NPORT-EX 2 aclj_ntintlvalue.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
NT International Value Fund
August 31, 2020
    



NT International Value - Schedule of Investments
AUGUST 31, 2020 (UNAUDITED)
Shares/
Principal Amount ($)
Value ($)
COMMON STOCKS — 94.7%
Australia — 6.7%
AGL Energy Ltd.945,499 10,230,723 
Aristocrat Leisure Ltd.404,875 8,298,334 
Australia & New Zealand Banking Group Ltd.631,748 8,352,693 
BHP Group Ltd.407,542 11,229,370 
BlueScope Steel Ltd.201,530 1,850,318 
Commonwealth Bank of Australia167,978 8,327,935 
Fortescue Metals Group Ltd.1,210,369 15,373,860 
National Australia Bank Ltd.245,547 3,187,257 
Santos Ltd.221,974 909,634 
Westpac Banking Corp.277,477 3,538,745 
Woodside Petroleum Ltd.268,767 3,823,405 
75,122,274 
Austria — 0.1%
Raiffeisen Bank International AG(1)
67,531 1,207,888 
Belgium — 0.9%
Ageas SA/NV153,767 6,469,279 
KBC Group NV62,959 3,610,300 
Telenet Group Holding NV9,917 385,445 
10,465,024 
Denmark — 0.6%
Novo Nordisk A/S, B Shares28,072 1,856,019 
Pandora A/S64,847 4,718,751 
6,574,770 
Finland — 1.6%
Fortum Oyj115,002 2,429,587 
Kone Oyj, B Shares173,839 14,916,529 
17,346,116 
France — 10.0%
BNP Paribas SA(1)
321,360 14,003,256 
Bouygues SA(1)
100,242 3,974,218 
CNP Assurances(1)
250,875 3,355,737 
Covivio38,896 2,880,421 
Eiffage SA(1)
62,813 5,784,313 
L'Oreal SA21,288 7,042,229 
Legrand SA126,513 10,547,501 
Peugeot SA(1)
390,208 6,695,875 
Publicis Groupe SA(1)(2)
190,685 6,678,662 
Safran SA(1)
49,023 5,670,525 
Sanofi79,119 8,012,342 
Schneider Electric SE46,906 5,816,768 
Societe Generale SA(1)
126,542 2,046,719 
TOTAL SE492,641 19,491,782 
Valeo SA255,366 7,793,312 
Vinci SA31,524 2,953,776 
112,747,436 
Germany — 9.7%
adidas AG(1)
14,349 4,344,263 
Allianz SE68,076 14,743,553 



Aroundtown SA(1)
198,945 1,088,994 
Bayer AG48,821 3,225,831 
Brenntag AG175,102 10,970,202 
Commerzbank AG(1)
272,184 1,581,648 
Continental AG100,922 10,997,054 
Daimler AG65,456 3,336,550 
Deutsche Boerse AG34,997 6,615,327 
Deutsche Post AG98,112 4,449,141 
GEA Group AG182,495 6,656,042 
Hannover Rueck SE17,403 2,963,643 
Muenchener Rueckversicherungs-Gesellschaft AG51,209 14,710,059 
Porsche Automobil Holding SE, Preference Shares(1)
55,888 3,420,435 
Siemens AG99,283 13,702,942 
Telefonica Deutschland Holding AG2,467,457 6,824,402 
109,630,086 
Hong Kong — 1.7%
BOC Hong Kong Holdings Ltd.656,000 1,845,681 
Hang Seng Bank Ltd.400,200 6,270,834 
Hong Kong Exchanges & Clearing Ltd.46,400 2,332,557 
Sands China Ltd.2,048,000 9,013,705 
19,462,777 
Italy — 2.4%
Enel SpA668,758 6,064,951 
Ferrari NV68,825 13,407,360 
Tenaris SA1,261,452 7,411,414 
26,883,725 
Japan — 21.5%
ABC-Mart, Inc.42,300 2,224,329 
Astellas Pharma, Inc.668,900 10,497,935 
Brother Industries Ltd.311,200 5,139,905 
Chugai Pharmaceutical Co. Ltd.73,800 3,290,608 
Fast Retailing Co. Ltd.2,300 1,370,036 
Hino Motors Ltd.346,600 2,305,553 
Honda Motor Co. Ltd.110,000 2,810,075 
Hoya Corp.22,100 2,170,499 
ITOCHU Corp.49,900 1,279,820 
KDDI Corp.477,200 13,838,431 
LIXIL Group Corp.166,300 3,045,147 
Mitsubishi Chemical Holdings Corp.427,500 2,494,016 
Mitsubishi Electric Corp.177,700 2,439,844 
Mitsubishi UFJ Financial Group, Inc.1,132,300 4,714,239 
Nexon Co. Ltd.234,100 5,496,447 
Nintendo Co. Ltd.24,600 13,158,643 
Nitori Holdings Co. Ltd.56,700 11,844,698 
NTT DOCOMO, Inc.477,200 13,321,975 
Obayashi Corp.847,500 8,248,648 
Ono Pharmaceutical Co. Ltd.41,700 1,257,943 
ORIX Corp.322,700 3,984,121 
Recruit Holdings Co. Ltd.225,200 8,504,300 
Sekisui House Ltd.639,800 12,625,664 
Shin-Etsu Chemical Co. Ltd.49,300 5,956,868 
Shionogi & Co. Ltd.200,500 11,121,456 
Showa Denko KK113,500 2,207,550 
Softbank Corp.395,200 5,187,207 



