NPORT-EX 2 ahjg_acselecthighyieldetf.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
American Century® Select High Yield ETF (AHYB)
November 30, 2021


American Century Select High Yield ETF - Schedule of Investments
NOVEMBER 30, 2021 (UNAUDITED)
Shares/
Principal Amount ($)		Value ($)
CORPORATE BONDS — 94.8%


Aerospace and Defense — 1.7%
Spirit AeroSystems, Inc., 7.50%, 4/15/25(1)
25,000 26,185 
TransDigm, Inc., 6.25%, 3/15/26(1)
50,000 51,947 
TransDigm, Inc., 6.375%, 6/15/26100,000 102,991 
TransDigm, Inc., 7.50%, 3/15/2725,000 26,089 
TransDigm, Inc., 5.50%, 11/15/27100,000 100,803 
TransDigm, Inc., 4.875%, 5/1/2925,000 24,356 
332,371 
Airlines — 1.8%
American Airlines, Inc., 11.75%, 7/15/25(1)
100,000 121,437 
American Airlines, Inc. / AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(1)
50,000 51,171 
Delta Air Lines, Inc., 7.00%, 5/1/25(1)
50,000 57,482 
Hawaiian Brand Intellectual Property Ltd. / HawaiianMiles Loyalty Ltd., 5.75%, 1/20/26(1)
25,000 25,600 
United Airlines Holdings, Inc., 4.25%, 10/1/2275,000 75,952 
United Airlines, Inc., 4.375%, 4/15/26(1)
25,000 25,148 
356,790 
Auto Components — 1.5%
Clarios Global LP, 6.75%, 5/15/25(1)
25,000 26,143 
Goodyear Tire & Rubber Co. (The), 9.50%, 5/31/2550,000 53,937 
Goodyear Tire & Rubber Co. (The), 5.00%, 5/31/26100,000 102,393 
Tenneco, Inc., 5.00%, 7/15/26100,000 95,689 
Tenneco, Inc., 7.875%, 1/15/29(1)
25,000 26,760 
304,922 
Automobiles — 1.4%
Ford Motor Co., 9.00%, 4/22/2550,000 60,800 
Ford Motor Credit Co. LLC, 4.13%, 8/4/25200,000 209,420 
270,220 
Beverages — 0.1%
Primo Water Holdings, Inc., 4.375%, 4/30/29(1)
25,000 24,784 
Building Products — 1.1%
Builders FirstSource, Inc., 4.25%, 2/1/32(1)
25,000 25,148 
Griffon Corp., 5.75%, 3/1/2850,000 51,637 
Masonite International Corp., 3.50%, 2/15/30(1)
25,000 24,240 
PGT Innovations, Inc., 4.375%, 10/1/29(1)
25,000 24,815 
Standard Industries, Inc., 4.375%, 7/15/30(1)
100,000 98,523 
224,363 
Capital Markets — 1.5%
Compass Group Diversified Holdings LLC, 5.25%, 4/15/29(1)
25,000 25,768 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 4.75%, 9/15/2450,000 50,740 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 6.25%, 5/15/2650,000 51,444 
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 5.25%, 5/15/2775,000 76,183 
LCM Investments Holdings II LLC, 4.875%, 5/1/29(1)
75,000 74,847 
MSCI, Inc., 3.625%, 11/1/31(1)
25,000 25,475 
304,457 
Chemicals — 3.3%
Avient Corp., 5.75%, 5/15/25(1)
25,000 25,939 
Consolidated Energy Finance SA, 6.50%, 5/15/26(1)
150,000 154,411 
FXI Holdings, Inc., 12.25%, 11/15/26(1)
25,000 28,039 
NOVA Chemicals Corp., 4.875%, 6/1/24(1)
50,000 51,917 


