NPORT-EX 2 acxg_usqualvaletf.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
American Century® U.S. Quality Value ETF (VALQ)
May 31, 2023


American Century U.S. Quality Value ETF - Schedule of Investments
MAY 31, 2023 (UNAUDITED) 
Shares
Value ($)
COMMON STOCKS — 99.4%
Aerospace and Defense — 1.4%
Textron, Inc.
45,151 2,793,492 
Air Freight and Logistics — 0.5%
United Parcel Service, Inc., Class B
5,967 996,489 
Automobile Components — 0.2%
BorgWarner, Inc.
8,672 384,430 
Banks — 0.2%
Bank OZK
11,126 384,737 
Beverages — 2.3%
Coca-Cola Co.
26,399 1,574,965 
Coca-Cola Consolidated, Inc.
855 565,788 
Monster Beverage Corp.(1)
6,994 409,988 
National Beverage Corp.(1)
31,529 1,558,163 
PepsiCo, Inc.
2,766 504,380 
4,613,284 
Biotechnology — 3.7%
Amgen, Inc.
6,203 1,368,692 
Biogen, Inc.(1)
1,523 451,432 
Exelixis, Inc.(1)
23,727 457,457 
Gilead Sciences, Inc.
63,615 4,894,538 
United Therapeutics Corp.(1)
1,874 393,053 
7,565,172 
Broadline Retail — 1.0%
Dillard's, Inc., Class A
2,288 629,909 
eBay, Inc.
24,250 1,031,595 
Macy's, Inc.
27,435 372,842 
2,034,346 
Building Products — 1.9%
A O Smith Corp.
6,073 388,307 
Allegion PLC
7,012 734,437 
Fortune Brands Innovations, Inc.
6,446 389,661 
Owens Corning
21,639 2,300,875 
3,813,280 
Capital Markets — 0.9%
Affiliated Managers Group, Inc.
2,830 393,625 
Evercore, Inc., Class A
4,051 437,305 
Franklin Resources, Inc.
20,803 499,480 
Lazard Ltd., Class A
5,720 164,107 
SEI Investments Co.
7,002 396,173 
1,890,690 
Chemicals — 1.7%
Chemours Co.
13,973 370,145 
Dow, Inc.
7,799 380,435 
Eastman Chemical Co.
1,257 96,902 
Linde PLC
1,145 404,941 
LyondellBasell Industries NV, Class A
15,600 1,334,424 
Olin Corp.
10,641 503,426 
Westlake Corp.
3,612 375,467 
3,465,740 
Commercial Services and Supplies — 1.7%
Cintas Corp.
2,639 1,245,977 


Rollins, Inc.
56,714 2,229,995 
3,475,972 
Communications Equipment — 3.5%
Cisco Systems, Inc.
82,851 4,115,209 
F5, Inc.(1)
12,128 1,789,850 
Juniper Networks, Inc.
39,917 1,212,280 
7,117,339 
Construction and Engineering — 1.0%
EMCOR Group, Inc.
12,423 2,047,807 
Consumer Finance — 0.7%
Discover Financial Services
3,977 408,597 
OneMain Holdings, Inc.
10,790 408,509 
Synchrony Financial
16,515 511,305 
1,328,411 
Consumer Staples Distribution & Retail — 2.3%
Kroger Co.
63,891 2,896,179 
Walmart, Inc.
12,390 1,819,719 
4,715,898 
Containers and Packaging — 0.6%
Graphic Packaging Holding Co.
15,947 381,133 
Packaging Corp. of America
6,181 766,630 
1,147,763 
Distributors — 0.9%
Genuine Parts Co.
9,386 1,397,857 
LKQ Corp.
9,358 493,634 
1,891,491 
Electrical Equipment — 1.1%
Acuity Brands, Inc.
5,975 900,373 
Eaton Corp. PLC
723 127,176 
Emerson Electric Co.
1,263 98,110 
Hubbell, Inc.
3,673 1,037,475 
2,163,134 
Electronic Equipment, Instruments and Components — 2.1%
Cognex Corp.
7,778 427,479 
Jabil, Inc.
33,277 2,978,957 
Keysight Technologies, Inc.(1)
2,573 416,311 
Sanmina Corp.(1)
7,803 413,871 
4,236,618 
Entertainment — 0.2%
Activision Blizzard, Inc.(1)
5,121 410,704 
Financial Services — 3.6%
Essent Group Ltd.
9,783 432,115 
Euronet Worldwide, Inc.(1)
11,396 1,269,514 
FleetCor Technologies, Inc.(1)
1,975 447,436 
Jack Henry & Associates, Inc.
2,722 416,167 
MGIC Investment Corp.
134,180 2,028,802 
PayPal Holdings, Inc.(1)
6,536 405,167 
Visa, Inc., Class A
1,877 414,873 
Western Union Co.
133,847 1,524,517 
WEX, Inc.(1)
2,317 384,275 
7,322,866 
Food Products — 1.8%
Campbell Soup Co.
7,812 394,897 
Conagra Brands, Inc.
11,505 401,179 
General Mills, Inc.
6,458 543,505 


