American Century Investments®
Quarterly Portfolio Holdings
Equity Growth Fund
September 30, 2024
| | |
| Equity Growth Fund - Schedule of Investments |
| SEPTEMBER 30, 2024 (UNAUDITED) |
| | | | | | | | |
| | Shares | Value ($) |
| COMMON STOCKS — 99.6% | | |
| Aerospace and Defense — 1.9% | | |
Axon Enterprise, Inc.(1) | 12,212 | | 4,879,915 | |
| General Electric Co. | 14,416 | | 2,718,569 | |
| Lockheed Martin Corp. | 25,114 | | 14,680,640 | |
| RTX Corp. | 49,531 | | 6,001,176 | |
| Textron, Inc. | 41,189 | | 3,648,522 | |
| | | 31,928,822 | |
| Air Freight and Logistics — 1.0% | | |
| Expeditors International of Washington, Inc. | 12,115 | | 1,591,911 | |
| FedEx Corp. | 35,198 | | 9,632,989 | |
| United Parcel Service, Inc., Class B | 47,842 | | 6,522,778 | |
| | | 17,747,678 | |
| Automobiles — 0.7% | | |
Tesla, Inc.(1) | 48,225 | | 12,617,107 | |
| Banks — 2.6% | | |
| Bank of America Corp. | 102,068 | | 4,050,058 | |
| JPMorgan Chase & Co. | 113,159 | | 23,860,707 | |
| U.S. Bancorp | 180,607 | | 8,259,158 | |
| Wells Fargo & Co. | 151,030 | | 8,531,685 | |
| | | 44,701,608 | |
| Beverages — 0.6% | | |
| Coca-Cola Co. | 30,744 | | 2,209,264 | |
Monster Beverage Corp.(1) | 47,586 | | 2,482,562 | |
| PepsiCo, Inc. | 30,244 | | 5,142,992 | |
| | | 9,834,818 | |
| Biotechnology — 2.1% | | |
| AbbVie, Inc. | 57,781 | | 11,410,592 | |
Alnylam Pharmaceuticals, Inc.(1) | 13,668 | | 3,759,110 | |
| Amgen, Inc. | 9,910 | | 3,193,101 | |
| Gilead Sciences, Inc. | 103,429 | | 8,671,487 | |
Halozyme Therapeutics, Inc.(1) | 17,326 | | 991,740 | |
Neurocrine Biosciences, Inc.(1) | 7,494 | | 863,459 | |
Protagonist Therapeutics, Inc.(1) | 31,188 | | 1,403,460 | |
Regeneron Pharmaceuticals, Inc.(1) | 3,251 | | 3,417,581 | |
Vertex Pharmaceuticals, Inc.(1) | 3,845 | | 1,788,233 | |
| | | 35,498,763 | |
| Broadline Retail — 3.7% | | |
Amazon.com, Inc.(1) | 317,436 | | 59,147,850 | |
Coupang, Inc.(1) | 128,337 | | 3,150,673 | |
| eBay, Inc. | 31,177 | | 2,029,935 | |
| | | 64,328,458 | |
| Building Products — 0.3% | | |
| Carlisle Cos., Inc. | 5,403 | | 2,429,999 | |
| Masco Corp. | 10,106 | | 848,298 | |
| Owens Corning | 13,674 | | 2,413,734 | |
| | | 5,692,031 | |
| Capital Markets — 0.4% | | |
| Cboe Global Markets, Inc. | 7,430 | | 1,522,184 | |
| MarketAxess Holdings, Inc. | 7,430 | | 1,903,566 | |
| MSCI, Inc. | 6,679 | | 3,893,390 | |
| | 7,319,140 | |
| | |
| | | | | | | | |
| Chemicals — 0.4% | | |
| Dow, Inc. | 28,380 | | 1,550,399 | |
| PPG Industries, Inc. | 42,399 | | 5,616,172 | |
| | 7,166,571 | |
| Commercial Services and Supplies — 0.7% | | |
Copart, Inc.(1) | 23,750 | | 1,244,500 | |
