# EDGAR Filing Document

**Accession Number:** 0000827060
**File Stem:** 0000827060-26-000002
**Filing Date:** 2026-2
**Character Count:** 277003
**Document Hash:** a57d29a5fdaa41f4def3b7c3c53ff62e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000827060-26-000002.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0000827060-26-000002

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 19

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**EFFECTIVENESS DATE**: 20260226

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000827060

**ORGANIZATION NAME:**
- **EIN:** 431819235
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05447
- **FILM NUMBER:** 26685487

**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
- **STREET 2:** 9TH FLOOR
- **CITY:** KANSAS CITY
- **STATE:** MO
- **ZIP:** 64111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS
- **DATE OF NAME CHANGE:** 19970107

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BENHAM EQUITY FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BENHAM EQUITIES INC
- **DATE OF NAME CHANGE:** 19880821

## Series and Classes Contracts Data

### DISCIPLINED GROWTH FUND (Series ID: S000005976)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016462 | INVESTOR CLASS | ADSIX           |
| C000016463 | A CLASS        | ADCVX           |
| C000016464 | I CLASS        | ADCIX           |
| C000016465 | R CLASS        | ADRRX           |
| C000055501 | C CLASS        | ADCCX           |
| C000189758 | Y CLASS        | ADCYX           |
| C000189759 | R5 CLASS       | ADGGX           |

### EQUITY GROWTH FUND (Series ID: S000005977)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016466 | INVESTOR CLASS | BEQGX           |
| C000016467 | A CLASS        | BEQAX           |
| C000016468 | I CLASS        | AMEIX           |
| C000016469 | C CLASS        | AEYCX           |
| C000016470 | R CLASS        | AEYRX           |
| C000189760 | R5 CLASS       | AEYGX           |

### GLOBAL GOLD FUND (Series ID: S000005978)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016471 | INVESTOR CLASS | BGEIX           |
| C000016472 | A CLASS        | ACGGX           |
| C000055503 | I CLASS        | AGGNX           |
| C000055505 | C CLASS        | AGYCX           |
| C000055506 | R CLASS        | AGGWX           |

### DISCIPLINED CORE VALUE FUND (Series ID: S000005979)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016473 | INVESTOR CLASS | BIGRX           |
| C000016474 | A CLASS        | AMADX           |
| C000016475 | I CLASS        | AMGIX           |
| C000016476 | C CLASS        | ACGCX           |
| C000016477 | R CLASS        | AICRX           |
| C000189761 | R5 CLASS       | AICGX           |

### SMALL COMPANY FUND (Series ID: S000005981)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016484 | INVESTOR CLASS | ASQIX           |
| C000016485 | A CLASS        | ASQAX           |
| C000016486 | I CLASS        | ASCQX           |
| C000016487 | R CLASS        | ASCRX           |
| C000088007 | C CLASS        | ASQCX           |
| C000189764 | R5 CLASS       | ASQGX           |

### UTILITIES FUND (Series ID: S000005982)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000016488 | INVESTOR CLASS | BULIX           |

?xml version='1.0' encoding='ASCII'? ck0000827060-20251231

**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 | **811-05447** | **811-05447** | **811-05447** |
| **AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.** | **AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.** | **AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.** | **AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, INC.** | **AMERICAN CENTURY QUANTITATIVE EQUITY FUNDS, 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: | **06-30** | **06-30** | **06-30** | **06-30** |
| Date of reporting period: | **12-31-2025** | **12-31-2025** | **12-31-2025** | **12-31-2025** |

---

------

**ITEM 1. REPORTS TO STOCKHOLDERS.**

(a) Provided under separate cover.

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BIGRX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 | $35 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M303

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AMGIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 | $25 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M501

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **A Class (AMADX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 | $49 | 0.91% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M402

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ACGCX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 | $88 | 1.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M816

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AICRX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 | $62 | 1.16% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M782

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Core Value Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AICGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Core Value Fund for the period of July 1, 2025 to December 31, 2025. 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 |
| R5 Class | $25 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1911975842 |
| Management Fees (dollars paid during the reporting period) | $6100142 |
| Portfolio Turnover Rate | 54% |
| Total Number of Portfolio Holdings | 191 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Banks | 11% |
| Short-Term Investments | 0.5% | Pharmaceuticals | 6% |
| Other Assets and Liabilities | 0.0% | Consumer Staples Distribution & Retail | 5% |
|  |  | Semiconductors and Semiconductor Equipment | 5% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2508G842

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ADSIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $49 | 0.92% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M675

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ADCIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $38 | 0.72% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M667

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Y Class (ADCYX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 |
| Y Class | $36 | 0.67% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2508G875

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ADCVX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $62 | 1.17% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M642

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ADCCX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $102 | 1.92% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M527

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ADRRX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $76 | 1.42% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M659

------

**SEMIANNUAL SHAREHOLDER REPORT**

Disciplined Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ADGGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Disciplined Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 |
| R5 Class | $38 | 0.72% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $480638066 |
| Management Fees (dollars paid during the reporting period) | $2112715 |
| Portfolio Turnover Rate | 23% |
| Total Number of Portfolio Holdings | 122 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Semiconductors and Semiconductor Equipment | 21% |
| Short-Term Investments | 0.4% | Software | 19% |
| Other Assets and Liabilities | 0.0% | Technology Hardware, Storage and Peripherals | 12% |
|  |  | Interactive Media and Services | 9% |
|  |  | Financial Services | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2508G883

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BEQGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $36 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M600

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AMEIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $25 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M808

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **A Class (BEQAX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $49 | 0.91% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M709

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AEYCX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $89 | 1.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M790

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AEYRX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 | $62 | 1.16% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M766

------

**SEMIANNUAL SHAREHOLDER REPORT**

Equity Growth Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (AEYGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Equity Growth Fund for the period of July 1, 2025 to December 31, 2025. 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 |
| R5 Class | $25 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1845487776 |
| Management Fees (dollars paid during the reporting period) | $5803378 |
| Portfolio Turnover Rate | 42% |
| Total Number of Portfolio Holdings | 169 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.5% | Semiconductors and Semiconductor Equipment | 14% |
| Short-Term Investments | 0.5% | Software | 12% |
| Other Assets and Liabilities | 0.0% | Interactive Media and Services | 8% |
|  |  | Technology Hardware, Storage and Peripherals | 8% |
|  |  | Banks | 7% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2508G867

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Gold Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BGEIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Global Gold Fund for the period of July 1, 2025 to December 31, 2025. 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 | $44 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1764018149 |
| Management Fees (dollars paid during the reporting period) | $4527136 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 77 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* |
| Common Stocks | 99.3% | Canada | 49% |
| Short-Term Investments | 1.3% | Australia | 13% |
| Other Assets and Liabilities | (0.6)% | South Africa | 13% |
|  |  | United States | 12% |
|  |  | United Kingdom | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M105

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Gold Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **I Class (AGGNX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Global Gold Fund for the period of July 1, 2025 to December 31, 2025. 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 | $31 | 0.46% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1764018149 |
| Management Fees (dollars paid during the reporting period) | $4527136 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 77 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* |
| Common Stocks | 99.3% | Canada | 49% |
| Short-Term Investments | 1.3% | Australia | 13% |
| Other Assets and Liabilities | (0.6)% | South Africa | 13% |
|  |  | United States | 12% |
|  |  | United Kingdom | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M469

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Gold Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ACGGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Global Gold Fund for the period of July 1, 2025 to December 31, 2025. 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 | $61 | 0.91% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1764018149 |
| Management Fees (dollars paid during the reporting period) | $4527136 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 77 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* |
| Common Stocks | 99.3% | Canada | 49% |
| Short-Term Investments | 1.3% | Australia | 13% |
| Other Assets and Liabilities | (0.6)% | South Africa | 13% |
|  |  | United States | 12% |
|  |  | United Kingdom | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M204

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Gold Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **C Class (AGYCX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Global Gold Fund for the period of July 1, 2025 to December 31, 2025. 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 | $111 | 1.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1764018149 |
| Management Fees (dollars paid during the reporting period) | $4527136 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 77 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* |
| Common Stocks | 99.3% | Canada | 49% |
| Short-Term Investments | 1.3% | Australia | 13% |
| Other Assets and Liabilities | (0.6)% | South Africa | 13% |
|  |  | United States | 12% |
|  |  | United Kingdom | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M485

------

**SEMIANNUAL SHAREHOLDER REPORT**

Global Gold Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R Class (AGGWX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Global Gold Fund for the period of July 1, 2025 to December 31, 2025. 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 | $77 | 1.16% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $1764018149 |
| Management Fees (dollars paid during the reporting period) | $4527136 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 77 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* | **Top Five Countries** *(as a % of net assets)* |
| Common Stocks | 99.3% | Canada | 49% |
| Short-Term Investments | 1.3% | Australia | 13% |
| Other Assets and Liabilities | (0.6)% | South Africa | 13% |
|  |  | United States | 12% |
|  |  | United Kingdom | 5% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M477

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (ASQIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 | 0.86% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M840

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **I Class (ASCQX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M832

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **A Class (ASQAX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 | 1.11% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M824

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **C Class (ASQCX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 | $100 | 1.86% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M329

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R Class (ASCRX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 | 1.36% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M774

------

**SEMIANNUAL SHAREHOLDER REPORT**

Small Company Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **R5 Class (ASQGX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Small Company Fund for the period of July 1, 2025 to December 31, 2025. 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 |
| R5 Class | $35 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $156315747 |
| Management Fees (dollars paid during the reporting period) | $651743 |
| Portfolio Turnover Rate | 45% |
| Total Number of Portfolio Holdings | 289 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* | **Top Five Industries** *(as a % of net assets)* |
| Common Stocks | 99.6% | Banks | 8% |
| Rights | 0.0% | Software | 7% |
| Short-Term Investments | 2.2% | Biotechnology | 7% |
| Other Assets and Liabilities | (1.8)% | Construction and Engineering | 5% |
|  |  | Pharmaceuticals | 4% |

---

*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](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2508G826

------

**SEMIANNUAL SHAREHOLDER REPORT**

Utilities Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| **Investor Class (BULIX)**  | **December 31, 2025** |

---

This semi-annual shareholder report contains important information about Utilities Fund for the period of July 1, 2025 to December 31, 2025. 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 | $34 | 0.66% |

---

---

| | |
|:---|:---|
| **Fund Statistics**  | |
| Net Assets | $284987078 |
| Management Fees (dollars paid during the reporting period) | $949904 |
| Portfolio Turnover Rate | 31% |
| Total Number of Portfolio Holdings | 34 |

---

**Fund Holdings**

---

| | | | |
|:---|:---|:---|:---|
| **Types of Investments in Portfolio** *(as a % of net assets)* | **Types of Investments in Portfolio** *(as a % of net assets)* | **Top Five Sub-Industries** *(as a % of net assets)* | **Top Five Sub-Industries** *(as a % of net assets)* |
| Common Stocks | 99.2% | Electric Utilities | 62% |
| Short-Term Investments | 0.7% | Multi-Utilities | 22% |
| Other Assets and Liabilities | 0.1% | Gas Utilities | 8% |
|  |  | Independent Power Producers and Energy Traders | 6% |
|  |  | Water Utilities | 2% |

---

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

![QR ACI Docs.jpg](ck0000827060-20251231_g2.jpg)

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

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

S-2507M881

------

(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;

![ACI_Horiz_RGB_Black.jpg](ck0000827060-20251231_g1.jpg)

