American Century Investments®
Quarterly Portfolio Holdings
Avantis® U.S. Small Cap Value ETF (AVUV)
May 31, 2026


Avantis U.S. Small Cap Value ETF - Schedule of Investments
MAY 31, 2026 (UNAUDITED)
 Shares
Value ($)
COMMON STOCKS — 99.8%
  
Aerospace and Defense — 0.2%
  
AerSale Corp.(1)
819,165 5,398,297 
Astronics Corp.(1)
447,305 38,915,535 
Ducommun, Inc.(1)
86,873 13,223,808 
Innovative Solutions & Support, Inc.(1)
130,790 2,254,820 
SIFCO Industries, Inc.(1)
66,086 1,339,563 
  61,132,023 
Air Freight and Logistics — 0.0%
  
Hub Group, Inc., Class A
200,419 8,325,405 
Radiant Logistics, Inc.(1)
39,284 333,521 
  8,658,926 
Automobile Components — 3.7%
  
Dana, Inc.
5,098,316 180,531,370 
Dauch Corp.(1)
1,916,757 12,727,266 
Fox Factory Holding Corp.(1)
13,594 245,236 
Gentex Corp.
5,083,771 122,823,907 
Gentherm, Inc.(1)
685,212 23,770,004 
Goodyear Tire & Rubber Co.(1)
12,616,349 76,959,729 
LCI Industries
634,677 69,192,487 
Lear Corp.
1,692,825 242,277,114 
Motorcar Parts of America, Inc.(1)
597,366 6,606,868 
Phinia, Inc.
1,495,180 115,517,607 
Standard Motor Products, Inc.
199,479 7,817,582 
Stoneridge, Inc.(1)
844,789 6,310,574 
Strattec Security Corp.(1)
129,758 10,375,450 
Visteon Corp.
994,343 117,620,833 
  992,776,027 
Automobiles — 0.6%
  
Harley-Davidson, Inc.
4,451,125 107,628,203 
Thor Industries, Inc.
587,581 46,465,905 
  154,094,108 
Banks — 14.3%
  
1st Source Corp.
418,752 30,912,273 
ACNB Corp.
190,856 10,361,572 
Amalgamated Financial Corp.
603,309 25,025,257 
Amerant Bancorp, Inc.
565,049 12,837,913 
Ameris Bancorp
448,459 37,809,578 
Ames National Corp.
88,498 2,543,433 
Arrow Financial Corp.
334,915 12,291,380 
Associated Banc-Corp.
3,237,200 90,026,532 
Avidbank Holdings, Inc.(1)
25,317 779,257 
Axos Financial, Inc.(1)
1,735,319 150,816,574 
Banc of California, Inc.
3,404,975 65,443,619 
BancFirst Corp.
11,235 1,239,108 
Bancorp, Inc.(1)
1,337,992 73,803,639 
Bank of Hawaii Corp.
925,802 70,916,433 
Bank of NT Butterfield & Son Ltd.
1,402,266 79,171,938 
Bank OZK
3,073,341 148,718,971 
Bank7 Corp.
72,118 3,191,943 
BankUnited, Inc.
2,189,996 101,593,914 


Bankwell Financial Group, Inc.
117,578 6,151,681 
Banner Corp.
610,547 39,685,555 
Bar Harbor Bankshares
200,278 6,997,713 
BayCom Corp.
123,799 3,813,009 
BCB Bancorp, Inc.
132,942 1,387,914 
Beacon Financial Corp.
598,029 17,396,664 
Bridgewater Bancshares, Inc.(1)
566,888 10,691,508 
Burke & Herbert Financial Services Corp.
354,999 22,577,936 
Business First Bancshares, Inc.
818,617 23,314,212 
Byline Bancorp, Inc.
793,456 26,255,459 
C&F Financial Corp.
34,255 2,526,306 
California BanCorp
401,329 7,617,224 
Camden National Corp.
250,847 12,549,875 
Capital Bancorp, Inc.
212,665 6,788,267 
Capital City Bank Group, Inc.
376,114 17,165,843 
Capitol Federal Financial, Inc.
1,897,387 14,742,697 
Carter Bankshares, Inc.
504,599 13,775,553 
Cathay General Bancorp
1,579,386 91,067,397 
CB Financial Services, Inc.(2)
13,294 476,457 
Central BanCo, Inc., Class A
28,587 811,871 
Central Pacific Financial Corp.
801,107 27,526,037 
CF Bankshares, Inc.
59,844 1,706,751 
Chemung Financial Corp.
18,767 1,288,918 
ChoiceOne Financial Services, Inc.
97,836 3,072,050 
Citizens Financial Services, Inc.
33,903 2,204,712 
City Holding Co.
52,696 6,550,640 
Civista Bancshares, Inc.
166,044 4,300,540 
CNB Financial Corp.
605,956 18,584,671 
Colony Bankcorp, Inc.
401,320 7,946,136 
Columbia Banking System, Inc.
3,673,305 108,876,760 
Commercial Bancgroup, Inc.
87,670 2,532,786 
Community Trust Bancorp, Inc.
460,326 30,777,396 
Community West Bancshares
308,820 7,414,768 
ConnectOne Bancorp, Inc.
909,625 27,352,424 
Customers Bancorp, Inc.(1)
928,468 69,765,086 
CVB Financial Corp.
140,206 2,854,594 
Dime Community Bancshares, Inc.
753,123 28,181,863 
Eagle Bancorp Montana, Inc.
113,013 2,507,758 
Eagle Bancorp, Inc.
298,225 8,138,560 
Enterprise Financial Services Corp.
959,999 58,185,539 
Equity Bancshares, Inc., Class A
98,021 4,518,768 
Esquire Financial Holdings, Inc.
179,949 19,774,596 
Farmers & Merchants Bancorp, Inc.
115,828 3,235,076 
Farmers National Banc Corp.
36,955 524,022 
Fidelity D&D Bancorp, Inc.
711 33,211 
Financial Institutions, Inc.
183,923 6,663,530 
Finward Bancorp
4,543 149,828 
First BanCorp
4,935,601 118,355,712 
First Bancorp, Inc.
30,966 901,420 
First Bank
497,049 7,773,846 
First Busey Corp.
1,536,547 42,055,291 
First Business Financial Services, Inc.
216,522 12,454,345 
First Commonwealth Financial Corp.
1,365,425 25,861,149 
First Community Corp.
115,458 3,470,667 
First Financial Bancorp
60,236 1,852,859 


