NPORT-EX 2 aczg_avantisussmcapvalue.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
Avantis® U.S. Small Cap Value Fund
May 31, 2023


Avantis U.S. Small Cap Value Fund - Schedule of Investments
MAY 31, 2023 (UNAUDITED)
Shares
Value ($)
COMMON STOCKS — 100.4%
Aerospace and Defense — 0.4%
AAR Corp.(1)
9,381 470,082 
AerSale Corp.(1)
4,238 63,655 
Moog, Inc., Class A
8,633 839,214 
1,372,951 
Air Freight and Logistics — 0.6%
Air Transport Services Group, Inc.(1)
55,349 924,328 
Hub Group, Inc., Class A(1)
19,753 1,453,031 
Radiant Logistics, Inc.(1)
5,335 33,344 
2,410,703 
Automobile Components — 1.6%
American Axle & Manufacturing Holdings, Inc.(1)
95,275 643,106 
Dana, Inc.
80,512 1,036,190 
Goodyear Tire & Rubber Co.(1)
187,810 2,578,631 
LCI Industries
13,334 1,440,605 
Modine Manufacturing Co.(1)
38 1,037 
Motorcar Parts of America, Inc.(1)
2,351 12,954 
Patrick Industries, Inc.
6,522 427,387 
Strattec Security Corp.(1)
45 834 
6,140,744 
Automobiles — 1.1%
Harley-Davidson, Inc.
5,577 173,500 
Thor Industries, Inc.
34,957 2,736,084 
Winnebago Industries, Inc.
21,557 1,199,432 
4,109,016 
Banks — 12.9%
1st Source Corp.
3,078 126,598 
ACNB Corp.
923 27,182 
Amalgamated Financial Corp.
10,082 143,366 
Amerant Bancorp, Inc.
13,742 242,546 
American National Bankshares, Inc.
1,409 40,481 
Ameris Bancorp
29,505 931,178 
Ames National Corp.
1,518 27,810 
Arrow Financial Corp.
3,465 63,202 
Associated Banc-Corp.
63,082 934,244 
Axos Financial, Inc.(1)
22,120 836,578 
Banc of California, Inc.
25,830 276,123 
BancFirst Corp.
4,390 371,262 
Bancorp, Inc.(1)
27,389 845,225 
Bank First Corp.(2)
423 32,199 
Bank of Hawaii Corp.(2)
15,983 625,734 
Bank of Marin Bancorp
822 13,292 
Bank OZK
24,706 854,333 
BankFinancial Corp.
377 2,790 
BankUnited, Inc.
37,259 704,940 
Banner Corp.
17,031 736,931 
Bar Harbor Bankshares
2,956 69,850 
Baycom Corp.
1,850 29,989 
BCB Bancorp, Inc.
3,352 35,565 
Berkshire Hills Bancorp, Inc.
15,551 318,018 


Bridgewater Bancshares, Inc.(1)
5,299 45,624 
Brookline Bancorp, Inc.
37,017 304,280 
Business First Bancshares, Inc.
4,866 70,898 
Byline Bancorp, Inc.
9,248 163,875 
C&F Financial Corp.
431 21,873 
Cadence Bank
54,542 979,574 
Cambridge Bancorp
2,130 107,650 
Camden National Corp.
3,837 113,230 
Capital Bancorp, Inc.
2,756 46,824 
Capital City Bank Group, Inc.
2,809 84,467 
Capstar Financial Holdings, Inc.
3,560 42,898 
Carter Bankshares, Inc.(1)
4,285 60,418 
Cathay General Bancorp
28,187 824,188 
CB Financial Services, Inc.
235 4,543 
Central Pacific Financial Corp.
12,145 177,438 
Central Valley Community Bancorp
2,641 38,110 
Chemung Financial Corp.
842 29,807 
City Holding Co.
6,514 561,442 
Civista Bancshares, Inc.
2,482 37,180 
CNB Financial Corp.
5,326 88,465 
Coastal Financial Corp.(1)
250 8,553 
Colony Bankcorp, Inc.
416 3,869 
Columbia Banking System, Inc.
1,043 20,891 
Community Financial Corp.
1,296 33,916 
Community Trust Bancorp, Inc.
5,680 191,416 
ConnectOne Bancorp, Inc.
15,019 203,958 
CrossFirst Bankshares, Inc.(1)
10,197 98,299 
Customers Bancorp, Inc.(1)
15,789 363,463 
Dime Community Bancshares, Inc.
18,184 294,581 
Eagle Bancorp Montana, Inc.
1,752 21,935 
Eagle Bancorp, Inc.
14,417 287,331 
Enterprise Bancorp, Inc.
1,329 35,325 
Enterprise Financial Services Corp.
15,755 639,968 
Equity Bancshares, Inc., Class A
4,589 102,518 
Esquire Financial Holdings, Inc.
1,574 66,627 
Evans Bancorp, Inc.
1,322 31,371 
Farmers National Banc Corp.
6,519 76,794 
FB Financial Corp.
12,245 326,452 
Financial Institutions, Inc.
3,877 60,908 
First BanCorp
73,562 820,952 
First Bancorp, Inc.
227 5,380 
First Bancorp/Southern Pines NC
6,690 201,369 
First Bancshares, Inc.
4,395 114,446 
First Bank
4,600 47,196 
First Busey Corp.
22,561 421,891 
First Business Financial Services, Inc.
977 26,154 
First Commonwealth Financial Corp.
40,712 515,007 
First Community Bankshares, Inc.
2,500 66,650 
First Community Corp.
85 1,420 
First Financial Corp.
4,114 133,458 
First Foundation, Inc.
4,487 17,410 
First Guaranty Bancshares, Inc.
266 3,511 
First Internet Bancorp
3,003 36,877 
First Merchants Corp.
705 18,647 
First Mid Bancshares, Inc.
4,108 98,551 