---

| | |
|:---|:---|
| Semiannual Financial Statements and Other Information | Semiannual Financial Statements and Other Information |
| December 31, 2025 |  |
| Disciplined Core Value Fund | Global Gold Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (BIGRX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (BGEIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AMGIX) | &nbsp;&nbsp;&nbsp;&nbsp;I Class (AGGNX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (AMADX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (ACGGX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (ACGCX) | &nbsp;&nbsp;&nbsp;&nbsp;C Class (AGYCX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AICRX) | &nbsp;&nbsp;&nbsp;&nbsp;R Class (AGGWX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (AICGX) | Small Company Fund |
| Disciplined Growth Fund | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ASQIX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (ADSIX) | &nbsp;&nbsp;&nbsp;&nbsp;I Class (ASCQX) |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (ADCIX) | &nbsp;&nbsp;&nbsp;&nbsp;A Class (ASQAX) |
| &nbsp;&nbsp;&nbsp;&nbsp;Y Class (ADCYX) | &nbsp;&nbsp;&nbsp;&nbsp;C Class (ASQCX) |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (ADCVX) | &nbsp;&nbsp;&nbsp;&nbsp;R Class (ASCRX) |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (ADCCX) | &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ASQGX) |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (ADRRX) | Utilities Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (ADGGX) | &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (BULIX) |
| Equity Growth Fund |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investor Class (BEQGX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;I Class (AMEIX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;A Class (BEQAX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;C Class (AEYCX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;R Class (AEYRX) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;R5 Class (AEYGX) |  |

---

***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](#if9fc9c022785433989b219c22d27adff_31) |
| Statements of Assets and Liabilities | [32](#if9fc9c022785433989b219c22d27adff_37) |
| Statements of Operations | [35](#if9fc9c022785433989b219c22d27adff_40) |
| Statements of Changes in Net Assets | [38](#if9fc9c022785433989b219c22d27adff_43) |
| Notes to Financial Statements | [41](#if9fc9c022785433989b219c22d27adff_46) |
| Financial Highlights | [51](#if9fc9c022785433989b219c22d27adff_49) |

---

------

Schedule of Investments - Disciplined Core Value Fund

**DECEMBER 31, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.5%** | **Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 0.8%** | | |
| Lockheed Martin Corp. | 33418 | $16163284 |
| **Air Freight and Logistics — 0.9%** |  |  |
| FedEx Corp. | 54996 | 15886144 |
| United Parcel Service, Inc., Class B | 9484 | 940718 |
|  |  | 16826862 |
| **Automobile Components — 1.0%** |  |  |
| Aptiv PLC<sup>(1)</sup> | 127999 | 9739444 |
| Autoliv, Inc. | 28017 | 3325618 |
| BorgWarner, Inc. | 128396 | 5785524 |
|  |  | 18850586 |
| **Banks — 11.3%** |  |  |
| Bank of America Corp. | 458623 | 25224265 |
| Citigroup, Inc. | 401694 | 46873673 |
| JPMorgan Chase & Co. | 231032 | 74443131 |
| Truist Financial Corp. | 470629 | 23159653 |
| U.S. Bancorp | 761801 | 40649702 |
| Wells Fargo & Co. | 66831 | 6228649 |
|  |  | 216579073 |
| **Beverages — 0.4%** |  |  |
| Monster Beverage Corp.<sup>(1)</sup> | 54369 | 4168471 |
| PepsiCo, Inc. | 26147 | 3752618 |
|  |  | 7921089 |
| **Biotechnology — 4.3%** |  |  |
| AbbVie, Inc. | 68405 | 15629858 |
| Amgen, Inc. | 29589 | 9684776 |
| Exelixis, Inc.<sup>(1)</sup> | 67010 | 2937048 |
| Gilead Sciences, Inc. | 285871 | 35087807 |
| Incyte Corp.<sup>(1)</sup> | 70960 | 7008719 |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | 34953 | 4957384 |
| United Therapeutics Corp.<sup>(1)</sup> | 4147 | 2020626 |
| Vertex Pharmaceuticals, Inc.<sup>(1)</sup> | 9278 | 4206274 |
|  |  | 81532492 |
| **Broadline Retail — 0.8%** |  |  |
| Amazon.com, Inc.<sup>(1)</sup> | 47823 | 11038505 |
| Dillard's, Inc., Class A | 4955 | 3004414 |
| eBay, Inc. | 23197 | 2020459 |
|  |  | 16063378 |
| **Building Products — 1.2%** |  |  |
| A.O. Smith Corp. | 59044 | 3948863 |
| Allegion PLC | 35869 | 5711062 |
| AZZ, Inc. | 15321 | 1642105 |
| Griffon Corp. | 39566 | 2914036 |
| Masco Corp. | 126226 | 8010302 |
|  |  | 22226368 |
| **Capital Markets — 2.2%** |  |  |
| Cboe Global Markets, Inc. | 67828 | 17024828 |
| Houlihan Lokey, Inc. | 5800 | 1010302 |
| Interactive Brokers Group, Inc., Class A | 231522 | 14889180 |

---

------

Schedule of Investments - Disciplined Core Value Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| MSCI, Inc. | 16786 | $9630632 |
|  |  | 42554942 |
| **Chemicals — 0.4%** |  |  |
| Axalta Coating Systems Ltd.<sup>(1)</sup> | 89225 | 2882860 |
| Cabot Corp. | 45780 | 3034298 |
| NewMarket Corp. | 2993 | 2056969 |
|  |  | 7974127 |
| **Commercial Services and Supplies — 0.3%** |  |  |
| MSA Safety, Inc. | 9022 | 1444783 |
| Veralto Corp. | 38921 | 3883537 |
|  |  | 5328320 |
| **Communications Equipment — 1.2%** |  |  |
| Arista Networks, Inc.<sup>(1)</sup> | 15680 | 2054550 |
| Cisco Systems, Inc. | 154023 | 11864392 |
| F5, Inc.<sup>(1)</sup> | 37645 | 9609263 |
|  |  | 23528205 |
| **Construction and Engineering — 1.1%** |  |  |
| API Group Corp.<sup>(1)</sup> | 35367 | 1353141 |
| EMCOR Group, Inc. | 15083 | 9227629 |
| Granite Construction, Inc. | 25613 | 2954460 |
| MasTec, Inc.<sup>(1)</sup> | 4649 | 1010553 |
| Primoris Services Corp. | 10560 | 1310918 |
| Valmont Industries, Inc. | 14953 | 6015891 |
|  |  | 21872592 |
| **Consumer Staples Distribution & Retail — 5.4%** |  |  |
| Dollar General Corp. | 131287 | 17430975 |
| Kroger Co. | 356652 | 22283617 |
| Maplebear, Inc.<sup>(1)</sup> | 89677 | 4033671 |
| Sprouts Farmers Market, Inc.<sup>(1)</sup> | 46056 | 3669281 |
| Sysco Corp. | 123314 | 9087009 |
| Target Corp. | 233284 | 22803511 |
| U.S. Foods Holding Corp.<sup>(1)</sup> | 115072 | 8667223 |
| Walmart, Inc. | 136443 | 15201115 |
|  |  | 103176402 |
| **Containers and Packaging — 0.4%** |  |  |
| Crown Holdings, Inc. | 69476 | 7153944 |
| **Diversified Consumer Services — 0.2%** |  |  |
| ADT, Inc. | 112015 | 903961 |
| Frontdoor, Inc.<sup>(1)</sup> | 10877 | 627494 |
| Stride, Inc.<sup>(1)</sup> | 42653 | 2769459 |
|  |  | 4300914 |
| **Diversified Telecommunication Services — 2.5%** |  |  |
| AT&T, Inc. | 414021 | 10284282 |
| Verizon Communications, Inc. | 902992 | 36778864 |
|  |  | 47063146 |
| **Electric Utilities — 0.6%** |  |  |
| Evergy, Inc. | 146997 | 10655812 |
| **Electrical Equipment — 1.0%** |  |  |
| Acuity, Inc. | 17196 | 6191248 |
| Generac Holdings, Inc.<sup>(1)</sup> | 34757 | 4739812 |
| Nextpower, Inc., Class A<sup>(1)</sup> | 55311 | 4818141 |
| Regal Rexnord Corp. | 18979 | 2663133 |
|  |  | 18412334 |

---

------

Schedule of Investments - Disciplined Core Value Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Electronic Equipment, Instruments and Components — 1.6%** | | |
| Jabil, Inc. | 13672 | $3117489 |
| TE Connectivity PLC | 96484 | 21951075 |
| Zebra Technologies Corp., Class A<sup>(1)</sup> | 26763 | 6498592 |
|  |  | 31567156 |
| **Energy Equipment and Services — 2.0%** |  |  |
| SLB Ltd. | 712344 | 27339763 |
| TechnipFMC PLC | 251841 | 11222035 |
|  |  | 38561798 |
| **Entertainment — 0.3%** |  |  |
| Roku, Inc.<sup>(1)</sup> | 12530 | 1359380 |
| Spotify Technology SA<sup>(1)</sup> | 7017 | 4074842 |
|  |  | 5434222 |
| **Financial Services — 5.1%** |  |  |
| Affirm Holdings, Inc.<sup>(1)</sup> | 30344 | 2258504 |
| Berkshire Hathaway, Inc., Class B<sup>(1)</sup> | 54296 | 27291884 |
| Block, Inc.<sup>(1)</sup> | 87984 | 5726878 |
| Fiserv, Inc.<sup>(1)</sup> | 15392 | 1033881 |
| Global Payments, Inc. | 115503 | 8939932 |
| Mastercard, Inc., Class A | 45658 | 26065239 |
| PayPal Holdings, Inc. | 379107 | 22132267 |
| Visa, Inc., Class A | 10342 | 3627043 |
|  |  | 97075628 |
| **Food Products — 0.4%** |  |  |
| J.M. Smucker Co. | 53984 | 5280175 |
| Tyson Foods, Inc., Class A | 56536 | 3314140 |
|  |  | 8594315 |
| **Ground Transportation — 0.3%** |  |  |
| Lyft, Inc., Class A<sup>(1)</sup> | 91116 | 1764917 |
| Uber Technologies, Inc.<sup>(1)</sup> | 45336 | 3704404 |
|  |  | 5469321 |
| **Health Care Equipment and Supplies — 1.6%** |  |  |
| Align Technology, Inc.<sup>(1)</sup> | 41306 | 6449932 |
| LivaNova PLC<sup>(1)</sup> | 35308 | 2172501 |
| Medtronic PLC | 225058 | 21619072 |
|  |  | 30241505 |
| **Health Care Providers and Services — 4.3%** |  |  |
| Cardinal Health, Inc. | 25198 | 5178189 |
| Cigna Group | 24028 | 6613227 |
| HCA Healthcare, Inc. | 68114 | 31799702 |
| Labcorp Holdings, Inc. | 10630 | 2666854 |
| Quest Diagnostics, Inc. | 12851 | 2230034 |
| UnitedHealth Group, Inc. | 104346 | 34445658 |
|  |  | 82933664 |
| **Hotel & Resort REITs — 0.3%** |  |  |
| Host Hotels & Resorts, Inc. | 335290 | 5944692 |
| **Hotels, Restaurants and Leisure — 1.9%** |  |  |
| Airbnb, Inc., Class A<sup>(1)</sup> | 31632 | 4293095 |
| Booking Holdings, Inc. | 1139 | 6099721 |
| DoorDash, Inc., Class A<sup>(1)</sup> | 28482 | 6450603 |
| Expedia Group, Inc. | 53955 | 15285991 |
| Yum! Brands, Inc. | 27068 | 4094847 |
|  |  | 36224257 |

