n-q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number		811-07820



AMERICAN CENTURY CAPITAL PORTFOLIOS, INC.
(Exact name of registrant as specified in charter)


4500 MAIN STREET, KANSAS CITY, MISSOURI				64111
(Address of principal executive offices)				(Zip Code)


CHARLES A. ETHERINGTON, 4500 MAIN STREET KANSAS CITY, MISSOURI 64111
(Name and address of agent for service)


Registrant’s telephone number, including area code:			816-531-5575


Date of fiscal year end:	03-31


Date of reporting period:	12-31-2009

ITEM 1. SCHEDULE OF INVESTMENTS.

American Century Investments®

Quarterly Portfolio Holdings

Mid Cap Value Fund

December 31, 2009

Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 98.5%
AEROSPACE & DEFENSE ― 0.7%
	Northrop Grumman Corp.	65,300	$ 3,647,005
AIRLINES ― 0.3%
	Southwest Airlines Co.	139,303	1,592,233
BEVERAGES ― 0.6%
	Coca-Cola Enterprises, Inc.	87,000	1,844,400
	Pepsi Bottling Group, Inc.	36,300	1,361,250
			3,205,650
BIOTECHNOLOGY ― 0.3%
	Talecris Biotherapeutics Holdings Corp.(1)	58,129	1,294,533
CAPITAL MARKETS ― 4.6%
	AllianceBernstein Holding LP	113,100	3,178,110
	Ameriprise Financial, Inc.	57,301	2,224,425
	Northern Trust Corp.	290,200	15,206,480
	State Street Corp.	58,100	2,529,674
			23,138,689
CHEMICALS ― 0.8%
	International Flavors & Fragrances, Inc.	35,439	1,457,960
	Minerals Technologies, Inc.	47,601	2,592,827
			4,050,787
COMMERCIAL BANKS ― 1.6%
	City National Corp.	49,000	2,234,400
	Commerce Bancshares, Inc.	154,649	5,988,009
			8,222,409
COMMERCIAL SERVICES & SUPPLIES ― 6.1%
	IESI-BFC Ltd.	270,488	4,333,218
	Pitney Bowes, Inc.	335,200	7,629,152
	Republic Services, Inc.	288,598	8,170,209
	Waste Management, Inc.	312,644	10,570,494
			30,703,073
COMMUNICATIONS EQUIPMENT ― 0.8%
	Emulex Corp.(1)	370,000	4,033,000
COMPUTERS & PERIPHERALS ― 0.9%
	Diebold, Inc.	160,351	4,561,986
CONSTRUCTION MATERIALS ― 0.7%
	Vulcan Materials Co.	64,000	3,370,880
CONTAINERS & PACKAGING ― 1.5%
	Bemis Co., Inc.	174,668	5,178,906
	Sonoco Products Co.	88,400	2,585,700
			7,764,606
DISTRIBUTORS ― 1.5%
	Genuine Parts Co.	197,294	7,489,280
DIVERSIFIED ― 2.6%
	iShares Russell Midcap Value Index Fund	358,900	13,272,122
DIVERSIFIED TELECOMMUNICATION SERVICES ― 3.1%
	BCE, Inc.	205,027	5,685,120
	CenturyTel, Inc.	212,153	7,682,060
	Iowa Telecommunications Services, Inc.	145,489	2,438,396
			15,805,576

Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

ELECTRIC UTILITIES ― 5.0%
	American Electric Power Co., Inc.	24,955	$ 868,184
	Great Plains Energy, Inc.	27,259	528,552
	IDACORP, Inc.	252,468	8,066,353
	Northeast Utilities	148,283	3,824,219
	Portland General Electric Co.	208,136	4,248,056
	Westar Energy, Inc.	369,541	8,026,430
			25,561,794
ELECTRICAL EQUIPMENT ― 1.6%
	Emerson Electric Co.	59,800	2,547,480
	Hubbell, Inc., Class B	110,650	5,233,745
	Woodward Governor Co.	11,800	304,086
			8,085,311
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 1.3%
	AVX Corp.	67,501	855,238
	Molex, Inc.	257,484	5,548,780
			6,404,018
ENERGY EQUIPMENT & SERVICES ― 0.9%
	Baker Hughes, Inc.	38,600	1,562,528
	BJ Services Co.	125,900	2,341,740
	Helmerich & Payne, Inc.	22,600	901,288
			4,805,556
FOOD PRODUCTS ― 7.5%
	Campbell Soup Co.	228,600	7,726,680
	ConAgra Foods, Inc.	455,890	10,508,264
	H.J. Heinz Co.	210,600	9,005,256
	Hershey Co. (The)	76,800	2,748,672
	Kellogg Co.	46,900	2,495,080
	Kraft Foods, Inc., Class A	206,100	5,601,798
			38,085,750
GAS UTILITIES ― 0.9%
	Southwest Gas Corp.	167,943	4,791,414
HEALTH CARE EQUIPMENT & SUPPLIES ― 3.1%
	Beckman Coulter, Inc.	60,256	3,943,153
	Boston Scientific Corp.(1)	351,300	3,161,700
	CareFusion Corp.(1)	51,300	1,283,013
	Covidien plc	21,100	1,010,479
	Symmetry Medical, Inc.(1)	482,471	3,888,716
	Zimmer Holdings, Inc.(1)	43,500	2,571,285
			15,858,346
HEALTH CARE PROVIDERS & SERVICES ― 2.7%
	Cardinal Health, Inc.	84,700	2,730,728
	LifePoint Hospitals, Inc.(1)	180,300	5,861,553
	Patterson Cos., Inc.(1)	95,100	2,660,898
	Select Medical Holdings Corp.(1)	204,378	2,170,494
			13,423,673
HEALTH CARE TECHNOLOGY ― 0.2%
	IMS Health, Inc.	50,800	1,069,848
HOTELS, RESTAURANTS & LEISURE ― 3.8%
	CEC Entertainment, Inc.(1)	197,300	6,297,816
	Hyatt Hotels Corp., Class A(1)	56,701	1,690,257
	International Speedway Corp., Class A	223,307	6,353,084

Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Speedway Motorsports, Inc.	284,143	$ 5,006,600
			19,347,757
HOUSEHOLD DURABLES ― 1.5%
	Fortune Brands, Inc.	177,800	7,680,960
HOUSEHOLD PRODUCTS ― 1.7%
	Kimberly-Clark Corp.	131,623	8,385,701
INSURANCE ― 14.3%
	ACE Ltd.(1)	142,000	7,156,800
	Allstate Corp. (The)	213,400	6,410,536
	Aon Corp.	377,600	14,477,184
	Chubb Corp. (The)	233,100	11,463,858
	HCC Insurance Holdings, Inc.	180,032	5,035,495
	Marsh & McLennan Cos., Inc.	816,527	18,028,916
	Transatlantic Holdings, Inc.	66,849	3,483,502
	Travelers Cos., Inc. (The)	128,300	6,397,038
			72,453,329
IT SERVICES ― 0.5%
	Automatic Data Processing, Inc.	59,300	2,539,226
LEISURE EQUIPMENT & PRODUCTS ― 0.4%
	Mattel, Inc.	98,700	1,972,026
MACHINERY ― 3.3%
	Altra Holdings, Inc.(1)	463,432	5,723,385
	Dover Corp.	49,400	2,055,534
	Kaydon Corp.	214,756	7,679,675
	Robbins & Myers, Inc.	52,700	1,239,504
			16,698,098
METALS & MINING ― 0.6%
	Newmont Mining Corp.	66,238	3,133,720
MULTILINE RETAIL ― 1.1%
	Family Dollar Stores, Inc.	109,600	3,050,168
	Target Corp.	53,300	2,578,121
			5,628,289
MULTI-UTILITIES ― 3.9%
	Ameren Corp.	42,703	1,193,549
	PG&E Corp.	43,500	1,942,275
	Wisconsin Energy Corp.	239,900	11,954,217
	Xcel Energy, Inc.	214,959	4,561,430
			19,651,471
OIL, GAS & CONSUMABLE FUELS ― 7.1%
	Apache Corp.	29,451	3,038,459
	EOG Resources, Inc.	26,100	2,539,530
	EQT Corp.	148,052	6,502,444
	Imperial Oil Ltd.	354,300	13,774,287
	Murphy Oil Corp.	75,300	4,081,260
	Noble Energy, Inc.	82,400	5,868,528
			35,804,508
PAPER & FOREST PRODUCTS ― 0.5%
	Weyerhaeuser Co.	53,236	2,296,601
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 2.3%
	Boston Properties, Inc.	41,999	2,816,873
	Government Properties Income Trust	168,261	3,866,638

Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Host Hotels & Resorts, Inc.(1)	417,269	$ 4,869,529
			11,553,040
ROAD & RAIL ― 0.3%
	Heartland Express, Inc.	99,400	1,517,838
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 1.8%
	Applied Materials, Inc.	379,100	5,284,654
	KLA-Tencor Corp.	15,300	553,248
	Verigy Ltd.(1)	255,200	3,284,424
			9,122,326
SOFTWARE ― 0.9%
	Cadence Design Systems, Inc.(1)	470,200	2,816,498
	Synopsys, Inc.(1)	68,400	1,523,952
			4,340,450
SPECIALTY RETAIL ― 3.1%
	Lowe's Cos., Inc.	459,500	10,747,705
	PetSmart, Inc.	179,100	4,780,179
			15,527,884
THRIFTS & MORTGAGE FINANCE ― 2.1%
	Hudson City Bancorp., Inc.	258,500	3,549,205
	Northwest Bancshares, Inc.	152,960	1,731,505
	People's United Financial, Inc.	314,889	5,258,646
			10,539,356
TOTAL COMMON STOCKS
	(Cost $431,485,662)		498,430,119
TEMPORARY CASH INVESTMENTS — 2.1%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares		25,694	25,694

Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $10,664,093), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $10,500,012)			10,500,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $10,525,694)		10,525,694
TOTAL INVESTMENT SECURITIES — 100.6%
	(Cost $442,011,356)		508,955,813
OTHER ASSETS AND LIABILITIES — (0.6)%			(2,914,889)
TOTAL NET ASSETS — 100.0%			$506,040,924

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

Contracts to Sell		Settlement Date	Value	Unrealized Gain (Loss)
22,483,074	CAD for USD	1/29/10	$21,497,418	$164,246
(Value on Settlement Date $21,661,664)

Notes to Schedule of Investments
	CAD	-	Canadian Dollar
	USD	-	United States Dollar

(1)	Non-income producing.

Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

Securities traded primarily on a principal securities exchange are valued at the last reported sales price, or at the mean of the latest bid and asked prices where no last sales price is available. Depending on local convention or regulation, securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official close price. Investments in open-end management investment companies are valued at the reported net asset value. Debt securities not traded on a principal securities exchange are valued through a commercial pricing service or at the mean of the most recent bid and asked prices. Discount notes may be valued through a commercial pricing service or at amortized cost, which approximates fair value. Securities traded on foreign securities exchanges and over-the-counter markets are normally completed before the close of business on days that the New York Stock Exchange (the Exchange) is open and may also take place on days when the Exchange is not open. If an event occurs after the value of a security was established but before the net asset value per share was determined that was likely to materially change the net asset value, that security would be valued as determined in accordance with procedures adopted by the Board of Directors. If the fund determines that the market price of a portfolio security is not readily available, or that the valuation methods mentioned above do not reflect the security’s fair value, such security is valued as determined by the Board of Directors or its designee, in accordance with procedures adopted by the Board of Directors, if such determination would materially impact a fund’s net asset value. Certain other circumstances may cause the fund to use alternative procedures to value a security such as: a security has been declared in default; trading in a security has been halted during the trading day; or there is a foreign market holiday and no trading will commence.

2. Fair Value Measurements

The fund’s securities valuation process is based on several considerations and may use multiple inputs to determine the fair value of the positions 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 as follows:

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest rates,

prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (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 an indication of the risks associated with investing in these securities or other financial instruments.

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Domestic Common Stocks	$463,185,791	–	–
Foreign Common Stocks	15,784,921	$19,459,407	–
Temporary Cash Investments	25,694	10,500,000	–
Total Value of Investment Securities	$478,996,406	$29,959,407	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Forward Foreign Currency Exchange Contracts	–	$164,246	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$468,226,885
Gross tax appreciation of investments	$46,696,343
Gross tax depreciation of investments	(5,967,415)
Net tax appreciation (depreciation) of investments	$40,728,928

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

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.

American Century Investments®

Quarterly Portfolio Holdings

Small Cap Value Fund

December 31, 2009

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS ― 92.8%
AEROSPACE & DEFENSE ― 2.0%
	AAR Corp.(1)	125,000	$ 2,872,500
	Ceradyne, Inc.(1)	185,000	3,553,850
	Curtiss-Wright Corp.	275,000	8,613,000
	Esterline Technologies Corp.(1)	75,000	3,057,750
	Moog, Inc., Class A(1)	265,000	7,745,950
	Orbital Sciences Corp.(1)	175,000	2,670,500
	Triumph Group, Inc.	110,000	5,307,500
			33,821,050
AIR FREIGHT & LOGISTICS ― 0.4%
	Hub Group, Inc., Class A(1)	115,000	3,085,450
	UTi Worldwide, Inc.	310,000	4,439,200
			7,524,650
AIRLINES ― 0.6%
	Alaska Air Group, Inc.(1)	75,000	2,592,000
	Allegiant Travel Co.(1)	55,000	2,594,350
	JetBlue Airways Corp.(1)	500,000	2,725,000
	SkyWest, Inc.	145,000	2,453,400
			10,364,750
AUTO COMPONENTS ― 0.7%
	Cooper Tire & Rubber Co.	194,983	3,909,409
	Dana Holding Corp.(1)	235,000	2,547,400
	Lear Corp.(1)	35,000	2,367,400
	Standard Motor Products, Inc.(1)	285,000	2,428,200
			11,252,409
BEVERAGES ― 0.3%
	Boston Beer Co., Inc., Class A(1)	95,000	4,427,000
BIOTECHNOLOGY ― 0.3%
	Martek Biosciences Corp.(1)	80,000	1,515,200
	Talecris Biotherapeutics Holdings Corp.(1)	195,000	4,342,650
			5,857,850
BUILDING PRODUCTS ― 0.7%
	Apogee Enterprises, Inc.	160,000	2,240,000
	Griffon Corp.(1)	280,000	3,421,600
	Simpson Manufacturing Co., Inc.	210,000	5,646,900
			11,308,500
CAPITAL MARKETS ― 3.1%
	Apollo Investment Corp.	605,000	5,765,650
	Ares Capital Corp.	750,000	9,337,500
	Artio Global Investors, Inc.(1)	190,000	4,843,100
	Calamos Asset Management, Inc., Class A	385,000	4,439,050
	Fifth Street Finance Corp.	245,000	2,631,300
	HFF, Inc., Class A(1)	510,000	3,187,500
	Investment Technology Group, Inc.(1)	170,000	3,349,000
	MCG Capital Corp.(1)	775,000	3,348,000
	PennantPark Investment Corp.	385,000	3,434,200
	Prospect Capital Corp.	420,851	4,970,250
	Pzena Investment Management, Inc., Class A(1)	305,000	2,482,700

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	TradeStation Group, Inc.(1)	525,000	$ 4,142,250
			51,930,500
CHEMICALS ― 3.1%
	A. Schulman, Inc.	155,000	3,127,900
	Arch Chemicals, Inc.	180,000	5,558,400
	Cytec Industries, Inc.	175,000	6,373,500
	Ferro Corp.	465,000	3,831,600
	H.B. Fuller Co.	170,000	3,867,500
	Intrepid Potash, Inc.(1)	200,000	5,834,000
	Kraton Performance Polymers, Inc.(1)	180,000	2,440,800
	Minerals Technologies, Inc.	60,000	3,268,200
	Olin Corp.	275,000	4,818,000
	OM Group, Inc.(1)	100,000	3,139,000
	Sensient Technologies Corp.	160,000	4,208,000
	Solutia, Inc.(1)	405,000	5,143,500
			51,610,400
COMMERCIAL BANKS ― 7.1%
	American National Bankshares, Inc.	145,000	3,175,500
	Associated Banc-Corp.	320,000	3,523,200
	Boston Private Financial Holdings, Inc.	825,000	4,760,250
	Cullen/Frost Bankers, Inc.	65,000	3,250,000
	CVB Financial Corp.	315,000	2,721,600
	East West Bancorp, Inc.	215,000	3,397,000
	First Citizens BancShares, Inc., Class A	15,000	2,460,150
	First Midwest Bancorp., Inc.	225,000	2,450,250
	FirstMerit Corp.	215,000	4,330,100
	FNB Corp.	370,000	2,512,300
	Fulton Financial Corp.	1,000,000	8,720,000
	Hampton Roads Bankshares, Inc.	350,000	605,500
	Heritage Financial Corp.	355,000	4,891,900
	Huntington Bancshares, Inc.	1,125,000	4,106,250
	IBERIABANK Corp.	50,000	2,690,500
	KeyCorp	675,000	3,746,250
	Lakeland Financial Corp.	210,000	3,622,500
	Marshall & Ilsley Corp.	1,425,000	7,766,250
	MB Financial, Inc.	130,000	2,563,600
	National Bankshares, Inc.	110,000	3,111,900
	Old National Bancorp.	340,000	4,226,200
	Pacific Continental Corp.	255,000	2,917,200
	Sterling Bancshares, Inc.	725,000	3,719,250
	TCF Financial Corp.	375,000	5,107,500
	Trustmark Corp.	125,000	2,817,500
	United Bankshares, Inc.	175,000	3,494,750
	Washington Banking Co.	399,968	4,775,618
	Webster Financial Corp.	230,000	2,730,100
	Whitney Holding Corp.	1,150,000	10,476,500
	Wilmington Trust Corp.	250,000	3,085,000
	Zions Bancorp.	190,000	2,437,700
			120,192,318
COMMERCIAL SERVICES & SUPPLIES ― 2.1%
	ABM Industries, Inc.	130,000	2,685,800
	American Ecology Corp.	420,000	7,156,800

