N-Q 1 n-q.htm FORM N-Q (3RD QUARTER) FORM N-Q
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM N-Q
             QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
                          MANAGEMENT INVESTMENT COMPANY



Investment Company Act file number            811-6247
                                   ---------------------------------------------


                    AMERICAN CENTURY WORLD MUTUAL FUNDS, INC.
--------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)


       4500 MAIN STREET, KANSAS CITY, MISSOURI               64111
--------------------------------------------------------------------------------
       (Address of principal executive offices)            (Zip code)


      CHARLES A. ETHERINGTON, 4500 MAIN STREET, KANSAS CITY, MISSOURI 64111
--------------------------------------------------------------------------------
                    (Name and address of agent for service)


Registrant's telephone number, including area code:      816-531-5575
                                                    ----------------------------

Date of fiscal year end:       11-30
                          ------------------------------------------------------

Date of reporting period:      08-31-2007
                          ------------------------------------------------------




ITEM 1.  SCHEDULE OF INVESTMENTS.


AMERICAN CENTURY(reg.sm) INVESTMENTS
QUARTERLY PORTFOLIO HOLDINGS
INTERNATIONAL GROWTH FUND
AUGUST 31, 2007

[american century investments logo and text logo]




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
SHARES                        ($ IN THOUSANDS)                         VALUE
--------------------------------------------------------------------------------
COMMON STOCKS - 99.6%
AUSTRALIA - 4.7%
         1,313,674  BHP Billiton Ltd.(1)                           $      41,247
           291,670  CSL Ltd.(1)                                           23,408
           306,082  National Australia Bank Ltd.(1)                        9,991
           998,500  QBE Insurance Group Ltd.(1)                           28,438
           177,244  Rio Tinto Ltd.(1)                                     13,547
                                                                 ---------------
                                                                         116,631
                                                                 ---------------
AUSTRIA - 0.3%
           117,829  Erste Bank der Oesterreichischen
                    Sparkassen AG                                          8,540
                                                                 ---------------
BELGIUM - 2.1%
           213,175  KBC Groupe(1)                                         26,729
           108,730  Umicore                                               24,905
                                                                 ---------------
                                                                          51,634
                                                                 ---------------
BRAZIL - 0.5%
           867,600  Redecard SA(2)                                        13,266
                                                                 ---------------
CANADA - 3.0%
           125,710  EnCana Corp.(1)                                        7,354
           249,970  Research In Motion Ltd.(2)                            21,350
           489,760  Rogers Communications Inc. Cl B                       22,275
           451,726  Shoppers Drug Mart Corporation                        22,806
                                                                 ---------------
                                                                          73,785
                                                                 ---------------
CZECH REPUBLIC - 0.6%
           265,420  CEZ AS                                                14,072
                                                                 ---------------
DENMARK - 2.0%
           271,380  Novo Nordisk AS Cl B                                  30,179
           296,360  Vestas Wind Systems AS(2)                             20,056
                                                                 ---------------
                                                                          50,235
                                                                 ---------------
FINLAND - 2.5%
           499,220  Metso Oyj(1)                                          31,985
           929,380  Nokia Oyj                                             30,608
                                                                 ---------------
                                                                          62,593
                                                                 ---------------
FRANCE - 7.4%
           162,619  Accor SA(1)                                           13,962
           132,630  ALSTOM Co.                                            23,975
           711,198  AXA SA                                                28,501
           259,878  Groupe Danone(1)                                      19,798
           120,913  PPR SA(1)                                             20,908
           168,950  Schneider Electric SA(1)                              22,446
            98,816  Societe Generale(1)                                   15,938




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
SHARES                        ($ IN THOUSANDS)                         VALUE
--------------------------------------------------------------------------------
           494,266  Total SA                                              37,210
                                                                 ---------------
                                                                         182,738
                                                                 ---------------
GERMANY - 11.1%
           286,320  adidas AG                                             16,835
           123,490  Allianz SE                                            26,472
           213,430  BASF AG                                               28,247
           176,040  Continental AG                                        22,886
           222,440  Deutsche Boerse AG                                    24,551
           446,203  Fresenius Medical Care
                    AG & Co. KGaA(1)                                      21,924
           908,256  GEA Group AG(2)                                       29,331
           160,388  Hochtief AG                                           16,092
            88,210  K+S AG                                                12,667
            94,060  Linde AG                                              11,042
           243,500  Q-Cells AG(1)(2)                                      21,567
           455,960  SAP AG                                                24,560
           151,170  Siemens AG                                            18,990
                                                                 ---------------
                                                                         275,164
                                                                 ---------------
GREECE - 1.6%
           656,610  National Bank of Greece SA                            39,062
                                                                 ---------------
HONG KONG - 1.1%
         1,792,100  Esprit Holdings Ltd.                                  26,084
                                                                 ---------------
INDIA - 3.2%
           224,070  Bharat Heavy Electricals Ltd.                         10,416
         1,064,920  Bharti Airtel Ltd.(2)                                 23,115
           366,220  Housing Development
                    Finance Corp. Ltd.                                    17,806
           663,580  Reliance Communication
                    Ventures Ltd.                                          8,866
           248,000  Reliance Industries Ltd.                              11,958
           289,370  Tata Consultancy Services Ltd.                         7,583
                                                                 ---------------
                                                                          79,744
                                                                 ---------------
IRELAND - 1.1%
           835,342  Anglo Irish Bank Corp. plc                            15,594
           486,170  Kingspan Group plc                                    12,587
                                                                 ---------------
                                                                          28,181
                                                                 ---------------
ITALY - 4.3%
           659,279  ENI SpA                                               22,800
           602,730  Fiat SpA(1)                                           16,015
           421,720  Finmeccanica SpA                                      12,360
           483,330  Luxottica Group SpA(1)                                16,504
         1,036,264  Saipem SpA                                            38,817
                                                                 ---------------
                                                                         106,496
                                                                 ---------------
JAPAN - 17.0%
           320,200  AEON Mall Co., Ltd.(1)                                 9,649
           546,400  Canon, Inc.                                           31,231
           697,600  Daikin Industries Ltd.                                31,320
             1,440  East Japan Railway Company                            11,476




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
SHARES                        ($ IN THOUSANDS)                         VALUE
--------------------------------------------------------------------------------
           165,200  Fanuc Ltd.                                            16,075
           354,400  Ibiden Co. Ltd.                                       30,141
         1,436,000  Isuzu Motors Ltd.(1)                                   7,811
             3,090  Japan Tobacco Inc.                                    17,155
           546,500  Kuraray Co. Ltd.                                       7,182
           248,100  Makita Corp.(1)                                        9,597
         2,722,000  Marubeni Corp.                                        22,209
           641,000  Mitsubishi Electric Corp.                              7,532
            86,800  Nintendo Co., Ltd.                                    40,245
         2,047,000  Nippon Yusen Kabushiki Kaisha(1)                      20,237
           341,250  Nitori Co. Ltd.(1)                                    17,767
            59,870  ORIX Corp.                                            12,825
           932,000  Sharp Corp.(1)                                        16,214
         1,993,000  Sumitomo Heavy Industries Ltd.                        22,318
         2,989,000  Sumitomo Metal Industries Ltd.                        15,149
               890  Sumitomo Mitsui Financial
                    Group Inc.                                             7,031
           639,000  Sumitomo Realty &
                    Development Co. Ltd.                                  20,910
           224,400  Terumo Corp.                                          10,540
           568,000  Tokyo Tatemono Co. Ltd.                                7,508
           474,600  Toyota Motor Corp.                                    27,701
                                                                 ---------------
                                                                         419,823
                                                                 ---------------
MEXICO - 1.3%
           537,352  America Movil, SAB de CV ADR                          32,488
                                                                 ---------------
NETHERLANDS - 1.8%
           561,040  Heineken N.V.(1)                                      35,533
           301,430  Koninklijke BAM Groep N.V.                             8,165
                                                                 ---------------
                                                                          43,698
                                                                 ---------------
NORWAY - 1.3%
           639,770  Aker Kvaerner ASA(1)                                  16,084
           527,980  Statoil ASA                                           15,222
                                                                 ---------------
                                                                          31,306
                                                                 ---------------
PEOPLE'S REPUBLIC OF CHINA - 0.7%
         4,641,500  China Merchants Bank Co.
                    Ltd. Cl H                                             17,440
                                                                 ---------------
SINGAPORE - 1.7%
         3,847,000  Keppel Corp. Ltd.                                     32,268
         1,931,000  Oversea-Chinese Banking Corp.                         10,819
                                                                 ---------------
                                                                          43,087
                                                                 ---------------
SOUTH AFRICA - 0.7%
           302,669  Anglo American plc                                    17,358
                                                                 ---------------
SPAIN - 2.8%
         1,599,700  Banco Bilbao Vizcaya
                    Argentaria SA(1)                                      36,816
           558,089  Inditex SA(1)                                         32,737
                                                                 ---------------
                                                                          69,553
                                                                 ---------------




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
SHARES                        ($ IN THOUSANDS)                         VALUE
--------------------------------------------------------------------------------
SWEDEN - 1.3%
           442,840  Swedbank AB Cl A(1)                                   14,478
         4,736,610  Telefonaktiebolaget LM
                    Ericsson Cl B                                         17,580
                                                                 ---------------
                                                                          32,058
                                                                 ---------------
SWITZERLAND - 11.0%
         1,274,145  ABB Ltd.                                              31,328
           123,449  Adecco SA(1)                                           8,048
           367,749  Compagnie Financiere
                    Richemont SA Cl A                                     22,772
           190,700  Credit Suisse Group                                   12,464
           305,880  Holcim Ltd.                                           33,071
           588,600  Julius Baer Holding AG                                38,981
            89,660  Nestle SA                                             39,005
           293,205  Novartis AG                                           15,474
           200,359  Roche Holding AG                                      34,832
            85,013  Syngenta AG                                           15,912
           412,964  UBS AG                                                21,538
                                                                 ---------------
                                                                         273,425
                                                                 ---------------
TAIWAN (REPUBLIC OF CHINA) - 1.1%
         3,533,760  Hon Hai Precision
                    Industry Co., Ltd.                                    26,235
                                                                 ---------------
UNITED KINGDOM - 13.4%
         1,600,951  Barclays plc                                          19,806
         2,081,229  BG Group plc                                          33,323
           932,810  British Sky Broadcasting
                    Group plc                                             12,707
         1,547,610  BT Group plc                                           9,854
         2,652,396  Burberry Group plc                                    32,654
         1,436,407  Capita Group plc                                      21,739
           889,940  Carphone Warehouse Group plc(1)                        6,120
           907,430  easyJet plc(2)                                        10,558
           706,482  GlaxoSmithKline plc                                   18,449
         1,333,749  HSBC Holdings plc                                     24,126
         2,377,050  International Power plc                               19,389
         1,786,894  Man Group plc                                         17,783
           557,781  Reckitt Benckiser plc                                 30,358
         1,505,735  Royal Bank of Scotland Group plc                      17,444
         3,448,329  Tesco plc                                             29,553
         8,821,070  Vodafone Group plc                                    28,425
                                                                 ---------------
                                                                         332,288
                                                                 ---------------
TOTAL COMMON STOCKS                                                    2,466,984
(Cost $1,843,082)                                                ---------------

TEMPORARY CASH INVESTMENTS - 0.9%
Repurchase Agreement, Deutsche Bank
Securities, Inc., (collateralized by various U.S.
Treasury obligations, 3.75%, 5/15/08, valued
at $23,768), in a joint trading account at 5.05%,
dated 8/31/07, due 9/4/07
(Delivery value $23,313)                                                  23,300
(Cost $23,300)                                                   ---------------




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
                              ($ IN THOUSANDS)                         VALUE
--------------------------------------------------------------------------------
TEMPORARY CASH INVESTMENTS -
SECURITIES LENDING COLLATERAL(3) - 13.0%
Repurchase Agreement, Citigroup Global
Markets Inc., (collateralized by various U.S.
Government Agency obligations in a pooled
account at the lending agent), 5.30%, dated
8/31/07, due 9/4/07 (Delivery value $100,059)                            100,000

Repurchase Agreement, Lehman Brothers, Inc.,
(collateralized by various U.S. Government
Agency obligations in a pooled account at the
lending agent), 5.30%, dated 8/31/07,
due 9/4/07 (Delivery value $223,522)                                     223,390
                                                                 ---------------
TOTAL TEMPORARY CASH INVESTMENTS -
SECURITIES LENDING COLLATERAL                                            323,390
(Cost $323,390)                                                  ---------------

TOTAL INVESTMENT SECURITIES - 113.5%                                   2,813,674
(Cost $2,189,772)                                                ---------------

OTHER ASSETS AND LIABILITIES - (13.5)%                                 (333,644)
                                                                 ---------------

TOTAL NET ASSETS - 100.0%                                          $   2,480,030
                                                                 ===============

MARKET SECTOR DIVERSIFICATION
(AS A % OF NET ASSETS)
Financials                                                                 21.5%
Industrials                                                                18.8%
Consumer Discretionary                                                     12.9%
Information Technology                                                      9.8%
Materials                                                                   8.9%
Consumer Staples                                                            7.8%
Energy                                                                      7.4%
Health Care                                                                 6.2%
Telecommunication Services                                                  5.0%
Utilities                                                                   1.3%
Cash and cash equivalents(+)                                                0.4%

(+) Includes temporary cash investments, collateral received for securities
    lending and other assets and liabilities.

