American Century Investments®
Quarterly Portfolio Holdings
Disciplined Core Value Fund
September 30, 2021
Disciplined Core Value - Schedule of Investments | ||
SEPTEMBER 30, 2021 (UNAUDITED) |
Shares/ Principal Amount ($) | Value ($) | |||||||
COMMON STOCKS — 98.4% | ||||||||
Aerospace and Defense — 0.3% | ||||||||
Huntington Ingalls Industries, Inc. | 44,899 | 8,668,201 | ||||||
Air Freight and Logistics — 1.2% | ||||||||
Atlas Air Worldwide Holdings, Inc.(1) | 124,116 | 10,137,795 | ||||||
FedEx Corp. | 108,129 | 23,711,608 | ||||||
33,849,403 | ||||||||
Automobiles — 0.9% | ||||||||
Ford Motor Co.(1) | 1,841,380 | 26,073,941 | ||||||
Banks — 9.8% | ||||||||
Bank of America Corp. | 1,116,847 | 47,410,155 | ||||||
Bank of Nova Scotia (The) | 240,189 | 14,783,779 | ||||||
Canadian Imperial Bank of Commerce | 127,690 | 14,214,661 | ||||||
Citigroup, Inc. | 446,529 | 31,337,405 | ||||||
Comerica, Inc. | 189,428 | 15,248,954 | ||||||
East West Bancorp, Inc. | 197,589 | 15,321,051 | ||||||
First Horizon Corp. | 778,142 | 12,675,933 | ||||||
JPMorgan Chase & Co. | 502,156 | 82,197,916 | ||||||
Wells Fargo & Co. | 434,930 | 20,185,102 | ||||||
Western Alliance Bancorp | 144,161 | 15,687,600 | ||||||
Zions Bancorp N.A. | 246,618 | 15,263,188 | ||||||
284,325,744 | ||||||||
Beverages — 0.2% | ||||||||
Molson Coors Beverage Co., Class B | 99,103 | 4,596,397 | ||||||
Biotechnology — 3.6% | ||||||||
AbbVie, Inc. | 401,074 | 43,263,852 | ||||||
Exelixis, Inc.(1) | 199,650 | 4,220,601 | ||||||
Horizon Therapeutics plc(1) | 179,359 | 19,646,985 | ||||||
Moderna, Inc.(1) | 18,250 | 7,023,695 | ||||||
Regeneron Pharmaceuticals, Inc.(1) | 35,983 | 21,776,192 | ||||||
Vertex Pharmaceuticals, Inc.(1) | 45,673 | 8,284,626 | ||||||
104,215,951 | ||||||||
Building Products — 2.1% | ||||||||
Carlisle Cos., Inc. | 105,408 | 20,954,056 | ||||||
Carrier Global Corp. | 342,139 | 17,709,115 | ||||||
Owens Corning | 248,845 | 21,276,248 | ||||||
59,939,419 | ||||||||
Capital Markets — 4.9% | ||||||||
Affiliated Managers Group, Inc. | 20,612 | 3,114,267 | ||||||
Blackstone, Inc. | 200,133 | 23,283,473 | ||||||
Cboe Global Markets, Inc. | 202,238 | 25,049,199 | ||||||
Goldman Sachs Group, Inc. (The) | 60,467 | 22,858,340 | ||||||
Janus Henderson Group plc | 182,818 | 7,555,868 | ||||||
Jefferies Financial Group, Inc. | 417,283 | 15,493,718 | ||||||
Morgan Stanley | 253,109 | 24,630,037 | ||||||
T. Rowe Price Group, Inc. | 73,453 | 14,448,205 | ||||||
Virtu Financial, Inc., Class A | 186,575 | 4,558,027 | ||||||
140,991,134 | ||||||||
Chemicals — 2.1% | ||||||||
Axalta Coating Systems Ltd.(1) | 295,829 | 8,635,249 |
Celanese Corp. | 140,186 | 21,117,619 | ||||||
Chemours Co. (The) | 497,037 | 14,443,895 | ||||||
Olin Corp. | 326,270 | 15,742,527 | ||||||
59,939,290 | ||||||||
