	South African Rand


(1)	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $4,491,879, which represented 16.9% of total net assets.


(2)	Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on forward foreign currency exchange contracts, futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $23,852.

See Notes to Financial Statements.

Statement of Assets and Liabilities



OCTOBER 31, 2018
Assets
Investment securities, at value (cost of $27,061,618)	$	25,720,185
Cash	266
Foreign currency holdings, at value (cost of $49,784)	46,988
Receivable for capital shares sold	882
Receivable for variation margin on futures contracts	306
Unrealized appreciation on forward foreign currency exchange contracts	738,636
Swap agreements, at value (including net premiums paid (received) of $12,341)	157,903
Interest receivable	396,521
	27,061,687

Liabilities
Payable for variation margin on futures contracts	2,344
Unrealized depreciation on forward foreign currency exchange contracts	336,435
Swap agreements, at value (including net premiums paid (received) of $(84,070))	132,332
Accrued management fees	21,033
Distribution and service fees payable	2,224
Accrued foreign taxes	1,308
	495,676

Net Assets	$	26,566,011

Net Assets Consist of:
Capital (par value and paid-in surplus)	$	26,975,932
Distributable earnings	(409,921		)
	$	26,566,011



	Net Assets		Shares Outstanding	Net Asset Value Per Share
Investor Class, $0.01 Par Value		$11,892,333	1,205,090	$9.87
I Class, $0.01 Par Value		$5,020	508	$9.88
Y Class, $0.01 Par Value		$5,021	508	$9.88
A Class, $0.01 Par Value		$6,261,257	635,792	$9.85*
R Class, $0.01 Par Value		$2,085,340	212,193	$9.83
R5 Class, $0.01 Par Value		$4,210,026	425,900	$9.89
R6 Class, $0.01 Par Value		$2,107,014	213,066	$9.89

*Maximum offering price $10.31 (net asset value divided by 0.955).

See Notes to Financial Statements.

Statement of Operations



YEAR ENDED OCTOBER 31, 2018
Investment Income (Loss)
Income:
Interest (net of foreign taxes withheld of $4,208)	$	1,292,459

Expenses:
Management fees	319,362
Distribution and service fees:
A Class	16,068
R Class	10,710
Directors' fees and expenses	1,724
Other expenses	2,270
	350,134
Fees waived⁽¹⁾	(20,578		)
	329,556

Net investment income (loss)	962,903

Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment transactions	(92,079		)
Forward foreign currency exchange contract transactions	51,138
Futures contract transactions	(8,272		)
Swap agreement transactions	(62,880		)
Foreign currency translation transactions	(40,149		)
	(152,242		)

Change in net unrealized appreciation (depreciation) on:
Investments (includes (increase) decrease in accrued foreign taxes of $415)	(1,804,813		)
Forward foreign currency exchange contracts	133,022
Futures contracts	5,380
Swap agreements	155,740
Translation of assets and liabilities in foreign currencies	(6,153		)
	(1,516,824		)

Net realized and unrealized gain (loss)	(1,669,066		)

Net Increase (Decrease) in Net Assets Resulting from Operations	$	(706,163	)


(1)	Amount consists of $9,243, $3, $3, $4,843, $1,614, $3,247 and $1,625 for Investor Class, I Class, Y Class, A Class, R Class, R5 Class and R6 Class, respectively.

See Notes to Financial Statements.

Statement of Changes in Net Assets



YEAR ENDED OCTOBER 31, 2018 AND PERIOD ENDED OCTOBER 31, 2017
Increase (Decrease) in Net Assets	October 31, 2018			October 31, 2017⁽¹⁾
Operations
Net investment income (loss)	$	962,903		$	505,299
Net realized gain (loss)	(152,242		)	728,974
Change in net unrealized appreciation (depreciation)	(1,516,824		)	666,137
Net increase (decrease) in net assets resulting from operations	(706,163		)	1,900,410

Distributions to Shareholders
From earnings:
Investor Class	(716,101		)	(13,559		)
I Class	(303		)	—
Y Class	(307		)	—
A Class	(359,357		)	(6,360		)
R Class	(114,523		)	(1,780		)
R5 Class	(259,152		)	(5,480		)
R6 Class	(130,682		)	(2,820		)
Decrease in net assets from distributions	(1,580,425		)	(29,999		)

Capital Share Transactions
Net increase (decrease) in net assets from capital share transactions (Note 5)	1,488,360			25,493,828

Net increase (decrease) in net assets	(798,228		)	27,364,239

Net Assets
Beginning of period	27,364,239			—
End of period	$	26,566,011		$	27,364,239


(1)	December 6, 2016 (fund inception) through October 31, 2017.

See Notes to Financial Statements.

Notes to Financial Statements

OCTOBER 31, 2018

1. Organization

American Century Quantitative Equity Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Maryland corporation. AC Alternatives Emerging Opportunities Total Return Fund (the fund) is one fund in a series issued by the corporation. The fund’s investment objective is to seek total return.

The fund offers the Investor Class, I Class, Y Class, A Class, R Class, R5 Class and R6 Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge. The fund incepted on December 6, 2016 with the commencement of sale of the Investor Class, A Class, R Class, R5 Class and R6 Class. Sale of the I Class and Y Class commenced on April 10, 2017.

2. Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by the fund in preparation of its financial statements. The fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

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.

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. Sovereign governments and agencies, corporate bonds, and 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. Fixed income securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.

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. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers. Forward foreign currency exchange contracts are valued at the mean of the appropriate forward exchange rate at the close of the NYSE as provided by an independent pricing service. Investments initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.

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.

Security Transactions — Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes. Certain countries impose taxes on realized gains on the sale of securities registered in their country. The fund records the foreign tax expense, if any, on an accrual basis. The foreign tax expense on realized gains and unrealized appreciation reduces the net realized gain (loss) on investment transactions and net unrealized appreciation (depreciation) on investments, respectively.

Investment Income — Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes accretion of discounts and amortization of premiums. Inflation adjustments related to inflation-linked debt securities are reflected as interest income.

Foreign Currency Translations — All assets and liabilities initially expressed in foreign currencies are translated into U.S. dollars at prevailing exchange rates at period end. The fund may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

Repurchase Agreements — The fund may enter into repurchase agreements with institutions that American Century Investment Management, Inc. (ACIM) (the investment advisor) has determined are creditworthy pursuant to criteria adopted by the Board of Directors. The fund requires that the collateral, represented by securities, received in a repurchase transaction be transferred to the custodian in a manner sufficient to enable the fund to obtain those securities in the event of a default under the repurchase agreement. ACIM monitors, on a daily basis, the securities transferred to ensure the value, including accrued interest, of the securities under each repurchase agreement is equal to or greater than amounts owed to the fund under each repurchase agreement.

