NPORT-EX 2 ahln_avantinflfocuseqetf.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
Avantis® Inflation Focused Equity ETF (AVIE)
May 31, 2023


Avantis Inflation Focused Equity ETF - Schedule of Investments
MAY 31, 2023 (UNAUDITED)
Shares
Value ($)
COMMON STOCKS — 99.6%
Beverages — 8.6%
Boston Beer Co., Inc., Class A(1)
31 10,462 
Brown-Forman Corp., Class A
130 8,170 
Brown-Forman Corp., Class B
767 47,378 
Celsius Holdings, Inc.(1)
130 16,319 
Coca-Cola Co.
5,963 355,753 
Coca-Cola Consolidated, Inc.
13 8,603 
Constellation Brands, Inc., Class A
299 72,648 
Duckhorn Portfolio, Inc.(1)
130 1,694 
Keurig Dr Pepper, Inc.
1,482 46,120 
MGP Ingredients, Inc.
53 5,038 
Molson Coors Beverage Co., Class B
507 31,358 
Monster Beverage Corp.(1)
1,560 91,447 
National Beverage Corp.(1)
91 4,497 
PepsiCo, Inc.
2,681 488,880 
Vita Coco Co., Inc.(1)
104 2,775 
1,191,142 
Biotechnology — 9.9%
AbbVie, Inc.
1,885 260,055 
Alkermes PLC(1)
335 9,692 
Alnylam Pharmaceuticals, Inc.(1)
205 37,927 
Amgen, Inc.
704 155,338 
Apellis Pharmaceuticals, Inc.(1)
234 20,089 
Biogen, Inc.(1)
286 84,773 
BioMarin Pharmaceutical, Inc.(1)
390 33,907 
Cerevel Therapeutics Holdings, Inc.(1)
130 4,238 
CRISPR Therapeutics AG(1)(2)
182 11,655 
Cytokinetics, Inc.(1)
247 9,309 
Denali Therapeutics, Inc.(1)
16 483 
Exact Sciences Corp.(1)
195 15,908 
Exelixis, Inc.(1)
572 11,028 
Gilead Sciences, Inc.
2,420 186,195 
Halozyme Therapeutics, Inc.(1)
377 12,226 
Horizon Therapeutics PLC(1)
247 24,707 
Incyte Corp.(1)
351 21,604 
Intellia Therapeutics, Inc.(1)
130 4,844 
Ionis Pharmaceuticals, Inc.(1)
364 14,888 
Karuna Therapeutics, Inc.(1)
65 14,726 
Moderna, Inc.(1)
546 69,730 
Natera, Inc.(1)
76 3,580 
Neurocrine Biosciences, Inc.(1)
221 19,786 
Regeneron Pharmaceuticals, Inc.(1)
143 105,185 
Sarepta Therapeutics, Inc.(1)
221 27,316 
Seagen, Inc.(1)
273 53,426 
United Therapeutics Corp.(1)
130 27,266 
Vertex Pharmaceuticals, Inc.(1)
392 126,839 
1,366,720 
Chemicals — 3.9%
AdvanSix, Inc.
78 2,566 
American Vanguard Corp.
143 2,440 


