American Century Investments®
Quarterly Portfolio Holdings
Small Company Fund
September 30, 2022
Small Company - Schedule of Investments | ||
SEPTEMBER 30, 2022 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
COMMON STOCKS — 99.2% | ||||||||
Aerospace and Defense — 0.4% | ||||||||
Moog, Inc., Class A | 7,874 | 553,936 | ||||||
Auto Components — 0.4% | ||||||||
Shyft Group, Inc. | 25,763 | 526,338 | ||||||
Automobiles — 0.4% | ||||||||
Winnebago Industries, Inc. | 10,722 | 570,518 | ||||||
Banks — 7.4% | ||||||||
Ameris Bancorp | 23,616 | 1,055,871 | ||||||
Associated Banc-Corp. | 37,244 | 747,860 | ||||||
Bancorp, Inc.(1) | 26,365 | 579,503 | ||||||
Bank OZK | 22,462 | 888,597 | ||||||
Customers Bancorp, Inc.(1) | 9,774 | 288,138 | ||||||
Enterprise Financial Services Corp. | 10,608 | 467,176 | ||||||
Hancock Whitney Corp. | 7,926 | 363,090 | ||||||
Hanmi Financial Corp. | 22,750 | 538,720 | ||||||
Heartland Financial USA, Inc. | 20,449 | 886,669 | ||||||
Hilltop Holdings, Inc. | 26,445 | 657,158 | ||||||
Hope Bancorp, Inc. | 100,238 | 1,267,008 | ||||||
International Bancshares Corp. | 10,473 | 445,102 | ||||||
OFG Bancorp | 37,195 | 934,710 | ||||||
Popular, Inc. | 7,110 | 512,347 | ||||||
QCR Holdings, Inc. | 6,278 | 319,801 | ||||||
Renasant Corp. | 20,755 | 649,216 | ||||||
10,600,966 | ||||||||
Beverages — 1.6% | ||||||||
Celsius Holdings, Inc.(1) | 8,220 | 745,390 | ||||||
Coca-Cola Consolidated, Inc. | 3,755 | 1,546,046 | ||||||
2,291,436 | ||||||||
Biotechnology — 6.9% | ||||||||
Alector, Inc.(1) | 51,800 | 490,028 | ||||||
Alkermes PLC(1) | 56,785 | 1,268,009 | ||||||
Apellis Pharmaceuticals, Inc.(1) | 11,525 | 787,157 | ||||||
Arcus Biosciences, Inc.(1) | 20,744 | 542,663 | ||||||
Dynavax Technologies Corp.(1)(2) | 47,033 | 491,025 | ||||||
Exelixis, Inc.(1) | 98,807 | 1,549,294 | ||||||
Halozyme Therapeutics, Inc.(1) | 31,531 | 1,246,736 | ||||||
iTeos Therapeutics, Inc.(1) | 29,579 | 563,480 | ||||||
PTC Therapeutics, Inc.(1) | 10,476 | 525,895 | ||||||
REGENXBIO, Inc.(1) | 17,000 | 449,310 | ||||||
Sarepta Therapeutics, Inc.(1) | 10,885 | 1,203,228 | ||||||
Seagen, Inc.(1) | 1,828 | 250,125 | ||||||
Syndax Pharmaceuticals, Inc.(1) | 11,440 | 274,903 | ||||||
Vanda Pharmaceuticals, Inc.(1) | 28,944 | 285,967 | ||||||
9,927,820 | ||||||||
Building Products — 2.4% | ||||||||
American Woodmark Corp.(1) | 7,038 | 308,687 | ||||||
Apogee Enterprises, Inc. | 5,700 | 217,854 | ||||||
Builders FirstSource, Inc.(1) | 6,555 | 386,220 | ||||||
Masonite International Corp.(1) | 2,836 | 202,178 |
Quanex Building Products Corp. | 10,324 | 187,484 | ||||||
Resideo Technologies, Inc.(1) | 20,000 | 381,200 | ||||||
Simpson Manufacturing Co., Inc. | 2,225 | 174,440 | ||||||
UFP Industries, Inc. | 22,125 | 1,596,540 | ||||||
3,454,603 | ||||||||
Capital Markets — 3.1% | ||||||||
BGC Partners, Inc., Class A | 74,657 | 234,423 | ||||||
