NPORT-EX 2 acd4_q1holdings994.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
International Value Fund
February 29, 2024



International Value Fund - Schedule of Investments
FEBRUARY 29, 2024 (UNAUDITED) 
Shares
Value ($)
COMMON STOCKS — 97.3%
  
Australia — 6.9%
  
ANZ Group Holdings Ltd.
564,700 10,467,085 
BHP Group Ltd.
1,073,626 30,776,896 
BlueScope Steel Ltd.
461,993 6,870,056 
Dexus913,667 4,375,396 
Fortescue Ltd.
788,780 13,313,034 
Origin Energy Ltd.
1,241,909 7,255,126 
Rio Tinto Ltd.(1)
30,295 2,439,623 
Scentre Group
1,981,894 4,011,076 
Sonic Healthcare Ltd.
394,466 7,654,918 
South32 Ltd.
1,984,886 3,802,397 
Westpac Banking Corp.
60,976 1,046,302 
Woodside Energy Group Ltd.
595,607 11,750,602 
  103,762,511 
Austria — 1.3%
  
Erste Group Bank AG
467,287 18,683,611 
Belgium — 1.3%
  
Ageas SA
256,228 10,889,579 
UCB SA
78,404 9,046,210 
  19,935,789 
Canada — 2.5%
  
Great-West Lifeco, Inc.(1)
295,438 9,099,442 
Manulife Financial Corp.(1)
472,312 11,209,645 
Nutrien Ltd.
76,389 3,987,324 
Power Corp. of Canada
462,565 13,364,163 
  37,660,574 
Denmark — 0.8%
  
AP Moller - Maersk AS, B Shares
8,572 12,164,892 
Finland — 0.7%
  
Nokia OYJ
1,587,386 5,595,682 
UPM-Kymmene OYJ
146,328 4,897,507 
  10,493,189 
France — 11.2%
  
ArcelorMittal SA
41,894 1,092,821 
AXA SA
270,446 9,628,390 
BNP Paribas SA
218,819 13,133,515 
Cie de Saint-Gobain SA
295,510 22,781,041 
Credit Agricole SA
844,868 11,458,821 
Engie SA
1,147,040 18,405,841 
Gecina SA(1)
84,513 8,163,249 
L'Oreal SA
15,759 7,527,584 
Publicis Groupe SA
150,892 15,965,202 
Sanofi SA
284,185 27,086,960 
Societe Generale SA
574,392 13,949,471 
TotalEnergies SE
303,858 19,367,650 
  168,560,545 
Germany — 7.6%
  
Allianz SE
78,674 21,608,234 
BASF SE
370,738 18,884,279 
Bayerische Motoren Werke AG
45,646 5,399,378 



Commerzbank AG
708,078 8,196,656 
E.ON SE
1,562,756 19,955,294 
Evonik Industries AG
119,614 2,207,977 
Fresenius SE & Co. KGaA
223,197 6,250,668 
Henkel AG & Co. KGaA, Preference Shares
44,044 3,313,597 
RWE AG
168,103 5,631,004 
Siemens AG
113,555 22,480,348 
  113,927,435 
Hong Kong — 2.0%
  
BOC Hong Kong Holdings Ltd.
1,596,000 4,193,025 
CK Asset Holdings Ltd.
1,583,000 7,281,830 
CK Hutchison Holdings Ltd.
2,081,500 10,513,824 
Link REIT
435,100 2,157,490 
Sun Hung Kai Properties Ltd.
598,000 6,017,238 
  30,163,407 
Italy — 5.6%
  
Assicurazioni Generali SpA
533,876 12,663,009 
Enel SpA
1,431,212 9,106,871 
Intesa Sanpaolo SpA
8,323,451 26,505,247 
Mediobanca Banca di Credito Finanziario SpA
556,301 7,577,967 
Stellantis NV
1,030,242 26,950,713 
UniCredit SpA
22,906 767,227 
  83,571,034 
Japan — 23.5%
  
Astellas Pharma, Inc.
255,700 2,794,482 
Canon, Inc.(1)
419,600 12,271,128 
Dai-ichi Life Holdings, Inc.
168,500 3,835,760 
Daiwa House Industry Co. Ltd.
195,900 5,656,504 
Dentsu Group, Inc.
96,900 2,684,681 
Honda Motor Co. Ltd.
2,244,000 26,664,464 
Inpex Corp.
1,193,600 15,909,148 
ITOCHU Corp.(1)
548,000 23,805,628 
Japan Post Bank Co. Ltd.
680,000 7,250,639 
Japan Post Holdings Co. Ltd.
893,600 8,624,295 
JFE Holdings, Inc.
135,800 2,227,162 
KDDI Corp.
270,300 8,171,645 
Marubeni Corp.
812,400 13,463,090 
Mitsubishi Chemical Group Corp.
707,500 4,059,874 
Mitsubishi Corp.
1,688,100 36,208,960 
Mitsubishi Electric Corp.
658,200 10,483,797 
Mitsui & Co. Ltd.
586,800 25,773,747 
Mizuho Financial Group, Inc.
687,200 12,838,328 
MS&AD Insurance Group Holdings, Inc.
468,800 23,426,979 
Nintendo Co. Ltd.
16,700 933,200 
NIPPON EXPRESS HOLDINGS, Inc.
95,700 5,059,335 
Nippon Yusen KK(1)
560,800 17,859,488 
Otsuka Holdings Co. Ltd.
186,800 7,579,690 
Sompo Holdings, Inc.
37,000 2,169,156 
Sumitomo Corp.
388,800 9,127,437 
Sumitomo Mitsui Financial Group, Inc.
310,900 17,321,641 
Takeda Pharmaceutical Co. Ltd.
207,500 6,068,582 
Tokyo Gas Co. Ltd.
270,900 5,929,507 
Toyota Motor Corp.
1,028,400 24,770,467 
Toyota Tsusho Corp.
145,100 9,400,082 
  352,368,896 



