American Century Investments®
Quarterly Portfolio Holdings
Emerging Markets Debt Fund
January 31, 2021
| | |
| Emerging Markets Debt Fund - Schedule of Investments |
| JANUARY 31, 2021 (UNAUDITED) |
| | | | | | | | |
| Shares/
Principal Amount ($) | Value ($) |
| CORPORATE BONDS — 88.1% | | |
| Argentina — 0.1% | | |
| YPF SA, 8.50%, 6/27/29 | 1,200,000 | | 745,578 | |
| Brazil — 13.5% | | |
| Azul Investments LLP, 5.875%, 10/26/24 | 3,000,000 | | 2,761,500 | |
Banco BTG Pactual SA, 4.50%, 1/10/25(1) | 3,400,000 | | 3,584,620 | |
| Banco BTG Pactual SA, 4.50%, 1/10/25 | 500,000 | | 527,150 | |
Banco BTG Pactual SA, 2.75%, 1/11/26(1) | 1,700,000 | | 1,659,200 | |
| Banco do Brasil SA, 4.75%, 3/20/24 | 1,224,000 | | 1,316,657 | |
Banco Votorantim SA, 4.375%, 7/29/25(1) | 1,000,000 | | 1,061,750 | |
Braskem Netherlands Finance BV, VRN, 8.50%, 1/23/81(1) | 3,000,000 | | 3,329,400 | |
CSN Inova Ventures, 6.75%, 1/28/28(1) | 3,000,000 | | 3,233,700 | |
Embraer Netherlands Finance BV, 6.95%, 1/17/28(1) | 6,000,000 | | 6,760,500 | |
| Embraer Overseas Ltd., 5.70%, 9/16/23 | 2,000,000 | | 2,131,790 | |
FS Luxembourg Sarl, 10.00%, 12/15/25(1) | 3,000,000 | | 3,204,030 | |
| GTL Trade Finance, Inc., 7.25%, 4/16/44 | 1,700,000 | | 2,401,250 | |
GUSAP III LP, 4.25%, 1/21/30(1) | 4,000,000 | | 4,378,000 | |
Itau Unibanco Holding SA, 3.25%, 1/24/25(1) | 4,000,000 | | 4,168,800 | |
Itau Unibanco Holding SA, VRN, 4.50%, 11/21/29(1) | 4,000,000 | | 4,123,040 | |
Itau Unibanco Holding SA, VRN, 3.875%, 4/15/31(1) | 400,000 | | 401,120 | |
JBS Investments II GmbH, 5.75%, 1/15/28(2) | 1,900,000 | | 2,017,401 | |
JSM Global Sarl, 4.75%, 10/20/30(1)(2) | 3,000,000 | | 3,166,920 | |
| Klabin Austria GmbH, 5.75%, 4/3/29 | 2,000,000 | | 2,312,000 | |
| Minerva Luxembourg SA, 6.50%, 9/20/26 | 2,400,000 | | 2,529,000 | |
| NBM US Holdings, Inc., 7.00%, 5/14/26 | 2,000,000 | | 2,149,500 | |
| NBM US Holdings, Inc., 6.625%, 8/6/29 | 2,000,000 | | 2,255,940 | |
| Petrobras Global Finance BV, 5.60%, 1/3/31 | 1,300,000 | | 1,453,075 | |
| Petrobras Global Finance BV, 6.875%, 1/20/40 | 5,600,000 | | 6,736,380 | |
| Petrobras Global Finance BV, 6.75%, 1/27/41 | 2,600,000 | | 3,098,095 | |
| Petrobras Global Finance BV, 6.90%, 3/19/49 | 2,000,000 | | 2,410,040 | |
| Rumo Luxembourg Sarl, 7.375%, 2/9/24 | 650,000 | | 675,025 | |
Rumo Luxembourg Sarl, 5.875%, 1/18/25(1)(2) | 3,500,000 | | 3,706,867 | |
Rumo Luxembourg Sarl, 5.25%, 1/10/28(1) | 800,000 | | 860,680 | |
Simpar Europe SA, 5.20%, 1/26/31(1) | 3,800,000 | | 3,824,700 | |
| Suzano Austria GmbH, 5.00%, 1/15/30 | 1,000,000 | | 1,132,010 | |
Ultrapar International SA, 5.25%, 6/6/29(1) | 2,000,000 | | 2,178,030 | |
| Usiminas International Sarl, 5.875%, 7/18/26 | 1,000,000 | | 1,076,450 | |
| | 86,624,620 | |
| Canada — 0.4% | | |
MEGlobal Canada ULC, 5.00%, 5/18/25(1) | 2,000,000 | | 2,236,650 | |
| Chile — 2.7% | | |
| Enel Chile SA, 4.875%, 6/12/28 | 1,500,000 | | 1,763,775 | |
Engie Energia Chile SA, 3.40%, 1/28/30(1) | 2,000,000 | | 2,157,500 | |
Kenbourne Invest SA, 6.875%, 11/26/24(1) | 5,750,000 | | 6,210,000 | |
Kenbourne Invest SA, 4.70%, 1/22/28(1) | 2,900,000 | | 2,936,250 | |
VTR Finance NV, 6.375%, 7/15/28(1) | 4,000,000 | | 4,344,100 | |
| | 17,411,625 | |
| China — 3.6% | | |
| Baidu, Inc., 1.72%, 4/9/26 | 500,000 | | 507,285 | |
| China Evergrande Group, 8.25%, 3/23/22 | 1,000,000 | | 954,989 | |
| | | | | | | | |