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	ATC Technology Corp.(1)	120,000	$ 2,862,000
	Brink's Co. (The)	260,000	6,328,400
	IESI-BFC Ltd.	860,000	13,777,200
	SYKES Enterprises, Inc.(1)	90,000	2,292,300
			35,102,500
COMMUNICATIONS EQUIPMENT ― 1.0%
	Bel Fuse, Inc., Class B	210,000	4,512,900
	Black Box Corp.	80,000	2,267,200
	Emulex Corp.(1)	230,000	2,507,000
	Opnext, Inc.(1)	979,784	1,861,590
	Plantronics, Inc.	75,000	1,948,500
	Polycom, Inc.(1)	180,000	4,494,600
			17,591,790
COMPUTERS & PERIPHERALS ― 0.9%
	Electronics for Imaging, Inc.(1)	390,000	5,073,900
	Lexmark International, Inc., Class A(1)	85,000	2,208,300
	NCR Corp.(1)	425,000	4,730,250
	Novatel Wireless, Inc.(1)	300,000	2,391,000
	Silicon Graphics International Corp.(1)	200,000	1,402,000
			15,805,450
CONSTRUCTION & ENGINEERING ― 1.9%
	Comfort Systems USA, Inc.	270,000	3,331,800
	EMCOR Group, Inc.(1)	205,000	5,514,500
	Granite Construction, Inc.	375,000	12,622,500
	KBR, Inc.	135,000	2,565,000
	KHD Humboldt Wedag International Ltd.(1)	305,000	4,151,050
	Pike Electric Corp.(1)	450,000	4,176,000
			32,360,850
CONSTRUCTION MATERIALS ― 0.2%
	Texas Industries, Inc.	95,000	3,324,050
CONTAINERS & PACKAGING ― 0.7%
	Bemis Co., Inc.	75,000	2,223,750
	Silgan Holdings, Inc.	45,000	2,604,600
	Sonoco Products Co.	215,000	6,288,750
			11,117,100
DISTRIBUTORS ― 0.2%
	Core-Mark Holding Co., Inc.(1)	110,000	3,625,600
DIVERSIFIED ― 2.8%
	iShares Russell 2000 Index Fund	490,000	30,507,400
	iShares Russell 2000 Value Index Fund	280,000	16,251,200
			46,758,600
DIVERSIFIED CONSUMER SERVICES ― 0.9%
	Corinthian Colleges, Inc.(1)	485,000	6,678,450
	Lincoln Educational Services Corp.(1)	270,000	5,850,900
	Regis Corp.	215,000	3,347,550
			15,876,900
DIVERSIFIED TELECOMMUNICATION SERVICES ― 0.2%
	Iowa Telecommunications Services, Inc.	190,000	3,184,400
ELECTRIC UTILITIES ― 2.4%
	Central Vermont Public Service Corp.	195,000	4,056,000
	Cleco Corp.	86,632	2,367,653
	Empire District Electric Co. (The)	100,000	1,873,000

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Great Plains Energy, Inc.	500,000	$ 9,695,000
	IDACORP, Inc.	80,000	2,556,000
	Portland General Electric Co.	590,000	12,041,900
	Unitil Corp.	155,000	3,561,900
	Westar Energy, Inc.	220,000	4,778,400
			40,929,853
ELECTRICAL EQUIPMENT ― 2.0%
	Acuity Brands, Inc.	70,000	2,494,800
	Belden, Inc.	210,000	4,603,200
	Brady Corp., Class A	120,000	3,601,200
	Encore Wire Corp.	195,000	4,108,650
	General Cable Corp.(1)	80,000	2,353,600
	Hubbell, Inc., Class B	55,000	2,601,500
	II-VI, Inc.(1)	125,000	3,975,000
	LSI Industries, Inc.	585,000	4,609,800
	Regal-Beloit Corp.	60,000	3,116,400
	Thomas & Betts Corp.(1)	85,000	3,042,150
			34,506,300
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 3.0%
	Anixter International, Inc.(1)	75,000	3,532,500
	Benchmark Electronics, Inc.(1)	300,000	5,673,000
	Coherent, Inc.(1)	115,000	3,418,950
	Electro Scientific Industries, Inc.(1)	435,000	4,706,700
	Littelfuse, Inc.(1)	70,000	2,250,500
	Methode Electronics, Inc.	325,000	2,821,000
	Molex, Inc.	210,000	4,525,500
	Park Electrochemical Corp.	140,000	3,869,600
	PC Connection, Inc.(1)	461,942	3,118,108
	Rogers Corp.(1)	245,000	7,425,950
	Tech Data Corp.(1)	55,000	2,566,300
	TTM Technologies, Inc.(1)	135,000	1,556,550
	Vishay Intertechnology, Inc.(1)	535,000	4,467,250
			49,931,908
ENERGY EQUIPMENT & SERVICES ― 1.5%
	Bristow Group, Inc.(1)	90,000	3,460,500
	Global Industries Ltd.(1)	350,000	2,495,500
	Helix Energy Solutions Group, Inc.(1)	290,000	3,407,500
	Key Energy Services, Inc.(1)	385,000	3,384,150
	Lufkin Industries, Inc.	35,000	2,562,000
	North American Energy Partners, Inc.(1)	350,000	2,541,000
	Superior Energy Services, Inc.(1)	185,000	4,493,650
	Unit Corp.(1)	75,000	3,187,500
			25,531,800
FOOD & STAPLES RETAILING ― 0.8%
	BJ's Wholesale Club, Inc.(1)	75,000	2,453,250
	Casey's General Stores, Inc.	45,405	1,449,328
	Ruddick Corp.	125,000	3,216,250
	Weis Markets, Inc.	195,000	7,090,200
			14,209,028
FOOD PRODUCTS ― 1.0%
	American Italian Pasta Co., Class A(1)	125,000	4,348,750
	B&G Foods, Inc., Class A	270,000	2,478,600

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Corn Products International, Inc.	55,680	$ 1,627,526
	Farmer Bros. Co.	114,832	2,266,784
	Ralcorp Holdings, Inc.(1)	45,000	2,686,950
	Seneca Foods Corp., Class A(1)	163,179	3,895,083
			17,303,693
GAS UTILITIES ― 1.0%
	Chesapeake Utilities Corp.	75,000	2,403,750
	Nicor, Inc.	135,000	5,683,500
	Southwest Gas Corp.	140,000	3,994,200
	WGL Holdings, Inc.	165,000	5,534,100
			17,615,550
HEALTH CARE EQUIPMENT & SUPPLIES ― 2.3%
	Analogic Corp.	95,000	3,658,450
	CONMED Corp.(1)	105,000	2,394,000
	Cutera, Inc.(1)(2)	815,000	6,935,650
	Utah Medical Products, Inc.(2)	170,000	4,984,400
	Young Innovations, Inc.(2)	675,000	16,726,500
	Zoll Medical Corp.(1)	155,000	4,141,600
			38,840,600
HEALTH CARE PROVIDERS & SERVICES ― 3.2%
	Alliance HealthCare Services, Inc.(1)	935,000	5,338,850
	Almost Family, Inc.(1)	80,000	3,162,400
	AMERIGROUP Corp.(1)	135,000	3,639,600
	Amsurg Corp.(1)	255,000	5,615,100
	Assisted Living Concepts, Inc., Class A(1)	185,000	4,878,450
	Kindred Healthcare, Inc.(1)	190,000	3,507,400
	LifePoint Hospitals, Inc.(1)	120,000	3,901,200
	Magellan Health Services, Inc.(1)	275,000	11,200,750
	National Healthcare Corp.	210,000	7,583,100
	U.S. Physical Therapy, Inc.(1)	320,000	5,417,600
			54,244,450
HOTELS, RESTAURANTS & LEISURE ― 1.5%
	Bally Technologies, Inc.(1)	55,000	2,270,950
	Bob Evans Farms, Inc.	120,000	3,474,000
	Burger King Holdings, Inc.	240,000	4,516,800
	Jack in the Box, Inc.(1)	210,000	4,130,700
	Red Robin Gourmet Burgers, Inc.(1)	430,000	7,697,000
	Ruby Tuesday, Inc.(1)	365,000	2,628,000
			24,717,450
HOUSEHOLD DURABLES ― 0.6%
	CSS Industries, Inc	141,128	2,743,528
	Helen of Troy Ltd.(1)	90,000	2,201,400
	M.D.C. Holdings, Inc.	60,000	1,862,400
	M/I Homes, Inc.(1)	265,000	2,753,350
			9,560,678
HOUSEHOLD PRODUCTS ― 0.2%
	WD-40 Co.	130,000	4,206,800
INDUSTRIAL CONGLOMERATES ― 0.2%
	Tredegar Corp.	170,000	2,689,400
INSURANCE ― 5.2%
	American Equity Investment Life Holding Co.	275,000	2,046,000
	Aspen Insurance Holdings Ltd.	160,000	4,072,000

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Assured Guaranty Ltd.	150,000	$ 3,264,000
	Baldwin & Lyons, Inc., Class B	250,000	6,152,500
	Delphi Financial Group, Inc., Class A	110,000	2,460,700
	Erie Indemnity Co., Class A	320,000	12,486,400
	Hanover Insurance Group, Inc. (The)	125,000	5,553,750
	HCC Insurance Holdings, Inc.	525,000	14,684,250
	Max Capital Group Ltd.	180,000	4,014,000
	Mercer Insurance Group, Inc.(2)	340,000	6,177,800
	Platinum Underwriters Holdings Ltd.	170,000	6,509,300
	ProAssurance Corp.(1)	105,000	5,639,550
	United Fire & Casualty Co.	195,000	3,554,850
	Unitrin, Inc.	165,000	3,638,250
	Validus Holdings Ltd.	145,905	3,930,681
	Zenith National Insurance Corp.	140,000	4,166,400
			88,350,431
INTERNET SOFTWARE & SERVICES ― 0.4%
	IAC/InterActiveCorp(1)	210,000	4,300,800
	RealNetworks, Inc.(1)	675,000	2,504,250
			6,805,050
IT SERVICES ― 0.7%
	CACI International, Inc., Class A(1)	90,000	4,396,500
	Cass Information Systems, Inc.	106,954	3,251,402
	NeuStar, Inc., Class A(1)	95,000	2,188,800
	Total System Services, Inc.	130,000	2,245,100
			12,081,802
LEISURE EQUIPMENT & PRODUCTS ― 0.6%
	JAKKS Pacific, Inc.(1)	220,000	2,666,400
	RC2 Corp.(1)	170,000	2,507,500
	Sport Supply Group, Inc.	325,000	4,091,750
			9,265,650
LIFE SCIENCES TOOLS & SERVICES ― 0.6%
	Pharmaceutical Product Development, Inc.	400,000	9,376,000
MACHINERY ― 3.9%
	Actuant Corp., Class A	330,000	6,114,900
	Barnes Group, Inc.	275,000	4,647,500
	FreightCar America, Inc.	160,000	3,172,800
	IDEX Corp.	80,000	2,492,000
	Kadant, Inc.(1)	150,000	2,394,000
	Kaydon Corp.	65,000	2,324,400
	Kennametal, Inc.	185,000	4,795,200
	Lincoln Electric Holdings, Inc.	105,000	5,613,300
	Mueller Industries, Inc.	495,000	12,295,800
	Mueller Water Products, Inc., Class A	1,375,000	7,150,000
	Pentair, Inc.	100,000	3,230,000
	RBC Bearings, Inc.(1)	175,000	4,257,750
	Robbins & Myers, Inc.	175,000	4,116,000
	Wabtec Corp.	60,000	2,450,400
			65,054,050
MARINE ― 0.5%
	Diana Shipping, Inc.(1)	350,000	5,068,000
	Genco Shipping & Trading Ltd.(1)	130,000	2,909,400
			7,977,400

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

MEDIA ― 3.2%
	Arbitron, Inc.	150,000	$ 3,513,000
	Belo Corp., Class A	650,000	3,536,000
	E.W. Scripps Co. (The), Class A(1)	825,000	5,742,000
	Entercom Communications Corp., Class A(1)	700,000	4,949,000
	Entravision Communications Corp., Class A(1)	2,325,000	7,905,000
	Gannett Co., Inc.	190,000	2,821,500
	Harte-Hanks, Inc.	410,000	4,419,800
	Interactive Data Corp.	115,000	2,909,500
	Journal Communications, Inc., Class A	1,157,461	4,502,523
	LIN TV Corp., Class A(1)	1,012,911	4,517,583
	McClatchy Co. (The), Class A	1,250,000	4,425,000
	Sinclair Broadcast Group, Inc., Class A(1)	625,000	2,518,750
	Value Line, Inc.	100,000	2,511,000
			54,270,656
METALS & MINING ― 2.1%
	Brush Engineered Materials, Inc.(1)	170,000	3,151,800
	Carpenter Technology Corp.	100,000	2,695,000
	Coeur d'Alene Mines Corp.(1)	190,000	3,431,400
	Commercial Metals Co.	235,000	3,677,750
	Globe Specialty Metals, Inc.(1)	265,000	2,491,000
	Haynes International, Inc.	220,000	7,253,400
	Kaiser Aluminum Corp.	55,000	2,289,100
	Mesabi Trust	200,000	2,560,000
	Royal Gold, Inc.	70,000	3,297,000
	RTI International Metals, Inc.(1)	165,000	4,153,050
			34,999,500
MULTILINE RETAIL ― 0.6%
	Big Lots, Inc.(1)	205,000	5,940,900
	Fred's, Inc., Class A	335,000	3,417,000
			9,357,900
MULTI-UTILITIES ― 0.8%
	Avista Corp.	190,000	4,102,100
	Black Hills Corp.	135,000	3,595,050
	MDU Resources Group, Inc.	105,000	2,478,000
	NorthWestern Corp.	120,000	3,122,400
			13,297,550
OFFICE ELECTRONICS ― 0.2%
	Zebra Technologies Corp., Class A(1)	110,000	3,119,600
OIL, GAS & CONSUMABLE FUELS ― 4.2%
	Berry Petroleum Co., Class A	85,000	2,477,750
	Bill Barrett Corp.(1)	185,000	5,755,350
	DHT Maritime, Inc.	1,800,000	6,624,000
	Forest Oil Corp.(1)	425,000	9,456,250
	Frontier Oil Corp.	590,000	7,103,600
	GMX Resources, Inc.(1)	205,000	2,816,700
	Goodrich Petroleum Corp.(1)	115,000	2,800,250
	Mariner Energy, Inc.(1)	660,000	7,662,600
	Nordic American Tanker Shipping	110,000	3,300,000
	Penn Virginia Corp.	205,000	4,364,450
	Rosetta Resources, Inc.(1)	180,000	3,587,400
	St. Mary Land & Exploration Co.	70,000	2,396,800

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	W&T Offshore, Inc.	1,020,000	$ 11,934,000
			70,279,150
PAPER & FOREST PRODUCTS ― 0.4%
	Louisiana-Pacific Corp.(1)	530,000	3,699,400
	P.H. Glatfelter Co.	270,000	3,280,500
			6,979,900
PERSONAL PRODUCTS ― 0.7%
	Inter Parfums, Inc.	407,947	4,964,715
	Prestige Brands Holdings, Inc.(1)	485,000	3,812,100
	Schiff Nutrition International, Inc.	435,000	3,401,700
			12,178,515
PHARMACEUTICALS ― 0.7%
	Biovail Corp.	170,000	2,373,200
	Endo Pharmaceuticals Holdings, Inc.(1)	215,000	4,409,650
	Par Pharmaceutical Cos., Inc.(1)	95,000	2,570,700
	Perrigo Co.	55,000	2,191,200
			11,544,750
PROFESSIONAL SERVICES ― 1.1%
	CDI Corp.	280,000	3,626,000
	Heidrick & Struggles International, Inc.	75,000	2,343,000
	Korn/Ferry International(1)	135,000	2,227,500
	Mistras Group, Inc.(1)	325,000	4,894,500
	MPS Group, Inc.(1)	190,574	2,618,487
	Watson Wyatt Worldwide, Inc., Class A	50,000	2,376,000
			18,085,487
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 3.7%
	Capstead Mortgage Corp.	225,000	3,071,250
	Chimera Investment Corp.	2,500,000	9,700,000
	DCT Industrial Trust, Inc.	875,000	4,392,500
	Getty Realty Corp.	85,000	2,000,050
	Hatteras Financial Corp.	125,000	3,495,000
	Healthcare Realty Trust, Inc.	145,000	3,111,700
	Highwoods Properties, Inc.	225,000	7,503,750
	Inland Real Estate Corp.	280,000	2,282,000
	Medical Properties Trust, Inc.	235,000	2,350,000
	MFA Financial, Inc.	1,075,000	7,901,250
	National Health Investors, Inc.	110,000	4,068,900
	National Retail Properties, Inc.	115,000	2,440,300
	Omega Healthcare Investors, Inc.	190,000	3,695,500
	Senior Housing Properties Trust	115,000	2,515,050
	Urstadt Biddle Properties, Inc., Class A	119,565	1,825,758
	Washington Real Estate Investment Trust	90,000	2,479,500
			62,832,508
ROAD & RAIL ― 0.3%
	Arkansas Best Corp.	80,000	2,354,400
	Old Dominion Freight Line, Inc.(1)	85,000	2,609,500
	Werner Enterprises, Inc.	41,031	812,003
			5,775,903
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 2.4%
	Atheros Communications, Inc.(1)	68,550	2,347,152
	Cohu, Inc.	200,000	2,790,000
	Cymer, Inc.(1)	60,000	2,302,800

