American Century Quantitative Equity Funds NCSR Certified annual shareholder report (management investment company)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-05447

AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.

(Exact name of registrant as specified in charter)

4500 MAIN STREET, KANSAS CITY, MISSOURI

64111

(Address of principal executive offices)

(Zip Code)

JOHN PAK
4500 MAIN STREET, KANSAS CITY, MISSOURI 64111

(Name and address of agent for service)

Registrant’s telephone number, including area code:

816-531-5575

Date of fiscal year end:

06-30

Date of reporting period:

06-30-2024

ITEM 1. REPORTS TO STOCKHOLDERS.

(a) Provided under separate cover.

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


Investor Class (BIGRX)			June 30, 2024

This annual shareholder report contains important information about Disciplined Core Value Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$71	0.66%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund Investor Class returned 14.70% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	14.70%	8.90%	8.22%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Value	13.06%	9.01%	8.23%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M303

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


I Class (AMGIX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
I Class	$49	0.46%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund I Class returned 14.92% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
I Class	14.92%	9.12%	8.44%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Value	13.06%	9.01%	8.23%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M501

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


A Class (AMADX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
A Class	$98	0.91%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund A Class returned 14.39% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024
The initial investment is adjusted to reflect the maximum initial sales charge.


Average Annual Total Returns
	1 Year	5 Year	10 Year
A Class	14.39%	8.62%	7.94%
A Class - with sales charge	7.81%	7.34%	7.31%
Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Value	13.06%	9.01%	8.23%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

A Class shares have a 5.75% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M402

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


C Class (ACGCX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
C Class	$177	1.66%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund C Class returned 13.55% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
C Class	13.55%	7.82%	7.14%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Value	13.06%	9.01%	8.23%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M816

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


R Class (AICRX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R Class	$124	1.16%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund R Class returned 14.11% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
R Class	14.11%	8.35%	7.68%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Value	13.06%	9.01%	8.23%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M782

ANNUAL SHAREHOLDER REPORT

Disciplined Core Value Fund ACI logo.jpg


R5 Class (AICGX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R5 Class	$49	0.46%


What were the key factors that affected the fund’s performance?
Disciplined Core Value Fund R5 Class returned 14.91% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. Income is a secondary objective. The commentary below refers to the fund's performance compared to the Russell 1000 Value Index.
•			In the information technology sector, stock choices in the semiconductors and semiconductor equipment industry contributed to relative returns, reflecting the market's strong preference for artificial intelligence (AI)-related stocks. Shares of Broadcom posted strong gains due to robust results in both its semiconductor business and its software segment. KLA and Qualcomm also contributed.
•			In utilities, independent power producer Vistra was the leading overall contributor to performance. Its nuclear power generation make it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity. Recent approval of its acquisition of Energy Harbor will add 1 million retail customers and significant nuclear capacity.
•			Stock choices in the financials sector detracted from relative performance. Financial technology company Global Payments trended lower due to a decline in global investment in financial technology. Positioning in the capital markets industry also detracted as it hurt not to have exposure to brokers benefiting from resurgent financial markets.
•			In the energy sector, an underweight to oil, gas and consumable fuels companies detracted from returns compared with the index. Energy prices were fairly volatile but ultimately supported by stronger-than-expected economic growth in the U.S. and conflict in the Middle East, including shipping disruptions in the Red Sea. An underweight to ConocoPhillips detracted most.


Cumulative Performance (based on an initial $10,000 investment)
April 10, 2017, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
R5 Class	14.91%	9.11%	9.17%	4/10/17

Regulatory Index
Russell 1000	23.88%	14.61%	13.97%	—

Performance Index
Russell 1000 Value	13.06%	9.01%	8.54%	—

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,989,921,454
Management Fees (dollars paid during the reporting period)	$12,593,485
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	184


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Oil, Gas and Consumable Fuels	8.0%
Short-Term Investments	0.6%		Semiconductors and Semiconductor Equipment	7.3%
Other Assets and Liabilities	0.0%		Banks	7.1%
			Machinery	4.8%
			Pharmaceuticals	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2508G842

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


Investor Class (ADSIX)			June 30, 2024

This annual shareholder report contains important information about Disciplined Growth Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$117	1.00%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund Investor Class returned 33.74% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	33.74%	16.21%	12.97%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Growth	33.48%	19.34%	16.33%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M675

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


I Class (ADCIX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
I Class	$94	0.80%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund I Class returned 34.03% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
I Class	34.03%	16.43%	13.20%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Growth	33.48%	19.34%	16.33%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M667

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


Y Class (ADCYX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Y Class	$88	0.75%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund Y Class returned 34.08% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
April 10, 2017, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Y Class	34.08%	16.49%	15.39%	4/10/17

Regulatory Index
Russell 1000	23.88%	14.61%	13.97%	—

Performance Index
Russell 1000 Growth	33.48%	19.34%	18.79%	—

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2508G875

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


A Class (ADCVX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
A Class	$146	1.25%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund A Class returned 33.44% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024
The initial investment is adjusted to reflect the maximum initial sales charge.


Average Annual Total Returns
	1 Year	5 Year	10 Year
A Class	33.44%	15.92%	12.69%
A Class - with sales charge	25.77%	14.55%	12.02%
Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Growth	33.48%	19.34%	16.33%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

A Class shares have a 5.75% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M642

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


C Class (ADCCX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
C Class	$232	2.00%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund C Class returned 32.46% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
C Class	32.46%	15.05%	11.85%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Growth	33.48%	19.34%	16.33%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M527

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


R Class (ADRRX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R Class	$175	1.50%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund R Class returned 33.12% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
R Class	33.12%	15.63%	12.41%

Regulatory Index
Russell 1000	23.88%	14.61%	12.51%

Performance Index
Russell 1000 Growth	33.48%	19.34%	16.33%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M659

ANNUAL SHAREHOLDER REPORT

Disciplined Growth Fund ACI logo.jpg


R5 Class (ADGGX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R5 Class	$94	0.80%


What were the key factors that affected the fund’s performance?
Disciplined Growth Fund R5 Class returned 34.00% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth. The commentary below refers to the fund's performance compared to the Russell 1000 Growth Index.
•			Stock selection drove the fund’s outperformance in the industrials, consumer staples and communication services sectors. In industrials, an underweight position in trucking company Old Dominion Freight Line was beneficial. The company’s stock struggled amid still-high inflation and weak shipping demand. Shares of Uber Technologies were also advantageous.
•			The consumer staples sector was an area of strength, aided by an underweight position in PepsiCo, which is no longer held in the portfolio. In the communication services sector, Meta Platforms was a significant contributor. This parent of Facebook, Instagram and WhatsApp performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI).
•			Stock selection in the information technology and financials sectors detracted most from relative results. Among semiconductor-related stocks, an underweight to leading chip maker NVIDIA hurt relative results. AI-related stocks did very well during the period, a trend NVIDIA rode to briefly become the largest stock by market capitalization in the world.
•			In the financials sector, positioning among insurers hurt. The industry has been under pressure from rising climate- and technology-related replacement costs. Aon, a British insurance company, was a leading detractor. An underweight to property and casualty insurer The Progressive hindered results as the company reported strong earnings partly as a result of homeowner rate hikes.


Cumulative Performance (based on an initial $10,000 investment)
April 10, 2017, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
R5 Class	34.00%	16.43%	15.33%	4/10/17

Regulatory Index
Russell 1000	23.88%	14.61%	13.97%	—

Performance Index
Russell 1000 Growth	33.48%	19.34%	18.79%	—

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$447,292,359
Management Fees (dollars paid during the reporting period)	$3,879,900
Portfolio Turnover Rate	40	%
Total Number of Portfolio Holdings	106


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Software	21.0%
Short-Term Investments	0.9%		Semiconductors and Semiconductor Equipment	16.4%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12.6%
			Technology Hardware, Storage and Peripherals	11.7%
			Broadline Retail	5.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2508G883

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


Investor Class (BEQGX)			June 30, 2024

This annual shareholder report contains important information about Equity Growth Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$75	0.66%


What were the key factors that affected the fund’s performance?
Equity Growth Fund Investor Class returned 26.26% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	26.26%	11.70%	10.11%





S&P 500	24.56%	15.05%	12.86%



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M600

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


I Class (AMEIX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
I Class	$52	0.46%


What were the key factors that affected the fund’s performance?
Equity Growth Fund I Class returned 26.46% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
I Class	26.46%	11.92%	10.32%





S&P 500	24.56%	15.05%	12.86%



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M808

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


A Class (BEQAX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
A Class	$103	0.91%


What were the key factors that affected the fund’s performance?
Equity Growth Fund A Class returned 25.93% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024
The initial investment is adjusted to reflect the maximum initial sales charge.


Average Annual Total Returns
	1 Year	5 Year	10 Year
A Class	25.93%	11.42%	9.83%
A Class - with sales charge	18.69%	10.10%	9.18%




S&P 500	24.56%	15.05%	12.86%

A Class shares have a 5.75% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M709

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


C Class (AEYCX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
C Class	$187	1.66%


What were the key factors that affected the fund’s performance?
Equity Growth Fund C Class returned 24.96% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
C Class	24.96%	10.58%	9.01%





S&P 500	24.56%	15.05%	12.86%

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M790

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


R Class (AEYRX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R Class	$131	1.16%


What were the key factors that affected the fund’s performance?
Equity Growth Fund R Class returned 25.61% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
R Class	25.61%	11.14%	9.56%





S&P 500	24.56%	15.05%	12.86%



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M766

ANNUAL SHAREHOLDER REPORT

Equity Growth Fund ACI logo.jpg


R5 Class (AEYGX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R5 Class	$52	0.46%


What were the key factors that affected the fund’s performance?
Equity Growth Fund R5 Class returned 26.50% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing in common stocks. The commentary below refers to the fund's performance compared to the S&P 500 Index.
•			Communication services was the leading sector contributor to relative performance during the period. Shares of Meta Platforms, parent of Facebook, Instagram and WhatsApp, performed well as the company benefited from cost-cutting efforts and investments in artificial intelligence (AI), a key theme driving stock market performance throughout the period.
•			Stock selection in the industrials sector also added to relative results as economic growth held up better than expected. In the ground transportation industry, Uber Technologies contributed most. Stock choices in the health care sector also contributed to relative performance, especially in the life sciences tools and services and pharmaceuticals industries.
•			Stock selections in the financials and energy sectors hindered relative results. In financials, positions in Visa and PayPal Holdings detracted most. In the energy sector, ChampionX, an energy equipment and services company, was the leading detractor.
•			During a period when the market was narrowly focused on AI- and obesity-related stocks, an overweight position in consumer products company Kimberly-Clark detracted most from relative performance. The company’s key business metrics were solid, and its returns were positive but lagged the gains of the narrowly concentrated large-cap market indices.


Cumulative Performance (based on an initial $10,000 investment)
April 10, 2017, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
R5 Class	26.50%	11.92%	11.82%	4/10/17





S&P 500	24.56%	15.05%	14.30%	—



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$1,683,434,123
Management Fees (dollars paid during the reporting period)	$10,135,109
Portfolio Turnover Rate	53	%
Total Number of Portfolio Holdings	215


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Semiconductors and Semiconductor Equipment	13.9%
Short-Term Investments	0.4%		Software	12.8%
Other Assets and Liabilities	0.0%		Interactive Media and Services	7.0%
			Technology Hardware, Storage and Peripherals	6.6%
			Broadline Retail	4.7%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2508G867

ANNUAL SHAREHOLDER REPORT

Global Gold Fund ACI logo.jpg


Investor Class (BGEIX)			June 30, 2024

This annual shareholder report contains important information about Global Gold Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$72	0.66%


What were the key factors that affected the fund’s performance?
Global Gold Fund Investor Class returned 18.07% for the reporting period ended June 30, 2024.
The fund seeks to realize a total return (capital growth and dividends) consistent with investment in securities of companies that are engaged in mining, processing, fabricating or distributing gold or other precious metals throughout the world. The commentary below refers to the fund's performance compared to the NYSE Arca Gold Miners Index.
•			Gold’s price rose sharply, reaching an all-time high. Gold demand was driven by central bank buying and investor hedging against geopolitical risk. For all of 2023, central bank gold purchases were the second-highest annual total on record. According to an early 2024 World Gold Council survey, a record number of central banks intend to increase their gold reserves in the next 12 months.
•			Rising gold prices meant stronger gold miner earnings and strong stock performance. Nevertheless, the leading individual contributor to relative performance was an underweight allocation to Newmont Mining. Newmont is the leading gold producer in the world, but it announced a dividend cut and disappointing production figures as it works to pay down debt and digest an earlier acquisition.
•			Similarly, underweights to Franco-Nevada and Barrick Gold benefited performance compared with the index. Franco-Nevada's stock fell after announcing the closure of its copper mine operation in Panama. Barrick's stock was volatile and performed poorly in late 2023 amid production cuts and investor speculation around a potential acquisition.
•			Canada-based B2Gold was the leading detractor from relative performance, reflecting disappointing sales and production. The company also announced a delay in its new Goose Project mining operation, with the first gold production not expected until the second quarter of 2025.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	18.07%	5.48%	2.85%

Regulatory Index
MSCI World	20.19%	11.78%	9.16%

Performance Index
NYSE Arca Gold Miners	16.39%	8.03%	4.24%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$633,283,878
Management Fees (dollars paid during the reporting period)	$3,640,981
Portfolio Turnover Rate	54	%
Total Number of Portfolio Holdings	62


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Canada	47.9%
Short-Term Investments	1.6%		Australia	14.0%
Other Assets and Liabilities	(1.0)%		South Africa	13.2%
			United States	9.4%
			China	7.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M105

ANNUAL SHAREHOLDER REPORT

Global Gold Fund ACI logo.jpg


I Class (AGGNX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
I Class	$50	0.46%