First Financial Corp.
322,965 22,342,719 
First Internet Bancorp
54,780 1,323,485 
First Merchants Corp.
133,076 5,362,963 
First Mid Bancshares, Inc.
590,764 26,023,154 
First National Corp.
72,888 2,025,922 
First United Corp.
97,066 3,837,990 
First Western Financial, Inc.(1)
3,274 95,503 
Firstsun Capital Bancorp(1)
159,012 5,636,975 
Five Star Bancorp
414,533 17,505,729 
Flushing Financial Corp.
188,815 3,015,376 
Franklin Financial Services Corp.
61,541 3,577,378 
FS Bancorp, Inc.
74,556 3,035,175 
Fulton Financial Corp.
4,840,359 104,987,387 
FVCBankcorp, Inc.
127,393 2,010,262 
Great Southern Bancorp, Inc.
270,762 19,427,173 
Hancock Whitney Corp.
1,648,941 112,325,861 
Hanmi Financial Corp.
899,078 27,080,229 
Hanover Bancorp, Inc.
8,199 190,709 
Hawthorn Bancshares, Inc.
19,986 733,286 
HBT Financial, Inc.
325,277 9,312,681 
Hilltop Holdings, Inc.
303,862 11,461,675 
Hingham Institution For Savings
21,068 6,096,869 
Home Bancorp, Inc.
174,708 11,247,701 
HomeTrust Bancshares, Inc.
450,801 20,948,722 
Hope Bancorp, Inc.
2,742,132 34,386,335 
Independent Bank Corp. (Michigan)
633,732 21,749,682 
International Bancshares Corp.
1,716,161 123,838,178 
Investar Holding Corp.
53,661 1,516,460 
Isabella Bank Corp.(2)
12,310 502,002 
Kearny Financial Corp.
230,127 1,896,246 
Lakeland Financial Corp.
140,574 8,523,002 
Live Oak Bancshares, Inc.
363,622 13,828,545 
MainStreet Bancshares, Inc.
72,318 1,655,359 
Mercantile Bank Corp.
495,027 26,231,481 
Meridian Corp.
204,582 3,678,384 
Metrocity Bankshares, Inc.
569,782 18,609,080 
Metropolitan Bank Holding Corp.
270,423 24,208,267 
Mid Penn Bancorp, Inc.
241,198 7,875,115 
Midland States Bancorp, Inc.
454,643 12,639,075 
MVB Financial Corp.
33,388 893,129 
National Bank Holdings Corp., Class A
135,868 5,683,358 
NB Bancorp, Inc.
155,149 3,107,634 
NBT Bancorp, Inc.
131,298 6,071,220 
Nicolet Bankshares, Inc.
1,240 173,935 
Northeast Bank
223,982 28,163,497 
Northfield Bancorp, Inc.
820,893 11,640,263 
Northpointe Bancshares, Inc.
465,033 7,942,764 
Northrim BanCorp, Inc.
688,383 17,009,944 
Northwest Bancshares, Inc.
692,908 9,804,648 
Norwood Financial Corp.
9,491 286,913 
Oak Valley Bancorp
61,720 2,031,205 
OceanFirst Financial Corp.
990,230 18,606,422 
OFG Bancorp
1,391,303 63,387,765 
Old Second Bancorp, Inc.
1,424,929 30,379,486 
OP Bancorp
109,740 1,542,944 


Orange County Bancorp, Inc.
231,756 7,907,515 
Origin Bancorp, Inc.
521,493 24,854,356 
Orrstown Financial Services, Inc.
468,785 17,405,987 
Parke Bancorp, Inc.
188,987 5,807,571 
Pathward Financial, Inc.
642,526 52,841,338 
PCB Bancorp
106,449 2,615,452 
Peapack-Gladstone Financial Corp.
355,785 15,387,701 
Peoples Bancorp of North Carolina, Inc.
51,623 2,173,328 
Peoples Bancorp, Inc.
892,603 31,044,732 
Peoples Financial Services Corp.
134,272 7,977,100 
Plumas Bancorp
75,306 3,963,355 
Ponce Financial Group, Inc.(1)
114,881 2,168,953 
Preferred Bank
353,376 33,860,488 
Primis Financial Corp.
9,674 139,596 
Provident Financial Services, Inc.
3,180,713 70,580,021 
QCR Holdings, Inc.
296,542 27,326,345 
RBB Bancorp
434,478 10,392,714 
Red River Bancshares, Inc.
91,013 8,274,902 
Republic Bancorp, Inc., Class A
279,276 22,607,392 
Riverview Bancorp, Inc.
97,669 547,923 
S&T Bancorp, Inc.
511,577 23,067,007 
ServisFirst Bancshares, Inc.
86,929 6,779,593 
Shore Bancshares, Inc.
866,691 17,905,836 
Sierra Bancorp
292,910 11,124,722 
SmartFinancial, Inc.
358,540 14,951,118 
South Plains Financial, Inc.
370,207 15,026,702 
Southern First Bancshares, Inc.(1)
133,345 7,703,341 
Southern Missouri Bancorp, Inc.
283,942 19,609,035 
Southside Bancshares, Inc.
236,997 7,764,022 
Stellar Bancorp, Inc.
201,399 7,520,239 
Stock Yards Bancorp, Inc.
51,130 3,668,066 
Texas Capital Bancshares, Inc.(1)
909,601 90,496,203 
Third Coast Bancshares, Inc.(1)
335,406 12,832,634 
Timberland Bancorp, Inc.
85,310 3,461,880 
Tompkins Financial Corp.
306,073 26,368,189 
Towne Bank
99,279 3,382,436 
TriCo Bancshares
331,776 16,854,221 
TrustCo Bank Corp.
503,086 26,064,886 
Trustmark Corp.
1,268,864 56,033,034 
UMB Financial Corp.
120,611 15,831,400 
United Community Banks, Inc.
56,744 1,869,715 
Unity Bancorp, Inc.
210,787 11,774,562 
Univest Financial Corp.
683,909 26,973,371 
USCB Financial Holdings, Inc.
94,451 1,751,122 
Valley National Bancorp
5,357,274 73,769,677 
Virginia National Bankshares Corp.
10,619 460,758 
WaFd, Inc.
1,873,644 66,626,781 
Washington Trust Bancorp, Inc.
171,437 5,583,703 
WesBanco, Inc.
70,714 2,450,240 
West BanCorp, Inc.
295,408 7,072,068 
Westamerica Bancorporation
766,181 42,515,384 
Western New England Bancorp, Inc.
3,560 47,241 
WSFS Financial Corp.
580,632 41,486,156 
Zions Bancorp NA
205,485 12,832,538 
  3,867,670,695 


Beverages — 0.2%
  
Boston Beer Co., Inc., Class A(1)
310,854 55,108,197 
MGP Ingredients, Inc.
318,789 5,626,626 
National Beverage Corp.(1)
193,400 7,153,866 
  67,888,689 
Biotechnology — 1.3%
  
Alkermes PLC(1)
3,266,861 137,828,866 
Anika Therapeutics, Inc.(1)
101,973 1,481,668 
Black Diamond Therapeutics, Inc.(1)
3,066 6,807 
Catalyst Pharmaceuticals, Inc.(1)
4,210,094 131,481,236 
Emergent BioSolutions, Inc.(1)
2,271,842 20,719,199 
Keros Therapeutics, Inc.(1)
83,474 939,082 
MiMedx Group, Inc.(1)
236,676 870,968 
Monte Rosa Therapeutics, Inc.(1)
1,674,759 33,009,500 
Puma Biotechnology, Inc.(1)
1,926,120 13,810,280 
Q32 Bio, Inc.(1)
129,926 1,435,682 
Rigel Pharmaceuticals, Inc.(1)
595,313 18,151,093 
Seres Therapeutics, Inc.(1)
36,336 265,979 
XBiotech, Inc.(1)(2)
4,871 11,788 
  360,012,148 
Broadline Retail — 1.1%
  