First of Long Island Corp.
5,675 57,942 
First Savings Financial Group, Inc.
1,383 17,426 
First United Corp.
279 3,633 
First Western Financial, Inc.(1)
900 15,318 
Flushing Financial Corp.
12,918 150,495 
FNB Corp.
73,674 809,677 
FNCB Bancorp, Inc.
206 1,149 
Franklin Financial Services Corp.
146 3,789 
FS Bancorp, Inc.
2,126 60,378 
Fulton Financial Corp.
76,555 854,354 
FVCBankcorp, Inc.(1)
747 7,634 
Great Southern Bancorp, Inc.
4,818 234,299 
Greene County Bancorp, Inc.
268 7,169 
Hancock Whitney Corp.
35,648 1,302,221 
Hanmi Financial Corp.
18,029 259,618 
HarborOne Bancorp, Inc.
11,000 90,200 
Hawthorn Bancshares, Inc.
792 14,256 
HBT Financial, Inc.
2,201 38,738 
Heartland Financial USA, Inc.
14,573 402,069 
Hilltop Holdings, Inc.
23,313 688,200 
Hingham Institution For Savings(2)
254 48,976 
Home Bancorp, Inc.
1,338 41,197 
HomeStreet, Inc.
8,098 42,434 
HomeTrust Bancshares, Inc.
2,923 57,262 
Hope Bancorp, Inc.
51,020 409,180 
Horizon Bancorp, Inc.
13,036 115,890 
Independent Bank Corp. (Michigan)
8,013 131,013 
International Bancshares Corp.
21,985 939,199 
Investar Holding Corp.
2,251 24,761 
Kearny Financial Corp.
17,555 119,901 
Lakeland Bancorp, Inc.
18,210 236,912 
Lakeland Financial Corp.
3,035 152,448 
Landmark Bancorp, Inc.
204 4,192 
LCNB Corp.
1,807 24,557 
Live Oak Bancshares, Inc.
15,190 328,712 
Luther Burbank Corp.
2,236 19,230 
Macatawa Bank Corp.
7,793 67,955 
Mercantile Bank Corp.
3,782 98,445 
Meridian Corp.
3,066 29,556 
Metrocity Bankshares, Inc.
3,750 61,612 
Metropolitan Bank Holding Corp.(1)(2)
3,568 100,974 
Mid Penn Bancorp, Inc.
2,254 49,994 
Midland States Bancorp, Inc.
7,780 150,465 
MidWestOne Financial Group, Inc.
3,723 70,290 
MVB Financial Corp.
2,840 50,438 
National Bank Holdings Corp., Class A
6,132 183,531 
National Bankshares, Inc.
300 8,151 
NBT Bancorp, Inc.
20,589 690,761 
New York Community Bancorp, Inc.
222,585 2,288,174 
Northeast Bank
1,928 69,100 
Northfield Bancorp, Inc.
13,146 134,484 
Northrim BanCorp, Inc.
1,797 68,124 
Oak Valley Bancorp
775 17,895 
OceanFirst Financial Corp.
14,614 207,519 
OFG Bancorp
29,609 718,314 


Old National Bancorp
1 12 
Old Second Bancorp, Inc.
13,543 160,349 
OP Bancorp
1,343 10,529 
Origin Bancorp, Inc.
8,492 241,597 
Orrstown Financial Services, Inc.
2,704 48,942 
Pacific Premier Bancorp, Inc.
40,773 767,756 
Park National Corp.
4,634 457,607 
Parke Bancorp, Inc.
2,104 33,790 
Pathward Financial, Inc.
13,214 580,623 
PCB Bancorp
1,436 20,233 
Peapack-Gladstone Financial Corp.
6,114 161,348 
Peoples Bancorp of North Carolina, Inc.
588 10,125 
Peoples Bancorp, Inc.
7,679 197,120 
Plumas Bancorp
642 21,141 
Popular, Inc.
26,532 1,517,100 
Preferred Bank
6,211 286,451 
Premier Financial Corp.
12,362 172,326 
Primis Financial Corp.
5,304 39,090 
Provident Financial Services, Inc.
33,500 531,980 
QCR Holdings, Inc.
9,206 353,695 
RBB Bancorp
3,757 39,223 
Red River Bancshares, Inc.
185 9,087 
Republic Bancorp, Inc., Class A
3,166 133,415 
Riverview Bancorp, Inc.
2,994 14,012 
Salisbury Bancorp, Inc.
62 1,507 
Sandy Spring Bancorp, Inc.
19,669 411,869 
SB Financial Group, Inc.
134 1,678 
ServisFirst Bancshares, Inc.
7,912 318,854 
Shore Bancshares, Inc.
1,205 13,568 
Sierra Bancorp
3,475 55,565 
Simmons First National Corp., Class A
22,037 358,542 
SmartFinancial, Inc.
2,267 47,834 
South Plains Financial, Inc.
2,649 58,702 
Southern First Bancshares, Inc.(1)
1,448 33,261 
Southern Missouri Bancorp, Inc.
2,022 75,117 
Southside Bancshares, Inc.
8,927 236,565 
SouthState Corp.
840 52,517 
Stock Yards Bancorp, Inc.
18 754 
Summit Financial Group, Inc.
1,425 27,161 
Synovus Financial Corp.
37,769 1,023,162 
Territorial Bancorp, Inc.
886 9,516 
Texas Capital Bancshares, Inc.(1)
17,174 812,330 
Timberland Bancorp, Inc.
1,932 45,518 
Tompkins Financial Corp.
3,663 191,575 
Towne Bank
26,674 619,904 
TriCo Bancshares
13,380 435,653 
Triumph Financial, Inc.(1)
9,789 508,245 
TrustCo Bank Corp. NY
7,964 220,045 
Trustmark Corp.
18,782 392,168 
UMB Financial Corp.
14,429 817,259 
Union Bankshares, Inc.
156 3,402 
United Community Banks, Inc.
276 6,240 
United Security Bancshares
700 4,375 
Unity Bancorp, Inc.
1,160 26,390 
Univest Financial Corp.
10,161 180,155 