Cabot Corp.
299 20,476 
CF Industries Holdings, Inc.
897 55,174 
Chemours Co.
949 25,139 
Core Molding Technologies, Inc.(1)
35 644 
Corteva, Inc.
1,907 102,005 
Dow, Inc.
2,093 102,097 
FMC Corp.
312 32,473 
Hawkins, Inc.
78 3,661 
Huntsman Corp.
455 10,806 
Intrepid Potash, Inc.(1)
39 686 
Koppers Holdings, Inc.
86 2,491 
Kronos Worldwide, Inc.
130 1,072 
LSB Industries, Inc.(1)
130 1,209 
LyondellBasell Industries NV, Class A
910 77,841 
Mativ Holdings, Inc.
143 2,154 
Mosaic Co.
1,001 31,992 
Olin Corp.
676 31,982 
Origin Materials, Inc.(1)
338 1,430 
Orion Engineered Carbons SA
283 6,563 
PureCycle Technologies, Inc.(1)
533 3,672 
Scotts Miracle-Gro Co.
131 8,279 
Trinseo PLC
91 1,130 
Tronox Holdings PLC, Class A
338 3,596 
Westlake Corp.
104 10,811 
542,389 
Energy Equipment and Services — 3.7%
Archrock, Inc.
784 7,056 
Baker Hughes Co.
2,533 69,024 
Bristow Group, Inc.(1)
87 2,127 
Cactus, Inc., Class A
244 7,706 
ChampionX Corp.
863 21,799 
Core Laboratories, Inc.
104 2,275 
Diamond Offshore Drilling, Inc.(1)
585 6,406 
DMC Global, Inc.(1)
91 1,476 
Dril-Quip, Inc.(1)
159 3,554 
Expro Group Holdings NV(1)
395 6,553 
Halliburton Co.
2,083 59,678 
Helix Energy Solutions Group, Inc.(1)
808 5,074 
Helmerich & Payne, Inc.
416 12,846 
KLX Energy Services Holdings, Inc.(1)
55 437 
Liberty Energy, Inc., Class A
767 9,005 
Nabors Industries Ltd.(1)
39 3,264 
Newpark Resources, Inc.(1)
187 647 
NexTier Oilfield Solutions, Inc.(1)
949 7,155 
Nine Energy Service, Inc.(1)
81 243 
Noble Corp. PLC(1)
417 15,738 
NOV, Inc.
1,456 20,486 
Oceaneering International, Inc.(1)
432 6,614 
Oil States International, Inc.(1)
145 922 
Patterson-UTI Energy, Inc.
910 8,863 
ProFrac Holding Corp., Class A(1)
117 1,313 
ProPetro Holding Corp.(1)
478 3,188 
RPC, Inc.
384 2,554 
Schlumberger NV
2,938 125,835 
Select Water Solutions, Inc., Class A
208 1,510 


Solaris Oilfield Infrastructure, Inc., Class A
143 1,048 
TechnipFMC PLC(1)
2,249 29,552 
TETRA Technologies, Inc.(1)
520 1,352 
Tidewater, Inc.(1)
240 10,754 
Transocean Ltd.(1)
3,097 17,715 
US Silica Holdings, Inc.(1)
315 3,569 
Valaris Ltd.(1)
247 14,259 
Weatherford International PLC(1)
301 16,988 
508,585 
Financial Services — 5.5%
Berkshire Hathaway, Inc., Class B(1)
2,366 759,675 
Cannae Holdings, Inc.(1)
365 7,172 
766,847 
Food Products — 1.6%
Alico, Inc.
52 1,204 
Archer-Daniels-Midland Co.
1,508 106,540 
Bunge Ltd.
468 43,356 
Darling Ingredients, Inc.(1)
559 35,429 
Fresh Del Monte Produce, Inc.
195 5,140 
Ingredion, Inc.
247 25,836 
217,505 
Health Care Providers and Services — 9.5%
AdaptHealth Corp.(1)
221 2,316 
AmerisourceBergen Corp.
445 75,717 
Cardinal Health, Inc.
793 65,264 
Centene Corp.(1)
1,300 81,133 
Elevance Health, Inc.
416 186,293 
HealthEquity, Inc.(1)
221 12,111 
Henry Schein, Inc.(1)
234 17,293 
Humana, Inc.
286 143,535 
McKesson Corp.
299 116,861 
Molina Healthcare, Inc.(1)
182 49,850 
Owens & Minor, Inc.(1)
117 2,376 
Patterson Cos., Inc.
247 6,469 
Progyny, Inc.(1)
217 8,083 
UnitedHealth Group, Inc.
1,113 542,298 
1,309,599 
Household Products — 7.2%
Central Garden & Pet Co.(1)
39 1,416 
Central Garden & Pet Co., Class A(1)
156 5,359 
Church & Dwight Co., Inc.
611 56,487 
Clorox Co.
468 74,028 
Colgate-Palmolive Co.
2,340 174,049 
Energizer Holdings, Inc.
273 8,900 
Kimberly-Clark Corp.
1,079 144,888 
Procter & Gamble Co.
3,591 511,717 
Reynolds Consumer Products, Inc.
195 5,351 
Spectrum Brands Holdings, Inc.
117 8,448 
WD-40 Co.
52 9,862 
1,000,505 
Insurance — 10.1%
Aflac, Inc.
1,404 90,151 
Allstate Corp.
455 49,345 
Ambac Financial Group, Inc.(1)
182 2,535 