Commercial Services and Supplies — 1.5% | ||||||||
Clean Harbors, Inc.(1) | 134,588 | 13,979,656 | ||||||
Waste Management, Inc. | 199,176 | 29,748,927 | ||||||
43,728,583 | ||||||||
Communications Equipment — 0.8% | ||||||||
Nokia Oyj(1) | 4,037,685 | 22,269,063 | ||||||
Construction and Engineering — 1.8% | ||||||||
EMCOR Group, Inc. | 163,232 | 18,833,708 | ||||||
MasTec, Inc.(1) | 129,729 | 11,193,018 | ||||||
Quanta Services, Inc. | 199,208 | 22,673,855 | ||||||
52,700,581 | ||||||||
Consumer Finance — 0.9% | ||||||||
OneMain Holdings, Inc. | 275,124 | 15,222,611 | ||||||
Synchrony Financial | 250,238 | 12,231,633 | ||||||
27,454,244 | ||||||||
Containers and Packaging — 1.1% | ||||||||
Berry Global Group, Inc.(1) | 168,867 | 10,280,623 | ||||||
Greif, Inc., Class A | 67,269 | 4,345,577 | ||||||
WestRock Co. | 361,635 | 18,020,272 | ||||||
32,646,472 | ||||||||
Distributors — 0.4% | ||||||||
LKQ Corp.(1) | 230,422 | 11,594,835 | ||||||
Diversified Consumer Services — 0.5% | ||||||||
H&R Block, Inc. | 596,154 | 14,903,850 | ||||||
Diversified Financial Services — 1.4% | ||||||||
Berkshire Hathaway, Inc., Class B(1) | 151,732 | 41,413,732 | ||||||
Diversified Telecommunication Services — 1.2% | ||||||||
Liberty Global plc, Class C(1) | 543,239 | 16,003,821 | ||||||
Lumen Technologies, Inc. | 1,604,229 | 19,876,397 | ||||||
35,880,218 | ||||||||
Electric Utilities — 0.8% | ||||||||
NRG Energy, Inc. | 547,745 | 22,364,428 | ||||||
Electrical Equipment — 0.7% | ||||||||
Acuity Brands, Inc. | 60,550 | 10,497,553 | ||||||
Atkore, Inc.(1) | 85,165 | 7,402,542 | ||||||
Regal Beloit Corp. | 21,402 | 3,217,577 | ||||||
21,117,672 | ||||||||
Electronic Equipment, Instruments and Components — 0.6% | ||||||||
Keysight Technologies, Inc.(1) | 99,924 | 16,416,514 | ||||||
Energy Equipment and Services — 0.5% | ||||||||
Schlumberger NV | 519,746 | 15,405,272 | ||||||
Entertainment — 1.8% | ||||||||
Activision Blizzard, Inc. | 185,574 | 14,361,572 | ||||||
Electronic Arts, Inc. | 173,735 | 24,713,804 | ||||||
Walt Disney Co. (The)(1) | 71,190 | 12,043,212 | ||||||
51,118,588 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 2.1% | ||||||||
ProLogis, Inc. | 293,734 | 36,843,056 | ||||||
Simon Property Group, Inc. | 175,023 | 22,747,739 | ||||||
59,590,795 | ||||||||
Food and Staples Retailing — 3.4% | ||||||||
Costco Wholesale Corp. | 35,271 | 15,849,024 | ||||||
Kroger Co. (The) | 720,324 | 29,122,699 | ||||||
Sprouts Farmers Market, Inc.(1) | 499,896 | 11,582,590 | ||||||
Walgreens Boots Alliance, Inc. | 445,489 | 20,960,258 | ||||||
Walmart, Inc. | 160,858 | 22,420,388 | ||||||
99,934,959 | ||||||||
Food Products — 1.0% | ||||||||
Darling Ingredients, Inc.(1) | 159,167 | 11,444,107 | ||||||
Tyson Foods, Inc., Class A | 231,921 | 18,307,844 | ||||||
29,751,951 | ||||||||
Gas Utilities — 0.1% | ||||||||