Valley National Bancorp
109,332 806,870 
Veritex Holdings, Inc.
6,925 119,595 
Washington Federal, Inc.
31,340 815,153 
Washington Trust Bancorp, Inc.
6,452 164,268 
West BanCorp, Inc.
3,824 64,243 
Westamerica BanCorp
4,717 178,444 
Western Alliance Bancorp
13,698 464,362 
Wintrust Financial Corp.
15,407 979,423 
WSFS Financial Corp.
14,113 471,939 
Zions Bancorp NA
28,824 786,607 
47,917,411 
Beverages — 0.4%
Coca-Cola Consolidated, Inc.
2,476 1,638,468 
Biotechnology — 1.2%
Arcus Biosciences, Inc.(1)
6,000 123,240 
Catalyst Pharmaceuticals, Inc.(1)
71,471 825,490 
Cullinan Oncology, Inc.(1)
12,686 130,412 
Dynavax Technologies Corp.(1)
28,853 329,790 
Emergent BioSolutions, Inc.(1)
26,140 222,974 
Ironwood Pharmaceuticals, Inc.(1)
26,435 287,613 
Organogenesis Holdings, Inc.(1)
4,707 17,087 
Ovid therapeutics, Inc.(1)(2)
4 14 
Point Biopharma Global, Inc.(1)
8,465 78,471 
REGENXBIO, Inc.(1)
16,679 287,379 
Tango Therapeutics, Inc.(1)
759 2,049 
Vir Biotechnology, Inc.(1)
81,105 2,163,070 
XOMA Corp.(1)(2)
919 15,623 
4,483,212 
Broadline Retail — 1.2%
Dillard's, Inc., Class A(2)
2,962 815,468 
Kohl's Corp.
51,314 940,072 
Macy's, Inc.
190,267 2,585,729 
4,341,269 
Building Products — 0.8%
Apogee Enterprises, Inc.
8,806 325,029 
Insteel Industries, Inc.
9,206 275,536 
Masonite International Corp.(1)
15,018 1,322,635 
Quanex Building Products Corp.
17,835 374,713 
UFP Industries, Inc.
10,675 833,718 
3,131,631 
Capital Markets — 1.9%
Artisan Partners Asset Management, Inc., Class A
10,404 332,928 
B. Riley Financial, Inc.
2,210 79,958 
Diamond Hill Investment Group, Inc.
855 135,748 
Evercore, Inc., Class A
15,209 1,641,811 
GAMCO Investors, Inc., Class A
544 10,336 
Hennessy Advisors, Inc.
490 3,572 
Janus Henderson Group PLC
43,067 1,131,801 
Moelis & Co., Class A
2,174 82,329 
Open Lending Corp., Class A(1)
16,064 162,889 
Oppenheimer Holdings, Inc., Class A
2,286 89,634 
Piper Sandler Cos.
7,975 1,015,776 
Stifel Financial Corp.
16,908 939,578 
StoneX Group, Inc.(1)
9,623 772,631 


Virtus Investment Partners, Inc.
3,391 646,935 
7,045,926 
Chemicals — 2.6%
AdvanSix, Inc.
20,486 673,989 
American Vanguard Corp.
24,323 414,950 
Cabot Corp.
35,373 2,422,343 
Chemours Co.
77,791 2,060,684 
Hawkins, Inc.
4,636 217,614 
Intrepid Potash, Inc.(1)
6,770 119,017 
Kronos Worldwide, Inc.
15,640 129,030 
Livent Corp.(1)
68,368 1,575,882 
LSB Industries, Inc.(1)
21,847 203,177 
Orion Engineered Carbons SA
40,382 936,459 
Rayonier Advanced Materials, Inc.(1)
27,861 94,727 
Stepan Co.
385 35,401 
Tronox Holdings PLC, Class A
82,045 872,959 
Valhi, Inc.
1,270 15,786 
9,772,018 
Commercial Services and Supplies — 0.2%
Civeo Corp.(1)
5,607 112,084 
Ennis, Inc.
4,672 90,497 
Heritage-Crystal Clean, Inc.(1)
10,440 346,190 
Interface, Inc.
23,294 161,427 
Quad/Graphics, Inc.(1)
8,561 27,995 
738,193 
Communications Equipment — 0.5%
ViaSat, Inc.(1)
43,455 1,938,528 
Construction and Engineering — 0.6%
Ameresco, Inc., Class A(1)
9,202 396,422 
Dycom Industries, Inc.(1)
2,742 278,121 
Great Lakes Dredge & Dock Corp.(1)
2 13 
MYR Group, Inc.(1)
10,584 1,349,460 
Northwest Pipe Co.(1)
1,947 51,712 
Tutor Perini Corp.(1)
18,365 99,171 
2,174,899 
Construction Materials — 0.2%
Eagle Materials, Inc.
3,974 647,484 
US Lime & Minerals, Inc.
69 12,518 
660,002 
Consumer Finance — 2.3%
Atlanticus Holdings Corp.(1)
2,510 87,750 
Bread Financial Holdings, Inc.
27,674 779,853 
Consumer Portfolio Services, Inc.(1)
6,386 74,141 
Encore Capital Group, Inc.(1)
10,145 436,945 
EZCORP, Inc., Class A(1)
8,933 74,501 
Green Dot Corp., Class A(1)
19,310 352,021 
LendingClub Corp.(1)
30,933 253,651 
Navient Corp.
64,213 972,827 
Nelnet, Inc., Class A
4,308 398,490 
OneMain Holdings, Inc.
53,143 2,011,994 
Oportun Financial Corp.(1)
5,021 28,770 
PRA Group, Inc.(1)
15,651 292,674 
PROG Holdings, Inc.(1)
23,977 782,370 
Regional Management Corp.
2,426 63,440 
SLM Corp.
126,000 1,922,760 