Kohl's Corp.
5,258,218 75,508,010 
Macy's, Inc.
9,691,667 210,890,674 
  286,398,684 
Building Products — 0.4%
  
Apogee Enterprises, Inc.
826,681 31,752,817 
Insteel Industries, Inc.
92,897 2,553,739 
Quanex Building Products Corp.
1,055,782 19,648,103 
Tecnoglass, Inc.
736,510 31,736,216 
Trex Co., Inc.(1)
840,783 34,808,416 
  120,499,291 
Capital Markets — 1.2%
  
Oppenheimer Holdings, Inc., Class A
303,375 27,810,386 
Siebert Financial Corp.(1)(2)
10,147 18,873 
StoneX Group, Inc.(1)
1,835,737 208,080,789 
Victory Capital Holdings, Inc., Class A
636,684 53,831,632 
Virtus Investment Partners, Inc.
161,419 23,087,760 
Webull Corp.(1)
876,385 5,608,864 
  318,438,304 
Chemicals — 2.9%
  
AdvanSix, Inc.
1,118,416 25,097,255 
American Vanguard Corp.(1)
341,951 882,234 
Ascent Industries Co.(1)
211,478 2,865,527 
Aspen Aerogels, Inc.(1)(2)
1,325,172 8,481,101 
Cabot Corp.
2,182,136 190,958,721 
Chemours Co.
3,460,379 76,681,999 
Core Molding Technologies, Inc.(1)
226,692 5,370,333 
Ecovyst, Inc.(1)
2,773,042 36,576,424 
FMC Corp.
2,858,725 39,050,183 
Huntsman Corp.
5,533,970 84,946,439 
Intrepid Potash, Inc.(1)
379,954 14,844,803 
Koppers Holdings, Inc.
591,952 24,151,642 
Kronos Worldwide, Inc.
45,147 324,607 
LSB Industries, Inc.(1)
2,501,766 31,372,146 
Mativ Holdings, Inc.
2,568,137 22,805,057 


NewMarket Corp.
146,720 113,499,658 
Orion SA
2,526,499 19,302,452 
Rayonier Advanced Materials, Inc.(1)
1,641,109 15,016,147 
Stepan Co.
733,377 38,758,974 
Tronox Holdings PLC, Class A
3,279,407 26,071,286 
Valhi, Inc.
7,411 106,644 
  777,163,632 
Commercial Services and Supplies — 0.6%
  
ACCO Brands Corp.
2,794,088 11,064,589 
Civeo Corp.(1)
536,675 18,327,451 
Ennis, Inc.
666,995 13,646,718 
Healthcare Services Group, Inc.(1)
2,095,930 43,176,158 
HNI Corp.
260,485 8,124,527 
Interface, Inc.
2,468,562 73,069,435 
Team, Inc.(1)
1,115 17,427 
Virco Mfg. Corp.(2)
362,328 2,184,838 
  169,611,143 
Communications Equipment — 1.6%
  
Aviat Networks, Inc.(1)
50,732 901,508 
BK Technologies Corp.(1)
74,244 6,128,842 
Harmonic, Inc.(1)
1,870,774 28,267,395 
Viasat, Inc.(1)
4,669,852 376,483,468 
Vistance Networks, Inc.(1)
1,054,430 13,159,287 
  424,940,500 
Construction and Engineering — 1.9%
  
Ameresco, Inc., Class A(1)
396,921 14,281,218 
Argan, Inc.
144,931 96,671,876 
Fluor Corp.(1)
650,481 29,766,011 
Granite Construction, Inc.
615,167 84,179,452 
Matrix Service Co.(1)
938,595 12,323,752 
MYR Group, Inc.(1)
186,372 86,674,162 
NWPX Infrastructure, Inc.(1)
261,947 30,899,268 
Orion Group Holdings, Inc.(1)
40,060 551,226 
Primoris Services Corp.
299,302 37,646,205 
Tutor Perini Corp.
1,759,929 125,817,324 
  518,810,494 
Construction Materials — 0.0%
  
Eagle Materials, Inc.
31,404 6,945,937 
Titan America SA(1)(2)
210,361 3,422,573 
U.S. Lime & Minerals, Inc.
52 5,928 
  10,374,438 
Consumer Finance — 2.3%
  
Atlanticus Holdings Corp.(1)
169,513 14,615,411 
Bread Financial Holdings, Inc.
1,450,982 129,238,967 
Consumer Portfolio Services, Inc.(1)
62,332 614,594 
Credit Acceptance Corp.(1)(2)
95,408 54,729,845 
Encore Capital Group, Inc.(1)
434,635 34,740,376 
Green Dot Corp., Class A(1)
1,915,459 24,651,957 
Jefferson Capital, Inc.
338,033 5,743,181 
LendingClub Corp.(1)
2,361,248 42,148,277 
Medallion Financial Corp.
181,711 1,768,048 
Navient Corp.
1,706,779 14,610,028 
Nelnet, Inc., Class A
333,618 43,560,502 
NerdWallet, Inc., Class A(1)
228,949 1,968,961 
OneMain Holdings, Inc.
1,173,332 64,896,993 


Oportun Financial Corp.(1)
544,588 2,951,667 
PRA Group, Inc.(1)
658,774 10,052,891 
PROG Holdings, Inc.
691,404 25,422,925 
Regional Management Corp.
238,501 8,767,297 
SLM Corp.
5,634,886 124,643,678 
World Acceptance Corp.(1)
74,057 12,226,070 
  617,351,668 
Consumer Staples Distribution & Retail — 1.8%
  
Andersons, Inc.
461,841 32,601,356 
Grocery Outlet Holding Corp.(1)
130,450 1,110,129 
HF Foods Group, Inc.(1)
38,022 74,143 
Ingles Markets, Inc., Class A
612,030 54,140,174 
Natural Grocers by Vitamin Cottage, Inc.
523,788 15,378,416 
PriceSmart, Inc.
948,707 161,270,703 
Sprouts Farmers Market, Inc.(1)
56,193 4,642,666 
United Natural Foods, Inc.(1)
3,077,109 158,009,547 
Village Super Market, Inc., Class A
419,974 19,511,992 
Weis Markets, Inc.
600,354 43,807,831 
  490,546,957 
Containers and Packaging — 0.3%
  
Graphic Packaging Holding Co.
1,460,837 16,449,025 
Greif, Inc., Class A
624,395 39,542,935 
Greif, Inc., Class B
108,737 8,731,581 
Myers Industries, Inc.
175,929 4,011,181 
Sonoco Products Co.
20,000 973,600 
TriMas Corp.
638,574 26,136,834 
  95,845,156 
Distributors — 0.2%
  
GigaCloud Technology, Inc., Class A(1)
683,049 24,617,086 
Gold.com, Inc.
674,424 28,534,880 
Weyco Group, Inc.
5,536 195,365 
  53,347,331 
Diversified Consumer Services — 0.7%
  