Cohen & Steers, Inc. | 4,927 | 308,578 | ||||||
Evercore, Inc., Class A | 9,181 | 755,137 | ||||||
Moelis & Co., Class A | 21,951 | 742,163 | ||||||
Piper Sandler Cos. | 9,569 | 1,002,257 | ||||||
PJT Partners, Inc., Class A | 14,009 | 936,082 | ||||||
StoneX Group, Inc.(1) | 6,384 | 529,489 | ||||||
4,508,129 | ||||||||
Chemicals — 2.2% | ||||||||
AdvanSix, Inc. | 16,251 | 521,657 | ||||||
Ingevity Corp.(1) | 21,931 | 1,329,677 | ||||||
Livent Corp.(1) | 24,749 | 758,557 | ||||||
LSB Industries, Inc.(1) | 15,366 | 218,965 | ||||||
Mativ Holdings, Inc. | 13,000 | 287,040 | ||||||
3,115,896 | ||||||||
Commercial Services and Supplies — 1.1% | ||||||||
ABM Industries, Inc. | 13,269 | 507,274 | ||||||
ACCO Brands Corp. | 71,245 | 349,101 | ||||||
Brink's Co. | 9,752 | 472,387 | ||||||
Steelcase, Inc., Class A | 34,522 | 225,083 | ||||||
1,553,845 | ||||||||
Communications Equipment — 1.9% | ||||||||
CommScope Holding Co., Inc.(1) | 34,340 | 316,271 | ||||||
Extreme Networks, Inc.(1) | 68,295 | 892,616 | ||||||
Viavi Solutions, Inc.(1) | 113,356 | 1,479,296 | ||||||
2,688,183 | ||||||||
Construction and Engineering — 1.0% | ||||||||
EMCOR Group, Inc. | 2,237 | 258,329 | ||||||
Primoris Services Corp. | 21,634 | 351,552 | ||||||
Sterling Infrastructure, Inc.(1) | 14,225 | 305,411 | ||||||
WillScot Mobile Mini Holdings Corp.(1) | 13,465 | 543,043 | ||||||
1,458,335 | ||||||||
Consumer Finance — 0.3% | ||||||||
Navient Corp. | 33,367 | 490,161 | ||||||
Diversified Consumer Services — 0.5% | ||||||||
Graham Holdings Co., Class B | 1,251 | 673,013 | ||||||
Diversified Telecommunication Services — 0.4% | ||||||||
Cogent Communications Holdings, Inc. | 9,894 | 516,071 | ||||||
Electric Utilities — 0.9% | ||||||||
Otter Tail Corp. | 15,025 | 924,338 | ||||||
Portland General Electric Co. | 7,498 | 325,863 | ||||||
1,250,201 | ||||||||
Electrical Equipment — 1.8% | ||||||||
Array Technologies, Inc.(1) | 20,467 | 339,343 | ||||||
Atkore, Inc.(1) | 13,938 | 1,084,516 | ||||||
Encore Wire Corp. | 9,676 | 1,117,965 | ||||||
2,541,824 | ||||||||
Electronic Equipment, Instruments and Components — 1.7% | ||||||||
Avnet, Inc. | 13,845 | 500,081 |
Benchmark Electronics, Inc. | 42,097 | 1,043,164 | ||||||
TD SYNNEX Corp. | 2,818 | 228,793 | ||||||
TTM Technologies, Inc.(1) | 26,825 | 353,554 | ||||||
Vishay Intertechnology, Inc. | 19,880 | 353,665 | ||||||
2,479,257 | ||||||||
Energy Equipment and Services — 1.2% | ||||||||
Archrock, Inc. | 36,362 | 233,444 | ||||||
ChampionX Corp. | 42,263 | 827,087 | ||||||
Weatherford International PLC(1) | 20,512 | 662,332 | ||||||
1,722,863 | ||||||||
Entertainment — 1.1% | ||||||||
World Wrestling Entertainment, Inc., Class A | 21,773 | 1,527,811 | ||||||
Equity Real Estate Investment Trusts (REITs) — 3.7% | ||||||||
CareTrust REIT, Inc. | 33,321 | 603,443 | ||||||
Community Healthcare Trust, Inc. | 13,501 | 442,158 | ||||||