---

------

Schedule of Investments - Disciplined Core Value Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Household Durables — 0.1%** | | |
| DR Horton, Inc. | 19390 | $2792742 |
| **Household Products — 2.3%** |  |  |
| Church & Dwight Co., Inc. | 22454 | 1882768 |
| Colgate-Palmolive Co. | 215571 | 17034421 |
| Procter & Gamble Co. | 170814 | 24479354 |
|  |  | 43396543 |
| **Insurance — 4.1%** |  |  |
| Allstate Corp. | 16407 | 3415117 |
| Everest Group Ltd. | 4718 | 1601053 |
| Hartford Insurance Group, Inc. | 124875 | 17207775 |
| Progressive Corp. | 136023 | 30975158 |
| Travelers Cos., Inc. | 43185 | 12526241 |
| W.R. Berkley Corp. | 170953 | 11987224 |
|  |  | 77712568 |
| **Interactive Media and Services — 3.4%** |  |  |
| Alphabet, Inc., Class A | 20505 | 6418065 |
| Alphabet, Inc., Class C | 134583 | 42232145 |
| Cargurus, Inc.<sup>(1)</sup> | 81990 | 3144317 |
| Match Group, Inc. | 90421 | 2919694 |
| Meta Platforms, Inc., Class A | 11500 | 7591035 |
| Pinterest, Inc., Class A<sup>(1)</sup> | 98709 | 2555576 |
|  |  | 64860832 |
| **IT Services — 1.9%** |  |  |
| Cognizant Technology Solutions Corp., Class A | 34200 | 2838600 |
| International Business Machines Corp. | 91324 | 27051082 |
| Twilio, Inc., Class A<sup>(1)</sup> | 44173 | 6283168 |
|  |  | 36172850 |
| **Leisure Products — 0.2%** |  |  |
| Mattel, Inc.<sup>(1)</sup> | 187453 | 3719067 |
| **Machinery — 4.6%** |  |  |
| Caterpillar, Inc. | 8230 | 4714720 |
| Cummins, Inc. | 73442 | 37488469 |
| Donaldson Co., Inc. | 69787 | 6187316 |
| Flowserve Corp. | 104495 | 7249863 |
| Lincoln Electric Holdings, Inc. | 25089 | 6012328 |
| Middleby Corp.<sup>(1)</sup> | 13663 | 2031278 |
| Mueller Industries, Inc. | 62858 | 7216098 |
| Oshkosh Corp. | 38675 | 4858740 |
| Parker-Hannifin Corp. | 2535 | 2228164 |
| Snap-on, Inc. | 5505 | 1897023 |
| Toro Co. | 57953 | 4562060 |
| Watts Water Technologies, Inc., Class A | 9907 | 2734530 |
|  |  | 87180589 |
| **Media — 2.4%** |  |  |
| Comcast Corp., Class A | 1049840 | 31379718 |
| Fox Corp., Class A | 149425 | 10918485 |
| Nexstar Media Group, Inc., Class A | 15885 | 3225449 |
|  |  | 45523652 |
| **Metals and Mining — 1.5%** |  |  |
| Newmont Corp. | 190360 | 19007446 |
| Reliance, Inc. | 30930 | 8934749 |
|  |  | 27942195 |

---

------

Schedule of Investments - Disciplined Core Value Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Multi-Utilities — 1.0%** | | |
| Consolidated Edison, Inc. | 53722 | $5335669 |
| WEC Energy Group, Inc. | 133997 | 14131324 |
|  |  | 19466993 |
| **Oil, Gas and Consumable Fuels — 1.8%** |  |  |
| APA Corp. | 39744 | 972138 |
| ConocoPhillips | 126565 | 11847750 |
| Devon Energy Corp. | 386034 | 14140425 |
| Exxon Mobil Corp. | 27983 | 3367474 |
| Permian Resources Corp. | 325892 | 4572265 |
|  |  | 34900052 |
| P**ersonal Care Products — 0.1%** |  |  |
| BellRing Brands, Inc.<sup>(1)</sup> | 93118 | 2489044 |
| **Pharmaceuticals — 6.3%** |  |  |
| Jazz Pharmaceuticals PLC<sup>(1)</sup> | 34973 | 5945410 |
| Johnson & Johnson | 292812 | 60597444 |
| Merck & Co., Inc. | 504740 | 53128932 |
|  |  | 119671786 |
| **Professional Services — 0.8%** |  |  |
| Broadridge Financial Solutions, Inc. | 8230 | 1836689 |
| Huron Consulting Group, Inc.<sup>(1)</sup> | 17320 | 2994801 |
| Leidos Holdings, Inc. | 64072 | 11558589 |
|  |  | 16390079 |
| **Real Estate Management and Development — 0.3%** |  |  |
| Jones Lang LaSalle, Inc.<sup>(1)</sup> | 20061 | 6749925 |
| **Semiconductors and Semiconductor Equipment — 5.4%** |  |  |
| Amkor Technology, Inc. | 86676 | 3421968 |
| Applied Materials, Inc. | 4463 | 1146946 |
| Broadcom, Inc. | 21369 | 7395811 |
| Cirrus Logic, Inc.<sup>(1)</sup> | 29508 | 3496698 |
| KLA Corp. | 20970 | 25480228 |
| Marvell Technology, Inc. | 73310 | 6229884 |
| Micron Technology, Inc. | 59853 | 17082645 |
| NVIDIA Corp. | 5903 | 1100910 |
| QUALCOMM, Inc. | 219584 | 37559843 |
|  |  | 102914933 |
| **Software — 4.8%** |  |  |
| Adobe, Inc.<sup>(1)</sup> | 81120 | 28391189 |
| AppLovin Corp., Class A<sup>(1)</sup> | 15643 | 10540566 |
| Docusign, Inc.<sup>(1)</sup> | 46837 | 3203651 |
| Microsoft Corp. | 9435 | 4562955 |
| RingCentral, Inc., Class A<sup>(1)</sup> | 56491 | 1631460 |
| Salesforce, Inc. | 96386 | 25533615 |
| ServiceNow, Inc.<sup>(1)</sup> | 12115 | 1855897 |
| Workday, Inc., Class A<sup>(1)</sup> | 11928 | 2561896 |
| Zoom Communications, Inc., Class A<sup>(1)</sup> | 155925 | 13454768 |
|  |  | 91735997 |
| **Specialized REITs — 0.5%** |  |  |
| Public Storage | 38806 | 10070157 |
| **Specialty Retail — 1.5%** |  |  |
| Bath & Body Works, Inc. | 112524 | 2259482 |
| Best Buy Co., Inc. | 114171 | 7641465 |

---

------

Schedule of Investments - Disciplined Core Value Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Gap, Inc. | 78275 | $2003840 |
| Lowe's Cos., Inc. | 40671 | 9808218 |
| Penske Automotive Group, Inc. | 5897 | 933436 |
| Signet Jewelers Ltd. | 31077 | 2575662 |
| Ulta Beauty, Inc.<sup>(1)</sup> | 6520 | 3944665 |
|  |  | 29166768 |
| **Technology Hardware, Storage and Peripherals — 1.2%** |  |  |
| Apple, Inc. | 40528 | 11017942 |
| Dell Technologies, Inc., Class C | 23773 | 2992546 |
| NetApp, Inc. | 70724 | 7573833 |
| Sandisk Corp.<sup>(1)</sup> | 3724 | 884003 |
|  |  | 22468324 |
| **Textiles, Apparel and Luxury Goods — 0.3%** |  |  |
| Deckers Outdoor Corp.<sup>(1)</sup> | 58046 | 6017629 |
| Ralph Lauren Corp. | 412 | 145687 |
|  |  | 6163316 |
| **Trading Companies and Distributors — 1.1%** |  |  |
| Core & Main, Inc., Class A<sup>(1)</sup> | 34242 | 1779557 |
| DNOW, Inc.<sup>(1)</sup> | 141241 | 1871443 |
| Ferguson Enterprises, Inc. | 63402 | 14115187 |
| MSC Industrial Direct Co., Inc., Class A | 29110 | 2448151 |
|  |  | 20214338 |
| **Wireless Telecommunication Services — 0.1%** |  |  |
| Millicom International Cellular SA | 24912 | 1381121 |
| **TOTAL COMMON STOCKS**<br>(Cost $1,507,689,505) |  | **1903314299** |
| **SHORT-TERM INVESTMENTS — 0.5%** |  |  |
| **Repurchase Agreements — 0.5%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.625%, 8/31/27, valued at $9,307,588), at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $9,126,937)<br>(Cost $9,125,000) |  | **9125000** |
| **TOTAL INVESTMENT SECURITIES — 100.0%**<br>(Cost $1,516,814,505) |  | **1912439299** |
| **OTHER ASSETS AND LIABILITIES — 0.0%** |  | **(463457)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1911975842** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Non-income producing.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks | $1903314299 |  |  |
| Short-Term Investments |  | $9125000 |  |
|  | $1903314299 | $9125000 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - Disciplined Growth Fund

**DECEMBER 31, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.7%** | **Shares**<br> | **Value**<br> |
| **Automobile Components — 0.2%** | | |
| Aptiv PLC<sup>(1)</sup> | 3840 | $292186 |
| BorgWarner, Inc. | 7060 | 318123 |
| Garrett Motion, Inc. | 11637 | 202833 |
|  |  | 813142 |
| **Automobiles — 2.8%** |  |  |
| Tesla, Inc.<sup>(1)</sup> | 30278 | 13616622 |
| **Beverages — 1.1%** |  |  |
| Monster Beverage Corp.<sup>(1)</sup> | 72465 | 5555892 |
| **Biotechnology — 4.4%** |  |  |
| AbbVie, Inc. | 48267 | 11028527 |
| Alnylam Pharmaceuticals, Inc.<sup>(1)</sup> | 3202 | 1273275 |
| Exelixis, Inc.<sup>(1)</sup> | 5469 | 239706 |
| Gilead Sciences, Inc. | 33694 | 4135602 |
| Halozyme Therapeutics, Inc.<sup>(1)</sup> | 11193 | 753289 |
| Incyte Corp.<sup>(1)</sup> | 2921 | 288507 |
| Natera, Inc.<sup>(1)</sup> | 7326 | 1678313 |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | 10338 | 1466239 |
| PTC Therapeutics, Inc.<sup>(1)</sup> | 3033 | 230387 |
|  |  | 21093845 |
| **Broadline Retail — 3.8%** |  |  |
| Amazon.com, Inc.<sup>(1)</sup> | 77100 | 17796222 |
| Etsy, Inc.<sup>(1)</sup> | 5327 | 295329 |
|  |  | 18091551 |
| **Building Products — 0.1%** |  |  |
| A.O. Smith Corp. | 3536 | 236488 |
| Builders FirstSource, Inc.<sup>(1)</sup> | 2346 | 241380 |
| Griffon Corp. | 2260 | 166449 |
|  |  | 644317 |
| **Capital Markets — 0.5%** |  |  |
| Evercore, Inc., Class A | 2541 | 864575 |
| MSCI, Inc. | 2005 | 1150329 |
| StoneX Group, Inc.<sup>(1)</sup> | 2602 | 247528 |
|  |  | 2262432 |
| **Chemicals — 0.1%** |  |  |
| NewMarket Corp. | 262 | 180062 |
| Scotts Miracle-Gro Co. | 3505 | 204517 |
|  |  | 384579 |
| **Commercial Services and Supplies — 1.2%** |  |  |
| Cintas Corp. | 23145 | 4352880 |
| Rollins, Inc. | 23916 | 1435438 |
|  |  | 5788318 |
| **Communications Equipment — 1.3%** |  |  |
| Arista Networks, Inc.<sup>(1)</sup> | 43760 | 5733873 |
| Motorola Solutions, Inc. | 1921 | 736358 |
|  |  | 6470231 |
| **Construction and Engineering — 0.5%** |  |  |
| EMCOR Group, Inc. | 1293 | 791045 |
| Primoris Services Corp. | 1486 | 184472 |