| China Evergrande Group, 8.75%, 6/28/25 | 1,000,000 | | 808,404 | |
| CITIC Ltd., MTN, 6.80%, 1/17/23 | 3,000,000 | | 3,319,005 | |
| Country Garden Holdings Co. Ltd., 4.75%, 9/28/23 | 4,000,000 | | 4,096,140 | |
| Logan Group Co. Ltd., 6.90%, 6/9/24 | 2,950,000 | | 3,141,300 | |
Meituan, 2.125%, 10/28/25(1) | 300,000 | | 306,393 | |
Meituan, 3.05%, 10/28/30(1) | 1,250,000 | | 1,303,471 | |
Tencent Holdings Ltd., 3.24%, 6/3/50(1) | 1,000,000 | | 1,002,665 | |
| Vanke Real Estate Hong Kong Co. Ltd., MTN, 5.35%, 3/11/24 | 1,000,000 | | 1,109,276 | |
| Vanke Real Estate Hong Kong Co. Ltd., MTN, 3.50%, 11/12/29 | 400,000 | | 426,350 | |
Weibo Corp., 3.375%, 7/8/30(2) | 5,000,000 | | 5,168,270 | |
| Yuzhou Group Holdings Co. Ltd., 8.50%, 2/26/24 | 700,000 | | 752,409 | |
| | 22,895,957 | |
| Colombia — 5.2% | | |
| Bancolombia SA, VRN, 4.625%, 12/18/29 | 500,000 | | 517,070 | |
| Ecopetrol SA, 6.875%, 4/29/30 | 1,700,000 | | 2,118,625 | |
| Ecopetrol SA, 5.875%, 5/28/45 | 3,150,000 | | 3,578,085 | |
Empresas Publicas de Medellin ESP, 4.25%, 7/18/29(1) | 3,000,000 | | 3,193,050 | |
| Geopark Ltd., 6.50%, 9/21/24 | 1,600,000 | | 1,658,000 | |
Geopark Ltd., 5.50%, 1/17/27(1) | 5,618,000 | | 5,688,225 | |
| Grupo de Inversiones Suramericana SA, 5.50%, 4/29/26 | 2,700,000 | | 3,062,664 | |
Millicom International Cellular SA, 5.125%, 1/15/28(1) | 850,000 | | 899,245 | |
Millicom International Cellular SA, 6.25%, 3/25/29(1) | 2,000,000 | | 2,226,130 | |
| Millicom International Cellular SA, 6.25%, 3/25/29 | 1,000,000 | | 1,113,065 | |
Millicom International Cellular SA, 4.50%, 4/27/31(1) | 1,000,000 | | 1,061,435 | |
Oleoducto Central SA, 4.00%, 7/14/27(1) | 3,800,000 | | 4,125,850 | |
Promigas SA ESP / Gases del Pacifico SAC, 3.75%, 10/16/29(1) | 2,000,000 | | 2,129,500 | |
SURA Asset Management SA, 4.375%, 4/11/27(2) | 2,000,000 | | 2,254,640 | |
| | 33,625,584 | |
| Ghana — 0.6% | | |
Kosmos Energy Ltd., 7.125%, 4/4/26(1) | 4,092,000 | | 4,091,345 | |
| Guatemala — 0.3% | | |
Central American Bottling Corp., 5.75%, 1/31/27(1) | 2,000,000 | | 2,128,620 | |
| Hong Kong — 0.2% | | |
CK Hutchison International 20 Ltd., 2.50%, 5/8/30(1) | 1,500,000 | | 1,563,992 | |
| India — 6.5% | | |
Adani Electricity Mumbai Ltd., 3.95%, 2/12/30(1) | 2,000,000 | | 2,108,267 | |
| Adani Ports & Special Economic Zone Ltd., 4.00%, 7/30/27 | 2,800,000 | | 3,027,224 | |
Adani Ports & Special Economic Zone Ltd., 4.20%, 8/4/27(1) | 3,900,000 | | 4,265,797 | |
Adani Ports & Special Economic Zone Ltd., 3.10%, 2/2/31(1)(3) | 2,000,000 | | 1,989,450 | |
Adani Transmission Ltd., 4.25%, 5/21/36(1) | 3,088,000 | | 3,310,484 | |
| Axis Bank Ltd., MTN, 3.00%, 8/8/22 | 3,325,000 | | 3,384,684 | |
Azure Power Solar Energy Pvt Ltd., 5.65%, 12/24/24(1) | 1,050,000 | | 1,121,610 | |
Delhi International Airport Ltd., 6.45%, 6/4/29(1)(2) | 3,000,000 | | 3,060,000 | |
| GMR Hyderabad International Airport Ltd., 5.375%, 4/10/24 | 2,000,000 | | 2,055,413 | |
GMR Hyderabad International Airport Ltd., 4.75%, 2/2/26(1)(3) | 1,300,000 | | 1,301,209 | |
Greenko Investment Co., 4.875%, 8/16/23(1) | 3,300,000 | | 3,377,670 | |
Greenko Solar Mauritius Ltd., 5.55%, 1/29/25(1) | 4,000,000 | | 4,132,000 | |
| ICICI Bank Ltd., MTN, 4.00%, 3/18/26 | 3,625,000 | | 3,961,581 | |
Vedanta Resources Finance II plc, 13.875%, 1/21/24(1) | 1,500,000 | | 1,617,750 | |
Vedanta Resources Ltd., 6.125%, 8/9/24(1) | 3,780,000 | | 2,863,350 | |
| | 41,576,489 | |