SoftBank Group Corp.193,000 11,985,084 
Sony Corp.142,800 11,174,420 
Sumitomo Mitsui Financial Group, Inc.316,100 9,271,310 
Tokyo Electron Ltd.39,900 10,172,569 
Toyota Motor Corp.287,800 19,020,426 
Trend Micro, Inc.117,900 7,285,878 
Tsuruha Holdings, Inc.30,500 4,072,700 
Welcia Holdings Co. Ltd.206,000 8,820,419 
242,338,763 
Netherlands — 2.9%
ING Groep NV(1)
661,478 5,381,111 
Koninklijke Ahold Delhaize NV284,581 8,570,623 
Koninklijke DSM NV26,549 4,263,449 
NN Group NV241,834 9,102,976 
Randstad NV111,144 5,788,158 
33,106,317 
New Zealand — 0.3%
a2 Milk Co. Ltd.(1)
235,805 2,944,540 
Norway — 0.4%
Aker BP ASA211,212 4,187,707 
Singapore — 2.4%
DBS Group Holdings Ltd.584,800 8,953,123 
Oversea-Chinese Banking Corp. Ltd.1,443,300 9,182,473 
United Overseas Bank Ltd.604,600 8,678,122 
26,813,718 
Spain — 4.7%
ACS Actividades de Construccion y Servicios SA84,115 2,063,387 
Banco Bilbao Vizcaya Argentaria SA1,904,742 5,629,629 
Banco Santander SA1,187,209 2,666,709 
CaixaBank SA2,176,695 4,825,283 
Enagas SA92,592 2,266,022 
Endesa SA282,714 7,843,548 
Iberdrola SA1,559,591 19,654,386 
Industria de Diseno Textil SA146,325 4,109,425 
Mapfre SA917,120 1,736,881 
Telefonica SA495,946 1,962,332 
52,757,602 
Sweden — 2.8%
Hennes & Mauritz AB, B Shares(2)
106,400 1,698,991 
Industrivarden AB, C Shares(1)
291,440 7,686,228 
Investor AB, B Shares205,296 13,101,232 
Kinnevik AB, Class B(2)
155,756 6,011,153 
Kinnevik AB, Class B - Redemption Shares(1)(2)
155,756 125,148 
Lundin Energy AB114,432 2,794,746 
31,417,498 
Switzerland — 6.8%
Geberit AG21,913 12,615,030 
Kuehne + Nagel International AG(1)
73,737 14,273,836 
Novartis AG180,280 15,539,971 
Partners Group Holding AG8,121 8,240,917 
Roche Holding AG15,419 5,388,600 
UBS Group AG217,458 2,647,090 
Zurich Insurance Group AG49,381 18,270,172 
76,975,616 



