# EDGAR Filing Document

**Accession Number:** 0001293210
**File Stem:** 0001293210-26-000008
**Filing Date:** 2026-3
**Character Count:** 921746
**Document Hash:** e91ed5b496dd0324df87f91e06d9a45b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001293210-26-000008.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0001293210-26-000008

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 18

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**EFFECTIVENESS DATE**: 20260327

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.
- **CENTRAL INDEX KEY:** 0001293210

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21591
- **FILM NUMBER:** 26801948

**BUSINESS ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111
- **BUSINESS PHONE:** 816-531-5575

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **STREET 2:** 9TH FLOOR
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

## Series and Classes Contracts Data

### ONE CHOICE PORTFOLIO: VERY CONSERVATIVE (Series ID: S000005390)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014670 | INVESTOR CLASS | AONIX           |
| C000153102 | R CLASS        | AORHX           |

### ONE CHOICE 2035 PORTFOLIO (Series ID: S000005392)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014675 | INVESTOR CLASS | ARYIX           |
| C000014676 | A CLASS        | ARYAX           |
| C000014677 | I CLASS        | ARLIX           |
| C000014678 | R CLASS        | ARYRX           |
| C000088018 | C CLASS        | ARLCX           |
| C000191056 | R6 CLASS       | ARLDX           |

### ONE CHOICE 2045 PORTFOLIO (Series ID: S000005393)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014679 | INVESTOR CLASS | AROIX           |
| C000014680 | A CLASS        | AROAX           |
| C000014681 | I CLASS        | AOOIX           |
| C000014682 | R CLASS        | ARORX           |
| C000088019 | C CLASS        | AROCX           |
| C000191057 | R6 CLASS       | ARDOX           |

### ONE CHOICE IN RETIREMENT PORTFOLIO (Series ID: S000005394)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014683 | INVESTOR CLASS | ARTOX           |
| C000014684 | A CLASS        | ARTAX           |
| C000014685 | I CLASS        | ATTIX           |
| C000014686 | R CLASS        | ARSRX           |
| C000088020 | C CLASS        | ATTCX           |
| C000191058 | R6 CLASS       | ARDTX           |

### ONE CHOICE PORTFOLIO: VERY AGGRESSIVE (Series ID: S000005395)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014687 | INVESTOR CLASS | AOVIX           |
| C000153103 | R CLASS        | AORVX           |

### ONE CHOICE PORTFOLIO: AGGRESSIVE (Series ID: S000005396)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014688 | INVESTOR CLASS | AOGIX           |
| C000153104 | R CLASS        | AORYX           |

### ONE CHOICE PORTFOLIO: MODERATE (Series ID: S000005397)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014689 | INVESTOR CLASS | AOMIX           |
| C000153105 | R CLASS        | AORMX           |

### ONE CHOICE PORTFOLIO: CONSERVATIVE (Series ID: S000005398)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000014690 | INVESTOR CLASS | AOCIX           |
| C000153106 | R CLASS        | AORSX           |

### ONE CHOICE 2030 PORTFOLIO (Series ID: S000022361)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000064316 | INVESTOR CLASS | ARCVX           |
| C000064317 | I CLASS        | ARCSX           |
| C000064318 | A CLASS        | ARCMX           |
| C000064319 | R CLASS        | ARCRX           |
| C000088022 | C CLASS        | ARWOX           |
| C000191060 | R6 CLASS       | ARCUX           |

### ONE CHOICE 2040 PORTFOLIO (Series ID: S000022362)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000064320 | I CLASS        | ARDSX           |
| C000064321 | A CLASS        | ARDMX           |
| C000064322 | R CLASS        | ARDRX           |
| C000064323 | INVESTOR CLASS | ARDVX           |
| C000088023 | C CLASS        | ARNOX           |
| C000191061 | R6 CLASS       | ARDUX           |

### ONE CHOICE 2050 PORTFOLIO (Series ID: S000022363)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000064324 | INVESTOR CLASS | ARFVX           |
| C000064325 | I CLASS        | ARFSX           |
| C000064326 | A CLASS        | ARFMX           |
| C000064327 | R CLASS        | ARFWX           |
| C000088024 | C CLASS        | ARFDX           |
| C000191062 | R6 CLASS       | ARFEX           |

### ONE CHOICE 2055 PORTFOLIO (Series ID: S000031554)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000098234 | INVESTOR CLASS | AREVX           |
| C000098235 | I CLASS        | ARENX           |
| C000098236 | A CLASS        | AREMX           |
| C000098237 | C CLASS        | AREFX           |
| C000098238 | R CLASS        | AREOX           |
| C000191063 | R6 CLASS       | AREUX           |

### ONE CHOICE 2060 PORTFOLIO (Series ID: S000050745)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000160243 | INVESTOR CLASS | ARGVX           |
| C000160244 | I CLASS        | ARGNX           |
| C000160245 | A CLASS        | ARGMX           |
| C000160246 | C CLASS        | ARGHX           |
| C000160247 | R CLASS        | ARGRX           |
| C000191064 | R6 CLASS       | ARGDX           |

### One Choice 2065 Portfolio (Series ID: S000069540)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000221887 | R6 Class       | ARHSX           |
| C000221888 | R Class        | ARHFX           |
| C000221889 | Investor Class | ARHVX           |
| C000221890 | A Class        | ARHMX           |
| C000221891 | I Class        | ARHUX           |
| C000221892 | C Class        | ARHEX           |

### ONE CHOICE BLEND+ 2060 PORTFOLIO (Series ID: S000071094)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225686 | I CLASS        | AAEGX           |
| C000225687 | A CLASS        | AAEHX           |
| C000225688 | R CLASS        | AAEIX           |
| C000225689 | INVESTOR CLASS | AAEFX           |
| C000225690 | R6 CLASS       | AAEJX           |

### ONE CHOICE BLEND+ 2065 PORTFOLIO (Series ID: S000071095)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225691 | R6 CLASS       | AAEVX           |
| C000225692 | INVESTOR CLASS | AAEKX           |
| C000225693 | I CLASS        | AAELX           |
| C000225694 | R CLASS        | AAEUX           |
| C000225695 | A CLASS        | AAEOX           |

### ONE CHOICE BLEND+ IN RETIREMENT PORTFOLIO (Series ID: S000071096)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225696 | I CLASS        | AAAOX           |
| C000225697 | A CLASS        | AABEX           |
| C000225698 | R CLASS        | AABGX           |
| C000225699 | R6 CLASS       | AABHX           |
| C000225700 | INVESTOR CLASS | AAAMX           |

### ONE CHOICE BLEND+ 2025 PORTFOLIO (Series ID: S000071097)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225701 | I CLASS        | AABKX           |
| C000225702 | INVESTOR CLASS | AABJX           |
| C000225703 | A CLASS        | AABQX           |
| C000225704 | R CLASS        | AABRX           |
| C000225705 | R6 CLASS       | AABVX           |

### ONE CHOICE BLEND+ 2030 PORTFOLIO (Series ID: S000071098)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225706 | I CLASS        | AAEWX           |
| C000225707 | A CLASS        | AABZX           |
| C000225708 | R CLASS        | AACHX           |
| C000225709 | R6 CLASS       | AACJX           |
| C000225710 | INVESTOR CLASS | AABWX           |

### ONE CHOICE BLEND+ 2035 PORTFOLIO (Series ID: S000071099)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225711 | R6 CLASS       | AACQX           |
| C000225712 | R CLASS        | AACPX           |
| C000225713 | A CLASS        | AACMX           |
| C000225714 | I CLASS        | AACLX           |
| C000225715 | INVESTOR CLASS | AACKX           |

### ONE CHOICE BLEND+ 2040 PORTFOLIO (Series ID: S000071100)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225716 | INVESTOR CLASS | AACSX           |
| C000225717 | I CLASS        | AACUX           |
| C000225718 | A CLASS        | AACVX           |
| C000225719 | R6 CLASS       | AACZX           |
| C000225720 | R CLASS        | AACWX           |

### ONE CHOICE BLEND+ 2045 PORTFOLIO (Series ID: S000071101)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225721 | INVESTOR CLASS | AADHX           |
| C000225722 | I CLASS        | AADJX           |
| C000225723 | A CLASS        | AADKX           |
| C000225724 | R CLASS        | AADLX           |
| C000225725 | R6 CLASS       | AADMX           |

### ONE CHOICE BLEND+ 2050 PORTFOLIO (Series ID: S000071102)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225726 | INVESTOR CLASS | AADNX           |
| C000225727 | I CLASS        | AADOX           |
| C000225728 | A CLASS        | AADPX           |
| C000225729 | R6 CLASS       | AADUX           |
| C000225730 | R CLASS        | AADQX           |

### ONE CHOICE BLEND+ 2055 PORTFOLIO (Series ID: S000071103)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000225731 | I CLASS        | AADWX           |
| C000225732 | A CLASS        | AADZX           |
| C000225733 | R CLASS        | AAEDX           |
| C000225734 | R6 CLASS       | AAEEX           |
| C000225735 | INVESTOR CLASS | AADVX           |

### One Choice 2070 Portfolio (Series ID: S000097117)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000266186 | R6 Class       | ARARX           |
| C000266187 | I Class        | ARAEX           |
| C000266188 | A Class        | ARAJX           |
| C000266189 | C Class        | ARAKX           |
| C000266190 | R Class        | ARAPX           |
| C000266191 | Investor Class | ARADX           |

### One Choice Blend+ 2070 Portfolio (Series ID: S000097118)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000266192 | Investor Class | ARASX           |
| C000266193 | I Class        | ARATX           |
| C000266194 | A Class        | ARAUX           |
| C000266195 | R6 Class       | ARAWX           |
| C000266196 | R Class        | ARAVX           |

?xml version='1.0' encoding='ASCII'? ck0001293210-20260131

**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 | Investment Company Act file number | **811-21591** | **811-21591** | **811-21591** |
| **AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.** | **AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.** | **AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.** | **AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.** | **AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.** |
| (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) | (Exact name of registrant as specified in charter) |
| **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **4500 MAIN STREET, KANSAS CITY, MISSOURI** | **64111** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |
| **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** | **JOHN PAK<br>4500 MAIN STREET, KANSAS CITY, MISSOURI 64111** |
| (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) | (Name and address of agent for service) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | **816-531-5575** | **816-531-5575** |
| Date of fiscal year end: | **07-31** | **07-31** | **07-31** | **07-31** |
| Date of reporting period: | **01-31-2026** | **01-31-2026** | **01-31-2026** | **01-31-2026** |

---

------

**ITEM 1. REPORTS TO STOCKHOLDERS.**

(a) Provided under separate cover.

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AAAMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $61834932 |
| Management Fees (dollars paid during the reporting period) | $140016 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 45.7% |
| Domestic Equity Funds | 27.5% |
| International Equity Funds | 12.3% |
| International Fixed Income Funds | 11.4% |
| Money Market Funds | 3.0% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J748

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AAAOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $61834932 |
| Management Fees (dollars paid during the reporting period) | $140016 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 45.7% |
| Domestic Equity Funds | 27.5% |
| International Equity Funds | 12.3% |
| International Fixed Income Funds | 11.4% |
| Money Market Funds | 3.0% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J730

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AABEX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $43 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $61834932 |
| Management Fees (dollars paid during the reporting period) | $140016 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 45.7% |
| Domestic Equity Funds | 27.5% |
| International Equity Funds | 12.3% |
| International Fixed Income Funds | 11.4% |
| Money Market Funds | 3.0% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J722

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AABGX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $56 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $61834932 |
| Management Fees (dollars paid during the reporting period) | $140016 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 45.7% |
| Domestic Equity Funds | 27.5% |
| International Equity Funds | 12.3% |
| International Fixed Income Funds | 11.4% |
| Money Market Funds | 3.0% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J714

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AABHX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $61834932 |
| Management Fees (dollars paid during the reporting period) | $140016 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 45.7% |
| Domestic Equity Funds | 27.5% |
| International Equity Funds | 12.3% |
| International Fixed Income Funds | 11.4% |
| Money Market Funds | 3.0% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J698

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2025 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AABJX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2025 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $81726232 |
| Management Fees (dollars paid during the reporting period) | $182554 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 41.5% |
| Domestic Equity Funds | 30.5% |
| International Equity Funds | 14.3% |
| International Fixed Income Funds | 11.0% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J680

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2025 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AABKX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2025 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $81726232 |
| Management Fees (dollars paid during the reporting period) | $182554 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 41.5% |
| Domestic Equity Funds | 30.5% |
| International Equity Funds | 14.3% |
| International Fixed Income Funds | 11.0% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J672

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2025 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AABQX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2025 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $43 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $81726232 |
| Management Fees (dollars paid during the reporting period) | $182554 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 41.5% |
| Domestic Equity Funds | 30.5% |
| International Equity Funds | 14.3% |
| International Fixed Income Funds | 11.0% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J664

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2025 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AABRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2025 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $56 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $81726232 |
| Management Fees (dollars paid during the reporting period) | $182554 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 41.5% |
| Domestic Equity Funds | 30.5% |
| International Equity Funds | 14.3% |
| International Fixed Income Funds | 11.0% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J656

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2025 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AABVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2025 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $81726232 |
| Management Fees (dollars paid during the reporting period) | $182554 |
| Portfolio Turnover Rate | 15% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 41.5% |
| Domestic Equity Funds | 30.5% |
| International Equity Funds | 14.3% |
| International Fixed Income Funds | 11.0% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J649

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AABWX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $132273625 |
| Management Fees (dollars paid during the reporting period) | $291002 |
| Portfolio Turnover Rate | 19% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.4% |
| Domestic Fixed Income Funds | 34.7% |
| International Equity Funds | 17.7% |
| International Fixed Income Funds | 9.9% |
| Money Market Funds | 2.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J631

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AAEWX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $132273625 |
| Management Fees (dollars paid during the reporting period) | $291002 |
| Portfolio Turnover Rate | 19% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.4% |
| Domestic Fixed Income Funds | 34.7% |
| International Equity Funds | 17.7% |
| International Fixed Income Funds | 9.9% |
| Money Market Funds | 2.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J623

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AABZX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $43 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $132273625 |
| Management Fees (dollars paid during the reporting period) | $291002 |
| Portfolio Turnover Rate | 19% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.4% |
| Domestic Fixed Income Funds | 34.7% |
| International Equity Funds | 17.7% |
| International Fixed Income Funds | 9.9% |
| Money Market Funds | 2.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J615

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AACHX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $57 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $132273625 |
| Management Fees (dollars paid during the reporting period) | $291002 |
| Portfolio Turnover Rate | 19% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.4% |
| Domestic Fixed Income Funds | 34.7% |
| International Equity Funds | 17.7% |
| International Fixed Income Funds | 9.9% |
| Money Market Funds | 2.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J599

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AACJX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $132273625 |
| Management Fees (dollars paid during the reporting period) | $291002 |
| Portfolio Turnover Rate | 19% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.4% |
| Domestic Fixed Income Funds | 34.7% |
| International Equity Funds | 17.7% |
| International Fixed Income Funds | 9.9% |
| Money Market Funds | 2.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J581

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AACKX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $141187181 |
| Management Fees (dollars paid during the reporting period) | $308084 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 40.4% |
| Domestic Fixed Income Funds | 27.6% |
| International Equity Funds | 21.6% |
| International Fixed Income Funds | 8.5% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J573

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AACLX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $141187181 |
| Management Fees (dollars paid during the reporting period) | $308084 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 40.4% |
| Domestic Fixed Income Funds | 27.6% |
| International Equity Funds | 21.6% |
| International Fixed Income Funds | 8.5% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J565

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AACMX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $44 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $141187181 |
| Management Fees (dollars paid during the reporting period) | $308084 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 40.4% |
| Domestic Fixed Income Funds | 27.6% |
| International Equity Funds | 21.6% |
| International Fixed Income Funds | 8.5% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J557

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AACPX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $57 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $141187181 |
| Management Fees (dollars paid during the reporting period) | $308084 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 40.4% |
| Domestic Fixed Income Funds | 27.6% |
| International Equity Funds | 21.6% |
| International Fixed Income Funds | 8.5% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J540

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AACQX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $141187181 |
| Management Fees (dollars paid during the reporting period) | $308084 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 40.4% |
| Domestic Fixed Income Funds | 27.6% |
| International Equity Funds | 21.6% |
| International Fixed Income Funds | 8.5% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J532

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AACSX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144956124 |
| Management Fees (dollars paid during the reporting period) | $323561 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 45.2% |
| International Equity Funds | 25.7% |
| Domestic Fixed Income Funds | 20.8% |
| International Fixed Income Funds | 7.0% |
| Money Market Funds | 1.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J524

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AACUX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144956124 |
| Management Fees (dollars paid during the reporting period) | $323561 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 45.2% |
| International Equity Funds | 25.7% |
| Domestic Fixed Income Funds | 20.8% |
| International Fixed Income Funds | 7.0% |
| Money Market Funds | 1.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J516

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AACVX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $44 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144956124 |
| Management Fees (dollars paid during the reporting period) | $323561 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 45.2% |
| International Equity Funds | 25.7% |
| Domestic Fixed Income Funds | 20.8% |
| International Fixed Income Funds | 7.0% |
| Money Market Funds | 1.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J490

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AACWX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $57 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144956124 |
| Management Fees (dollars paid during the reporting period) | $323561 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 45.2% |
| International Equity Funds | 25.7% |
| Domestic Fixed Income Funds | 20.8% |
| International Fixed Income Funds | 7.0% |
| Money Market Funds | 1.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J482

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AACZX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144956124 |
| Management Fees (dollars paid during the reporting period) | $323561 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 24 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 45.2% |
| International Equity Funds | 25.7% |
| Domestic Fixed Income Funds | 20.8% |
| International Fixed Income Funds | 7.0% |
| Money Market Funds | 1.4% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J474

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AADHX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $136210892 |
| Management Fees (dollars paid during the reporting period) | $284201 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 49.8% |
| International Equity Funds | 28.7% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.2% |
| Money Market Funds | 1.1% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J466

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AADJX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $136210892 |
| Management Fees (dollars paid during the reporting period) | $284201 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 49.8% |
| International Equity Funds | 28.7% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.2% |
| Money Market Funds | 1.1% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J458

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AADKX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $44 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $136210892 |
| Management Fees (dollars paid during the reporting period) | $284201 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 49.8% |
| International Equity Funds | 28.7% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.2% |
| Money Market Funds | 1.1% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J441

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AADLX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $57 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $136210892 |
| Management Fees (dollars paid during the reporting period) | $284201 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 49.8% |
| International Equity Funds | 28.7% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.2% |
| Money Market Funds | 1.1% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J433

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AADMX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $136210892 |
| Management Fees (dollars paid during the reporting period) | $284201 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 49.8% |
| International Equity Funds | 28.7% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.2% |
| Money Market Funds | 1.1% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J425

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AADNX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $128533259 |
| Management Fees (dollars paid during the reporting period) | $268788 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.4% |
| International Equity Funds | 31.7% |
| Domestic Fixed Income Funds | 9.8% |
| International Fixed Income Funds | 3.3% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J417

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AADOX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $128533259 |
| Management Fees (dollars paid during the reporting period) | $268788 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.4% |
| International Equity Funds | 31.7% |
| Domestic Fixed Income Funds | 9.8% |
| International Fixed Income Funds | 3.3% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J391

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AADPX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $44 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $128533259 |
| Management Fees (dollars paid during the reporting period) | $268788 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.4% |
| International Equity Funds | 31.7% |
| Domestic Fixed Income Funds | 9.8% |
| International Fixed Income Funds | 3.3% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J383

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AADQX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $58 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $128533259 |
| Management Fees (dollars paid during the reporting period) | $268788 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.4% |
| International Equity Funds | 31.7% |
| Domestic Fixed Income Funds | 9.8% |
| International Fixed Income Funds | 3.3% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J375

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AADUX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $128533259 |
| Management Fees (dollars paid during the reporting period) | $268788 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.4% |
| International Equity Funds | 31.7% |
| Domestic Fixed Income Funds | 9.8% |
| International Fixed Income Funds | 3.3% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J367

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AADVX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $93385419 |
| Management Fees (dollars paid during the reporting period) | $202952 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 59.5% |
| International Equity Funds | 34.1% |
| Domestic Fixed Income Funds | 4.5% |
| International Fixed Income Funds | 1.5% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J359

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AADWX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $93385419 |
| Management Fees (dollars paid during the reporting period) | $202952 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 59.5% |
| International Equity Funds | 34.1% |
| Domestic Fixed Income Funds | 4.5% |
| International Fixed Income Funds | 1.5% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J342

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AADZX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $45 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $93385419 |
| Management Fees (dollars paid during the reporting period) | $202952 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 59.5% |
| International Equity Funds | 34.1% |
| Domestic Fixed Income Funds | 4.5% |
| International Fixed Income Funds | 1.5% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J334

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AAEDX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $58 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $93385419 |
| Management Fees (dollars paid during the reporting period) | $202952 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 59.5% |
| International Equity Funds | 34.1% |
| Domestic Fixed Income Funds | 4.5% |
| International Fixed Income Funds | 1.5% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J326

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AAEEX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $93385419 |
| Management Fees (dollars paid during the reporting period) | $202952 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 59.5% |
| International Equity Funds | 34.1% |
| Domestic Fixed Income Funds | 4.5% |
| International Fixed Income Funds | 1.5% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J318

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AAEFX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $89075252 |
| Management Fees (dollars paid during the reporting period) | $210351 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.3% |
| International Equity Funds | 34.8% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J292

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AAEGX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $89075252 |
| Management Fees (dollars paid during the reporting period) | $210351 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.3% |
| International Equity Funds | 34.8% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J284

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AAEHX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $45 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $89075252 |
| Management Fees (dollars paid during the reporting period) | $210351 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.3% |
| International Equity Funds | 34.8% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J276

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AAEIX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $58 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $89075252 |
| Management Fees (dollars paid during the reporting period) | $210351 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.3% |
| International Equity Funds | 34.8% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J268

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AAEJX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $89075252 |
| Management Fees (dollars paid during the reporting period) | $210351 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.3% |
| International Equity Funds | 34.8% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J250

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AAEKX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $31 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $19420596 |
| Management Fees (dollars paid during the reporting period) | $33666 |
| Portfolio Turnover Rate | 9% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.5% |
| International Equity Funds | 34.5% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J243

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AAELX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $20 | 0.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $19420596 |
| Management Fees (dollars paid during the reporting period) | $33666 |
| Portfolio Turnover Rate | 9% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.5% |
| International Equity Funds | 34.5% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J235

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AAEOX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $45 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $19420596 |
| Management Fees (dollars paid during the reporting period) | $33666 |
| Portfolio Turnover Rate | 9% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.5% |
| International Equity Funds | 34.5% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J227

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AAEUX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $58 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $19420596 |
| Management Fees (dollars paid during the reporting period) | $33666 |
| Portfolio Turnover Rate | 9% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.5% |
| International Equity Funds | 34.5% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J219

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AAEVX)** | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $12 | 0.23% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $19420596 |
| Management Fees (dollars paid during the reporting period) | $33666 |
| Portfolio Turnover Rate | 9% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.5% |
| International Equity Funds | 34.5% |
| Domestic Fixed Income Funds | 3.5% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.1% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J193

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARASX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $10 | 0.58% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $266438 |
| Management Fees (dollars paid during the reporting period) | $200 |
| Portfolio Turnover Rate | 4% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.6% |
| International Equity Funds | 34.4% |
| Domestic Fixed Income Funds | 3.6% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K703

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARATX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| I Class | $7 | 0.38% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $266438 |
| Management Fees (dollars paid during the reporting period) | $200 |
| Portfolio Turnover Rate | 4% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.6% |
| International Equity Funds | 34.4% |
| Domestic Fixed Income Funds | 3.6% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K802

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARAUX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| A Class | $14 | 0.83% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $266438 |
| Management Fees (dollars paid during the reporting period) | $200 |
| Portfolio Turnover Rate | 4% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.6% |
| International Equity Funds | 34.4% |
| Domestic Fixed Income Funds | 3.6% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K885

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARAVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| R Class | $19 | 1.08% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $266438 |
| Management Fees (dollars paid during the reporting period) | $200 |
| Portfolio Turnover Rate | 4% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.6% |
| International Equity Funds | 34.4% |
| Domestic Fixed Income Funds | 3.6% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K877

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Blend+ 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARAWX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Blend+ 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $4 | 0.23% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $266438 |
| Management Fees (dollars paid during the reporting period) | $200 |
| Portfolio Turnover Rate | 4% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 60.6% |
| International Equity Funds | 34.4% |
| Domestic Fixed Income Funds | 3.6% |
| International Fixed Income Funds | 1.2% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | (0.1)% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K869

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Very Conservative &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AONIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Very Conservative for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $360863877 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 56.4% |
| Domestic Equity Funds | 20.4% |
| International Fixed Income Funds | 16.2% |
| International Equity Funds | 4.5% |
| Money Market Funds | 2.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F753

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Very Conservative &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AORHX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Very Conservative for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $26 | 0.50% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $360863877 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 19 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 56.4% |
| Domestic Equity Funds | 20.4% |
| International Fixed Income Funds | 16.2% |
| International Equity Funds | 4.5% |
| Money Market Funds | 2.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F258

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Conservative &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AOCIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Conservative for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1089320154 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 40.6% |
| Domestic Equity Funds | 33.3% |
| International Fixed Income Funds | 12.8% |
| International Equity Funds | 11.5% |
| Money Market Funds | 1.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F746

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Conservative &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AORSX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Conservative for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $26 | 0.50% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1089320154 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 40.6% |
| Domestic Equity Funds | 33.3% |
| International Fixed Income Funds | 12.8% |
| International Equity Funds | 11.5% |
| Money Market Funds | 1.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F241

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Moderate &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AOMIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Moderate for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1853234006 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| Domestic Fixed Income Funds | 26.7% |
| International Equity Funds | 22.1% |
| International Fixed Income Funds | 8.2% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F738

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Moderate &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AORMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Moderate for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $26 | 0.50% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1853234006 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| Domestic Fixed Income Funds | 26.7% |
| International Equity Funds | 22.1% |
| International Fixed Income Funds | 8.2% |
| Money Market Funds | 0.7% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F233

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Aggressive &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AOGIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Aggressive for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $915029406 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.8% |
| International Equity Funds | 29.4% |
| Domestic Fixed Income Funds | 13.9% |
| International Fixed Income Funds | 3.7% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F720

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Aggressive &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AORYX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Aggressive for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $26 | 0.50% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $915029406 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.8% |
| International Equity Funds | 29.4% |
| Domestic Fixed Income Funds | 13.9% |
| International Fixed Income Funds | 3.7% |
| Money Market Funds | 0.2% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F225

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Very Aggressive &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AOVIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Very Aggressive for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $0 | 0.00% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $363425835 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 14 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 61.7% |
| International Equity Funds | 38.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F712

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice Portfolio: Very Aggressive &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AORVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice Portfolio: Very Aggressive for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $26 | 0.50% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $363425835 |
| Management Fees (dollars paid during the reporting period) |  |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 14 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 61.7% |
| International Equity Funds | 38.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F217

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARTOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $38 | 0.74% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F795

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ATTIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $28 | 0.54% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F779

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARTAX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $51 | 0.99% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F787

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ATTCX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $90 | 1.74% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F431

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARSRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $64 | 1.24% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F761

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice In Retirement Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARDTX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice In Retirement Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $20 | 0.39% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $2429408018 |
| Management Fees (dollars paid during the reporting period) | $8577737 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 39.2% |
| Domestic Equity Funds | 30.7% |
| International Equity Funds | 14.1% |
| International Fixed Income Funds | 13.2% |
| Money Market Funds | 2.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J102

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARCVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $41 | 0.78% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F654

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARCSX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $30 | 0.58% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F647

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARCMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $54 | 1.03% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F621

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARWOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $92 | 1.78% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F480

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARCRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $67 | 1.28% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F639

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2030 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARCUX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2030 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $22 | 0.43% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1200041003 |
| Management Fees (dollars paid during the reporting period) | $4281897 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 22 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Fixed Income Funds | 35.7% |
| Domestic Equity Funds | 33.0% |
| International Equity Funds | 15.9% |
| International Fixed Income Funds | 12.8% |
| Money Market Funds | 2.6% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J409

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARYIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $42 | 0.81% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F886

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARLIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $32 | 0.61% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F860

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARYAX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $55 | 1.06% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F878

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARLCX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $94 | 1.81% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F472

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARYRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $68 | 1.31% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F852

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2035 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARLDX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2035 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $24 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1529946236 |
| Management Fees (dollars paid during the reporting period) | $5744467 |
| Portfolio Turnover Rate | 12% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 35.6% |
| Domestic Fixed Income Funds | 31.8% |
| International Equity Funds | 18.5% |
| International Fixed Income Funds | 12.2% |
| Money Market Funds | 1.9% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J508

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARDVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $43 | 0.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F613

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARDSX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $33 | 0.63% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F597

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARDMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $57 | 1.08% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F571

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARNOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $96 | 1.83% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F464

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARDRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $70 | 1.33% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F589

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2040 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARDUX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2040 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $25 | 0.48% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1126112927 |
| Management Fees (dollars paid during the reporting period) | $4308761 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 39.0% |
| Domestic Fixed Income Funds | 27.8% |
| International Equity Funds | 21.0% |
| International Fixed Income Funds | 10.9% |
| Money Market Funds | 1.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J607

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AROIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $45 | 0.86% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F845

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AOOIX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $35 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F829

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AROAX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $58 | 1.11% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F837

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AROCX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $97 | 1.86% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F456

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARORX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $71 | 1.36% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F811

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2045 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARDOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2045 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $27 | 0.51% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1251545050 |
| Management Fees (dollars paid during the reporting period) | $5068755 |
| Portfolio Turnover Rate | 10% |
| Total Number of Portfolio Holdings | 23 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 42.3% |
| International Equity Funds | 24.1% |
| Domestic Fixed Income Funds | 23.9% |
| International Fixed Income Funds | 8.9% |
| Money Market Funds | 0.8% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J706

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARFVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $46 | 0.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F563

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARFSX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $36 | 0.68% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F555

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARFMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $59 | 1.13% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F530

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARFDX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $99 | 1.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F449

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARFWX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $73 | 1.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F548

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2050 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARFEX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2050 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $28 | 0.53% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $966171364 |
| Management Fees (dollars paid during the reporting period) | $3934363 |
| Portfolio Turnover Rate | 11% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 46.2% |
| International Equity Funds | 26.3% |
| Domestic Fixed Income Funds | 19.8% |
| International Fixed Income Funds | 7.2% |
| Money Market Funds | 0.5% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J805

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (AREVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $46 | 0.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F423

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARENX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $36 | 0.68% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F415

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AREMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $60 | 1.13% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F399

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AREFX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $99 | 1.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F381

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AREOX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $73 | 1.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F373

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2055 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (AREUX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2055 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $28 | 0.53% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $727452698 |
| Management Fees (dollars paid during the reporting period) | $2939495 |
| Portfolio Turnover Rate | 13% |
| Total Number of Portfolio Holdings | 21 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 50.2% |
| International Equity Funds | 28.6% |
| Domestic Fixed Income Funds | 15.2% |
| International Fixed Income Funds | 5.6% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J888

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARGVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $46 | 0.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F191

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARGNX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $36 | 0.68% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F183

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARGMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $60 | 1.13% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F167

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARGHX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $99 | 1.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F159

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARGRX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $73 | 1.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507F142

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2060 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARGDX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2060 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $28 | 0.53% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $430610812 |
| Management Fees (dollars paid during the reporting period) | $1703917 |
| Portfolio Turnover Rate | 14% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 52.5% |
| International Equity Funds | 29.5% |
| Domestic Fixed Income Funds | 12.9% |
| International Fixed Income Funds | 4.7% |
| Money Market Funds | 0.4% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J870

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARHVX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $47 | 0.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J862

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARHUX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| I Class | $36 | 0.68% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J854

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARHMX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| A Class | $60 | 1.13% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J847

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARHEX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| C Class | $99 | 1.88% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J839

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARHFX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R Class | $73 | 1.38% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J821

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2065 Portfolio &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARHSX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2065 Portfolio for the period of August 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $28 | 0.53% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $144575854 |
| Management Fees (dollars paid during the reporting period) | $537905 |
| Portfolio Turnover Rate | 25% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 53.9% |
| International Equity Funds | 30.7% |
| Domestic Fixed Income Funds | 11.1% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507J813

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ARADX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| Investor Class | $15 | 0.88% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K109

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ARAEX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| I Class | $12 | 0.68% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K208

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ARAJX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| A Class | $19 | 1.13% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K307

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ARAKX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| C Class | $32 | 1.88% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K406

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ARAPX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| R Class | $23 | 1.38% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K505

------

**SEMIANNUAL SHAREHOLDER REPORT**

One Choice 2070 Portfolio &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| **R6 Class (ARARX)**  | **January 31, 2026** |

---

This semi-annual shareholder report contains important information about One Choice 2070 Portfolio for the period of December 1, 2025 to January 31, 2026. 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 six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* | **What were the fund costs for the last six months?** *(based on a hypothetical $10,000 investment)* |
|  | Costs of a $10,000 investment\* | Costs paid as a percentage of a $10,000 investment |
| R6 Class | $9 | 0.53% |
| \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. | \*The costs of an investment would have been greater had the class been available for a full six months. |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $750245 |
| Management Fees (dollars paid during the reporting period) | $525 |
| Portfolio Turnover Rate | 2% |
| Total Number of Portfolio Holdings | 20 |

---

**Fund Holdings**

---

| | |
|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* |
| Domestic Equity Funds | 54.5% |
| International Equity Funds | 30.4% |
| Domestic Fixed Income Funds | 10.8% |
| International Fixed Income Funds | 4.0% |
| Money Market Funds | 0.3% |
| Other Assets and Liabilities | 0.0% |

---

*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.*

![QR ACI Docs.jpg](ck0001293210-20260131_g2.jpg)

 <br>©2026 American Century Proprietary Holdings, Inc. All rights reserved.

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

S-2507K604

------

(b) Not applicable.

**ITEM 2. CODE OF ETHICS.**

Not applicable for semiannual report filings.

**ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.**

Not applicable for semiannual report filings.

**ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.**

Not applicable for semiannual report filings.

**ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.**

Not applicable for semiannual report filings.

**ITEM 6. INVESTMENTS.**

(a) The schedule of investments is included as part of the financial statements and other information filed under Item 7 of this Form.

(b) Not applicable.

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

(a) ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| Semiannual Financial Statements and Other Information | Semiannual Financial Statements and Other Information |
| January 31, 2026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ In Retirement Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2050 Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AAAMX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AADNX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AAAOX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AADOX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AABEX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AADPX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AABGX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AADQX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AABHX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AADUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2025 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2055 Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AABJX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AADVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AABKX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AADWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AABQX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AADZX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AABRX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AAEDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AABVX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AAEEX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2030 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2060 Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AABWX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AAEFX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AAEWX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AAEGX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AABZX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AAEHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AACHX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AAEIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AACJX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AAEJX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2035 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2065 Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AACKX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AAEKX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AACLX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AAELX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AACMX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AAEOX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AACPX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AAEUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AACQX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AAEVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2040 Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2070 Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AACSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARASX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AACUX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARATX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AACVX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARAUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AACWX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARAVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AACZX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARAWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> Blend+ 2045 Portfolio |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AADHX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AADJX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AADKX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AADLX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AADMX) |  |

---

***Investors should carefully consider a fund's investment objectives, risks, charges and expenses. For this and additional information about a fund, including the Annual Shareholder Report, Semiannual Shareholder Report, Prospectus and Statement of Additional Information, visit americancentury.com/docs.***

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedules of Investments | [2](#ib5c2e8e119fc468b91ca49135daafe23_31) |
| Statements of Assets and Liabilities | [13](#ib5c2e8e119fc468b91ca49135daafe23_34) |
| Statements of Operations | [19](#ib5c2e8e119fc468b91ca49135daafe23_37) |
| Statements of Changes in Net Assets | [25](#ib5c2e8e119fc468b91ca49135daafe23_40) |
| Notes to Financial Statements | [31](#ib5c2e8e119fc468b91ca49135daafe23_43) |
| Financial Highlights | [54](#ib5c2e8e119fc468b91ca49135daafe23_49) |
| Approval of Management Agreements | [75](#ib5c2e8e119fc468b91ca49135daafe23_58) |

