American Century Investments®
Quarterly Portfolio Holdings
Small Cap Value Fund
June 30, 2022
Small Cap Value - Schedule of Investments | ||
JUNE 30, 2022 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
COMMON STOCKS — 99.1% | ||||||||
Banks — 22.6% | ||||||||
Ameris Bancorp | 1,665,000 | 66,899,700 | ||||||
BankUnited, Inc. | 1,885,000 | 67,049,450 | ||||||
ConnectOne Bancorp, Inc. | 1,080,000 | 26,406,000 | ||||||
F.N.B. Corp. | 8,500,000 | 92,310,000 | ||||||
First BanCorp | 7,795,000 | 100,633,450 | ||||||
First Hawaiian, Inc. | 576,574 | 13,093,995 | ||||||
First Interstate Bancsystem, Inc., Class A | 790,000 | 30,106,900 | ||||||
First Merchants Corp. | 435,000 | 15,494,700 | ||||||
First Mid Bancshares, Inc. | 320,467 | 11,431,058 | ||||||
Home BancShares, Inc. | 3,315,000 | 68,852,550 | ||||||
Independent Bank Corp. (Massachusetts) | 400,000 | 31,772,000 | ||||||
Independent Bank Group, Inc. | 964,897 | 65,526,155 | ||||||
Old National Bancorp. | 6,447,501 | 95,358,540 | ||||||
Origin Bancorp, Inc. | 685,000 | 26,578,000 | ||||||
Pacific Premier Bancorp, Inc. | 2,180,000 | 63,743,200 | ||||||
Premier Financial Corp. | 710,000 | 17,998,500 | ||||||
QCR Holdings, Inc. | 400,000 | 21,596,000 | ||||||
SouthState Corp. | 1,415,000 | 109,167,250 | ||||||
Towne Bank | 995,000 | 27,014,250 | ||||||
UMB Financial Corp. | 1,255,000 | 108,055,500 | ||||||
Valley National Bancorp | 7,370,000 | 76,721,700 | ||||||
Veritex Holdings, Inc. | 1,855,000 | 54,277,300 | ||||||
1,190,086,198 | ||||||||
Building Products — 1.4% | ||||||||
DIRTT Environmental Solutions(1) | 3,909,691 | 4,183,369 | ||||||
Hayward Holdings, Inc.(1) | 2,060,000 | 29,643,400 | ||||||
Tecnoglass, Inc.(2) | 2,400,000 | 42,120,000 | ||||||
75,946,769 | ||||||||
Capital Markets — 1.2% | ||||||||
Donnelley Financial Solutions, Inc.(1)(2) | 1,740,000 | 50,964,600 | ||||||
Patria Investments Ltd., A Shares | 1,085,000 | 14,343,700 | ||||||
65,308,300 | ||||||||
Chemicals — 1.1% | ||||||||
Minerals Technologies, Inc. | 935,000 | 57,352,900 | ||||||
Commercial Services and Supplies — 5.9% | ||||||||
Brink's Co. | 1,750,000 | 106,242,500 | ||||||
CECO Environmental Corp.(1)(2) | 1,760,101 | 10,525,404 | ||||||
Charah Solutions, Inc.(1)(2)(3) | 1,925,932 | 7,202,986 | ||||||
Deluxe Corp.(2) | 2,240,000 | 48,540,800 | ||||||
Healthcare Services Group, Inc. | 1,345,000 | 23,416,450 | ||||||
KAR Auction Services, Inc.(1) | 3,655,000 | 53,984,350 | ||||||
Loomis AB | 1,635,000 | 39,939,008 | ||||||
UniFirst Corp. | 125,000 | 21,522,500 | ||||||
311,373,998 | ||||||||
Construction and Engineering — 1.2% | ||||||||
Dycom Industries, Inc.(1) | 705,000 | 65,593,200 | ||||||
Containers and Packaging — 2.8% | ||||||||
Graphic Packaging Holding Co. | 4,815,000 | 98,707,500 |
Pactiv Evergreen, Inc. | 4,885,000 | 48,654,600 | ||||||
147,362,100 | ||||||||
Diversified Financial Services — 2.5% | ||||||||
A-Mark Precious Metals, Inc. | 1,080,000 | 34,830,000 | ||||||
Compass Diversified Holdings(2)(3) | 4,620,905 | 98,979,785 | ||||||
133,809,785 | ||||||||
Electric Utilities — 0.7% | ||||||||
ALLETE, Inc. | 285,000 | 16,752,300 | ||||||
PNM Resources, Inc. | 425,000 | 20,306,500 | ||||||
37,058,800 | ||||||||
Electronic Equipment, Instruments and Components — 6.9% | ||||||||
Advanced Energy Industries, Inc. | 305,000 | 22,258,900 | ||||||
Avnet, Inc. | 2,095,000 | 89,833,600 | ||||||
Belden, Inc. | 1,110,000 | 59,129,700 | ||||||