NOVA Chemicals Corp., 5.25%, 6/1/27(1)
25,000 26,309 
Olin Corp., 5.00%, 2/1/3050,000 52,309 
SCIH Salt Holdings, Inc., 4.875%, 5/1/28(1)
25,000 23,708 
SCIH Salt Holdings, Inc., 6.625%, 5/1/29(1)
25,000 23,125 
Scotts Miracle-Gro Co. (The), 4.00%, 4/1/31(1)
50,000 48,700 
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.375%, 9/1/25(1)
50,000 50,651 
Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc., 5.125%, 4/1/29(1)
50,000 50,144 
Tronox, Inc., 4.625%, 3/15/29(1)
25,000 24,298 
WR Grace Holdings LLC, 4.875%, 6/15/27(1)
100,000 99,344 
658,894 
Commercial Services and Supplies — 2.3%
ADT Security Corp. (The), 4.125%, 8/1/29(1)
25,000 24,371 
ADT Security Corp. (The), 4.875%, 7/15/32(1)
50,000 49,589 
Allied Universal Holdco LLC / Allied Universal Finance Corp., 6.625%, 7/15/26(1)
75,000 77,164 
APX Group, Inc., 5.75%, 7/15/29(1)
25,000 24,418 
Brink's Co. (The), 4.625%, 10/15/27(1)
50,000 51,110 
Matthews International Corp., 5.25%, 12/1/25(1)
50,000 51,119 
Metis Merger Sub LLC, 6.50%, 5/15/29(1)
75,000 73,438 
Prime Security Services Borrower LLC / Prime Finance, Inc., 3.375%, 8/31/27(1)
75,000 71,077 
Prime Security Services Borrower LLC / Prime Finance, Inc., 6.25%, 1/15/28(1)
25,000 25,437 
447,723 
Communications Equipment — 0.3%
CommScope, Inc., 6.00%, 3/1/26(1)
50,000 51,219 
Construction Materials — 0.3%
SRM Escrow Issuer LLC, 6.00%, 11/1/28(1)
50,000 51,812 
Consumer Finance — 1.9%
FirstCash, Inc., 4.625%, 9/1/28(1)
25,000 24,916 
Global Aircraft Leasing Co. Ltd., 6.50% Cash or 7.25% PIK, 9/15/24(1)(2)
75,000 72,860 
Navient Corp., 7.25%, 9/25/2375,000 80,772 
Navient Corp., 5.875%, 10/25/2425,000 26,183 
Navient Corp., 6.75%, 6/25/2525,000 26,995 
OneMain Finance Corp., 6.125%, 3/15/2450,000 52,562 
OneMain Finance Corp., 6.875%, 3/15/2575,000 82,610 
366,898 
Containers and Packaging — 2.2%
Berry Global, Inc., 4.50%, 2/15/26(1)
50,000 50,275 
Berry Global, Inc., 4.875%, 7/15/26(1)
25,000 25,971 
Mauser Packaging Solutions Holding Co., 5.50%, 4/15/24(1)
100,000 100,242 
Mauser Packaging Solutions Holding Co., 7.25%, 4/15/25(1)
50,000 49,155 
OI European Group BV, 4.75%, 2/15/30(1)
25,000 25,009 
Owens-Brockway Glass Container, Inc., 5.875%, 8/15/23(1)
100,000 104,188 
Sealed Air Corp., 5.125%, 12/1/24(1)
50,000 53,344 
TriMas Corp., 4.125%, 4/15/29(1)
25,000 25,053 
433,237 
Distributors — 0.1%
BCPE Empire Holdings, Inc., 7.625%, 5/1/27(1)
25,000 25,037 
Diversified Consumer Services — 0.4%
Adtalem Global Education, Inc., 5.50%, 3/1/28(1)
50,000 48,261 
Service Corp. International/US, 3.375%, 8/15/3025,000 23,924 
72,185 
Diversified Financial Services — 0.7%
Jefferson Capital Holdings LLC, 6.00%, 8/15/26(1)
50,000 49,852 
MPH Acquisition Holdings LLC, 5.50%, 9/1/28(1)
75,000 72,792 
Paysafe Finance plc / Paysafe Holdings US Corp., 4.00%, 6/15/29(1)
25,000 23,120 
145,764 


Diversified Telecommunication Services — 3.6%
Altice France SA, 5.125%, 1/15/29(1)
200,000 189,905 
Embarq Corp., 8.00%, 6/1/3650,000 54,905 
Hughes Satellite Systems Corp., 6.625%, 8/1/2675,000 83,412 
Level 3 Financing, Inc., 4.25%, 7/1/28(1)
25,000 24,420 
Lumen Technologies, Inc., 7.50%, 4/1/2425,000 27,159 
Lumen Technologies, Inc., 5.125%, 12/15/26(1)
100,000 100,337 
Lumen Technologies, Inc., 4.50%, 1/15/29(1)
25,000 23,549 
Sprint Capital Corp., 8.75%, 3/15/3250,000 73,991 
Telecom Italia Capital SA, 6.00%, 9/30/3425,000 25,237 
Telesat Canada / Telesat LLC, 6.50%, 10/15/27(1)
75,000 58,639 
Zayo Group Holdings, Inc., 4.00%, 3/1/27(1)
50,000 47,720 
709,274 
Electric Utilities — 2.0%
FirstEnergy Corp., 4.40%, 7/15/2725,000 26,752 
FirstEnergy Corp., 5.35%, 7/15/4725,000 29,704 
NextEra Energy Operating Partners LP, 3.875%, 10/15/26(1)
50,000 52,220 
NRG Energy, Inc., 3.625%, 2/15/31(1)
75,000 71,364 
PG&E Corp., 5.00%, 7/1/2825,000 25,787 
PG&E Corp., 5.25%, 7/1/3025,000 25,667 
Talen Energy Supply LLC, 7.25%, 5/15/27(1)
25,000 23,256 
Talen Energy Supply LLC, 6.625%, 1/15/28(1)
25,000 22,871 
Vistra Operations Co. LLC, 5.625%, 2/15/27(1)
50,000 51,420 
Vistra Operations Co. LLC, 5.00%, 7/31/27(1)
50,000 50,606 
Vistra Operations Co. LLC, 4.375%, 5/1/29(1)
25,000 24,577 
404,224 
Electrical Equipment — 0.8%
Atkore, Inc., 4.25%, 6/1/31(1)
100,000 100,429 
WESCO Distribution, Inc., 7.125%, 6/15/25(1)
25,000 26,438 
WESCO Distribution, Inc., 7.25%, 6/15/28(1)
25,000 27,226 
154,093 
Electronic Equipment, Instruments and Components — 0.4%
Imola Merger Corp., 4.75%, 5/15/29(1)
75,000 75,577 
Energy Equipment and Services — 1.5%
Archrock Partners LP / Archrock Partners Finance Corp., 6.875%, 4/1/27(1)
25,000 26,051 
Archrock Partners LP / Archrock Partners Finance Corp., 6.25%, 4/1/28(1)
50,000 51,361 
Bristow Group, Inc., 6.875%, 3/1/28(1)
50,000 50,500 
Exterran Energy Solutions LP / EES Finance Corp., 8.125%, 5/1/2575,000 69,735 
Precision Drilling Corp., 6.875%, 1/15/29(1)
25,000 24,376 
Transocean Guardian Ltd., 5.875%, 1/15/24(1)
50,250 47,346 
Transocean Poseidon Ltd., 6.875%, 2/1/27(1)
25,000 23,804 
293,173 
Entertainment — 0.9%
Cinemark USA, Inc., 5.875%, 3/15/26(1)
25,000 24,756 
Cinemark USA, Inc., 5.25%, 7/15/28(1)
25,000 23,729 
Live Nation Entertainment, Inc., 4.75%, 10/15/27(1)
50,000 50,057 
Playtika Holding Corp., 4.25%, 3/15/29(1)
25,000 23,760 
WMG Acquisition Corp., 3.875%, 7/15/30(1)
25,000 25,095 
WMG Acquisition Corp., 3.00%, 2/15/31(1)
25,000 23,584 
170,981 
Equity Real Estate Investment Trusts (REITs) — 4.0%
Brookfield Property REIT, Inc. / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL, 4.50%, 4/1/27(1)
25,000 23,793 
CTR Partnership LP / CareTrust Capital Corp., 3.875%, 6/30/28(1)
25,000 24,546 
Diversified Healthcare Trust, 9.75%, 6/15/25100,000 108,220 