World Acceptance Corp.(1)(2)
770 85,616 
8,617,803 
Consumer Staples Distribution & Retail — 1.9%
Andersons, Inc.
23,885 931,754 
HF Foods Group, Inc.(1)
1,687 6,073 
Ingles Markets, Inc., Class A
12,928 1,037,731 
Natural Grocers by Vitamin Cottage, Inc.
4,681 51,725 
PriceSmart, Inc.
11,313 819,966 
SpartanNash Co.
28,593 654,780 
Sprouts Farmers Market, Inc.(1)
53,383 1,844,916 
United Natural Foods, Inc.(1)
33,454 893,556 
Village Super Market, Inc., Class A
2,044 42,423 
Weis Markets, Inc.
13,414 798,670 
7,081,594 
Diversified Consumer Services — 1.1%
Adtalem Global Education, Inc.(1)
35,311 1,465,407 
Grand Canyon Education, Inc.(1)
17,498 1,833,090 
Laureate Education, Inc., Class A
132 1,597 
Perdoceo Education Corp.(1)
49,829 587,484 
Universal Technical Institute, Inc.(1)
25,324 162,833 
4,050,411 
Diversified Telecommunication Services — 0.8%
ATN International, Inc.
7,362 276,296 
EchoStar Corp., Class A(1)
23,130 364,760 
Iridium Communications, Inc.
41,945 2,518,378 
3,159,434 
Electrical Equipment — 1.6%
Atkore, Inc.(1)
27,592 3,221,918 
Encore Wire Corp.
15,242 2,494,658 
Powell Industries, Inc.
2,714 156,055 
Preformed Line Products Co.
32 4,919 
5,877,550 
Electronic Equipment, Instruments and Components — 2.0%
Bel Fuse, Inc., Class B
4,180 205,614 
CTS Corp.
9,571 437,108 
Insight Enterprises, Inc.(1)
4,847 655,411 
Kimball Electronics, Inc.(1)
4,447 110,286 
Plexus Corp.(1)
2 181 
Sanmina Corp.(1)
48,765 2,586,496 
ScanSource, Inc.(1)
544 15,645 
Tingo Group, Inc.(1)(2)
15,328 43,532 
TTM Technologies, Inc.(1)
51,470 705,139 
Vishay Intertechnology, Inc.
100,316 2,586,147 
Vishay Precision Group, Inc.(1)
1,544 53,916 
7,399,475 
Energy Equipment and Services — 3.3%
Archrock, Inc.
92,136 829,224 
Bristow Group, Inc.(1)
12,875 314,794 
Dril-Quip, Inc.(1)
17,312 386,923 
Helmerich & Payne, Inc.
17,578 542,809 
Liberty Energy, Inc., Class A
61,410 720,954 
Nabors Industries Ltd.(1)
5,067 424,108 
Natural Gas Services Group, Inc.(1)
3,161 31,926 
Newpark Resources, Inc.(1)
37,589 130,058 
NexTier Oilfield Solutions, Inc.(1)
89,256 672,990 