Coherent, Inc.(1) | 90,000 | 23,959,800 | ||||||
II-VI, Inc.(1)(3) | 2,455,000 | 125,082,250 | ||||||
Vontier Corp. | 1,785,000 | 41,037,150 | ||||||
361,301,400 | ||||||||
Energy Equipment and Services — 1.2% | ||||||||
ChampionX Corp. | 3,160,000 | 62,726,000 | ||||||
NCS Multistage Holdings, Inc.(1) | 54,233 | 1,659,530 | ||||||
64,385,530 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 6.1% | ||||||||
Brandywine Realty Trust | 4,075,000 | 39,283,000 | ||||||
CareTrust REIT, Inc. | 1,835,376 | 33,844,333 | ||||||
Cousins Properties, Inc. | 660,000 | 19,291,800 | ||||||
Easterly Government Properties, Inc. | 1,090,000 | 20,753,600 | ||||||
Four Corners Property Trust, Inc. | 1,705,000 | 45,335,950 | ||||||
Getty Realty Corp. | 800,000 | 21,200,000 | ||||||
Healthcare Realty Trust, Inc. | 605,000 | 16,456,000 | ||||||
Highwoods Properties, Inc. | 550,000 | 18,804,500 | ||||||
Kite Realty Group Trust | 1,060,000 | 18,327,400 | ||||||
National Health Investors, Inc. | 590,000 | 35,759,900 | ||||||
Physicians Realty Trust | 1,015,000 | 17,711,750 | ||||||
Sabra Health Care REIT, Inc. | 1,050,000 | 14,668,500 | ||||||
Summit Hotel Properties, Inc.(1) | 2,430,000 | 17,666,100 | ||||||
319,102,833 | ||||||||
Gas Utilities — 0.6% | ||||||||
Northwest Natural Holding Co. | 200,000 | 10,620,000 | ||||||
Southwest Gas Holdings, Inc. | 245,000 | 21,334,600 | ||||||
31,954,600 | ||||||||
Health Care Equipment and Supplies — 2.4% | ||||||||
Embecta Corp.(1) | 1,385,000 | 35,068,200 | ||||||
Enovis Corp.(1) | 835,000 | 45,925,000 | ||||||
Varex Imaging Corp.(1) | 1,415,000 | 30,266,850 | ||||||
Zimvie, Inc.(1) | 815,000 | 13,048,150 | ||||||
124,308,200 | ||||||||
Health Care Providers and Services — 2.1% | ||||||||
AMN Healthcare Services, Inc.(1) | 285,000 | 31,267,350 | ||||||
National Healthcare Corp. | 169,163 | 11,824,494 | ||||||
Patterson Cos., Inc. | 2,305,000 | 69,841,500 | ||||||
112,933,344 | ||||||||
Hotels, Restaurants and Leisure — 2.7% | ||||||||
Accel Entertainment, Inc.(1) | 3,811,014 | 40,472,969 | ||||||
Boyd Gaming Corp. | 425,000 | 21,143,750 |
Dave & Buster's Entertainment, Inc.(1) | 1,470,000 | 48,186,600 | ||||||
Penn National Gaming, Inc.(1) | 675,000 | 20,533,500 | ||||||
Red Robin Gourmet Burgers, Inc.(1)(2) | 1,533,309 | 12,312,471 | ||||||
142,649,290 | ||||||||
Household Durables — 2.3% | ||||||||
Mohawk Industries, Inc.(1) | 300,000 | 37,227,000 | ||||||
Skyline Champion Corp.(1) | 1,725,000 | 81,799,500 | ||||||
119,026,500 | ||||||||
Household Products — 2.8% | ||||||||
Spectrum Brands Holdings, Inc. | 1,764,166 | 144,696,895 | ||||||
Insurance — 2.7% | ||||||||
Axis Capital Holdings Ltd. | 1,785,000 | 101,905,650 | ||||||
James River Group Holdings Ltd. | 325,000 | 8,053,500 | ||||||
ProAssurance Corp. | 1,355,000 | 32,018,650 | ||||||
141,977,800 | ||||||||
IT Services — 2.8% | ||||||||
Euronet Worldwide, Inc.(1) | 190,000 | 19,112,100 | ||||||
EVERTEC, Inc. | 3,100,000 | 114,328,000 | ||||||
IBEX Holdings Ltd.(1) | 845,000 | 14,255,150 | ||||||
147,695,250 | ||||||||
Leisure Products — 2.9% | ||||||||
Brunswick Corp. | 1,365,000 | 89,243,700 | ||||||
Malibu Boats, Inc., Class A(1) | 1,005,000 | 52,973,550 | ||||||
Solo Brands, Inc., Class A(1)(3) | 2,465,000 | 10,007,900 | ||||||
152,225,150 | ||||||||
Machinery — 4.4% | ||||||||
Esab Corp. | 815,000 | 35,656,250 | ||||||
Gates Industrial Corp. PLC(1) | 5,340,000 | 57,725,400 | ||||||
Graham Corp.(2) | 730,505 | 5,055,095 | ||||||