Diversified Healthcare Trust, 4.375%, 3/1/3125,000 23,440 
Iron Mountain, Inc., 5.25%, 3/15/28(1)
75,000 77,238 
Iron Mountain, Inc., 4.875%, 9/15/29(1)
50,000 50,797 
Iron Mountain, Inc., 4.50%, 2/15/31(1)
25,000 24,587 
MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer, Inc., 4.625%, 6/15/25(1)
25,000 26,657 
MPT Operating Partnership LP / MPT Finance Corp., 4.625%, 8/1/2950,000 52,272 
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 7.50%, 6/1/25(1)
50,000 52,596 
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer, 5.875%, 10/1/28(1)
25,000 25,805 
RLJ Lodging Trust LP, 3.75%, 7/1/26(1)
25,000 24,738 
RLJ Lodging Trust LP, 4.00%, 9/15/29(1)
25,000 24,416 
SBA Communications Corp., 3.875%, 2/15/2750,000 51,234 
Service Properties Trust, 4.35%, 10/1/2450,000 48,870 
Service Properties Trust, 5.25%, 2/15/2625,000 24,620 
Service Properties Trust, 4.95%, 2/15/2750,000 47,812 
Service Properties Trust, 4.95%, 10/1/2925,000 23,405 
Service Properties Trust, 4.375%, 2/15/3025,000 22,562 
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 4.75%, 4/15/28(1)
25,000 24,435 
782,043 
Food and Staples Retailing — 0.4%
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 4.625%, 1/15/27(1)
25,000 25,949 
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 5.875%, 2/15/28(1)
25,000 26,355 
Albertsons Cos., Inc. / Safeway, Inc. / New Albertsons LP / Albertsons LLC, 3.50%, 3/15/29(1)
25,000 24,815 
77,119 
Food Products — 2.7%
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 6.50%, 4/15/29(1)
50,000 54,860 
JBS USA LUX SA / JBS USA Food Co. / JBS USA Finance, Inc., 5.50%, 1/15/30(1)
50,000 53,724 
Kraft Heinz Foods Co., 6.50%, 2/9/4050,000 71,333 
Kraft Heinz Foods Co., 4.375%, 6/1/4675,000 86,913 
Kraft Heinz Foods Co., 4.875%, 10/1/4950,000 62,424 
Pilgrim's Pride Corp., 5.875%, 9/30/27(1)
100,000 105,131 
Post Holdings, Inc., 5.75%, 3/1/27(1)
100,000 103,137 
537,522 
Health Care Equipment and Supplies — 0.6%
Mozart Debt Merger Sub, Inc., 3.875%, 4/1/29(1)
50,000 49,451 
Mozart Debt Merger Sub, Inc., 5.25%, 10/1/29(1)
75,000 75,033 
124,484 
Health Care Providers and Services — 4.3%
Catalent Pharma Solutions, Inc., 3.50%, 4/1/30(1)
50,000 48,572 
Centene Corp., 4.25%, 12/15/2725,000 25,968 
Centene Corp., 4.625%, 12/15/2925,000 26,787 
Centene Corp., 3.00%, 10/15/3025,000 24,992 
CHS / Community Health Systems, Inc., 8.00%, 3/15/26(1)
50,000 52,315 
CHS / Community Health Systems, Inc., 5.625%, 3/15/27(1)
25,000 25,682 
CHS / Community Health Systems, Inc., 8.00%, 12/15/27(1)
25,000 26,792 
CHS / Community Health Systems, Inc., 4.75%, 2/15/31(1)
25,000 24,664 
DaVita, Inc., 4.625%, 6/1/30(1)
75,000 74,190 
DaVita, Inc., 3.75%, 2/15/31(1)
75,000 69,675 
HCA, Inc., 5.375%, 2/1/2550,000 54,600 
HCA, Inc., 5.875%, 2/15/2625,000 28,054 
HCA, Inc., 5.375%, 9/1/2650,000 55,859 
HCA, Inc., 5.625%, 9/1/2875,000 86,774 
Legacy LifePoint Health LLC, 6.75%, 4/15/25(1)
25,000 26,021 
Owens & Minor, Inc., 4.50%, 3/31/29(1)
25,000 25,367 
Tenet Healthcare Corp., 4.875%, 1/1/26(1)
75,000 76,774 
Tenet Healthcare Corp., 6.25%, 2/1/27(1)
50,000 51,870 