Oceaneering International, Inc.(1)
65,643 1,004,994 
Oil States International, Inc.(1)
6,690 42,548 
Patterson-UTI Energy, Inc.
71,810 699,429 
ProPetro Holding Corp.(1)
58,748 391,849 
RPC, Inc.
23,761 158,011 
Select Water Solutions, Inc., Class A
2,624 19,050 
TechnipFMC PLC(1)
141,486 1,859,126 
TETRA Technologies, Inc.(1)
16,961 44,099 
Transocean Ltd.(1)
355,414 2,032,968 
US Silica Holdings, Inc.(1)
51,337 581,648 
Weatherford International PLC(1)
28,070 1,584,271 
12,471,779 
Entertainment — 0.2%
Madison Square Garden Entertainment Corp.(1)
9,626 337,776 
Marcus Corp.(2)
10,749 164,245 
Sphere Entertainment Co.(1)
9,626 229,773 
731,794 
Financial Services — 3.8%
Alerus Financial Corp.
2,974 49,577 
A-Mark Precious Metals, Inc.
3,753 127,114 
Cass Information Systems, Inc.
2,275 87,861 
Enact Holdings, Inc.
9,161 222,979 
Essent Group Ltd.
51,548 2,276,875 
Federal Agricultural Mortgage Corp., Class C
4,325 578,728 
International Money Express, Inc.(1)
2,379 55,431 
Jackson Financial, Inc., Class A
51,405 1,423,919 
Merchants Bancorp
8,404 192,115 
MGIC Investment Corp.
164,333 2,484,715 
Mr. Cooper Group, Inc.(1)
39,386 1,821,996 
NMI Holdings, Inc., Class A(1)
46,085 1,159,038 
PennyMac Financial Services, Inc.
13,369 816,044 
Radian Group, Inc.
83,928 2,143,521 
Walker & Dunlop, Inc.
8,744 639,973 
Waterstone Financial, Inc.
5,837 78,916 
14,158,802 
Food Products — 0.7%
Cal-Maine Foods, Inc.
30,405 1,445,758 
Fresh Del Monte Produce, Inc.
16,780 442,321 
John B Sanfilippo & Son, Inc.
2,281 265,120 
Pilgrim's Pride Corp.(1)
5 111 
Seaboard Corp.
43 163,375 
Seneca Foods Corp., Class A(1)
2,432 112,456 
2,429,141 
Ground Transportation — 2.9%
ArcBest Corp.
15,963 1,337,380 
Covenant Logistics Group, Inc.
4,475 170,811 
Heartland Express, Inc.
33,067 515,845 
Marten Transport Ltd.
42,552 899,975 
PAM Transportation Services, Inc.(1)
3,478 90,984 
Ryder System, Inc.
43,092 3,396,942 
Saia, Inc.(1)
5,869 1,667,735 
Schneider National, Inc., Class B
30,754 797,144 
Universal Logistics Holdings, Inc.
1,657 43,993 
US Xpress Enterprises, Inc., Class A(1)
5,048 30,692 


Werner Enterprises, Inc.
39,504 1,735,016 
10,686,517 
Health Care Equipment and Supplies — 0.5%
Co-Diagnostics, Inc.(1)
12,327 13,437 
FONAR Corp.(1)
475 8,132 
QuidelOrtho Corp.(1)
18,901 1,609,231 
Utah Medical Products, Inc.
574 53,663 
1,684,463 
Health Care Providers and Services — 0.2%
Ensign Group, Inc.
2,000 177,220 
Fulgent Genetics, Inc.(1)
14,748 586,528 
763,748 
Hotels, Restaurants and Leisure — 1.4%
BJ's Restaurants, Inc.(1)
11,392 339,254 
Cheesecake Factory, Inc.(2)
31,204 977,621 
Chuy's Holdings, Inc.(1)
12,506 460,721 
Cracker Barrel Old Country Store, Inc.(2)
11,748 1,151,539 
Full House Resorts, Inc.(1)
1,518 10,778 
Golden Entertainment, Inc.(1)
4,240 178,674 
Monarch Casino & Resort, Inc.
8,431 547,088 
ONE Group Hospitality, Inc.(1)
10,666 75,302 
Playa Hotels & Resorts NV(1)
107,310 953,986 
RCI Hospitality Holdings, Inc.
4,212 304,233 
Red Robin Gourmet Burgers, Inc.(1)
4,768 60,410 
Target Hospitality Corp.(1)(2)
7,103 100,365 
5,159,971 
Household Durables — 6.0%
Bassett Furniture Industries, Inc.
2,036 27,506 
Beazer Homes USA, Inc.(1)
4,909 99,505 
Cavco Industries, Inc.(1)
5,917 1,473,215 
Century Communities, Inc.
20,502 1,304,542 
Ethan Allen Interiors, Inc.
17,413 435,847 
GoPro, Inc., Class A(1)
22,591 94,882 
Green Brick Partners, Inc.(1)
16,758 802,206 
Hooker Furnishings Corp.
1,512 22,453 
Hovnanian Enterprises, Inc., Class A(1)
3,177 266,741 
KB Home
50,793 2,200,861 
La-Z-Boy, Inc.
30,361 811,246 
Legacy Housing Corp.(1)
241 4,589 
Lifetime Brands, Inc.
267 1,308 
M/I Homes, Inc.(1)
25,108 1,774,382 
MDC Holdings, Inc.
53,034 2,136,210 
Meritage Homes Corp.
24,521 2,828,007 
Skyline Champion Corp.(1)
36,541 2,124,128 
Taylor Morrison Home Corp.(1)
83,774 3,554,531 
Tri Pointe Homes, Inc.(1)
74,422 2,173,867 
Universal Electronics, Inc.(1)
3,515 28,366 
22,164,392 
Household Products†
Oil-Dri Corp. of America
247 9,379 
Independent Power and Renewable Electricity Producers — 0.2%
Ormat Technologies, Inc.
7,348 625,315 
Insurance — 4.4%
Ambac Financial Group, Inc.(1)
22,191 309,121 
American Equity Investment Life Holding Co.
42,298 1,668,656 