American Public Education, Inc.(1)
547,869 27,103,079 
Lincoln Educational Services Corp.(1)
623,908 28,899,419 
Perdoceo Education Corp.
1,810,344 58,618,939 
Phoenix Education Partners, Inc.(2)
63,676 1,925,562 
Stride, Inc.(1)
263,236 24,317,742 
Universal Technical Institute, Inc.(1)
1,018,191 38,090,525 
  178,955,266 
Diversified Telecommunication Services — 1.4%
  
ATN International, Inc.
479,710 13,508,634 
Globalstar, Inc.(1)
293,947 24,753,277 
IDT Corp., Class B
258,217 14,243,250 
Iridium Communications, Inc.
3,729,859 193,132,099 
Liberty Capital Corp., Class A(1)
125,649 2,803,229 
Liberty Capital Corp., Class C(1)
1,314,668 29,409,123 
Liberty Global Ltd., Class A(1)
4,209,132 52,656,241 
Liberty Global Ltd., Class C(1)
3,635,965 44,213,334 
Shenandoah Telecommunications Co.
1,102,564 17,585,896 
  392,305,083 
Electrical Equipment — 0.7%
  
Atkore, Inc.
1,384,959 114,688,455 
EnerSys237,127 54,057,842 
Espey Mfg. & Electronics Corp.
72,330 4,191,524 


Preformed Line Products Co.
13,171 4,870,899 
Sunrun, Inc.(1)
121,534 2,032,048 
  179,840,768 
Electronic Equipment, Instruments and Components — 3.4%
  
908 Devices, Inc.(1)(2)
87,400 735,034 
Arrow Electronics, Inc.(1)
51,220 10,993,349 
Avnet, Inc.
2,675,965 232,621,637 
Benchmark Electronics, Inc.
1,470,243 124,176,724 
Daktronics, Inc.(1)
1,463,365 30,262,388 
ePlus, Inc.
710,011 58,284,803 
Ingram Micro Holding Corp.
782,333 22,100,907 
Kimball Electronics, Inc.(1)
1,052,081 27,280,460 
Methode Electronics, Inc.
974,854 11,249,815 
M-Tron Industries, Inc.(1)
506 46,046 
PC Connection, Inc.
117,483 8,175,642 
Plexus Corp.(1)
698,672 187,495,618 
Richardson Electronics Ltd.
8,900 151,122 
Sanmina Corp.(1)
60,105 15,611,072 
ScanSource, Inc.(1)
478,078 22,120,669 
Vishay Intertechnology, Inc.
3,333,352 173,500,972 
Vishay Precision Group, Inc.(1)
40,656 5,094,603 
  929,900,861 
Energy Equipment and Services — 7.9%
  
Archrock, Inc.
4,952,426 165,856,747 
Bristow Group, Inc.
804,904 33,516,203 
Core Laboratories, Inc.
129,981 1,776,840 
DMC Global, Inc.(1)
183,851 1,252,025 
Drilling Tools International Corp.(1)
140,030 389,283 
Energy Services of America Corp.
144,893 2,163,253 
Expro Group Holdings NV(1)
2,338,261 34,536,115 
Forum Energy Technologies, Inc.(1)
362,851 18,222,377 
Helix Energy Solutions Group, Inc.(1)
4,420,851 41,334,957 
Helmerich & Payne, Inc.
3,141,759 119,858,106 
Innovex International, Inc.(1)
705,020 18,831,084 
Kodiak Gas Services, Inc.
2,277,836 152,273,337 
Liberty Energy, Inc., Class A
5,403,794 158,115,012 
Nabors Industries Ltd.(1)
488,465 45,246,513 
National Energy Services Reunited Corp.(1)
46,207 1,125,140 
Natural Gas Services Group, Inc.
322,773 12,684,979 
NCS Multistage Holdings, Inc.(1)
1,296 54,924 
Noble Corp. PLC
3,320,322 154,328,567 
NOV, Inc.
7,915,886 158,001,085 
Oceaneering International, Inc.(1)
3,200,249 122,345,519 
Oil States International, Inc.(1)
1,719,485 14,615,623 
Patterson-UTI Energy, Inc.
13,761,705 154,268,713 
ProFrac Holding Corp., Class A(1)
790,102 4,827,523 
ProPetro Holding Corp.(1)
3,232,914 49,334,268 
Ranger Energy Services, Inc.
577,733 8,931,752 
RPC, Inc.
3,460,113 22,905,948 
Seadrill Ltd.(1)
1,143,270 53,928,046 
Select Water Solutions, Inc., Class A
3,467,866 62,178,837 
Smart Sand, Inc.
326,433 1,400,398 
TETRA Technologies, Inc.(1)
3,523,768 36,048,147 
Tidewater, Inc.(1)
1,233,388 90,641,684 
Transocean Ltd.(1)
17,553,539 108,656,406 


Valaris Ltd.(1)
1,381,193 127,939,908 
Weatherford International PLC
1,480,960 153,486,694 
  2,131,076,013 
Entertainment — 0.1%
  
Cineverse Corp.(1)
2,197 5,339 
IMAX Corp.(1)
419,435 16,643,181 
Marcus Corp.
990,748 18,735,045 
Reservoir Media, Inc.(1)
50,561 521,789 
  35,905,354 
Financial Services — 3.0%
  
Acacia Research Corp.(1)
563,297 2,619,331 
Alerus Financial Corp.
202,949 5,800,282 
Cass Information Systems, Inc.
15,704 722,855 
Enact Holdings, Inc.
838,145 35,026,080 
Essent Group Ltd.
2,149,323 124,424,308 
Federal Agricultural Mortgage Corp., Class C
285,373 50,736,466 
Finance of America Cos., Inc., Class A(1)(2)
145,606 2,900,472 
International Money Express, Inc.(1)
494,929 7,409,087 
Jackson Financial, Inc., Class A
1,002,120 103,328,593 
Merchants Bancorp
674,495 31,795,694 
MGIC Investment Corp.
5,464,335 137,810,529 
NMI Holdings, Inc., Class A(1)
2,488,019 89,319,882 
Onity Group, Inc.(1)
181,052 6,253,536 
Payoneer Global, Inc.(1)
4,719,693 24,542,404 
Paysign, Inc.(1)
12,819 93,194 
PennyMac Financial Services, Inc.
376,946 31,614,461 
Radian Group, Inc.
4,260,553 145,497,885 
Velocity Financial, Inc.(1)(2)
294,545 5,154,538 
Voya Financial, Inc.
198,802 16,146,698 
Waterstone Financial, Inc.
265,213 4,909,093 
  826,105,388 
Food Products — 1.3%
  