Tenet Healthcare Corp., 5.125%, 11/1/27(1)
25,000 25,710 
Tenet Healthcare Corp., 4.25%, 6/1/29(1)
25,000 24,792 
855,458 
Hotels, Restaurants and Leisure — 7.0%
1011778 BC ULC / New Red Finance, Inc., 4.375%, 1/15/28(1)
25,000 24,928 
1011778 BC ULC / New Red Finance, Inc., 4.00%, 10/15/30(1)
50,000 47,857 
Affinity Gaming, 6.875%, 12/15/27(1)
100,000 102,724 
Aramark Services, Inc., 6.375%, 5/1/25(1)
50,000 52,205 
Caesars Entertainment, Inc., 6.25%, 7/1/25(1)
25,000 26,022 
Carnival Corp., 10.50%, 2/1/26(1)
50,000 57,070 
Carnival Corp., 7.625%, 3/1/26(1)
50,000 51,375 
Carnival Corp., 5.75%, 3/1/27(1)
100,000 97,952 
Carnival Corp., 9.875%, 8/1/27(1)
25,000 28,188 
GPS Hospitality Holding Co. LLC / GPS Finco, Inc., 7.00%, 8/15/28(1)
75,000 68,048 
Hilton Domestic Operating Co., Inc., 3.625%, 2/15/32(1)
25,000 24,307 
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 5.00%, 6/1/29(1)
50,000 49,734 
Hilton Grand Vacations Borrower Escrow LLC / Hilton Grand Vacations Borrower Esc, 4.875%, 7/1/31(1)
25,000 24,788 
Life Time, Inc., 8.00%, 4/15/26(1)
75,000 77,047 
MGM Resorts International, 6.75%, 5/1/2550,000 52,176 
MGM Resorts International, 4.75%, 10/15/2875,000 76,663 
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp., 4.875%, 5/1/29(1)
25,000 24,818 
Mohegan Gaming & Entertainment, 8.00%, 2/1/26(1)
50,000 50,760 
NCL Corp. Ltd., 3.625%, 12/15/24(1)
75,000 69,014 
NCL Corp. Ltd., 5.875%, 3/15/26(1)
25,000 24,406 
NCL Finance Ltd., 6.125%, 3/15/28(1)
25,000 24,428 
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.625%, 9/1/29(1)
25,000 25,037 
Premier Entertainment Sub LLC / Premier Entertainment Finance Corp., 5.875%, 9/1/31(1)
25,000 25,131 
Royal Caribbean Cruises Ltd., 5.25%, 11/15/2225,000 25,265 
Royal Caribbean Cruises Ltd., 7.50%, 10/15/2750,000 57,518 
Royal Caribbean Cruises Ltd., 3.70%, 3/15/2825,000 22,866 
Royal Caribbean Cruises Ltd., 5.50%, 4/1/28(1)
50,000 48,739 
Travel + Leisure Co., 6.625%, 7/31/26(1)
25,000 27,100 
Viking Ocean Cruises Ship VII Ltd., 5.625%, 2/15/29(1)
50,000 48,215 
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, 3/1/25(1)
50,000 50,161 
1,384,542 
Household Durables — 2.5%
Ashton Woods USA LLC / Ashton Woods Finance Co., 4.625%, 4/1/30(1)
25,000 24,503 
Beazer Homes USA, Inc., 5.875%, 10/15/2775,000 78,517 
Brookfield Residential Properties, Inc. / Brookfield Residential US LLC, 5.00%, 6/15/29(1)
50,000 49,797 
Century Communities, Inc., 6.75%, 6/1/2750,000 52,547 
KB Home, 4.00%, 6/15/3125,000 25,286 
Mattamy Group Corp., 4.625%, 3/1/30(1)
75,000 74,482 
Newell Brands, Inc., 4.70%, 4/1/2650,000 53,625 
Taylor Morrison Communities, Inc., 5.125%, 8/1/30(1)
25,000 26,861 
Tempur Sealy International, Inc., 4.00%, 4/15/29(1)
25,000 24,862 
Tempur Sealy International, Inc., 3.875%, 10/15/31(1)
25,000 24,193 
Tri Pointe Homes, Inc., 5.25%, 6/1/2750,000 53,604 
488,277 
Independent Power and Renewable Electricity Producers — 1.2%
Calpine Corp., 5.25%, 6/1/26(1)
25,000 25,617 
Calpine Corp., 4.50%, 2/15/28(1)
50,000 49,798 
Calpine Corp., 5.125%, 3/15/28(1)
50,000 49,622 
Clearway Energy Operating LLC, 4.75%, 3/15/28(1)
50,000 52,658 
Sunnova Energy Corp., 5.875%, 9/1/26(1)
25,000 25,363 