UGI Corp. | 87,228 | 3,717,657 | ||||||
Health Care Equipment and Supplies — 1.9% | ||||||||
Abbott Laboratories | 170,052 | 20,088,243 | ||||||
Edwards Lifesciences Corp.(1) | 63,224 | 7,157,589 | ||||||
Hologic, Inc.(1) | 127,612 | 9,419,042 | ||||||
Stryker Corp. | 64,901 | 17,115,691 | ||||||
53,780,565 | ||||||||
Health Care Providers and Services — 6.7% | ||||||||
AMN Healthcare Services, Inc.(1) | 160,404 | 18,406,359 | ||||||
Anthem, Inc. | 55,741 | 20,780,245 | ||||||
HCA Healthcare, Inc. | 192,876 | 46,814,863 | ||||||
Henry Schein, Inc.(1) | 210,376 | 16,022,236 | ||||||
Laboratory Corp. of America Holdings(1) | 50,845 | 14,309,817 | ||||||
McKesson Corp. | 211,878 | 42,244,235 | ||||||
UnitedHealth Group, Inc. | 88,185 | 34,457,407 | ||||||
193,035,162 | ||||||||
Hotels, Restaurants and Leisure — 1.4% | ||||||||
Bloomin' Brands, Inc.(1) | 494,268 | 12,356,700 | ||||||
Brinker International, Inc.(1) | 119,477 | 5,860,347 | ||||||
Yum! Brands, Inc. | 180,785 | 22,111,813 | ||||||
40,328,860 | ||||||||
Household Durables — 0.4% | ||||||||
Garmin Ltd. | 69,792 | 10,849,864 | ||||||
Household Products — 1.2% | ||||||||
Kimberly-Clark Corp. | 220,383 | 29,187,525 | ||||||
Procter & Gamble Co. (The) | 35,903 | 5,019,239 | ||||||
34,206,764 | ||||||||
Industrial Conglomerates — 1.5% | ||||||||
3M Co. | 185,926 | 32,615,139 | ||||||
Honeywell International, Inc. | 52,693 | 11,185,670 | ||||||
43,800,809 | ||||||||
Insurance — 1.2% | ||||||||
Allstate Corp. (The) | 136,336 | 17,356,936 | ||||||
Hartford Financial Services Group, Inc. (The) | 256,704 | 18,033,456 | ||||||
35,390,392 | ||||||||
Interactive Media and Services — 1.9% | ||||||||
Alphabet, Inc., Class A(1) | 6,985 | 18,674,537 | ||||||
Alphabet, Inc., Class C(1) | 13,338 | 35,549,905 | ||||||
54,224,442 | ||||||||
IT Services — 2.6% | ||||||||
Accenture plc, Class A | 62,286 | 19,926,537 | ||||||
Cognizant Technology Solutions Corp., Class A | 397,542 | 29,501,592 | ||||||
International Business Machines Corp. | 197,149 | 27,389,911 | ||||||
76,818,040 | ||||||||
Life Sciences Tools and Services — 2.5% | ||||||||
Agilent Technologies, Inc. | 153,744 | 24,219,292 | ||||||
Charles River Laboratories International, Inc.(1) | 62,208 | 25,671,375 | ||||||
PerkinElmer, Inc. | 98,195 | 17,016,212 | ||||||
Thermo Fisher Scientific, Inc. | 9,264 | 5,292,801 | ||||||
72,199,680 | ||||||||
Machinery — 2.3% | ||||||||
AGCO Corp. | 248,617 | 30,463,041 | ||||||
Allison Transmission Holdings, Inc. | 367,457 | 12,978,581 | ||||||
Cummins, Inc. | 49,844 | 11,192,969 | ||||||
Snap-on, Inc. | 64,980 | 13,577,571 | ||||||
68,212,162 | ||||||||
Media — 1.8% | ||||||||
Comcast Corp., Class A | 614,002 | 34,341,132 | ||||||
Interpublic Group of Cos., Inc. (The) | 456,741 | 16,748,692 | ||||||
51,089,824 | ||||||||