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Integrated Device Technology, Inc.(1)	525,000	$ 3,396,750
	Intersil Corp., Class A	305,000	4,678,700
	Mattson Technology, Inc.(1)	1,125,000	4,027,500
	MEMC Electronic Materials, Inc.(1)	250,000	3,405,000
	MKS Instruments, Inc.(1)	135,000	2,350,350
	Rudolph Technologies, Inc.(1)	205,000	1,377,600
	Sigma Designs, Inc.(1)	335,000	3,584,500
	Varian Semiconductor Equipment Associates, Inc.(1)	75,000	2,691,000
	Verigy Ltd.(1)	430,000	5,534,100
	Zoran Corp.(1)	240,000	2,652,000
			41,137,452
SOFTWARE ― 3.6%
	Aspen Technology, Inc.(1)	305,000	2,989,000
	Cadence Design Systems, Inc.(1)	465,000	2,785,350
	Compuware Corp.(1)	460,000	3,325,800
	Lawson Software, Inc.(1)	410,000	2,726,500
	Parametric Technology Corp.(1)	875,000	14,297,500
	Radiant Systems, Inc.(1)	340,000	3,536,000
	S1 Corp.(1)	510,000	3,325,200
	Sybase, Inc.(1)	240,000	10,416,000
	Synopsys, Inc.(1)	115,000	2,562,200
	THQ, Inc.(1)	900,000	4,536,000
	TIBCO Software, Inc.(1)	440,000	4,237,200
	Ulticom, Inc.(2)	547,876	5,262,349
			59,999,099
SPECIALTY RETAIL ― 4.3%
	Aaron's, Inc.	120,000	3,327,600
	Bebe Stores, Inc.	425,000	2,664,750
	Cabela's, Inc.(1)	275,000	3,921,500
	Cato Corp. (The), Class A	135,000	2,708,100
	Children's Place Retail Stores, Inc. (The)(1)	145,000	4,786,450
	Christopher & Banks Corp.	685,509	5,223,578
	Coldwater Creek, Inc.(1)	650,000	2,899,000
	Dress Barn, Inc. (The)(1)	110,000	2,541,000
	Finish Line, Inc. (The), Class A	560,000	7,028,000
	Foot Locker, Inc.	210,000	2,339,400
	Genesco, Inc.(1)	155,000	4,256,300
	Hot Topic, Inc.(1)	565,000	3,593,400
	Men's Wearhouse, Inc. (The)	125,000	2,632,500
	PEP Boys-Manny Moe & Jack	405,000	3,426,300
	RadioShack Corp.	115,000	2,242,500
	Rent-A-Center, Inc.(1)	240,000	4,252,800
	Rue21, Inc.(1)	70,000	1,966,300
	Stage Stores, Inc.	235,000	2,904,600
	Vitamin Shoppe, Inc.(1)	118,016	2,624,676
	Wet Seal, Inc. (The), Class A(1)	1,875,000	6,468,750
			71,807,504
TEXTILES, APPAREL & LUXURY GOODS ― 0.8%
	Crocs, Inc.(1)	550,000	3,162,500
	Skechers U.S.A., Inc., Class A(1)	85,000	2,499,850
	Weyco Group, Inc.	130,000	3,073,200

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Wolverine World Wide, Inc.	150,000	$ 4,083,000
			12,818,550
THRIFTS & MORTGAGE FINANCE ― 1.8%
	Brookline Bancorp., Inc.	435,000	4,310,850
	First Financial Northwest, Inc.	520,000	3,406,000
	First Niagara Financial Group, Inc.	520,000	7,233,200
	Flushing Financial Corp.	260,000	2,927,600
	K-Fed Bancorp.	340,000	2,988,600
	PMI Group, Inc. (The)(1)	892,514	2,249,135
	Provident Financial Services, Inc.	235,000	2,502,750
	Washington Federal, Inc.	210,000	4,061,400
			29,679,535
TRADING COMPANIES & DISTRIBUTORS ― 0.9%
	GATX Corp.	95,000	2,731,250
	Kaman Corp.	225,000	5,195,250
	Lawson Products, Inc.	217,911	3,846,129
	WESCO International, Inc.(1)	115,000	3,106,150
			14,878,779
WATER UTILITIES ― 0.2%
	Artesian Resources Corp., Class A	230,000	4,211,300
TOTAL COMMON STOCKS
	(Cost $1,319,444,428)		1,563,488,198
CONVERTIBLE PREFERRED STOCKS ― 3.9%
COMMERCIAL BANKS ― 0.1%
	Huntington Bancshares, Inc., Series A, 8.50%, 4/15/13(3)	2,549	2,192,140
INSURANCE ― 2.5%
	Aspen Insurance Holdings Ltd., Series AHL, 5.625%, 2/6/13(3)	780,000	40,965,600
LEISURE EQUIPMENT & PRODUCTS ― 0.3%
	Callaway Golf Co., Series B, 7.50%, 6/15/12(3)(4)	40,000	4,930,000
MEDIA ― 0.2%
	LodgeNet Interactive Corp., 10.00%, 12/31/49(3)(4)	1,776	2,664,000
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.5%
	Digital Realty Trust, Inc., Series D, 5.50%, 2/6/13(3)	85,000	2,613,750
	Entertainment Properties Trust, Series E, 9.00%, 4/20/13(3)	145,000	3,606,150
	Lexington Realty Trust, Series C, 6.50%, 12/31/49(3)	70,000	2,377,900
			8,597,800
TOBACCO ― 0.3%
	Universal Corp., 6.75%, 3/15/18(3)	4,900	5,573,750
TOTAL CONVERTIBLE PREFERRED STOCKS
	(Cost $57,308,787)		64,923,290
PREFERRED STOCKS ― 0.7%
INSURANCE(5)
	Odyssey Re Holdings Corp., Series A, 8.125%, 10/20/10(3)	23,798	596,140
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.7%
	National Retail Properties, Inc., Series C, 7.375%, 10/12/11(3)	280,000	6,748,000
	PS Business Parks, Inc., Series K, 7.95%, 3/11/10(3)	205,000	5,177,275
			11,925,275
TOTAL PREFERRED STOCKS
	(Cost $11,561,868)		12,521,415

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

TEMPORARY CASH INVESTMENTS ― 3.5%
	JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares	45,529	$ 45,529

Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $59,007,980), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $58,100,065)			58,100,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $58,145,529)		58,145,529
TOTAL INVESTMENT SECURITIES — 100.9%
(Cost $1,446,460,612)			1,699,078,432
OTHER ASSETS AND LIABILITIES — (0.9)%			(14,750,640)
TOTAL NET ASSETS — 100.0%			$1,684,327,792

Notes to Schedule of Investments

(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)	Perpetual security. These securities do not have a predetermined maturity date. The coupon rates are fixed for a period of time and may be structured to adjust thereafter. Interest reset or next call date is indicated, as applicable.
(4)	Security was purchased under Rule 144A of the Securities Act of 1933 or is a private placement and, unless registered under the Act or exempted from registration, may only be sold to qualified institutional investors. The aggregate value of these securities at the period end was $7,594,000, which represented 0.5% of total net assets.
(5)	Industry is less than 0.05% of total net assets.

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Common Stocks	$1,563,488,198	–	–
Convertible Preferred Stocks	–	$ 64,923,290	–
Preferred Stocks	–	12,521,415	–
Temporary Cash Investments	45,529	58,100,000	–
Total Value of Investment Securities	$1,563,533,727	$135,544,705	–

Small Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

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 nine months ended December 31, 2009 follows:
		December 31, 2009
	Company	March 31, 2009 Share Balance	Purchase Cost		Sales Cost	Realized Gain (Loss)	Dividend Income	Share Balance	Market Value
	Cutera, Inc.(1)	655,000	$1,896,519		$942,982	$(394,888)	-	815,000	$6,935,650
	DHT Maritime, Inc.(2)	2,318,922	3,111,867		9,741,219	(3,286,482)	$487,500	1,800,000	- (2)
	Mercer Insurance Group, Inc.	275,000	1,280,846		168,450	7,619	68,625	340,000	6,177,800
	Ulticom, Inc.	1,908,975	715,310		510,824	(245,844)	8,524,598	547,876	5,262,349
	Utah Medical Products, Inc.	180,000	1,049,025		1,493,763	(93,318)	117,937	170,000	4,984,400
	Young Innovations, Inc.	725,000	1,820,012		3,487,482	(528,872)	80,203	675,000	16,726,500
			$9,873,579		$16,344,720	$(4,541,785)	$9,278,863		$40,086,699

(1) Non-income producing. (2) Company was not an affiliate at December 31, 2009. 4. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments				$1,569,024,897
Gross tax appreciation of investments				$184,611,654
Gross tax depreciation of investments				(54,558,119)
Net tax appreciation (depreciation) of investments				$130,053,535

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

Equity Income Fund

December 31, 2009

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Shares/Principal

Amount

Value

COMMON STOCKS ― 72.8%
AEROSPACE & DEFENSE ― 0.3%
	Northrop Grumman Corp.	300,027	$ 16,756,508
AIR FREIGHT & LOGISTICS ― 2.1%
	United Parcel Service, Inc., Class B	2,200,021	126,215,205
AUTOMOBILES ― 0.2%
	Honda Motor Co. Ltd.	300,000	10,143,619
CAPITAL MARKETS ― 3.2%
	AllianceBernstein Holding LP	847,973	23,828,041
	Charles Schwab Corp. (The)	1,600,000	30,112,000
	Northern Trust Corp.	2,000,000	104,800,000
	T. Rowe Price Group, Inc.	620,100	33,020,325
			191,760,366
COMMERCIAL BANKS ― 0.8%
	Commerce Bancshares, Inc.	1,151,649	44,591,849
COMMERCIAL SERVICES & SUPPLIES ― 1.8%
	Pitney Bowes, Inc.	1,000,000	22,760,000
	Waste Management, Inc.	2,500,045	84,526,521
			107,286,521
COMPUTERS & PERIPHERALS ― 0.1%
	Diebold, Inc.	241,470	6,869,822
DISTRIBUTORS ― 0.4%
	Genuine Parts Co.	660,000	25,053,600
DIVERSIFIED ― 0.3%
	Standard & Poor’s 500 Depository Receipt, Series 1	132,000	14,710,080
DIVERSIFIED TELECOMMUNICATION SERVICES ― 5.3%
	AT&T, Inc.	8,000,000	224,240,000
	BCE, Inc.	2,700,000	74,867,333
	Verizon Communications, Inc.	437,100	14,481,123
			313,588,456
ELECTRIC UTILITIES ― 1.6%
	Northeast Utilities	1,600,000	41,264,000
	Portland General Electric Co.	868,443	17,724,922
	Southern Co.	1,000,000	33,320,000
			92,308,922
ELECTRICAL EQUIPMENT ― 1.6%
	Cooper Industries plc, Class A	500,000	21,320,000
	Emerson Electric Co.	950,000	40,470,000
	Rockwell Automation, Inc.	700,000	32,886,000
			94,676,000
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 0.6%
	AVX Corp.	170,253	2,157,106
	Molex, Inc., Class A	1,757,100	33,613,323
			35,770,429
FOOD & STAPLES RETAILING ― 2.7%
	Wal-Mart Stores, Inc.	3,000,016	160,350,855
FOOD PRODUCTS ― 4.1%
	Campbell Soup Co.	1,100,021	37,180,710
	H.J. Heinz Co.	2,200,000	94,072,000

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Shares/Principal

Amount

Value

	Hershey Co. (The)	1,200,000	$ 42,948,000
	Kraft Foods, Inc., Class A	640,020	17,395,743
	Unilever NV CVA	1,500,000	48,877,872
			240,474,325
GAS UTILITIES ― 4.8%
	AGL Resources, Inc.	2,630,800	95,945,276
	Nicor, Inc.	760,000	31,996,000
	Piedmont Natural Gas Co., Inc.	1,734,200	46,389,850
	Spectra Energy Partners LP	870,208	25,732,051
	WGL Holdings, Inc.(1)	2,506,188	84,057,545
			284,120,722
HOTELS, RESTAURANTS & LEISURE ― 0.4%
	McDonald's Corp.	400,000	24,976,000
HOUSEHOLD PRODUCTS ― 5.3%
	Clorox Co.	850,000	51,850,000
	Kimberly-Clark Corp.	2,700,000	172,017,000
	Procter & Gamble Co. (The)	1,500,000	90,945,000
			314,812,000
INSURANCE ― 7.1%
	ACE Ltd.(2)	300,000	15,120,000
	Allstate Corp. (The)	3,364,200	101,060,568
	Chubb Corp. (The)	1,643,400	80,822,412
	Marsh & McLennan Cos., Inc.	8,490,189	187,463,373
	MetLife, Inc.	281,300	9,943,955
	Transatlantic Holdings, Inc.	500,404	26,076,053
			420,486,361
IT SERVICES ― 0.9%
	Automatic Data Processing, Inc.	1,301,900	55,747,358
METALS & MINING ― 0.2%
	Nucor Corp.	286,900	13,383,885
MULTI-UTILITIES ― 2.8%
	Consolidated Edison, Inc.	1,454,868	66,094,653
	PG&E Corp.	1,850,000	82,602,500
	Wisconsin Energy Corp.	400,000	19,932,000
			168,629,153
OIL, GAS & CONSUMABLE FUELS ― 14.5%
	BP plc	4,500,000	43,520,301
	Chevron Corp.	2,523,800	194,307,362
	Enterprise Products Partners LP	500,000	15,705,000
	Exxon Mobil Corp.	5,664,629	386,271,051
	Total SA	2,969,700	190,303,002
	XTO Energy, Inc.	689,300	32,073,129
			862,179,845
PHARMACEUTICALS ― 6.2%
	Bristol-Myers Squibb Co.	3,217,840	81,250,460
	Eli Lilly & Co.	1,300,000	46,423,000
	Johnson & Johnson	2,789,535	179,673,949
	Pfizer, Inc.	3,400,024	61,846,437
			369,193,846
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 1.2%
	Annaly Capital Management, Inc.	2,300,000	39,905,000

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Shares/Principal

Amount

Value

	Public Storage	410,300	$ 33,418,935
			73,323,935
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 0.9%
	Applied Materials, Inc.	2,200,046	30,668,641
	Microchip Technology, Inc.	800,000	23,248,000
			53,916,641
SPECIALTY RETAIL ― 2.1%
	Lowe's Cos., Inc.	4,200,000	98,238,000
	Sherwin-Williams Co. (The)	400,000	24,660,000
			122,898,000
THRIFTS & MORTGAGE FINANCE ― 1.3%
	Hudson City Bancorp., Inc.	1,600,000	21,968,000
	People's United Financial, Inc.	3,400,000	56,780,000
			78,748,000
TOTAL COMMON STOCKS
	(Cost $3,760,781,631)		4,322,972,303
CONVERTIBLE BONDS ― 20.6%
AUTO COMPONENTS ― 1.4%
	BorgWarner, Inc., 3.50%, 4/15/12	$ 64,010,000	81,052,662
CAPITAL MARKETS ― 1.1%
	Goldman Sachs Group, Inc. (The), (convertible into Charles Schwab Corp. (The)), 10.40%, 1/25/10(3)(4)	1,450,000	27,009,295
	Janus Capital Group, Inc., 3.25%, 7/15/14	15,000,000	18,150,000
	Morgan Stanley, (convertible into Marsh & McLennan Cos., Inc.), 8.20%, 3/10/10(3)(4)	725,000	16,214,625
			61,373,920
COMMERCIAL BANKS ― 3.3%
	BNP Paribas, (convertible into Aon Corp.), 4.55%, 2/4/10(3)(4)	640,000	24,694,400
	Deutsche Bank AG, (convertible into Toll Brothers, Inc.), 15.67%, 3/11/10(3)(4)	655,000	12,166,298
	U.S. Bancorp., VRN, 0.00%, 3/11/10	162,566,000	160,330,717
			197,191,415
COMMERCIAL SERVICES & SUPPLIES ― 2.4%
	Waste Connections, Inc., 3.75%, 4/1/26	132,800,000	143,424,000
ENERGY EQUIPMENT & SERVICES ― 1.6%
	Cameron International Corp., 2.50%, 6/15/26	54,938,000	74,234,972
	Schlumberger Ltd., 2.125%, 6/1/23	12,000,000	19,650,000
			93,884,972
HEALTH CARE PROVIDERS & SERVICES ― 1.1%
	Lincare Holdings, Inc., 2.75%, 11/1/37	61,399,000	65,082,940
IT SERVICES ― 1.1%
	DST Systems, Inc., VRN, 3.63%, 8/15/23	64,000,000	66,720,000
METALS & MINING ― 1.1%
	Newmont Mining Corp., 3.00%, 2/15/12	53,000,000	67,045,000
OIL, GAS & CONSUMABLE FUELS ― 0.5%
	Peabody Energy Corp., 4.75%, 12/15/41	29,032,000	29,467,480
PAPER & FOREST PRODUCTS ― 1.3%
	Rayonier TRS Holdings, Inc., 3.75%, 10/15/12	45,000,000	48,037,500