TerraForm Power Operating LLC, 5.00%, 1/31/28(1)
25,000 26,056 
229,114 
Insurance — 0.2%
Acrisure LLC / Acrisure Finance, Inc., 4.25%, 2/15/29(1)
50,000 46,685 
Interactive Media and Services — 0.2%
Rackspace Technology Global, Inc., 3.50%, 2/15/28(1)
25,000 23,478 
Ziff Davis, Inc., 4.625%, 10/15/30(1)
25,000 25,237 
48,715 
Internet and Direct Marketing Retail — 0.2%
Go Daddy Operating Co. LLC / GD Finance Co., Inc., 3.50%, 3/1/29(1)
25,000 23,826 
Millennium Escrow Corp., 6.625%, 8/1/26(1)
25,000 25,025 
48,851 
IT Services — 0.3%
CDW LLC / CDW Finance Corp., 4.125%, 5/1/2525,000 25,611 
Presidio Holdings, Inc., 4.875%, 2/1/27(1)
25,000 25,324 
50,935 
Leisure Products — 0.1%
MajorDrive Holdings IV LLC, 6.375%, 6/1/29(1)
25,000 23,976 
Machinery — 0.3%
Hillenbrand, Inc., 3.75%, 3/1/3125,000 24,621 
Terex Corp., 5.00%, 5/15/29(1)
25,000 25,501 
50,122 
Marine — 0.2%
Seaspan Corp., 5.50%, 8/1/29(1)
50,000 49,697 
Media — 10.5%
CCO Holdings LLC / CCO Holdings Capital Corp., 5.125%, 5/1/27(1)
50,000 51,550 
CCO Holdings LLC / CCO Holdings Capital Corp., 5.375%, 6/1/29(1)
50,000 52,977 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.75%, 3/1/30(1)
50,000 51,303 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 8/15/30(1)
50,000 50,485 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.25%, 2/1/31(1)
50,000 49,346 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 5/1/3275,000 74,799 
CCO Holdings LLC / CCO Holdings Capital Corp., 4.50%, 6/1/33(1)
50,000 49,347 
Clear Channel Outdoor Holdings, Inc., 7.75%, 4/15/28(1)
75,000 78,352 
Clear Channel Worldwide Holdings, Inc., 5.125%, 8/15/27(1)
50,000 50,601 
CSC Holdings LLC, 5.75%, 1/15/30(1)
250,000 245,222 
DISH DBS Corp., 5.00%, 3/15/2350,000 50,873 
DISH DBS Corp., 7.75%, 7/1/2650,000 51,465 
DISH DBS Corp., 5.25%, 12/1/26(1)
50,000 49,614 
DISH DBS Corp., 5.75%, 12/1/28(1)
25,000 24,680 
DISH DBS Corp., 5.125%, 6/1/2950,000 44,005 
GCI LLC, 4.75%, 10/15/28(1)
25,000 25,622 
Gray Television, Inc., 7.00%, 5/15/27(1)
75,000 79,659 
Gray Television, Inc., 4.75%, 10/15/30(1)
25,000 24,137 
iHeartCommunications, Inc., 5.25%, 8/15/27(1)
25,000 25,422 
iHeartCommunications, Inc., 4.75%, 1/15/28(1)
25,000 24,862 
Lamar Media Corp., 3.75%, 2/15/2825,000 25,054 
Lamar Media Corp., 4.875%, 1/15/2925,000 25,989 
Lamar Media Corp., 4.00%, 2/15/3025,000 25,048 
News Corp., 3.875%, 5/15/29(1)
50,000 49,235 
Nexstar Media, Inc., 5.625%, 7/15/27(1)
25,000 25,967 
Outfront Media Capital LLC / Outfront Media Capital Corp., 5.00%, 8/15/27(1)
50,000 50,495 
Quebecor Media, Inc., 5.75%, 1/15/2325,000 26,074 
Sinclair Television Group, Inc., 5.125%, 2/15/27(1)
25,000 23,208 
Sinclair Television Group, Inc., 5.50%, 3/1/30(1)
25,000 22,685 
Sinclair Television Group, Inc., 4.125%, 12/1/30(1)
25,000 22,727 