| Indonesia — 6.6% | | |
Bayan Resources Tbk PT, 6.125%, 1/24/23(1) | 5,880,000 | | 6,031,130 | |
| Cikarang Listrindo Tbk PT, 4.95%, 9/14/26 | 6,901,000 | | 7,159,787 | |
Indika Energy Capital IV Pte Ltd., 8.25%, 10/22/25(1) | 2,000,000 | | 2,153,500 | |
| | | | | | | | |
Indonesia Asahan Aluminium Persero PT, 5.45%, 5/15/30(1) | 5,000,000 | | 5,911,000 | |
Indonesia Asahan Aluminium Persero PT, 5.80%, 5/15/50(1) | 3,250,000 | | 3,969,063 | |
Medco Bell Pte Ltd., 6.375%, 1/30/27(1) | 2,500,000 | | 2,545,025 | |
| Medco Oak Tree Pte Ltd., 7.375%, 5/14/26 | 1,500,000 | | 1,603,125 | |
| Medco Platinum Road Pte Ltd., 6.75%, 1/30/25 | 2,700,000 | | 2,834,379 | |
| Perusahaan Gas Negara Tbk PT, 5.125%, 5/16/24 | 3,000,000 | | 3,303,940 | |
| Perusahaan Perseroan (Persero) Perusahaan Listrik Negara PT, 6.25%, 1/25/49 | 1,000,000 | | 1,320,000 | |
| Perusahaan Perseroan (Persero) Perusahaan Listrik Negara PT, 4.875%, 7/17/49 | 2,000,000 | | 2,254,140 | |
| Perusahaan Perseroan (Persero) Perusahaan Listrik Negara PT, MTN, 3.00%, 6/30/30 | 1,000,000 | | 1,029,029 | |
Star Energy Geothermal Darajat II / Star Energy Geothermal Salak, 4.85%, 10/14/38(1) | 1,440,000 | | 1,612,800 | |
| Star Energy Geothermal Wayang Windu Ltd., 6.75%, 4/24/33 | 907,000 | | 1,034,941 | |
| | 42,761,859 | |
| Israel — 2.7% | | |
Altice Financing SA, 5.00%, 1/15/28(1) | 5,500,000 | | 5,644,733 | |
Israel Electric Corp. Ltd., 5.00%, 11/12/24(1) | 800,000 | | 909,468 | |
Israel Electric Corp. Ltd., 5.00%, 11/12/24(1) | 1,000,000 | | 1,136,835 | |
Leviathan Bond Ltd., 5.75%, 6/30/23(1) | 1,500,000 | | 1,601,857 | |
Leviathan Bond Ltd., 6.125%, 6/30/25(1) | 1,000,000 | | 1,108,727 | |
| Teva Pharmaceutical Finance Netherlands III BV, 2.80%, 7/21/23 | 2,950,000 | | 2,930,058 | |
| Teva Pharmaceutical Finance Netherlands III BV, 6.00%, 4/15/24 | 2,000,000 | | 2,110,950 | |
| Teva Pharmaceutical Finance Netherlands III BV, 7.125%, 1/31/25 | 1,500,000 | | 1,654,530 | |
| | 17,097,158 | |
| Jamaica — 0.2% | | |
Digicel Holdings Bermuda Ltd. / Digicel International Finance Ltd., 8.75%, 5/25/24(1) | 1,000,000 | | 1,043,750 | |
| Kazakhstan — 0.5% | | |
| KazMunayGas National Co. JSC, 4.75%, 4/19/27 | 2,500,000 | | 2,900,836 | |
| Kuwait — 0.6% | | |
| Equate Petrochemical BV, MTN, 4.25%, 11/3/26 | 2,334,000 | | 2,584,586 | |
| Kuwait Projects Co. SPC Ltd., 5.00%, 3/15/23 | 1,350,000 | | 1,415,874 | |
| | 4,000,460 | |
| Luxembourg — 0.6% | | |
B2W Digital Lux Sarl, 4.375%, 12/20/30(1)(2) | 3,800,000 | | 3,937,750 | |
| Macau — 2.6% | | |
Melco Resorts Finance Ltd., 5.75%, 7/21/28(1) | 5,500,000 | | 5,852,412 | |
Melco Resorts Finance Ltd., 5.375%, 12/4/29(1) | 500,000 | | 527,472 | |
| Melco Resorts Finance Ltd., 5.375%, 12/4/29 | 590,000 | | 622,416 | |
| Sands China Ltd., 5.125%, 8/8/25 | 3,300,000 | | 3,693,938 | |
| Sands China Ltd., 5.40%, 8/8/28 | 2,000,000 | | 2,307,000 | |
Studio City Finance Ltd., 5.00%, 1/15/29(1) | 2,500,000 | | 2,528,125 | |
Wynn Macau Ltd., 5.50%, 1/15/26(1) | 500,000 | | 516,725 | |
Wynn Macau Ltd., 5.625%, 8/26/28(1) | 700,000 | | 721,228 | |
| | 16,769,316 | |
| Mexico — 10.5% | | |
Axtel SAB de CV, 6.375%, 11/14/24(1) | 5,500,000 | | 5,761,250 | |
BBVA Bancomer SA, 6.75%, 9/30/22(2) | 1,000,000 | | 1,082,500 | |
BBVA Bancomer SA, 1.875%, 9/18/25(1) | 500,000 | | 503,775 | |
BBVA Bancomer SA, VRN, 5.125%, 1/18/33(1) | 7,000,000 | | 7,418,600 | |
BBVA Bancomer SA, VRN, 5.875%, 9/13/34(1) | 2,700,000 | | 3,032,437 | |