---

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ In Retirement Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 45.7%** | | |
| Avantis Core Fixed Income Fund G Class | 1837833 | $15621583 |
| High Income Fund G Class | 254135 | 2233850 |
| Inflation-Adjusted Bond Fund G Class | 245005 | 2599499 |
| Short Duration Fund G Class | 377394 | 3724881 |
| Short Duration Inflation Protection Bond Fund G Class | 388291 | 4096475 |
|  |  | 28276288 |
| **Domestic Equity Funds — 27.5%** |  |  |
| Avantis U.S. Equity Fund G Class | 184653 | 4006964 |
| Avantis U.S. Small Cap Value Fund G Class | 28786 | 533977 |
| Focused Large Cap Value Fund G Class | 529435 | 5749665 |
| Growth Fund G Class | 81675 | 4919313 |
| Heritage Fund G Class | 10257 | 270977 |
| Mid Cap Value Fund G Class | 66132 | 1022394 |
| Small Cap Growth Fund G Class | 20615 | 516400 |
|  |  | 17019690 |
| **International Equity Funds — 12.4%** |  |  |
| Avantis International Equity Fund G Class | 235665 | 3855486 |
| Focused International Growth Fund G Class | 71575 | 1442228 |
| Global Real Estate Fund G Class | 45247 | 624862 |
| International Value Fund G Class | 148968 | 1710156 |
|  |  | 7632732 |
| **International Fixed Income Funds — 11.4%** |  |  |
| Emerging Markets Debt Fund G Class | 77797 | 742960 |
| Global Bond Fund G Class | 720774 | 6306770 |
|  |  | 7049730 |
| **Money Market Funds — 3.0%** |  |  |
| U.S. Government Money Market Fund G Class | 1857834 | 1857834 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $58,540,005) |  | **61836274** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(1342)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**61834932** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2025 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 41.5%** |  |  |
| Avantis Core Fixed Income Fund G Class | 2304094 | $19584802 |
| High Income Fund G Class | 398554 | 3503293 |
| Inflation-Adjusted Bond Fund G Class | 297260 | 3153927 |
| Short Duration Fund G Class | 334175 | 3298311 |
| Short Duration Inflation Protection Bond Fund G Class | 416612 | 4395251 |
|  |  | 33935584 |
| **Domestic Equity Funds — 30.5%** |  |  |
| Avantis U.S. Equity Fund G Class | 287758 | 6244346 |
| Avantis U.S. Small Cap Value Fund G Class | 42882 | 795453 |
| Focused Large Cap Value Fund G Class | 738967 | 8025187 |
| Growth Fund G Class | 115481 | 6955407 |
| Heritage Fund G Class | 23155 | 611749 |
| Mid Cap Value Fund G Class | 97154 | 1502004 |
| Small Cap Growth Fund G Class | 30882 | 773605 |
|  |  | 24907751 |
| **International Equity Funds — 14.3%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 29574 | 470519 |
| Avantis International Equity Fund G Class | 341570 | 5588082 |
| Focused International Growth Fund G Class | 103280 | 2081086 |
| Global Real Estate Fund G Class | 69855 | 964694 |
| International Small-Mid Cap Fund G Class | 10532 | 135646 |
| International Value Fund G Class | 211672 | 2429997 |
|  |  | 11670024 |
| **International Fixed Income Funds — 10.9%** |  |  |
| Emerging Markets Debt Fund G Class | 134675 | 1286147 |
| Global Bond Fund G Class | 876382 | 7668342 |
|  |  | 8954489 |
| **Money Market Funds — 2.8%** |  |  |
| U.S. Government Money Market Fund G Class | 2260036 | 2260036 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $75,841,341) |  | **81727884** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(1652)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**81726232** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2030 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 35.4%** |  |  |
| Avantis U.S. Equity Fund G Class | 579013 | $12564591 |
| Avantis U.S. Small Cap Value Fund G Class | 82508 | 1530515 |
| Focused Large Cap Value Fund G Class | 1292271 | 14034061 |
| Growth Fund G Class | 211516 | 12739622 |
| Heritage Fund G Class | 61846 | 1633972 |
| Mid Cap Value Fund G Class | 183066 | 2830204 |
| Small Cap Growth Fund G Class | 59803 | 1498075 |
|  |  | 46831040 |
| **Domestic Fixed Income Funds — 34.7%** |  |  |
| Avantis Core Fixed Income Fund G Class | 3294282 | 28001396 |
| High Income Fund G Class | 688994 | 6056259 |
| Inflation-Adjusted Bond Fund G Class | 409007 | 4339560 |
| Short Duration Fund G Class | 246365 | 2431626 |
| Short Duration Inflation Protection Bond Fund G Class | 478871 | 5052093 |
|  |  | 45880934 |
| **International Equity Funds — 17.7%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 133512 | 2124172 |
| Avantis International Equity Fund G Class | 638611 | 10447684 |
| Focused International Growth Fund G Class | 193756 | 3904184 |
| Global Real Estate Fund G Class | 139363 | 1924598 |
| International Small-Mid Cap Fund G Class | 46787 | 602618 |
| International Value Fund G Class | 379777 | 4359838 |
|  |  | 23363094 |
| **International Fixed Income Funds — 9.9%** |  |  |
| Emerging Markets Debt Fund G Class | 265493 | 2535461 |
| Global Bond Fund G Class | 1206492 | 10556804 |
|  |  | 13092265 |
| **Money Market Funds — 2.3%** |  |  |
| U.S. Government Money Market Fund G Class | 3108946 | 3108946 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $121,171,138) |  | **132276279** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2654)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**132273625** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2035 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 40.4%** |  |  |
| Avantis U.S. Equity Fund G Class | 754584 | $16374475 |
| Avantis U.S. Small Cap Value Fund G Class | 104131 | 1931623 |
| Focused Dynamic Growth Fund G Class | 54803 | 4627058 |
| Focused Large Cap Value Fund G Class | 1468456 | 15947434 |
| Growth Fund G Class | 170916 | 10294262 |
| Heritage Fund G Class | 97353 | 2572071 |
| Mid Cap Value Fund G Class | 223302 | 3452254 |
| Small Cap Growth Fund G Class | 73563 | 1842764 |
|  |  | 57041941 |
| **Domestic Fixed Income Funds — 27.6%** |  |  |
| Avantis Core Fixed Income Fund G Class | 3035908 | 25805215 |
| High Income Fund G Class | 707334 | 6217468 |
| Inflation-Adjusted Bond Fund G Class | 313462 | 3325833 |
| Short Duration Fund G Class | 103593 | 1022460 |
| Short Duration Inflation Protection Bond Fund G Class | 242000 | 2553103 |
|  |  | 38924079 |
| **International Equity Funds — 21.6%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 194873 | 3100431 |
| Avantis International Equity Fund G Class | 771524 | 12622133 |
| Emerging Markets Fund G Class | 81335 | 1366435 |
| Focused International Growth Fund G Class | 228893 | 4612185 |
| Global Real Estate Fund G Class | 180445 | 2491949 |
| International Small-Mid Cap Fund G Class | 96659 | 1244971 |
| International Value Fund G Class | 318036 | 3651056 |
| Non-U.S. Intrinsic Value Fund G Class | 133901 | 1470229 |
|  |  | 30559389 |
| **International Fixed Income Funds — 8.5%** |  |  |
| Emerging Markets Debt Fund G Class | 305773 | 2920128 |
| Global Bond Fund G Class | 1038274 | 9084893 |
|  |  | 12005021 |
| **Money Market Funds — 1.9%** |  |  |
| U.S. Government Money Market Fund G Class | 2659698 | 2659698 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $128,063,961) |  | **141190128** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2947)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**141187181** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2040 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 45.2%** |  |  |
| Avantis U.S. Equity Fund G Class | 919511 | $19953392 |
| Avantis U.S. Small Cap Value Fund G Class | 121765 | 2258743 |
| Focused Dynamic Growth Fund G Class | 130086 | 10983195 |
| Focused Large Cap Value Fund G Class | 1562915 | 16973260 |
| Growth Fund G Class | 92477 | 5569882 |
| Heritage Fund G Class | 139067 | 3674149 |
| Mid Cap Value Fund G Class | 255371 | 3948030 |
| Small Cap Growth Fund G Class | 84675 | 2121114 |
|  |  | 65481765 |
| **International Equity Funds — 25.6%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 268082 | 4265180 |
| Avantis International Equity Fund G Class | 867919 | 14199147 |
| Emerging Markets Fund G Class | 182545 | 3066753 |
| Focused International Growth Fund G Class | 255363 | 5145572 |
| Global Real Estate Fund G Class | 219218 | 3027400 |
| International Small-Mid Cap Fund G Class | 157529 | 2028978 |
| International Value Fund G Class | 194637 | 2234436 |
| Non-U.S. Intrinsic Value Fund G Class | 293328 | 3220737 |
|  |  | 37188203 |
| **Domestic Fixed Income Funds — 20.8%** |  |  |
| Avantis Core Fixed Income Fund G Class | 2558357 | 21746034 |
| High Income Fund G Class | 639263 | 5619121 |
| Inflation-Adjusted Bond Fund G Class | 207291 | 2199356 |
| Short Duration Fund G Class | 14045 | 138624 |
| Short Duration Inflation Protection Bond Fund G Class | 36702 | 387205 |
|  |  | 30090340 |
| **International Fixed Income Funds — 7.0%** |  |  |
| Emerging Markets Debt Fund G Class | 309602 | 2956702 |
| Global Bond Fund G Class | 818057 | 7157997 |
|  |  | 10114699 |
| **Money Market Funds — 1.4%** |  |  |
| U.S. Government Money Market Fund G Class | 2084261 | 2084261 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $129,328,902) |  | **144959268** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(3144)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**144956124** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2045 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 49.8%** |  |  |
| Avantis U.S. Equity Fund G Class | 964771 | $20935530 |
| Avantis U.S. Small Cap Value Fund G Class | 125702 | 2331776 |
| Focused Dynamic Growth Fund G Class | 182975 | 15448568 |
| Focused Large Cap Value Fund G Class | 1600684 | 17383427 |
| Growth Fund G Class | 22616 | 1362171 |
| Heritage Fund G Class | 150335 | 3971860 |
| Mid Cap Value Fund G Class | 267300 | 4132454 |
| Small Cap Growth Fund G Class | 89581 | 2244002 |
|  |  | 67809788 |
| **International Equity Funds — 28.7%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 233409 | 3713536 |
| Avantis International Equity Fund G Class | 900569 | 14733310 |
| Emerging Markets Fund G Class | 266333 | 4474395 |
| Focused International Growth Fund G Class | 263498 | 5309477 |
| Global Real Estate Fund G Class | 233619 | 3226280 |
| International Small-Mid Cap Fund G Class | 172534 | 2222244 |
| International Value Fund G Class | 51956 | 596457 |
| Non-U.S. Intrinsic Value Fund G Class | 444305 | 4878465 |
|  |  | 39154164 |
| **Domestic Fixed Income Funds — 15.2%** |  |  |
| Avantis Core Fixed Income Fund G Class | 1797108 | 15275416 |
| High Income Fund G Class | 451998 | 3973059 |
| Inflation-Adjusted Bond Fund G Class | 136621 | 1449548 |
|  |  | 20698023 |
| **International Fixed Income Funds — 5.2%** |  |  |
| Emerging Markets Debt Fund G Class | 224682 | 2145711 |
| Global Bond Fund G Class | 566226 | 4954478 |
|  |  | 7100189 |
| **Money Market Funds — 1.1%** |  |  |
| U.S. Government Money Market Fund G Class | 1451423 | 1451423 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $117,704,720) |  | **136213587** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2695)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**136210892** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2050 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 54.4%** |  |  |
| Avantis U.S. Equity Fund G Class | 992298 | $21532857 |
| Avantis U.S. Small Cap Value Fund G Class | 132067 | 2449835 |
| Focused Dynamic Growth Fund G Class | 206227 | 17411786 |
| Focused Large Cap Value Fund G Class | 1653020 | 17951798 |
| Heritage Fund G Class | 154084 | 4070911 |
| Mid Cap Value Fund G Class | 274921 | 4250282 |
| Small Cap Growth Fund G Class | 92109 | 2307328 |
|  |  | 69974797 |
| **International Equity Funds — 31.8%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 216794 | 3449190 |
| Avantis International Equity Fund G Class | 938692 | 15357000 |
| Emerging Markets Fund G Class | 308784 | 5187572 |
| Focused International Growth Fund G Class | 271494 | 5470605 |
| Global Real Estate Fund G Class | 238607 | 3295167 |
| International Small-Mid Cap Fund G Class | 181850 | 2342232 |
| Non-U.S. Intrinsic Value Fund G Class | 519063 | 5699315 |
|  |  | 40801081 |
| **Domestic Fixed Income Funds — 9.8%** |  |  |
| Avantis Core Fixed Income Fund G Class | 1098483 | 9337108 |
| High Income Fund G Class | 274003 | 2408486 |
| Inflation-Adjusted Bond Fund G Class | 81104 | 860514 |
|  |  | 12606108 |
| **International Fixed Income Funds — 3.3%** |  |  |
| Emerging Markets Debt Fund G Class | 135201 | 1291169 |
| Global Bond Fund G Class | 342978 | 3001059 |
|  |  | 4292228 |
| **Money Market Funds — 0.7%** |  |  |
| U.S. Government Money Market Fund G Class | 861637 | 861637 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $110,238,899) |  | **128535851** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2592)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**128533259** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2055 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 59.5%** |  |  |
| Avantis U.S. Equity Fund G Class | 786981 | $17077498 |
| Avantis U.S. Small Cap Value Fund G Class | 102620 | 1903600 |
| Focused Dynamic Growth Fund G Class | 164359 | 13876812 |
| Focused Large Cap Value Fund G Class | 1312717 | 14256110 |
| Heritage Fund G Class | 123278 | 3257016 |
| Mid Cap Value Fund G Class | 218074 | 3371420 |
| Small Cap Growth Fund G Class | 73202 | 1833702 |
|  |  | 55576158 |
| **International Equity Funds — 34.1%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 167087 | 2658346 |
| Avantis International Equity Fund G Class | 733722 | 12003691 |
| Emerging Markets Fund G Class | 236517 | 3973490 |
| Focused International Growth Fund G Class | 213830 | 4308672 |
| Global Real Estate Fund G Class | 190651 | 2632890 |
| International Small-Mid Cap Fund G Class | 141499 | 1822503 |
| Non-U.S. Intrinsic Value Fund G Class | 404760 | 4444259 |
|  |  | 31843851 |
| **Domestic Fixed Income Funds — 4.6%** |  |  |
| Avantis Core Fixed Income Fund G Class | 370452 | 3148839 |
| High Income Fund G Class | 91996 | 808644 |
| Inflation-Adjusted Bond Fund G Class | 26679 | 283064 |
|  |  | 4240547 |
| **International Fixed Income Funds — 1.5%** |  |  |
| Emerging Markets Debt Fund G Class | 45189 | 431557 |
| Global Bond Fund G Class | 114572 | 1002504 |
|  |  | 1434061 |
| **Money Market Funds — 0.3%** |  |  |
| U.S. Government Money Market Fund G Class | 292784 | 292784 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $80,058,507) |  | **93387401** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(1982)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**93385419** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2060 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 60.3%** |  |  |
| Avantis U.S. Equity Fund G Class | 760352 | $16499638 |
| Avantis U.S. Small Cap Value Fund G Class | 98410 | 1825497 |
| Focused Dynamic Growth Fund G Class | 158641 | 13394070 |
| Focused Large Cap Value Fund G Class | 1269449 | 13786214 |
| Heritage Fund G Class | 119367 | 3153682 |
| Mid Cap Value Fund G Class | 210269 | 3250758 |
| Small Cap Growth Fund G Class | 70544 | 1767125 |
|  |  | 53676984 |
| **International Equity Funds — 34.8%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 162237 | 2581185 |
| Avantis International Equity Fund G Class | 717992 | 11746350 |
| Emerging Markets Fund G Class | 232737 | 3909979 |
| Focused International Growth Fund G Class | 206411 | 4159179 |
| Global Real Estate Fund G Class | 183864 | 2539159 |
| International Small-Mid Cap Fund G Class | 136231 | 1754649 |
| Non-U.S. Intrinsic Value Fund G Class | 395476 | 4342325 |
|  |  | 31032826 |
| **Domestic Fixed Income Funds — 3.5%** |  |  |
| Avantis Core Fixed Income Fund G Class | 270189 | 2296610 |
| High Income Fund G Class | 67123 | 590014 |
| Inflation-Adjusted Bond Fund G Class | 19934 | 211496 |
|  |  | 3098120 |
| **International Fixed Income Funds — 1.2%** |  |  |
| Emerging Markets Debt Fund G Class | 33392 | 318897 |
| Global Bond Fund G Class | 84378 | 738306 |
|  |  | 1057203 |
| **Money Market Funds — 0.2%** |  |  |
| U.S. Government Money Market Fund G Class | 212238 | 212238 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $77,644,387) |  | **89077371** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2119)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**89075252** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2065 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 60.5%** |  |  |
| Avantis U.S. Equity Fund G Class | 165737 | $3596490 |
| Avantis U.S. Small Cap Value Fund G Class | 21527 | 399332 |
| Focused Dynamic Growth Fund G Class | 34955 | 2951291 |
| Focused Large Cap Value Fund G Class | 275838 | 2995597 |
| Heritage Fund G Class | 26475 | 699477 |
| Mid Cap Value Fund G Class | 46153 | 713522 |
| Small Cap Growth Fund G Class | 15772 | 395093 |
|  |  | 11750802 |
| **International Equity Funds — 34.5%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 34757 | 552978 |
| Avantis International Equity Fund G Class | 154603 | 2529311 |
| Emerging Markets Fund G Class | 50355 | 845968 |
| Focused International Growth Fund G Class | 45374 | 914296 |
| Global Real Estate Fund G Class | 40130 | 554193 |
| International Small-Mid Cap Fund G Class | 29186 | 375909 |
| Non-U.S. Intrinsic Value Fund G Class | 85016 | 933472 |
|  |  | 6706127 |
| **Domestic Fixed Income Funds — 3.5%** |  |  |
| Avantis Core Fixed Income Fund G Class | 59537 | 506066 |
| High Income Fund G Class | 14823 | 130296 |
| Inflation-Adjusted Bond Fund G Class | 4427 | 46974 |
|  |  | 683336 |
| **International Fixed Income Funds — 1.2%** |  |  |
| Emerging Markets Debt Fund G Class | 7353 | 70217 |
| Global Bond Fund G Class | 18693 | 163568 |
|  |  | 233785 |
| **Money Market Funds — 0.3%** |  |  |
| U.S. Government Money Market Fund G Class | 46816 | 46816 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $16,041,482) |  | **19420866** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(270)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**19420596** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Blend+ 2070 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 60.6%** |  |  |
| Avantis U.S. Equity Fund G Class | 2275 | $49371 |
| Avantis U.S. Small Cap Value Fund G Class | 297 | 5516 |
| Focused Dynamic Growth Fund G Class | 480 | 40523 |
| Focused Large Cap Value Fund G Class | 3787 | 41123 |
| Heritage Fund G Class | 365 | 9635 |
| Mid Cap Value Fund G Class | 636 | 9825 |
| Small Cap Growth Fund G Class | 218 | 5457 |
|  |  | 161450 |
| **International Equity Funds — 34.4%** |  |  |
| Avantis Emerging Markets Equity Fund G Class | 472 | 7511 |
| Avantis International Equity Fund G Class | 2117 | 34636 |
| Emerging Markets Fund G Class | 675 | 11344 |
| Focused International Growth Fund G Class | 624 | 12581 |
| Global Real Estate Fund G Class | 553 | 7640 |
| International Small-Mid Cap Fund G Class | 400 | 5153 |
| Non-U.S. Intrinsic Value Fund G Class | 1155 | 12683 |
|  |  | 91548 |
| **Domestic Fixed Income Funds — 3.6%** |  |  |
| Avantis Core Fixed Income Fund G Class | 821 | 6979 |
| High Income Fund G Class | 208 | 1825 |
| Inflation-Adjusted Bond Fund G Class | 63 | 671 |
|  |  | 9475 |
| **International Fixed Income Funds — 1.2%** |  |  |
| Emerging Markets Debt Fund G Class | 104 | 992 |
| Global Bond Fund G Class | 261 | 2282 |
|  |  | 3274 |
| **Money Market Funds — 0.2%** |  |  |
| U.S. Government Money Market Fund G Class | 671 | 671 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $264,828) |  | **266418** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **20** |
| **TOTAL NET ASSETS — 100.0%** |  | $**266438** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+<br>2025 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $61836274 | $81727884 |
| Receivable for investments sold | 79830 | 48153 |
| Receivable for capital shares sold | 16368 | 20312 |
| Distributions receivable from underlying funds | 93185 | 116394 |
|  | 62025657 | 81912743 |
| **Liabilities** |  |  |
| Payable for investments purchased | 93185 | 116394 |
| Payable for capital shares redeemed | 54837 | 17531 |
| Accrued management fees | 25647 | 32358 |
| Distribution and service fees payable | 17056 | 20228 |
|  | 190725 | 186511 |
| **Net Assets** | $61834932 | $81726232 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $57840371 | $74736755 |
| Distributable earnings (loss) | 3994561 | 6989477 |
|  | $61834932 | $81726232 |
| Investment securities - affiliated, at cost | $58540005 | $75841341 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** |
| Investor Class, $0.01 Par Value | $3909280 | 367406 | $10.64 |
| I Class, $0.01 Par Value | $455194 | 42789 | $10.64 |
| A Class, $0.01 Par Value | $26417 | 2484 | $10.63 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $11.28 |
| R Class, $0.01 Par Value | $38975894 | 3665161 | $10.63 |
| R6 Class, $0.01 Par Value | $18468147 | 1734955 | $10.64 |
| **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** |
| Investor Class, $0.01 Par Value | $4969346 | 460919 | $10.78 |
| I Class, $0.01 Par Value | $7468 | 693 | $10.78 |
| A Class, $0.01 Par Value | $48095 | 4462 | $10.78 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $11.44 |
| R Class, $0.01 Par Value | $46504180 | 4316117 | $10.77 |
| R6 Class, $0.01 Par Value | $30197143 | 2800856 | $10.78 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice Blend+**<br>**2030 Portfolio** | **One Choice Blend+**<br>**2035 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $132276279 | $141190128 |
| Receivable for investments sold | 1492821 | 229941 |
| Receivable for capital shares sold | 32696 | 154039 |
| Distributions receivable from underlying funds | 162374 | 145971 |
|  | 133964170 | 141720079 |
| **Liabilities** |  |  |
| Payable for investments purchased | 162374 | 145971 |
| Payable for capital shares redeemed | 1444327 | 294459 |
| Accrued management fees | 51957 | 56445 |
| Distribution and service fees payable | 31887 | 36023 |
|  | 1690545 | 532898 |
| **Net Assets** | $132273625 | $141187181 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $118838235 | $126205617 |
| Distributable earnings (loss) | 13435390 | 14981564 |
|  | $132273625 | $141187181 |
| Investment securities - affiliated, at cost | $121171138 | $128063961 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** |
| Investor Class, $0.01 Par Value | $9563197 | 855946 | $11.17 |
| I Class, $0.01 Par Value | $6563 | 587 | $11.18 |
| A Class, $0.01 Par Value | $163080 | 14591 | $11.18 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $11.86 |
| R Class, $0.01 Par Value | $73096449 | 6539269 | $11.18 |
| R6 Class, $0.01 Par Value | $49444336 | 4421963 | $11.18 |
| **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** |
| Investor Class, $0.01 Par Value | $9953787 | 859722 | $11.58 |
| I Class, $0.01 Par Value | $209940 | 18133 | $11.58 |
| A Class, $0.01 Par Value | $298723 | 25791 | $11.58 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $12.29 |
| R Class, $0.01 Par Value | $83490325 | 7216767 | $11.57 |
| R6 Class, $0.01 Par Value | $47234406 | 4078273 | $11.58 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice Blend+**<br>**2040 Portfolio** | **One Choice Blend+**<br>**2045 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $144959268 | $136213587 |
| Receivable for investments sold | 142075 |  |
| Receivable for capital shares sold | 31185 | 266136 |
| Distributions receivable from underlying funds | 121821 | 85536 |
|  | 145254349 | 136565259 |
| **Liabilities** |  |  |
| Payable for investments purchased | 121821 | 110362 |
| Payable for capital shares redeemed | 77814 | 159152 |
| Accrued management fees | 59283 | 52455 |
| Distribution and service fees payable | 39307 | 32398 |
|  | 298225 | 354367 |
| **Net Assets** | $144956124 | $136210892 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $126469514 | $115401523 |
| Distributable earnings (loss) | 18486610 | 20809369 |
|  | $144956124 | $136210892 |
| Investment securities - affiliated, at cost | $129328902 | $117704720 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** |
| Investor Class, $0.01 Par Value | $10175822 | 852559 | $11.94 |
| I Class, $0.01 Par Value | $26327 | 2205 | $11.94 |
| A Class, $0.01 Par Value | $425695 | 35672 | $11.93 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $12.66 |
| R Class, $0.01 Par Value | $90447784 | 7580581 | $11.93 |
| R6 Class, $0.01 Par Value | $43880496 | 3674265 | $11.94 |
| **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** |
| Investor Class, $0.01 Par Value | $8020724 | 653543 | $12.27 |
| I Class, $0.01 Par Value | $22136 | 1804 | $12.27 |
| A Class, $0.01 Par Value | $724768 | 59075 | $12.27 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $13.02 |
| R Class, $0.01 Par Value | $74285616 | 6057329 | $12.26 |
| R6 Class, $0.01 Par Value | $53157648 | 4331236 | $12.27 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice Blend+**<br>**2050 Portfolio** | **One Choice Blend+**<br>**2055 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $128535851 | $93387401 |
| Receivable for investments sold | 95672 | 374622 |
| Receivable for capital shares sold | 57431 | 62651 |
| Distributions receivable from underlying funds | 52085 | 17573 |
|  | 128741039 | 93842247 |
| **Liabilities** |  |  |
| Payable for investments purchased | 52085 | 17573 |
| Payable for capital shares redeemed | 74476 | 377092 |
| Accrued management fees | 49434 | 37414 |
| Distribution and service fees payable | 31785 | 24749 |
|  | 207780 | 456828 |
| **Net Assets** | $128533259 | $93385419 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $107390578 | $77851755 |
| Distributable earnings (loss) | 21142681 | 15533664 |
|  | $128533259 | $93385419 |
| Investment securities - affiliated, at cost | $110238899 | $80058507 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** |
| Investor Class, $0.01 Par Value | $4970237 | 389490 | $12.76 |
| I Class, $0.01 Par Value | $44717 | 3504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.76 |
| A Class, $0.01 Par Value | $498217 | 39036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.76 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $13.54 |
| R Class, $0.01 Par Value | $73281954 | 5745110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.76 |
| R6 Class, $0.01 Par Value | $49738134 | 3896521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12.76 |
| **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** |
| Investor Class, $0.01 Par Value | $4643465 | 355478 | $13.06 |
| I Class, $0.01 Par Value | $17573 | 1345 | $13.07 |
| A Class, $0.01 Par Value | $199094 | 15250 | $13.06 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $13.86 |
| R Class, $0.01 Par Value | $56663460 | 4341226 | $13.05 |
| R6 Class, $0.01 Par Value | $31861827 | 2436479 | $13.08 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice Blend+**<br>**2060 Portfolio** | **One Choice Blend+**<br>**2065 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $89077371 | $19420866 |
| Receivable for investments sold | 13478 |  |
| Receivable for capital shares sold | 55807 | 142479 |
| Distributions receivable from underlying funds | 12830 | 2753 |
|  | 89159486 | 19566098 |
| **Liabilities** |  |  |
| Payable for investments purchased | 12830 | 136999 |
| Payable for capital shares redeemed | 5016 | 250 |
| Accrued management fees | 38985 | 6817 |
| Distribution and service fees payable | 27403 | 1436 |
|  | 84234 | 145502 |
| **Net Assets** | $89075252 | $19420596 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $75132793 | $15621515 |
| Distributable earnings (loss) | 13942459 | 3799081 |
|  | $89075252 | $19420596 |
| Investment securities - affiliated, at cost | $77644387 | $16041482 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** |
| Investor Class, $0.01 Par Value | $6746319 | 507836 | $13.28 |
| I Class, $0.01 Par Value | $81275 | 6119 | $13.28 |
| A Class, $0.01 Par Value | $224850 | 16935 | $13.28 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $14.09 |
| R Class, $0.01 Par Value | $63240375 | 4767092 | $13.27 |
| R6 Class, $0.01 Par Value | $18782433 | 1414219 | $13.28 |
| **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** |
| Investor Class, $0.01 Par Value | $6221459 | 465049 | $13.38 |
| I Class, $0.01 Par Value | $23833 | 1782 | $13.37 |
| A Class, $0.01 Par Value | $796998 | 59626 | $13.37 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $14.19 |
| R Class, $0.01 Par Value | $3213402 | 240510 | $13.36 |
| R6 Class, $0.01 Par Value | $9164904 | 685213 | $13.38 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | |
|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | |
| | **One Choice Blend+**<br>**2070 Portfolio** |
| **Assets** | |
| Investment securities - affiliated, at value | $266418 |
| Cash | 92 |
| Receivable for capital shares sold | 6242 |
| Distributions receivable from underlying funds | 37 |
|  | 272789 |
| **Liabilities** |  |
| Payable for investments purchased | 6231 |
| Accrued management fees | 90 |
| Distribution and service fees payable | 30 |
|  | 6351 |
| **Net Assets** | $266438 |
| **Net Assets Consist of:** |  |
| Capital (par value and paid-in surplus) | $258661 |
| Distributable earnings (loss) | 7777 |
|  | $266438 |
| Investment securities - affiliated, at cost | $264828 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** |
| Investor Class, $0.01 Par Value | $132814 | 12837 | $10.35 |
| I Class, $0.01 Par Value | $26375 | 2549 | $10.35 |
| A Class, $0.01 Par Value | $26382 | 2549 | $10.35 |
| &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $10.98 |
| R Class, $0.01 Par Value | $54485 | 5267 | $10.34 |
| R6 Class, $0.01 Par Value | $26382 | 2549 | $10.35 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+<br>2025 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $1457884 | $1993520 |
| Interest | 207 | 10 |
|  | 1458091 | 1993530 |
| **Expenses:** |  |  |
| Management fees | 140016 | 182554 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 28 | 51 |
| &nbsp;&nbsp;&nbsp;R Class | 95647 | 114745 |
| Directors' fees and expenses | 837 | 1173 |
|  | 236528 | 298523 |
| **Net investment income (loss)** | 1221563 | 1695007 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 88930 | 263411 |
| Capital gain distributions received from underlying funds | 1459632 | 2143824 |
|  | 1548562 | 2407235 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 794781 | 1328823 |
| **Net realized and unrealized gain (loss) on affiliates** | 2343343 | 3736058 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $3564906 | $5431065 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+**<br>**2030 Portfolio** | **One Choice Blend+**<br>**2035 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $3166245 | $3188772 |
| Interest | 17 | 140 |
|  | 3166262 | 3188912 |
| **Expenses:** |  |  |
| Management fees | 291002 | 308084 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 122 | 375 |
| &nbsp;&nbsp;&nbsp;R Class | 178801 | 197723 |
| Directors' fees and expenses | 1898 | 1899 |
|  | 471823 | 508081 |
| **Net investment income (loss)** | 2694439 | 2680831 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 592772 | 631398 |
| Capital gain distributions received from underlying funds | 3942052 | 4129465 |
|  | 4534824 | 4760863 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 2586144 | 3803530 |
| **Net realized and unrealized gain (loss) on affiliates** | 7120968 | 8564393 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $9815407 | $11245224 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+**<br>**2040 Portfolio** | **One Choice Blend+**<br>**2045 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $3265419 | $3063978 |
| Interest | 27 | 79 |
|  | 3265446 | 3064057 |
| **Expenses:** |  |  |
| Management fees | 323561 | 284201 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 432 | 835 |
| &nbsp;&nbsp;&nbsp;R Class | 214348 | 175314 |
| Directors' fees and expenses | 1969 | 1844 |
|  | 540310 | 462194 |
| **Net investment income (loss)** | 2725136 | 2601863 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 825302 | 823549 |
| Capital gain distributions received from underlying funds | 4242989 | 4107195 |
|  | 5068291 | 4930744 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 5297420 | 5956643 |
| **Net realized and unrealized gain (loss) on affiliates** | 10365711 | 10887387 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $13090847 | $13489250 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+**<br>**2050 Portfolio** | **One Choice Blend+**<br>**2055 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $2837519 | $2031840 |
| Interest | 39 | 3 |
|  | 2837558 | 2031843 |
| **Expenses:** |  |  |
| Management fees | 268788 | 202952 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 414 | 162 |
| &nbsp;&nbsp;&nbsp;R Class | 173059 | 135140 |
| Directors' fees and expenses | 1736 | 1259 |
|  | 443997 | 339513 |
| **Net investment income (loss)** | 2393561 | 1692330 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 903714 | 598772 |
| Capital gain distributions received from underlying funds | 4110351 | 3256804 |
|  | 5014065 | 3855576 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 6156376 | 4845472 |
| **Net realized and unrealized gain (loss) on affiliates** | 11170441 | 8701048 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $13564002 | $10393378 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+**<br>**2060 Portfolio** | **One Choice Blend+**<br>**2065 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $1919313 | $388217 |
| Interest | 19 | 93 |
|  | 1919332 | 388310 |
| **Expenses:** |  |  |
| Management fees | 210351 | 33666 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 166 | 658 |
| &nbsp;&nbsp;&nbsp;R Class | 147369 | 5488 |
| Directors' fees and expenses | 1193 | 231 |
|  | 359079 | 40043 |
| **Net investment income (loss)** | 1560253 | 348267 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 531606 | 65962 |
| Capital gain distributions received from underlying funds | 3124442 | 635551 |
|  | 3656048 | 701513 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 4700730 | 937570 |
| **Net realized and unrealized gain (loss) on affiliates** | 8356778 | 1639083 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $9917031 | $1987350 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | |
|:---|:---|
| **FOR THE PERIOD ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE PERIOD ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice Blend+**<br>**2070 Portfolio**<sup>(1)</sup> |
| **Investment Income (Loss)** | |
| **Income:** | |
| Income distributions from underlying funds | $3828 |
| **Expenses:** |  |
| Management fees | 200 |
| Distribution and service fees: |  |
| &nbsp;&nbsp;&nbsp;A Class | 11 |
| &nbsp;&nbsp;&nbsp;R Class | 46 |
| Directors' fees and expenses | 1 |
|  | 258 |
| **Net investment income (loss)** | 3570 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |
| **Net realized gain (loss) on:** |  |
| Sales of investments in underlying funds | (202) |
| Capital gain distributions received from underlying funds | 6820 |
|  | 6618 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | 1590 |
| **Net realized and unrealized gain (loss) on affiliates** | 8208 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $11778 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Blend+**<br>**In Retirement Portfolio** | **One Choice Blend+**<br>**In Retirement Portfolio** | **One Choice Blend+**<br>**2025 Portfolio** | **One Choice Blend+**<br>**2025 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $1221563 | $699913 | $1695007 | $1223036 |
| Net realized gain (loss) | 1548562 | 499407 | 2407235 | 1239523 |
| Change in net unrealized appreciation (depreciation) | 794781 | 848121 | 1328823 | 1422996 |
| Net increase (decrease) in net assets resulting from operations | 3564906 | 2047441 | 5431065 | 3885555 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (107946) | (61668) | (217609) | (130612) |
| &nbsp;&nbsp;&nbsp;I Class | (12861) | (674) | (341) | (220) |
| &nbsp;&nbsp;&nbsp;A Class | (717) | (543) | (1991) | (1049) |
| &nbsp;&nbsp;&nbsp;R Class | (992722) | (639) | (1814692) | (6331) |
| &nbsp;&nbsp;&nbsp;R6 Class | (595970) | (818087) | (1507738) | (1087376) |
| Decrease in net assets from distributions | (1710216) | (881611) | (3542371) | (1225588) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 6162176 | 36642728 | 3724755 | 41707222 |
| **Net increase (decrease) in net assets** | 8016866 | 37808558 | 5613449 | 44367189 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 53818066 | 16009508 | 76112783 | 31745594 |
| End of period | $61834932 | $53818066 | $81726232 | $76112783 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Blend+**<br>**2030 Portfolio** | **One Choice Blend+**<br>**2030 Portfolio** | **One Choice Blend+**<br>**2035 Portfolio** | **One Choice Blend+**<br>**2035 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $2694439 | $1897368 | $2680831 | $1603931 |
| Net realized gain (loss) | 4534824 | 1124295 | 4760863 | 866602 |
| Change in net unrealized appreciation (depreciation) | 2586144 | 3486805 | 3803530 | 4358956 |
| Net increase (decrease) in net assets resulting from operations | 9815407 | 6508468 | 11245224 | 6829489 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (362491) | (211889) | (371509) | (234518) |
| &nbsp;&nbsp;&nbsp;I Class | (271) | (180) | (1531) | (1027) |
| &nbsp;&nbsp;&nbsp;A Class | (5991) | (412) | (10279) | (5920) |
| &nbsp;&nbsp;&nbsp;R Class | (2523543) | (6988) | (2641376) | (4612) |
| &nbsp;&nbsp;&nbsp;R6 Class | (2231356) | (1514431) | (1860406) | (1149113) |
| Decrease in net assets from distributions | (5123652) | (1733900) | (4885101) | (1395190) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 2313237 | 68907054 | 11925346 | 70607731 |
| **Net increase (decrease) in net assets** | 7004992 | 73681622 | 18285469 | 76042030 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 125268633 | 51587011 | 122901712 | 46859682 |
| End of period | $132273625 | $125268633 | $141187181 | $122901712 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Blend+**<br>**2040 Portfolio** | **One Choice Blend+**<br>**2040 Portfolio** | **One Choice Blend+**<br>**2045 Portfolio** | **One Choice Blend+**<br>**2045 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $2725136 | $1307899 | $2601863 | $1348900 |
| Net realized gain (loss) | 5068291 | 839457 | 4930744 | 1259772 |
| Change in net unrealized appreciation (depreciation) | 5297420 | 5060318 | 5956643 | 5562216 |
| Net increase (decrease) in net assets resulting from operations | 13090847 | 7207674 | 13489250 | 8170888 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (316443) | (212514) | (285299) | (214989) |
| &nbsp;&nbsp;&nbsp;I Class | (971) | (327) | (832) | (740) |
| &nbsp;&nbsp;&nbsp;A Class | (12695) | (4883) | (23931) | (5906) |
| &nbsp;&nbsp;&nbsp;R Class | (2696001) | (16524) | (2353615) | (20073) |
| &nbsp;&nbsp;&nbsp;R6 Class | (1696078) | (1441592) | (2129294) | (1929464) |
| Decrease in net assets from distributions | (4722188) | (1675840) | (4792971) | (2171172) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 10445902 | 78193473 | 9181672 | 63043692 |
| **Net increase (decrease) in net assets** | 18814561 | 83725307 | 17877951 | 69043408 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 126141563 | 42416256 | 118332941 | 49289533 |
| End of period | $144956124 | $126141563 | $136210892 | $118332941 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Blend+**<br>**2050 Portfolio** | **One Choice Blend+**<br>**2050 Portfolio** | **One Choice Blend+**<br>**2055 Portfolio** | **One Choice Blend+**<br>**2055 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $2393561 | $1092141 | $1692330 | $615790 |
| Net realized gain (loss) | 5014065 | 762821 | 3855576 | 673754 |
| Change in net unrealized appreciation (depreciation) | 6156376 | 5988839 | 4845472 | 4342143 |
| Net increase (decrease) in net assets resulting from operations | 13564002 | 7843801 | 10393378 | 5631687 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (178379) | (111201) | (156964) | (74550) |
| &nbsp;&nbsp;&nbsp;I Class | (1688) | (723) | (677) | (193) |
| &nbsp;&nbsp;&nbsp;A Class | (12462) | (5871) | (5896) | (1827) |
| &nbsp;&nbsp;&nbsp;R Class | (2264362) | (10938) | (1707976) | (10531) |
| &nbsp;&nbsp;&nbsp;R6 Class | (1951344) | (1359407) | (1196904) | (809623) |
| Decrease in net assets from distributions | (4408235) | (1488140) | (3068417) | (896724) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 7448462 | 63575109 | 5726338 | 48709431 |
| **Net increase (decrease) in net assets** | 16604229 | 69930770 | 13051299 | 53444394 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 111929030 | 41998260 | 80334120 | 26889726 |
| End of period | $128533259 | $111929030 | $93385419 | $80334120 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Blend+**<br>**2060 Portfolio** | **One Choice Blend+**<br>**2060 Portfolio** | **One Choice Blend+**<br>**2065 Portfolio** | **One Choice Blend+**<br>**2065 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $1560253 | $429427 | $348267 | $200130 |
| Net realized gain (loss) | 3656048 | 328353 | 701513 | 160672 |
| Change in net unrealized appreciation (depreciation) | 4700730 | 3884812 | 937570 | 1153234 |
| Net increase (decrease) in net assets resulting from operations | 9917031 | 4642592 | 1987350 | 1514036 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (221190) | (117986) | (168156) | (78507) |
| &nbsp;&nbsp;&nbsp;I Class | (2739) | (743) | (697) | (205) |
| &nbsp;&nbsp;&nbsp;A Class | (5728) | (911) | (19317) | (3282) |
| &nbsp;&nbsp;&nbsp;R Class | (1696994) | (7284) | (55564) | (12346) |
| &nbsp;&nbsp;&nbsp;R6 Class | (645676) | (507002) | (267745) | (112892) |
| Decrease in net assets from distributions | (2572327) | (633926) | (511479) | (207232) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 6657325 | 53214740 | 3979714 | 4036354 |
| **Net increase (decrease) in net assets** | 14002029 | 57223406 | 5455585 | 5343158 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 75073223 | 17849817 | 13965011 | 8621853 |
| End of period | $89075252 | $75073223 | $19420596 | $13965011 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | |
|:---|:---|
| **PERIOD ENDED JANUARY 31, 2026 (UNAUDITED)** | **PERIOD ENDED JANUARY 31, 2026 (UNAUDITED)** |
| **Increase (Decrease) in Net Assets** | **One Choice Blend+**<br>**2070 Portfolio**<sup>(1)</sup> |
| **Operations** | |
| Net investment income (loss) | $3570 |
| Net realized gain (loss) | 6618 |
| Change in net unrealized appreciation (depreciation) | 1590 |
| Net increase (decrease) in net assets resulting from operations | 11778 |
| **Distributions to Shareholders** |  |
| From earnings: |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (1535) |
| &nbsp;&nbsp;&nbsp;I Class | (483) |
| &nbsp;&nbsp;&nbsp;A Class | (473) |
| &nbsp;&nbsp;&nbsp;R Class | (1024) |
| &nbsp;&nbsp;&nbsp;R6 Class | (486) |
| Decrease in net assets from distributions | (4001) |
| **Capital Share Transactions** |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 258661 |
| **Net increase (decrease) in net assets** | 266438 |
| **Net Assets** |  |
| End of period | $266438 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

See Notes to Financial Statements.

------

Notes to Financial Statements

**JANUARY 31, 2026 (UNAUDITED)**

**1. Organization**

American Century Asset Allocation Portfolios, 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. Each fund operates as a fund of funds, meaning that it seeks to achieve its objective by investing in other mutual funds and exchange-traded funds advised by American Century Investments (the underlying funds) that represent a variety of asset classes and investment styles. Additional information and attributes of each underlying fund are available at americancentury.com or avantisinvestors.com. The financial statements herein relate to the following funds and the respective share classes offered by the corporation.

---

| | |
|:---|:---|
| One Choice Blend+ In Retirement Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2025 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2030 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2035 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2040 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2045 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2050 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2055 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2060 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2065 Portfolio | Investor, I, A, R, R6 |
| One Choice Blend+ 2070 Portfolio | Investor, I, A, R, R6 |

---

All classes of One Choice Blend+ 2070 Portfolio commenced sale on December 1, 2025, the fund's inception date.

Each fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the funds serves as the chief operating decision maker (CODM). A fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the funds in preparation of their financial statements. Each 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 —** Each 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 a fund's investments 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. Open-end management investment companies are valued at their reported NAV per share. Exchange-traded funds are listed or traded on a domestic securities exchange and are valued at the last reported sales price or at the official closing price as provided by the exchange.

**Fair Value Measurements —** The investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by a fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

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

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

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

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

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

------

**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 —** Income and capital gain distributions, if any, from the underlying funds are recorded as of the ex-dividend date. Long-term capital gain distributions, if any, from the underlying funds are a component of net realized gain (loss). Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes paydown gain (loss) and accretion of discounts and amortization of premiums.

**Income Tax Status —** It is each 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. A fund files U.S. federal, state, local and non-U.S. tax returns as applicable. A 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 a 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 a fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions to shareholders are recorded on the ex-dividend date in a manner consistent with provisions of the 1940 Act. A 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). Distributions from net investment income and 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 a fund. In addition, in the normal course of business, a fund may enter 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. ACIM serves as the investment advisor for the underlying funds.

**Management Fees —** The corporation has entered into a management agreement with ACIM, under which ACIM provides each 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 a 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 the daily net assets of each class 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 a fund's assets, which do not vary by class.

The annual management fee for each class of each fund is as follows:

---

| | | |
|:---|:---|:---|
| **Investor, A, and R Classes** | **I Class** | **R6 Class** |
| 0.58% | 0.38% | 0.23% |

---

**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 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 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 January 31, 2026 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 funds. The directors receive detailed information about the funds and their investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The funds' officers do not receive compensation from the funds.

**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.

**Related Party Ownership —** A related party, including other funds advised by American Century Investments, may own outstanding shares of a fund. Related parties do not invest in a fund for the purpose of exercising management or control. As of period end, related parties with ownership of 5% or more of the outstanding shares of a fund are as follows:

---

| | | |
|:---|:---|:---|
| | **Related Party** | **% of Outstanding Shares** |
| One Choice Blend+ 2070 Portfolio | American Century Investment Management, Inc. (ACIM) | 49% |

---

------

**4. Investment Transactions**

Investment transactions for the period ended January 31, 2026 were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice Blend+ <br>In Retirement Portfolio** | **One Choice Blend+**<br>**2025 Portfolio** | **One Choice Blend+**<br>**2030 Portfolio** | **One Choice Blend+**<br>**2035 Portfolio** | **One Choice Blend+**<br>**2040 Portfolio** |
| Purchases | $15951846 | $15992396 | $28614801 | $29994450 | $28010010 |
| Sales | $8817349 | $11969529 | $24786071 | $16140962 | $15315027 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **One Choice Blend+**<br>**2045 Portfolio** | **One Choice Blend+**<br>**2050 Portfolio** | **One Choice Blend+**<br>**2055 Portfolio** | **One Choice Blend+**<br>**2060 Portfolio** | **One Choice Blend+**<br>**2065 Portfolio** | **One Choice Blend+**<br>**2070 Portfolio**<sup>(1)</sup> |
| Purchases | $24782891 | $23222323 | $18517214 | $19234470 | $5945525 | $274306 |
| Sales | $13682437 | $13675592 | $10908177 | $10462658 | $1493202 | $9276 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

**5. Capital Share Transactions** 

The corporation is authorized to issue 6,000,000,000 shares. Transactions in shares of the funds were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ In Retirement Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 187941 | $1998651 | 126203 | $1291745 |
| Issued in connection with reorganization (Note 8) |  |  | 82364 | 783228 |
| Issued in reinvestment of distributions | 9578 | 100285 | 5077 | 48893 |
| Redeemed | (83842) | (892034) | (34542) | (351445) |
|  | 113677 | 1206902 | 179102 | 1772421 |
| **I Class** |  |  |  |  |
| Sold | 6012 | 63714 | 8 | 92 |
| Issued in connection with reorganization (Note 8) |  |  | 36006 | 342529 |
| Issued in reinvestment of distributions | 1228 | 12861 | 70 | 673 |
| Redeemed | (1722) | (18036) |  |  |
|  | 5518 | 58539 | 36084 | 343294 |
| **A Class** |  |  |  |  |
| Sold | 1016 | 10852 | 136 | 1371 |
| Issued in connection with reorganization (Note 8) |  |  | 558 | 5309 |
| Issued in reinvestment of distributions | 69 | 717 | 56 | 543 |
| Redeemed | (418) | (4460) |  |  |
|  | 667 | 7109 | 750 | 7223 |
| **R Class** |  |  |  |  |
| Sold | 216694 | 2290512 | 3601456 | 36277102 |
| Issued in connection with reorganization (Note 8) |  |  | 948 | 9020 |
| Issued in reinvestment of distributions | 94816 | 992722 | 66 | 639 |
| Redeemed | (197550) | (2090876) | (52593) | (537226) |
|  | 113960 | 1192358 | 3549877 | 35749535 |
| **R6 Class** |  |  |  |  |
| Sold | 588900 | 6301824 | 369876 | 3727212 |
| Issued in connection with reorganization (Note 8) |  |  | 141381 | 1344979 |
| Issued in reinvestment of distributions | 56922 | 595970 | 84671 | 818087 |
| Redeemed | (302444) | (3200526) | (708493) | (7120023) |
|  | 343378 | 3697268 | (112565) | (1229745) |
| Net increase (decrease) | 577200 | $6162176 | 3653248 | $36642728 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2025 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 81120 | $879288 | 180596 | $1814499 |
| Issued in reinvestment of distributions | 20497 | 217065 | 13260 | 130612 |
| Redeemed | (55805) | (607858) | (183580) | (1877327) |
|  | 45812 | 488495 | 10276 | 67784 |
| **I Class** |  |  |  |  |
| Sold | 2 | 15 | 93 | 950 |
| Issued in reinvestment of distributions | 32 | 341 | 22 | 220 |
|  | 34 | 356 | 115 | 1170 |
| **A Class** |  |  |  |  |
| Sold | 1241 | 13626 | 224 | 2455 |
| Issued in reinvestment of distributions | 188 | 1991 | 107 | 1049 |
| Redeemed |  |  | (225) | (2517) |
|  | 1429 | 15617 | 106 | 987 |
| **R Class** |  |  |  |  |
| Sold | 318557 | 3433453 | 4261899 | 43816239 |
| Issued in reinvestment of distributions | 171359 | 1814692 | 643 | 6330 |
| Redeemed | (279097) | (3017625) | (166070) | (1736357) |
|  | 210819 | 2230520 | 4096472 | 42086212 |
| **R6 Class** |  |  |  |  |
| Sold | 318274 | 3488855 | 1393123 | 14117281 |
| Issued in reinvestment of distributions | 142374 | 1507738 | 110506 | 1087376 |
| Redeemed | (370260) | (4006826) | (1522362) | (15653588) |
|  | 90388 | 989767 | (18733) | (448931) |
| Net increase (decrease) | 348482 | $3724755 | 4088236 | $41707222 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2030 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 167304 | $1854794 | 312767 | $3248138 |
| Issued in reinvestment of distributions | 32873 | 359625 | 21083 | 211889 |
| Redeemed | (50540) | (563922) | (212159) | (2191454) |
|  | 149637 | 1650497 | 121691 | 1268573 |
| **I Class** |  |  |  |  |
| Issued in reinvestment of distributions | 25 | 271 | 18 | 180 |
| **A Class** |  |  |  |  |
| Sold | 12923 | 145854 | 897 | 9254 |
| Issued in reinvestment of distributions | 547 | 5991 | 41 | 412 |
| Redeemed | (909) | (10278) | (2) | (25) |
|  | 12561 | 141567 | 936 | 9641 |
| **R Class** |  |  |  |  |
| Sold | 611146 | 6760257 | 6320873 | 66454664 |
| Issued in reinvestment of distributions | 230250 | 2523543 | 695 | 6988 |
| Redeemed | (519639) | (5778462) | (125166) | (1328087) |
|  | 321757 | 3505338 | 6196402 | 65133565 |
| **R6 Class** |  |  |  |  |
| Sold | 665802 | 7517710 | 1201980 | 12418730 |
| Issued in reinvestment of distributions | 203777 | 2231356 | 150690 | 1514431 |
| Redeemed | (1140860) | (12733502) | (1104479) | (11438066) |
|  | (271281) | (2984436) | 248191 | 2495095 |
| Net increase (decrease) | 212699 | $2313237 | 6567238 | $68907054 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2035 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 92194 | $1057231 | 489018 | $5170405 |
| Issued in reinvestment of distributions | 32877 | 371509 | 22925 | 234518 |
| Redeemed | (75838) | (864490) | (486552) | (5107923) |
|  | 49233 | 564250 | 25391 | 297000 |
| **I Class** |  |  |  |  |
| Sold | 14743 | 169241 | 353 | 3650 |
| Issued in reinvestment of distributions | 135 | 1531 | 100 | 1027 |
| Redeemed |  |  | (362) | (3428) |
|  | 14878 | 170772 | 91 | 1249 |
| **A Class** |  |  |  |  |
| Sold | 2352 | 27156 | 25527 | 267303 |
| Issued in reinvestment of distributions | 910 | 10279 | 578 | 5920 |
| Redeemed | (13425) | (151097) | (2885) | (29873) |
|  | (10163) | (113662) | 23220 | 243350 |
| **R Class** |  |  |  |  |
| Sold | 660867 | 7570669 | 6821833 | 73081490 |
| Issued in reinvestment of distributions | 233957 | 2641376 | 451 | 4612 |
| Redeemed | (370397) | (4245877) | (158794) | (1718353) |
|  | 524427 | 5966168 | 6663490 | 71367749 |
| **R6 Class** |  |  |  |  |
| Sold | 780008 | 9017429 | 1594501 | 16835180 |
| Issued in reinvestment of distributions | 164784 | 1860406 | 112328 | 1149113 |
| Redeemed | (480479) | (5540017) | (1813454) | (19285910) |
|  | 464313 | 5337818 | (106625) | (1301617) |
| Net increase (decrease) | 1042688 | $11925346 | 6605567 | $70607731 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2040 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 363392 | $4282903 | 282970 | $3072189 |
| Issued in reinvestment of distributions | 27195 | 315193 | 20513 | 212514 |
| Redeemed | (233423) | (2755367) | (117340) | (1267559) |
|  | 157164 | 1842729 | 186143 | 2017144 |
| **I Class** |  |  |  |  |
| Sold | 1298 | 14899 | 9 | 100 |
| Issued in reinvestment of distributions | 84 | 971 | 32 | 327 |
|  | 1382 | 15870 | 41 | 427 |
| **A Class** |  |  |  |  |
| Sold | 11254 | 133276 | 13116 | 141668 |
| Issued in reinvestment of distributions | 1095 | 12695 | 471 | 4883 |
| Redeemed | (1074) | (12807) | (1027) | (10658) |
|  | 11275 | 133164 | 12560 | 135893 |
| **R Class** |  |  |  |  |
| Sold | 709020 | 8277827 | 6954270 | 75623949 |
| Issued in reinvestment of distributions | 232614 | 2696001 | 1595 | 16524 |
| Redeemed | (282199) | (3333038) | (76912) | (843768) |
|  | 659435 | 7640790 | 6878953 | 74796705 |
| **R6 Class** |  |  |  |  |
| Sold | 349028 | 4125191 | 995596 | 10569394 |
| Issued in reinvestment of distributions | 146340 | 1696078 | 139150 | 1441592 |
| Redeemed | (429372) | (5007920) | (1003113) | (10767682) |
|  | 65996 | 813349 | 131633 | 1243304 |
| Net increase (decrease) | 895252 | $10445902 | 7209330 | $78193473 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2045 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 143602 | $1736748 | 134829 | $1458534 |
| Issued in reinvestment of distributions | 24015 | 285299 | 20417 | 214989 |
| Redeemed | (50343) | (608268) | (60624) | (648670) |
|  | 117274 | 1413779 | 94622 | 1024853 |
| **I Class** |  |  |  |  |
| Sold | 93 | 1117 |  |  |
| Issued in reinvestment of distributions | 70 | 832 | 70 | 740 |
|  | 163 | 1949 | 70 | 740 |
| **A Class** |  |  |  |  |
| Sold | 4406 | 53482 | 53184 | 574470 |
| Issued in reinvestment of distributions | 2014 | 23931 | 561 | 5906 |
| Redeemed | (574) | (6982) | (4068) | (42617) |
|  | 5846 | 70431 | 49677 | 537759 |
| **R Class** |  |  |  |  |
| Sold | 612849 | 7356174 | 5795774 | 64180540 |
| Issued in reinvestment of distributions | 198283 | 2353615 | 1906 | 20073 |
| Redeemed | (342569) | (4116893) | (254932) | (2842983) |
|  | 468563 | 5592896 | 5542748 | 61357630 |
| **R6 Class** |  |  |  |  |
| Sold | 358935 | 4330741 | 849957 | 9179746 |
| Issued in reinvestment of distributions | 179385 | 2129294 | 183235 | 1929464 |
| Redeemed | (363128) | (4357418) | (1004640) | (10986500) |
|  | 175192 | 2102617 | 28552 | 122710 |
| Net increase (decrease) | 767038 | $9181672 | 5715669 | $63043692 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2050 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 57691 | $717942 | 109873 | $1206105 |
| Issued in reinvestment of distributions | 14490 | 178379 | 10287 | 111201 |
| Redeemed | (48957) | (614027) | (56346) | (613068) |
|  | 23224 | 282294 | 63814 | 704238 |
| **I Class** |  |  |  |  |
| Sold | 1318 | 16518 | 1451 | 16270 |
| Issued in reinvestment of distributions | 137 | 1688 | 67 | 723 |
| Redeemed | (14) | (170) |  |  |
|  | 1441 | 18036 | 1518 | 16993 |
| **A Class** |  |  |  |  |
| Sold | 21528 | 270230 | 14506 | 158260 |
| Issued in reinvestment of distributions | 1012 | 12462 | 543 | 5871 |
| Redeemed | (5064) | (62618) | (1265) | (14068) |
|  | 17476 | 220074 | 13784 | 150063 |
| **R Class** |  |  |  |  |
| Sold | 512903 | 6353884 | 5411285 | 61711788 |
| Issued in reinvestment of distributions | 183796 | 2264362 | 1012 | 10938 |
| Redeemed | (306230) | (3799643) | (98369) | (1139435) |
|  | 390469 | 4818603 | 5313928 | 60583291 |
| **R6 Class** |  |  |  |  |
| Sold | 472852 | 5900361 | 1013078 | 11157223 |
| Issued in reinvestment of distributions | 158517 | 1951344 | 125754 | 1359407 |
| Redeemed | (467624) | (5742250) | (938930) | (10396106) |
|  | 163745 | 2109455 | 199902 | 2120524 |
| Net increase (decrease) | 596355 | $7448462 | 5592946 | $63575109 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2055 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 60674 | $770124 | 135403 | $1539368 |
| Issued in reinvestment of distributions | 12487 | 156964 | 6808 | 74550 |
| Redeemed | (27537) | (348879) | (41688) | (475526) |
|  | 45624 | 578209 | 100523 | 1138392 |
| **I Class** |  |  |  |  |
| Sold | 806 | 10356 |  |  |
| Issued in reinvestment of distributions | 54 | 677 | 18 | 193 |
| Redeemed | (77) | (998) |  |  |
|  | 783 | 10035 | 18 | 193 |
| **A Class** |  |  |  |  |
| Sold | 11620 | 149159 | 4754 | 53331 |
| Issued in reinvestment of distributions | 469 | 5896 | 167 | 1827 |
| Redeemed | (2775) | (36361) | (1758) | (19790) |
|  | 9314 | 118694 | 3163 | 35368 |
| **R Class** |  |  |  |  |
| Sold | 411665 | 5183684 | 4174772 | 48260438 |
| Issued in reinvestment of distributions | 135877 | 1707976 | 962 | 10531 |
| Redeemed | (302417) | (3835778) | (113858) | (1342590) |
|  | 245125 | 3055882 | 4061876 | 46928379 |
| **R6 Class** |  |  |  |  |
| Sold | 382688 | 4881779 | 679190 | 7513561 |
| Issued in reinvestment of distributions | 95144 | 1196904 | 73938 | 809623 |
| Redeemed | (328294) | (4115165) | (680051) | (7716085) |
|  | 149538 | 1963518 | 73077 | 607099 |
| Net increase (decrease) | 450384 | $5726338 | 4238657 | $48709431 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2060 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 109442 | $1381804 | 179822 | $2047467 |
| Issued in reinvestment of distributions | 17279 | 220824 | 10649 | 117986 |
| Redeemed | (55763) | (719878) | (33156) | (374926) |
|  | 70958 | 882750 | 157315 | 1790527 |
| **I Class** |  |  |  |  |
| Sold | 4012 | 49949 | 3570 | 40422 |
| Issued in reinvestment of distributions | 215 | 2739 | 67 | 743 |
| Redeemed | (421) | (5367) | (2586) | (29969) |
|  | 3806 | 47321 | 1051 | 11196 |
| **A Class** |  |  |  |  |
| Sold | 13001 | 169053 | 3150 | 36564 |
| Issued in reinvestment of distributions | 448 | 5728 | 82 | 911 |
| Redeemed | (1062) | (13760) | (533) | (6244) |
|  | 12387 | 161021 | 2699 | 31231 |
| **R Class** |  |  |  |  |
| Sold | 615972 | 7838226 | 4357528 | 50970820 |
| Issued in reinvestment of distributions | 132889 | 1696994 | 658 | 7284 |
| Redeemed | (279067) | (3578472) | (84702) | (1004610) |
|  | 469794 | 5956748 | 4273484 | 49973494 |
| **R6 Class** |  |  |  |  |
| Sold | 224862 | 2895133 | 497194 | 5540020 |
| Issued in reinvestment of distributions | 50562 | 645676 | 45800 | 507002 |
| Redeemed | (310229) | (3931324) | (407054) | (4638730) |
|  | (34805) | (390515) | 135940 | 1408292 |
| Net increase (decrease) | 522140 | $6657325 | 4570489 | $53214740 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended January 31, 2026** | **Six months ended January 31, 2026** | **Year ended July 31, 2025** | **Year ended July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2065 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 69890 | $902579 | 147186 | $1662309 |
| Issued in reinvestment of distributions | 13066 | 168156 | 7060 | 78507 |
| Redeemed | (36554) | (470706) | (53790) | (613880) |
|  | 46402 | 600029 | 100456 | 1126936 |
| **I Class** |  |  |  |  |
| Sold | 542 | 7041 | 621 | 6910 |
| Issued in reinvestment of distributions | 54 | 697 | 19 | 205 |
| Redeemed | (3) | (37) |  |  |
|  | 593 | 7701 | 640 | 7115 |
| **A Class** |  |  |  |  |
| Sold | 40747 | 529511 | 9893 | 111356 |
| Issued in reinvestment of distributions | 1502 | 19317 | 296 | 3282 |
| Redeemed | (2538) | (32796) | (3078) | (37176) |
|  | 39711 | 516032 | 7111 | 77462 |
| **R Class** |  |  |  |  |
| Sold | 167895 | 2163594 | 71811 | 842212 |
| Issued in reinvestment of distributions | 4321 | 55564 | 1111 | 12346 |
| Redeemed | (55612) | (714666) | (16386) | (185154) |
|  | 116604 | 1504492 | 56536 | 669404 |
| **R6 Class** |  |  |  |  |
| Sold | 162361 | 2105524 | 321511 | 3621686 |
| Issued in reinvestment of distributions | 20820 | 267745 | 10161 | 112892 |
| Redeemed | (80016) | (1021809) | (138917) | (1579141) |
|  | 103165 | 1351460 | 192755 | 2155437 |
| Net increase (decrease) | 306475 | $3979714 | 357498 | $4036354 |

---

------

---

| | | |
|:---|:---|:---|
| | **Period ended** <br>**January 31, 2026**<sup>(1)</sup> | **Period ended** <br>**January 31, 2026**<sup>(1)</sup> |
| | **Shares** | **Amount** |
|<br>**One Choice Blend+ 2070 Portfolio** | | |
| **Investor Class** | | |
| Sold | 13561 | $136959 |
| Issued in reinvestment of distributions | 154 | 1535 |
| Redeemed | (878) | (9006) |
|  | 12837 | 129488 |
| **I Class** |  |  |
| Sold | 2500 | 25000 |
| Issued in reinvestment of distributions | 49 | 483 |
|  | 2549 | 25483 |
| **A Class** |  |  |
| Sold | 2502 | 25012 |
| Issued in reinvestment of distributions | 47 | 473 |
|  | 2549 | 25485 |
| **R Class** |  |  |
| Sold | 6041 | 60697 |
| Issued in reinvestment of distributions | 103 | 1024 |
| Redeemed | (877) | (9002) |
|  | 5267 | 52719 |
| **R6 Class** |  |  |
| Sold | 2500 | 25000 |
| Issued in reinvestment of distributions | 49 | 486 |
|  | 2549 | 25486 |
| Net increase (decrease) | 25751 | $258661 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

**6. Risk Factors**

The overall risk profile of a fund will be impacted by the underlying funds' investment strategies, including the investment vehicles and techniques utilized to manage each portfolio. The net asset value of a fund will go up and down based on the performance of the underlying funds in which it invests. The value of the underlying funds' shares will, in turn, fluctuate based on the performance of the securities they own and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of a 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.

**7. Federal Tax Information**

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 components of investments for federal income tax purposes were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice<br>Blend+<br>In Retirement Portfolio** | **One Choice<br>Blend+<br>2025 Portfolio** | **One Choice<br>Blend+<br>2030 Portfolio** | **One Choice<br>Blend+<br>2035 Portfolio** | **One Choice<br>Blend+<br>2040 Portfolio** |
| Federal tax cost of investments | $59373766 | $77031608 | $123021980 | $130494206 | $130858199 |
| Gross tax appreciation of investments | $2500236 | $4722118 | $9333844 | $10899735 | $14407154 |
| Gross tax depreciation of investments | (37728) | (25842) | (79545) | (203813) | (306085) |
| Net tax appreciation (depreciation) of investments | $2462508 | $4696276 | $9254299 | $10695922 | $14101069 |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **One Choice<br>Blend+<br>2045 Portfolio** | **One Choice<br>Blend+<br>2050 Portfolio** | **One Choice<br>Blend+<br>2055 Portfolio** | **One Choice<br>Blend+<br>2060 Portfolio** | **One Choice<br>Blend+<br>2065 Portfolio** | **One Choice<br>Blend+<br>2070 Portfolio** |
| Federal tax cost of investments | $119633057 | $111522313 | $81135286 | $78242636 | $16252597 | $265125 |
| Gross tax appreciation of investments | $16876457 | $17264149 | $12502798 | $11152817 | $3185561 | $5436 |
| Gross tax depreciation of investments | (295927) | (250611) | (250683) | (318082) | (17292) | (4143) |
| Net tax appreciation (depreciation) of investments | $16580530 | $17013538 | $12252115 | $10834735 | $3168269 | $1293 |

---

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

**8. Reorganization**

On December 5, 2024, the Board of Directors approved an agreement and plan of reorganization (the reorganization), whereby the net assets of One Choice® Blend+ 2015 Portfolio, one fund in a series issued by the corporation, were transferred to One Choice® Blend+ 2020 Portfolio in exchange for shares of One Choice Blend+ 2020 Portfolio. At the time of the reorganization, One Choice Blend+ 2020 Portfolio was renamed One Choice Blend+ In Retirement Portfolio. The purpose of the transaction was to combine two funds with substantially similar investment objectives and strategies. The financial statements and performance history of One Choice Blend+ In Retirement Portfolio survived after the reorganization. The reorganization was effective at the close of the NYSE on April 11, 2025.

The reorganization was accomplished by a tax-free exchange of shares. On April 11, 2025, One Choice Blend+ 2015 Portfolio exchanged its shares for shares of One Choice Blend+ In Retirement Portfolio as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Original Fund/Class** | **Shares Exchanged** | **New Fund/Class** | **Shares Received** |
| One Choice Blend+ 2015 Portfolio - Investor Class | 82712 | One Choice Blend+ In Retirement Portfolio - Investor Class | 82364 |
| One Choice Blend+ 2015 Portfolio - I Class | 36196 | One Choice Blend+ In Retirement Portfolio - I Class | 36006 |
| One Choice Blend+ 2015 Portfolio - A Class | 561 | One Choice Blend+ In Retirement Portfolio - A Class | 558 |
| One Choice Blend+ 2015 Portfolio - R Class | 953 | One Choice Blend+ In Retirement Portfolio - R Class | 948 |
| One Choice Blend+ 2015 Portfolio - R6 Class | 142128 | One Choice Blend+ In Retirement Portfolio - R6 Class | 141381 |

---

The net assets of One Choice Blend+ 2015 Portfolio and One Choice Blend+ In Retirement Portfolio immediately before the reorganization were $2,485,065 and $16,071,135, respectively. One Choice Blend+ 2015 Portfolio's unrealized appreciation of $141,259 was combined with that of One Choice Blend+ In Retirement Portfolio. Immediately after the reorganization, the combined net assets were $18,556,200.

**9. Investments in Underlying Funds**

The funds do not invest in the underlying funds for the purpose of exercising management or control; however, investments by the funds within their investment strategies may represent a significant portion of the underlying funds' net assets.