Cal-Maine Foods, Inc.
2,026,237 151,400,429 
Dole PLC
1,404,253 19,645,499 
Fresh Del Monte Produce, Inc.
1,561,799 50,196,220 
Ingredion, Inc.
248,096 25,166,858 
J&J Snack Foods Corp.
138,125 10,514,075 
John B Sanfilippo & Son, Inc.
197,214 14,773,301 
Lamb Weston Holdings, Inc.
85,794 3,704,585 
Mission Produce, Inc.(1)(2)
1,274,158 14,194,120 
Seaboard Corp.
6,481 32,935,988 
Seneca Foods Corp., Class A(1)
226,120 32,513,795 
Village Farms International, Inc.(1)(2)
863,806 2,185,429 
  357,230,299 
Ground Transportation — 2.3%
  
ArcBest Corp.
971,548 132,800,896 
Covenant Logistics Group, Inc.
677,759 26,907,032 
Heartland Express, Inc.
1,369,702 20,531,833 
Lyft, Inc., Class A(1)
5,265,526 74,296,572 
Marten Transport Ltd.
2,394,223 41,276,405 
PAMT Corp.(1)
247 3,342 
Ryder System, Inc.
644,522 161,678,344 
Schneider National, Inc., Class B
1,715,089 60,611,245 


Universal Logistics Holdings, Inc.
268,030 4,264,357 
Werner Enterprises, Inc.
2,486,115 103,198,634 
  625,568,660 
Health Care Equipment and Supplies — 1.4%
  
Acme United Corp.(2)
37,411 1,578,744 
Avanos Medical, Inc.(1)
46,467 1,152,382 
Bioventus, Inc., Class A(1)
923,013 7,854,841 
Electromed, Inc.(1)
10,245 386,441 
Enovis Corp.(1)
515,379 11,688,796 
FONAR Corp.(1)
81,622 1,558,980 
Kewaunee Scientific Corp.(1)(2)
38,810 1,574,522 
Lantheus Holdings, Inc.(1)
1,932,733 191,920,387 
LivaNova PLC(1)
1,616,502 119,297,848 
Pro-Dex, Inc.(1)(2)
1,065 68,980 
QuidelOrtho Corp.(1)(2)
2,685,267 34,962,176 
Tactile Systems Technology, Inc.(1)
232,381 5,718,896 
Varex Imaging Corp.(1)
175,097 1,791,242 
  379,554,235 
Health Care Providers and Services — 0.6%
  
Acadia Healthcare Co., Inc.(1)
2,457,625 57,016,900 
Ardent Health, Inc.(1)
105,116 970,221 
Cross Country Healthcare, Inc.(1)
838,369 10,974,250 
InfuSystem Holdings, Inc.(1)
540,873 4,905,718 
Joint Corp.(1)
4,120 36,668 
National HealthCare Corp.
47,924 8,838,144 
Nutex Health, Inc.(1)(2)
185,553 23,956,748 
PACS Group, Inc.(1)
1,378,833 50,534,229 
Progyny, Inc.(1)
43,353 1,108,103 
  158,340,981 
Health Care Technology — 0.1%
  
CareCloud, Inc.(1)(2)
467,837 1,099,417 
Teladoc Health, Inc.(1)
2,912,888 22,167,078 
  23,266,495 
Hotels, Restaurants and Leisure — 1.7%
  
Accel Entertainment, Inc.(1)(2)
1,303,706 15,501,064 
BJ's Restaurants, Inc.(1)
842,080 39,619,864 
Bloomin' Brands, Inc.
1,296,908 10,945,904 
Boyd Gaming Corp.
828,644 68,512,286 
Canterbury Park Holding Corp.
118 1,869 
Cheesecake Factory, Inc.
1,591,893 105,128,614 
Cracker Barrel Old Country Store, Inc.(2)
864,254 29,229,070 
Full House Resorts, Inc.(1)
157,783 394,458 
Life Time Group Holdings, Inc.(1)
1,383,202 45,756,322 
Monarch Casino & Resort, Inc.
469,339 56,442,708 
ONE Group Hospitality, Inc.(1)
89,449 179,345 
Pursuit Attractions & Hospitality, Inc.(1)
312,020 13,969,135 
RCI Hospitality Holdings, Inc.
217,586 5,520,157 
Super Group SGHC Ltd.
4,249,463 52,905,814 
Target Hospitality Corp.(1)
1,045,141 18,143,648 
  462,250,258 
Household Durables — 1.6%
  
Bassett Furniture Industries, Inc.
53,724 803,711 
Beazer Homes USA, Inc.(1)
288,650 7,328,824 
Century Communities, Inc.
502,486 26,541,311 
Cricut, Inc., Class A(2)
1,745,262 7,242,837 


Ethan Allen Interiors, Inc.
748,080 15,425,410 
Flexsteel Industries, Inc.
136,524 7,866,513 
Hamilton Beach Brands Holding Co., Class A
163,896 3,327,089 
Helen of Troy Ltd.(1)
218,679 5,934,948 
Hovnanian Enterprises, Inc., Class A(1)
126,040 13,909,774 
KB Home
865,377 42,282,320 
La-Z-Boy, Inc.
1,486,673 55,869,171 
Legacy Housing Corp.(1)
48,310 1,159,923 
Leggett & Platt, Inc.
790,216 8,115,518 
Lifetime Brands, Inc.
228,047 1,949,802 
Lovesac Co.(1)
75,611 1,162,897 
M/I Homes, Inc.(1)
398,926 52,506,640 
Mohawk Industries, Inc.(1)
533,922 57,353,901 
Taylor Morrison Home Corp.(1)
1,988,703 116,339,126 
Universal Electronics, Inc.(1)
210,159 874,261 
  425,993,976 
Household Products — 0.7%
  
Central Garden & Pet Co.(1)
326,774 12,574,264 
Central Garden & Pet Co., Class A(1)
2,107,879 71,941,910 
Oil-Dri Corp. of America
424,043 32,507,136 
Spectrum Brands Holdings, Inc.
965,138 75,946,709 
  192,970,019 
Independent Power and Renewable Electricity Producers — 0.2%
  
Hallador Energy Co.(1)
1,249,631 24,067,893 
Montauk Renewables, Inc.(1)(2)
774,101 1,346,936 
XPLR Infrastructure LP(1)
1,956,625 24,418,680 
  49,833,509 
Insurance — 6.0%
  
American Coastal Insurance Corp., Class C
681,984 7,126,733 
American Integrity Insurance Group, Inc.
199,252 3,259,763 
AMERISAFE, Inc.
22,679 695,111 
Assured Guaranty Ltd.
1,200,777 89,109,661 
Ategrity Specialty Holdings LLC(1)
6,000 117,060 
Axis Capital Holdings Ltd.
624,645 59,297,550 
Bowhead Specialty Holdings, Inc.(1)
29,224 777,943 
Brighthouse Financial, Inc.(1)
2,144,586 134,143,854 
CNO Financial Group, Inc.
3,076,951 141,447,437 
Crawford & Co., Class A
134,136 1,401,721 
Crawford & Co., Class B
44,723 448,572 
Donegal Group, Inc., Class A
375,448 6,371,352 
Employers Holdings, Inc.
469,718 20,432,733 
Exzeo Group, Inc.(1)
218,464 3,025,726 
F&G Annuities & Life, Inc.
668,801 18,539,164 
First American Financial Corp.
1,064,691 70,514,485 
Genworth Financial, Inc., Class A(1)
9,525,903 81,541,730 
Greenlight Capital Re Ltd., Class A(1)
451,591 7,076,431 
Hanover Insurance Group, Inc.
734,713 136,803,561 
HCI Group, Inc.
325,389 50,132,683 
Heritage Insurance Holdings, Inc.(1)
874,941 18,968,721 
Horace Mann Educators Corp.
905,796 41,422,051 
Investors Title Co.
6,601 1,549,585 
James River Group Holdings, Inc.
264,883 1,035,692 
Kingstone Cos., Inc.
313,225 4,657,656 
Lincoln National Corp.
329,875 11,641,289 
Mercury General Corp.
782,876 76,745,334 