What were the key factors that affected the fund’s performance?
Global Gold Fund I Class returned 18.38% for the reporting period ended June 30, 2024.
The fund seeks to realize a total return (capital growth and dividends) consistent with investment in securities of companies that are engaged in mining, processing, fabricating or distributing gold or other precious metals throughout the world. The commentary below refers to the fund's performance compared to the NYSE Arca Gold Miners Index.
•			Gold’s price rose sharply, reaching an all-time high. Gold demand was driven by central bank buying and investor hedging against geopolitical risk. For all of 2023, central bank gold purchases were the second-highest annual total on record. According to an early 2024 World Gold Council survey, a record number of central banks intend to increase their gold reserves in the next 12 months.
•			Rising gold prices meant stronger gold miner earnings and strong stock performance. Nevertheless, the leading individual contributor to relative performance was an underweight allocation to Newmont Mining. Newmont is the leading gold producer in the world, but it announced a dividend cut and disappointing production figures as it works to pay down debt and digest an earlier acquisition.
•			Similarly, underweights to Franco-Nevada and Barrick Gold benefited performance compared with the index. Franco-Nevada's stock fell after announcing the closure of its copper mine operation in Panama. Barrick's stock was volatile and performed poorly in late 2023 amid production cuts and investor speculation around a potential acquisition.
•			Canada-based B2Gold was the leading detractor from relative performance, reflecting disappointing sales and production. The company also announced a delay in its new Goose Project mining operation, with the first gold production not expected until the second quarter of 2025.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
I Class	18.38%	5.70%	3.06%

Regulatory Index
MSCI World	20.19%	11.78%	9.16%

Performance Index
NYSE Arca Gold Miners	16.39%	8.03%	4.24%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$633,283,878
Management Fees (dollars paid during the reporting period)	$3,640,981
Portfolio Turnover Rate	54	%
Total Number of Portfolio Holdings	62


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Canada	47.9%
Short-Term Investments	1.6%		Australia	14.0%
Other Assets and Liabilities	(1.0)%		South Africa	13.2%
			United States	9.4%
			China	7.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M469

ANNUAL SHAREHOLDER REPORT

Global Gold Fund ACI logo.jpg


A Class (ACGGX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
A Class	$99	0.91%


What were the key factors that affected the fund’s performance?
Global Gold Fund A Class returned 17.79% for the reporting period ended June 30, 2024.
The fund seeks to realize a total return (capital growth and dividends) consistent with investment in securities of companies that are engaged in mining, processing, fabricating or distributing gold or other precious metals throughout the world. The commentary below refers to the fund's performance compared to the NYSE Arca Gold Miners Index.
•			Gold’s price rose sharply, reaching an all-time high. Gold demand was driven by central bank buying and investor hedging against geopolitical risk. For all of 2023, central bank gold purchases were the second-highest annual total on record. According to an early 2024 World Gold Council survey, a record number of central banks intend to increase their gold reserves in the next 12 months.
•			Rising gold prices meant stronger gold miner earnings and strong stock performance. Nevertheless, the leading individual contributor to relative performance was an underweight allocation to Newmont Mining. Newmont is the leading gold producer in the world, but it announced a dividend cut and disappointing production figures as it works to pay down debt and digest an earlier acquisition.
•			Similarly, underweights to Franco-Nevada and Barrick Gold benefited performance compared with the index. Franco-Nevada's stock fell after announcing the closure of its copper mine operation in Panama. Barrick's stock was volatile and performed poorly in late 2023 amid production cuts and investor speculation around a potential acquisition.
•			Canada-based B2Gold was the leading detractor from relative performance, reflecting disappointing sales and production. The company also announced a delay in its new Goose Project mining operation, with the first gold production not expected until the second quarter of 2025.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024
The initial investment is adjusted to reflect the maximum initial sales charge.


Average Annual Total Returns
	1 Year	5 Year	10 Year
A Class	17.79%	5.23%	2.59%
A Class - with sales charge	11.02%	3.99%	1.99%
Regulatory Index
MSCI World	20.19%	11.78%	9.16%

Performance Index
NYSE Arca Gold Miners	16.39%	8.03%	4.24%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

A Class shares have a 5.75% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$633,283,878
Management Fees (dollars paid during the reporting period)	$3,640,981
Portfolio Turnover Rate	54	%
Total Number of Portfolio Holdings	62


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Canada	47.9%
Short-Term Investments	1.6%		Australia	14.0%
Other Assets and Liabilities	(1.0)%		South Africa	13.2%
			United States	9.4%
			China	7.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M204

ANNUAL SHAREHOLDER REPORT

Global Gold Fund ACI logo.jpg


C Class (AGYCX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
C Class	$180	1.66%


What were the key factors that affected the fund’s performance?
Global Gold Fund C Class returned 16.99% for the reporting period ended June 30, 2024.
The fund seeks to realize a total return (capital growth and dividends) consistent with investment in securities of companies that are engaged in mining, processing, fabricating or distributing gold or other precious metals throughout the world. The commentary below refers to the fund's performance compared to the NYSE Arca Gold Miners Index.
•			Gold’s price rose sharply, reaching an all-time high. Gold demand was driven by central bank buying and investor hedging against geopolitical risk. For all of 2023, central bank gold purchases were the second-highest annual total on record. According to an early 2024 World Gold Council survey, a record number of central banks intend to increase their gold reserves in the next 12 months.
•			Rising gold prices meant stronger gold miner earnings and strong stock performance. Nevertheless, the leading individual contributor to relative performance was an underweight allocation to Newmont Mining. Newmont is the leading gold producer in the world, but it announced a dividend cut and disappointing production figures as it works to pay down debt and digest an earlier acquisition.
•			Similarly, underweights to Franco-Nevada and Barrick Gold benefited performance compared with the index. Franco-Nevada's stock fell after announcing the closure of its copper mine operation in Panama. Barrick's stock was volatile and performed poorly in late 2023 amid production cuts and investor speculation around a potential acquisition.
•			Canada-based B2Gold was the leading detractor from relative performance, reflecting disappointing sales and production. The company also announced a delay in its new Goose Project mining operation, with the first gold production not expected until the second quarter of 2025.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
C Class	16.99%	4.45%	1.83%

Regulatory Index
MSCI World	20.19%	11.78%	9.16%

Performance Index
NYSE Arca Gold Miners	16.39%	8.03%	4.24%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$633,283,878
Management Fees (dollars paid during the reporting period)	$3,640,981
Portfolio Turnover Rate	54	%
Total Number of Portfolio Holdings	62


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Canada	47.9%
Short-Term Investments	1.6%		Australia	14.0%
Other Assets and Liabilities	(1.0)%		South Africa	13.2%
			United States	9.4%
			China	7.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M485

ANNUAL SHAREHOLDER REPORT

Global Gold Fund ACI logo.jpg


R Class (AGGWX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R Class	$126	1.16%


What were the key factors that affected the fund’s performance?
Global Gold Fund R Class returned 17.52% for the reporting period ended June 30, 2024.
The fund seeks to realize a total return (capital growth and dividends) consistent with investment in securities of companies that are engaged in mining, processing, fabricating or distributing gold or other precious metals throughout the world. The commentary below refers to the fund's performance compared to the NYSE Arca Gold Miners Index.
•			Gold’s price rose sharply, reaching an all-time high. Gold demand was driven by central bank buying and investor hedging against geopolitical risk. For all of 2023, central bank gold purchases were the second-highest annual total on record. According to an early 2024 World Gold Council survey, a record number of central banks intend to increase their gold reserves in the next 12 months.
•			Rising gold prices meant stronger gold miner earnings and strong stock performance. Nevertheless, the leading individual contributor to relative performance was an underweight allocation to Newmont Mining. Newmont is the leading gold producer in the world, but it announced a dividend cut and disappointing production figures as it works to pay down debt and digest an earlier acquisition.
•			Similarly, underweights to Franco-Nevada and Barrick Gold benefited performance compared with the index. Franco-Nevada's stock fell after announcing the closure of its copper mine operation in Panama. Barrick's stock was volatile and performed poorly in late 2023 amid production cuts and investor speculation around a potential acquisition.
•			Canada-based B2Gold was the leading detractor from relative performance, reflecting disappointing sales and production. The company also announced a delay in its new Goose Project mining operation, with the first gold production not expected until the second quarter of 2025.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
R Class	17.52%	4.97%	2.34%

Regulatory Index
MSCI World	20.19%	11.78%	9.16%

Performance Index
NYSE Arca Gold Miners	16.39%	8.03%	4.24%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$633,283,878
Management Fees (dollars paid during the reporting period)	$3,640,981
Portfolio Turnover Rate	54	%
Total Number of Portfolio Holdings	62


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Canada	47.9%
Short-Term Investments	1.6%		Australia	14.0%
Other Assets and Liabilities	(1.0)%		South Africa	13.2%
			United States	9.4%
			China	7.3%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M477

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


Investor Class (ASQIX)			June 30, 2024

This annual shareholder report contains important information about Small Company Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$91	0.86%


What were the key factors that affected the fund’s performance?
Small Company Fund Investor Class returned 10.99% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	10.99%	7.13%	5.49%

Regulatory Index
Russell 3000	23.13%	14.14%	12.15%

Performance Index
Russell 2000	10.06%	6.94%	7.00%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M840

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


I Class (ASCQX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
I Class	$70	0.66%


What were the key factors that affected the fund’s performance?
Small Company Fund I Class returned 11.12% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
I Class	11.12%	7.34%	5.70%

Regulatory Index
Russell 3000	23.13%	14.14%	12.15%

Performance Index
Russell 2000	10.06%	6.94%	7.00%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M832

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


A Class (ASQAX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
A Class	$117	1.11%


What were the key factors that affected the fund’s performance?
Small Company Fund A Class returned 10.68% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024
The initial investment is adjusted to reflect the maximum initial sales charge.


Average Annual Total Returns
	1 Year	5 Year	10 Year
A Class	10.68%	6.87%	5.23%
A Class - with sales charge	4.31%	5.61%	4.61%
Regulatory Index
Russell 3000	23.13%	14.14%	12.15%

Performance Index
Russell 2000	10.06%	6.94%	7.00%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

A Class shares have a 5.75% maximum initial sales charge and may be subject to a maximum contingent deferred sales charge of 1.00%.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M824

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


C Class (ASQCX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
C Class	$195	1.86%


What were the key factors that affected the fund’s performance?
Small Company Fund C Class returned 9.85% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
C Class	9.85%	6.06%	4.44%

Regulatory Index
Russell 3000	23.13%	14.14%	12.15%

Performance Index
Russell 2000	10.06%	6.94%	7.00%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

C Class shares will automatically convert to A Class shares after being held for approximately eight years. C Class average annual returns do not reflect this conversion.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M329

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


R Class (ASCRX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R Class	$143	1.36%


What were the key factors that affected the fund’s performance?
Small Company Fund R Class returned 10.36% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
R Class	10.36%	6.60%	4.96%

Regulatory Index
Russell 3000	23.13%	14.14%	12.15%

Performance Index
Russell 2000	10.06%	6.94%	7.00%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M774

ANNUAL SHAREHOLDER REPORT

Small Company Fund ACI logo.jpg


R5 Class (ASQGX)			June 30, 2024


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
R5 Class	$70	0.66%


What were the key factors that affected the fund’s performance?
Small Company Fund R5 Class returned 11.19% for the reporting period ended June 30, 2024.
The fund seeks long-term capital growth by investing primarily in common stocks of small companies. The commentary below refers to the fund's performance compared to the Russell 2000 Index.
•			Small-cap stocks underperformed large caps amid rising economic uncertainty. Recession worries were a headwind for small-cap stocks and many investors opted for the more durable earnings growth potential of the largest, growth-oriented businesses, particularly those associated with artificial intelligence.
•			Stock selection contributed to the fund’s performance in the industrials, consumer discretionary and consumer staples sectors. In industrials, shipping company Matson benefited from stronger-than-expected earnings and an improved outlook. In the construction and engineering industry, shares of Sterling Infrastructure and EMCOR Group contributed to performance.
•			In consumer discretionary, homebuilder M/I Homes was a leading contributor. Although earnings were mixed, it benefited from a lack of supply of existing homes. In the hotels, restaurants and leisure industry, Wingstop gained on strong earnings stemming from store expansion and robust growth in comparable store sales.
•			Stock selection in the health care sector was the leading detractor from performance. Vir Biotechnology reported mixed earnings, and the stock plummeted early in the period due to the failure of clinical trials on an influenza vaccine. In the information technology sector, stock selection in the computers and peripherals industry detracted.


Cumulative Performance (based on an initial $10,000 investment)
April 10, 2017, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
R5 Class	11.19%	7.35%	5.93%	4/10/17

Regulatory Index
Russell 3000	23.13%	14.14%	13.54%	—

Performance Index
Russell 2000	10.06%	6.94%	7.19%	—

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$155,300,740
Management Fees (dollars paid during the reporting period)	$1,321,135
Portfolio Turnover Rate	67	%
Total Number of Portfolio Holdings	323


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Software	8.3%
Short-Term Investments	0.8%		Banks	6.7%
Other Assets and Liabilities	(0.4)%		Biotechnology	5.7%
			Household Durables	4.7%
			Oil, Gas and Consumable Fuels	4.2%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2508G826

ANNUAL SHAREHOLDER REPORT

Utilities Fund ACI logo.jpg


Investor Class (BULIX)			June 30, 2024

This annual shareholder report contains important information about Utilities Fund for the period July 1, 2023 to June 30, 2024. You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
The below table explains the costs that you would have paid within the reporting period.
	Costs of $10,000 investment	Costs paid as a percentage of a $10,000 investment
Investor Class	$69	0.66%


What were the key factors that affected the fund’s performance?
Utilities Fund Investor Class returned 9.52% for the reporting period ended June 30, 2024.
The fund seeks current income and long-term growth of capital and income. The fund invests at least 80% of its assets in equity securities of companies engaged in the utilities industry. The commentary below refers to the fund's performance compared to the S&P 500 Utilities Index.
•			Utilities stocks generally advanced but lagged the broader market. Investors anticipated that the build out of data centers required for artificial intelligence (AI) will result in a significant increase in power usage. Retail electricity prices remained near all-time highs, reflecting a shortage of electricity transmission capacity and higher costs anticipated for clean energy infrastructure.
•			The fund benefited from holdings in independent power and renewable electricity producers. Texas-based Vistra was the leading overall contributor to performance. Its diversified power-generation portfolio includes nuclear power plants, making it an attractive power provider for AI/data center users seeking clean, consistent sources of electricity.
•			Another source of outperformance relative to the index were underweight allocations to Ameren and WEC Energy Group. Both companies’ stocks fell after unfavorable rulings by the Illinois Commerce Commission (ICC). The ICC rejected Ameren’s electric grid and rate proposals and halted WEC Energy Group’s proposed infrastructure project.
•			At the other end of the spectrum, Eversource Energy’s stock fell sharply after taking a $1.6 billion write-off related to its offshore wind power generation assets. Similarly, a position in poor-performing water utility SJW Group detracted from performance relative to the index amid significant capital spending on infrastructure, pipelines and solar power generation.