Joint Trading Account — Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the fund, along with certain other funds in the American Century Investments family of funds, may transfer uninvested cash balances into a joint trading account. These balances are invested in one or more repurchase agreements that are collateralized by U.S. Treasury or Agency obligations.

Segregated Assets — In accordance with the 1940 Act, the fund segregates assets on its books and records to cover certain types of investment securities and other financial instruments. ACIM monitors, on a daily basis, the securities segregated to ensure the fund designates a sufficient amount of liquid assets, marked-to-market daily. The fund may also receive assets or be required to pledge assets at the custodian bank or with a broker for collateral requirements.

Income Tax Status — It is the fund’s policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. The fund files U.S. federal, state, local and non-U.S. tax returns as applicable. The fund's tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

Multiple Class — All shares of the fund represent an equal pro rata interest in the net assets of the class to which such shares belong, and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except for class specific expenses and exclusive rights to vote on matters affecting only individual classes. Income, non-class specific expenses, and realized and unrealized capital gains and losses of the fund are allocated to each class of shares based on their relative net assets.

Distributions to Shareholders — Distributions from net investment income and net realized gains, if any, are generally declared and paid annually.

Indemnifications — Under the corporation’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the fund. In addition, in the normal course of business, the fund enters into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

3. Fees and Transactions with Related Parties

Certain officers and directors of the corporation are also officers and/or directors of American Century Companies, Inc. (ACC). The corporation’s investment advisor, ACIM, the corporation's distributor, American Century Investment Services, Inc. (ACIS), and the corporation’s transfer agent, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC. ACIM owns 99% of the shares of the fund. Related parties do not invest in the fund for the purpose of exercising management or control.

Management Fees — The corporation has entered into a management agreement with ACIM, under which ACIM provides the fund with investment advisory and management services in exchange for a single, unified management fee (the fee) per class. The agreement provides that all expenses of managing and operating the fund, except distribution and service fees, brokerage expenses, taxes, interest, fees and expenses of the independent directors (including legal counsel fees), and extraordinary expenses, will be paid by ACIM. The fee is computed and accrued daily based on each class's daily net assets and paid monthly in arrears. The difference in the fee among the classes is a result of their separate arrangements for non-Rule 12b-1 shareholder services. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the fund’s assets, which do not vary by class. From November 1, 2017 through July 31, 2018, the investment advisor agreed to waive 0.10% of the fund's management fee. Effective August 1, 2018, the investment advisor terminated the waiver and decreased the annual management fee by 0.32%.

The annual management fee and the effective annual management fee before and after waiver for each class for the period ended October 31, 2018 are as follows:



		Effective Annual Management Fee
	Annual Management Fee*	Before Waiver	After Waiver
Investor Class	0.98%	1.22%	1.15%
I Class	0.88%	1.12%	1.05%
Y Class	0.78%	1.02%	0.95%
A Class	0.98%	1.22%	1.15%
R Class	0.98%	1.22%	1.15%
R5 Class	0.78%	1.02%	0.95%
R6 Class	0.73%	0.97%	0.90%

*Prior to August 1, 2018, the annual management fee was 1.30% for the Investor Class, A Class, and R Class, 1.20% for the I Class, 1.10% for the Y Class and R5 Class and 1.05% for the R6 Class.

Distribution and Service Fees — The Board of Directors has adopted a separate Master Distribution and Individual Shareholder Services Plan for each of the A Class and R Class (collectively the plans), pursuant to Rule 12b-1 of the 1940 Act. The plans provide that the A Class will pay ACIS an annual distribution and service fee of 0.25%. The plans provide that the R Class will pay ACIS an annual distribution and service fee of 0.50%. The fees are computed and accrued daily based on each class’s daily net assets and paid monthly in arrears. The fees are used to pay financial intermediaries for distribution and individual shareholder services. Fees incurred under the plans during the period ended October 31, 2018 are detailed in the Statement of Operations.

Directors' Fees and Expenses — The Board of Directors is responsible for overseeing the investment advisor’s management and operations of the fund. The directors receive detailed information about the fund and its investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The fund’s officers do not receive compensation from the fund.

4. Investment Transactions

Purchases of investment securities, excluding short-term investments, for the period ended October 31, 2018 totaled $36,153,296, of which $6,932,379 represented U.S. Treasury and Government Agency obligations.

Sales of investment securities, excluding short-term investments, for the period ended October 31, 2018 totaled $28,893,845, of which $3,945,275 represented U.S. Treasury and Government Agency obligations.

5. Capital Share Transactions

Transactions in shares of the fund were as follows:



	Year ended October 31, 2018					Period ended October 31, 2017⁽¹⁾
	Shares		Amount			Shares		Amount
Investor Class/Shares Authorized	50,000,000					50,000,000
Sold	25,366		$	260,066		1,155,023		$	11,571,560
Issued in reinvestment of distributions	70,069		716,101			1,344		13,559
Redeemed	(35,225	)	(357,374		)	(11,487	)	(120,941		)
	60,210		618,793			1,144,880		11,464,178
I Class/Shares Authorized	50,000,000					50,000,000
Sold	—		—			478		5,000
Issued in reinvestment of distributions	30		303			—		—
	30		303			478		5,000
Y Class/Shares Authorized	50,000,000					50,000,000
Sold	—		—			478		5,000
Issued in reinvestment of distributions	30		307			—		—
	30		307			478		5,000
A Class/Shares Authorized	45,000,000					45,000,000
Sold	—		—			600,000		6,000,000
Issued in reinvestment of distributions	35,162		359,357			630		6,360
	35,162		359,357			600,630		6,006,360
R Class/Shares Authorized	35,000,000					35,000,000
Sold	1,184		12,016			200,307		2,003,224
Issued in reinvestment of distributions	11,206		114,523			176		1,780
Redeemed	(679	)	(6,773		)	(1	)	(14		)
	11,711		119,766			200,482		2,004,990
R5 Class/Shares Authorized	50,000,000					50,000,000
Sold	—		—			400,000		4,000,000
Issued in reinvestment of distributions	25,357		259,152			543		5,480
	25,357		259,152			400,543		4,005,480
R6 Class/Shares Authorized	40,000,000					40,000,000
Sold	—		—			200,000		2,000,000
Issued in reinvestment of distributions	12,787		130,682			279		2,820
	12,787		130,682			200,279		2,002,820
Net increase (decrease)	145,287		$	1,488,360		2,547,770		$	25,493,828


(1)	December 6, 2016 (fund inception) through October 31, 2017 for the Investor Class, A Class, R Class, R5 Class and R6 Class. April 10, 2017 (commencement of sale) through October 31, 2017 for the I Class and Y Class.

