American Century Investments®
Quarterly Portfolio Holdings
International Bond Fund
January 31, 2023
| | |
| International Bond Fund - Schedule of Investments |
| JANUARY 31, 2023 (UNAUDITED) |
| | | | | | | | | | | |
| | Shares/
Principal Amount ($) | Value ($) |
| SOVEREIGN GOVERNMENTS AND AGENCIES — 56.7% | | | |
| Australia — 3.9% | | | |
| Australia Government Bond, 2.75%, 4/21/24 | AUD | 19,437,000 | | 13,648,088 | |
| Australia Government Bond, 0.50%, 9/21/26 | AUD | 4,000,000 | | 2,564,075 | |
| Australia Government Bond, 1.50%, 6/21/31 | AUD | 6,500,000 | | 3,925,054 | |
| New South Wales Treasury Corp., 3.00%, 3/20/28 | AUD | 4,748,000 | | 3,238,185 | |
| New South Wales Treasury Corp., 1.50%, 2/20/32 | AUD | 1,800,000 | | 1,010,828 | |
| New South Wales Treasury Corp., 2.00%, 3/8/33 | AUD | 1,800,000 | | 1,029,223 | |
| Treasury Corp. of Victoria, 4.25%, 12/20/32 | AUD | 1,300,000 | | 913,036 | |
| Treasury Corp. of Victoria, 2.25%, 9/15/33 | AUD | 1,900,000 | | 1,094,552 | |
| | | 27,423,041 | |
| Austria — 1.1% | | | |
Republic of Austria Government Bond, 0.75%, 10/20/26(1) | EUR | 2,352,000 | | 2,395,019 | |
Republic of Austria Government Bond, 0.90%, 2/20/32(1) | EUR | 3,000,000 | | 2,762,407 | |
Republic of Austria Government Bond, 4.15%, 3/15/37(1) | EUR | 2,220,000 | | 2,752,089 | |
| | | 7,909,515 | |
| Belgium — 0.6% | | | |
Kingdom of Belgium Government Bond, 4.25%, 3/28/41(1) | EUR | 576,000 | | 722,901 | |
Kingdom of Belgium Government Bond, 1.60%, 6/22/47(1) | EUR | 3,979,000 | | 3,212,472 | |
| | | 3,935,373 | |
| Canada — 3.8% | | | |
| Canadian Government Bond, 0.25%, 4/1/24 | CAD | 4,000,000 | | 2,870,873 | |
| Canadian Government Bond, 0.50%, 12/1/30 | CAD | 16,700,000 | | 10,463,810 | |
| Canadian Government Bond, 2.75%, 12/1/48 | CAD | 1,250,000 | | 896,273 | |
| Canadian Government Bond, 2.00%, 12/1/51 | CAD | 2,200,000 | | 1,337,345 | |
| Province of Ontario, 2.85%, 6/2/23 | CAD | 549,000 | | 410,305 | |
| Province of Quebec Canada, 5.75%, 12/1/36 | CAD | 9,494,000 | | 8,529,609 | |
| Province of Quebec Canada, 5.00%, 12/1/41 | CAD | 800,000 | | 680,208 | |
| Province of Quebec Canada, 3.50%, 12/1/48 | CAD | 1,751,000 | | 1,211,245 | |
| | | 26,399,668 | |
| Chile — 0.1% | | | |
| Chile Government International Bond, 4.00%, 1/31/52 | | 500,000 | | 407,399 | |
| China — 5.6% | | | |
| China Development Bank, 3.50%, 8/13/26 | CNY | 35,260,000 | | 5,325,863 | |
| China Development Bank, 3.50%, 8/13/26 | CNY | 23,000,000 | | 3,474,869 | |
| China Government Bond, 3.25%, 6/6/26 | CNY | 120,400,000 | | 18,231,465 | |
| China Government Bond, 3.86%, 7/22/49 | CNY | 30,900,000 | | 5,005,624 | |
| China Government Bond, 3.39%, 3/16/50 | CNY | 24,800,000 | | 3,721,321 | |
| China Government Bond, 3.81%, 9/14/50 | CNY | 20,000,000 | | 3,228,978 | |
| | | 38,988,120 | |
| Colombia — 0.2% | | | |
Colombia Government International Bond, 7.50%, 2/2/34(2) | | 429,000 | | 424,477 | |
| Colombian TES, 7.00%, 6/30/32 | COP | 8,650,000,000 | | 1,328,849 | |
| | | 1,753,326 | |
| Czech Republic — 0.2% | | | |
| Czech Republic Government Bond, 0.25%, 2/10/27 | CZK | 46,200,000 | | 1,756,003 | |
| Denmark — 0.1% | | | |
| Denmark Government Bond, 0.25%, 11/15/52 | DKK | 8,000,000 | | 657,437 | |
| Finland — 0.6% | | | |
Finland Government Bond, 0.125%, 4/15/36(1) | EUR | 2,500,000 | | 1,896,751 | |
| | | | | | | | | | | |
Finland Government Bond, 1.375%, 4/15/47(1) | EUR | 2,390,000 | | 1,995,328 | |
Finland Government Bond, 0.125%, 4/15/52(1) | EUR | 600,000 | | 324,397 | |
| | | 4,216,476 | |
| France — 4.6% | | | |
| French Republic Government Bond OAT, 1.75%, 11/25/24 | EUR | 234,680 | | 250,824 | |
| French Republic Government Bond OAT, 5.50%, 4/25/29 | EUR | 346,000 | | 438,812 | |
French Republic Government Bond OAT, 0.00%, 11/25/29(3) | EUR | 1,850,000 | | 1,688,661 | |
| French Republic Government Bond OAT, 2.50%, 5/25/30 | EUR | 3,535,000 | | 3,828,874 | |
| French Republic Government Bond OAT, 1.50%, 5/25/31 | EUR | 1,460,000 | | 1,460,792 | |
French Republic Government Bond OAT, 0.00%, 5/25/32(3) | EUR | 20,750,000 | | 17,572,662 | |
| French Republic Government Bond OAT, 5.75%, 10/25/32 | EUR | 1,060,000 | | 1,450,125 | |
| French Republic Government Bond OAT, 3.25%, 5/25/45 | EUR | 4,688,000 | | 5,281,006 | |
| French Republic Government Bond OAT, 0.75%, 5/25/52 | EUR | 750,000 | | 464,674 | |
| | | 32,436,430 | |
| Germany — 3.1% | | | |
Bundesobligation, 0.00%, 4/16/27(3) | EUR | 13,500,000 | | 13,315,621 | |
Bundesrepublik Deutschland Bundesanleihe, 0.00%, 2/15/32(3) | EUR | 4,000,000 | | 3,563,000 | |
| Bundesrepublik Deutschland Bundesanleihe, 1.70%, 8/15/32 | EUR | 1,770,000 | | 1,838,040 | |
| Bundesrepublik Deutschland Bundesanleihe, 1.00%, 5/15/38 | EUR | 750,000 | | 676,320 | |
Bundesrepublik Deutschland Bundesanleihe, 0.00%, 8/15/50(3) | EUR | 4,150,000 | | 2,505,161 | |
| | | 21,898,142 | |
| Greece — 0.1% | | | |
Hellenic Republic Government Bond, 1.50%, 6/18/30(1) | EUR | 1,000,000 | | 915,036 | |
| Indonesia — 1.8% | | | |
| Indonesia Treasury Bond, 6.375%, 4/15/32 | IDR | 80,700,000,000 | | 5,276,023 | |
| Indonesia Treasury Bond, 7.00%, 2/15/33 | IDR | 106,000,000,000 | | 7,207,045 | |
| | | 12,483,068 | |
| Ireland — 1.3% | | | |
| Ireland Government Bond, 1.10%, 5/15/29 | EUR | 4,650,000 | | 4,626,779 | |
Ireland Government Bond, 0.00%, 10/18/31(3) | EUR | 750,000 | | 645,816 | |