Easterly Government Properties, Inc. | 46,471 | 732,848 | ||||||
Four Corners Property Trust, Inc. | 9,472 | 229,128 | ||||||
Office Properties Income Trust | 19,029 | 267,357 | ||||||
Paramount Group, Inc. | 107,567 | 670,142 | ||||||
PotlatchDeltic Corp. | 34,934 | 1,433,691 | ||||||
SL Green Realty Corp.(2) | 15,000 | 602,400 | ||||||
Universal Health Realty Income Trust | 7,128 | 308,001 | ||||||
5,289,168 | ||||||||
Food and Staples Retailing — 2.5% | ||||||||
Ingles Markets, Inc., Class A | 17,360 | 1,375,086 | ||||||
SpartanNash Co. | 23,433 | 680,026 | ||||||
Sprouts Farmers Market, Inc.(1) | 38,684 | 1,073,481 | ||||||
Weis Markets, Inc. | 6,406 | 456,363 | ||||||
3,584,956 | ||||||||
Food Products — 0.7% | ||||||||
Seaboard Corp. | 49 | 166,730 | ||||||
TreeHouse Foods, Inc.(1) | 18,469 | 783,455 | ||||||
950,185 | ||||||||
Gas Utilities — 0.9% | ||||||||
Brookfield Infrastructure Corp., Class A | 7,673 | 312,291 | ||||||
National Fuel Gas Co. | 11,795 | 725,982 | ||||||
UGI Corp. | 10,259 | 331,674 | ||||||
1,369,947 | ||||||||
Health Care Equipment and Supplies — 4.9% | ||||||||
Avanos Medical, Inc.(1) | 16,937 | 368,888 | ||||||
Bruker Corp. | 13,143 | 697,368 | ||||||
Enovis Corp.(1) | 8,903 | 410,161 | ||||||
Lantheus Holdings, Inc.(1) | 11,495 | 808,443 | ||||||
Merit Medical Systems, Inc.(1) | 16,864 | 952,985 | ||||||
Novocure Ltd.(1) | 10,148 | 771,045 | ||||||
Shockwave Medical, Inc.(1) | 5,561 | 1,546,347 | ||||||
STAAR Surgical Co.(1) | 10,376 | 732,027 | ||||||
Varex Imaging Corp.(1) | 38,814 | 820,528 | ||||||
7,107,792 | ||||||||
Health Care Providers and Services — 3.5% | ||||||||
Accolade, Inc.(1) | 31,817 | 363,350 | ||||||
Addus HomeCare Corp.(1) | 12,600 | 1,200,024 | ||||||
Amedisys, Inc.(1) | 2,933 | 283,885 | ||||||
AMN Healthcare Services, Inc.(1) | 20,095 | 2,129,266 |
Fulgent Genetics, Inc.(1) | 10,779 | 410,896 | ||||||
Owens & Minor, Inc. | 11,120 | 267,992 | ||||||
R1 RCM, Inc.(1) | 20,404 | 378,086 | ||||||
5,033,499 | ||||||||
Health Care Technology — 0.2% | ||||||||
NextGen Healthcare, Inc.(1) | 15,445 | 273,376 | ||||||
Hotels, Restaurants and Leisure — 2.9% | ||||||||
Bloomin' Brands, Inc. | 51,575 | 945,370 | ||||||
Brinker International, Inc.(1) | 13,497 | 337,155 | ||||||
Monarch Casino & Resort, Inc.(1) | 7,607 | 427,057 | ||||||
Papa John's International, Inc. | 2,697 | 188,817 | ||||||
Red Rock Resorts, Inc., Class A | 20,101 | 688,660 | ||||||
SeaWorld Entertainment, Inc.(1) | 17,706 | 805,800 | ||||||
Texas Roadhouse, Inc. | 3,659 | 319,284 | ||||||
Wingstop, Inc. | 4,057 | 508,829 | ||||||
4,220,972 | ||||||||
Household Durables — 1.2% | ||||||||
La-Z-Boy, Inc. | 15,081 | 340,378 | ||||||
M/I Homes, Inc.(1) | 5,763 | 208,794 | ||||||
Meritage Homes Corp.(1) | 6,200 | 435,674 | ||||||
Taylor Morrison Home Corp.(1) | 21,375 | 498,465 | ||||||
Tri Pointe Homes, Inc.(1) | 20,854 | 315,104 | ||||||