6. 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
Sovereign Governments and Agencies	—		$	15,098,916	—
U.S. Treasury Securities	—		4,810,233		—
Corporate Bonds	—		4,636,435		—
Temporary Cash Investments	$	1,085	1,173,516		—
	$	1,085	$	25,719,100	—
Other Financial Instruments
Futures Contracts	$	3,754	$	1,626	—
Swap Agreements	—		157,903		—
Forward Foreign Currency Exchange Contracts	—		738,636		—
	$	3,754	$	898,165	—

Liabilities
Other Financial Instruments
Swap Agreements	—		$	132,332	—
Forward Foreign Currency Exchange Contracts	—		336,435		—
	—		$	468,767	—

7. Derivative Instruments

Credit Risk — The fund is subject to credit risk in the normal course of pursuing its investment objectives. The value of a bond generally declines as the credit quality of its issuer declines. Credit default swap agreements enable a fund to buy/sell protection against a credit event of a specific issuer or index. A fund may attempt to enhance returns by selling protection or attempt to mitigate credit risk by buying protection. The buyer/seller of credit protection against a security or basket of securities may pay/receive an up-front or periodic payment to compensate for/against potential default events. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The risks of entering into swap agreements include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments. The fund's average notional amount held during the period was $4,332,917.

Foreign Currency Risk — The fund is subject to foreign currency exchange rate risk in the normal course of pursuing its investment objectives. The value of foreign investments held by a fund may be significantly affected by changes in foreign currency exchange rates. The dollar value of a foreign security generally decreases when the value of the dollar rises against the foreign currency in which the security is denominated and tends to increase when the value of the dollar declines against such foreign currency. A fund may enter into forward foreign currency exchange contracts to reduce a fund's exposure to foreign currency exchange rate fluctuations or to gain exposure to the fluctuations in the value of foreign currencies. The net U.S. dollar value of foreign currency underlying all contractual commitments held by a fund and the resulting unrealized appreciation or depreciation are determined daily. Realized gain or loss is recorded upon the termination of the contract. Net realized and unrealized gains or losses occurring during the holding period of forward foreign currency exchange contracts are a component of net realized gain (loss) on forward foreign currency exchange contract transactions and change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts, respectively. A fund bears the risk of an unfavorable change in the foreign currency exchange rate underlying the forward contract. Additionally, losses, up to the fair value, may arise if the counterparties do not perform under the contract terms. The fund's average U.S. dollar exposure to foreign currency risk derivative instruments held during the period was $38,398,116.

Interest Rate Risk — The fund is subject to interest rate risk in the normal course of pursuing its investment objectives. A fund may enter into futures contracts or interest rate swap agreements in order to manage its exposure to changes in market conditions. The value of bonds generally declines as interest rates rise. The risks of entering into interest rate risk derivative instruments include the possible lack of liquidity, failure of the counterparty to meet its obligations, and that there may be unfavorable changes in the underlying investments or instruments.

A fund may enter into futures contracts based on a bond index or a specific underlying security. A fund may purchase futures contracts to gain exposure to increases in market value or sell futures contracts to protect against a decline in market value. Upon entering into a futures contract, a fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the contract value and is recorded as unrealized gains and losses. A fund recognizes a realized gain or loss when the futures contract is closed or expires. Net realized and unrealized gains or losses occurring during the holding period of futures contracts are a component of net realized gain (loss) on futures contract transactions and change in net unrealized appreciation (depreciation) on futures contracts, respectively. The fund's average notional exposure to these interest rate risk derivative instruments held during the period was $1,225,000 futures contracts purchased and $476,228 futures contracts sold.

A fund may enter into interest rate swap agreements to gain exposure to declines in interest rates, to protect against increases in interest rates, or to maintain its ability to generate income at prevailing interest rates. A fund will segregate cash, cash equivalents or other appropriate liquid securities on its records in amounts sufficient to meet requirements. Changes in value, including the periodic amounts of interest to be paid or received on swap agreements, are recorded as unrealized appreciation (depreciation) on swap agreements. Upon entering into a centrally cleared swap, a fund is required to deposit cash or securities (initial margin) with a financial intermediary in an amount equal to a certain percentage of the notional amount. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the value and is a component of unrealized gains and losses. Realized gain or loss is recorded upon receipt or payment of a periodic settlement or termination of swap agreements. Net realized and unrealized gains or losses occurring during the holding period of swap agreements are a component of net realized gain (loss) on swap agreement transactions and change in net unrealized appreciation (depreciation) on swap agreements, respectively. The fund's average notional amount on interest rate swap agreements held during the period was $7,756,250.

Value of Derivative Instruments as of October 31, 2018



	Asset Derivatives			Liability Derivatives
Type of Risk Exposure	Location on Statement of Assets and Liabilities	Value		Location on Statement of Assets and Liabilities	Value
Credit Risk	Swap agreements	$	28,280	Swap agreements	$	88,710
Foreign Currency Risk	Unrealized appreciation on forward foreign currency exchange contracts	738,636		Unrealized depreciation on forward foreign currency exchange contracts	336,435
Interest Rate Risk	Receivable for variation margin on futures contracts*	306		Payable for variation margin on futures contracts*	2,344
Interest Rate Risk	Swap agreements	129,623		Swap agreements	43,622
		$	896,845		$	471,111

* Included in the unrealized appreciation (depreciation) on futures contracts, as reported in the Schedule of Investments.

Effect of Derivative Instruments on the Statement of Operations for the Year Ended October 31, 2018



	Net Realized Gain (Loss)				Change in Net Unrealized Appreciation (Depreciation)
Type of Risk Exposure	Location on Statement of Operations	Value			Location on Statement of Operations	Value
Credit Risk	Net realized gain (loss) on swap agreement transactions	$	(74,834	)	Change in net unrealized appreciation (depreciation) on swap agreements	$	37,444
Foreign Currency Risk	Net realized gain (loss) on forward foreign currency exchange contract transactions	51,138			Change in net unrealized appreciation (depreciation) on forward foreign currency exchange contracts	133,022
Interest Rate Risk	Net realized gain (loss) on futures contract transactions	(8,272		)	Change in net unrealized appreciation (depreciation) on futures contracts	5,380
Interest Rate Risk	Net realized gain (loss) on swap agreement transactions	11,954			Change in net unrealized appreciation (depreciation) on swap agreements	118,296
		$	(20,014	)		$	294,142

Counterparty Risk — The fund is subject to counterparty risk, or the risk that an institution will fail to perform its obligations to the fund. The investment advisor attempts to minimize counterparty risk prior to entering into transactions by performing extensive reviews of the creditworthiness of all potential counterparties. The fund may also enter into agreements that provide provisions for legally enforceable master netting arrangements to manage the credit risk between counterparties related to forward foreign currency exchange contracts and/or over-the-counter swap agreements. A master netting arrangement provides for the net settlement of multiple contracts with a single counterparty through a single payment in the event of default or termination of any one contract. To mitigate counterparty risk, the fund may receive assets or be required to pledge assets at the custodian bank or with a broker as designated under prescribed collateral provisions.