NOTES TO SCHEDULE OF INVESTMENTS
ADR = American Depositary Receipt
(1) Security, or a portion thereof, was on loan as of August 31, 2007. The
    aggregate value of securities on loan at August 31, 2007, was $311,293 (in
    thousands).
(2) Non-income producing.
(3) Investments represent purchases made by the lending agent with cash
    collateral received through securities lending transactions.




INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS
AUGUST 31, 2007 (UNAUDITED)
                              ($ IN THOUSANDS)
--------------------------------------------------------------------------------
SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. FEDERAL TAX INFORMATION

As of August 31, 2007, the components of investments for federal income tax
purposes were as follows:

Federal tax cost of investments                                     $ 2,197,250
                                                                 ===============
Gross tax appreciation of investments                               $   633,973
Gross tax depreciation of investments                                   (17,549)
                                                                 ---------------
Net tax appreciation (depreciation) of investments                  $   616,424
                                                                 ===============

The difference between book-basis and tax-basis cost and unrealized appreciation
(depreciation) is attributable primarily to the tax deferral of losses on wash
sales.

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
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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN
CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY
PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS GLOBAL GROWTH FUND AUGUST 31, 2007 [american century investments logo and text logo] GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 99.8% AUSTRALIA - 2.3% 194,960 BHP Billiton Ltd. $ 6,122 31,010 CSL Ltd. 2,489 776,710 Oxiana Ltd.(1) 2,107 --------------- 10,718 --------------- AUSTRIA - 1.1% 69,670 Erste Bank der Oesterreichischen Sparkassen AG 5,049 --------------- BELGIUM - 1.9% 34,690 KBC Groupe 4,350 20,040 Umicore 4,590 --------------- 8,940 --------------- BRAZIL - 0.7% 48,000 NET Servicos de Comunicacao SA ADR 724 166,500 Redecard SA(2) 2,546 --------------- 3,270 --------------- CANADA - 2.9% 37,920 Research In Motion Ltd.(2) 3,239 119,980 Shoppers Drug Mart Corporation 6,057 50,661 Suncor Energy Inc.(1) 4,543 --------------- 13,839 --------------- DENMARK - 1.0% 70,035 Vestas Wind Systems AS(2) 4,740 --------------- FINLAND - 1.4% 103,510 Metso Oyj 6,632 --------------- FRANCE - 5.9% 79,750 Accor SA(1) 6,847 84,801 AXA SA(1) 3,398 49,780 Groupe Danone(1) 3,793 31,270 Societe Generale(1) 5,044 58,890 Total SA 4,433 63,900 Vinci SA(1) 4,549 --------------- 28,064 --------------- GERMANY - 4.5% 84,720 Deutsche Boerse AG 9,351 112,370 Fresenius Medical Care AG & Co. KGaA 5,521 39,710 Q-Cells AG(1)(2) 3,517 22,620 Siemens AG 2,841 --------------- 21,230 --------------- GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- GREECE - 1.6% 129,930 National Bank of Greece SA 7,730 --------------- HONG KONG - 1.3% 425,000 Esprit Holdings Ltd. 6,186 --------------- INDIA - 1.4% 30,500 Bharat Heavy Electricals Ltd. 1,418 239,211 Bharti Airtel Ltd.(2) 5,192 --------------- 6,610 --------------- IRELAND - 0.6% 161,334 Anglo Irish Bank Corp. plc 3,012 --------------- ITALY - 2.8% 183,890 Fiat SpA(1) 4,886 227,770 Saipem SpA 8,532 --------------- 13,418 --------------- JAPAN - 6.8% 41,100 Canon, Inc. 2,349 118,800 Makita Corp. 4,595 117,000 NGK Insulators Ltd. 3,869 9,900 Nintendo Co., Ltd. 4,590 19,020 ORIX Corp. 4,074 352,000 Sumitomo Heavy Industries Ltd. 3,941 173,000 Sumitomo Realty & Development Co. Ltd. 5,661 54,400 Toyota Motor Corp. 3,175 --------------- 32,254 --------------- MEXICO - 1.7% 134,150 America Movil, SAB de CV ADR 8,111 --------------- NETHERLANDS - 3.0% 78,960 Heineken N.V.(1) 5,001 94,270 Schlumberger Ltd. 9,096 --------------- 14,097 --------------- SOUTH KOREA - 0.5% 3,600 Samsung Electronics 2,266 --------------- SWEDEN - 1.2% 1,514,760 Telefonaktiebolaget LM Ericsson Cl B 5,622 --------------- SWITZERLAND - 6.4% 265,880 ABB Ltd. 6,537 79,200 Compagnie Financiere Richemont SA Cl A 4,904 135,700 Julius Baer Holding AG 8,987 6,200 Nestle SA 2,697 28,460 Roche Holding AG 4,948 GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 12,860 Syngenta AG 2,407 --------------- 30,480 --------------- TAIWAN (REPUBLIC OF CHINA) - 1.8% 815,760 Hon Hai Precision Industry Co., Ltd. 6,056 262,150 Taiwan Semiconductor Manufacturing Co. Ltd. ADR 2,601 --------------- 8,657 --------------- UNITED KINGDOM - 8.8% 568,798 Burberry Group plc 7,003 226,000 Capita Group plc 3,420 595,360 Carphone Warehouse Group plc 4,094 267,250 HSBC Holdings plc 4,833 651,502 Man Group plc 6,484 116,295 Reckitt Benckiser plc 6,330 291,860 Royal Bank of Scotland Group plc 3,381 57,000 Shire plc 1,486 591,000 Tesco plc 5,065 --------------- 42,096 --------------- UNITED STATES - 40.2% 69,840 Adobe Systems Inc.(2) 2,986 75,640 Air Products & Chemicals, Inc. 6,808 118,500 Allergan, Inc. 7,111 144,870 American Express Co. 8,493 160,890 American Tower Corp. Cl A(2) 6,375 38,730 Apple Inc.(2) 5,363 164,500 Automatic Data Processing, Inc. 7,524 91,360 Boeing Co. 8,834 339,550 Cisco Systems Inc.(2) 10,838 72,200 Coach Inc.(2) 3,215 93,910 Colgate-Palmolive Co. 6,228 229,190 Comcast Corp. Cl A(2) 5,980 103,200 Corrections Corp. of America(2) 2,648 138,500 CVS/Caremark Corp. 5,238 30,630 Deere & Co. 4,168 28,190 Devon Energy Corporation 2,123 48,040 Exelon Corporation 3,395 61,390 FMC Technologies Inc.(2) 5,814 21,970 Goldman Sachs Group, Inc. (The) 3,867 9,100 Google Inc. Cl A(2) 4,689 177,420 Hewlett-Packard Co. 8,756 194,040 Intel Corp. 4,996 62,010 Laboratory Corp. of America Holdings(2) 4,816 27,600 McDermott International, Inc.(2) 2,649 106,400 McDonald's Corporation 5,240 39,500 McKesson Corp. 2,260 82,000 Merck & Co., Inc. 4,114 148,450 Microsoft Corporation 4,265 75,230 Monsanto Co. 5,247 215,410 News Corp. Cl B 4,683 70,590 NII Holdings, Inc. Cl B(2) 5,589 46,650 Owens-Illinois Inc.(2) 1,876 43,150 Precision Castparts Corp. 5,623 57,510 Prudential Financial, Inc. 5,164 GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 130,500 Schering-Plough Corp. 3,918 65,300 Southwestern Energy Company(2) 2,429 111,500 St. Jude Medical, Inc.(2) 4,858 49,840 Textron Inc. 2,908 4,953 VMware, Inc. Cl A(1)(2) 341 --------------- 191,429 --------------- TOTAL COMMON STOCKS 474,450 (Cost $364,528) --------------- TEMPORARY CASH INVESTMENTS - 0.1% Repurchase Agreement, Deutsche Bank Securities, Inc., (collateralized by various U.S. Treasury obligations, 3.75%, 5/15/08,valued at $612), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $600) 600 (Cost $600) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 7.3% Repurchase Agreement, Lehman Brothers, Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $34,644) 34,624 (Cost $34,624) --------------- TOTAL INVESTMENT SECURITIES - 107.2% 509,674 (Cost $399,752) --------------- OTHER ASSETS AND LIABILITIES - (7.2)% (34,091) --------------- TOTAL NET ASSETS - 100.0% $ 475,583 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 18.8% Information Technology 16.6% Industrials 14.4% Consumer Discretionary 12.9% Health Care 8.7% Consumer Staples 8.5% Energy 7.8% Materials 6.1% Telecommunication Services 5.3% Utilities 0.7% Cash and cash equivalents(+) 0.2% (+) Includes temporary cash investments, collateral received for securities lending and other assets and liabilities. GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt. (1) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $33,500 (in thousands). (2) Non-income producing. (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. GLOBAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 399,844 =============== Gross tax appreciation of investments $ 113,457 Gross tax depreciation of investments (3,627) --------------- Net tax appreciation (depreciation) of investments $ 109,830 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.





AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS EMERGING MARKETS FUND AUGUST 31, 2007 [american century investments logo and text logo] EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 97.0% ARGENTINA - 0.4% 123,487 Banco Macro SA ADR $ 3,370 --------------- BRAZIL - 11.3% 726,830 ALL - America Latina Logistica SA 8,476 319,889 Cia Vale do Rio Doce ADR 15,780 297,852 Dufry South America Ltd. BDR(1) 7,332 250,114 JBS SA(1) 1,168 917,292 JBS SA(1) 4,310 717,840 Lojas Renner SA 12,450 550,454 LPS Brasil - Consultoria de Imoveis SA(1) 6,986 328,300 Lupatech SA 6,969 750,600 Net Servicos de Comunicacao SA(1) 11,190 323,238 Petroleo Brasileiro SA ADR 19,989 578,500 Redecard SA(1) 8,846 210,818 Totvs SA 6,447 --------------- 109,943 --------------- CHILE - 3.5% 2,105,367 Cencosud SA 8,522 709,607 Compania Cervecerias Unidas SA 5,182 1,554,437 La Polar SA 9,631 367,645 LAN Airlines SA ADR 5,901 16,743,050 Masisa SA 4,328 --------------- 33,564 --------------- CZECH REPUBLIC - 2.2% 190,973 CEZ AS 10,125 50,689 Komercni Banka AS 10,999 --------------- 21,124 --------------- HONG KONG - 4.2% 171,673 China Mobile Ltd. ADR 11,638 8,614,000 China Yurun Food Group Ltd.(2) 10,340 784,500 Parkson Retail Group Ltd.(2) 6,273 18,560,000 Samling Global Ltd.(1) 6,426 793,000 Vtech Holdings Ltd.(2) 6,000 --------------- 40,677 --------------- HUNGARY - 0.4% 25,927 MOL Hungarian Oil and Gas Nyrt 3,718 --------------- INDIA - 7.3% 284,700 ABB India Ltd. 7,875 197,720 Bharat Heavy Electricals Ltd. 9,191 443,609 DLF Ltd.(1) 6,530 279,851 ICICI Bank Ltd. ADR 12,439 488,825 JSW Steel Ltd. 7,723 731,741 Reliance Communication Ventures Ltd. 9,777 EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 218,834 Reliance Industries Ltd. 10,551 612,500 Rolta India Ltd. 7,082 --------------- 71,168 --------------- INDONESIA - 2.7% 4,996,500 PT Astra International Tbk 9,498 24,086,000 PT Bank Mandiri Tbk 8,336 17,310,000 PT Bumi Resources Tbk 4,701 3,522,500 PT Telekomunikasi Indonesia Tbk 4,070 --------------- 26,605 --------------- ISRAEL - 0.4% 79,786 Elbit Systems Ltd. 3,584 --------------- KAZAKHSTAN - 0.7% 305,218 KazMunaiGas Exploration Production GDR 6,547 --------------- MALAYSIA - 2.1% 3,633,000 Bumiputra - Commerce Holdings Bhd 11,372 2,073,300 Genting Bhd 4,347 4,584,500 Resorts World Bhd 4,978 --------------- 20,697 --------------- MEXICO - 6.0% 280,338 America Movil, SAB de CV ADR 16,949 1,606,609 Axtel, SAB de CV(1) 10,949 1,257,114 Corporacion GEO, SAB de CV Series B(1) 6,539 192,704 Grupo Aeroportuario del Pacifico, SAB de CV ADR 9,726 2,189,803 Grupo Financiero Banorte, SAB de CV 8,930 1,396,860 Urbi Desarrollos Urbanos, SA de CV(1) 5,240 --------------- 58,333 --------------- PAKISTAN - 0.6% 340,975 Oil & Gas Development Co. Ltd. GDR 6,138 --------------- PEOPLE'S REPUBLIC OF CHINA - 9.7% 8,100,000 Agile Property Holdings Ltd.(2) 14,750 11,259,000 China Construction Bank Cl H(2) 9,428 2,791,000 China Merchants Bank Co. Ltd. Cl H 10,488 5,068,000 China National Building Material Co. Ltd. Cl H 14,103 7,716,000 China Petroleum & Chemical Corp. Cl H 8,411 190,177 Focus Media Holding Ltd. ADR(1)(2) 7,658 7,648,000 Haitian International Holdings Ltd.(1) 5,747 4,677,314 Nine Dragons Paper Holdings Ltd.(2) 13,976 3,292,000 Wumart Stores Inc. Cl H(2) 2,324 6,040,000 Yangzijiang Shipbuilding Holdings Ltd.(1) 7,362 --------------- 94,247 --------------- PHILIPPINES - 1.4% 32,477,000 Alliance Global Group Inc.(1) 3,913 170,157,200 Filinvest Land Inc.(1) 5,785 EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 9,129,300 Robinsons Land Corp. 3,536 --------------- 13,234 --------------- POLAND - 0.8% 166,177 Agora SA 3,057 26,437 BRE Bank SA(1) 4,712 --------------- 7,769 --------------- RUSSIAN FEDERATION - 6.6% 196,855 CTC Media Inc.(1) 4,528 119,794 LUKOIL 8,949 153,133 Mobile TeleSystems ADR(1) 10,131 266,383 OAO TMK GDR(1) 10,256 235,731 OJSC Pharmstandard GDR(1) 3,948 1,470,000 Sberbank(1) 5,630 10,139,953 Unified Energy System(1) 12,726 254,752 X5 Retail Group N.V. GDR(1) 8,188 --------------- 64,356 --------------- SINGAPORE - 1.7% 6,186,000 Midas Holdings Ltd.(2) 5,756 5,298,000 Yanlord Land Group Ltd.(2) 10,971 --------------- 16,727 --------------- SOUTH AFRICA - 7.4% 146,042 Anglo American plc 8,412 269,286 Barloworld Ltd.(2) 4,623 4,159,338 Dimension Data Holdings plc 4,809 132,546 Impala Platinum Holdings Ltd. 3,940 364,908 Kumba Iron Ore Ltd. 10,639 727,515 Murray & Roberts Holdings Ltd. 7,678 1,366,550 Pretoria Portland Cement Co. Ltd.(2) 8,667 326,735 Sappi Ltd.(2) 5,140 126,990 Sun International Ltd. 2,768 623,378 Telkom SA Ltd.(2) 15,394 --------------- 72,070 --------------- SOUTH KOREA - 14.0% 7,108 Amorepacific Corp. 5,034 167,460 GS Holdings Corp. 8,649 533,200 Hankook Tire Co. Ltd. 11,669 48,740 Hyundai Department Store Co. Ltd. 5,502 26,718 Hyundai Heavy Industries Co., Ltd. 10,528 444,800 LG Dacom Corp. 11,606 319,600 LIG Non-Life Insurance Co., Ltd. 8,815 30,990 MegaStudy Co., Ltd. 7,030 121,713 Modetour Network Inc. 7,324 24,777 NHN Corp.(1) 4,776 24,522 POSCO 14,990 31,104 Samsung Electronics 19,577 EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 191,511 Shinhan Financial Group Co., Ltd. 11,666 13,360 Shinsegae Co. Ltd. 8,821 --------------- 135,987 --------------- TAIWAN (REPUBLIC OF CHINA) - 11.4% 4,899,409 Asia Cement Corp. 6,874 6,255,663 China Steel Corp. 8,493 2,340,000 Hon Hai Precision Industry Co., Ltd. 17,373 818,800 MediaTek Inc. 13,894 2,454,781 Merry Electronics Co. Ltd. 8,331 1,975,050 Realtek Semiconductor Corp. 9,666 626,750 Richtek Technology Corp. 6,875 11,628,029 Shin Kong Financial Holding Co. Ltd. 11,311 5,142,000 U-Ming Marine Transport Corp.(1) 15,301 6,581,979 Wistron Corp. 11,967 --------------- 110,085 --------------- TURKEY - 2.2% 966,340 Turk Hava Yollari Anonim Ortakligi(1) 6,721 2,308,895 Turkiye Garanti Bankasi AS 14,819 --------------- 21,540 --------------- TOTAL COMMON STOCKS 941,483 (Cost $711,754) --------------- PREFERRED STOCKS - 0.4% BRAZIL - 0.4% 116,528 Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR(2) 3,744 (Cost $3,906) --------------- TEMPORARY CASH INVESTMENTS - 2.6% Repurchase Agreement, Merrill Lynch & Co., Inc., (collateralized by various U.S. Treasury obligations, 4.125%, 8/15/08, valued at $25,392), in a joint trading account at 4.80%, dated 8/31/07, due 9/4/07 (Delivery value $24,913) 24,900 (Cost $24,900) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 6.1% Repurchase Agreement, Lehman Brothers Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $59,394) 59,359 (Cost $59,359) --------------- TOTAL INVESTMENT SECURITIES - 106.1% 1,029,486 --------------- (Cost $799,919) OTHER ASSETS AND LIABILITIES - (6.1)% (58,846) --------------- TOTAL NET ASSETS - 100.0% $ 970,640 =============== EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 18.0% Consumer Discretionary 14.7% Materials 13.3% Information Technology 12.1% Industrials 11.9% Telecommunication Services 9.3% Energy 9.1% Consumer Staples 6.3% Utilities 2.3% Health Care 0.4% Cash and Equivalents(+) 2.6% (+) Includes temporary cash investments, securities lending collateral and other assets and liabilities. NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt BDR = Brazilian Depositary Receipt GDR = Global Depositary Receipt OJSC = Open Joint Stock Company (1) Non-income producing. (2) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $60,308 (in thousands). (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. As of August 31, 2007, securities with an aggregate value of 20,697 (in thousands), which represented 2.1% of total net assets were valued in accordance with alternative pricing procedures adopted by the Board of Directors. EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 799,934 =============== Gross tax appreciation of investments $ 242,504 Gross tax depreciation of investments (12,952) --------------- Net tax appreciation (depreciation) of investments $ 229,552 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS INTERNATIONAL VALUE FUND AUGUST 31, 2007 [american century investments logo and text logo] INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 94.5% AUSTRALIA - 1.8% 48,280 Alumina Ltd. $ 274 4,630 Australia & New Zealand Banking Group Ltd. 110 26,912 National Australia Bank Ltd. 878 --------------- 1,262 --------------- BELGIUM - 0.3% 11,400 AGFA-Gevaert N.V. 238 --------------- BERMUDA - 1.5% 11,760 Ace, Ltd. 679 4,700 XL Capital Ltd. Cl A 358 --------------- 1,037 --------------- CANADA - 2.5% 5,740 Alcan Inc. 568 20,358 BCE Inc. 779 49,300 Domtar Corp.(1) 394 --------------- 1,741 --------------- DENMARK - 1.6% 16,564 Vestas Wind Systems AS(1) 1,121 --------------- FINLAND - 1.5% 34,110 Stora Enso Oyj R Shares 608 20,660 UPM-Kymmene Oyj 468 --------------- 1,076 --------------- FRANCE - 8.4% 4,160 Accor SA 357 24,219 AXA SA 971 8,110 Compagnie Generale des Etablissements Michelin Cl B 1,022 6,680 Electricite de France 675 21,700 France Telecom SA 655 8,483 Sanofi-Aventis 693 12,420 Suez SA 706 15,920 Thomson 261 3,880 Total SA 292 5,032 Valeo SA 244 --------------- 5,876 --------------- GERMANY - 6.8% 4,310 BASF AG 570 15,080 Bayerische Motoren Werke AG 917 30,710 Deutsche Post AG 893 6,950 E.On AG 1,166 25,810 Infineon Technologies AG(1) 402 INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 6,300 Siemens AG ADR 789 --------------- 4,737 --------------- HONG KONG - 3.0% 54,300 Cheung Kong Holdings Ltd. 799 948 CK Life Sciences International Holdings Inc.(1) 0 56,900 Hutchison Whampoa Ltd. 566 40,500 Swire Pacific Ltd. A Shares 448 146,000 Swire Pacific Ltd. B Shares 321 --------------- 2,134 --------------- ISRAEL - 0.7% 19,490 Check Point Software Technologies Ltd.(1) 457 --------------- ITALY - 2.0% 21,370 ENI SpA 739 26,230 Mediaset SpA 278 42,150 UniCredito Italiano SpA 361 --------------- 1,378 --------------- JAPAN - 9.0% 8,200 FUJIFILM Holdings Corp. 357 62,400 Hitachi Ltd. 403 6,600 Mabuchi Motor Co. Ltd. 430 22 Mitsubishi UFJ Financial Group, Inc. 211 9,000 Mitsubishi UFJ Financial Group, Inc. ADR 86 3,400 Nintendo Co., Ltd. 1,576 101 Nippon Telegraph & Telephone Corp. 469 17,600 Nomura Holdings, Inc. 312 11,900 Olympus Corp. 508 4,800 Ono Pharmaceutical Co Ltd. 248 32,600 Sompo Japan Insurance Inc. 364 12,300 Sony Corp. 592 10,600 Takeda Pharmaceutical Co Ltd. 724 300 Toshiba Corp. 3 --------------- 6,283 --------------- MEXICO - 1.1% 22,820 Telefonos de Mexico, SAB de CV ADR 806 --------------- NETHERLANDS - 6.9% 4,410 Akzo Nobel N.V. 347 27,040 ING Groep N.V. CVA 1,088 23,417 Koninklijke Philips Electronics N.V. 922 33,730 Reed Elsevier N.V. 609 21,145 Royal Dutch Shell plc B Shares 825 23,440 SBM Offshore N.V. 878 5,240 Wolters Kluwer N.V. 153 --------------- 4,822 --------------- NORWAY - 2.1% 23,899 Norske Skogindustrier ASA 291 INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 62,970 Telenor ASA 1,163 --------------- 1,454 --------------- PEOPLE'S REPUBLIC OF CHINA - 3.3% 298,500 China Shenhua Energy Co. Ltd. Cl H 1,294 824,000 China Telecom Corp. Ltd. H Shares 474 850,000 Shanghai Electric Group Corp. Cl H 544 --------------- 2,312 --------------- PORTUGAL - 0.6% 32,950 Portugal Telecom SGPS SA 452 --------------- SINGAPORE - 1.1% 61,500 DBS Group Holdings Ltd. 806 --------------- SOUTH KOREA - 5.3% 10,360 Hyundai Motor Company 768 6,890 Kookmin Bank 556 13,780 Korea Electric Power Corp. 615 19,660 KT Corp. ADR 469 1,370 Samsung Electronics 862 16,530 SK Telecom Co. Ltd. ADR 452 --------------- 3,722 --------------- SPAIN - 4.5% 41,710 Banco Santander Central Hispano SA 762 6,920 Iberdrola SA 384 27,430 Repsol YPF, SA 990 13,460 Telefonica SA ADR 1,005 --------------- 3,141 --------------- SWEDEN - 3.0% 50,980 Atlas Copco AB A Shares 846 12,900 Nordea Bank AB 196 47,630 Nordea Bank AB FDR 725 18,570 Securitas AB B Shares 245 18,570 Securitas Direct AB B Shares(1) 53 18,570 Securitas Systems AB B Shares 65 --------------- 2,130 --------------- SWITZERLAND - 4.1% 2,030 Nestle SA 883 16,660 Novartis AG 879 9,307 Swiss Reinsurance 784 6,520 UBS AG 340 --------------- 2,886 --------------- TAIWAN (REPUBLIC OF CHINA) - 1.9% 676,000 Chinatrust Financial Holding Co.