Sirius XM Radio, Inc., 3.125%, 9/1/26(1)
25,000 24,668 
Sirius XM Radio, Inc., 5.00%, 8/1/27(1)
50,000 51,555 
Sirius XM Radio, Inc., 5.50%, 7/1/29(1)
25,000 26,556 
Sirius XM Radio, Inc., 3.875%, 9/1/31(1)
25,000 23,730 
Univision Communications, Inc., 5.125%, 2/15/25(1)
50,000 50,772 
Univision Communications, Inc., 6.625%, 6/1/27(1)
25,000 26,771 
Videotron Ltd., 3.625%, 6/15/29(1)
50,000 50,146 
Virgin Media Secured Finance plc, 5.50%, 5/15/29(1)
200,000 207,698 
Ziggo BV, 5.50%, 1/15/27(1)
150,000 154,626 
2,067,325 
Metals and Mining — 2.6%
Allegheny Technologies, Inc., 4.875%, 10/1/2925,000 24,736 
Allegheny Technologies, Inc., 5.125%, 10/1/3125,000 24,724 
Arconic Corp., 6.00%, 5/15/25(1)
25,000 26,107 
Carpenter Technology Corp., 6.375%, 7/15/2825,000 26,439 
Cleveland-Cliffs, Inc., 4.625%, 3/1/29(1)
25,000 25,210 
Cleveland-Cliffs, Inc., 4.875%, 3/1/31(1)
25,000 25,234 
Coeur Mining, Inc., 5.125%, 2/15/29(1)
25,000 23,945 
Compass Minerals International, Inc., 6.75%, 12/1/27(1)
50,000 51,171 
Freeport-McMoRan, Inc., 4.125%, 3/1/2850,000 51,428 
Freeport-McMoRan, Inc., 4.25%, 3/1/3050,000 51,919 
IAMGOLD Corp., 5.75%, 10/15/28(1)
25,000 24,281 
Novelis Corp., 4.75%, 1/30/30(1)
100,000 101,109 
PT FMG Resources August 2006 Pty Ltd., 4.375%, 4/1/31(1)
25,000 25,379 
Taseko Mines Ltd., 7.00%, 2/15/26(1)
25,000 25,436 
507,118 
Mortgage Real Estate Investment Trusts (REITs) — 0.1%
Blackstone Mortgage Trust, Inc., 3.75%, 1/15/27(1)
25,000 24,661 
Multiline Retail — 0.1%
Macy's Retail Holdings LLC, 5.875%, 4/1/29(1)
25,000 26,688 
Oil, Gas and Consumable Fuels — 14.9%
Aethon United BR LP / Aethon United Finance Corp., 8.25%, 2/15/26(1)
25,000 26,495 
Antero Midstream Partners LP / Antero Midstream Finance Corp., 7.875%, 5/15/26(1)
25,000 26,826 
Apache Corp., 4.875%, 11/15/2725,000 26,674 
Apache Corp., 4.25%, 1/15/3025,000 26,170 
Apache Corp., 5.10%, 9/1/4050,000 54,323 
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 7.00%, 11/1/26(1)
50,000 50,824 
Ascent Resources Utica Holdings LLC / ARU Finance Corp., 5.875%, 6/30/29(1)
25,000 24,666 
Callon Petroleum Co., 8.00%, 8/1/28(1)
50,000 49,038 
Cheniere Energy Partners LP, 4.50%, 10/1/2950,000 52,641 
Cheniere Energy Partners LP, 4.00%, 3/1/31(1)
50,000 51,097 
Cheniere Energy, Inc., 4.625%, 10/15/2825,000 25,781 
CITGO Petroleum Corp., 7.00%, 6/15/25(1)
25,000 25,303 
CITGO Petroleum Corp., 6.375%, 6/15/26(1)
25,000 25,058 
CNX Resources Corp., 7.25%, 3/14/27(1)
50,000 52,891 
Comstock Resources, Inc., 6.75%, 3/1/29(1)
25,000 26,052 
Comstock Resources, Inc., 5.875%, 1/15/30(1)
25,000 25,082 
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 5.75%, 4/1/2525,000 25,125 
Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp., 6.00%, 2/1/29(1)
25,000 25,339 
CrownRock LP / CrownRock Finance, Inc., 5.625%, 10/15/25(1)
50,000 50,295 
DCP Midstream Operating LP, 5.375%, 7/15/25100,000 106,813 
EnLink Midstream Partners LP, 4.85%, 7/15/2650,000 51,389 
EnLink Midstream Partners LP, 5.60%, 4/1/4450,000 47,384 
EnLink Midstream Partners LP, 5.45%, 6/1/4750,000 48,616 
EQM Midstream Partners LP, 6.00%, 7/1/25(1)
25,000 26,623 


EQM Midstream Partners LP, 6.50%, 7/1/27(1)
25,000 27,058 
EQM Midstream Partners LP, 4.50%, 1/15/29(1)
25,000 24,861 
EQM Midstream Partners LP, 4.75%, 1/15/31(1)
25,000 25,302 
EQT Corp., 3.90%, 10/1/2750,000 52,188 
EQT Corp., 7.50%, 2/1/3025,000 31,588 
Genesis Energy LP / Genesis Energy Finance Corp., 8.00%, 1/15/2750,000 49,690 
Genesis Energy LP / Genesis Energy Finance Corp., 7.75%, 2/1/2825,000 24,501 
Harvest Midstream I LP, 7.50%, 9/1/28(1)
50,000 51,891 
Hess Midstream Operations LP, 5.625%, 2/15/26(1)
50,000 51,202 
Hess Midstream Operations LP, 5.125%, 6/15/28(1)
25,000 25,606 
Hilcorp Energy I LP / Hilcorp Finance Co., 6.25%, 11/1/28(1)
25,000 25,431 
ITT Holdings LLC, 6.50%, 8/1/29(1)
25,000 24,259 
Laredo Petroleum, Inc., 9.50%, 1/15/2550,000 49,853 
Matador Resources Co., 5.875%, 9/15/2650,000 50,777 
MEG Energy Corp., 7.125%, 2/1/27(1)
25,000 25,603 
MEG Energy Corp., 5.875%, 2/1/29(1)
50,000 49,691 
Murphy Oil Corp., 5.75%, 8/15/25100,000 101,844 
Murphy Oil Corp., 6.375%, 7/15/2825,000 25,827 
NGL Energy Operating LLC / NGL Energy Finance Corp., 7.50%, 2/1/26(1)
50,000 49,750 
Northern Oil and Gas, Inc., 8.125%, 3/1/28(1)
25,000 25,952 
Occidental Petroleum Corp., 5.875%, 9/1/2525,000 26,917 
Occidental Petroleum Corp., 5.50%, 12/1/2525,000 26,787 
Occidental Petroleum Corp., 3.40%, 4/15/2625,000 24,813 
Occidental Petroleum Corp., 8.50%, 7/15/2750,000 60,784 
Occidental Petroleum Corp., 6.375%, 9/1/2825,000 28,545 
Occidental Petroleum Corp., 8.875%, 7/15/3050,000 65,734 
Occidental Petroleum Corp., 6.625%, 9/1/3025,000 30,031 
Occidental Petroleum Corp., 6.125%, 1/1/3125,000 29,171 
Occidental Petroleum Corp., 7.50%, 5/1/3125,000 31,565 
Occidental Petroleum Corp., 4.40%, 4/15/4625,000 24,627 
Occidental Petroleum Corp., 4.10%, 2/15/4750,000 47,754 
Parkland Corp., 5.875%, 7/15/27(1)
25,000 26,220 
PBF Holding Co. LLC / PBF Finance Corp., 9.25%, 5/15/25(1)
25,000 23,375 
PBF Holding Co. LLC / PBF Finance Corp., 6.00%, 2/15/2825,000 14,972 
PBF Logistics LP / PBF Logistics Finance Corp., 6.875%, 5/15/2350,000 47,111 
Range Resources Corp., 9.25%, 2/1/2625,000 26,891 
Range Resources Corp., 8.25%, 1/15/29(1)
25,000 27,588 
Rockcliff Energy II LLC, 5.50%, 10/15/29(1)
25,000 25,273 
SM Energy Co., 6.75%, 9/15/2650,000 50,237 
Southwestern Energy Co., 5.375%, 2/1/2925,000 25,786 
Southwestern Energy Co., 5.375%, 3/15/3025,000 26,078 
Sunoco LP / Sunoco Finance Corp., 6.00%, 4/15/2725,000 25,953 
Sunoco LP / Sunoco Finance Corp., 4.50%, 4/30/30(1)
25,000 24,786 
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 12/31/30(1)
75,000 74,227 
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 6.00%, 9/1/31(1)
25,000 24,245 
Talos Production, Inc., 12.00%, 1/15/2625,000 26,182 
Tap Rock Resources LLC, 7.00%, 10/1/26(1)
25,000 25,176 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.875%, 4/15/2625,000 25,943 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 6.50%, 7/15/2725,000 26,628 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 5.00%, 1/15/2850,000 51,753 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.875%, 2/1/3125,000 26,858 
Targa Resources Partners LP / Targa Resources Partners Finance Corp., 4.00%, 1/15/32(1)
25,000 25,875 
Viper Energy Partners LP, 5.375%, 11/1/27(1)
50,000 51,608 
Western Midstream Operating LP, 4.35%, 2/1/2550,000 51,851 