Metals and Mining — 1.1% | ||||||||
Nucor Corp. | 245,175 | 24,147,286 | ||||||
Steel Dynamics, Inc. | 109,845 | 6,423,735 | ||||||
30,571,021 | ||||||||
Multi-Utilities — 0.6% | ||||||||
Brookfield Infrastructure Partners LP | 301,379 | 16,910,376 | ||||||
Multiline Retail — 0.7% | ||||||||
Target Corp. | 87,083 | 19,921,978 | ||||||
Oil, Gas and Consumable Fuels — 4.7% | ||||||||
APA Corp. | 541,058 | 11,594,873 | ||||||
Cabot Oil & Gas Corp. | 297,784 | 6,479,780 | ||||||
Chevron Corp. | 142,641 | 14,470,929 | ||||||
ConocoPhillips | 317,891 | 21,543,473 | ||||||
Diamondback Energy, Inc. | 117,124 | 11,088,129 | ||||||
Marathon Petroleum Corp. | 362,398 | 22,399,820 | ||||||
Ovintiv, Inc. | 669,434 | 22,010,990 | ||||||
Targa Resources Corp. | 276,531 | 13,608,091 | ||||||
Williams Cos., Inc. (The) | 555,288 | 14,404,171 | ||||||
137,600,256 | ||||||||
Paper and Forest Products — 0.4% | ||||||||
Louisiana-Pacific Corp. | 175,934 | 10,797,070 | ||||||
Personal Products — 0.6% | ||||||||
Unilever plc | 298,784 | 16,175,666 | ||||||
Pharmaceuticals — 2.6% | ||||||||
Bristol-Myers Squibb Co. | 344,972 | 20,411,993 | ||||||
Jazz Pharmaceuticals plc(1) | 57,941 | 7,544,498 | ||||||
Johnson & Johnson | 52,692 | 8,509,758 | ||||||
Pfizer, Inc. | 502,627 | 21,617,987 | ||||||
Roche Holding AG | 45,453 | 16,588,970 | ||||||
74,673,206 | ||||||||
Professional Services — 0.7% | ||||||||
Leidos Holdings, Inc. | 220,978 | 21,242,615 | ||||||
Real Estate Management and Development — 0.5% | ||||||||
CBRE Group, Inc., Class A(1) | 81,584 | 7,943,018 | ||||||
Jones Lang LaSalle, Inc.(1) | 24,861 | 6,167,766 | ||||||
14,110,784 | ||||||||
Road and Rail — 1.4% | ||||||||
Knight-Swift Transportation Holdings, Inc. | 169,512 | 8,670,539 |
Landstar System, Inc. | 112,734 | 17,791,680 | ||||||
Ryder System, Inc. | 180,875 | 14,960,171 | ||||||
41,422,390 | ||||||||
Semiconductors and Semiconductor Equipment — 3.3% | ||||||||
Broadcom, Inc. | 60,805 | 29,486,169 | ||||||
NXP Semiconductors NV | 94,527 | 18,515,003 | ||||||
QUALCOMM, Inc. | 108,941 | 14,051,210 | ||||||
Synaptics, Inc.(1) | 63,327 | 11,381,762 | ||||||
United Microelectronics Corp., ADR | 1,825,919 | 20,870,254 | ||||||
94,304,398 | ||||||||
Software — 4.1% | ||||||||
Microsoft Corp. | 144,105 | 40,626,082 | ||||||
Oracle Corp. (New York) | 296,061 | 25,795,795 | ||||||
Palo Alto Networks, Inc.(1) | 32,925 | 15,771,075 | ||||||
salesforce.com, Inc.(1) | 83,258 | 22,581,235 | ||||||
Synopsys, Inc.(1) | 45,376 | 13,586,028 | ||||||
118,360,215 | ||||||||
Specialty Retail — 2.8% | ||||||||
AutoNation, Inc.(1) | 105,682 | 12,867,840 | ||||||
Best Buy Co., Inc. | 162,439 | 17,171,427 | ||||||
Dick's Sporting Goods, Inc. | 117,652 | 14,091,180 | ||||||
Lowe's Cos., Inc. | 69,808 | 14,161,251 | ||||||