Argo Group International Holdings Ltd.
16,906 495,515 
Assured Guaranty Ltd.
24,042 1,244,174 
Axis Capital Holdings Ltd.
35,155 1,824,544 
Brighthouse Financial, Inc.(1)
31,987 1,287,797 
CNO Financial Group, Inc.
47,671 1,034,937 
Donegal Group, Inc., Class A
3,433 49,367 
Employers Holdings, Inc.
10,283 371,833 
Enstar Group Ltd.(1)
2,953 695,077 
Genworth Financial, Inc., Class A(1)
225,216 1,204,906 
Hanover Insurance Group, Inc.
16 1,783 
Horace Mann Educators Corp.
11,838 355,732 
Investors Title Co.
100 13,255 
National Western Life Group, Inc., Class A
238 88,784 
NI Holdings, Inc.(1)
1,243 17,029 
Oscar Health, Inc., Class A(1)
70,353 516,391 
Primerica, Inc.
3,477 632,884 
ProAssurance Corp.
11,387 138,352 
Safety Insurance Group, Inc.
7,626 555,325 
Selective Insurance Group, Inc.
16,785 1,623,613 
SiriusPoint Ltd.(1)
36,246 337,450 
Stewart Information Services Corp.
5,560 249,310 
United Fire Group, Inc.
5,307 113,994 
Unum Group
35,628 1,548,037 
16,377,866 
Interactive Media and Services — 0.4%
Cargurus, Inc.(1)
42,333 795,437 
Cars.com, Inc.(1)
40,989 723,456 
1,518,893 
IT Services†
Computer Task Group, Inc.(1)
1,148 8,001 
Kyndryl Holdings, Inc.(1)
5,880 73,853 
81,854 
Leisure Products — 0.8%
Acushnet Holdings Corp.
8 358 
Funko, Inc., Class A(1)
17 207 
Malibu Boats, Inc., Class A(1)
12,932 678,284 
MasterCraft Boat Holdings, Inc.(1)
8,678 229,967 
Smith & Wesson Brands, Inc.
33,445 392,310 
Sturm Ruger & Co., Inc.
12,455 642,180 
Vista Outdoor, Inc.(1)
40,197 1,070,446 
3,013,752 
Life Sciences Tools and Services — 0.2%
AbCellera Biologics, Inc.(1)(2)
81,957 571,240 
OmniAb, Inc.(1)
2,677 7,041 
OmniAb, Inc.(1)
2,677 6,719 
585,000 
Machinery — 1.5%
Albany International Corp., Class A
14,081 1,195,758 
Commercial Vehicle Group, Inc.(1)
3,391 33,266 
Greenbrier Cos., Inc.
502 13,639 
Kennametal, Inc.
52,388 1,305,509 
L.B. Foster Co., Class A(1)
1,099 14,562 
Mueller Industries, Inc.
39,583 2,939,434 
REV Group, Inc.
7,403 75,066 
Terex Corp.
220 10,201 


Titan International, Inc.(1)
18,203 180,028 
5,767,463 
Marine Transportation — 0.9%
Costamare, Inc.
7,096 54,781 
Eagle Bulk Shipping, Inc.(2)
8,195 321,899 
Genco Shipping & Trading Ltd.
31,978 396,847 
Kirby Corp.(1)
4,443 317,941 
Matson, Inc.
28,602 1,954,375 
Pangaea Logistics Solutions Ltd.
20,109 115,426 
Safe Bulkers, Inc.(2)
44,161 139,990 
3,301,259 
Media — 0.5%
AMC Networks, Inc., Class A(1)
19,440 219,866 
Cumulus Media, Inc., Class A(1)
11,998 38,634 
Entravision Communications Corp., Class A
30,218 124,800 
PubMatic, Inc., Class A(1)
16,212 284,521 
Scholastic Corp.
24,323 1,033,241 
1,701,062 
Metals and Mining — 3.4%
Alpha Metallurgical Resources, Inc.
14,113 1,904,832 
Arconic Corp.(1)
60,550 1,750,500 
Ascent Industries Co.(1)
314 2,983 
Carpenter Technology Corp.
5,940 270,923 
Coeur Mining, Inc.(1)
1,398 4,194 
Commercial Metals Co.
80,029 3,421,240 
Haynes International, Inc.
266 11,550 
Hecla Mining Co.
227,381 1,211,941 
Kaiser Aluminum Corp.
573 34,609 
Olympic Steel, Inc.
7,699 321,972 
Ramaco Resources, Inc.
17,058 126,400 
Ryerson Holding Corp.
18,104 615,355 
Schnitzer Steel Industries, Inc., Class A
17,163 472,154 
SunCoke Energy, Inc.
69,425 471,396 
TimkenSteel Corp.(1)
35,428 603,339 
Tredegar Corp.
6,734 47,340 
Warrior Met Coal, Inc.
45,948 1,506,175 
12,776,903 
Oil, Gas and Consumable Fuels — 13.2%
Antero Midstream Corp.
138,405 1,413,115 
Arch Resources, Inc.
10,926 1,129,202 
Ardmore Shipping Corp.
12,477 146,106 
Berry Corp.
38,660 243,558 
California Resources Corp.
32,545 1,221,739 
Callon Petroleum Co.(1)
29,950 917,369 
Chord Energy Corp.
12,266 1,754,529 
Civitas Resources, Inc.
23,874 1,594,783 
CNX Resources Corp.(1)
78,309 1,209,874 
Comstock Resources, Inc.(2)
56,462 526,226 
CONSOL Energy, Inc.
20,813 1,123,069 
Crescent Energy Co., Class A(2)
13,473 126,781 
CVR Energy, Inc.(2)
20,034 468,996 
Delek US Holdings, Inc.
9,882 217,602 
Denbury, Inc.(1)
23,723 2,139,103 
DHT Holdings, Inc.
74,073 569,621 
Dorian LPG Ltd.
21,635 499,336 