Luxfer Holdings PLC | 750,000 | 11,340,000 | ||||||
Timken Co. | 2,310,000 | 122,545,500 | ||||||
232,322,245 | ||||||||
Media — 0.8% | ||||||||
Entravision Communications Corp., Class A(2) | 7,736,758 | 35,279,616 | ||||||
Townsquare Media, Inc., Class A(1) | 762,925 | 6,248,356 | ||||||
41,527,972 | ||||||||
Oil, Gas and Consumable Fuels — 0.8% | ||||||||
Earthstone Energy, Inc., Class A(1)(3) | 850,000 | 11,602,500 | ||||||
Enviva, Inc.(3) | 555,000 | 31,757,100 | ||||||
43,359,600 | ||||||||
Personal Products — 1.7% | ||||||||
Edgewell Personal Care Co.(2) | 2,653,619 | 91,602,928 | ||||||
Professional Services — 2.3% | ||||||||
Barrett Business Services, Inc.(2) | 395,000 | 28,783,650 | ||||||
Korn Ferry | 1,610,000 | 93,412,200 | ||||||
122,195,850 | ||||||||
Semiconductors and Semiconductor Equipment — 2.4% | ||||||||
Cohu, Inc.(1) | 1,405,000 | 38,988,750 | ||||||
Kulicke & Soffa Industries, Inc.(3) | 2,010,000 | 86,048,100 | ||||||
125,036,850 | ||||||||
Software — 2.2% | ||||||||
Avaya Holdings Corp.(1)(2) | 4,970,000 | 11,132,800 | ||||||
Teradata Corp.(1) | 2,880,000 | 106,588,800 | ||||||
117,721,600 | ||||||||
Specialty Retail — 3.8% | ||||||||
MarineMax, Inc.(1)(2) | 1,490,000 | 53,818,800 | ||||||
OneWater Marine, Inc., Class A(1)(2) | 1,365,000 | 45,113,250 | ||||||
Penske Automotive Group, Inc. | 955,000 | 99,978,950 | ||||||
198,911,000 | ||||||||
Textiles, Apparel and Luxury Goods — 1.9% | ||||||||
Tapestry, Inc. | 3,325,000 | 101,479,000 | ||||||
Thrifts and Mortgage Finance — 0.7% | ||||||||
Enact Holdings, Inc.(3) | 465,000 | 9,988,200 | ||||||
Provident Financial Services, Inc. | 1,193,122 | 26,558,896 | ||||||
36,547,096 | ||||||||
Trading Companies and Distributors — 3.2% | ||||||||
Beacon Roofing Supply, Inc.(1) | 1,365,000 | 70,106,400 | ||||||
DXP Enterprises, Inc.(1)(2) | 965,000 | 29,557,950 | ||||||
GMS, Inc.(1) | 1,360,000 | 60,520,000 | ||||||
Karat Packaging, Inc.(1) | 373,624 | 6,374,025 | ||||||
166,558,375 | ||||||||
TOTAL COMMON STOCKS (Cost $5,164,399,346) | 5,223,411,358 | |||||||
SHORT-TERM INVESTMENTS — 1.5% | ||||||||
Money Market Funds — 0.5% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 107,681 | 107,681 | ||||||
State Street Navigator Securities Lending Government Money Market Portfolio(4) | 26,042,526 | 26,042,526 | ||||||
26,150,207 | ||||||||
Repurchase Agreements — 1.0% | ||||||||
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.125% - 4.25%, 5/15/23 - 11/15/43, valued at $7,233,846), in a joint trading account at 1.43%, dated 6/30/22, due 7/1/22 (Delivery value $7,064,494) | 7,064,214 | |||||||
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.25%, 3/31/28, valued at $43,322,537), at 1.44%, dated 6/30/22, due 7/1/22 (Delivery value $42,474,699) | 42,473,000 | |||||||
49,537,214 | ||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $75,687,421) | 75,687,421 | |||||||
TOTAL INVESTMENT SECURITIES — 100.6% (Cost $5,240,086,767) | 5,299,098,779 | |||||||
OTHER ASSETS AND LIABILITIES — (0.6)% | (30,004,517) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 5,269,094,262 |
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS | ||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
USD | 33,841,915 | SEK | 343,546,200 | UBS AG | 9/30/22 | $ | 134,524 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
SEK | - | Swedish Krona | ||||||
USD | - | United States Dollar |
(1)Non-income producing.
