# EDGAR Filing Document

**Accession Number:** 0000757928
**File Stem:** 0001193125-25-190127
**Filing Date:** 2025-8
**Character Count:** 17752
**Document Hash:** 3ef7394ea1609a33dcdd4bc87e8c987a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-190127.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001193125-25-190127

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY TARGET MATURITIES TRUST
- **CENTRAL INDEX KEY:** 0000757928

**ORGANIZATION NAME:**
- **EIN:** 431920414
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04165
- **FILM NUMBER:** 251267063

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

**MAIL ADDRESS:**
- **STREET 1:** 4500 MAIN STREET
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BENHAM TARGET MATURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### ZERO COUPON 2025 FUND (Series ID: S000005945)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016392 | INVESTOR CLASS | BTTRX           |
| C000016393 | ADVISOR CLASS  | ACTVX           |

## Nport-Ex

**American Century Investments**<sup>®</sup>

**Quarterly Portfolio Holdings**

**Zero Coupon 2025 Fund**

**June 30, 2025**

------

---

| |
|:---|
| **<u>Zero Coupon 2025 - Schedule of Investments</u>** |
| **JUNE 30, 2025 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| | **Principal**<br>**Amount ($)/Shares** | **Value ($)** |
| **ZERO-COUPON U.S. TREASURY SECURITIES AND EQUIVALENTS**<sup>(1)</sup> **— 36.1%** |  |  |
| Resolution Funding Corp. Interest STRIPS, 0.00%, 1/15/26 | 16800000 | 16431264 |
| Resolution Funding Corp. Interest STRIPS, 0.00%, 4/15/26 | 19112000 | 18500442 |
| U.S. Treasury STRIPS Coupon, 0.00%, 8/15/25 | 2600000 | 2587386 |
| **TOTAL ZERO-COUPON U.S. TREASURY SECURITIES AND EQUIVALENTS** <br>(Cost $37,249,701) |  | **37519092** |
| **SHORT-TERM INVESTMENTS — 58.4%** |  |  |
| **Discount Notes**<sup>(2)</sup> **— 2.9%** |  |  |
| Federal Home Loan Bank Discount Notes, 4.20%, 7/1/25 | 3000000 | 2999653 |
| **Money Market Funds — 4.0%** |  |  |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 4207167 | 4207167 |
| **Treasury Bills**<sup>(2)</sup> **— 51.5%** |  |  |
| U.S. Treasury Bills, 4.33%, 7/3/25 | 2000000 | 1999534 |
| U.S. Treasury Bills, 4.30%, 7/17/25 | 1000000 | 998162 |
| U.S. Treasury Bills, 4.41%, 8/5/25 | 4000000 | 3983472 |
| U.S. Treasury Bills, 4.54%, 8/7/25 | 6000000 | 5973819 |
| U.S. Treasury Bills, 4.42%, 8/14/25 | 3000000 | 2984238 |
| U.S. Treasury Bills, 4.34%, 8/19/25 | 19000000 | 18888603 |
| U.S. Treasury Bills, 4.35%, 9/9/25 | 10000000 | 9918123 |
| U.S. Treasury Bills, 4.27%, 9/11/25 | 2000000 | 1983066 |
| U.S. Treasury Bills, 4.18%, 10/30/25 | 7000000 | 6901578 |
|  |  | 53630595 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $60,843,233) |  | **60837415** |
| **TOTAL INVESTMENT SECURITIES — 94.5%**<br>(Cost $98,092,934) |  | **98356507** |
| **OTHER ASSETS AND LIABILITIES — 5.5%** |  | **5770780** |
| **TOTAL NET ASSETS — 100.0%** |  | $**104127287** |

---

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| Equivalent | – | Security whose payments are secured by the U.S. Treasury |
| STRIPS | – | Separate Trading of Registered Interest and Principal of Securities |

---

(1)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.

(2)The rate indicated is the yield to maturity at purchase for non-interest bearing securities. For interest bearing securities, the stated coupon rate is shown.

------

**SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS** 

**1. Investment Valuations**

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

Fixed income securities are valued at the evaluated bid as provided by independent pricing services or at the most recent bid as provided by investment dealers. U.S. Treasury and Government Agency securities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Open-end management investment companies are valued at the reported NAV per share.