(1) 508 16,044 Chunghwa Telecom Co. Ltd. ADR 281 302,082 Compal Electronics Inc. 336 INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 147,722 Lite-On Technology Corp. 233 --------------- 1,358 --------------- UNITED KINGDOM - 21.5% 23,810 Aviva plc 340 92,850 BAE Systems plc 866 54,390 BP plc 611 65,150 British Airways plc(1) 557 63,150 British Sky Broadcasting Group plc 861 30,150 Burberry Group plc 371 56,630 Cadbury Schweppes plc 669 76,750 Compass Group plc 503 45,210 GKN plc 335 18,940 GlaxoSmithKline plc 495 58,200 HSBC Holdings plc 1,043 145,040 Kingfisher plc 611 32,590 Lloyds TSB Group plc 358 35,602 National Grid plc 533 195,070 Old Mutual plc 628 40,140 Pearson plc 603 139,260 Rentokil Initial plc 486 99,630 Rolls-Royce Group plc 1,027 74,010 Royal Bank of Scotland Group plc 857 17,610 Shire plc 459 16,746 Smiths Group plc 333 19,350 Standard Chartered plc 597 18,085 Unilever plc 570 230,903 Vodafone Group plc 744 61,640 Yell Group plc 561 --------------- 15,018 --------------- TOTAL COMMON STOCKS 66,247 (Cost $40,883) --------------- PREFERRED STOCKS - 1.7% BRAZIL - 1.7% 20,860 Comphania Vale do Rio Doce ADR 871 7,470 Empresa Brasiliera de Aeronautica SA ADR 337 --------------- TOTAL PREFERRED STOCKS 1,208 (Cost $302) --------------- TEMPORARY CASH INVESTMENTS - 3.9% Repurchase Agreement, Deutsche Bank Securities, Inc., (collateralized by various U.S. Treasury obligations, 3.75%, 5/15/08,valued at $2,754), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $2,702) 2,700 (Cost $2,700) --------------- INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- TOTAL INVESTMENT SECURITIES - 100.1% 70,155 (Cost $43,885) --------------- OTHER ASSETS AND LIABILITIES - (0.1)% (38) --------------- TOTAL NET ASSETS - 100.0% $ 70,117 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 22.1% Consumer Discretionary 14.8% Industrials 12.4% Telecommunication Services 11.1% Energy 8.0% Information Technology 6.7% Materials 6.2% Health Care 6.1% Utilities 5.8% Consumer Staples 3.0% Cash and cash equivalents(+) 3.8% (+) Includes temporary cash investments and other assets and liabilities. NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt CVA = Certificaten Van Aandelen FDR = Finnish Depository Receipt (1) Non-income producing. INTERNATIONAL VALUE - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 43,885 =============== Gross tax appreciation of investments $ 27,020 Gross tax depreciation of investments (750) --------------- Net tax appreciation (depreciation) of investments $ 26,270 =============== The cost of investments for federal income tax purposes was the same as the cost for financial reporting purposes. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS INTERNATIONAL STOCK FUND AUGUST 31, 2007 [american century investments logo and text logo] INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 101.2% AUSTRALIA - 4.7% 69,063 BHP Billiton Ltd.(1) $ 2,168 16,061 CSL Ltd. 1,289 20,324 National Australia Bank Ltd. 663 55,149 QBE Insurance Group Ltd. 1,571 8,329 Rio Tinto Ltd.(1) 637 --------------- 6,328 --------------- AUSTRIA - 0.6% 11,400 Erste Bank der Oesterreichischen Sparkassen AG 826 --------------- BELGIUM - 1.9% 9,899 KBC Groupe(1) 1,241 5,896 Umicore 1,350 --------------- 2,591 --------------- BRAZIL - 0.5% 48,100 Redecard SA(2) 735 --------------- CANADA - 2.7% 5,802 EnCana Corp.(1) 339 11,310 Research In Motion Ltd.(2) 966 25,015 Rogers Communications Inc. Cl B 1,138 25,202 Shoppers Drug Mart Corporation 1,272 --------------- 3,715 --------------- CZECH REPUBLIC - 0.8% 21,027 CEZ AS 1,115 --------------- DENMARK - 1.8% 12,578 Novo Nordisk AS Cl B 1,399 14,481 Vestas Wind Systems AS(2) 980 --------------- 2,379 --------------- FINLAND - 2.4% 24,825 Metso Oyj 1,590 49,763 Nokia Oyj 1,639 --------------- 3,229 --------------- FRANCE - 8.2% 6,843 Accor SA 588 6,565 ALSTOM Co. 1,187 39,320 AXA SA 1,575 18,742 Groupe Danone(1) 1,428 5,576 PPR SA 965 9,405 Schneider Electric SA 1,248 6,077 Societe Generale 980 INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 17,627 Suez SA 1,003 28,217 Total SA 2,124 --------------- 11,098 --------------- GERMANY - 11.2% 15,279 adidas AG 898 7,165 Allianz SE 1,536 14,952 Arcandor AG(2) 407 11,846 BASF AG 1,568 9,675 Continental AG 1,258 4,868 DaimlerChrysler AG 432 13,229 Deutsche Boerse AG 1,460 28,086 Fresenius Medical Care AG & Co. KGaA 1,380 43,339 GEA Group AG(2) 1,400 9,721 Hochtief AG 975 3,423 Linde AG 402 12,800 Q-Cells AG(1)(2) 1,134 20,528 SAP AG 1,106 9,835 Siemens AG 1,235 --------------- 15,191 --------------- GREECE - 1.9% 14,123 Hellenic Telecommunications Organization SA 462 35,980 National Bank of Greece SA 2,140 --------------- 2,602 --------------- HONG KONG - 1.1% 99,000 Esprit Holdings Ltd. 1,441 --------------- IRELAND - 1.2% 49,909 Anglo Irish Bank Corp. plc 932 24,186 Kingspan Group plc 626 --------------- 1,558 --------------- ITALY - 4.3% 17,304 Bulgari SpA 243 38,154 ENI SpA 1,319 29,741 Fiat SpA 790 23,253 Finmeccanica SpA 682 26,650 Luxottica Group SpA(1) 910 50,724 Saipem SpA 1,900 --------------- 5,844 --------------- JAPAN - 18.7% 17,500 AEON Mall Co., Ltd. 527 30,200 Canon, Inc. 1,726 29,300 Daikin Industries Ltd. 1,316 7,400 Daito Trust Construction Co., Ltd.(1) 349 55 East Japan Railway Company 438 8,900 Fanuc Ltd. 866 18,200 Ibiden Co. Ltd. 1,547 32,260 iShares MSCI Japan Index Fund 454 80,000 Isuzu Motors Ltd. 435 INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 131 Japan Tobacco Inc. 727 17,700 JTEKT Corp. 281 24,000 Kuraray Co. Ltd. 315 17,600 Makita Corp.(1) 681 150,000 Marubeni Corp. 1,224 53,000 Mitsubishi Electric Corp. 623 5,400 Nintendo Co., Ltd. 2,503 95,000 Nippon Yusen Kabushiki Kaisha(1) 939 15,450 Nitori Co. Ltd. 804 3,340 ORIX Corp. 715 90,000 Osaka Gas Co. Ltd. 334 52,000 Sharp Corp.(1) 905 114,000 Sumitomo Heavy Industries Ltd. 1,276 260,000 Sumitomo Metal Industries Ltd. 1,318 71 Sumitomo Mitsui Financial Group Inc. 561 39,000 Sumitomo Realty & Development Co. Ltd. 1,277 112,000 Taisei Corp.(1) 358 9,200 Terumo Corp. 432 60,000 Tokyo Tatemono Co. Ltd.(1) 793 26,400 Toyota Motor Corp. 1,542 --------------- 25,266 --------------- MEXICO - 1.4% 31,154 America Movil, SAB de CV ADR 1,883 --------------- NETHERLANDS - 2.6% 12,084 ASML Holding N.V.(2) 358 34,431 Heineken N.V.(1) 2,181 19,151 Koninklijke BAM Groep N.V. 519 6,337 Royal Numico N.V. 466 --------------- 3,524 --------------- NORWAY - 1.3% 34,078 Aker Kvaerner ASA 857 31,594 Statoil ASA 911 --------------- 1,768 --------------- PEOPLE'S REPUBLIC OF CHINA - 0.6% 212,500 China Merchants Bank Co. Ltd. Cl H 798 --------------- SINGAPORE - 1.5% 195,000 Keppel Corp. Ltd. 1,636 60,000 Oversea-Chinese Banking Corp. 336 --------------- 1,972 --------------- SOUTH AFRICA - 0.7% 17,015 Anglo American plc 976 --------------- SOUTH KOREA - 0.2% 415 Samsung Electronics 261 --------------- INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- SPAIN - 2.8% 83,645 Banco Bilbao Vizcaya Argentaria SA 1,925 30,888 Inditex SA 1,812 --------------- 3,737 --------------- SWEDEN - 1.4% 22,366 Swedbank AB Cl A(1) 731 331,953 Telefonaktiebolaget LM Ericsson Cl B 1,232 --------------- 1,963 --------------- SWITZERLAND - 11.4% 69,914 ABB Ltd. 1,719 7,568 Actelion Ltd.(2) 420 7,498 Adecco SA 489 24,338 Compagnie Financiere Richemont SA Cl A 1,507 22,658 Credit Suisse Group 1,481 15,607 Holcim Ltd. 1,687 31,277 Julius Baer Holding AG 2,071 4,073 Nestle SA 1,772 16,480 Novartis AG 870 11,192 Roche Holding AG 1,946 4,705 Syngenta AG 881 10,273 UBS AG 536 --------------- 15,379 --------------- TAIWAN (REPUBLIC OF CHINA) - 1.1% 196,320 Hon Hai Precision Industry Co., Ltd. 1,458 --------------- TURKEY - 0.3% 53,122 Turkiye Halk Bankasi AS(2) 357 --------------- UNITED KINGDOM - 13.9% 33,999 Aggreko plc 367 70,980 Barclays plc 878 111,955 BG Group plc 1,793 15,422 British American Tobacco plc 512 45,334 British Sky Broadcasting Group plc 618 86,975 BT Group plc 554 139,518 Burberry Group plc 1,718 74,542 Capita Group plc 1,128 67,697 Carphone Warehouse Group plc 466 31,553 easyJet plc(2) 367 39,416 GlaxoSmithKline plc 1,029 79,223 HSBC Holdings plc 1,434 131,356 International Power plc 1,071 98,253 Man Group plc 978 29,033 Reckitt Benckiser plc 1,580 82,740 Royal Bank of Scotland Group plc 959 INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 203,740 Tesco plc 1,746 483,686 Vodafone Group plc 1,559 --------------- 18,757 --------------- TOTAL COMMON STOCKS 136,751 (Cost $115,814) --------------- PREFERRED STOCKS - 0.3% GERMANY - 0.3% 8,280 Henkel KGaA(1) 427 (Cost $438) --------------- TEMPORARY CASH INVESTMENTS - 0.8% Repurchase Agreement, Deutsche Bank Securities, Inc., (collateralized by various U.S. Treasury obligations, 3.75%, 5/15/08, valued at $1,122), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $1,101) 1,100 (Cost $1,100) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 8.5% Repurchase Agreement, Lehman Brothers, Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $11,474) 11,467 (Cost $11,467) --------------- TOTAL INVESTMENT SECURITIES - 110.8% 149,745 --------------- (Cost $128,819) OTHER ASSETS AND LIABILITIES - (10.8)% (14,627) --------------- TOTAL NET ASSETS - 100.0% $ 135,118 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 21.7% Industrials 18.2% Consumer Discretionary 13.9% Information Technology 10.0% Consumer Staples 8.9% Materials 8.4% Energy 6.9% Health Care 6.5% Telecommunication Services 4.1% Utilities 2.6% Diversified 0.3% Cash and Equivalents(+) (1.5)% (+) Includes temporary cash investments, collateral received for securities lending and other assets and liabilities. INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt MSCI = Morgan Stanley Capital International (1) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $10,994 (in thousands). (2) Non-income producing. (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. INTERNATIONAL STOCK - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 129,054 =============== Gross tax appreciation of investments $ 22,124 Gross tax depreciation of investments (1,433) --------------- Net tax appreciation (depreciation) of investments $ 20,691 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS INTERNATIONAL DISCOVERY FUND AUGUST 31, 2007 [american century investments logo and text logo] INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 98.8% AUSTRALIA - 10.0% 1,069,800 Babcock & Brown Ltd. $ 20,686 22,421,700 Boart Longyear Group,(1) 40,497 1,949,300 Challenger Financial Services Group Ltd. 8,666 597,900 CSL Ltd. 47,985 5,787,600 Oxiana Ltd. 15,703 885,000 Transfield Services Ltd. 9,496 1,027,500 Transpacific Industries Group Ltd. 9,170 666,100 WorleyParsons Ltd. 21,012 --------------- 173,215 --------------- AUSTRIA - 1.8% 224,700 Andritz AG 14,546 233,300 Wienerberger AG 16,649 --------------- 31,195 --------------- BELGIUM - 1.5% 115,403 Umicore 26,433 --------------- CANADA - 7.5% 360,700 Agrium Inc. 16,426 2,029,100 CAE Inc. 26,254 319,800 Finning International Inc. 9,352 895,700 Gildan Activewear Inc.