Oscar Health, Inc., Class A(1)
6,559,535 145,818,463 
Palomar Holdings, Inc.(1)
574,949 61,542,541 
Pelagos Insurance Capital Ltd.
1,093,056 23,588,148 
ProAssurance Corp.(1)
264,821 6,353,056 
Safety Insurance Group, Inc.
129,229 9,067,999 
Selective Insurance Group, Inc.
1,320,300 114,258,762 
SiriusPoint Ltd.(1)
3,891,872 83,091,467 
Skyward Specialty Insurance Group, Inc.(1)
946,989 41,781,155 
Slide Insurance Holdings, Inc.(1)
1,727,897 31,153,983 
Tiptree, Inc.
192,305 3,507,643 
Trupanion, Inc.(1)
11,641 254,007 
United Fire Group, Inc.
533,933 23,669,250 
Universal Insurance Holdings, Inc.
874,409 32,370,621 
White Mountains Insurance Group Ltd.
24,591 50,775,989 
  1,615,516,682 
Interactive Media and Services — 0.2%
  
Cargurus, Inc.(1)
195,861 5,848,410 
Cars.com, Inc.(1)
1,656,518 17,029,005 
EverQuote, Inc., Class A(1)
104,021 2,001,364 
Yelp, Inc.(1)
1,391,384 31,723,555 
Ziff Davis, Inc.(1)
207,532 9,353,467 
  65,955,801 
IT Services — 0.3%
  
DXC Technology Co.(1)
8,774,487 86,955,166 
Kyndryl Holdings, Inc.(1)
33,097 412,720 
TSS, Inc.(1)(2)
70,514 1,162,071 
  88,529,957 
Leisure Products — 1.8%
  
American Outdoor Brands, Inc.(1)
58,677 594,691 
Brunswick Corp.
1,612,976 135,102,870 
Callaway Golf Co.(1)
5,039,756 77,612,242 
Clarus Corp.
434,435 1,331,543 
Escalade, Inc.
39,811 747,252 
Funko, Inc., Class A(1)
25,650 145,692 
JAKKS Pacific, Inc.
81,675 1,804,201 
Johnson Outdoors, Inc., Class A
92,620 4,145,671 
Malibu Boats, Inc., Class A(1)
542,597 14,899,714 
MasterCraft Boat Holdings, Inc.(1)
283,737 6,608,235 
Polaris, Inc.
1,713,739 120,938,561 
Smith & Wesson Brands, Inc.
323,766 4,927,719 
Sturm Ruger & Co., Inc.
213,500 8,345,715 
YETI Holdings, Inc.(1)
2,101,167 100,792,981 
  477,997,087 
Life Sciences Tools and Services — 0.0%
  
OmniAb, Inc.(1)
21,075 841 
OmniAb, Inc.(1)
21,075 478 
  1,319 
Machinery — 3.0%
  
Alamo Group, Inc.
256,081 38,593,967 
Albany International Corp., Class A
921,203 59,592,622 
Astec Industries, Inc.
337,985 17,020,925 
Blue Bird Corp.(1)
1,070,276 72,532,605 
Commercial Vehicle Group, Inc.(1)
442,798 2,280,410 
Douglas Dynamics, Inc.
29,651 1,320,952 
Eastern Co.(2)
8,019 172,649 


Graham Corp.(1)
48,023 4,809,023 
Greenbrier Cos., Inc.
1,450,135 68,315,860 
Hyster-Yale, Inc.
343,264 12,467,348 
Kennametal, Inc.
2,470,147 81,020,822 
L.B. Foster Co., Class A(1)
96,846 3,984,244 
Lindsay Corp.
234,423 25,620,090 
Luxfer Holdings PLC
882,503 15,029,026 
Manitowoc Co., Inc.(1)
207,086 2,449,827 
Mayville Engineering Co., Inc.(1)
123,822 3,324,621 
Miller Industries, Inc.
174,857 8,377,399 
Mueller Industries, Inc.
151,117 19,433,646 
Mueller Water Products, Inc., Class A
2,521,937 63,578,032 
Omega Flex, Inc.
8,563 258,859 
Park-Ohio Holdings Corp.
253,577 8,256,467 
Perma-Pipe International Holdings, Inc.(1)
100,301 3,078,238 
Taylor Devices, Inc.(1)(2)
27,281 1,391,331 
Tennant Co.
432,853 37,272,972 
Terex Corp.
1,818,300 105,788,694 
Titan International, Inc.(1)
578,469 4,176,546 
Trinity Industries, Inc.
3,466,744 112,461,175 
Wabash National Corp.
772,487 6,125,822 
Worthington Enterprises, Inc.
436,822 24,798,385 
  803,532,557 
Marine Transportation — 1.7%
  
Costamare Bulkers Holdings Ltd.(1)
285,530 4,608,454 
Costamare, Inc.
1,573,190 24,195,662 
Genco Shipping & Trading Ltd.
1,521,309 36,602,694 
Kirby Corp.(1)
775,947 109,090,389 
Matson, Inc.
1,467,924 266,134,621 
Pangaea Logistics Solutions Ltd.
240,889 1,823,530 
Safe Bulkers, Inc.
965,759 6,035,994 
  448,491,344 
Media — 0.6%
  
Advantage Solutions, Inc.(1)(2)
11,169 417,944 
AMC Global Media, Inc., Class A(1)(2)
1,382,630 13,439,164 
Cable One, Inc.(1)
164,921 8,666,599 
Entravision Communications Corp., Class A
301,710 2,739,527 
Gambling.com Group Ltd.(1)(2)
170,301 405,316 
Ibotta, Inc., Class A(1)(2)
50,081 1,715,274 
PubMatic, Inc., Class A(1)
346,323 4,045,053 
Scholastic Corp.
710,163 28,761,601 
TechTarget, Inc.(1)
158,868 729,204 
Versant Media Group, Inc.
2,611,046 112,640,524 
  173,560,206 
Metals and Mining — 1.5%
  
Alpha Metallurgical Resources, Inc.(1)
127,865 25,441,299 
Ampco-Pittsburgh Corp.(1)
266,952 3,021,897 
Caledonia Mining Corp. PLC(2)
316,817 7,527,572 
Commercial Metals Co.
35,505 2,700,155 
Compass Minerals International, Inc.(1)
1,687,740 53,872,661 
Ferroglobe PLC
1,080,481 4,678,483 
Kaiser Aluminum Corp.
349,501 63,623,162 
Materion Corp.
364,636 80,234,505 
Metallus, Inc.(1)
1,409,108 27,688,972 
Ramaco Resources, Inc., Class B(1)
110,418 1,270,911 


