American Century Investments®
Quarterly Portfolio Holdings
Small Cap Dividend Fund
June 30, 2022
| Small Cap Dividend - Schedule of Investments | ||
| JUNE 30, 2022 (UNAUDITED) | ||
| Shares/ Principal Amount ($) | Value ($) | ||||||||||
| COMMON STOCKS — 98.9% | |||||||||||
| Aerospace and Defense — 2.7% | |||||||||||
| Cadre Holdings, Inc. | 897 | 17,644 | |||||||||
| Park Aerospace Corp. | 2,013 | 25,686 | |||||||||
| 43,330 | |||||||||||
| Banks — 22.7% | |||||||||||
| F.N.B. Corp. | 1,747 | 18,972 | |||||||||
| Financial Institutions, Inc. | 745 | 19,385 | |||||||||
| First Hawaiian, Inc. | 186 | 4,224 | |||||||||
| First Interstate Bancsystem, Inc., Class A | 375 | 14,291 | |||||||||
| First Merchants Corp. | 138 | 4,916 | |||||||||
| HBT Financial, Inc. | 1,132 | 20,229 | |||||||||
| Home BancShares, Inc. | 1,690 | 35,101 | |||||||||
| Pacific Premier Bancorp, Inc. | 1,069 | 31,258 | |||||||||
| PacWest Bancorp | 1,254 | 33,432 | |||||||||
| Popular, Inc. | 505 | 38,850 | |||||||||
| Premier Financial Corp. | 426 | 10,799 | |||||||||
| Towne Bank | 540 | 14,661 | |||||||||
| Umpqua Holdings Corp. | 2,051 | 34,395 | |||||||||
| United Bankshares, Inc. | 1,193 | 41,838 | |||||||||
| Valley National Bancorp | 2,036 | 21,195 | |||||||||
| Webster Financial Corp. | 409 | 17,239 | |||||||||
| 360,785 | |||||||||||
| Building Products — 2.5% | |||||||||||
| Fortune Brands Home & Security, Inc. | 266 | 15,928 | |||||||||
| Tecnoglass, Inc. | 1,334 | 23,412 | |||||||||
| 39,340 | |||||||||||
| Capital Markets — 3.5% | |||||||||||
| Carlyle Group, Inc. | 592 | 18,743 | |||||||||
| Patria Investments Ltd., A Shares | 1,632 | 21,575 | |||||||||
| Sculptor Capital Management, Inc. | 1,877 | 15,673 | |||||||||
| 55,991 | |||||||||||
| Chemicals — 3.1% | |||||||||||
| Chase Corp. | 115 | 8,948 | |||||||||
| RPM International, Inc. | 212 | 16,689 | |||||||||
| Valvoline, Inc. | 816 | 23,525 | |||||||||
| 49,162 | |||||||||||
| Commercial Services and Supplies — 4.7% | |||||||||||
| Brink's Co. | 624 | 37,883 | |||||||||
| Deluxe Corp. | 953 | 20,652 | |||||||||
| Healthcare Services Group, Inc. | 898 | 15,634 | |||||||||
| 74,169 | |||||||||||
| Containers and Packaging — 3.0% | |||||||||||
| Graphic Packaging Holding Co. | 1,558 | 31,939 | |||||||||
| Sonoco Products Co. | 265 | 15,116 | |||||||||
| 47,055 | |||||||||||
| Diversified Consumer Services — 1.1% | |||||||||||
| H&R Block, Inc. | 490 | 17,307 | |||||||||
| Diversified Financial Services — 1.8% | |||||||||||
| Compass Diversified Holdings | 1,307 | 27,996 | |||||||||
| Electric Utilities — 1.0% | |||||||||||
| ALLETE, Inc. | 165 | 9,699 | |||||||||
| PNM Resources, Inc. | 141 | 6,737 | |||||||||
| 16,436 | |||||||||||
| Electronic Equipment, Instruments and Components — 3.2% | |||||||||||
| Avnet, Inc. | 745 | 31,946 | |||||||||
| Vishay Intertechnology, Inc. | 1,092 | 19,459 | |||||||||
| 51,405 | |||||||||||
| Energy Equipment and Services — 1.5% | |||||||||||
| ChampionX Corp. | 1,182 | 23,463 | |||||||||
| Equity Real Estate Investment Trusts (REITs) — 6.6% | |||||||||||
| Brandywine Realty Trust | 1,437 | 13,853 | |||||||||
| CareTrust REIT, Inc. | 973 | 17,942 | |||||||||
