NPORT-EX 2 acav_q1holdings154.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
One Choice® Portfolio: Very Conservative
October 31, 2023


One Choice Portfolio: Very Conservative - Schedule of Investments
OCTOBER 31, 2023 (UNAUDITED)
Shares
Value ($)
UNDERLYING FUNDS(1) — 100.0%
Domestic Fixed Income Funds — 58.9%
Diversified Bond Fund Investor Class
7,859,092 67,823,960 
High Income Fund Investor Class
517,540 4,140,318 
Inflation-Adjusted Bond Fund Investor Class
4,268,101 43,321,224 
Short Duration Fund Investor Class
6,665,671 63,990,443 
Short Duration Inflation Protection Bond Fund Investor Class
5,125,224 51,200,984 
230,476,929 
Domestic Equity Funds — 22.9%
Disciplined Growth Fund Investor Class(2)
254,058 5,317,429 
Focused Large Cap Value Fund Investor Class
2,647,589 24,543,146 
Growth Fund Investor Class
169,591 7,458,604 
Heritage Fund Investor Class(2)
459,882 8,480,216 
Mid Cap Value Fund Investor Class
884,508 12,683,844 
Real Estate Fund Investor Class
189,807 4,010,615 
Small Cap Growth Fund Investor Class(2)
128,418 1,993,042 
Small Cap Value Fund Investor Class
237,211 2,023,413 
Sustainable Equity Fund Investor Class
549,871 23,171,580 
89,681,889 
International Fixed Income Funds — 18.2%
Emerging Markets Debt Fund Investor Class
973,699 8,140,127 
Global Bond Fund Investor Class
4,355,370 35,626,925 
International Bond Fund Investor Class(2)
2,813,941 27,661,039 
71,428,091 
TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $405,157,853)
391,586,909 
OTHER ASSETS AND LIABILITIES†
(2)
TOTAL NET ASSETS — 100.0%
$391,586,907 

NOTES TO SCHEDULE OF INVESTMENTS
†Category is less than 0.05% of total net assets.
(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.
(2)Non-income producing.


SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

The fund invests in a combination of underlying American Century Investments funds. The fund’s asset allocation is intended to diversify investments among stocks, bonds, and short-term investments. The portfolio holdings of each underlying fund are available at americancentury.com or upon request at 1-800-345-2021.

2. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Directors oversees the valuation designee and reviews its valuation policies and procedures at least annually. Investments in the underlying funds are valued at their reported NAV.

3. Fair Value Measurements

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels. 

•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars. 

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

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

As of period end, the fund's investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.



4. Affiliated Fund Transactions

A summary of transactions for each underlying fund for the period ended October 31, 2023 follows (amounts in thousands):
Fund/Underlying Fund(1)
Beginning
Value		Purchase
Cost		Sales
Cost
Change in Net
Unrealized
Appreciation
(Depreciation)
Ending
Value		Ending
Shares		Net
Realized
Gain
(Loss)
Distributions
Received(2)
Diversified Bond Fund
$74,696 $743 $3,868 $(3,747)$67,824 7,859 $(669)$743 
High Income Fund
4,964 73 838 (59)4,140 518 (122)73 
Inflation-Adjusted Bond Fund
48,882 — 4,247 (1,314)43,321 4,268 (565)— 
Short Duration Fund
64,964 1,742 2,532 (184)63,990 6,666 (226)707 
Short Duration Inflation Protection Bond Fund
57,617 — 6,654 238 51,201 5,125 (360)— 
Disciplined Growth Fund(3)
5,688 — — (371)5,317 254 — — 
Focused Large Cap Value Fund
28,117 121 1,589 (2,106)24,543 2,648 18 121 
Growth Fund
8,016 12 — (569)7,459 170 — — 
Heritage Fund(3)
10,699 — 783 (1,436)8,480 460 (31)— 
Mid Cap Value Fund
15,040 55 791 (1,620)12,684 885 21 55 
Real Estate Fund
4,774 27 325 (465)4,011 190 (39)27 
Small Cap Growth Fund(3)
2,558 — 238 (327)1,993 128 (70)— 
Small Cap Value Fund
2,493 7 73 (404)2,023 237 (1)7 
Sustainable Equity Fund
27,068 — 1,577 (2,319)23,172 550 152 — 
Emerging Markets Debt Fund
9,589 88 1,093 (444)8,140 974 (187)87 
Global Bond Fund
40,159 185 3,953 (764)35,627 4,355 (781)185 
International Bond Fund(3)
31,279 — 2,094 (1,523)27,662 2,814 (548)— 
$436,603 $3,053 $30,655 $(17,414)$391,587 38,101 $(3,408)$2,005 
(1)Underlying fund investments represent Investor Class.
(2)Distributions received includes distributions from net investment income and from capital gains, if any.
(3)Non-income producing.
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.