American Century Investments®
Quarterly Portfolio Holdings
Avantis® Moderate Allocation ETF (AVMA)
May 31, 2026


Avantis Moderate Allocation ETF - Schedule of Investments
MAY 31, 2026 (UNAUDITED)
 
Shares
Value ($)
UNDERLYING FUNDS(1) — 99.9%
Domestic Equity Funds — 46.1%
Avantis Real Estate ETF
23,414 
1,111,463 
Avantis U.S. Equity ETF
151,752 
19,346,862 
Avantis U.S. Large Cap Value ETF
75,995 
6,860,829 
Avantis U.S. Mid Cap Equity ETF
7,935 
623,850 
Avantis U.S. Mid Cap Value ETF
7,734 
612,842 
Avantis U.S. Small Cap Equity ETF
23,391 
1,610,938 
Avantis U.S. Small Cap Value ETF
13,131 
1,576,376 
 
 
31,743,160 
Domestic Fixed Income Funds — 26.6%
 
 
Avantis Core Fixed Income ETF
299,326 
12,416,043 
Avantis Short-Term Fixed Income ETF
125,980 
5,882,006 
 
 
18,298,049 
International Equity Funds — 19.1%
 
 
Avantis Emerging Markets Equity ETF
33,137 
3,212,301 
Avantis Emerging Markets Small Cap Equity ETF
5,857 
418,073 
Avantis Emerging Markets Value ETF
21,684 
1,468,224 
Avantis International Equity ETF
50,194 
4,600,280 
Avantis International Large Cap Value ETF
30,715 
2,452,285 
Avantis International Small Cap Equity ETF
5,665 
450,651 
Avantis International Small Cap Value ETF
4,907 
540,849 
 
 
13,142,663 
International Fixed Income Funds — 8.1%
 
 
Avantis Credit ETF(2)
109,069 
5,595,240 
TOTAL UNDERLYING FUNDS
(Cost $59,418,461)
 
68,779,112 
SHORT-TERM INVESTMENTS — 0.1%
 
 
Money Market Funds — 0.1%
 
 
State Street Institutional U.S. Government Money Market Fund, Premier Class
50,286 
50,286 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
21,000 
21,000 
TOTAL SHORT-TERM INVESTMENTS
(Cost $71,286)
 
71,286 
TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $59,489,747)
 
68,850,398 
OTHER ASSETS AND LIABILITIES — 0.0%
 
(16,329)
TOTAL NET ASSETS — 100.0%
 
$
68,834,069 

NOTES TO SCHEDULE OF INVESTMENTS
(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.
(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $20,520. 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 $21,000.


SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 

1. Underlying Funds

The fund invests in a combination of Avantis exchange-traded funds (the underlying funds). The underlying funds represent a broadly diversified basket of equity and fixed income securities. The portfolio holdings of each underlying fund are available at avantisinvestors.com or upon request at 1-800-345-2021.

2. 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 Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Open-end management investment companies are valued at the reported NAV per share. Exchange-traded funds are listed or traded on a domestic securities exchange and are valued at the last reported sales price or at the official closing price as provided by the exchange.

3. 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.

As of period end, the fund's investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.




4. Affiliated Fund Transactions

A summary of transactions for each underlying fund for the period ended May 31, 2026 follows (amounts in thousands):
Fund/Underlying Fund
Beginning
Value
Purchase
Cost
Sales
Cost
Change in Net
Unrealized
Appreciation
(Depreciation)
Ending
Value
Ending
Shares
Net
Realized
Gain
(Loss)
Distributions
Received(1)
Avantis Real Estate ETF
$
750 
$
435 
$
124 
$
50 
$
1,111
23 
$
13 
$
24 
Avantis U.S. Equity ETF
11,994 
6,278 
1,431 
2,506 
19,347
152 
600 
114 
Avantis U.S. Large Cap Value ETF
4,051 
2,187 
545 
1,168 
6,861
76 
197 
47 
Avantis U.S. Mid Cap Equity ETF
408 
214 
54 
56 
624
8 
15 
4 
Avantis U.S. Mid Cap Value ETF
411 
213 
73 
62 
613
8 
15 
4 
Avantis U.S. Small Cap Equity ETF
1,001 
510 
128 
228 
1,611
23 
40 
9 
Avantis U.S. Small Cap Value ETF
983 
505 
134 
222 
1,576
13 
37 
13 
Avantis Core Fixed Income ETF
8,535 
5,375 
1,339 
(155)
12,416
299 
26 
349 
Avantis Short-Term Fixed Income ETF
4,134 
2,464 
640 
(76)
5,882
126 
9 
170 
Avantis Emerging Markets Equity ETF
1,793 
935 
218 
702 
3,212
33 
110 
36 
Avantis Emerging Markets Small Cap Equity ETF
270 
142 
33 
40 
419
6 
9 
6 
Avantis Emerging Markets Value ETF
932 
479 
153 
210 
1,468
22 
41 
24 
Avantis International Equity ETF
3,050 
1,565 
583 
568 
4,600
50 
143 
50 
Avantis International Large Cap Value ETF
1,570 
781 
222 
323 
2,452
31 
83 
32 
Avantis International Small Cap Equity ETF
275 
154 
38 
60 
451
6 
14 
5 
Avantis International Small Cap Value ETF
354 
152 
62 
97 
541
5 
23 
7 
Avantis Credit ETF(2)
— 
5,939 
396 
52 
5,595
109 
1 
— 
$
40,511 
$
28,328 
$
6,173 
$
6,113 
$
68,779
990 
$
1,376 
$
894 
(1)Distributions received includes distributions from net investment income and from capital gains, if any.
(2)Security, or a portion thereof, is on loan.
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 financial statements.