DT Midstream, Inc.
3,941 179,158 
Earthstone Energy, Inc., Class A(1)
39,814 478,166 
EnLink Midstream LLC(1)
120,991 1,180,872 
Epsilon Energy Ltd.
4,859 23,858 
Equitrans Midstream Corp.
212,089 1,809,119 
Evolution Petroleum Corp.
16,025 125,636 
Gulfport Energy Corp.(1)
6,770 656,825 
Hallador Energy Co.(1)
16,621 129,478 
International Seaways, Inc.
20,811 750,237 
Kimbell Royalty Partners LP
37,600 553,848 
Kosmos Energy Ltd.(1)
291,453 1,737,060 
Magnolia Oil & Gas Corp., Class A
76,325 1,475,362 
Matador Resources Co.
47,256 2,077,846 
Murphy Oil Corp.
67,305 2,342,214 
NACCO Industries, Inc., Class A
2,354 74,033 
Northern Oil & Gas, Inc.
24,269 725,886 
Overseas Shipholding Group, Inc., Class A(1)
24,038 87,498 
Par Pacific Holdings, Inc.(1)
30,009 639,792 
PBF Energy, Inc., Class A
66,346 2,442,196 
PDC Energy, Inc.
43,227 2,966,237 
Peabody Energy Corp.
65,044 1,181,199 
Permian Resources Corp.
124,117 1,158,012 
Plains GP Holdings LP, Class A(1)
98,281 1,336,622 
Range Resources Corp.
66,188 1,811,566 
Ranger Oil Corp., Class A
10,940 402,045 
REX American Resources Corp.(1)
8,244 271,557 
Riley Exploration Permian, Inc.
1,613 53,987 
Ring Energy, Inc.(1)(2)
66,787 113,538 
SandRidge Energy, Inc.
25,724 346,502 
Scorpio Tankers, Inc.
22,328 1,021,953 
SFL Corp. Ltd.
84,617 726,014 
SilverBow Resources, Inc.(1)(2)
8,443 201,619 
Sitio Royalties Corp., Class A
22,982 585,581 
SM Energy Co.
71,541 1,880,813 
Talos Energy, Inc.(1)
55,708 685,765 
Teekay Corp.(1)
40,921 229,567 
Teekay Tankers Ltd., Class A
11,916 430,525 
VAALCO Energy, Inc.
39,518 152,539 
Vertex Energy, Inc.(1)(2)
24,841 160,721 
Vital Energy, Inc.(1)
8,615 357,436 
World Fuel Services Corp.
5,559 127,134 
48,991,025 
Paper and Forest Products — 1.2%
Clearwater Paper Corp.(1)
12,171 369,877 
Louisiana-Pacific Corp.
51,611 3,020,276 
Mercer International, Inc.
36,581 316,791 
Sylvamo Corp.
21,499 847,490 
4,554,434 
Passenger Airlines — 0.9%
Allegiant Travel Co.(1)
10,846 1,057,376 
JetBlue Airways Corp.(1)
147,490 1,007,357 
SkyWest, Inc.(1)
29,145 871,727 
Spirit Airlines, Inc.
38,037 578,543 
3,515,003 
Personal Care Products — 0.4%
Nature's Sunshine Products, Inc.(1)
4,126 46,129 


Nu Skin Enterprises, Inc., Class A
29,331 977,602 
USANA Health Sciences, Inc.(1)
5,730 347,639 
1,371,370 
Pharmaceuticals — 0.5%
Assertio Holdings, Inc.(1)(2)
15,274 96,685 
Innoviva, Inc.(1)
45,675 616,156 
Ligand Pharmaceuticals, Inc.(1)
7,062 494,905 
Prestige Consumer Healthcare, Inc.(1)
7,262 415,604 
ProPhase Labs, Inc.(1)(2)
2,333 22,140 
SIGA Technologies, Inc.
31,011 173,972 
Supernus Pharmaceuticals, Inc.(1)
52 1,723 
1,821,185 
Professional Services — 1.0%
CBIZ, Inc.(1)
23,033 1,161,324 
CRA International, Inc.
1,512 140,117 
Heidrick & Struggles International, Inc.
11,832 286,926 
Kelly Services, Inc., Class A
7,404 129,422 
Kforce, Inc.
4,885 281,327 
Korn Ferry
30,155 1,417,285 
TrueBlue, Inc.(1)
19,874 328,716 
3,745,117 
Real Estate Management and Development — 1.1%
Douglas Elliman, Inc.
37,664 109,602 
Five Point Holdings LLC, Class A(1)
14,023 32,673 
Forestar Group, Inc.(1)
10,190 207,163 
Howard Hughes Corp.(1)
16,266 1,212,956 
Kennedy-Wilson Holdings, Inc.
78,106 1,205,175 
Marcus & Millichap, Inc.
17,554 515,210 
Opendoor Technologies, Inc.(1)(2)
152,448 402,463 
RE/MAX Holdings, Inc., Class A
12,693 237,232 
3,922,474 
Semiconductors and Semiconductor Equipment — 2.8%
Alpha & Omega Semiconductor Ltd.(1)
13,415 371,461 
Amkor Technology, Inc.
65,326 1,618,778 
Axcelis Technologies, Inc.(1)
15,239 2,400,905 
Diodes, Inc.(1)
28,047 2,519,743 
Kulicke & Soffa Industries, Inc.
35,781 1,892,099 
Photronics, Inc.(1)
46,191 980,635 
SMART Global Holdings, Inc.(1)
5,138 116,016 
Ultra Clean Holdings, Inc.(1)
19,079 654,028 
10,553,665 
Software — 0.5%
Adeia, Inc.
23,079 226,405 
Cleanspark, Inc.(1)
5,305 22,758 
InterDigital, Inc.
16,766 1,392,249 
Xperi, Inc.(1)
14,651 173,321 
1,814,733 
Specialty Retail — 5.4%
Aaron's Co., Inc.
23,207 284,054 
Abercrombie & Fitch Co., Class A(1)
21,257 659,605 
Academy Sports & Outdoors, Inc.
43,180 2,114,093 
American Eagle Outfitters, Inc.
130,294 1,325,090 
AutoNation, Inc.(1)
11,121 1,455,961 
Big 5 Sporting Goods Corp.
10,404 78,654 
Buckle, Inc.
18,874 579,621 


