NPORT-EX 2 acd2_internationalgrowth.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
International Growth Fund
February 28, 2023



International Growth - Schedule of Investments
FEBRUARY 28, 2023 (UNAUDITED)
Shares/
Principal Amount ($)
Value ($)
COMMON STOCKS — 100.9%
Australia — 3.3%
CSL Ltd.
351,550 69,946,899 
NEXTDC Ltd.(1)
2,819,788 19,401,230 
89,348,129 
Belgium — 1.2%
KBC Group NV
442,700 33,058,875 
Brazil — 0.4%
Sendas Distribuidora SA
3,123,900 10,823,816 
Canada — 4.5%
Aritzia, Inc.(1)
260,990 7,945,419 
Canadian Pacific Railway Ltd.
609,940 46,323,256 
Element Fleet Management Corp.
1,705,660 24,363,000 
First Quantum Minerals Ltd.
780,000 17,040,528 
GFL Environmental, Inc.(2)
856,409 26,009,141 
121,681,344 
China — 2.3%
H World Group Ltd., ADR
436,340 20,669,426 
Li Ning Co. Ltd.
3,346,500 28,554,698 
Tencent Holdings Ltd.
293,100 12,875,412 
62,099,536 
Denmark — 4.6%
Novo Nordisk A/S, B Shares
830,018 117,244,407 
Vestas Wind Systems A/S
285,620 8,150,149 
125,394,556 
Finland — 0.2%
Neste Oyj
108,190 5,218,138 
France — 20.8%
Air Liquide SA
340,432 54,086,600 
Airbus SE
330,280 43,256,932 
Arkema SA
117,300 11,891,764 
Bureau Veritas SA
780,839 22,305,870 
Capgemini SE
175,570 32,925,708 
Edenred649,477 36,556,613 
EssilorLuxottica SA
124,350 21,556,493 
Hermes International
10,980 19,875,256 
L'Oreal SA
89,010 35,183,232 
LVMH Moet Hennessy Louis Vuitton SE
128,340 106,692,414 
Pernod Ricard SA
184,550 38,499,199 
Safran SA
214,650 30,308,864 
Sartorius Stedim Biotech
43,740 14,245,968 
Schneider Electric SE
368,570 59,139,656 
Thales SA
127,680 17,850,154 
Valeo
963,610 20,018,747 
564,393,470 
Germany — 6.5%
Brenntag SE
206,950 15,588,131 
HUGO BOSS AG
298,870 20,440,993 
Infineon Technologies AG
1,205,561 42,648,384 
Mercedes-Benz Group AG
387,010 29,661,493 



Puma SE572,220 36,424,339 
Symrise AG147,400 15,059,754 
Zalando SE(1)
397,710 15,757,291 
175,580,385 
Hong Kong — 3.5%
AIA Group Ltd.6,224,000 66,148,727 
Hong Kong Exchanges & Clearing Ltd.338,500 13,557,820 
Techtronic Industries Co. Ltd.1,665,500 16,587,156 
96,293,703 
India — 0.7%
HDFC Bank Ltd.987,990 19,108,123 
Indonesia — 0.7%
Bank Central Asia Tbk PT34,499,500 19,786,798 
Ireland — 4.0%
Bank of Ireland Group PLC1,475,810 16,259,165 
CRH PLC(2)
533,460 25,058,465 
ICON PLC(1)
131,200 29,602,656 
Kerry Group PLC, A Shares408,160 39,079,175 
109,999,461 
Italy — 4.3%
Ferrari NV232,660 60,362,752 
Prysmian SpA744,970 28,640,338 
Tenaris SA1,766,600 29,064,341 
118,067,431 
Japan — 10.9%
BayCurrent Consulting, Inc.(2)
1,044,600 41,008,547 
Fast Retailing Co. Ltd.(2)
159,000 31,389,117 
Hoya Corp.277,100 27,433,647 
JMDC, Inc.479,100 15,126,808 
Keyence Corp.137,900 59,604,132 
Kobe Bussan Co. Ltd.902,400 24,668,262 
Lasertec Corp.158,100 25,706,327 
MonotaRO Co. Ltd.2,159,500 29,372,128 
Murata Manufacturing Co. Ltd.296,700 15,881,570 
Obic Co. Ltd.169,200 24,789,376 
294,979,914 
Netherlands — 7.0%
Adyen NV(1)
23,612 33,468,341 
ASML Holding NV138,280 85,229,733 
Koninklijke DSM NV221,169 27,254,657 
Universal Music Group NV1,838,140 43,309,040 
189,261,771 
Spain — 3.2%
Cellnex Telecom SA(1)
1,082,606 40,618,020 
Iberdrola SA4,120,202 47,231,595 
87,849,615 
Sweden — 1.6%
Epiroc AB, A Shares1,058,550 20,343,066 
Hexagon AB, B Shares1,983,920 21,986,936 
42,330,002 
Switzerland — 6.8%
Alcon, Inc.550,789 37,554,316 
Lonza Group AG85,480 50,915,412 
On Holding AG, Class A(1)
520,330 11,379,617 
Partners Group Holding AG8,350 7,906,893 