(1) 29,079 1,358,040 Ivanhoe Mines Ltd.(1) 15,255 543,000 Petrobank Energy & Resources Ltd.(1) 16,075 359,700 Silver Wheaton Corp.(1) 4,095 794,800 Sino-Forest Corp.(1) 13,561 --------------- 130,097 --------------- DENMARK - 1.7% 310,900 FLSmidth & Co. AS 29,342 --------------- EGYPT - 0.5% 840,700 Orascom Hotels & Development 8,933 --------------- FINLAND - 1.5% 665,500 Nokian Renkaat Oyj 23,396 47,809 Outotec OYJ 2,743 --------------- 26,139 --------------- FRANCE - 5.1% 196,500 Bourbon SA 12,922 218,700 Neopost SA 33,462 263,800 Nexans SA 42,660 --------------- 89,044 --------------- GERMANY - 6.9% 550,117 Deutz AG(1) 6,454 166,000 GEA Group AG(1) 5,361 INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 111,400 K+S AG 15,998 148,100 Kloeckner & Co. AG 9,035 200,000 Praktiker Bau-und Heimwerkermaerkte AG 8,399 938,600 Premiere AG(1) 20,386 174,700 SGL Carbon AG(1) 8,370 294,000 SolarWorld AG 14,501 917,000 United Internet AG 17,593 469,300 Wacker Construction Equipment AG(1) 14,196 --------------- 120,293 --------------- HONG KONG - 1.7% 14,243,000 C C Land Holdings Ltd. 15,726 3,308,000 Melco International Development Ltd. 5,065 7,732,000 Synear Food Holdings Ltd.(1) 8,310 --------------- 20,791 --------------- INDIA - 0.5% 290,300 ABB India Ltd. 8,030 --------------- IRELAND - 2.1% 227,200 ICON plc ADR(1) 10,378 982,200 Kingspan Group plc 25,429 --------------- 35,807 --------------- ITALY - 2.1% 903,700 Geox SpA 16,464 798,600 Prysmian SpA(1) 19,859 --------------- 36,323 --------------- JAPAN - 12.4% 2,125,000 Japan Steel Works Ltd. (The) 31,484 1,624,000 Kuraray Co. Ltd. 21,341 385,700 Makita Corp. 14,919 1,162,300 Mitsumi Electric Co., Ltd. 43,754 1,389,000 NGK Insulators Ltd. 45,933 1,300 Osaka Securities Exchange Co. Ltd. 4,939 767,600 SHINKO ELECTRIC INDUSTRIES CO., LTD. 17,000 705,000 Tadano Ltd. 9,039 756,000 Taiyo Yuden Co. Ltd. 15,143 126,400 Toyo Tanso Co. Ltd. 12,103 --------------- 215,655 --------------- LUXEMBOURG - 2.1% 430,700 Millicom International Cellular SA(1)(2) 36,321 --------------- MEXICO - 1.3% 450,300 Grupo Aeroportuario del Pacifico, SAB de CV ADR 22,727 --------------- NETHERLANDS - 3.6% 267,600 Fugro N.V. CVA 18,596 INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 1,009,400 Koninklijke BAM Groep N.V. 27,343 290,300 Koninklijke Vopak N.V. 17,009 --------------- 62,948 --------------- NORWAY - 0.9% 847,700 SeaDrill Ltd.(1) 15,784 --------------- PANAMA - 0.3% 106,900 Copa Holdings SA Cl A 5,181 --------------- PEOPLE'S REPUBLIC OF CHINA - 4.4% 13,416,901 Agile Property Holdings Ltd. 24,432 2,404,000 Dongfang Electrical Machinery Co. Ltd. H Shares 16,154 659,600 Focus Media Holding Ltd. ADR(1)(2) 26,562 239,600 Mindray Medical International Ltd. ADR(2) 8,503 --------------- 75,651 --------------- SINGAPORE - 2.7% 2,863,000 Neptune Orient Lines Ltd. 9,193 17,993,600 Noble Group Ltd. 19,692 8,437,000 Yanlord Land Group Ltd. 17,471 --------------- 46,356 --------------- SOUTH AFRICA - 1.3% 342,700 Aquarius Platinum Ltd. 10,505 865,734 Exxaro Resources Ltd. 8,827 372,597 Murray & Roberts Holdings Ltd. 3,932 --------------- 23,264 --------------- SOUTH KOREA - 2.9% 407,000 Hyundai Steel Co. 32,508 116,300 SODIFF Advanced Materials Co. Ltd. 6,403 7,244,000 STX Pan Ocean Co. Ltd. 11,061 --------------- 49,972 --------------- SPAIN - 1.7% 448,000 Tecnicas Reunidas SA 29,277 --------------- SWEDEN - 2.1% 1,000,500 Hexagon AB Cl B 20,272 586,400 Lindab International AB 16,153 --------------- 36,425 --------------- SWITZERLAND - 4.1% 64,000 Basilea Pharmaceutica AG(1) 13,934 6,300 Lindt & Spruengli AG 19,099 234,200 Lonza Group AG 22,975 INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 7,300 Sika AG 14,715 --------------- 70,723 --------------- TAIWAN (REPUBLIC OF CHINA) - 3.2% 1,770,933 Catcher Technology Co. Ltd.(1) 14,167 5,334,060 Coretronic Corp. 7,839 67,518,000 HannStar Display Corp.(1) 18,190 2,959,950 Realtek Semiconductor Corp. 14,486 --------------- 54,682 --------------- TURKEY - 0.3% 861,001 Asya Katilim Bankasi AS(1) 5,625 --------------- UNITED KINGDOM - 12.6% 668,100 Aggreko plc 7,215 866,086 AVEVA Group plc 16,217 2,824,800 Carphone Warehouse Group plc 19,425 1,151,100 Croda International plc 15,321 211,573 Expro International Group plc 4,309 1,456,317 Ferrexpo plc(1) 5,550 3,176,000 IG Group Holdings plc 20,062 1,293,900 Intertek Group plc 25,622 2,634,100 Michael Page International plc 25,483 423,700 Punch Taverns plc 9,390 497,938 Rotork plc 10,111 2,459,200 Serco Group plc 20,940 534,200 SIG plc 13,789 1,301,400 VT Group plc 15,037 375,400 WS Atkins plc 8,092 --------------- 216,563 --------------- TOTAL COMMON STOCKS 1,711,106 (Cost $1,308,145) --------------- TEMPORARY CASH INVESTMENTS - 1.3% Repurchase Agreement, Deutsche Bank Securities, Inc., (collateralized by various U.S. Treasury obligations, 3.75%, 5/15/08,valued at $22,340), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $21,912) 21,900 (Cost $21,900) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 2.3% Repurchase Agreement, Lehman Brothers, Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $40,530) 40,506 (Cost $40,506) --------------- INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- TOTAL INVESTMENT SECURITIES - 102.4% 1,773,512 (Cost $1,370,551) --------------- OTHER ASSETS AND LIABILITIES - (2.4)% (40,993) --------------- TOTAL NET ASSETS - 100.0% $ 1,732,519 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Industrials 42.1% Materials 14.2% Information Technology 12.0% Consumer Discretionary 11.1% Financials 5.9% Energy 5.1% Health Care 4.7% Telecommunication Services 2.1% Consumer Staples 1.6% Cash and cash equivalents(+) 1.2% (+) Includes temporary cash investments and other assets and liabilities. NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt CVA = Certificaten Van Aandelen (1) Non-income producing. (2) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $40,123 (in thousands). (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. INTERNATIONAL DISCOVERY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULES OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 1,375,662 =============== Gross tax appreciation of investments $ 418,336 Gross tax depreciation of investments (20,486) --------------- Net tax appreciation (depreciation) of investments $ 397,850 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS INTERNATIONAL OPPORTUNITIES FUND AUGUST 31, 2007 [american century investments logo and text logo] INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 97.1% AUSTRALIA - 1.6% 462,253 Arrow Energy NL(1)(2) $ 1,001 126,432 Bradken Ltd. 1,091 423,744 HFA Holdings Ltd.(2) 686 147,357 Reverse Corp. Ltd. 526 --------------- 3,304 --------------- BRAZIL - 1.1% 120,800 Drogasil SA(1) 924 54,386 Dufry South America Ltd. BDR(1) 1,339 --------------- 2,263 --------------- CANADA - 4.1% 664,400 Bayou Bend Petroleum Ltd.(1) 737 67,919 Canadian Western Bank 1,671 78,102 Forzani Group Ltd. (The) Cl A(1) 1,555 57,991 Major Drilling Group International Inc.(1) 2,417 73,124 Petrobank Energy & Resources Ltd.(1) 2,165 --------------- 8,545 --------------- DENMARK - 1.9% 26,145 East Asiatic Co. Ltd. AS (The) 1,762 96,445 TK Development AS(1)(2) 2,152 --------------- 3,914 --------------- FRANCE - 5.1% 20,804 Kaufman & Broad SA 1,422 17,118 Meetic(1) 646 28,392 Nexans SA 4,591 34,881 Sechilienne-Sidec 2,558 28,020 SeLoger.com(1) 1,405 --------------- 10,622 --------------- GERMANY - 8.9% 8,215 Bauer AG 618 127,719 D+S europe AG(1)(2) 2,481 41,513 Gerry Weber International AG 1,302 105,522 Kontron AG 2,163 34,215 Leoni AG 1,794 44,593 Software AG 4,445 6,573 Solon AG Fuer(1) 532 28,137 Vossloh AG 3,036 176,459 Wire Card AG(1) 2,440 --------------- 18,811 --------------- GREECE - 1.7% 57,191 Hellenic Exchanges SA 1,571 111,683 Michaniki SA 989 70,530 Sprider Stores SA 1,009 --------------- 3,569 --------------- INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- HONG KONG - 6.2% 1,530,000 Huabao International Holdings Ltd. 1,332 1,248,500 Neo-Neon Holdings Ltd.(1)(2) 2,440 862,000 Peace Mark Holdings Ltd. 1,282 15,100,000 REXCAPITAL Financial Holdings Ltd.(1) 2,091 2,330,000 Singamas Container Holdings Ltd. 1,443 4,160,000 Teem Foundation Group Ltd. 1,773 143,000 Vtech Holdings Ltd. 1,082 1,444,000 Xinyi Glass Holdings Co. Ltd. 1,587 --------------- 13,030 --------------- INDIA - 0.7% 470,077 NIIT Ltd. 1,450 --------------- INDONESIA - 1.4% 7,027,600 PT Bakrie Sumatera Plantations Tbk 1,070 4,649,000 PT Sumalindo Lestari Jaya Tbk(1) 1,832 --------------- 2,902 --------------- IRELAND - 0.7% 224,452 Greencore Group plc 1,407 --------------- ITALY - 3.2% 142,825 Ansaldo STS SpA(1) 1,942 69,135 Azimut Holding SpA(2) 1,053 2,590 Digital Multimedia Technologies SpA(1) 195 93,787 MARR SpA 969 314,185 Polynt SpA 1,331 126,333 SNAI SpA(1) 1,251 --------------- 6,741 --------------- JAPAN - 12.2% 29,900 Advan Co., Ltd.(2) 264 147,700 Capcom Co. Ltd.(2) 3,175 190,200 Hosiden Corp.(2) 2,738 149 MID REIT, Inc. 718 243,000 Nichias Corp. 2,552 259,000 Nippon Chemi-Con Corp.(2) 2,563 170 Nippon Commercial Investment Corp. 665 316,000 Nippon Synthetic Chemical Industry Co., Ltd. (The) 1,872 150,600 Shinko Plantech Co. Ltd. 1,904 174,000 Takasago Thermal Engineering Co. Ltd.(2) 1,783 46,500 Tamron Co. Ltd. 1,546 304,000 Tokai Carbon Co. Ltd.(2) 3,512 25,872 Toyo Tanso Co. Ltd.(2) 2,477 --------------- 25,769 --------------- MALAYSIA - 1.0% 2,013,000 Malaysian Plantations Bhd(1) 1,649 1,140,500 Tradewinds Corp. Bhd(1) 463 --------------- 2,112 --------------- INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- MEXICO - 0.3% 335,673 Sare Holding, SAB de CV Cl B(1)(2) 563 --------------- NETHERLANDS - 7.1% 27,185 Arcadis N.V. 2,179 70,691 Draka Holding(2) 3,454 36,718 Imtech N.V.(2) 3,230 36,452 Sligro Food Group N.V. 1,687 19,800 TKH Group N.V. CVA 514 168,799 Wavin N.V. 3,959 --------------- 15,023 --------------- NORWAY - 3.3% 46,130 Acta Holding ASA 225 381,527 Deep Sea Supply plc 1,742 65,435 Ementor ASA(1) 545 109,305 Golden Ocean Group Ltd. 565 41,470 Leroy Seafood Group ASA 989 158,334 ODIM ASA(1)(2) 1,915 271,315 StepStone ASA(1) 959 --------------- 6,940 --------------- PEOPLE'S REPUBLIC OF CHINA - 6.3% 1,528,000 China National Building Material Co. Ltd. Cl H 4,252 670,466 Greentown China Holdings Ltd. 1,455 1,650,000 Haitian International Holdings Ltd.(1) 1,240 974,000 Li Ning Co. Ltd.(2) 2,767 4,276,000 Shenzhen Investment Ltd. 3,508 --------------- 13,222 --------------- PHILIPPINES - 0.4% 25,871,800 Filinvest Land Inc.(1) 880 --------------- PORTUGAL - 1.2% 136,468 Impresa SGPS(1)(2) 506 270,554 Mota-Engil SGPS SA 2,098 --------------- 2,604 --------------- SINGAPORE - 2.8% 407,000 Ezra Holdings Ltd. 1,574 270,000 Ho Bee Investment Ltd. 322 584,000 Midas Holdings Ltd. 543 2,180,000 Straits Asia Resources Ltd.(2) 1,970 1,016,000 Tat Hong Holdings Ltd. 1,399 --------------- 5,808 --------------- SOUTH AFRICA - 1.4% 130,239 JSE Ltd. 1,296 215,805 Spar Group Ltd. (The) 1,579 --------------- 2,875 --------------- INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- SOUTH KOREA - 2.9% 100,730 LIG Non-Life Insurance Co., Ltd. 2,778 8,750 MegaStudy Co., Ltd. 1,985 420 Osstem Implant Co., Ltd.