The fund does not offset assets and liabilities subject to master netting arrangements on the Statement of Assets and Liabilities for financial reporting purposes. The fund’s asset derivatives and liability derivatives that are subject to legally enforceable offsetting arrangements as of period end were as follows:



Counterparty	Gross Amount on Statement of Assets and Liabilities		Amount Eligible for Offset			Collateral	Net Exposure*
Assets
Bank of America N.A.	$	28,280	$	(28,280	)	—	—
Goldman Sachs & Co.	452,790		(235,952		)	—	$	216,838
JPMorgan Chase Bank N.A.	219,321		(19,151		)	—	200,170
Morgan Stanley	138,489		(80,493		)	—	57,996
UBS AG	57,659		(57,659		)	—	—
	$	896,539	$	(421,535	)	—	$	475,004

Liabilities
Bank of America N.A.	$	51,189	$	(28,280	)	—	$	22,909
Goldman Sachs & Co.	235,952		(235,952		)	—	—
JPMorgan Chase Bank N.A.	19,151		(19,151		)	—	—
Morgan Stanley	80,493		(80,493		)	—	—
UBS AG	81,982		(57,659		)	—	24,323
	$	468,767	$	(421,535	)	—	$	47,232

* The net exposure represents the amount receivable from the counterparty or amount payable to the counterparty in the event of default or termination.

8. Risk Factors

The fund may invest in foreign securities, which are generally riskier than U.S. securities. As a result the fund may be subject to foreign risk, meaning that political events (such as civil unrest, national elections and imposition of exchange controls), social and economic events (such as labor strikes and rising inflation), and natural disasters occurring in a country where the fund invests could cause the fund’s investments in that country to experience losses. For these and other reasons, securities of foreign issuers may be less liquid and more volatile. Investing in securities of companies located in emerging market countries generally is riskier

than investing in securities of companies located in foreign developed countries.

Issuers of high-yield securities (also known as “junk bonds”) are more vulnerable to real or perceived economic changes (such as an economic downturn or a prolonged period of rising interest rates), political changes or adverse developments specific to an issuer. These factors may be more likely to cause an issuer of low quality bonds to default on its obligations.

The fund may also be subject to liquidity risk. During periods of market turbulence or unusually low trading activity, in order to meet redemptions it may be necessary for the fund to sell securities at prices that could have an adverse effect on the fund’s share price.

The fund’s investment process may result in high portfolio turnover, which could mean high transaction costs, affecting both performance and capital gains tax liabilities to investors.

9. Federal Tax Information

The tax character of distributions paid during the year ended October 31, 2018 and the period December 6, 2016 (fund inception) through October 31, 2017 were as follows:

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

As of period end, the federal tax cost of investments and the components of distributable earnings on a tax-basis were as follows:



Federal tax cost of investments	$	27,106,354
Gross tax appreciation of investments	$	16,455
Gross tax depreciation of investments	(1,402,624		)
Net tax appreciation (depreciation) of investments	(1,386,169		)
Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies	109,080
Net tax appreciation (depreciation)	$	(1,277,089	)
Undistributed ordinary income	$	1,231,294
Accumulated short-term capital losses	$	(233,796	)
Accumulated long-term capital losses	$	(130,330	)

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the realization for tax purposes of unrealized gains (losses) on certain foreign currency exchange contracts.

Accumulated capital losses represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations.

10. Recently Issued Accounting Standards

In March 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2017-08, “Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities” (ASU 2017-08). ASU 2017-08 amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management is currently evaluating the impact that adopting ASU 2017-08 will have on the financial statements.

Financial Highlights



For a Share Outstanding Throughout the Years Ended October 31 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations:			Distributions From:					Ratio to Average Net Assets of:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)⁽¹⁾	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return⁽²⁾	Operating Expenses	Operating Expenses (before expense waiver)	Net Investment Income (Loss)	Net Investment Income (Loss) (before expense waiver)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
Investor Class
2018	$10.74	0.36	(0.60)	(0.24)	(0.48)	(0.15)	(0.63)	$9.87	(2.48)%	1.16%	1.23%	3.57%	3.50%	127%		$11,892
2017⁽³⁾	$10.00	0.20	0.55	0.75	(0.01)	—	(0.01)	$10.74	7.53%	1.21%⁽⁴⁾	1.31%⁽⁴⁾	2.15%⁽⁴⁾	2.05%⁽⁴⁾	208%		$12,301
I Class
2018	$10.75	0.38	(0.61)	(0.23)	(0.49)	(0.15)	(0.64)	$9.88	(2.40)%	1.06%	1.13%	3.67%	3.60%	127%		$5
2017⁽⁵⁾	$10.45	0.13	0.17	0.30	—	—	—	$10.75	2.87%	1.11%⁽⁴⁾	1.21%⁽⁴⁾	2.21%⁽⁴⁾	2.11%⁽⁴⁾	208%⁽⁶⁾		$5
Y Class
2018	$10.75	0.39	(0.62)	(0.23)	(0.49)	(0.15)	(0.64)	$9.88	(2.33)%	0.96%	1.03%	3.77%	3.70%	127%		$5
2017⁽⁵⁾	$10.45	0.14	0.16	0.30	—	—	—	$10.75	2.87%	1.01%⁽⁴⁾	1.11%⁽⁴⁾	2.31%⁽⁴⁾	2.21%⁽⁴⁾	208%⁽⁶⁾		$5
A Class
2018	$10.72	0.34	(0.61)	(0.27)	(0.45)	(0.15)	(0.60)	$9.85	(2.74)%	1.41%	1.48%	3.32%	3.25%	127%		$6,261
2017⁽³⁾	$10.00	0.18	0.55	0.73	(0.01)	—	(0.01)	$10.72	7.31%	1.46%⁽⁴⁾	1.56%⁽⁴⁾	1.90%⁽⁴⁾	1.80%⁽⁴⁾	208%		$6,440
R Class
2018	$10.70	0.31	(0.61)	(0.30)	(0.42)	(0.15)	(0.57)	$9.83	(3.00)%	1.66%	1.73%	3.07%	3.00%	127%		$2,085
2017⁽³⁾	$10.00	0.16	0.55	0.71	(0.01)	—	(0.01)	$10.70	7.09%	1.71%⁽⁴⁾	1.81%⁽⁴⁾	1.65%⁽⁴⁾	1.55%⁽⁴⁾	208%		$2,145