------

**10. Affiliated Fund Transactions**

A summary of transactions for each underlying fund for the period ended January 31, 2026 follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** | **One Choice Blend+ In Retirement Portfolio (Amounts in thousands)** |
| Avantis Core Fixed Income Fund | $14853 | $2819 | $2249 | $199 | $15622 | 1838 | $7 | $346 |
| High Income Fund | 2032 | 329 | 143 | 16 | 2234 | 254 | 1 | 76 |
| Inflation-Adjusted Bond Fund | 2690 | 412 | 509 | 6 | 2599 | 245 | 2 | 60 |
| Short Duration Fund | 3379 | 571 | 242 | 17 | 3725 | 377 | 1 | 86 |
| Short Duration Inflation Protection Bond Fund | 3370 | 974 | 205 | (43) | 4096 | 388 | 1 | 122 |
| Avantis U.S. Equity Fund | 4245 | 562 | 1101 | 301 | 4007 | 185 | 87 | 109 |
| Avantis U.S. Small Cap Value Fund | 428 | 137 | 80 | 49 | 534 | 29 | 5 | 36 |
| Focused Large Cap Value Fund | 4595 | 1836 | 711 | 30 | 5750 | 529 | (6) | 610 |
| Growth Fund | 4083 | 2006 | 785 | (385) | 4919 | 82 | (35) | 670 |
| Heritage Fund | 229 | 97 | 5 | (50) | 271 | 10 |  | 40 |
| Mid Cap Value Fund | 827 | 315 | 80 | (40) | 1022 | 66 | (1) | 126 |
| Small Cap Growth Fund | 431 | 135 | 54 | 5 | 517 | 21 | 1 | 33 |
| Emerging Markets Debt Fund | 674 | 94 | 54 | 29 | 743 | 78 | 1 | 28 |
| Global Bond Fund | 6756 | 1262 | 1663 | (48) | 6307 | 721 | 5 | 244 |
| Avantis International Equity Fund | 2172 | 1731 | 507 | 459 | 3855 | 236 | 17 | 131 |
| Focused International Growth Fund | 1172 | 298 | 104 | 76 | 1442 | 72 | 1 | 15 |
| Global Real Estate Fund | 499 | 135 | 32 | 23 | 625 | 45 |  | 24 |
| International Value Fund | 1383 | 376 | 200 | 151 | 1710 | 149 | 2 | 150 |
| U.S. Government Money Market Fund |  | 1863 | 5 |  | 1858 | 1858 |  | 12 |
|  | $53818 | $15952 | $8729 | $795 | $61836 | 7183 | $89 | $2918 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2025 Portfolio (Amounts in thousands)** |
| Avantis Core Fixed Income Fund | $19819 | $2134 | $2642 | $274 | $19585 | 2304 | $13 | $456 |
| High Income Fund | 3474 | 252 | 249 | 26 | 3503 | 399 | 2 | 127 |
| Inflation-Adjusted Bond Fund | 3463 | 227 | 545 | 9 | 3154 | 297 | 6 | 75 |
| Short Duration Fund | 3038 | 407 | 162 | 15 | 3298 | 334 |  | 79 |
| Short Duration Inflation Protection Bond Fund | 3706 | 923 | 189 | (45) | 4395 | 417 | (1) | 133 |
| Avantis U.S. Equity Fund | 7181 | 589 | 2015 | 489 | 6244 | 288 | 160 | 173 |
| Avantis U.S. Small Cap Value Fund | 694 | 157 | 135 | 79 | 795 | 43 | 5 | 56 |
| Focused Large Cap Value Fund | 6941 | 2020 | 981 | 45 | 8025 | 739 | 9 | 868 |
| Growth Fund | 6321 | 2059 | 883 | (542) | 6955 | 115 | (19) | 970 |
| Heritage Fund | 586 | 170 | 30 | (114) | 612 | 23 | (2) | 92 |
| Mid Cap Value Fund | 1320 | 386 | 149 | (55) | 1502 | 97 | (4) | 188 |
| Small Cap Growth Fund | 697 | 138 | 70 | 9 | 774 | 31 | 1 | 49 |
| Avantis Emerging Markets Equity Fund | 484 | 21 | 98 | 64 | 471 | 30 | 12 | 18 |
| Avantis International Equity Fund | 3426 | 2460 | 988 | 690 | 5588 | 342 | 47 | 196 |
| Focused International Growth Fund | 1869 | 286 | 189 | 115 | 2081 | 103 | 5 | 23 |
| Global Real Estate Fund | 836 | 131 | 41 | 39 | 965 | 70 |  | 39 |
| International Small-Mid Cap Fund | 137 | 12 | 29 | 16 | 136 | 11 | 3 | 4 |
| International Value Fund | 2131 | 456 | 379 | 222 | 2430 | 212 | 14 | 218 |
| Emerging Markets Debt Fund | 1290 | 77 | 134 | 54 | 1287 | 135 | 1 | 49 |
| Global Bond Fund | 8700 | 798 | 1769 | (61) | 7668 | 876 | 11 | 310 |
| U.S. Government Money Market Fund |  | 2289 | 29 |  | 2260 | 2260 |  | 14 |
|  | $76113 | $15992 | $11706 | $1329 | $81728 | 9126 | $263 | $4137 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2030 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $14949 | $1206 | $4544 | $954 | $12565 | 579 | $368 | $345 |
| Avantis U.S. Small Cap Value Fund | 1396 | 281 | 301 | 155 | 1531 | 83 | 14 | 107 |
| Focused Large Cap Value Fund | 12769 | 3201 | 2026 | 90 | 14034 | 1292 | 14 | 1517 |
| Growth Fund | 12018 | 3523 | 1757 | (1045) | 12739 | 212 | 42 | 1755 |
| Heritage Fund | 1638 | 464 | 165 | (303) | 1634 | 62 | (5) | 248 |
| Mid Cap Value Fund | 2607 | 688 | 370 | (95) | 2830 | 183 | (15) | 354 |
| Small Cap Growth Fund | 1402 | 275 | 197 | 18 | 1498 | 60 | 6 | 96 |
| Avantis Core Fixed Income Fund | 28455 | 4702 | 5557 | 401 | 28001 | 3294 | 9 | 645 |
| High Income Fund | 5971 | 703 | 664 | 45 | 6055 | 689 | 4 | 217 |
| Inflation-Adjusted Bond Fund | 4748 | 485 | 920 | 27 | 4340 | 409 | (6) | 102 |
| Short Duration Fund | 2133 | 447 | 159 | 11 | 2432 | 246 |  | 57 |
| Short Duration Inflation Protection Bond Fund | 4104 | 1371 | 370 | (53) | 5052 | 479 | (1) | 151 |
| Avantis Emerging Markets Equity Fund | 2156 | 170 | 488 | 286 | 2124 | 134 | 46 | 80 |
| Avantis International Equity Fund | 6543 | 4498 | 1889 | 1296 | 10448 | 639 | 68 | 361 |
| Focused International Growth Fund | 3586 | 483 | 383 | 218 | 3904 | 194 | 5 | 42 |
| Global Real Estate Fund | 1742 | 280 | 178 | 81 | 1925 | 139 | 3 | 77 |
| International Small-Mid Cap Fund | 595 | 66 | 129 | 71 | 603 | 47 | 10 | 19 |
| International Value Fund | 3996 | 693 | 731 | 402 | 4360 | 380 | 22 | 388 |
| Emerging Markets Debt Fund | 2501 | 210 | 279 | 103 | 2535 | 265 | 3 | 102 |
| Global Bond Fund | 11960 | 1719 | 3046 | (76) | 10557 | 1206 | 6 | 425 |
| U.S. Government Money Market Fund |  | 3150 | 41 |  | 3109 | 3109 |  | 20 |
|  | $125269 | $28615 | $24194 | $2586 | $132276 | 13701 | $593 | $7108 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2035 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $17959 | $1848 | $4659 | $1226 | $16374 | 755 | $400 | $427 |
| Avantis U.S. Small Cap Value Fund | 1626 | 323 | 205 | 188 | 1932 | 104 | 11 | 126 |
| Focused Dynamic Growth Fund | 4581 | 725 | 812 | 133 | 4627 | 55 | 68 | 298 |
| Focused Large Cap Value Fund | 13465 | 3413 | 1039 | 108 | 15947 | 1468 | 13 | 1642 |
| Growth Fund | 8539 | 3241 | 649 | (837) | 10294 | 171 | 29 | 1338 |
| Heritage Fund | 2405 | 715 | 85 | (463) | 2572 | 97 | (2) | 370 |
| Mid Cap Value Fund | 2968 | 741 | 135 | (122) | 3452 | 223 | 1 | 409 |
| Small Cap Growth Fund | 1634 | 300 | 113 | 22 | 1843 | 74 | 3 | 112 |
| Avantis Core Fixed Income Fund | 23718 | 4768 | 3011 | 330 | 25805 | 3036 | 4 | 562 |
| High Income Fund | 5574 | 871 | 272 | 45 | 6218 | 707 |  | 211 |
| Inflation-Adjusted Bond Fund | 3119 | 517 | 317 | 7 | 3326 | 313 |  | 75 |
| Short Duration Fund | 836 | 192 | 9 | 4 | 1023 | 104 |  | 23 |
| Short Duration Inflation Protection Bond Fund | 1747 | 854 | 17 | (30) | 2554 | 242 |  | 74 |
| Avantis Emerging Markets Equity Fund | 2681 | 226 | 238 | 431 | 3100 | 195 | 12 | 110 |
| Avantis International Equity Fund | 7236 | 4867 | 1010 | 1529 | 12622 | 772 | 30 | 413 |
| Emerging Markets Fund | 1248 | 69 | 230 | 279 | 1366 | 81 | 30 | 28 |
| Focused International Growth Fund | 4009 | 470 | 117 | 250 | 4612 | 229 |  | 47 |
| Global Real Estate Fund | 2164 | 277 | 50 | 101 | 2492 | 180 |  | 95 |
| International Small-Mid Cap Fund | 1086 | 108 | 98 | 149 | 1245 | 97 | 4 | 35 |
| International Value Fund | 2901 | 635 | 204 | 319 | 3651 | 318 | 5 | 301 |
| Non-U.S. Intrinsic Value Fund | 1347 | 184 | 151 | 90 | 1470 | 134 | 12 | 150 |
| Emerging Markets Debt Fund | 2640 | 300 | 135 | 115 | 2920 | 306 | 1 | 109 |
| Global Bond Fund | 9419 | 1690 | 1954 | (70) | 9085 | 1038 | 10 | 346 |
| U.S. Government Money Market Fund |  | 2660 |  |  | 2660 | 2660 |  | 17 |
|  | $122902 | $29994 | $15510 | $3804 | $141190 | 13359 | $631 | $7318 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2040 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $21938 | $1803 | $5308 | $1520 | $19953 | 920 | $463 | $519 |
| Avantis U.S. Small Cap Value Fund | 1939 | 291 | 197 | 226 | 2259 | 122 | 8 | 148 |
| Focused Dynamic Growth Fund | 10184 | 2031 | 1556 | 324 | 10983 | 130 | 129 | 698 |
| Focused Large Cap Value Fund | 14502 | 3278 | 925 | 118 | 16973 | 1563 | 12 | 1749 |
| Growth Fund | 4461 | 1858 | 288 | (461) | 5570 | 92 | 25 | 721 |
| Heritage Fund | 3434 | 1007 | 104 | (663) | 3674 | 139 | (2) | 528 |
| Mid Cap Value Fund | 3460 | 754 | 126 | (140) | 3948 | 255 | (3) | 473 |
| Small Cap Growth Fund | 1949 | 238 | 93 | 27 | 2121 | 85 | 4 | 131 |
| Avantis Emerging Markets Equity Fund | 3804 | 326 | 454 | 589 | 4265 | 268 | 34 | 151 |
| Avantis International Equity Fund | 8047 | 5656 | 1220 | 1716 | 14199 | 868 | 42 | 464 |
| Emerging Markets Fund | 2777 | 195 | 523 | 618 | 3067 | 183 | 86 | 66 |
| Focused International Growth Fund | 4504 | 485 | 125 | 282 | 5146 | 255 |  | 52 |
| Global Real Estate Fund | 2665 | 312 | 77 | 127 | 3027 | 219 | (2) | 116 |
| International Small-Mid Cap Fund | 1799 | 166 | 180 | 244 | 2029 | 158 | 9 | 58 |
| International Value Fund | 1713 | 382 | 52 | 192 | 2235 | 195 | 2 | 182 |
| Non-U.S. Intrinsic Value Fund | 2809 | 414 | 198 | 196 | 3221 | 293 | 20 | 333 |
| Avantis Core Fixed Income Fund | 19398 | 3622 | 1555 | 281 | 21746 | 2558 | (3) | 472 |
| High Income Fund | 4896 | 840 | 157 | 40 | 5619 | 639 |  | 190 |
| Inflation-Adjusted Bond Fund | 1857 | 364 | 23 | 1 | 2199 | 207 | (2) | 50 |
| Short Duration Fund | 61 | 78 |  |  | 139 | 14 |  | 2 |
| Short Duration Inflation Protection Bond Fund | 123 | 272 | 1 | (7) | 387 | 37 |  | 12 |
| Emerging Markets Debt Fund | 2586 | 306 | 51 | 116 | 2957 | 310 |  | 109 |
| Global Bond Fund | 7236 | 1248 | 1277 | (49) | 7158 | 818 | 3 | 271 |
| U.S. Government Money Market Fund |  | 2084 |  |  | 2084 | 2084 |  | 13 |
|  | $126142 | $28010 | $14490 | $5297 | $144959 | 12412 | $825 | $7508 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2045 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $22907 | $1693 | $5246 | $1582 | $20936 | 965 | $495 | $544 |
| Avantis U.S. Small Cap Value Fund | 2004 | 353 | 256 | 231 | 2332 | 126 | 17 | 154 |
| Focused Dynamic Growth Fund | 14154 | 2283 | 1491 | 503 | 15449 | 183 | 101 | 993 |
| Focused Large Cap Value Fund | 15027 | 3357 | 1106 | 106 | 17384 | 1601 | 18 | 1811 |
| Growth Fund | 945 | 554 | 12 | (125) | 1362 | 23 |  | 184 |
| Heritage Fund | 3653 | 1065 | 27 | (719) | 3972 | 150 |  | 574 |
| Mid Cap Value Fund | 3601 | 830 | 151 | (148) | 4132 | 267 |  | 494 |
| Small Cap Growth Fund | 2014 | 305 | 102 | 27 | 2244 | 90 | 5 | 139 |
| Avantis Emerging Markets Equity Fund | 3084 | 316 | 196 | 510 | 3714 | 233 | 13 | 130 |
| Avantis International Equity Fund | 8300 | 5843 | 1183 | 1773 | 14733 | 901 | 47 | 479 |
| Emerging Markets Fund | 3967 | 284 | 694 | 917 | 4474 | 266 | 95 | 95 |
| Focused International Growth Fund | 4623 | 511 | 113 | 288 | 5309 | 263 | 3 | 54 |
| Global Real Estate Fund | 2786 | 367 | 59 | 132 | 3226 | 234 |  | 123 |
| International Small-Mid Cap Fund | 1910 | 169 | 125 | 268 | 2222 | 173 | 8 | 65 |
| International Value Fund | 377 | 179 | 4 | 45 | 597 | 52 |  | 49 |
| Non-U.S. Intrinsic Value Fund | 4256 | 787 | 467 | 303 | 4879 | 444 | 21 | 516 |
| Avantis Core Fixed Income Fund | 13387 | 2435 | 739 | 192 | 15275 | 1797 | (2) | 328 |
| High Income Fund | 3378 | 623 | 55 | 27 | 3973 | 452 |  | 133 |
| Inflation-Adjusted Bond Fund | 1218 | 248 | 16 |  | 1450 | 137 |  | 33 |
| Emerging Markets Debt Fund | 1805 | 280 | 21 | 82 | 2146 | 225 |  | 77 |
| Global Bond Fund | 4937 | 850 | 796 | (37) | 4954 | 566 | 3 | 187 |
| U.S. Government Money Market Fund |  | 1451 |  |  | 1451 | 1451 |  | 9 |
|  | $118333 | $24783 | $12859 | $5957 | $136214 | 10599 | $824 | $7171 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2050 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $23768 | $1842 | $5695 | $1618 | $21533 | 992 | $517 | $558 |
| Avantis U.S. Small Cap Value Fund | 2069 | 359 | 223 | 245 | 2450 | 132 | 11 | 157 |
| Focused Dynamic Growth Fund | 15644 | 3120 | 1844 | 492 | 17412 | 206 | 184 | 1111 |
| Focused Large Cap Value Fund | 15553 | 3458 | 1160 | 101 | 17952 | 1653 | 29 | 1858 |
| Heritage Fund | 3777 | 1130 | 99 | (737) | 4071 | 154 |  | 590 |
| Mid Cap Value Fund | 3718 | 858 | 182 | (144) | 4250 | 275 | (8) | 507 |
| Small Cap Growth Fund | 2084 | 324 | 129 | 28 | 2307 | 92 | 6 | 142 |
| Avantis Emerging Markets Equity Fund | 2914 | 231 | 158 | 462 | 3449 | 217 | 19 | 118 |
| Avantis International Equity Fund | 8602 | 5983 | 1065 | 1837 | 15357 | 939 | 30 | 491 |
| Emerging Markets Fund | 4415 | 375 | 624 | 1022 | 5188 | 309 | 106 | 109 |
| Focused International Growth Fund | 4792 | 500 | 121 | 300 | 5471 | 271 |  | 56 |
| Global Real Estate Fund | 2877 | 396 | 113 | 135 | 3295 | 239 | (1) | 127 |
| International Small-Mid Cap Fund | 1967 | 166 | 69 | 278 | 2342 | 182 | 5 | 67 |
| Non-U.S. Intrinsic Value Fund | 4783 | 855 | 299 | 360 | 5699 | 519 | 3 | 592 |
| Avantis Core Fixed Income Fund | 8115 | 1568 | 462 | 116 | 9337 | 1098 |  | 199 |
| High Income Fund | 2046 | 387 | 42 | 17 | 2408 | 274 |  | 81 |
| Inflation-Adjusted Bond Fund | 726 | 143 | 8 |  | 861 | 81 |  | 20 |
| Emerging Markets Debt Fund | 1080 | 174 | 12 | 49 | 1291 | 135 |  | 47 |
| Global Bond Fund | 2999 | 491 | 466 | (23) | 3001 | 343 | 3 | 113 |
| U.S. Government Money Market Fund |  | 862 |  |  | 862 | 862 |  | 5 |
|  | $111929 | $23222 | $12771 | $6156 | $128536 | 8973 | $904 | $6948 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2055 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $18536 | $1751 | $4500 | $1290 | $17077 | 787 | $390 | $442 |
| Avantis U.S. Small Cap Value Fund | 1624 | 326 | 236 | 190 | 1904 | 103 | 10 | 125 |
| Focused Dynamic Growth Fund | 12217 | 2512 | 1286 | 433 | 13876 | 164 | 81 | 881 |
| Focused Large Cap Value Fund | 12090 | 3144 | 1072 | 94 | 14256 | 1313 | 1 | 1472 |
| Heritage Fund | 2954 | 990 | 108 | (579) | 3257 | 123 | (6) | 467 |
| Mid Cap Value Fund | 2904 | 753 | 166 | (120) | 3371 | 218 | (2) | 402 |
| Small Cap Growth Fund | 1633 | 302 | 124 | 23 | 1834 | 73 | 3 | 112 |
| Avantis Emerging Markets Equity Fund | 2265 | 244 | 214 | 363 | 2658 | 167 | 14 | 93 |
| Avantis International Equity Fund | 6733 | 4801 | 974 | 1443 | 12003 | 734 | 29 | 389 |
| Emerging Markets Fund | 3421 | 286 | 551 | 817 | 3973 | 237 | 69 | 86 |
| Focused International Growth Fund | 3750 | 528 | 203 | 234 | 4309 | 214 | 2 | 44 |
| Global Real Estate Fund | 2263 | 367 | 105 | 108 | 2633 | 191 | (1) | 101 |
| International Small-Mid Cap Fund | 1548 | 170 | 113 | 218 | 1823 | 141 | 3 | 53 |
| Non-U.S. Intrinsic Value Fund | 3738 | 817 | 392 | 281 | 4444 | 405 | 6 | 470 |
| Avantis Core Fixed Income Fund | 2537 | 695 | 119 | 36 | 3149 | 370 |  | 65 |
| High Income Fund | 630 | 188 | 14 | 5 | 809 | 92 |  | 26 |
| Inflation-Adjusted Bond Fund | 228 | 58 | 3 |  | 283 | 27 |  | 7 |
| Emerging Markets Debt Fund | 334 | 86 | 4 | 16 | 432 | 45 |  | 15 |
| Global Bond Fund | 929 | 206 | 125 | (7) | 1003 | 115 |  | 37 |
| U.S. Government Money Market Fund |  | 293 |  |  | 293 | 293 |  | 2 |
|  | $80334 | $18517 | $10309 | $4845 | $93387 | 5812 | $599 | $5289 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2060 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $17427 | $2041 | $4214 | $1246 | $16500 | 760 | $363 | $423 |
| Avantis U.S. Small Cap Value Fund | 1526 | 326 | 209 | 182 | 1825 | 98 | 8 | 120 |
| Focused Dynamic Growth Fund | 11484 | 2975 | 1476 | 411 | 13394 | 159 | 92 | 845 |
| Focused Large Cap Value Fund | 11418 | 3442 | 1168 | 95 | 13787 | 1269 | (2) | 1413 |
| Heritage Fund | 2759 | 1079 | 126 | (558) | 3154 | 119 | (4) | 448 |
| Mid Cap Value Fund | 2753 | 801 | 188 | (115) | 3251 | 210 | (3) | 387 |
| Small Cap Growth Fund | 1534 | 317 | 104 | 20 | 1767 | 71 | 3 | 108 |
| Avantis Emerging Markets Equity Fund | 2133 | 280 | 190 | 358 | 2581 | 162 | 6 | 90 |
| Avantis International Equity Fund | 6352 | 4742 | 750 | 1402 | 11746 | 718 | 15 | 373 |
| Emerging Markets Fund | 3234 | 327 | 459 | 808 | 3910 | 233 | 46 | 83 |
| Focused International Growth Fund | 3550 | 568 | 185 | 226 | 4159 | 206 | 1 | 42 |
| Global Real Estate Fund | 2140 | 422 | 126 | 103 | 2539 | 184 | (1) | 96 |
| International Small-Mid Cap Fund | 1463 | 196 | 114 | 210 | 1755 | 136 | 3 | 51 |
| Non-U.S. Intrinsic Value Fund | 3537 | 848 | 317 | 274 | 4342 | 395 | 4 | 448 |
| Avantis Core Fixed Income Fund | 2057 | 371 | 160 | 29 | 2297 | 270 |  | 50 |
| High Income Fund | 506 | 91 | 11 | 4 | 590 | 67 |  | 20 |
| Inflation-Adjusted Bond Fund | 181 | 33 | 3 |  | 211 | 20 |  | 6 |
| Emerging Markets Debt Fund | 270 | 42 | 5 | 12 | 319 | 33 |  | 12 |
| Global Bond Fund | 749 | 121 | 126 | (6) | 738 | 84 | 1 | 28 |
| U.S. Government Money Market Fund |  | 212 |  |  | 212 | 212 |  | 1 |
|  | $75073 | $19234 | $9931 | $4701 | $89077 | 5406 | $532 | $5044 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** | **One Choice Blend+ 2065 Portfolio (Amounts in thousands)** |
| Avantis U.S. Equity Fund | $3238 | $854 | $745 | $249 | $3596 | 166 | $65 | $85 |
| Avantis U.S. Small Cap Value Fund | 287 | 103 | 28 | 37 | 399 | 22 |  | 24 |
| Focused Dynamic Growth Fund | 2146 | 875 | 153 | 83 | 2951 | 35 |  | 171 |
| Focused Large Cap Value Fund | 2120 | 973 | 113 | 16 | 2996 | 276 |  | 286 |
| Heritage Fund | 511 | 321 | 16 | (116) | 700 | 26 |  | 92 |
| Mid Cap Value Fund | 511 | 246 | 20 | (23) | 714 | 46 | (1) | 78 |
| Small Cap Growth Fund | 285 | 123 | 15 | 2 | 395 | 16 |  | 22 |
| Avantis Emerging Markets Equity Fund | 396 | 102 | 17 | 72 | 553 | 35 |  | 18 |
| Avantis International Equity Fund | 1184 | 1168 | 105 | 282 | 2529 | 155 | 1 | 75 |
| Emerging Markets Fund | 601 | 129 | 50 | 167 | 847 | 50 | 2 | 18 |
| Focused International Growth Fund | 660 | 241 | 31 | 44 | 914 | 45 |  | 10 |
| Global Real Estate Fund | 396 | 161 | 23 | 20 | 554 | 40 | (1) | 20 |
| International Small-Mid Cap Fund | 272 | 77 | 15 | 42 | 376 | 29 |  | 10 |
| Non-U.S. Intrinsic Value Fund | 658 | 262 | 43 | 56 | 933 | 85 |  | 91 |
| Avantis Core Fixed Income Fund | 380 | 149 | 28 | 5 | 506 | 60 |  | 10 |
| High Income Fund | 95 | 35 | 1 | 1 | 130 | 15 |  | 5 |
| Inflation-Adjusted Bond Fund | 34 | 13 |  |  | 47 | 4 |  | 1 |
| Emerging Markets Debt Fund | 51 | 17 |  | 2 | 70 | 7 |  | 2 |
| Global Bond Fund | 140 | 50 | 25 | (1) | 164 | 19 |  | 6 |
| U.S. Government Money Market Fund |  | 47 |  |  | 47 | 47 |  |  |
|  | $13965 | $5946 | $1428 | $938 | $19421 | 1178 | $66 | $1024 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net<br>Realized<br>Gain<br>(Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice Blend+ 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** |
| Avantis U.S. Equity Fund |  | $50 | $2 | $1 | $49 | 2 |  | $1 |
| Avantis U.S. Small Cap Value Fund |  | 6 |  |  | 6 |  |  |  |
| Focused Dynamic Growth Fund |  | 41 |  | (1) | 40 |  |  | 2 |
| Focused Large Cap Value Fund |  | 44 | 2 | (1) | 41 | 4 |  | 3 |
| Heritage Fund |  | 11 |  | (1) | 10 |  |  | 1 |
| Mid Cap Value Fund |  | 11 | 1 |  | 10 | 1 |  | 1 |
| Small Cap Growth Fund |  | 6 | 1 |  | 5 |  |  |  |
| Avantis Emerging Markets Equity Fund |  | 7 | 1 | 1 | 7 |  |  |  |
| Avantis International Equity Fund |  | 34 | 1 | 2 | 35 | 2 |  | 1 |
| Emerging Markets Fund |  | 11 | 1 | 1 | 11 | 1 |  |  |
| Focused International Growth Fund |  | 13 |  |  | 13 | 1 |  |  |
| Global Real Estate Fund |  | 8 |  |  | 8 | 1 |  | 1 |
| International Small-Mid Cap Fund |  | 5 |  |  | 5 |  |  |  |
| Non-U.S. Intrinsic Value Fund |  | 13 | 1 |  | 12 | 1 |  | 1 |
| Avantis Core Fixed Income Fund |  | 7 |  |  | 7 | 1 |  |  |
| High Income Fund |  | 2 |  |  | 2 |  |  |  |
| Inflation-Adjusted Bond Fund |  | 1 |  |  | 1 |  |  |  |
| Emerging Markets Debt Fund |  | 1 |  |  | 1 |  |  |  |
| Global Bond Fund |  | 2 |  |  | 2 |  |  |  |
| U.S. Government Money Market Fund |  | 1 |  |  | 1 | 1 |  |  |
|  |  | $274 | $10 | $2 | $266 | 15 |  | $11 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

(3)December 1, 2025 (fund inception) through January 31, 2026.

------

Financial Highlights

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | **One Choice Blend+ In Retirement Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.29 | 0.24<sup>(3)</sup> | 0.43 | 0.67 | (0.28) | (0.04) | (0.32) | $10.64 | 6.57% | 0.58% | 0.58% | 4.46% | 4.46% | 15% | $3909 |
| 2025 | $10.10 | 0.19 | 0.54 | 0.73 | (0.37) | (0.17) | (0.54) | $10.29 | 7.59% | 0.57% | 0.58% | 3.18% | 3.17% | 41% | $2610 |
| 2024 | $9.43 | 0.37 | 0.50 | 0.87 | (0.20) |  | (0.20) | $10.10 | 9.37% | 0.57% | 0.58% | 3.05% | 3.04% | 48% | $754 |
| 2023 | $9.43 | 0.25 | —<sup>(4)</sup> | 0.25 | (0.25) |  | (0.25) | $9.43 | 2.87% | 0.57% | 0.58% | 2.75% | 2.74% | 30% | $1310 |
| 2022 | $10.57 | 0.27 | (1.17) | (0.90) | (0.23) | (0.01) | (0.24) | $9.43 | (8.32)% | 0.57% | 0.58% | 2.01% | 2.00% | 36% | $1099 |
| 2021<sup>(5)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.55 | 0.57 |  |  |  | $10.57 | 5.20% | 0.57% | 0.58% | 0.66% | 0.65% | 137% | $15 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.29 | 0.24<sup>(3)</sup> | 0.45 | 0.69 | (0.30) | (0.04) | (0.34) | $10.64 | 6.72% | 0.38% | 0.38% | 4.66% | 4.66% | 15% | $455 |
| 2025 | $10.11 | 0.27 | 0.47 | 0.74 | (0.39) | (0.17) | (0.56) | $10.29 | 7.76% | 0.37% | 0.38% | 3.38% | 3.37% | 41% | $384 |
| 2024 | $9.43 | 0.30 | 0.60 | 0.90 | (0.22) |  | (0.22) | $10.11 | 9.70% | 0.37% | 0.38% | 3.25% | 3.24% | 48% | $12 |
| 2023 | $9.43 | 0.29 | (0.02) | 0.27 | (0.27) |  | (0.27) | $9.43 | 3.08% | 0.37% | 0.38% | 2.95% | 2.94% | 30% | $11 |
| 2022 | $10.58 | 0.32 | (1.21) | (0.89) | (0.25) | (0.01) | (0.26) | $9.43 | (8.25)% | 0.37% | 0.38% | 2.21% | 2.20% | 36% | $11 |
| 2021<sup>(5)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.54 | 0.58 |  |  |  | $10.58 | 5.30% | 0.37% | 0.38% | 0.86% | 0.85% | 137% | $11 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.28 | 0.23<sup>(3)</sup> | 0.42 | 0.65 | (0.26) | (0.04) | (0.30) | $10.63 | 6.38% | 0.83% | 0.83% | 4.21% | 4.21% | 15% | $26 |
| 2025 | $10.08 | 0.25 | 0.45 | 0.70 | (0.33) | (0.17) | (0.50) | $10.28 | 7.36% | 0.82% | 0.83% | 2.93% | 2.92% | 41% | $19 |
| 2024 | $9.41 | 0.25 | 0.60 | 0.85 | (0.18) |  | (0.18) | $10.08 | 9.11% | 0.82% | 0.83% | 2.80% | 2.79% | 48% | $11 |
| 2023 | $9.41 | 0.24 | (0.01) | 0.23 | (0.23) |  | (0.23) | $9.41 | 2.61% | 0.82% | 0.83% | 2.50% | 2.49% | 30% | $10 |
| 2022 | $10.56 | 0.28 | (1.21) | (0.93) | (0.21) | (0.01) | (0.22) | $9.41 | (8.61)% | 0.82% | 0.83% | 1.76% | 1.75% | 36% | $10 |
| 2021<sup>(5)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.54 | 0.56 |  |  |  | $10.56 | 5.10% | 0.82% | 0.83% | 0.41% | 0.40% | 137% | $11 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.27 | 0.20<sup>(3)</sup> | 0.44 | 0.64 | (0.24) | (0.04) | (0.28) | $10.63 | 6.28% | 1.08% | 1.08% | 3.96% | 3.96% | 15% | $38976 |
| 2025 | $10.06 | 0.21 | 0.47 | 0.68 | (0.30) | (0.17) | (0.47) | $10.27 | 7.13% | 1.07% | 1.08% | 2.68% | 2.67% | 41% | $36472 |
| 2024 | $9.39 | 0.22 | 0.60 | 0.82 | (0.15) |  | (0.15) | $10.06 | 8.85% | 1.07% | 1.08% | 2.55% | 2.54% | 48% | $13 |
| 2023 | $9.39 | 0.22 | (0.01) | 0.21 | (0.21) |  | (0.21) | $9.39 | 2.35% | 1.07% | 1.08% | 2.25% | 2.24% | 30% | $13 |
| 2022 | $10.55 | 0.24 | (1.20) | (0.96) | (0.19) | (0.01) | (0.20) | $9.39 | (8.90)% | 1.07% | 1.08% | 1.51% | 1.50% | 36% | $12 |
| 2021<sup>(5)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.54 | 0.55 |  |  |  | $10.55 | 5.00% | 1.07% | 1.08% | 0.16% | 0.15% | 137% | $11 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **R6 Class** | | | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.30 | 0.27<sup>(3)</sup> | 0.42 | 0.69 | (0.31) | (0.04) | (0.35) | $10.64 | 6.74% | 0.23% | 0.23% | 4.81% | 4.81% | 15% | $18468 |
| 2025 | $10.12 | 0.37 | 0.39 | 0.76 | (0.41) | (0.17) | (0.58) | $10.30 | 7.96% | 0.22% | 0.23% | 3.53% | 3.52% | 41% | $14334 |
| 2024 | $9.44 | 0.28 | 0.64 | 0.92 | (0.24) |  | (0.24) | $10.12 | 9.85% | 0.22% | 0.23% | 3.40% | 3.39% | 48% | $15220 |
| 2023 | $9.44 | 0.29 | (0.01) | 0.28 | (0.28) |  | (0.28) | $9.44 | 3.23% | 0.22% | 0.23% | 3.10% | 3.09% | 30% | $11418 |
| 2022 | $10.59 | 0.30 | (1.18) | (0.88) | (0.26) | (0.01) | (0.27) | $9.44 | (8.13)% | 0.22% | 0.23% | 2.36% | 2.35% | 36% | $6335 |
| 2021<sup>(5)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.55 | 0.59 |  |  |  | $10.59 | 5.40% | 0.22% | 0.23% | 1.01% | 1.00% | 137% | $11 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

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

(5)March 10, 2021 (fund inception) through July 31, 2021.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | **One Choice Blend+ 2025 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.53 | 0.24<sup>(3)</sup> | 0.50 | 0.74 | (0.32) | (0.17) | (0.49) | $10.78 | 7.15% | 0.58% | 0.58% | 4.35% | 4.35% | 15% | $4969 |
| 2025 | $10.08 | 0.32 | 0.51 | 0.83 | (0.32) | (0.06) | (0.38) | $10.53 | 8.54% | 0.58% | 0.58% | 3.03% | 3.03% | 53% | $4372 |
| 2024 | $9.36 | 0.29 | 0.64 | 0.93 | (0.21) |  | (0.21) | $10.08 | 10.10% | 0.57% | 0.58% | 2.88% | 2.87% | 51% | $4079 |
| 2023 | $9.30 | 0.25 | 0.08 | 0.33 | (0.24) | (0.03) | (0.27) | $9.36 | 3.72% | 0.57% | 0.58% | 2.75% | 2.74% | 41% | $4323 |
| 2022 | $10.55 | 0.30 | (1.27) | (0.97) | (0.26) | (0.02) | (0.28) | $9.30 | (9.41)% | 0.57% | 0.58% | 1.93% | 1.92% | 32% | $3081 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.52 | 0.55 |  |  |  | $10.55 | 5.50% | 0.57% | 0.58% | 0.85% | 0.84% | 24% | $1629 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.54 | 0.25<sup>(3)</sup> | 0.50 | 0.75 | (0.34) | (0.17) | (0.51) | $10.78 | 7.27% | 0.38% | 0.38% | 4.55% | 4.55% | 15% | $7 |
| 2025 | $10.08 | 0.30 | 0.56 | 0.86 | (0.34) | (0.06) | (0.40) | $10.54 | 8.86% | 0.38% | 0.38% | 3.23% | 3.23% | 53% | $7 |
| 2024 | $9.37 | 0.30 | 0.64 | 0.94 | (0.23) |  | (0.23) | $10.08 | 10.20% | 0.37% | 0.38% | 3.08% | 3.07% | 51% | $5 |
| 2023 | $9.31 | 0.28 | 0.07 | 0.35 | (0.26) | (0.03) | (0.29) | $9.37 | 3.93% | 0.37% | 0.38% | 2.95% | 2.94% | 41% | $5 |
| 2022 | $10.56 | 0.33 | (1.28) | (0.95) | (0.28) | (0.02) | (0.30) | $9.31 | (9.25)% | 0.37% | 0.38% | 2.13% | 2.12% | 32% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.52 | 0.56 |  |  |  | $10.56 | 5.60% | 0.37% | 0.38% | 1.05% | 1.04% | 24% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.52 | 0.24<sup>(3)</sup> | 0.48 | 0.72 | (0.29) | (0.17) | (0.46) | $10.78 | 6.99% | 0.83% | 0.83% | 4.10% | 4.10% | 15% | $48 |
| 2025 | $10.06 | 0.28 | 0.54 | 0.82 | (0.30) | (0.06) | (0.36) | $10.52 | 8.38% | 0.83% | 0.83% | 2.78% | 2.78% | 53% | $32 |
| 2024 | $9.35 | 0.17 | 0.73 | 0.90 | (0.19) |  | (0.19) | $10.06 | 9.73% | 0.82% | 0.83% | 2.63% | 2.62% | 51% | $29 |
| 2023 | $9.28 | 0.25 | 0.07 | 0.32 | (0.22) | (0.03) | (0.25) | $9.35 | 3.58% | 0.82% | 0.83% | 2.50% | 2.49% | 41% | $5 |
| 2022 | $10.54 | 0.28 | (1.28) | (1.00) | (0.24) | (0.02) | (0.26) | $9.28 | (9.70)% | 0.82% | 0.83% | 1.68% | 1.67% | 32% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.52 | 0.54 |  |  |  | $10.54 | 5.40% | 0.82% | 0.83% | 0.60% | 0.59% | 24% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.50 | 0.21<sup>(3)</sup> | 0.50 | 0.71 | (0.27) | (0.17) | (0.44) | $10.77 | 6.82% | 1.08% | 1.08% | 3.85% | 3.85% | 15% | $46504 |
| 2025 | $10.04 | 0.26 | 0.53 | 0.79 | (0.27) | (0.06) | (0.33) | $10.50 | 8.12% | 1.08% | 1.08% | 2.53% | 2.53% | 53% | $43105 |
| 2024 | $9.33 | 0.19 | 0.68 | 0.87 | (0.16) |  | (0.16) | $10.04 | 9.47% | 1.07% | 1.08% | 2.38% | 2.37% | 51% | $89 |
| 2023 | $9.27 | 0.22 | 0.06 | 0.28 | (0.19) | (0.03) | (0.22) | $9.33 | 3.20% | 1.07% | 1.08% | 2.25% | 2.24% | 41% | $28 |
| 2022 | $10.53 | 0.20 | (1.22) | (1.02) | (0.22) | (0.02) | (0.24) | $9.27 | (9.90)% | 1.07% | 1.08% | 1.43% | 1.42% | 32% | $16 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.52 | 0.53 |  |  |  | $10.53 | 5.30% | 1.07% | 1.08% | 0.35% | 0.34% | 24% | $13 |

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **R6 Class** | | | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.55 | 0.26<sup>(3)</sup> | 0.50 | 0.76 | (0.36) | (0.17) | (0.53) | $10.78 | 7.32% | 0.23% | 0.23% | 4.70% | 4.70% | 15% | $30197 |
| 2025 | $10.09 | 0.35 | 0.53 | 0.88 | (0.36) | (0.06) | (0.42) | $10.55 | 9.02% | 0.23% | 0.23% | 3.38% | 3.38% | 53% | $28597 |
| 2024 | $9.38 | 0.31 | 0.65 | 0.96 | (0.25) |  | (0.25) | $10.09 | 10.36% | 0.22% | 0.23% | 3.23% | 3.22% | 51% | $27543 |
| 2023 | $9.32 | 0.30 | 0.06 | 0.36 | (0.27) | (0.03) | (0.30) | $9.38 | 4.09% | 0.22% | 0.23% | 3.10% | 3.09% | 41% | $23207 |
| 2022 | $10.57 | 0.32 | (1.25) | (0.93) | (0.30) | (0.02) | (0.32) | $9.32 | (9.13)% | 0.22% | 0.23% | 2.28% | 2.27% | 32% | $19569 |
| 2021<sup>(4)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.53 | 0.57 |  |  |  | $10.57 | 5.70% | 0.22% | 0.23% | 1.20% | 1.19% | 24% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | **One Choice Blend+ 2030 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.78 | 0.24<sup>(3)</sup> | 0.61 | 0.85 | (0.32) | (0.14) | (0.46) | $11.17 | 7.97% | 0.58% | 0.58% | 4.29% | 4.29% | 19% | $9563 |
| 2025 | $10.19 | 0.28 | 0.62 | 0.90 | (0.29) | (0.02) | (0.31) | $10.78 | 9.05% | 0.58% | 0.58% | 2.79% | 2.79% | 24% | $7615 |
| 2024 | $9.40 | 0.23 | 0.76 | 0.99 | (0.20) |  | (0.20) | $10.19 | 10.66% | 0.58% | 0.58% | 2.78% | 2.78% | 28% | $5957 |
| 2023 | $9.25 | 0.23 | 0.21 | 0.44 | (0.22) | (0.07) | (0.29) | $9.40 | 5.04% | 0.58% | 0.59% | 2.61% | 2.60% | 36% | $4126 |
| 2022 | $10.58 | 0.31 | (1.37) | (1.06) | (0.27) |  | (0.27) | $9.25 | (10.28)% | 0.57% | 0.58% | 1.75% | 1.74% | 26% | $3498 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.55 | 0.58 |  |  |  | $10.58 | 5.80% | 0.57% | 0.58% | 0.68% | 0.67% | 3% | $2002 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.80 | 0.25<sup>(3)</sup> | 0.61 | 0.86 | (0.34) | (0.14) | (0.48) | $11.18 | 8.08% | 0.38% | 0.38% | 4.49% | 4.49% | 19% | $7 |
| 2025 | $10.20 | 0.30 | 0.63 | 0.93 | (0.31) | (0.02) | (0.33) | $10.80 | 9.37% | 0.38% | 0.38% | 2.99% | 2.99% | 24% | $6 |
| 2024 | $9.41 | 0.29 | 0.72 | 1.01 | (0.22) |  | (0.22) | $10.20 | 10.87% | 0.38% | 0.38% | 2.98% | 2.98% | 28% | $6 |
| 2023 | $9.27 | 0.26 | 0.19 | 0.45 | (0.24) | (0.07) | (0.31) | $9.41 | 5.14% | 0.38% | 0.39% | 2.81% | 2.80% | 36% | $5 |
| 2022 | $10.59 | 0.34 | (1.37) | (1.03) | (0.29) |  | (0.29) | $9.27 | (10.03)% | 0.37% | 0.38% | 1.95% | 1.94% | 26% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.55 | 0.59 |  |  |  | $10.59 | 5.90% | 0.37% | 0.38% | 0.88% | 0.87% | 3% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.77 | 0.31<sup>(3)</sup> | 0.53 | 0.84 | (0.29) | (0.14) | (0.43) | $11.18 | 7.89% | 0.83% | 0.83% | 4.04% | 4.04% | 19% | $163 |
| 2025 | $10.18 | 0.24 | 0.63 | 0.87 | (0.26) | (0.02) | (0.28) | $10.77 | 8.78% | 0.83% | 0.83% | 2.54% | 2.54% | 24% | $22 |
| 2024 | $9.39 | 0.15 | 0.81 | 0.96 | (0.17) |  | (0.17) | $10.18 | 10.39% | 0.83% | 0.83% | 2.53% | 2.53% | 28% | $11 |
| 2023 | $9.24 | 0.21 | 0.21 | 0.42 | (0.20) | (0.07) | (0.27) | $9.39 | 4.78% | 0.83% | 0.84% | 2.36% | 2.35% | 36% | $6 |
| 2022 | $10.57 | 0.30 | (1.38) | (1.08) | (0.25) |  | (0.25) | $9.24 | (10.48)% | 0.82% | 0.83% | 1.50% | 1.49% | 26% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.55 | 0.57 |  |  |  | $10.57 | 5.70% | 0.82% | 0.83% | 0.43% | 0.42% | 3% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.76 | 0.21<sup>(3)</sup> | 0.61 | 0.82 | (0.26) | (0.14) | (0.40) | $11.18 | 7.72% | 1.08% | 1.08% | 3.79% | 3.79% | 19% | $73096 |
| 2025 | $10.17 | 0.17 | 0.68 | 0.85 | (0.24) | (0.02) | (0.26) | $10.76 | 8.52% | 1.08% | 1.08% | 2.29% | 2.29% | 24% | $66899 |
| 2024 | $9.37 | 0.22 | 0.73 | 0.95 | (0.15) |  | (0.15) | $10.17 | 10.24% | 1.08% | 1.08% | 2.28% | 2.28% | 28% | $215 |
| 2023 | $9.23 | 0.19 | 0.20 | 0.39 | (0.18) | (0.07) | (0.25) | $9.37 | 4.41% | 1.08% | 1.09% | 2.11% | 2.10% | 36% | $160 |
| 2022 | $10.56 | 0.26 | (1.36) | (1.10) | (0.23) |  | (0.23) | $9.23 | (10.67)% | 1.07% | 1.08% | 1.25% | 1.24% | 26% | $74 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.56 | 0.56 |  |  |  | $10.56 | 5.60% | 1.07% | 1.08% | 0.18% | 0.17% | 3% | $10 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Operating<br>Expenses<br>(before<br>expense<br>waiver)** | **Net<br>Investment<br>Income<br>(Loss)** | **Net Investment<br>Income <br>(Loss) <br>(before <br>expense waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **R6 Class** | | | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.81 | 0.27<sup>(3)</sup> | 0.60 | 0.87 | (0.36) | (0.14) | (0.50) | $11.18 | 8.14% | 0.23% | 0.23% | 4.64% | 4.64% | 19% | $49444 |
| 2025 | $10.21 | 0.34 | 0.61 | 0.95 | (0.33) | (0.02) | (0.35) | $10.81 | 9.52% | 0.23% | 0.23% | 3.14% | 3.14% | 24% | $50726 |
| 2024 | $9.42 | 0.27 | 0.75 | 1.02 | (0.23) |  | (0.23) | $10.21 | 11.02% | 0.23% | 0.23% | 3.13% | 3.13% | 28% | $45399 |
| 2023 | $9.27 | 0.27 | 0.20 | 0.47 | (0.25) | (0.07) | (0.32) | $9.42 | 5.41% | 0.23% | 0.24% | 2.96% | 2.95% | 36% | $28060 |
| 2022 | $10.59 | 0.32 | (1.34) | (1.02) | (0.30) |  | (0.30) | $9.27 | (9.92)% | 0.22% | 0.23% | 2.10% | 2.09% | 26% | $20448 |
| 2021<sup>(4)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.55 | 0.59 |  |  |  | $10.59 | 5.90% | 0.22% | 0.23% | 1.03% | 1.02% | 3% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Net<br>Investment<br>Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | **One Choice Blend+ 2035 Portfolio** | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.03 | 0.25<sup>(3)</sup> | 0.75 | 1.00 | (0.31) | (0.14) | (0.45) | $11.58 | 9.14% | 0.58% | 4.26% | 12% | $9954 |
| 2025 | $10.28 | 0.26 | 0.76 | 1.02 | (0.27) |  | (0.27) | $11.03 | 10.14% | 0.58% | 2.58% | 41% | $8940 |
| 2024 | $9.41 | 0.23 | 0.84 | 1.07 | (0.20) |  | (0.20) | $10.28 | 11.58% | 0.58% | 2.59% | 22% | $8072 |
| 2023 | $9.17 | 0.20 | 0.33 | 0.53 | (0.21) | (0.08) | (0.29) | $9.41 | 6.18% | 0.58% | 2.37% | 35% | $4817 |
| 2022 | $10.61 | 0.32 | (1.48) | (1.16) | (0.28) |  | (0.28) | $9.17 | (11.24)% | 0.58% | 1.54% | 20% | $3056 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.59 | 0.61 |  |  |  | $10.61 | 6.10% | 0.58% | 0.54% | 2% | $1620 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.04 | 0.18<sup>(3)</sup> | 0.83 | 1.01 | (0.33) | (0.14) | (0.47) | $11.58 | 9.26% | 0.38% | 4.46% | 12% | $210 |
| 2025 | $10.29 | 0.29 | 0.75 | 1.04 | (0.29) |  | (0.29) | $11.04 | 10.35% | 0.38% | 2.78% | 41% | $36 |
| 2024 | $9.42 | 0.27 | 0.82 | 1.09 | (0.22) |  | (0.22) | $10.29 | 11.79% | 0.38% | 2.79% | 22% | $33 |
| 2023 | $9.18 | 0.24 | 0.31 | 0.55 | (0.23) | (0.08) | (0.31) | $9.42 | 6.39% | 0.38% | 2.57% | 35% | $29 |
| 2022 | $10.62 | 0.35 | (1.49) | (1.14) | (0.30) |  | (0.30) | $9.18 | (11.08)% | 0.38% | 1.74% | 20% | $27 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.59 | 0.62 |  |  |  | $10.62 | 6.20% | 0.38% | 0.74% | 2% | $31 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.02 | 0.22<sup>(3)</sup> | 0.76 | 0.98 | (0.28) | (0.14) | (0.42) | $11.58 | 8.96% | 0.83% | 4.01% | 12% | $299 |
| 2025 | $10.27 | 0.25 | 0.75 | 1.00 | (0.25) |  | (0.25) | $11.02 | 9.87% | 0.83% | 2.33% | 41% | $396 |
| 2024 | $9.40 | 0.14 | 0.91 | 1.05 | (0.18) |  | (0.18) | $10.27 | 11.31% | 0.83% | 2.34% | 22% | $131 |
| 2023 | $9.15 | 0.20 | 0.32 | 0.52 | (0.19) | (0.08) | (0.27) | $9.40 | 6.03% | 0.83% | 2.12% | 35% | $6 |
| 2022 | $10.60 | 0.30 | (1.49) | (1.19) | (0.26) |  | (0.26) | $9.15 | (11.53)% | 0.83% | 1.29% | 20% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.59 | 0.60 |  |  |  | $10.60 | 6.00% | 0.83% | 0.29% | 2% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.00 | 0.21<sup>(3)</sup> | 0.75 | 0.96 | (0.25) | (0.14) | (0.39) | $11.57 | 8.80% | 1.08% | 3.76% | 12% | $83490 |
| 2025 | $10.25 | 0.19 | 0.78 | 0.97 | (0.22) |  | (0.22) | $11.00 | 9.61% | 1.08% | 2.08% | 41% | $73584 |
| 2024 | $9.38 | 0.19 | 0.83 | 1.02 | (0.15) |  | (0.15) | $10.25 | 11.05% | 1.08% | 2.09% | 22% | $296 |
| 2023 | $9.14 | 0.17 | 0.32 | 0.49 | (0.17) | (0.08) | (0.25) | $9.38 | 5.66% | 1.08% | 1.87% | 35% | $223 |
| 2022 | $10.59 | 0.26 | (1.47) | (1.21) | (0.24) |  | (0.24) | $9.14 | (11.72)% | 1.08% | 1.04% | 20% | $93 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.59 | 0.59 |  |  |  | $10.59 | 5.90% | 1.08% | 0.04% | 2% | $18 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset**<br>**Value,**<br>**Beginning**<br>**of Period** | **Net<br>Investment<br>Income<br>(Loss)** | **Net**<br>**Realized**<br>**and**<br>**Unrealized**<br>**Gain (Loss)** | **Total From**<br>**Investment**<br>**Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net** <br>**Asset**<br>**Value,**<br>**End**<br>**of Period** | **Total**<br>**Return**<sup>(1)</sup> | **Operating<br>Expenses** | **Net<br>Investment<br>Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net**<br>**Assets,**<br>**End of**<br>**Period**<br>**(in**<br>**thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.05 | 0.27<sup>(3)</sup> | 0.75 | 1.02 | (0.35) | (0.14) | (0.49) | $11.58 | 9.32% | 0.23% | 4.61% | 12% | $47234 |
| 2025 | $10.30 | 0.32 | 0.74 | 1.06 | (0.31) |  | (0.31) | $11.05 | 10.51% | 0.23% | 2.93% | 41% | $39945 |
| 2024 | $9.43 | 0.28 | 0.83 | 1.11 | (0.24) |  | (0.24) | $10.30 | 11.95% | 0.23% | 2.94% | 22% | $38328 |
| 2023 | $9.19 | 0.26 | 0.31 | 0.57 | (0.25) | (0.08) | (0.33) | $9.43 | 6.55% | 0.23% | 2.72% | 35% | $27474 |
| 2022 | $10.62 | 0.33 | (1.45) | (1.12) | (0.31) |  | (0.31) | $9.19 | (10.88)% | 0.23% | 1.89% | 20% | $20684 |
| 2021<sup>(4)</sup> | $10.00 | 0.04<sup>(3)</sup> | 0.58 | 0.62 |  |  |  | $10.62 | 6.20% | 0.23% | 0.89% | 2% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | **One Choice Blend+ 2040 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.22 | 0.25<sup>(3)</sup> | 0.90 | 1.15 | (0.30) | (0.13) | (0.43) | $11.94 | 10.40% | 0.58% | 4.22% | 11% | $10176 |
| 2025 | $10.48 | 0.25 | 0.88 | 1.13 | (0.27) | (0.12) | (0.39) | $11.22 | 11.16% | 0.58% | 2.28% | 24% | $7805 |
| 2024 | $9.51 | 0.21 | 0.95 | 1.16 | (0.19) |  | (0.19) | $10.48 | 12.37% | 0.58% | 2.46% | 23% | $5336 |
| 2023 | $9.14 | 0.19 | 0.45 | 0.64 | (0.19) | (0.08) | (0.27) | $9.51 | 7.33% | 0.58% | 2.16% | 21% | $2876 |
| 2022 | $10.65 | 0.31 | (1.52) | (1.21) | (0.28) | (0.02) | (0.30) | $9.14 | (11.73)% | 0.58% | 1.29% | 13% | $1467 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.64 | 0.65 |  |  |  | $10.65 | 6.50% | 0.58% | 0.37% | 2% | $790 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.24 | 0.28<sup>(3)</sup> | 0.87 | 1.15 | (0.32) | (0.13) | (0.45) | $11.94 | 10.42% | 0.38% | 4.42% | 11% | $26 |
| 2025 | $10.49 | 0.28 | 0.89 | 1.17 | (0.30) | (0.12) | (0.42) | $11.24 | 11.47% | 0.38% | 2.48% | 24% | $9 |
| 2024 | $9.52 | 0.21 | 0.97 | 1.18 | (0.21) |  | (0.21) | $10.49 | 12.58% | 0.38% | 2.66% | 23% | $8 |
| 2023 | $9.15 | 0.22 | 0.43 | 0.65 | (0.20) | (0.08) | (0.28) | $9.52 | 7.54% | 0.38% | 2.36% | 21% | $5 |
| 2022 | $10.66 | 0.36 | (1.55) | (1.19) | (0.30) | (0.02) | (0.32) | $9.15 | (11.58)% | 0.38% | 1.49% | 13% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.64 | 0.66 |  |  |  | $10.66 | 6.60% | 0.38% | 0.57% | 2% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.21 | 0.25<sup>(3)</sup> | 0.87 | 1.12 | (0.27) | (0.13) | (0.40) | $11.93 | 10.13% | 0.83% | 3.97% | 11% | $426 |
| 2025 | $10.46 | 0.22 | 0.90 | 1.12 | (0.25) | (0.12) | (0.37) | $11.21 | 10.99% | 0.83% | 2.03% | 24% | $273 |
| 2024 | $9.49 | 0.14 | 0.99 | 1.13 | (0.16) |  | (0.16) | $10.46 | 12.12% | 0.83% | 2.21% | 23% | $124 |
| 2023 | $9.12 | 0.18 | 0.43 | 0.61 | (0.16) | (0.08) | (0.24) | $9.49 | 7.07% | 0.83% | 1.91% | 21% | $33 |
| 2022 | $10.64 | 0.30 | (1.54) | (1.24) | (0.26) | (0.02) | (0.28) | $9.12 | (12.02)% | 0.83% | 1.04% | 13% | $30 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.63 | 0.64 |  |  |  | $10.64 | 6.40% | 0.83% | 0.12% | 2% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.19 | 0.22<sup>(3)</sup> | 0.89 | 1.11 | (0.24) | (0.13) | (0.37) | $11.93 | 10.05% | 1.08% | 3.72% | 11% | $90448 |
| 2025 | $10.45 | 0.19 | 0.89 | 1.08 | (0.22) | (0.12) | (0.34) | $11.19 | 10.63% | 1.08% | 1.78% | 24% | $77463 |
| 2024 | $9.48 | 0.16 | 0.95 | 1.11 | (0.14) |  | (0.14) | $10.45 | 11.85% | 1.08% | 1.96% | 23% | $441 |
| 2023 | $9.11 | 0.14 | 0.45 | 0.59 | (0.14) | (0.08) | (0.22) | $9.48 | 6.80% | 1.08% | 1.66% | 21% | $251 |
| 2022 | $10.63 | 0.27 | (1.53) | (1.26) | (0.24) | (0.02) | (0.26) | $9.11 | (12.22)% | 1.08% | 0.79% | 13% | $111 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.63 | 0.63 |  |  |  | $10.63 | 6.30% | 1.08% | (0.13)% | 2% | $33 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.25 | 0.27<sup>(3)</sup> | 0.89 | 1.16 | (0.34) | (0.13) | (0.47) | $11.94 | 10.49% | 0.23% | 4.57% | 11% | $43880 |
| 2025 | $10.50 | 0.30 | 0.88 | 1.18 | (0.31) | (0.12) | (0.43) | $11.25 | 11.63% | 0.23% | 2.63% | 24% | $40591 |
| 2024 | $9.53 | 0.26 | 0.93 | 1.19 | (0.22) |  | (0.22) | $10.50 | 12.74% | 0.23% | 2.81% | 23% | $36507 |
| 2023 | $9.16 | 0.23 | 0.44 | 0.67 | (0.22) | (0.08) | (0.30) | $9.53 | 7.70% | 0.23% | 2.51% | 21% | $27154 |
| 2022 | $10.66 | 0.33 | (1.50) | (1.17) | (0.31) | (0.02) | (0.33) | $9.16 | (11.37)% | 0.23% | 1.64% | 13% | $19654 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.63 | 0.66 |  |  |  | $10.66 | 6.60% | 0.23% | 0.72% | 2% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | **One Choice Blend+ 2045 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.46 | 0.26<sup>(3)</sup> | 1.02 | 1.28 | (0.30) | (0.17) | (0.47) | $12.27 | 11.27% | 0.58% | 4.22% | 11% | $8021 |
| 2025 | $10.65 | 0.24 | 1.02 | 1.26 | (0.26) | (0.19) | (0.45) | $11.46 | 12.20% | 0.58% | 2.09% | 23% | $6146 |
| 2024 | $9.62 | 0.21 | 1.02 | 1.23 | (0.18) | (0.02) | (0.20) | $10.65 | 13.03% | 0.58% | 2.22% | 43% | $4705 |
| 2023 | $9.15 | 0.17 | 0.57 | 0.74 | (0.18) | (0.09) | (0.27) | $9.62 | 8.47% | 0.58% | 1.89% | 24% | $2792 |
| 2022 | $10.68 | 0.32 | (1.56) | (1.24) | (0.29) |  | (0.29) | $9.15 | (11.94)% | 0.58% | 1.08% | 12% | $1719 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.67 | 0.68 |  |  |  | $10.68 | 6.80% | 0.58% | 0.24% | 10% | $431 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.47 | 0.27<sup>(3)</sup> | 1.02 | 1.29 | (0.32) | (0.17) | (0.49) | $12.27 | 11.40% | 0.38% | 4.42% | 11% | $22 |
| 2025 | $10.66 | 0.27 | 1.01 | 1.28 | (0.28) | (0.19) | (0.47) | $11.47 | 12.42% | 0.38% | 2.29% | 23% | $19 |
| 2024 | $9.63 | 0.24 | 1.01 | 1.25 | (0.20) | (0.02) | (0.22) | $10.66 | 13.25% | 0.38% | 2.42% | 43% | $17 |
| 2023 | $9.16 | 0.20 | 0.55 | 0.75 | (0.19) | (0.09) | (0.28) | $9.63 | 8.69% | 0.38% | 2.09% | 24% | $15 |
| 2022 | $10.69 | 0.34 | (1.56) | (1.22) | (0.31) |  | (0.31) | $9.16 | (11.79)% | 0.38% | 1.28% | 12% | $14 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.67 | 0.69 |  |  |  | $10.69 | 6.90% | 0.38% | 0.44% | 10% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.44 | 0.24<sup>(3)</sup> | 1.03 | 1.27 | (0.27) | (0.17) | (0.44) | $12.27 | 11.19% | 0.83% | 3.97% | 11% | $725 |
| 2025 | $10.63 | 0.21 | 1.02 | 1.23 | (0.23) | (0.19) | (0.42) | $11.44 | 11.94% | 0.83% | 1.84% | 23% | $609 |
| 2024 | $9.60 | 0.14 | 1.07 | 1.21 | (0.16) | (0.02) | (0.18) | $10.63 | 12.78% | 0.83% | 1.97% | 43% | $38 |
| 2023 | $9.14 | 0.17 | 0.54 | 0.71 | (0.16) | (0.09) | (0.25) | $9.60 | 8.10% | 0.83% | 1.64% | 24% | $5 |
| 2022 | $10.67 | 0.31 | (1.57) | (1.26) | (0.27) |  | (0.27) | $9.14 | (12.14)% | 0.83% | 0.83% | 12% | $5 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.67 | 0.67 |  |  |  | $10.67 | 6.70% | 0.83% | (0.01)% | 10% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.42 | 0.22<sup>(3)</sup> | 1.03 | 1.25 | (0.24) | (0.17) | (0.41) | $12.26 | 11.02% | 1.08% | 3.72% | 11% | $74286 |
| 2025 | $10.62 | 0.17 | 1.02 | 1.19 | (0.20) | (0.19) | (0.39) | $11.42 | 11.57% | 1.08% | 1.59% | 23% | $63846 |
| 2024 | $9.59 | 0.16 | 1.02 | 1.18 | (0.13) | (0.02) | (0.15) | $10.62 | 12.51% | 1.08% | 1.72% | 43% | $489 |
| 2023 | $9.13 | 0.13 | 0.55 | 0.68 | (0.13) | (0.09) | (0.22) | $9.59 | 7.83% | 1.08% | 1.39% | 24% | $269 |
| 2022 | $10.66 | 0.26 | (1.54) | (1.28) | (0.25) |  | (0.25) | $9.13 | (12.33)% | 1.08% | 0.58% | 12% | $60 |
| 2021<sup>(4)</sup> | $10.00 | (0.01)<sup>(3)</sup> | 0.67 | 0.66 |  |  |  | $10.66 | 6.60% | 1.08% | (0.26)% | 10% | $15 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.48 | 0.28<sup>(3)</sup> | 1.02 | 1.30 | (0.34) | (0.17) | (0.51) | $12.27 | 11.47% | 0.23% | 4.57% | 11% | $53158 |
| 2025 | $10.67 | 0.29 | 1.00 | 1.29 | (0.29) | (0.19) | (0.48) | $11.48 | 12.58% | 0.23% | 2.44% | 23% | $47713 |
| 2024 | $9.63 | 0.25 | 1.03 | 1.28 | (0.22) | (0.02) | (0.24) | $10.67 | 13.52% | 0.23% | 2.57% | 43% | $44042 |
| 2023 | $9.17 | 0.22 | 0.54 | 0.76 | (0.21) | (0.09) | (0.30) | $9.63 | 8.74% | 0.23% | 2.24% | 24% | $30626 |
| 2022 | $10.70 | 0.34 | (1.54) | (1.20) | (0.33) |  | (0.33) | $9.17 | (11.67)% | 0.23% | 1.43% | 12% | $22372 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.67 | 0.70 |  |  |  | $10.70 | 7.00% | 0.23% | 0.59% | 10% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | **One Choice Blend+ 2050 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.82 | 0.26<sup>(3)</sup> | 1.15 | 1.41 | (0.29) | (0.18) | (0.47) | $12.76 | 12.12% | 0.58% | 4.15% | 12% | $4970 |
| 2025 | $10.80 | 0.22 | 1.14 | 1.36 | (0.24) | (0.10) | (0.34) | $11.82 | 12.91% | 0.58% | 1.86% | 21% | $4329 |
| 2024 | $9.69 | 0.19 | 1.13 | 1.32 | (0.17) | (0.04) | (0.21) | $10.80 | 13.86% | 0.58% | 2.05% | 18% | $3265 |
| 2023 | $9.14 | 0.16 | 0.64 | 0.80 | (0.16) | (0.09) | (0.25) | $9.69 | 9.20% | 0.58% | 1.73% | 20% | $1859 |
| 2022 | $10.70 | 0.35 | (1.59) | (1.24) | (0.32) |  | (0.32) | $9.14 | (12.05)% | 0.58% | 1.15% | 10% | $1482 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.69 | 0.70 |  |  |  | $10.70 | 7.10% | 0.58% | 0.14% | 12% | $822 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.83 | 0.31<sup>(3)</sup> | 1.12 | 1.43 | (0.32) | (0.18) | (0.50) | $12.76 | 12.25% | 0.38% | 4.35% | 12% | $45 |
| 2025 | $10.81 | 0.08 | 1.30 | 1.38 | (0.26) | (0.10) | (0.36) | $11.83 | 13.13% | 0.38% | 2.06% | 21% | $24 |
| 2024 | $9.70 | 0.36 | 0.98 | 1.34 | (0.19) | (0.04) | (0.23) | $10.81 | 14.07% | 0.38% | 2.25% | 18% | $6 |
| 2023 | $9.15 | 0.18 | 0.64 | 0.82 | (0.18) | (0.09) | (0.27) | $9.70 | 9.42% | 0.38% | 1.93% | 20% | $5 |
| 2022 | $10.72 | 0.37 | (1.60) | (1.23) | (0.34) |  | (0.34) | $9.15 | (11.89)% | 0.38% | 1.35% | 10% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.70 | 0.72 |  |  |  | $10.72 | 7.20% | 0.38% | 0.34% | 12% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.81 | 0.28<sup>(3)</sup> | 1.11 | 1.39 | (0.26) | (0.18) | (0.44) | $12.76 | 11.94% | 0.83% | 3.90% | 12% | $498 |
| 2025 | $10.78 | 0.17 | 1.17 | 1.34 | (0.21) | (0.10) | (0.31) | $11.81 | 12.74% | 0.83% | 1.61% | 21% | $255 |
| 2024 | $9.68 | 0.15 | 1.13 | 1.28 | (0.14) | (0.04) | (0.18) | $10.78 | 13.48% | 0.83% | 1.80% | 18% | $84 |
| 2023 | $9.13 | 0.14 | 0.64 | 0.78 | (0.14) | (0.09) | (0.23) | $9.68 | 8.93% | 0.83% | 1.48% | 20% | $5 |
| 2022 | $10.70 | 0.33 | (1.60) | (1.27) | (0.30) |  | (0.30) | $9.13 | (12.24)% | 0.83% | 0.90% | 10% | $5 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.70 | 0.70 |  |  |  | $10.70 | 7.00% | 0.83% | (0.11)% | 12% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.79 | 0.22<sup>(3)</sup> | 1.16 | 1.38 | (0.23) | (0.18) | (0.41) | $12.76 | 11.85% | 1.08% | 3.65% | 12% | $73282 |
| 2025 | $10.76 | 0.18 | 1.13 | 1.31 | (0.18) | (0.10) | (0.28) | $11.79 | 12.48% | 1.08% | 1.36% | 21% | $63109 |
| 2024 | $9.66 | 0.13 | 1.13 | 1.26 | (0.12) | (0.04) | (0.16) | $10.76 | 13.23% | 1.08% | 1.55% | 18% | $438 |
| 2023 | $9.11 | 0.11 | 0.65 | 0.76 | (0.12) | (0.09) | (0.21) | $9.66 | 8.67% | 1.08% | 1.23% | 20% | $231 |
| 2022 | $10.68 | 0.29 | (1.58) | (1.29) | (0.28) |  | (0.28) | $9.11 | (12.45)% | 1.08% | 0.65% | 10% | $195 |
| 2021<sup>(4)</sup> | $10.00 | (0.01)<sup>(3)</sup> | 0.69 | 0.68 |  |  |  | $10.68 | 6.80% | 1.08% | (0.36)% | 12% | $105 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $11.84 | 0.29<sup>(3)</sup> | 1.15 | 1.44 | (0.34) | (0.18) | (0.52) | $12.76 | 12.32% | 0.23% | 4.50% | 12% | $49738 |
| 2025 | $10.81 | 0.27 | 1.14 | 1.41 | (0.28) | (0.10) | (0.38) | $11.84 | 13.39% | 0.23% | 2.21% | 21% | $44211 |
| 2024 | $9.71 | 0.22 | 1.12 | 1.34 | (0.20) | (0.04) | (0.24) | $10.81 | 14.12% | 0.23% | 2.40% | 18% | $38205 |
| 2023 | $9.16 | 0.19 | 0.64 | 0.83 | (0.19) | (0.09) | (0.28) | $9.71 | 9.58% | 0.23% | 2.08% | 20% | $23167 |
| 2022 | $10.72 | 0.37 | (1.57) | (1.20) | (0.36) |  | (0.36) | $9.16 | (11.69)% | 0.23% | 1.50% | 10% | $15032 |
| 2021<sup>(4)</sup> | $10.00 | 0.03<sup>(3)</sup> | 0.69 | 0.72 |  |  |  | $10.72 | 7.20% | 0.23% | 0.49% | 12% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | **One Choice Blend+ 2055 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.00 | 0.26<sup>(3)</sup> | 1.27 | 1.53 | (0.29) | (0.18) | (0.47) | $13.06 | 12.89% | 0.58% | 4.09% | 13% | $4643 |
| 2025 | $10.90 | 0.21 | 1.22 | 1.43 | (0.23) | (0.10) | (0.33) | $12.00 | 13.44% | 0.58% | 1.60% | 26% | $3719 |
| 2024 | $9.71 | 0.18 | 1.17 | 1.35 | (0.16) |  | (0.16) | $10.90 | 14.13% | 0.58% | 1.90% | 18% | $2282 |
| 2023 | $9.14 | 0.14 | 0.70 | 0.84 | (0.16) | (0.11) | (0.27) | $9.71 | 9.69% | 0.58% | 1.60% | 34% | $1296 |
| 2022 | $10.73 | 0.36 | (1.62) | (1.26) | (0.33) |  | (0.33) | $9.14 | (12.17)% | 0.58% | 1.09% | 20% | $696 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.73 | 0.73 |  |  |  | $10.73 | 7.30% | 0.58% | 0.12% | 10% | $413 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.02 | 0.37<sup>(3)</sup> | 1.17 | 1.54 | (0.31) | (0.18) | (0.49) | $13.07 | 13.02% | 0.38% | 4.29% | 13% | $18 |
| 2025 | $10.91 | 0.23 | 1.24 | 1.47 | (0.26) | (0.10) | (0.36) | $12.02 | 13.75% | 0.38% | 1.80% | 26% | $7 |
| 2024 | $9.72 | 0.21 | 1.16 | 1.37 | (0.18) |  | (0.18) | $10.91 | 14.35% | 0.38% | 2.10% | 18% | $6 |
| 2023 | $9.15 | 0.17 | 0.69 | 0.86 | (0.18) | (0.11) | (0.29) | $9.72 | 9.90% | 0.38% | 1.80% | 34% | $5 |
| 2022 | $10.73 | 0.38 | (1.61) | (1.23) | (0.35) |  | (0.35) | $9.15 | (11.93)% | 0.38% | 1.29% | 20% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.71 | 0.73 |  |  |  | $10.73 | 7.30% | 0.38% | 0.32% | 10% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.98 | 0.34<sup>(3)</sup> | 1.17 | 1.51 | (0.25) | (0.18) | (0.43) | $13.06 | 12.80% | 0.83% | 3.84% | 13% | $199 |
| 2025 | $10.89 | 0.16 | 1.24 | 1.40 | (0.21) | (0.10) | (0.31) | $11.98 | 13.07% | 0.83% | 1.35% | 26% | $71 |
| 2024 | $9.70 | 0.16 | 1.17 | 1.33 | (0.14) |  | (0.14) | $10.89 | 13.86% | 0.83% | 1.65% | 18% | $30 |
| 2023 | $9.12 | 0.13 | 0.70 | 0.83 | (0.14) | (0.11) | (0.25) | $9.70 | 9.54% | 0.83% | 1.35% | 34% | $5 |
| 2022 | $10.71 | 0.33 | (1.61) | (1.28) | (0.31) |  | (0.31) | $9.12 | (12.38)% | 0.83% | 0.84% | 20% | $5 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.71 | 0.71 |  |  |  | $10.71 | 7.10% | 0.83% | (0.13)% | 10% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $11.97 | 0.22<sup>(3)</sup> | 1.26 | 1.48 | (0.22) | (0.18) | (0.40) | $13.05 | 12.62% | 1.08% | 3.59% | 13% | $56663 |
| 2025 | $10.87 | 0.16 | 1.22 | 1.38 | (0.18) | (0.10) | (0.28) | $11.97 | 12.81% | 1.08% | 1.10% | 26% | $49010 |
| 2024 | $9.68 | 0.13 | 1.17 | 1.30 | (0.11) |  | (0.11) | $10.87 | 13.61% | 1.08% | 1.40% | 18% | $372 |
| 2023 | $9.11 | 0.11 | 0.69 | 0.80 | (0.12) | (0.11) | (0.23) | $9.68 | 9.16% | 1.08% | 1.10% | 34% | $212 |
| 2022 | $10.70 | 0.31 | (1.61) | (1.30) | (0.29) |  | (0.29) | $9.11 | (12.57)% | 1.08% | 0.59% | 20% | $185 |
| 2021<sup>(4)</sup> | $10.00 | (0.01)<sup>(3)</sup> | 0.71 | 0.70 |  |  |  | $10.70 | 7.00% | 1.08% | (0.38)% | 10% | $19 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.04 | 0.29<sup>(3)</sup> | 1.26 | 1.55 | (0.33) | (0.18) | (0.51) | $13.08 | 13.08% | 0.23% | 4.44% | 13% | $31862 |
| 2025 | $10.93 | 0.25 | 1.23 | 1.48 | (0.27) | (0.10) | (0.37) | $12.04 | 13.89% | 0.23% | 1.95% | 26% | $27527 |
| 2024 | $9.74 | 0.22 | 1.17 | 1.39 | (0.20) |  | (0.20) | $10.93 | 14.49% | 0.23% | 2.25% | 18% | $24200 |
| 2023 | $9.16 | 0.18 | 0.70 | 0.88 | (0.19) | (0.11) | (0.30) | $9.74 | 10.17% | 0.23% | 1.95% | 34% | $12875 |
| 2022 | $10.74 | 0.38 | (1.60) | (1.22) | (0.36) |  | (0.36) | $9.16 | (11.81)% | 0.23% | 1.44% | 20% | $9578 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.72 | 0.74 |  |  |  | $10.74 | 7.40% | 0.23% | 0.47% | 10% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | **One Choice Blend+ 2060 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.16 | 0.27<sup>(3)</sup> | 1.28 | 1.55 | (0.29) | (0.14) | (0.43) | $13.28 | 12.94% | 0.58% | 4.06% | 13% | $6746 |
| 2025 | $11.01 | 0.21 | 1.27 | 1.48 | (0.22) | (0.11) | (0.33) | $12.16 | 13.75% | 0.58% | 1.49% | 17% | $5311 |
| 2024 | $9.82 | 0.17 | 1.22 | 1.39 | (0.16) | (0.04) | (0.20) | $11.01 | 14.45% | 0.58% | 1.81% | 22% | $3078 |
| 2023 | $9.15 | 0.14 | 0.75 | 0.89 | (0.14) | (0.08) | (0.22) | $9.82 | 10.08% | 0.59% | 1.51% | 23% | $1535 |
| 2022 | $10.73 | 0.33 | (1.59) | (1.26) | (0.31) | (0.01) | (0.32) | $9.15 | (12.16)% | 0.58% | 1.17% | 19% | $687 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.72 | 0.73 |  |  |  | $10.73 | 7.30% | 0.58% | 0.19% | 13% | $304 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.16 | 0.31<sup>(3)</sup> | 1.27 | 1.58 | (0.32) | (0.14) | (0.46) | $13.28 | 13.16% | 0.38% | 4.26% | 13% | $81 |
| 2025 | $11.01 | 0.21 | 1.29 | 1.50 | (0.24) | (0.11) | (0.35) | $12.16 | 13.97% | 0.38% | 1.69% | 17% | $28 |
| 2024 | $9.82 | 0.20 | 1.21 | 1.41 | (0.18) | (0.04) | (0.22) | $11.01 | 14.67% | 0.38% | 2.01% | 22% | $14 |
| 2023 | $9.16 | 0.17 | 0.73 | 0.90 | (0.16) | (0.08) | (0.24) | $9.82 | 10.18% | 0.39% | 1.71% | 23% | $12 |
| 2022 | $10.73 | 0.27 | (1.50) | (1.23) | (0.33) | (0.01) | (0.34) | $9.16 | (11.92)% | 0.38% | 1.37% | 19% | $11 |
| 2021<sup>(4)</sup> | $10.00 | 0.01<sup>(3)</sup> | 0.72 | 0.73 |  |  |  | $10.73 | 7.30% | 0.38% | 0.39% | 13% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.14 | 0.36<sup>(3)</sup> | 1.18 | 1.54 | (0.26) | (0.14) | (0.40) | $13.28 | 12.84% | 0.83% | 3.81% | 13% | $225 |
| 2025 | $10.99 | 0.16 | 1.29 | 1.45 | (0.19) | (0.11) | (0.30) | $12.14 | 13.48% | 0.83% | 1.24% | 17% | $55 |
| 2024 | $9.79 | 0.15 | 1.23 | 1.38 | (0.14) | (0.04) | (0.18) | $10.99 | 14.30% | 0.83% | 1.56% | 22% | $20 |
| 2023 | $9.13 | 0.12 | 0.74 | 0.86 | (0.12) | (0.08) | (0.20) | $9.79 | 9.71% | 0.84% | 1.26% | 23% | $6 |
| 2022 | $10.71 | 0.33 | (1.61) | (1.28) | (0.29) | (0.01) | (0.30) | $9.13 | (12.37)% | 0.83% | 0.92% | 19% | $5 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.71 | 0.71 |  |  |  | $10.71 | 7.10% | 0.83% | (0.06)% | 13% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.11 | 0.23<sup>(3)</sup> | 1.30 | 1.53 | (0.23) | (0.14) | (0.37) | $13.27 | 12.76% | 1.08% | 3.56% | 13% | $63240 |
| 2025 | $10.97 | 0.13 | 1.28 | 1.41 | (0.16) | (0.11) | (0.27) | $12.11 | 13.13% | 1.08% | 0.99% | 17% | $52039 |
| 2024 | $9.78 | 0.05 | 1.30 | 1.35 | (0.12) | (0.04) | (0.16) | $10.97 | 13.93% | 1.08% | 1.31% | 22% | $261 |
| 2023 | $9.12 | 0.20 | 0.64 | 0.84 | (0.10) | (0.08) | (0.18) | $9.78 | 9.43% | 1.09% | 1.01% | 23% | $87 |
| 2022 | $10.70 | 0.27 | (1.57) | (1.30) | (0.27) | (0.01) | (0.28) | $9.12 | (12.56)% | 1.08% | 0.67% | 19% | $98 |
| 2021<sup>(4)</sup> | $10.00 | (0.01)<sup>(3)</sup> | 0.71 | 0.70 |  |  |  | $10.70 | 7.00% | 1.08% | (0.31)% | 13% | $21 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.17 | 0.28<sup>(3)</sup> | 1.31 | 1.59 | (0.34) | (0.14) | (0.48) | $13.28 | 13.24% | 0.23% | 4.41% | 13% | $18782 |
| 2025 | $11.02 | 0.25 | 1.27 | 1.52 | (0.26) | (0.11) | (0.37) | $12.17 | 14.13% | 0.23% | 1.84% | 17% | $17640 |
| 2024 | $9.83 | 0.22 | 1.21 | 1.43 | (0.20) | (0.04) | (0.24) | $11.02 | 14.83% | 0.23% | 2.16% | 22% | $14476 |
| 2023 | $9.16 | 0.16 | 0.76 | 0.92 | (0.17) | (0.08) | (0.25) | $9.83 | 10.46% | 0.24% | 1.86% | 23% | $8366 |
| 2022 | $10.74 | 0.36 | (1.58) | (1.22) | (0.35) | (0.01) | (0.36) | $9.16 | (11.90)% | 0.23% | 1.52% | 19% | $3871 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.72 | 0.74 |  |  |  | $10.74 | 7.40% | 0.23% | 0.54% | 13% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | **One Choice Blend+ 2065 Portfolio** | | | | | | | | | |
| **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.18 | 0.27<sup>(3)</sup> | 1.31 | 1.58 | (0.27) | (0.11) | (0.38) | $13.38 | 13.07% | 0.58% | 4.18% | 9% | $6221 |
| 2025 | $10.94 | 0.21 | 1.25 | 1.46 | (0.22) |  | (0.22) | $12.18 | 13.51% | 0.58% | 1.72% | 16% | $5101 |
| 2024 | $9.71 | 0.17 | 1.22 | 1.39 | (0.16) |  | (0.16) | $10.94 | 14.56% | 0.58% | 1.75% | 17% | $3479 |
| 2023 | $9.19 | 0.14 | 0.73 | 0.87 | (0.17) | (0.18) | (0.35) | $9.71 | 10.06% | 0.59% | 1.26% | 64% | $2032 |
| 2022 | $10.79 | 0.36 | (1.63) | (1.27) | (0.33) |  | (0.33) | $9.19 | (12.20)% | 0.58% | 2.57% | 45% | $1145 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.79 | 0.79 |  |  |  | $10.79 | 7.90% | 0.58% | 0.13% | 19% | $541 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.19 | 0.31<sup>(3)</sup> | 1.27 | 1.58 | (0.29) | (0.11) | (0.40) | $13.37 | 13.12% | 0.38% | 4.38% | 9% | $24 |
| 2025 | $10.94 | 0.21 | 1.28 | 1.49 | (0.24) |  | (0.24) | $12.19 | 13.83% | 0.38% | 1.92% | 16% | $14 |
| 2024 | $9.71 | 0.20 | 1.21 | 1.41 | (0.18) |  | (0.18) | $10.94 | 14.79% | 0.38% | 1.95% | 17% | $6 |
| 2023 | $9.20 | 0.17 | 0.71 | 0.88 | (0.19) | (0.18) | (0.37) | $9.71 | 10.17% | 0.39% | 1.46% | 64% | $5 |
| 2022 | $10.80 | 0.38 | (1.63) | (1.25) | (0.35) |  | (0.35) | $9.20 | (12.05)% | 0.38% | 2.77% | 45% | $5 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.78 | 0.80 |  |  |  | $10.80 | 8.00% | 0.38% | 0.33% | 19% | $5 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.16 | 0.35<sup>(3)</sup> | 1.20 | 1.55 | (0.23) | (0.11) | (0.34) | $13.37 | 12.89% | 0.83% | 3.93% | 9% | $797 |
| 2025 | $10.91 | 0.17 | 1.27 | 1.44 | (0.19) |  | (0.19) | $12.16 | 13.36% | 0.83% | 1.47% | 16% | $242 |
| 2024 | $9.69 | 0.16 | 1.20 | 1.36 | (0.14) |  | (0.14) | $10.91 | 14.20% | 0.83% | 1.50% | 17% | $140 |
| 2023 | $9.17 | 0.13 | 0.72 | 0.85 | (0.15) | (0.18) | (0.33) | $9.69 | 9.80% | 0.84% | 1.01% | 64% | $5 |
| 2022 | $10.78 | 0.33 | (1.63) | (1.30) | (0.31) |  | (0.31) | $9.17 | (12.49)% | 0.83% | 2.32% | 45% | $5 |
| 2021<sup>(4)</sup> | $10.00 | —<sup>(3)(5)</sup> | 0.78 | 0.78 |  |  |  | $10.78 | 7.80% | 0.83% | (0.12)% | 19% | $5 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $12.14 | 0.24<sup>(3)</sup> | 1.29 | 1.53 | (0.20) | (0.11) | (0.31) | $13.36 | 12.72% | 1.08% | 3.68% | 9% | $3213 |
| 2025 | $10.90 | 0.15 | 1.25 | 1.40 | (0.16) |  | (0.16) | $12.14 | 12.99% | 1.08% | 1.22% | 16% | $1504 |
| 2024 | $9.68 | 0.14 | 1.19 | 1.33 | (0.11) |  | (0.11) | $10.90 | 13.93% | 1.08% | 1.25% | 17% | $734 |
| 2023 | $9.16 | 0.11 | 0.71 | 0.82 | (0.12) | (0.18) | (0.30) | $9.68 | 9.53% | 1.09% | 0.76% | 64% | $297 |
| 2022 | $10.77 | 0.26 | (1.59) | (1.33) | (0.28) |  | (0.28) | $9.16 | (12.68)% | 1.08% | 2.07% | 45% | $206 |
| 2021<sup>(4)</sup> | $10.00 | (0.01)<sup>(3)</sup> | 0.78 | 0.77 |  |  |  | $10.77 | 7.70% | 1.08% | (0.37)% | 19% | $49 |

