American Century Investments®

Quarterly Portfolio Holdings

American Century® Focused Dynamic Growth ETF (FDG)

May 31, 2023

Focused Dynamic Growth ETF - Schedule of Investments

MAY 31, 2023 (UNAUDITED)

	Shares	Value ($)
COMMON STOCKS — 99.5%
Aerospace and Defense — 0.7%
Rocket Lab USA, Inc.(1)(2)	233,326	1,068,633
Automobiles — 6.0%
Tesla, Inc.(1)	45,459	9,270,454
Beverages — 5.7%
Boston Beer Co., Inc., Class A(1)	4,543	1,533,263
Constellation Brands, Inc., Class A	29,831	7,248,038
		8,781,301
Biotechnology — 9.7%
Alnylam Pharmaceuticals, Inc.(1)	20,505	3,793,630
Argenx SE, ADR(1)	7,879	3,062,567
Ascendis Pharma A/S, ADR(1)	13,402	1,165,572
Blueprint Medicines Corp.(1)	16,398	926,815
Regeneron Pharmaceuticals, Inc.(1)	8,373	6,158,844
		15,107,428
Broadline Retail — 7.8%
Amazon.com, Inc.(1)	100,686	12,140,718
Capital Markets — 2.1%
Intercontinental Exchange, Inc.	16,570	1,755,592
S&P Global, Inc.	4,270	1,568,926
		3,324,518
Electronic Equipment, Instruments and Components — 3.9%
Cognex Corp.	36,102	1,984,166
Keysight Technologies, Inc.(1)	25,429	4,114,412
		6,098,578
Energy Equipment and Services — 1.2%
Cactus, Inc., Class A	59,019	1,863,820
Entertainment — 2.3%
Netflix, Inc.(1)	8,952	3,538,099
Financial Services — 8.8%
Block, Inc.(1)	36,504	2,204,476
Mastercard, Inc., Class A	16,138	5,890,693
Visa, Inc., Class A	25,027	5,531,718
		13,626,887
Health Care Equipment and Supplies — 4.1%
Intuitive Surgical, Inc.(1)	18,326	5,641,476
Silk Road Medical, Inc.(1)	23,943	722,839
		6,364,315
Hotels, Restaurants and Leisure — 3.7%
Chipotle Mexican Grill, Inc.(1)	2,750	5,710,347
Interactive Media and Services — 8.2%
Alphabet, Inc., Class C(1)	103,088	12,717,966
IT Services — 3.0%
Okta, Inc.(1)	51,131	4,647,808
Machinery — 4.6%
Graco, Inc.	46,078	3,524,506
Westinghouse Air Brake Technologies Corp.	38,196	3,538,096
		7,062,602
Professional Services — 4.0%
Paylocity Holding Corp.(1)	23,922	4,132,525

Verisk Analytics, Inc.	9,217	2,019,537
		6,152,062
Semiconductors and Semiconductor Equipment — 8.1%
Monolithic Power Systems, Inc.	5,890	2,885,570
NVIDIA Corp.	25,485	9,641,995
		12,527,565
Software — 12.9%
Bills Holdings, Inc.(1)	20,001	2,071,704
Cadence Design Systems, Inc.(1)	14,779	3,412,619
DocuSign, Inc.(1)	45,278	2,553,679
HubSpot, Inc.(1)	6,937	3,593,297
Microsoft Corp.	8,495	2,789,673
Salesforce, Inc.(1)	25,106	5,608,178
		20,029,150
Textiles, Apparel and Luxury Goods — 2.7%
NIKE, Inc., Class B	40,065	4,217,242
TOTAL COMMON STOCKS (Cost $138,907,144)		154,249,493
SHORT-TERM INVESTMENTS — 0.6%
Money Market Funds — 0.6%
State Street Institutional U.S. Government Money Market Fund, Premier Class (Cost $909,096)	909,096	909,096
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $139,816,240)		155,158,589
OTHER ASSETS AND LIABILITIES — (0.1)%		(95,743)
TOTAL NET ASSETS — 100.0%		$	155,062,846

NOTES TO SCHEDULE OF INVESTMENTS
ADR	–	American Depositary Receipt

†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 $656,167. 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. At the period end, the aggregate value of the collateral held by the fund was $673,645, all of which is securities collateral.

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.