| Ireland Government Bond, 0.40%, 5/15/35 | EUR | 4,500,000 | | 3,645,036 | |
| Ireland Government Bond, 1.50%, 5/15/50 | EUR | 60,000 | | 47,342 | |
| | | 8,964,973 | |
| Italy — 4.9% | | | |
| Italy Buoni Poliennali Del Tesoro, 1.50%, 6/1/25 | EUR | 8,152,000 | | 8,537,886 | |
| Italy Buoni Poliennali Del Tesoro, 2.00%, 12/1/25 | EUR | 5,382,000 | | 5,651,707 | |
Italy Buoni Poliennali Del Tesoro, 0.00%, 4/1/26(3) | EUR | 5,350,000 | | 5,232,870 | |
| Italy Buoni Poliennali Del Tesoro, 0.25%, 3/15/28 | EUR | 5,400,000 | | 4,969,439 | |
| Italy Buoni Poliennali Del Tesoro, 1.35%, 4/1/30 | EUR | 1,450,000 | | 1,335,293 | |
| Italy Buoni Poliennali Del Tesoro, 2.50%, 12/1/32 | EUR | 2,500,000 | | 2,368,835 | |
Italy Buoni Poliennali Del Tesoro, 4.75%, 9/1/44(1) | EUR | 5,194,000 | | 5,970,547 | |
| | | 34,066,577 | |
| Japan — 8.0% | | | |
| Japan Government Thirty Year Bond, 2.40%, 3/20/37 | JPY | 1,377,400,000 | | 12,485,430 | |
| Japan Government Thirty Year Bond, 2.00%, 9/20/41 | JPY | 2,137,950,000 | | 18,259,978 | |
| Japan Government Thirty Year Bond, 1.40%, 12/20/45 | JPY | 96,350,000 | | 728,423 | |
| Japan Government Thirty Year Bond, 0.70%, 9/20/51 | JPY | 1,435,000,000 | | 8,863,572 | |
| Japan Government Thirty Year Bond, 0.70%, 12/20/51 | JPY | 690,000,000 | | 4,246,201 | |
| Japan Government Thirty Year Bond, 1.00%, 3/20/52 | JPY | 521,000,000 | | 3,480,319 | |
| Japan Government Thirty Year Bond, 1.30%, 6/20/52 | JPY | 120,000,000 | | 863,387 | |
| Japan Government Twenty Year Bond, 0.60%, 9/20/37 | JPY | 215,000,000 | | 1,545,974 | |
| Japan Government Twenty Year Bond, 0.30%, 12/20/39 | JPY | 427,200,000 | | 2,813,120 | |
| Japan Government Twenty Year Bond, 0.50%, 12/20/41 | JPY | 316,000,000 | | 2,093,201 | |
| Japan Government Twenty Year Bond, 1.10%, 9/20/42 | JPY | 110,000,000 | | 806,965 | |
| | | 56,186,570 | |
| | | |
| | | | | | | | | | | |
| Malaysia — 0.3% | | | |
| Malaysia Government Bond, 4.70%, 10/15/42 | MYR | 9,700,000 | | 2,428,645 | |
| Mexico — 1.6% | | | |
| Mexican Bonos, 7.75%, 5/29/31 | MXN | 206,100,000 | | 10,355,620 | |
| Mexico Government International Bond, 6.35%, 2/9/35 | | 571,000 | | 607,428 | |
| | | 10,963,048 | |
| Netherlands — 1.6% | | | |
Netherlands Government Bond, 0.50%, 7/15/26(1) | EUR | 7,639,000 | | 7,762,053 | |
Netherlands Government Bond, 0.00%, 7/15/31(1)(3) | EUR | 1,700,000 | | 1,498,682 | |
Netherlands Government Bond, 2.75%, 1/15/47(1) | EUR | 913,000 | | 1,049,106 | |
Netherlands Government Bond, 0.00%, 1/15/52(1)(3) | EUR | 1,000,000 | | 561,172 | |
| | | 10,871,013 | |
| New Zealand — 2.1% | | | |
| New Zealand Government Bond, 0.50%, 5/15/24 | NZD | 22,562,000 | | 13,810,151 | |
| New Zealand Government Bond, 1.50%, 5/15/31 | NZD | 2,180,000 | | 1,156,168 | |
| | | 14,966,319 | |
| Norway — 0.1% | | | |
Norway Government Bond, 1.75%, 9/6/29(1) | NOK | 8,270,000 | | 772,887 | |
| Peru — 0.1% | | | |
| Peru Government Bond, 6.15%, 8/12/32 | PEN | 4,500,000 | | 1,024,663 | |
| Poland — 0.5% | | | |
| Republic of Poland Government Bond, 4.00%, 10/25/23 | PLN | 12,035,000 | | 2,744,153 | |
| Republic of Poland Government Bond, 1.75%, 4/25/32 | PLN | 5,400,000 | | 882,111 | |
| | | 3,626,264 | |
| Portugal — 0.2% | | | |
Portugal Obrigacoes do Tesouro OT, 4.10%, 2/15/45(1) | EUR | 950,000 | | 1,120,087 | |
| Saudi Arabia — 0.2% | | | |
Saudi Government International Bond, 4.75%, 1/18/28(1) | | 1,338,000 | | 1,357,133 | |
| Singapore — 0.4% | | | |
| Singapore Government Bond, 2.875%, 7/1/29 | SGD | 3,760,000 | | 2,843,325 | |
| South Africa — 0.8% | | | |
| Republic of South Africa Government Bond, 8.50%, 1/31/37 | ZAR | 116,000,000 | | 5,419,378 | |
| Spain — 3.1% | | | |
Spain Government Bond, 4.40%, 10/31/23(1) | EUR | 2,275,000 | | 2,501,339 | |
Spain Government Bond, 1.60%, 4/30/25(1) | EUR | 4,823,000 | | 5,109,368 | |
Spain Government Bond, 0.00%, 1/31/28(3) | EUR | 2,000,000 | | 1,881,707 | |
Spain Government Bond, 5.15%, 10/31/28(1) | EUR | 3,933,000 | | 4,769,651 | |
Spain Government Bond, 0.10%, 4/30/31(1) | EUR | 3,750,000 | | 3,203,339 | |
Spain Government Bond, 1.85%, 7/30/35(1) | EUR | 800,000 | | 731,803 | |
Spain Government Bond, 5.15%, 10/31/44(1) | EUR | 380,000 | | 511,615 | |
Spain Government Bond, 2.70%, 10/31/48(1) | EUR | 3,210,000 | | 2,974,522 | |
| | | 21,683,344 | |
| Sweden — 0.2% | | | |
Sweden Government Bond, 3.50%, 3/30/39(1) | SEK | 9,400,000 | | 1,089,126 | |
| Switzerland — 0.7% | | | |
| Swiss Confederation Government Bond, 0.50%, 5/27/30 | CHF | 1,233,000 | | 1,285,551 | |
| Swiss Confederation Government Bond, 2.50%, 3/8/36 | CHF | 2,995,000 | | 3,734,242 | |
| | | 5,019,793 | |
| Thailand — 0.4% | | | |
| Thailand Government Bond, 1.59%, 12/17/35 | THB | 103,000,000 | | 2,731,965 | |
| United Kingdom — 4.4% | | | |
| United Kingdom Gilt, 0.125%, 1/30/26 | GBP | 5,000,000 | | 5,644,058 | |
| United Kingdom Gilt, 4.75%, 12/7/30 | GBP | 2,520,000 | | 3,424,113 | |
| United Kingdom Gilt, 0.25%, 7/31/31 | GBP | 3,900,000 | | 3,730,341 | |
| United Kingdom Gilt, 1.00%, 1/31/32 | GBP | 3,500,000 | | 3,521,364 | |
| | | | | | | | | | | |
| United Kingdom Gilt, 1.75%, 9/7/37 | GBP | 2,200,000 | | 2,129,723 | |
| United Kingdom Gilt, 4.50%, 12/7/42 | GBP | 4,128,000 | | 5,627,136 | |
| United Kingdom Gilt, 4.25%, 12/7/49 | GBP | 2,016,000 | | 2,681,873 | |
| United Kingdom Gilt, 4.25%, 12/7/55 | GBP | 2,990,000 | | 4,070,518 | |
| | | 30,829,126 | |