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------

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net** <br>**Investment** <br>**Income** | **Net** <br>**Realized** <br>**Gains** | **Total** <br>**Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **R6 Class** | | | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $12.20 | 0.29<sup>(3)</sup> | 1.31 | 1.60 | (0.31) | (0.11) | (0.42) | $13.38 | 13.28% | 0.23% | 4.53% | 9% | $9165 |
| 2025 | $10.95 | 0.25 | 1.26 | 1.51 | (0.26) |  | (0.26) | $12.20 | 13.99% | 0.23% | 2.07% | 16% | $7103 |
| 2024 | $9.72 | 0.19 | 1.24 | 1.43 | (0.20) |  | (0.20) | $10.95 | 14.94% | 0.23% | 2.10% | 17% | $4263 |
| 2023 | $9.21 | 0.21 | 0.68 | 0.89 | (0.20) | (0.18) | (0.38) | $9.72 | 10.33% | 0.24% | 1.61% | 64% | $1345 |
| 2022 | $10.80 | 0.37 | (1.60) | (1.23) | (0.36) |  | (0.36) | $9.21 | (11.84)% | 0.23% | 2.92% | 45% | $921 |
| 2021<sup>(4)</sup> | $10.00 | 0.02<sup>(3)</sup> | 0.78 | 0.80 |  |  |  | $10.80 | 8.00% | 0.23% | 0.48% | 19% | $5 |

---

**Notes to Financial Highlights**

(1)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.

(2)Six months ended January 31, 2026 (unaudited).

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

(4)March 10, 2021 (fund inception) through July 31, 2021.

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)** | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Distributions From Net <br>Investment <br>Income** | **Net Asset<br>Value, <br>End<br>of Period** | **Total** <br>**Return**<sup>(1)</sup> | **Operating**<br>**Expenses** | **Net <br>Investment <br>Income <br>(Loss)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period <br>(in <br>thousands)** |
| **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | **One Choice Blend+ 2070 Portfolio** | | | | | | | |
| **Investor Class** | | | | | | | | | | | |
| 2026<sup>(2)</sup> | $10.00 | 0.11<sup>(3)</sup> | 0.43 | 0.54 | (0.19) | $10.35 | 5.49% | 0.58% | 9.48% | 4% | $133 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.00 | 0.20<sup>(3)</sup> | 0.34 | 0.54 | (0.19) | $10.35 | 5.51% | 0.38% | 9.68% | 4% | $26 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.00 | 0.19<sup>(3)</sup> | 0.35 | 0.54 | (0.19) | $10.35 | 5.47% | 0.83% | 9.23% | 4% | $26 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.00 | 0.18<sup>(3)</sup> | 0.35 | 0.53 | (0.19) | $10.34 | 5.34% | 1.08% | 8.98% | 4% | $54 |
| **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(2)</sup> | $10.00 | 0.20<sup>(3)</sup> | 0.34 | 0.54 | (0.19) | $10.35 | 5.52% | 0.23% | 9.83% | 4% | $26 |

---

**Notes to Financial Highlights**

(1)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.

(2)December 1, 2025 (fund inception) through January 31, 2026 (unaudited).

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

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Approval of Management Agreements

At a meeting held on September 19, 2025, the Funds' 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 each 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, annually following an initial two-year period.

Prior to its consideration of the renewal of the Funds' management agreement, the Directors requested and reviewed data and information compiled by the Advisor and certain independent data providers concerning the Funds. This review was in addition to the oversight and evaluation undertaken by the Board and its committees on a continual basis and the information received was supplemental to the information that the Board and its committees receive and consider over time, including in connection with the review of other funds in the complex.

In connection with its consideration of the renewal of the Funds' 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 following:

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of owning each Fund compared to the cost of owning similarly managed funds;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's business continuity plans, vendor management practices, and information security practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of services provided to each Fund, the profitability of the Funds to the Advisor, and the Advisor's financial results of operation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• possible economies of scale associated with the Advisor's management of the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any collateral benefits derived by the Advisor from the management of the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fees and expenses associated with any investment by the Funds in other funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• payments to financial intermediaries by Funds and the Advisor and services provided by intermediaries in connection therewith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• services provided and charges to the Advisor's other investment management clients.

The Board held a meeting to consider the renewal. The independent Directors also met on three occasions in private session to review and discuss the information provided in response to their request. The independent Directors held active discussions with the Advisor regarding the renewal of the management agreement , requesting supplemental information from the Advisor and an independent data provider, and reviewing information provided by the Advisor in response thereto. 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 each 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 without limitation 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 each Fund. The Board noted that the Advisor provides or arranges at its own expense a wide variety of services which include, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• constructing and designing each Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• portfolio research and security selection

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• initial capitalization/funding

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• securities trading

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fund administration

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• custody of Fund assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• daily valuation of each Fund's portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity monitoring and management

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risk management, including information security

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• shareholder servicing and transfer agency, including shareholder confirmations, recordkeeping, and communications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• legal services (except the independent Directors' counsel)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulatory and portfolio compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• financial reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• marketing and distribution (except amounts paid by each 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 Funds 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 each Fund in accordance with its investment objectives and principal investment strategies. Further, the Directors recognize that the Advisor has an obligation to monitor trading activities, and in particular to seek the best execution of fund trades, and to evaluate the use of and payment for research. 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 Fund Performance Review Committee, provides oversight of the investment performance process. It regularly reviews investment performance information for each 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 from both the Advisor and an independent third party during the management agreement renewal process. If performance concerns are identified, the Board discusses with the Advisor the reasons for such results and any actions being taken to improve performance and may conduct special reviews until performance improves.

The Board discussed the Funds' performance with the Advisor. The independent Directors requested, and the Advisor provided additional information relevant to the independent Directors' review. This information was supplemented by information requested by the independent Directors from a third-party provider of industry data. In addition, Advisor personnel met with the independent Directors and provided additional information and insight that addressed the independent Directors' follow-up questions and provided important detail and perspective on fund performance, and the marketing strategy for the funds with both institutional and retail customers. The discussions included, among other things, the impact of the Funds' investment strategy and glide path on performance relative to their peers, and, as a result, makes comparisons challenging. The independent Directors found that the Funds' performance has been consistent over time with their investment policies and construction given market conditions, noting that fund shareholders have generally selected these products based on their specific investment approach and the Directors discussed with the Advisor the importance of disclosures that explain the unique characteristics of the Funds' glide path and approach to helping investors meet their investment objectives. The Board found the investment management services provided by the Advisor to each Fund to be satisfactory and consistent with the management agreement.

**Shareholder and Other Services.** Under the management agreement, the Advisor provides the Funds 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, auditing services, and legal and operational compliance activities. The Board found the services provided by the Advisor to each 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 Funds, its profitability in managing each Fund (pre- and post-distribution), and its financial results of operation. The Directors have reviewed with the Advisor the methodology used to prepare this financial information and determined that the allocation methodology was reasonable. This information was 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 Funds.

**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 each 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 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 content and services.

**Comparison to Other Funds' Fees.** Under the management agreement, the Advisor is paid a single, all-inclusive (or unified) management fee by each Fund. Separately, the Advisor has agreed to waive all management fees associated with the Funds' investments in the underlying

------

American Century Investments funds in which each Fund invests. Under the unified fee structure, the Advisor provides 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. The Advisor is responsible for providing all 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, distribution charges, 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 ratios of its peer expense universe and a narrower set of its expense group peers. In those instances where the fee level exceeds that of industry peers, the Board discussed with the Advisor the factors that impacted the level of the Fund's fee in relation to its peers. The Board concluded that the management fee paid by each 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 Directors 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 Funds. They observed that these varying types of client accounts require different services and involve different regulatory and entrepreneurial risks than the management of each Fund. The Board analyzed this information and concluded that the fees charged and services provided to the Funds were reasonable by comparison.

**Payments to Intermediaries.** The Directors also requested and received a description of payments made to intermediaries by each Fund and the Advisor and services provided in response thereto. These payments include various payments made by each Fund or the Advisor to different types of intermediaries and recordkeepers for distribution and service activities provided for each Fund. The Board reviewed such information and received representations from the Advisor that all such payments by the Funds were made pursuant to each 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 Funds. They concluded 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. To the extent there are potential collateral benefits, the Board has been advised and has taken this into consideration in its review of the management contract with the Funds. The Board noted that additional assets from other clients may offer the Advisor some benefit from increased leverage with prospective clients, service providers, and counterparties. Additionally, the Advisor may receive proprietary research from broker-dealers that execute fund portfolio transactions, which the Board concluded is likely to benefit other clients of the Advisor, as well as Fund shareholders. The Board also determined that the Advisor is able to provide investment management services to certain clients other than the Funds, at least in part, due to its existing infrastructure built to serve the fund complex.

**Existing Relationship.** The Board also considered whether there was any reason to not continue the existing arrangement with the Advisor. In this regard, the Board was mindful of the potential disruptions of the Funds' 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 Funds 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 each Fund.

Set forth below are certain of the Fund-specific factors that the Board considered in addition to the other factors described herein:

**One Choice Blend+ In Retirement Portfolio -** The Fund's performance was above its benchmark for the one- and three-year periods reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one- and three-year periods. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2025 Portfolio -** The Fund's performance was above its benchmark for the one- and three-year periods reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

------

**One Choice Blend+ 2030 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2035 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one- and three-year periods. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2040 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one- and three-year periods. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2045 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2050 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2055 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2060 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**One Choice Blend+ 2065 Portfolio -** The Fund's performance was above its benchmark for the one-year period and below its benchmark for the three-year period reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-year period and below for the three-year period. The unified fee charged to shareholders of the Fund was below the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers.

**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, determined that the terms of the management agreement with the Funds are fair and reasonable and that the management fee charged to each Fund is reasonable in light of the services provided and that the management agreement between the Funds and the Advisor should be renewed for an additional one-year period.

------

**One Choice Blend+ 2070 Portfolio**

At a meeting held on March 5, 2025, the Fund's Board of Directors (the "Board") unanimously approved the initial management agreement pursuant to which American Century Investment Management, Inc. (the "Advisor") acts as the investment advisor for the One Choice Blend+ 2070 Portfolio (the "New Fund"). Under the Investment Company Act of 1940, new contracts for investment advisory services are required to be approved by a majority of a fund's independent Directors.

In advance of the Board's consideration, the Advisor provided information concerning the New Fund. The materials reviewed and the discussions held detailed the investment objective and strategy proposed to be utilized by the Advisor, the New Fund's characteristics and key attributes, the rationale for launching the New Fund, the experience of the staff designated to manage the New Fund, the proposed pricing, and the markets in which the New Fund would be sold. The information considered and the discussions held included, but were not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the nature, extent, and quality of investment management and other services to be provided to the New Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the wide range of other programs and services the Advisor would provide to the New Fund and its shareholders on a routine and non-routine basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the New Fund's proposed investment objective and strategy, including a discussion of its anticipated investment performance and proposed benchmark;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's compliance policies, procedures, and regulatory experience; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any collateral benefits derived by the Advisor from the management of the New Fund.

Part of the Board's analysis of fee levels involves reviewing certain evaluative data compiled by an independent provider and comparing the New Fund's fee to the total expense ratio of expected peer funds. The annual management fees charged to shareholders of the New Fund were anticipated to be below the median of the total expense ratios of the fund's expected peer universe.

When considering the approval of the management agreement for the New Fund, the independent Directors considered the entrepreneurial risk that the Advisor assumes in launching a new fund. In particular, they considered the fact that the Advisor will assume a substantial part of the start-up costs of the New Fund and the risk that the New Fund will not grow to a level that will become profitable to the Advisor. The Board considered the position that the New Fund would take in the lineup of the American Century Investments' family of funds and the benefits to shareholders of existing funds of the broadened product offering. Finally, while not specifically discussed, but important in the decision to approve the management agreement, is the Directors' familiarity with the Advisor. A majority of the Board oversees and evaluates on a continuous basis the nature and quality of all services the Advisor performs for other funds within the American Century Investments' complex. As such, the Directors have confidence in the Advisor's integrity and competence in providing services to the New Fund.

The independent Directors considered all of the information provided by the Advisor and the independent Directors' independent counsel in connection with the approval, and evaluated such information for the New 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. The independent Directors concluded that the terms of the management agreement were fair and reasonable and that the management fee to be charged to the New Fund is reasonable in light of the services to be provided and should be approved.

------

---

| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>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.* | *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.* |
| **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-97415 2603** | **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-97415 2603** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| |
|:---|
| Semiannual Financial Statements and Other Information |
| January 31, 2026 |
| One Choice<sup>®</sup> Portfolio: Very Conservative |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AONIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AORHX) |
| One Choice<sup>®</sup> Portfolio: Conservative |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AOCIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AORSX) |
| One Choice<sup>®</sup> Portfolio: Moderate |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AOMIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AORMX) |
| One Choice<sup>®</sup> Portfolio: Aggressive |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AOGIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AORYX) |
| One Choice<sup>®</sup> Portfolio: Very Aggressive |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AOVIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AORVX) |

---

***Investors should carefully consider a fund's investment objectives, risks, charges and expenses. For this and additional information about a fund, including the Annual Shareholder Report, Semiannual Shareholder Report, Prospectus and Statement of Additional Information, visit americancentury.com/docs.***

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedules of Investments | [2](#ib5c2e8e119fc468b91ca49135daafe23_97) |
| Statements of Assets and Liabilities | [7](#ib5c2e8e119fc468b91ca49135daafe23_100) |
| Statements of Operations | [9](#ib5c2e8e119fc468b91ca49135daafe23_103) |
| Statements of Changes in Net Assets | [11](#ib5c2e8e119fc468b91ca49135daafe23_106) |
| Notes to Financial Statements | [14](#ib5c2e8e119fc468b91ca49135daafe23_109) |
| Financial Highlights | [24](#ib5c2e8e119fc468b91ca49135daafe23_115) |

---

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Portfolio: Very Conservative**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 56.4%** |  |  |
| Diversified Bond Fund Investor Class | 7994237 | $74106579 |
| High Income Fund Investor Class | 411810 | 3619806 |
| Inflation-Adjusted Bond Fund Investor Class | 2973418 | 31577694 |
| Short Duration Fund Investor Class | 4760133 | 47030109 |
| Short Duration Inflation Protection Bond Fund Investor Class | 4504415 | 47026089 |
|  |  | 203360277 |
| **Domestic Equity Funds — 20.4%** |  |  |
| Focused Large Cap Value Fund Investor Class | 1849410 | 20029106 |
| Growth Fund Investor Class | 206845 | 11583338 |
| Heritage Fund Investor Class | 337729 | 7011260 |
| Large Cap Equity Fund Investor Class | 427953 | 20665857 |
| Mid Cap Value Fund Investor Class | 527608 | 8130439 |
| Select Fund Investor Class | 20898 | 2685561 |
| Small Cap Dividend Fund Investor Class | 169858 | 1814087 |
| Small Cap Growth Fund Investor Class | 79512 | 1741308 |
|  |  | 73660956 |
| **International Fixed Income Funds — 16.2%** |  |  |
| Emerging Markets Debt Fund Investor Class | 756122 | 7213407 |
| Global Bond Fund Investor Class | 5905291 | 51376029 |
|  |  | 58589436 |
| **International Equity Funds — 4.5%** |  |  |
| Global Real Estate Fund Investor Class | 262742 | 3628471 |
| International Growth Fund Investor Class | 442032 | 6232647 |
| International Value Fund Investor Class | 552242 | 6350781 |
|  |  | 16211899 |
| **Money Market Funds — 2.5%** |  |  |
| U.S. Government Money Market Fund Investor Class | 9041309 | 9041309 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $341,344,073) |  | **360863877** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**360863877** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Portfolio: Conservative**

---

| | | |
|:---|:---|:---|
|<br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 40.6%** |  |  |
| Diversified Bond Fund Investor Class | 22681266 | $210255333 |
| High Income Fund Investor Class | 2497814 | 21955783 |
| Inflation-Adjusted Bond Fund Investor Class | 8482614 | 90085362 |
| Short Duration Fund Investor Class | 6651014 | 65712016 |
| Short Duration Inflation Protection Bond Fund Investor Class | 5248160 | 54790792 |
|  |  | 442799286 |
| **Domestic Equity Funds — 33.3%** |  |  |
| Focused Large Cap Value Fund Investor Class | 8391932 | 90884620 |
| Growth Fund Investor Class | 1141115 | 63902433 |
| Heritage Fund Investor Class | 1645826 | 34167344 |
| Large Cap Equity Fund Investor Class | 2193800 | 105938580 |
| Mid Cap Value Fund Investor Class | 2485907 | 38307826 |
| Select Fund Investor Class | 105270 | 13528184 |
| Small Cap Dividend Fund Investor Class | 777286 | 8301410 |
| Small Cap Growth Fund Investor Class | 363395 | 7958343 |
|  |  | 362988740 |
| **International Fixed Income Funds — 12.8%** |  |  |
| Emerging Markets Debt Fund Investor Class | 2294119 | 21885898 |
| Global Bond Fund Investor Class | 13476590 | 117246335 |
|  |  | 139132233 |
| **International Equity Funds — 11.5%** |  |  |
| Global Real Estate Fund Investor Class | 1396324 | 19283230 |
| International Growth Fund Investor Class | 3249897 | 45823553 |
| International Small-Mid Cap Fund Investor Class | 1080801 | 13574861 |
| International Value Fund Investor Class | 4043753 | 46503158 |
|  |  | 125184802 |
| **Money Market Funds — 1.8%** |  |  |
| U.S. Government Money Market Fund Investor Class | 19215093 | 19215093 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $964,673,585) |  | **1089320154** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1089320154** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Portfolio: Moderate**

---

| | | |
|:---|:---|:---|
|<br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 42.3%** |  |  |
| Focused Dynamic Growth Fund Investor Class | 473743 | $36648770 |
| Focused Large Cap Value Fund Investor Class | 17547585 | 190040343 |
| Growth Fund Investor Class | 2316803 | 129740959 |
| Heritage Fund Investor Class | 3883780 | 80627282 |
| Large Cap Equity Fund Investor Class | 4485725 | 216615650 |
| Mid Cap Value Fund Investor Class | 5528331 | 85191584 |
| Select Fund Investor Class | 106400 | 13673481 |
| Small Cap Growth Fund Investor Class | 683358 | 14965549 |
| Small Cap Value Fund Investor Class | 1651474 | 15441281 |
|  |  | 782944899 |
| **Domestic Fixed Income Funds — 26.7%** |  |  |
| Core Plus Fund Investor Class | 28602731 | 266005394 |
| High Income Fund Investor Class | 4201594 | 36932007 |
| Inflation-Adjusted Bond Fund Investor Class | 9467949 | 100549623 |
| Short Duration Fund Investor Class | 7449219 | 73598282 |
| Short Duration Inflation Protection Bond Fund Investor Class | 1757345 | 18346682 |
|  |  | 495431988 |
| **International Equity Funds — 22.1%** |  |  |
| Emerging Markets Fund Investor Class | 4881908 | 79428645 |
| Global Real Estate Fund Investor Class | 3393940 | 46870316 |
| International Growth Fund Investor Class | 8269639 | 116601910 |
| International Small-Mid Cap Fund Investor Class | 3542626 | 44495381 |
| International Value Fund Investor Class | 7159385 | 82332930 |
| Non-U.S. Intrinsic Value Fund Investor Class | 3622937 | 39526245 |
|  |  | 409255427 |
| **International Fixed Income Funds — 8.2%** |  |  |
| Emerging Markets Debt Fund Investor Class | 3896674 | 37174275 |
| Global Bond Fund Investor Class | 13179926 | 114665354 |
|  |  | 151839629 |
| **Money Market Funds — 0.7%** |  |  |
| U.S. Government Money Market Fund Investor Class | 13762063 | 13762063 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $1,524,641,046) |  | **1853234006** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1853234006** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Portfolio: Aggressive**

---

| | | |
|:---|:---|:---|
|<br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 52.8%** |  |  |
| Focused Dynamic Growth Fund Investor Class | 549998 | $42547843 |
| Focused Large Cap Value Fund Investor Class | 10788523 | 116839699 |
| Growth Fund Investor Class | 1223313 | 68505545 |
| Heritage Fund Investor Class | 2446298 | 50785148 |
| Large Cap Equity Fund Investor Class | 2628237 | 126917582 |
| Mid Cap Value Fund Investor Class | 3473949 | 53533548 |
| Small Cap Growth Fund Investor Class | 538845 | 11800709 |
| Small Cap Value Fund Investor Class | 1288111 | 12043836 |
|  |  | 482973910 |
| **International Equity Funds — 29.4%** |  |  |
| Emerging Markets Fund Investor Class | 3361079 | 54684762 |
| Global Real Estate Fund Investor Class | 2174753 | 30033344 |
| International Growth Fund Investor Class | 5358862 | 75559959 |
| International Small-Mid Cap Fund Investor Class | 2500679 | 31408531 |
| International Value Fund Investor Class | 3755781 | 43191484 |
| Non-U.S. Intrinsic Value Fund Investor Class | 3126984 | 34115398 |
|  |  | 268993478 |
| **Domestic Fixed Income Funds — 13.9%** |  |  |
| Core Plus Fund Investor Class | 8269080 | 76902446 |
| High Income Fund Investor Class | 2330437 | 20484542 |
| Inflation-Adjusted Bond Fund Investor Class | 2121160 | 22526723 |
| Short Duration Fund Investor Class | 230379 | 2276145 |
| Short Duration Inflation Protection Bond Fund Investor Class | 433079 | 4521346 |
|  |  | 126711202 |
| **International Fixed Income Funds — 3.7%** |  |  |
| Emerging Markets Debt Fund Investor Class | 1200667 | 11454366 |
| Global Bond Fund Investor Class | 2601775 | 22635440 |
|  |  | 34089806 |
| **Money Market Funds — 0.2%** |  |  |
| U.S. Government Money Market Fund Investor Class | 2261010 | 2261010 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $672,029,802) |  | **915029406** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**915029406** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice Portfolio: Very Aggressive**

---

| | | |
|:---|:---|:---|
|<br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 61.7%** |  |  |
| Focused Dynamic Growth Fund Investor Class | 296285 | $22920644 |
| Focused Large Cap Value Fund Investor Class | 4504272 | 48781266 |
| Growth Fund Investor Class | 636309 | 35633285 |
| Heritage Fund Investor Class | 1139252 | 23650865 |
| Large Cap Equity Fund Investor Class | 1126637 | 54405282 |
| Mid Cap Value Fund Investor Class | 1601768 | 24683248 |
| Small Cap Growth Fund Investor Class | 293109 | 6419096 |
| Small Cap Value Fund Investor Class | 808765 | 7561949 |
|  |  | 224055635 |
| **International Equity Funds — 38.3%** |  |  |
| Emerging Markets Fund Investor Class | 2021659 | 32892396 |
| Global Real Estate Fund Investor Class | 1058722 | 14620952 |
| International Growth Fund Investor Class | 2389238 | 33688258 |
| International Small-Mid Cap Fund Investor Class | 1601176 | 20110773 |
| International Value Fund Investor Class | 1559609 | 17935509 |
| Non-U.S. Intrinsic Value Fund Investor Class | 1844392 | 20122312 |
|  |  | 139370200 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $244,903,841) |  | **363425835** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**363425835** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | | |
|:---|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | | |
| | **One Choice<br>Portfolio:<br>Very Conservative** | **One Choice<br>Portfolio:<br>Conservative** | **One Choice <br>Portfolio: <br>Moderate** |
| **Assets** | | | |
| Investment securities - affiliated, at value | $360863877 | $1089320154 | $1853234006 |
| Cash |  |  | 10000 |
| Receivable for investments sold | 113456 | 507049 | 100678 |
| Receivable for capital shares sold | 16372 | 41174 | 420772 |
| Distributions receivable from underlying funds | 490840 | 1195688 | 1541891 |
|  | 361484545 | 1091064065 | 1855307347 |
| **Liabilities** |  |  |  |
| Payable for investments purchased | 490840 | 1195688 | 1541891 |
| Payable for capital shares redeemed | 129155 | 547481 | 524436 |
| Distribution and service fees payable | 673 | 742 | 7014 |
|  | 620668 | 1743911 | 2073341 |
| **Net Assets** | $360863877 | $1089320154 | $1853234006 |
| **Net Assets Consist of:** |  |  |  |
| Capital (par value and paid-in surplus) | $340565481 | $936472987 | $1443367851 |
| Distributable earnings (loss) | 20298396 | 152847167 | 409866155 |
|  | $360863877 | $1089320154 | $1853234006 |
| Investment securities - affiliated, at cost | $341344073 | $964673585 | $1524641046 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** |
| Investor Class, $0.01 Par Value | $359283245 | 29995972 | $11.98 |
| R Class, $0.01 Par Value | $1580632 | 131835 | $11.99 |
| **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** |
| Investor Class, $0.01 Par Value | $1087571440 | 78330110 | $13.88 |
| R Class, $0.01 Par Value | $1748714 | 125963 | $13.88 |
| **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** |
| Investor Class, $0.01 Par Value | $1836581815 | 111544088 | $16.47 |
| R Class, $0.01 Par Value | $16652191 | 1011438 | $16.46 |

---

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>Portfolio:<br>Aggressive** | **One Choice<br>Portfolio:<br>Very Aggressive** |
| **Assets** | | |
| Investment securities - affiliated, at value | $915029406 | $363425835 |
| Cash | 5000 |  |
| Receivable for investments sold | 544275 | 66115 |
| Receivable for capital shares sold | 64548 | 38537 |
| Distributions receivable from underlying funds | 426723 |  |
|  | 916069952 | 363530487 |
| **Liabilities** |  |  |
| Payable for investments purchased | 426723 |  |
| Payable for capital shares redeemed | 611916 | 101260 |
| Distribution and service fees payable | 1907 | 3392 |
|  | 1040546 | 104652 |
| **Net Assets** | $915029406 | $363425835 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $629257342 | $223878434 |
| Distributable earnings (loss) | 285772064 | 139547401 |
|  | $915029406 | $363425835 |
| Investment securities - affiliated, at cost | $672029802 | $244903841 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** |
| Investor Class, $0.01 Par Value | $910478038 | 52034700 | $17.50 |
| R Class, $0.01 Par Value | $4551368 | 259598 | $17.53 |
| **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** |
| Investor Class, $0.01 Par Value | $355385943 | 16401442 | $21.67 |
| R Class, $0.01 Par Value | $8039892 | 370254 | $21.71 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | | |
|:---|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice<br>Portfolio:<br>Very Conservative** | **One Choice<br>Portfolio:<br>Conservative** | **One Choice <br>Portfolio: <br>Moderate** |
| **Investment Income (Loss)** | | | |
| **Income:** | | | |
| Income distributions from underlying funds | $8340891 | $22725557 | $35758746 |
| Interest | 2452 | 5837 | 5792 |
|  | 8343343 | 22731394 | 35764538 |
| **Expenses:** |  |  |  |
| Distribution and service fees - R Class | 4009 | 4529 | 41222 |
| Directors' fees and expenses | 5419 | 16169 | 26856 |
|  | 9428 | 20698 | 68078 |
| **Net investment income (loss)** | 8333915 | 22710696 | 35696460 |
| **Realized and Unrealized Gain (Loss) on Affiliates** | **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |  |
| Sales of investments in underlying funds | 5177956 | 1661328 | 18207330 |
| Capital gain distributions received from underlying funds | 9773479 | 50210866 | 108131531 |
|  | 14951435 | 51872194 | 126338861 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (8212420) | (15165232) | (28933777) |
| **Net realized and unrealized gain (loss) on affiliates** | 6739015 | 36706962 | 97405084 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $15072930 | $59417658 | $133101544 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice<br>Portfolio:<br>Aggressive** | **One Choice<br>Portfolio:<br>Very Aggressive** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $17068178 | $6057168 |
| Interest | 3397 | 781 |
|  | 17071575 | 6057949 |
| **Expenses:** |  |  |
| Distribution and service fees - R Class | 11731 | 19880 |
| Directors' fees and expenses | 13255 | 5206 |
| Other expenses |  | 26 |
|  | 24986 | 25112 |
| **Net investment income (loss)** | 17046589 | 6032837 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 8065226 | 4597698 |
| Capital gain distributions received from underlying funds | 65196011 | 30101690 |
|  | 73261237 | 34699388 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (13415465) | (5210343) |
| **Net realized and unrealized gain (loss) on affiliates** | 59845772 | 29489045 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $76892361 | $35521882 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Portfolio:<br>Very Conservative** | **One Choice Portfolio:<br>Very Conservative** | **One Choice Portfolio:<br>Conservative** | **One Choice Portfolio:<br>Conservative** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $8333915 | $12704925 | $22710696 | $31903506 |
| Net realized gain (loss) | 14951435 | 4309726 | 51872194 | 28392847 |
| Change in net unrealized appreciation (depreciation) | (8212420) | 3712356 | (15165232) | 14559885 |
| Net increase (decrease) in net assets resulting from operations | 15072930 | 20727007 | 59417658 | 74856238 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (8362856) | (12583714) | (42019308) | (31609376) |
| &nbsp;&nbsp;&nbsp;R Class | (32214) | (44858) | (63477) | (46033) |
| Decrease in net assets from distributions | (8395070) | (12628572) | (42082785) | (31655409) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (14283355) | (29067446) | (11068720) | (76558474) |
| **Net increase (decrease) in net assets** | (7605495) | (20969011) | 6266153 | (33357645) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 368469372 | 389438383 | 1083054001 | 1116411646 |
| End of period | $360863877 | $368469372 | $1089320154 | $1083054001 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Portfolio: <br>Moderate** | **One Choice Portfolio: <br>Moderate** | **One Choice Portfolio:<br>Aggressive** | **One Choice Portfolio:<br>Aggressive** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $35696460 | $45727321 | $17046589 | $19741805 |
| Net realized gain (loss) | 126338861 | 65125395 | 73261237 | 48746708 |
| Change in net unrealized appreciation (depreciation) | (28933777) | 44848108 | (13415465) | 20532039 |
| Net increase (decrease) in net assets resulting from operations | 133101544 | 155700824 | 76892361 | 89020552 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;Investor Class | (100292825) | (45114050) | (71517810) | (21917223) |
| &nbsp;&nbsp;R Class | (850145) | (306872) | (324999) | (89071) |
| Decrease in net assets from distributions | (101142970) | (45420922) | (71842809) | (22006294) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 38687407 | (148017030) | 30833193 | (88962896) |
| **Net increase (decrease) in net assets** | 70645981 | (37737128) | 35882745 | (21948638) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1782588025 | 1820325153 | 879146661 | 901095299 |
| End of period | $1853234006 | $1782588025 | $915029406 | $879146661 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | |
|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice Portfolio:<br>Very Aggressive** | **One Choice Portfolio:<br>Very Aggressive** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | |
| Net investment income (loss) | $6032837 | $5475453 |
| Net realized gain (loss) | 34699388 | 22615104 |
| Change in net unrealized appreciation (depreciation) | (5210343) | 11263304 |
| Net increase (decrease) in net assets resulting from operations | 35521882 | 39353861 |
| **Distributions to Shareholders** |  |  |
| From earnings: |  |  |
| &nbsp;&nbsp;Investor Class | (26510062) | (6532985) |
| &nbsp;&nbsp;R Class | (544963) | (100730) |
| Decrease in net assets from distributions | (27055025) | (6633715) |
| **Capital Share Transactions** |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 12650115 | (43633193) |
| **Net increase (decrease) in net assets** | 21116972 | (10913047) |
| **Net Assets** |  |  |
| Beginning of period | 342308863 | 353221910 |
| End of period | $363425835 | $342308863 |

---

See Notes to Financial Statements.

------

Notes to Financial Statements

**JANUARY 31, 2026 (UNAUDITED)**

**1. Organization**

American Century Asset Allocation Portfolios, 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. Each fund operates as a fund of funds, meaning that it seeks to achieve its objective by investing in other American Century Investments mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. Additional information and attributes of each underlying fund are available at americancentury.com. The financial statements herein relate to the following funds and the respective share classes offered by the corporation.

---

| | |
|:---|:---|
| One Choice Portfolio: Very Conservative | Investor, R |
| One Choice Portfolio: Conservative | Investor, R |
| One Choice Portfolio: Moderate | Investor, R |
| One Choice Portfolio: Aggressive | Investor, R |
| One Choice Portfolio: Very Aggressive | Investor, R |

---

Each fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the funds serves as the chief operating decision maker (CODM). A fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the funds in preparation of their financial statements. Each 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 —** Each 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 a fund's investments 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. Open-end management investment companies are valued at their reported NAV per share. Exchange-traded funds are listed or traded on a domestic securities exchange and are valued at the last reported sales price or at the official closing price as provided by the exchange.

**Fair Value Measurements —** The investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by a fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

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

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

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

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

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

**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 —** Income and capital gain distributions, if any, from the underlying funds are recorded as of the ex-dividend date. Long-term capital gain distributions, if any, from the underlying funds are a component of net realized gain (loss). Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes paydown gain (loss) and accretion of discounts and amortization of premiums.

------

**Expenses —** The expenses included in the accompanying financial statements reflect the expenses of each fund and do not include any expenses associated with the underlying funds.

**Income Tax Status —** It is each 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. A fund files U.S. federal, state, local and non-U.S. tax returns as applicable. A 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 a 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 a fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions to shareholders are recorded on the ex-dividend date in a manner consistent with provisions of the 1940 Act. A 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). Distributions from net realized gains, if any, are generally declared and paid annually. Distributions from net investment income, if any, are generally declared and paid as follows:

---

| | |
|:---|:---|
| One Choice Portfolio: Very Conservative | Quarterly |
| One Choice Portfolio: Conservative | Quarterly |
| One Choice Portfolio: Moderate | Quarterly |
| One Choice Portfolio: Aggressive | Annually |
| One Choice Portfolio: Very Aggressive | 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 a fund. In addition, in the normal course of business, a fund may enter 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. ACIM serves as the investment advisor for the underlying funds.

**Administrative Fees —** The corporation's investment advisor, ACIM, does not receive an administrative fee for services provided to a fund.

**Distribution and Service Fees —** The Board of Directors has adopted a separate Master Distribution and Individual Shareholder Services Plan for the R Class (the plan), pursuant to Rule 12b-1 of the 1940 Act. The plan provides 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 the R 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 plan during the period ended January 31, 2026 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 funds. The directors receive detailed information about the funds and their investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The funds' officers do not receive compensation from the funds.

**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.

**Acquired Fund Fees and Expenses —** A fund will indirectly realize its pro rata share of the fees and expenses of the underlying funds in which it invests. These fees and expenses are already reflected in the valuation of the underlying funds.

**4. Investment Transactions**

Investment transactions for the period ended January 31, 2026 were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice<br>Portfolio:<br>Very Conservative** | **One Choice<br>Portfolio:<br>Conservative** | **One Choice <br>Portfolio: <br>Moderate** | **One Choice<br>Portfolio:<br>Aggressive** | **One Choice<br>Portfolio:<br>Very Aggressive** |
| Purchases | $49423173 | $140532835 | $263877701 | $150240721 | $56944576 |
| Sales | $53994204 | $120762778 | $182505273 | $109007737 | $35214959 |

---

------

**5. Capital Share Transactions** 

The corporation is authorized to issue 6,000,000,000 shares. Transactions in shares of the funds were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | | | |
| **Investor Class** | | | | |
| Sold | 1324899 | $15885475 | 2755265 | $31938900 |
| Issued in reinvestment of distributions | 689683 | 8189092 | 1064804 | 12325489 |
| Redeemed | (3199657) | (38341108) | (6297771) | (73115583) |
|  | (1185075) | (14266541) | (2477702) | (28851194) |
| **R Class** |  |  |  |  |
| Sold | 26939 | 321418 | 46571 | 542653 |
| Issued in reinvestment of distributions | 2709 | 32214 | 3870 | 44858 |
| Redeemed | (30892) | (370446) | (69047) | (803763) |
|  | (1244) | (16814) | (18606) | (216252) |
| Net increase (decrease) | (1186319) | $(14283355) | (2496308) | $(29067446) |
| **One Choice Portfolio: Conservative** |  |  |  |  |
| **Investor Class** |  |  |  |  |
| Sold | 2120780 | $29720261 | 4448945 | $59132132 |
| Issued in reinvestment of distributions | 2997184 | 41118119 | 2332865 | 30933305 |
| Redeemed | (5838831) | (81715102) | (12529645) | (166582820) |
|  | (720867) | (10876722) | (5747835) | (76517383) |
| **R Class** |  |  |  |  |
| Sold | 13300 | 185391 | 27639 | 368473 |
| Issued in reinvestment of distributions | 4629 | 63477 | 3469 | 45961 |
| Redeemed | (31580) | (440866) | (34417) | (455525) |
|  | (13651) | (191998) | (3309) | (41091) |
| Net increase (decrease) | (734518) | $(11068720) | (5751144) | $(76558474) |
| **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** |  |  |  |
| **Investor Class** |  |  |  |  |
| Sold | 3053248 | $50920726 | 6010640 | $93325016 |
| Issued in reinvestment of distributions | 6084237 | 98099300 | 2851570 | 44142985 |
| Redeemed | (6643107) | (110644488) | (18453266) | (286266291) |
|  | 2494378 | 38375538 | (9591056) | (148798290) |
| **R Class** |  |  |  |  |
| Sold | 79828 | 1324793 | 208991 | 3237299 |
| Issued in reinvestment of distributions | 52765 | 850145 | 19834 | 306872 |
| Redeemed | (110807) | (1863069) | (178965) | (2762911) |
|  | 21786 | 311869 | 49860 | 781260 |
| Net increase (decrease) | 2516164 | $38687407 | (9541196) | $(148017030) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
| **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | | | |
| **Investor Class** | | | | |
| Sold | 1389360 | $24837476 | 3285537 | $54340323 |
| Issued in reinvestment of distributions | 4117265 | 70075845 | 1324384 | 21481515 |
| Redeemed | (3565453) | (63861188) | (9936038) | (164506265) |
|  | 1941172 | 31052133 | (5326117) | (88684427) |
| **R Class** |  |  |  |  |
| Sold | 34525 | 618680 | 72098 | 1193862 |
| Issued in reinvestment of distributions | 19050 | 324999 | 5478 | 89071 |
| Redeemed | (63665) | (1162619) | (94463) | (1561402) |
|  | (10090) | (218940) | (16887) | (278469) |
| Net increase (decrease) | 1931082 | $30833193 | (5343004) | $(88962896) |
| **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** |  |  |  |
| **Investor Class** |  |  |  |  |
| Sold | 602300 | $13286413 | 1369198 | $26905390 |
| Issued in reinvestment of distributions | 1236174 | 25885485 | 326685 | 6363835 |
| Redeemed | (1210962) | (26582215) | (3860494) | (76331072) |
|  | 627512 | 12589683 | (2164611) | (43061847) |
| **R Class** |  |  |  |  |
| Sold | 49935 | 1095881 | 84867 | 1684205 |
| Issued in reinvestment of distributions | 25946 | 544872 | 5158 | 100729 |
| Redeemed | (70721) | (1580321) | (118908) | (2356280) |
|  | 5160 | 60432 | (28883) | (571346) |
| Net increase (decrease) | 632672 | $12650115 | (2193494) | $(43633193) |

---

**6. Risk Factors**

The overall risk profile of a fund will be impacted by the underlying funds' investment strategies, including the investment vehicles and techniques utilized to manage each portfolio. The net asset value of a fund will go up and down based on the performance of the underlying funds in which it invests. The value of the underlying funds' shares will, in turn, fluctuate based on the performance of the securities they own and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of a 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.