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Shares/Principal

Amount

Value

	Rayonier TRS Holdings, Inc., 4.50%, 8/15/15(3)	$ 26,000,000	$ 29,965,000
			78,002,500
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 2.3%
	Host Hotels & Resorts LP, 3.25%, 4/15/24(3)	100,000,000	100,500,000
	Host Hotels & Resorts LP, 2.50%, 10/15/29(3)	12,000,000	12,885,000
	Reckson Operating Partnership LP, 4.00%, 6/15/25	22,474,000	22,474,000
			135,859,000
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 3.2%
	Intel Corp., 2.95%, 12/15/35	134,000,000	129,980,000
	Intel Corp., 3.25%, 8/1/39(3)	6,000,000	6,922,500
	Linear Technology Corp., 3.125%, 5/1/27	34,970,000	35,275,988
	Verigy Ltd., 5.25%, 7/15/14(3)	15,348,000	18,724,560
			190,903,048
SOFTWARE ― 0.2%
	Sybase, Inc., 3.50%, 8/15/29(3)	11,158,000	13,278,020
TOTAL CONVERTIBLE BONDS
	(Cost $1,108,533,624)		1,223,284,957
CONVERTIBLE PREFERRED STOCKS ― 3.6%
DIVERSIFIED FINANCIAL SERVICES ― 3.6%
	Bank of America Corp., 7.25%, 12/31/49(5)
	(Cost $178,735,418)	245,000	215,355,000
PREFERRED STOCKS ― 0.1%
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.1%
	Public Storage, 7.50%, 2/25/10(5)
	(Cost $7,211,118)	330,022	8,432,062
TEMPORARY CASH INVESTMENTS ― 2.6%
	JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares	48,251	48,251

Repurchase Agreement, Credit Suisse First Boston, Inc., (collateralized by various U.S. Treasury obligations, 4.50%, 5/15/10, valued at $145,145,999), in a joint trading account at 0.001%, dated 12/31/09, due 1/4/10 (Delivery value $142,300,016)			142,300,000
Repurchase Agreement, Goldman Sachs Group, Inc., (collateralized by various U.S. Treasury obligations, 4.50%-6.125%, 11/15/27-2/15/36, valued at $11,033,918), in a joint trading account at 0.001%, dated 12/31/09, due 1/4/10 (Delivery value $10,800,001)			10,800,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $153,148,251)		153,148,251
TOTAL INVESTMENT SECURITIES — 99.7%
(Cost $5,208,410,042)			5,923,192,573
OTHER ASSETS AND LIABILITIES — 0.3%			16,953,117
TOTAL NET ASSETS — 100.0%			$5,940,145,690

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

Contracts to Sell		Settlement Date	Value	Unrealized Gain (Loss)
62,924,371	CAD for USD	1/29/10	$60,165,770	$505,007
127,677,821	EUR for USD	1/29/10	183,032,541	1,315,975
20,297,250	GBP for USD	1/29/10	32,780,870	(313,225)
651,000,000	JPY for USD	1/29/10	6,990,755	119,104
			$282,969,936	$1,626,861
(Value on Settlement Date $284,596,797)

Notes to Schedule of Investments
	CAD	-	Canadian Dollar
	CVA	-	Certificaten Van Aandelen
	ETF	-	Exchange Traded Fund
	EUR	-	Euro
	GBP	-	British Pound
	JPY	-	Japanese Yen
	SPDR	-	Standard & Poor's Depositary Receipts
	USD	-	United States Dollar
	VRN	-	Variable Rate Note. Interest reset date is indicated. Rate shown is effective at the period end.

(1)	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.
(2)	Non-income producing.
(3)	Security was purchased under Rule 144A of the Securities Act of 1933 or is a private placement and, unless registered under the Act or exempted from registration, may only be sold to qualified institutional investors. The aggregate value of these securities at the period end was $262,359,698, which represented 4.4% of total net assets.
(4)	Equity-linked debt security. The aggregated value of these securities at the period end, was $80,084,618, which represented 1.3% of total net assets.
(5)	Perpetual security. These securities do not have a predetermined maturity date. The coupon rates are fixed for a period of time and may be structured to adjust thereafter. Interest reset or next call date is indicated, as applicable.

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Domestic Common Stocks	$3,940,140,176	–	–
Foreign Common Stocks	15,120,000	$ 367,712,127	–
Convertible Bonds	–	1,223,284,957	–
Convertible Preferred Stocks	–	215,355,000	–
Preferred Stocks	–	8,432,062	–
Temporary Cash Investments	48,251	153,100,000	–
Total Value of Investment Securities	$3,955,308,427	$1,967,884,146	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Forward Foreign Currency
Exchange Contracts	–	$1,626,861	–

Equity Income – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

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 nine months ended December 31, 2009 follows:
	December 31, 2009
Company	Share Balance March 31, 2009	Purchase Cost	Sales Cost	Realized Gain (Loss)	Dividend Income	Share Balance	Market Value
AGL Resources, Inc.(1)	3,573,500	$ 2,686,006	$36,141,881	$(1,462,005)	$444,007,710	2,630,800	(1)
WGL Holdings, Inc.	2,371,288	10,708,456	6,573,199	1,751	2,695,888	2,506,188	$ 84,057,545
		$13,394,462	$42,715,080	$(1,460,254)	$6,703,598		$ 84,057,545

(1) Company was not an affiliate at December 31, 2009.

4. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$5,419,908,135
Gross tax appreciation of investments	$514,930,524
Gross tax depreciation of investments	(11,646,086)
Net tax appreciation (depreciation) of investments	$503,284,438

The difference between book-basis and tax basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

Value Fund

December 31, 2009

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 97.6%
AEROSPACE & DEFENSE ― 1.0%
	Boeing Co. (The)	120,830	$ 6,540,528
	Northrop Grumman Corp.	157,280	8,784,088
			15,324,616
AIR FREIGHT & LOGISTICS ― 0.9%
	United Parcel Service, Inc., Class B	220,720	12,662,706
AIRLINES ― 0.5%
	Southwest Airlines Co.	636,490	7,275,081
AUTOMOBILES ― 1.6%
	Honda Motor Co. Ltd.	175,900	5,947,542
	Toyota Motor Corp.	412,900	17,348,347
			23,295,889
BEVERAGES ― 1.0%
	PepsiCo, Inc.	235,090	14,293,472
CAPITAL MARKETS ― 6.0%
	AllianceBernstein Holding LP	535,230	15,039,963
	Ameriprise Financial, Inc.	315,130	12,233,347
	Bank of New York Mellon Corp. (The)	381,750	10,677,548
	Goldman Sachs Group, Inc. (The)	70,240	11,859,322
	Legg Mason, Inc.	137,540	4,148,206
	Morgan Stanley	282,550	8,363,480
	Northern Trust Corp.	334,200	17,512,080
	State Street Corp.	238,010	10,362,955
			90,196,901
CHEMICALS ― 0.9%
	E.I. du Pont de Nemours & Co.	383,390	12,908,741
	Minerals Technologies, Inc.	12,840	699,395
			13,608,136
COMMERCIAL BANKS ― 1.7%
	Commerce Bancshares, Inc.	128,000	4,956,160
	U.S. Bancorp.	923,450	20,786,860
			25,743,020
COMMERCIAL SERVICES & SUPPLIES ― 2.4%
	Avery Dennison Corp.	67,420	2,460,156
	Pitney Bowes, Inc.	250,010	5,690,227
	Republic Services, Inc.	466,470	13,205,766
	Waste Management, Inc.	422,330	14,278,977
			35,635,126
COMMUNICATIONS EQUIPMENT ― 0.5%
	Nokia Oyj ADR	545,920	7,015,072
COMPUTERS & PERIPHERALS ― 1.5%
	Diebold, Inc.	387,210	11,016,124
	Hewlett-Packard Co.	220,490	11,357,440
			22,373,564
CONTAINERS & PACKAGING ― 0.6%
	Bemis Co., Inc.	303,600	9,001,740
DISTRIBUTORS ― 1.5%
	Genuine Parts Co.	570,960	21,673,642

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

DIVERSIFIED ― 0.7%
	iShares Russell 3000 Value Index Fund	138,900	$ 10,449,447
DIVERSIFIED FINANCIAL SERVICES ― 3.3%
	JPMorgan Chase & Co.	1,018,430	42,437,978
	McGraw-Hill Cos., Inc. (The)	210,990	7,070,275
			49,508,253
DIVERSIFIED TELECOMMUNICATION SERVICES ― 5.3%
	AT&T, Inc.	2,116,550	59,326,897
	BCE, Inc.	219,100	6,075,345
	Verizon Communications, Inc.	428,610	14,199,849
			79,602,091
ELECTRIC UTILITIES ― 3.7%
	American Electric Power Co., Inc.	183,000	6,366,570
	IDACORP, Inc.	539,560	17,238,942
	Southern Co.	180,730	6,021,924
	Westar Energy, Inc.	1,183,670	25,709,312
			55,336,748
ELECTRICAL EQUIPMENT ― 1.8%
	Emerson Electric Co.	172,470	7,347,222
	Hubbell, Inc., Class B	427,130	20,203,249
			27,550,471
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 1.6%
	Molex, Inc.	646,790	13,938,324
	Tyco Electronics Ltd.	414,580	10,177,939
			24,116,263
ENERGY EQUIPMENT & SERVICES ― 1.5%
	Baker Hughes, Inc.	112,540	4,555,619
	BJ Services Co.	166,600	3,098,760
	Helmerich & Payne, Inc.	92,780	3,700,066
	Schlumberger Ltd.	168,760	10,984,589
			22,339,034
FOOD & STAPLES RETAILING ― 0.9%
	CVS Caremark Corp.	250,540	8,069,893
	Wal-Mart Stores, Inc.	109,320	5,843,154
			13,913,047
FOOD PRODUCTS ― 5.3%
	Campbell Soup Co.	222,010	7,503,938
	ConAgra Foods, Inc.	582,560	13,428,008
	H.J. Heinz Co.	351,430	15,027,147
	Kellogg Co.	83,600	4,447,520
	Kraft Foods, Inc., Class A	996,430	27,082,967
	Unilever NV CVA	382,060	12,449,520
			79,939,100
GAS UTILITIES ― 0.3%
	Southwest Gas Corp.	7,562	215,744
	WGL Holdings, Inc.	110,200	3,696,108
			3,911,852
HEALTH CARE EQUIPMENT & SUPPLIES ― 2.0%
	Beckman Coulter, Inc.	195,310	12,781,086
	Boston Scientific Corp.(1)	1,100,940	9,908,460
	CareFusion Corp.(1)	56,110	1,403,311

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Zimmer Holdings, Inc.(1)	99,070	$ 5,856,028
			29,948,885
HEALTH CARE PROVIDERS & SERVICES ― 1.2%
	Aetna, Inc.	101,050	3,203,285
	Cardinal Health, Inc.	108,270	3,490,625
	CIGNA Corp.	58,750	2,072,112
	LifePoint Hospitals, Inc.(1)	200,880	6,530,609
	UnitedHealth Group, Inc.	108,220	3,298,546
			18,595,177
HOTELS, RESTAURANTS & LEISURE ― 2.0%
	Hyatt Hotels Corp., Class A(1)	143,810	4,286,976
	International Speedway Corp., Class A	508,800	14,475,360
	Speedway Motorsports, Inc.	600,370	10,578,520
			29,340,856
HOUSEHOLD DURABLES ― 0.5%
	Whirlpool Corp.	92,600	7,469,116
HOUSEHOLD PRODUCTS ― 2.1%
	Kimberly-Clark Corp.	301,260	19,193,275
	Procter & Gamble Co. (The)	198,050	12,007,771
			31,201,046
INDUSTRIAL CONGLOMERATES ― 2.9%
	3M Co.	59,220	4,895,717
	General Electric Co.	2,570,550	38,892,422
			43,788,139
INSURANCE ― 7.7%
	Allstate Corp. (The)	477,380	14,340,495
	Aon Corp.	140,970	5,404,790
	Berkshire Hathaway, Inc., Class A(1)	270	26,784,000
	Chubb Corp. (The)	210,940	10,374,029
	Marsh & McLennan Cos., Inc.	1,810,740	39,981,139
	Transatlantic Holdings, Inc.	107,040	5,577,855
	Travelers Cos., Inc. (The)	259,070	12,917,230
			115,379,538
IT SERVICES ― 0.4%
	Automatic Data Processing, Inc.	153,760	6,584,003
MEDIA ― 0.4%
	Walt Disney Co. (The)	191,020	6,160,395
METALS & MINING ― 0.6%
	Barrick Gold Corp.	93,240	3,671,791
	Newmont Mining Corp.	120,410	5,696,597
			9,368,388
MULTILINE RETAIL ― 1.0%
	Family Dollar Stores, Inc.	124,900	3,475,967
	Target Corp.	238,870	11,554,142
			15,030,109
MULTI-UTILITIES ― 2.4%
	Ameren Corp.	107,773	3,012,255
	PG&E Corp.	133,180	5,946,487
	Wisconsin Energy Corp.	377,190	18,795,378
	Xcel Energy, Inc.	410,450	8,709,749
			36,463,869

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

OIL, GAS & CONSUMABLE FUELS ― 15.8%
	Apache Corp.	106,090	$ 10,945,305
	BP plc ADR	164,690	9,547,079
	Chevron Corp.	566,360	43,604,056
	ConocoPhillips	73,920	3,775,095
	Devon Energy Corp.	177,460	13,043,310
	EOG Resources, Inc.	43,950	4,276,335
	EQT Corp.	323,640	14,214,269
	Exxon Mobil Corp.	1,110,650	75,735,224
	Total SA	671,930	43,058,321
	Valero Energy Corp.	167,740	2,809,645
	XTO Energy, Inc.	327,090	15,219,498
			236,228,137
PAPER & FOREST PRODUCTS ― 0.2%
	Weyerhaeuser Co.	83,070	3,583,640
PHARMACEUTICALS ― 6.8%
	Bristol-Myers Squibb Co.	219,785	5,549,571
	Eli Lilly & Co.	358,100	12,787,751
	Johnson & Johnson	397,840	25,624,875
	Merck & Co., Inc.	435,730	15,921,574
	Pfizer, Inc.	2,259,500	41,100,305
			100,984,076
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.9%
	Boston Properties, Inc.	58,480	3,922,254
	Host Hotels & Resorts, Inc.(1)	529,288	6,176,791
	Public Storage	40,600	3,306,870
			13,405,915
ROAD & RAIL ― 0.9%
	Heartland Express, Inc.	342,020	5,222,645
	Union Pacific Corp.	117,010	7,476,939
			12,699,584
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 2.1%
	Applied Materials, Inc.	844,370	11,770,518
	Intel Corp.	860,030	17,544,612
	Texas Instruments, Inc.	79,110	2,061,606
			31,376,736
SPECIALTY RETAIL ― 2.7%
	Lowe's Cos., Inc.	1,444,740	33,792,469
	PetSmart, Inc.	255,840	6,828,369
			40,620,838
THRIFTS & MORTGAGE FINANCE ― 0.5%
	Hudson City Bancorp., Inc.	565,300	7,761,569
TOTAL COMMON STOCKS
	(Cost $1,387,794,116)		1,460,755,287
CONVERTIBLE PREFERRED STOCKS — 0.7%
DIVERSIFIED FINANCIAL SERVICES ― 0.7%
	Bank of America Corp., 10.00%, 12/31/49(2) (Cost $11,304,566)	752,770	11,231,328
TEMPORARY CASH INVESTMENTS — 1.5%

JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares

83,250

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $23,054,753), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $22,700,025)		$ 22,700,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $22,783,250)	22,783,250
TOTAL INVESTMENT SECURITIES — 99.8%
	(Cost $1,421,881,932)	1,494,769,865
OTHER ASSETS AND LIABILITIES — 0.2%		2,478,820
TOTAL NET ASSETS — 100.0%		$1,497,248,685

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

Contracts to Sell		Settlement Date	Value	Unrealized Gain (Loss)
8,642,344	CAD for USD	1/29/10	$8,263,464	$63,135
37,204,220	EUR for USD	1/29/10	53,334,110	383,464
5,112,283	GBP for USD	1/29/10	8,256,542	(74,230)
1,494,468,500	JPY for USD	1/29/10	16,048,329	273,422
			$85,902,445	$645,791
(Value on Settlement Date $86,548,236)

Notes to Schedule of Investments
	ADR	-	American Depositary Receipt
	CAD	-	Canadian Dollar
	CVA	-	Certificaten Van Aandelen
	EUR	-	Euro
	GBP	-	British Pound
	JPY	-	Japanese Yen
	USD	-	United States Dollar

(1)	Non-income producing.
(2)	Perpetual security. These securities do not have a predetermined maturity date. The coupon rates are fixed for a period of time and may be structured to adjust thereafter. Interest reset or next call date is indicated, as applicable.

Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Domestic Common Stocks	$1,345,464,331	–	–
Foreign Common Stocks	30,411,881	$ 84,879,075	–
Convertible Preferred Stocks	–	11,231,328	–
Temporary Cash Investments	83,250	22,700,000	–
Total Value of Investment Securities	$1,375,959,462	$118,810,403	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Forward Foreign Currency Exchange Contracts	–	$645,791	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$1,512,869,920
Gross tax appreciation of investments	$103,954,021
Gross tax depreciation of investments	(122,054,076)
Net tax appreciation (depreciation) of investments	$(18,100,055)

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

Large Company Value Fund

December 31, 2009

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 98.8%
AEROSPACE & DEFENSE ― 2.4%
	Honeywell International, Inc.	272,500	$ 10,682,000
	Lockheed Martin Corp.	88,000	6,630,800
	Northrop Grumman Corp.	243,900	13,621,815
			30,934,615
BEVERAGES ― 1.5%
	Coca-Cola Co. (The)	334,600	19,072,200
BIOTECHNOLOGY ― 0.8%
	Amgen, Inc.(1)	125,500	7,099,535
	Gilead Sciences, Inc.(1)	71,400	3,090,192
			10,189,727
CAPITAL MARKETS ― 4.2%
	Ameriprise Financial, Inc.	267,600	10,388,232
	Bank of New York Mellon Corp. (The)	490,300	13,713,691
	Goldman Sachs Group, Inc. (The)	120,200	20,294,568
	Morgan Stanley	362,800	10,738,880
			55,135,371
CHEMICALS ― 2.2%
	E.I. du Pont de Nemours & Co.	470,900	15,855,203
	PPG Industries, Inc.	209,200	12,246,568
			28,101,771
COMMERCIAL BANKS ― 3.9%
	PNC Financial Services Group, Inc.	164,900	8,705,071
	U.S. Bancorp.	708,300	15,943,833
	Wells Fargo & Co.	956,822	25,824,626
			50,473,530
COMMERCIAL SERVICES & SUPPLIES ― 1.7%
	Avery Dennison Corp.	134,500	4,907,905
	Pitney Bowes, Inc.	207,800	4,729,528
	R.R. Donnelley & Sons Co.	277,000	6,168,790
	Waste Management, Inc.	192,100	6,494,901
			22,301,124
COMMUNICATIONS EQUIPMENT ― 0.7%
	Cisco Systems, Inc.(1)	406,600	9,734,004
COMPUTERS & PERIPHERALS ― 1.2%
	Hewlett-Packard Co.	297,200	15,308,772
CONSTRUCTION & ENGINEERING ― 0.2%
	Shaw Group, Inc. (The)(1)	111,400	3,202,750
DIVERSIFIED CONSUMER SERVICES ― 0.7%
	H&R Block, Inc.	389,900	8,819,538
DIVERSIFIED FINANCIAL SERVICES ― 6.9%
	Bank of America Corp.	2,485,800	37,436,148
	Citigroup, Inc.	1,801,555	5,963,147
	JPMorgan Chase & Co.	1,103,900	45,999,513
			89,398,808
DIVERSIFIED TELECOMMUNICATION SERVICES ― 6.8%
	AT&T, Inc.	1,862,300	52,200,269
	CenturyTel, Inc.	147,200	5,330,112

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Verizon Communications, Inc.	930,400	$ 30,824,152
			88,354,533
ELECTRIC UTILITIES ― 2.6%
	Exelon Corp.	376,600	18,404,442
	PPL Corp.	466,700	15,079,077
			33,483,519
ENERGY EQUIPMENT & SERVICES ― 2.0%
	Baker Hughes, Inc.	131,300	5,315,024
	Diamond Offshore Drilling, Inc.	37,600	3,700,592
	National Oilwell Varco, Inc.	250,000	11,022,500
	Smith International, Inc.	85,300	2,317,601
	Transocean Ltd.(1)	39,100	3,237,480
			25,593,197
FOOD & STAPLES RETAILING ― 3.3%
	Kroger Co. (The)	408,600	8,388,558
	SYSCO Corp.	263,500	7,362,190
	Walgreen Co.	339,800	12,477,456
	Wal-Mart Stores, Inc.	276,700	14,789,615
			43,017,819
FOOD PRODUCTS ― 1.0%
	Kraft Foods, Inc., Class A	243,500	6,618,330
	Unilever NV New York Shares	214,600	6,938,018
			13,556,348
HEALTH CARE EQUIPMENT & SUPPLIES ― 0.4%
	Medtronic, Inc.	132,300	5,818,554
HEALTH CARE PROVIDERS & SERVICES ― 1.4%
	Aetna, Inc.	201,400	6,384,380
	Quest Diagnostics, Inc.	69,900	4,220,562
	WellPoint, Inc.(1)	133,500	7,781,715
			18,386,657
HOTELS, RESTAURANTS & LEISURE ― 0.6%
	Darden Restaurants, Inc.	121,300	4,253,991
	Starbucks Corp.(1)	140,600	3,242,236
			7,496,227
HOUSEHOLD DURABLES ― 0.6%
	Newell Rubbermaid, Inc.	502,800	7,547,028
HOUSEHOLD PRODUCTS ― 0.5%
	Clorox Co.	111,600	6,807,600
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS ― 0.2%
	NRG Energy, Inc.(1)	141,800	3,347,898
INDUSTRIAL CONGLOMERATES ― 3.9%
	General Electric Co.(2)	2,903,800	43,934,494
	Tyco International Ltd.(1)	189,400	6,757,792
			50,692,286
INSURANCE ― 4.2%
	Allstate Corp. (The)	408,500	12,271,340
	Chubb Corp. (The)	170,400	8,380,272
	Loews Corp.	169,900	6,175,865
	Torchmark Corp.	197,800	8,693,310
	Travelers Cos., Inc. (The)	300,400	14,977,944
	XL Capital Ltd., Class A	224,800	4,120,584
			54,619,315

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

IT SERVICES ― 1.6%
	Fiserv, Inc.(1)	104,700	$ 5,075,856
	International Business Machines Corp.	118,500	15,511,650
			20,587,506
MACHINERY ― 1.6%
	Dover Corp.	238,100	9,907,341
	Ingersoll-Rand plc	310,800	11,107,992
			21,015,333
MEDIA ― 4.1%
	CBS Corp., Class B	663,700	9,324,985
	Comcast Corp., Class A	704,700	11,881,242
	Time Warner Cable, Inc.	152,120	6,296,247
	Time Warner, Inc.	512,700	14,940,078
	Viacom, Inc., Class B(1)	351,700	10,456,041
			52,898,593
METALS & MINING ― 0.7%
	Nucor Corp.	193,500	9,026,775
MULTILINE RETAIL ― 0.6%
	Kohl's Corp.(1)	128,300	6,919,219
	Macy's, Inc.	76,100	1,275,436
			8,194,655
MULTI-UTILITIES ― 0.8%
	PG&E Corp.	223,400	9,974,810
OFFICE ELECTRONICS ― 0.5%
	Xerox Corp.	712,400	6,026,904
OIL, GAS & CONSUMABLE FUELS ― 16.9%
	Apache Corp.	154,700	15,960,399
	Chevron Corp.	609,300	46,910,007
	ConocoPhillips	731,200	37,342,384
	Devon Energy Corp.	122,800	9,025,800
	Exxon Mobil Corp.	889,300	60,641,367
	Occidental Petroleum Corp.	189,800	15,440,230
	Royal Dutch Shell plc, Class A ADR	505,900	30,409,649
	Valero Energy Corp.	207,200	3,470,600
			219,200,436
PAPER & FOREST PRODUCTS ― 0.5%
	International Paper Co.	237,600	6,362,928
PHARMACEUTICALS ― 9.5%
	Abbott Laboratories	226,100	12,207,139
	Eli Lilly & Co.	224,900	8,031,179
	Johnson & Johnson	397,300	25,590,093
	Merck & Co., Inc.	701,300	25,625,502
	Pfizer, Inc.	2,838,000	51,623,220
			123,077,133
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.6%
	Simon Property Group, Inc.	100,687	8,034,824
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 1.2%
	Applied Materials, Inc.	346,700	4,832,998
	Intel Corp.	505,400	10,310,160
			15,143,158

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

SOFTWARE ― 2.4%
	Activision Blizzard, Inc.(1)	291,000	$ 3,233,010
	Microsoft Corp.	536,300	16,351,787
	Oracle Corp.	460,800	11,308,032
			30,892,829
SPECIALTY RETAIL ― 2.3%
	Best Buy Co., Inc.	112,900	4,455,034
	Gap, Inc. (The)	251,700	5,273,115
	Home Depot, Inc. (The)	499,900	14,462,107
	Staples, Inc.	241,000	5,926,190
			30,116,446
TEXTILES, APPAREL & LUXURY GOODS ― 0.5%
	VF Corp.	97,700	7,155,548
TOBACCO ― 1.1%
	Altria Group, Inc.	441,900	8,674,497
	Lorillard, Inc.	76,700	6,153,641
			14,828,138
TOTAL COMMON STOCKS
	(Cost $1,200,528,067)		1,283,929,207
CONVERTIBLE PREFERRED STOCKS — 0.2%
DIVERSIFIED FINANCIAL SERVICES ― 0.2%
	Bank of America Corp., 10.00%, 12/31/49(3) (Cost $3,115,800)	207,720	3,099,182
TEMPORARY CASH INVESTMENTS — 1.1%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares		68,760	68,760
Repurchase Agreement, Goldman Sachs Group, Inc., (collateralized by various U.S. Treasury obligations, 4.50%-6.125%, 11/15/27-2/15/36, valued at $14,363,505), in a joint trading account at 0.001%, dated 12/31/09, due 1/4/10 (Delivery value $14,059,002)			14,059,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $14,127,760)		14,127,760
TEMPORARY CASH INVESTMENTS - SEGREGATED FOR FUTURES CONTRACTS — 0.7%
Repurchase Agreement, Goldman Sachs Group, Inc, (collateralized by various U.S. Treasury obligations, 4.50%-6.125%, 11/15/27-2/15/36, valued at $9,645,483), in a joint trading account at 0.001%, dated 12/31/09, due 1/4/10 (Delivery value $9,441,001) (Cost $9,441,000)			9,441,000
TOTAL INVESTMENT SECURITIES — 100.8%
	(Cost $1,227,212,627)		1,310,597,149
OTHER ASSETS AND LIABILITIES — (0.8)%			(10,363,553)
TOTAL NET ASSETS — 100.0%			$1,300,233,596

FUTURES CONTRACTS

Contracts Purchased		Expiration Date	Underlying Face Amount at Value	Unrealized Gain (Loss)
170	S&P 500 E-Mini Futures	March 2010	$9,440,950	$216,060

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Notes to Schedule of Investments
	ADR	-	American Depositary Receipt

(1)	Non-income producing.
(2)	Security, or a portion thereof, has been segregated for futures contracts. At the period end, the aggregate value of securities pledged was $9,441,000.
(3)	Perpetual security. These securities do not have a predetermined maturity date. The coupon rates are fixed for a period of time and may be structured to adjust thereafter. Interest reset or next call date is indicated, as applicable.

Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Common Stocks	$1,283,929,207	–	–
Convertible Preferred Stocks	–	$ 3,099,182	–
Temporary Cash Investments	68,760	23,500,000	–
Total Value of Investment Securities	$1,283,997,967	$26,599,182	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Futures Contracts	$ 216,060	–	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$1,242,070,797
Gross tax appreciation of investments	$ 199,258,942
Gross tax depreciation of investments	(130,732,590)
Net tax appreciation (depreciation) of investments	$ 68,526,352

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

Equity Index Fund

December 31, 2009

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 99.1%
AEROSPACE & DEFENSE ― 2.7%
	Boeing Co. (The)	30,091	$ 1,628,826
	General Dynamics Corp.	15,948	1,087,175
	Goodrich Corp.	5,103	327,868
	Honeywell International, Inc.	31,459	1,233,193
	ITT Corp.	7,559	375,985
	L-3 Communications Holdings, Inc.	4,722	410,578
	Lockheed Martin Corp.	13,157	991,380
	Northrop Grumman Corp.	12,875	719,069
	Precision Castparts Corp.	5,820	642,237
	Raytheon Co.	15,749	811,388
	Rockwell Collins, Inc.	6,458	357,515
	United Technologies Corp.	38,699	2,686,097
			11,271,311
AIR FREIGHT & LOGISTICS ― 1.0%
	C.H. Robinson Worldwide, Inc.	6,803	399,540
	Expeditors International of Washington, Inc.	8,763	304,339
	FedEx Corp.	12,931	1,079,092
	United Parcel Service, Inc., Class B	40,917	2,347,408
			4,130,379
AIRLINES ― 0.1%
	Southwest Airlines Co.	30,735	351,301
AUTO COMPONENTS ― 0.2%
	Goodyear Tire & Rubber Co. (The)(1)	9,620	135,642
	Johnson Controls, Inc.	27,769	756,428
			892,070
AUTOMOBILES ― 0.4%
	Ford Motor Co.(1)	136,168	1,361,680
	Harley-Davidson, Inc.	9,734	245,297
			1,606,977
BEVERAGES ― 2.6%
	Brown-Forman Corp., Class B	4,492	240,637
	Coca-Cola Co. (The)	95,679	5,453,703
	Coca-Cola Enterprises, Inc.	12,835	272,102
	Constellation Brands, Inc., Class A(1)	8,409	133,955
	Dr. Pepper Snapple Group, Inc.	10,540	298,282
	Molson Coors Brewing Co., Class B	6,489	293,043
	Pepsi Bottling Group, Inc.	5,964	223,650
	PepsiCo, Inc.	64,325	3,910,960
			10,826,332
BIOTECHNOLOGY ― 1.5%
	Amgen, Inc.(1)	41,790	2,364,060
	Biogen Idec, Inc.(1)	11,814	632,049
	Celgene Corp.(1)	18,989	1,057,308
	Cephalon, Inc.(1)	3,061	191,037
	Genzyme Corp.(1)	10,882	533,327
	Gilead Sciences, Inc.(1)	37,162	1,608,371
			6,386,152
BUILDING PRODUCTS ― 0.1%
	Masco Corp.	14,589	201,474

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

CAPITAL MARKETS ― 2.7%
	Ameriprise Financial, Inc.	10,476	$ 406,678
	Bank of New York Mellon Corp. (The)	49,781	1,392,375
	Charles Schwab Corp. (The)	39,439	742,242
	E*TRADE Financial Corp.(1)	67,470	118,072
	Federated Investors, Inc., Class B	3,314	91,135
	Franklin Resources, Inc.	6,091	641,687
	Goldman Sachs Group, Inc. (The)	21,172	3,574,680
	Invesco Ltd.	17,403	408,796
	Janus Capital Group, Inc.	7,316	98,400
	Legg Mason, Inc.	6,776	204,364
	Morgan Stanley	55,881	1,654,078
	Northern Trust Corp.	10,274	538,358
	State Street Corp.	20,459	890,785
	T. Rowe Price Group, Inc.	10,615	565,249
			11,326,899
CHEMICALS ― 2.0%
	Air Products & Chemicals, Inc.	8,676	703,277
	Airgas, Inc.	3,484	165,838
	CF Industries Holdings, Inc.	2,009	182,377
	Dow Chemical Co. (The)	47,369	1,308,805
	E.I. du Pont de Nemours & Co.	37,445	1,260,773
	Eastman Chemical Co.	3,011	181,383
	Ecolab, Inc.	9,782	436,081
	FMC Corp.	2,956	164,827
	International Flavors & Fragrances, Inc.	3,347	137,696
	Monsanto Co.	22,410	1,832,017
	PPG Industries, Inc.	6,840	400,414
	Praxair, Inc.	12,733	1,022,587
	Sigma-Aldrich Corp.	4,983	251,791
			8,047,866
COMMERCIAL BANKS ― 2.7%
	BB&T Corp.	28,197	715,358
	Comerica, Inc.	6,070	179,490
	Fifth Third Bancorp.	33,162	323,330
	First Horizon National Corp.(1)	9,312	124,786
	Huntington Bancshares, Inc.	29,311	106,985
	KeyCorp	36,866	204,606
	M&T Bank Corp.	3,370	225,419
	Marshall & Ilsley Corp.	20,691	112,766
	PNC Financial Services Group, Inc.	19,093	1,007,919
	Regions Financial Corp.	49,028	259,358
	SunTrust Banks, Inc.	20,802	422,073
	U.S. Bancorp.	78,593	1,769,128
	Wells Fargo & Co.	210,788	5,689,168
	Zions Bancorp.	5,605	71,912
			11,212,298
COMMERCIAL SERVICES & SUPPLIES ― 0.5%
	Avery Dennison Corp.	4,673	170,518
	Cintas Corp.	5,236	136,398
	Iron Mountain, Inc.(1)	7,285	165,806
	Pitney Bowes, Inc.	8,773	199,673

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	R.R. Donnelley & Sons Co.	8,710	$ 193,972
	Republic Services, Inc.	13,245	374,966
	Stericycle, Inc.(1)	3,517	194,033
	Waste Management, Inc.	20,067	678,465
			2,113,831
COMMUNICATIONS EQUIPMENT ― 2.6%
	Cisco Systems, Inc.(1)	237,131	5,676,916
	Harris Corp.	5,420	257,721
	JDS Uniphase Corp.(1)	8,760	72,270
	Juniper Networks, Inc.(1)	21,721	579,299
	Motorola, Inc.(1)	95,018	737,340
	QUALCOMM, Inc.	68,856	3,185,279
	Tellabs, Inc.(1)	14,706	83,530
			10,592,355
COMPUTERS & PERIPHERALS ― 4.2%
	Apple, Inc.(1)	37,168	7,837,244
	Dell, Inc.(1)	71,232	1,022,892
	EMC Corp.(1)	84,472	1,475,726
	Hewlett-Packard Co.	97,801	5,037,730
	Lexmark International, Inc., Class A(1)	3,403	88,410
	NetApp, Inc.(1)	13,989	481,082
	QLogic Corp.(1)	4,458	84,122
	SanDisk Corp.(1)	9,402	272,564
	Sun Microsystems, Inc.(1)	31,035	290,798
	Teradata Corp.(1)	7,112	223,530
	Western Digital Corp.(1)	9,376	413,950
			17,228,048
CONSTRUCTION & ENGINEERING ― 0.2%
	Fluor Corp.	7,424	334,377
	Jacobs Engineering Group, Inc.(1)	5,115	192,375
	Quanta Services, Inc.(1)	8,571	178,620
			705,372
CONSTRUCTION MATERIALS ― 0.1%
	Vulcan Materials Co.	5,279	278,045
CONSUMER FINANCE ― 0.8%
	American Express Co.	48,953	1,983,575
	Capital One Financial Corp.	18,482	708,600
	Discover Financial Services	22,322	328,357
	SLM Corp.(1)	19,249	216,936
			3,237,468
CONTAINERS & PACKAGING ― 0.2%
	Ball Corp.	3,874	200,286
	Bemis Co., Inc.	4,333	128,473
	Owens-Illinois, Inc.(1)	6,952	228,512
	Pactiv Corp.(1)	5,684	137,212
	Sealed Air Corp.	6,828	149,260
			843,743
DISTRIBUTORS ― 0.1%
	Genuine Parts Co.	6,607	250,802
DIVERSIFIED CONSUMER SERVICES ― 0.2%
	Apollo Group, Inc., Class A(1)	5,344	323,740
	DeVry, Inc.	2,600	147,498