TOTAL SOVEREIGN GOVERNMENTS AND AGENCIES (Cost $452,205,533) | | | 397,143,270 | |
| CORPORATE BONDS — 16.5% | | | |
| Belgium — 0.1% | | | |
| Anheuser-Busch InBev SA, 1.65%, 3/28/31 | EUR | 1,000,000 | | 957,792 | |
Bermuda† | | | |
Aircastle Ltd., 5.25%, 8/11/25(1) | | $ | 163,000 | | 159,396 | |
| Canada — 0.3% | | | |
| Cenovus Energy, Inc., 2.65%, 1/15/32 | | 180,000 | | 150,006 | |
| Royal Bank of Canada, 0.625%, 9/10/25 | EUR | 1,500,000 | | 1,524,779 | |
| Toronto-Dominion Bank, 4.46%, 6/8/32 | | $ | 234,000 | | 229,784 | |
| Waste Connections, Inc., 3.20%, 6/1/32 | | 105,000 | | 94,256 | |
| | | 1,998,825 | |
| Colombia — 0.2% | | | |
| Ecopetrol SA, 8.875%, 1/13/33 | | 1,350,000 | | 1,386,673 | |
| France — 2.5% | | | |
| Arkea Home Loans SFH SA, 0.01%, 10/4/30 | EUR | 1,500,000 | | 1,293,252 | |
| Banque Federative du Credit Mutuel SA, 0.25%, 7/19/28 | EUR | 900,000 | | 804,034 | |
| BNP Paribas SA, VRN, 2.00%, 5/24/31 | GBP | 1,400,000 | | 1,513,677 | |
| BPCE SA, 1.375%, 3/23/26 | EUR | 1,500,000 | | 1,520,048 | |
| BPCE SFH SA, 0.125%, 12/3/30 | EUR | 3,000,000 | | 2,594,438 | |
| Cie de Financement Foncier SA, 1.20%, 4/29/31 | EUR | 1,500,000 | | 1,410,315 | |
| Credit Agricole Assurances SA, VRN, 2.625%, 1/29/48 | EUR | 1,000,000 | | 975,224 | |
| Credit Agricole Public Sector SCF SA, 0.125%, 12/8/32 | EUR | 4,000,000 | | 3,376,476 | |
| Credit Mutuel Arkea SA, 1.125%, 5/23/29 | EUR | 400,000 | | 370,624 | |
| La Banque Postale SA, VRN, 0.75%, 8/2/32 | EUR | 1,700,000 | | 1,522,592 | |
| Orange SA, 5.25%, 12/5/25 | GBP | 150,000 | | 190,300 | |
| Societe Generale SA, 1.25%, 12/7/27 | GBP | 1,700,000 | | 1,755,905 | |
| Societe Generale SFH SA, 0.75%, 1/29/27 | EUR | 300,000 | | 297,979 | |
| | | 17,624,864 | |
| Germany — 1.7% | | | |
| Bayer AG, VRN, 2.375%, 11/12/79 | EUR | 1,100,000 | | 1,118,074 | |
| Bayer AG, VRN, 4.50%, 3/25/82 | EUR | 400,000 | | 411,487 | |
| Commerzbank AG, 1.75%, 1/22/25 | GBP | 500,000 | | 572,495 | |
| Commerzbank AG, VRN, 4.00%, 12/5/30 | EUR | 1,100,000 | | 1,153,705 | |
| Deutsche Bank AG, 2.625%, 12/16/24 | GBP | 1,500,000 | | 1,752,765 | |
| Deutsche Bank AG, VRN, 4.30%, 5/24/28 | | $ | 512,000 | | 500,553 | |
| Deutsche Telekom AG, 1.375%, 7/5/34 | EUR | 700,000 | | 610,696 | |
| Kreditanstalt fuer Wiederaufbau, 0.01%, 5/5/27 | EUR | 5,800,000 | | 5,616,186 | |
| | | 11,735,961 | |
| Ireland — 0.4% | | | |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 1.65%, 10/29/24 | | $ | 178,000 | | 166,586 | |
| Bank of Ireland Group PLC, VRN, 2.375%, 10/14/29 | EUR | 800,000 | | 824,515 | |
| Glencore Capital Finance DAC, 1.125%, 3/10/28 | EUR | 2,000,000 | | 1,862,326 | |
| | | 2,853,427 | |
| Italy — 0.6% | | | |
| Intesa Sanpaolo SpA, 4.75%, 9/6/27 | EUR | 1,300,000 | | 1,438,165 | |
| Telecom Italia SpA, 4.00%, 4/11/24 | EUR | 1,000,000 | | 1,069,785 | |
UniCredit SpA, VRN, 5.86%, 6/19/32(1) | | $ | 1,440,000 | | 1,339,631 | |
| | | 3,847,581 | |
| | | |
| | | | | | | | | | | |
| Luxembourg — 0.8% | | | |
| European Financial Stability Facility, 0.40%, 5/31/26 | EUR | 3,370,000 | | 3,392,090 | |
| European Financial Stability Facility, 2.35%, 7/29/44 | EUR | 1,531,000 | | 1,495,036 | |
| Telecom Italia Capital SA, 6.375%, 11/15/33 | | $ | 1,155,000 | | 983,327 | |
| | | 5,870,453 | |
Mexico† | | | |
Petroleos Mexicanos, 10.00%, 2/7/33(1)(2) | | 773,000 | | 3,479 | |
| Multinational — 0.2% | | | |
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(1) | | 999,769 | | 981,233 | |
| Netherlands — 0.4% | | | |
| Deutsche Telekom International Finance BV, 1.25%, 10/6/23 | GBP | 1,150,000 | | 1,393,984 | |
| ING Groep NV, 2.125%, 1/10/26 | EUR | 1,500,000 | | 1,573,213 | |
| | | 2,967,197 | |
| Norway — 0.3% | | | |
| Equinor ASA, 0.875%, 2/17/23 | EUR | 1,950,000 | | 2,118,567 | |
| Portugal — 0.4% | | | |
| Caixa Geral de Depositos SA, VRN, 0.375%, 9/21/27 | EUR | 1,000,000 | | 935,702 | |
| EDP - Energias de Portugal SA, VRN, 1.70%, 7/20/80 | EUR | 1,500,000 | | 1,486,038 | |
| | | 2,421,740 | |
| Spain — 0.3% | | | |
| Abanca Corp. Bancaria SA, 0.75%, 5/28/29 | EUR | 300,000 | | 280,272 | |
| CaixaBank SA, VRN, 2.75%, 7/14/28 | EUR | 500,000 | | 538,478 | |
| CaixaBank SA, VRN, 2.25%, 4/17/30 | EUR | 1,400,000 | | 1,419,284 | |
| | | 2,238,034 | |
| Supranational — 1.4% | | | |
| European Financial Stability Facility, 2.75%, 12/3/29 | EUR | 2,000,000 | | 2,172,433 | |
European Union, 0.00%, 7/4/31(3) | EUR | 8,900,000 | | 7,629,771 | |
| | | 9,802,204 | |
| Sweden — 0.1% | | | |
Skandinaviska Enskilda Banken AB, 3.70%, 6/9/25(1) | | $ | 760,000 | | 740,180 | |
| Switzerland — 0.3% | | | |
| UBS Group AG, VRN, 3.125%, 6/15/30 | EUR | 1,800,000 | | 1,863,260 | |
| United Kingdom — 2.2% | | | |
| Barclays PLC, 3.25%, 2/12/27 | GBP | 400,000 | | 458,145 | |
| Barclays PLC, VRN, 2.00%, 2/7/28 | EUR | 1,000,000 | | 1,086,964 | |
| Barclays PLC, VRN, 1.125%, 3/22/31 | EUR | 1,000,000 | | 956,288 | |
| Coventry Building Society, 0.125%, 6/20/26 | EUR | 1,200,000 | | 1,173,945 | |
| HSBC Holdings PLC, VRN, 4.76%, 6/9/28 | | $ | 443,000 | | 436,495 | |
International Game Technology PLC, 5.25%, 1/15/29(1) | | 780,000 | | 749,545 | |
| Lloyds Banking Group PLC, VRN, 1.875%, 1/15/26 | GBP | 770,000 | | 889,506 | |
| Lloyds Banking Group PLC, VRN, 1.99%, 12/15/31 | GBP | 1,000,000 | | 1,074,241 | |
| Marks & Spencer PLC, 4.50%, 7/10/27 | GBP | 600,000 | | 679,811 | |