1,798,415 | ||||||||
Insurance — 3.3% | ||||||||
Hanover Insurance Group, Inc. | 9,162 | 1,174,018 | ||||||
Kinsale Capital Group, Inc. | 4,240 | 1,082,981 | ||||||
Palomar Holdings, Inc.(1) | 6,894 | 577,166 | ||||||
Reinsurance Group of America, Inc. | 4,279 | 538,341 | ||||||
Stewart Information Services Corp. | 14,983 | 653,858 | ||||||
Unum Group | 18,246 | 707,945 | ||||||
4,734,309 | ||||||||
Interactive Media and Services — 0.7% | ||||||||
Yelp, Inc.(1) | 28,869 | 978,948 | ||||||
IT Services — 0.9% | ||||||||
Grid Dynamics Holdings, Inc.(1) | 18,447 | 345,512 | ||||||
MAXIMUS, Inc. | 15,813 | 915,099 | ||||||
1,260,611 | ||||||||
Leisure Products — 0.2% | ||||||||
Malibu Boats, Inc., Class A(1) | 5,713 | 274,167 | ||||||
Life Sciences Tools and Services — 0.7% | ||||||||
Medpace Holdings, Inc.(1) | 2,892 | 454,536 | ||||||
Repligen Corp.(1) | 3,349 | 626,631 | ||||||
1,081,167 | ||||||||
Machinery — 1.9% | ||||||||
Hillenbrand, Inc. | 23,736 | 871,586 | ||||||
Mueller Industries, Inc. | 31,183 | 1,853,517 | ||||||
2,725,103 | ||||||||
Marine — 0.7% | ||||||||
Eagle Bulk Shipping, Inc.(2) | 3,888 | 167,884 | ||||||
Matson, Inc. | 13,892 | 854,636 | ||||||
1,022,520 | ||||||||
Media — 0.3% | ||||||||
Scholastic Corp. | 12,000 | 369,120 | ||||||
Metals and Mining — 0.4% | ||||||||
Alpha Metallurgical Resources, Inc. | 4,521 | 618,654 | ||||||
Multiline Retail — 0.6% | ||||||||
Dillard's, Inc., Class A(2) | 3,348 | 913,200 | ||||||
Oil, Gas and Consumable Fuels — 5.5% | ||||||||
Callon Petroleum Co.(1) | 12,647 | 442,772 | ||||||
Chord Energy Corp. | 8,531 | 1,166,785 | ||||||
Magnolia Oil & Gas Corp., Class A | 34,690 | 687,209 | ||||||
Murphy Oil Corp. | 29,207 | 1,027,210 | ||||||
Ovintiv, Inc. | 19,185 | 882,510 | ||||||
PBF Energy, Inc., Class A(1) | 19,724 | 693,496 | ||||||
PDC Energy, Inc. | 17,499 | 1,011,267 | ||||||
SM Energy Co. | 33,804 | 1,271,368 | ||||||
Talos Energy, Inc.(1) | 39,355 | 655,261 | ||||||
7,837,878 | ||||||||
Paper and Forest Products — 0.6% | ||||||||
Clearwater Paper Corp.(1) | 9,511 | 357,614 | ||||||
Louisiana-Pacific Corp. | 9,581 | 490,451 | ||||||
848,065 | ||||||||
Personal Products — 0.3% | ||||||||
USANA Health Sciences, Inc.(1) | 8,918 | 499,854 | ||||||
Pharmaceuticals — 2.0% | ||||||||
Amphastar Pharmaceuticals, Inc.(1) | 27,467 | 771,823 | ||||||
Corcept Therapeutics, Inc.(1) | 49,362 | 1,265,642 | ||||||
Pacira BioSciences, Inc.(1) | 9,876 | 525,304 | ||||||
Supernus Pharmaceuticals, Inc.(1) | 9,239 | 312,740 | ||||||
2,875,509 | ||||||||
Professional Services — 4.2% | ||||||||
CACI International, Inc., Class A(1) | 1,626 | 424,484 | ||||||
CRA International, Inc. | 2,839 | 251,933 | ||||||
Franklin Covey Co.(1) | 9,837 | 446,501 | ||||||
Insperity, Inc. | 19,356 | 1,976,054 | ||||||
Kelly Services, Inc., Class A | 16,855 | 229,059 | ||||||
Kforce, Inc. | 7,819 | 458,584 | ||||||