Sika AG138,189 38,751,644 
Zurich Insurance Group AG78,620 37,293,654 
183,801,536 
Taiwan — 0.6%
Taiwan Semiconductor Manufacturing Co. Ltd.920,000 15,220,381 
Thailand — 0.6%
Kasikornbank PCL4,192,100 16,247,790 
United Kingdom — 13.2%
Ashtead Group PLC337,780 22,350,651 
AstraZeneca PLC649,120 84,566,056 
Compass Group PLC1,108,260 25,602,782 
Halma PLC636,750 16,572,369 
HSBC Holdings PLC(2)
8,066,000 61,352,912 
London Stock Exchange Group PLC414,066 36,943,690 
NatWest Group PLC9,669,158 33,967,180 
Reckitt Benckiser Group PLC485,061 33,655,956 
Segro PLC2,241,880 22,143,222 
Whitbread PLC603,446 22,380,894 
359,535,712 
TOTAL COMMON STOCKS
(Cost $2,308,040,006)
2,740,080,486 
SHORT-TERM INVESTMENTS — 0.3%
Money Market Funds
State Street Institutional U.S. Government Money Market Fund, Premier Class1,200 1,200 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
711,915 711,915 
713,115 
Repurchase Agreements — 0.3%
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 0.50% - 4.375%, 12/15/24 - 11/15/39, valued at $1,963,363), in a joint trading account at 4.44%, dated 2/28/23, due 3/1/23 (Delivery value $1,928,173)1,927,935 
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 0.25%, 07/15/29, valued at $6,122,082), at 4.53%, dated 2/28/23, due 3/1/23 (Delivery value $6,002,755)6,002,000 
7,929,935 
TOTAL SHORT-TERM INVESTMENTS
(Cost $8,643,050)
8,643,050 
TOTAL INVESTMENT SECURITIES — 101.2%
(Cost $2,316,683,056)
2,748,723,536 
OTHER ASSETS AND LIABILITIES — (1.2)%(33,317,924)
TOTAL NET ASSETS — 100.0%$2,715,405,612 

MARKET SECTOR DIVERSIFICATION
(as a % of net assets)
Health Care17.3%
Consumer Discretionary17.0%
Information Technology15.9%
Industrials15.8%
Financials14.3%
Materials7.0%
Consumer Staples6.2%
Communication Services3.6%
Utilities1.7%
Energy1.3%
Real Estate0.8%
Short-Term Investments0.3%
Other Assets and Liabilities(1.2)%




NOTES TO SCHEDULE OF INVESTMENTS
ADRAmerican Depositary Receipt
Category is less than 0.05% of total net assets.
(1)Non-income producing.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $69,764,578. 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 $75,841,150, which includes securities collateral of $75,129,235.



SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Directors oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price. 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 NAV per share. Repurchase agreements are valued at cost, which approximates fair value.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

2. Fair Value Measurements

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

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

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

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

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

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 1Level 2Level 3
Assets
Investment Securities
Common Stocks$87,660,840 $2,652,419,646 — 
Short-Term Investments713,115 7,929,935 — 
$88,373,955 $2,660,349,581 — 
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.