| Nationwide Building Society, VRN, 2.00%, 7/25/29 | EUR | 700,000 | | 727,762 | |
| NatWest Group PLC, VRN, 1.75%, 3/2/26 | EUR | 200,000 | | 206,944 | |
| NatWest Group PLC, VRN, 2.11%, 11/28/31 | GBP | 900,000 | | 955,619 | |
| Santander UK PLC, 1.125%, 3/12/27 | EUR | 2,000,000 | | 2,000,603 | |
| Tesco PLC, 5.00%, 3/24/23 | GBP | 1,150,000 | | 1,417,610 | |
| Vodafone Group PLC, VRN, 4.20%, 10/3/78 | EUR | 800,000 | | 808,744 | |
| Vodafone Group PLC, VRN, 2.625%, 8/27/80 | EUR | 1,000,000 | | 987,459 | |
| Wm Morrison Supermarkets Ltd., 3.50%, 7/27/26 | GBP | 700,000 | | 768,065 | |
| | | 15,377,746 | |
| United States — 4.3% | | | |
| Albemarle Corp., 4.65%, 6/1/27 | | $ | 260,000 | | 258,253 | |
Ashtead Capital, Inc., 5.50%, 8/11/32(1) | | 778,000 | | 781,261 | |
Ashtead Capital, Inc., 5.55%, 5/30/33(1) | | 200,000 | | 200,890 | |
| | | | | | | | | | | |
| AT&T, Inc., 4.50%, 5/15/35 | | 283,000 | | 269,278 | |
| AT&T, Inc., 1.80%, 9/14/39 | EUR | 700,000 | | 549,754 | |
| Bank of America Corp., 2.30%, 7/25/25 | GBP | 400,000 | | 470,128 | |
| Bristol-Myers Squibb Co., 2.55%, 11/13/50 | | $ | 390,000 | | 266,162 | |
Builders FirstSource, Inc., 5.00%, 3/1/30(1) | | 553,000 | | 516,413 | |
| Centene Corp., 4.625%, 12/15/29 | | 320,000 | | 304,413 | |
| Centene Corp., 3.375%, 2/15/30 | | 884,000 | | 778,503 | |
| CF Industries, Inc., 5.15%, 3/15/34 | | 108,000 | | 106,937 | |
Chart Industries, Inc., 7.50%, 1/1/30(1) | | 775,000 | | 793,406 | |
| Citigroup, Inc., VRN, 3.67%, 7/24/28 | | 1,045,000 | | 990,499 | |
| Comcast Corp., 3.75%, 4/1/40 | | 80,000 | | 70,765 | |
| CSX Corp., 4.25%, 3/15/29 | | 290,000 | | 287,646 | |
DAE Funding LLC, 1.55%, 8/1/24(1) | | 228,000 | | 215,379 | |
DISH DBS Corp., 5.25%, 12/1/26(1) | | 330,000 | | 285,038 | |
| Dominion Energy, Inc., 4.85%, 8/15/52 | | 300,000 | | 282,578 | |
| Duke Energy Corp., 5.00%, 8/15/52 | | 260,000 | | 248,935 | |
| Ford Motor Credit Co. LLC, 7.35%, 3/6/30 | | 445,000 | | 467,642 | |
| General Motors Financial Co., Inc., 1.55%, 7/30/27 | GBP | 1,000,000 | | 1,059,417 | |
| General Motors Financial Co., Inc., 2.40%, 10/15/28 | | $ | 225,000 | | 192,921 | |
Glencore Funding LLC, 2.625%, 9/23/31(1) | | 300,000 | | 250,678 | |
| Goldman Sachs Group, Inc., 4.25%, 1/29/26 | GBP | 900,000 | | 1,097,490 | |
Gray Escrow II, Inc., 5.375%, 11/15/31(1) | | $ | 1,147,000 | | 883,534 | |
| JPMorgan Chase & Co., VRN, 2.95%, 2/24/28 | | 32,000 | | 29,711 | |
| JPMorgan Chase & Co., VRN, 2.07%, 6/1/29 | | 85,000 | | 73,708 | |
| KB Home, 4.80%, 11/15/29 | | 867,000 | | 779,000 | |
| Kraft Heinz Foods Co., 5.00%, 6/4/42 | | 219,000 | | 211,115 | |
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 4.75%, 6/15/29(1) | | 588,000 | | 489,295 | |
Level 3 Financing, Inc., 4.625%, 9/15/27(1) | | 679,000 | | 576,395 | |
| Lowe's Cos., Inc., 3.35%, 4/1/27 | | 908,000 | | 870,014 | |
| Mondelez International, Inc., 1.375%, 3/17/41 | EUR | 1,000,000 | | 751,538 | |
| MPLX LP, 2.65%, 8/15/30 | | $ | 260,000 | | 221,940 | |
| Netflix, Inc., 5.875%, 11/15/28 | | 381,000 | | 396,213 | |
| NextEra Energy Capital Holdings, Inc., 5.00%, 7/15/32 | | 480,000 | | 488,521 | |
| Norfolk Southern Corp., 4.55%, 6/1/53 | | 280,000 | | 261,638 | |
| Oracle Corp., 3.60%, 4/1/40 | | 155,000 | | 122,978 | |
| O'Reilly Automotive, Inc., 4.70%, 6/15/32 | | 360,000 | | 359,643 | |
| Owl Rock Capital Corp., 3.40%, 7/15/26 | | 107,000 | | 96,673 | |
| Paramount Global, 4.375%, 3/15/43 | | 40,000 | | 29,569 | |
| Parker-Hannifin Corp., 4.25%, 9/15/27 | | 1,010,000 | | 999,070 | |
Penn Entertainment, Inc., 4.125%, 7/1/29(1) | | 408,000 | | 337,134 | |
| Public Service Electric & Gas Co., 3.10%, 3/15/32 | | 188,000 | | 170,369 | |
Regal Rexnord Corp., 6.40%, 4/15/33(1) | | 667,000 | | 684,576 | |
SBL Holdings, Inc., VRN, 6.50%(1)(4) | | 789,000 | | 606,583 | |
Scientific Games International, Inc., 7.25%, 11/15/29(1) | | 900,000 | | 903,510 | |
| Southern Co. Gas Capital Corp., 1.75%, 1/15/31 | | 300,000 | | 241,540 | |
| Sprint LLC, 7.625%, 2/15/25 | | 1,200,000 | | 1,247,161 | |
| Sysco Corp., 5.95%, 4/1/30 | | 384,000 | | 412,530 | |
Tempur Sealy International, Inc., 3.875%, 10/15/31(1) | | 753,000 | | 621,349 | |
| Time Warner Cable LLC, 4.50%, 9/15/42 | | 285,000 | | 227,118 | |
| T-Mobile USA, Inc., 4.75%, 2/1/28 | | 595,000 | | 590,059 | |
| T-Mobile USA, Inc., 3.375%, 4/15/29 | | 120,000 | | 109,543 | |
| T-Mobile USA, Inc., 3.50%, 4/15/31 | | 343,000 | | 307,371 | |
| Truist Financial Corp., VRN, 4.12%, 6/6/28 | | 320,000 | | 313,172 | |
| Union Electric Co., 3.90%, 4/1/52 | | 144,000 | | 124,371 | |
| United Airlines Pass Through Trust, Series 2020-1, Class B, 4.875%, 7/15/27 | | 296,635 | | 289,357 | |
| | | | | | | | | | | |
United Natural Foods, Inc., 6.75%, 10/15/28(1) | | 795,000 | | 768,209 | |
Venture Global Calcasieu Pass LLC, 3.875%, 11/1/33(1) | | 623,000 | | 530,017 | |
| Verizon Communications, Inc., 4.33%, 9/21/28 | | 220,000 | | 217,134 | |
| Viatris, Inc., 4.00%, 6/22/50 | | 167,000 | | 115,935 | |
Warnermedia Holdings, Inc., 3.79%, 3/15/25(1) | | 1,060,000 | | 1,024,439 | |
Warnermedia Holdings, Inc., 3.76%, 3/15/27(1) | | 163,000 | | 152,852 | |
| WEC Energy Group, Inc., 1.375%, 10/15/27 | | 1,000,000 | | 872,808 | |
| Wells Fargo & Co., VRN, 3.07%, 4/30/41 | | 535,000 | | 417,616 | |
| Westinghouse Air Brake Technologies Corp., 4.95%, 9/15/28 | | 580,000 | | 576,637 | |
| | | 30,246,331 | |