---

------

Schedule of Investments - Disciplined Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Sterling Infrastructure, Inc.<sup>(1)</sup> | 1019 | $312048 |
| Tutor Perini Corp. | 3317 | 222305 |
| Valmont Industries, Inc. | 1799 | 723774 |
|  |  | 2233644 |
| **Consumer Finance — 0.1%** |  |  |
| Enova International, Inc.<sup>(1)</sup> | 3234 | 508385 |
| **Consumer Staples Distribution & Retail — 1.8%** |  |  |
| Costco Wholesale Corp. | 7517 | 6482210 |
| Dollar Tree, Inc.<sup>(1)</sup> | 6984 | 859102 |
| Maplebear, Inc.<sup>(1)</sup> | 4251 | 191210 |
| Sprouts Farmers Market, Inc.<sup>(1)</sup> | 8951 | 713126 |
| U.S. Foods Holding Corp.<sup>(1)</sup> | 5422 | 408385 |
|  |  | 8654033 |
| **Electric Utilities — 0.3%** |  |  |
| NRG Energy, Inc. | 8017 | 1276627 |
| **Electrical Equipment — 0.5%** |  |  |
| Nextpower, Inc., Class A<sup>(1)</sup> | 2764 | 240772 |
| Rockwell Automation, Inc. | 1928 | 750127 |
| Vertiv Holdings Co., Class A | 10457 | 1694139 |
|  |  | 2685038 |
| **Electronic Equipment, Instruments and Components — 0.7%** |  |  |
| TE Connectivity PLC | 13383 | 3044766 |
| Zebra Technologies Corp., Class A<sup>(1)</sup> | 788 | 191342 |
|  |  | 3236108 |
| **Energy Equipment and Services — 0.1%** |  |  |
| TechnipFMC PLC | 15252 | 679629 |
| **Entertainment — 2.1%** |  |  |
| Netflix, Inc.<sup>(1)</sup> | 61769 | 5791462 |
| ROBLOX Corp., Class A<sup>(1)</sup> | 2802 | 227046 |
| Spotify Technology SA<sup>(1)</sup> | 7269 | 4221181 |
|  |  | 10239689 |
| **Financial Services — 5.0%** |  |  |
| Mastercard, Inc., Class A | 21137 | 12066690 |
| Toast, Inc., Class A<sup>(1)</sup> | 21868 | 776533 |
| Visa, Inc., Class A | 31532 | 11058588 |
|  |  | 23901811 |
| **Ground Transportation — 0.0%** |  |  |
| Lyft, Inc., Class A<sup>(1)</sup> | 6747 | 130689 |
| **Health Care Equipment and Supplies — 0.3%** |  |  |
| Dexcom, Inc.<sup>(1)</sup> | 15159 | 1006103 |
| ResMed, Inc. | 2260 | 544366 |
|  |  | 1550469 |
| **Health Care Providers and Services — 0.7%** |  |  |
| Cardinal Health, Inc. | 7140 | 1467270 |
| HCA Healthcare, Inc. | 3644 | 1701238 |
|  |  | 3168508 |
| **Health Care Technology — 0.5%** |  |  |
| Veeva Systems, Inc., Class A<sup>(1)</sup> | 10522 | 2348826 |
| **Hotels, Restaurants and Leisure — 4.3%** |  |  |
| Airbnb, Inc., Class A<sup>(1)</sup> | 20883 | 2834241 |
| Booking Holdings, Inc. | 1487 | 7963376 |
| DoorDash, Inc., Class A<sup>(1)</sup> | 22345 | 5060696 |
| DraftKings, Inc., Class A<sup>(1)</sup> | 28362 | 977354 |

---

------

Schedule of Investments - Disciplined Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Expedia Group, Inc. | 11191 | $3170522 |
| Super Group SGHC Ltd. | 12254 | 146435 |
| Yum! Brands, Inc. | 2479 | 375023 |
|  |  | 20527647 |
| **Household Products — 0.4%** |  |  |
| Colgate-Palmolive Co. | 24516 | 1937254 |
| **Interactive Media and Services — 9.4%** |  |  |
| Alphabet, Inc., Class A | 42565 | 13322845 |
| Alphabet, Inc., Class C | 46473 | 14583228 |
| Cargurus, Inc.<sup>(1)</sup> | 2935 | 112557 |
| Meta Platforms, Inc., Class A | 23864 | 15752388 |
| Reddit, Inc., Class A<sup>(1)</sup> | 6520 | 1498752 |
|  |  | 45269770 |
| **IT Services — 0.9%** |  |  |
| Cloudflare, Inc., Class A<sup>(1)</sup> | 2093 | 412635 |
| Snowflake, Inc., Class A<sup>(1)</sup> | 14223 | 3119957 |
| Twilio, Inc., Class A<sup>(1)</sup> | 4047 | 575645 |
| VeriSign, Inc. | 781 | 189744 |
|  |  | 4297981 |
| **Leisure Products — 0.1%** |  |  |
| Hasbro, Inc. | 5271 | 432222 |
| **Machinery — 0.2%** |  |  |
| Flowserve Corp. | 13973 | 969447 |
| **Oil, Gas and Consumable Fuels — 0.1%** |  |  |
| Gulfport Energy Corp.<sup>(1)</sup> | 1359 | 282658 |
| **Pharmaceuticals — 2.1%** |  |  |
| Bristol-Myers Squibb Co. | 35646 | 1922745 |
| Eli Lilly & Co. | 7571 | 8136403 |
| Indivior PLC<sup>(1)</sup> | 4681 | 167954 |
|  |  | 10227102 |
| **Semiconductors and Semiconductor Equipment — 21.1%** |  |  |
| Advanced Micro Devices, Inc.<sup>(1)</sup> | 13783 | 2951767 |
| Applied Materials, Inc. | 1959 | 503443 |
| Astera Labs, Inc.<sup>(1)</sup> | 2710 | 450836 |
| Broadcom, Inc. | 70666 | 24457503 |
| Cirrus Logic, Inc.<sup>(1)</sup> | 1972 | 233682 |
| KLA Corp. | 4153 | 5046227 |
| Lam Research Corp. | 40046 | 6855074 |
| NVIDIA Corp. | 305667 | 57006896 |
| QUALCOMM, Inc. | 21991 | 3761561 |
| Semtech Corp.<sup>(1)</sup> | 1276 | 94028 |
|  |  | 101361017 |
| **Software — 19.2%** |  |  |
| Adobe, Inc.<sup>(1)</sup> | 20923 | 7322841 |
| AppLovin Corp., Class A<sup>(1)</sup> | 6563 | 4422281 |
| Atlassian Corp., Class A<sup>(1)</sup> | 9136 | 1481311 |
| Autodesk, Inc.<sup>(1)</sup> | 12633 | 3739494 |
| Cadence Design Systems, Inc.<sup>(1)</sup> | 9245 | 2889802 |
| Crowdstrike Holdings, Inc., Class A<sup>(1)</sup> | 8187 | 3837738 |
| Datadog, Inc., Class A<sup>(1)</sup> | 15006 | 2040666 |
| Docusign, Inc.<sup>(1)</sup> | 14255 | 975042 |
| Fair Isaac Corp.<sup>(1)</sup> | 278 | 469992 |
| Fortinet, Inc.<sup>(1)</sup> | 1191 | 94577 |

---

------

Schedule of Investments - Disciplined Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| HubSpot, Inc.<sup>(1)</sup> | 3289 | $1319876 |
| Intuit, Inc. | 8169 | 5411309 |
| Microsoft Corp. | 77887 | 37667711 |
| Nutanix, Inc., Class A<sup>(1)</sup> | 6342 | 327818 |
| Palantir Technologies, Inc., Class A<sup>(1)</sup> | 43134 | 7667069 |
| Palo Alto Networks, Inc.<sup>(1)</sup> | 19704 | 3629477 |
| Salesforce, Inc. | 6922 | 1833707 |
| ServiceNow, Inc.<sup>(1)</sup> | 34580 | 5297310 |
| Zscaler, Inc.<sup>(1)</sup> | 7402 | 1664858 |
|  |  | 92092879 |
| **Specialty Retail — 1.0%** |  |  |
| Bath & Body Works, Inc. | 8770 | 176102 |
| Best Buy Co., Inc. | 4879 | 326551 |
| Lowe's Cos., Inc. | 17315 | 4175685 |
| Signet Jewelers Ltd. | 2850 | 236208 |
|  |  | 4914546 |
| **Technology Hardware, Storage and Peripherals — 12.0%** |  |  |
| Apple, Inc. | 206940 | 56258708 |
| NetApp, Inc. | 5107 | 546909 |
| Pure Storage, Inc., Class A<sup>(1)</sup> | 12740 | 853707 |
|  |  | 57659324 |
| **Textiles, Apparel and Luxury Goods — 0.4%** |  |  |
| Deckers Outdoor Corp.<sup>(1)</sup> | 11256 | 1166910 |
| Tapestry, Inc. | 4838 | 618151 |
|  |  | 1785061 |
| **Trading Companies and Distributors — 0.4%** |  |  |
| Fastenal Co. | 13131 | 526947 |
| WW Grainger, Inc. | 1304 | 1315801 |
|  |  | 1842748 |
| **TOTAL COMMON STOCKS**<br>(Cost $200,529,560) |  | **478934041** |
| **SHORT-TERM INVESTMENTS — 0.4%** |  |  |
| **Repurchase Agreements — 0.4%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 10/15/27, valued at $2,153,283), at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $2,111,448)<br>(Cost $2,111,000) |  | **2111000** |
| **TOTAL INVESTMENT SECURITIES — 100.1%**<br>(Cost $202,640,560) |  | **481045041** |
| **OTHER ASSETS AND LIABILITIES — (0.1)%** |  | **(406975)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**480638066** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Non-income producing.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks | $478934041 |  |  |
| Short-Term Investments |  | $2111000 |  |
|  | $478934041 | $2111000 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - Equity Growth Fund

**DECEMBER 31, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.5%** | **Shares**<br> | **Value**<br> |
| **Aerospace and Defense — 0.0%** | | |
| Lockheed Martin Corp. | 1181 | $571214 |
| **Air Freight and Logistics — 1.3%** |  |  |
| CH Robinson Worldwide, Inc. | 26372 | 4239563 |
| FedEx Corp. | 24416 | 7052806 |
| United Parcel Service, Inc., Class B | 133288 | 13220836 |
|  |  | 24513205 |
| **Automobile Components — 0.5%** |  |  |
| Aptiv PLC<sup>(1)</sup> | 48250 | 3671343 |
| BorgWarner, Inc. | 76668 | 3454660 |
| Garrett Motion, Inc. | 70951 | 1236676 |
|  |  | 8362679 |
| **Automobiles — 1.0%** |  |  |
| Tesla, Inc.<sup>(1)</sup> | 42365 | 19052388 |
| **Banks — 7.3%** |  |  |
| Bank of America Corp. | 532197 | 29270835 |
| Citigroup, Inc. | 266368 | 31082482 |
| JPMorgan Chase & Co. | 103504 | 33351059 |
| PNC Financial Services Group, Inc. | 23468 | 4898476 |
| Truist Financial Corp. | 327540 | 16118243 |
| U.S. Bancorp | 386384 | 20617450 |
|  |  | 135338545 |
| **Beverages — 0.1%** |  |  |
| Monster Beverage Corp.<sup>(1)</sup> | 20682 | 1585689 |
| **Biotechnology — 3.9%** |  |  |
| AbbVie, Inc. | 145769 | 33306759 |
| Gilead Sciences, Inc. | 191930 | 23557488 |
| Incyte Corp.<sup>(1)</sup> | 36032 | 3558881 |
| Natera, Inc.<sup>(1)</sup> | 13549 | 3103940 |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | 19279 | 2734340 |
| Regeneron Pharmaceuticals, Inc. | 1156 | 892282 |
| United Therapeutics Corp.<sup>(1)</sup> | 5863 | 2856747 |
| Vertex Pharmaceuticals, Inc.<sup>(1)</sup> | 6259 | 2837580 |
|  |  | 72848017 |
| **Broadline Retail — 4.7%** |  |  |
| Amazon.com, Inc.<sup>(1)</sup> | 331210 | 76449892 |
| Dillard's, Inc., Class A | 2770 | 1679562 |
| eBay, Inc. | 103843 | 9044725 |
|  |  | 87174179 |
| **Building Products — 0.3%** |  |  |
| A.O. Smith Corp. | 27066 | 1810174 |
| Griffon Corp. | 38516 | 2836704 |
|  |  | 4646878 |
| **Capital Markets — 1.0%** |  |  |
| Cboe Global Markets, Inc. | 15687 | 3937437 |
| Evercore, Inc., Class A | 8923 | 3036051 |
| Interactive Brokers Group, Inc., Class A | 62469 | 4017381 |
| MSCI, Inc. | 10490 | 6018428 |
| StoneX Group, Inc.<sup>(1)</sup> | 9646 | 917624 |
|  |  | 17926921 |