(1) 16 37,400 TK Corp. 1,290 --------------- 6,069 --------------- SPAIN - 4.8% 53,113 Campofrio Alimentacion SA 991 68,782 Corporacion Dermoestetica(1)(2) 819 174,212 Grifols SA 3,649 286,497 Tubacex SA(2) 2,459 90,372 Viscofan SA 2,167 --------------- 10,085 --------------- SWEDEN - 1.4% 29,623 Hemtex AB(2) 550 112,168 Intrum Justitia AB 1,435 127,843 Rezidor Hotel Group AB 940 --------------- 2,925 --------------- SWITZERLAND - 4.9% 10,389 Bucher Industries AG 1,755 4,663 Burckhardt Compression Holding AG 1,019 4,448 Galenica Holding AG 1,659 4,223 Georg Fischer AG 3,191 21,934 SCHMOLZ+BICKENBACH AG 2,070 4,269 Schulthess Group AG(2) 527 --------------- 10,221 --------------- TAIWAN (REPUBLIC OF CHINA) - 1.1% 237,000 Gemtek Technology Corp. 588 491,680 Merry Electronics Co. Ltd. 1,669 --------------- 2,257 --------------- TURKEY - 0.7% 234,642 Asya Katilim Bankasi AS(1) 1,533 --------------- UNITED KINGDOM - 8.7% 233,513 Babcock International Group plc 2,575 30,991 Chemring Group plc 1,254 183,462 Gyrus Group plc(1) 1,646 141,235 Hikma Pharmaceuticals plc 1,173 184,218 IG Group Holdings plc 1,164 312,353 MITIE Group plc 1,635 5,517 QXL Ricardo plc(1) 126 234,734 Restaurant Group plc 1,436 157,809 RPS Group plc 1,222 314,925 Southern Cross Healthcare Ltd. 3,219 69,384 SThree plc 483 INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES ($ IN THOUSANDS) VALUE -------------------------------------------------------------------------------- 48,793 Ultra Electronics Holdings plc 1,156 237,978 Xchanging Ltd.(1) 1,358 --------------- 18,447 --------------- TOTAL COMMON STOCKS 203,891 (Cost $158,148) --------------- PREFERRED STOCKS - 0.5% GERMANY - 0.5% 17,535 Hugo Boss AG(2) 1,036 (Cost $524) --------------- TEMPORARY CASH INVESTMENTS - 0.8% Repurchase Agreement, Deutsche Bank Securities, Inc., (collateralized by various U.S. Treasury obligations, 3.75%, 5/15/08, valued at $1,632), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $1,601) 1,600 (Cost $1,600) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 10.9% Repurchase Agreement, Lehman Brothers, Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $22,902) 22,889 (Cost $22,889) --------------- TOTAL INVESTMENT SECURITIES - 109.3% 229,416 --------------- (Cost $183,161) OTHER ASSETS AND LIABILITIES - (9.3)% (19,587) --------------- TOTAL NET ASSETS - 100.0% $ 209,829 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Industrials 33.0% Consumer Discretionary 13.7% Financials 12.2% Information Technology 10.2% Materials 9.8% Consumer Staples 6.5% Health Care 5.8% Energy 4.9% Utilities 1.2% Telecommunication Services 0.3% Cash and Equivalents(+) 2.4% (+) Includes temporary cash investments, collateral received for securities lending and other assets and liabilities. INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- NOTES TO SCHEDULE OF INVESTMENTS BDR = Brazilian Depositary Receipt CVA = Certificaten Van Aandelen (1) Non-income producing. (2) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $21,899 (in thousands). (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. The aggregate value of fair valued securities as of August 31, 2007, was $2,112 (in thousands), which represented 1.0% of total net assets. INTERNATIONAL OPPORTUNITIES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) ($ IN THOUSANDS) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $ 183,564 =============== Gross tax appreciation of investments $ 48,469 Gross tax depreciation of investments (2,617) --------------- Net tax appreciation (depreciation) of investments $ 45,852 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS LIFE SCIENCES FUND AUGUST 31, 2007 [american century investments logo and text logo] LIFE SCIENCES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 97.8% BIOTECHNOLOGY - 4.0% 21,051 Celgene Corp.(1) $ 1,351,685 74,204 Gilead Sciences, Inc.(1) 2,698,799 --------------- 4,050,484 --------------- CHEMICALS - 2.0% 44,250 Sigma-Aldrich Corp. 1,982,400 --------------- FOOD & STAPLES RETAILING - 1.5% 40,500 CVS/Caremark Corp. 1,531,710 --------------- HEALTH CARE EQUIPMENT & SUPPLIES - 30.0% 20,000 Alcon, Inc. 2,705,200 38,177 Bard (C.R.), Inc. 3,183,580 62,068 Baxter International Inc. 3,398,844 15,570 Beckman Coulter, Inc. 1,120,262 27,982 Becton, Dickinson & Co. 2,152,935 57,000 DENTSPLY International Inc. 2,244,660 31,985 Insulet Corp.(1) 563,576 21,172 Inverness Medical Innovations, Inc.(1) 1,019,220 54,250 Medtronic, Inc. 2,866,570 23,000 Mentor Corp. 1,025,570 17,000 Mettler-Toledo International, Inc.(1) 1,603,270 61,500 Respironics, Inc.(1) 2,916,945 34,776 St. Jude Medical, Inc.(1) 1,515,190 31,000 TomoTherapy Inc.(1) 739,970 37,000 Zimmer Holdings Inc.(1) 2,898,210 --------------- 29,954,002 --------------- HEALTH CARE PROVIDERS & SERVICES - 20.1% 22,345 Cardinal Health, Inc. 1,527,951 21,500 Humana Inc.(1) 1,377,935 20,000 Laboratory Corp. of America Holdings(1) 1,553,200 65,000 Manor Care, Inc. 4,152,849 25,491 Owens & Minor Inc. 1,017,091 57,417 Psychiatric Solutions, Inc.(1) 2,116,391 53,000 Skilled Healthcare Group Inc. Cl A(1) 770,090 170,500 Sun Healthcare Group, Inc.(1) 2,535,335 47,000 Sunrise Senior Living, Inc.(1) 1,683,070 39,675 UnitedHealth Group Inc. 1,984,147 18,300 WellPoint Inc.(1) 1,474,797 --------------- 20,192,856 --------------- LIFE SCIENCES TOOLS & SERVICES - 10.7% 15,000 Covance Inc.(1) 1,099,800 21,000 Millipore Corp.(1) 1,463,280 100,000 Thermo Fisher Scientific Inc.(1) 5,423,000 LIFE SCIENCES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 43,850 Waters Corp.(1) 2,699,845 --------------- 10,685,925 --------------- PHARMACEUTICALS - 29.5% 76,500 Abbott Laboratories 3,971,115 27,196 Allergan, Inc. 1,632,032 53,330 Bristol-Myers Squibb Co. 1,554,570 66,873 Elan Corp. plc ADR(1) 1,295,999 20,887 Johnson & Johnson 1,290,608 100,000 Merck & Co., Inc. 5,016,999 47,500 Novartis AG ADR 2,500,875 15,250 Roche Holding AG ORD 2,651,186 86,970 Schering-Plough Corp. 2,610,839 48,500 Shire plc ADR 3,818,890 30,000 Teva Pharmaceutical Industries Ltd. ADR 1,290,000 43,000 Wyeth 1,990,900 --------------- 29,624,013 --------------- TOTAL COMMON STOCKS 98,021,390 (Cost $82,877,175) --------------- TEMPORARY CASH INVESTMENTS - 2.7% Repurchase Agreement, Morgan Stanley Group, Inc., (collateralized by various U.S. Treasury obligations, 5.50%, 5/15/09, valued at $2,754,672), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $2,701,515) 2,700,000 --------------- (Cost $2,700,000) TOTAL INVESTMENT SECURITIES - 100.5% 100,721,390 --------------- (Cost $85,577,175) OTHER ASSETS AND LIABILITIES - (0.5)% (453,913) --------------- TOTAL NET ASSETS - 100.0% $100,267,477 =============== FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS Contracts Settlement Unrealized to Sell Date Value Gain (Loss) -------------------------------------------------------------------------------- 1,598,200 CHF for USD 9/28/07 $1,325,887 $10,278 ================================ (Value on Settlement Date $1,336,165) NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt CHF = Swiss Franc ORD = Foreign Ordinary Share USD = United States Dollar (1) Non-income producing. LIFE SCIENCES - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $85,577,175 =============== Gross tax appreciation of investments $15,773,351 Gross tax depreciation of investments (629,136) --------------- Net tax appreciation (depreciation) of investments $15,144,215 =============== The cost of investments for federal income tax purposes was the same as the cost for financial statement purposes. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS TECHNOLOGY FUND AUGUST 31, 2007 [american century investments logo and text logo] TECHNOLOGY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 98.0% AEROSPACE & DEFENSE - 2.2% 21,937 Precision Castparts Corp. $ 2,858,610 --------------- COMMUNICATIONS EQUIPMENT - 24.5% 27,972 Blue Coat Systems, Inc.(1) 2,333,145 62,274 Ceragon Networks Ltd.(1) 1,049,317 50,286 Ciena Corp.(1) 1,904,834 198,155 Cisco Systems Inc.(1) 6,325,108 179,806 Corning Inc. 4,202,066 86,007 Foundry Networks, Inc.(1) 1,590,269 120,033 Juniper Networks, Inc.(1) 3,951,486 66,959 Plantronics, Inc. 1,901,636 95,718 Research In Motion Ltd.(1) 8,175,274 --------------- 31,433,135 --------------- COMPUTERS & PERIPHERALS - 9.9% 19,635 Apple Inc.(1) 2,719,055 61,639 Hewlett-Packard Co. 3,041,885 107,900 High Tech Computer Corp. ORD 1,463,189 65,753 SanDisk Corp.(1) 3,686,113 201,000 Toshiba Corp. ORD 1,811,811 --------------- 12,722,053 --------------- ELECTRICAL EQUIPMENT - 2.5% 195,000 BYD Co. Ltd. Cl H ORD 1,409,102 35,804 Emerson Electric Co. 1,762,631 --------------- 3,171,733 --------------- ELECTRONIC EQUIPMENT & INSTRUMENTS - 3.0% 185,000 Everlight Electronics Co. Ltd. ORD 801,667 88,692 LG.Philips LCD Co., Ltd. ADR(1) 1,894,461 1,706,079 Universal Scientific Industrial Co., Ltd. ORD 1,142,556 --------------- 3,838,684 --------------- INTERNET SOFTWARE & SERVICES - 5.7% 67,570 Chordiant Software, Inc.(1) 1,009,496 12,271 Google Inc. Cl A(1) 6,322,633 --------------- 7,332,129 --------------- IT SERVICES - 6.3% 36,925 Accenture Ltd. Cl A 1,521,679 12,216 DST Systems, Inc.(1) 934,035 39,858 International Business Machines Corp. 4,651,030 TECHNOLOGY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 7,023 MasterCard Inc. Cl A 962,081 --------------- 8,068,825 --------------- OFFICE ELECTRONICS - 0.7% 463,426 Ability Enterprise Co., Ltd. ORD 908,596 --------------- SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 29.2% 132,975 Applied Materials, Inc. 2,840,346 43,823 Cabot Microelectronics Corp.(1) 1,828,296 23,870 Cavium Networks Inc.(1) 669,315 106,473 Cree, Inc.(1) 2,832,182 237,826 EMCORE Corp.(1) 2,235,564 327,158 Epistar Corp. ORD 1,536,651 245,770 Intel Corp. 6,328,577 33,835 MEMC Electronic Materials Inc.(1) 2,078,146 101,296 Microsemi Corp.(1) 2,568,867 14,000 Miraial Co. Ltd. ORD 808,669 94,729 Monolithic Power Systems, Inc.(1) 1,940,050 50,832 Netlogic Microsystems Inc.(1) 1,490,903 80,545 NVIDIA Corp.(1) 4,120,681 146,685 Realtek Semiconductor Corp. ORD 717,868 202,019 Semtech Corp.(1) 3,604,019 34,234 Varian Semiconductor Equipment Associates, Inc.(1) 1,904,437 --------------- 37,504,571 --------------- SOFTWARE - 13.0% 66,023 Adobe Systems Inc.(1) 2,822,483 47,671 Aladdin Knowledge Systems Ltd.(1) 1,018,253 52,261 Citrix Systems, Inc.(1) 1,899,687 53,072 Microsoft Corporation 1,524,759 5,800 Nintendo Co., Ltd. ORD 2,689,173 105,370 Oracle Corp.(1) 2,136,904 148,558 Sandvine Corp. ORD(1) 801,265 106,619 VASCO Data Security International, Inc.(1) 3,339,307 6,663 VMware, Inc. Cl A(1) 459,014 --------------- 16,690,845 --------------- WIRELESS TELECOMMUNICATION SERVICES - 1.0% 21,520 America Movil, SAB de CV ADR 1,301,099 --------------- TOTAL COMMON STOCKS 125,830,280 (Cost $105,606,779) --------------- TECHNOLOGY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) VALUE -------------------------------------------------------------------------------- TEMPORARY CASH INVESTMENTS - 1.1% Repurchase Agreement, Bank of America Securities, LLC, (collateralized by various U.S. Treasury obligations, 2.375%, 1/15/25, valued at $1,577,201), in a joint trading account at 4.95%, dated 8/31/07, due 9/4/07 (Delivery value $1,400,770) 1,400,000 --------------- (Cost $1,400,000) TOTAL INVESTMENT SECURITIES - 99.1% 127,230,280 --------------- (Cost $107,006,779) OTHER ASSETS AND LIABILITIES - 0.9% 1,214,657 --------------- TOTAL NET ASSETS - 100.0% $ 128,444,937 =============== NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt ORD = Foreign Ordinary Share (1) Non-income producing. TECHNOLOGY - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $107,170,482 =============== Gross tax appreciation of investments $ 20,661,835 Gross tax depreciation of investments (602,037) --------------- Net tax appreciation (depreciation) of investments $ 20,059,798 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.





AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS NT INTERNATIONAL GROWTH FUND AUGUST 31, 2007 [american century investments logo and text logo] NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 98.8% AUSTRALIA - 4.8% 27,531 BHP Billiton Ltd.(1) $ 864,439 7,000 CSL Ltd. 561,778 9,358 National Australia Bank Ltd. 305,454 28,623 QBE Insurance Group Ltd.(1) 815,216 4,946 Rio Tinto Ltd.(1) 378,019 --------------- 2,924,906 --------------- AUSTRIA - 0.8% 6,335 Erste Bank der Oesterreichischen Sparkassen AG 459,140 --------------- BELGIUM - 1.9% 4,355 KBC Groupe(1) 546,058 2,600 Umicore 595,538 --------------- 1,141,596 --------------- BRAZIL - 0.5% 20,700 Redecard SA(2) 316,514 --------------- CANADA - 2.9% 2,500 EnCana Corp.(1) 146,250 6,400 Research In Motion Ltd.(2) 546,624 11,700 Rogers Communications Inc. Cl B 532,126 10,895 Shoppers Drug Mart Corporation 550,043 --------------- 1,775,043 --------------- CZECH REPUBLIC - 0.5% 5,700 CEZ AS 302,200 --------------- DENMARK - 1.9% 6,400 Novo Nordisk AS Cl B 711,709 6,900 Vestas Wind Systems AS(2) 466,950 --------------- 1,178,659 --------------- FINLAND - 2.3% 11,000 Metso Oyj 704,764 21,200 Nokia Oyj 698,202 --------------- 1,402,966 --------------- FRANCE - 7.6% 3,721 Accor SA 319,475 2,900 ALSTOM Co. 524,251 15,531 AXA SA 622,391 7,982 Groupe Danone 608,092 2,367 PPR SA 409,288 4,000 Schneider Electric SA 531,414 2,678 Societe Generale 431,937 4,400 Suez SA 250,250 NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 12,024 Total SA 905,216 --------------- 4,602,314 --------------- GERMANY - 10.9% 7,800 adidas AG 458,610 3,000 Allianz SE 643,093 3,774 Arcandor AG(2) 102,849 5,000 BASF AG 661,747 4,100 Continental AG 533,024 5,840 Deutsche Boerse AG 644,564 10,370 Fresenius Medical Care AG & Co. KGaA 509,534 19,552 GEA Group AG(2) 631,405 4,200 Hochtief AG 421,379 2,100 K+S AG 301,569 1,500 Linde AG 176,082 5,600 Q-Cells AG(2) 495,986 8,800 SAP AG 473,999 4,300 Siemens AG 540,158 --------------- 6,593,999 --------------- GREECE - 1.6% 16,000 National Bank of Greece SA 951,858 --------------- HONG KONG - 1.3% 52,700 Esprit Holdings Ltd. 767,044 --------------- INDIA - 3.2% 5,400 Bharat Heavy Electricals Ltd. 251,019 15,400 Bharti Airtel Ltd.(2) 334,260 9,700 Housing Development Finance Corp. Ltd. 471,634 25,100 Reliance Communication Ventures Ltd. 335,367 5,900 Reliance Industries Ltd. 284,475 9,700 Tata Consultancy Services Ltd. 254,195 --------------- 1,930,950 --------------- IRELAND - 1.1% 21,393 Anglo Irish Bank Corp. plc 399,356 11,200 Kingspan Group plc 289,961 --------------- 689,317 --------------- ITALY - 4.2% 7,500 Bulgari SpA(1) 105,261 17,611 ENI SpA 609,037 12,700 Fiat SpA 337,448 10,200 Finmeccanica SpA 298,957 10,232 Luxottica Group SpA 349,389 22,062 Saipem SpA 826,396 --------------- 2,526,488 --------------- JAPAN - 15.5% 8,100 AEON Mall Co., Ltd. 244,077 13,300 Canon, Inc. 760,197 NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 12,500 Daikin Industries Ltd. 561,215 4,000 Fanuc Ltd. 389,225 9,000 Ibiden Co. Ltd. 765,412 41,000 Isuzu Motors Ltd. 223,018 10,000 Kuraray Co. Ltd.(1) 131,411 10,200 Makita Corp. 394,543 63,000 Marubeni Corp.(1) 514,030 23,000 Mitsubishi Electric Corp. 270,273 2,300 Nintendo Co., Ltd. 1,066,395 42,000 Nippon Yusen Kabushiki Kaisha(1) 415,213 6,600 Nitori Co. Ltd. 343,619 1,500 ORIX Corp. 321,318 22,000 Sharp Corp.(1) 382,749 49,000 Sumitomo Heavy Industries Ltd. 548,722 115,000 Sumitomo Metal Industries Ltd. 582,844 14,000 Sumitomo Realty & Development Co. Ltd. 458,124 4,000 Terumo Corp. 187,878 24,000 Tokyo Tatemono Co. Ltd.(1) 317,251 9,700 Toyota Motor Corp. 566,155 --------------- 9,443,669 --------------- MEXICO - 1.4% 13,848 America Movil, SAB de CV ADR 837,250 --------------- NETHERLANDS - 2.1% 4,900 ASML Holding N.V.(2) 145,086 14,800 Heineken N.V.(1) 937,338 7,800 Koninklijke BAM Groep N.V. 211,290 --------------- 1,293,714 --------------- NORWAY - 1.6% 14,490 Aker Kvaerner ASA 364,292 21,000 Statoil ASA 605,442 --------------- 969,734 --------------- PEOPLE'S REPUBLIC OF CHINA - 0.7% 114,500 China Merchants Bank Co. Ltd. Cl H 430,217 --------------- SINGAPORE - 1.1% 83,000 Keppel Corp. Ltd. 696,199 --------------- SOUTH AFRICA - 0.8% 8,499 Anglo American plc 487,423 --------------- SOUTH KOREA - 0.3% 4,400 Hynix Semiconductor Inc.(2) 158,147 --------------- SPAIN - 2.6% 35,900 Banco Bilbao Vizcaya Argentaria SA 826,214 13,201 Inditex SA 774,370 --------------- 1,600,584 --------------- NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- SWEDEN - 1.4% 9,600 Swedbank AB Cl A(1) 313,857 139,700 Telefonaktiebolaget LM Ericsson Cl B 518,503 --------------- 832,360 --------------- SWITZERLAND - 11.3% 30,015 ABB Ltd. 737,982 6,861 Adecco SA 447,290 10,031 Compagnie Financiere Richemont SA Cl A 621,151 9,700 Credit Suisse Group 633,979 6,600 Holcim Ltd. 713,573 13,600 Julius Baer Holding AG 900,700 2,200 Nestle SA 957,076 7,065 Novartis AG 372,858 4,966 Roche Holding AG 863,329 2,007 Syngenta AG 375,663 4,358 UBS AG 227,289 --------------- 6,850,890 --------------- TAIWAN (REPUBLIC OF CHINA) - 1.2% 100,800 Hon Hai Precision Industry Co., Ltd. 748,364 --------------- UNITED KINGDOM - 13.3% 13,800 Aggreko plc 149,021 31,151 Barclays plc 385,386 48,931 BG Group plc 783,454 19,400 British Sky Broadcasting Group plc 264,263 37,300 BT Group plc 237,499 64,110 Burberry Group plc 789,260 30,278 Capita Group plc 458,234 29,000 Carphone Warehouse Group plc 199,417 15,500 easyJet plc(2) 180,350 17,272 GlaxoSmithKline plc 451,047 33,805 HSBC Holdings plc 611,480 64,800 International Power plc 528,570 56,016 Man Group plc 557,453 13,407 Reckitt Benckiser plc 729,699 31,153 Royal Bank of Scotland Group plc 360,910 89,282 Tesco plc 765,177 206,800 Vodafone Group plc 666,401 --------------- 8,117,621 --------------- TOTAL COMMON STOCKS 60,029,166 (Cost $51,953,168) --------------- PREFERRED STOCKS - 0.4% GERMANY - 0.4% 4,500 Henkel KGaA(1) 231,840 (Cost $239,648) --------------- NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) VALUE -------------------------------------------------------------------------------- TEMPORARY CASH INVESTMENTS - 0.5% Repurchase Agreement, Morgan Stanley Group, Inc., (collateralized by various U.S. Treasury obligations, 5.50%, 5/15/09,valued at $306,075), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $300,168) 300,000 (Cost $300,000) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 7.5% Repurchase Agreement, Lehman Brothers, Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $4,551,677) 4,548,998 (Cost $4,548,998) --------------- TOTAL INVESTMENT SECURITIES - 107.2% 65,110,004 (Cost $57,041,814) --------------- OTHER ASSETS AND LIABILITIES - (7.2)% (4,394,579) --------------- TOTAL NET ASSETS - 100.0% $ 60,715,425 =============== MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 21.1% Industrials 17.7% Consumer Discretionary 13.1% Information Technology 10.6% Materials 8.7% Consumer Staples 7.9% Energy 7.5% Health Care 6.0% Telecommunication Services 4.8% Utilities 1.8% Cash and cash equivalents(+) 0.8% (+) Includes temporary cash investments, collateral received for securities lending, and other assets and liabilities. NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt (1) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $4,374,458. (2) Non-income producing. (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. NT INTERNATIONAL GROWTH - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $57,203,338 =============== Gross tax appreciation of investments $ 8,533,021 Gross tax depreciation of investments (626,355) --------------- Net tax appreciation (depreciation) of investments $ 7,906,666 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