TOTAL CORPORATE BONDS (Cost $127,073,663) | | | 115,194,943 | |
| U.S. TREASURY SECURITIES — 6.6% | | | |
| U.S. Treasury Bonds, 3.375%, 8/15/42 | | 1,000,000 | | 945,703 | |
| U.S. Treasury Notes, 1.50%, 2/29/24 | | 2,100,000 | | 2,029,231 | |
| U.S. Treasury Notes, 3.25%, 8/31/24 | | 7,930,000 | | 7,788,282 | |
| U.S. Treasury Notes, 4.25%, 9/30/24 | | 1,455,000 | | 1,451,874 | |
| U.S. Treasury Notes, 3.125%, 8/15/25 | | 500,000 | | 489,688 | |
| U.S. Treasury Notes, 1.875%, 2/28/27 | | 600,000 | | 558,738 | |
| U.S. Treasury Notes, 1.875%, 2/28/29 | | 8,000,000 | | 7,254,688 | |
| U.S. Treasury Notes, 2.625%, 7/31/29 | | 6,860,000 | | 6,483,504 | |
| U.S. Treasury Notes, 2.75%, 8/15/32 | | 20,614,000 | | 19,398,096 | |
TOTAL U.S. TREASURY SECURITIES (Cost $47,337,674) | | | 46,399,804 | |
| PREFERRED STOCKS — 5.0% | | | |
| Bermuda — 0.1% | | | |
Aircastle Ltd., 5.25%(1) | | 1,130,000 | | 932,250 | |
| France — 2.0% | | | |
| Accor SA, 2.625% | | 1,300,000 | | 1,270,199 | |
| AXA SA, 3.875% | | 500,000 | | 531,983 | |
| AXA SA, 6.69% | | 1,270,000 | | 1,594,574 | |
| BNP Paribas Cardif SA, 4.03% | | 1,400,000 | | 1,483,625 | |
| CNP Assurances, 4.75% | | 1,500,000 | | 1,542,626 | |
| Credit Agricole Assurances SA, 4.25% | | 1,900,000 | | 2,038,360 | |
| Electricite de France SA, 3.375% | | 1,600,000 | | 1,382,855 | |
| La Banque Postale SA, 3.875% | | 800,000 | | 766,915 | |
| Orange SA, 2.375% | | 500,000 | | 519,794 | |
| TotalEnergies SE, 2.625% | | 2,900,000 | | 3,004,065 | |
| | | 14,134,996 | |
| Germany — 0.4% | | | |
| Allianz SE, 2.625% | | 1,200,000 | | 986,761 | |
Allianz SE, 3.20%(1) | | 805,000 | | 650,118 | |
| Commerzbank AG, 4.25% | | 400,000 | | 349,285 | |
| Deutsche Bank AG, 4.625% | | 600,000 | | 525,501 | |
| | | 2,511,665 | |
| Italy — 1.1% | | | |
| Assicurazioni Generali SpA, 4.60% | | 1,200,000 | | 1,281,641 | |
| Enel SpA, 2.25% | | 1,000,000 | | 947,593 | |
| Eni SpA, 3.375% | | 2,700,000 | | 2,522,675 | |
| Intesa Sanpaolo SpA, 3.75% | | 900,000 | | 878,178 | |
| Intesa Sanpaolo Vita SpA, 4.75% | | 1,000,000 | | 1,069,030 | |
| UniCredit SpA, 3.875% | | 1,000,000 | | 860,887 | |
| | | 7,560,004 | |
| Netherlands — 1.1% | | | |
| Cooperatieve Rabobank UA, 3.10% | | 600,000 | | 531,173 | |
| | | | | | | | | | | |
| Naturgy Finance BV, 2.37% | | 1,700,000 | | 1,633,457 | |
| Telefonica Europe BV, 2.38% | | 1,600,000 | | 1,389,451 | |
| Telefonica Europe BV, 2.875% | | 1,200,000 | | 1,138,993 | |
| Volkswagen International Finance NV, 3.875% | | 3,500,000 | | 3,334,192 | |
| | | 8,027,266 | |
| United Kingdom — 0.3% | | | |
| Lloyds Banking Group PLC, 8.50% | | 800,000 | | 1,015,868 | |
| SSE PLC, 3.125% | | 1,000,000 | | 1,012,495 | |
| | | 2,028,363 | |
TOTAL PREFERRED STOCKS (Cost $40,632,865) | | | 35,194,544 | |
| COLLATERALIZED LOAN OBLIGATIONS — 2.4% | | | |
ACRES Commercial Realty Ltd., Series 2021-FL1, Class A, VRN, 5.67%, (1-month LIBOR plus 1.20%), 6/15/36(1) | | 2,706,500 | | 2,658,812 | |
AIMCO CLO Ltd., Series 2019-10A, Class CR, VRN, 6.72%, (3-month LIBOR plus 1.90%), 7/22/32(1) | | 1,100,000 | | 1,054,426 | |
Allegro CLO V Ltd., Series 2017-1A, Class BR, VRN, 6.24%, (3-month LIBOR plus 1.45%), 10/16/30(1) | | 750,000 | | 721,515 | |
Carlyle Global Market Strategies CLO Ltd., Series 2019-2A, Class A2R, VRN, 6.44%, (3-month LIBOR plus 1.65%), 7/15/32(1) | | 850,000 | | 824,909 | |
CBAM Ltd., Series 2018-7A, Class B1, VRN, 6.41%, (3-month LIBOR plus 1.60%), 7/20/31(1) | | 2,300,000 | | 2,228,961 | |
Dryden 65 CLO Ltd., Series 2018-65A, Class C, VRN, 6.89%, (3-month LIBOR plus 2.10%), 7/18/30(1) | | 2,200,000 | | 2,120,922 | |
Magnetite VIII Ltd., Series 2014-8A, Class BR2, VRN, 6.29%, (3-month LIBOR plus 1.50%), 4/15/31(1) | | 2,050,000 | | 2,019,603 | |
Marathon CLO Ltd., Series 2021-17A, Class B1, VRN, 7.49%, (3-month LIBOR plus 2.68%), 1/20/35(1) | | 1,800,000 | | 1,695,258 | |
MF1 Ltd., Series 2020-FL4, Class A, VRN, 6.30%, (1-month SOFR plus 1.81%), 11/15/35(1) | | 1,871,140 | | 1,856,568 | |
Symphony CLO XXII Ltd., Series 2020-22A, Class B, VRN, 6.49%, (3-month LIBOR plus 1.70%), 4/18/33(1) | | 1,650,000 | | 1,621,661 | |
TOTAL COLLATERALIZED LOAN OBLIGATIONS (Cost $16,924,049) | | | 16,802,635 | |
| ASSET-BACKED SECURITIES — 2.3% | | | |
Aligned Data Centers Issuer LLC, Series 2021-1A, Class A2, SEQ, 1.94%, 8/15/46(1) | | 1,050,000 | | 933,610 | |
Blackbird Capital Aircraft, Series 2021-1A, Class A, SEQ, 2.44%, 7/15/46(1) | | 1,516,462 | | 1,289,132 | |
Cologix Canadian Issuer LP, Series 2022-1CAN, Class A2, SEQ, 4.94%, 1/25/52(1) | CAD | 3,450,000 | | 2,412,913 | |
FirstKey Homes Trust, Series 2020-SFR2, Class E, 2.67%, 10/19/37(1) | | $ | 2,000,000 | | 1,817,443 | |
FirstKey Homes Trust, Series 2022-SFR3, Class B, 4.50%, 7/17/26(1) | | 1,400,000 | | 1,343,320 | |
Goodgreen Trust, Series 2018-1A, Class A, VRN, 3.93%, 10/15/53(1) | | 688,526 | | 646,384 | |
Goodgreen Trust, Series 2020-1A, Class A, SEQ, 2.63%, 4/15/55(1) | | 1,311,416 | | 1,110,169 | |
Goodgreen Trust, Series 2021-1A, Class A, SEQ, 2.66%, 10/15/56(1) | | 872,365 | | 726,595 | |
Navigator Aircraft ABS Ltd., Series 2021-1, Class A, SEQ, 2.77%, 11/15/46(1) | | 3,218,750 | | 2,741,622 | |
Progress Residential Trust, Series 2020-SFR2, Class C, 3.08%, 6/17/37(1) | | 750,000 | | 697,031 | |
Sierra Timeshare Receivables Funding LLC, Series 2019-3A, Class D, 4.18%, 8/20/36(1) | | 466,099 | | 443,689 | |