Ryerson Holding Corp.
1,804,321 51,603,581 
SunCoke Energy, Inc.
3,711,390 33,439,624 
Tredegar Corp.(1)
305,441 2,385,494 
Warrior Met Coal, Inc.
507,741 48,001,834 
Worthington Steel, Inc.
212,215 8,953,351 
  414,443,501 
Oil, Gas and Consumable Fuels — 8.2%
  
Amplify Energy Corp.(1)(2)
1,152,284 5,335,075 
Ardmore Shipping Corp.
1,423,014 22,882,065 
BKV Corp.(1)
373,447 9,911,283 
California Resources Corp.
2,658,538 157,624,718 
Chord Energy Corp.
846,211 111,589,845 
Clean Energy Fuels Corp.(1)
472,090 963,064 
CNX Resources Corp.(1)
3,675,643 123,832,413 
Comstock Resources, Inc.(1)(2)
2,120,191 28,262,146 
Core Natural Resources, Inc.
358,248 31,683,453 
Crescent Energy Co., Class A
7,580,275 87,627,979 
CVR Energy, Inc.
5,363 178,159 
DHT Holdings, Inc.
3,252,450 53,079,984 
Dorian LPG Ltd.
1,312,577 52,791,847 
Epsilon Energy Ltd.
106,664 603,718 
Evolution Petroleum Corp.
902,468 3,826,464 
FutureFuel Corp.
266,658 1,103,964 
Gran Tierra Energy, Inc.(1)(2)
1,406,045 10,924,970 
Granite Ridge Resources, Inc.
2,538,614 12,337,664 
Green Plains, Inc.(1)
16,682 261,407 
Gulfport Energy Corp.(1)
220,027 37,094,352 
HighPeak Energy, Inc.
806,081 5,723,175 
Infinity Natural Resources, Inc., Class A(1)
106,937 1,448,996 
International Seaways, Inc.
1,773,753 136,915,994 
Kimbell Royalty Partners LP
2,678,139 40,198,866 
Kosmos Energy Ltd.(1)
1,179,880 3,303,664 
Magnolia Oil & Gas Corp., Class A
6,329,890 173,185,790 
Matador Resources Co.
1,488,727 79,795,767 
Murphy Oil Corp.
4,263,706 154,303,520 
NACCO Industries, Inc., Class A
35,345 1,788,457 
Navigator Holdings Ltd.
417,355 9,056,603 
Nordic American Tankers Ltd.
2,241,239 11,542,381 
Northern Oil & Gas, Inc.
3,362,019 73,191,154 
Par Pacific Holdings, Inc.(1)
1,642,866 92,263,355 
Peabody Energy Corp.
3,326,812 89,990,265 
PEDEVCO Corp.(1)(2)
19,039 244,651 
PrimeEnergy Resources Corp.(1)
9,067 1,492,610 
REX American Resources Corp.(1)
486,860 22,765,574 
Riley Exploration Permian, Inc.
529,850 17,622,811 
Ring Energy, Inc.(1)
406,930 524,940 
SandRidge Energy, Inc.
1,069,069 15,683,242 
Scorpio Tankers, Inc.
978,648 72,919,062 
SFL Corp. Ltd.
2,411,459 26,622,507 
SM Energy Co.
7,601,696 233,448,084 
Summit Midstream Corp.(1)
130,007 3,464,687 
Talos Energy, Inc.(1)
4,950,204 72,619,493 
Teekay Corp. Ltd.
1,389,295 15,935,214 
Teekay Tankers Ltd., Class A
799,032 56,211,901 
VAALCO Energy, Inc.
4,228,231 22,071,366 


Vitesse Energy, Inc.
855,266 14,778,996 
World Kinect Corp.
1,232,416 35,505,905 
  2,236,533,600 
Paper and Forest Products — 0.5%
  
Clearwater Paper Corp.(1)
173,815 2,833,184 
Louisiana-Pacific Corp.
898,558 68,631,860 
Magnera Corp.(1)
492,199 5,596,303 
Sylvamo Corp.
1,494,977 58,707,747 
  135,769,094 
Passenger Airlines — 1.6%
  
Alaska Air Group, Inc.(1)
3,755,604 172,832,896 
Allegiant Travel Co.(1)
1,187,959 108,828,924 
Republic Airways Holdings, Inc.(1)
4,232 86,121 
SkyWest, Inc.(1)
1,898,018 162,565,242 
  444,313,183 
Personal Care Products — 0.1%
  
Edgewell Personal Care Co.
141,432 2,477,889 
Honest Co., Inc.(1)
516,620 1,808,170 
Interparfums, Inc.
7,066 666,818 
Lifevantage Corp.
77,797 612,262 
Medifast, Inc.(1)(2)
232,790 2,916,859 
Nature's Sunshine Products, Inc.(1)
584,678 12,441,948 
Nu Skin Enterprises, Inc., Class A
1,941,304 11,240,150 
USANA Health Sciences, Inc.(1)
159,569 2,920,113 
  35,084,209 
Pharmaceuticals — 0.7%
  
Amphastar Pharmaceuticals, Inc.(1)
946,215 17,836,153 
ANI Pharmaceuticals, Inc.(1)
345,375 27,115,391 
Collegium Pharmaceutical, Inc.(1)
320,191 10,761,620 
CorMedix, Inc.(1)
3,648 30,789 
Harmony Biosciences Holdings, Inc.(1)
2,034,390 64,266,380 
Innoviva, Inc.(1)
1,438,540 30,813,527 
Pacira BioSciences, Inc.(1)
762,506 17,705,389 
Perrigo Co. PLC
280,068 3,094,752 
Prestige Consumer Healthcare, Inc.(1)
70,363 3,344,353 
SIGA Technologies, Inc.
1,254,840 5,872,651 
  180,841,005 
Professional Services — 0.5%
  
Barrett Business Services, Inc.
34,909 1,135,939 
Clarivate PLC(1)(2)
11,748,916 29,724,758 
Conduent, Inc.(1)
2,467,987 4,269,618 
Franklin Covey Co.(1)
64,528 1,530,604 
IBEX Holdings Ltd.(1)
414,194 13,105,098 
Kelly Services, Inc., Class A
904,812 10,513,915 
Kforce, Inc.
332,024 15,601,808 
Korn Ferry
180,827 12,654,274 
Paycom Software, Inc.
207,627 28,999,263 
RCM Technologies, Inc.(1)
16,764 362,270 
Resources Connection, Inc.
406,022 1,835,219 
TrueBlue, Inc.(1)
277,926 1,725,920 
Upwork, Inc.(1)
695,623 6,135,395 
  127,594,081 
Real Estate Management and Development — 0.6%
  