TriNet Group, Inc.(1) | 26,681 | 1,900,221 | ||||||
TrueBlue, Inc.(1) | 16,297 | 310,947 | ||||||
5,997,783 | ||||||||
Real Estate Management and Development — 1.2% | ||||||||
Cushman & Wakefield PLC(1) | 46,534 | 532,814 | ||||||
eXp World Holdings, Inc.(2) | 40,363 | 452,469 | ||||||
Marcus & Millichap, Inc. | 23,923 | 784,196 | ||||||
1,769,479 | ||||||||
Road and Rail — 0.2% | ||||||||
ArcBest Corp. | 3,797 | 276,156 | ||||||
Semiconductors and Semiconductor Equipment — 2.2% | ||||||||
Alpha & Omega Semiconductor Ltd.(1) | 13,863 | 426,426 | ||||||
Formfactor, Inc.(1) | 15,149 | 379,483 | ||||||
MaxLinear, Inc.(1) | 29,765 | 970,934 | ||||||
Power Integrations, Inc. | 4,229 | 272,009 | ||||||
Semtech Corp.(1) | 19,666 | 578,377 | ||||||
Veeco Instruments, Inc.(1) | 27,702 | 507,501 | ||||||
3,134,730 | ||||||||
Software — 6.5% | ||||||||
Alarm.com Holdings, Inc.(1) | 14,913 | 967,257 | ||||||
Appfolio, Inc., Class A(1) | 3,861 | 404,324 | ||||||
Box, Inc., Class A(1) | 60,401 | 1,473,180 |
CommVault Systems, Inc.(1) | 19,620 | 1,040,645 | ||||||
Dropbox, Inc., Class A(1) | 50,701 | 1,050,525 | ||||||
HubSpot, Inc.(1) | 3,423 | 924,621 | ||||||
LiveRamp Holdings, Inc.(1) | 27,888 | 506,446 | ||||||
Model N, Inc.(1) | 19,386 | 663,583 | ||||||
Progress Software Corp. | 5,838 | 248,407 | ||||||
Qualys, Inc.(1) | 3,917 | 545,990 | ||||||
Rapid7, Inc.(1) | 8,962 | 384,470 | ||||||
SPS Commerce, Inc.(1) | 6,256 | 777,183 | ||||||
Tenable Holdings, Inc.(1) | 11,538 | 401,522 | ||||||
9,388,153 | ||||||||
Specialty Retail — 2.4% | ||||||||
AutoNation, Inc.(1) | 6,800 | 692,716 | ||||||
Caleres, Inc. | 8,588 | 208,001 | ||||||
Chico's FAS, Inc.(1) | 45,001 | 217,805 | ||||||
Foot Locker, Inc. | 14,356 | 446,902 | ||||||
Group 1 Automotive, Inc. | 2,517 | 359,604 | ||||||
MarineMax, Inc.(1) | 14,000 | 417,060 | ||||||
Rent-A-Center, Inc. | 10,644 | 186,376 | ||||||
Signet Jewelers Ltd. | 9,951 | 569,098 | ||||||
Sonic Automotive, Inc., Class A | 7,712 | 333,930 | ||||||
3,431,492 | ||||||||
Technology Hardware, Storage and Peripherals — 0.7% | ||||||||
Pure Storage, Inc., Class A(1) | 34,977 | 957,320 | ||||||
Textiles, Apparel and Luxury Goods — 0.9% | ||||||||
Carter's, Inc.(2) | 4,390 | 287,677 | ||||||
Crocs, Inc.(1) | 7,761 | 532,870 | ||||||
G-III Apparel Group Ltd.(1) | 17,300 | 258,635 | ||||||
Movado Group, Inc. | 7,148 | 201,431 | ||||||
1,280,613 | ||||||||
Thrifts and Mortgage Finance — 3.1% | ||||||||
Essent Group Ltd. | 23,345 | 814,040 | ||||||
Federal Agricultural Mortgage Corp., Class C | 4,945 | 490,247 | ||||||
Mr. Cooper Group, Inc.(1) | 15,586 | 631,233 | ||||||
NMI Holdings, Inc., Class A(1) | 32,896 | 670,092 | ||||||
OceanFirst Financial Corp. | 26,100 | 486,504 | ||||||
Radian Group, Inc. | 47,582 | 917,857 | ||||||
Walker & Dunlop, Inc. | 5,808 | 486,304 | ||||||
4,496,277 | ||||||||
Trading Companies and Distributors — 1.9% | ||||||||