Sierra Timeshare Receivables Funding LLC, Series 2021-8, Class D, 3.17%, 11/20/37(1) | | 364,955 | | 334,312 | |
Vantage Data Centers LLC, Series 2019-1A, Class A2, SEQ, 3.19%, 7/15/44(1) | | 1,969,334 | | 1,887,745 | |
TOTAL ASSET-BACKED SECURITIES (Cost $17,447,033) | | | 16,383,965 | |
| U.S. GOVERNMENT AGENCY SECURITIES — 0.2% | | | |
FHLMC, 6.25%, 7/15/32 (Cost $1,174,309) | | 890,000 | | 1,065,926 | |
| SHORT-TERM INVESTMENTS — 8.4% | | | |
Money Market Funds† | | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | | 31,258 | | 31,258 | |
| Repurchase Agreements — 3.5% | | | |
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.875%, 10/31/23 - 11/30/23, valued at $6,070,472), in a joint trading account at 4.22%, dated 1/31/23, due 2/1/23 (Delivery value $5,951,051) | | | 5,950,353 | |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.875%, 1/15/2026, valued at $19,159,778), at 4.28%, dated 1/31/23, due 2/1/23 (Delivery value $18,786,233) | | | 18,784,000 | |
| | | 24,734,353 | |
Treasury Bills(5) — 4.9% | | | |
| U.S. Treasury Bills, 3.11%, 2/16/23 | | 7,588,000 | | 7,574,429 | |
| | | | | | | | | | | |
U.S. Treasury Bills, 1.93%, 4/20/23(6) | | 27,000,000 | | 26,734,959 | |
| | | 34,309,388 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $59,234,093) | | | 59,074,999 | |
TOTAL INVESTMENT SECURITIES—98.1% (Cost $762,029,219) | | | 687,260,086 | |
| OTHER ASSETS AND LIABILITIES — 1.9% | | | 13,500,108 | |
| TOTAL NET ASSETS — 100.0% | | | $ | 700,760,194 | |
| | | | | | | | | | | | | | | | | | | | |
| FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS |
| Currency Purchased | Currency Sold | Counterparty | Settlement
Date | Unrealized Appreciation
(Depreciation) |
| AUD | 5,306,412 | | USD | 3,568,668 | | Bank of America N.A. | 3/15/23 | $ | 182,918 | |
| USD | 6,929,999 | | AUD | 10,265,144 | | Bank of America N.A. | 3/15/23 | (327,367) | |
| USD | 3,317,417 | | AUD | 4,894,822 | | Bank of America N.A. | 3/15/23 | (143,179) | |
| USD | 1,933,503 | | AUD | 2,795,261 | | Bank of America N.A. | 3/15/23 | (42,721) | |
| BRL | 36,395,670 | | USD | 7,114,783 | | Goldman Sachs & Co. | 3/15/23 | 1,030 | |
| CAD | 17,612,021 | | USD | 12,954,140 | | Morgan Stanley | 3/15/23 | 286,483 | |
| CAD | 844,958 | | USD | 623,724 | | Morgan Stanley | 3/15/23 | 11,511 | |
| USD | 669,674 | | CAD | 907,645 | | Morgan Stanley | 3/15/23 | (12,689) | |
| USD | 6,892,161 | | CAD | 9,342,462 | | Morgan Stanley | 3/15/23 | (131,452) | |
| CHF | 1,039,562 | | USD | 1,119,911 | | Morgan Stanley | 3/15/23 | 20,649 | |
| CHF | 3,167,429 | | USD | 3,486,150 | | Morgan Stanley | 3/15/23 | (10,990) | |
| USD | 3,369,199 | | CHF | 3,107,362 | | Morgan Stanley | 3/15/23 | (40,058) | |
| CLP | 561,785,702 | | USD | 626,993 | | Bank of America N.A. | 3/15/23 | 74,219 | |
| CNY | 466,331,455 | | USD | 67,535,330 | | Morgan Stanley | 3/15/23 | 1,706,445 | |
| CNY | 5,857,308 | | USD | 845,893 | | Morgan Stanley | 3/15/23 | 23,811 | |
| CNY | 13,593,127 | | USD | 1,994,589 | | Morgan Stanley | 3/15/23 | 23,744 | |
| COP | 4,587,353,477 | | USD | 932,199 | | Morgan Stanley | 3/15/23 | 42,294 | |
| USD | 1,248,172 | | COP | 6,115,670,512 | | Morgan Stanley | 3/15/23 | (50,982) | |
| DKK | 13,093,039 | | USD | 1,865,239 | | UBS AG | 3/15/23 | 53,753 | |
| EUR | 1,629,683 | | USD | 1,760,407 | | Bank of America N.A. | 2/3/23 | 11,431 | |
| EUR | 1,590,469 | | USD | 1,681,571 | | Goldman Sachs & Co. | 2/3/23 | 47,633 | |
| EUR | 3,218,496 | | USD | 3,419,610 | | Goldman Sachs & Co. | 2/3/23 | 79,632 | |
| EUR | 1,607,354 | | USD | 1,713,846 | | Goldman Sachs & Co. | 2/3/23 | 33,716 | |
| EUR | 3,235,727 | | USD | 3,478,824 | | Goldman Sachs & Co. | 2/3/23 | 39,152 | |
| EUR | 1,622,783 | | USD | 1,760,147 | | Goldman Sachs & Co. | 2/3/23 | 4,190 | |
| EUR | 1,637,122 | | USD | 1,778,666 | | Goldman Sachs & Co. | 2/3/23 | 1,261 | |
| EUR | 3,224,006 | | USD | 3,505,428 | | Goldman Sachs & Co. | 2/3/23 | (195) | |
| EUR | 28,767,757 | | USD | 30,434,273 | | Goldman Sachs & Co. | 3/15/23 | 922,867 | |
| EUR | 1,382,315 | | USD | 1,464,026 | | Goldman Sachs & Co. | 3/15/23 | 42,711 | |
| EUR | 819,441 | | USD | 877,653 | | Goldman Sachs & Co. | 3/15/23 | 15,546 | |
| EUR | 592,033 | | USD | 627,916 | | Goldman Sachs & Co. | 3/15/23 | 17,406 | |
| EUR | 409,780 | | USD | 441,490 | | Goldman Sachs & Co. | 3/15/23 | 5,174 | |
| EUR | 182,855 | | USD | 198,485 | | Goldman Sachs & Co. | 3/15/23 | 829 | |
| EUR | 143,127 | | USD | 155,888 | | Goldman Sachs & Co. | 3/15/23 | 122 | |
| USD | 1,532,572 | | EUR | 1,447,568 | | Goldman Sachs & Co. | 2/3/23 | (41,266) | |
| USD | 5,192,546 | | EUR | 4,821,919 | | Goldman Sachs & Co. | 2/3/23 | (49,984) | |
| USD | 1,774,746 | | EUR | 1,637,514 | | Goldman Sachs & Co. | 2/3/23 | (5,607) | |
| USD | 5,295,360 | | EUR | 4,869,897 | | Goldman Sachs & Co. | 2/3/23 | 667 | |
| USD | 1,761,347 | | EUR | 1,617,627 | | Goldman Sachs & Co. | 2/3/23 | 2,616 | |
| USD | 512,444 | | EUR | 484,384 | | Goldman Sachs & Co. | 3/15/23 | (15,539) | |
| USD | 514,040 | | EUR | 484,864 | | Goldman Sachs & Co. | 3/15/23 | (14,466) | |
| USD | 379,871 | | EUR | 357,694 | | Goldman Sachs & Co. | 3/15/23 | (10,019) | |
| USD | 1,041,864 | | EUR | 975,965 | | Goldman Sachs & Co. | 3/15/23 | (21,947) | |
| | | | | | | | | | | | | | | | | | | | |
| USD | 410,000 | | EUR | 381,935 | | Goldman Sachs & Co. | 3/15/23 | (6,313) | |
| USD | 158,335 | | EUR | 146,731 | | Goldman Sachs & Co. | 3/15/23 | (1,603) | |