| MSA Safety, Inc. | 6,305 | | 1,118,129 | |
| Republic Services, Inc. | 21,353 | | 4,288,536 | |
| Veralto Corp. | 21,995 | | 2,460,361 | |
| Waste Management, Inc. | 17,902 | | 3,716,455 | |
| | 12,827,981 | |
| Communications Equipment — 0.8% | | |
| Cisco Systems, Inc. | 237,342 | | 12,631,341 | |
F5, Inc.(1) | 8,040 | | 1,770,408 | |
| | 14,401,749 | |
| Consumer Finance — 0.9% | | |
| American Express Co. | 44,951 | | 12,190,711 | |
| Synchrony Financial | 49,044 | | 2,446,315 | |
| | 14,637,026 | |
| Consumer Staples Distribution & Retail — 3.0% | | |
| Sysco Corp. | 154,623 | | 12,069,871 | |
| Target Corp. | 131,986 | | 20,571,338 | |
U.S. Foods Holding Corp.(1) | 55,220 | | 3,396,030 | |
| Walmart, Inc. | 191,938 | | 15,498,994 | |
| | 51,536,233 | |
| Containers and Packaging — 0.4% | | |
| Smurfit WestRock PLC | 122,215 | | 6,039,865 | |
| Distributors — 0.0% | | |
| LKQ Corp. | 21,282 | | 849,577 | |
| Diversified Telecommunication Services — 0.2% | | |
| AT&T, Inc. | 118,380 | | 2,604,360 | |
| Electric Utilities — 0.3% | | |
| American Electric Power Co., Inc. | 30,996 | | 3,180,189 | |
| NextEra Energy, Inc. | 26,960 | | 2,278,929 | |
| | 5,459,118 | |
| Electrical Equipment — 0.3% | | |
| Acuity Brands, Inc. | 6,009 | | 1,654,818 | |
GE Vernova, Inc.(1) | 3,321 | | 846,789 | |
Generac Holdings, Inc.(1) | 6,652 | | 1,056,870 | |
| nVent Electric PLC | 18,962 | | 1,332,270 | |
| | 4,890,747 | |
| Electronic Equipment, Instruments and Components — 0.1% | | |
| Corning, Inc. | 31,160 | | 1,406,874 | |
| Energy Equipment and Services — 0.5% | | |
| Baker Hughes Co. | 34,303 | | 1,240,053 | |
| Halliburton Co. | 50,943 | | 1,479,894 | |
| Schlumberger NV | 159,305 | | 6,682,845 | |
| | 9,402,792 | |
| Entertainment — 0.8% | | |
| Electronic Arts, Inc. | 32,768 | | 4,700,242 | |
Netflix, Inc.(1) | 10,197 | | 7,232,426 | |
Spotify Technology SA(1) | 3,538 | | 1,303,859 | |
| | 13,236,527 | |
| | |
| | | | | | | | |
| Financial Services — 4.7% | | |
AvidXchange Holdings, Inc.(1) | 255,446 | | 2,071,667 | |
Berkshire Hathaway, Inc., Class B(1) | 36,486 | | 16,793,047 | |
| Fidelity National Information Services, Inc. | 53,827 | | 4,508,011 | |
Fiserv, Inc.(1) | 14,999 | | 2,694,570 | |
| Global Payments, Inc. | 15,400 | | 1,577,268 | |
| Mastercard, Inc., Class A | 27,760 | | 13,707,888 | |
PayPal Holdings, Inc.(1) | 149,170 | | 11,639,735 | |
| Visa, Inc., Class A | 98,566 | | 27,100,722 | |
| | 80,092,908 | |
| Food Products — 0.8% | | |
| Conagra Brands, Inc. | 103,012 | | 3,349,950 | |
| General Mills, Inc. | 22,078 | | 1,630,460 | |
| Hershey Co. | 8,187 | | 1,570,103 | |