Cumulative Performance (based on an initial $10,000 investment)
June 30, 2014, through June 30, 2024


Average Annual Total Returns
	1 Year	5 Year	10 Year
Investor Class	9.52%	3.09%	4.86%

Regulatory Index
S&P 500	24.56%	15.05%	12.86%

Performance Index
S&P 500 Utilities	7.82%	6.11%	8.04%

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.



The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total returns for periods less than one year are not annualized. Visit americancentury.com for more recent performance information.


Fund Statistics
Net Assets	$242,389,361
Management Fees (dollars paid during the reporting period)	$1,569,534
Portfolio Turnover Rate	70	%
Total Number of Portfolio Holdings	36


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Sub-Industries (as a % of net assets)
Common Stocks	99.2%		Electric Utilities	69.2%
Short-Term Investments	0.8%		Multi-Utilities	18.3%
Other Assets and Liabilities	0.0%		Independent Power Producers and Energy Traders	6.8%
			Gas Utilities	3.1%
			Renewable Electricity	1.5%


For additional information about the fund, including its Prospectus, Statement of Additional Information, financial statements, holdings and proxy voting information, scan the QR code or visit americancentury.com/docs.


American Century Investment Services, Inc., Distributor
©2024 American Century Proprietary Holdings, Inc. All rights reserved.

A-2507M881

(b) Not applicable.

ITEM 2. CODE OF ETHICS.

(a) The registrant has adopted a Code of Ethics for Senior Financial Officers that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer, and persons performing similar functions.

(b) No response required.

(d) None.

(e) Not applicable.

(f) The registrant’s Code of Ethics for Senior Financial Officers was filed as Exhibit 12 (a)(1) to American Century Asset Allocation Portfolios, Inc.’s Annual Certified Shareholder Report on Form N-CSR, File No. 811-21591, on September 29, 2005, and is incorporated herein by reference.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

(a)(1) The registrant's board has determined that the registrant has at least one audit committee financial expert serving on its audit committee.

(a)(2) Tanya S. Beder, Jennifer Cabalquinto, Anne Casscells and John Loder are the registrant's designated audit committee financial experts. They are "independent" as defined in Item 3 of Form N-CSR.

(a)(3) Not applicable.

(b) No response required.

(d) No response required.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees.

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal

accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were as follows:


FY 2023:			$115,500
FY 2024:			$115,200

(b) Audit-Related Fees.

The aggregate fees billed in each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were as follows:

For services rendered to the registrant:


FY 2023:			$0
FY 2024:			$0

Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (relating to certain engagements for non-audit services with the registrant’s investment adviser and its affiliates):


FY 2023:			$0
FY 2024:			$0

The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were as follows:

For services rendered to the registrant:


FY 2023:			$0
FY 2024:			$0


FY 2023:			$0
FY 2024:			$0

(d) All Other Fees.

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were as follows:

For services rendered to the registrant:


FY 2023:			$0
FY 2024:			$0


FY 2023:			$0
FY 2024:			$0

(e)(1) In accordance with paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X, before the accountant is engaged by the registrant to render audit or non-audit services, the engagement is approved by the registrant’s audit committee. Pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, the registrant’s audit committee also pre-approves its accountant’s engagements for non-audit services with the registrant’s investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant.

(e)(2) All services described in each of paragraphs (b) through (d) of this Item were pre-approved before the engagement by the registrant’s audit committee pursuant to paragraph (c)(7)(i)(A) of Rule 2-01 of Regulation S-X. Consequently, none of such services were required to be approved by the audit committee pursuant to paragraph (c)(7)(i)(C).

(f) The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than 50%.

(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were as follows:


FY 2023:			$218,325
FY 2024:			$223,325

(h) The registrant’s investment adviser and accountant have notified the registrant’s audit committee of all non-audit services that were rendered by the registrant’s accountant to the registrant’s investment adviser, its parent company, and any entity controlled by, or under common control with the investment adviser that provides services to the registrant, which services were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X. The notification provided to the registrant’s audit committee included sufficient details regarding such services to allow the registrant’s audit committee to consider the continuing independence of its principal accountant.


(i)			Not applicable.

(j)			Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. INVESTMENTS.

(a) The schedule of investments is included as part of the report to stockholders filed under Item 7 of this Form.

(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

(a)



			Annual Financial Statements and Other Information

			June 30, 2024

			Disciplined Core Value Fund
			Investor Class (BIGRX)
			I Class (AMGIX)
			A Class (AMADX)
			C Class (ACGCX)
			R Class (AICRX)
			R5 Class (AICGX)


Table of Contents


Schedule of Investments			2
Statement of Assets and Liabilities			8
Statement of Operations			9
Statement of Changes in Net Assets			10
Notes to Financial Statements			11
Financial Highlights			16
Report of Independent Registered Public Accounting Firm			18
Approval of Management Agreement			19

Other Tax Information			22


Schedule of Investments

JUNE 30, 2024


	Shares	Value
COMMON STOCKS — 99.4%
Aerospace and Defense — 2.0%
Huntington Ingalls Industries, Inc.	7,026	$	1,730,715
Lockheed Martin Corp.	55,005	25,692,835
Textron, Inc.	133,898	11,496,482
		38,920,032
Air Freight and Logistics — 1.1%
FedEx Corp.	41,423	12,420,272
United Parcel Service, Inc., Class B	70,736	9,680,222
		22,100,494
Banks — 7.1%
Bank of America Corp.	182,821	7,270,791
JPMorgan Chase & Co.	428,873	86,743,853
U.S. Bancorp	685,809	27,226,617
Wells Fargo & Co.	342,276	20,327,772
		141,569,033
Beverages — 1.2%
Coca-Cola Co.	85,328	5,431,127
Molson Coors Beverage Co., Class B	66,641	3,387,362
PepsiCo, Inc.	91,470	15,086,147
		23,904,636
Biotechnology — 4.2%
Amgen, Inc.	102,922	32,157,979
Gilead Sciences, Inc.	339,830	23,315,736
Regeneron Pharmaceuticals, Inc.(1)	13,802	14,506,316
Vertex Pharmaceuticals, Inc.(1)	28,781	13,490,231
		83,470,262
Broadline Retail — 0.0%
Kohl's Corp.	22,701	521,896
Building Products — 1.8%
A O Smith Corp.	29,975	2,451,355
Johnson Controls International PLC	99,200	6,593,824
Masco Corp.	157,719	10,515,126
Owens Corning	94,341	16,388,919
		35,949,224
Capital Markets — 2.8%
Cboe Global Markets, Inc.	89,214	15,171,733
Franklin Resources, Inc.	74,244	1,659,354
Houlihan Lokey, Inc.	8,512	1,147,928
Interactive Brokers Group, Inc., Class A	72,481	8,886,171
MSCI, Inc.	16,915	8,148,801
T Rowe Price Group, Inc.	114,872	13,245,890
Tradeweb Markets, Inc., Class A	41,333	4,381,298
XP, Inc., Class A	205,927	3,622,256
		56,263,431
Chemicals — 1.0%
Axalta Coating Systems Ltd.(1)	134,217	4,586,195
PPG Industries, Inc.	119,899	15,094,085
		19,680,280
Commercial Services and Supplies — 0.5%
Brink's Co.	25,444	2,605,466


	Shares	Value
MSA Safety, Inc.	20,913	$	3,925,161
Veralto Corp.	44,660	4,263,690
		10,794,317
Communications Equipment — 0.2%
F5, Inc.(1)	23,621	4,068,245
Construction and Engineering — 0.2%
Valmont Industries, Inc.	13,357	3,665,829
Construction Materials — 0.1%
Eagle Materials, Inc.	10,274	2,234,184
Consumer Finance — 2.9%
American Express Co.	164,003	37,974,894
Discover Financial Services	63,210	8,268,500
Synchrony Financial	265,709	12,538,808
		58,782,202
Consumer Staples Distribution & Retail — 2.3%
Maplebear, Inc.(1)	89,677	2,882,219
Performance Food Group Co.(1)	69,715	4,608,859
U.S. Foods Holding Corp.(1)	194,575	10,308,583
Walmart, Inc.	414,192	28,044,940
		45,844,601
Containers and Packaging — 1.2%
Crown Holdings, Inc.	71,256	5,300,734
International Paper Co.	59,234	2,555,947
Packaging Corp. of America	65,170	11,897,435
Sonoco Products Co.	79,806	4,047,760
		23,801,876
Distributors — 0.5%
Genuine Parts Co.	24,634	3,407,375
LKQ Corp.	159,191	6,620,754
		10,028,129
Diversified Consumer Services — 0.1%
H&R Block, Inc.	52,663	2,855,914
Diversified Telecommunication Services — 0.2%
AT&T, Inc.	208,822	3,990,588
Electric Utilities — 1.0%
Evergy, Inc.	183,721	9,731,701
NextEra Energy, Inc.	106,640	7,551,178
Xcel Energy, Inc.	36,404	1,944,338
		19,227,217
Electrical Equipment — 1.7%
Acuity Brands, Inc.	28,961	6,992,344
Atkore, Inc.	23,579	3,181,514
Generac Holdings, Inc.(1)	54,585	7,217,229
Hubbell, Inc.	33,436	12,220,189
nVent Electric PLC	48,169	3,690,227
		33,301,503
Energy Equipment and Services — 0.9%
Halliburton Co.	313,704	10,596,921
Schlumberger NV	151,576	7,151,356
		17,748,277
Entertainment — 0.9%
Electronic Arts, Inc.	132,982	18,528,382
Financial Services — 3.2%
Affirm Holdings, Inc.(1)	32,479	981,190
Berkshire Hathaway, Inc., Class B(1)	115,716	47,073,269


	Shares	Value
Corpay, Inc.(1)	6,101	$	1,625,367
Euronet Worldwide, Inc.(1)	5,416	560,556
Global Payments, Inc.	129,951	12,566,262
		62,806,644
Food Products — 0.7%
Conagra Brands, Inc.	135,282	3,844,714
Hormel Foods Corp.	49,000	1,494,010
Ingredion, Inc.	57,825	6,632,528
Pilgrim's Pride Corp.(1)	70,692	2,720,935
		14,692,187
Gas Utilities — 0.1%
Atmos Energy Corp.	26,073	3,041,415
Ground Transportation — 1.4%
Uber Technologies, Inc.(1)	372,873	27,100,410
Health Care Equipment and Supplies — 1.9%
Abbott Laboratories	71,781	7,458,764
Align Technology, Inc.(1)	40,948	9,886,076
Dentsply Sirona, Inc.	147,586	3,676,367
Medtronic PLC	154,674	12,174,390
Solventum Corp.(1)	93,903	4,965,591
		38,161,188
Health Care Providers and Services — 3.8%
Centene Corp.(1)	122,399	8,115,054
Cigna Group	29,544	9,766,360
DaVita, Inc.(1)	36,464	5,052,816
Elevance Health, Inc.	34,718	18,812,295
Henry Schein, Inc.(1)	24,566	1,574,681
McKesson Corp.	51,738	30,217,062
Progyny, Inc.(1)	57,653	1,649,452
		75,187,720
Health Care Technology — 0.2%
Veeva Systems, Inc., Class A(1)	19,408	3,551,858
Hotel & Resort REITs — 0.6%
Host Hotels & Resorts, Inc.	614,786	11,053,852
Hotels, Restaurants and Leisure — 0.6%
Boyd Gaming Corp.	49,328	2,717,973
Darden Restaurants, Inc.	11,545	1,746,989
Expedia Group, Inc.(1)	23,912	3,012,673
Yum! Brands, Inc.	29,264	3,876,310
		11,353,945
Household Durables — 0.3%
Mohawk Industries, Inc.(1)	21,369	2,427,305
PulteGroup, Inc.	38,650	4,255,365
		6,682,670
Household Products — 3.4%
Colgate-Palmolive Co.	363,683	35,291,798
Kimberly-Clark Corp.	19,587	2,706,923
Procter & Gamble Co.	178,866	29,498,581
		67,497,302
Independent Power and Renewable Electricity Producers — 0.7%
Vistra Corp.	172,598	14,839,976
Industrial REITs — 0.2%
Prologis, Inc.	34,139	3,834,151
Insurance — 4.4%
CNA Financial Corp.	113,741	5,240,048