American Equity Investment Life Holding Co.
208 8,206 
American Financial Group, Inc.
195 21,893 
American International Group, Inc.
1,512 79,879 
AMERISAFE, Inc.
52 2,655 
Arch Capital Group Ltd.(1)
988 68,864 
Argo Group International Holdings Ltd.
65 1,905 
Assurant, Inc.
104 12,479 
Assured Guaranty Ltd.
130 6,727 
Axis Capital Holdings Ltd.
234 12,145 
Brighthouse Financial, Inc.(1)
221 8,897 
Chubb Ltd.
624 115,939 
Cincinnati Financial Corp.
403 38,889 
CNA Financial Corp.
52 1,917 
CNO Financial Group, Inc.
221 4,798 
Donegal Group, Inc., Class A
91 1,309 
Employers Holdings, Inc.
91 3,291 
Enstar Group Ltd.(1)
13 3,060 
Erie Indemnity Co., Class A
78 16,700 
Everest Re Group Ltd.
104 35,362 
F&G Annuities & Life, Inc.
29 600 
Fidelity National Financial, Inc.
468 15,978 
First American Financial Corp.
195 10,711 
Genworth Financial, Inc., Class A(1)
1,885 10,085 
Globe Life, Inc.
234 24,144 
Greenlight Capital Re Ltd., A Shares(1)
169 1,624 
Hanover Insurance Group, Inc.
65 7,245 
Hartford Financial Services Group, Inc.
858 58,790 
Horace Mann Educators Corp.
104 3,125 
James River Group Holdings Ltd.
117 2,239 
Kemper Corp.
171 7,401 
Kinsale Capital Group, Inc.
65 19,694 
Lemonade, Inc.(1)(2)
78 1,374 
Lincoln National Corp.
247 5,167 
Loews Corp.
429 24,024 
Markel Group, Inc.(1)
23 30,239 
MBIA, Inc.(1)
143 1,138 
Mercury General Corp.
52 1,561 
MetLife, Inc.
1,105 54,753 
National Western Life Group, Inc., Class A
12 4,476 
Old Republic International Corp.
832 20,376 
Oscar Health, Inc., Class A(1)
273 2,004 
Palomar Holdings, Inc.(1)
78 4,263 
Primerica, Inc.
130 23,663 
Principal Financial Group, Inc.
656 42,942 
ProAssurance Corp.
130 1,579 
Progressive Corp.
988 126,375 
Prudential Financial, Inc.
637 50,126 
Reinsurance Group of America, Inc.
234 32,760 
RenaissanceRe Holdings Ltd.
104 19,590 
RLI Corp.
117 14,490 
Safety Insurance Group, Inc.
52 3,787 
Selective Insurance Group, Inc.
130 12,575 
SiriusPoint Ltd.(1)
286 2,663 
Stewart Information Services Corp.
52 2,332 