---

------

Schedule of Investments - Equity Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Chemicals — 0.1%** | | |
| NewMarket Corp. | 3512 | $2413657 |
| **Commercial Services and Supplies — 0.5%** |  |  |
| Rollins, Inc. | 81202 | 4873744 |
| Veralto Corp. | 35449 | 3537101 |
|  |  | 8410845 |
| **Communications Equipment — 1.7%** |  |  |
| Ciena Corp.<sup>(1)</sup> | 10237 | 2394127 |
| Cisco Systems, Inc. | 360697 | 27784490 |
| F5, Inc.<sup>(1)</sup> | 6303 | 1608904 |
|  |  | 31787521 |
| **Construction and Engineering — 1.0%** |  |  |
| EMCOR Group, Inc. | 9596 | 5870737 |
| Granite Construction, Inc. | 39324 | 4536024 |
| Primoris Services Corp. | 23330 | 2896186 |
| Valmont Industries, Inc. | 11301 | 4546618 |
|  |  | 17849565 |
| **Consumer Finance — 0.5%** |  |  |
| Enova International, Inc.<sup>(1)</sup> | 31258 | 4913757 |
| Synchrony Financial | 44890 | 3745173 |
|  |  | 8658930 |
| **Consumer Staples Distribution & Retail — 3.2%** |  |  |
| Casey's General Stores, Inc. | 2006 | 1108736 |
| Costco Wholesale Corp. | 4352 | 3752904 |
| Dollar General Corp. | 59858 | 7947347 |
| Dollar Tree, Inc.<sup>(1)</sup> | 48671 | 5987020 |
| Kroger Co. | 132355 | 8269540 |
| Maplebear, Inc.<sup>(1)</sup> | 54420 | 2447811 |
| Sysco Corp. | 106685 | 7861618 |
| U.S. Foods Holding Corp.<sup>(1)</sup> | 20546 | 1547525 |
| Walmart, Inc. | 177841 | 19813266 |
|  |  | 58735767 |
| **Containers and Packaging — 0.2%** |  |  |
| Crown Holdings, Inc. | 31057 | 3197939 |
| **Diversified Telecommunication Services — 0.1%** |  |  |
| Verizon Communications, Inc. | 44625 | 1817576 |
| **Electrical Equipment — 0.9%** |  |  |
| Acuity, Inc. | 7765 | 2795711 |
| Nextpower, Inc., Class A<sup>(1)</sup> | 30388 | 2647099 |
| Rockwell Automation, Inc. | 24818 | 9655939 |
| Vertiv Holdings Co., Class A | 13844 | 2242866 |
|  |  | 17341615 |
| **Electronic Equipment, Instruments and Components — 1.3%** |  |  |
| Jabil, Inc. | 9317 | 2124462 |
| Keysight Technologies, Inc.<sup>(1)</sup> | 37756 | 7671642 |
| TE Connectivity PLC | 65236 | 14841842 |
|  |  | 24637946 |
| **Energy Equipment and Services — 0.3%** |  |  |
| TechnipFMC PLC | 87518 | 3899802 |
| Weatherford International PLC | 12480 | 976685 |
|  |  | 4876487 |
| **Entertainment — 0.4%** |  |  |
| Netflix, Inc.<sup>(1)</sup> | 61081 | 5726954 |
| Spotify Technology SA<sup>(1)</sup> | 3591 | 2085330 |
|  |  | 7812284 |

---

------

Schedule of Investments - Equity Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Financial Services — 3.0%** | | |
| Affirm Holdings, Inc.<sup>(1)</sup> | 5742 | $427377 |
| Fiserv, Inc.<sup>(1)</sup> | 14253 | 957374 |
| Mastercard, Inc., Class A | 53238 | 30392510 |
| PayPal Holdings, Inc. | 139102 | 8120775 |
| Toast, Inc., Class A<sup>(1)</sup> | 24526 | 870918 |
| Visa, Inc., Class A | 40299 | 14133262 |
|  |  | 54902216 |
| **Food Products — 0.3%** |  |  |
| Archer-Daniels-Midland Co. | 71913 | 4134279 |
| Hershey Co. | 10344 | 1882401 |
|  |  | 6016680 |
| **Health Care Equipment and Supplies — 0.9%** |  |  |
| Align Technology, Inc.<sup>(1)</sup> | 19992 | 3121751 |
| Dexcom, Inc.<sup>(1)</sup> | 68011 | 4513890 |
| LivaNova PLC<sup>(1)</sup> | 63769 | 3923706 |
| ResMed, Inc. | 21924 | 5280834 |
|  |  | 16840181 |
| **Health Care Providers and Services — 2.5%** |  |  |
| Cardinal Health, Inc. | 53030 | 10897665 |
| HCA Healthcare, Inc. | 37362 | 17442823 |
| Labcorp Holdings, Inc. | 12954 | 3249900 |
| McKesson Corp. | 12325 | 10110074 |
| Quest Diagnostics, Inc. | 24806 | 4304585 |
|  |  | 46005047 |
| **Health Care Technology — 0.1%** |  |  |
| Veeva Systems, Inc., Class A<sup>(1)</sup> | 4441 | 991364 |
| **Hotels, Restaurants and Leisure — 3.4%** |  |  |
| Airbnb, Inc., Class A<sup>(1)</sup> | 72557 | 9847436 |
| Booking Holdings, Inc. | 4633 | 24811244 |
| Brinker International, Inc.<sup>(1)</sup> | 5944 | 853083 |
| DoorDash, Inc., Class A<sup>(1)</sup> | 34903 | 7904831 |
| DraftKings, Inc., Class A<sup>(1)</sup> | 43207 | 1488913 |
| Expedia Group, Inc. | 25860 | 7326397 |
| Yum! Brands, Inc. | 68287 | 10330457 |
|  |  | 62562361 |
| **Household Products — 1.1%** |  |  |
| Church & Dwight Co., Inc. | 28323 | 2374883 |
| Colgate-Palmolive Co. | 198490 | 15684680 |
| Procter & Gamble Co. | 11999 | 1719577 |
|  |  | 19779140 |
| **Insurance — 2.0%** |  |  |
| Allstate Corp. | 4275 | 889841 |
| Arch Capital Group Ltd.<sup>(1)</sup> | 33412 | 3204879 |
| Hartford Insurance Group, Inc. | 38453 | 5298824 |
| Progressive Corp. | 99382 | 22631269 |
| Travelers Cos., Inc. | 15873 | 4604122 |
|  |  | 36628935 |
| **Interactive Media and Services — 8.0%** |  |  |
| Alphabet, Inc., Class A | 110965 | 34732045 |
| Alphabet, Inc., Class C | 188156 | 59043353 |
| Cargurus, Inc.<sup>(1)</sup> | 30902 | 1185092 |
| Match Group, Inc. | 67077 | 2165916 |

---

------

Schedule of Investments - Equity Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Meta Platforms, Inc., Class A | 75923 | $50116013 |
| Pinterest, Inc., Class A<sup>(1)</sup> | 47871 | 1239380 |
|  |  | 148481799 |
| **IT Services — 1.4%** |  |  |
| Cognizant Technology Solutions Corp., Class A | 15747 | 1307001 |
| International Business Machines Corp. | 46633 | 13813161 |
| Twilio, Inc., Class A<sup>(1)</sup> | 42402 | 6031260 |
| VeriSign, Inc. | 18865 | 4583252 |
|  |  | 25734674 |
| **Machinery — 1.0%** |  |  |
| Cummins, Inc. | 28511 | 14553440 |
| Otis Worldwide Corp. | 50835 | 4440437 |
|  |  | 18993877 |
| **Media — 0.2%** |  |  |
| Fox Corp., Class A | 42155 | 3080266 |
| **Metals and Mining — 0.6%** |  |  |
| Newmont Corp. | 113893 | 11372216 |
| Southern Copper Corp. | 235 | 33716 |
|  |  | 11405932 |
| **Oil, Gas and Consumable Fuels — 0.7%** |  |  |
| Expand Energy Corp. | 67342 | 7431863 |
| Gulfport Energy Corp.<sup>(1)</sup> | 19641 | 4085132 |
| Occidental Petroleum Corp. | 50743 | 2086552 |
|  |  | 13603547 |
| **Personal Care Products — 0.1%** |  |  |
| Estee Lauder Cos., Inc., Class A | 15885 | 1663477 |
| **Pharmaceuticals — 4.9%** |  |  |
| Bristol-Myers Squibb Co. | 420869 | 22701674 |
| Indivior PLC<sup>(1)</sup> | 29526 | 1059393 |
| Jazz Pharmaceuticals PLC<sup>(1)</sup> | 18065 | 3071050 |
| Johnson & Johnson | 163448 | 33825564 |
| Merck & Co., Inc. | 275029 | 28949552 |
|  |  | 89607233 |
| **Professional Services — 0.7%** |  |  |
| Broadridge Financial Solutions, Inc. | 34349 | 7665666 |
| Leidos Holdings, Inc. | 19146 | 3453939 |
| SS&C Technologies Holdings, Inc. | 27324 | 2388664 |
|  |  | 13508269 |
| **Real Estate Management and Development — 0.1%** |  |  |
| Jones Lang LaSalle, Inc.<sup>(1)</sup> | 5769 | 1941095 |
| **Retail REITs — 0.2%** |  |  |
| Simon Property Group, Inc. | 22635 | 4189965 |
| **Semiconductors and Semiconductor Equipment — 14.4%** |  |  |
| Advanced Micro Devices, Inc.<sup>(1)</sup> | 14668 | 3141299 |
| Applied Materials, Inc. | 106938 | 27481997 |
| Broadcom, Inc. | 121636 | 42098219 |
| Cirrus Logic, Inc.<sup>(1)</sup> | 22992 | 2724552 |
| Lam Research Corp. | 146657 | 25104745 |
| NVIDIA Corp. | 754864 | 140782136 |
| QUALCOMM, Inc. | 140893 | 24099748 |
|  |  | 265432696 |