	Shares	Value
Everest Group Ltd.	38,078	$	14,508,479
Hartford Financial Services Group, Inc.	158,094	15,894,771
Marsh & McLennan Cos., Inc.	86,034	18,129,084
Progressive Corp.	36,032	7,484,207
Travelers Cos., Inc.	68,035	13,834,237
W R Berkley Corp.	167,300	13,146,434
		88,237,260
Interactive Media and Services — 0.1%
TripAdvisor, Inc.(1)	95,727	1,704,898
IT Services — 1.9%
Accenture PLC, Class A	21,455	6,509,662
Amdocs Ltd.	21,001	1,657,399
ASGN, Inc.(1)	21,442	1,890,541
Cognizant Technology Solutions Corp., Class A	243,140	16,533,520
International Business Machines Corp.	50,011	8,649,402
VeriSign, Inc.(1)	11,577	2,058,391
		37,298,915
Leisure Products — 0.2%
Mattel, Inc.(1)	241,106	3,920,384
Life Sciences Tools and Services — 0.7%
Danaher Corp.	28,008	6,997,799
Thermo Fisher Scientific, Inc.	12,134	6,710,102
		13,707,901
Machinery — 4.8%
Caterpillar, Inc.	84,566	28,168,935
Cummins, Inc.	115,328	31,937,783
Donaldson Co., Inc.	50,716	3,629,237
Oshkosh Corp.	10,846	1,173,537
Parker-Hannifin Corp.	36,272	18,346,740
Snap-on, Inc.	31,789	8,309,327
Timken Co.	50,189	4,021,644
		95,587,203
Media — 1.6%
Comcast Corp., Class A	696,519	27,275,684
Interpublic Group of Cos., Inc.	138,010	4,014,711
		31,290,395
Metals and Mining — 0.2%
Nucor Corp.	28,694	4,535,948
Multi-Utilities — 1.0%
Consolidated Edison, Inc.	111,519	9,972,029
WEC Energy Group, Inc.	132,568	10,401,285
		20,373,314
Oil, Gas and Consumable Fuels — 8.0%
APA Corp.	85,062	2,504,225
ConocoPhillips	243,416	27,841,922
Devon Energy Corp.	437,552	20,739,965
EOG Resources, Inc.	59,059	7,433,756
Exxon Mobil Corp.	499,110	57,457,543
Marathon Oil Corp.	349,937	10,032,694
Marathon Petroleum Corp.	47,964	8,320,795
Occidental Petroleum Corp.	382,693	24,121,140
		158,452,040
Personal Care Products — 0.3%
Kenvue, Inc.	367,556	6,682,168


	Shares	Value
Pharmaceuticals — 4.7%
Bristol-Myers Squibb Co.	510,920	$	21,218,508
Johnson & Johnson	264,828	38,707,260
Merck & Co., Inc.	264,226	32,711,179
		92,636,947
Professional Services — 1.5%
CACI International, Inc., Class A(1)	18,752	8,065,798
Leidos Holdings, Inc.	120,615	17,595,316
Parsons Corp.(1)	14,538	1,189,354
Paycom Software, Inc.	15,666	2,240,864
		29,091,332
Real Estate Management and Development — 0.1%
Jones Lang LaSalle, Inc.(1)	7,982	1,638,545
Retail REITs — 1.6%
Simon Property Group, Inc.	215,156	32,660,681
Semiconductors and Semiconductor Equipment — 7.3%
Amkor Technology, Inc.	149,521	5,983,830
Broadcom, Inc.	20,001	32,112,206
KLA Corp.	42,540	35,074,655
Marvell Technology, Inc.	214,174	14,970,763
Microchip Technology, Inc.	65,565	5,999,198
NXP Semiconductors NV	72,518	19,513,869
ON Semiconductor Corp.(1)	38,159	2,615,799
QUALCOMM, Inc.	118,393	23,581,518
Skyworks Solutions, Inc.	45,642	4,864,524
		144,716,362
Software — 3.3%
Adobe, Inc.(1)	27,816	15,452,901
AppLovin Corp., Class A(1)	31,417	2,614,523
Aspen Technology, Inc.(1)	5,268	1,046,383
Microsoft Corp.	29,924	13,374,532
Oracle Corp.	33,394	4,715,233
Salesforce, Inc.	34,054	8,755,283
Synopsys, Inc.(1)	32,557	19,373,368
		65,332,223
Specialized REITs — 0.6%
Public Storage	11,206	3,223,406
SBA Communications Corp.	48,412	9,503,276
		12,726,682
Specialty Retail — 1.9%
Bath & Body Works, Inc.	158,634	6,194,658
Gap, Inc.	236,004	5,638,136
Lowe's Cos., Inc.	67,733	14,932,417
Williams-Sonoma, Inc.	37,539	10,599,887
		37,365,098
Technology Hardware, Storage and Peripherals — 0.9%
Hewlett Packard Enterprise Co.	864,250	18,296,173
Textiles, Apparel and Luxury Goods — 1.1%
Columbia Sportswear Co.	31,432	2,485,643
NIKE, Inc., Class B	90,096	6,790,535
Ralph Lauren Corp.	40,569	7,102,009
Skechers USA, Inc., Class A(1)	78,000	5,391,360
		21,769,547
Trading Companies and Distributors — 2.2%
Beacon Roofing Supply, Inc.(1)	74,625	6,753,562


	Shares	Value
Core & Main, Inc., Class A(1)	96,918	$	4,743,167
Ferguson PLC	97,274	18,837,110
GMS, Inc.(1)	26,416	2,129,394
MSC Industrial Direct Co., Inc., Class A	30,905	2,451,076
Watsco, Inc.	4,510	2,089,212
WESCO International, Inc.	37,238	5,902,968
		42,906,489
TOTAL COMMON STOCKS (Cost $1,621,079,527)		1,977,984,375
SHORT-TERM INVESTMENTS — 0.6%
Money Market Funds — 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class	57,126	57,126
Repurchase Agreements — 0.6%
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.00%, 8/15/25, valued at $757,150), in a joint trading account at 5.29%, dated 6/28/24, due 7/1/24 (Delivery value $742,049)		741,722
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.50%, 11/15/33, valued at $8,108,177), at 5.30%, dated 6/28/24, due 7/1/24 (Delivery value $7,952,511)		7,949,000
TD Securities (USA) LLC, (collateralized by various U.S. Treasury obligations, 1.125% - 4.50%, 12/31/24 - 5/31/29, valued at $3,030,798), at 5.29%, dated 6/28/24, due 7/1/24 (Delivery value $2,971,309)		2,970,000
		11,660,722
TOTAL SHORT-TERM INVESTMENTS (Cost $11,717,848)		11,717,848
TOTAL INVESTMENT SECURITIES — 100.0% (Cost $1,632,797,375)		1,989,702,223
OTHER ASSETS AND LIABILITIES — 0.0%		219,231
TOTAL NET ASSETS — 100.0%		$	1,989,921,454


NOTES TO SCHEDULE OF INVESTMENTS

(1)Non-income producing.

See Notes to Financial Statements.


Statement of Assets and Liabilities


JUNE 30, 2024
Assets
Investment securities, at value (cost of $1,632,797,375)	$	1,989,702,223
Receivable for capital shares sold	344,703
Dividends and interest receivable	1,919,714
	1,991,966,640

Liabilities
Payable for capital shares redeemed	980,349
Accrued management fees	1,024,320
Distribution and service fees payable	40,517
	2,045,186

Net Assets	$	1,989,921,454

Net Assets Consist of:
Capital (par value and paid-in surplus)	$	1,757,307,036
Distributable earnings (loss)	232,614,418
	$	1,989,921,454


	Net Assets	Shares Outstanding	Net Asset Value Per Share*
Investor Class, $0.01 Par Value	$1,591,425,706	45,615,248	$34.89
I Class, $0.01 Par Value	$192,481,207	5,503,296	$34.98
A Class, $0.01 Par Value	$154,014,965	4,426,425	$34.79
C Class, $0.01 Par Value	$4,426,710	127,683	$34.67
R Class, $0.01 Par Value	$12,606,468	361,613	$34.86
R5 Class, $0.01 Par Value	$34,966,398	999,274	$34.99

*Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class, for which the maximum offering price per share was $36.91 (net asset value divided by 0.9425). A contingent deferred sales charge may be imposed on redemptions of A Class and C Class.

See Notes to Financial Statements.


Statement of Operations


YEAR ENDED JUNE 30, 2024
Investment Income (Loss)
Income:
Dividends (net of foreign taxes withheld of $32,746)	$	42,853,694
Interest	537,380
	43,391,074

Expenses:
Management fees	12,593,485
Distribution and service fees:
A Class	398,253
C Class	50,809
R Class	68,369
Directors' fees and expenses	147,069
Other expenses	36,997
	13,294,982



Net investment income (loss)	30,096,092

Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment transactions	123,736,258
Futures contract transactions	343,027
	124,079,285

Change in net unrealized appreciation (depreciation) on:
Investments	117,377,048
Translation of assets and liabilities in foreign currencies	(4,804)
	117,372,244

Net realized and unrealized gain (loss)	241,451,529

Net Increase (Decrease) in Net Assets Resulting from Operations	$	271,547,621

See Notes to Financial Statements.


Statement of Changes in Net Assets


YEARS ENDED JUNE 30, 2024 AND JUNE 30, 2023
Increase (Decrease) in Net Assets	June 30, 2024		June 30, 2023
Operations
Net investment income (loss)	$	30,096,092	$	43,983,078
Net realized gain (loss)	124,079,285		(185,438,305)
Change in net unrealized appreciation (depreciation)	117,372,244		241,069,311
Net increase (decrease) in net assets resulting from operations	271,547,621		99,614,084

Distributions to Shareholders
From earnings:
Investor Class	(24,810,893)		(29,718,696)
I Class	(3,703,645)		(7,906,866)
A Class	(2,125,672)		(2,599,248)
C Class	(29,992)		(60,405)
R Class	(150,608)		(201,207)
R5 Class	(712,572)		(995,965)
Decrease in net assets from distributions	(31,533,382)		(41,482,387)

Capital Share Transactions
Net increase (decrease) in net assets from capital share transactions (Note 5)	(403,218,097)		(356,844,216)

Net increase (decrease) in net assets	(163,203,858)		(298,712,519)

Net Assets
Beginning of period	2,153,125,312		2,451,837,831
End of period	$	1,989,921,454	$	2,153,125,312

See Notes to Financial Statements.


Notes to Financial Statements

JUNE 30, 2024

1. Organization

American Century Quantitative Equity Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Maryland corporation. Disciplined Core Value Fund (the fund) is one fund in a series issued by the corporation. The fund’s investment objective is to seek long-term capital growth by investing in common stocks. Income is a secondary objective.

2. Significant Accounting Policies

The following is a summary of significant accounting policies consistently followed by the fund in preparation of its financial statements. The fund is an investment company and follows accounting and reporting guidance in accordance with accounting principles generally accepted in the United States of America. This may require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from these estimates. Management evaluated the impact of events or transactions occurring through the date the financial statements were issued that would merit recognition or disclosure.

Investment Valuations — The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Directors oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Open-end management investment companies are valued at the reported NAV per share. Repurchase agreements are valued at cost, which approximates fair value. Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause the fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

Foreign Currency Translations — All assets and liabilities, including investment securities and other financial instruments, initially expressed in foreign currencies are translated into U.S. dollars each day at the mean of the appropriate currency exchange rate at the close of the NYSE as provided by an independent pricing service. The fund may enter into spot foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of investment securities, dividend and interest income, spot foreign currency exchange contracts, and expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Net realized and unrealized foreign currency exchange gains or losses related to investment securities are a component of net realized gain (loss) on investment transactions and change in net unrealized appreciation (depreciation) on investments, respectively.

Security Transactions — Security transactions are accounted for as of the trade date. Net realized gains and losses are determined on the identified cost basis, which is also used for federal income tax purposes.

Investment Income — Dividend income less foreign taxes withheld, if any, is recorded as of the ex-dividend date. Distributions received on securities that represent a return of capital or long-term capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The fund may estimate the components of distributions received that may be considered nontaxable distributions or long-term capital gain distributions for income tax purposes. Interest income is recorded on the accrual basis and includes accretion of discounts and amortization of premiums.

Repurchase Agreements — The fund may enter into repurchase agreements with institutions that ACIM has determined are creditworthy pursuant to criteria adopted by the Board of Directors. The fund requires that the collateral, represented by securities, received in a repurchase transaction be transferred to the custodian in a manner sufficient to enable the fund to obtain those securities in the event of a default under the repurchase agreement. ACIM monitors, on a daily basis, the securities transferred to ensure the value, including accrued interest, of the securities under each repurchase agreement is equal to or greater than amounts owed to the fund under each repurchase agreement.

Joint Trading Account — Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the fund, along with certain other funds in the American Century Investments family of funds, may transfer uninvested cash balances into a joint trading account. These balances are invested in one or more repurchase agreements that are collateralized by U.S. Treasury or Agency obligations.

Income Tax Status — It is the fund's policy to distribute substantially all net investment income and net realized gains to shareholders and to otherwise qualify as a regulated investment company under provisions of the Internal Revenue Code. Accordingly, no provision has been made for income taxes. The fund files U.S. federal, state, local and non-U.S. tax returns as applicable. The fund's tax returns are subject to examination by the relevant taxing authority until expiration of the applicable statute of limitations, which is generally three years from the date of filing but can be longer in certain jurisdictions. At this time, management believes there are no uncertain tax positions which, based on their technical merit, would not be sustained upon examination and for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.

Multiple Class — All shares of the fund represent an equal pro rata interest in the net assets of the class to which such shares belong, and have identical voting, dividend, liquidation and other rights and the same terms and conditions, except for class specific expenses and exclusive rights to vote on matters affecting only individual classes. Income, non-class specific expenses, and realized and unrealized capital gains and losses of the fund are allocated to each class of shares based on their relative net assets.

Distributions to Shareholders — Distributions from net investment income, if any, are generally declared and paid quarterly. Distributions from net realized gains, if any, are generally declared and paid annually.