| USD | 234,092 | | EUR | 216,503 | | Goldman Sachs & Co. | 3/15/23 | (1,899) | |
| USD | 209,234 | | EUR | 193,009 | | Goldman Sachs & Co. | 3/15/23 | (1,148) | |
| USD | 1,317,216 | | EUR | 1,207,754 | | Goldman Sachs & Co. | 3/15/23 | 753 | |
| USD | 2,079,176 | | EUR | 1,906,799 | | Goldman Sachs & Co. | 3/15/23 | 746 | |
| USD | 730,677 | | EUR | 672,197 | | Goldman Sachs & Co. | 3/15/23 | (2,024) | |
| USD | 2,789,816 | | EUR | 2,561,968 | | Goldman Sachs & Co. | 3/15/23 | (2,754) | |
| GBP | 5,504,350 | | USD | 6,646,227 | | Bank of America N.A. | 3/15/23 | 145,972 | |
| GBP | 189,347 | | USD | 232,922 | | Bank of America N.A. | 3/15/23 | 726 | |
| USD | 4,708,162 | | GBP | 3,847,418 | | Bank of America N.A. | 3/15/23 | (39,434) | |
| USD | 1,017,928 | | GBP | 830,893 | | Bank of America N.A. | 3/15/23 | (7,369) | |
| USD | 201,591 | | GBP | 165,112 | | Bank of America N.A. | 3/15/23 | (2,152) | |
| USD | 103,320 | | GBP | 86,554 | | Bank of America N.A. | 3/15/23 | (3,485) | |
| HUF | 268,929,213 | | USD | 666,941 | | UBS AG | 3/16/23 | 70,075 | |
| HUF | 2,593,528,107 | | USD | 6,960,249 | | UBS AG | 3/16/23 | 147,463 | |
| IDR | 5,330,021,468 | | USD | 342,767 | | Goldman Sachs & Co. | 3/15/23 | 12,312 | |
| IDR | 111,964,161,310 | | USD | 7,502,289 | | Goldman Sachs & Co. | 3/15/23 | (43,388) | |
| USD | 7,408,683 | | IDR | 112,500,848,720 | | Goldman Sachs & Co. | 3/15/23 | (85,971) | |
| ILS | 5,431,850 | | USD | 1,589,999 | | UBS AG | 3/15/23 | (14,031) | |
| ILS | 5,282,811 | | USD | 1,570,116 | | UBS AG | 3/15/23 | (37,389) | |
| USD | 3,571,320 | | ILS | 12,163,915 | | UBS AG | 3/15/23 | 42,146 | |
| USD | 5,096,005 | | ILS | 17,337,628 | | UBS AG | 3/15/23 | 65,758 | |
| USD | 3,522,092 | | ILS | 12,105,079 | | UBS AG | 3/15/23 | 9,989 | |
| JPY | 12,621,648,897 | | USD | 94,132,345 | | Bank of America N.A. | 3/15/23 | 3,381,440 | |
| JPY | 442,680,014 | | USD | 3,300,700 | | Bank of America N.A. | 3/15/23 | 119,408 | |
| JPY | 213,007,292 | | USD | 1,604,732 | | Bank of America N.A. | 3/15/23 | 40,944 | |
| JPY | 68,373,417 | | USD | 521,085 | | Bank of America N.A. | 3/15/23 | 7,163 | |
| JPY | 89,833,092 | | USD | 695,235 | | Bank of America N.A. | 3/15/23 | (1,193) | |
| USD | 823,612 | | JPY | 110,396,090 | | Bank of America N.A. | 3/15/23 | (29,299) | |
| USD | 776,856 | | JPY | 104,618,469 | | Bank of America N.A. | 3/15/23 | (31,417) | |
| USD | 317,585 | | JPY | 41,525,491 | | Bank of America N.A. | 3/15/23 | (3,238) | |
| USD | 3,441,900 | | JPY | 456,602,456 | | Bank of America N.A. | 3/15/23 | (85,772) | |
| USD | 553,855 | | JPY | 70,516,833 | | Bank of America N.A. | 3/15/23 | 9,048 | |
| KRW | 15,978,983,409 | | USD | 12,132,405 | | Morgan Stanley | 3/15/23 | 842,648 | |
| KRW | 701,124,658 | | USD | 534,348 | | Morgan Stanley | 3/15/23 | 34,970 | |
| USD | 339,537 | | KRW | 428,190,041 | | Morgan Stanley | 3/15/23 | (8,157) | |
| USD | 657,334 | | KRW | 809,280,908 | | Morgan Stanley | 3/15/23 | 192 | |
| MXN | 11,489,292 | | USD | 574,048 | | UBS AG | 3/15/23 | 31,621 | |
| MYR | 9,136,966 | | USD | 2,099,294 | | Goldman Sachs & Co. | 3/15/23 | 51,542 | |
| NOK | 3,899,867 | | USD | 397,179 | | UBS AG | 3/15/23 | (5,726) | |
| NZD | 123,663 | | USD | 78,709 | | Morgan Stanley | 3/15/23 | 1,255 | |
| NZD | 5,347,610 | | USD | 3,338,433 | | Morgan Stanley | 3/15/23 | 119,471 | |
| NZD | 10,873,337 | | USD | 6,962,045 | | Morgan Stanley | 3/15/23 | 68,937 | |
| USD | 12,690,738 | | NZD | 19,891,502 | | Morgan Stanley | 3/15/23 | (171,624) | |
| USD | 3,417,579 | | NZD | 5,359,428 | | Morgan Stanley | 3/15/23 | (47,967) | |
| USD | 7,042,331 | | NZD | 10,950,072 | | Morgan Stanley | 3/15/23 | (38,270) | |
| USD | 7,061,169 | | NZD | 10,893,083 | | Morgan Stanley | 3/15/23 | 17,418 | |
| PEN | 13,211,051 | | USD | 3,419,806 | | Goldman Sachs & Co. | 3/15/23 | 4,044 | |
| USD | 3,849,951 | | PEN | 14,880,061 | | Morgan Stanley | 3/15/23 | (6,448) | |
| USD | 1,494,962 | | PLN | 6,773,013 | | UBS AG | 3/15/23 | (63,779) | |
| RON | 3,820,879 | | USD | 811,556 | | UBS AG | 3/15/23 | 31,093 | |
| SEK | 34,090,516 | | USD | 3,316,166 | | UBS AG | 3/15/23 | (48,903) | |
| SEK | 38,212,734 | | USD | 3,710,364 | | UBS AG | 3/15/23 | (48,024) | |
| USD | 3,519,412 | | SEK | 35,701,973 | | UBS AG | 3/15/23 | 97,706 | |
| | | | | | | | | | | | | | | | | | | | |
| THB | 44,312,073 | | USD | 1,284,594 | | Bank of America N.A. | 3/15/23 | 63,447 | |
| USD | 5,727,851 | | ZAR | 98,645,051 | | UBS AG | 3/15/23 | 78,833 | |
| ZAR | 98,645,051 | | USD | 5,727,286 | | UBS AG | 3/15/23 | (78,268) | |
| | | | | | $ | 7,313,424 | |
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS PURCHASED | | | | |
| Reference Entity | Contracts | Expiration Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| Euro-Bobl 5-Year Bonds | 119 | | March 2023 | $ | 15,175,205 | | $ | (343,551) | |
| Euro-Buxl 30-Year Bonds | 9 | | March 2023 | 1,408,947 | | (189,568) | |
| Japanese 10-Year Government Bonds | 31 | | March 2023 | 34,904,621 | | (449,238) | |
| Korean Treasury 10-Year Bonds | 155 | | March 2023 | 14,382,611 | | 145,714 | |
| U.K. Gilt 10-Year Bonds | 71 | | March 2023 | 9,148,002 | | (103,730) | |
| U.S. Treasury 10-Year Notes | 365 | | March 2023 | 41,798,203 | | (356,637) | |
| | | $ | 116,817,589 | | $ | (1,297,010) | |
^Amount represents value and unrealized appreciation (depreciation).