Cemex SAB de CV, 7.375%, 6/5/27(1) | 1,000,000 | | 1,130,000 | |
| Cemex SAB de CV, 5.45%, 11/19/29 | 2,000,000 | | 2,190,100 | |
Cemex SAB de CV, 5.20%, 9/17/30(1) | 1,650,000 | | 1,796,438 | |
Cemex SAB de CV, 3.875%, 7/11/31(1) | 5,000,000 | | 5,012,500 | |
Cometa Energia SA de CV, 6.375%, 4/24/35(1) | 2,108,250 | | 2,476,298 | |
Credito Real SAB de CV SOFOM ER, 8.00%, 1/21/28(1) | 3,575,000 | | 3,694,984 | |
| | | | | | | | |
FEL Energy VI Sarl, 5.75%, 12/1/40(1) | 7,560,000 | | 7,887,915 | |
Fresnillo plc, 4.25%, 10/2/50(1) | 800,000 | | 853,100 | |
| Grupo Televisa SAB, 5.25%, 5/24/49 | 750,000 | | 924,900 | |
Industrias Penoles SAB de CV, 4.75%, 8/6/50(1) | 1,750,000 | | 1,976,625 | |
Infraestructura Energetica Nova SAB de CV, 4.75%, 1/15/51(1) | 3,300,000 | | 3,528,294 | |
Minera Mexico SA de CV, 4.50%, 1/26/50(1) | 2,650,000 | | 3,006,080 | |
| Petroleos Mexicanos, 5.375%, 3/13/22 | 2,000,000 | | 2,066,230 | |
| Petroleos Mexicanos, 4.625%, 9/21/23 | 1,400,000 | | 1,455,125 | |
Petroleos Mexicanos, 6.875%, 10/16/25(1) | 850,000 | | 927,350 | |
| Petroleos Mexicanos, 6.49%, 1/23/27 | 2,200,000 | | 2,266,000 | |
| Petroleos Mexicanos, 6.50%, 3/13/27 | 3,300,000 | | 3,421,275 | |
Sigma Finance Netherlands BV, 4.875%, 3/27/28(2) | 2,000,000 | | 2,316,020 | |
Sixsigma Networks Mexico SA de CV, 7.50%, 5/2/25(1) | 2,825,000 | | 2,536,342 | |
| | 67,264,138 | |
| Morocco — 1.1% | | |
| OCP SA, 4.50%, 10/22/25 | 300,000 | | 325,773 | |
| OCP SA, 6.875%, 4/25/44 | 4,900,000 | | 6,399,689 | |
| | 6,725,462 | |
| Nigeria — 1.5% | | |
| IHS Netherlands Holdco BV, 7.125%, 3/18/25 | 2,900,000 | | 3,049,413 | |
IHS Netherlands Holdco BV, 8.00%, 9/18/27(1) | 6,000,000 | | 6,472,500 | |
| | 9,521,913 | |
| Panama — 3.7% | | |
AES Panama Generation Holdings SRL, 4.375%, 5/31/30(1) | 2,000,000 | | 2,157,400 | |
| Banistmo SA, 3.65%, 9/19/22 | 1,000,000 | | 1,034,860 | |
Banistmo SA, 4.25%, 7/31/27(1) | 3,759,000 | | 3,991,832 | |
| C&W Senior Financing DAC, 7.50%, 10/15/26 | 1,575,000 | | 1,670,563 | |
C&W Senior Financing DAC, 6.875%, 9/15/27(1) | 8,095,000 | | 8,633,318 | |
Cable Onda SA, 4.50%, 1/30/30(1) | 5,950,000 | | 6,437,156 | |
| | 23,925,129 | |
| Paraguay — 0.5% | | |
Banco Continental SAECA, 2.75%, 12/10/25(1)(2) | 1,400,000 | | 1,374,100 | |
| Telefonica Celular Del Paraguay SA, 5.875%, 4/15/27 | 2,000,000 | | 2,115,300 | |
| | 3,489,400 | |
| Peru — 3.5% | | |
| Banco Internacional del Peru SAA Interbank, VRN, 6.625%, 3/19/29 | 200,000 | | 223,900 | |
Banco Internacional del Peru SAA Interbank, VRN, 4.00%, 7/8/30(1) | 2,000,000 | | 2,072,500 | |
| Fenix Power Peru SA, 4.32%, 9/20/27 | 1,614,706 | | 1,709,990 | |
| Inkia Energy Ltd., 5.875%, 11/9/27 | 7,500,000 | | 8,017,500 | |
Intercorp Financial Services, Inc., 4.125%, 10/19/27(1) | 4,990,000 | | 5,375,378 | |
Kallpa Generacion SA, 4.125%, 8/16/27(2) | 4,904,000 | | 5,325,866 | |
| | 22,725,134 | |
| Qatar — 0.4% | | |
Nakilat, Inc., 6.07%, 12/31/33(1) | 1,000,000 | | 1,275,000 | |
| Nakilat, Inc., 6.27%, 12/31/33 | 540,225 | | 679,441 | |
| Ooredoo International Finance Ltd., MTN, 5.00%, 10/19/25 | 300,000 | | 350,250 | |
| | 2,304,691 | |
| Russia — 2.6% | | |
| Gazprom PJSC Via Gaz Capital SA, 4.95%, 3/23/27 | 1,600,000 | | 1,807,340 | |
| Gazprom PJSC Via Gaz Capital SA, MTN, 7.29%, 8/16/37 | 1,450,000 | | 2,055,423 | |
Gazprom PJSC via Gaz Finance plc, 3.25%, 2/25/30(1) | 3,700,000 | | 3,746,401 | |
