American Century Investments®
Quarterly Portfolio Holdings
Avantis® All Equity Markets Value ETF (AVGV)
May 31, 2026


Avantis All Equity Markets Value ETF - Schedule of Investments
MAY 31, 2026 (UNAUDITED) 
 
Shares
Value ($)
UNDERLYING FUNDS(1) — 99.9%
 
 
Domestic Equity Funds — 61.8%
 
 
Avantis U.S. Large Cap Value ETF
1,416,037 127,839,821 
Avantis U.S. Mid Cap Value ETF(2)
315,701 25,016,147 
Avantis U.S. Small Cap Value ETF
517,685 62,148,084 
 
 
215,004,052 
International Equity Funds — 38.1%
 
 
Avantis Emerging Markets Value ETF
545,474 36,934,045 
Avantis International Large Cap Value ETF
777,830 62,101,947 
Avantis International Small Cap Value ETF
306,413 33,772,841 
 
 
132,808,833 
TOTAL UNDERLYING FUNDS
(Cost $280,255,984)
 
347,812,885 
SHORT-TERM INVESTMENTS — 0.1%
 
 
Money Market Funds — 0.1%
 
 
State Street Institutional U.S. Government Money Market Fund, Premier Class
273,633 273,633 
State Street Navigator Securities Lending Government Money Market Portfolio(3)
72,900 72,900 
TOTAL SHORT-TERM INVESTMENTS
(Cost $346,533)
 
346,533 
TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $280,602,517)
 
348,159,418 
OTHER ASSETS AND LIABILITIES — 0.0%
 
(54,440)
TOTAL NET ASSETS — 100.0%
 
$348,104,978 

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 $71,316. 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 $72,900.


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 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 U.S. Large Cap Value ETF
$56,639 $50,620 — $20,581 $127,840 1,416 — $688 
Avantis U.S. Mid Cap Value ETF(2)
12,066 10,602 — 2,348 25,016 316 — 129 
Avantis U.S. Small Cap Value ETF
28,123 26,010 — 8,015 62,148 518 — 380 
Avantis Emerging Markets Value ETF
17,081 14,815 — 5,038 36,934 545 — 423 
Avantis International Large Cap Value ETF
29,986 24,222 — 7,894 62,102 778 — 604 
Avantis International Small Cap Value ETF
16,010 12,122 — 5,641 33,773 306 — 333 
 
$159,905 $138,391 — $49,517 $347,813 3,879 — $2,557 
(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.