BlueLinx Holdings, Inc.(1) | 6,918 | 429,608 | ||||||
Boise Cascade Co. | 16,856 | 1,002,258 | ||||||
Titan Machinery, Inc.(1) | 32,142 | 908,333 | ||||||
WESCO International, Inc.(1) | 3,685 | 439,915 | ||||||
2,780,114 | ||||||||
Water Utilities — 0.3% | ||||||||
California Water Service Group | 7,058 | 371,886 | ||||||
Wireless Telecommunication Services — 0.3% | ||||||||
Telephone & Data Systems, Inc. | 35,613 | 495,021 | ||||||
TOTAL COMMON STOCKS (Cost $146,883,168) | 142,497,645 | |||||||
SHORT-TERM INVESTMENTS — 2.3% | ||||||||
Money Market Funds — 1.4% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 2,523 | 2,523 |
State Street Navigator Securities Lending Government Money Market Portfolio(3) | 2,016,172 | 2,016,172 | ||||||
2,018,695 | ||||||||
Repurchase Agreements — 0.9% | ||||||||
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.625% - 4.625%, 1/15/25 - 5/15/47, valued at $215,702), in a joint trading account at 2.86%, dated 9/30/22, due 10/3/22 (Delivery value $212,086) | 212,036 | |||||||
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.25%, 6/30/29, valued at $1,076,150), at 2.95%, dated 9/30/22, due 10/3/22 (Delivery value $1,055,259) | 1,055,000 | |||||||
1,267,036 | ||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $3,285,731) | 3,285,731 | |||||||
TOTAL INVESTMENT SECURITIES — 101.5% (Cost $150,168,899) | 145,783,376 | |||||||
OTHER ASSETS AND LIABILITIES — (1.5)% | (2,189,154) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 143,594,222 |
FUTURES CONTRACTS SOLD | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
Russell 2000 E-Mini Index | 30 | December 2022 | $ | 2,504,700 | $ | 317,434 |
^Amount represents value and unrealized appreciation (depreciation).
NOTES TO SCHEDULE OF INVESTMENTS |
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $1,967,524. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $2,016,172.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Directors oversees the valuation designee and reviews its valuation policies and procedures at least annually.
Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.
Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.
The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
2. Fair Value Measurements
The fund’s investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.
•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.
•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).
The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.
The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
Level 1 ($) | Level 2 ($) | Level 3 ($) | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | 142,497,645 | — | — | ||||||||
Short-Term Investments | 2,018,695 | 1,267,036 | — | ||||||||
144,516,340 | 1,267,036 | — | |||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | 317,434 | — | — |
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.