Indemnifications — Under the corporation’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the fund. In addition, in the normal course of business, the fund enters into contracts that provide general indemnifications. The maximum exposure under these arrangements is unknown as this would involve future claims that may be made against a fund. The risk of material loss from such claims is considered by management to be remote.

3. Fees and Transactions with Related Parties

Certain officers and directors of the corporation are also officers and/or directors of American Century Companies, Inc. (ACC). The corporation's investment advisor, ACIM, the corporation's distributor, American Century Investment Services, Inc. (ACIS), and the corporation's transfer agent, American Century Services, LLC, are wholly owned, directly or indirectly, by ACC.

Management Fees — The corporation has entered into a management agreement with ACIM, under which ACIM provides the fund with investment advisory and management services in exchange for a single, unified management fee (the fee) per class. The agreement provides that ACIM will pay all expenses of managing and operating the fund, except brokerage expenses, taxes, interest, fees and expenses of the independent directors (including legal counsel fees), extraordinary expenses, and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Rule 12b-1 under the 1940 Act. The fee is computed and accrued daily based on each class’s daily net assets and paid monthly in arrears. The difference in the fee among the classes is a result of their separate arrangements for non-Rule 12b-1 shareholder services. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the fund's assets, which do not vary by class. The fee consists of (1) an Investment Category Fee based on the daily net assets of the fund and certain other accounts managed by the investment advisor that are in the same broad investment category as the fund and (2) a Complex Fee based on the assets of all funds in the American Century Investments family of funds that have the same investment advisor and distributor as the fund. For purposes of determining the Investment Category Fee and Complex Fee, the assets of funds managed by the investment advisor that invest exclusively in the shares of other funds (funds of funds) are not included.

The Investment Category Fee range, the Complex Fee range and the effective annual management fee for each class for the period ended June 30, 2024 are as follows:


	Investment Category Fee Range	Complex Fee Range	Effective Annual Management Fee
Investor Class	0.3380% to 0.5200%	0.2500% to 0.3100%	0.65%
I Class		0.0500% to 0.1100%	0.45%
A Class		0.2500% to 0.3100%	0.65%
C Class		0.2500% to 0.3100%	0.65%
R Class		0.2500% to 0.3100%	0.65%
R5 Class		0.0500% to 0.1100%	0.45%

Distribution and Service Fees — The Board of Directors has adopted a separate Master Distribution and Individual Shareholder Services Plan for each of the A Class, C Class and R Class (collectively the plans), pursuant to Rule 12b-1 of the 1940 Act. The plans provide that the A Class will pay ACIS an annual distribution and service fee of 0.25%. The plans provide that the C Class will pay ACIS an annual distribution and service fee of 1.00%, of which 0.25% is paid for individual shareholder services and 0.75% is paid for distribution services. The plans provide that the R Class will pay ACIS an annual distribution and service fee of 0.50%. The fees are computed and accrued daily based on each class’s daily net assets and paid monthly in arrears. The fees are used to pay financial intermediaries for distribution and individual shareholder services. Fees incurred under the plans during the period ended June 30, 2024 are detailed in the Statement of Operations.

Directors' Fees and Expenses — The Board of Directors is responsible for overseeing the investment advisor’s management and operations of the fund. The directors receive detailed information about the fund and its investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The fund's officers do not receive compensation from the fund.

Other Expenses — A fund’s other expenses may include interest charges, clearing exchange fees, proxy solicitation expenses, fees associated with the recovery of foreign tax reclaims and other miscellaneous expenses.

Interfund Transactions — The fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Directors. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. During the period, the interfund sales were $7,664,079 and there were no interfund purchases. The effect of interfund transactions on the Statement of Operations was $1,545,998 in net realized gain (loss) on investment transactions.

4. Investment Transactions

Purchases and sales of investment securities, excluding short-term investments, for the period ended June 30, 2024 were $1,341,090,801 and $1,742,769,907, respectively.

5. Capital Share Transactions

Transactions in shares of the fund were as follows:


	Year ended June 30, 2024			Year ended June 30, 2023
	Shares	Amount		Shares	Amount
Investor Class/Shares Authorized	700,000,000			700,000,000
Sold	1,198,892	$	39,180,065	2,177,888	$	66,707,663
Issued in reinvestment of distributions	717,682	23,626,223		931,606	28,163,136
Redeemed	(8,283,708)	(267,528,829)		(8,884,091)	(270,666,480)
	(6,367,134)	(204,722,541)		(5,774,597)	(175,795,681)
I Class/Shares Authorized	210,000,000			210,000,000
Sold	900,539	29,499,964		1,837,662	56,513,025
Issued in reinvestment of distributions	107,335	3,532,548		252,368	7,642,308
Redeemed	(5,501,863)	(174,476,600)		(7,557,068)	(230,747,800)
	(4,493,989)	(141,444,088)		(5,467,038)	(166,592,467)
A Class/Shares Authorized	50,000,000			50,000,000
Sold	548,408	17,641,789		735,867	22,479,252
Issued in reinvestment of distributions	57,411	1,880,758		75,089	2,266,393
Redeemed	(1,534,009)	(49,823,253)		(1,178,420)	(35,713,525)
	(928,190)	(30,300,706)		(367,464)	(10,967,880)
C Class/Shares Authorized	20,000,000			20,000,000
Sold	4,522	149,047		20,645	628,759
Issued in reinvestment of distributions	865	27,677		1,805	54,560
Redeemed	(69,559)	(2,234,449)		(113,045)	(3,420,157)
	(64,172)	(2,057,725)		(90,595)	(2,736,838)
R Class/Shares Authorized	20,000,000			20,000,000
Sold	89,554	2,925,028		114,097	3,495,582
Issued in reinvestment of distributions	4,543	148,024		6,348	192,141
Redeemed	(232,647)	(7,319,070)		(127,413)	(3,878,970)
	(138,550)	(4,246,018)		(6,968)	(191,247)
R5 Class/Shares Authorized	40,000,000			40,000,000
Sold	154,347	5,051,102		296,817	9,053,869
Issued in reinvestment of distributions	20,476	674,960		31,594	957,428
Redeemed	(804,527)	(26,173,081)		(345,029)	(10,571,400)
	(629,704)	(20,447,019)		(16,618)	(560,103)
Net increase (decrease)	(12,621,739)	$	(403,218,097)	(11,723,280)	$	(356,844,216)

6. 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
Common Stocks	$	1,977,984,375	—		—
Short-Term Investments	57,126		$	11,660,722	—
	$	1,978,041,501	$	11,660,722	—

7. Derivative Instruments

Equity Price Risk — The fund is subject to equity price risk in the normal course of pursuing its investment objectives. A fund may enter into futures contracts based on an equity index in order to manage its exposure to changes in market conditions. A fund may purchase futures contracts to gain exposure to increases in market value or sell futures contracts to protect against a decline in market value. Upon entering into a futures contract, a fund is required to deposit either cash or securities in an amount equal to a certain percentage of the contract value (initial margin). A fund may incur charges or earn income on cash deposit balances, which are reflected in interest expenses or interest income, respectively. Subsequent payments (variation margin) are made or received daily, in cash, by a fund. The variation margin is equal to the daily change in the contract value and is recorded as unrealized gains and losses. A fund recognizes a realized gain or loss when the contract is closed or expires. Net realized and unrealized gains or losses occurring during the holding period of futures contracts are a component of net realized gain (loss) on futures contract transactions and change in net unrealized appreciation (depreciation) on futures contracts, respectively. One of the risks of entering into futures contracts is the possibility that the change in value of the contract may not correlate with the changes in value of the underlying securities. During the period, the fund participated in equity price risk derivative instruments for temporary investment purposes.

At period end, the fund did not have any derivative instruments disclosed on the Statement of Assets and Liabilities. For the year ended June 30, 2024, the effect of equity price risk derivative instruments on the Statement of Operations was $343,027 in net realized gain (loss) on futures contract transactions.

8. Risk Factors

The value of the fund’s shares will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the fund and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of the fund’s investments. Natural disasters, public health emergencies, war, terrorism and other unforeseeable events may lead to increased market volatility and may have adverse long-term effects on world economies and markets generally.

9. Federal Tax Information

The tax character of distributions paid during the years ended June 30, 2024 and June 30, 2023 were as follows:


	2024		2023
Distributions Paid From
Ordinary income	$	31,533,382	$	41,482,387
Long-term capital gains	—		—

The book-basis character of distributions made during the year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements.

As of period end, the federal tax cost of investments and the components of distributable earnings on a tax-basis were as follows:


Federal tax cost of investments	$	1,637,626,219
Gross tax appreciation of investments	$	406,604,886
Gross tax depreciation of investments	(54,528,882)
Net tax appreciation (depreciation) of investments	352,076,004
Net tax appreciation (depreciation) of translation of assets and liabilities in foreign currencies	(268)
Net tax appreciation (depreciation)	$	352,075,736
Undistributed ordinary income	$	1,758,261
Accumulated short-term capital losses	$	(121,219,579)

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.

Accumulated capital losses represent net capital loss carryovers that may be used to offset future realized capital gains for federal income tax purposes. The capital loss carryovers may be carried forward for an unlimited period. Future capital loss carryover utilization in any given year may be subject to Internal Revenue Code limitations.


Financial Highlights


For a Share Outstanding Throughout the Years Ended June 30 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations*:			Distributions From:					Ratio to Average Net Assets of†:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)(1)	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return(2)	Operating Expenses	Net Investment Income (Loss)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
Investor Class
2024	$30.91	0.49	4.01	4.50	(0.52)	—	(0.52)	$34.89	14.70%	0.66%	1.49%	67%	$1,591,426
2023	$30.12	0.57	0.76	1.33	(0.54)	—	(0.54)	$30.91	4.45%	0.66%	1.86%	179%	$1,606,519
2022	$43.20	0.50	(3.51)	(3.01)	(0.50)	(9.57)	(10.07)	$30.12	(9.84)%	0.65%	1.31%	234%	$1,739,617
2021	$35.99	0.58	12.52	13.10	(0.58)	(5.31)	(5.89)	$43.20	39.42%	0.66%	1.44%	240%	$2,076,714
2020	$36.82	0.76	(0.07)	0.69	(0.77)	(0.75)	(1.52)	$35.99	1.70%	0.67%	2.08%	100%	$1,588,537
I Class
2024	$30.98	0.55	4.03	4.58	(0.58)	—	(0.58)	$34.98	14.92%	0.46%	1.69%	67%	$192,481
2023	$30.19	0.64	0.75	1.39	(0.60)	—	(0.60)	$30.98	4.68%	0.46%	2.06%	179%	$309,724
2022	$43.28	0.58	(3.53)	(2.95)	(0.57)	(9.57)	(10.14)	$30.19	(9.67)%	0.45%	1.51%	234%	$466,890
2021	$36.05	0.65	12.55	13.20	(0.66)	(5.31)	(5.97)	$43.28	39.70%	0.46%	1.64%	240%	$584,160
2020	$36.88	0.83	(0.07)	0.76	(0.84)	(0.75)	(1.59)	$36.05	1.90%	0.47%	2.28%	100%	$272,307
A Class
2024	$30.82	0.40	4.01	4.41	(0.44)	—	(0.44)	$34.79	14.39%	0.91%	1.24%	67%	$154,015
2023	$30.04	0.49	0.76	1.25	(0.47)	—	(0.47)	$30.82	4.20%	0.91%	1.61%	179%	$165,051
2022	$43.11	0.40	(3.50)	(3.10)	(0.40)	(9.57)	(9.97)	$30.04	(10.07)%	0.90%	1.06%	234%	$171,905
2021	$35.93	0.48	12.49	12.97	(0.48)	(5.31)	(5.79)	$43.11	39.04%	0.91%	1.19%	240%	$180,616
2020	$36.76	0.67	(0.07)	0.60	(0.68)	(0.75)	(1.43)	$35.93	1.46%	0.92%	1.83%	100%	$130,398
C Class
2024	$30.71	0.16	3.99	4.15	(0.19)	—	(0.19)	$34.67	13.55%	1.66%	0.49%	67%	$4,427
2023	$29.93	0.26	0.76	1.02	(0.24)	—	(0.24)	$30.71	3.43%	1.66%	0.86%	179%	$5,892
2022	$43.00	0.10	(3.48)	(3.38)	(0.12)	(9.57)	(9.69)	$29.93	(10.76)%	1.65%	0.31%	234%	$8,455
2021	$35.84	0.17	12.48	12.65	(0.18)	(5.31)	(5.49)	$43.00	38.05%	1.66%	0.44%	240%	$12,987
2020	$36.68	0.39	(0.08)	0.31	(0.40)	(0.75)	(1.15)	$35.84	0.68%	1.67%	1.08%	100%	$7,452
R Class
2024	$30.88	0.32	4.01	4.33	(0.35)	—	(0.35)	$34.86	14.11%	1.16%	0.99%	67%	$12,606
2023	$30.10	0.41	0.76	1.17	(0.39)	—	(0.39)	$30.88	3.93%	1.16%	1.36%	179%	$15,447
2022	$43.18	0.31	(3.51)	(3.20)	(0.31)	(9.57)	(9.88)	$30.10	(10.30)%	1.15%	0.81%	234%	$15,265
2021	$35.97	0.38	12.51	12.89	(0.37)	(5.31)	(5.68)	$43.18	38.73%	1.16%	0.94%	240%	$18,245
2020	$36.81	0.58	(0.09)	0.49	(0.58)	(0.75)	(1.33)	$35.97	1.18%	1.17%	1.58%	100%	$14,218


For a Share Outstanding Throughout the Years Ended June 30 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations*:			Distributions From:					Ratio to Average Net Assets of†:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)(1)	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return(2)	Operating Expenses	Net Investment Income (Loss)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
R5 Class
2024	$31.00	0.56	4.01	4.57	(0.58)	—	(0.58)	$34.99	14.91%	0.46%	1.69%	67%	$34,966
2023	$30.21	0.63	0.76	1.39	(0.60)	—	(0.60)	$31.00	4.64%	0.46%	2.06%	179%	$50,491
2022	$43.29	0.58	(3.52)	(2.94)	(0.57)	(9.57)	(10.14)	$30.21	(9.64)%	0.45%	1.51%	234%	$49,707
2021	$36.06	0.63	12.57	13.20	(0.66)	(5.31)	(5.97)	$43.29	39.68%	0.46%	1.64%	240%	$38,493
2020	$36.89	0.83	(0.07)	0.76	(0.84)	(0.75)	(1.59)	$36.06	1.90%	0.47%	2.28%	100%	$16,388


Notes to Financial Highlights

(1)Computed using average shares outstanding throughout the period.