Build-A-Bear Workshop, Inc.
9,659 175,601 
Caleres, Inc.
23,658 408,337 
Cato Corp., Class A
10,167 81,946 
Chico's FAS, Inc.(1)
92,914 421,830 
Children's Place, Inc.(1)
1,503 22,590 
Citi Trends, Inc.(1)
4,400 64,328 
Conn's, Inc.(1)
10,875 44,152 
Container Store Group, Inc.(1)
13,676 33,643 
Designer Brands, Inc., Class A
41,874 262,550 
Destination XL Group, Inc.(1)
23,632 98,309 
Duluth Holdings, Inc., Class B(1)
5,416 29,246 
Foot Locker, Inc.(2)
68,442 1,732,951 
Group 1 Automotive, Inc.
7,118 1,590,944 
Guess?, Inc.
23,094 443,636 
Haverty Furniture Cos., Inc.
11,215 295,964 
Hibbett, Inc.
8,763 315,643 
Murphy USA, Inc.
5,749 1,589,139 
ODP Corp.(1)
21,201 849,312 
Shoe Carnival, Inc.
11,530 225,642 
Signet Jewelers Ltd.
29,383 1,865,527 
Sonic Automotive, Inc., Class A
16,883 699,631 
Sportsman's Warehouse Holdings, Inc.(1)
8,155 36,942 
Tilly's, Inc., Class A(1)
6,913 53,921 
Upbound Group, Inc.
27,958 836,224 
Urban Outfitters, Inc.(1)
45,731 1,409,429 
Zumiez, Inc.(1)
6,611 106,239 
20,190,754 
Technology Hardware, Storage and Peripherals†
Immersion Corp.
6,453 45,687 
Super Micro Computer, Inc.(1)
135 30,233 
75,920 
Textiles, Apparel and Luxury Goods — 1.7%
Capri Holdings Ltd.(1)
4,003 140,505 
Crown Crafts, Inc.
31 160 
G-III Apparel Group Ltd.(1)
2,140 34,411 
Lakeland Industries, Inc.
1,868 20,455 
Movado Group, Inc.
9,896 251,853 
Oxford Industries, Inc.
10,815 1,080,851 
PVH Corp.
40,078 3,447,510 
Steven Madden Ltd.
12,404 387,129 
Under Armour, Inc., Class A(1)
65,786 474,317 
Under Armour, Inc., Class C(1)
67,665 445,236 
Unifi, Inc.(1)
4,426 31,911 
Vera Bradley, Inc.(1)
5,863 27,849 
6,342,187 
Trading Companies and Distributors — 4.2%
Air Lease Corp.
69,129 2,628,285 
Alta Equipment Group, Inc.
328 4,464 
BlueLinx Holdings, Inc.(1)
8,216 675,520 
Boise Cascade Co.
30,369 2,181,102 
GATX Corp.
23,354 2,777,024 
Global Industrial Co.
41 1,020 
H&E Equipment Services, Inc.
19,829 713,051 
Herc Holdings, Inc.
16,553 1,678,805 
McGrath RentCorp
16,229 1,441,297 


NOW, Inc.(1)
55,054 489,430 
Rush Enterprises, Inc., Class A
9,809 512,716 
Rush Enterprises, Inc., Class B
3,156 183,648 
Textainer Group Holdings Ltd.
27,393 971,630 
Titan Machinery, Inc.(1)
14,334 361,933 
Veritiv Corp.
10,281 1,085,571 
15,705,496 
Wireless Telecommunication Services — 0.3%
Shenandoah Telecommunications Co.
16,012 303,908 
Telephone & Data Systems, Inc.
74,189 495,583 
US Cellular Corp.(1)
10,515 150,364 
949,855 
TOTAL COMMON STOCKS
(Cost $346,519,025)
373,623,809 
SHORT-TERM INVESTMENTS — 1.5%
Money Market Funds — 1.5%
State Street Institutional U.S. Government Money Market Fund, Premier Class
1,562,324 1,562,324 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
3,817,703 3,817,703 
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,380,027)
5,380,027 
TOTAL INVESTMENT SECURITIES — 101.9%
(Cost $351,899,052)
379,003,836 
OTHER ASSETS AND LIABILITIES — (1.9)%
(6,916,448)
TOTAL NET ASSETS — 100.0%
$372,087,388 

FUTURES CONTRACTS PURCHASED
Reference Entity
Contracts
Expiration Date
Notional
Amount		Unrealized
Appreciation
(Depreciation)^
Russell 2000 E-Mini Index
11 June 2023$963,490 $(25,692)
^Amount represents value and unrealized appreciation (depreciation).

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 $6,574,389. 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 $6,758,887, which includes securities collateral of $2,941,184.


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.  Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.

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.