Netherlands — 2.8%
  
ABN AMRO Bank NV, CVA
92,731 1,492,882 
ASR Nederland NV
37,022 1,708,741 
ING Groep NV
879,689 12,106,140 
Koninklijke Ahold Delhaize NV
438,420 13,056,959 
Randstad NV
246,507 13,595,856 
  41,960,578 
Norway — 2.0%
  
DNB Bank ASA
82,874 1,659,445 
Equinor ASA
334,289 8,236,470 
Norsk Hydro ASA
1,753,519 9,000,377 
Telenor ASA
199,929 2,186,803 
Yara International ASA
282,184 8,781,314 
  29,864,409 
Singapore — 0.6%
  
Wilmar International Ltd.
3,861,400 9,536,107 
Spain — 3.9%
  
Banco Bilbao Vizcaya Argentaria SA
2,699,332 26,923,894 
Banco Santander SA
2,590,215 10,794,682 
Endesa SA
387,623 6,981,134 
Iberdrola SA
275,496 3,164,113 
Repsol SA
449,736 7,144,083 
Telefonica SA
870,614 3,571,759 
  58,579,665 
Sweden — 1.4%
  
H & M Hennes & Mauritz AB, B Shares
906,920 12,315,105 
Volvo AB, B Shares
299,030 8,239,330 
  20,554,435 
Switzerland — 3.7%
  
Avolta AG(2)
78,060 3,053,018 
Novartis AG
401,528 40,513,164 
Roche Holding AG
37,517 9,809,234 
Sandoz Group AG(2)
86,156 2,665,063 
  56,040,479 
United Kingdom — 19.5%
  
3i Group PLC
262,179 8,191,273 
abrdn PLC
2,401,940 4,783,205 
Barclays PLC
10,253,998 21,430,902 
Barratt Developments PLC
2,444,118 14,420,551 
BP PLC
4,899,745 28,467,827 
Glencore PLC
2,548,110 12,114,038 
GSK PLC
442,557 9,257,602 
HSBC Holdings PLC
3,464,313 26,965,413 
J Sainsbury PLC
2,296,860 7,250,783 
Kingfisher PLC
3,503,967 10,391,346 
Land Securities Group PLC
769,307 6,027,073 
Legal & General Group PLC
3,541,512 10,858,434 
Lloyds Banking Group PLC
10,245,664 6,057,992 
NatWest Group PLC
5,268,004 15,928,330 
Rio Tinto PLC
251,568 16,138,173 
Schroders PLC
273,530 1,363,304 
Shell PLC
964,442 29,830,009 
St. James's Place PLC
745,354 4,745,938 
Standard Chartered PLC
1,038,564 8,781,020 
Taylor Wimpey PLC
6,844,349 11,927,952 



Tesco PLC
5,202,312 18,348,725 
Vodafone Group PLC
13,076,725 11,486,696 
WPP PLC
973,968 8,713,610 
 293,480,196 
TOTAL COMMON STOCKS
(Cost $1,253,185,507)
 1,461,307,752 
SHORT-TERM INVESTMENTS — 5.7%
  
Money Market Funds — 2.5%
  
State Street Navigator Securities Lending Government Money Market Portfolio(3)
38,099,297 38,099,297 
Repurchase Agreements — 3.2%
  
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 3.625% - 3.875%, 9/30/29 - 2/15/53, valued at $4,083,435), in a joint trading account at 5.27%, dated 2/29/24, due 3/1/24 (Delivery value $3,980,656)
 3,980,073 
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.625%, 9/15/26, valued at $35,862,238), at 5.28%, dated 2/29/24, due 3/1/24 (Delivery value $35,164,157)
 35,159,000 
TD Securities (USA) LLC, (collateralized by various U.S. Treasury obligations, 2.625% - 3.875%, 5/31/27 - 9/30/29, valued at $9,506,829), at 5.28%, dated 2/29/24, due 3/1/24 (Delivery value $9,320,367)
 9,319,000 
  48,458,073 
TOTAL SHORT-TERM INVESTMENTS
(Cost $86,557,370)
 86,557,370 
TOTAL INVESTMENT SECURITIES — 103.0%
(Cost $1,339,742,877)
 1,547,865,122 
OTHER ASSETS AND LIABILITIES — (3.0)%
 (45,482,313)
TOTAL NET ASSETS — 100.0%
 $1,502,382,809 

MARKET SECTOR DIVERSIFICATION
(as a % of net assets)
Financials29.5%
Industrials16.0%
Materials9.4%
Consumer Discretionary9.1%
Health Care8.6%
Energy8.0%
Utilities5.1%
Consumer Staples3.9%
Communication Services3.6%
Real Estate2.9%
Information Technology1.2%
Short-Term Investments5.7%
Other Assets and Liabilities(3.0)%

NOTES TO SCHEDULE OF INVESTMENTS
CVACertificaten Van Aandelen
(1)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $52,517,978. 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.
(2)Non-income producing.
(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $55,271,915, which includes securities collateral of $17,172,618.



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. 

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— $1,461,307,752 — 
Short-Term Investments$38,099,297 48,458,073 — 
$38,099,297 $1,509,765,825 — 
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.