**7. Federal Tax Information**

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 components of investments for federal income tax purposes were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio:<br>Conservative** | **One Choice Portfolio: <br>Moderate** |
| Federal tax cost of investments | $351807933 | $989911791 | $1566925618 |
| Gross tax appreciation of investments | $19750310 | $130686086 | $340297803 |
| Gross tax depreciation of investments | (10694366) | (31277723) | (53989415) |
| Net tax appreciation (depreciation) of investments | $9055944 | $99408363 | $286308388 |

---

---

| | | |
|:---|:---|:---|
| | **One Choice Portfolio:<br>Aggressive** | **One Choice Portfolio:**<br>**Very Aggressive** |
| Federal tax cost of investments | $699097901 | $256443453 |
| Gross tax appreciation of investments | $221710677 | $106982382 |
| Gross tax depreciation of investments | (5779172) |  |
| Net tax appreciation (depreciation) of investments | $215931505 | $106982382 |

---

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

------

---

| | | |
|:---|:---|:---|
| As of July 31, 2025, the funds had accumulated capital losses which 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. Capital loss carryovers were as follows: | As of July 31, 2025, the funds had accumulated capital losses which 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. Capital loss carryovers were as follows: | As of July 31, 2025, the funds had accumulated capital losses which 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. Capital loss carryovers were as follows: |
|  | **Short-term capital losses** | **Long-term capital losses** |
| One Choice Portfolio: Very Conservative | $(1935884) | $(2171643) |

---

**8. Investments in Underlying Funds**

The funds do not invest in the underlying funds for the purpose of exercising management or control; however, investments by the funds within their investment strategies may represent a significant portion of the underlying funds' net assets. As of period end, One Choice Portfolio: Moderate owned 63% of the shares of Core Plus Fund.

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**9. Affiliated Fund Transactions**

A summary of transactions for each underlying fund for the period ended January 31, 2026 follows:

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** | **One Choice Portfolio: Very Conservative (Amounts in thousands)** |
| Diversified Bond Fund | $76886 | $2123 | $6840 | $1938 | $74107 | 7994 | $(755) | $1662 |
| High Income Fund | 3937 | 121 | 473 | 35 | 3620 | 412 | (4) | 121 |
| Inflation-Adjusted Bond Fund | 40730 | 718 | 10939 | 1069 | 31578 | 2973 | (805) | 674 |
| Short Duration Fund | 48249 | 1525 | 3144 | 400 | 47030 | 4760 | (157) | 1049 |
| Short Duration Inflation Protection Bond Fund | 47987 | 1792 | 2325 | (428) | 47026 | 4504 | 58 | 1307 |
| Focused Large Cap Value Fund | 22879 | 2421 | 2940 | (2331) | 20029 | 1849 | 2713 | 2104 |
| Growth Fund | 9271 | 4594 | 1145 | (1137) | 11583 | 207 | 42 | 1701 |
| Heritage Fund | 8535 | 1554 | 1282 | (1796) | 7011 | 338 | 177 | 1281 |
| Large Cap Equity Fund | 22350 | 4214 | 2518 | (3380) | 20666 | 428 | 1175 | 3896 |
| Mid Cap Value Fund | 12141 | 1032 | 3776 | (1266) | 8131 | 528 | 1106 | 991 |
| Select Fund | 2634 | 309 | 194 | (63) | 2686 | 21 | 53 | 247 |
| Small Cap Dividend Fund | 2501 | 235 | 1178 | 256 | 1814 | 170 | (132) | 34 |
| Small Cap Growth Fund | 2503 | 215 | 859 | (118) | 1741 | 80 | 171 | 127 |
| Emerging Markets Debt Fund | 7679 | 261 | 1159 | 432 | 7213 | 756 | (116) | 261 |
| Global Bond Fund | 52820 | 1979 | 3443 | 20 | 51376 | 5905 | (414) | 1768 |
| Global Real Estate Fund |  | 3740 | 108 | (4) | 3628 | 263 | (2) | 106 |
| International Growth Fund |  | 6563 | 354 | 24 | 6233 | 442 | 2 | 203 |
| International Value Fund |  | 6853 | 573 | 71 | 6351 | 552 | (9) | 493 |
| U.S. Government Money Market Fund |  | 9136 | 95 |  | 9041 | 9041 |  | 51 |
| Real Estate Fund | 7367 | 38 | 5471 | (1934) |  |  | 2075 | 38 |
|  | $368469 | $49423 | $48816 | $(8212) | $360864 | 41223 | $5178 | $18114 |

---

(1)Underlying fund investments represent Investor Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** | **One Choice Portfolio: Conservative (Amounts in thousands)** |
| Diversified Bond Fund | $208034 | $5191 | $7097 | $4127 | $210255 | 22681 | $(927) | $4642 |
| High Income Fund | 11672 | 10770 | 645 | 159 | 21956 | 2498 | (52) | 490 |
| Inflation-Adjusted Bond Fund | 93950 | 1915 | 6630 | 850 | 90085 | 8483 | (558) | 1915 |
| Short Duration Fund | 67506 | 1466 | 3790 | 530 | 65712 | 6651 | (188) | 1465 |
| Short Duration Inflation Protection Bond Fund | 56764 | 1520 | 2926 | (567) | 54791 | 5248 | 146 | 1519 |
| Focused Large Cap Value Fund | 75186 | 20134 | 4676 | 241 | 90885 | 8392 | (8) | 9410 |
| Growth Fund | 49874 | 21343 | 459 | (6856) | 63902 | 1141 | (1) | 9469 |
| Heritage Fund | 43062 | 6292 | 6567 | (8620) | 34167 | 1646 | 636 | 6292 |
| Large Cap Equity Fund | 94579 | 26022 | 2423 | (12239) | 105939 | 2194 | (231) | 19966 |
| Mid Cap Value Fund | 50005 | 4640 | 13019 | (3318) | 38308 | 2486 | 2324 | 4640 |
| Select Fund | 14662 | 1242 | 1854 | (521) | 13529 | 105 | 540 | 1241 |
| Small Cap Dividend Fund | 9732 | 147 | 2419 | 841 | 8301 | 777 | (272) | 147 |
| Small Cap Growth Fund | 10671 | 577 | 2755 | (535) | 7958 | 363 | 726 | 577 |
| Emerging Markets Debt Fund | 23786 | 793 | 4074 | 1381 | 21886 | 2294 | (393) | 793 |
| Global Bond Fund | 145001 | 4350 | 35501 | 3396 | 117246 | 13477 | (4115) | 4350 |
| Global Real Estate Fund | 21547 | 569 | 3993 | 1160 | 19283 | 1396 | (37) | 560 |
| International Growth Fund | 46955 | 4896 | 6793 | 766 | 45824 | 3250 | 1257 | 1493 |
| International Small-Mid Cap Fund | 12314 | 2592 | 2886 | 1555 | 13575 | 1081 | 282 | 245 |
| International Value Fund | 47754 | 6826 | 10562 | 2485 | 46503 | 4044 | 2532 | 3613 |
| U.S. Government Money Market Fund |  | 19248 | 33 |  | 19215 | 19215 |  | 109 |
|  | $1083054 | $140533 | $119102 | $(15165) | $1089320 | 107422 | $1661 | $72936 |

---

(1)Underlying fund investments represent Investor Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized <br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** | **One Choice Portfolio: Moderate (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $33394 | $2933 | $718 | $1040 | $36649 | 474 | $(8) | $2633 |
| Focused Large Cap Value Fund | 147762 | 44678 | 2519 | 119 | 190040 | 17548 | 75 | 19128 |
| Growth Fund | 95704 | 48675 | 382 | (14256) | 129741 | 2317 |  | 19162 |
| Heritage Fund | 102825 | 14645 | 15861 | (20982) | 80627 | 3884 | 2168 | 14645 |
| Large Cap Equity Fund | 221844 | 40336 | 16315 | (29249) | 216616 | 4486 | 6059 | 40336 |
| Mid Cap Value Fund | 99144 | 10014 | 19399 | (4567) | 85192 | 5528 | 2124 | 10014 |
| Select Fund | 14401 | 1249 | 1527 | (449) | 13674 | 106 | 481 | 1249 |
| Small Cap Growth Fund | 23765 | 1290 | 8546 | (1543) | 14966 | 683 | 2076 | 1289 |
| Small Cap Value Fund | 23840 | 2243 | 8737 | (1905) | 15441 | 1651 | 1113 | 2244 |
| Core Plus Fund | 269430 | 7492 | 18290 | 7373 | 266005 | 28603 | (3222) | 6315 |
| High Income Fund | 18945 | 17816 |  | 171 | 36932 | 4202 |  | 814 |
| Inflation-Adjusted Bond Fund | 108107 | 2131 | 11123 | 1435 | 100550 | 9468 | (1025) | 2130 |
| Short Duration Fund | 72154 | 1607 | 558 | 395 | 73598 | 7449 | (27) | 1607 |
| Short Duration Inflation Protection Bond Fund | 18845 | 507 | 823 | (182) | 18347 | 1757 | 44 | 507 |
| Emerging Markets Fund | 77658 | 10021 | 20474 | 12224 | 79429 | 4882 | 5762 | 845 |
| Global Real Estate Fund | 43697 | 1335 | 446 | 2284 | 46870 | 3394 | (4) | 1335 |
| International Growth Fund | 103513 | 15681 | 6023 | 3431 | 116602 | 8270 | 1006 | 3681 |
| International Small-Mid Cap Fund | 39955 | 740 | 2021 | 5821 | 44495 | 3543 | (69) | 740 |
| International Value Fund | 70306 | 17675 | 10990 | 5342 | 82333 | 7159 | 2245 | 6091 |
| Non-U.S. Intrinsic Value Fund | 42257 | 3775 | 8961 | 2455 | 39526 | 3623 | 732 | 3775 |
| Emerging Markets Debt Fund | 38269 | 1357 | 4498 | 2046 | 37174 | 3897 | (405) | 1357 |
| Global Bond Fund | 116773 | 3916 | 6087 | 63 | 114665 | 13180 | (918) | 3916 |
| U.S. Government Money Market Fund |  | 13762 |  |  | 13762 | 13762 |  | 77 |
|  | $1782588 | $263878 | $164298 | $(28934) | $1853234 | 149866 | $18207 | $143890 |

---

(1)Underlying fund investments represent Investor Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized <br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** | **One Choice Portfolio: Aggressive (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $40752 | $3069 | $1584 | $311 | $42548 | 550 | $1113 | $3069 |
| Focused Large Cap Value Fund | 97515 | 20574 | 1730 | 481 | 116840 | 10789 | (38) | 11879 |
| Growth Fund | 59026 | 16911 | 403 | (7028) | 68506 | 1223 | 220 | 10088 |
| Heritage Fund | 64004 | 9224 | 9134 | (13309) | 50785 | 2446 | 1487 | 9224 |
| Large Cap Equity Fund | 112375 | 30306 | 996 | (14767) | 126918 | 2628 | (4) | 23653 |
| Mid Cap Value Fund | 62770 | 6317 | 12632 | (2921) | 53534 | 3474 | 1379 | 6317 |
| Small Cap Growth Fund | 16267 | 953 | 4643 | (776) | 11801 | 539 | 1049 | 953 |
| Small Cap Value Fund | 15701 | 1646 | 4612 | (691) | 12044 | 1288 | 109 | 1646 |
| Emerging Markets Fund | 50255 | 8690 | 13153 | 8893 | 54685 | 3361 | 3457 | 599 |
| Global Real Estate Fund | 26038 | 2639 |  | 1356 | 30033 | 2175 |  | 856 |
| International Growth Fund | 60710 | 18470 | 5528 | 1908 | 75560 | 5359 | 752 | 2397 |
| International Small-Mid Cap Fund | 23799 | 5367 | 1577 | 3820 | 31409 | 2501 | (38) | 526 |
| International Value Fund | 31292 | 11818 | 2937 | 3018 | 43191 | 3756 | 512 | 3182 |
| Non-U.S. Intrinsic Value Fund | 32216 | 5156 | 5360 | 2103 | 34115 | 3127 | 249 | 3247 |
| Core Plus Fund | 72053 | 3956 | 247 | 1140 | 76902 | 8269 | (42) | 1733 |
| High Income Fund | 27364 | 828 | 8722 | 1015 | 20485 | 2330 | (805) | 828 |
| Inflation-Adjusted Bond Fund | 27224 | 478 | 5888 | 712 | 22526 | 2121 | (556) | 476 |
| Short Duration Fund | 9217 | 155 | 7033 | (63) | 2276 | 230 | 110 | 155 |
| Short Duration Inflation Protection Bond Fund | 9298 | 125 | 4625 | (277) | 4521 | 433 | 309 | 125 |
| Emerging Markets Debt Fund | 14300 | 476 | 4313 | 991 | 11454 | 1201 | (388) | 476 |
| Global Bond Fund | 26971 | 822 | 5827 | 669 | 22635 | 2602 | (810) | 822 |
| U.S. Government Money Market Fund |  | 2261 |  |  | 2261 | 2261 |  | 13 |
|  | $879147 | $150241 | $100944 | $(13415) | $915029 | 62663 | $8065 | $82264 |

---

(1)Underlying fund investments represent Investor Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net<br>Unrealized <br>Appreciation<br>(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** | **One Choice Portfolio: Very Aggressive (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $20635 | $2655 | $773 | $404 | $22921 | 296 | $218 | $1658 |
| Focused Large Cap Value Fund | 39794 | 9723 | 944 | 208 | 48781 | 4504 | (68) | 4981 |
| Growth Fund | 29456 | 9821 |  | (3644) | 35633 | 636 |  | 5268 |
| Heritage Fund | 30077 | 4341 | 4361 | (6406) | 23651 | 1139 | 896 | 4289 |
| Large Cap Equity Fund | 47325 | 13764 | 328 | (6356) | 54405 | 1127 | (51) | 10160 |
| Mid Cap Value Fund | 27778 | 3053 | 5069 | (1079) | 24683 | 1602 | 312 | 2925 |
| Small Cap Growth Fund | 9173 | 500 | 2797 | (456) | 6420 | 293 | 632 | 500 |
| Small Cap Value Fund | 9289 | 969 | 2241 | (455) | 7562 | 809 | 112 | 969 |
| Emerging Markets Fund | 29708 | 2561 | 5001 | 5624 | 32892 | 2022 | 1818 | 349 |
| Global Real Estate Fund | 13781 | 502 | 385 | 723 | 14621 | 1059 | (3) | 417 |
| International Growth Fund | 34606 | 1323 | 3333 | 1092 | 33688 | 2389 | 370 | 1062 |
| International Small-Mid Cap Fund | 17579 | 335 | 344 | 2541 | 20111 | 1601 | 28 | 335 |
| International Value Fund | 13810 | 3804 | 1088 | 1410 | 17936 | 1560 | 131 | 1326 |
| Non-U.S. Intrinsic Value Fund | 19298 | 3593 | 3953 | 1184 | 20122 | 1844 | 203 | 1920 |
|  | $342309 | $56944 | $30617 | $(5210) | $363426 | 20881 | $4598 | $36159 |

---

(1)Underlying fund investments represent Investor Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

Financial Highlights

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset Value, Beginning<br>of Period** | **Net**<br>**Investment Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized and Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses**<sup>(3)</sup> | **Net<br>Investment Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period (in thousands)** |
| **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | **One Choice Portfolio: Very Conservative** | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | |
| 2026<sup>(4)</sup> | $11.77 | 0.27 | 0.22 | 0.49 | (0.28) |  | (0.28) | $11.98 | 4.19% | 0.00% | 4.52% | 14% | $359283 |
| 2025 | $11.52 | 0.39 | 0.25 | 0.64 | (0.39) |  | (0.39) | $11.77 | 5.66% | 0.00% | 3.36% | 9% | $366902 |
| 2024 | $11.04 | 0.35 | 0.47 | 0.82 | (0.34) |  | (0.34) | $11.52 | 7.61% | 0.00% | 3.13% | 15% | $387690 |
| 2023 | $11.82 | 0.38 | (0.39) | (0.01) | (0.38) | (0.39) | (0.77) | $11.04 | 0.21% | 0.01% | 3.37% | 13% | $434210 |
| 2022 | $13.50 | 0.45 | (1.28) | (0.83) | (0.46) | (0.39) | (0.85) | $11.82 | (6.57)% | 0.00% | 3.52% | 9% | $496501 |
| 2021 | $12.54 | 0.20 | 1.20 | 1.40 | (0.19) | (0.25) | (0.44) | $13.50 | 11.39% | 0.00% | 1.55% | 18% | $524867 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |
| 2026<sup>(4)</sup> | $11.78 | 0.24 | 0.22 | 0.46 | (0.25) |  | (0.25) | $11.99 | 3.91% | 0.50% | 4.02% | 14% | $1581 |
| 2025 | $11.53 | 0.33 | 0.25 | 0.58 | (0.33) |  | (0.33) | $11.78 | 5.13% | 0.50% | 2.86% | 9% | $1567 |
| 2024 | $11.05 | 0.27 | 0.50 | 0.77 | (0.29) |  | (0.29) | $11.53 | 7.07% | 0.50% | 2.63% | 15% | $1749 |
| 2023 | $11.83 | 0.31 | (0.38) | (0.07) | (0.32) | (0.39) | (0.71) | $11.05 | (0.29)% | 0.51% | 2.87% | 13% | $2393 |
| 2022 | $13.50 | 0.37 | (1.26) | (0.89) | (0.39) | (0.39) | (0.78) | $11.83 | (6.96)% | 0.50% | 3.02% | 9% | $2138 |
| 2021 | $12.55 | 0.14 | 1.19 | 1.33 | (0.13) | (0.25) | (0.38) | $13.50 | 10.73% | 0.50% | 1.05% | 18% | $1663 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset Value, Beginning<br>of Period** | **Net**<br>**Investment Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized and Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses**<sup>(3)</sup> | **Net<br>Investment Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period (in thousands)** |
| **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | **One Choice Portfolio: Conservative** | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | |
| 2026<sup>(4)</sup> | $13.68 | 0.29 | 0.46 | 0.75 | (0.30) | (0.25) | (0.55) | $13.88 | 5.52% | 0.00% | 4.12% | 11% | $1087571 |
| 2025 | $13.14 | 0.39 | 0.54 | 0.93 | (0.39) |  | (0.39) | $13.68 | 7.19% | 0.00% | 2.92% | 9% | $1081145 |
| 2024 | $12.39 | 0.34 | 0.75 | 1.09 | (0.34) |  | (0.34) | $13.14 | 8.96% | 0.00% | 2.75% | 14% | $1114534 |
| 2023 | $13.15 | 0.33 | 0.02 | 0.35 | (0.35) | (0.76) | (1.11) | $12.39 | 3.33% | 0.00% | 2.72% | 12% | $1160448 |
| 2022 | $15.71 | 0.57 | (1.87) | (1.30) | (0.59) | (0.67) | (1.26) | $13.15 | (9.08)% | 0.00% | 3.94% | 10% | $1252961 |
| 2021 | $14.16 | 0.22 | 2.11 | 2.33 | (0.22) | (0.56) | (0.78) | $15.71 | 16.82% | 0.00% | 1.46% | 18% | $1452250 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |
| 2026<sup>(4)</sup> | $13.67 | 0.25 | 0.47 | 0.72 | (0.26) | (0.25) | (0.51) | $13.88 | 5.32% | 0.50% | 3.62% | 11% | $1749 |
| 2025 | $13.14 | 0.32 | 0.53 | 0.85 | (0.32) |  | (0.32) | $13.67 | 6.58% | 0.50% | 2.42% | 9% | $1909 |
| 2024 | $12.38 | 0.26 | 0.78 | 1.04 | (0.28) |  | (0.28) | $13.14 | 8.50% | 0.50% | 2.25% | 14% | $1878 |
| 2023 | $13.15 | 0.27 | 0.01 | 0.28 | (0.29) | (0.76) | (1.05) | $12.38 | 2.74% | 0.50% | 2.22% | 12% | $2097 |
| 2022 | $15.71 | 0.49 | (1.87) | (1.38) | (0.51) | (0.67) | (1.18) | $13.15 | (9.54)% | 0.50% | 3.44% | 10% | $1936 |
| 2021 | $14.15 | 0.14 | 2.12 | 2.26 | (0.14) | (0.56) | (0.70) | $15.71 | 16.30% | 0.50% | 0.96% | 18% | $1743 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset Value, Beginning<br>of Period** | **Net**<br>**Investment Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized and Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses**<sup>(3)</sup> | **Net<br>Investment Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period (in thousands)** |
| **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | **One Choice Portfolio: Moderate** | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | |
| 2026<sup>(4)</sup> | $16.20 | 0.33 | 0.88 | 1.21 | (0.32) | (0.62) | (0.94) | $16.47 | 7.61% | 0.00% | 3.88% | 10% | $1836582 |
| 2025 | $15.22 | 0.40 | 0.98 | 1.38 | (0.40) |  | (0.40) | $16.20 | 9.22% | 0.00% | 2.59% | 9% | $1766558 |
| 2024 | $14.08 | 0.34 | 1.14 | 1.48 | (0.34) |  | (0.34) | $15.22 | 10.71% | 0.00% | 2.43% | 11% | $1806021 |
| 2023 | $14.68 | 0.32 | 0.41 | 0.73 | (0.33) | (1.00) | (1.33) | $14.08 | 5.95% | 0.00% | 2.31% | 13% | $1816523 |
| 2022 | $18.13 | 0.69 | (2.49) | (1.80) | (0.72) | (0.93) | (1.65) | $14.68 | (11.03)% | 0.00% | 4.21% | 11% | $1839658 |
| 2021 | $16.01 | 0.20 | 3.36 | 3.56 | (0.20) | (1.24) | (1.44) | $18.13 | 23.09% | 0.00% | 1.18% | 30% | $2180041 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |
| 2026<sup>(4)</sup> | $16.20 | 0.28 | 0.87 | 1.15 | (0.27) | (0.62) | (0.89) | $16.46 | 7.27% | 0.50% | 3.38% | 10% | $16652 |
| 2025 | $15.22 | 0.32 | 0.98 | 1.30 | (0.32) |  | (0.32) | $16.20 | 8.68% | 0.50% | 2.09% | 9% | $16030 |
| 2024 | $14.08 | 0.22 | 1.19 | 1.41 | (0.27) |  | (0.27) | $15.22 | 10.16% | 0.50% | 1.93% | 11% | $14304 |
| 2023 | $14.68 | 0.25 | 0.41 | 0.66 | (0.26) | (1.00) | (1.26) | $14.08 | 5.42% | 0.50% | 1.81% | 13% | $4878 |
| 2022 | $18.13 | 0.60 | (2.48) | (1.88) | (0.64) | (0.93) | (1.57) | $14.68 | (11.48)% | 0.50% | 3.71% | 11% | $5086 |
| 2021 | $16.00 | 0.11 | 3.37 | 3.48 | (0.11) | (1.24) | (1.35) | $18.13 | 22.54% | 0.50% | 0.68% | 30% | $5053 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset Value, Beginning<br>of Period** | **Net**<br>**Investment Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized and Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses**<sup>(3)</sup> | **Net<br>Investment Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period (in thousands)** |
| **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | **One Choice Portfolio: Aggressive** | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | |
| 2026<sup>(4)</sup> | $17.46 | 0.34 | 1.18 | 1.52 | (0.45) | (1.03) | (1.48) | $17.50 | 8.91% | 0.00% | 3.76% | 12% | $910478 |
| 2025 | $16.18 | 0.37 | 1.33 | 1.70 | (0.38) | (0.04) | (0.42) | $17.46 | 10.70% | 0.00% | 2.26% | 11% | $874442 |
| 2024 | $14.74 | 0.31 | 1.44 | 1.75 | (0.31) |  | (0.31) | $16.18 | 12.11% | 0.00% | 2.10% | 8% | $896463 |
| 2023 | $15.20 | 0.28 | 0.80 | 1.08 | (0.30) | (1.24) | (1.54) | $14.74 | 8.42% | 0.01% | 1.96% | 14% | $906625 |
| 2022 | $19.05 | 0.77 | (2.79) | (2.02) | (0.76) | (1.07) | (1.83) | $15.20 | (11.96)% | 0.00% | 4.47% | 11% | $906402 |
| 2021 | $16.24 | 0.19 | 4.23 | 4.42 | (0.17) | (1.44) | (1.61) | $19.05 | 28.36% | 0.00% | 1.07% | 21% | $1078655 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |
| 2026<sup>(4)</sup> | $17.44 | 0.28 | 1.20 | 1.48 | (0.36) | (1.03) | (1.39) | $17.53 | 8.66% | 0.50% | 3.26% | 12% | $4551 |
| 2025 | $16.16 | 0.29 | 1.33 | 1.62 | (0.30) | (0.04) | (0.34) | $17.44 | 10.16% | 0.50% | 1.76% | 11% | $4705 |
| 2024 | $14.73 | 0.22 | 1.45 | 1.67 | (0.24) |  | (0.24) | $16.16 | 11.49% | 0.50% | 1.60% | 8% | $4632 |
| 2023 | $15.18 | 0.21 | 0.80 | 1.01 | (0.22) | (1.24) | (1.46) | $14.73 | 7.92% | 0.51% | 1.46% | 14% | $5547 |
| 2022 | $19.03 | 0.68 | (2.80) | (2.12) | (0.66) | (1.07) | (1.73) | $15.18 | (12.44)% | 0.50% | 3.97% | 11% | $4537 |
| 2021 | $16.21 | 0.10 | 4.23 | 4.33 | (0.07) | (1.44) | (1.51) | $19.03 | 27.80% | 0.50% | 0.57% | 21% | $4775 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset Value, Beginning<br>of Period** | **Net**<br>**Investment Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized and Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Net<br>Investment<br>Income** | **Net<br>Realized<br>Gains** | **Total<br>Distributions** | **Net Asset<br>Value, <br>End<br>of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating**<br>**Expenses**<sup>(3)</sup> | **Net<br>Investment Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period (in thousands)** |
| **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | **One Choice Portfolio: Very Aggressive** | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | |
| 2026<sup>(4)</sup> | $21.21 | 0.38 | 1.80 | 2.18 | (0.40) | (1.32) | (1.72) | $21.67 | 10.59% | 0.00% | 3.39% | 10% | $355386 |
| 2025 | $19.27 | 0.32 | 2.01 | 2.33 | (0.35) | (0.04) | (0.39) | $21.21 | 12.24% | 0.00% | 1.61% | 11% | $334570 |
| 2024 | $17.23 | 0.26 | 2.06 | 2.32 | (0.28) |  | (0.28) | $19.27 | 13.63% | 0.00% | 1.49% | 8% | $345635 |
| 2023 | $17.53 | 0.19 | 1.40 | 1.59 | (0.20) | (1.69) | (1.89) | $17.23 | 10.86% | 0.01% | 1.17% | 14% | $336502 |
| 2022 | $22.45 | 0.90 | (3.75) | (2.85) | (0.88) | (1.19) | (2.07) | $17.53 | (14.22)% | 0.00% | 4.48% | 11% | $331761 |
| 2021 | $18.07 | 0.14 | 5.90 | 6.04 | (0.13) | (1.53) | (1.66) | $22.45 | 34.63% | 0.00% | 0.67% | 15% | $396903 |
| **R Class** | **R Class** | **R Class** | **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |
| 2026<sup>(4)</sup> | $21.20 | 0.31 | 1.81 | 2.12 | (0.29) | (1.32) | (1.61) | $21.71 | 10.27% | 0.50% | 2.89% | 10% | $8040 |
| 2025 | $19.26 | 0.22 | 2.01 | 2.23 | (0.25) | (0.04) | (0.29) | $21.20 | 11.68% | 0.50% | 1.11% | 11% | $7739 |
| 2024 | $17.22 | 0.14 | 2.09 | 2.23 | (0.19) |  | (0.19) | $19.26 | 13.08% | 0.50% | 0.99% | 8% | $7587 |
| 2023 | $17.51 | 0.10 | 1.42 | 1.52 | (0.12) | (1.69) | (1.81) | $17.22 | 10.33% | 0.51% | 0.67% | 14% | $6446 |
| 2022 | $22.42 | 0.80 | (3.76) | (2.96) | (0.76) | (1.19) | (1.95) | $17.51 | (14.65)% | 0.50% | 3.98% | 11% | $4833 |
| 2021 | $18.05 | 0.03 | 5.89 | 5.92 | (0.02) | (1.53) | (1.55) | $22.42 | 33.90% | 0.50% | 0.17% | 15% | $5032 |

---

------

**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. Total returns for periods less than one year are not annualized.

(3)Ratio of operating expenses to average net assets does not include any fees and expenses of the underlying funds.

(4)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>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.* | *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.* |
| **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-91634 2603** | **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-91634 2603** |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;

![ACI_Horiz_RGB_Black.jpg](ck0001293210-20260131_g1.jpg)

---

| | |
|:---|:---|
| Semiannual Financial Statements and Other Information | Semiannual Financial Statements and Other Information |
| January 31, 2026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> In Retirement Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2050 Portfolio  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARTOX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARFVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ATTIX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARFSX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARTAX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARFMX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ATTCX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARFDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARSRX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARFWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARDTX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARFEX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2030 Portfolio  | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2055 Portfolio  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARCVX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AREVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARCSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARENX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARCMX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AREMX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARWOX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (AREFX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARCRX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (AREOX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARCUX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (AREUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2035 Portfolio  | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2060 Portfolio  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARYIX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARGVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARLIX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARGNX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARYAX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARGMX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARLCX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARGHX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARYRX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARGRX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARLDX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARGDX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2040 Portfolio  | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2065 Portfolio  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARDVX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARHVX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARDSX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARHUX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARDMX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARHMX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARNOX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARHEX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARDRX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARHFX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARDUX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARHSX) |
| &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2045 Portfolio  | &nbsp;&nbsp;&nbsp;&nbsp;One Choice<sup>®</sup> 2070 Portfolio  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (AROIX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ARADX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (AOOIX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I Class (ARAEX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (AROAX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Class (ARAJX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (AROCX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C Class (ARAKX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARORX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R Class (ARAPX) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARDOX) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R6 Class (ARARX) |

---

***Investors should carefully consider a fund's investment objectives, risks, charges and expenses. For this and additional information about a fund, including the Annual Shareholder Report, Semiannual Shareholder Report, Prospectus and Statement of Additional Information, visit americancentury.com/docs.***

------

**Table of Contents**

---

| | |
|:---|:---|
| Schedules of Investments | [2](#ib5c2e8e119fc468b91ca49135daafe23_163) |
| Statements of Assets and Liabilities | [12](#ib5c2e8e119fc468b91ca49135daafe23_166) |
| Statements of Operations | [17](#ib5c2e8e119fc468b91ca49135daafe23_169) |
| Statements of Changes in Net Assets | [22](#ib5c2e8e119fc468b91ca49135daafe23_172) |
| Notes to Financial Statements | [27](#ib5c2e8e119fc468b91ca49135daafe23_175) |
| Financial Highlights | [52](#ib5c2e8e119fc468b91ca49135daafe23_181) |
| Approval of Management Agreements | [71](#ib5c2e8e119fc468b91ca49135daafe23_190) |

---

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice In Retirement Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 39.2%** |  |  |
| Diversified Bond Fund G Class | 46197455 | $428250403 |
| High Income Fund G Class | 9727848 | 85507784 |
| Inflation-Adjusted Bond Fund G Class | 7021063 | 74493474 |
| Short Duration Fund G Class | 19022785 | 187754886 |
| Short Duration Inflation Protection Bond Fund G Class | 16644435 | 175598791 |
|  |  | 951605338 |
| **Domestic Equity Funds — 30.7%** |  |  |
| Focused Large Cap Value Fund G Class | 20029939 | 217525139 |
| Growth Fund G Class | 1594577 | 96041394 |
| Heritage Fund G Class | 1520582 | 40173766 |
| Large Cap Equity Fund G Class | 4304461 | 209067671 |
| Mid Cap Value Fund G Class | 4729108 | 73112012 |
| Select Fund G Class | 469908 | 64898963 |
| Small Cap Dividend Fund G Class | 2180218 | 23306528 |
| Small Cap Growth Fund G Class | 895075 | 22421639 |
|  |  | 746547112 |
| **International Equity Funds — 14.1%** |  |  |
| Global Real Estate Fund G Class | 1799814 | 24855426 |
| International Growth Fund G Class | 10036235 | 142012730 |
| International Small-Mid Cap Fund G Class | 1268899 | 16343414 |
| International Value Fund G Class | 13908769 | 159672671 |
|  |  | 342884241 |
| **International Fixed Income Funds — 13.2%** |  |  |
| Emerging Markets Debt Fund G Class | 2832921 | 27054397 |
| Global Bond Fund G Class | 33609481 | 294082957 |
|  |  | 321137354 |
| **Money Market Funds — 2.8%** |  |  |
| U.S. Government Money Market Fund G Class | 67233973 | 67233973 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $2,034,534,756) |  | **2429408018** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**2429408018** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2030 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Fixed Income Funds — 35.7%** |  |  |
| Diversified Bond Fund G Class | 22792417 | $211285705 |
| High Income Fund G Class | 5317859 | 46743984 |
| Inflation-Adjusted Bond Fund G Class | 4528934 | 48051990 |
| Short Duration Fund G Class | 6559914 | 64746349 |
| Short Duration Inflation Protection Bond Fund G Class | 5484273 | 57859078 |
|  |  | 428687106 |
| **Domestic Equity Funds — 33.0%** |  |  |
| Focused Large Cap Value Fund G Class | 10114784 | 109846549 |
| Growth Fund G Class | 888596 | 53520139 |
| Heritage Fund G Class | 863626 | 22817004 |
| Large Cap Equity Fund G Class | 2234174 | 108513818 |
| Mid Cap Value Fund G Class | 2587558 | 40003650 |
| Select Fund G Class | 260019 | 35911156 |
| Small Cap Dividend Fund G Class | 1194510 | 12769316 |
| Small Cap Growth Fund G Class | 487199 | 12204334 |
|  |  | 395585966 |
| **International Equity Funds — 15.9%** |  |  |
| Emerging Markets Fund G Class | 415063 | 6973062 |
| Global Real Estate Fund G Class | 1029926 | 14223281 |
| International Growth Fund G Class | 5267864 | 74540269 |
| International Small-Mid Cap Fund G Class | 1008408 | 12988294 |
| International Value Fund G Class | 6398567 | 73455552 |
| Non-U.S. Intrinsic Value Fund G Class | 836025 | 9179559 |
|  |  | 191360017 |
| **International Fixed Income Funds — 12.8%** |  |  |
| Emerging Markets Debt Fund G Class | 2010179 | 19197206 |
| Global Bond Fund G Class | 15361236 | 134410814 |
|  |  | 153608020 |
| **Money Market Funds — 2.6%** |  |  |
| U.S. Government Money Market Fund G Class | 30799894 | 30799894 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $1,009,246,273) |  | **1200041003** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1200041003** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2035 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 35.6%** |  |  |
| Focused Dynamic Growth Fund G Class | 93950 | $7932160 |
| Focused Large Cap Value Fund G Class | 13263225 | 144038623 |
| Growth Fund G Class | 1259077 | 75834232 |
| Heritage Fund G Class | 1390352 | 36733101 |
| Large Cap Equity Fund G Class | 2894686 | 140594875 |
| Mid Cap Value Fund G Class | 3784877 | 58514200 |
| Select Fund G Class | 309827 | 42790170 |
| Small Cap Dividend Fund G Class | 1852132 | 19799288 |
| Small Cap Growth Fund G Class | 754473 | 18899557 |
|  |  | 545136206 |
| **Domestic Fixed Income Funds — 31.8%** |  |  |
| Diversified Bond Fund G Class | 28825709 | 267214321 |
| High Income Fund G Class | 7294053 | 64114722 |
| Inflation-Adjusted Bond Fund G Class | 6401422 | 67919083 |
| Short Duration Fund G Class | 4824155 | 47614408 |
| Short Duration Inflation Protection Bond Fund G Class | 3783389 | 39914756 |
|  |  | 486777290 |
| **International Equity Funds — 18.5%** |  |  |
| Emerging Markets Fund G Class | 1447968 | 24325857 |
| Global Real Estate Fund G Class | 1574730 | 21747027 |
| International Growth Fund G Class | 7086814 | 100278415 |
| International Small-Mid Cap Fund G Class | 1923336 | 24772562 |
| International Value Fund G Class | 7641328 | 87722447 |
| Non-U.S. Intrinsic Value Fund G Class | 2152881 | 23638637 |
|  |  | 282484945 |
| **International Fixed Income Funds — 12.2%** |  |  |
| Emerging Markets Debt Fund G Class | 3324752 | 31751385 |
| Global Bond Fund G Class | 17628961 | 154253405 |
|  |  | 186004790 |
| **Money Market Funds — 1.9%** |  |  |
| U.S. Government Money Market Fund G Class | 29542993 | 29542993 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $1,260,766,256) |  | **1529946224** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **12** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1529946236** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2040 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 39.0%** |  |  |
| Focused Dynamic Growth Fund G Class | 171508 | $14480384 |
| Focused Large Cap Value Fund G Class | 10184820 | 110607149 |
| Growth Fund G Class | 1031971 | 62155602 |
| Heritage Fund G Class | 1294264 | 34194454 |
| Large Cap Equity Fund G Class | 2247265 | 109149653 |
| Mid Cap Value Fund G Class | 3159806 | 48850606 |
| Select Fund G Class | 195693 | 27027179 |
| Small Cap Growth Fund G Class | 631466 | 15818220 |
| Small Cap Value Fund G Class | 1739022 | 16590271 |
|  |  | 438873518 |
| **Domestic Fixed Income Funds — 27.8%** |  |  |
| Diversified Bond Fund G Class | 20574253 | 190723322 |
| High Income Fund G Class | 5468405 | 48067281 |
| Inflation-Adjusted Bond Fund G Class | 4228901 | 44868636 |
| Short Duration Fund G Class | 1657582 | 16360337 |
| Short Duration Inflation Protection Bond Fund G Class | 1279789 | 13501776 |
|  |  | 313521352 |
| **International Equity Funds — 21.0%** |  |  |
| Emerging Markets Fund G Class | 1912516 | 32130266 |
| Global Real Estate Fund G Class | 1369070 | 18906851 |
| International Growth Fund G Class | 5459569 | 77252897 |
| International Small-Mid Cap Fund G Class | 1853069 | 23867527 |
| International Value Fund G Class | 5151987 | 59144813 |
| Non-U.S. Intrinsic Value Fund G Class | 2324460 | 25522573 |
|  |  | 236824927 |
| **International Fixed Income Funds — 10.9%** |  |  |
| Emerging Markets Debt Fund G Class | 2787379 | 26619467 |
| Global Bond Fund G Class | 10944086 | 95760751 |
|  |  | 122380218 |
| **Money Market Funds — 1.3%** |  |  |
| U.S. Government Money Market Fund G Class | 14512912 | 14512912 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $920,460,166) |  | **1126112927** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1126112927** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2045 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 42.3%** |  |  |
| Focused Dynamic Growth Fund G Class | 317414 | $26799227 |
| Focused Large Cap Value Fund G Class | 11864557 | 128849090 |
| Growth Fund G Class | 1222595 | 73636923 |
| Heritage Fund G Class | 1786786 | 47206882 |
| Large Cap Equity Fund G Class | 2698672 | 131074514 |
| Mid Cap Value Fund G Class | 3888436 | 60115226 |
| Select Fund G Class | 166531 | 22999567 |
| Small Cap Growth Fund G Class | 763513 | 19125989 |
| Small Cap Value Fund G Class | 2102605 | 20058854 |
|  |  | 529866272 |
| **International Equity Funds — 24.1%** |  |  |
| Emerging Markets Fund G Class | 3434779 | 57704290 |
| Global Real Estate Fund G Class | 1802446 | 24891780 |
| International Growth Fund G Class | 6229658 | 88149656 |
| International Small-Mid Cap Fund G Class | 2578540 | 33211593 |
| International Value Fund G Class | 5273757 | 60542726 |
| Non-U.S. Intrinsic Value Fund G Class | 3362764 | 36923154 |
|  |  | 301423199 |
| **Domestic Fixed Income Funds — 23.9%** |  |  |
| Diversified Bond Fund G Class | 21736128 | 201493907 |
| High Income Fund G Class | 5836388 | 51301846 |
| Inflation-Adjusted Bond Fund G Class | 3943906 | 41844839 |
| Short Duration Fund G Class | 252118 | 2488407 |
| Short Duration Inflation Protection Bond Fund G Class | 200102 | 2111078 |
|  |  | 299240077 |
| **International Fixed Income Funds — 8.9%** |  |  |
| Emerging Markets Debt Fund G Class | 3208995 | 30645902 |
| Global Bond Fund G Class | 9263655 | 81056979 |
|  |  | 111702881 |
| **Money Market Funds — 0.8%** |  |  |
| U.S. Government Money Market Fund G Class | 9312621 | 9312621 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $987,539,925) |  | **1251545050** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1251545050** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2050 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 46.2%** |  |  |
| Focused Dynamic Growth Fund G Class | 360893 | $30470160 |
| Focused Large Cap Value Fund G Class | 9923500 | 107769210 |
| Growth Fund G Class | 1041152 | 62708601 |
| Heritage Fund G Class | 1546457 | 40857382 |
| Large Cap Equity Fund G Class | 2273147 | 110406771 |
| Mid Cap Value Fund G Class | 3261742 | 50426531 |
| Select Fund G Class | 81758 | 11291544 |
| Small Cap Growth Fund G Class | 629988 | 15781195 |
| Small Cap Value Fund G Class | 1734913 | 16551071 |
|  |  | 446262465 |
| **International Equity Funds — 26.3%** |  |  |
| Emerging Markets Fund G Class | 3057404 | 51364387 |
| Global Real Estate Fund G Class | 1533530 | 21178048 |
| International Growth Fund G Class | 5164799 | 73081900 |
| International Small-Mid Cap Fund G Class | 2183118 | 28118556 |
| International Value Fund G Class | 4022606 | 46179513 |
| Non-U.S. Intrinsic Value Fund G Class | 3097002 | 34005077 |
|  |  | 253927481 |
| **Domestic Fixed Income Funds — 19.8%** |  |  |
| Diversified Bond Fund G Class | 14185671 | 131501172 |
| High Income Fund G Class | 3770571 | 33143319 |
| Inflation-Adjusted Bond Fund G Class | 2483868 | 26353839 |
|  |  | 190998330 |
| **International Fixed Income Funds — 7.2%** |  |  |
| Emerging Markets Debt Fund G Class | 2088957 | 19949544 |
| Global Bond Fund G Class | 5688788 | 49776899 |
|  |  | 69726443 |
| **Money Market Funds — 0.5%** |  |  |
| U.S. Government Money Market Fund G Class | 5256645 | 5256645 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $761,786,590) |  | **966171364** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**966171364** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2055 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 50.2%** |  |  |
| Focused Dynamic Growth Fund G Class | 372877 | $31482042 |
| Focused Large Cap Value Fund G Class | 8110350 | 88078399 |
| Growth Fund G Class | 858968 | 51735660 |
| Heritage Fund G Class | 1263814 | 33389961 |
| Large Cap Equity Fund G Class | 1862152 | 90444699 |
| Mid Cap Value Fund G Class | 2664350 | 41190854 |
| Select Fund G Class | 19011 | 2625640 |
| Small Cap Growth Fund G Class | 513562 | 12864720 |
| Small Cap Value Fund G Class | 1414329 | 13492698 |
|  |  | 365304673 |
| **International Equity Funds — 28.6%** |  |  |
| Emerging Markets Fund G Class | 2517685 | 42297106 |
| Global Real Estate Fund G Class | 1250510 | 17269547 |
| International Growth Fund G Class | 4219771 | 59709762 |
| International Small-Mid Cap Fund G Class | 1786338 | 23008038 |
| International Value Fund G Class | 3106578 | 35663516 |
| Non-U.S. Intrinsic Value Fund G Class | 2745579 | 30146452 |
|  |  | 208094421 |
| **Domestic Fixed Income Funds — 15.2%** |  |  |
| Diversified Bond Fund G Class | 8223599 | 76232764 |
| High Income Fund G Class | 2177452 | 19139802 |
| Inflation-Adjusted Bond Fund G Class | 1438537 | 15262880 |
|  |  | 110635446 |
| **International Fixed Income Funds — 5.6%** |  |  |
| Emerging Markets Debt Fund G Class | 1205142 | 11509110 |
| Global Bond Fund G Class | 3295621 | 28836682 |
|  |  | 40345792 |
| **Money Market Funds — 0.4%** |  |  |
| U.S. Government Money Market Fund G Class | 3072366 | 3072366 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $573,947,845) |  | **727452698** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**727452698** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2060 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 52.5%** |  |  |
| Focused Dynamic Growth Fund G Class | 249963 | $21104358 |
| Focused Large Cap Value Fund G Class | 4999992 | 54299913 |
| Growth Fund G Class | 531923 | 32037725 |
| Heritage Fund G Class | 781730 | 20653313 |
| Large Cap Equity Fund G Class | 1155087 | 56102587 |
| Mid Cap Value Fund G Class | 1651914 | 25538595 |
| Small Cap Growth Fund G Class | 319617 | 8006401 |
| Small Cap Value Fund G Class | 878554 | 8381410 |
|  |  | 226124302 |
| **International Equity Funds — 29.5%** |  |  |
| Emerging Markets Fund G Class | 1519185 | 25522313 |
| Global Real Estate Fund G Class | 772601 | 10669626 |
| International Growth Fund G Class | 2619343 | 37063702 |
| International Small-Mid Cap Fund G Class | 1086483 | 13993905 |
| International Value Fund G Class | 1825141 | 20952623 |
| Non-U.S. Intrinsic Value Fund G Class | 1711762 | 18795142 |
|  |  | 126997311 |
| **Domestic Fixed Income Funds — 12.9%** |  |  |
| Diversified Bond Fund G Class | 4146426 | 38437370 |
| High Income Fund G Class | 1094844 | 9623677 |
| Inflation-Adjusted Bond Fund G Class | 722073 | 7661199 |
|  |  | 55722246 |
| **International Fixed Income Funds — 4.7%** |  |  |
| Emerging Markets Debt Fund G Class | 605254 | 5780172 |
| Global Bond Fund G Class | 1652494 | 14459319 |
|  |  | 20239491 |
| **Money Market Funds — 0.4%** |  |  |
| U.S. Government Money Market Fund G Class | 1527464 | 1527464 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $346,764,372) |  | **430610814** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(2)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**430610812** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2065 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 53.9%** |  |  |
| Focused Dynamic Growth Fund G Class | 86057 | $7265776 |
| Focused Large Cap Value Fund G Class | 1728833 | 18775122 |
| Growth Fund G Class | 183251 | 11037185 |
| Heritage Fund G Class | 269269 | 7114095 |
| Large Cap Equity Fund G Class | 397799 | 19321103 |
| Mid Cap Value Fund G Class | 567969 | 8780799 |
| Small Cap Growth Fund G Class | 108545 | 2719064 |
| Small Cap Value Fund G Class | 298922 | 2851718 |
|  |  | 77864862 |
| **International Equity Funds — 30.7%** |  |  |
| Emerging Markets Fund G Class | 542681 | 9117044 |
| Global Real Estate Fund G Class | 264515 | 3652951 |
| International Growth Fund G Class | 901404 | 12754866 |
| International Small-Mid Cap Fund G Class | 379071 | 4882436 |
| International Value Fund G Class | 626922 | 7197060 |
| Non-U.S. Intrinsic Value Fund G Class | 617204 | 6776903 |
|  |  | 44381260 |
| **Domestic Fixed Income Funds — 11.1%** |  |  |
| Diversified Bond Fund G Class | 1191521 | 11045397 |
| High Income Fund G Class | 316979 | 2786242 |
| Inflation-Adjusted Bond Fund G Class | 209256 | 2220204 |
|  |  | 16051843 |
| **International Fixed Income Funds — 4.0%** |  |  |
| Emerging Markets Debt Fund G Class | 175271 | 1673836 |
| Global Bond Fund G Class | 475646 | 4161907 |
|  |  | 5835743 |
| **Money Market Funds — 0.3%** |  |  |
| U.S. Government Money Market Fund G Class | 442146 | 442146 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $126,613,598) |  | **144575854** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **—** |
| **TOTAL NET ASSETS — 100.0%** |  | $**144575854** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Schedule of Investments

**JANUARY 31, 2026 (UNAUDITED)**

**One Choice 2070 Portfolio**

---

| | | |
|:---|:---|:---|
| <br>**UNDERLYING FUNDS**<sup>(1)</sup> **— 100.0%** | **Shares**<br> | **Value**<br> |
| **Domestic Equity Funds — 54.5%** |  |  |
| Focused Dynamic Growth Fund G Class | 456 | $38541 |
| Focused Large Cap Value Fund G Class | 8997 | 97709 |
| Growth Fund G Class | 964 | 58073 |
| Heritage Fund G Class | 1429 | 37767 |
| Large Cap Equity Fund G Class | 2084 | 101203 |
| Mid Cap Value Fund G Class | 2969 | 45904 |
| Small Cap Growth Fund G Class | 586 | 14684 |
| Small Cap Value Fund G Class | 1566 | 14938 |
|  |  | 408819 |
| **International Equity Funds — 30.4%** |  |  |
| Emerging Markets Fund G Class | 2733 | 45907 |
| Global Real Estate Fund G Class | 1390 | 19196 |
| International Growth Fund G Class | 4737 | 67022 |
| International Small-Mid Cap Fund G Class | 1944 | 25044 |
| International Value Fund G Class | 3196 | 36689 |
| Non-U.S. Intrinsic Value Fund G Class | 3149 | 34581 |
|  |  | 228439 |
| **Domestic Fixed Income Funds — 10.8%** |  |  |
| Diversified Bond Fund G Class | 5987 | 55499 |
| High Income Fund G Class | 1612 | 14171 |
| Inflation-Adjusted Bond Fund G Class | 1065 | 11297 |
|  |  | 80967 |
| **International Fixed Income Funds — 4.0%** |  |  |
| Emerging Markets Debt Fund G Class | 891 | 8510 |
| Global Bond Fund G Class | 2429 | 21256 |
|  |  | 29766 |
| **Money Market Funds — 0.3%** |  |  |
| U.S. Government Money Market Fund G Class | 2261 | 2261 |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $757,072) |  | **750252** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(7)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**750245** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice <br>In Retirement Portfolio** | **One Choice<br>2030 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $2429408018 | $1200041003 |
| Receivable for investments sold | 3136567 | 1522748 |
| Receivable for capital shares sold | 1149533 | 575199 |
| Distributions receivable from underlying funds | 3311153 | 1544091 |
|  | 2437005271 | 1203683041 |
| **Liabilities** |  |  |
| Payable for investments purchased | 3311153 | 1544091 |
| Payable for capital shares redeemed | 2674885 | 1247497 |
| Accrued management fees | 1399680 | 696775 |
| Distribution and service fees payable | 211535 | 153675 |
|  | 7597253 | 3642038 |
| **Net Assets** | $2429408018 | $1200041003 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $1984721228 | $983742988 |
| Distributable earnings (loss) | 444686790 | 216298015 |
|  | $2429408018 | $1200041003 |
| Investment securities - affiliated, at cost | $2034534756 | $1009246273 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** |
| Investor Class, $0.01 Par Value | $1266813995 | 99429649 | $12.74 |
| I Class, $0.01 Par Value | $93720914 | 7354988 | $12.74 |
| A Class, $0.01 Par Value | $387922966 | 30439851 | $12.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $13.52 |
| C Class, $0.01 Par Value | $2341625 | 186307 | $12.57 |
| R Class, $0.01 Par Value | $298921478 | 23540491 | $12.70 |
| R6 Class, $0.01 Par Value | $379687040 | 40987452 | $9.26 |
| **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** |
| Investor Class, $0.01 Par Value | $381408522 | 30679332 | $12.43 |
| I Class, $0.01 Par Value | $63228469 | 5090726 | $12.42 |
| A Class, $0.01 Par Value | $194755476 | 15696673 | $12.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $13.17 |
| C Class, $0.01 Par Value | $1339932 | 107587 | $12.45 |
| R Class, $0.01 Par Value | $262515560 | 21139509 | $12.42 |
| R6 Class, $0.01 Par Value | $296793044 | 27572095 | $10.76 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2035 Portfolio** | **One Choice<br>2040 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $1529946224 | $1126112927 |
| Receivable for investments sold | 1369834 | 1295584 |
| Receivable for capital shares sold | 730463 | 707830 |
| Distributions receivable from underlying funds | 1805580 | 1214052 |
|  | 1533852101 | 1129330393 |
| **Liabilities** |  |  |
| Payable for investments purchased | 1805580 | 1214052 |
| Payable for capital shares redeemed | 969088 | 1128931 |
| Accrued management fees | 945197 | 708520 |
| Distribution and service fees payable | 186000 | 165963 |
|  | 3905865 | 3217466 |
| **Net Assets** | $1529946236 | $1126112927 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $1214501685 | $890029996 |
| Distributable earnings (loss) | 315444551 | 236082931 |
|  | $1529946236 | $1126112927 |
| Investment securities - affiliated, at cost | $1260766256 | $920460166 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice 2035 Portfolio** | | | |
| Investor Class, $0.01 Par Value | $598201525 | 36539319 | $16.37 |
| I Class, $0.01 Par Value | $56754571 | 3462741 | $16.39 |
| A Class, $0.01 Par Value | $238907227 | 14589267 | $16.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $17.38 |
| C Class, $0.01 Par Value | $885695 | 54135 | $16.36 |
| R Class, $0.01 Par Value | $317497783 | 19384469 | $16.38 |
| R6 Class, $0.01 Par Value | $317699435 | 33696858 | $9.43 |
| **One Choice 2040 Portfolio** |  |  |  |
| Investor Class, $0.01 Par Value | $331766333 | 24442308 | $13.57 |
| I Class, $0.01 Par Value | $67551286 | 4977141 | $13.57 |
| A Class, $0.01 Par Value | $179571394 | 13235754 | $13.57 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $14.40 |
| C Class, $0.01 Par Value | $987080 | 72889 | $13.54 |
| R Class, $0.01 Par Value | $300752201 | 22174123 | $13.56 |
| R6 Class, $0.01 Par Value | $245484633 | 21678946 | $11.32 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2045 Portfolio** | **One Choice<br>2050 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $1251545050 | $966171364 |
| Receivable for investments sold | 1193889 | 1600996 |
| Receivable for capital shares sold | 1021600 | 470365 |
| Distributions receivable from underlying funds | 1204806 | 770481 |
|  | 1254965345 | 969013206 |
| **Liabilities** |  |  |
| Payable for investments purchased | 1204806 | 770481 |
| Payable for capital shares redeemed | 1205525 | 1284461 |
| Accrued management fees | 834064 | 640024 |
| Distribution and service fees payable | 175900 | 146876 |
|  | 3420295 | 2841842 |
| **Net Assets** | $1251545050 | $966171364 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $939192469 | $721935901 |
| Distributable earnings (loss) | 312352581 | 244235463 |
|  | $1251545050 | $966171364 |
| Investment securities - affiliated, at cost | $987539925 | $761786590 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice 2045 Portfolio** | | | |
| Investor Class, $0.01 Par Value | $469045505 | 25938770 | $18.08 |
| I Class, $0.01 Par Value | $49978571 | 2760649 | $18.10 |
| A Class, $0.01 Par Value | $176663807 | 9776311 | $18.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $19.17 |
| C Class, $0.01 Par Value | $623960 | 34646 | $18.01 |
| R Class, $0.01 Par Value | $326739660 | 18057561 | $18.09 |
| R6 Class, $0.01 Par Value | $228493547 | 24056637 | $9.50 |
| **One Choice 2050 Portfolio** |  |  |  |
| Investor Class, $0.01 Par Value | $282415837 | 18780716 | $15.04 |
| I Class, $0.01 Par Value | $46860413 | 3111446 | $15.06 |
| A Class, $0.01 Par Value | $158324916 | 10529012 | $15.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $15.96 |
| C Class, $0.01 Par Value | $626313 | 41732 | $15.01 |
| R Class, $0.01 Par Value | $267410342 | 17766128 | $15.05 |
| R6 Class, $0.01 Par Value | $210533543 | 16747519 | $12.57 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2055 Portfolio** | **One Choice<br>2060 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $727452698 | $430610814 |
| Receivable for investments sold | 692310 | 2549886 |
| Receivable for capital shares sold | 639741 | 282740 |
| Distributions receivable from underlying funds | 445990 | 224483 |
|  | 729230739 | 433667923 |
| **Liabilities** |  |  |
| Payable for investments purchased | 445990 | 224483 |
| Payable for capital shares redeemed | 733190 | 2476205 |
| Accrued management fees | 481198 | 283080 |
| Distribution and service fees payable | 117663 | 73343 |
|  | 1778041 | 3057111 |
| **Net Assets** | $727452698 | $430610812 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $539460297 | $330129503 |
| Distributable earnings (loss) | 187992401 | 100481309 |
|  | $727452698 | $430610812 |
| Investment securities - affiliated, at cost | $573947845 | $346764372 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice 2055 Portfolio** | | | |
| Investor Class, $0.01 Par Value | $178462435 | 10126377 | $17.62 |
| I Class, $0.01 Par Value | $35952101 | 2040931 | $17.62 |
| A Class, $0.01 Par Value | $117577902 | 6681265 | $17.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $18.67 |
| C Class, $0.01 Par Value | $505257 | 28937 | $17.46 |
| R Class, $0.01 Par Value | $219760036 | 12466715 | $17.63 |
| R6 Class, $0.01 Par Value | $175194967 | 12837431 | $13.65 |
| **One Choice 2060 Portfolio** |  |  |  |
| Investor Class, $0.01 Par Value | $92878997 | 5605290 | $16.57 |
| I Class, $0.01 Par Value | $10676811 | 643950 | $16.58 |
| A Class, $0.01 Par Value | $69998112 | 4226139 | $16.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $17.57 |
| C Class, $0.01 Par Value | $178450 | 10869 | $16.42 |
| R Class, $0.01 Par Value | $138481030 | 8365408 | $16.55 |
| R6 Class, $0.01 Par Value | $118397412 | 7116601 | $16.64 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2065 Portfolio** | **One Choice<br>2070 Portfolio** |
| **Assets** | | |
| Investment securities - affiliated, at value | $144575854 | $750252 |
| Receivable for investments sold | 11390 |  |
| Receivable for capital shares sold | 156888 | 90870 |
| Distributions receivable from underlying funds | 65038 | 217 |
|  | 144809170 | 841339 |
| **Liabilities** |  |  |
| Payable for investments purchased | 65038 | 90648 |
| Payable for capital shares redeemed | 45489 |  |
| Accrued management fees | 93886 | 353 |
| Distribution and service fees payable | 28903 | 93 |
|  | 233316 | 91094 |
| **Net Assets** | $144575854 | $750245 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $119951949 | $742168 |
| Distributable earnings (loss) | 24623905 | 8077 |
|  | $144575854 | $750245 |
| Investment securities - affiliated, at cost | $126613598 | $757072 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **One Choice 2065 Portfolio** | | | |
| Investor Class, $0.01 Par Value | $18795747 | 1330360 | $14.13 |
| I Class, $0.01 Par Value | $2253343 | 159585 | $14.12 |
| A Class, $0.01 Par Value | $21950088 | 1555437 | $14.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $14.97 |
| C Class, $0.01 Par Value | $142829 | 10122 | $14.11 |
| R Class, $0.01 Par Value | $57974645 | 4105229 | $14.12 |
| R6 Class, $0.01 Par Value | $43459202 | 3074714 | $14.13 |
| **One Choice 2070 Portfolio** |  |  |  |
| Investor Class, $0.01 Par Value | $437448 | 43019 | $10.17 |
| I Class, $0.01 Par Value | $25970 | 2554 | $10.17 |
| A Class, $0.01 Par Value | $68014 | 6692 | $10.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) |  | $10.78 |
| C Class, $0.01 Par Value | $25918 | 2552 | $10.16 |
| R Class, $0.01 Par Value | $166918 | 16421 | $10.16 |
| R6 Class, $0.01 Par Value | $25977 | 2554 | $10.17 |

---

Maximum offering price per share was equal to the net asset value per share for all share classes, except A Class. The A Class may incur an initial sales charge and the A Class and C Class may be subject to a contingent deferred sales charge.