---

------

Schedule of Investments - Equity Growth Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Software — 12.1%** | | |
| Adobe, Inc.<sup>(1)</sup> | 60530 | $21184895 |
| AppLovin Corp., Class A<sup>(1)</sup> | 12398 | 8354020 |
| Atlassian Corp., Class A<sup>(1)</sup> | 16210 | 2628289 |
| Autodesk, Inc.<sup>(1)</sup> | 47071 | 13933487 |
| Crowdstrike Holdings, Inc., Class A<sup>(1)</sup> | 11555 | 5416522 |
| Datadog, Inc., Class A<sup>(1)</sup> | 9527 | 1295577 |
| Docusign, Inc.<sup>(1)</sup> | 40508 | 2770747 |
| HubSpot, Inc.<sup>(1)</sup> | 11637 | 4669928 |
| Intuit, Inc. | 26533 | 17575990 |
| Microsoft Corp. | 177810 | 85992472 |
| Nutanix, Inc., Class A<sup>(1)</sup> | 30423 | 1572565 |
| Palantir Technologies, Inc., Class A<sup>(1)</sup> | 71929 | 12785380 |
| Palo Alto Networks, Inc.<sup>(1)</sup> | 7612 | 1402130 |
| PTC, Inc.<sup>(1)</sup> | 20126 | 3506151 |
| RingCentral, Inc., Class A<sup>(1)</sup> | 101187 | 2922281 |
| Salesforce, Inc. | 106040 | 28091056 |
| ServiceNow, Inc.<sup>(1)</sup> | 63570 | 9738288 |
|  |  | 223839778 |
| **Specialty Retail — 2.9%** |  |  |
| Bath & Body Works, Inc. | 78008 | 1566401 |
| Best Buy Co., Inc. | 25090 | 1679274 |
| Home Depot, Inc. | 48839 | 16805500 |
| Lowe's Cos., Inc. | 97034 | 23400719 |
| TJX Cos., Inc. | 25624 | 3936103 |
| Ulta Beauty, Inc.<sup>(1)</sup> | 9958 | 6024689 |
|  |  | 53412686 |
| **Technology Hardware, Storage and Peripherals — 7.6%** |  |  |
| Apple, Inc. | 454508 | 123562545 |
| Dell Technologies, Inc., Class C | 58454 | 7358189 |
| NetApp, Inc. | 44828 | 4800631 |
| Pure Storage, Inc., Class A<sup>(1)</sup> | 43237 | 2897311 |
| Sandisk Corp.<sup>(1)</sup> | 8826 | 2095116 |
|  |  | 140713792 |
| **Textiles, Apparel and Luxury Goods — 0.6%** |  |  |
| Lululemon Athletica, Inc.<sup>(1)</sup> | 24970 | 5189016 |
| Tapestry, Inc. | 46722 | 5969670 |
|  |  | 11158686 |
| **Trading Companies and Distributors — 0.4%** |  |  |
| Ferguson Enterprises, Inc. | 15379 | 3423827 |
| WW Grainger, Inc. | 3119 | 3147227 |
|  |  | 6571054 |
| **TOTAL COMMON STOCKS**<br>(Cost $1,108,492,606) |  | **1836624597** |
| **SHORT-TERM INVESTMENTS — 0.6%** |  |  |
| **Repurchase Agreements — 0.6%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.75%, 8/15/27, valued at $9,991,968), at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $9,798,079)<br>(Cost $9,796,000) |  | **9796000** |
| **TOTAL INVESTMENT SECURITIES — 100.1%**<br>(Cost $1,118,288,606) |  | **1846420597** |
| **OTHER ASSETS AND LIABILITIES — (0.1)%** |  | **(932821)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1845487776** |

---

------

Schedule of Investments - Equity Growth Fund

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Non-income producing.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks | $1836624597 |  |  |
| Short-Term Investments |  | $9796000 |  |
|  | $1836624597 | $9796000 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - Global Gold Fund

**DECEMBER 31, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.2%** | **Shares**<br> | **Value**<br> |
| **Australia — 13.3%** | | |
| Alkane Resources Ltd.<sup>(1)</sup> | 2253200 | $2007062 |
| Capricorn Metals Ltd.<sup>(1)</sup> | 1421200 | 13446764 |
| Catalyst Metals Ltd.<sup>(1)(2)</sup> | 1026200 | 4990695 |
| Evolution Mining Ltd. | 4144049 | 34680461 |
| Genesis Minerals Ltd.<sup>(1)</sup> | 585900 | 2802686 |
| Greatland Resources Ltd.<sup>(1)</sup> | 571700 | 3935478 |
| Kingsgate Consolidated Ltd.<sup>(1)</sup> | 2882800 | 10765519 |
| Northern Star Resources Ltd. | 2868317 | 50475627 |
| Pantoro Gold Ltd.<sup>(1)</sup> | 485300 | 1567045 |
| Perseus Mining Ltd. | 7529500 | 28306239 |
| Ramelius Resources Ltd. | 5984248 | 16459054 |
| Regis Resources Ltd. | 5323500 | 26550863 |
| Resolute Mining Ltd.<sup>(1)</sup> | 8008600 | 6486454 |
| Vault Minerals Ltd.<sup>(1)</sup> | 3614092 | 13007607 |
| West African Resources Ltd.<sup>(1)</sup> | 3110400 | 6157102 |
| Westgold Resources Ltd. | 2907700 | 12349562 |
|  |  | 233988218 |
| **Brazil — 0.7%** |  |  |
| Aura Minerals, Inc. | 254500 | 12830618 |
| **Canada — 48.7%** |  |  |
| Agnico Eagle Mines Ltd. | 614673 | 104205514 |
| Alamos Gold, Inc., Class A | 952700 | 36755166 |
| Allied Gold Corp.<sup>(1)</sup> | 167809 | 3845101 |
| Allied Gold Corp. (New York)<sup>(1)</sup> | 616100 | 14096368 |
| Andean Precious Metals Corp.<sup>(1)(2)</sup> | 1890031 | 13439731 |
| Aris Mining Corp.<sup>(1)</sup> | 96400 | 1564572 |
| Avino Silver & Gold Mines Ltd.<sup>(1)(2)</sup> | 416200 | 2589595 |
| B2Gold Corp. | 5238700 | 23626537 |
| Barrick Mining Corp. | 2178320 | 94865836 |
| Discovery Silver Corp.<sup>(1)</sup> | 737000 | 4499698 |
| DPM Metals, Inc. | 1007800 | 31147044 |
| Eldorado Gold Corp.<sup>(1)</sup> | 473800 | 17018896 |
| Endeavour Silver Corp.<sup>(1)(2)</sup> | 1239200 | 11648480 |
| Equinox Gold Corp. (Toronto)<sup>(1)(2)</sup> | 230845 | 3244326 |
| Equinox Gold Corp.<sup>(1)(2)</sup> | 564900 | 7931196 |
| First Majestic Silver Corp. | 139300 | 2320738 |
| Fortuna Mining Corp.<sup>(1)</sup> | 1210200 | 11872062 |
| Franco-Nevada Corp. | 303500 | 62909480 |
| Galiano Gold, Inc.<sup>(1)</sup> | 2312820 | 5880836 |
| IAMGOLD Corp.<sup>(1)</sup> | 1902800 | 31377172 |
| Jaguar Mining, Inc.<sup>(1)</sup> | 250100 | 1317419 |
| K92 Mining, Inc.<sup>(1)</sup> | 1686200 | 27875034 |
| Kinross Gold Corp. | 3244357 | 91361093 |
| Lundin Gold, Inc. | 179700 | 14927976 |
| New Gold, Inc.<sup>(1)</sup> | 2111200 | 18388552 |
| Novagold Resources, Inc.<sup>(1)</sup> | 95300 | 888740 |
| OceanaGold Corp. | 1239566 | 35131046 |
| OR Royalties, Inc. | 210200 | 7438978 |
| Orezone Gold Corp.<sup>(1)(2)</sup> | 1035100 | 1334834 |

---

------

Schedule of Investments - Global Gold Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Orla Mining Ltd.<sup>(1)(2)</sup> | 1287900 | $17321507 |
| Pan American Silver Corp. | 786263 | 40736286 |
| SSR Mining, Inc.<sup>(1)</sup> | 860600 | 18864352 |
| Torex Gold Resources, Inc. | 396164 | 18917044 |
| Victoria Gold Corp./Vancouver<sup>(1)(2)</sup> | 473000 | 3446 |
| Wesdome Gold Mines Ltd.<sup>(1)</sup> | 1253900 | 20774242 |
| Wheaton Precious Metals Corp. | 506200 | 59488624 |
|  |  | 859607521 |
| **China — 4.9%** |  |  |
| Lingbao Gold Group Co. Ltd., Class H<sup>(2)</sup> | 2530000 | 5824045 |
| Zhaojin Mining Industry Co. Ltd., H Shares | 3039000 | 11999595 |
| Zijin Gold International Co. Ltd.<sup>(1)</sup> | 44976 | 842343 |
| Zijin Mining Group Co. Ltd., H Shares | 14694000 | 67275507 |
|  |  | 85941490 |
| **Mexico — 0.8%** |  |  |
| Industrias Penoles SAB de CV<sup>(1)</sup> | 281100 | 14766901 |
| **Peru — 0.2%** |  |  |
| Cia de Minas Buenaventura SAA, ADR | 106600 | 2966678 |
| **Singapore — 0.1%** |  |  |
| CNMC Goldmine Holdings Ltd. | 3421700 | 2751602 |
| **South Africa — 13.0%** |  |  |
| Anglogold Ashanti PLC (New York) | 888422 | 75764628 |
| DRDGOLD Ltd., ADR | 469800 | 14568498 |
| Gold Fields Ltd., ADR | 2018800 | 88140808 |
| Harmony Gold Mining Co. Ltd., ADR | 2022800 | 40253720 |
| Impala Platinum Holdings Ltd. | 146800 | 2306983 |
| Northam Platinum Holdings Ltd. | 213500 | 4332543 |
| Sibanye Stillwater Ltd.<sup>(1)(2)</sup> | 1173800 | 4279437 |
|  |  | 229646617 |
| **United Kingdom — 5.2%** |  |  |
| Endeavour Mining PLC<sup>(2)</sup> | 877604 | 45192562 |
| Fresnillo PLC | 278000 | 12396144 |
| Hochschild Mining PLC | 2109800 | 14504299 |
| Pan African Resources PLC | 12136400 | 19676900 |
|  |  | 91769905 |
| **United States — 12.3%** |  |  |
| Coeur Mining, Inc.<sup>(1)</sup> | 637500 | 11366625 |
| Hecla Mining Co. | 710200 | 13628738 |
| Newmont Corp. | 1573980 | 157161903 |
| Royal Gold, Inc. | 155021 | 34459618 |
|  |  | 216616884 |
| **TOTAL COMMON STOCKS**<br>(Cost $626,551,886) |  | **1750886434** |
| **SHORT-TERM INVESTMENTS — 1.3%** |  |  |
| **Money Market Funds — 0.6%** |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(3)</sup> | 9927384 | 9927384 |
| **Repurchase Agreements — 0.7%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 3.75%, 8/15/27, valued at $12,468,653), at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $12,226,594) |  | 12224000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $22,151,384) |  | **22151384** |
| **TOTAL INVESTMENT SECURITIES — 100.5%**<br>(Cost $648,703,270) |  | **1773037818** |
| **OTHER ASSETS AND LIABILITIES — (0.5)%** |  | **(9019669)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**1764018149** |

---

------

Schedule of Investments - Global Gold Fund

---

| | | |
|:---|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** | **NOTES TO SCHEDULE OF INVESTMENTS** |
| ADR | – | American Depositary Receipt |

---

(1)Non-income producing.

(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $18,350,763. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $19,631,946, which includes securities collateral of $9,704,562.