For a Share Outstanding Throughout the Years Ended October 31 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations:			Distributions From:					Ratio to Average Net Assets of:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)⁽¹⁾	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return⁽²⁾	Operating Expenses	Operating Expenses (before expense waiver)	Net Investment Income (Loss)	Net Investment Income (Loss) (before expense waiver)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
R5 Class
2018	$10.76	0.39	(0.61)	(0.22)	(0.50)	(0.15)	(0.65)	$9.89	(2.37)%	0.96%	1.03%	3.77%	3.70%	127%		$4,210
2017⁽³⁾	$10.00	0.22	0.55	0.77	(0.01)	—	(0.01)	$10.76	7.75%	1.01%⁽⁴⁾	1.11%⁽⁴⁾	2.35%⁽⁴⁾	2.25%⁽⁴⁾	208%		$4,311
R6 Class
2018	$10.77	0.39	(0.61)	(0.22)	(0.51)	(0.15)	(0.66)	$9.89	(2.31)%	0.91%	0.98%	3.82%	3.75%	127%		$2,107
2017⁽³⁾	$10.00	0.23	0.55	0.78	(0.01)	—	(0.01)	$10.77	7.85%	0.96%⁽⁴⁾	1.06%⁽⁴⁾	2.40%⁽⁴⁾	2.30%⁽⁴⁾	208%		$2,156

Notes to Financial Highlights


(1)	Computed using average shares outstanding throughout the period.


(2)	Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.


(3)	December 6, 2016 (fund inception) through October 31, 2017.


(4)	Annualized.


(5)	April 10, 2017 (commencement of sale) through October 31, 2017.


(6)	Portfolio turnover is calculated at the fund level. Percentage indicated was calculated for the period December 6, 2016 (fund inception) through October 31, 2017.

See Notes to Financial Statements.

Report of Independent Registered Public Accounting Firm

To the Board of Directors of American Century Quantitative Equity Funds, Inc. and Shareholders of AC Alternatives^® Emerging Opportunities Total Return Fund:

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of AC Alternatives^® Emerging Opportunities Total Return Fund (one of the funds constituting American Century Quantitative Equity Funds, Inc., referred to hereafter as the “Fund”) as of October 31, 2018, the related statement of operations for the year ended October 31, 2018, the statement of changes in net assets for the year ended October 31, 2018 and for the period December 6, 2016 (fund inception) through October 31, 2017, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of October 31, 2018, the results of its operations for the year ended October 31, 2018, the changes in its net assets for the year ended October 31, 2018 and for the period December 6, 2016 (fund inception) through October 31, 2017 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2018 by correspondence with the custodian and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Kansas City, Missouri

December 18, 2018

We have served as the auditor of one or more investment companies in American Century Investments since 1997.

Management

The Board of Directors

The individuals listed below serve as directors of the funds. Each director will continue to serve in this capacity until death, retirement, resignation or removal from office. The board has adopted a mandatory retirement age for directors who are not “interested persons,” as that term is defined in the Investment Company Act (independent directors). Independent directors shall retire by December 31 of the year in which they reach their 75^th birthday; provided, however, that on or after January 1, 2022, independent trustees shall retire on December 31 of the year in which they reach their 76^th birthday.

Mr. Thomas is an “interested person” because he currently serves as President and Chief Executive Officer of American Century Companies, Inc. (ACC), the parent company of American Century Investment Management, Inc. (ACIM or the advisor). The other directors (more than three-fourths of the total number) are independent. They are not employees, directors or officers of, and have no financial interest in, ACC or any of its wholly owned, direct or indirect, subsidiaries, including ACIM, American Century Investment Services, Inc. (ACIS) and American Century Services, LLC (ACS), and they do not have any other affiliations, positions or relationships that would cause them to be considered “interested persons” under the Investment Company Act. The directors serve in this capacity for eight (in the case of Jonathan S. Thomas, 16; and Ronald J. Gilson, 9) registered investment companies in the American Century Investments family of funds.

The following table presents additional information about the directors. The mailing address for each director other than Mr. Thomas is 1665 Charleston Road, Mountain View, California 94043. The mailing address for Mr. Thomas is 4500 Main Street, Kansas City, Missouri 64111.



Name (Year of Birth)	Position(s) Held with Funds	Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of American Century Portfolios Overseen by Director	Other Directorships Held During Past 5 Years
Independent Directors
Tanya S. Beder (1955)	Director	Since 2011	Chairman and CEO, SBCC Group Inc. (independent advisory services) (2006 to present)	45	CYS Investments, Inc.; Nabors Industries Ltd.
Jeremy I. Bulow (1954)	Director	Since 2011	Professor of Economics, Stanford University, Graduate School of Business (1979 to present)	45	None
Anne Casscells (1958)	Director	Since 2016	Co-Chief Executive Officer and Chief Investment Officer, Aetos Alternatives Management (investment advisory firm) (2001 to present); Lecturer in Accounting, Stanford University, Graduate School of Business (2009 to present)	45	None



Name (Year of Birth)	Position(s) Held with Funds	Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of American Century Portfolios Overseen by Director	Other Directorships Held During Past 5 Years
Independent Directors
Ronald J. Gilson (1946)	Director and Chairman of the Board	Since 1995 (Chairman since 2005)	Charles J. Meyers Professor of Law and Business, Emeritus, Stanford Law School (1979 to 2016); Marc and Eva Stern Professor of Law and Business, Columbia University School of Law (1992 to present)	50	None
Frederick L. A. Grauer (1946)	Director	Since 2008	Senior Advisor, iShares by BlackRock, Inc. (investment management firm) (2010 to 2011, 2013 to 2015); Senior Advisor, Course Hero (an educational technology company) (2015 to present)	45	None
Jonathan D. Levin (1972)	Director	Since 2016	Philip H. Knight Professor and Dean, Graduate School of Business, Stanford University (2016 to present); Professor, Stanford University, (2000 to present); Chair, Department of Economics, Stanford University (2011 to 2014)	45	None
Peter F. Pervere (1947)	Director	Since 2007	Retired	45	None
John B. Shoven (1947)	Director	Since 2002	Charles R. Schwab Professor of Economics, Stanford University (1973 to present)	45	Cadence Design Systems; E^xponent; Financial Engines
Interested Director
Jonathan S. Thomas (1963)	Director and President	Since 2007	President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Executive Vice President, ACIM; Director, ACC, ACIM and other ACC subsidiaries	117	BioMed Valley Discoveries, Inc.