Hershey Co.
3,673 953,878 
Ingredion, Inc.
4,154 434,509 
Kellogg Co.
5,913 394,811 
Lancaster Colony Corp.
1,961 385,494 
Mondelez International, Inc., Class A
1,557 114,299 
3,622,572 
Ground Transportation — 0.4%
CSX Corp.
12,819 393,159 
XPO, Inc.(1)
8,653 406,085 
799,244 
Health Care Equipment and Supplies — 0.3%
Edwards Lifesciences Corp.(1)
4,782 402,788 
IDEXX Laboratories, Inc.(1)
220 102,249 
505,037 
Health Care Providers and Services — 7.4%
AmerisourceBergen Corp.
2,574 437,966 
AMN Healthcare Services, Inc.(1)
4,286 406,998 
Cardinal Health, Inc.
52,817 4,346,839 
Centene Corp.(1)
6,231 388,877 
Chemed Corp.
4,480 2,391,290 
Cigna Group
1,609 398,083 
DaVita, Inc.(1)
4,982 466,664 
Elevance Health, Inc.
886 396,768 
Henry Schein, Inc.(1)
5,273 389,675 
Humana, Inc.
823 413,039 
McKesson Corp.
10,565 4,129,224 
Quest Diagnostics, Inc.
3,091 410,021 
UnitedHealth Group, Inc.
845 411,718 
14,987,162 
Hotels, Restaurants and Leisure — 3.5%
Booking Holdings, Inc.(1)
154 386,351 
Boyd Gaming Corp.
31,844 2,029,418 
Chipotle Mexican Grill, Inc.(1)
247 512,893 
Darden Restaurants, Inc.
7,571 1,200,155 
Expedia Group, Inc.(1)
19,163 1,834,091 
Marriott International, Inc., Class A
2,390 401,018 
Texas Roadhouse, Inc.
5,349 577,157 
Travel + Leisure Co.
2,739 99,891 
7,040,974 
Household Durables — 0.7%
Lennar Corp., Class A
4,801 514,283 
NVR, Inc.(1)
92 510,988 
PulteGroup, Inc.
6,169 407,648 
1,432,919 
Household Products — 4.0%
Clorox Co.
8,850 1,399,893 
Colgate-Palmolive Co.
10,297 765,891 
Kimberly-Clark Corp.
32,693 4,390,016 
Procter & Gamble Co.
11,198 1,595,715 
8,151,515 
Industrial Conglomerates — 0.6%
3M Co.
12,247 1,142,768 
Insurance — 1.9%
Axis Capital Holdings Ltd.
7,395 383,801 
Everest Re Group Ltd.
1,110 377,422 