(2)Total returns are calculated based on the net asset value of the last business day and do not reflect applicable sales charges, if any. Total returns for periods less than one year are not annualized.

*The amount shown for a share outstanding throughout the period may not correlate with the Statement(s) of Operations or precisely reflect the class expense differentials due to the timing of transactions in shares of a fund in relation to income earned and/or fluctuations in the fair value of a fund's investments.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.


Report of Independent Registered Public Accounting Firm

To the shareholders of the Disciplined Core Value Fund and the Board of Directors of American Century Quantitative Equity Funds, Inc.:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Disciplined Core Value Fund (the “Fund”), one of the funds constituting the American Century Quantitative Equity Funds, Inc., as of June 30, 2024, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the three years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of June 30, 2024, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the three years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. The financial highlights for each of the two years in the period ended June 30, 2021, were audited by other auditors, whose report, dated August 17, 2021, expressed an unqualified opinion on such financial highlights.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of June 30, 2024, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Kansas City, Missouri

August 16, 2024

We have served as the auditor of one or more American Century investment companies since 1997.


Approval of Management Agreement

At a meeting held on June 13, 2024, the Fund’s Board of Directors (the “Board”) unanimously approved the renewal of the management agreement pursuant to which American Century Investment Management, Inc. (the “Advisor”) acts as the investment advisor for the Fund. Under the Investment Company Act of 1940 (the “Investment Company Act”), contracts for investment advisory services are required to be reviewed, evaluated, and approved by a majority of a fund’s Directors, including a majority of the independent Directors. The Board regards this annual evaluation and renewal as one of its most important responsibilities.

The independent Directors have memorialized a statement regarding the relationship between their ongoing obligations to oversee and evaluate the performance of the Advisor and their annual consideration of renewal of the management agreement. In that statement, the independent Directors noted that their assessment of the Advisor’s performance is an ongoing process that takes place over the entire year and is informed by all of the extensive information that the Board and its committees receive and consider over time. This information, together with the additional materials provided specifically in connection with the review, are central to the Board’s assessment of the Advisor’s performance and its determination whether to renew the Fund’s management agreement.

Prior to its consideration of the renewal of the management agreement, the Board requested and reviewed data and analysis relating to the proposed renewal. This information and analysis was compiled by the Advisor and certain independent data providers concerning the Fund.

In connection with its consideration of the renewal of the management agreement, the Board’s review and evaluation of the services provided by the Advisor and its affiliates included, but was not limited to

•the nature, extent, and quality of investment management, shareholder services, distribution services, and other services provided to the Fund;

•the wide range of programs and services the Advisor and other service providers provide to the Fund and its shareholders on a routine and non-routine basis;

•the Fund’s investment performance compared to appropriate benchmarks and/or peer groups of other mutual funds with similar investment objectives and strategies;

•the cost of owning the Fund compared to the cost of owning similarly-managed funds;

•the Advisor’s compliance policies, procedures, and regulatory experience and those of certain other service providers;

•the Advisor’s strategic plans, generally, and with respect to the Advisor’s response to investment management industry challenges;

•the Advisor’s business continuity plans, vendor management practices, and information security practices;

•the cost of services provided to the Fund, the profitability of the Fund to the Advisor, and the Advisor’s financial results of operation;

•possible economies of scale associated with the Advisor’s management of the Fund;

•any collateral benefits derived by the Advisor from the management of the Fund;

•fees and expenses associated with any investment by the Fund in other funds;

•payments to intermediaries by the Fund and the Advisor and services provided by intermediaries in connection therewith; and

•services provided and charges to the Advisor’s other investment management clients.

In keeping with its practice, the Board held two meetings and the independent Directors met in private sessions to discuss the renewal and to review and discuss the information provided in response to their request. The Board held active discussions with the Advisor regarding the renewal of the management agreement. The independent Directors had the benefit of the advice of their independent counsel throughout the process.

Factors Considered

The Directors considered all of the information provided by the Advisor, the independent data providers, and the independent Directors’ independent counsel in connection with the approval. They determined that the information was sufficient for them to evaluate the management agreement for the Fund. In connection with their review, the Directors did not identify any single factor as being all-important or controlling and each Director may have attributed different levels of importance to different factors. In deciding to renew the management agreement, the Board based its decision on a number of factors, including the following:

Nature, Extent and Quality of Services — Generally. Under the management agreement, the Advisor is responsible for providing or arranging for all services necessary for the operation of the Fund. The Board noted that the Advisor provides or arranges at its own expense a wide variety of services including, but not limited to:

•constructing and designing the Fund

•portfolio research and security selection

•initial capitalization/funding

•securities trading

•Fund administration

•custody of Fund assets

•daily valuation of the Fund’s portfolio

•liquidity monitoring and management

•risk management, including information security

•shareholder servicing and transfer agency, including shareholder confirmations, recordkeeping, and communications

•legal services (except the independent Directors’ counsel)

•regulatory and portfolio compliance

•financial reporting

•marketing and distribution (except amounts paid by the Fund under Rule 12b-1 plans)

The Board noted that many of these services have expanded over time in terms of both quantity and complexity in response to shareholder demands, competition in the industry, changing distribution channels, and the changing regulatory environment.

Investment Management Services. The nature of the investment management services provided to the Fund is quite complex and allows Fund shareholders access to professional money management, instant diversification of their investments, the opportunity to easily diversify among asset classes by investing in or exchanging among various American Century Investments funds, and liquidity. In evaluating investment performance, the Board expects the Advisor to manage the Fund in accordance with its investment objectives and principal investment strategies. Further, the Directors recognize that the Advisor has an obligation to seek the best execution of fund trades. In providing these services, the Advisor utilizes teams of investment professionals who require extensive information technology, research, training, compliance, and other systems to conduct their business. The Board, directly and through its Portfolio Committee, regularly reviews investment performance information for the Fund, together with comparative information for appropriate benchmarks and/or peer groups of similarly-managed funds, over different time horizons. The Directors also review investment performance information during the management agreement renewal process. If performance concerns are identified, the Fund receives special reviews until performance improves, during which the Board discusses with the Advisor the reasons for such results and any actions being taken to improve performance. The Fund’s performance was below its benchmark for the one-, three-, five-, and ten-year periods reviewed by the Board. The Board discussed the Fund’s performance with the Advisor and was satisfied with the efforts being undertaken by the Advisor. The Board found the investment management services provided by the Advisor to the Fund to be satisfactory and consistent with the management agreement.

Shareholder and Other Services. Under the management agreement, the Advisor, either directly or through affiliates or third parties, provides the Fund with a comprehensive package of transfer agency, shareholder, and other services. The Board, directly and through its various committees, regularly reviews reports and evaluations of such services at its regular meetings. These reports include, but are not limited to, information regarding the operational efficiency and accuracy of the shareholder and transfer agency services provided, staffing levels, shareholder satisfaction, technology support (including information security), new products and services offered to Fund shareholders, securities trading activities, portfolio valuation services, risk management, auditing services, and legal and operational compliance activities. The Board found the services provided by the Advisor to the Fund under the management agreement to be competitive and of high quality.

Costs of Services and Profitability. The Advisor provides detailed information concerning its cost of providing various services to the Fund, its profitability in managing the Fund, and its financial results of operation. The Directors have reviewed with the Advisor the methodology used to prepare this financial information. This information is considered in evaluating the Advisor’s financial condition, its ability to continue to provide services under the management agreement, and the reasonableness of the terms of the current management agreement. The Board concluded that the Advisor’s profits were reasonable in light of the services provided to the Fund.

Ethics. The Board generally considers the Advisor’s commitment to providing quality services to shareholders and to conducting its business ethically. They noted that the Advisor’s practices generally meet or exceed industry best practices.

Economies of Scale. The Board also reviewed information provided by the Advisor regarding the possible existence of economies of scale in connection with the management of the Fund. The Board concluded that economies of scale are difficult to measure and predict with precision, especially on a fund-by-fund basis. The Board concluded that the Advisor is appropriately sharing economies of scale, to the extent they exist, through its fee structure and through reinvestment in its business, infrastructure, investment capabilities and initiatives to provide shareholders enhanced and expanded services.

Comparison to Other Funds’ Fees. The management agreement provides that the Fund pays the Advisor a single, all-inclusive (or unified) management fee for providing all services necessary for the management and operation of the Fund, other than brokerage and other transaction fees and expenses relating to acquisition and disposition of portfolio securities, acquired fund fees and expenses, taxes, interest, extraordinary expenses, fund litigation expenses, fees and expenses of the Fund’s independent Directors (including their independent legal counsel), and expenses incurred in connection with the provision of shareholder services and distribution services under a plan adopted pursuant to Investment Company Act Rule 12b-1. Under this unified fee structure, the Advisor is responsible for providing investment advisory, custody, audit, administrative, compliance, recordkeeping, marketing, and shareholder services, or arranging and supervising third parties to provide such services. By contrast, most other funds are charged a variety of fees, including an investment advisory fee, a transfer agency fee, an

administrative fee, and other expenses. Other than their investment advisory fees and any applicable Rule 12b-1 distribution fees, all other components of the total fees charged by these other funds may be increased without shareholder approval. The Board believes the unified fee structure is a benefit to Fund shareholders because it clearly discloses to shareholders the cost of owning Fund shares, and, since the unified fee cannot be increased without a vote of Fund shareholders, it shifts to the Advisor the risk of increased costs of operating the Fund and provides a direct incentive to minimize administrative inefficiencies. Part of the Board’s analysis of fee levels involves reviewing certain evaluative data compiled by an independent provider comparing the Fund’s unified fee to the total expense ratio of peer funds. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund’s peer expense group. The Board concluded that the management fee paid by the Fund to the Advisor under the management agreement is reasonable in light of the services provided to the Fund.

Comparison to Fees and Services Provided to Other Clients of the Advisor. The Board also requested and received information from the Advisor concerning the nature of the services, fees, costs, and profitability of its advisory services to advisory clients other than the Fund. They observed that these varying types of client accounts require different services and involve different regulatory and entrepreneurial risks than the management of the Fund. The Board analyzed this information and concluded that the fees charged and services provided to the Fund were reasonable by comparison.

Payments to Intermediaries. The Directors also requested and received a description of payments made to intermediaries by the Fund and the Advisor and services provided by intermediaries. These payments include various payments made by the Fund or the Advisor to different types of intermediaries and recordkeepers for distribution and service activities provided with respect to the Fund. The Directors reviewed such information and received representations from the Advisor that all such payments by the Fund were made pursuant to the Fund’s Rule 12b-1 Plan and that all such payments by the Advisor were made from the Advisor’s resources and reasonable profits.

Collateral or “Fall-Out” Benefits Derived by the Advisor. The Board considered the possible existence of collateral benefits the Advisor may receive as a result of its relationship with the Fund. The Board noted that the Advisor’s primary business is managing funds and it generally does not use fund or shareholder information to generate profits in other lines of business, and therefore does not derive any significant collateral benefits from them. The Board noted that the Advisor may receive proprietary research from broker-dealers that execute fund portfolio transactions. The Board also determined that the Advisor is able to provide investment management services to certain clients other than the Fund, at least in part, due to its existing infrastructure built to serve the fund complex. The Board also noted that the assets of those other accounts are, where applicable, included with the assets of the Fund to determine breakpoints in the management fee schedule.

Existing Relationship. The Board also considered whether there was any reason for not continuing the existing arrangement with the Advisor. In this regard, the Board was mindful of the potential disruptions of the Fund’s operations and various risks, uncertainties, and other effects that could occur as a result of a decision not to continue such relationship. In particular, the Board recognized that most shareholders have invested in the Fund on the strength of the Advisor’s industry standing and reputation and in the expectation that the Advisor will have a continuing role in providing advisory services to the Fund.

Conclusion of the Directors. As a result of this process, the Board, including all of the independent Directors, taking into account all of the factors discussed above and the information provided by the Advisor and others in connection with its review and received over time, concluded that the terms of the management agreement are fair and reasonable and that the management fee charged to the Fund is reasonable in light of the services provided and that the management agreement between the Fund and the Advisor should be renewed for an additional one-year period.

Other Tax Information

The following information is provided pursuant to provisions of the Internal Revenue Code.

The fund hereby designates up to the maximum amount allowable as qualified dividend income for the fiscal year ended June 30, 2024.

For corporate taxpayers, the fund hereby designates $31,533,382, or up to the maximum amount allowable, of ordinary income distributions paid during the fiscal year ended June 30, 2024 as qualified for the corporate dividends received deduction.


Contact Us			americancentury.com
Automated Information Line			1-800-345-8765
Investor Services Representative			1-800-345-2021 or 816-531-5575
Banks and Trust Companies, Broker-Dealers, Financial Professionals, Insurance Companies			1-800-345-6488

This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus.