Western Midstream Operating LP, 6.50%, 2/1/5050,000 57,207 
2,951,930 
Personal Products — 0.3%
Edgewell Personal Care Co., 5.50%, 6/1/28(1)
25,000 26,108 
Edgewell Personal Care Co., 4.125%, 4/1/29(1)
25,000 24,710 
50,818 
Pharmaceuticals — 2.2%
Bausch Health Americas, Inc., 8.50%, 1/31/27(1)
50,000 51,527 
Bausch Health Cos., Inc., 6.125%, 4/15/25(1)
25,000 25,283 
Bausch Health Cos., Inc., 9.00%, 12/15/25(1)
50,000 52,259 
Bausch Health Cos., Inc., 7.00%, 1/15/28(1)
100,000 96,728 
Bausch Health Cos., Inc., 5.00%, 1/30/28(1)
25,000 22,295 
Bausch Health Cos., Inc., 5.00%, 2/15/29(1)
25,000 21,484 
Bausch Health Cos., Inc., 6.25%, 2/15/29(1)
25,000 22,700 
Bausch Health Cos., Inc., 5.25%, 1/30/30(1)
25,000 21,481 
Endo Dac / Endo Finance LLC / Endo Finco, Inc., 6.00%, 6/30/28(1)
25,000 19,187 
Par Pharmaceutical, Inc., 7.50%, 4/1/27(1)
100,000 100,970 
433,914 
Professional Services — 0.3%
ASGN, Inc., 4.625%, 5/15/28(1)
50,000 51,370 
Real Estate Management and Development — 0.7%
Cushman & Wakefield US Borrower LLC, 6.75%, 5/15/28(1)
75,000 80,365 
Howard Hughes Corp. (The), 5.375%, 8/1/28(1)
25,000 26,173 
Realogy Group LLC / Realogy Co-Issuer Corp., 5.75%, 1/15/29(1)
25,000 25,324 
131,862 
Road and Rail — 1.0%
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 5.75%, 7/15/27(1)
75,000 77,887 
Avis Budget Car Rental LLC / Avis Budget Finance, Inc., 4.75%, 4/1/28(1)
25,000 25,453 
Uber Technologies, Inc., 4.50%, 8/15/29(1)
25,000 24,797 
United Rentals North America, Inc., 3.875%, 2/15/3125,000 25,117 
XPO Logistics, Inc., 6.25%, 5/1/25(1)
50,000 52,056 
205,310 
Semiconductors and Semiconductor Equipment — 0.3%
ON Semiconductor Corp., 3.875%, 9/1/28(1)
25,000 25,467 
Synaptics, Inc., 4.00%, 6/15/29(1)
25,000 25,286 
50,753 
Software — 2.5%
Camelot Finance SA, 4.50%, 11/1/26(1)
25,000 25,962 
Castle US Holding Corp., 9.50%, 2/15/28(1)
25,000 26,318 
Consensus Cloud Solutions, Inc., 6.00%, 10/15/26(1)
25,000 25,185 
Consensus Cloud Solutions, Inc., 6.50%, 10/15/28(1)
25,000 25,422 
LogMeIn, Inc., 5.50%, 9/1/27(1)
25,000 24,912 
NCR Corp., 5.75%, 9/1/27(1)
25,000 25,954 
NCR Corp., 5.125%, 4/15/29(1)
50,000 50,625 
NCR Corp., 6.125%, 9/1/29(1)
25,000 26,549 
NCR Corp., 5.25%, 10/1/30(1)
25,000 25,396 
Open Text Corp., 3.875%, 12/1/29(1)
50,000 49,785 
Open Text Holdings, Inc., 4.125%, 2/15/30(1)
25,000 24,912 
Open Text Holdings, Inc., 4.125%, 12/1/31(1)
25,000 24,855 
SS&C Technologies, Inc., 5.50%, 9/30/27(1)
50,000 52,034 
Veritas US, Inc. / Veritas Bermuda Ltd., 7.50%, 9/1/25(1)
75,000 77,352 
485,261 
Specialty Retail — 1.9%
Bath & Body Works, Inc., 6.625%, 10/1/30(1)
25,000 27,773 