| Hormel Foods Corp. | 58,296 | | 1,847,983 | |
| McCormick & Co., Inc. | 32,242 | | 2,653,517 | |
| Mondelez International, Inc., Class A | 34,545 | | 2,544,930 | |
| | 13,596,943 | |
| Gas Utilities — 0.2% | | |
| Atmos Energy Corp. | 29,161 | | 4,044,922 | |
| Ground Transportation — 1.2% | | |
Uber Technologies, Inc.(1) | 272,388 | | 20,472,682 | |
| Health Care Equipment and Supplies — 1.8% | | |
Align Technology, Inc.(1) | 8,256 | | 2,099,666 | |
Dexcom, Inc.(1) | 15,563 | | 1,043,343 | |
Lantheus Holdings, Inc.(1) | 16,417 | | 1,801,766 | |
LivaNova PLC(1) | 21,914 | | 1,151,362 | |
| Medtronic PLC | 106,104 | | 9,552,543 | |
| ResMed, Inc. | 37,792 | | 9,225,783 | |
Solventum Corp.(1) | 26,794 | | 1,868,078 | |
| Stryker Corp. | 7,159 | | 2,586,260 | |
| Zimmer Biomet Holdings, Inc. | 20,180 | | 2,178,431 | |
| | 31,507,232 | |
| Health Care Providers and Services — 1.0% | | |
| Cardinal Health, Inc. | 41,888 | | 4,629,462 | |
| Cencora, Inc. | 6,224 | | 1,400,898 | |
| Cigna Group | 8,728 | | 3,023,728 | |
DaVita, Inc.(1) | 2,752 | | 451,135 | |
| HCA Healthcare, Inc. | 7,758 | | 3,153,084 | |
Henry Schein, Inc.(1) | 25,504 | | 1,859,242 | |
Hims & Hers Health, Inc.(1) | 74,603 | | 1,374,187 | |
| UnitedHealth Group, Inc. | 1,850 | | 1,081,658 | |
| | 16,973,394 | |
| Health Care Technology — 0.5% | | |
Veeva Systems, Inc., Class A(1) | 39,025 | | 8,190,177 | |
| Hotel & Resort REITs — 0.2% | | |
| Host Hotels & Resorts, Inc. | 86,558 | | 1,523,421 | |
| Sunstone Hotel Investors, Inc. | 239,597 | | 2,472,641 | |
| | 3,996,062 | |
| Hotels, Restaurants and Leisure — 2.1% | | |
| Booking Holdings, Inc. | 3,625 | | 15,268,935 | |
Expedia Group, Inc.(1) | 32,883 | | 4,867,342 | |
| McDonald's Corp. | 4,247 | | 1,293,254 | |
| Starbucks Corp. | 126,210 | | 12,304,213 | |
| Yum! Brands, Inc. | 14,561 | | 2,034,317 | |
| | 35,768,061 | |
| | |
| | | | | | | | |
| Household Durables — 0.6% | | |
| DR Horton, Inc. | 12,247 | | 2,336,360 | |
| Lennar Corp., Class A | 23,039 | | 4,319,352 | |
| PulteGroup, Inc. | 8,573 | | 1,230,482 | |
| Toll Brothers, Inc. | 12,614 | | 1,948,737 | |
| | 9,834,931 | |
| Household Products — 2.4% | | |
| Colgate-Palmolive Co. | 120,967 | | 12,557,584 | |
| Kimberly-Clark Corp. | 108,293 | | 15,407,928 | |
| Procter & Gamble Co. | 75,532 | | 13,082,143 | |
| | 41,047,655 | |
| Independent Power and Renewable Electricity Producers — 0.1% | | |
| Vistra Corp. | 12,393 | | 1,469,066 | |
| Industrial Conglomerates — 0.1% | | |
| Honeywell International, Inc. | 10,200 | | 2,108,442 | |
| Insurance — 2.6% | | |
| Aon PLC, Class A | 11,161 | | 3,861,594 | |
Arch Capital Group Ltd.(1) | 30,435 | | 3,405,068 | |