The Statement of Additional Information has additional information about the fund's directors and is available without charge, upon request, by calling 1-800-345-2021.

Officers

The following table presents certain information about the executive officers of the funds. Each officer serves as an officer for each of the 16 (in the case of Robert J. Leach, 15) investment companies in the American Century family of funds, unless otherwise noted. No officer is compensated for his or her service as an officer of the funds. The listed officers are interested persons of the funds and are appointed or re-appointed on an annual basis. The mailing address for each officer listed below is 4500 Main Street, Kansas City, Missouri 64111.



Name (Year of Birth)	Offices with the Funds	Principal Occupation(s) During the Past Five Years
Jonathan S. Thomas (1963)	Director and President since 2007	President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Executive Vice President, ACIM; Director, ACC, ACIM and other ACC subsidiaries
R. Wes Campbell (1974)	Chief Financial Officer and Treasurer since 2018	Investment Operations and Investment Accounting, ACS (2000 to present)
Amy D. Shelton (1964)	Chief Compliance Officer and Vice President since 2014	Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present); Vice President, Client Interactions and Marketing, ACIS (2013 to 2014). Also serves as Vice President, ACIS
Charles A. Etherington (1957)	General Counsel since 2007 and Senior Vice President since 2006	Attorney, ACC (1994 to present); Vice President, ACC (2005 to present); General Counsel, ACC (2007 to present). Also serves as General Counsel, ACIM, ACS, ACIS and other ACC subsidiaries; and Senior Vice President, ACIM and ACS
C. Jean Wade (1964)	Vice President since 2012	Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017)
Robert J. Leach (1966)	Vice President since 2006 and Assistant Treasurer since 2012	Vice President, ACS (2000 to present)
David H. Reinmiller (1963)	Vice President since 2000	Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS
Ward D. Stauffer (1960)	Secretary since 2005	Attorney, ACC (2003 to present)

Approval of Management Agreement

At a meeting held on June 19, 2018, the Fund’s Board of Directors (the "Board") unanimously approved the renewal of the management agreement pursuant to which American Century Investment Management, Inc. (the “Advisor”) acts as the investment advisor for the Fund. Under Section 15(c) of the Investment Company Act, contracts for investment advisory services are required to be reviewed, evaluated, and approved by a majority of a fund’s directors/trustees, including a majority of the independent Directors, each year. The Board regards this annual evaluation and renewal as one of its most important responsibilities.

The independent Directors have memorialized a statement regarding the relationship between their ongoing obligations to oversee and evaluate the performance of the Advisor and their annual consideration of renewal of the management agreement. In that statement, the independent Directors noted that their assessment of the Advisor’s performance is an ongoing process that takes place over the entire year and is informed by all of the extensive information that the Board and its committees receive and consider over time. This information, together with the additional materials provided specifically in connection with the review, are central to the Board’s assessment of the Advisor’s performance and its determination whether to renew the Fund’s management agreement.

Prior to its consideration of the renewal of the management agreement, the Board requested and reviewed extensive data and analysis relating to the proposed renewal. This information and analysis was compiled by the Advisor and certain independent providers of evaluation data concerning the Fund and the services provided to the Fund by the Advisor.

In connection with its consideration of the renewal of the management agreement, the Board’s review and evaluation of the services provided by the Advisor included, but was not limited to, the following:


•	the nature, extent, and quality of investment management, shareholder services, and other services provided to the Fund;


•	the wide range of other programs and services the Advisor provides to the Fund and its shareholders on a routine and non-routine basis;


•	the investment performance of the Fund, including data comparing the Fund’s performance to appropriate benchmarks and/or a peer group of other mutual funds with similar investment objectives and strategies;


•	the cost of owning the Fund compared to the cost of owning similar funds;


•	the Advisor’s compliance policies, procedures, and regulatory experience;


•	financial data showing the cost of services provided to the Fund, the profitability of the Fund to the Advisor, and the overall profitability of the Advisor;


•	strategic plans of the Advisor;


•	any economies of scale associated with the Advisor’s management of the Fund and other accounts;


•	services provided and charges to other investment management clients of the Advisor;


•	acquired fund fees and expenses;


•	payments and practices in connection with financial intermediaries holding shares of the Fund and the services provided by intermediaries in connection therewith; and


•	any collateral benefits derived by the Advisor from the management of the Fund.

In keeping with its practice, the Board held two in-person meetings to review and discuss the information provided in response to their request and held active discussions with the Advisor regarding the renewal of the management agreement. The independent Directors had the benefit of the advice of their independent counsel throughout the process.

Factors Considered

The Directors considered all of the information provided by the Advisor, the independent data providers, and the independent Directors’ independent counsel in connection with the approval. They determined that the information was sufficient for them to evaluate the management agreement for the Fund. In connection with their review, the Directors did not identify any single factor as being all-important or controlling and each Director may have attributed different levels of importance to different factors. In deciding to renew the management agreement, the Board based its decision on a number of factors, including the following:

Nature, Extent and Quality of Services - Generally. Under the management agreement, the Advisor is responsible for providing or arranging for all services necessary for the operation of the Fund. The Board noted that the Advisor provides or arranges at its own expense a wide variety of services including:


•	constructing and designing the Fund


•	portfolio research and security selection


•	initial capitalization/funding


•	securities trading


•	Fund administration


•	custody of Fund assets


•	daily valuation of the Fund’s portfolio


•	shareholder servicing and transfer agency, including shareholder confirmations, recordkeeping, and communications


•	legal services (except the independent Directors’ counsel)


•	regulatory and portfolio compliance


•	financial reporting


•	marketing and distribution (except amounts paid by the Fund under Rule 12b-1 plans)

The Board noted that many of these services have expanded over time in terms of both quantity and complexity in response to shareholder demands, competition in the industry, changing distribution channels, and the changing regulatory environment.