| Gazprom PJSC via Gaz Finance plc, VRN, 4.60%, 10/26/25 | 1,000,000 | | 1,031,766 | |
| Lukoil Securities BV, 3.875%, 5/6/30 | 2,000,000 | | 2,137,000 | |
Lukoil Securities BV, 3.875%, 5/6/30(1)(2) | 1,500,000 | | 1,602,750 | |
| | | | | | | | |
VEON Holdings BV, 3.375%, 11/25/27(1) | 4,000,000 | | 4,106,000 | |
| | 16,486,680 | |
| Saudi Arabia — 2.9% | | |
| Dar Al-Arkan Sukuk Co. Ltd., 6.875%, 3/21/23 | 1,900,000 | | 1,961,072 | |
SABIC Capital II BV, 4.50%, 10/10/28(1) | 4,300,000 | | 5,092,727 | |
Saudi Arabian Oil Co., 1.625%, 11/24/25(1) | 200,000 | | 203,902 | |
Saudi Arabian Oil Co., 3.50%, 4/16/29(1) | 2,700,000 | | 2,976,193 | |
| Saudi Arabian Oil Co., MTN, 4.25%, 4/16/39 | 4,200,000 | | 4,823,687 | |
| Saudi Electricity Global Sukuk Co. 4, 4.72%, 9/27/28 | 2,900,000 | | 3,468,113 | |
| | 18,525,694 | |
| Singapore — 1.3% | | |
BOC Aviation Ltd., 3.25%, 4/29/25(1) | 2,000,000 | | 2,117,640 | |
| Oversea-Chinese Banking Corp. Ltd., MTN, 4.25%, 6/19/24 | 3,700,000 | | 4,061,194 | |
| United Overseas Bank Ltd., MTN, VRN, 2.88%, 3/8/27 | 2,050,000 | | 2,087,013 | |
| | 8,265,847 | |
| South Africa — 3.2% | | |
| AngloGold Ashanti Holdings plc, 6.50%, 4/15/40 | 2,000,000 | | 2,548,182 | |
| Gold Fields Orogen Holdings BVI Ltd., 6.125%, 5/15/29 | 1,000,000 | | 1,217,500 | |
| MTN Mauritius Investments Ltd., 4.76%, 11/11/24 | 4,125,000 | | 4,404,436 | |
| Prosus NV, 4.85%, 7/6/27 | 393,000 | | 451,310 | |
Prosus NV, 3.68%, 1/21/30(1) | 5,150,000 | | 5,573,901 | |
| Sasol Financing International Ltd., 4.50%, 11/14/22 | 1,000,000 | | 1,020,760 | |
| SASOL Financing USA LLC, 5.875%, 3/27/24 | 3,000,000 | | 3,165,000 | |
| SASOL Financing USA LLC, 6.50%, 9/27/28 | 2,200,000 | | 2,414,500 | |
| | 20,795,589 | |
| South Korea — 0.7% | | |
Shinhan Financial Group Co. Ltd., VRN, 3.34%, 2/5/30(1) | 1,000,000 | | 1,061,955 | |
| Woori Bank, MTN, 4.75%, 4/30/24 | 3,350,000 | | 3,720,134 | |
| | 4,782,089 | |
| Spain — 0.6% | | |
EnfraGen Energia Sur SA / EnfraGen Spain SA / Prime Energia SpA, 5.375%, 12/30/30(1) | 4,000,000 | | 4,046,000 | |
| Tanzania, United Republic Of — 1.1% | | |
HTA Group Ltd., 7.00%, 12/18/25(1) | 6,700,000 | | 7,184,075 | |
| Thailand — 0.3% | | |
Thaioil Treasury Center Co. Ltd., 3.50%, 10/17/49(1) | 2,000,000 | | 1,905,493 | |
| Turkey — 0.5% | | |
| KOC Holding AS, 5.25%, 3/15/23 | 1,500,000 | | 1,553,243 | |
Turkiye Sise ve Cam Fabrikalari AS, 6.95%, 3/14/26(1)(2) | 1,700,000 | | 1,883,379 | |
| | 3,436,622 | |
| Ukraine — 2.2% | | |
Kernel Holding SA, 6.50%, 10/17/24(1) | 2,850,000 | | 3,039,625 | |
Kernel Holding SA, 6.75%, 10/27/27(1) | 1,250,000 | | 1,335,337 | |
Metinvest BV, 7.65%, 10/1/27(1)(2) | 2,000,000 | | 2,162,260 | |
Metinvest BV, 7.75%, 10/17/29(1) | 4,000,000 | | 4,321,040 | |
MHP SE, 7.75%, 5/10/24(1) | 1,200,000 | | 1,314,312 | |
| VF Ukraine PAT via VFU Funding plc, 6.20%, 2/11/25 | 2,000,000 | | 2,090,065 | |
| | 14,262,639 | |
| United Arab Emirates — 0.4% | | |
Abu Dhabi National Energy Co. PJSC, 4.875%, 4/23/30(1) | 2,000,000 | | 2,485,970 | |
| United Arab Emirates — 2.0% | | |
| DP World Crescent Ltd., MTN, 4.85%, 9/26/28 | 3,600,000 | | 4,185,407 | |
| DP World Crescent Ltd., MTN, 3.875%, 7/18/29 | 2,600,000 | | 2,846,947 | |
| DP World Salaam, VRN, 6.00%, 10/1/25 | 1,500,000 | | 1,648,942 | |
Galaxy Pipeline Assets Bidco Ltd., 2.625%, 3/31/36(1) | 4,000,000 | | 4,046,284 | |
| | 12,727,580 | |
| | |
| | | | | | | | |