| Chubb Ltd. | 12,356 | | 3,563,347 | |
| Everest Group Ltd. | 15,093 | | 5,913,890 | |
| Hartford Financial Services Group, Inc. | 11,174 | | 1,314,174 | |
| Marsh & McLennan Cos., Inc. | 11,314 | | 2,524,040 | |
| MetLife, Inc. | 55,783 | | 4,600,982 | |
| Progressive Corp. | 13,088 | | 3,321,211 | |
| Travelers Cos., Inc. | 38,036 | | 8,904,988 | |
| W.R. Berkley Corp. | 119,287 | | 6,767,152 | |
| | 44,176,446 | |
| Interactive Media and Services — 6.8% | | |
| Alphabet, Inc., Class A | 192,257 | | 31,885,824 | |
| Alphabet, Inc., Class C | 209,959 | | 35,103,045 | |
Match Group, Inc.(1) | 87,911 | | 3,326,552 | |
| Meta Platforms, Inc., Class A | 76,601 | | 43,849,476 | |
Pinterest, Inc., Class A(1) | 112,573 | | 3,643,988 | |
| | 117,808,885 | |
| IT Services — 1.1% | | |
| Accenture PLC, Class A | 3,399 | | 1,201,478 | |
| Cognizant Technology Solutions Corp., Class A | 41,660 | | 3,215,319 | |
| International Business Machines Corp. | 66,895 | | 14,789,147 | |
| | 19,205,944 | |
| Life Sciences Tools and Services — 1.1% | | |
| Agilent Technologies, Inc. | 49,842 | | 7,400,540 | |
Illumina, Inc.(1) | 47,682 | | 6,218,210 | |
IQVIA Holdings, Inc.(1) | 8,725 | | 2,067,563 | |
Mettler-Toledo International, Inc.(1) | 1,170 | | 1,754,649 | |
| Thermo Fisher Scientific, Inc. | 2,014 | | 1,245,800 | |
| | 18,686,762 | |
| Machinery — 3.0% | | |
| Caterpillar, Inc. | 73,116 | | 28,597,130 | |
| Cummins, Inc. | 33,497 | | 10,845,994 | |
| Donaldson Co., Inc. | 20,160 | | 1,485,792 | |
| Dover Corp. | 9,143 | | 1,753,079 | |
Middleby Corp.(1) | 7,409 | | 1,030,814 | |
| Otis Worldwide Corp. | 41,687 | | 4,332,947 | |
| Parker-Hannifin Corp. | 5,599 | | 3,537,560 | |
| | 51,583,316 | |
| | |
| | | | | | | | |
| Media — 0.7% | | |
| Comcast Corp., Class A | 148,365 | | 6,197,206 | |
Trade Desk, Inc., Class A(1) | 53,440 | | 5,859,696 | |
| | 12,056,902 | |
| Metals and Mining — 0.2% | | |
Cleveland-Cliffs, Inc.(1) | 66,603 | | 850,520 | |
| Freeport-McMoRan, Inc. | 52,652 | | 2,628,388 | |
| | 3,478,908 | |
| Multi-Utilities — 0.6% | | |
| Consolidated Edison, Inc. | 43,766 | | 4,557,354 | |
| WEC Energy Group, Inc. | 64,173 | | 6,172,159 | |
| | 10,729,513 | |
| Oil, Gas and Consumable Fuels — 4.2% | | |
| Chevron Corp. | 87,263 | | 12,851,222 | |
| ConocoPhillips | 178,870 | | 18,831,433 | |
| Coterra Energy, Inc. | 89,797 | | 2,150,638 | |
| EOG Resources, Inc. | 66,428 | | 8,165,994 | |
| Exxon Mobil Corp. | 157,008 | | 18,404,478 | |
| Marathon Oil Corp. | 53,714 | | 1,430,404 | |
| Marathon Petroleum Corp. | 15,378 | | 2,505,230 | |
| Occidental Petroleum Corp. | 118,785 | | 6,122,179 | |