AMREP Corp.(1)
4,124 103,183 
Douglas Elliman, Inc.(1)
814,581 1,466,246 


Forestar Group, Inc.(1)
775,826 21,311,940 
Howard Hughes Holdings, Inc.(1)
1,191,512 75,482,285 
Opendoor Technologies, Inc.(1)
11,234,809 56,623,437 
  154,987,091 
Semiconductors and Semiconductor Equipment — 0.9%
  
Amtech Systems, Inc.(1)
11,848 252,007 
Cirrus Logic, Inc.(1)
13,008 2,210,710 
Penguin Solutions, Inc.(1)
654,647 36,548,942 
Photronics, Inc.(1)
2,726,340 88,197,099 
SkyWater Technology, Inc.(1)
1,365,285 53,218,809 
SolarEdge Technologies, Inc.(1)(2)
956,472 73,026,637 
  253,454,204 
Software — 0.2%
  
Alarm.com Holdings, Inc.(1)
511,785 23,086,621 
OneSpan, Inc.
395,832 5,715,814 
Pagaya Technologies Ltd., Class A(1)
1,476,545 22,325,361 
Xperi, Inc.(1)
112,539 894,685 
  52,022,481 
Specialty Retail — 4.9%
  
1-800-Flowers.com, Inc., Class A(1)
15,305 69,944 
Abercrombie & Fitch Co., Class A(1)
1,586,555 122,513,777 
Academy Sports & Outdoors, Inc.
2,099,742 110,866,378 
Advance Auto Parts, Inc.
865,750 52,152,780 
American Eagle Outfitters, Inc.
5,168,808 81,667,166 
Arhaus, Inc.
1,139,952 7,717,475 
Asbury Automotive Group, Inc.(1)
14,311 2,686,318 
Barnes & Noble Education, Inc.(1)(2)
138,349 1,433,296 
Buckle, Inc.
1,143,349 52,445,419 
Build-A-Bear Workshop, Inc.(2)
486,517 18,103,297 
Caleres, Inc.
1,106,303 16,107,772 
CarMax, Inc.(1)
2,715,619 121,170,920 
Citi Trends, Inc.(1)
44,361 2,041,050 
Designer Brands, Inc., Class A
1,501,030 11,587,952 
Duluth Holdings, Inc., Class B(1)
41,918 140,425 
Envela Corp.(1)
12,134 308,932 
Five Below, Inc.(1)
855,570 194,522,395 
Genesco, Inc.(1)
97,874 3,755,425 
Haverty Furniture Cos., Inc.
479,535 11,120,417 
J Jill, Inc.(2)
122,481 1,551,834 
Lands' End, Inc.(1)(2)
437,790 5,144,032 
Lithia Motors, Inc.
269,696 78,451,869 
MarineMax, Inc.(1)
331,386 11,412,934 
PetMed Express, Inc.(1)
605 1,313 
Sally Beauty Holdings, Inc.(1)
2,582,724 34,298,575 
Shoe Carnival, Inc.
604,654 10,702,376 
Signet Jewelers Ltd.
1,488,012 130,037,369 
Sonic Automotive, Inc., Class A
255,709 21,126,678 
Tile Shop Holdings, Inc.(1)
28,189 83,157 
Tilly's, Inc., Class A(1)
39,805 177,530 
Upbound Group, Inc.
585,678 11,250,874 
Urban Outfitters, Inc.(1)
2,056,922 149,435,383 
Victoria's Secret & Co.(1)
1,059,485 58,271,675 
Zumiez, Inc.(1)
196,594 4,842,110 
  1,327,198,847 


Technology Hardware, Storage and Peripherals — 0.2%
  
AstroNova, Inc.(1)
22,129 345,655 
Diebold Nixdorf, Inc.(1)
643,751 52,233,956 
Immersion Corp.(2)
74,901 485,359 
  53,064,970 
Textiles, Apparel and Luxury Goods — 2.0%
  
Carter's, Inc.
1,054,097 40,677,603 
Columbia Sportswear Co.
874,294 57,860,777 
Crocs, Inc.(1)
925,645 109,846,292 
Ermenegildo Zegna NV(2)
1,678,313 24,671,201 
Figs, Inc., Class A(1)
172 2,023 
Fossil Group, Inc.(1)
1,358,716 5,951,176 
G-III Apparel Group Ltd.
1,593,450 51,516,239 
Movado Group, Inc.
344,607 13,191,556 
Oxford Industries, Inc.(2)
603,157 26,912,865 
PVH Corp.
1,457,571 135,962,223 
Rocky Brands, Inc.
225,428 8,715,047 
Superior Group of Cos., Inc.(2)
314,762 4,025,806 
Unifi, Inc.(1)
23,563 93,545 
Vera Bradley, Inc.(1)
526,283 1,741,997 
VF Corp.
3,106,102 53,362,832 
  534,531,182 
Trading Companies and Distributors — 1.9%
  
BlueLinx Holdings, Inc.(1)
151,930 7,898,841 
Boise Cascade Co.
800,037 55,778,579 
DNOW, Inc.(1)
1,082,387 13,843,730 
GATX Corp.
1,089,009 184,129,642 
Herc Holdings, Inc.
38,874 5,170,242 
Hudson Technologies, Inc.(1)
1,110,852 5,909,733 
Karat Packaging, Inc.
217,302 5,893,230 
NPK International, Inc.(1)
2,589,415 37,598,306 
Rush Enterprises, Inc., Class A
2,305,736 159,856,677 
Rush Enterprises, Inc., Class B
294,667 19,123,888 
Titan Machinery, Inc.(1)
704,311 15,368,066 
  510,570,934 
Wireless Telecommunication Services — 0.7%
  
Array Digital Infrastructure, Inc.
630,035 32,043,580 
Telephone & Data Systems, Inc.
3,845,974 150,416,043 
  182,459,623 
TOTAL COMMON STOCKS
(Cost $22,539,157,870)
 27,061,110,337 
WARRANTS — 0.0%
  
Real Estate Management and Development — 0.0%
  
Opendoor Technologies, Inc.(1)
(Cost $—)
231,187 154,895 
RIGHTS — 0.0%
  
Biotechnology — 0.0%
  
Cargo Therapeutics, Inc.(1)
54,092 541 
Software — 0.0%
  
Gen Digital, Inc.(1)
21,590 40,589 
TOTAL RIGHTS
(Cost $84,201)
 41,130 


SHORT-TERM INVESTMENTS — 0.3%
  
Money Market Funds — 0.3%
  
State Street Institutional U.S. Government Money Market Fund, Premier Class
33,839,064 33,839,064 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
39,934,596 39,934,596 
TOTAL SHORT-TERM INVESTMENTS
(Cost $73,773,660)
 73,773,660 
TOTAL INVESTMENT SECURITIES — 100.1%
(Cost $22,613,015,731)
 27,135,080,022 
OTHER ASSETS AND LIABILITIES — (0.1)%
 (38,213,722)
TOTAL NET ASSETS — 100.0%
 $27,096,866,300 

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 $71,249,343. 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 $73,509,191, which includes securities collateral of $33,574,595.


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 Trustees 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.

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 a 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 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.

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.
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.