| United Kingdom — 0.5% | | |
MARB BondCo plc, 3.95%, 1/29/31(1) | 3,400,000 | | 3,390,650 | |
| United States — 0.1% | | |
DAE Funding LLC, 3.375%, 3/20/28(1) | 860,000 | | 885,800 | |
| Zambia — 1.6% | | |
First Quantum Minerals Ltd., 7.25%, 4/1/23(1) | 1,000,000 | | 1,022,905 | |
| First Quantum Minerals Ltd., 7.25%, 4/1/23 | 1,500,000 | | 1,534,358 | |
First Quantum Minerals Ltd., 6.50%, 3/1/24(1) | 2,200,000 | | 2,250,413 | |
| First Quantum Minerals Ltd., 6.875%, 3/1/26 | 4,500,000 | | 4,694,062 | |
First Quantum Minerals Ltd., 6.875%, 10/15/27(1) | 1,000,000 | | 1,079,930 | |
| | 10,581,668 | |
TOTAL CORPORATE BONDS (Cost $537,309,638) | | 567,129,852 |
| SOVEREIGN GOVERNMENTS AND AGENCIES — 5.7% | | |
| Brazil — 0.3% | | |
| Brazilian Government International Bond, 3.875%, 6/12/30 | 2,000,000 | | 2,063,500 | |
| Colombia — 0.3% | | |
| Colombia Government International Bond, 3.125%, 4/15/31 | 500,000 | | 516,380 | |
| Colombia Government International Bond, 4.125%, 5/15/51 | 1,000,000 | | 1,044,500 | |
| | 1,560,880 | |
| Dominican Republic — 0.6% | | |
Dominican Republic International Bond, 4.50%, 1/30/30(1) | 1,000,000 | | 1,049,250 | |
| Dominican Republic International Bond, 5.95%, 1/25/27 | 2,500,000 | | 2,880,625 | |
| | 3,929,875 | |
Ecuador† | | |
| Ecuador Government International Bond, 0.50%, 7/31/40 | 500,000 | | 220,000 | |
| El Salvador — 0.2% | | |
| El Salvador Government International Bond, 6.375%, 1/18/27 | 1,100,000 | | 1,075,250 | |
| | |
| India — 0.2% | | |
| Export-Import Bank of India, 3.375%, 8/5/26 | 613,000 | | 665,890 | |
| Export-Import Bank of India, 3.875%, 2/1/28 | 400,000 | | 438,556 | |
| | 1,104,446 | |
Jordan† | | |
Jordan Government International Bond, 7.375%, 10/10/47(1) | 200,000 | | 228,453 | |
| Nigeria — 0.5% | | |
| Nigeria Government International Bond, MTN, 6.50%, 11/28/27 | 3,100,000 | | 3,353,581 | |
| Oman — 1.0% | | |
Oman Government International Bond, 7.00%, 1/25/51(1) | 1,000,000 | | 1,013,425 | |
| Oman Government International Bond, 3.625%, 6/15/21 | 4,000,000 | | 4,020,949 | |
| Oman Government International Bond, MTN, 6.00%, 8/1/29 | 1,000,000 | | 1,051,570 | |
| | 6,085,944 | |
| Saudi Arabia — 0.4% | | |
Saudi Government International Bond, 2.25%, 2/2/33(1)(3) | 2,500,000 | | 2,473,125 | |
| Turkey — 2.1% | | |
| Turkey Government International Bond, 4.875%, 10/9/26 | 3,000,000 | | 3,046,692 | |
| Turkey Government International Bond, 4.875%, 4/16/43 | 1,000,000 | | 850,036 | |
| Turkey Government International Bond, 5.125%, 2/17/28 | 2,000,000 | | 2,025,776 | |
| Turkey Government International Bond, 5.75%, 3/22/24 | 2,700,000 | | 2,849,850 | |
| Turkey Government International Bond, 6.875%, 3/17/36 | 2,000,000 | | 2,141,018 | |
| Turkey Government International Bond, 5.60%, 11/14/24 | 2,600,000 | | 2,741,050 | |
| | 13,654,422 | |
| Ukraine — 0.1% | | |
Ukraine Government International Bond, 7.25%, 3/15/33(1) | 750,000 | | 800,565 | |
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $35,390,550) | | 36,550,041 |
| | |
| | | | | | | | |
| PREFERRED STOCKS — 1.4% | | |
| Brazil — 0.3% | | |
| Banco do Brasil SA, 6.25%, 4/15/24 | 2,000,000 | | 1,992,500 | |
| Mexico — 1.1% | | |
Banco Mercantil del Norte SA, 8.375%, 10/14/30(1) | 6,100,000 | | 7,116,504 | |
TOTAL PREFERRED STOCKS (Cost $8,476,200) | | 9,109,004 |
| U.S. TREASURY SECURITIES — 0.2% | | |
| United States — 0.2% | | |