| Easterly Government Properties, Inc. | 531 | 10,110 | |||||||||
| Four Corners Property Trust, Inc. | 892 | 23,718 | |||||||||
| Healthcare Realty Trust, Inc. | 195 | 5,304 | |||||||||
| Highwoods Properties, Inc. | 592 | 20,241 | |||||||||
| LTC Properties, Inc. | 201 | 7,716 | |||||||||
| Urstadt Biddle Properties, Inc., Class A | 327 | 5,297 | |||||||||
| 104,181 | |||||||||||
| Gas Utilities — 0.6% | |||||||||||
| Northwest Natural Holding Co. | 60 | 3,186 | |||||||||
| Southwest Gas Holdings, Inc. | 79 | 6,879 | |||||||||
| 10,065 | |||||||||||
| Health Care Equipment and Supplies — 1.3% | |||||||||||
Embecta Corp.(1) | 829 | 20,990 | |||||||||
| Health Care Providers and Services — 2.5% | |||||||||||
| National Healthcare Corp. | 115 | 8,039 | |||||||||
| Patterson Cos., Inc. | 1,054 | 31,936 | |||||||||
| 39,975 | |||||||||||
| Household Durables — 2.0% | |||||||||||
| Leggett & Platt, Inc. | 922 | 31,883 | |||||||||
| Household Products — 3.0% | |||||||||||
| Spectrum Brands Holdings, Inc. | 571 | 46,833 | |||||||||
| Insurance — 5.2% | |||||||||||
| AMERISAFE, Inc. | 264 | 13,731 | |||||||||
| Axis Capital Holdings Ltd. | 581 | 33,169 | |||||||||
| ProAssurance Corp. | 505 | 11,933 | |||||||||
| RenaissanceRe Holdings Ltd. | 148 | 23,143 | |||||||||
| 81,976 | |||||||||||
| IT Services — 2.3% | |||||||||||
| EVERTEC, Inc. | 1,003 | 36,991 | |||||||||
| Machinery — 5.3% | |||||||||||
| Hurco Cos., Inc. | 241 | 5,962 | |||||||||
| IMI PLC | 717 | 10,284 | |||||||||
| Luxfer Holdings PLC | 1,885 | 28,501 | |||||||||
| Timken Co. | 749 | 39,735 | |||||||||
| 84,482 | |||||||||||
| Media — 3.1% | |||||||||||
| Entravision Communications Corp., Class A | 5,635 | 25,695 | |||||||||
| John Wiley & Sons, Inc., Class A | 493 | 23,546 | |||||||||
| 49,241 | |||||||||||
| Multi-Utilities — 1.2% | |||||||||||
| NorthWestern Corp. | 311 | 18,327 | |||||||||
| Oil, Gas and Consumable Fuels — 3.2% | |||||||||||
| Enviva, Inc. | 336 | 19,226 | |||||||||
| Hess Midstream LP, Class A | 1,139 | 31,892 | |||||||||
| 51,118 | |||||||||||
| Paper and Forest Products — 0.4% | |||||||||||
| Neenah, Inc. | 193 | 6,589 | |||||||||
| Professional Services — 0.9% | |||||||||||
| Public Policy Holding Co., Inc. | 8,172 | 14,772 | |||||||||
| Semiconductors and Semiconductor Equipment — 2.4% | |||||||||||
| Kulicke & Soffa Industries, Inc. | 643 | 27,527 | |||||||||
| MKS Instruments, Inc. | 107 | 10,981 | |||||||||
| 38,508 | |||||||||||
| Specialty Retail — 2.0% | |||||||||||
| Penske Automotive Group, Inc. | 303 | 31,721 | |||||||||
| Textiles, Apparel and Luxury Goods — 3.6% | |||||||||||
| Ralph Lauren Corp. | 260 | 23,309 | |||||||||
| Tapestry, Inc. | 1,095 | 33,419 | |||||||||
| 56,728 | |||||||||||
| Thrifts and Mortgage Finance — 0.7% | |||||||||||
| Enact Holdings, Inc. | 154 | 3,308 | |||||||||
| Provident Financial Services, Inc. | 383 | 8,525 | |||||||||
| 11,833 | |||||||||||
| Trading Companies and Distributors — 1.8% | |||||||||||
| Applied Industrial Technologies, Inc. | 298 | 28,659 | |||||||||
TOTAL COMMON STOCKS (Cost $1,724,960) | 1,571,311 | ||||||||||
| PREFERRED STOCKS — 4.6% | |||||||||||