Hartford Financial Services Group, Inc.
5,702 390,701 
Loews Corp.
6,997 391,832 
Old Republic International Corp.
16,164 395,856 
Reinsurance Group of America, Inc.
2,817 394,380 
Unum Group
35,608 1,547,168 
3,881,160 
Interactive Media and Services — 1.6%
Alphabet, Inc., Class A(1)
4,511 554,266 
Meta Platforms, Inc., Class A(1)
9,854 2,608,551 
3,162,817 
IT Services — 6.7%
Accenture PLC, Class A
12,659 3,872,641 
Akamai Technologies, Inc.(1)
14,732 1,357,112 
Amdocs Ltd.
38,687 3,643,155 
Cognizant Technology Solutions Corp., Class A
44,823 2,800,989 
Gartner, Inc.(1)
2,606 893,493 
International Business Machines Corp.
3,952 508,188 
VeriSign, Inc.(1)
2,271 507,160 
13,582,738 
Life Sciences Tools and Services — 0.7%
Medpace Holdings, Inc.(1)
4,052 838,643 
Mettler-Toledo International, Inc.(1)
374 494,379 
1,333,022 
Machinery — 3.9%
Donaldson Co., Inc.
46,369 2,713,978 
Graco, Inc.
5,263 402,567 
Illinois Tool Works, Inc.
5,330 1,165,831 
Lincoln Electric Holdings, Inc.
7,309 1,240,045 
Mueller Industries, Inc.
5,788 429,817 
PACCAR, Inc.
5,956 409,654 
Parker-Hannifin Corp.
308 98,695 
Snap-on, Inc.
1,683 418,831 
Timken Co.
6,734 481,818 
Watts Water Technologies, Inc., Class A
2,479 392,797 
Xylem, Inc.
973 97,495 
7,851,528 
Media — 2.3%
Charter Communications, Inc., Class A(1)
1,204 392,685 
Comcast Corp., Class A
11,667 459,097 
Fox Corp., Class A
12,926 403,291 
Interpublic Group of Cos., Inc.
37,707 1,402,323 
New York Times Co., Class A
11,145 394,756 
News Corp., Class A
22,675 415,179 
Nexstar Media Group, Inc., Class A
2,550 384,846 
Omnicom Group, Inc.
5,243 462,380 
TEGNA, Inc.
25,107 388,907 
4,703,464 
Metals and Mining — 0.5%
Reliance Steel & Aluminum Co.
2,851 669,073 
Steel Dynamics, Inc.
4,228 388,553 
1,057,626 
Oil, Gas and Consumable Fuels — 3.9%
APA Corp.
11,950 379,771 
Chesapeake Energy Corp.
5,395 405,974 
Chord Energy Corp.
3,332 476,609 


Exxon Mobil Corp.
3,808 389,101 
Marathon Oil Corp.
17,141 379,845 
Marathon Petroleum Corp.
23,642 2,480,282 
PBF Energy, Inc., Class A
10,655 392,211 
PDC Energy, Inc.
5,650 387,703 
Peabody Energy Corp.
32,034 581,737 
Phillips 66
12,711 1,164,455 
SM Energy Co.
14,370 377,787 
Valero Energy Corp.
3,602 385,558 
7,801,033 
Personal Care Products — 0.4%
Coty, Inc., Class A(1)
79,190 858,420 
Pharmaceuticals — 3.8%
Bristol-Myers Squibb Co.
6,091 392,504 
Eli Lilly & Co.
1,973 847,325 
Jazz Pharmaceuticals PLC(1)
3,108 398,321 
Johnson & Johnson
33,594 5,209,086 
Merck & Co., Inc.
4,747 524,116 
Pfizer, Inc.
10,223 388,678 
7,760,030 
Professional Services — 1.2%
CACI International, Inc., Class A(1)
1,376 411,727 
Concentrix Corp.
4,245 372,286 
CoStar Group, Inc.(1)
5,162 409,863 
Insperity, Inc.
2,383 263,846 
ManpowerGroup, Inc.
3,376 236,894 
Paychex, Inc.
3,723 390,654 
TriNet Group, Inc.(1)
4,754 422,488 
2,507,758 
Real Estate Management and Development — 0.2%
CBRE Group, Inc., Class A(1)
5,390 403,819 
Retail REITs — 0.3%
NNN REIT, Inc.
2,365 100,607 
Simon Property Group, Inc.
5,073 533,426 
634,033 
Semiconductors and Semiconductor Equipment — 2.6%
Allegro MicroSystems, Inc.(1)
10,789 424,332 
Applied Materials, Inc.
3,940 525,202 
Broadcom, Inc.
2,483 2,006,165 
Cirrus Logic, Inc.(1)
5,349 415,510 
Lam Research Corp.
866 534,062 
Microchip Technology, Inc.
6,924 521,100 
ON Semiconductor Corp.(1)
5,222 436,559 
Qorvo, Inc.(1)
4,305 418,704 
5,281,634 
Software — 7.1%
Adobe, Inc.(1)
1,094 457,062 
ANSYS, Inc.(1)
339 109,697 
Cadence Design Systems, Inc.(1)
1,969 454,662 
Dolby Laboratories, Inc., Class A
5,022 414,466 
Dropbox, Inc., Class A(1)
58,189 1,339,511 
Fair Isaac Corp.(1)
133 104,760 
Fortinet, Inc.(1)
5,951 406,632 
Manhattan Associates, Inc.(1)
11,748 2,131,322 
Microsoft Corp.
7,364 2,418,264 
Qualys, Inc.(1)
10,115 1,277,120 