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice<br> In Retirement Portfolio** | **One Choice<br>2030 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $64165453 | $31452937 |
| Interest | 14323 | 6486 |
|  | 64179776 | 31459423 |
| **Expenses:** |  |  |
| Management fees | 9234253 | 4505720 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | 477835 | 238459 |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | 12507 | 6763 |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | 760945 | 658833 |
| Directors' fees and expenses | 37972 | 18884 |
|  | 10523512 | 5428659 |
| Fees waived | (656516) | (223823) |
|  | 9866996 | 5204836 |
| **Net investment income (loss)** | 54312780 | 26254587 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 45988261 | 27508357 |
| Capital gain distributions received from underlying funds | 98614039 | 51860516 |
|  | 144602300 | 79368873 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (44639211) | (23086033) |
| **Net realized and unrealized gain (loss) on affiliates** | 99963089 | 56282840 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $154275869 | $82537427 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2035 Portfolio** | **One Choice<br>2040 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $39343012 | $28708503 |
| Interest | 7112 | 6941 |
|  | 39350124 | 28715444 |
| **Expenses:** |  |  |
| Management fees | 5983845 | 4523767 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | 286686 | 214229 |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | 4789 | 7100 |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | 799287 | 744918 |
| Directors' fees and expenses | 23601 | 17459 |
|  | 7098208 | 5507473 |
| Fees waived | (239378) | (215006) |
|  | 6858830 | 5292467 |
| **Net investment income (loss)** | 32491294 | 23422977 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 52068608 | 44378692 |
| Capital gain distributions received from underlying funds | 69463769 | 56927515 |
|  | 121532377 | 101306207 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (43107290) | (35269855) |
| **Net realized and unrealized gain (loss) on affiliates** | 78425087 | 66036352 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $110916381 | $89459329 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | | |
| | **One Choice<br>2045 Portfolio** | **One Choice<br>2050 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $31488057 | $23864665 |
| Interest | 7532 | 6002 |
|  | 31495589 | 23870667 |
| **Expenses:** |  |  |
| Management fees | 5246789 | 4090453 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | 211414 | 188282 |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | 3403 | 3161 |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | 807923 | 654958 |
| Directors' fees and expenses | 19365 | 15012 |
|  | 6288894 | 4951866 |
| Fees waived | (178034) | (156090) |
|  | 6110860 | 4795776 |
| **Net investment income (loss)** | 25384729 | 19074891 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 56519941 | 48785947 |
| Capital gain distributions received from underlying funds | 68315016 | 57106108 |
|  | 124834957 | 105892055 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (43452870) | (36941469) |
| **Net realized and unrealized gain (loss) on affiliates** | 81382087 | 68950586 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $106766816 | $88025477 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED)** |
| | **One Choice <br>2055 Portfolio** | **One Choice<br>2060 Portfolio** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $17663430 | $10322993 |
| Interest | 4433 | 2612 |
|  | 17667863 | 10325605 |
| **Expenses:** |  |  |
| Management fees | 3111804 | 1827304 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | 140108 | 80129 |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | 2848 | 1713 |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | 532549 | 336102 |
| Directors' fees and expenses | 11314 | 6573 |
|  | 3798623 | 2251821 |
| Fees waived | (172309) | (123387) |
|  | 3626314 | 2128434 |
| **Net investment income (loss)** | 14041549 | 8197171 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 37045839 | 17781982 |
| Capital gain distributions received from underlying funds | 46305555 | 28534051 |
|  | 83351394 | 46316033 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (27874799) | (13031336) |
| **Net realized and unrealized gain (loss) on affiliates** | 55476595 | 33284697 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $69518144 | $41481868 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (EXCEPT AS NOTED) (UNAUDITED)** | **FOR THE SIX MONTHS ENDED JANUARY 31, 2026 (EXCEPT AS NOTED) (UNAUDITED)** | |
| | **One Choice<br>2065 Portfolio** | **One Choice**<br>**2070 Portfolio**<sup>(1)</sup> |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Income distributions from underlying funds | $3340708 | $4819 |
| Interest | 1162 |  |
|  | 3341870 | 4819 |
| **Expenses:** |  |  |
| Management fees | 583233 | 563 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | 22967 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | 676 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | 135218 | 74 |
| Directors' fees and expenses | 2061 | 1 |
|  | 744155 | 699 |
| Fees waived | (45328) | (38) |
|  | 698827 | 661 |
| **Net investment income (loss)** | 2643043 | 4158 |
| **Realized and Unrealized Gain (Loss) on Affiliates** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Sales of investments in underlying funds | 1795919 | (504) |
| Capital gain distributions received from underlying funds | 9623979 | 15976 |
|  | 11419898 | 15472 |
| **Change in net unrealized appreciation (depreciation) on investments in underlying funds** | (656626) | (6820) |
| **Net realized and unrealized gain (loss) on affiliates** | 10763272 | 8652 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $13406315 | $12810 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice<br>In Retirement Portfolio** | **One Choice<br>In Retirement Portfolio** | **One Choice<br>2030 Portfolio** | **One Choice<br>2030 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $54312780 | $51997257 | $26254587 | $42284139 |
| Net realized gain (loss) | 144602300 | 86319106 | 79368873 | 91130250 |
| Change in net unrealized appreciation (depreciation) | (44639211) | 3092032 | (23086033) | (20057227) |
| Net increase (decrease) in net assets resulting from operations | 154275869 | 141408395 | 82537427 | 113357162 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (57901134) | (52279622) | (42070141) | (16533486) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class | (4969343) | (12916206) | (7561104) | (11558903) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | (17102957) | (14703991) | (21637264) | (8445873) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | (99524) | (73550) | (142114) | (53127) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | (12861377) | (12898826) | (27796742) | (13789226) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class | (25428712) | (27221879) | (39634460) | (25212675) |
| Decrease in net assets from distributions | (118363047) | (120094074) | (138841825) | (75593290) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (324344875) | 952395135 | (117576672) | (347703392) |
| **Net increase (decrease) in net assets** | (288432053) | 973709456 | (173881070) | (309939520) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 2717840071 | 1744130615 | 1373922073 | 1683861593 |
| End of period | $2429408018 | $2717840071 | $1200041003 | $1373922073 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $32491294 | $47495738 | $23422977 | $33990552 |
| Net realized gain (loss) | 121532377 | 97780271 | 101306207 | 72808793 |
| Change in net unrealized appreciation (depreciation) | (43107290) | (2950947) | (35269855) | 8900876 |
| Net increase (decrease) in net assets resulting from operations | 110916381 | 142325062 | 89459329 | 115700221 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (58499427) | (24271222) | (38205713) | (15221163) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class | (5984653) | (10767366) | (8553103) | (12464860) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | (22876600) | (9269258) | (20153724) | (8588687) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | (80168) | (38001) | (112814) | (69244) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | (29616480) | (14850374) | (32697146) | (17289991) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class | (52455404) | (33679621) | (34164465) | (23182978) |
| Decrease in net assets from distributions | (169512732) | (92875842) | (133886965) | (76816923) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (104365065) | (288089384) | (95290712) | (232496357) |
| **Net increase (decrease) in net assets** | (162961416) | (238640164) | (139718348) | (193613059) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1692907652 | 1931547816 | 1265831275 | 1459444334 |
| End of period | $1529946236 | $1692907652 | $1126112927 | $1265831275 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $25384729 | $34342364 | $19074891 | $24990493 |
| Net realized gain (loss) | 124834957 | 85241574 | 105892055 | 67085532 |
| Change in net unrealized appreciation (depreciation) | (43452870) | 14407031 | (36941469) | 19536899 |
| Net increase (decrease) in net assets resulting from operations | 106766816 | 133990969 | 88025477 | 111612924 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (49679932) | (19324032) | (34420822) | (10981917) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class | (6021463) | (10243888) | (6823006) | (9922764) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | (18600121) | (7342299) | (19234125) | (6612383) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | (67361) | (26907) | (73079) | (27162) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | (32992815) | (15051332) | (31532734) | (12405240) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class | (44515353) | (29648639) | (31892098) | (17599488) |
| Decrease in net assets from distributions | (151877045) | (81637097) | (123975864) | (57548954) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (97991840) | (226256530) | (95889757) | (176180056) |
| **Net increase (decrease) in net assets** | (143102069) | (173902658) | (131840144) | (122116086) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1394647119 | 1568549777 | 1098011508 | 1220127594 |
| End of period | $1251545050 | $1394647119 | $966171364 | $1098011508 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025** |
| | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026** | **July 31, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $14041549 | $16815310 | $8197171 | $9213176 |
| Net realized gain (loss) | 83351394 | 46763958 | 46316033 | 20261465 |
| Change in net unrealized appreciation (depreciation) | (27874799) | 23857920 | (13031336) | 21913676 |
| Net increase (decrease) in net assets resulting from operations | 69518144 | 87437188 | 41481868 | 51388317 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (20031140) | (5366318) | (8567349) | (2209134) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class | (4758474) | (6356441) | (1425016) | (2592861) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | (13218661) | (3851852) | (6415375) | (1669940) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | (56524) | (22425) | (33113) | (7896) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | (23707573) | (7716074) | (12309997) | (4012322) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class | (26217194) | (12191965) | (11789655) | (4614733) |
| Decrease in net assets from distributions | (87989566) | (35505075) | (40540505) | (15106886) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (80420995) | (106028532) | (45615267) | (45024313) |
| **Net increase (decrease) in net assets** | (98892417) | (54096419) | (44673904) | (8742882) |
| **Net Assets** |  |  |  |  |
| Beginning of period | 826345115 | 880441534 | 475284716 | 484027598 |
| End of period | $727452698 | $826345115 | $430610812 | $475284716 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | |
|:---|:---|:---|:---|
| **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025 (EXCEPT AS NOTED)** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025 (EXCEPT AS NOTED)** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025 (EXCEPT AS NOTED)** | **SIX MONTHS ENDED JANUARY 31, 2026 (UNAUDITED) AND YEAR ENDED JULY 31, 2025 (EXCEPT AS NOTED)** |
| | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2070 Portfolio** |
| **Increase (Decrease) in Net Assets** | **January 31, 2026** | **July 31, 2025** | **January 31, 2026**<sup>(1)</sup> |
| **Operations** | | | |
| Net investment income (loss) | $2643043 | $2000378 | $4158 |
| Net realized gain (loss) | 11419898 | 3180922 | 15472 |
| Change in net unrealized appreciation (depreciation) | (656626) | 7915443 | (6820) |
| Net increase (decrease) in net assets resulting from operations | 13406315 | 13096743 | 12810 |
| **Distributions to Shareholders** |  |  |  |
| From earnings: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class | (982670) | (266113) | (1983) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class | (124104) | (517202) | (534) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class | (1131755) | (283656) | (530) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class | (6462) | (2127) | (509) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class | (2843126) | (755476) | (640) |
| &nbsp;&nbsp;&nbsp;&nbsp;R6 Class | (2638635) | (895291) | (537) |
| Decrease in net assets from distributions | (7726752) | (2719865) | (4733) |
| **Capital Share Transactions** |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (5564575) | 38634445 | 742168 |
| **Net increase (decrease) in net assets** | 114988 | 49011323 | 750245 |
| **Net Assets** |  |  |  |
| Beginning of period | 144460866 | 95449543 |  |
| End of period | $144575854 | $144460866 | $750245 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

See Notes to Financial Statements.

------

Notes to Financial Statements

**JANUARY 31, 2026 (UNAUDITED)**

**1. Organization**

American Century Asset Allocation Portfolios, 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. Each fund operates as a fund of funds, meaning that it seeks to achieve its objective by investing in other American Century Investments mutual funds (the underlying funds) that represent a variety of asset classes and investment styles. Additional information and attributes of each underlying fund are available at americancentury.com. The financial statements herein relate to the following funds and the respective share classes offered by the corporation.

---

| | |
|:---|:---|
| One Choice In Retirement Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2030 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2035 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2040 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2045 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2050 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2055 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2060 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2065 Portfolio | Investor, I, A, C, R, R6 |
| One Choice 2070 Portfolio | Investor, I, A, C, R, R6 |

---

All classes of One Choice 2070 Portfolio commenced sale on December 1, 2025, the fund's inception date.

Each fund represents a single operating segment as its operating results are monitored as a whole and the long-term asset allocation is determined in accordance with its prospectus, based on defined investment objectives executed by the fund's portfolio management team. The President of the funds serves as the chief operating decision maker (CODM). A fund's income, expenses, assets, and performance are regularly monitored and assessed by the CODM, using the information consistent with that presented in the financial statements and financial highlights.

**2. Significant Accounting Policies**

The following is a summary of significant accounting policies consistently followed by the funds in preparation of their financial statements. Each 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 —** Each 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 a fund's investments 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. Open-end management investment companies are valued at their reported NAV per share. Exchange-traded funds are listed or traded on a domestic securities exchange and are valued at the last reported sales price or at the official closing price as provided by the exchange.

**Fair Value Measurements —** The investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by a fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

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

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

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

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

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

------

**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 —** Income and capital gain distributions, if any, from the underlying funds are recorded as of the ex-dividend date. Long-term capital gain distributions, if any, from the underlying funds are a component of net realized gain (loss). Interest income less foreign taxes withheld, if any, is recorded on the accrual basis and includes paydown gain (loss) and accretion of discounts and amortization of premiums.

**Income Tax Status —** It is each 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. A fund files U.S. federal, state, local and non-U.S. tax returns as applicable. A 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 a 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 a fund are allocated to each class of shares based on their relative net assets.

**Distributions to Shareholders —** Distributions to shareholders are recorded on the ex-dividend date in a manner consistent with provisions of the 1940 Act. A 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). Distributions from net realized gains, if any, are generally declared and paid annually. Distributions from net investment income, if any, are generally declared and paid as follows:

---

| | |
|:---|:---|
| One Choice In Retirement Portfolio | Quarterly |
| One Choice 2030 Portfolio | Annually |
| One Choice 2035 Portfolio | Annually |
| One Choice 2040 Portfolio | Annually |
| One Choice 2045 Portfolio | Annually |
| One Choice 2050 Portfolio | Annually |
| One Choice 2055 Portfolio | Annually |
| One Choice 2060 Portfolio | Annually |
| One Choice 2065 Portfolio | Annually |
| One Choice 2070 Portfolio | 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 a fund. In addition, in the normal course of business, a fund may enter 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. ACIM serves as the investment advisor for the underlying funds.

**Management Fees —** The corporation has entered into a management agreement with ACIM, under which ACIM provides each 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 a 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 the daily net assets of each class 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 a fund's assets, which do not vary by class. Each year, the Board of Directors will approve a new management fee rate to be applied December 1st. The fee rate will be based on the most conservative neutral mix of the underlying funds as estimated by the portfolio managers for the upcoming year, and adjusted for each class to reflect such class's separate arrangements for shareholder services. During the period ended January 31, 2026, the investment advisor agreed to waive a portion of each class's management fee. The investment advisor expects the waivers to continue until November 30, 2026 and cannot terminate them prior to such date without the approval of the Board of Directors.

------

From August 1, 2025 until November 30, 2025, the annual management fee and the fee waiver was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Annual Management Fee** | **Annual Management Fee** | **Annual Management Fee** | **Fee Waiver** | **Fee Waiver** | **Fee Waiver** |
| | **Investor, A, C and R Classes** | **I Class** | **R6 Class** | **Investor, A, C and R Classes** | **I Class** | **R6 Class** |
| One Choice In Retirement Portfolio | 0.78% | 0.60% | 0.49% | 0.04% | 0.06% | 0.10% |
| One Choice 2030 Portfolio | 0.80% | 0.62% | 0.50% | 0.02% | 0.04% | 0.07% |
| One Choice 2035 Portfolio | 0.83% | 0.64% | 0.52% | 0.02% | 0.03% | 0.06% |
| One Choice 2040 Portfolio | 0.86% | 0.66% | 0.55% | 0.03% | 0.03% | 0.07% |
| One Choice 2045 Portfolio | 0.88% | 0.69% | 0.56% | 0.02% | 0.03% | 0.05% |
| One Choice 2050 Portfolio | 0.90% | 0.71% | 0.58% | 0.02% | 0.03% | 0.05% |
| One Choice 2055 Portfolio | 0.92% | 0.72% | 0.59% | 0.04% | 0.04% | 0.06% |
| One Choice 2060 Portfolio | 0.93% | 0.73% | 0.60% | 0.05% | 0.05% | 0.07% |
| One Choice 2065 Portfolio | 0.94% | 0.74% | 0.60% | 0.06% | 0.06% | 0.07% |

---

Effective December 1, 2025, the annual management fee and the fee waiver are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Annual Management Fee** | **Annual Management Fee** | **Annual Management Fee** | **Fee Waiver** | **Fee Waiver** | **Fee Waiver** |
| | **Investor, A, C and R Classes** | **I Class** | **R6 Class** | **Investor, A, C and R Classes** | **I Class** | **R6 Class** |
| One Choice In Retirement Portfolio | 0.78% | 0.60% | 0.49% | 0.04% | 0.06% | 0.10% |
| One Choice 2030 Portfolio | 0.80% | 0.62% | 0.51% | 0.02% | 0.04% | 0.08% |
| One Choice 2035 Portfolio | 0.83% | 0.64% | 0.53% | 0.02% | 0.03% | 0.07% |
| One Choice 2040 Portfolio | 0.85% | 0.66% | 0.55% | 0.02% | 0.03% | 0.07% |
| One Choice 2045 Portfolio | 0.88% | 0.69% | 0.57% | 0.02% | 0.03% | 0.06% |
| One Choice 2050 Portfolio | 0.90% | 0.71% | 0.58% | 0.03% | 0.04% | 0.06% |
| One Choice 2055 Portfolio | 0.92% | 0.73% | 0.59% | 0.04% | 0.05% | 0.06% |
| One Choice 2060 Portfolio | 0.93% | 0.73% | 0.60% | 0.05% | 0.05% | 0.07% |
| One Choice 2065 Portfolio | 0.94% | 0.74% | 0.61% | 0.06% | 0.06% | 0.08% |
| One Choice 2070 Portfolio | 0.94% | 0.74% | 0.60% | 0.06% | 0.06% | 0.07% |

---

The effective annual management fee, the fee waiver and the effective annual management fee after waiver for the period ended January 31, 2026 are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Effective Annual Management Fee** | **Effective Annual Management Fee** | **Effective Annual Management Fee** | **Fee Waiver** | **Fee Waiver** | **Fee Waiver** |
| | **Investor, A, C and R Classes** | **I Class** | **R6 Class** | **Investor, A, C and R Classes** | **I Class** | **R6 Class** |
| One Choice In Retirement Portfolio | 0.78% | 0.60% | 0.49% | 0.04% | 0.06% | 0.10% |
| One Choice 2030 Portfolio | 0.80% | 0.62% | 0.50% | 0.02% | 0.04% | 0.07% |
| One Choice 2035 Portfolio | 0.83% | 0.64% | 0.52% | 0.02% | 0.03% | 0.06% |
| One Choice 2040 Portfolio | 0.86% | 0.66% | 0.55% | 0.03% | 0.03% | 0.07% |
| One Choice 2045 Portfolio | 0.88% | 0.69% | 0.56% | 0.02% | 0.03% | 0.05% |
| One Choice 2050 Portfolio | 0.90% | 0.71% | 0.58% | 0.02% | 0.03% | 0.05% |
| One Choice 2055 Portfolio | 0.92% | 0.72% | 0.59% | 0.04% | 0.04% | 0.06% |
| One Choice 2060 Portfolio | 0.93% | 0.73% | 0.60% | 0.05% | 0.05% | 0.07% |
| One Choice 2065 Portfolio | 0.94% | 0.74% | 0.60% | 0.06% | 0.06% | 0.07% |
| One Choice 2070 Portfolio | 0.94% | 0.74% | 0.60% | 0.06% | 0.06% | 0.07% |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Effective Annual Management Fee After Waiver** | **Effective Annual Management Fee After Waiver** | **Effective Annual Management Fee After Waiver** |
| | **Investor, A, C and R Classes** | **I Class** | **R6 Class** |
| One Choice In Retirement Portfolio | 0.74% | 0.54% | 0.39% |
| One Choice 2030 Portfolio | 0.78% | 0.58% | 0.43% |
| One Choice 2035 Portfolio | 0.81% | 0.61% | 0.46% |
| One Choice 2040 Portfolio | 0.83% | 0.63% | 0.48% |
| One Choice 2045 Portfolio | 0.86% | 0.66% | 0.51% |
| One Choice 2050 Portfolio | 0.88% | 0.68% | 0.53% |
| One Choice 2055 Portfolio | 0.88% | 0.68% | 0.53% |
| One Choice 2060 Portfolio | 0.88% | 0.68% | 0.53% |
| One Choice 2065 Portfolio | 0.88% | 0.68% | 0.53% |
| One Choice 2070 Portfolio | 0.88% | 0.68% | 0.53% |

---

------

The management fees waived for the period ended January 31, 2026 are as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Investor Class** | **I Class** | **A Class** | **C Class** | **R Class** | **R6 Class** |
| One Choice In Retirement Portfolio | $255986 | $52474 | $76454 | $500 | $60876 | $210226 |
| One Choice 2030 Portfolio | $37914 | $23438 | $19077 | $135 | $26353 | $116906 |
| One Choice 2035 Portfolio | $58852 | $16781 | $22935 | $96 | $31972 | $108742 |
| One Choice 2040 Portfolio | $43286 | $17943 | $22679 | $195 | $39670 | $91233 |
| One Choice 2045 Portfolio | $45600 | $15270 | $16913 | $68 | $32317 | $67866 |
| One Choice 2050 Portfolio | $31904 | $15773 | $17719 | $74 | $30660 | $59960 |
| One Choice 2055 Portfolio | $33557 | $15788 | $22417 | $114 | $42604 | $57829 |
| One Choice 2060 Portfolio | $21746 | $8788 | $16026 | $86 | $33610 | $43131 |
| One Choice 2065 Portfolio | $4993 | $2776 | $5512 | $41 | $16226 | $15780 |
| One Choice 2070 Portfolio | $16 | $3 | $4 | $3 | $9 | $3 |

---

**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 January 31, 2026 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 funds. The directors receive detailed information about the funds and their investment advisor regularly throughout the year, and meet at least quarterly with management of the investment advisor to review reports about fund operations. The funds' officers do not receive compensation from the funds.

**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.

**Related Party Ownership —** A related party, including other funds advised by American Century Investments, may own outstanding shares of a fund. Related parties do not invest in a fund for the purpose of exercising management or control. As of period end, related parties with ownership of 5% or more of the outstanding shares of a fund are as follows:

---

| | | |
|:---|:---|:---|
|  | **Related Party** | **% of Outstanding Shares** |
| One Choice 2070 Portfolio | American Century Investment Management, Inc. (ACIM) | 21% |

---

**4. Investment Transactions**

Investment transactions for the period ended January 31, 2026 were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice** <br>**In Retirement Portfolio** | **One Choice**<br>**2030 Portfolio** | **One Choice**<br>**2035 Portfolio** | **One Choice**<br>**2040 Portfolio** | **One Choice<br>2045 Portfolio** |
| Purchases | $265815372 | $140006733 | $185841710 | $126634018 | $133674109 |
| Sales | $555596475 | $318310127 | $357764456 | $275461203 | $289843249 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice**<br>**2050 Portfolio** | **One Choice**<br>**2055 Portfolio** | **One Choice**<br>**2060 Portfolio** | **One Choice**<br>**2065 Portfolio** | **One Choice**<br>**2070 Portfolio**<sup>(1)</sup> |
| Purchases | $115127419 | $96285312 | $63493104 | $35228745 | $767353 |
| Sales | $258812041 | $204348769 | $112917652 | $36253050 | $9777 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

------

**5. Capital Share Transactions** 

The corporation is authorized to issue 6,000,000,000 shares. Transactions in shares of the funds were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice In Retirement Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 4998979 | $64239217 | 8504873 | $107306416 |
| Issued in connection with reorganization (Note 8) |  |  | 40816685 | 502104179 |
| Issued in reinvestment of distributions | 4555630 | 57265176 | 4151192 | 51420192 |
| Redeemed | (10452581) | (134446883) | (15828423) | (199196200) |
|  | (897972) | (12942490) | 37644327 | 461634587 |
| **I Class** |  |  |  |  |
| Sold | 591193 | 7572384 | 1553057 | 19589260 |
| Issued in connection with reorganization (Note 8) |  |  | 13387543 | 164656776 |
| Issued in reinvestment of distributions | 381919 | 4804493 | 1037845 | 12861664 |
| Redeemed | (20563673) | (266341929) | (4517563) | (57178679) |
|  | (19590561) | (253965052) | 11460882 | 139929021 |
| **A Class** |  |  |  |  |
| Sold | 2685629 | 34645027 | 4489118 | 56893880 |
| Issued in connection with reorganization (Note 8) |  |  | 11202836 | 137844486 |
| Issued in reinvestment of distributions | 1344826 | 16912066 | 1169127 | 14485023 |
| Redeemed | (2880621) | (36945899) | (4475359) | (56532857) |
|  | 1149834 | 14611194 | 12385722 | 152690532 |
| **C Class** |  |  |  |  |
| Sold | 12040 | 152750 | 5767 | 71634 |
| Issued in connection with reorganization (Note 8) |  |  | 114595 | 1392849 |
| Issued in reinvestment of distributions | 8023 | 99524 | 6019 | 73550 |
| Redeemed | (38568) | (487676) | (30472) | (376162) |
|  | (18505) | (235402) | 95909 | 1161871 |
| **R Class** |  |  |  |  |
| Sold | 1797549 | 22994080 | 3068605 | 38506047 |
| Issued in connection with reorganization (Note 8) |  |  | 12667348 | 155244470 |
| Issued in reinvestment of distributions | 1025304 | 12850000 | 1043623 | 12887248 |
| Redeemed | (3375914) | (43413077) | (10855450) | (134981892) |
|  | (553061) | (7568997) | 5924126 | 71655873 |
| **R6 Class** |  |  |  |  |
| Sold | 1946557 | 18315351 | 10155240 | 96315490 |
| Issued in connection with reorganization (Note 8) |  |  | 21560616 | 196238937 |
| Issued in reinvestment of distributions | 2644913 | 24246210 | 2788918 | 25771148 |
| Redeemed | (11255007) | (106805689) | (20415084) | (193002324) |
|  | (6663537) | (64244128) | 14089690 | 125323251 |
| Net increase (decrease) | (26573802) | $(324344875) | 81600656 | $952395135 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2030 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 2965823 | $39240533 | 5458384 | $69778212 |
| Issued in reinvestment of distributions | 3406295 | 41624929 | 1325996 | 16415832 |
| Redeemed | (3517753) | (46817126) | (9667553) | (123878698) |
|  | 2854365 | 34048336 | (2883173) | (37684654) |
| **I Class** |  |  |  |  |
| Sold | 404093 | 5381248 | 2794472 | 35466320 |
| Issued in reinvestment of distributions | 610170 | 7450171 | 931255 | 11519625 |
| Redeemed | (14327291) | (193983490) | (5398565) | (69480753) |
|  | (13313028) | (181152071) | (1672838) | (22494808) |
| **A Class** |  |  |  |  |
| Sold | 2100788 | 28109763 | 3206589 | 41024975 |
| Issued in reinvestment of distributions | 1711852 | 20884590 | 632242 | 7814517 |
| Redeemed | (1605236) | (20876643) | (4694837) | (59486679) |
|  | 2207404 | 28117710 | (856006) | (10647187) |
| **C Class** |  |  |  |  |
| Sold | 7651 | 102329 | 11775 | 150374 |
| Issued in reinvestment of distributions | 11592 | 142114 | 4281 | 53127 |
| Redeemed | (11557) | (148664) | (50056) | (636237) |
|  | 7686 | 95779 | (34000) | (432736) |
| **R Class** |  |  |  |  |
| Sold | 1740314 | 22937640 | 4484487 | 57099994 |
| Issued in reinvestment of distributions | 2269507 | 27733370 | 1111779 | 13763823 |
| Redeemed | (2606741) | (34778538) | (13235482) | (169065816) |
|  | 1403080 | 15892472 | (7639216) | (98201999) |
| **R6 Class** |  |  |  |  |
| Sold | 1881681 | 21701907 | 6412736 | 72445611 |
| Issued in reinvestment of distributions | 3608528 | 38178232 | 2217585 | 24193852 |
| Redeemed | (6384406) | (74459037) | (24323549) | (274881471) |
|  | (894197) | (14578898) | (15693228) | (178242008) |
| Net increase (decrease) | (7734690) | $(117576672) | (28778461) | $(347703392) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2035 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 2837563 | $48904972 | 4962926 | $81695191 |
| Issued in reinvestment of distributions | 3629014 | 58281969 | 1516018 | 24180489 |
| Redeemed | (3331481) | (57420073) | (8462151) | (139485252) |
|  | 3135096 | 49766868 | (1983207) | (33609572) |
| **I Class** |  |  |  |  |
| Sold | 390836 | 6770333 | 1886511 | 30817391 |
| Issued in reinvestment of distributions | 362122 | 5822917 | 670822 | 10706321 |
| Redeemed | (11336931) | (199371361) | (3634041) | (60211179) |
|  | (10583973) | (186778111) | (1076708) | (18687467) |
| **A Class** |  |  |  |  |
| Sold | 1681667 | 29314434 | 2734689 | 45063372 |
| Issued in reinvestment of distributions | 1407627 | 22620576 | 552158 | 8806919 |
| Redeemed | (1068190) | (18367663) | (3752854) | (61323880) |
|  | 2021104 | 33567347 | (466007) | (7453589) |
| **C Class** |  |  |  |  |
| Sold | 1916 | 32886 | 6407 | 104390 |
| Issued in reinvestment of distributions | 4989 | 80168 | 2382 | 38000 |
| Redeemed | (9252) | (160069) | (25596) | (412455) |
|  | (2347) | (47015) | (16807) | (270065) |
| **R Class** |  |  |  |  |
| Sold | 1663632 | 28527035 | 4359977 | 71436728 |
| Issued in reinvestment of distributions | 1836971 | 29538488 | 928861 | 14824616 |
| Redeemed | (2560360) | (44406290) | (10406107) | (171130908) |
|  | 940243 | 13659233 | (5117269) | (84869564) |
| **R6 Class** |  |  |  |  |
| Sold | 2367820 | 24393257 | 6987410 | 71813882 |
| Issued in reinvestment of distributions | 5459045 | 50496169 | 3262065 | 32196578 |
| Redeemed | (8369682) | (89422813) | (24019142) | (247209587) |
|  | (542817) | (14533387) | (13769667) | (143199127) |
| Net increase (decrease) | (5032694) | $(104365065) | (22429665) | $(288089384) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2040 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 2770026 | $40021190 | 4495741 | $61996057 |
| Issued in reinvestment of distributions | 2872370 | 38173798 | 1139775 | 15204602 |
| Redeemed | (2737225) | (39213912) | (6287138) | (87366316) |
|  | 2905171 | 38981076 | (651622) | (10165657) |
| **I Class** |  |  |  |  |
| Sold | 504238 | 7286348 | 1961254 | 26845658 |
| Issued in reinvestment of distributions | 625855 | 8311354 | 927257 | 12369604 |
| Redeemed | (12546596) | (185147488) | (3473022) | (48299602) |
|  | (11416503) | (169549786) | (584511) | (9084340) |
| **A Class** |  |  |  |  |
| Sold | 1853408 | 27103483 | 2433721 | 33736874 |
| Issued in reinvestment of distributions | 1469783 | 19518718 | 600370 | 8008944 |
| Redeemed | (1420789) | (20490609) | (3405974) | (46675903) |
|  | 1902402 | 26131592 | (371883) | (4930085) |
| **C Class** |  |  |  |  |
| Sold | 2425 | 34995 | 47775 | 662998 |
| Issued in reinvestment of distributions | 8502 | 112814 | 5195 | 69244 |
| Redeemed | (51395) | (749501) | (18254) | (248194) |
|  | (40468) | (601692) | 34716 | 484048 |
| **R Class** |  |  |  |  |
| Sold | 1987276 | 28484303 | 5039537 | 69234015 |
| Issued in reinvestment of distributions | 2456226 | 32618683 | 1294393 | 17267214 |
| Redeemed | (2643308) | (38581164) | (12252677) | (168996211) |
|  | 1800194 | 22521822 | (5918747) | (82494982) |
| **R6 Class** |  |  |  |  |
| Sold | 1676196 | 20266735 | 5973254 | 70859584 |
| Issued in reinvestment of distributions | 2924460 | 32403019 | 1934284 | 22031492 |
| Redeemed | (5260861) | (65443478) | (18487924) | (219196417) |
|  | (660205) | (12773724) | (10580386) | (126305341) |
| Net increase (decrease) | (5509409) | $(95290712) | (18072433) | $(232496357) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2045 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 2064180 | $39303509 | 3664291 | $65923997 |
| Issued in reinvestment of distributions | 2806018 | 49526212 | 1102629 | 19251898 |
| Redeemed | (1962066) | (37440601) | (5856204) | (105726083) |
|  | 2908132 | 51389120 | (1089284) | (20550188) |
| **I Class** |  |  |  |  |
| Sold | 361127 | 6868726 | 1782392 | 31929627 |
| Issued in reinvestment of distributions | 313286 | 5535769 | 573128 | 10012538 |
| Redeemed | (9450734) | (183901188) | (3302351) | (60011026) |
|  | (8776321) | (171496693) | (946831) | (18068861) |
| **A Class** |  |  |  |  |
| Sold | 1388877 | 26785366 | 2029157 | 36589599 |
| Issued in reinvestment of distributions | 1023404 | 18052840 | 396284 | 6915138 |
| Redeemed | (1160518) | (21974780) | (2688222) | (48059739) |
|  | 1251763 | 22863426 | (262781) | (4555002) |
| **C Class** |  |  |  |  |
| Sold | 2784 | 51834 | 4499 | 80678 |
| Issued in reinvestment of distributions | 3827 | 67361 | 1545 | 26907 |
| Redeemed | (8534) | (158041) | (20401) | (364150) |
|  | (1923) | (38846) | (14357) | (256565) |
| **R Class** |  |  |  |  |
| Sold | 1603833 | 30415270 | 4153562 | 74536029 |
| Issued in reinvestment of distributions | 1865102 | 32956360 | 860107 | 15034680 |
| Redeemed | (2156601) | (41544296) | (8258915) | (149203254) |
|  | 1312334 | 21827334 | (3245246) | (59632545) |
| **R6 Class** |  |  |  |  |
| Sold | 1960177 | 20925305 | 6364525 | 67140068 |
| Issued in reinvestment of distributions | 4638572 | 42999558 | 2778517 | 28035239 |
| Redeemed | (7871507) | (86461044) | (20649444) | (218368676) |
|  | (1272758) | (22536181) | (11506402) | (123193369) |
| Net increase (decrease) | (4578773) | $(97991840) | (17064901) | $(226256530) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2050 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 2321628 | $37139355 | 3711893 | $56074079 |
| Issued in reinvestment of distributions | 2345743 | 34365130 | 745396 | 10964777 |
| Redeemed | (1875068) | (30201316) | (4555763) | (69223727) |
|  | 2792303 | 41303169 | (98474) | (2184871) |
| **I Class** |  |  |  |  |
| Sold | 509728 | 8148267 | 2135019 | 32179630 |
| Issued in reinvestment of distributions | 435441 | 6387918 | 664316 | 9778733 |
| Redeemed | (11391056) | (187169651) | (3351287) | (51366265) |
|  | (10445887) | (172633466) | (551952) | (9407902) |
| **A Class** |  |  |  |  |
| Sold | 1405397 | 22776793 | 2361550 | 35893763 |
| Issued in reinvestment of distributions | 1252356 | 18347015 | 407849 | 5999456 |
| Redeemed | (1099225) | (17561828) | (2807139) | (42168405) |
|  | 1558528 | 23561980 | (37740) | (275186) |
| **C Class** |  |  |  |  |
| Sold | 1612 | 25376 | 4775 | 71588 |
| Issued in reinvestment of distributions | 4992 | 73079 | 1849 | 27162 |
| Redeemed | (4223) | (67181) | (40913) | (628695) |
|  | 2381 | 31274 | (34289) | (529945) |
| **R Class** |  |  |  |  |
| Sold | 1699379 | 27154521 | 4154985 | 62741793 |
| Issued in reinvestment of distributions | 2146984 | 31496262 | 841531 | 12387332 |
| Redeemed | (1978219) | (32081892) | (8938040) | (136450351) |
|  | 1868144 | 26568891 | (3941524) | (61321226) |
| **R6 Class** |  |  |  |  |
| Sold | 1476372 | 19886113 | 4806212 | 62449567 |
| Issued in reinvestment of distributions | 2510627 | 30730079 | 1320228 | 16634880 |
| Redeemed | (4729806) | (65337797) | (13913104) | (181545373) |
|  | (742807) | (14721605) | (7786664) | (102460926) |
| Net increase (decrease) | (4967338) | $(95889757) | (12450643) | $(176180056) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2055 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 1634258 | $30342275 | 2401602 | $41672689 |
| Issued in reinvestment of distributions | 1166623 | 19995916 | 316326 | 5352242 |
| Redeemed | (989286) | (18354748) | (2871056) | (50115347) |
|  | 1811595 | 31983443 | (153128) | (3090416) |
| **I Class** |  |  |  |  |
| Sold | 330694 | 6113656 | 1797529 | 30954713 |
| Issued in reinvestment of distributions | 252373 | 4323145 | 369612 | 6250147 |
| Redeemed | (7518957) | (142789855) | (2926332) | (51206926) |
|  | (6935890) | (132353054) | (759191) | (14002066) |
| **A Class** |  |  |  |  |
| Sold | 939677 | 17700779 | 1534163 | 26685627 |
| Issued in reinvestment of distributions | 766555 | 13123420 | 226021 | 3819751 |
| Redeemed | (807353) | (15006541) | (1537133) | (26546051) |
|  | 898879 | 15817658 | 223051 | 3959327 |
| **C Class** |  |  |  |  |
| Sold | 1507 | 27681 | 6200 | 107341 |
| Issued in reinvestment of distributions | 3325 | 56524 | 1335 | 22425 |
| Redeemed | (13848) | (256740) | (21676) | (368693) |
|  | (9016) | (172535) | (14141) | (238927) |
| **R Class** |  |  |  |  |
| Sold | 1287336 | 23815304 | 3259899 | 56276151 |
| Issued in reinvestment of distributions | 1379842 | 23664294 | 455069 | 7704319 |
| Redeemed | (1350826) | (25440683) | (5689623) | (99887551) |
|  | 1316352 | 22038915 | (1974655) | (35907081) |
| **R6 Class** |  |  |  |  |
| Sold | 1471785 | 21633506 | 4240398 | 59202543 |
| Issued in reinvestment of distributions | 1876288 | 24898340 | 843187 | 11433615 |
| Redeemed | (4284486) | (64267268) | (9074447) | (127385527) |
|  | (936413) | (17735422) | (3990862) | (56749369) |
| Net increase (decrease) | (3854493) | $(80420995) | (6668926) | $(106028532) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2060 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 899518 | $15416879 | 1491787 | $23600215 |
| Issued in reinvestment of distributions | 530314 | 8538062 | 142276 | 2205282 |
| Redeemed | (572523) | (9862193) | (1480814) | (23534637) |
|  | 857309 | 14092748 | 153249 | 2270860 |
| **I Class** |  |  |  |  |
| Sold | 183956 | 3154722 | 1433086 | 22568249 |
| Issued in reinvestment of distributions | 88402 | 1424152 | 167160 | 2592653 |
| Redeemed | (4819141) | (84106980) | (1577689) | (25221419) |
|  | (4546783) | (79528106) | 22557 | (60517) |
| **A Class** |  |  |  |  |
| Sold | 821919 | 14278373 | 1155513 | 18323769 |
| Issued in reinvestment of distributions | 391365 | 6300979 | 105662 | 1637749 |
| Redeemed | (382914) | (6549629) | (1024646) | (16068431) |
|  | 830370 | 14029723 | 236529 | 3893087 |
| **C Class** |  |  |  |  |
| Sold | 454 | 7704 | 981 | 15362 |
| Issued in reinvestment of distributions | 2073 | 33113 | 513 | 7896 |
| Redeemed | (12959) | (210463) | (4584) | (71617) |
|  | (10432) | (169646) | (3090) | (48359) |
| **R Class** |  |  |  |  |
| Sold | 1049247 | 17956317 | 2979233 | 46943446 |
| Issued in reinvestment of distributions | 764892 | 12307105 | 258757 | 4010737 |
| Redeemed | (1061229) | (18371909) | (5032259) | (80916696) |
|  | 752910 | 11891513 | (1794269) | (29962513) |
| **R6 Class** |  |  |  |  |
| Sold | 1078294 | 18422925 | 2822548 | 44783027 |
| Issued in reinvestment of distributions | 704059 | 11377589 | 286535 | 4455621 |
| Redeemed | (2074094) | (35732013) | (4402486) | (70355519) |
|  | (291741) | (5931499) | (1293403) | (21116871) |
| Net increase (decrease) | (2408367) | $(45615267) | (2678427) | $(45024313) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended**<br>**January 31, 2026** | **Six months ended**<br>**January 31, 2026** | **Year ended**<br>**July 31, 2025** | **Year ended**<br>**July 31, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**One Choice 2065 Portfolio** | | | | |
| **Investor Class** | | | | |
| Sold | 453648 | $6414301 | 589489 | $7615746 |
| Issued in reinvestment of distributions | 71587 | 982168 | 21073 | 265934 |
| Redeemed | (219047) | (3116325) | (328503) | (4222083) |
|  | 306188 | 4280144 | 282059 | 3659597 |
| **I Class** |  |  |  |  |
| Sold | 103206 | 1447755 | 880957 | 11273584 |
| Issued in reinvestment of distributions | 9052 | 124104 | 41015 | 517202 |
| Redeemed | (1875312) | (26770144) | (413144) | (5312728) |
|  | (1763054) | (25198285) | 508828 | 6478058 |
| **A Class** |  |  |  |  |
| Sold | 478407 | 6834755 | 582135 | 7486192 |
| Issued in reinvestment of distributions | 82489 | 1130926 | 22349 | 281824 |
| Redeemed | (101226) | (1430918) | (189933) | (2447353) |
|  | 459670 | 6534763 | 414551 | 5320663 |
| **C Class** |  |  |  |  |
| Sold | 871 | 12256 | 1472 | 18851 |
| Issued in reinvestment of distributions | 471 | 6462 | 169 | 2127 |
| Redeemed | (361) | (5156) | (3592) | (46082) |
|  | 981 | 13562 | (1951) | (25104) |
| **R Class** |  |  |  |  |
| Sold | 812761 | 11478739 | 1563899 | 20081997 |
| Issued in reinvestment of distributions | 207070 | 2840999 | 59859 | 755422 |
| Redeemed | (522984) | (7456728) | (616626) | (7939358) |
|  | 496847 | 6863010 | 1007132 | 12898061 |
| **R6 Class** |  |  |  |  |
| Sold | 907450 | 12895145 | 1700128 | 21865545 |
| Issued in reinvestment of distributions | 182683 | 2506417 | 70849 | 894115 |
| Redeemed | (951852) | (13459331) | (964352) | (12456490) |
|  | 138281 | 1942231 | 806625 | 10303170 |
| Net increase (decrease) | (361087) | $(5564575) | 3017244 | $38634445 |

---

------

---

| | | |
|:---|:---|:---|
| | **Period ended**<br>**January 31, 2026**<sup>(1)</sup> | **Period ended**<br>**January 31, 2026**<sup>(1)</sup> |
| | **Shares** | **Amount** |
|<br>**One Choice 2070 Portfolio** | | |
| **Investor Class** | | |
| Sold | 45024 | $454086 |
| Issued in reinvestment of distributions | 201 | 1983 |
| Redeemed | (2206) | (22243) |
|  | 43019 | 433826 |
| **I Class** |  |  |
| Sold | 2500 | 25000 |
| Issued in reinvestment of distributions | 54 | 534 |
|  | 2554 | 25534 |
| **A Class** |  |  |
| Sold | 6638 | 66428 |
| Issued in reinvestment of distributions | 54 | 530 |
|  | 6692 | 66958 |
| **C Class** |  |  |
| Sold | 2501 | 25000 |
| Issued in reinvestment of distributions | 51 | 509 |
|  | 2552 | 25509 |
| **R Class** |  |  |
| Sold | 16577 | 166400 |
| Issued in reinvestment of distributions | 65 | 640 |
| Redeemed | (221) | (2236) |
|  | 16421 | 164804 |
| **R6 Class** |  |  |
| Sold | 2500 | 25000 |
| Issued in reinvestment of distributions | 54 | 537 |
|  | 2554 | 25537 |
| Net increase (decrease) | 73792 | $742168 |

---

(1)December 1, 2025 (fund inception) through January 31, 2026.

**6. Risk Factors**

The overall risk profile of a fund will be impacted by the underlying funds' investment strategies, including the investment vehicles and techniques utilized to manage each portfolio. The net asset value of a fund will go up and down based on the performance of the underlying funds in which it invests. The value of the underlying funds' shares will, in turn, fluctuate based on the performance of the securities they own and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of a 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.

**7. Federal Tax Information**

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 components of investments for federal income tax purposes were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice** <br>**In Retirement Portfolio** | **One Choice**<br>**2030 Portfolio** | **One Choice**<br>**2035 Portfolio** | **One Choice**<br>**2040 Portfolio** | **One Choice<br>2045 Portfolio** |
| Federal tax cost of investments | $2094132208 | $1038943710 | $1297188802 | $952002800 | $1016386817 |
| Gross tax appreciation of investments | $352988171 | $171458681 | $250147780 | $186393030 | $249467510 |
| Gross tax depreciation of investments | (17712361) | (10361388) | (17390358) | (12282903) | (14309277) |
| Net tax appreciation (depreciation) of investments | $335275810 | $161097293 | $232757422 | $174110127 | $235158233 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **One Choice**<br>**2050 Portfolio** | **One Choice**<br>**2055 Portfolio** | **One Choice**<br>**2060 Portfolio** | **One Choice**<br>**2065 Portfolio** | **One Choice**<br>**2070 Portfolio** |
| Federal tax cost of investments | $783431185 | $590088265 | $359651173 | $129751641 | $757581 |
| Gross tax appreciation of investments | $187656914 | $139615960 | $71312044 | $14824213 | $5457 |
| Gross tax depreciation of investments | (4916735) | (2251527) | (352403) |  | (12786) |
| Net tax appreciation (depreciation) of investments | $182740179 | $137364433 | $70959641 | $14824213 | $(7329) |

---

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

**8. Reorganization**

On March 8, 2025, the Board of Directors approved an agreement and plan of reorganization (the reorganization), whereby the net assets of One Choice<sup>®</sup> 2025 Portfolio, one fund in a series issued by the corporation, were transferred to One Choice In Retirement Portfolio in exchange for shares of One Choice In Retirement Portfolio. One Choice 2025 Portfolio had reached its most conservative planned target asset allocation and its asset mix matched that of One Choice In Retirement Portfolio. The reorganization was executed to combine two funds that had the same target asset allocations, both funds' investment objectives and strategies were substantially similar and their management fees were expected to be the same. The financial statements and performance history of One Choice In Retirement Portfolio survived after the reorganization. The reorganization was effective at the close of the NYSE on June 13, 2025.

The reorganization was accomplished by a tax-free exchange of shares. On June 13, 2025, One Choice 2025 Portfolio exchanged its shares for shares of One Choice In Retirement Portfolio as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Original Fund/Class** | &nbsp;&nbsp;**Shares Exchanged** | **New Fund/Class** | &nbsp;&nbsp;**Shares Received** |
| One Choice 2025 Portfolio - Investor Class | 37976190 | One Choice In Retirement Portfolio - Investor Class | 40816685 |
| One Choice 2025 Portfolio - I Class | 12455883 | One Choice In Retirement Portfolio - I Class | 13387543 |
| One Choice 2025 Portfolio - A Class | 10423213 | One Choice In Retirement Portfolio - A Class | 11202836 |
| One Choice 2025 Portfolio - C Class | 105003 | One Choice In Retirement Portfolio - C Class | 114595 |
| One Choice 2025 Portfolio - R Class | 11738600 | One Choice In Retirement Portfolio - R Class | 12667348 |
| One Choice 2025 Portfolio - R6 Class | 22682266 | One Choice In Retirement Portfolio - R6 Class | 21560616 |

---

The net assets of One Choice 2025 Portfolio and One Choice In Retirement Portfolio immediately before the reorganization were $1,157,481,697 and $1,558,580,298, respectively. One Choice 2025 Portfolio's unrealized appreciation of $176,177,878 was combined with that of One Choice In Retirement Portfolio. Immediately after the reorganization, the combined net assets were $2,716,061,995.

**9. Investments in Underlying Funds**

The funds do not invest in the underlying funds for the purpose of exercising management or control; however, investments by the funds within their investment strategies may represent a significant portion of the underlying funds' net assets.