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	H&R Block, Inc.	13,857	$ 313,445
			784,683
DIVERSIFIED FINANCIAL SERVICES ― 4.4%
	Bank of America Corp.	409,773	6,171,181
	Citigroup, Inc.	803,386	2,659,208
	CME Group, Inc.	2,750	923,862
	IntercontinentalExchange, Inc.(1)	3,006	337,574
	JPMorgan Chase & Co.(2)	162,559	6,773,834
	Leucadia National Corp.(1)	7,700	183,183
	McGraw-Hill Cos., Inc. (The)	13,034	436,769
	Moody's Corp.	8,107	217,268
	NASDAQ OMX Group, Inc. (The)(1)	5,900	116,938
	NYSE Euronext	10,725	271,342
			18,091,159
DIVERSIFIED TELECOMMUNICATION SERVICES ― 2.8%
	AT&T, Inc.	243,427	6,823,259
	CenturyTel, Inc.	12,268	444,224
	Frontier Communications Corp.	13,529	105,662
	Qwest Communications International, Inc.	59,635	251,063
	Verizon Communications, Inc.	117,125	3,880,351
	Windstream Corp.	18,223	200,271
			11,704,830
ELECTRIC UTILITIES ― 2.0%
	Allegheny Energy, Inc.	6,754	158,584
	American Electric Power Co., Inc.	19,754	687,242
	Duke Energy Corp.	53,769	925,364
	Edison International	13,474	468,626
	Entergy Corp.	7,810	639,170
	Exelon Corp.	27,073	1,323,058
	FirstEnergy Corp.	12,658	587,964
	FPL Group, Inc.	17,075	901,901
	Northeast Utilities	7,100	183,109
	Pepco Holdings, Inc.	9,200	155,020
	Pinnacle West Capital Corp.	4,163	152,283
	PPL Corp.	15,598	503,971
	Progress Energy, Inc.	11,503	471,738
	Southern Co.	33,016	1,100,093
			8,258,123
ELECTRICAL EQUIPMENT ― 0.5%
	Emerson Electric Co.	31,168	1,327,757
	First Solar, Inc.(1)	1,989	269,311
	Rockwell Automation, Inc.	5,857	275,162
	Roper Industries, Inc.	3,790	198,482
			2,070,712
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 0.6%
	Agilent Technologies, Inc.(1)	14,416	447,905
	Amphenol Corp., Class A	7,021	324,230
	Corning, Inc.	64,381	1,243,197
	FLIR Systems, Inc.(1)	6,400	209,408
	Jabil Circuit, Inc.	7,510	130,449
	Molex, Inc.	5,380	115,939
			2,471,128

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

ENERGY EQUIPMENT & SERVICES ― 1.8%
	Baker Hughes, Inc.	12,854	$ 520,330
	BJ Services Co.	12,145	225,897
	Cameron International Corp.(1)	10,130	423,434
	Diamond Offshore Drilling, Inc.	2,845	280,005
	FMC Technologies, Inc.(1)	5,025	290,646
	Halliburton Co.	37,271	1,121,484
	Nabors Industries Ltd.(1)	11,783	257,930
	National Oilwell Varco, Inc.	17,286	762,140
	Rowan Cos., Inc.(1)	4,396	99,525
	Schlumberger Ltd.	49,455	3,219,026
	Smith International, Inc.	10,199	277,107
			7,477,524
FOOD & STAPLES RETAILING ― 2.7%
	Costco Wholesale Corp.	18,002	1,065,178
	CVS Caremark Corp.	58,097	1,871,305
	Kroger Co. (The)	27,000	554,310
	Safeway, Inc.	16,673	354,968
	SUPERVALU, INC.	9,020	114,644
	SYSCO Corp.	24,543	685,732
	Walgreen Co.	40,788	1,497,735
	Wal-Mart Stores, Inc.	88,112	4,709,587
	Whole Foods Market, Inc.(1)	5,605	153,857
			11,007,316
FOOD PRODUCTS ― 1.6%
	Archer-Daniels-Midland Co.	26,558	831,531
	Campbell Soup Co.	7,633	257,995
	ConAgra Foods, Inc.	18,403	424,189
	Dean Foods Co.(1)	7,642	137,862
	General Mills, Inc.	13,478	954,377
	H.J. Heinz Co.	13,064	558,617
	Hershey Co. (The)	6,863	245,627
	Hormel Foods Corp.	2,861	110,005
	J.M. Smucker Co. (The)	4,906	302,945
	Kellogg Co.	10,355	550,886
	Kraft Foods, Inc., Class A	61,060	1,659,611
	McCormick & Co., Inc.	5,398	195,030
	Sara Lee Corp.	28,789	350,650
	Tyson Foods, Inc., Class A	12,907	158,369
			6,737,694
GAS UTILITIES ― 0.1%
	Nicor, Inc.	1,951	82,137
	Questar Corp.	7,152	297,309
			379,446
HEALTH CARE EQUIPMENT & SUPPLIES ― 2.0%
	Baxter International, Inc.	24,975	1,465,533
	Becton, Dickinson & Co.	9,771	770,541
	Boston Scientific Corp.(1)	62,200	559,800
	C.R. Bard, Inc.	4,025	313,548
	CareFusion Corp.(1)	7,142	178,621
	DENTSPLY International, Inc.	6,413	225,545
	Hospira, Inc.(1)	6,580	335,580

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Intuitive Surgical, Inc.(1)	1,564	$ 474,392
	Medtronic, Inc.	45,569	2,004,125
	St. Jude Medical, Inc.(1)	13,725	504,806
	Stryker Corp.	11,666	587,616
	Varian Medical Systems, Inc.(1)	5,255	246,197
	Zimmer Holdings, Inc.(1)	8,860	523,715
			8,190,019
HEALTH CARE PROVIDERS & SERVICES ― 2.1%
	Aetna, Inc.	17,723	561,819
	AmerisourceBergen Corp.	11,770	306,844
	Cardinal Health, Inc.	14,898	480,311
	CIGNA Corp.	11,268	397,422
	Coventry Health Care, Inc.(1)	6,208	150,792
	DaVita, Inc.(1)	4,181	245,592
	Express Scripts, Inc.(1)	11,386	984,320
	Humana, Inc.(1)	6,952	305,123
	Laboratory Corp. of America Holdings(1)	4,433	331,766
	McKesson Corp.	10,996	687,250
	Medco Health Solutions, Inc.(1)	19,649	1,255,768
	Patterson Cos., Inc.(1)	3,994	111,752
	Quest Diagnostics, Inc.	6,414	387,277
	Tenet Healthcare Corp.(1)	17,728	95,554
	UnitedHealth Group, Inc.	47,789	1,456,609
	WellPoint, Inc.(1)	18,903	1,101,856
			8,860,055
HEALTH CARE TECHNOLOGY(3)
	IMS Health, Inc.	7,533	158,645
HOTELS, RESTAURANTS & LEISURE ― 1.5%
	Carnival Corp.(1)	17,873	566,395
	Darden Restaurants, Inc.	5,858	205,440
	International Game Technology	12,219	229,351
	Marriott International, Inc., Class A	10,393	283,218
	McDonald's Corp.	44,566	2,782,701
	Starbucks Corp.(1)	30,462	702,454
	Starwood Hotels & Resorts Worldwide, Inc.	7,695	281,406
	Wyndham Worldwide Corp.	7,338	148,007
	Wynn Resorts Ltd.	2,938	171,080
	Yum! Brands, Inc.	19,303	675,026
			6,045,078
HOUSEHOLD DURABLES ― 0.3%
	Black & Decker Corp.	2,543	164,863
	D.R. Horton, Inc.	11,785	128,103
	Fortune Brands, Inc.	6,159	266,069
	Harman International Industries, Inc.	2,834	99,983
	Leggett & Platt, Inc.	5,935	121,074
	Lennar Corp., Class A	7,015	89,582
	Newell Rubbermaid, Inc.	11,078	166,281
	Pulte Homes, Inc.(1)	13,205	132,050
	Whirlpool Corp.	3,023	243,835
			1,411,840
HOUSEHOLD PRODUCTS ― 2.5%
	Clorox Co.	5,771	352,031

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Colgate-Palmolive Co.	20,519	$ 1,685,636
	Kimberly-Clark Corp.	17,199	1,095,748
	Procter & Gamble Co. (The)	120,501	7,305,976
			10,439,391
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS ― 0.2%
	AES Corp. (The)(1)	27,416	364,907
	Constellation Energy Group, Inc.	8,278	291,137
			656,044
INDUSTRIAL CONGLOMERATES ― 2.2%
	3M Co.	29,157	2,410,409
	General Electric Co.(2)	438,858	6,639,922
	Textron, Inc.	11,288	212,327
			9,262,658
INSURANCE ― 2.4%
	Aflac, Inc.	19,377	896,186
	Allstate Corp. (The)	22,186	666,467
	American International Group, Inc.(1)	5,400	161,892
	Aon Corp.	11,364	435,696
	Assurant, Inc.	4,680	137,966
	Chubb Corp. (The)	14,172	696,979
	Cincinnati Financial Corp.	6,913	181,397
	Genworth Financial, Inc., Class A(1)	20,120	228,362
	Hartford Financial Services Group, Inc. (The)	15,849	368,648
	Lincoln National Corp.	12,705	316,100
	Loews Corp.	14,789	537,580
	Marsh & McLennan Cos., Inc.	21,659	478,231
	MetLife, Inc.	33,605	1,187,937
	Principal Financial Group, Inc.	13,248	318,482
	Progressive Corp. (The)(1)	27,484	494,437
	Prudential Financial, Inc.	19,181	954,447
	Torchmark Corp.	3,311	145,519
	Travelers Cos., Inc. (The)	22,641	1,128,880
	Unum Group	13,727	267,951
	XL Capital Ltd., Class A	14,108	258,600
			9,861,757
INTERNET & CATALOG RETAIL ― 0.6%
	Amazon.com, Inc.(1)	13,774	1,852,878
	Expedia, Inc.(1)	8,708	223,883
	priceline.com, Inc.(1)	1,800	393,300
			2,470,061
INTERNET SOFTWARE & SERVICES ― 2.1%
	Akamai Technologies, Inc.(1)	7,270	184,149
	eBay, Inc.(1)	46,501	1,094,633
	Google, Inc., Class A(1)	9,944	6,165,081
	VeriSign, Inc.(1)	7,899	191,472
	Yahoo!, Inc.(1)	49,378	828,563
			8,463,898
IT SERVICES ― 3.3%
	Affiliated Computer Services, Inc., Class A(1)	4,002	238,879
	Automatic Data Processing, Inc.	20,791	890,271
	Cognizant Technology Solutions Corp., Class A(1)	12,151	550,440
	Computer Sciences Corp.(1)	6,277	361,116

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Fidelity National Information Services, Inc.	13,678	$ 320,612
	Fiserv, Inc.(1)	6,428	311,629
	International Business Machines Corp.	54,198	7,094,518
	MasterCard, Inc., Class A	3,976	1,017,777
	Paychex, Inc.	13,242	405,735
	SAIC, Inc.(1)	12,349	233,890
	Total System Services, Inc.	7,750	133,843
	Visa, Inc., Class A	18,466	1,615,036
	Western Union Co. (The)	28,554	538,243
			13,711,989
LEISURE EQUIPMENT & PRODUCTS ― 0.1%
	Eastman Kodak Co.(1)	10,301	43,470
	Hasbro, Inc.	5,284	169,405
	Mattel, Inc.	14,843	296,563
			509,438
LIFE SCIENCES TOOLS & SERVICES ― 0.4%
	Life Technologies Corp.(1)	7,388	385,875
	Millipore Corp.(1)	2,268	164,090
	PerkinElmer, Inc.	4,768	98,173
	Thermo Fisher Scientific, Inc.(1)	16,887	805,341
	Waters Corp.(1)	3,964	245,610
			1,699,089
MACHINERY ― 1.6%
	Caterpillar, Inc.	25,744	1,467,150
	Cummins, Inc.	8,379	384,261
	Danaher Corp.	10,703	804,866
	Deere & Co.	17,531	948,252
	Dover Corp.	7,705	320,605
	Eaton Corp.	6,831	434,588
	Flowserve Corp.	2,317	219,026
	Illinois Tool Works, Inc.	15,913	763,665
	PACCAR, Inc.	15,144	549,273
	Pall Corp.	4,564	165,217
	Parker-Hannifin Corp.	6,607	355,985
	Snap-on, Inc.	2,368	100,072
	Stanley Works (The)	3,381	174,155
			6,687,115
MEDIA ― 2.8%
	CBS Corp., Class B	27,870	391,574
	Comcast Corp., Class A	117,375	1,978,942
	DIRECTV, Class A(1)	39,400	1,313,990
	Gannett Co., Inc.	10,158	150,846
	Interpublic Group of Cos., Inc. (The)(1)	20,725	152,950
	Meredith Corp.	1,653	50,995
	New York Times Co. (The), Class A(1)	5,277	65,224
	News Corp., Class A	93,114	1,274,731
	Omnicom Group, Inc.	12,924	505,975
	Scripps Networks Interactive, Inc., Class A	3,637	150,935
	Time Warner Cable, Inc.	14,637	605,825
	Time Warner, Inc.	48,003	1,398,807
	Viacom, Inc., Class B(1)	25,064	745,153
	Walt Disney Co. (The)	76,983	2,482,702

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Washington Post Co. (The), Class B	243	$ 106,823
			11,375,472
METALS & MINING ― 1.1%
	AK Steel Holding Corp.	4,403	94,004
	Alcoa, Inc.	40,433	651,780
	Allegheny Technologies, Inc.	4,008	179,438
	Cliffs Natural Resources, Inc.	5,299	244,231
	Freeport-McMoRan Copper & Gold, Inc.(1)	17,681	1,419,607
	Newmont Mining Corp.	20,309	960,819
	Nucor Corp.	13,065	609,482
	Titanium Metals Corp.(1)	3,900	48,828
	United States Steel Corp.	5,998	330,610
			4,538,799
MULTILINE RETAIL ― 0.8%
	Big Lots, Inc.(1)	3,556	103,053
	Family Dollar Stores, Inc.	5,497	152,981
	J.C. Penney Co., Inc.	9,765	259,847
	Kohl's Corp.(1)	12,659	682,700
	Macy's, Inc.	17,128	287,065
	Nordstrom, Inc.	6,715	252,350
	Sears Holdings Corp.(1)	2,077	173,326
	Target Corp.	31,136	1,506,048
			3,417,370
MULTI-UTILITIES ― 1.4%
	Ameren Corp.	9,671	270,304
	CenterPoint Energy, Inc.	15,948	231,406
	CMS Energy Corp.	8,902	139,405
	Consolidated Edison, Inc.	11,706	531,804
	Dominion Resources, Inc.	24,696	961,168
	DTE Energy Co.	6,806	296,674
	Integrys Energy Group, Inc.	3,239	136,006
	NiSource, Inc.	11,658	179,300
	PG&E Corp.	15,402	687,699
	Public Service Enterprise Group, Inc.	20,999	698,217
	SCANA Corp.	4,420	166,546
	Sempra Energy	10,206	571,332
	TECO Energy, Inc.	8,746	141,860
	Wisconsin Energy Corp.	4,815	239,931
	Xcel Energy, Inc.	18,964	402,416
			5,654,068
OFFICE ELECTRONICS ― 0.1%
	Xerox Corp.	35,851	303,300
OIL, GAS & CONSUMABLE FUELS ― 9.6%
	Anadarko Petroleum Corp.	20,318	1,268,250
	Apache Corp.	13,915	1,435,611
	Cabot Oil & Gas Corp.	4,278	186,478
	Chesapeake Energy Corp.	26,541	686,881
	Chevron Corp.	82,766	6,372,154
	ConocoPhillips	61,075	3,119,100
	CONSOL Energy, Inc.	7,473	372,155
	Denbury Resources, Inc.(1)	10,600	156,880
	Devon Energy Corp.	18,386	1,351,371

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	El Paso Corp.	28,919	$ 284,274
	EOG Resources, Inc.	10,415	1,013,380
	EQT Corp.	5,422	238,134
	Exxon Mobil Corp.	195,850	13,355,012
	Hess Corp.	12,039	728,360
	Marathon Oil Corp.	29,215	912,092
	Massey Energy Co.	3,524	148,043
	Murphy Oil Corp.	7,895	427,909
	Noble Energy, Inc.	7,186	511,787
	Occidental Petroleum Corp.	33,438	2,720,181
	Peabody Energy Corp.	11,051	499,616
	Pioneer Natural Resources Co.	4,750	228,807
	Range Resources Corp.	6,361	317,096
	Southwestern Energy Co.(1)	14,108	680,006
	Spectra Energy Corp.	26,680	547,207
	Sunoco, Inc.	4,972	129,769
	Tesoro Corp.	6,100	82,655
	Valero Energy Corp.	23,228	389,069
	Williams Cos., Inc. (The)	24,093	507,880
	XTO Energy, Inc.	23,963	1,114,998
			39,785,155
PAPER & FOREST PRODUCTS ― 0.3%
	International Paper Co.	17,879	478,800
	MeadWestvaco Corp.	7,043	201,641
	Weyerhaeuser Co.	8,724	376,353
			1,056,794
PERSONAL PRODUCTS ― 0.3%
	Avon Products, Inc.	17,754	559,251
	Estee Lauder Cos., Inc. (The), Class A	4,976	240,639
	Mead Johnson Nutrition Co., Class A	9,215	402,696
			1,202,586
PHARMACEUTICALS ― 6.4%
	Abbott Laboratories	63,811	3,445,156
	Allergan, Inc.	12,717	801,298
	Bristol-Myers Squibb Co.	67,475	1,703,744
	Eli Lilly & Co.	41,877	1,495,428
	Forest Laboratories, Inc.(1)	12,496	401,247
	Johnson & Johnson	113,906	7,336,685
	King Pharmaceuticals, Inc.(1)	10,702	131,313
	Merck & Co., Inc.	125,978	4,603,236
	Mylan, Inc.(1)	12,546	231,223
	Pfizer, Inc.	332,712	6,052,031
	Watson Pharmaceuticals, Inc.(1)	4,356	172,541
			26,373,902
PROFESSIONAL SERVICES ― 0.1%
	Dun & Bradstreet Corp.	2,099	177,093
	Equifax, Inc.	5,378	166,126
	Monster Worldwide, Inc.(1)	5,489	95,509
	Robert Half International, Inc.	6,321	168,960
			607,688
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 1.2%
	Apartment Investment & Management Co., Class A	5,108	81,319