U.S. Treasury Notes, 2.875%, 8/15/28(4) (Cost $1,041,982) | 885,000 | 1,018,026 |
| EXCHANGE-TRADED FUNDS — 0.1% | | |
| United States — 0.1% | | |
Energy Select Sector SPDR Fund
(Cost $451,837) | 16,000 | 629,120 |
TEMPORARY CASH INVESTMENTS(5) — 4.8% | | |
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations,
0.125% - 2.75%, 5/31/22 - 1/31/25, valued at $11,640,547), in a joint trading account at 0.03%, dated 1/29/21, due 2/1/21 (Delivery value $11,407,816) | | 11,407,788 | |
| Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.375%, 11/15/39, valued at $19,399,431), at 0.03%, dated 1/29/21, due 2/1/21 (Delivery value $19,019,048) | | 19,019,000 | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 705,920 | | 705,920 | |
TOTAL TEMPORARY CASH INVESTMENTS (Cost $31,132,708) | | 31,132,708 |
TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(6) — 2.9% | | |
State Street Navigator Securities Lending Government Money Market Portfolio
(Cost $18,654,758) | 18,654,758 | 18,654,758 |
TOTAL INVESTMENT SECURITIES — 103.2% (Cost $632,457,673) | | 664,223,509 |
| OTHER ASSETS AND LIABILITIES — (3.2)% | | (20,535,445) |
| TOTAL NET ASSETS — 100.0% | | $ | 643,688,064 |
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS PURCHASED |
| Reference Entity | Contracts | Expiration
Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 2-Year Notes | 276 | | March 2021 | $ | 60,989,531 | | $ | 55,442 | |
| U.S. Treasury Long Bonds | 1 | | March 2021 | 168,719 | | (5,471) | |
| | | $ | 61,158,250 | | $ | 49,971 | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS SOLD |
| Reference Entity | Contracts | Expiration
Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 5-Year Notes | 51 | | March 2021 | $ | 6,419,625 | | $ | (513) | |
| U.S. Treasury 10-Year Notes | 102 | | March 2021 | 13,977,188 | | 78,661 | |
| U.S. Treasury 10-Year Ultra Notes | 111 | | March 2021 | 17,074,922 | | 306,734 | |
| U.S. Treasury Ultra Bonds | 36 | | March 2021 | 7,369,875 | | 199,138 | |
| | | $ | 44,841,610 | | $ | 584,020 | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | | | | | | | | | | | | | | | | |
CENTRALLY CLEARED CREDIT DEFAULT SWAP AGREEMENTS§ |
| Reference Entity | Type | Fixed Rate
Received
(Paid)
Quarterly | Termination
Date | Notional
Amount | Premiums
Paid
(Received) | Unrealized
Appreciation
(Depreciation) | Value^ |
| Markit CDX North America High Yield Index Series 34 | Buy | (5.00)% | 6/20/25 | $ | 4,968,000 | | $ | (187,852) | | $ | (247,189) | | $ | (435,041) | |
| | | | | | | | | | | | | | | | | | | | | | | |
CREDIT DEFAULT SWAP AGREEMENTS§ |
Counterparty/ Reference Entity | Type | Fixed Rate
Received
(Paid)
Quarterly | Termination
Date | Notional
Amount | Premiums
Paid
(Received) | Unrealized Appreciation (Depreciation) | Value^ |
| Goldman Sachs & Co./ Brazilian Government International Bond | Buy | (1.00)% | 12/20/25 | $ | 29,400,000 | | $ | 1,850,973 | | $ | (885,942) | | $ | 965,031 | |
| Goldman Sachs & Co./ Mexico Government International Bond | Buy | (1.00)% | 12/20/25 | $ | 21,800,000 | | 559,044 | | (632,955) | | (73,911) | |
| Morgan Stanley/ Colombia Government International Bond | Buy | (1.00)% | 12/20/25 | $ | 11,400,000 | | 271,460 | | (214,574) | | 56,886 | |
| Morgan Stanley/ Brazilian Government International Bond | Buy | (1.00)% | 12/20/25 | $ | 28,400,000 | | 1,040,485 | | (108,278) | | 932,207 | |
| | | | | $ | 3,721,962 | | $ | (1,841,749) | | $ | 1,880,213 | |