Tiptree, Inc.
130 1,715 
Travelers Cos., Inc.
520 88,005 
Trupanion, Inc.(1)(2)
52 1,168 
United Fire Group, Inc.
78 1,675 
Universal Insurance Holdings, Inc.
130 1,865 
Unum Group
676 29,372 
W R Berkley Corp.
481 26,782 
White Mountains Insurance Group Ltd.
13 17,604 
1,399,025 
Metals and Mining — 5.3%
Alcoa Corp.
535 16,970 
Alpha Metallurgical Resources, Inc.
104 14,037 
Arconic Corp.(1)
509 14,715 
ATI, Inc.(1)
559 19,330 
Carpenter Technology Corp.
214 9,760 
Century Aluminum Co.(1)
221 1,733 
Cleveland-Cliffs, Inc.(1)
2,186 30,342 
Coeur Mining, Inc.(1)
1,252 3,756 
Commercial Metals Co.
585 25,009 
Compass Minerals International, Inc.
157 4,982 
Freeport-McMoRan, Inc.
3,462 118,885 
Gatos Silver, Inc.(1)
210 945 
Haynes International, Inc.
65 2,822 
Hecla Mining Co.
2,042 10,884 
Ivanhoe Electric, Inc.(1)
334 4,172 
Kaiser Aluminum Corp.
64 3,866 
Materion Corp.
91 9,131 
MP Materials Corp.(1)
221 4,579 
Newmont Corp.
2,240 90,832 
Nucor Corp.
1,019 134,569 
Olympic Steel, Inc.
65 2,718 
Piedmont Lithium, Inc.(1)
52 2,848 
Ramaco Resources, Inc.
156 1,156 
Reliance Steel & Aluminum Co.
234 54,915 
Royal Gold, Inc.
210 26,006 
Ryerson Holding Corp.
102 3,467 
Schnitzer Steel Industries, Inc., Class A
126 3,466 
Steel Dynamics, Inc.
780 71,682 
SunCoke Energy, Inc.
537 3,646 
TimkenSteel Corp.(1)
173 2,946 
Tredegar Corp.
143 1,005 
United States Steel Corp.
1,018 21,297 
Warrior Met Coal, Inc.
260 8,523 
Worthington Industries, Inc.
130 7,297 
732,291 
Oil, Gas and Consumable Fuels — 22.1%
Antero Midstream Corp.
819 8,362 
Antero Resources Corp.(1)
832 16,981 
APA Corp.
780 24,788 
Arch Resources, Inc.
65 6,718 
Ardmore Shipping Corp.
143 1,675 
Berry Corp.
182 1,147 
California Resources Corp.
195 7,320 
Callon Petroleum Co.(1)
91 2,787 


Centrus Energy Corp., Class A(1)
39 1,150 
Cheniere Energy, Inc.
455 63,595 
Chesapeake Energy Corp.
351 26,413 
Chevron Corp.
2,730 411,193 
Chord Energy Corp.
117 16,736 
Civitas Resources, Inc.
182 12,158 
Clean Energy Fuels Corp.(1)
416 1,672 
CNX Resources Corp.(1)
503 7,771 
Comstock Resources, Inc.(2)
325 3,029 
ConocoPhillips2,418 240,107 
CONSOL Energy, Inc.
104 5,612 
Coterra Energy, Inc.
2,171 50,476 
Crescent Energy Co., Class A(2)
104 979 
CVR Energy, Inc.(2)
104 2,435 
Delek US Holdings, Inc.
208 4,580 
Denbury, Inc.(1)
130 11,722 
Devon Energy Corp.
1,677 77,310 
DHT Holdings, Inc.
442 3,399 
Diamondback Energy, Inc.
416 52,894 
Dorian LPG Ltd.
104 2,400 
DT Midstream, Inc.
247 11,229 
Earthstone Energy, Inc., Class A(1)
156 1,874 
EnLink Midstream LLC(1)
689 6,725 
Enviva, Inc.
16 140 
EOG Resources, Inc.
1,170 125,529 
EQT Corp.
1,014 35,257 
Equitrans Midstream Corp.
1,508 12,863 
Excelerate Energy, Inc., Class A
65 1,206 
Exxon Mobil Corp.
6,773 692,065 
Green Plains, Inc.(1)
169 4,901 
Gulfport Energy Corp.(1)
26 2,523 
Hess Corp.
676 85,629 
Hess Midstream LP, Class A
117 3,263 
HF Sinclair Corp.
507 21,010 
HighPeak Energy, Inc.
65 802 
International Seaways, Inc.
156 5,624 
Kimbell Royalty Partners LP
156 2,298 
Kinder Morgan, Inc.
3,250 52,357 
Kinetik Holdings, Inc.(2)
39 1,269 
Kosmos Energy Ltd.(1)
1,729 10,305 
Magnolia Oil & Gas Corp., Class A
481 9,298 
Marathon Oil Corp.
1,690 37,450 
Marathon Petroleum Corp.
1,090 114,352 
Matador Resources Co.
325 14,290 
Murphy Oil Corp.
312 10,858 
New Fortress Energy, Inc.
117 3,074 
NextDecade Corp.(1)
64 355 
Nordic American Tankers Ltd.
676 2,373 
Northern Oil & Gas, Inc.
246 7,358 
Occidental Petroleum Corp.
1,599 92,198 
ONEOK, Inc.
858 48,614 
Ovintiv, Inc.
663 21,925 
Par Pacific Holdings, Inc.(1)
169 3,603 
PBF Energy, Inc., Class A
390 14,356 