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	AvalonBay Communities, Inc.	3,307	$ 271,538
	Boston Properties, Inc.	5,610	376,263
	Equity Residential	11,226	379,214
	HCP, Inc.	12,224	373,321
	Health Care REIT, Inc.	5,055	224,038
	Host Hotels & Resorts, Inc.(1)	26,844	313,269
	Kimco Realty Corp.	16,788	227,142
	Plum Creek Timber Co., Inc.	6,729	254,087
	ProLogis	19,676	269,364
	Public Storage	5,601	456,201
	Simon Property Group, Inc.	11,799	941,560
	Ventas, Inc.	6,474	283,173
	Vornado Realty Trust	6,455	451,463
			4,901,952
REAL ESTATE MANAGEMENT & DEVELOPMENT(3)
	CB Richard Ellis Group, Inc., Class A(1)	11,042	149,840
ROAD & RAIL ― 1.0%
	Burlington Northern Santa Fe Corp.	10,847	1,069,731
	CSX Corp.	16,225	786,750
	Norfolk Southern Corp.	15,224	798,042
	Ryder System, Inc.	2,396	98,644
	Union Pacific Corp.	20,700	1,322,730
			4,075,897
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 2.6%
	Advanced Micro Devices, Inc.(1)	23,184	224,421
	Altera Corp.	12,028	272,194
	Analog Devices, Inc.	12,009	379,244
	Applied Materials, Inc.	55,421	772,569
	Broadcom Corp., Class A(1)	17,849	561,351
	Intel Corp.	227,505	4,641,102
	KLA-Tencor Corp.	7,008	253,409
	Linear Technology Corp.	9,288	283,656
	LSI Corp.(1)	26,531	159,451
	MEMC Electronic Materials, Inc.(1)	9,556	130,153
	Microchip Technology, Inc.	7,484	217,485
	Micron Technology, Inc.(1)	35,158	371,268
	National Semiconductor Corp.	9,610	147,610
	Novellus Systems, Inc.(1)	4,263	99,498
	NVIDIA Corp.(1)	22,903	427,828
	Teradyne, Inc.(1)	7,674	82,342
	Texas Instruments, Inc.	51,414	1,339,849
	Xilinx, Inc.	11,331	283,955
			10,647,385
SOFTWARE ― 4.3%
	Adobe Systems, Inc.(1)	21,712	798,567
	Autodesk, Inc.(1)	9,703	246,553
	BMC Software, Inc.(1)	7,618	305,482
	CA, Inc.	16,445	369,355
	Citrix Systems, Inc.(1)	7,588	315,737
	Compuware Corp.(1)	8,747	63,241
	Electronic Arts, Inc.(1)	13,334	236,678
	Intuit, Inc.(1)	12,931	397,111

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	McAfee, Inc.(1)	6,600	$ 267,762
	Microsoft Corp.	318,713	9,717,559
	Novell, Inc.(1)	14,691	60,968
	Oracle Corp.	161,226	3,956,486
	Red Hat, Inc.(1)	7,769	240,062
	salesforce.com, inc.(1)	4,475	330,121
	Symantec Corp.(1)	33,135	592,785
			17,898,467
SPECIALTY RETAIL ― 1.9%
	Abercrombie & Fitch Co., Class A	3,747	130,583
	AutoNation, Inc.(1)	3,773	72,253
	AutoZone, Inc.(1)	1,266	200,117
	Bed Bath & Beyond, Inc.(1)	10,814	417,745
	Best Buy Co., Inc.	14,155	558,556
	GameStop Corp., Class A(1)	6,552	143,751
	Gap, Inc. (The)	19,398	406,388
	Home Depot, Inc. (The)	70,063	2,026,922
	Limited Brands, Inc.	11,011	211,852
	Lowe's Cos., Inc.	60,517	1,415,493
	Office Depot, Inc.(1)	11,746	75,762
	O'Reilly Automotive, Inc.(1)	5,754	219,342
	RadioShack Corp.	5,417	105,631
	Ross Stores, Inc.	5,209	222,476
	Sherwin-Williams Co. (The)	3,960	244,134
	Staples, Inc.	29,920	735,733
	Tiffany & Co.	5,014	215,602
	TJX Cos., Inc. (The)	17,194	628,441
			8,030,781
TEXTILES, APPAREL & LUXURY GOODS ― 0.5%
	Coach, Inc.	13,202	482,269
	NIKE, Inc., Class B	16,110	1,064,388
	Polo Ralph Lauren Corp.	2,278	184,472
	VF Corp.	3,661	268,132
			1,999,261
THRIFTS & MORTGAGE FINANCE ― 0.1%
	Hudson City Bancorp., Inc.	19,590	268,971
	People's United Financial, Inc.	14,176	236,739
			505,710
TOBACCO ― 1.5%
	Altria Group, Inc.	85,759	1,683,449
	Lorillard, Inc.	6,584	528,234
	Philip Morris International, Inc.	78,508	3,783,301
	Reynolds American, Inc.	6,990	370,260
			6,365,244
TRADING COMPANIES & DISTRIBUTORS ― 0.1%
	Fastenal Co.	5,292	220,359
	W.W. Grainger, Inc.	2,550	246,916
			467,275
WIRELESS TELECOMMUNICATION SERVICES ― 0.3%
	American Tower Corp., Class A(1)	16,606	717,545

MetroPCS Communications, Inc.(1)

10,800

82,404

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Shares/

Principal

Amount

Value

	Sprint Nextel Corp.(1)		123,851	$ 453,295
				1,253,244
TOTAL COMMON STOCKS
	(Cost $320,454,080)			409,522,605
TEMPORARY CASH INVESTMENTS - SEGREGATED FOR FUTURES CONTRACTS — 1.6%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares			37,126	37,126
Repurchase Agreement, Goldman Sachs Group, Inc., (collateralized by various U.S. Treasury obligations, 4.50%-6.125%, 11/15/27-2/15/36, valued at $5,414,793), in a joint trading account at 0.001%, dated 12/31/09, due 1/4/10 (Delivery value $5,300,001)				5,300,000
U.S. Treasury Bill, 0.12%, 5/6/10(4)		$1,130,000		1,129,609
TOTAL TEMPORARY CASH INVESTMENTS - SEGREGATED FOR FUTURES CONTRACTS
	(Cost $6,466,647)			6,466,735
TOTAL INVESTMENT SECURITIES — 100.7%
	(Cost $326,920,727)			415,989,340
OTHER ASSETS AND LIABILITIES — (0.7)%				(2,961,483)
TOTAL NET ASSETS — 100.0%				$413,027,857

FUTURES CONTRACTS

Contracts Purchased		Expiration Date	Underlying Face Amount at Value	Unrealized Gain (Loss)
131	S&P 500 E-Mini Futures	March 2010	$7,275,085	$91,451

Notes to Schedule of Investments

(1)	Non-income producing.
(2)	Security, or a portion thereof, has been segregated for futures contracts. At the period end, the aggregate value of securities pledged was $7,275,100.
(3)	Industry is less than 0.05% of total net assets.

(4) The rate indicated is the yield to maturity at purchase.

Equity Index – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Common Stocks	$409,522,605	–	–
Temporary Cash Investments	37,126	$6,429,609	–
Total Value of Investment Securities	$409,559,731	$6,429,609	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Futures Contracts	$ 91,451	–	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$353,282,937
Gross tax appreciation of investments	$114,670,278
Gross tax depreciation of investments	(51,963,875)
Net tax appreciation (depreciation) of investments	$ 62,706,403

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

Real Estate Fund

December 31, 2009

Real Estate – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 99.9%
DIVERSIFIED REAL ESTATE ACTIVITIES ― 2.0%
	Brookfield Asset Management, Inc., Class A	802,400	$ 17,797,232
DIVERSIFIED REITs ― 4.0%
	Vornado Realty Trust	511,386	35,766,342
HEALTH CARE FACILITIES ― 1.1%
	Emeritus Corp.(1)	504,700	9,463,125
HOTELS, RESORTS & CRUISE LINES ― 0.5%
	Marriott International, Inc., Class A	176,604	4,812,459
INDUSTRIAL REITs ― 8.3%
	AMB Property Corp.	1,241,800	31,727,990
	ProLogis	3,079,947	42,164,474
			73,892,464
OFFICE REITs ― 16.9%
	Alexandria Real Estate Equities, Inc.	620,200	39,872,658
	BioMed Realty Trust, Inc.	326,100	5,145,858
	Boston Properties, Inc.	454,355	30,473,590
	Corporate Office Properties Trust	167,000	6,117,210
	Digital Realty Trust, Inc.	599,550	30,145,374
	Douglas Emmett, Inc.	163,400	2,328,450
	SL Green Realty Corp.	719,518	36,148,584
			150,231,724
OTHER DIVERSIFIED FINANCIAL SERVICES ― 1.3%
	Citigroup, Inc.	3,549,900	11,750,169
REAL ESTATE OPERATING COMPANIES ― 1.0%
	Forest City Enterprises, Inc., Class A(1)	748,978	8,822,961
REAL ESTATE SERVICES ― 1.9%
	CB Richard Ellis Group, Inc., Class A(1)	1,219,900	16,554,043
RESIDENTIAL REITs ― 20.4%
	American Campus Communities, Inc.	532,709	14,969,123
	AvalonBay Communities, Inc.	491,163	40,329,394
	Equity LifeStyle Properties, Inc.	249,000	12,567,030
	Equity Residential	1,518,100	51,281,418
	Essex Property Trust, Inc.	168,500	14,095,025
	Home Properties, Inc.	225,722	10,769,197
	Mid-America Apartment Communities, Inc.	254,068	12,266,403
	Post Properties, Inc.	612,969	12,014,192
	UDR, Inc.	830,579	13,654,719
			181,946,501
RETAIL REITs ― 19.2%
	CBL & Associates Properties, Inc.	440,963	4,264,112
	Federal Realty Investment Trust	161,802	10,957,232
	General Growth Properties, Inc.	1,000	11,560
	Kimco Realty Corp.	1,233,358	16,687,334
	Macerich Co. (The)	619,995	22,288,809
	Regency Centers Corp.	404,000	14,164,240
	Simon Property Group, Inc.	1,287,974	102,780,325
			171,153,612
SPECIALIZED REITs ― 23.3%
	HCP, Inc.	960,298	29,327,501

Real Estate – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Health Care REIT, Inc.	367,934	$ 16,306,835
	Host Hotels & Resorts, Inc.(1)	2,598,962	30,329,886
	Nationwide Health Properties, Inc.	196,500	6,912,870
	Omega Healthcare Investors, Inc.	515,400	10,024,530
	Pebblebrook Hotel Trust(1)	380,506	8,374,937
	Plum Creek Timber Co., Inc.	236,000	8,911,360
	Public Storage	677,889	55,214,059
	Rayonier, Inc.	214,200	9,030,672
	Sovran Self Storage, Inc.	160,500	5,734,665
	Ventas, Inc.	621,100	27,166,914
			207,334,229
TOTAL COMMON STOCKS
	(Cost $638,655,525)		889,524,861
TEMPORARY CASH INVESTMENTS — 0.6%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares		50,309	50,309

Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $5,179,702), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $5,100,006)			5,100,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $5,150,309)		5,150,309
TOTAL INVESTMENT SECURITIES — 100.5%
	(Cost $643,805,834)		894,675,170
OTHER ASSETS AND LIABILITIES — (0.5)%			(4,125,060)
TOTAL NET ASSETS — 100.0%			$890,550,110

Notes to Schedule of Investments
	REIT	-	Real Estate Investment Trust

(1)	Non-income producing.

Real Estate – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Common Stocks	$889,524,861	–	–
Temporary Cash Investments	50,309	$5,100,000	–
Total Value of Investment Securities	$889,575,170	$5,100,000	–

Real Estate – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

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 nine months ended December 31, 2009 follows:
	December 31, 2009
Company	Share Balance March 31, 2009	Purchase Cost	Sales Cost	Realized Gain (Loss)	Dividend Income	Share Balance	Market Value
Parkway Properties, Inc.(1)	–	$13,367,936	$13,367,936	$(715,497)	$173,680	–	– (1)

(1) Company was not an affiliate at December 31, 2009.

4. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$784,588,071
Gross tax appreciation of investments	$112,559,484
Gross tax depreciation of investments	(2,472,385)
Net tax appreciation (depreciation) of investments	$110,087,099

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

NT Large Company Value Fund

December 31, 2009

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 96.3%
AEROSPACE & DEFENSE ― 2.3%
	Honeywell International, Inc.	52,700	$ 2,065,840
	Lockheed Martin Corp.	17,200	1,296,020
	Northrop Grumman Corp.	47,300	2,641,705
			6,003,565
BEVERAGES ― 1.4%
	Coca-Cola Co. (The)	64,900	3,699,300
BIOTECHNOLOGY ― 0.8%
	Amgen, Inc.(1)	25,300	1,431,221
	Gilead Sciences, Inc.(1)	13,700	592,936
			2,024,157
CAPITAL MARKETS ― 4.1%
	Ameriprise Financial, Inc.	53,000	2,057,460
	Bank of New York Mellon Corp. (The)	91,900	2,570,443
	Goldman Sachs Group, Inc. (The)	23,600	3,984,624
	Morgan Stanley	71,100	2,104,560
			10,717,087
CHEMICALS ― 2.1%
	E.I. du Pont de Nemours & Co.	91,300	3,074,071
	PPG Industries, Inc.	40,300	2,359,162
			5,433,233
COMMERCIAL BANKS ― 3.8%
	PNC Financial Services Group, Inc.	32,900	1,736,791
	U.S. Bancorp.	140,200	3,155,902
	Wells Fargo & Co.	182,925	4,937,146
			9,829,839
COMMERCIAL SERVICES & SUPPLIES ― 1.6%
	Avery Dennison Corp.	25,500	930,495
	Pitney Bowes, Inc.	39,300	894,468
	R.R. Donnelley & Sons Co.	53,200	1,184,764
	Waste Management, Inc.	36,400	1,230,684
			4,240,411
COMMUNICATIONS EQUIPMENT ― 0.7%
	Cisco Systems, Inc.(1)	78,500	1,879,290
COMPUTERS & PERIPHERALS ― 1.2%
	Hewlett-Packard Co.	58,100	2,992,731
CONSTRUCTION & ENGINEERING ― 0.2%
	Shaw Group, Inc. (The)(1)	21,800	626,750
DIVERSIFIED ― 1.1%
	Standard & Poor's 500 Depositary Receipt, Series 1	25,600	2,852,864
DIVERSIFIED CONSUMER SERVICES ― 0.7%
	H&R Block, Inc.	76,600	1,732,692
DIVERSIFIED FINANCIAL SERVICES ― 6.7%
	Bank of America Corp.	481,600	7,252,896
	Citigroup, Inc.	341,487	1,130,322
	JPMorgan Chase & Co.	212,500	8,854,875
			17,238,093
DIVERSIFIED TELECOMMUNICATION SERVICES ― 6.6%
	AT&T, Inc.(2)	358,400	10,045,952

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	CenturyTel, Inc.	29,700	$ 1,075,437
	Verizon Communications, Inc.	180,100	5,966,713
			17,088,102
ELECTRIC UTILITIES ― 2.5%
	Exelon Corp.	73,100	3,572,397
	PPL Corp.	89,000	2,875,590
			6,447,987
ENERGY EQUIPMENT & SERVICES ― 1.9%
	Baker Hughes, Inc.	25,000	1,012,000
	Diamond Offshore Drilling, Inc.	6,700	659,414
	National Oilwell Varco, Inc.	47,100	2,076,639
	Smith International, Inc.	15,400	418,418
	Transocean Ltd.(1)	7,600	629,280
			4,795,751
FOOD & STAPLES RETAILING ― 3.3%
	Kroger Co. (The)	80,100	1,644,453
	SYSCO Corp.	51,200	1,430,528
	Walgreen Co.	66,800	2,452,896
	Wal-Mart Stores, Inc.	54,700	2,923,715
			8,451,592
FOOD PRODUCTS ― 1.0%
	Kraft Foods, Inc., Class A	48,600	1,320,948
	Unilever NV New York Shares	42,800	1,383,724
			2,704,672
HEALTH CARE EQUIPMENT & SUPPLIES ― 0.4%
	Medtronic, Inc.	24,400	1,073,112
HEALTH CARE PROVIDERS & SERVICES ― 1.3%
	Aetna, Inc.	38,200	1,210,940
	Quest Diagnostics, Inc.	13,000	784,940
	WellPoint, Inc.(1)	24,000	1,398,960
			3,394,840
HOTELS, RESTAURANTS & LEISURE ― 0.6%
	Darden Restaurants, Inc.	23,800	834,666
	Starbucks Corp.(1)	27,500	634,150
			1,468,816
HOUSEHOLD DURABLES ― 0.6%
	Newell Rubbermaid, Inc.	99,400	1,491,994
HOUSEHOLD PRODUCTS ― 0.5%
	Clorox Co.	21,700	1,323,700
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS ― 0.2%
	NRG Energy, Inc.(1)	26,300	620,943
INDUSTRIAL CONGLOMERATES ― 3.8%
	General Electric Co.(2)	559,200	8,460,696
	Tyco International Ltd.(1)	35,700	1,273,776
			9,734,472
INSURANCE ― 4.1%
	Allstate Corp. (The)	80,100	2,406,204
	Chubb Corp. (The)	33,400	1,642,612
	Loews Corp.	32,400	1,177,740
	Torchmark Corp.	37,400	1,643,730
	Travelers Cos., Inc. (The)	57,400	2,861,964