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia |  | $233988218 |  |
| &nbsp;&nbsp;&nbsp;Canada | $656469902 | 203137619 |  |
| &nbsp;&nbsp;&nbsp;China |  | 85941490 |  |
| &nbsp;&nbsp;&nbsp;Mexico |  | 14766901 |  |
| &nbsp;&nbsp;&nbsp;Singapore |  | 2751602 |  |
| &nbsp;&nbsp;&nbsp;South Africa | 218727654 | 10918963 |  |
| &nbsp;&nbsp;&nbsp;United Kingdom |  | 91769905 |  |
| &nbsp;&nbsp;&nbsp;Other Countries | 232414180 |  |  |
| Short-Term Investments | 9927384 | 12224000 |  |
|  | $1117539120 | $655498698 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - Small Company Fund

**DECEMBER 31, 2025 (UNAUDITED)** 

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.6%** | **Shares** | **Value** |
| **Aerospace and Defense — 0.6%** | | |
| Astronics Corp.<sup>(1)</sup> | 8279 | $449053 |
| Ducommun, Inc.<sup>(1)</sup> | 2272 | 216136 |
| V2X, Inc.<sup>(1)</sup> | 4375 | 238656 |
|  |  | 903845 |
| **Automobile Components — 1.5%** |  |  |
| Adient PLC<sup>(1)</sup> | 17853 | 342242 |
| American Axle & Manufacturing Holdings, Inc.<sup>(1)(2)</sup> | 56255 | 360595 |
| Fox Factory Holding Corp.<sup>(1)</sup> | 16300 | 278893 |
| Garrett Motion, Inc. | 40125 | 699379 |
| Gentherm, Inc.<sup>(1)</sup> | 7728 | 281067 |
| Visteon Corp. | 4489 | 426904 |
|  |  | 2389080 |
| **Banks — 7.9%** |  |  |
| Bank of NT Butterfield & Son Ltd. | 19833 | 988080 |
| BankUnited, Inc. | 36575 | 1630148 |
| Burke & Herbert Financial Services Corp. | 4573 | 284944 |
| Byline Bancorp, Inc. | 12944 | 377318 |
| First BanCorp | 18792 | 389558 |
| First Financial Bancorp | 36290 | 907976 |
| First Financial Corp. | 6872 | 415206 |
| Fulton Financial Corp. | 38117 | 736802 |
| Hanmi Financial Corp. | 22049 | 595984 |
| Heritage Financial Corp. | 9717 | 229807 |
| Home BancShares, Inc. | 6228 | 173014 |
| Hope Bancorp, Inc. | 43350 | 475116 |
| Horizon Bancorp, Inc. | 4268 | 72385 |
| International Bancshares Corp. | 3316 | 220315 |
| Mercantile Bank Corp. | 5394 | 259451 |
| Metropolitan Bank Holding Corp. | 7108 | 542767 |
| National Bank Holdings Corp., Class A | 8514 | 323617 |
| Northwest Bancshares, Inc. | 29783 | 357396 |
| OFG Bancorp | 15013 | 615233 |
| Peoples Bancorp, Inc. | 16804 | 504624 |
| Popular, Inc. | 2859 | 356003 |
| Provident Financial Services, Inc. | 37471 | 740052 |
| QCR Holdings, Inc. | 5907 | 492053 |
| Tompkins Financial Corp. | 4107 | 297840 |
| TriCo Bancshares | 6766 | 320505 |
|  |  | 12306194 |
| **Beverages — 0.3%** |  |  |
| Coca-Cola Consolidated, Inc. | 3217 | 493166 |
| **Biotechnology — 7.0%** |  |  |
| ACADIA Pharmaceuticals, Inc.<sup>(1)</sup> | 68611 | 1832600 |
| Alkermes PLC<sup>(1)</sup> | 61088 | 1709242 |
| Amicus Therapeutics, Inc. <sup>(1)</sup> | 34816 | 495780 |
| Aurinia Pharmaceuticals, Inc.<sup>(1)</sup> | 55672 | 887968 |
| BioCryst Pharmaceuticals, Inc.<sup>(1)</sup> | 103058 | 803852 |
| Biohaven Ltd.<sup>(1)</sup> | 12464 | 140719 |
| CareDx, Inc.<sup>(1)</sup> | 7189 | 135441 |
| Caris Life Sciences, Inc.<sup>(1)</sup> | 5851 | 157860 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Catalyst Pharmaceuticals, Inc.<sup>(1)</sup> | 37748 | $881038 |
| Day One Biopharmaceuticals, Inc.<sup>(1)</sup> | 24818 | 231304 |
| Halozyme Therapeutics, Inc.<sup>(1)</sup> | 6355 | 427691 |
| Intellia Therapeutics, Inc.<sup>(1)(2)</sup> | 11721 | 105372 |
| Keros Therapeutics, Inc.<sup>(1)</sup> | 16324 | 332357 |
| Kodiak Sciences, Inc.<sup>(1)</sup> | 8553 | 239142 |
| Kura Oncology, Inc.<sup>(1)</sup> | 38976 | 404961 |
| MiMedx Group, Inc.<sup>(1)</sup> | 57238 | 387501 |
| Monte Rosa Therapeutics, Inc.<sup>(1)(2)</sup> | 19645 | 308034 |
| Myriad Genetics, Inc.<sup>(1)</sup> | 31481 | 193608 |
| Praxis Precision Medicines, Inc.<sup>(1)</sup> | 584 | 172128 |
| Stoke Therapeutics, Inc.<sup>(1)(2)</sup> | 21391 | 678950 |
| Veracyte, Inc.<sup>(1)</sup> | 10572 | 445081 |
|  |  | 10970629 |
| **Broadline Retail — 0.1%** |  |  |
| Etsy, Inc.<sup>(1)</sup> | 2293 | 127124 |
| **Building Products — 1.7%** |  |  |
| American Woodmark Corp.<sup>(1)</sup> | 3379 | 182128 |
| Apogee Enterprises, Inc. | 10433 | 379866 |
| Griffon Corp. | 7151 | 526671 |
| Janus International Group, Inc.<sup>(1)</sup> | 65529 | 428560 |
| Owens Corning | 7317 | 818845 |
| Resideo Technologies, Inc.<sup>(1)</sup> | 10116 | 355274 |
|  |  | 2691344 |
| **Capital Markets — 4.1%** |  |  |
| Acadian Asset Management, Inc. | 16142 | 758674 |
| Artisan Partners Asset Management, Inc., Class A | 23065 | 939668 |
| Donnelley Financial Solutions, Inc.<sup>(1)</sup> | 11207 | 523255 |
| Hamilton Lane, Inc., Class A | 7262 | 975359 |
| Patria Investments Ltd., Class A<sup>(2)</sup> | 15143 | 240622 |
| PJT Partners, Inc., Class A | 11207 | 1873811 |
| StoneX Group, Inc.<sup>(1)</sup> | 12294 | 1169528 |
|  |  | 6480917 |
| **Chemicals — 1.6%** |  |  |
| Ecovyst, Inc.<sup>(1)</sup> | 40867 | 397636 |
| Ingevity Corp.<sup>(1)</sup> | 12593 | 745254 |
| Perimeter Solutions, Inc.<sup>(1)</sup> | 5095 | 140265 |
| Scotts Miracle-Gro Co. | 20900 | 1219515 |
|  |  | 2502670 |
| **Commercial Services and Supplies — 2.0%** |  |  |
| Brink's Co. | 4061 | 474041 |
| Cimpress PLC<sup>(1)</sup> | 6792 | 452279 |
| CoreCivic, Inc.<sup>(1)</sup> | 10929 | 208853 |
| Deluxe Corp. | 21649 | 483422 |
| Healthcare Services Group, Inc.<sup>(1)</sup> | 33310 | 636887 |
| Interface, Inc. | 10220 | 285342 |
| MillerKnoll, Inc. | 32631 | 596495 |
|  |  | 3137319 |
| **Communications Equipment — 3.2%** |  |  |
| ADTRAN Holdings, Inc.<sup>(1)</sup> | 34945 | 303672 |
| Calix, Inc.<sup>(1)</sup> | 32919 | 1742403 |
| CommScope Holding Co., Inc.<sup>(1)</sup> | 12091 | 219210 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Extreme Networks, Inc.<sup>(1)</sup> | 21518 | $358275 |
| NetScout Systems, Inc.<sup>(1)</sup> | 33800 | 914628 |
| Viasat, Inc.<sup>(1)</sup> | 7080 | 243977 |
| Viavi Solutions, Inc.<sup>(1)</sup> | 69236 | 1233785 |
|  |  | 5015950 |
| **Construction and Engineering — 5.0%** |  |  |
| Argan, Inc. | 2323 | 727842 |
| EMCOR Group, Inc. | 1983 | 1213180 |
| Granite Construction, Inc. | 13659 | 1575566 |
| IES Holdings, Inc.<sup>(1)</sup> | 356 | 138491 |
| Primoris Services Corp. | 9440 | 1171882 |
| Sterling Infrastructure, Inc.<sup>(1)</sup> | 7085 | 2169639 |
| Tutor Perini Corp. | 8934 | 598757 |
| Valmont Industries, Inc. | 392 | 157709 |
|  |  | 7753066 |
| **Consumer Finance — 2.3%** |  |  |
| Dave, Inc.<sup>(1)</sup> | 1036 | 229381 |
| Enova International, Inc.<sup>(1)</sup> | 13238 | 2081014 |
| FirstCash Holdings, Inc. | 3750 | 597675 |
| LendingTree, Inc.<sup>(1)</sup> | 2119 | 112498 |
| OneMain Holdings, Inc. | 2970 | 200623 |
| PROG Holdings, Inc. | 14752 | 435036 |
|  |  | 3656227 |
| **Consumer Staples Distribution & Retail — 2.0%** |  |  |
| Andersons, Inc. | 18906 | 1005232 |
| Maplebear, Inc.<sup>(1)</sup> | 7465 | 335776 |
| Sprouts Farmers Market, Inc.<sup>(1)</sup> | 10557 | 841076 |
| United Natural Foods, Inc.<sup>(1)</sup> | 23092 | 777508 |
| Weis Markets, Inc. | 2381 | 152598 |
|  |  | 3112190 |
| **Containers and Packaging — 0.2%** |  |  |
| Myers Industries, Inc. | 16883 | 316050 |
| **Distributors — 0.4%** |  |  |
| GigaCloud Technology, Inc., Class A<sup>(1)</sup> | 16355 | 642424 |
| **Diversified Consumer Services — 1.8%** |  |  |
| American Public Education, Inc.<sup>(1)</sup> | 4846 | 183179 |
| Coursera, Inc.<sup>(1)</sup> | 52384 | 385546 |
| Frontdoor, Inc.<sup>(1)</sup> | 30268 | 1746161 |
| Perdoceo Education Corp. | 10304 | 302217 |
| Stride, Inc.<sup>(1)</sup> | 2196 | 142586 |
|  |  | 2759689 |
| **Diversified REITs — 0.3%** |  |  |
| American Assets Trust, Inc. | 22826 | 432096 |
| **Diversified Telecommunication Services — 0.7%** |  |  |
| GCI Liberty, Inc., Class C<sup>(1)</sup> | 11324 | 421366 |
| IDT Corp., Class B | 7493 | 383716 |
| Liberty Latin America Ltd., Class C<sup>(1)</sup> | 45080 | 336297 |
|  |  | 1141379 |
| **Electrical Equipment — 3.2%** |  |  |
| Allient, Inc. | 6999 | 376196 |
| Array Technologies, Inc.<sup>(1)(2)</sup> | 74700 | 688734 |
| Bloom Energy Corp., Class A<sup>(1)</sup> | 13660 | 1186918 |
| EnerSys | 2255 | 330921 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Nextpower, Inc., Class A<sup>(1)</sup> | 12956 | $1128597 |
| Powell Industries, Inc.<sup>(2)</sup> | 2140 | 682189 |
| Vicor Corp.<sup>(1)</sup> | 6058 | 663957 |
|  |  | 5057512 |
| **Electronic Equipment, Instruments and Components — 2.0%** |  |  |
| Arlo Technologies, Inc.<sup>(1)</sup> | 47948 | 670793 |
| Daktronics, Inc.<sup>(1)</sup> | 11725 | 231803 |
| Kimball Electronics, Inc.<sup>(1)</sup> | 11998 | 333784 |