------

**10. Affiliated Fund Transactions**

A summary of transactions for each underlying fund for the period ended January 31, 2026 follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning**<br>**Value** | **Purchase**<br>**Cost** | **Sales**<br>**Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending**<br>**Value** | **Ending**<br>**Shares** | **Net**<br>**Realized**<br>**Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** | **One Choice In Retirement Portfolio (Amounts in thousands)** |
| Diversified Bond Fund | $531334 | $14900 | $138126 | $20142 | $428250 | 46197 | $(12174) | $11780 |
| High Income Fund | 100269 | 3347 | 20895 | 2787 | 85508 | 9728 | (1938) | 3347 |
| Inflation-Adjusted Bond Fund | 92523 | 1759 | 20887 | 1098 | 74493 | 7021 | (483) | 1759 |
| Short Duration Fund | 219488 | 4969 | 39776 | 3074 | 187755 | 19023 | (1932) | 4969 |
| Short Duration Inflation Protection Bond Fund | 203793 | 5320 | 31233 | (2281) | 175599 | 16644 | 1333 | 5320 |
| Focused Large Cap Value Fund | 226711 | 23768 | 25176 | (7778) | 217525 | 20030 | 10695 | 23609 |
| Growth Fund | 104565 | 13412 | 3775 | (18161) | 96041 | 1595 | 11410 | 13412 |
| Heritage Fund | 48132 | 5995 | 2837 | (11116) | 40174 | 1521 | 3536 | 5995 |
| Large Cap Equity Fund | 266243 | 40514 | 41412 | (56277) | 209068 | 4304 | 35747 | 40514 |
| Mid Cap Value Fund | 81829 | 9127 | 11935 | (5909) | 73112 | 4729 | 3640 | 9127 |
| Select Fund | 69966 | 5569 | 10521 | (115) | 64899 | 470 | 888 | 5569 |
| Small Cap Dividend Fund | 26058 | 536 | 5475 | 2188 | 23307 | 2180 | (541) | 536 |
| Small Cap Growth Fund | 26226 | 1428 | 4337 | (895) | 22422 | 895 | 1543 | 1428 |
| Global Real Estate Fund | 25526 | 986 | 2491 | 834 | 24855 | 1800 | 364 | 986 |
| International Growth Fund | 121178 | 24372 | 8033 | 4496 | 142013 | 10036 | (36) | 6257 |
| International Small-Mid Cap Fund | 14791 | 1952 | 2249 | 1849 | 16343 | 1269 | 246 | 508 |
| International Value Fund | 141866 | 26891 | 21612 | 12528 | 159673 | 13909 | 2444 | 14104 |
| Emerging Markets Debt Fund | 31778 | 1172 | 7954 | 2058 | 27054 | 2833 | (706) | 1172 |
| Global Bond Fund | 385564 | 12227 | 110547 | 6839 | 294083 | 33609 | (8048) | 11958 |
| U.S. Government Money Market Fund |  | 67571 | 337 |  | 67234 | 67234 |  | 429 |
|  | $2717840 | $265815 | $509608 | $(44639) | $2429408 | 265027 | $45988 | $162779 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning**<br>**Value** | **Purchase**<br>**Cost** | **Sales**<br>**Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending**<br>**Value** | **Ending**<br>**Shares** | **Net**<br>**Realized**<br>**Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** | **One Choice 2030 Portfolio (Amounts in thousands)** |
| Diversified Bond Fund | $263546 | $11967 | $75563 | $11336 | $211286 | 22792 | $(7393) | $5780 |
| High Income Fund | 56040 | 1823 | 12774 | 1655 | 46744 | 5318 | (1159) | 1822 |
| Inflation-Adjusted Bond Fund | 58382 | 1140 | 12591 | 1121 | 48052 | 4529 | (771) | 1140 |
| Short Duration Fund | 72872 | 4483 | 13651 | 1042 | 64746 | 6560 | (661) | 1671 |
| Short Duration Inflation Protection Bond Fund | 63893 | 4713 | 10060 | (687) | 57859 | 5484 | 324 | 1758 |
| Focused Large Cap Value Fund | 119991 | 13080 | 20482 | (2742) | 109847 | 10115 | 4417 | 11906 |
| Growth Fund | 60985 | 8251 | 4101 | (11615) | 53520 | 889 | 8088 | 7428 |
| Heritage Fund | 30048 | 3607 | 3527 | (7311) | 22817 | 864 | 3089 | 3388 |
| Large Cap Equity Fund | 141319 | 21131 | 23260 | (30676) | 108514 | 2234 | 20184 | 20985 |
| Mid Cap Value Fund | 48330 | 4976 | 10080 | (3222) | 40004 | 2588 | 2083 | 4976 |
| Select Fund | 40871 | 3084 | 7963 | (81) | 35911 | 260 | 657 | 3084 |
| Small Cap Dividend Fund | 16130 | 284 | 5113 | 1468 | 12769 | 1195 | (501) | 285 |
| Small Cap Growth Fund | 16205 | 768 | 3822 | (947) | 12204 | 487 | 1414 | 768 |
| Emerging Markets Fund | 8810 | 157 | 2407 | 413 | 6973 | 415 | 1525 | 157 |
| Global Real Estate Fund | 15636 | 571 | 2386 | 402 | 14223 | 1030 | 327 | 571 |
| International Growth Fund | 66862 | 9827 | 4696 | 2547 | 74540 | 5268 | (19) | 3274 |
| International Small-Mid Cap Fund | 12510 | 480 | 1421 | 1419 | 12988 | 1008 | 298 | 398 |
| International Value Fund | 70273 | 6757 | 9131 | 5557 | 73456 | 6399 | 1828 | 6478 |
| Non-U.S. Intrinsic Value Fund | 6883 | 2836 | 1019 | 480 | 9180 | 836 | 16 | 1001 |
| Emerging Markets Debt Fund | 23233 | 793 | 6377 | 1548 | 19197 | 2010 | (552) | 793 |
| Global Bond Fund | 181103 | 8235 | 60134 | 5207 | 134411 | 15361 | (5686) | 5454 |
| U.S. Government Money Market Fund |  | 31044 | 244 |  | 30800 | 30800 |  | 196 |
|  | $1373922 | $140007 | $290802 | $(23086) | $1200041 | 126442 | $27508 | $83313 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net** <br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** | **One Choice 2035 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $10429 | $524 | $1307 | $(1714) | $7932 | 94 | $2271 | $525 |
| Focused Large Cap Value Fund | 154551 | 16611 | 22843 | (4280) | 144039 | 13263 | 6462 | 15349 |
| Growth Fund | 85542 | 11342 | 4911 | (16139) | 75834 | 1259 | 11151 | 10467 |
| Heritage Fund | 47648 | 5927 | 5109 | (11733) | 36733 | 1390 | 4996 | 5397 |
| Large Cap Equity Fund | 180779 | 27026 | 28435 | (38775) | 140595 | 2895 | 25308 | 26953 |
| Mid Cap Value Fund | 69852 | 7285 | 13779 | (4844) | 58514 | 3785 | 3223 | 7169 |
| Select Fund | 47474 | 3676 | 8273 | (87) | 42790 | 310 | 685 | 3676 |
| Small Cap Dividend Fund |  | 19340 | 667 | 1126 | 19799 | 1852 | 28 | 274 |
| Small Cap Growth Fund | 24640 | 1170 | 5617 | (1293) | 18900 | 754 | 1986 | 1170 |
| Diversified Bond Fund | 305815 | 15020 | 64604 | 10983 | 267214 | 28826 | (6459) | 6979 |
| High Income Fund | 73653 | 2505 | 13986 | 1943 | 64115 | 7294 | (1313) | 2463 |
| Inflation-Adjusted Bond Fund | 76091 | 1952 | 11214 | 1090 | 67919 | 6401 | (725) | 1599 |
| Short Duration Fund | 50544 | 2722 | 6225 | 573 | 47614 | 4824 | (313) | 1201 |
| Short Duration Inflation Protection Bond Fund | 41591 | 2661 | 4016 | (321) | 39915 | 3783 | 38 | 1203 |
| Emerging Markets Fund | 27670 | 534 | 6444 | 2566 | 24326 | 1448 | 3680 | 534 |
| Global Real Estate Fund | 23202 | 847 | 3012 | 710 | 21747 | 1575 | 382 | 847 |
| International Growth Fund | 87797 | 13079 | 3935 | 3337 | 100278 | 7087 | (51) | 4360 |
| International Small-Mid Cap Fund | 22718 | 958 | 1830 | 2927 | 24773 | 1923 | 215 | 737 |
| International Value Fund | 80550 | 8814 | 8773 | 7131 | 87722 | 7641 | 1451 | 7558 |
| Non-U.S. Intrinsic Value Fund | 19400 | 4327 | 1522 | 1434 | 23639 | 2153 | (4) | 2501 |
| Emerging Markets Debt Fund | 36161 | 1293 | 7954 | 2252 | 31752 | 3325 | (690) | 1293 |
| Global Bond Fund | 202224 | 8584 | 62703 | 6148 | 154253 | 17629 | (6762) | 6262 |
| U.S. Government Money Market Fund |  | 29543 |  |  | 29543 | 29543 |  | 188 |
| Small Cap Value Fund | 24577 | 102 | 18538 | (6141) |  |  | 6510 | 102 |
|  | $1692908 | $185842 | $305697 | $(43107) | $1529946 | 149054 | $52069 | $108807 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** | **One Choice 2040 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $17826 | $968 | $2058 | $(2256) | $14480 | 172 | $3140 | $968 |
| Focused Large Cap Value Fund | 122737 | 15230 | 24679 | (2681) | 110607 | 10185 | 4528 | 11803 |
| Growth Fund | 72297 | 10563 | 6851 | (13853) | 62156 | 1032 | 9981 | 8509 |
| Heritage Fund | 46645 | 6495 | 7865 | (11081) | 34194 | 1294 | 4824 | 5081 |
| Large Cap Equity Fund | 140579 | 21344 | 22643 | (30130) | 109150 | 2247 | 19662 | 20925 |
| Mid Cap Value Fund | 61519 | 6374 | 15155 | (3887) | 48851 | 3160 | 2620 | 6004 |
| Select Fund | 30702 | 2318 | 5932 | (61) | 27027 | 196 | 473 | 2313 |
| Small Cap Growth Fund | 22582 | 1001 | 6341 | (1424) | 15818 | 631 | 2108 | 1001 |
| Small Cap Value Fund | 22381 | 2227 | 6923 | (1095) | 16590 | 1739 | 795 | 1982 |
| Diversified Bond Fund | 220415 | 11925 | 49874 | 8257 | 190723 | 20574 | (5009) | 5003 |
| High Income Fund | 54551 | 1823 | 9649 | 1342 | 48067 | 5468 | (865) | 1823 |
| Inflation-Adjusted Bond Fund | 49396 | 1462 | 6623 | 634 | 44869 | 4229 | (415) | 1056 |
| Short Duration Fund | 16688 | 1063 | 1566 | 175 | 16360 | 1658 | (90) | 404 |
| Short Duration Inflation Protection Bond Fund | 13631 | 1024 | 1089 | (64) | 13502 | 1280 | (38) | 407 |
| Emerging Markets Fund | 37813 | 725 | 10264 | 3856 | 32130 | 1913 | 4562 | 725 |
| Global Real Estate Fund | 20895 | 784 | 3354 | 582 | 18907 | 1369 | 389 | 746 |
| International Growth Fund | 69695 | 9015 | 4132 | 2675 | 77253 | 5460 | 18 | 3382 |
| International Small-Mid Cap Fund | 22184 | 760 | 1861 | 2785 | 23868 | 1853 | 296 | 725 |
| International Value Fund | 54105 | 6463 | 6341 | 4918 | 59145 | 5152 | 871 | 5116 |
| Non-U.S. Intrinsic Value Fund | 23701 | 2795 | 2506 | 1533 | 25523 | 2324 | 207 | 2749 |
| Emerging Markets Debt Fund | 29745 | 1060 | 5994 | 1808 | 26619 | 2787 | (518) | 1060 |
| Global Bond Fund | 115744 | 6702 | 29382 | 2697 | 95761 | 10944 | (3160) | 3762 |
| U.S. Government Money Market Fund |  | 14513 |  |  | 14513 | 14513 |  | 92 |
|  | $1265831 | $126634 | $231082 | $(35270) | $1126113 | 100180 | $44379 | $85636 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** | **One Choice 2045 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $32222 | $1791 | $3548 | $(3666) | $26799 | 317 | $5281 | $1792 |
| Focused Large Cap Value Fund | 141958 | 15039 | 24786 | (3363) | 128848 | 11865 | 5357 | 13778 |
| Growth Fund | 86168 | 11341 | 6713 | (17160) | 73636 | 1223 | 12437 | 10279 |
| Heritage Fund | 66311 | 7810 | 10780 | (16134) | 47207 | 1787 | 7526 | 6959 |
| Large Cap Equity Fund | 156788 | 25545 | 20663 | (30595) | 131075 | 2699 | 17425 | 25176 |
| Mid Cap Value Fund | 78139 | 7384 | 20183 | (5225) | 60115 | 3888 | 3733 | 7375 |
| Select Fund | 25861 | 1974 | 4785 | (50) | 23000 | 167 | 390 | 1974 |
| Small Cap Growth Fund | 29730 | 1192 | 9516 | (2280) | 19126 | 764 | 3262 | 1192 |
| Small Cap Value Fund | 29383 | 2374 | 10668 | (1031) | 20058 | 2103 | 747 | 2374 |
| Emerging Markets Fund | 65928 | 1284 | 16963 | 7455 | 57704 | 3435 | 7471 | 1284 |
| Global Real Estate Fund | 27205 | 967 | 4129 | 849 | 24892 | 1802 | 426 | 967 |
| International Growth Fund | 77696 | 10798 | 3301 | 2957 | 88150 | 6230 | (65) | 3839 |
| International Small-Mid Cap Fund | 30080 | 1314 | 2148 | 3966 | 33212 | 2579 | 214 | 986 |
| International Value Fund | 52146 | 7964 | 4594 | 5027 | 60543 | 5274 | 560 | 5143 |
| Non-U.S. Intrinsic Value Fund | 34586 | 3914 | 3803 | 2226 | 36923 | 3363 | 322 | 3914 |
| Diversified Bond Fund | 230090 | 9089 | 45681 | 7996 | 201494 | 21736 | (4610) | 5272 |
| High Income Fund | 57494 | 2097 | 9688 | 1399 | 51302 | 5836 | (916) | 1952 |
| Inflation-Adjusted Bond Fund | 45112 | 1934 | 5751 | 550 | 41845 | 3944 | (367) | 985 |
| Short Duration Fund | 424 | 2062 |  | 2 | 2488 | 252 |  | 30 |
| Short Duration Inflation Protection Bond Fund | 147 | 2011 |  | (47) | 2111 | 200 |  | 64 |
| Emerging Markets Debt Fund | 33826 | 1247 | 6477 | 2050 | 30646 | 3209 | (593) | 1247 |
| Global Bond Fund | 93353 | 5230 | 19146 | 1621 | 81058 | 9264 | (2080) | 3162 |
| U.S. Government Money Market Fund |  | 9313 |  |  | 9313 | 9313 |  | 59 |
|  | $1394647 | $133674 | $233323 | $(43453) | $1251545 | 101250 | $56520 | $99803 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** | **One Choice 2050 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $36910 | $2070 | $4151 | $(4359) | $30470 | 361 | $6186 | $2037 |
| Focused Large Cap Value Fund | 121645 | 14795 | 27021 | (1650) | 107769 | 9924 | 3447 | 11504 |
| Growth Fund | 73839 | 10792 | 7950 | (13972) | 62709 | 1041 | 10097 | 8618 |
| Heritage Fund | 57922 | 9674 | 12557 | (14182) | 40857 | 1546 | 6878 | 5986 |
| Large Cap Equity Fund | 133603 | 21557 | 19381 | (25372) | 110407 | 2273 | 14396 | 21121 |
| Mid Cap Value Fund | 67359 | 6760 | 20466 | (3226) | 50427 | 3262 | 2026 | 6194 |
| Select Fund | 12624 | 1090 | 2391 | (33) | 11290 | 82 | 186 | 964 |
| Small Cap Growth Fund | 25692 | 1083 | 8882 | (2112) | 15781 | 630 | 2992 | 991 |
| Small Cap Value Fund | 25481 | 2190 | 10106 | (1014) | 16551 | 1735 | 858 | 1971 |
| Emerging Markets Fund | 58501 | 1445 | 15755 | 7173 | 51364 | 3057 | 6162 | 1152 |
| Global Real Estate Fund | 23434 | 1067 | 3981 | 658 | 21178 | 1534 | 438 | 828 |
| International Growth Fund | 66417 | 7120 | 2979 | 2524 | 73082 | 5165 | 12 | 3185 |
| International Small-Mid Cap Fund | 25830 | 1009 | 2036 | 3316 | 28119 | 2183 | 263 | 843 |
| International Value Fund | 40715 | 6148 | 4603 | 3920 | 46180 | 4023 | 484 | 3942 |
| Non-U.S. Intrinsic Value Fund | 32796 | 3635 | 4443 | 2017 | 34005 | 3097 | 380 | 3635 |
| Diversified Bond Fund | 148364 | 11930 | 34211 | 5418 | 131501 | 14186 | (3223) | 3380 |
| High Income Fund | 37093 | 1582 | 6454 | 922 | 33143 | 3771 | (596) | 1246 |
| Inflation-Adjusted Bond Fund | 28991 | 1495 | 4569 | 437 | 26354 | 2484 | (304) | 617 |
| Emerging Markets Debt Fund | 21959 | 795 | 4119 | 1315 | 19950 | 2089 | (368) | 795 |
| Global Bond Fund | 58837 | 3633 | 13972 | 1279 | 49777 | 5689 | (1528) | 1929 |
| U.S. Government Money Market Fund |  | 5257 |  |  | 5257 | 5257 |  | 33 |
|  | $1098012 | $115127 | $210027 | $(36941) | $966171 | 73389 | $48786 | $80971 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** | **One Choice 2055 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $37807 | $2481 | $4457 | $(4349) | $31482 | 373 | $6241 | $2090 |
| Focused Large Cap Value Fund | 99331 | 13417 | 23678 | (992) | 88078 | 8110 | 2482 | 9342 |
| Growth Fund | 60350 | 9027 | 6919 | (10722) | 51736 | 859 | 7640 | 6988 |
| Heritage Fund | 47332 | 7709 | 11163 | (10488) | 33390 | 1264 | 4516 | 4882 |
| Large Cap Equity Fund | 109209 | 18680 | 18582 | (18862) | 90445 | 1862 | 9936 | 17215 |
| Mid Cap Value Fund | 55081 | 5746 | 17519 | (2118) | 41190 | 2664 | 1141 | 5049 |
| Select Fund | 2100 | 549 |  | (23) | 2626 | 19 |  | 225 |
| Small Cap Growth Fund | 20988 | 849 | 7238 | (1734) | 12865 | 514 | 2457 | 804 |
| Small Cap Value Fund | 20716 | 2053 | 8541 | (735) | 13493 | 1414 | 622 | 1600 |
| Emerging Markets Fund | 47906 | 1135 | 12969 | 6225 | 42297 | 2518 | 4662 | 938 |
| Global Real Estate Fund | 19242 | 1037 | 3507 | 498 | 17270 | 1251 | 397 | 677 |
| International Growth Fund | 54728 | 5631 | 2729 | 2080 | 59710 | 4220 | (10) | 2596 |
| International Small-Mid Cap Fund | 20792 | 883 | 1430 | 2763 | 23008 | 1786 | 151 | 686 |
| International Value Fund | 30504 | 5181 | 3155 | 3134 | 35664 | 3107 | 196 | 3021 |
| Non-U.S. Intrinsic Value Fund | 29297 | 3204 | 3987 | 1632 | 30146 | 2746 | 497 | 3203 |
| Diversified Bond Fund | 85808 | 9709 | 22585 | 3300 | 76232 | 8224 | (2022) | 1963 |
| High Income Fund | 21490 | 1485 | 4430 | 595 | 19140 | 2177 | (412) | 723 |
| Inflation-Adjusted Bond Fund | 16782 | 1253 | 3069 | 297 | 15263 | 1439 | (222) | 358 |
| Emerging Markets Debt Fund | 12776 | 723 | 2788 | 798 | 11509 | 1205 | (251) | 465 |
| Global Bond Fund | 34106 | 2461 | 8556 | 826 | 28837 | 3296 | (975) | 1124 |
| U.S. Government Money Market Fund |  | 3072 |  |  | 3072 | 3072 |  | 20 |
|  | $826345 | $96285 | $167302 | $(27875) | $727453 | 52120 | $37046 | $63969 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** | **One Choice 2060 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $23887 | $2305 | $3181 | $(1907) | $21104 | 250 | $3056 | $1398 |
| Focused Large Cap Value Fund | 59219 | 9368 | 14077 | (210) | 54300 | 5000 | 1075 | 5727 |
| Growth Fund | 35959 | 6582 | 5211 | (5292) | 32038 | 532 | 3283 | 4319 |
| Heritage Fund | 28175 | 5157 | 6819 | (5859) | 20654 | 782 | 2184 | 3020 |
| Large Cap Equity Fund | 65107 | 12246 | 11209 | (10041) | 56103 | 1155 | 4379 | 10656 |
| Mid Cap Value Fund | 32716 | 4058 | 10080 | (1155) | 25539 | 1652 | 539 | 3091 |
| Small Cap Growth Fund | 12339 | 572 | 4004 | (901) | 8006 | 320 | 1304 | 498 |
| Small Cap Value Fund | 12419 | 1385 | 5013 | (410) | 8381 | 879 | 336 | 983 |
| Emerging Markets Fund | 28401 | 1012 | 8038 | 4147 | 25522 | 1519 | 2426 | 578 |
| Global Real Estate Fund | 11594 | 713 | 2039 | 402 | 10670 | 773 | 131 | 418 |
| International Growth Fund | 32566 | 4935 | 1690 | 1253 | 37064 | 2619 | (15) | 1602 |
| International Small-Mid Cap Fund | 12454 | 932 | 1101 | 1709 | 13994 | 1086 | 55 | 424 |
| International Value Fund | 17631 | 4022 | 2560 | 1860 | 20953 | 1825 | 113 | 1798 |
| Non-U.S. Intrinsic Value Fund | 18003 | 2291 | 2540 | 1041 | 18795 | 1712 | 290 | 2031 |
| Diversified Bond Fund | 42529 | 4378 | 9632 | 1162 | 38437 | 4146 | (532) | 977 |
| High Income Fund | 10591 | 459 | 1636 | 210 | 9624 | 1095 | (117) | 359 |
| Inflation-Adjusted Bond Fund | 8416 | 310 | 1243 | 178 | 7661 | 722 | (140) | 179 |
| Emerging Markets Debt Fund | 6269 | 231 | 1089 | 369 | 5780 | 605 | (98) | 231 |
| Global Bond Fund | 17010 | 1010 | 3974 | 413 | 14459 | 1652 | (487) | 558 |
| U.S. Government Money Market Fund |  | 1527 |  |  | 1527 | 1527 |  | 10 |
|  | $475285 | $63493 | $95136 | $(13031) | $430611 | 29851 | $17782 | $38857 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** | **One Choice 2065 Portfolio (Amounts in thousands)** |
| Focused Dynamic Growth Fund | $7510 | $1192 | $1445 | $9 | $7266 | 86 | $348 | $464 |
| Focused Large Cap Value Fund | 18497 | 4921 | 4809 | 166 | 18775 | 1729 | 66 | 1942 |
| Growth Fund | 11325 | 3116 | 2361 | (1043) | 11037 | 183 | 313 | 1453 |
| Heritage Fund | 8846 | 2519 | 2760 | (1491) | 7114 | 269 | 254 | 1016 |
| Large Cap Equity Fund | 20385 | 6001 | 4822 | (2243) | 19321 | 398 | 261 | 3586 |
| Mid Cap Value Fund | 10186 | 2409 | 3590 | (224) | 8781 | 568 | (10) | 1046 |
| Small Cap Growth Fund | 3847 | 528 | 1584 | (72) | 2719 | 109 | 200 | 168 |
| Small Cap Value Fund | 3866 | 825 | 1829 | (10) | 2852 | 299 | (19) | 333 |
| Emerging Markets Fund | 8899 | 979 | 2436 | 1675 | 9117 | 543 | 488 | 195 |
| Global Real Estate Fund | 3611 | 647 | 794 | 189 | 3653 | 265 | (18) | 142 |
| International Growth Fund | 10305 | 3119 | 1062 | 393 | 12755 | 901 | 12 | 538 |
| International Small-Mid Cap Fund | 3897 | 678 | 286 | 594 | 4883 | 379 | (9) | 143 |
| International Value Fund | 5355 | 1803 | 547 | 586 | 7197 | 627 | 37 | 599 |
| Non-U.S. Intrinsic Value Fund | 5722 | 1319 | 683 | 419 | 6777 | 617 | 21 | 705 |
| Diversified Bond Fund | 11163 | 2562 | 2871 | 191 | 11045 | 1192 | (28) | 268 |
| High Income Fund | 2770 | 540 | 566 | 42 | 2786 | 317 | (17) | 98 |
| Inflation-Adjusted Bond Fund | 2199 | 432 | 460 | 49 | 2220 | 209 | (41) | 51 |
| Emerging Markets Debt Fund | 1644 | 275 | 329 | 84 | 1674 | 175 | (11) | 62 |
| Global Bond Fund | 4434 | 922 | 1223 | 29 | 4162 | 476 | (51) | 153 |
| U.S. Government Money Market Fund |  | 442 |  |  | 442 | 442 |  | 3 |
|  | $144461 | $35229 | $34457 | $(657) | $144576 | 9784 | $1796 | $12965 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund/Underlying Fund**<sup>(1)</sup> | **Beginning<br>Value** | **Purchase<br>Cost** | **Sales<br>Cost** | **Change in Net**<br>**Unrealized Appreciation**<br>**(Depreciation)** | **Ending<br>Value** | **Ending<br>Shares** | **Net Realized<br>Gain (Loss)** | **Distributions**<br>**Received**<sup>(2)</sup> |
| **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** | **One Choice 2070 Portfolio**<sup>(3)</sup> **(Amounts in thousands)** |
| Focused Dynamic Growth Fund |  | $39 |  | $(1) | $38 |  |  | $1 |
| Focused Large Cap Value Fund |  | 99 | $1 |  | 98 | 9 |  | 3 |
| Growth Fund |  | 61 |  | (3) | 58 | 1 |  | 2 |
| Heritage Fund |  | 40 |  | (2) | 38 | 1 |  | 2 |
| Large Cap Equity Fund |  | 107 | 1 | (5) | 101 | 2 |  | 6 |
| Mid Cap Value Fund |  | 49 | 1 | (2) | 46 | 3 |  | 2 |
| Small Cap Growth Fund |  | 15 |  |  | 15 | 1 |  |  |
| Small Cap Value Fund |  | 15 |  |  | 15 | 2 |  | 1 |
| Emerging Markets Fund |  | 44 | 1 | 3 | 46 | 3 |  | 1 |
| Global Real Estate Fund |  | 19 |  |  | 19 | 1 |  |  |
| International Growth Fund |  | 68 | 1 |  | 67 | 5 |  | 1 |
| International Small-Mid Cap Fund |  | 24 |  | 1 | 25 | 2 |  |  |
| International Value Fund |  | 37 | 1 | 1 | 37 | 3 |  | 1 |
| Non-U.S. Intrinsic Value Fund |  | 35 | 1 | 1 | 35 | 3 |  | 1 |
| Diversified Bond Fund |  | 57 | 2 |  | 55 | 6 |  |  |
| High Income Fund |  | 14 |  |  | 14 | 2 |  |  |
| Inflation-Adjusted Bond Fund |  | 12 | 1 |  | 11 | 1 |  |  |
| Emerging Markets Debt Fund |  | 9 |  |  | 9 | 1 |  |  |
| Global Bond Fund |  | 21 |  |  | 21 | 2 |  |  |
| U.S. Government Money Market Fund |  | 2 |  |  | 2 | 2 |  |  |
|  |  | $767 | $10 | $(7) | $750 | 50 |  | $21 |

---

(1)Underlying fund investments represent G Class.

(2)Distributions received includes distributions from net investment income and from capital gains, if any.

(3)December 1, 2025 (fund inception) through January 31, 2026.

------

Financial Highlights

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net <br>Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before<br>expense <br>waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $12.58 | 0.28 | 0.48 | 0.76 | (0.32) | (0.28) | (0.60) | $12.74 | 6.12% | 0.74% | 0.78% | 4.27% | 4.23% | 10% | $1266814 |
| 2025 | $12.57 | 0.37 | 0.54 | 0.91 | (0.29) | (0.61) | (0.90) | $12.58 | 7.49% | 0.74% | 0.78% | 2.98% | 2.94% | 14% | $1262070 |
| 2024 | $12.02 | 0.34 | 0.77 | 1.11 | (0.32) | (0.24) | (0.56) | $12.57 | 9.50% | 0.74% | 0.79% | 2.87% | 2.82% | 14% | $787839 |
| 2023 | $12.21 | 0.32 | 0.06 | 0.38 | (0.30) | (0.27) | (0.57) | $12.02 | 3.44% | 0.74% | 0.78% | 2.77% | 2.73% | 16% | $748717 |
| 2022 | $14.39 | 0.58 | (1.65) | (1.07) | (0.56) | (0.55) | (1.11) | $12.21 | (8.11)% | 0.74% | 0.77% | 4.31% | 4.28% | 18% | $826119 |
| 2021 | $13.15 | 0.18 | 1.78 | 1.96 | (0.16) | (0.56) | (0.72) | $14.39 | 15.64% | 0.74% | 0.77% | 1.34% | 1.31% | 29% | $991945 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $12.58 | 0.21 | 0.56 | 0.77 | (0.33) | (0.28) | (0.61) | $12.74 | 6.24% | 0.54% | 0.60% | 4.47% | 4.41% | 10% | $93721 |
| 2025 | $12.57 | 0.40 | 0.54 | 0.94 | (0.32) | (0.61) | (0.93) | $12.58 | 7.69% | 0.54% | 0.60% | 3.18% | 3.12% | 14% | $339044 |
| 2024 | $12.02 | 0.37 | 0.76 | 1.13 | (0.34) | (0.24) | (0.58) | $12.57 | 9.72% | 0.54% | 0.60% | 3.07% | 3.01% | 14% | $194676 |
| 2023 | $12.21 | 0.35 | 0.05 | 0.40 | (0.32) | (0.27) | (0.59) | $12.02 | 3.64% | 0.54% | 0.59% | 2.97% | 2.92% | 16% | $237898 |
| 2022 | $14.39 | 0.62 | (1.66) | (1.04) | (0.59) | (0.55) | (1.14) | $12.21 | (7.92)% | 0.54% | 0.58% | 4.51% | 4.47% | 18% | $306979 |
| 2021 | $13.15 | 0.21 | 1.78 | 1.99 | (0.19) | (0.56) | (0.75) | $14.39 | 15.78% | 0.54% | 0.59% | 1.54% | 1.49% | 29% | $537817 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $12.58 | 0.27 | 0.47 | 0.74 | (0.30) | (0.28) | (0.58) | $12.74 | 5.97% | 0.99% | 1.03% | 4.02% | 3.98% | 10% | $387923 |
| 2025 | $12.57 | 0.34 | 0.54 | 0.88 | (0.26) | (0.61) | (0.87) | $12.58 | 7.23% | 0.99% | 1.03% | 2.73% | 2.69% | 14% | $368479 |
| 2024 | $12.02 | 0.32 | 0.76 | 1.08 | (0.29) | (0.24) | (0.53) | $12.57 | 9.23% | 0.99% | 1.04% | 2.62% | 2.57% | 14% | $212507 |
| 2023 | $12.21 | 0.29 | 0.06 | 0.35 | (0.27) | (0.27) | (0.54) | $12.02 | 3.18% | 0.99% | 1.03% | 2.52% | 2.48% | 16% | $190934 |
| 2022 | $14.39 | 0.54 | (1.65) | (1.11) | (0.52) | (0.55) | (1.07) | $12.21 | (8.34)% | 0.99% | 1.02% | 4.06% | 4.03% | 18% | $202196 |
| 2021 | $13.15 | 0.15 | 1.78 | 1.93 | (0.13) | (0.56) | (0.69) | $14.39 | 15.28% | 0.99% | 1.02% | 1.09% | 1.06% | 29% | $267135 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $12.41 | 0.21 | 0.47 | 0.68 | (0.24) | (0.28) | (0.52) | $12.57 | 5.60% | 1.74% | 1.78% | 3.27% | 3.23% | 10% | $2342 |
| 2025 | $12.42 | 0.25 | 0.53 | 0.78 | (0.18) | (0.61) | (0.79) | $12.41 | 6.44% | 1.74% | 1.78% | 1.98% | 1.94% | 14% | $2541 |
| 2024 | $11.88 | 0.22 | 0.76 | 0.98 | (0.20) | (0.24) | (0.44) | $12.42 | 8.43% | 1.74% | 1.79% | 1.87% | 1.82% | 14% | $1353 |
| 2023 | $12.07 | 0.20 | 0.06 | 0.26 | (0.18) | (0.27) | (0.45) | $11.88 | 2.44% | 1.74% | 1.78% | 1.77% | 1.73% | 16% | $1962 |
| 2022 | $14.25 | 0.46 | (1.65) | (1.19) | (0.44) | (0.55) | (0.99) | $12.07 | (9.03)% | 1.74% | 1.77% | 3.31% | 3.28% | 18% | $2664 |
| 2021 | $13.08 | 0.06 | 1.75 | 1.81 | (0.08) | (0.56) | (0.64) | $14.25 | 14.40% | 1.74% | 1.77% | 0.34% | 0.31% | 29% | $4636 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net <br>Asset <br>Value, <br>End <br>of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) <br>(before<br>expense <br>waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | **One Choice In Retirement Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $12.54 | 0.25 | 0.47 | 0.72 | (0.28) | (0.28) | (0.56) | $12.70 | 5.84% | 1.24% | 1.28% | 3.77% | 3.73% | 10% | $298921 |
| 2025 | $12.53 | 0.32 | 0.53 | 0.85 | (0.23) | (0.61) | (0.84) | $12.54 | 6.99% | 1.24% | 1.28% | 2.48% | 2.44% | 14% | $302024 |
| 2024 | $11.98 | 0.28 | 0.77 | 1.05 | (0.26) | (0.24) | (0.50) | $12.53 | 8.99% | 1.24% | 1.29% | 2.37% | 2.32% | 14% | $227675 |
| 2023 | $12.17 | 0.26 | 0.06 | 0.32 | (0.24) | (0.27) | (0.51) | $11.98 | 2.93% | 1.24% | 1.28% | 2.27% | 2.23% | 16% | $230485 |
| 2022 | $14.35 | 0.51 | (1.65) | (1.14) | (0.49) | (0.55) | (1.04) | $12.17 | (8.60)% | 1.24% | 1.27% | 3.81% | 3.78% | 18% | $229286 |
| 2021 | $13.13 | 0.12 | 1.77 | 1.89 | (0.11) | (0.56) | (0.67) | $14.35 | 15.00% | 1.24% | 1.27% | 0.84% | 0.81% | 29% | $268946 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $9.31 | 0.22 | 0.35 | 0.57 | (0.34) | (0.28) | (0.62) | $9.26 | 6.30% | 0.39% | 0.49% | 4.62% | 4.52% | 10% | $379687 |
| 2025 | $9.54 | 0.32 | 0.39 | 0.71 | (0.33) | (0.61) | (0.94) | $9.31 | 7.83% | 0.39% | 0.49% | 3.33% | 3.23% | 14% | $443682 |
| 2024 | $9.26 | 0.30 | 0.58 | 0.88 | (0.36) | (0.24) | (0.60) | $9.54 | 9.92% | 0.39% | 0.49% | 3.22% | 3.12% | 14% | $320081 |
| 2023 | $9.55 | 0.28 | 0.04 | 0.32 | (0.34) | (0.27) | (0.61) | $9.26 | 3.81% | 0.39% | 0.49% | 3.12% | 3.02% | 16% | $432925 |
| 2022 | $11.50 | 0.51 | (1.30) | (0.79) | (0.61) | (0.55) | (1.16) | $9.55 | (7.75)% | 0.39% | 0.48% | 4.66% | 4.57% | 18% | $466333 |
| 2021 | $10.66 | 0.18 | 1.43 | 1.61 | (0.21) | (0.56) | (0.77) | $11.50 | 15.94% | 0.39% | 0.50% | 1.69% | 1.58% | 29% | $608763 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $13.14 | 0.29 | 0.54 | 0.83 | (0.40) | (1.14) | (1.54) | $12.43 | 6.53% | 0.78% | 0.80% | 4.17% | 4.15% | 11% | $381409 |
| 2025 | $12.78 | 0.35 | 0.61 | 0.96 | (0.34) | (0.26) | (0.60) | $13.14 | 7.79% | 0.78% | 0.80% | 2.75% | 2.73% | 12% | $365568 |
| 2024 | $11.96 | 0.33 | 0.83 | 1.16 | (0.28) | (0.06) | (0.34) | $12.78 | 9.88% | 0.78% | 0.81% | 2.76% | 2.73% | 15% | $392478 |
| 2023 | $12.11 | 0.30 | 0.17 | 0.47 | (0.29) | (0.33) | (0.62) | $11.96 | 4.31% | 0.78% | 0.81% | 2.58% | 2.55% | 17% | $381503 |
| 2022 | $14.44 | 0.60 | (1.83) | (1.23) | (0.53) | (0.57) | (1.10) | $12.11 | (9.35)% | 0.78% | 0.81% | 4.53% | 4.50% | 17% | $428278 |
| 2021 | $12.89 | 0.18 | 2.15 | 2.33 | (0.15) | (0.63) | (0.78) | $14.44 | 18.62% | 0.78% | 0.82% | 1.25% | 1.21% | 19% | $491652 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.14 | 0.20 | 0.65 | 0.85 | (0.43) | (1.14) | (1.57) | $12.42 | 6.67% | 0.58% | 0.62% | 4.37% | 4.33% | 11% | $63228 |
| 2025 | $12.78 | 0.37 | 0.61 | 0.98 | (0.36) | (0.26) | (0.62) | $13.14 | 8.01% | 0.58% | 0.62% | 2.95% | 2.91% | 12% | $241818 |
| 2024 | $11.96 | 0.36 | 0.82 | 1.18 | (0.30) | (0.06) | (0.36) | $12.78 | 10.10% | 0.58% | 0.62% | 2.96% | 2.92% | 15% | $256638 |
| 2023 | $12.11 | 0.33 | 0.16 | 0.49 | (0.31) | (0.33) | (0.64) | $11.96 | 4.53% | 0.58% | 0.62% | 2.78% | 2.74% | 17% | $284715 |
| 2022 | $14.45 | 0.65 | (1.86) | (1.21) | (0.56) | (0.57) | (1.13) | $12.11 | (9.23)% | 0.58% | 0.62% | 4.73% | 4.69% | 17% | $348341 |
| 2021 | $12.89 | 0.20 | 2.17 | 2.37 | (0.18) | (0.63) | (0.81) | $14.45 | 18.94% | 0.58% | 0.63% | 1.45% | 1.40% | 19% | $582440 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.10 | 0.28 | 0.53 | 0.81 | (0.36) | (1.14) | (1.50) | $12.41 | 6.44% | 1.03% | 1.05% | 3.92% | 3.90% | 11% | $194755 |
| 2025 | $12.74 | 0.33 | 0.60 | 0.93 | (0.31) | (0.26) | (0.57) | $13.10 | 7.54% | 1.03% | 1.05% | 2.50% | 2.48% | 12% | $176690 |
| 2024 | $11.92 | 0.30 | 0.83 | 1.13 | (0.25) | (0.06) | (0.31) | $12.74 | 9.63% | 1.03% | 1.06% | 2.51% | 2.48% | 15% | $182810 |
| 2023 | $12.08 | 0.27 | 0.16 | 0.43 | (0.26) | (0.33) | (0.59) | $11.92 | 3.97% | 1.03% | 1.06% | 2.33% | 2.30% | 17% | $151849 |
| 2022 | $14.40 | 0.57 | (1.82) | (1.25) | (0.50) | (0.57) | (1.07) | $12.08 | (9.54)% | 1.03% | 1.06% | 4.28% | 4.25% | 17% | $159676 |
| 2021 | $12.85 | 0.14 | 2.16 | 2.30 | (0.12) | (0.63) | (0.75) | $14.40 | 18.37% | 1.03% | 1.07% | 1.00% | 0.96% | 19% | $223936 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.09 | 0.23 | 0.53 | 0.76 | (0.26) | (1.14) | (1.40) | $12.45 | 6.01% | 1.78% | 1.80% | 3.17% | 3.15% | 11% | $1340 |
| 2025 | $12.73 | 0.22 | 0.61 | 0.83 | (0.21) | (0.26) | (0.47) | $13.09 | 6.72% | 1.78% | 1.80% | 1.75% | 1.73% | 12% | $1308 |
| 2024 | $11.91 | 0.21 | 0.83 | 1.04 | (0.16) | (0.06) | (0.22) | $12.73 | 8.81% | 1.78% | 1.81% | 1.76% | 1.73% | 15% | $1705 |
| 2023 | $12.06 | 0.18 | 0.17 | 0.35 | (0.17) | (0.33) | (0.50) | $11.91 | 3.25% | 1.78% | 1.81% | 1.58% | 1.55% | 17% | $2085 |
| 2022 | $14.38 | 0.50 | (1.87) | (1.37) | (0.38) | (0.57) | (0.95) | $12.06 | (10.27)% | 1.78% | 1.81% | 3.53% | 3.50% | 17% | $2244 |
| 2021 | $12.83 | 0.04 | 2.15 | 2.19 | (0.01) | (0.63) | (0.64) | $14.38 | 17.48% | 1.78% | 1.82% | 0.25% | 0.21% | 19% | $3547 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | **One Choice 2030 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $13.09 | 0.25 | 0.55 | 0.80 | (0.33) | (1.14) | (1.47) | $12.42 | 6.32% | 1.28% | 1.30% | 3.67% | 3.65% | 11% | $262516 |
| 2025 | $12.74 | 0.29 | 0.59 | 0.88 | (0.27) | (0.26) | (0.53) | $13.09 | 7.18% | 1.28% | 1.30% | 2.25% | 2.23% | 12% | $258371 |
| 2024 | $11.91 | 0.27 | 0.84 | 1.11 | (0.22) | (0.06) | (0.28) | $12.74 | 9.45% | 1.28% | 1.31% | 2.26% | 2.23% | 15% | $348653 |
| 2023 | $12.07 | 0.24 | 0.16 | 0.40 | (0.23) | (0.33) | (0.56) | $11.91 | 3.70% | 1.28% | 1.31% | 2.08% | 2.05% | 17% | $327843 |
| 2022 | $14.39 | 0.53 | (1.82) | (1.29) | (0.46) | (0.57) | (1.03) | $12.07 | (9.79)% | 1.28% | 1.31% | 4.03% | 4.00% | 17% | $289067 |
| 2021 | $12.84 | 0.10 | 2.16 | 2.26 | (0.08) | (0.63) | (0.71) | $14.39 | 18.08% | 1.28% | 1.32% | 0.75% | 0.71% | 19% | $300569 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $11.60 | 0.27 | 0.48 | 0.75 | (0.45) | (1.14) | (1.59) | $10.76 | 6.70% | 0.43% | 0.50% | 4.52% | 4.45% | 11% | $296793 |
| 2025 | $11.36 | 0.35 | 0.53 | 0.88 | (0.38) | (0.26) | (0.64) | $11.60 | 8.15% | 0.43% | 0.50% | 3.10% | 3.03% | 12% | $330166 |
| 2024 | $10.67 | 0.33 | 0.74 | 1.07 | (0.32) | (0.06) | (0.38) | $11.36 | 10.29% | 0.43% | 0.51% | 3.11% | 3.03% | 15% | $501578 |
| 2023 | $10.88 | 0.30 | 0.15 | 0.45 | (0.33) | (0.33) | (0.66) | $10.67 | 4.67% | 0.43% | 0.52% | 2.93% | 2.84% | 17% | $586786 |
| 2022 | $13.09 | 0.62 | (1.68) | (1.06) | (0.58) | (0.57) | (1.15) | $10.88 | (9.03)% | 0.43% | 0.51% | 4.88% | 4.80% | 17% | $562783 |
| 2021 | $11.75 | 0.20 | 1.97 | 2.17 | (0.20) | (0.63) | (0.83) | $13.09 | 19.11% | 0.43% | 0.53% | 1.60% | 1.50% | 19% | $622491 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $16.97 | 0.37 | 0.80 | 1.17 | (0.44) | (1.33) | (1.77) | $16.37 | 7.13% | 0.81% | 0.83% | 4.12% | 4.10% | 12% | $598202 |
| 2025 | $16.40 | 0.43 | 0.87 | 1.30 | (0.37) | (0.36) | (0.73) | $16.97 | 8.23% | 0.81% | 0.83% | 2.63% | 2.61% | 10% | $566966 |
| 2024 | $15.26 | 0.40 | 1.15 | 1.55 | (0.30) | (0.11) | (0.41) | $16.40 | 10.37% | 0.81% | 0.84% | 2.63% | 2.60% | 15% | $580242 |
| 2023 | $15.30 | 0.35 | 0.34 | 0.69 | (0.30) | (0.43) | (0.73) | $15.26 | 5.05% | 0.82% | 0.85% | 2.40% | 2.37% | 15% | $572770 |
| 2022 | $18.29 | 0.77 | (2.47) | (1.70) | (0.62) | (0.67) | (1.29) | $15.30 | (10.19)% | 0.81% | 0.84% | 4.58% | 4.55% | 17% | $626308 |
| 2021 | $16.09 | 0.21 | 3.04 | 3.25 | (0.17) | (0.88) | (1.05) | $18.29 | 20.75% | 0.81% | 0.85% | 1.19% | 1.15% | 17% | $743664 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $17.01 | 0.24 | 0.95 | 1.19 | (0.48) | (1.33) | (1.81) | $16.39 | 7.21% | 0.61% | 0.64% | 4.32% | 4.29% | 12% | $56755 |
| 2025 | $16.43 | 0.46 | 0.88 | 1.34 | (0.40) | (0.36) | (0.76) | $17.01 | 8.49% | 0.61% | 0.64% | 2.83% | 2.80% | 10% | $238913 |
| 2024 | $15.30 | 0.44 | 1.13 | 1.57 | (0.33) | (0.11) | (0.44) | $16.43 | 10.50% | 0.61% | 0.65% | 2.83% | 2.79% | 15% | $248481 |
| 2023 | $15.33 | 0.39 | 0.34 | 0.73 | (0.33) | (0.43) | (0.76) | $15.30 | 5.33% | 0.62% | 0.66% | 2.60% | 2.56% | 15% | $277988 |
| 2022 | $18.32 | 0.83 | (2.50) | (1.67) | (0.65) | (0.67) | (1.32) | $15.33 | (9.98)% | 0.61% | 0.65% | 4.78% | 4.74% | 17% | $361327 |
| 2021 | $16.12 | 0.24 | 3.04 | 3.28 | (0.20) | (0.88) | (1.08) | $18.32 | 20.96% | 0.61% | 0.66% | 1.39% | 1.34% | 17% | $575410 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.95 | 0.36 | 0.80 | 1.16 | (0.40) | (1.33) | (1.73) | $16.38 | 7.05% | 1.06% | 1.08% | 3.87% | 3.85% | 12% | $238907 |
| 2025 | $16.38 | 0.40 | 0.86 | 1.26 | (0.33) | (0.36) | (0.69) | $16.95 | 7.96% | 1.06% | 1.08% | 2.38% | 2.36% | 10% | $213091 |
| 2024 | $15.25 | 0.37 | 1.13 | 1.50 | (0.26) | (0.11) | (0.37) | $16.38 | 10.03% | 1.06% | 1.09% | 2.38% | 2.35% | 15% | $213479 |
| 2023 | $15.28 | 0.32 | 0.35 | 0.67 | (0.27) | (0.43) | (0.70) | $15.25 | 4.85% | 1.07% | 1.10% | 2.15% | 2.12% | 15% | $185742 |
| 2022 | $18.27 | 0.73 | (2.48) | (1.75) | (0.57) | (0.67) | (1.24) | $15.28 | (10.43)% | 1.06% | 1.09% | 4.33% | 4.30% | 17% | $189012 |
| 2021 | $16.07 | 0.16 | 3.04 | 3.20 | (0.12) | (0.88) | (1.00) | $18.27 | 20.47% | 1.06% | 1.10% | 0.94% | 0.90% | 17% | $254130 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.88 | 0.29 | 0.78 | 1.07 | (0.26) | (1.33) | (1.59) | $16.36 | 6.55% | 1.81% | 1.83% | 3.12% | 3.10% | 12% | $886 |
| 2025 | $16.30 | 0.27 | 0.87 | 1.14 | (0.20) | (0.36) | (0.56) | $16.88 | 7.23% | 1.81% | 1.83% | 1.63% | 1.61% | 10% | $953 |
| 2024 | $15.18 | 0.25 | 1.13 | 1.38 | (0.15) | (0.11) | (0.26) | $16.30 | 9.18% | 1.81% | 1.84% | 1.63% | 1.60% | 15% | $1195 |
| 2023 | $15.21 | 0.21 | 0.35 | 0.56 | (0.16) | (0.43) | (0.59) | $15.18 | 4.06% | 1.82% | 1.85% | 1.40% | 1.37% | 15% | $1071 |
| 2022 | $18.18 | 0.66 | (2.53) | (1.87) | (0.43) | (0.67) | (1.10) | $15.21 | (11.07)% | 1.81% | 1.84% | 3.58% | 3.55% | 17% | $1184 |
| 2021 | $16.00 | 0.05 | 3.01 | 3.06 |  | (0.88) | (0.88) | $18.18 | 19.56% | 1.81% | 1.85% | 0.19% | 0.15% | 17% | $2048 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | **One Choice 2035 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $16.94 | 0.32 | 0.80 | 1.12 | (0.35) | (1.33) | (1.68) | $16.38 | 6.83% | 1.31% | 1.33% | 3.62% | 3.60% | 12% | $317498 |
| 2025 | $16.36 | 0.35 | 0.88 | 1.23 | (0.29) | (0.36) | (0.65) | $16.94 | 7.76% | 1.31% | 1.33% | 2.13% | 2.11% | 10% | $312384 |
| 2024 | $15.23 | 0.32 | 1.15 | 1.47 | (0.23) | (0.11) | (0.34) | $16.36 | 9.76% | 1.31% | 1.34% | 2.13% | 2.10% | 15% | $385517 |
| 2023 | $15.27 | 0.27 | 0.35 | 0.62 | (0.23) | (0.43) | (0.66) | $15.23 | 4.52% | 1.32% | 1.35% | 1.90% | 1.87% | 15% | $349840 |
| 2022 | $18.25 | 0.68 | (2.47) | (1.79) | (0.52) | (0.67) | (1.19) | $15.27 | (10.62)% | 1.31% | 1.34% | 4.08% | 4.05% | 17% | $297839 |
| 2021 | $16.05 | 0.12 | 3.04 | 3.16 | (0.08) | (0.88) | (0.96) | $18.25 | 20.18% | 1.31% | 1.35% | 0.69% | 0.65% | 17% | $307513 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.53 | 0.24 | 0.49 | 0.73 | (0.50) | (1.33) | (1.83) | $9.43 | 7.34% | 0.46% | 0.52% | 4.47% | 4.41% | 12% | $317699 |
| 2025 | $10.47 | 0.31 | 0.54 | 0.85 | (0.43) | (0.36) | (0.79) | $10.53 | 8.62% | 0.46% | 0.52% | 2.98% | 2.92% | 10% | $360600 |
| 2024 | $9.91 | 0.29 | 0.74 | 1.03 | (0.36) | (0.11) | (0.47) | $10.47 | 10.71% | 0.46% | 0.53% | 2.98% | 2.91% | 15% | $502634 |
| 2023 | $10.22 | 0.26 | 0.21 | 0.47 | (0.35) | (0.43) | (0.78) | $9.91 | 5.49% | 0.47% | 0.55% | 2.75% | 2.67% | 15% | $594019 |
| 2022 | $12.66 | 0.59 | (1.68) | (1.09) | (0.68) | (0.67) | (1.35) | $10.22 | (9.90)% | 0.46% | 0.54% | 4.93% | 4.85% | 17% | $572731 |
| 2021 | $11.44 | 0.18 | 2.15 | 2.33 | (0.23) | (0.88) | (1.11) | $12.66 | 21.24% | 0.46% | 0.56% | 1.54% | 1.44% | 17% | $643520 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $14.26 | 0.31 | 0.75 | 1.06 | (0.39) | (1.36) | (1.75) | $13.57 | 7.68% | 0.83% | 0.86% | 4.05% | 4.02% | 11% | $331766 |
| 2025 | $13.82 | 0.34 | 0.84 | 1.18 | (0.33) | (0.41) | (0.74) | $14.26 | 8.92% | 0.83% | 0.86% | 2.50% | 2.47% | 12% | $307020 |
| 2024 | $12.76 | 0.32 | 1.04 | 1.36 | (0.27) | (0.03) | (0.30) | $13.82 | 10.81% | 0.83% | 0.87% | 2.48% | 2.44% | 14% | $306678 |
| 2023 | $12.80 | 0.28 | 0.41 | 0.69 | (0.26) | (0.47) | (0.73) | $12.76 | 6.00% | 0.84% | 0.88% | 2.23% | 2.19% | 17% | $288417 |
| 2022 | $15.56 | 0.66 | (2.22) | (1.56) | (0.58) | (0.62) | (1.20) | $12.80 | (11.00)% | 0.83% | 0.87% | 4.68% | 4.64% | 19% | $329436 |
| 2021 | $13.47 | 0.17 | 2.83 | 3.00 | (0.14) | (0.77) | (0.91) | $15.56 | 22.90% | 0.83% | 0.88% | 1.12% | 1.07% | 19% | $383921 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $14.27 | 0.21 | 0.87 | 1.08 | (0.42) | (1.36) | (1.78) | $13.57 | 7.83% | 0.63% | 0.66% | 4.25% | 4.22% | 11% | $67551 |
| 2025 | $13.83 | 0.37 | 0.84 | 1.21 | (0.36) | (0.41) | (0.77) | $14.27 | 9.14% | 0.63% | 0.66% | 2.70% | 2.67% | 12% | $233928 |
| 2024 | $12.77 | 0.34 | 1.04 | 1.38 | (0.29) | (0.03) | (0.32) | $13.83 | 11.02% | 0.63% | 0.67% | 2.68% | 2.64% | 14% | $234889 |
| 2023 | $12.82 | 0.30 | 0.41 | 0.71 | (0.29) | (0.47) | (0.76) | $12.77 | 6.14% | 0.64% | 0.68% | 2.43% | 2.39% | 17% | $246247 |
| 2022 | $15.57 | 0.71 | (2.23) | (1.52) | (0.61) | (0.62) | (1.23) | $12.82 | (10.74)% | 0.63% | 0.67% | 4.88% | 4.84% | 19% | $289091 |
| 2021 | $13.49 | 0.19 | 2.83 | 3.02 | (0.17) | (0.77) | (0.94) | $15.57 | 23.14% | 0.63% | 0.69% | 1.32% | 1.26% | 19% | $431522 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $14.23 | 0.29 | 0.76 | 1.05 | (0.35) | (1.36) | (1.71) | $13.57 | 7.65% | 1.08% | 1.11% | 3.80% | 3.77% | 11% | $179571 |
| 2025 | $13.80 | 0.32 | 0.81 | 1.13 | (0.29) | (0.41) | (0.70) | $14.23 | 8.58% | 1.08% | 1.11% | 2.25% | 2.22% | 12% | $161302 |
| 2024 | $12.74 | 0.29 | 1.03 | 1.32 | (0.23) | (0.03) | (0.26) | $13.80 | 10.54% | 1.08% | 1.12% | 2.23% | 2.19% | 14% | $161528 |
| 2023 | $12.78 | 0.24 | 0.42 | 0.66 | (0.23) | (0.47) | (0.70) | $12.74 | 5.74% | 1.09% | 1.13% | 1.98% | 1.94% | 17% | $130076 |
| 2022 | $15.53 | 0.63 | (2.22) | (1.59) | (0.54) | (0.62) | (1.16) | $12.78 | (11.19)% | 1.08% | 1.12% | 4.43% | 4.39% | 19% | $129310 |
| 2021 | $13.45 | 0.13 | 2.82 | 2.95 | (0.10) | (0.77) | (0.87) | $15.53 | 22.54% | 1.08% | 1.13% | 0.87% | 0.82% | 19% | $181238 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $14.16 | 0.18 | 0.80 | 0.98 | (0.24) | (1.36) | (1.60) | $13.54 | 7.14% | 1.83% | 1.86% | 3.05% | 3.02% | 11% | $987 |
| 2025 | $13.72 | 0.17 | 0.87 | 1.04 | (0.19) | (0.41) | (0.60) | $14.16 | 7.87% | 1.83% | 1.86% | 1.50% | 1.47% | 12% | $1605 |
| 2024 | $12.67 | 0.18 | 1.04 | 1.22 | (0.14) | (0.03) | (0.17) | $13.72 | 9.69% | 1.83% | 1.87% | 1.48% | 1.44% | 14% | $1079 |
| 2023 | $12.71 | 0.14 | 0.43 | 0.57 | (0.14) | (0.47) | (0.61) | $12.67 | 4.94% | 1.84% | 1.88% | 1.23% | 1.19% | 17% | $1095 |
| 2022 | $15.45 | 0.51 | (2.21) | (1.70) | (0.42) | (0.62) | (1.04) | $12.71 | (11.88)% | 1.83% | 1.87% | 3.68% | 3.64% | 19% | $1181 |
| 2021 | $13.39 | 0.02 | 2.81 | 2.83 |  | (0.77) | (0.77) | $15.45 | 21.64% | 1.83% | 1.88% | 0.12% | 0.07% | 19% | $1478 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | **One Choice 2040 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $14.21 | 0.27 | 0.75 | 1.02 | (0.31) | (1.36) | (1.67) | $13.56 | 7.45% | 1.33% | 1.36% | 3.55% | 3.52% | 11% | $300752 |
| 2025 | $13.78 | 0.28 | 0.82 | 1.10 | (0.26) | (0.41) | (0.67) | $14.21 | 8.32% | 1.33% | 1.36% | 2.00% | 1.97% | 12% | $289521 |
| 2024 | $12.72 | 0.25 | 1.04 | 1.29 | (0.20) | (0.03) | (0.23) | $13.78 | 10.28% | 1.33% | 1.37% | 1.98% | 1.94% | 14% | $362269 |
| 2023 | $12.76 | 0.21 | 0.42 | 0.63 | (0.20) | (0.47) | (0.67) | $12.72 | 5.47% | 1.34% | 1.38% | 1.73% | 1.69% | 17% | $321003 |
| 2022 | $15.51 | 0.58 | (2.21) | (1.63) | (0.50) | (0.62) | (1.12) | $12.76 | (11.44)% | 1.33% | 1.37% | 4.18% | 4.14% | 19% | $271996 |
| 2021 | $13.43 | 0.09 | 2.82 | 2.91 | (0.06) | (0.77) | (0.83) | $15.51 | 22.26% | 1.33% | 1.38% | 0.62% | 0.57% | 19% | $273869 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $12.20 | 0.28 | 0.64 | 0.92 | (0.44) | (1.36) | (1.80) | $11.32 | 7.87% | 0.48% | 0.55% | 4.40% | 4.33% | 11% | $245485 |
| 2025 | $11.94 | 0.34 | 0.71 | 1.05 | (0.38) | (0.41) | (0.79) | $12.20 | 9.28% | 0.48% | 0.55% | 2.85% | 2.78% | 12% | $272457 |
| 2024 | $11.07 | 0.32 | 0.89 | 1.21 | (0.31) | (0.03) | (0.34) | $11.94 | 11.19% | 0.48% | 0.56% | 2.83% | 2.75% | 14% | $393001 |
| 2023 | $11.21 | 0.27 | 0.36 | 0.63 | (0.30) | (0.47) | (0.77) | $11.07 | 6.41% | 0.49% | 0.57% | 2.58% | 2.50% | 17% | $451836 |
| 2022 | $13.78 | 0.67 | (1.98) | (1.31) | (0.64) | (0.62) | (1.26) | $11.21 | (10.67)% | 0.48% | 0.56% | 5.03% | 4.95% | 19% | $424500 |
| 2021 | $12.03 | 0.19 | 2.52 | 2.71 | (0.19) | (0.77) | (0.96) | $13.78 | 23.31% | 0.48% | 0.58% | 1.47% | 1.37% | 19% | $518709 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $18.71 | 0.40 | 1.12 | 1.52 | (0.43) | (1.72) | (2.15) | $18.08 | 8.41% | 0.86% | 0.88% | 3.96% | 3.94% | 10% | $469046 |
| 2025 | $17.92 | 0.42 | 1.22 | 1.64 | (0.35) | (0.50) | (0.85) | $18.71 | 9.51% | 0.86% | 0.88% | 2.34% | 2.32% | 11% | $431015 |
| 2024 | $16.45 | 0.38 | 1.45 | 1.83 | (0.28) | (0.08) | (0.36) | $17.92 | 11.35% | 0.86% | 0.89% | 2.29% | 2.26% | 13% | $432298 |
| 2023 | $16.31 | 0.32 | 0.68 | 1.00 | (0.26) | (0.60) | (0.86) | $16.45 | 6.79% | 0.87% | 0.90% | 2.00% | 1.97% | 16% | $407551 |
| 2022 | $19.84 | 0.86 | (2.96) | (2.10) | (0.67) | (0.76) | (1.43) | $16.31 | (11.59)% | 0.86% | 0.89% | 4.73% | 4.70% | 18% | $438091 |
| 2021 | $16.86 | 0.19 | 3.92 | 4.11 | (0.14) | (0.99) | (1.13) | $19.84 | 25.08% | 0.86% | 0.90% | 1.01% | 0.97% | 15% | $521474 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.75 | 0.25 | 1.29 | 1.54 | (0.47) | (1.72) | (2.19) | $18.10 | 8.50% | 0.66% | 0.69% | 4.16% | 4.13% | 10% | $49979 |
| 2025 | $17.96 | 0.45 | 1.23 | 1.68 | (0.39) | (0.50) | (0.89) | $18.75 | 9.71% | 0.66% | 0.69% | 2.54% | 2.51% | 11% | $216341 |
| 2024 | $16.49 | 0.41 | 1.45 | 1.86 | (0.31) | (0.08) | (0.39) | $17.96 | 11.54% | 0.66% | 0.70% | 2.49% | 2.45% | 13% | $224188 |
| 2023 | $16.35 | 0.35 | 0.68 | 1.03 | (0.29) | (0.60) | (0.89) | $16.49 | 7.00% | 0.67% | 0.71% | 2.20% | 2.16% | 16% | $221518 |
| 2022 | $19.88 | 0.92 | (2.98) | (2.06) | (0.71) | (0.76) | (1.47) | $16.35 | (11.38)% | 0.66% | 0.69% | 4.93% | 4.90% | 18% | $272169 |
| 2021 | $16.90 | 0.22 | 3.93 | 4.15 | (0.18) | (0.99) | (1.17) | $19.88 | 25.35% | 0.66% | 0.71% | 1.21% | 1.16% | 15% | $406955 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.68 | 0.38 | 1.11 | 1.49 | (0.38) | (1.72) | (2.10) | $18.07 | 8.26% | 1.11% | 1.13% | 3.71% | 3.69% | 10% | $176664 |
| 2025 | $17.89 | 0.39 | 1.20 | 1.59 | (0.30) | (0.50) | (0.80) | $18.68 | 9.25% | 1.11% | 1.13% | 2.09% | 2.07% | 11% | $159239 |
| 2024 | $16.42 | 0.35 | 1.44 | 1.79 | (0.24) | (0.08) | (0.32) | $17.89 | 11.09% | 1.11% | 1.14% | 2.04% | 2.01% | 13% | $157212 |
| 2023 | $16.29 | 0.28 | 0.67 | 0.95 | (0.22) | (0.60) | (0.82) | $16.42 | 6.46% | 1.12% | 1.15% | 1.75% | 1.72% | 16% | $124182 |
| 2022 | $19.81 | 0.81 | (2.96) | (2.15) | (0.61) | (0.76) | (1.37) | $16.29 | (11.79)% | 1.11% | 1.14% | 4.48% | 4.45% | 18% | $129008 |
| 2021 | $16.83 | 0.14 | 3.93 | 4.07 | (0.10) | (0.99) | (1.09) | $19.81 | 24.80% | 1.11% | 1.15% | 0.76% | 0.72% | 15% | $173756 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.55 | 0.30 | 1.11 | 1.41 | (0.23) | (1.72) | (1.95) | $18.01 | 7.87% | 1.86% | 1.88% | 2.96% | 2.94% | 10% | $624 |
| 2025 | $17.77 | 0.23 | 1.22 | 1.45 | (0.17) | (0.50) | (0.67) | $18.55 | 8.41% | 1.86% | 1.88% | 1.34% | 1.32% | 11% | $678 |
| 2024 | $16.31 | 0.21 | 1.44 | 1.65 | (0.11) | (0.08) | (0.19) | $17.77 | 10.26% | 1.86% | 1.89% | 1.29% | 1.26% | 13% | $905 |
| 2023 | $16.18 | 0.16 | 0.67 | 0.83 | (0.10) | (0.60) | (0.70) | $16.31 | 5.67% | 1.87% | 1.90% | 1.00% | 0.97% | 16% | $1289 |
| 2022 | $19.68 | 0.67 | (2.95) | (2.28) | (0.46) | (0.76) | (1.22) | $16.18 | (12.46)% | 1.86% | 1.89% | 3.73% | 3.70% | 18% | $1434 |
| 2021 | $16.76 | 0.01 | 3.90 | 3.91 |  | (0.99) | (0.99) | $19.68 | 23.89% | 1.86% | 1.90% | 0.01% | (0.03)% | 15% | $1974 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | **One Choice 2045 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $18.68 | 0.34 | 1.12 | 1.46 | (0.33) | (1.72) | (2.05) | $18.09 | 8.09% | 1.36% | 1.38% | 3.46% | 3.44% | 10% | $326740 |
| 2025 | $17.89 | 0.33 | 1.22 | 1.55 | (0.26) | (0.50) | (0.76) | $18.68 | 8.97% | 1.36% | 1.38% | 1.84% | 1.82% | 11% | $312761 |
| 2024 | $16.42 | 0.29 | 1.46 | 1.75 | (0.20) | (0.08) | (0.28) | $17.89 | 10.81% | 1.36% | 1.39% | 1.79% | 1.76% | 13% | $357554 |
| 2023 | $16.28 | 0.23 | 0.69 | 0.92 | (0.18) | (0.60) | (0.78) | $16.42 | 6.25% | 1.37% | 1.40% | 1.50% | 1.47% | 16% | $315314 |
| 2022 | $19.80 | 0.75 | (2.95) | (2.20) | (0.56) | (0.76) | (1.32) | $16.28 | (12.03)% | 1.36% | 1.39% | 4.23% | 4.20% | 18% | $259822 |
| 2021 | $16.83 | 0.09 | 3.92 | 4.01 | (0.05) | (0.99) | (1.04) | $19.80 | 24.49% | 1.36% | 1.40% | 0.51% | 0.47% | 15% | $267304 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.84 | 0.23 | 0.65 | 0.88 | (0.50) | (1.72) | (2.22) | $9.50 | 8.63% | 0.51% | 0.56% | 4.31% | 4.26% | 10% | $228494 |
| 2025 | $10.76 | 0.29 | 0.70 | 0.99 | (0.41) | (0.50) | (0.91) | $10.84 | 9.89% | 0.51% | 0.56% | 2.69% | 2.64% | 11% | $274613 |
| 2024 | $10.04 | 0.26 | 0.88 | 1.14 | (0.34) | (0.08) | (0.42) | $10.76 | 11.76% | 0.51% | 0.57% | 2.64% | 2.58% | 13% | $396392 |
| 2023 | $10.34 | 0.23 | 0.38 | 0.61 | (0.31) | (0.60) | (0.91) | $10.04 | 7.07% | 0.52% | 0.59% | 2.35% | 2.28% | 16% | $439154 |
| 2022 | $13.11 | 0.63 | (1.90) | (1.27) | (0.74) | (0.76) | (1.50) | $10.34 | (11.25)% | 0.51% | 0.58% | 5.08% | 5.01% | 18% | $410845 |
| 2021 | $11.50 | 0.16 | 2.65 | 2.81 | (0.21) | (0.99) | (1.20) | $13.11 | 25.53% | 0.51% | 0.59% | 1.36% | 1.28% | 15% | $520523 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $15.81 | 0.33 | 1.01 | 1.34 | (0.37) | (1.74) | (2.11) | $15.04 | 8.88% | 0.88% | 0.90% | 3.85% | 3.83% | 11% | $282416 |
| 2025 | $15.07 | 0.32 | 1.14 | 1.46 | (0.31) | (0.41) | (0.72) | $15.81 | 10.04% | 0.88% | 0.90% | 2.16% | 2.14% | 12% | $252724 |
| 2024 | $13.73 | 0.29 | 1.32 | 1.61 | (0.24) | (0.03) | (0.27) | $15.07 | 11.93% | 0.88% | 0.91% | 2.09% | 2.06% | 14% | $242361 |
| 2023 | $13.61 | 0.23 | 0.71 | 0.94 | (0.21) | (0.61) | (0.82) | $13.73 | 7.71% | 0.89% | 0.92% | 1.75% | 1.72% | 17% | $214542 |
| 2022 | $16.61 | 0.73 | (2.53) | (1.80) | (0.64) | (0.56) | (1.20) | $13.61 | (11.87)% | 0.88% | 0.91% | 4.87% | 4.84% | 19% | $235537 |
| 2021 | $13.90 | 0.15 | 3.54 | 3.69 | (0.13) | (0.85) | (0.98) | $16.61 | 27.33% | 0.88% | 0.92% | 0.90% | 0.86% | 16% | $269509 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $15.84 | 0.19 | 1.18 | 1.37 | (0.41) | (1.74) | (2.15) | $15.06 | 9.01% | 0.68% | 0.71% | 4.05% | 4.02% | 11% | $46860 |
| 2025 | $15.10 | 0.35 | 1.14 | 1.49 | (0.34) | (0.41) | (0.75) | $15.84 | 10.25% | 0.68% | 0.71% | 2.36% | 2.33% | 12% | $214794 |
| 2024 | $13.77 | 0.32 | 1.31 | 1.63 | (0.27) | (0.03) | (0.30) | $15.10 | 12.05% | 0.68% | 0.72% | 2.29% | 2.25% | 14% | $213043 |
| 2023 | $13.64 | 0.26 | 0.71 | 0.97 | (0.23) | (0.61) | (0.84) | $13.77 | 7.99% | 0.69% | 0.72% | 1.95% | 1.92% | 17% | $209961 |
| 2022 | $16.65 | 0.79 | (2.57) | (1.78) | (0.67) | (0.56) | (1.23) | $13.64 | (11.72)% | 0.68% | 0.71% | 5.07% | 5.04% | 19% | $223504 |
| 2021 | $13.93 | 0.17 | 3.56 | 3.73 | (0.16) | (0.85) | (1.01) | $16.65 | 27.61% | 0.68% | 0.73% | 1.10% | 1.05% | 16% | $315079 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $15.79 | 0.32 | 1.00 | 1.32 | (0.33) | (1.74) | (2.07) | $15.04 | 8.74% | 1.13% | 1.15% | 3.60% | 3.58% | 11% | $158325 |
| 2025 | $15.05 | 0.30 | 1.12 | 1.42 | (0.27) | (0.41) | (0.68) | $15.79 | 9.77% | 1.13% | 1.15% | 1.91% | 1.89% | 12% | $141616 |
| 2024 | $13.72 | 0.27 | 1.30 | 1.57 | (0.21) | (0.03) | (0.24) | $15.05 | 11.59% | 1.13% | 1.16% | 1.84% | 1.81% | 14% | $135549 |
| 2023 | $13.60 | 0.19 | 0.72 | 0.91 | (0.18) | (0.61) | (0.79) | $13.72 | 7.44% | 1.14% | 1.17% | 1.50% | 1.47% | 17% | $98748 |
| 2022 | $16.59 | 0.70 | (2.53) | (1.83) | (0.60) | (0.56) | (1.16) | $13.60 | (12.04)% | 1.13% | 1.16% | 4.62% | 4.59% | 19% | $91347 |
| 2021 | $13.88 | 0.11 | 3.54 | 3.65 | (0.09) | (0.85) | (0.94) | $16.59 | 27.04% | 1.13% | 1.17% | 0.65% | 0.61% | 16% | $115318 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $15.70 | 0.24 | 1.02 | 1.26 | (0.21) | (1.74) | (1.95) | $15.01 | 8.34% | 1.88% | 1.90% | 2.85% | 2.83% | 11% | $626 |
| 2025 | $14.96 | 0.16 | 1.15 | 1.31 | (0.16) | (0.41) | (0.57) | $15.70 | 8.99% | 1.88% | 1.90% | 1.16% | 1.14% | 12% | $618 |
| 2024 | $13.64 | 0.15 | 1.31 | 1.46 | (0.11) | (0.03) | (0.14) | $14.96 | 10.74% | 1.88% | 1.91% | 1.09% | 1.06% | 14% | $1102 |
| 2023 | $13.52 | 0.10 | 0.71 | 0.81 | (0.08) | (0.61) | (0.69) | $13.64 | 6.64% | 1.89% | 1.92% | 0.75% | 0.72% | 17% | $1161 |
| 2022 | $16.50 | 0.61 | (2.56) | (1.95) | (0.47) | (0.56) | (1.03) | $13.52 | (12.74)% | 1.88% | 1.91% | 3.87% | 3.84% | 19% | $1063 |
| 2021 | $13.83 | —<sup>(4)</sup> | 3.52 | 3.52 |  | (0.85) | (0.85) | $16.50 | 26.11% | 1.88% | 1.92% | (0.10)% | (0.14)% | 16% | $1434 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | **One Choice 2050 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $15.78 | 0.29 | 1.01 | 1.30 | (0.29) | (1.74) | (2.03) | $15.05 | 8.59% | 1.38% | 1.40% | 3.35% | 3.33% | 11% | $267410 |
| 2025 | $15.04 | 0.25 | 1.13 | 1.38 | (0.23) | (0.41) | (0.64) | $15.78 | 9.50% | 1.38% | 1.40% | 1.66% | 1.64% | 12% | $250864 |
| 2024 | $13.71 | 0.21 | 1.32 | 1.53 | (0.17) | (0.03) | (0.20) | $15.04 | 11.31% | 1.38% | 1.41% | 1.59% | 1.56% | 14% | $298356 |
| 2023 | $13.59 | 0.16 | 0.71 | 0.87 | (0.14) | (0.61) | (0.75) | $13.71 | 7.16% | 1.39% | 1.42% | 1.25% | 1.22% | 17% | $259213 |
| 2022 | $16.58 | 0.64 | (2.52) | (1.88) | (0.55) | (0.56) | (1.11) | $13.59 | (12.28)% | 1.38% | 1.41% | 4.37% | 4.34% | 19% | $205966 |
| 2021 | $13.87 | 0.06 | 3.55 | 3.61 | (0.05) | (0.85) | (0.90) | $16.58 | 26.73% | 1.38% | 1.42% | 0.40% | 0.36% | 16% | $207018 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.57 | 0.29 | 0.88 | 1.17 | (0.43) | (1.74) | (2.17) | $12.57 | 9.09% | 0.53% | 0.58% | 4.20% | 4.15% | 11% | $210534 |
| 2025 | $13.04 | 0.33 | 0.97 | 1.30 | (0.36) | (0.41) | (0.77) | $13.57 | 10.45% | 0.53% | 0.58% | 2.51% | 2.46% | 12% | $237397 |
| 2024 | $11.93 | 0.29 | 1.14 | 1.43 | (0.29) | (0.03) | (0.32) | $13.04 | 12.25% | 0.53% | 0.59% | 2.44% | 2.38% | 14% | $329717 |
| 2023 | $11.95 | 0.23 | 0.61 | 0.84 | (0.25) | (0.61) | (0.86) | $11.93 | 8.06% | 0.54% | 0.60% | 2.10% | 2.04% | 17% | $368118 |
| 2022 | $14.73 | 0.75 | (2.27) | (1.52) | (0.70) | (0.56) | (1.26) | $11.95 | (11.52)% | 0.53% | 0.59% | 5.22% | 5.16% | 19% | $312841 |
| 2021 | $12.43 | 0.17 | 3.16 | 3.33 | (0.18) | (0.85) | (1.03) | $14.73 | 27.78% | 0.53% | 0.61% | 1.25% | 1.17% | 16% | $405593 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