§Credit default swap agreements enable the fund to buy/sell protection against a credit event of a specific issuer or index. As a seller of credit protection against a security or basket of securities, the fund receives an upfront and/or periodic payment to compensate against potential default events. The fund may attempt to enhance returns by selling protection.
^The value for credit default swap agreements serves 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.
| | | | | | | | |
| NOTES TO SCHEDULE OF INVESTMENTS |
| CDX | - | Credit Derivatives Indexes |
| MTN | - | Medium Term Note |
| VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
†Category is less than 0.05% of total net assets.
(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 $344,992,401, which represented 53.6% of total net assets.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $18,091,584. 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)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.
(4)Security, or a portion thereof, has been pledged at the custodian bank or with a broker for collateral requirements on futures contracts and/or swap agreements. At the period end, the aggregate value of securities pledged was $1,030,057.
(5)Category includes collateral received at the custodian bank for collateral requirements on swap agreements. At the period end, the aggregate value of cash deposits received was $1,970,000.
(6)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $18,654,758.
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations
The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The Board of Trustees has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. 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.
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.
Hybrid 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. Preferred stocks and convertible preferred stocks with perpetual maturities 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.
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. Swap agreements are valued at an evaluated mean as provided by independent pricing services or independent brokers.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The fund also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that the Board of Trustees, or its delegate, deems appropriate. The fund may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
2. Fair Value Measurements
The fund’s investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.
•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 | | | |
| Corporate Bonds | — | | 567,129,852 | | — | |
| Sovereign Governments and Agencies | — | | 36,550,041 | | — | |
| Preferred Stocks | — | | 9,109,004 | | — | |
| U.S. Treasury Securities | — | | 1,018,026 | | — | |
| Exchange-Traded Funds | 629,120 | | — | | — | |
| Temporary Cash Investments | 705,920 | | 30,426,788 | | — | |
| Temporary Cash Investments - Securities Lending Collateral | 18,654,758 | | — | | — | |
| 19,989,798 | | 644,233,711 | | — | |
| Other Financial Instruments | | | |
| Futures Contracts | 639,975 | | — | | — | |
| Swap Agreements | — | | 1,954,124 | | — | |
| 639,975 | | 1,954,124 | | — | |
| Liabilities | | | |
| Other Financial Instruments | | | |
| Futures Contracts | 5,984 | | — | | — | |
| Swap Agreements | — | | 508,952 | | — | |
| 5,984 | | 508,952 | | — | |
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.