Investment Management, Shareholder, and Other Services. The nature of the investment management services provided to the Fund is quite complex and allows Fund shareholders access to professional money management, instant diversification of their investments within an asset class, the opportunity to easily diversify among asset classes by investing in or exchanging among various American Century Investments funds, and liquidity. In evaluating investment performance, the Board expects the Advisor to manage the Fund in accordance with its investment objectives and approved strategies. Further, the Directors recognize that the Advisor has an obligation to seek the best execution of fund trades. In providing these services, the Advisor utilizes teams of investment professionals (portfolio managers, analysts, research assistants, and securities traders) who require extensive information technology, research, training, compliance, and other systems to conduct their business. The Board, directly and through its Portfolio Committee, regularly reviews investment performance information for the Fund, together with comparative information for appropriate benchmarks and/or peer groups of similarly-managed funds, over different time horizons. The Directors also review detailed performance information during the management agreement approval process. If performance concerns are identified, the Fund receives special reviews until performance improves, during which the Board discusses with the Advisor the reasons for such results (e.g., market conditions, security selection) and any efforts being undertaken to improve performance. The Fund’s performance was above its benchmark for the one-year period reviewed by the Board. The Board found the investment management services provided by the Advisor to the Fund to be satisfactory and consistent with the management agreement.

Under the management agreement, the Advisor provides the Fund with a comprehensive package of transfer agency, shareholder, and other services. The Board, directly and through various committees of the Board, regularly reviews reports and evaluations of such services at its regular meetings. These reports include, but are not limited to, information regarding the operational efficiency and accuracy of the shareholder and transfer agency services provided, staffing levels, shareholder satisfaction (as measured by external as well as internal sources), technology support, new products and services offered to Fund shareholders, securities trading activities, portfolio valuation services, auditing services, and legal and operational compliance activities. The Board found the services provided by the Advisor to the Fund under the management agreement to be competitive and of high quality.

Costs of Services and Profitability. The Advisor provides detailed information concerning its cost of providing various services to the Fund, its profitability in managing the Fund, its overall profitability, and its financial condition. The Directors have reviewed with the Advisor the methodology used to prepare this financial information. This information is considered in evaluating the Advisor’s financial condition, its ability to continue to provide services under the management agreement, and the reasonableness of the current management fee. The Board concluded that the Advisor’s profits were reasonable in light of the services provided to the Fund.

Economies of Scale. The Board also reviewed information provided by the Advisor regarding the possible existence of economies of scale in connection with the management of the Fund. The Board concluded that economies of scale are difficult to measure and predict with precision, especially on a fund-by-fund basis. The Board concluded that the Advisor is appropriately sharing economies of scale through its competitive fee structure, offering competitive fees from fund inception, and through reinvestment in its business to provide shareholders enhanced and expanded services.

Comparison to Other Funds’ Fees. The management agreement provides that the Fund pays the Advisor a single, all-inclusive (or unified) management fee for providing all services necessary for the management and operation of the Fund, other than brokerage expenses, expenses attributable to short sales, taxes, interest, extraordinary expenses, the fees and expenses of the Fund’s independent Directors (including their independent legal counsel), and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Rule 12b-1 under the 1940 Act. Under the unified fee structure, the Advisor is responsible for providing all investment advisory, custody, audit, administrative, compliance, recordkeeping, marketing, and shareholder services, or arranging and supervising third parties to provide such services. By contrast, most other funds are charged a variety of fees, including an investment advisory fee, a transfer agency fee, an administrative fee, distribution charges, and other expenses. Other than their investment advisory fees and any applicable Rule 12b-1 distribution fees, all other components of the total fees charged by these other funds may be increased without shareholder approval. The Board believes the unified fee structure is a benefit to Fund shareholders because it clearly discloses to shareholders the cost of owning Fund shares, and, since the unified fee cannot be increased without a vote of Fund shareholders, it shifts to the Advisor the risk of increased costs of operating the Fund and provides a direct incentive to minimize administrative inefficiencies. Part of the Board’s analysis of fee levels involves reviewing certain evaluative data compiled by an independent provider and comparing the Fund’s unified fee to the total expense ratio of peer funds. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund’s peer universe. The Board and the Advisor agreed to a permanent change to the fund's fee schedule that could have the effect of lowering the fund's annual unified management fee by approximately 0.32%. (e.g., the Investor Class unified fee will be reduced from 1.30% to 0.98%) beginning August 1, 2018. The Board concluded that the management fee paid by the Fund to the Advisor under the management agreement is reasonable in light of the services provided to the Fund.

Comparison to Fees and Services Provided to Other Clients of the Advisor. The Board also requested and received information from the Advisor concerning the nature of the services, fees, costs, and profitability of its advisory services to advisory clients other than the Fund. They

observed that these varying types of client accounts require different services and involve different regulatory and entrepreneurial risks than the management of the Fund. The Board analyzed this information and concluded that the fees charged and services provided to the Fund were reasonable by comparison.

Payments to Intermediaries. The Directors also requested and received a description of payments made to intermediaries by the Fund and the Advisor and services provided by intermediaries. These payments include various payments made by the Fund or the Advisor to different types of intermediaries and recordkeepers for distribution and service activities provided for the Fund. The Directors reviewed such information and received representations from the Advisor that all such payments by the Fund were made pursuant to the Fund’s Rule 12b-1 Plan and that all such payments by the Advisor were made from the Advisor’s resources and reasonable profits. The Board found such payments to be reasonable in scope and purpose.

Collateral or “Fall-Out” Benefits Derived by the Advisor. The Board considered the existence of collateral benefits the Advisor may receive as a result of its relationship with the Fund. The Board noted that the Advisor’s primary business is managing mutual funds and it generally does not use fund or shareholder information to generate profits in other lines of business, and therefore does not derive any significant collateral benefits from them. The Board noted that the Advisor may receive proprietary research from broker-dealers that execute fund portfolio transactions. The Board also determined that the Advisor is able to provide investment management services to certain clients other than the Fund, at least in part, due to its existing infrastructure built to serve the fund complex.

Existing Relationship. The Board also considered whether there was any reason for not continuing the existing arrangement with the Advisor. In this regard, the Board was mindful of the potential disruptions of the Fund’s operations and various risks, uncertainties, and other effects that could occur as a result of a decision not to continue such relationship. In particular, the Board recognized that most shareholders have invested in the Fund on the strength of the Advisor’s industry standing and reputation and in the expectation that the Advisor will have a continuing role in providing advisory services to the Fund.

Conclusion of the Directors. As a result of this process, the Board, including all of the independent Directors and assisted by the advice of independent legal counsel, taking into account all of the factors discussed above and the information provided by the Advisor and others in connection with its review and throughout the year, concluded that the management agreement between the Fund and the Advisor is fair and reasonable in light of the services provided and should be renewed.

Additional Information

Retirement Account Information

As required by law, distributions you receive from certain retirement accounts are subject to federal income tax withholding, unless you elect not to have withholding apply*. Tax will be withheld on the total amount withdrawn even though you may be receiving amounts that are not subject to withholding, such as nondeductible contributions. In such case, excess amounts of withholding could occur. You may adjust your withholding election so that a greater or lesser amount will be withheld.