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

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $18.25 | 0.38 | 1.26 | 1.64 | (0.39) | (1.88) | (2.27) | $17.62 | 9.33% | 0.88% | 0.92% | 3.76% | 3.72% | 13% | $178462 |
| 2025 | $17.16 | 0.34 | 1.43 | 1.77 | (0.33) | (0.35) | (0.68) | $18.25 | 10.66% | 0.88% | 0.92% | 1.98% | 1.94% | 14% | $151733 |
| 2024 | $15.51 | 0.30 | 1.59 | 1.89 | (0.24) |  | (0.24) | $17.16 | 12.36% | 0.88% | 0.93% | 1.93% | 1.88% | 15% | $145300 |
| 2023 | $15.19 | 0.24 | 0.93 | 1.17 | (0.22) | (0.63) | (0.85) | $15.51 | 8.45% | 0.89% | 0.93% | 1.58% | 1.54% | 18% | $122095 |
| 2022 | $18.57 | 0.82 | (2.87) | (2.05) | (0.71) | (0.62) | (1.33) | $15.19 | (12.07)% | 0.88% | 0.92% | 4.89% | 4.85% | 19% | $126682 |
| 2021 | $15.21 | 0.16 | 4.07 | 4.23 | (0.14) | (0.73) | (0.87) | $18.57 | 28.45% | 0.88% | 0.93% | 0.86% | 0.81% | 17% | $145510 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.26 | 0.21 | 1.46 | 1.67 | (0.43) | (1.88) | (2.31) | $17.62 | 9.50% | 0.68% | 0.72% | 3.96% | 3.92% | 13% | $35952 |
| 2025 | $17.17 | 0.37 | 1.44 | 1.81 | (0.37) | (0.35) | (0.72) | $18.26 | 10.88% | 0.68% | 0.72% | 2.18% | 2.14% | 14% | $163898 |
| 2024 | $15.51 | 0.33 | 1.60 | 1.93 | (0.27) |  | (0.27) | $17.17 | 12.65% | 0.68% | 0.73% | 2.13% | 2.08% | 15% | $167145 |
| 2023 | $15.20 | 0.27 | 0.92 | 1.19 | (0.25) | (0.63) | (0.88) | $15.51 | 8.60% | 0.69% | 0.74% | 1.78% | 1.73% | 18% | $157600 |
| 2022 | $18.58 | 0.89 | (2.90) | (2.01) | (0.75) | (0.62) | (1.37) | $15.20 | (11.88)% | 0.68% | 0.72% | 5.09% | 5.05% | 19% | $168209 |
| 2021 | $15.22 | 0.18 | 4.08 | 4.26 | (0.17) | (0.73) | (0.90) | $18.58 | 28.69% | 0.68% | 0.74% | 1.06% | 1.00% | 17% | $231400 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.20 | 0.36 | 1.26 | 1.62 | (0.34) | (1.88) | (2.22) | $17.60 | 9.25% | 1.13% | 1.17% | 3.51% | 3.47% | 13% | $117578 |
| 2025 | $17.11 | 0.31 | 1.42 | 1.73 | (0.29) | (0.35) | (0.64) | $18.20 | 10.41% | 1.13% | 1.17% | 1.73% | 1.69% | 14% | $105243 |
| 2024 | $15.47 | 0.28 | 1.56 | 1.84 | (0.20) |  | (0.20) | $17.11 | 12.05% | 1.13% | 1.18% | 1.68% | 1.63% | 15% | $95148 |
| 2023 | $15.15 | 0.19 | 0.94 | 1.13 | (0.18) | (0.63) | (0.81) | $15.47 | 8.18% | 1.14% | 1.18% | 1.33% | 1.29% | 18% | $69326 |
| 2022 | $18.52 | 0.78 | (2.87) | (2.09) | (0.66) | (0.62) | (1.28) | $15.15 | (12.27)% | 1.13% | 1.17% | 4.64% | 4.60% | 19% | $62800 |
| 2021 | $15.17 | 0.11 | 4.06 | 4.17 | (0.09) | (0.73) | (0.82) | $18.52 | 28.12% | 1.13% | 1.18% | 0.61% | 0.56% | 17% | $77870 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $18.01 | 0.24 | 1.29 | 1.53 | (0.20) | (1.88) | (2.08) | $17.46 | 8.79% | 1.88% | 1.92% | 2.76% | 2.72% | 13% | $505 |
| 2025 | $16.93 | 0.17 | 1.42 | 1.59 | (0.16) | (0.35) | (0.51) | $18.01 | 9.61% | 1.88% | 1.92% | 0.98% | 0.94% | 14% | $683 |
| 2024 | $15.30 | 0.15 | 1.57 | 1.72 | (0.09) |  | (0.09) | $16.93 | 11.27% | 1.88% | 1.93% | 0.93% | 0.88% | 15% | $882 |
| 2023 | $14.99 | 0.08 | 0.93 | 1.01 | (0.07) | (0.63) | (0.70) | $15.30 | 7.35% | 1.89% | 1.93% | 0.58% | 0.54% | 18% | $822 |
| 2022 | $18.34 | 0.63 | (2.84) | (2.21) | (0.52) | (0.62) | (1.14) | $14.99 | (12.98)% | 1.88% | 1.92% | 3.89% | 3.85% | 19% | $845 |
| 2021 | $15.06 | (0.01) | 4.02 | 4.01 |  | (0.73) | (0.73) | $18.34 | 27.24% | 1.88% | 1.93% | (0.14)% | (0.19)% | 17% | $1069 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | **One Choice 2055 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $18.21 | 0.32 | 1.27 | 1.59 | (0.29) | (1.88) | (2.17) | $17.63 | 9.08% | 1.38% | 1.42% | 3.26% | 3.22% | 13% | $219760 |
| 2025 | $17.12 | 0.26 | 1.43 | 1.69 | (0.25) | (0.35) | (0.60) | $18.21 | 10.13% | 1.38% | 1.42% | 1.48% | 1.44% | 14% | $202997 |
| 2024 | $15.47 | 0.22 | 1.59 | 1.81 | (0.16) |  | (0.16) | $17.12 | 11.83% | 1.38% | 1.43% | 1.43% | 1.38% | 15% | $224692 |
| 2023 | $15.15 | 0.15 | 0.94 | 1.09 | (0.14) | (0.63) | (0.77) | $15.47 | 7.90% | 1.39% | 1.43% | 1.08% | 1.04% | 18% | $192693 |
| 2022 | $18.52 | 0.72 | (2.86) | (2.14) | (0.61) | (0.62) | (1.23) | $15.15 | (12.50)% | 1.38% | 1.42% | 4.39% | 4.35% | 19% | $144055 |
| 2021 | $15.17 | 0.06 | 4.07 | 4.13 | (0.05) | (0.73) | (0.78) | $18.52 | 27.79% | 1.38% | 1.43% | 0.36% | 0.31% | 17% | $138104 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $14.65 | 0.31 | 1.03 | 1.34 | (0.46) | (1.88) | (2.34) | $13.65 | 9.59% | 0.53% | 0.59% | 4.11% | 4.05% | 13% | $175195 |
| 2025 | $13.92 | 0.33 | 1.15 | 1.48 | (0.40) | (0.35) | (0.75) | $14.65 | 11.04% | 0.53% | 0.59% | 2.33% | 2.27% | 14% | $201790 |
| 2024 | $12.63 | 0.29 | 1.30 | 1.59 | (0.30) |  | (0.30) | $13.92 | 12.81% | 0.53% | 0.60% | 2.28% | 2.21% | 15% | $247275 |
| 2023 | $12.55 | 0.23 | 0.75 | 0.98 | (0.27) | (0.63) | (0.90) | $12.63 | 8.79% | 0.54% | 0.61% | 1.93% | 1.86% | 18% | $264930 |
| 2022 | $15.58 | 0.80 | (2.44) | (1.64) | (0.77) | (0.62) | (1.39) | $12.55 | (11.75)% | 0.53% | 0.59% | 5.24% | 5.18% | 19% | $224504 |
| 2021 | $12.89 | 0.17 | 3.45 | 3.62 | (0.20) | (0.73) | (0.93) | $15.58 | 28.91% | 0.53% | 0.61% | 1.21% | 1.13% | 17% | $273227 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $16.74 | 0.35 | 1.21 | 1.56 | (0.37) | (1.36) | (1.73) | $16.57 | 9.60% | 0.88% | 0.93% | 3.77% | 3.72% | 14% | $92879 |
| 2025 | $15.58 | 0.30 | 1.35 | 1.65 | (0.32) | (0.17) | (0.49) | $16.74 | 10.89% | 0.88% | 0.93% | 1.92% | 1.87% | 20% | $79479 |
| 2024 | $14.06 | 0.26 | 1.49 | 1.75 | (0.23) |  | (0.23) | $15.58 | 12.62% | 0.88% | 0.94% | 1.85% | 1.79% | 15% | $71576 |
| 2023 | $13.90 | 0.20 | 0.89 | 1.09 | (0.21) | (0.72) | (0.93) | $14.06 | 8.80% | 0.89% | 0.94% | 1.46% | 1.41% | 14% | $55975 |
| 2022 | $16.84 | 0.75 | (2.65) | (1.90) | (0.70) | (0.34) | (1.04) | $13.90 | (12.16)% | 0.88% | 0.93% | 4.87% | 4.82% | 16% | $54887 |
| 2021 | $13.46 | 0.13 | 3.75 | 3.88 | (0.13) | (0.37) | (0.50) | $16.84 | 29.28% | 0.88% | 0.94% | 0.80% | 0.74% | 9% | $55757 |
| **I Class** | **I Class** | **I Class** | **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.77 | 0.14 | 1.43 | 1.57 | (0.40) | (1.36) | (1.76) | $16.58 | 9.69% | 0.68% | 0.73% | 3.97% | 3.92% | 14% | $10677 |
| 2025 | $15.60 | 0.33 | 1.36 | 1.69 | (0.35) | (0.17) | (0.52) | $16.77 | 11.16% | 0.68% | 0.73% | 2.12% | 2.07% | 20% | $87028 |
| 2024 | $14.08 | 0.29 | 1.49 | 1.78 | (0.26) |  | (0.26) | $15.60 | 12.83% | 0.68% | 0.74% | 2.05% | 1.99% | 15% | $80635 |
| 2023 | $13.92 | 0.22 | 0.89 | 1.11 | (0.23) | (0.72) | (0.95) | $14.08 | 9.01% | 0.69% | 0.74% | 1.66% | 1.61% | 14% | $66910 |
| 2022 | $16.86 | 0.81 | (2.67) | (1.86) | (0.74) | (0.34) | (1.08) | $13.92 | (11.96)% | 0.68% | 0.73% | 5.07% | 5.02% | 16% | $55157 |
| 2021 | $13.47 | 0.15 | 3.77 | 3.92 | (0.16) | (0.37) | (0.53) | $16.86 | 29.59% | 0.68% | 0.74% | 1.00% | 0.94% | 9% | $78572 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.71 | 0.34 | 1.19 | 1.53 | (0.32) | (1.36) | (1.68) | $16.56 | 9.46% | 1.13% | 1.18% | 3.52% | 3.47% | 14% | $69998 |
| 2025 | $15.55 | 0.28 | 1.33 | 1.61 | (0.28) | (0.17) | (0.45) | $16.71 | 10.63% | 1.13% | 1.18% | 1.67% | 1.62% | 20% | $56750 |
| 2024 | $14.03 | 0.24 | 1.47 | 1.71 | (0.19) |  | (0.19) | $15.55 | 12.37% | 1.13% | 1.19% | 1.60% | 1.54% | 15% | $49134 |
| 2023 | $13.88 | 0.16 | 0.88 | 1.04 | (0.17) | (0.72) | (0.89) | $14.03 | 8.45% | 1.14% | 1.19% | 1.21% | 1.16% | 14% | $28253 |
| 2022 | $16.81 | 0.71 | (2.64) | (1.93) | (0.66) | (0.34) | (1.00) | $13.88 | (12.35)% | 1.13% | 1.18% | 4.62% | 4.57% | 16% | $23520 |
| 2021 | $13.43 | 0.09 | 3.75 | 3.84 | (0.09) | (0.37) | (0.46) | $16.81 | 29.01% | 1.13% | 1.19% | 0.55% | 0.49% | 9% | $26722 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.51 | 0.29 | 1.17 | 1.46 | (0.19) | (1.36) | (1.55) | $16.42 | 9.11% | 1.88% | 1.93% | 2.77% | 2.72% | 14% | $178 |
| 2025 | $15.37 | 0.16 | 1.31 | 1.47 | (0.16) | (0.17) | (0.33) | $16.51 | 9.77% | 1.88% | 1.93% | 0.92% | 0.87% | 20% | $352 |
| 2024 | $13.87 | 0.12 | 1.47 | 1.59 | (0.09) |  | (0.09) | $15.37 | 11.52% | 1.88% | 1.94% | 0.85% | 0.79% | 15% | $375 |
| 2023 | $13.72 | 0.06 | 0.88 | 0.94 | (0.07) | (0.72) | (0.79) | $13.87 | 7.69% | 1.89% | 1.94% | 0.46% | 0.41% | 14% | $290 |
| 2022 | $16.62 | 0.59 | (2.62) | (2.03) | (0.53) | (0.34) | (0.87) | $13.72 | (13.00)% | 1.88% | 1.93% | 3.87% | 3.82% | 16% | $248 |
| 2021 | $13.31 | (0.03) | 3.71 | 3.68 |  | (0.37) | (0.37) | $16.62 | 27.97% | 1.88% | 1.94% | (0.20)% | (0.26)% | 9% | $290 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | | | | | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | **One Choice 2060 Portfolio** | | | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $16.68 | 0.30 | 1.21 | 1.51 | (0.28) | (1.36) | (1.64) | $16.55 | 9.33% | 1.38% | 1.43% | 3.27% | 3.22% | 14% | $138481 |
| 2025 | $15.53 | 0.22 | 1.34 | 1.56 | (0.24) | (0.17) | (0.41) | $16.68 | 10.30% | 1.38% | 1.43% | 1.42% | 1.37% | 20% | $126998 |
| 2024 | $14.01 | 0.18 | 1.50 | 1.68 | (0.16) |  | (0.16) | $15.53 | 12.10% | 1.38% | 1.44% | 1.35% | 1.29% | 15% | $146041 |
| 2023 | $13.85 | 0.13 | 0.89 | 1.02 | (0.14) | (0.72) | (0.86) | $14.01 | 8.26% | 1.39% | 1.44% | 0.96% | 0.91% | 14% | $115828 |
| 2022 | $16.78 | 0.70 | (2.67) | (1.97) | (0.62) | (0.34) | (0.96) | $13.85 | (12.60)% | 1.38% | 1.43% | 4.37% | 4.32% | 16% | $78044 |
| 2021 | $13.41 | 0.05 | 3.74 | 3.79 | (0.05) | (0.37) | (0.42) | $16.78 | 28.65% | 1.38% | 1.44% | 0.30% | 0.24% | 9% | $62456 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $16.83 | 0.37 | 1.23 | 1.60 | (0.43) | (1.36) | (1.79) | $16.64 | 9.82% | 0.53% | 0.60% | 4.12% | 4.05% | 14% | $118397 |
| 2025 | $15.66 | 0.37 | 1.35 | 1.72 | (0.38) | (0.17) | (0.55) | $16.83 | 11.29% | 0.53% | 0.60% | 2.27% | 2.20% | 20% | $124678 |
| 2024 | $14.13 | 0.32 | 1.49 | 1.81 | (0.28) |  | (0.28) | $15.66 | 13.02% | 0.53% | 0.61% | 2.20% | 2.12% | 15% | $136268 |
| 2023 | $13.97 | 0.24 | 0.89 | 1.13 | (0.25) | (0.72) | (0.97) | $14.13 | 9.15% | 0.54% | 0.62% | 1.81% | 1.73% | 14% | $135501 |
| 2022 | $16.92 | 0.88 | (2.73) | (1.85) | (0.76) | (0.34) | (1.10) | $13.97 | (11.84)% | 0.53% | 0.60% | 5.22% | 5.15% | 16% | $98298 |
| 2021 | $13.52 | 0.17 | 3.78 | 3.95 | (0.18) | (0.37) | (0.55) | $16.92 | 29.76% | 0.53% | 0.62% | 1.15% | 1.06% | 9% | $102371 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | | |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $13.64 | 0.29 | 1.03 | 1.32 | (0.31) | (0.52) | (0.83) | $14.13 | 9.83% | 0.88% | 0.94% | 3.85% | 3.79% | 25% | $18796 |
| 2025 | $12.60 | 0.23 | 1.14 | 1.37 | (0.25) | (0.08) | (0.33) | $13.64 | 11.08% | 0.88% | 0.94% | 1.79% | 1.73% | 8% | $13971 |
| 2024 | $11.35 | 0.20 | 1.24 | 1.44 | (0.18) | (0.01) | (0.19) | $12.60 | 12.90% | 0.88% | 0.95% | 1.70% | 1.63% | 8% | $9351 |
| 2023 | $10.86 | 0.15 | 0.77 | 0.92 | (0.17) | (0.26) | (0.43) | $11.35 | 9.00% | 0.91% | 0.97% | 1.37% | 1.31% | 19% | $5229 |
| 2022 | $12.89 | 0.60 | (2.09) | (1.49) | (0.52) | (0.02) | (0.54) | $10.86 | (12.16)% | 0.88% | 0.93% | 4.77% | 4.72% | 18% | $3483 |
| 2021<sup>(4)</sup> | $10.00 | 0.06 | 2.93 | 2.99 | (0.10) |  | (0.10) | $12.89 | 30.02% | 0.88% | 0.94% | 0.33% | 0.27% | 17% | $2103 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.65 | 0.06 | 1.26 | 1.32 | (0.33) | (0.52) | (0.85) | $14.12 | 9.90% | 0.68% | 0.74% | 4.05% | 3.99% | 25% | $2253 |
| 2025 | $12.61 | 0.25 | 1.14 | 1.39 | (0.27) | (0.08) | (0.35) | $13.65 | 11.30% | 0.68% | 0.74% | 1.99% | 1.93% | 8% | $26237 |
| 2024 | $11.36 | 0.22 | 1.25 | 1.47 | (0.21) | (0.01) | (0.22) | $12.61 | 13.11% | 0.68% | 0.75% | 1.90% | 1.83% | 8% | $17822 |
| 2023 | $10.87 | 0.17 | 0.77 | 0.94 | (0.19) | (0.26) | (0.45) | $11.36 | 9.22% | 0.71% | 0.77% | 1.57% | 1.51% | 19% | $8114 |
| 2022 | $12.90 | 0.63 | (2.09) | (1.46) | (0.55) | (0.02) | (0.57) | $10.87 | (11.97)% | 0.68% | 0.74% | 4.97% | 4.91% | 18% | $3324 |
| 2021<sup>(4)</sup> | $10.00 | 0.03 | 2.98 | 3.01 | (0.11) |  | (0.11) | $12.90 | 30.19% | 0.68% | 0.75% | 0.53% | 0.46% | 17% | $1901 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.61 | 0.30 | 0.99 | 1.29 | (0.27) | (0.52) | (0.79) | $14.11 | 9.65% | 1.13% | 1.19% | 3.60% | 3.54% | 25% | $21950 |
| 2025 | $12.57 | 0.21 | 1.13 | 1.34 | (0.22) | (0.08) | (0.30) | $13.61 | 10.83% | 1.13% | 1.19% | 1.54% | 1.48% | 8% | $14912 |
| 2024 | $11.33 | 0.18 | 1.23 | 1.41 | (0.16) | (0.01) | (0.17) | $12.57 | 12.55% | 1.13% | 1.20% | 1.45% | 1.38% | 8% | $8564 |
| 2023 | $10.84 | 0.11 | 0.78 | 0.89 | (0.14) | (0.26) | (0.40) | $11.33 | 8.73% | 1.16% | 1.22% | 1.12% | 1.06% | 19% | $2534 |
| 2022 | $12.86 | 0.57 | (2.08) | (1.51) | (0.49) | (0.02) | (0.51) | $10.84 | (12.33)% | 1.13% | 1.18% | 4.52% | 4.47% | 18% | $797 |
| 2021<sup>(4)</sup> | $10.00 | 0.03 | 2.92 | 2.95 | (0.09) |  | (0.09) | $12.86 | 29.63% | 1.13% | 1.19% | 0.08% | 0.02% | 17% | $271 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.56 | 0.21 | 1.02 | 1.23 | (0.16) | (0.52) | (0.68) | $14.11 | 9.22% | 1.88% | 1.94% | 2.85% | 2.79% | 25% | $143 |
| 2025 | $12.52 | 0.12 | 1.12 | 1.24 | (0.12) | (0.08) | (0.20) | $13.56 | 10.03% | 1.88% | 1.94% | 0.79% | 0.73% | 8% | $124 |
| 2024 | $11.29 | 0.09 | 1.22 | 1.31 | (0.07) | (0.01) | (0.08) | $12.52 | 11.66% | 1.88% | 1.95% | 0.70% | 0.63% | 8% | $139 |
| 2023 | $10.80 | 0.04 | 0.77 | 0.81 | (0.06) | (0.26) | (0.32) | $11.29 | 7.92% | 1.91% | 1.97% | 0.37% | 0.31% | 19% | $117 |
| 2022 | $12.81 | 0.45 | (2.05) | (1.60) | (0.39) | (0.02) | (0.41) | $10.80 | (12.98)% | 1.88% | 1.93% | 3.77% | 3.72% | 18% | $35 |
| 2021<sup>(4)</sup> | $10.00 | (0.01) | 2.89 | 2.88 | (0.07) |  | (0.07) | $12.81 | 28.86% | 1.88% | 1.94% | (0.67)% | (0.73)% | 17% | $32 |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | **For a Share Outstanding Throughout the Years Ended July 31 (except as noted)** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Distributions From:** | **Distributions From:** | **Distributions From:** | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Net <br>Investment <br>Income** | **Net <br>Realized <br>Gains** | **Total <br>Distributions** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | **One Choice 2065 Portfolio** | | |
| **R Class** | | | | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $13.60 | 0.25 | 1.02 | 1.27 | (0.23) | (0.52) | (0.75) | $14.12 | 9.53% | 1.38% | 1.44% | 3.35% | 3.29% | 25% | $57975 |
| 2025 | $12.56 | 0.16 | 1.14 | 1.30 | (0.18) | (0.08) | (0.26) | $13.60 | 10.55% | 1.38% | 1.44% | 1.29% | 1.23% | 8% | $49076 |
| 2024 | $11.32 | 0.14 | 1.24 | 1.38 | (0.13) | (0.01) | (0.14) | $12.56 | 12.28% | 1.38% | 1.45% | 1.20% | 1.13% | 8% | $32679 |
| 2023 | $10.83 | 0.09 | 0.77 | 0.86 | (0.11) | (0.26) | (0.37) | $11.32 | 8.46% | 1.41% | 1.47% | 0.87% | 0.81% | 19% | $18382 |
| 2022 | $12.85 | 0.54 | (2.08) | (1.54) | (0.46) | (0.02) | (0.48) | $10.83 | (12.57)% | 1.38% | 1.43% | 4.27% | 4.22% | 18% | $6927 |
| 2021<sup>(4)</sup> | $10.00 | (0.02) | 2.95 | 2.93 | (0.08) |  | (0.08) | $12.85 | 29.44% | 1.38% | 1.44% | (0.17)% | (0.23)% | 17% | $1688 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $13.67 | 0.31 | 1.03 | 1.34 | (0.36) | (0.52) | (0.88) | $14.13 | 9.97% | 0.53% | 0.60% | 4.20% | 4.13% | 25% | $43459 |
| 2025 | $12.63 | 0.28 | 1.13 | 1.41 | (0.29) | (0.08) | (0.37) | $13.67 | 11.45% | 0.53% | 0.60% | 2.14% | 2.07% | 8% | $40142 |
| 2024 | $11.38 | 0.24 | 1.24 | 1.48 | (0.22) | (0.01) | (0.23) | $12.63 | 13.26% | 0.53% | 0.61% | 2.05% | 1.97% | 8% | $26895 |
| 2023 | $10.89 | 0.18 | 0.77 | 0.95 | (0.20) | (0.26) | (0.46) | $11.38 | 9.37% | 0.56% | 0.64% | 1.72% | 1.64% | 19% | $17636 |
| 2022 | $12.92 | 0.66 | (2.10) | (1.44) | (0.57) | (0.02) | (0.59) | $10.89 | (11.81)% | 0.53% | 0.60% | 5.12% | 5.05% | 18% | $10883 |
| 2021<sup>(4)</sup> | $10.00 | 0.06 | 2.97 | 3.03 | (0.11) |  | (0.11) | $12.92 | 30.44% | 0.53% | 0.61% | 0.68% | 0.60% | 17% | $3224 |

---

**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.

(3)Six months ended January 31, 2026 (unaudited).

(4)September 23, 2020 (fund inception) through July 31, 2021.

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | **For a Share Outstanding Throughout the Period Indicated** | | |
| **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | **Per-Share Data** | | | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** | **Ratios and Supplemental Data** |
| | | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | **Income From Investment Operations\*:** | | | | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | **Ratio to Average Net Assets of**<sup>†</sup>**:** | | |
| | **Net Asset <br>Value, <br>Beginning <br>of Period** | **Net** <br>**Investment** <br>**Income** <br>**(Loss)**<sup>(1)</sup> | **Net <br>Realized <br>and <br>Unrealized <br>Gain (Loss)** | **Total From <br>Investment <br>Operations** | **Distributions From<br>Net <br>Investment <br>Income** | **Net Asset <br>Value, <br>End of Period** | **Total** <br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Operating <br>Expenses <br>(before <br>expense <br>waiver)** | **Net <br>Investment <br>Income <br>(Loss)** | **Net <br>Investment <br>Income (Loss) (before expense waiver)** | **Portfolio <br>Turnover <br>Rate** | **Net <br>Assets, <br>End of <br>Period (in thousands)** |
| **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | **One Choice 2070 Portfolio** | | |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2026<sup>(3)</sup> | $10.00 | 0.12 | 0.26 | 0.38 | (0.21) | $10.17 | 3.88% | 0.88% | 0.94% | 7.08% | 7.02% | 2% | $437 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.00 | 0.19 | 0.19 | 0.38 | (0.21) | $10.17 | 3.90% | 0.68% | 0.74% | 7.28% | 7.22% | 2% | $26 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.00 | 0.11 | 0.26 | 0.37 | (0.21) | $10.16 | 3.76% | 1.13% | 1.19% | 6.83% | 6.77% | 2% | $68 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.00 | 0.17 | 0.19 | 0.36 | (0.20) | $10.16 | 3.69% | 1.88% | 1.94% | 6.08% | 6.02% | 2% | $26 |
| **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.00 | 0.05 | 0.32 | 0.37 | (0.21) | $10.16 | 3.74% | 1.38% | 1.44% | 6.58% | 6.52% | 2% | $167 |
| **R6 Class** | **R6 Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2026<sup>(3)</sup> | $10.00 | 0.20 | 0.18 | 0.38 | (0.21) | $10.17 | 3.91% | 0.53% | 0.60% | 7.43% | 7.36% | 2% | $26 |

---

**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.

(3)December 1, 2025 (fund inception) through January 31, 2026 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement 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.

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Approval of Management Agreements

At a meeting held on September 19, 2025, the Funds' 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 each 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, annually following an initial two-year period.

Under the management agreement, the Advisor is paid a management fee by each Fund. Separately, the Advisor has agreed to waive all management fees associated with the Funds' investments in the underlying American Century Investments funds in which each Fund invests (the "Underlying Funds"). Each year the Board of Directors approves a management fee for each Fund based on the portfolio managers' estimate of the most conservative (i.e., least expensive) allocation of the Fund's net assets to the Underlying Funds for the coming year. In approving the management agreement, the Board considered the Advisor's representation that the management fees will be less than or equal to what the Funds would have otherwise paid to the Underlying Funds.

Prior to its consideration of the renewal of the Funds' management agreement, the Directors requested and reviewed data and information compiled by the Advisor and certain independent data providers concerning the Funds. This review was in addition to the oversight and evaluation undertaken by the Board and its committees on a continual basis and the information received was supplemental to the information that the Board and its committees receive and consider over time, including in connection with the review of other funds in the complex.

In connection with its consideration of the renewal of the Funds' 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 following:

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• each Fund's investment performance compared to appropriate benchmarks and/or peer groups of other mutual funds with similar investment objectives and strategies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of owning each Fund compared to the cost of owning similarly managed funds;

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's business continuity plans, vendor management practices, and information security practices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the cost of services provided to each Fund, the profitability of the Funds to the Advisor, and the Advisor's financial results of operation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• possible economies of scale associated with the Advisor's management of the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any collateral benefits derived by the Advisor from the management of the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fees and expenses associated with any investment by the Funds in other funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• payments to financial intermediaries by Funds and the Advisor and services provided by intermediaries in connection therewith; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• services provided and charges to the Advisor's other investment management clients.

The Board held a meeting to consider the renewal. The independent Directors also met on three occasions in private session to review and discuss the information provided in response to their request. The independent Directors held active discussions with the Advisor regarding the renewal of the management agreement, requesting supplemental information from the Advisor and an independent data provider, and reviewing information provided in response thereto. 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 provider, 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 each 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 without limitation 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 each Fund. The Board noted that the Advisor provides or arranges at its own expense a wide variety of services which include, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• constructing and designing each Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• portfolio research and security selection

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• initial capitalization/funding

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• securities trading

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Fund administration

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• custody of Fund assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• daily valuation of each Fund's portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity monitoring and management

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• risk management, including information security

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• shareholder servicing and transfer agency, including shareholder confirmations, recordkeeping, and communications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• legal services (except the independent Directors' counsel)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• regulatory and portfolio compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• financial reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• marketing and distribution (except amounts paid by each 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 Funds 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 each Fund in accordance with its investment objectives and principal investment strategies. Further, the Directors recognize that the Advisor has an obligation to monitor trading activities, and in particular to seek the best execution of fund trades, and to evaluate the use of and payment for research. 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 Fund Performance Review Committee, provides oversight of the investment performance process. It regularly reviews investment performance information for each 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 from both the Advisor and an independent third party during the management agreement renewal process. If performance concerns are identified, the Board discusses with the Advisor the reasons for such results and any actions being taken to improve performance and may conduct special reviews until performance improves.

The Board discussed the Funds' performance with the Advisor. The independent Directors requested, and the Advisor provided additional information relevant to the independent Directors' review. This information was supplemented by information requested by the independent Directors from a third-party provider of industry data. In addition, Advisor personnel met with the independent Directors and provided additional information and insight that addressed the independent Directors' follow-up questions and provided important detail and perspective on fund performance and the marketing strategy for the funds with both institutional and retail customers. The discussions included, among other things, the impact of the Funds' investment strategy and glide path on performance relative to their peers and, as a result, makes comparisons challenging. The independent Directors found that the Funds' performance has been consistent over time with their investment policies and construction given market conditions, noting that fund shareholders have generally selected these products based on their specific investment approach and the Directors discussed with the Advisor the importance of disclosures that explain the unique characteristics of the Funds' glide path and approach to helping investors meet their investment objectives. The Board found the investment management services provided by the Advisor to each Fund to be satisfactory and consistent with the management agreement.

**Shareholder and Other Services.** Under the management agreement, the Advisor provides the Funds 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, auditing services, and legal and operational compliance activities. The Board found the services provided by the Advisor to each 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 Funds, its profitability in managing each Fund (pre- and post-distribution), and its financial results of operation. The Directors have reviewed with the Advisor the methodology used to prepare this financial information and determined that the allocation methodology was reasonable. This information was 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 Funds.

**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 each 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 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 content and services.

**Comparison to Other Funds' Fees.** The management agreement provides that each 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 the unified fee structure, the Advisor is responsible for providing all 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, distribution charges, 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 ratios of its peer expense universe and a narrower set of its expense group peers. In those instances where the fee level exceeds that of industry peers, the Board discussed with the Advisor the factors that impacted the level of the Fund's fee in relation to its peers. The Board concluded that the management fee paid by each 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 Directors 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 Funds. They observed that these varying types of client accounts require different services and involve different regulatory and entrepreneurial risks than the management of each Fund. The Board analyzed this information and concluded that the fees charged and services provided to the Funds were reasonable by comparison.

**Payments to Intermediaries.** The Directors also requested and received a description of payments made to intermediaries by each Fund and the Advisor and services provided in response thereto. These payments include various payments made by each Fund or the Advisor to different types of intermediaries and recordkeepers for distribution and service activities provided for each Fund. The Board reviewed such information and received representations from the Advisor that all such payments by the Funds were made pursuant to each 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 Funds. They concluded 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. To the extent there are potential collateral benefits, the Board has been advised and has taken this into consideration in its review of the management contract with the Funds. The Board noted that additional assets from other clients may offer the Advisor some benefit from increased leverage with prospective clients, service providers, and counterparties. Additionally, the Advisor may receive proprietary research from broker-dealers that execute fund portfolio transactions, which the Board concluded is likely to benefit other clients of the Advisor, as well as Fund shareholders. The Board also determined that the Advisor is able to provide investment management services to certain clients other than the Funds, at least in part, due to its existing infrastructure built to serve the fund complex.

**Existing Relationship.** The Board also considered whether there was any reason to not continue the existing arrangement with the Advisor. In this regard, the Board was mindful of the potential disruptions of the Funds' 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 Funds 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 each Fund.

Set forth below are certain of the Fund-specific factors that the Board considered in addition to the other factors described herein:

**One Choice In Retirement Portfolio -** The Fund's performance was above its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was above the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.04% for Investor, A, C, and R Classes, 0.06% for I Class, and 0.10% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.78% to 0.74%) for at least one year, beginning August 1, 2025.

**One Choice 2030 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the

------

narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.02% for Investor, A, C, and R Classes, 0.04% for I Class, and 0.08% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.80% to 0.78%) for at least one year, beginning August 1, 2025.

**One Choice 2035 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.02% for Investor, A, C, and R Classes, 0.03% for I Class, and 0.07% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.83% to 0.81%) for at least one year, beginning August 1, 2025.

**One Choice 2040 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.02% for Investor, A, C, and R Classes, 0.03% for I Class, and 0.07% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.85% to 0.83%) for at least one year, beginning August 1, 2025.

**One Choice 2045 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.02% for Investor, A, C, and R Classes, 0.03% for I Class, and 0.06% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.88% to 0.86%) for at least one year, beginning August 1, 2025.

**One Choice 2050 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.03% for Investor, A, C, and R Classes, 0.04% for I Class, and 0.06% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.90% to 0.87%) for at least one year, beginning August 1, 2025.

**One Choice 2055 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, five-, and ten-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, five-, and ten-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.04% for Investor, A, C, and R Classes, 0.05% for I Class, and 0.06% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.92% to 0.88%) for at least one year, beginning August 1, 2025.

**One Choice 2060 Portfolio -** The Fund's performance was below its benchmark for the one-, three-, and five-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one-, three-, and five-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.05% for Investor, I, A, C, and R Classes, and 0.07% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.93% to 0.88%) for at least one year, beginning August 1, 2025.

**One Choice 2065 Portfolio -** The Fund's performance was below its benchmark for the one- and three-year

periods reviewed by the Board. In relation to industry peers, the Fund was below the median of its peer performance universe as identified by a third-party service provider for the one- and three-year periods. The unified fee charged to shareholders of the Fund was above the median of the total expense ratios of the Fund's peer expense universe. In addition, the Board reviewed the Fund's position relative to the narrower set of its expense group peers. The Board and the Advisor agreed to a temporary reduction of the Fund's annual unified management fee of 0.06% for Investor, I, A, C, and R Classes, and 0.08% for R6 Class (e.g., the Investor Class unified fee will be reduced from 0.94% to 0.88%) for at least one year, beginning August 1, 2025.

------

**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, determined that the terms of the management agreement with the Funds are fair and reasonable and that the management fee charged to each Fund is reasonable in light of the services provided and that the management agreement between the Funds and the Advisor should be renewed for an additional one-year period.

**One Choice 2070 Portfolio**

At a meeting held on March 5, 2025, the Fund's Board of Directors (the "Board") unanimously approved the initial management agreement pursuant to which American Century Investment Management, Inc. (the "Advisor") acts as the investment advisor for the One Choice 2070 Portfolio (the "New Fund"). Under the Investment Company Act of 1940, new contracts for investment advisory services are required to be approved by a majority of a fund's independent Directors.

In advance of the Board's consideration, the Advisor provided information concerning the New Fund. The materials reviewed and the discussions held detailed the investment objective and strategy proposed to be utilized by the Advisor, the New Fund's characteristics and key attributes, the rationale for launching the New Fund, the experience of the staff designated to manage the New Fund, the proposed pricing, and the markets in which the New Fund would be sold. The information considered and the discussions held included, but were not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the nature, extent, and quality of investment management and other services to be provided to the New Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the wide range of other programs and services the Advisor would provide to the New Fund and its shareholders on a routine and non-routine basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the New Fund's proposed investment objective and strategy, including a discussion of its anticipated investment performance and proposed benchmark;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Advisor's compliance policies, procedures, and regulatory experience; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any collateral benefits derived by the Advisor from the management of the New Fund.

Part of the Board's analysis of fee levels involves reviewing certain evaluative data compiled by an independent provider and comparing the New Fund's fee to the total expense ratio of expected peer funds. The annual management fees charged to shareholders of the New Fund were anticipated to be below the median of the total expense ratios of the fund's expected peer universe.

When considering the approval of the management agreement for the New Fund, the independent Directors considered the entrepreneurial risk that the Advisor assumes in launching a new fund. In particular, they considered the fact that the Advisor will assume a substantial part of the start-up costs of the New Fund and the risk that the New Fund will not grow to a level that will become profitable to the Advisor. The Board considered the position that the New Fund would take in the lineup of the American Century Investments' family of funds and the benefits to shareholders of existing funds of the broadened product offering. Finally, while not specifically discussed, but important in the decision to approve the management agreement, is the Directors' familiarity with the Advisor. A majority of the Board oversees and evaluates on a continuous basis the nature and quality of all services the Advisor performs for other funds within the American Century Investments' complex. As such, the Directors have confidence in the Advisor's integrity and competence in providing services to the New Fund.

The independent Directors considered all of the information provided by the Advisor and the independent Directors' independent counsel in connection with the approval, and evaluated such information for the New 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. The independent Directors concluded that the terms of the management agreement were fair and reasonable and that the management fee to be charged to the New Fund is reasonable in light of the services to be provided and should be approved.

------

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| | |
|:---|:---|
| Contact Us | americancentury.com |
| Automated Information Line | 1-800-345-8765 |
| Investor Services Representative | 1-800-345-2021<br>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.* | *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.* |
| **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-91633 2603** | **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-91633 2603** |

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(b) The information required by Item 13 of Form N-1A is included as part of the financial statements filed under Item 7(a) of this Form.

**ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

None.

**ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.**

The remuneration paid to directors, officers and others is included as part of the financial statements and other information filed under Item 7 of this Form.

**ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.**

A statement regarding the basis for the board of directors' approval of the investment advisory contract is included as part of the financial statements and other information filed under Item 7 of this Form.<br>

**ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.**

Not applicable.

**ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.**

During the reporting period, there were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board.

**ITEM 16. CONTROLS AND PROCEDURES.**

------

(a) The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

**ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.**

Not applicable.

**ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.**

(a) Not applicable.

(b) Not applicable.

**ITEM 19. EXHIBITS.** 

(a)(1) Not applicable for semiannual report filings.

(a)(2) Not applicable for semiannual report filings.

(a)(3) <u>[Separate certifications by the registrant's principal executive officer and principal financial officer](acaapex-99cert.htm)</u>, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are filed and attached hereto as EX-99.CERT.

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) <u>[A certification by the registrant's chief executive officer and chief financial officer](acaapex-99906cert.htm)</u>, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, is furnished and attached hereto as EX- 99.906CERT.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
| Registrant: | American Century Asset Allocation Portfolios, Inc. | American Century Asset Allocation Portfolios, Inc. |
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
| Date: | March 27, 2026 | March 27, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
|  |  | (principal executive officer) |
| Date: | March 27, 2026 | March 27, 2026 |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ R. Wes Campbell | /s/ R. Wes Campbell |
|  | Name: | R. Wes Campbell |
|  | Title: | Treasurer and |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |
| Date: | March 27, 2026 | March 27, 2026 |

---

## Ex-99

EX-99.CERT

CERTIFICATIONS

I, Patrick Bannigan, certify that:

1. I have reviewed this report on Form N-CSR of American Century Asset Allocation Portfolios, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: | March 27, 2026 |
| /s/ Patrick Bannigan | /s/ Patrick Bannigan |
| Patrick Bannigan | Patrick Bannigan |
| President | President |
| (principal executive officer) | (principal executive officer) |

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------

I, R. Wes Campbell, certify that:

1. I have reviewed this report on Form N-CSR of American Century Asset Allocation Portfolios, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: | March 27, 2026 |
| /s/ R. Wes Campbell | /s/ R. Wes Campbell |
| R. Wes Campbell | R. Wes Campbell |
| Treasurer and Chief Financial Officer | Treasurer and Chief Financial Officer |
| (principal financial officer) | (principal financial officer) |

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## Exhibit 99.906

EX-99.906CERT

**CERTIFICATION** 

**<u>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</u>**

&nbsp;&nbsp;&nbsp;&nbsp;

In connection with the shareholder report of American Century Asset Allocation Portfolios, Inc. (the "Registrant") on Form N-CSR for the period ending January 31, 2026 (the "Report"), we, the undersigned, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

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| | | | |
|:---|:---|:---|:---|
| Date: | March 27, 2026 |  |  |
|  |  | By: | /s/ Patrick Bannigan |
|  |  |  | Patrick Bannigan |
|  |  |  | President |
|  |  |  | (chief executive officer) |
|  |  | By: | /s/ R. Wes Campbell |
|  |  |  | R. Wes Campbell |
|  |  |  | Treasurer and Chief Financial Officer |
|  |  |  | (chief financial officer) |

---

<br>