PDC Energy, Inc.
234 16,057 
Peabody Energy Corp.
414 7,518 
Permian Resources Corp.
442 4,124 
Phillips 66
1,144 104,802 
Pioneer Natural Resources Co.
416 82,967 
Plains GP Holdings LP, Class A(1)
559 7,602 
Range Resources Corp.
806 22,060 
Ranger Oil Corp., Class A
65 2,389 
REX American Resources Corp.(1)
52 1,713 
SandRidge Energy, Inc.
117 1,576 
Scorpio Tankers, Inc.
169 7,735 
SFL Corp. Ltd.
325 2,789 
SilverBow Resources, Inc.(1)
65 1,552 
Sitio Royalties Corp., Class A
243 6,192 
SM Energy Co.
377 9,911 
Southwestern Energy Co.(1)
3,770 17,983 
Talos Energy, Inc.(1)
247 3,041 
Targa Resources Corp.
546 37,155 
Teekay Corp.(1)
377 2,115 
Teekay Tankers Ltd., Class A
78 2,818 
Texas Pacific Land Corp.
13 16,948 
Uranium Energy Corp.(1)
416 1,077 
Valero Energy Corp.
988 105,756 
Viper Energy Partners LP
182 4,692 
Vital Energy, Inc.(1)
52 2,157 
W&T Offshore, Inc.(1)
273 1,057 
Williams Cos., Inc.
2,119 60,731 
World Fuel Services Corp.
143 3,270 
3,060,169 
Pharmaceuticals — 9.8%
Bristol-Myers Squibb Co.
2,249 144,926 
Catalent, Inc.(1)
285 10,611 
Elanco Animal Health, Inc.(1)
299 2,437 
Eli Lilly & Co.
857 368,047 
Intra-Cellular Therapies, Inc.(1)
138 8,194 
Jazz Pharmaceuticals PLC(1)
91 11,663 
Johnson & Johnson
1,352 209,641 
Merck & Co., Inc.
2,930 323,501 
Organon & Co.
221 4,285 
Perrigo Co. PLC
209 6,680 
Pfizer, Inc.
4,407 167,554 
Royalty Pharma PLC, Class A
429 14,045 
Viatris, Inc.
1,794 16,415 
Zoetis, Inc.
416 67,812 
1,355,811 
Specialized REITs — 0.7%
PotlatchDeltic Corp.
367 17,076 
Rayonier, Inc.
468 13,722 
Weyerhaeuser Co.
2,254 64,600 
95,398 
Specialty Retail†
GrowGeneration Corp.(1)
81 300 
Tobacco — 1.7%
Philip Morris International, Inc.
2,420 217,824 


Universal Corp.
78 4,021 
Vector Group Ltd.
491 5,750 
227,595 
TOTAL COMMON STOCKS
(Cost $15,430,710)
13,773,881 
SHORT-TERM INVESTMENTS — 0.2%
Money Market Funds — 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class
11,143 11,143 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
11,467 11,467 
TOTAL SHORT-TERM INVESTMENTS
(Cost $22,610)
22,610 
TOTAL INVESTMENT SECURITIES — 99.8%
(Cost $15,453,320)
13,796,491 
OTHER ASSETS AND LIABILITIES — 0.2%
32,419 
TOTAL NET ASSETS — 100.0%
$13,828,910 

NOTES TO SCHEDULE OF INVESTMENTS
†Category is less than 0.05% of total net assets.
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $11,657. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $11,980, which includes securities collateral of $513.


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 Directors 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 investment 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.