If you don’t want us to withhold on this amount, you must notify us to not withhold the federal income tax. You may notify us in writing or in certain situations by telephone or through other electronic means. For systematic withdrawals, your withholding election will remain in effect until revoked or changed by filing a new election. You have the right to revoke your election at any time and change your withholding percentage for future distributions.

Remember, even if you elect not to have income tax withheld, you are liable for paying income tax on the taxable portion of your withdrawal. If you elect not to have income tax withheld or you don’t have enough income tax withheld, you may be responsible for payment of estimated tax. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are not sufficient. You can reduce or defer the income tax on a distribution by directly or indirectly rolling such distribution over to another IRA or eligible plan. You should consult your tax advisor for additional information.

State tax will be withheld if, at the time of your distribution, your address is within one of the mandatory withholding states and you have federal income tax withheld (or as otherwise required by state law). State taxes will be withheld from your distribution in accordance with the respective state rules.

*Some 403(b), 457 and qualified retirement plan distributions may be subject to 20% mandatory withholding, as they are subject to special tax and withholding rules. Your plan administrator or plan sponsor is required to provide you with a special tax notice explaining those rules at the time you request a distribution. If applicable, federal and/or state taxes may be withheld from your distribution amount.

Proxy Voting Policies

Descriptions of the principles and policies that the fund's investment advisor uses in exercising the voting rights associated with the securities purchased and/or held by the fund are available without charge, upon request, by calling 1-800-345-2021 or visiting the "About Us" page of American Century Investments’ website at americancentury.com. A description of the policies is also available on the Securities and Exchange Commission’s website at sec.gov. Information regarding how the investment advisor voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the "About Us" page at americancentury.com. It is also available at sec.gov.

Quarterly Portfolio Disclosure

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-Q. The fund’s Forms N-Q are available on the SEC’s website at sec.gov. The fund also makes its complete schedule of portfolio holdings for the most recent quarter of its fiscal year available on its website at americancentury.com and, upon request, by calling 1-800-345-2021.

Other Tax Information

The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund hereby designates $370,469 as qualified short-term capital gain distributions for

purposes of Internal Revenue Code Section 871 for the fiscal year ended October 31, 2018.

The fund hereby designates $2,822, or up to the maximum amount allowable, as long-term

capital gain distributions (20% rate gain distributions) for the fiscal year ended October 31, 2018.





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American Century Quantitative Equity Funds, Inc.

Investment Advisor: American Century Investment Management, Inc. Kansas City, Missouri

This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.

©2018 American Century Proprietary Holdings, Inc. All rights reserved. CL-ANN-93332 1812

ITEM 2. CODE OF ETHICS.


(a)	The registrant has adopted a Code of Ethics for Senior Financial Officers that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer, and persons performing similar functions.


(b)	No response required.


(c)	None.


(d)	None.


(e)	Not applicable.


(f)	The registrant’s Code of Ethics for Senior Financial Officers was filed as Exhibit 12 (a)(1) to American Century Asset Allocation Portfolios, Inc.’s Annual Certified Shareholder Report on Form N-CSR, File No. 811-21591, on September 29, 2005, and is incorporated herein by reference.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.


(a)(1)	The registrant's board has determined that the registrant has at least one audit committee financial expert serving on its audit committee.


(a)(2)	Tanya S. Beder, Anne Casscells, Peter F. Pervere and Ronald J. Gilson are the registrant's designated audit committee financial experts. They are "independent" as defined in Item 3 of Form N-CSR.


(a)(3)	Not applicable.


(b)	No response required.


(c)	No response required.


(d)	No response required.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.


(a)	Audit Fees.

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were as follows:

FY 2017: $32,894

FY 2018: $33,474


(b)	Audit-Related Fees.

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were as follows:

For services rendered to the registrant:

FY 2017:$0

FY 2018:$0

Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (relating to certain engagements for non-audit services with the registrant’s investment adviser and its affiliates):

FY 2017:$0

FY 2018:$0


(c)	Tax Fees.

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were as follows:

For services rendered to the registrant:

FY 2017: $0

FY 2018: $0

FY 2017: $0

FY 2018: $0


(d)	All Other Fees.

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were as follows:

For services rendered to the registrant:

FY 2017:$0

FY 2018:$0

FY 2017:$0

FY 2018:$0

(e)(1)

In accordance with paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X, before the accountant is engaged by the registrant to render audit or non-audit services, the engagement is approved by the registrant’s audit committee. Pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, the registrant’s audit committee also pre-approves its accountant’s engagements for non-audit services with the registrant’s investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.


(e)(2)	All services described in each of paragraphs (b) through (d) of this Item were pre-approved before the engagement by the registrant’s audit committee pursuant to paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X. Consequently, none of such services were required to be approved by the audit committee pursuant to paragraph (c)(7)(i)(C).


(f)	The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than 50%.

(g)

The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were as follows:

FY 2017: $145,111

FY 2018: $130,738

(h)

The registrant’s investment adviser and accountant have notified the registrant’s audit committee of all non-audit services that were rendered by the registrant’s accountant to the registrant’s investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides services to the registrant, which services were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X. The notification provided to the registrant’s audit committee included sufficient details regarding such services to allow the registrant’s audit committee to consider the continuing independence of its principal accountant.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. INVESTMENTS.


(a)	The schedule of investments is included as part of the report to stockholders filed under Item 1 of this Form.


(b)	Not applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

During the reporting period, there were no material changes to the procedures by which shareholders may recommend nominees to the registrant’s board.

ITEM 11. CONTROLS AND PROCEDURES.


(a)	The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(b)	There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. EXHIBITS.


(a)(1)	Registrant’s Code of Ethics for Senior Financial Officers, which is the subject of the disclosure required by Item 2 of Form N-CSR, was filed as Exhibit 12(a)(1) to American Century Asset Allocation Portfolios, Inc.’s Certified Shareholder Report on Form N-CSR, File No. 811-21591, on September 29, 2005.


(a)(2)	Separate certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as EX-99.CERT.


(a)(3)	Not applicable.


(a)(4)	Not applicable.

(b) A certification by the registrant’s chief executive officer and chief financial officer, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is furnished and attached hereto as EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Registrant:	American Century Quantitative Equity Funds, Inc.

By:	/s/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President

Date:	December 28, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:	/s/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President
		(principal executive officer)

Date:	December 28, 2018



By:	/s/ R. Wes Campbell
	Name:	R. Wes Campbell
	Title:	Treasurer and
		Chief Financial Officer
		(principal financial officer)

Date:	December 28, 2018

Distributions Paid From

Ordinary income

Long-term capital gains