©2024 American Century Proprietary Holdings, Inc. All rights reserved. CL-ANN-92991 2408



			Annual Financial Statements and Other Information

			June 30, 2024

			Disciplined Growth Fund
			Investor Class (ADSIX)
			I Class (ADCIX)
			Y Class (ADCYX)
			A Class (ADCVX)
			C Class (ADCCX)
			R Class (ADRRX)
			R5 Class (ADGGX)


Table of Contents


Schedule of Investments			2
Statement of Assets and Liabilities			6
Statement of Operations			7
Statement of Changes in Net Assets			8
Notes to Financial Statements			9
Financial Highlights			15
Report of Independent Registered Public Accounting Firm			17
Approval of Management Agreement			18

Other Tax Information			21


Schedule of Investments

JUNE 30, 2024


	Shares	Value
COMMON STOCKS — 99.2%
Automobiles — 1.0%
Tesla, Inc.(1)	23,127	$	4,576,371
Biotechnology — 1.9%
Neurocrine Biosciences, Inc.(1)	6,684	920,186
Regeneron Pharmaceuticals, Inc.(1)	280	294,288
Vertex Pharmaceuticals, Inc.(1)	15,022	7,041,112
		8,255,586
Broadline Retail — 5.3%
Amazon.com, Inc.(1)	119,236	23,042,357
Coupang, Inc.(1)	40,623	851,052
		23,893,409
Building Products — 0.5%
AAON, Inc.	3,090	269,572
Advanced Drainage Systems, Inc.	5,157	827,131
Lennox International, Inc.	1,837	982,758
UFP Industries, Inc.	2,146	240,352
		2,319,813
Capital Markets — 0.1%
Blackstone, Inc.	1,972	244,134
Commercial Services and Supplies — 0.1%
MSA Safety, Inc.	2,300	431,687
Communications Equipment — 0.6%
Arista Networks, Inc.(1)	5,105	1,789,200
Motorola Solutions, Inc.	1,994	769,784
		2,558,984
Consumer Staples Distribution & Retail — 2.6%
Costco Wholesale Corp.	9,974	8,477,800
Maplebear, Inc.(1)	12,586	404,514
Performance Food Group Co.(1)	9,664	638,887
Sysco Corp.	29,585	2,112,073
		11,633,274
Electrical Equipment — 0.1%
Rockwell Automation, Inc.	885	243,623
Entertainment — 2.0%
Electronic Arts, Inc.	3,913	545,198
Netflix, Inc.(1)	8,357	5,639,972
Spotify Technology SA(1)	8,364	2,624,540
		8,809,710
Financial Services — 3.4%
Mastercard, Inc., Class A	17,889	7,891,911
Shift4 Payments, Inc., Class A(1)	6,876	504,355
Visa, Inc., Class A	26,315	6,906,898
		15,303,164
Ground Transportation — 1.5%
Saia, Inc.(1)	444	210,585
Uber Technologies, Inc.(1)	91,209	6,629,070
		6,839,655
Health Care Equipment and Supplies — 1.0%
Align Technology, Inc.(1)	4,329	1,045,151
IDEXX Laboratories, Inc.(1)	5,990	2,918,328
Inspire Medical Systems, Inc.(1)	3,145	420,895
		4,384,374


	Shares	Value
Health Care Providers and Services — 0.6%
UnitedHealth Group, Inc.	5,129	$	2,611,994
Health Care Technology — 0.3%
Veeva Systems, Inc., Class A(1)	7,972	1,458,956
Hotels, Restaurants and Leisure — 2.5%
Booking Holdings, Inc.	1,653	6,548,360
Boyd Gaming Corp.	3,799	209,325
Chipotle Mexican Grill, Inc.(1)	9,800	613,970
DoorDash, Inc., Class A(1)	7,476	813,239
Expedia Group, Inc.(1)	7,618	959,792
Starbucks Corp.	28,338	2,206,113
		11,350,799
Household Products — 0.2%
Colgate-Palmolive Co.	10,973	1,064,820
Insurance — 1.1%
Aon PLC, Class A	5,014	1,472,010
Kinsale Capital Group, Inc.	825	317,856
Marsh & McLennan Cos., Inc.	11,710	2,467,531
Progressive Corp.	3,864	802,592
		5,059,989
Interactive Media and Services — 12.6%
Alphabet, Inc., Class A	114,843	20,918,653
Alphabet, Inc., Class C	63,687	11,681,470
Meta Platforms, Inc., Class A	42,020	21,187,324
Pinterest, Inc., Class A(1)	54,246	2,390,621
		56,178,068
IT Services — 0.3%
Accenture PLC, Class A	4,943	1,499,756
Life Sciences Tools and Services — 0.6%
Agilent Technologies, Inc.	7,144	926,077
Mettler-Toledo International, Inc.(1)	1,388	1,939,855
		2,865,932
Machinery — 1.2%
Caterpillar, Inc.	14,258	4,749,340
Donaldson Co., Inc.	5,976	427,642
		5,176,982
Media — 0.3%
Trade Desk, Inc., Class A(1)	13,279	1,296,960
Office REITs — 0.1%
Boston Properties, Inc.	3,941	242,608
Oil, Gas and Consumable Fuels — 0.9%
ConocoPhillips	11,978	1,370,043
Exxon Mobil Corp.	14,818	1,705,848
Occidental Petroleum Corp.	17,623	1,110,778
		4,186,669
Pharmaceuticals — 3.0%
Eli Lilly & Co.	9,318	8,436,331
Merck & Co., Inc.	39,382	4,875,491
		13,311,822
Semiconductors and Semiconductor Equipment — 16.4%
Applied Materials, Inc.	21,762	5,135,614
Broadcom, Inc.	5,764	9,254,275
KLA Corp.	5,309	4,377,324
Lam Research Corp.	2,299	2,448,090
Microchip Technology, Inc.	15,604	1,427,766


	Shares	Value
Monolithic Power Systems, Inc.	1,305	$	1,072,292
NVIDIA Corp.	333,530	41,204,296
NXP Semiconductors NV	4,208	1,132,331
QUALCOMM, Inc.	37,578	7,484,786
		73,536,774
Software — 21.0%
Adobe, Inc.(1)	15,209	8,449,208
AppLovin Corp., Class A(1)	5,942	494,493
Atlassian Corp., Class A(1)	2,119	374,809
Autodesk, Inc.(1)	14,863	3,677,849
Cadence Design Systems, Inc.(1)	5,602	1,724,016
Crowdstrike Holdings, Inc., Class A(1)	7,531	2,885,804
Datadog, Inc., Class A(1)	12,451	1,614,770
Fair Isaac Corp.(1)	1,247	1,856,359
Fortinet, Inc.(1)	27,746	1,672,251
Intuit, Inc.	9,978	6,557,641
Microsoft Corp.	107,902	48,226,799
Palo Alto Networks, Inc.(1)	5,874	1,991,345
Pegasystems, Inc.	5,095	308,400
Salesforce, Inc.	17,906	4,603,633
ServiceNow, Inc.(1)	10,071	7,922,554
Synopsys, Inc.(1)	812	483,189
Teradata Corp.(1)	10,962	378,847
Workday, Inc., Class A(1)	2,608	583,044
Zscaler, Inc.(1)	1,658	318,651
		94,123,662
Specialty Retail — 3.7%
Burlington Stores, Inc.(1)	1,270	304,800
Home Depot, Inc.	17,805	6,129,193
O'Reilly Automotive, Inc.(1)	339	358,004
Ross Stores, Inc.	13,638	1,981,874
TJX Cos., Inc.	57,880	6,372,588
Ulta Beauty, Inc.(1)	2,917	1,125,583
		16,272,042
Technology Hardware, Storage and Peripherals — 11.7%
Apple, Inc.	242,293	51,031,752
Pure Storage, Inc., Class A(1)	19,192	1,232,318
		52,264,070
Textiles, Apparel and Luxury Goods — 1.3%
Crocs, Inc.(1)	3,761	548,880
Deckers Outdoor Corp.(1)	495	479,135
Lululemon Athletica, Inc.(1)	9,964	2,976,247
NIKE, Inc., Class B	21,470	1,618,194
		5,622,456
Trading Companies and Distributors — 1.3%
Fastenal Co.	25,014	1,571,880
Ferguson PLC	2,977	576,496
WW Grainger, Inc.	4,156	3,749,709
		5,898,085
TOTAL COMMON STOCKS (Cost $191,231,120)		443,516,228
SHORT-TERM INVESTMENTS — 0.9%
Money Market Funds — 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class	21,306	21,306


	Shares	Value
Repurchase Agreements — 0.9%
BMO Capital Markets Corp., (collateralized by various U.S. Treasury obligations, 2.00%, 8/15/25, valued at $272,636), in a joint trading account at 5.29%, dated 6/28/24, due 7/1/24 (Delivery value $267,199)		$	267,081
Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 4.50%, 11/15/33, valued at $2,919,328), at 5.30%, dated 6/28/24, due 7/1/24 (Delivery value $2,863,264)		2,862,000
TD Securities (USA) LLC, (collateralized by various U.S. Treasury obligations, 1.125% - 4.25%, 8/31/25 - 6/30/30, valued at $1,090,905), at 5.29%, dated 6/28/24, due 7/1/24 (Delivery value $1,069,471)		1,069,000
		4,198,081
TOTAL SHORT-TERM INVESTMENTS (Cost $4,219,387)		4,219,387
TOTAL INVESTMENT SECURITIES — 100.1% (Cost $195,450,507)		447,735,615
OTHER ASSETS AND LIABILITIES — (0.1)%		(443,256)
TOTAL NET ASSETS — 100.0%		$	447,292,359


NOTES TO SCHEDULE OF INVESTMENTS

(1)Non-income producing.

See Notes to Financial Statements.


Statement of Assets and Liabilities


JUNE 30, 2024
Assets
Investment securities, at value (cost of $195,450,507)	$	447,735,615
Receivable for capital shares sold	91,393
Dividends and interest receivable	73,559
	447,900,567

Liabilities
Payable for capital shares redeemed	246,154
Accrued management fees	341,377
Distribution and service fees payable	20,677
	608,208

Net Assets	$	447,292,359

Net Assets Consist of:
Capital (par value and paid-in surplus)	$	57,337,772
Distributable earnings (loss)	389,954,587
	$	447,292,359


	Net Assets	Shares Outstanding	Net Asset Value Per Share*
Investor Class, $0.01 Par Value	$285,300,518	9,836,223	$29.01
I Class, $0.01 Par Value	$83,098,160	2,820,093	$29.47
Y Class, $0.01 Par Value	$531,997	17,996	$29.56
A Class, $0.01 Par Value	$57,211,699	2,035,535	$28.11
C Class, $0.01 Par Value	$3,084,153	129,882	$23.75
R Class, $0.01 Par Value	$16,612,496	621,570	$26.73
R5 Class, $0.01 Par Value	$1,453,336	49,277	$29.49

*Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class, for which the maximum offering price per share was $29.82 (net asset value divided by 0.9425). A contingent deferred sales charge may be imposed on redemptions of A Class and C Class.

See Notes to Financial Statements.


Statement of Operations


YEAR ENDED JUNE 30, 2024
Investment Income (Loss)
Income:
Dividends (net of foreign taxes withheld of $3,623)	$	4,035,187
Interest	313,351
	4,348,538

Expenses:
Management fees	5,617,440
Distribution and service fees:
A Class	120,982
C Class	31,099
R Class	70,323
Directors' fees and expenses	48,098
Other expenses	3,998
	5,891,940
Fees waived(1)	(1,737,540)
	4,154,400

Net investment income (loss)	194,138

Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment transactions	272,856,464
Futures contract transactions	2,961,452
Foreign currency translation transactions	2,625
	275,820,541

Change in net unrealized appreciation (depreciation) on investments	(123,555,805)

Net realized and unrealized gain (loss)	152,264,736

Net Increase (Decrease) in Net Assets Resulting from Operations	$	152,458,874

(1)Amount consists of $26,883, $7,038, $53, $4,839, $311, $1,407, $96 and $1,696,913 for Investor Class, I Class, Y Class, A Class, C Class, R Class, R5 Class and G Class, respectively.

See Notes to Financial Statements.


Statement of Changes in Net Assets


YEARS ENDED JUNE 30, 2024 AND JUNE 30, 2023
Increase (Decrease) in Net Assets	June 30, 2024		June 30, 2023
Operations
Net investment income (loss)	$	194,138	$	5,156,768
Net realized gain (loss)	275,820,541		344,317
Change in net unrealized appreciation (depreciation)	(123,555,805)		172,753,975
Net increase (decrease) in net assets resulting from operations	152,458,874		178,255,060

Distributions to Shareholders
From earnings:
Investor Class	(99,698)		—
I Class	(39,707)		(103,214)
Y Class	(390)		(1,156)
A Class	(10,054)		—
R5 Class	(689)		(2,177)
G Class	(1,726,883)		(5,038,511)
Decrease in net assets from distributions	(1,877,421)		(5,145,058)

Capital Share Transactions
Net increase (decrease) in net assets from capital share transactions (Note 5)	(599,184,003)		(134,101,002)

Net increase (decrease) in net assets	(448,602,550)		39,009,000

Net Assets
Beginning of period	895,894,909		856,885,909
End of period	$	447,292,359	$	895,894,909

See Notes to Financial Statements.


Notes to Financial Statements

JUNE 30, 2024

1. Organization

The fund offers the Investor Class, I Class, Y Class, A Class, C Class, R Class and R5 Class. The A Class may incur an initial sales charge. The A Class and C Class may be subject to a contingent deferred sales charge. On December 15, 2023, there were no outstanding G Class shares and the fund discontinued offering G Class.

2. Significant Accounting Policies

Distributions to Shareholders — Distributions from net investment income, if any, are generally declared and paid semiannually. Distributions from net realized gains, if any, are generally declared and paid annually. The fund may elect to treat a portion of its payment to a redeeming shareholder, which represents the pro rata share of undistributed net investment income and net realized gains, as a distribution for federal income tax purposes (tax equalization).