Penske Automotive Group, Inc. | 113,483 | 11,416,390 | ||||||
Williams-Sonoma, Inc. | 71,374 | 12,656,751 | ||||||
82,364,839 | ||||||||
Technology Hardware, Storage and Peripherals — 2.5% | ||||||||
Apple, Inc. | 202,152 | 28,604,508 | ||||||
Dell Technologies, Inc., Class C(1) | 88,583 | 9,216,175 | ||||||
HP, Inc. | 522,311 | 14,290,429 | ||||||
Seagate Technology Holdings plc | 233,978 | 19,307,865 | ||||||
71,418,977 | ||||||||
Textiles, Apparel and Luxury Goods — 0.3% | ||||||||
Hanesbrands, Inc. | 595,526 | 10,219,226 | ||||||
Thrifts and Mortgage Finance — 0.3% | ||||||||
Radian Group, Inc. | 443,785 | 10,082,795 | ||||||
Trading Companies and Distributors — 0.2% | ||||||||
Boise Cascade Co. | 137,036 | 7,397,203 | ||||||
Wireless Telecommunication Services — 0.5% | ||||||||
Vodafone Group plc | 9,225,080 | 14,037,729 | ||||||
TOTAL COMMON STOCKS (Cost $2,656,691,163) | 2,850,156,202 | |||||||
EXCHANGE-TRADED FUNDS — 1.0% | ||||||||
iShares Russell 1000 Value ETF (Cost $27,836,352) | 186,948 | 29,259,232 | ||||||
TEMPORARY CASH INVESTMENTS — 1.5% | ||||||||
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.125%, 5/15/23, valued at $7,957,777), in a joint trading account at 0.02%, dated 9/30/21, due 10/1/21 (Delivery value $7,799,254) | 7,799,250 | |||||||
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.375% - 3.375%, 2/15/44 - 11/15/48, valued at $26,524,152), at 0.01%, dated 9/30/21, due 10/1/21 (Delivery value $26,004,007) | 26,004,000 | |||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 9,071,476 | 9,071,476 | ||||||
TOTAL TEMPORARY CASH INVESTMENTS (Cost $42,874,726) | 42,874,726 | |||||||
TOTAL INVESTMENT SECURITIES — 100.9% (Cost $2,727,402,241) | 2,922,290,160 | |||||||
OTHER ASSETS AND LIABILITIES — (0.9)% | (26,229,444) | |||||||
TOTAL NET ASSETS — 100.0% | $ | 2,896,060,716 |
FUTURES CONTRACTS PURCHASED | ||||||||||||||
Reference Entity | Contracts | Expiration Date | Notional Amount | Unrealized Appreciation (Depreciation)^ | ||||||||||
S&P 500 E-Mini | 9 | December 2021 | $ | 1,933,988 | $ | (68,608) |
^Amount represents value and unrealized appreciation (depreciation).
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
ADR | - | American Depositary Receipt |
(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. 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.
Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
If the 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 | 2,752,086,334 | 98,069,868 | — | ||||||||
Exchange-Traded Funds | 29,259,232 | — | — | ||||||||
Temporary Cash Investments | 9,071,476 | 33,803,250 | — | ||||||||
2,790,417,042 | 131,873,118 | — | |||||||||
Liabilities | |||||||||||
Other Financial Instruments | |||||||||||
Futures Contracts | 68,608 | — | — |
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.