Bath & Body Works, Inc., 6.75%, 7/1/3650,000 59,853 
Ferrellgas LP / Ferrellgas Finance Corp., 5.375%, 4/1/26(1)
25,000 23,713 
Ferrellgas LP / Ferrellgas Finance Corp., 5.875%, 4/1/29(1)
50,000 46,441 
LSF9 Atlantis Holdings LLC / Victra Finance Corp., 7.75%, 2/15/26(1)
50,000 50,321 
Michaels Cos., Inc. (The), 7.875%, 5/1/29(1)
25,000 24,867 
Rent-A-Center, Inc., 6.375%, 2/15/29(1)
25,000 25,682 
Sonic Automotive, Inc., 4.875%, 11/15/31(1)
25,000 24,537 
Staples, Inc., 7.50%, 4/15/26(1)
50,000 49,719 
Staples, Inc., 10.75%, 4/15/27(1)
25,000 22,811 
Superior Plus LP / Superior General Partner, Inc., 4.50%, 3/15/29(1)
25,000 25,522 
381,239 
Technology Hardware, Storage and Peripherals — 0.3%
Xerox Holdings Corp., 5.00%, 8/15/25(1)
25,000 25,748 
Xerox Holdings Corp., 5.50%, 8/15/28(1)
25,000 25,139 
50,887 
Thrifts and Mortgage Finance — 1.4%
Freedom Mortgage Corp., 8.125%, 11/15/24(1)
25,000 24,882 
Freedom Mortgage Corp., 7.625%, 5/1/26(1)
50,000 48,382 
Freedom Mortgage Corp., 6.625%, 1/15/27(1)
25,000 23,551 
MGIC Investment Corp., 5.25%, 8/15/2850,000 51,710 
Nationstar Mortgage Holdings, Inc., 5.50%, 8/15/28(1)
25,000 24,946 
NMI Holdings, Inc., 7.375%, 6/1/25(1)
25,000 28,374 
PennyMac Financial Services, Inc., 4.25%, 2/15/29(1)
25,000 23,040 
Radian Group, Inc., 4.875%, 3/15/2725,000 26,360 
United Wholesale Mortgage LLC, 5.50%, 4/15/29(1)
25,000 23,854 
275,099 
Tobacco — 0.2%
Vector Group Ltd., 5.75%, 2/1/29(1)
50,000 47,666 
Trading Companies and Distributors — 0.4%
Fortress Transportation and Infrastructure Investors LLC, 6.50%, 10/1/25(1)
25,000 25,531 
Fortress Transportation and Infrastructure Investors LLC, 5.50%, 5/1/28(1)
25,000 24,555 
H&E Equipment Services, Inc., 3.875%, 12/15/28(1)
25,000 24,330 
74,416 
Wireless Telecommunication Services — 1.1%
Sprint Corp., 7.875%, 9/15/2350,000 55,002 
Sprint Corp., 7.125%, 6/15/2450,000 56,104 
T-Mobile USA, Inc., 2.25%, 2/15/2625,000 24,731 
T-Mobile USA, Inc., 3.375%, 4/15/29(1)
25,000 25,193 
Vodafone Group plc, VRN, 7.00%, 4/4/7950,000 60,221 
221,251 
TOTAL CORPORATE BONDS
(Cost $18,996,300)
18,713,106 
PREFERRED STOCKS — 0.6%


Banks — 0.6%
Bank of America Corp., 6.25%50,000 53,031 
Citigroup, Inc., 4.70%50,000 50,435 
JPMorgan Chase & Co., 6.125%25,000 26,438 
TOTAL PREFERRED STOCKS
(Cost $131,602)
129,904 
TEMPORARY CASH INVESTMENTS — 2.8%


State Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost $553,453)
553,453 553,453 
TOTAL INVESTMENT SECURITIES — 98.2%
(Cost $19,681,355)

19,396,463 
OTHER ASSETS AND LIABILITIES — 1.8%

348,026 
TOTAL NET ASSETS — 100.0%

$19,744,489 


NOTES TO SCHEDULE OF INVESTMENTS
PIK-Payment in Kind. Security may pay a cash rate and/or an in kind rate.
VRN-Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown.
(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $12,775,517, which represented 64.7% of total net assets.
(2)The security's rate was paid in kind or a combination of cash and in kind at the last payment date.


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 Board of Trustees 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.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Corporate bonds are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

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.

Hybrid securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Preferred stocks and convertible preferred stocks with perpetual maturities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share.

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 Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. 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 NAV 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 Trustees, 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
Corporate Bonds— 18,713,106 — 
Preferred Stocks— 129,904 — 
Temporary Cash Investments553,453 — — 
553,453 18,843,010 — 
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.