3. Fees and Transactions with Related Parties

The Investment Category Fee range, the Complex Fee range and the effective annual management fee before and after waiver for each class for the period ended June 30, 2024 are as follows:


	Investment Category Fee Range	Complex Fee Range	Effective Annual Management Fee
			Before Waiver	After Waiver
Investor Class	0.6880% to 0.8700%	0.2500% to 0.3100%	1.00%	0.99%
I Class		0.0500% to 0.1100%	0.80%	0.79%
Y Class		0.0000% to 0.0600%	0.75%	0.74%
A Class		0.2500% to 0.3100%	1.00%	0.99%
C Class		0.2500% to 0.3100%	1.00%	0.99%
R Class		0.2500% to 0.3100%	1.00%	0.99%
R5 Class		0.0500% to 0.1100%	0.80%	0.79%
G Class		0.0500% to 0.1100%	0.80%	0.00%

Interfund Transactions — The fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Directors. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. During the period, the interfund sales were $36,121,137 and there were no interfund purchases. The effect of interfund transactions on the Statement of Operations was $8,403,152 in net realized gain (loss) on investment transactions.

4. Investment Transactions

Purchases and sales of investment securities, excluding short-term investments, for the period ended June 30, 2024 were $245,499,900 and $842,827,663, respectively.

5. Capital Share Transactions

Transactions in shares of the fund were as follows:


	Year ended June 30, 2024			Year ended June 30, 2023
	Shares	Amount		Shares	Amount
Investor Class/Shares Authorized	480,000,000			480,000,000
Sold	1,988,114	$	48,146,076	940,132	$	17,704,070
Issued in reinvestment of distributions	3,999	96,746		—	—
Redeemed	(4,937,104)	(117,024,384)		(2,205,471)	(40,593,144)
	(2,944,991)	(68,781,562)		(1,265,339)	(22,889,074)
I Class/Shares Authorized	100,000,000			100,000,000
Sold	481,180	12,009,048		377,447	7,126,295
Issued in reinvestment of distributions	1,617	39,693		5,907	103,188
Redeemed	(678,571)	(16,190,061)		(2,813,361)	(50,886,281)
	(195,774)	(4,141,320)		(2,430,007)	(43,656,798)
Y Class/Shares Authorized	40,000,000			40,000,000
Sold	6,539	157,355		52,397	1,015,973
Issued in reinvestment of distributions	16	390		66	1,156
Redeemed	(11,957)	(303,829)		(34,364)	(673,108)
	(5,402)	(146,084)		18,099	344,021
A Class/Shares Authorized	50,000,000			50,000,000
Sold	378,220	8,682,073		342,653	6,162,417
Issued in reinvestment of distributions	420	9,861		—	—
Redeemed	(380,876)	(9,015,114)		(429,301)	(7,716,853)
	(2,236)	(323,180)		(86,648)	(1,554,436)
C Class/Shares Authorized	20,000,000			20,000,000
Sold	14,938	314,193		5,253	81,073
Redeemed	(93,373)	(1,795,977)		(326,671)	(4,962,521)
	(78,435)	(1,481,784)		(321,418)	(4,881,448)
R Class/Shares Authorized	20,000,000			20,000,000
Sold	174,254	3,909,738		145,767	2,518,092
Redeemed	(215,428)	(4,550,760)		(120,233)	(2,100,491)
	(41,174)	(641,022)		25,534	417,601
R5 Class/Shares Authorized	40,000,000			40,000,000
Sold	27,757	669,476		12,195	225,338
Issued in reinvestment of distributions	28	689		124	2,177
Redeemed	(1,666)	(44,244)		(66,641)	(1,149,713)
	26,119	625,921		(54,322)	(922,198)
G Class/Shares Authorized	550,000,000			550,000,000
Sold	247,767	5,449,116		2,159,845	40,026,333
Issued in reinvestment of distributions	73,610	1,726,883		281,495	5,038,511
Redeemed	(22,635,694)	(531,470,971)		(5,451,825)	(106,023,514)
	(22,314,317)	(524,294,972)		(3,010,485)	(60,958,670)
Net increase (decrease)	(25,556,210)	$	(599,184,003)	(7,124,586)	$	(134,101,002)

6. Fair Value Measurements

•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).

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
Common Stocks	$	443,516,228	—		—
Short-Term Investments	21,306		$	4,198,081	—
	$	443,537,534	$	4,198,081	—

7. Derivative Instruments

At period end, the fund did not have any derivative instruments disclosed on the Statement of Assets and Liabilities. For the year ended June 30, 2024, the effect of equity price risk derivative instruments on the Statement of Operations was $2,961,452 in net realized gain (loss) on futures contract transactions.

8. Risk Factors

9. Federal Tax Information

The tax character of distributions paid during the years ended June 30, 2024 and June 30, 2023 were as follows:


	2024		2023
Distributions Paid From
Ordinary income	$	194,980	$	5,145,058
Long-term capital gains	$	1,682,441	—

The reclassifications, which are primarily due to tax equalization, were made to capital $81,495,673 and distributable earnings $(81,495,673).

As of period end, the federal tax cost of investments and the components of distributable earnings on a tax-basis were as follows:


Federal tax cost of investments	$	196,308,483
Gross tax appreciation of investments	$	254,628,933
Gross tax depreciation of investments	(3,201,801)
Net tax appreciation (depreciation) of investments	251,427,132
Net tax appreciation (depreciation) on derivatives and translation of assets and liabilities in foreign currencies	—
Net tax appreciation (depreciation)	$	251,427,132
Undistributed ordinary income	—
Accumulated long-term gains	$	138,527,455

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is attributable primarily to the tax deferral of losses on wash sales.


Financial Highlights


For a Share Outstanding Throughout the Years Ended June 30 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations*:			Distributions From:					Ratio to Average Net Assets of†:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)(1)	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return(2)	Operating Expenses	Operating Expenses (before expense waiver)	Net Investment Income (Loss)	Net Investment Income (Loss) (before expense waiver)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
Investor Class
2024	$21.70	(0.07)	7.39	7.32	(0.01)	—	(0.01)	$29.01	33.74%	1.00%	1.01%	(0.29)%	(0.30)%	40%	$285,301
2023	$17.68	0.01	4.01	4.02	—	—	—	$21.70	22.74%	1.00%	1.01%	0.06%	0.05%	142%	$277,357
2022	$26.83	(0.06)	(3.76)	(3.82)	—	(5.33)	(5.33)	$17.68	(19.47)%	0.99%	1.00%	(0.14)%	(0.15)%	205%	$248,369
2021	$24.39	(0.07)	7.17	7.10	—	(4.66)	(4.66)	$26.83	31.26%	1.00%	1.01%	(0.28)%	(0.29)%	189%	$273,391
2020	$21.76	(0.02)	4.59	4.57	—	(1.94)	(1.94)	$24.39	22.13%	1.01%	1.02%	(0.10)%	(0.11)%	142%	$238,408
I Class
2024	$22.00	(0.03)	7.51	7.48	(0.01)	—	(0.01)	$29.47	34.03%	0.80%	0.81%	(0.09)%	(0.10)%	40%	$83,098
2023	$17.92	0.05	4.06	4.11	(0.03)	—	(0.03)	$22.00	22.96%	0.80%	0.81%	0.26%	0.25%	142%	$66,363
2022	$27.08	(0.02)	(3.81)	(3.83)	—	(5.33)	(5.33)	$17.92	(19.31)%	0.79%	0.80%	0.06%	0.05%	205%	$97,606
2021	$24.54	(0.02)	7.22	7.20	—	(4.66)	(4.66)	$27.08	31.50%	0.80%	0.81%	(0.08)%	(0.09)%	189%	$149,388
2020	$21.84	0.02	4.62	4.64	—	(1.94)	(1.94)	$24.54	22.38%	0.81%	0.82%	0.10%	0.09%	142%	$136,351
Y Class
2024	$22.06	(0.01)	7.53	7.52	(0.02)	—	(0.02)	$29.56	34.08%	0.75%	0.76%	(0.04)%	(0.05)%	40%	$532
2023	$17.97	0.02	4.11	4.13	(0.04)	—	(0.04)	$22.06	23.02%	0.75%	0.76%	0.31%	0.30%	142%	$516
2022	$27.13	(0.01)	(3.82)	(3.83)	—	(5.33)	(5.33)	$17.97	(19.27)%	0.74%	0.75%	0.11%	0.10%	205%	$95
2021	$24.56	(0.01)	7.24	7.23	—	(4.66)	(4.66)	$27.13	31.61%	0.75%	0.76%	(0.03)%	(0.04)%	189%	$159
2020	$21.85	0.04	4.61	4.65	—	(1.94)	(1.94)	$24.56	22.42%	0.76%	0.77%	0.15%	0.14%	142%	$232
A Class
2024	$21.08	(0.13)	7.16	7.03	—(3)	—	—(3)	$28.11	33.44%	1.25%	1.26%	(0.54)%	(0.55)%	40%	$57,212
2023	$17.22	(0.04)	3.90	3.86	—	—	—	$21.08	22.43%	1.25%	1.26%	(0.19)%	(0.20)%	142%	$42,947
2022	$26.31	(0.12)	(3.64)	(3.76)	—	(5.33)	(5.33)	$17.22	(19.69)%	1.24%	1.25%	(0.39)%	(0.40)%	205%	$36,573
2021	$24.05	(0.13)	7.05	6.92	—	(4.66)	(4.66)	$26.31	30.93%	1.25%	1.26%	(0.53)%	(0.54)%	189%	$47,150
2020	$21.53	(0.08)	4.54	4.46	—	(1.94)	(1.94)	$24.05	21.84%	1.26%	1.27%	(0.35)%	(0.36)%	142%	$34,139
C Class
2024	$17.94	(0.26)	6.07	5.81	—	—	—	$23.75	32.46%	2.00%	2.01%	(1.29)%	(1.30)%	40%	$3,084
2023	$14.76	(0.14)	3.32	3.18	—	—	—	$17.94	21.48%	2.00%	2.01%	(0.94)%	(0.95)%	142%	$3,737
2022	$23.41	(0.27)	(3.05)	(3.32)	—	(5.33)	(5.33)	$14.76	(20.27)%	1.99%	2.00%	(1.14)%	(1.15)%	205%	$7,820
2021	$21.99	(0.29)	6.37	6.08	—	(4.66)	(4.66)	$23.41	29.92%	2.00%	2.01%	(1.28)%	(1.29)%	189%	$16,775
2020	$19.98	(0.22)	4.17	3.95	—	(1.94)	(1.94)	$21.99	20.94%	2.01%	2.02%	(1.10)%	(1.11)%	142%	$22,346


For a Share Outstanding Throughout the Years Ended June 30 (except as noted)
Per-Share Data										Ratios and Supplemental Data
		Income From Investment Operations*:			Distributions From:					Ratio to Average Net Assets of†:
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)(1)	Net Realized and Unrealized Gain (Loss)	Total From Investment Operations	Net Investment Income	Net Realized Gains	Total Distributions	Net Asset Value, End of Period	Total Return(2)	Operating Expenses	Operating Expenses (before expense waiver)	Net Investment Income (Loss)	Net Investment Income (Loss) (before expense waiver)	Portfolio Turnover Rate	Net Assets, End of Period (in thousands)
R Class
2024	$20.09	(0.18)	6.82	6.64	—	—	—	$26.73	33.12%	1.50%	1.51%	(0.79)%	(0.80)%	40%	$16,612
2023	$16.45	(0.08)	3.72	3.64	—	—	—	$20.09	22.14%	1.50%	1.51%	(0.44)%	(0.45)%	142%	$13,312
2022	$25.42	(0.17)	(3.47)	(3.64)	—	(5.33)	(5.33)	$16.45	(19.93)%	1.49%	1.50%	(0.64)%	(0.65)%	205%	$10,481
2021	$23.42	(0.19)	6.85	6.66	—	(4.66)	(4.66)	$25.42	30.63%	1.50%	1.51%	(0.78)%	(0.79)%	189%	$12,958
2020	$21.06	(0.13)	4.43	4.30	—	(1.94)	(1.94)	$23.42	21.56%	1.51%	1.52%	(0.60)%	(0.61)%	142%	$9,548
R5 Class
2024	$22.02	(0.03)	7.51	7.48	(0.01)	—	(0.01)	$29.49	34.00%	0.80%	0.81%	(0.09)%	(0.10)%	40%	$1,453
2023	$17.94	0.07	4.04	4.11	(0.03)	—	(0.03)	$22.02	23.01%	0.80%	0.81%	0.26%	0.25%	142%	$510
2022	$27.10	(0.01)	(3.82)	(3.83)	—	(5.33)	(5.33)	$17.94	(19.34)%	0.79%	0.80%	0.06%	0.05%	205%	$1,390
2021	$24.55	(0.02)	7.23	7.21	—	(4.66)	(4.66)	$27.10	31.53%	0.80%	0.81%	(0.08)%	(0.09)%	189%	$1,528
2020	$21.85	0.02	4.62	4.64	—	(1.94)	(1.94)	$24.55	22.37%	0.81%	0.82%	0.10%	0.09%	142%	$1,153


Notes to Financial Highlights

(1)Computed using average shares outstanding throughout the period.

(3)Per-share amount was less than $0.005.

†Ratios for periods less than one year are annualized. Zero balances may reflect amounts less than 0.005%.

See Notes to Financial Statements.


Report of Independent Registered Public Accounting Firm

To the shareholders of the Disciplined Growth Fund and the Board of Directors of American Century Quantitative Equity Funds, Inc.:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Disciplined Growth Fund (the “Fund”), one of the funds constituting the American Century Quantitative Equity Funds, Inc., as of June 30, 2024, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the three years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of June 30, 2024, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the three years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. The financial highlights for each of the two years in the period ended June 30, 2021, were audited by other auditors, whose report, dated August 17, 2021, expressed an unqualified opinion on such financial highlights.

Basis for Opinion

/s/ Deloitte & Touche LLP

Kansas City, Missouri

August 16, 2024

We have served as the auditor of one or more American Century investment companies since 1997.


Approval of Management Agreement