| Banks — 2.5% | |||||||||||
| FNB Corp., 7.25% | 291 | 7,432 | |||||||||
| PacWest Bancorp, 7.75% | 760 | 19,433 | |||||||||
| Valley National Bancorp, 6.25% | 536 | 13,191 | |||||||||
| 40,056 | |||||||||||
| Diversified Financial Services — 2.1% | |||||||||||
| Compass Diversified Holdings, 7.875% | 1,255 | 32,806 | |||||||||
TOTAL PREFERRED STOCKS (Cost $73,358) | 72,862 | ||||||||||
| CONVERTIBLE PREFERRED STOCKS — 2.6% | |||||||||||
| Electronic Equipment, Instruments and Components — 2.6% | |||||||||||
II-VI, Inc., 6.00%, 7/1/23 (Cost $51,591) | 193 | 41,622 | |||||||||
| CONVERTIBLE BONDS — 0.7% | |||||||||||
| Building Products — 0.7% | |||||||||||
DIRTT Environmental Solutions, 6.00%, 1/31/26 (Cost $12,118) | CAD | 18,000 | 10,488 | ||||||||
| SHORT-TERM INVESTMENTS — 2.6% | |||||||||||
| Money Market Funds — 1.3% | |||||||||||
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 20,487 | 20,487 | |||||||||
| Repurchase Agreements — 1.3% | |||||||||||
| BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.125% - 4.25%, 5/15/23 - 11/15/43, valued at $20,791), in a joint trading account at 1.43%, dated 6/30/22, due 7/1/22 (Delivery value $20,304) | 20,304 | ||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $40,791) | 40,791 | ||||||||||
TOTAL INVESTMENT SECURITIES — 109.4% (Cost $1,902,818) | 1,737,074 | ||||||||||
| OTHER ASSETS AND LIABILITIES — (9.4)% | (148,576) | ||||||||||
| TOTAL NET ASSETS — 100.0% | $ | 1,588,498 | |||||||||
| FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | ||||||||||||||||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
| USD | 21,642 | GBP | 17,616 | Bank of America N.A. | 9/30/22 | $ | 162 | |||||||||||||
| NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
| CAD | - | Canadian Dollar | ||||||
| GBP | - | British Pound | ||||||
| USD | - | United States Dollar | ||||||
(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 Board of Directors has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
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.
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. Convertible bonds are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information. Fixed income securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.
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. 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.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Directors or its delegate, in accordance with policies and procedures adopted by the Board of Directors. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s 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 Directors, 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 | |||||||||||
| Common Stocks | 1,546,255 | 25,056 | — | ||||||||
| Preferred Stocks | 72,862 | — | — | ||||||||
| Convertible Preferred Stocks | — | 41,622 | — | ||||||||
| Convertible Bonds | — | 10,488 | — | ||||||||
| Short-Term Investments | 20,487 | 20,304 | — | ||||||||
| 1,639,604 | 97,470 | — | |||||||||
| Other Financial Instruments | |||||||||||
| Forward Foreign Currency Exchange Contracts | — | 162 | — | ||||||||
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.