United Kingdom — 19.2%
3i Group plc545,468 6,839,468 
Admiral Group plc300,727 10,595,558 
Aviva plc3,043,340 11,500,759 
Barclays plc(1)
1,975,489 2,988,348 
BHP Group plc719,545 16,206,473 
BP plc1,309,044 4,567,626 
Burberry Group plc147,768 2,871,868 
Direct Line Insurance Group plc1,979,649 7,855,500 
Evraz plc2,519,358 10,918,252 
Ferguson plc123,028 12,130,399 
GlaxoSmithKline plc1,232,289 24,249,472 
HSBC Holdings plc990,222 4,364,608 
JD Sports Fashion plc254,017 2,464,506 
Legal & General Group plc4,135,055 12,146,797 
M&G plc2,427,114 5,612,889 
Next plc106,442 8,591,250 
RELX plc70,228 1,598,261 
Rio Tinto plc381,715 23,408,990 
Royal Dutch Shell plc, B Shares1,374,690 19,363,063 
Sage Group plc (The)722,071 7,159,598 
St. James's Place plc427,305 5,596,617 
Standard Life Aberdeen plc2,227,857 7,064,025 
Vodafone Group plc5,252,275 7,749,820 
215,844,147 
TOTAL COMMON STOCKS
(Cost $1,011,433,684)
1,065,826,004 
EXCHANGE-TRADED FUNDS — 1.0%
iShares MSCI EAFE Value ETF
(Cost $11,227,095)
273,460 11,485,320 
TEMPORARY CASH INVESTMENTS — 3.4%
Repurchase Agreement, BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations,
0.125% - 2.375%, 6/30/22 - 4/30/26, valued at $16,943,943), in a joint trading account at 0.05%, dated 8/31/20, due 9/1/20 (Delivery value $16,606,596)
16,606,573 
Repurchase Agreement, Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 2.25%, 11/15/27, valued at $22,596,105), at 0.05%, dated 8/31/20, due 9/1/20 (Delivery value $22,153,031)22,153,000 
State Street Institutional U.S. Government Money Market Fund, Premier Class22,083 22,083 
TOTAL TEMPORARY CASH INVESTMENTS
(Cost $38,781,656)
38,781,656 
TEMPORARY CASH INVESTMENTS - SECURITIES LENDING COLLATERAL(3) — 0.7%
State Street Navigator Securities Lending Government Money Market Portfolio
(Cost $7,793,826)
7,793,826 7,793,826 
TOTAL INVESTMENT SECURITIES — 99.8%
(Cost $1,069,236,261)
1,123,886,806 
OTHER ASSETS AND LIABILITIES — 0.2%2,149,160 
TOTAL NET ASSETS — 100.0%$1,126,035,966 









FUTURES CONTRACTS PURCHASED
Reference EntityContractsExpiration DateNotional AmountUnrealized
Appreciation
(Depreciation)^
MSCI EAFE Index245September 2020$23,276,225$1,709,100

^ Amount represents value and unrealized appreciation (depreciation).


MARKET SECTOR DIVERSIFICATION
(as a % of net assets)
Financials27.3%
Industrials14.3%
Consumer Discretionary13.6%
Materials8.4%
Health Care7.8%
Communication Services7.8%
Energy5.5%
Utilities4.2%
Consumer Staples2.8%
Information Technology2.6%
Real Estate0.4%
Exchange-Traded Funds1.0%
Cash and Equivalents*4.3%
*Includes temporary cash investments, temporary cash investments - securities lending collateral and other assets and liabilities.

NOTES TO SCHEDULE OF INVESTMENTS
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $7,409,210. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $7,793,826.




SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
1. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The Board of Directors has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price. Equity securities initially expressed in local currencies are translated into U.S. dollars at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service.
Open-end management investment companies are valued at the reported net asset value per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Directors or its delegate, in accordance with policies and procedures adopted by the Board of Directors. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s net asset value per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The fund also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that the Board of Directors, or its delegate, deems appropriate. The fund may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.
2. Fair Value Measurements

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

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

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

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

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





The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund’s portfolio holdings.
Level 1 ($)Level 2 ($)Level 3 ($)
Assets
Investment Securities
Common Stocks— 1,065,826,004 — 
Exchange-Traded Funds11,485,320 — — 
Temporary Cash Investments22,083 38,759,573 — 
Temporary Cash Investments - Securities Lending Collateral7,793,826 — — 
19,301,229 1,104,585,577 — 
Other Financial Instruments
Futures Contracts1,709,100 — — 





This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual shareholder report.