ServiceNow, Inc.(1)
810 441,272 
SPS Commerce, Inc.(1)
2,533 394,641 
Synopsys, Inc.(1)
8,595 3,910,381 
VMware, Inc., Class A(1)
3,616 492,825 
14,352,615 
Specialized REITs — 0.2%
Weyerhaeuser Co.
13,882 397,858 
Specialty Retail — 5.8%
Asbury Automotive Group, Inc.(1)
1,963 410,483 
AutoNation, Inc.(1)
8,663 1,134,160 
AutoZone, Inc.(1)
164 391,442 
Best Buy Co., Inc.
13,314 967,528 
Dick's Sporting Goods, Inc.
3,253 414,790 
Home Depot, Inc.
3,885 1,101,203 
Murphy USA, Inc.
1,530 422,922 
O'Reilly Automotive, Inc.(1)
4,554 4,113,674 
Penske Automotive Group, Inc.
4,299 594,208 
Ulta Beauty, Inc.(1)
2,708 1,109,820 
Williams-Sonoma, Inc.
8,970 1,018,185 
11,678,415 
Technology Hardware, Storage and Peripherals — 3.8%
Apple, Inc.
30,706 5,442,638 
Hewlett Packard Enterprise Co.
39,528 569,994 
HP, Inc.
42,875 1,245,948 
NetApp, Inc.
6,278 416,545 
7,675,125 
Textiles, Apparel and Luxury Goods — 1.0%
NIKE, Inc., Class B
3,725 392,094 
PVH Corp.
6,671 573,839 
Ralph Lauren Corp.
1,748 185,830 
Skechers USA, Inc., Class A(1)
7,927 407,210 
Tapestry, Inc.
9,772 391,075 
1,950,048 
Tobacco — 0.4%
Altria Group, Inc.
9,068 402,800 
Philip Morris International, Inc.
4,360 392,444 
795,244 
Trading Companies and Distributors — 0.9%
Applied Industrial Technologies, Inc.
3,200 393,472 
Watsco, Inc.
317 102,825 
WW Grainger, Inc.
1,949 1,264,940 
1,761,237 
TOTAL COMMON STOCKS
(Cost $195,260,027)
200,911,478 
SHORT-TERM INVESTMENTS — 0.3%
Money Market Funds — 0.3%
State Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost $585,646)
585,646 585,646 
TOTAL INVESTMENT SECURITIES — 99.7%
(Cost $195,845,673)
201,497,124 
OTHER ASSETS AND LIABILITIES — 0.3%
592,819 
TOTAL NET ASSETS — 100.0%
$202,089,943 

NOTES TO SCHEDULE OF INVESTMENTS
(1)Non-income producing.


SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 

1. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The 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 Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually. 

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Open-end management investment companies are valued at the reported NAV per share.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

2. Fair Value Measurements

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

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

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

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

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

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.
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.