| | | | | | | | | | | | | | |
| FUTURES CONTRACTS SOLD | | | | |
| Reference Entity | Contracts | Expiration Date | Notional
Amount | Unrealized
Appreciation
(Depreciation)^ |
| U.S. Treasury 2-Year Notes | 81 | | March 2023 | $ | 16,657,523 | | $ | 27,685 | |
| U.S. Treasury 10-Year Ultra Notes | 166 | | March 2023 | 20,119,719 | | (195,503) | |
| U.S. Treasury Long Bonds | 63 | | March 2023 | 8,182,125 | | (138,562) | |
| U.S. Treasury Ultra Bonds | 23 | | March 2023 | 3,260,250 | | (78,581) | |
| | | $ | 48,219,617 | | $ | (384,961) | |
^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 38 | Buy | (5.00)% | 6/20/27 | $ | 9,851,490 | | $ | (1,761) | | $ | (439,443) | | $ | (441,204) | |
| Markit CDX North America High Yield Index Series 39 | Buy | (5.00)% | 12/20/27 | $ | 32,052,000 | | (168,311) | | (883,711) | | (1,052,022) | |
| | | | | $ | (170,072) | | $ | (1,323,154) | | $ | (1,493,226) | |
§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.
| | | | | | | | | | | | | | | | | | | | | | | |
| CENTRALLY CLEARED TOTAL RETURN SWAP AGREEMENTS |
Floating Rate Index | Pay/Receive Floating Rate Index at Termination | Fixed
Rate | Termination
Date | Notional
Amount | Premiums
Paid
(Received) | Unrealized
Appreciation
(Depreciation) | Value |
| CPURNSA | Receive | 2.90% | 10/11/23 | $ | 2,750,000 | | $ | 348 | | $ | (6,799) | | $ | (6,451) | |
| CPURNSA | Receive | 2.97% | 10/14/23 | $ | 4,150,000 | | 353 | | (13,013) | | (12,660) | |
| CPURNSA | Receive | 2.97% | 10/14/23 | $ | 4,150,000 | | 353 | | (13,013) | | (12,660) | |
| | | | | $ | 1,054 | | $ | (32,825) | | $ | (31,771) | |
| | | | | | | | |
| NOTES TO SCHEDULE OF INVESTMENTS |
| AUD | – | Australian Dollar |
| BRL | – | Brazilian Real |
| CAD | – | Canadian Dollar |
| CDX | – | Credit Derivatives Indexes |
| CHF | – | Swiss Franc |
| CLP | – | Chilean Peso |
| CNY | – | Chinese Yuan |
| COP | – | Colombian Peso |
| CPURNSA | – | U.S. Consumer Price Index Urban Consumers Not Seasonally Adjusted Index |
| CZK | – | Czech Koruna |
| DKK | – | Danish Krone |
| EUR | – | Euro |
| FHLMC | – | Federal Home Loan Mortgage Corporation |
| GBP | – | British Pound |
| HUF | – | Hungarian Forint |
| IDR | – | Indonesian Rupiah |
| ILS | – | Israeli Shekel |
| JPY | – | Japanese Yen |
| KRW | – | South Korean Won |
| LIBOR | – | London Interbank Offered Rate |
| MXN | – | Mexican Peso |
| MYR | – | Malaysian Ringgit |
| NOK | – | Norwegian Krone |
| NZD | – | New Zealand Dollar |
| PEN | – | Peruvian Sol |
| PLN | – | Polish Zloty |
| RON | – | New Romanian Leu |
| SEK | – | Swedish Krona |
| SEQ | – | Sequential Payer |
| SGD | – | Singapore Dollar |
| SOFR | – | Secured Overnight Financing Rate |
| THB | – | Thai Baht |
| USD | – | United States Dollar |
| 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. |
| ZAR | – | South African Rand |
†Category is less than 0.05% of total net assets.
(1)Security was purchased pursuant to Rule 144A or Section 4(2) 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 $107,322,220, which represented 15.3% of total net assets.
(2)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.
(3)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(4)Perpetual maturity with no stated maturity date.
(5)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.
(6)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 $6,624,331.
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 Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.
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. Corporate bonds, U.S. Treasury and Government Agency securities, bank loan obligations, and sovereign governments and agencies 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. Mortgage-related and asset-backed securities are valued based on models that consider trade data, prepayment and default projections, benchmark yield and spread data and estimated cash flows of each tranche of the issuer. Collateralized loan obligations are valued based on discounted cash flow models that consider trade and economic data, prepayment assumptions and default projections. Commercial paper is valued using a curve-based approach that considers money market rates for specific instruments, programs, currencies and maturity points from a variety of active market makers. 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.
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. Equity 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.
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. Hybrid 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 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. 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 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 | | | |
| Sovereign Governments and Agencies | — | | $ | 397,143,270 | | — | |
| Corporate Bonds | — | | 115,194,943 | | — | |
| U.S. Treasury Securities | — | | 46,399,804 | | — | |
| Preferred Stocks | — | | 35,194,544 | | — | |
| Collateralized Loan Obligations | — | | 16,802,635 | | — | |
| Asset-Backed Securities | — | | 16,383,965 | | — | |
| U.S. Government Agency Securities | — | | 1,065,926 | | — | |
| Short-Term Investments | $ | 31,258 | | 59,043,741 | | — | |
| $ | 31,258 | | $ | 687,228,828 | | — | |
| Other Financial Instruments | | | |
| Futures Contracts | $ | 27,685 | | $ | 145,714 | | — | |
| Forward Foreign Currency Exchange Contracts | — | | 9,148,930 | | — | |
| $ | 27,685 | | $ | 9,294,644 | | — | |
| Liabilities | | | |
| Other Financial Instruments | | | |
| Futures Contracts | $ | 769,283 | | $ | 1,086,087 | | — | |
| Swap Agreements | — | | 1,524,997 | | — | |
| Forward Foreign Currency Exchange Contracts | — | | 1,835,506 | | — | |
| $ | 769,283 | | $ | 4,446,590 | | — | |
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.