| Valero Energy Corp. | 12,366 | | 1,669,781 | |
| | 72,131,359 | |
| Personal Care Products — 0.2% | | |
| Kenvue, Inc. | 171,066 | | 3,956,757 | |
| Pharmaceuticals — 5.0% | | |
| Bristol-Myers Squibb Co. | 255,248 | | 13,206,532 | |
| Eli Lilly & Co. | 24,810 | | 21,980,171 | |
| Johnson & Johnson | 131,105 | | 21,246,876 | |
| Merck & Co., Inc. | 230,980 | | 26,230,089 | |
| Pfizer, Inc. | 88,714 | | 2,567,383 | |
| | 85,231,051 | |
| Professional Services — 0.5% | | |
Amentum Holdings, Inc.(1) | 16,625 | | 536,156 | |
| Automatic Data Processing, Inc. | 4,609 | | 1,275,448 | |
| Jacobs Solutions, Inc. | 21,914 | | 2,868,543 | |
| Leidos Holdings, Inc. | 27,293 | | 4,448,759 | |
| | 9,128,906 | |
| Real Estate Management and Development — 0.1% | | |
CBRE Group, Inc., Class A(1) | 10,874 | | 1,353,596 | |
| Residential REITs — 0.1% | | |
| Invitation Homes, Inc. | 33,650 | | 1,186,499 | |
| Retail REITs — 0.5% | | |
| Simon Property Group, Inc. | 52,986 | | 8,955,694 | |
| Semiconductors and Semiconductor Equipment — 10.9% | | |
Advanced Micro Devices, Inc.(1) | 8,997 | | 1,476,228 | |
| Applied Materials, Inc. | 73,096 | | 14,769,047 | |
| Broadcom, Inc. | 64,742 | | 11,167,995 | |
| Entegris, Inc. | 11,488 | | 1,292,744 | |
First Solar, Inc.(1) | 5,712 | | 1,424,801 | |
| KLA Corp. | 4,663 | | 3,611,074 | |
| Microchip Technology, Inc. | 17,403 | | 1,397,287 | |
| NVIDIA Corp. | 981,904 | | 119,242,422 | |
| NXP Semiconductors NV | 52,246 | | 12,539,562 | |
| QUALCOMM, Inc. | 120,475 | | 20,486,774 | |
| | 187,407,934 | |
| | |
| | | | | | | | |
| Software — 12.3% | | |
Adobe, Inc.(1) | 26,327 | | 13,631,594 | |
Agilysys, Inc.(1) | 10,929 | | 1,190,933 | |
AppLovin Corp., Class A(1) | 87,476 | | 11,419,992 | |
Autodesk, Inc.(1) | 22,274 | | 6,136,041 | |
Crowdstrike Holdings, Inc., Class A(1) | 19,877 | | 5,574,902 | |
Datadog, Inc., Class A(1) | 20,604 | | 2,370,696 | |
Fortinet, Inc.(1) | 126,636 | | 9,820,622 | |
| Intuit, Inc. | 19,096 | | 11,858,616 | |
| Microsoft Corp. | 255,920 | | 110,122,376 | |
| Oracle Corp. | 15,887 | | 2,707,145 | |
| Salesforce, Inc. | 74,741 | | 20,457,359 | |
ServiceNow, Inc.(1) | 16,040 | | 14,346,016 | |
Synopsys, Inc.(1) | 4,995 | | 2,529,418 | |
| | 212,165,710 | |
| Specialized REITs — 0.5% | | |
| Public Storage | 14,762 | | 5,371,449 | |
| SBA Communications Corp. | 12,844 | | 3,091,551 | |
| | 8,463,000 | |
| Specialty Retail — 3.1% | | |
Abercrombie & Fitch Co., Class A(1) | 20,515 | | 2,870,049 | |
| American Eagle Outfitters, Inc. | 48,797 | | 1,092,565 | |
| Bath & Body Works, Inc. | 47,379 | | 1,512,338 | |
| Gap, Inc. | 120,604 | | 2,659,318 | |