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

The valuation designee monitors for significant events occurring after the close of an investment's primary exchange but before the fund's NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.

**2. Fair Value Measurements**

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels.

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

• Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars.

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

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.

The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero-Coupon U.S. Treasury Securities and Equivalents |  | $37519092 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | $4207167 | 56630248 |  |
|  | $4207167 | $94149340 |  |

---

*This schedule of investments provides information about the fund's portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund's most recent annual or semiannual shareholder report.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** American Century Target Maturities Trust

- **b. Investment Company Act file number:** 811-04165

- **c. CIK number of Registrant:** 0000757928

- **d. LEI of Registrant:** 549300BXO6JHN8LP3244

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 4500 Main St

  - **City:** Kansas City

  - **State:** MO

  - **Foreign country:** US

  - **Zip / Postal Code:** 64111

  - **Telephone number:** 816-531-5575

**Item A.2. Information about the Series.**

- **a. Name of Series:** Zero Coupon 2025 Fund

- **b. EDGAR series identifier (if any):** S000005945

- **c. LEI of Series:** 5493002SUGNE416N5L35

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $104274769.97

**Total Liabilities:** $47823.76

**Net Assets:** $104226946.21

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000016392 | 0.37%                | 0.25%                | 0.32%                |
| Class ID C000016393 | 0.35%                | 0.23%                | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $29319.16                | $4152.27                                   |
| Month 2  | $40936.02                | $-164447.17                                |
| Month 3  | $-9053.03                | $16103.39                                  |

### Schedule of Portfolio Investments

| Name                                                       | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federal Home Loan Banks                                    | Federal Home Loan Bank Discount Notes 0.00 07/01/2025      | CUSIP: 313385HP4<br>LEI: 2549001DPIFGXC1TOL40 | Long             | STIV             | USGA              | US        |   3000000 | PA      | $2999653.32   | 2.88%             | 2025-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Resolution Funding Corp Interest Strip                     | Resolution Funding Corp Interest Strip 0.00 01/15/2026     | CUSIP: 76116EGH7<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |  16800000 | PA      | $16431264.19  | 15.76%            | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Resolution Funding Corp Interest Strip                     | Resolution Funding Corp Interest Strip 0.00 04/15/2026     | CUSIP: 76116EHF0<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |  19112000 | PA      | $18500441.99  | 17.75%            | 2026-04-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |   4207167 | NS      | $4207167.07   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennessee Valley Authority                                 | Tennessee Valley Authority Principal Strip 0.00 11/01/2025 | CUSIP: 88059FAV3<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |   6000000 | PA      | $5912241.60   | 5.67%             | 2025-11-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 08/07/2025                | CUSIP: 912797MG9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6000000 | PA      | $5973818.64   | 5.73%             | 2025-08-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Strip Coupon 0.00 08/15/2025        | CUSIP: 912833LW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | USGA              | US        |   2600000 | PA      | $2587385.42   | 2.48%             | 2025-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 09/09/2025                | CUSIP: 912797QT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9918122.70   | 9.52%             | 2025-09-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 10/30/2025                | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6901577.41   | 6.62%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 07/03/2025                | CUSIP: 912797NX1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1999534.34   | 1.92%             | 2025-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 07/17/2025                | CUSIP: 912797PE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $998162.22    | 0.96%             | 2025-07-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 08/14/2025                | CUSIP: 912797PN1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2984237.91   | 2.86%             | 2025-08-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 09/11/2025                | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1983066.00   | 1.90%             | 2025-09-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 08/05/2025                | CUSIP: 912797QH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3983472.24   | 3.82%             | 2025-08-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| U.S. TREASURY                                              | United States Treasury Bill 0.00 08/19/2025                | CUSIP: 912797QK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19000000 | PA      | $18888603.19  | 18.12%            | 2025-08-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-27

**Name of Applicant:** American Century Target Maturities Trust

**Signature:** Amy R. Bitter

**Name of Signer:** Amy R. Bitter

**Title:** Assistant Treasurer