(2)Affiliated Company: the fund’s holding represents ownership of 5% or more of the voting securities of the company; therefore, the company is affiliated as defined in the Investment Company Act of 1940.
(3)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $38,759,551. 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.
(4)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $39,948,433, which includes securities collateral of $13,905,907.
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. 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. 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.
Fixed income securities are valued at the evaluated bid as provided by independent pricing services or at the most recent bid as provided by investment dealers. 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.
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 | 5,183,472,350 | 39,939,008 | — | ||||||||
Short-Term Investments | 26,150,207 | 49,537,214 | — | ||||||||
5,209,622,557 | 89,476,222 | — | |||||||||
Other Financial Instruments | |||||||||||
Forward Foreign Currency Exchange Contracts | — | 134,524 | — |
3. Affiliated Company Transactions
If a fund's holding represents ownership of 5% or more of the voting securities of a company, the company is affiliated as defined in the 1940 Act. A summary of transactions for each company which is or was an affiliate at or during the period ended June 30, 2022 follows (amounts in thousands):
Company | Beginning Value | Purchase Cost | Sales Cost | Change in Net Unrealized Appreciation (Depreciation) | Ending Value | Ending Shares | Net Realized Gain (Loss) | Income | ||||||||||||||||||
Avaya Holdings Corp.(1) | $ | 62,279 | $ | 532 | $ | 3,027 | $ | (48,651) | $ | 11,133 | 4,970 | $ | (1,850) | — | ||||||||||||
Barrett Business Services, Inc. | 31,702 | — | 1,100 | (1,818) | 28,784 | 395 | (51) | $ | 119 | |||||||||||||||||
CECO Environmental Corp.(1) | 9,663 | — | — | 862 | 10,525 | 1,760 | — | — | ||||||||||||||||||
Charah Solutions, Inc.(1)(2) | 9,610 | — | — | (2,407) | 7,203 | 1,926 | — | — | ||||||||||||||||||
Compass Diversified Holdings(2) | 116,958 | — | 8,575 | (9,403) | 98,980 | 4,621 | (1,235) | 1,194 | ||||||||||||||||||
Deluxe Corp. | 69,178 | — | 2,218 | (18,419) | 48,541 | 2,240 | (801) | 672 | ||||||||||||||||||
Donnelley Financial Solutions, Inc.(1) | 59,853 | — | 1,712 | (7,176) | 50,965 | 1,740 | 158 | — | ||||||||||||||||||
DXP Enterprises, Inc.(1) | 31,921 | 1,187 | 7,498 | 3,948 | 29,558 | 965 | 491 | — | ||||||||||||||||||
Edgewell Personal Care Co. | 96,182 | 4,363 | 3,930 | (5,012) | 91,603 | 2,654 | (444) | 384 | ||||||||||||||||||
Entravision Communications Corp., Class A | 50,343 | — | 809 | (14,254) | 35,280 | 7,737 | (145) | 193 | ||||||||||||||||||
Graham Corp. | 5,632 | — | — | (577) | 5,055 | 731 | — | — | ||||||||||||||||||
MarineMax, Inc.(1) | 63,120 | 606 | 4,807 | (5,100) | 53,819 | 1,490 | (854) | — | ||||||||||||||||||
OneWater Marine, Inc., Class A(1) | 48,067 | — | 1,521 | (1,433) | 45,113 | 1,365 | (489) | — | ||||||||||||||||||
Red Robin Gourmet Burgers, Inc.(1) | 25,852 | — | — | (13,540) | 12,312 | 1,533 | — | — | ||||||||||||||||||
Tecnoglass, Inc. | 55,873 | 4,885 | 978 | (17,660) | 42,120 | 2,400 | 74 | 156 | ||||||||||||||||||
$ | 736,233 | $ | 11,573 | $ | 36,175 | $ | (140,640) | $ | 570,991 | 36,527 | $ | (5,146) | $ | 2,718 |
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan.
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.