| Home Depot, Inc. | 45,967 | | 18,625,828 | |
| Lowe's Cos., Inc. | 50,735 | | 13,741,575 | |
| Ross Stores, Inc. | 46,037 | | 6,929,029 | |
| TJX Cos., Inc. | 35,921 | | 4,222,154 | |
Ulta Beauty, Inc.(1) | 3,234 | | 1,258,414 | |
| | 52,911,270 | |
| Technology Hardware, Storage and Peripherals — 6.7% | | |
| Apple, Inc. | 476,980 | | 111,136,340 | |
| Hewlett Packard Enterprise Co. | 125,604 | | 2,569,858 | |
Pure Storage, Inc., Class A(1) | 31,537 | | 1,584,419 | |
| | 115,290,617 | |
| Textiles, Apparel and Luxury Goods — 0.9% | | |
Lululemon Athletica, Inc.(1) | 23,382 | | 6,344,706 | |
| NIKE, Inc., Class B | 52,140 | | 4,609,176 | |
| Ralph Lauren Corp. | 26,220 | | 5,083,271 | |
| | 16,037,153 | |
| Trading Companies and Distributors — 0.9% | | |
Core & Main, Inc., Class A(1) | 19,107 | | 848,351 | |
| Ferguson Enterprises, Inc. | 36,347 | | 7,217,424 | |
GMS, Inc.(1) | 24,180 | | 2,189,983 | |
| United Rentals, Inc. | 2,546 | | 2,061,572 | |
| WESCO International, Inc. | 20,406 | | 3,427,800 | |
| | 15,745,130 | |
| Wireless Telecommunication Services — 0.2% | | |
| T-Mobile U.S., Inc. | 15,177 | | 3,131,926 | |
TOTAL COMMON STOCKS (Cost $1,071,961,387) | | 1,714,053,598 | |
| SHORT-TERM INVESTMENTS — 0.7% | | |
| Money Market Funds — 0.0% | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 41,646 | | 41,646 | |
| | |
| | | | | | | | |
| Repurchase Agreements — 0.7% | | |
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 4.125%, 9/30/27, valued at $734,388), in a joint trading account at 4.82%, dated 9/30/24, due 10/1/24 (Delivery value $720,773) | | 720,676 | |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.00%, 1/15/27, valued at $8,781,277), at 4.84%, dated 9/30/24, due 10/1/24 (Delivery value $8,610,157) | | 8,609,000 | |
| TD Securities (USA) LLC, (collateralized by various U.S. Treasury obligations, 1.25% - 4.875%, 10/31/24 - 10/31/30, valued at $2,941,104), at 4.82%, dated 9/30/24, due 10/1/24 (Delivery value $2,883,386) | | 2,883,000 | |
| | 12,212,676 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $12,254,322) | | 12,254,322 | |
TOTAL INVESTMENT SECURITIES — 100.3% (Cost $1,084,215,709) | | 1,726,307,920 | |
| OTHER ASSETS AND LIABILITIES — (0.3)% | | (4,819,112) | |
| TOTAL NET ASSETS — 100.0% | | $ | 1,721,488,808 | |
| | | | | | | | |
| NOTES TO SCHEDULE OF INVESTMENTS |
(1)Non-income producing.
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 | $ | 1,714,053,598 | | — | | — | |
| Short-Term Investments | 41,646 | | $ | 12,212,676 | | — | |
| $ | 1,714,095,244 | | $ | 12,212,676 | | — | |
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.