AMERICAN CENTURY(reg.sm) INVESTMENTS QUARTERLY PORTFOLIO HOLDINGS NT EMERGING MARKETS FUND AUGUST 31, 2007 [american century investments logo and text logo] NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- COMMON STOCKS - 98.1% ARGENTINA - 0.3% 2,882 Banco Macro SA ADR $ 78,650 --------------- BRAZIL - 11.5% 18,100 ALL - America Latina Logistica SA 211,074 8,000 Cia Vale do Rio Doce ADR 394,640 7,449 Dufry South America Ltd. BDR(1) 183,378 7,116 JBS SA(1) 33,223 22,800 JBS SA(1) 107,143 17,900 Lojas Renner SA 310,467 13,733 LPS Brasil - Consultoria de Imoveis SA(1) 174,287 8,200 Lupatech SA 174,072 18,700 Net Servicos de Comunicacao SA(1) 278,786 8,064 Petroleo Brasileiro SA ADR 498,678 14,350 Redecard SA(1) 219,419 5,200 Totvs SA 159,021 --------------- 2,744,188 --------------- CHILE - 3.5% 52,300 Cencosud SA 211,696 19,100 Compania Cervecerias Unidas SA 139,489 38,710 La Polar SA 239,836 8,500 LAN Airlines SA ADR(2) 136,424 459,300 Masisa SA 118,738 --------------- 846,183 --------------- CZECH REPUBLIC - 2.2% 4,800 CEZ AS 254,485 1,300 Komercni Banka AS 282,091 --------------- 536,576 --------------- HONG KONG - 4.2% 4,300 China Mobile Ltd. ADR 291,497 214,000 China Yurun Food Group Ltd. 256,864 19,500 Parkson Retail Group Ltd. 155,914 462,000 Samling Global Ltd.(1) 159,963 19,000 Vtech Holdings Ltd. 143,754 --------------- 1,007,992 --------------- HUNGARY - 0.4% 700 MOL Hungarian Oil and Gas Nyrt 100,377 --------------- INDIA - 7.4% 7,100 ABB India Ltd. 196,403 4,900 Bharat Heavy Electricals Ltd. 227,777 11,041 DLF Ltd.(1) 162,531 7,000 ICICI Bank Ltd. ADR 311,150 12,200 JSW Steel Ltd. 192,756 18,200 Reliance Communication Ventures Ltd. 243,174 NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 5,400 Reliance Industries Ltd. 260,367 15,200 Rolta India Ltd. 175,750 --------------- 1,769,908 --------------- INDONESIA - 2.8% 124,000 PT Astra International Tbk 235,719 599,500 PT Bank Mandiri Tbk 207,495 432,500 PT Bumi Resources Tbk 117,452 94,500 PT Telekomunikasi Indonesia Tbk 109,193 --------------- 669,859 --------------- ISRAEL - 0.4% 2,012 Elbit Systems Ltd. 90,379 --------------- KAZAKHSTAN - 0.6% 7,169 KazMunaiGas Exploration Production GDR 153,775 --------------- MALAYSIA - 2.1% 90,400 Bumiputra - Commerce Holdings Bhd 282,958 46,700 Genting Bhd 97,905 114,100 Resorts World Bhd 123,925 --------------- 504,788 --------------- MEXICO - 6.1% 7,000 America Movil, SAB de CV ADR 423,220 39,987 Axtel, SAB de CV(1) 272,512 31,248 Corporacion GEO, SAB de CV Series B(1) 162,549 4,746 Grupo Aeroportuario del Pacifico, SAB de CV ADR 239,531 54,500 Grupo Financiero Banorte, SAB de CV 222,258 34,775 Urbi Desarrollos Urbanos, SA de CV(1) 130,440 --------------- 1,450,510 --------------- PAKISTAN - 0.6% 8,527 Oil & Gas Development Co. Ltd. GDR 153,486 --------------- PEOPLE'S REPUBLIC OF CHINA - 9.9% 200,000 Agile Property Holdings Ltd. 364,194 280,000 China Construction Bank Cl H 234,469 69,500 China Merchants Bank Co. Ltd. Cl H 261,136 126,000 China National Building Material Co. Ltd. Cl H 350,626 192,000 China Petroleum & Chemical Corp. Cl H 209,283 4,772 Focus Media Holding Ltd. ADR(1)(2) 192,168 190,000 Haitian International Holdings Ltd.(1) 142,779 116,000 Nine Dragons Paper Holdings Ltd. 346,600 104,000 Wumart Stores Inc. Cl H 73,405 149,000 Yangzijiang Shipbuilding Holdings Ltd.(1) 181,613 --------------- 2,356,273 --------------- PHILIPPINES - 1.5% 893,000 Alliance Global Group Inc.(1) 107,602 4,235,200 Filinvest Land Inc.(1) 143,983 NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 246,500 Robinsons Land Corp. 95,471 --------------- 347,056 --------------- POLAND - 0.7% 3,700 Agora SA 68,061 600 BRE Bank SA(1) 106,946 --------------- 175,007 --------------- RUSSIAN FEDERATION - 6.5% 4,400 CTC Media Inc.(1) 101,200 3,000 LUKOIL 224,100 3,800 Mobile TeleSystems ADR(1) 251,408 6,773 OAO TMK GDR(1) 260,761 5,401 OJSC Pharmstandard GDR(1) 90,467 36,600 Sberbank(1) 140,178 233,154 Unified Energy System(1) 292,608 6,369 X5 Retail Group N.V. GDR(1) 204,700 --------------- 1,565,422 --------------- SINGAPORE - 1.8% 164,000 Midas Holdings Ltd. 152,608 131,000 Yanlord Land Group Ltd. 271,271 --------------- 423,879 --------------- SOUTH AFRICA - 7.9% 3,676 Anglo American plc 211,735 11,700 Aspen Pharmacare Holdings Ltd. 58,082 6,682 Barloworld Ltd. 114,722 94,200 Dimension Data Holdings plc 108,921 3,600 Impala Platinum Holdings Ltd. 107,016 9,066 Kumba Iron Ore Ltd. 264,292 17,505 Murray & Roberts Holdings Ltd. 184,741 41,432 Pretoria Portland Cement Co. Ltd. 262,761 7,502 Sappi Ltd. 118,024 3,200 Sun International Ltd. 69,741 15,500 Telkom SA Ltd. 382,775 --------------- 1,882,810 --------------- SOUTH KOREA - 14.1% 130 Amorepacific Corp. 92,066 4,130 GS Holdings Corp. 213,317 13,300 Hankook Tire Co. Ltd. 291,070 1,300 Hyundai Department Store Co. Ltd. 146,752 700 Hyundai Heavy Industries Co., Ltd. 275,825 11,100 LG Dacom Corp. 289,617 8,000 LIG Non-Life Insurance Co., Ltd. 220,660 800 MegaStudy Co., Ltd. 181,470 3,000 Modetour Network Inc. 180,511 600 NHN Corp.(1) 115,655 600 POSCO 366,773 800 Samsung Electronics 503,514 NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) SHARES VALUE -------------------------------------------------------------------------------- 4,720 Shinhan Financial Group Co., Ltd. 287,523 300 Shinsegae Co. Ltd. 198,083 --------------- 3,362,836 --------------- TAIWAN (REPUBLIC OF CHINA) - 11.4% 122,611 Asia Cement Corp. 172,027 155,426 China Steel Corp. 211,003 58,080 Hon Hai Precision Industry Co., Ltd. 431,200 19,800 MediaTek Inc. 336,000 60,164 Merry Electronics Co. Ltd. 204,193 48,675 Realtek Semiconductor Corp. 238,213 16,100 Richtek Technology Corp. 176,612 288,725 Shin Kong Financial Holding Co. Ltd. 280,851 129,000 U-Ming Marine Transport Corp.(1) 383,873 163,565 Wistron Corp. 297,391 --------------- 2,731,363 --------------- TURKEY - 2.2% 24,100 Turk Hava Yollari Anonim Ortakligi(1) 167,638 57,500 Turkiye Garanti Bankasi AS 369,029 --------------- 536,667 --------------- TOTAL COMMON STOCKS 23,487,984 (Cost $18,518,039) --------------- PREFERRED STOCKS - 0.4% BRAZIL - 0.4% 3,100 Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR 99,603 (Cost $103,913) --------------- TEMPORARY CASH INVESTMENTS - 1.3% Repurchase Agreement, Morgan Stanley Group, Inc., (collateralized by various U.S. Treasury obligations, 5.50%, 5/15/09, valued at $306,075), in a joint trading account at 5.05%, dated 8/31/07, due 9/4/07 (Delivery value $300,168) 300,000 (Cost $300,000) --------------- TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) - 0.7% Repurchase Agreement, Lehman Brothers Inc., (collateralized by various U.S. Government Agency obligations in a pooled account at the lending agent), 5.30%, dated 8/31/07, due 9/4/07 (Delivery value $157,943) 157,850 (Cost $157,850) --------------- TOTAL INVESTMENT SECURITIES - 100.5% 24,045,437 --------------- (Cost $19,079,802) OTHER ASSETS AND LIABILITIES - (0.5)% (125,907) --------------- TOTAL NET ASSETS - 100.0% $ 23,919,530 =============== NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- MARKET SECTOR DIVERSIFICATION (AS A % OF NET ASSETS) Financials 18.0% Consumer Discretionary 14.7% Materials 13.7% Information Technology 12.1% Industrials 12.0% Telecommunication Services 9.5% Energy 9.2% Consumer Staples 6.4% Utilities 2.3% Health Care 0.6% Cash and Equivalents(+) 1.5% (+) Includes temporary cash investments, securities lending collateral and other assets and liabilities. NOTES TO SCHEDULE OF INVESTMENTS ADR = American Depositary Receipt BDR = Brazilian Depositary Receipt GDR = Global Depositary Receipt OJSC = Open Joint Stock Company (1) Non-income producing. (2) Security, or a portion thereof, was on loan as of August 31, 2007. The aggregate value of securities on loan at August 31, 2007, was $159,799. (3) Investments represent purchases made by the lending agent with cash collateral received through securities lending transactions. As of August 31, 2007, securities with an aggregate value of $504,788 (in thousands), which represented 2.1% of total net assets were valued in accordance with alternative pricing procedures adopted by the Board of Directors. NT EMERGING MARKETS - SCHEDULE OF INVESTMENTS AUGUST 31, 2007 (UNAUDITED) -------------------------------------------------------------------------------- SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 1. FEDERAL TAX INFORMATION As of August 31, 2007, the components of investments for federal income tax purposes were as follows: Federal tax cost of investments $19,101,737 =============== Gross tax appreciation of investments $ 5,229,478 Gross tax depreciation of investments (285,778) --------------- Net tax appreciation (depreciation) of investments $ 4,943,700 =============== The difference between book-basis and tax-basis cost and unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales. 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 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. THE AMERICAN CENTURY INVESTMENTS LOGO, AMERICAN CENTURY AND AMERICAN CENTURY INVESTMENTS ARE SERVICE MARKS OF AMERICAN CENTURY PROPRIETARY HOLDINGS, INC.






ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Separate certifications by the registrant's principal executive officer and principal financial officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as Exhibit 99.CERT.


SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: AMERICAN CENTURY WORLD MUTUAL FUNDS, INC. By: /s/ Jonathan S. Thomas ------------------------------------ Name: Jonathan S. Thomas Title: President Date: October 29, 2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Jonathan S. Thomas ------------------------------------ Name: Jonathan S. Thomas Title: President (principal executive officer) Date: October 29, 2007 By: /s/ Robert J. Leach ------------------------------------ Name: Robert J. Leach Title: Vice President, Treasurer, and Chief Financial Officer (principal financial officer) Date: October 29, 2007