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	XL Capital Ltd., Class A	42,800	$ 784,524
			10,516,774
IT SERVICES ― 1.5%
	Fiserv, Inc.(1)	19,500	945,360
	International Business Machines Corp.	22,900	2,997,610
			3,942,970
MACHINERY ― 1.6%
	Dover Corp.	44,900	1,868,289
	Ingersoll-Rand plc	60,000	2,144,400
			4,012,689
MEDIA ― 4.0%
	CBS Corp., Class B	132,000	1,854,600
	Comcast Corp., Class A	135,900	2,291,274
	Time Warner Cable, Inc.	29,200	1,208,588
	Time Warner, Inc.	96,700	2,817,838
	Viacom, Inc., Class B(1)	69,600	2,069,208
			10,241,508
METALS & MINING ― 0.7%
	Nucor Corp.	38,200	1,782,030
MULTILINE RETAIL ― 0.6%
	Kohl's Corp.(1)	25,800	1,391,394
	Macy's, Inc.	15,000	251,400
			1,642,794
MULTI-UTILITIES ― 0.7%
	PG&E Corp.	43,000	1,919,950
OFFICE ELECTRONICS ― 0.4%
	Xerox Corp.	136,000	1,150,560
OIL, GAS & CONSUMABLE FUELS ― 16.4%
	Apache Corp.	29,200	3,012,564
	Chevron Corp.	117,500	9,046,325
	ConocoPhillips	142,000	7,251,940
	Devon Energy Corp.	24,300	1,786,050
	Exxon Mobil Corp.	172,000	11,728,680
	Occidental Petroleum Corp.	37,600	3,058,760
	Royal Dutch Shell plc, Class A ADR	99,400	5,974,934
	Valero Energy Corp.	38,000	636,500
			42,495,753
PAPER & FOREST PRODUCTS ― 0.5%
	International Paper Co.	46,700	1,250,626
PHARMACEUTICALS ― 9.6%
	Abbott Laboratories(2)	43,700	2,359,363
	Eli Lilly & Co.	41,400	1,478,394
	Johnson & Johnson	79,100	5,094,831
	Merck & Co., Inc.	145,100	5,301,954
	Pfizer, Inc.	580,400	10,557,476
			24,792,018
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 0.6%
	Simon Property Group, Inc.	19,608	1,564,718
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 1.1%
	Applied Materials, Inc.	65,900	918,646

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Intel Corp.	96,700	$ 1,972,680
			2,891,326
SOFTWARE ― 2.3%
	Activision Blizzard, Inc.(1)	53,400	593,274
	Microsoft Corp.	104,300	3,180,107
	Oracle Corp.	92,100	2,260,134
			6,033,515
SPECIALTY RETAIL ― 2.3%
	Best Buy Co., Inc.	21,800	860,228
	Gap, Inc. (The)	49,100	1,028,645
	Home Depot, Inc. (The)	98,100	2,838,033
	Staples, Inc.	47,000	1,155,730
			5,882,636
TEXTILES, APPAREL & LUXURY GOODS ― 0.5%
	VF Corp.	18,300	1,340,292
TOTAL COMMON STOCKS
	(Cost $223,998,090)		249,326,152
CONVERTIBLE PREFERRED STOCKS — 0.2%
DIVERSIFIED FINANCIAL SERVICES ― 0.2%
	Bank of America Corp., 10.00%, 12/31/49(3)
	(Cost $595,920)	39,728	592,742
TEMPORARY CASH INVESTMENTS - SEGREGATED FOR FUTURES CONTRACTS — 2.9%
Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $7,727,913), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $7,609,008) (Cost $7,609,000)			7,609,000
TEMPORARY CASH INVESTMENTS — 0.4%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares		15,583	15,583

Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $904,924), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $891,001)			891,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $906,583)		906,583
TOTAL INVESTMENT SECURITIES — 99.8%
	(Cost $233,109,593)		258,434,477
OTHER ASSETS AND LIABILITIES — 0.2%			480,635
TOTAL NET ASSETS — 100.0%			$258,915,112

FUTURES CONTRACTS

Contracts Purchased		Expiration Date	Underlying Face Amount at Value	Unrealized Gain (Loss)
137	S&P 500 E-Mini Futures	March 2010	$7,608,295	$96,194

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Notes to Schedule of Investments
	ADR	-	American Depositary Receipt

(1)	Non-income producing.
(2)	Security, or a portion thereof, has been segregated for futures contracts. At the period end, the aggregate value of securities pledged was $7,609,000.
(3)	Perpetual security. These securities do not have a predetermined maturity date. The coupon rates are fixed for a period of time and may be structured to adjust thereafter. Interest reset or next call date is indicated, as applicable.

NT Large Company Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Common Stocks	$249,326,152	–	–
Convertible Preferred Stocks	–	$ 592,742	–
Temporary Cash Investments	15,583	8,500,000	–
Total Value of Investment Securities	$249,341,735	$9,092,742	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Futures Contracts	$96,194	–	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$239,424,114
Gross tax appreciation of investments	$ 25,712,523
Gross tax depreciation of investments	(6,702,160)
Net tax appreciation (depreciation) of investments	$ 19,010,363

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

American Century Investments®

Quarterly Portfolio Holdings

NT Mid Cap Value Fund

December 31, 2009

NT Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

COMMON STOCKS — 99.6%
AEROSPACE & DEFENSE ― 0.7%
	Northrop Grumman Corp.	15,500	$ 865,675
AIRLINES ― 0.3%
	Southwest Airlines Co.	32,538	371,909
BEVERAGES ― 0.7%
	Coca-Cola Enterprises, Inc.	20,600	436,720
	Pepsi Bottling Group, Inc.	8,600	322,500
			759,220
BIOTECHNOLOGY ― 0.3%
	Talecris Biotherapeutics Holdings Corp.(1)	13,370	297,750
CAPITAL MARKETS ― 4.6%
	AllianceBernstein Holding LP	26,100	733,410
	Ameriprise Financial, Inc.	13,583	527,292
	Northern Trust Corp.	66,889	3,504,984
	State Street Corp.	13,400	583,436
			5,349,122
CHEMICALS ― 0.8%
	International Flavors & Fragrances, Inc.	8,198	337,266
	Minerals Technologies, Inc.	11,070	602,983
			940,249
COMMERCIAL BANKS ― 1.6%
	City National Corp.	11,300	515,280
	Commerce Bancshares, Inc.	35,606	1,378,664
			1,893,944
COMMERCIAL SERVICES & SUPPLIES ― 6.1%
	IESI-BFC Ltd.	62,283	997,774
	Pitney Bowes, Inc.	77,800	1,770,728
	Republic Services, Inc.	67,698	1,916,530
	Waste Management, Inc.	72,696	2,457,852
			7,142,884
COMMUNICATIONS EQUIPMENT ― 0.8%
	Emulex Corp.(1)	85,900	936,310
COMPUTERS & PERIPHERALS ― 0.9%
	Diebold, Inc.	37,314	1,061,583
CONSTRUCTION MATERIALS ― 0.7%
	Vulcan Materials Co.	15,100	795,317
CONTAINERS & PACKAGING ― 1.5%
	Bemis Co., Inc.	40,211	1,192,256
	Sonoco Products Co.	20,400	596,700
			1,788,956
DISTRIBUTORS ― 1.5%
	Genuine Parts Co.	46,756	1,774,858
DIVERSIFIED ― 2.6%
	iShares Russell Midcap Value Index Fund	82,800	3,061,944
DIVERSIFIED TELECOMMUNICATION SERVICES ― 3.2%
	BCE, Inc.	47,325	1,312,258
	CenturyTel, Inc.	49,780	1,802,534
	Iowa Telecommunications Services, Inc.	33,537	562,080
			3,676,872

NT Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

ELECTRIC UTILITIES ― 5.1%
	American Electric Power Co., Inc.	5,991	$ 208,427
	Great Plains Energy, Inc.	6,382	123,747
	IDACORP, Inc.	58,279	1,862,014
	Northeast Utilities	35,130	906,003
	Portland General Electric Co.	48,071	981,129
	Westar Energy, Inc.	88,131	1,914,205
			5,995,525
ELECTRICAL EQUIPMENT ― 1.6%
	Emerson Electric Co.	14,000	596,400
	Hubbell, Inc., Class B	25,981	1,228,901
	Woodward Governor Co.	2,700	69,579
			1,894,880
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS ― 1.3%
	AVX Corp.	15,527	196,727
	Molex, Inc.	61,058	1,315,800
			1,512,527
ENERGY EQUIPMENT & SERVICES ― 1.0%
	Baker Hughes, Inc.	9,300	376,464
	BJ Services Co.	29,400	546,840
	Helmerich & Payne, Inc.	5,300	211,364
			1,134,668
FOOD PRODUCTS ― 7.6%
	Campbell Soup Co.	53,600	1,811,680
	ConAgra Foods, Inc.	106,907	2,464,206
	H.J. Heinz Co.	48,500	2,073,860
	Hershey Co. (The)	17,900	640,641
	Kellogg Co.	11,100	590,520
	Kraft Foods, Inc., Class A	47,500	1,291,050
			8,871,957
GAS UTILITIES ― 1.0%
	Southwest Gas Corp.	38,878	1,109,189
HEALTH CARE EQUIPMENT & SUPPLIES ― 3.2%
	Beckman Coulter, Inc.	14,055	919,759
	Boston Scientific Corp.(1)	81,800	736,200
	CareFusion Corp.(1)	11,950	298,870
	Covidien plc	4,900	234,661
	Symmetry Medical, Inc.(1)	111,207	896,328
	Zimmer Holdings, Inc.(1)	10,300	608,833
			3,694,651
HEALTH CARE PROVIDERS & SERVICES ― 2.7%
	Cardinal Health, Inc.	20,100	648,024
	LifePoint Hospitals, Inc.(1)	41,600	1,352,416
	Patterson Cos., Inc.(1)	21,900	612,762
	Select Medical Holdings Corp.(1)	47,119	500,404
			3,113,606
HEALTH CARE TECHNOLOGY ― 0.2%
	IMS Health, Inc.	11,700	246,402
HOTELS, RESTAURANTS & LEISURE ― 3.9%
	CEC Entertainment, Inc.(1)	45,500	1,452,360
	Hyatt Hotels Corp., Class A(1)	13,111	390,839
	International Speedway Corp., Class A	53,315	1,516,812

NT Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Speedway Motorsports, Inc.	67,439	$ 1,188,275
			4,548,286
HOUSEHOLD DURABLES ― 1.5%
	Fortune Brands, Inc.	41,400	1,788,480
HOUSEHOLD PRODUCTS ― 1.7%
	Kimberly-Clark Corp.	30,295	1,930,095
INSURANCE ― 14.4%
	ACE Ltd.(1)	33,000	1,663,200
	Allstate Corp. (The)	49,200	1,477,968
	Aon Corp.	87,700	3,362,418
	Chubb Corp. (The)	54,300	2,670,474
	HCC Insurance Holdings, Inc.	41,491	1,160,503
	Marsh & McLennan Cos., Inc.	189,954	4,194,184
	Transatlantic Holdings, Inc.	15,625	814,219
	Travelers Cos., Inc. (The)	29,800	1,485,828
			16,828,794
IT SERVICES ― 0.5%
	Automatic Data Processing, Inc.	13,700	586,634
LEISURE EQUIPMENT & PRODUCTS ― 0.4%
	Mattel, Inc.	23,400	467,532
MACHINERY ― 3.3%
	Altra Holdings, Inc.(1)	107,326	1,325,476
	Dover Corp.	11,800	490,998
	Kaydon Corp.	49,832	1,781,993
	Robbins & Myers, Inc.	12,300	289,296
			3,887,763
METALS & MINING ― 0.6%
	Newmont Mining Corp.	15,278	722,802
MULTILINE RETAIL ― 1.1%
	Family Dollar Stores, Inc.	25,300	704,099
	Target Corp.	12,400	599,788
			1,303,887
MULTI-UTILITIES ― 3.9%
	Ameren Corp.	10,126	283,022
	PG&E Corp.	10,300	459,895
	Wisconsin Energy Corp.	55,360	2,758,589
	Xcel Energy, Inc.	49,897	1,058,814
			4,560,320
OIL, GAS & CONSUMABLE FUELS ― 7.2%
	Apache Corp.	6,748	696,191
	EOG Resources, Inc.	6,200	603,260
	EQT Corp.	35,142	1,543,437
	Imperial Oil Ltd.	82,700	3,215,166
	Murphy Oil Corp.	17,400	943,080
	Noble Energy, Inc.	19,200	1,367,424
			8,368,558
PAPER & FOREST PRODUCTS ― 0.5%
	Weyerhaeuser Co.	12,606	543,823
REAL ESTATE INVESTMENT TRUSTS (REITs) ― 2.3%
	Boston Properties, Inc.	9,758	654,469
	Government Properties Income Trust	38,771	890,957

NT Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

Value

	Host Hotels & Resorts, Inc.(1)	98,786	$ 1,152,833
			2,698,259
ROAD & RAIL ― 0.3%
	Heartland Express, Inc.	22,900	349,683
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT ― 1.8%
	Applied Materials, Inc.	88,900	1,239,266
	KLA-Tencor Corp.	3,500	126,560
	Verigy Ltd.(1)	58,800	756,756
			2,122,582
SOFTWARE ― 0.9%
	Cadence Design Systems, Inc.(1)	109,700	657,103
	Synopsys, Inc.(1)	15,800	352,024
			1,009,127
SPECIALTY RETAIL ― 3.2%
	Lowe's Cos., Inc.	108,700	2,542,493
	PetSmart, Inc.	42,400	1,131,656
			3,674,149
THRIFTS & MORTGAGE FINANCE ― 2.1%
	Hudson City Bancorp., Inc.	60,100	825,173
	Northwest Bancshares, Inc.	35,617	403,182
	People's United Financial, Inc.	73,233	1,222,991
			2,451,346
TOTAL COMMON STOCKS
	(Cost $98,295,028)		116,132,118
TEMPORARY CASH INVESTMENTS — 0.4%
JPMorgan U.S. Treasury Plus Money Market Fund Agency Shares		41,523	41,523
Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 10/31/14, valued at $507,814), in a joint trading account at 0.01%, dated 12/31/09, due 1/4/10 (Delivery value $500,001)			500,000
TOTAL TEMPORARY CASH INVESTMENTS
	(Cost $541,523)		541,523
TOTAL INVESTMENT SECURITIES — 100.0%
	(Cost $98,836,551)		116,673,641
OTHER ASSETS AND LIABILITIES(2)			(55,572)
TOTAL NET ASSETS — 100.0%			$116,618,069

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS

Contracts to Sell					Settlement Date	Value	Unrealized Gain (Loss)
5,250,515			CAD for USD		1/29/10	$5,020,332	$38,357
(Value on Settlement Date $5,058,689)


Notes to Schedule of Investments
	CAD	-		Canadian Dollar
	USD	-		United States Dollar

(1)	Non-income producing.
(2)	Category is less than 0.05% if total net assets.

NT Mid Cap Value – Schedule of Investments

DECEMBER 31, 2009 (UNAUDITED)

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Security Valuations

2. Fair Value Measurements

• Level 1 valuation inputs consist of actual quoted prices in an active market for identical securities;

• Level 2 valuation inputs consist of significant direct or indirect observable market data

(including quoted prices for similar securities, evaluations of subsequent market events, interest

rates, prepayment speeds, credit risk, etc.); or

• Level 3 valuation inputs consist of significant unobservable inputs (including a fund’s own assumptions).

The following is a summary of the valuation inputs used to determine the fair value of the fund’s securities and other financial instruments as of December 31, 2009:

	Level 1	Level 2	Level 3
Investment Securities
Domestic Common Stocks	$107,952,303	–	–
Foreign Common Stocks	3,652,391	$4,527,424	–
Temporary Cash Investments	41,523	500,000	–
Total Value of Investment Securities	$111,646,217	$5,027,424	–
Other Financial Instruments
Total Unrealized Gain (Loss) on Forward Foreign Currency Exchange Contracts	–	$ 38,357	–

3. Federal Tax Information

As of December 31, 2009, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$105,143,779
Gross tax appreciation of investments	$ 11,789,540
Gross tax depreciation of investments	(259,678)
Net tax appreciation (depreciation) of investments	$ 11,529,862

The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

ITEM 2. CONTROLS AND PROCEDURES.

(a)

The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications by the registrant’s principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:	AMERICAN CENTURY CAPITAL PORTFOLIOS, INC.


By:	/s/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President

Date:	February 25, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President
		(principal executive officer)

Date:	February 25, 2010

By:	/s/ Robert J. Leach
	Name:	Robert J. Leach
	Title:	Vice President, Treasurer, and
		Chief Financial Officer
		(principal financial officer)

Date:	February 25, 2010