| nLight, Inc.<sup>(1)</sup> | 6699 | 251280 |
| Sanmina Corp.<sup>(1)</sup> | 2116 | 317548 |
| ScanSource, Inc.<sup>(1)</sup> | 10101 | 394545 |
| TTM Technologies, Inc.<sup>(1)</sup> | 12582 | 868158 |
|  |  | 3067911 |
| **Energy Equipment and Services — 0.8%** |  |  |
| ProPetro Holding Corp.<sup>(1)</sup> | 21105 | 200708 |
| Tidewater, Inc.<sup>(1)</sup> | 1838 | 92837 |
| Weatherford International PLC | 12583 | 984746 |
|  |  | 1278291 |
| **Entertainment — 0.0%** |  |  |
| IMAX Corp.<sup>(1)</sup> | 1655 | 61169 |
| **Financial Services — 1.1%** |  |  |
| Essent Group Ltd. | 7912 | 514359 |
| Flywire Corp.<sup>(1)</sup> | 38047 | 538746 |
| Remitly Global, Inc.<sup>(1)</sup> | 53608 | 739790 |
|  |  | 1792895 |
| **Food Products — 0.2%** |  |  |
| Dole PLC | 3225 | 48343 |
| Fresh Del Monte Produce, Inc. | 7432 | 264802 |
|  |  | 313145 |
| **Gas Utilities — 0.5%** |  |  |
| UGI Corp. | 20484 | 766716 |
| **Health Care Equipment and Supplies — 2.5%** |  |  |
| Align Technology, Inc.<sup>(1)</sup> | 851 | 132884 |
| Alphatec Holdings, Inc.<sup>(1)</sup> | 9263 | 194893 |
| AtriCure, Inc.<sup>(1)</sup> | 15629 | 618283 |
| Embecta Corp. | 27698 | 329052 |
| Inspire Medical Systems, Inc.<sup>(1)</sup> | 1061 | 97856 |
| LivaNova PLC<sup>(1)</sup> | 9757 | 600348 |
| Merit Medical Systems, Inc.<sup>(1)</sup> | 2914 | 256840 |
| Novocure Ltd.<sup>(1)</sup> | 30416 | 393279 |
| Orthofix Medical, Inc.<sup>(1)</sup> | 12954 | 196383 |
| Tactile Systems Technology, Inc.<sup>(1)</sup> | 11003 | 319087 |
| Tandem Diabetes Care, Inc.<sup>(1)</sup> | 32370 | 711493 |
|  |  | 3850398 |
| **Health Care Providers and Services — 2.7%** |  |  |
| Addus HomeCare Corp.<sup>(1)</sup> | 3072 | 329902 |
| Castle Biosciences, Inc.<sup>(1)</sup> | 13557 | 527367 |
| Guardant Health, Inc.<sup>(1)</sup> | 7114 | 726624 |
| Option Care Health, Inc.<sup>(1)</sup> | 47475 | 1512554 |
| Pediatrix Medical Group, Inc.<sup>(1)</sup> | 14914 | 319010 |
| Progyny, Inc.<sup>(1)</sup> | 32415 | 832417 |
|  |  | 4247874 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| **Health Care REITs — 0.7%** | | |
| CareTrust REIT, Inc. | 17268 | $624411 |
| Diversified Healthcare Trust | 83979 | 407298 |
|  |  | 1031709 |
| **Health Care Technology — 0.7%** |  |  |
| Phreesia, Inc.<sup>(1)</sup> | 19690 | 333155 |
| Schrodinger, Inc.<sup>(1)</sup> | 18192 | 325273 |
| Teladoc Health, Inc.<sup>(1)</sup> | 63985 | 447895 |
|  |  | 1106323 |
| **Hotel & Resort REITs — 0.6%** |  |  |
| DiamondRock Hospitality Co. | 99877 | 894898 |
| Summit Hotel Properties, Inc. | 19937 | 97093 |
|  |  | 991991 |
| **Hotels, Restaurants and Leisure — 1.0%** |  |  |
| Brinker International, Inc.<sup>(1)</sup> | 1919 | 275415 |
| Rush Street Interactive, Inc.<sup>(1)</sup> | 38074 | 739778 |
| Super Group SGHC Ltd. | 40436 | 483210 |
|  |  | 1498403 |
| **Household Durables — 1.9%** |  |  |
| Cavco Industries, Inc.<sup>(1)</sup> | 2871 | 1696015 |
| Champion Homes, Inc.<sup>(1)</sup> | 7705 | 651072 |
| Sonos, Inc.<sup>(1)</sup> | 31009 | 544518 |
|  |  | 2891605 |
| **Household Products — 0.2%** |  |  |
| Central Garden & Pet Co., Class A<sup>(1)</sup> | 12595 | 367648 |
| **Independent Power and Renewable Electricity Producers — 0.2%** |  |  |
| AES Corp. | 3394 | 48670 |
| Hallador Energy Co.<sup>(1)</sup> | 15653 | 298033 |
|  |  | 346703 |
| **Industrial REITs — 0.2%** |  |  |
| Innovative Industrial Properties, Inc.<sup>(2)</sup> | 6645 | 314707 |
| **Insurance — 1.3%** |  |  |
| Horace Mann Educators Corp. | 6475 | 299015 |
| Kinsale Capital Group, Inc. | 333 | 130243 |
| Palomar Holdings, Inc.<sup>(1)</sup> | 12335 | 1662265 |
|  |  | 2091523 |
| **Interactive Media and Services — 1.5%** |  |  |
| Cargurus, Inc.<sup>(1)</sup> | 22526 | 863872 |
| Cars.com, Inc.<sup>(1)</sup> | 27882 | 340160 |
| EverQuote, Inc., Class A<sup>(1)</sup> | 3406 | 91962 |
| Match Group, Inc. | 9319 | 300911 |
| TripAdvisor, Inc.<sup>(1)</sup> | 12052 | 175477 |
| Yelp, Inc.<sup>(1)</sup> | 17455 | 530458 |
|  |  | 2302840 |
| **IT Services — 0.2%** |  |  |
| ASGN, Inc.<sup>(1)</sup> | 5778 | 278326 |
| **Leisure Products — 0.7%** |  |  |
| Brunswick Corp. | 4181 | 310398 |
| Peloton Interactive, Inc., Class A<sup>(1)</sup> | 12118 | 74647 |
| Polaris, Inc. | 10565 | 668236 |
|  |  | 1053281 |
| **Life Sciences Tools and Services — 0.8%** |  |  |
| 10X Genomics, Inc., Class A<sup>(1)</sup> | 43846 | 715128 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Charles River Laboratories International, Inc.<sup>(1)</sup> | 1507 | $300617 |
| Fortrea Holdings, Inc.<sup>(1)</sup> | 12536 | 216246 |
| Medpace Holdings, Inc.<sup>(1)</sup> | 140 | 78631 |
|  |  | 1310622 |
| **Machinery — 2.5%** |  |  |
| Blue Bird Corp.<sup>(1)(2)</sup> | 15678 | 736866 |
| Kennametal, Inc. | 5590 | 158812 |
| Microvast Holdings, Inc.<sup>(1)(2)</sup> | 55327 | 154916 |
| Mueller Industries, Inc. | 17154 | 1969279 |
| Proto Labs, Inc.<sup>(1)</sup> | 11864 | 600200 |
| REV Group, Inc. | 4403 | 267746 |
|  |  | 3887819 |
| **Marine Transportation — 0.4%** |  |  |
| Matson, Inc. | 5489 | 678166 |
| **Media — 0.2%** |  |  |
| Magnite, Inc.<sup>(1)</sup> | 18369 | 298129 |
| **Metals and Mining — 2.1%** |  |  |
| Commercial Metals Co. | 35706 | 2471569 |
| Compass Minerals International, Inc.<sup>(1)(2)</sup> | 16590 | 325828 |
| Constellium SE<sup>(1)</sup> | 27206 | 512833 |
|  |  | 3310230 |
| **Multi-Utilities — 0.5%** |  |  |
| Avista Corp. | 20473 | 789029 |
| **Office REITs — 0.1%** |  |  |
| Hudson Pacific Properties, Inc.<sup>(1)</sup> | 11152 | 120776 |
| **Oil, Gas and Consumable Fuels — 2.2%** |  |  |
| Crescent Energy Co., Class A | 113523 | 952458 |
| DHT Holdings, Inc. | 8457 | 103260 |
| HF Sinclair Corp. | 7833 | 360945 |
| Ovintiv, Inc. | 41800 | 1638142 |
| Par Pacific Holdings, Inc.<sup>(1)</sup> | 4024 | 141403 |
| World Kinect Corp. | 8026 | 188049 |
|  |  | 3384257 |
| **Pharmaceuticals — 4.2%** |  |  |
| Amneal Pharmaceuticals, Inc.<sup>(1)</sup> | 92652 | 1167415 |
| ANI Pharmaceuticals, Inc.<sup>(1)</sup> | 8701 | 686857 |
| Avadel Pharmaceuticals PLC<sup>(1)</sup> | 10936 | 235671 |
| Collegium Pharmaceutical, Inc.<sup>(1)</sup> | 15780 | 730614 |
| Harmony Biosciences Holdings, Inc.<sup>(1)</sup> | 21565 | 806962 |
| Indivior PLC<sup>(1)</sup> | 23668 | 849208 |
| Innoviva, Inc.<sup>(1)</sup> | 23044 | 460650 |
| Jazz Pharmaceuticals PLC<sup>(1)</sup> | 1773 | 301410 |
| Pacira BioSciences, Inc.<sup>(1)</sup> | 29475 | 762813 |
| Septerna, Inc.<sup>(1)</sup> | 9948 | 277350 |
| Supernus Pharmaceuticals, Inc.<sup>(1)</sup> | 4510 | 224147 |
| Theravance Biopharma, Inc.<sup>(1)</sup> | 4774 | 89321 |
|  |  | 6592418 |
| **Professional Services — 2.8%** |  |  |
| Innodata, Inc.<sup>(1)(2)</sup> | 5956 | 303458 |
| Legalzoom.com, Inc.<sup>(1)</sup> | 52957 | 525863 |
| Maximus, Inc. | 3285 | 283561 |
| Planet Labs PBC<sup>(1)</sup> | 75575 | 1490339 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Upwork, Inc.<sup>(1)</sup> | 50992 | $1010661 |
| Verra Mobility Corp.<sup>(1)</sup> | 34228 | 767050 |
|  |  | 4380932 |
| **Real Estate Management and Development — 1.1%** |  |  |
| Compass, Inc., Class A<sup>(1)</sup> | 91429 | 966405 |
| Cushman & Wakefield Ltd.<sup>(1)</sup> | 30937 | 500870 |
| eXp World Holdings, Inc.<sup>(2)</sup> | 29004 | 262486 |
|  |  | 1729761 |
| **Retail REITs — 0.7%** |  |  |
| CBL & Associates Properties, Inc. | 8834 | 326858 |
| Getty Realty Corp. | 5537 | 151548 |
| Tanger, Inc. | 18697 | 623919 |
|  |  | 1102325 |
| **Semiconductors and Semiconductor Equipment — 4.1%** |  |  |
| Ambarella, Inc.<sup>(1)</sup> | 4329 | 306666 |
| Amkor Technology, Inc. | 15302 | 604123 |
| Cirrus Logic, Inc.<sup>(1)</sup> | 12992 | 1539552 |
| Credo Technology Group Holding Ltd.<sup>(1)</sup> | 6608 | 950825 |
| FormFactor, Inc.<sup>(1)</sup> | 5240 | 292287 |
| Impinj, Inc.<sup>(1)</sup> | 2260 | 393263 |
| Kulicke & Soffa Industries, Inc. | 1638 | 74627 |
| Onto Innovation, Inc.<sup>(1)</sup> | 733 | 115712 |
| Penguin Solutions, Inc.<sup>(1)</sup> | 29213 | 571406 |
| Rambus, Inc.<sup>(1)</sup> | 5997 | 551064 |
| Semtech Corp.<sup>(1)</sup> | 10921 | 804769 |
| Ultra Clean Holdings, Inc.<sup>(1)</sup> | 9729 | 246436 |
|  |  | 6450730 |
| **Software — 7.3%** |  |  |
| Adeia, Inc. | 28681 | 494747 |
| Alarm.com Holdings, Inc.<sup>(1)</sup> | 2524 | 128775 |
| Amplitude, Inc., Class A<sup>(1)</sup> | 22808 | 264117 |
| Appfolio, Inc., Class A<sup>(1)</sup> | 324 | 75379 |
| Appian Corp., Class A<sup>(1)</sup> | 4277 | 151491 |
| Asana, Inc., Class A<sup>(1)</sup> | 25733 | 352799 |
| Blackbaud, Inc.<sup>(1)</sup> | 5119 | 324135 |
| BlackLine, Inc.<sup>(1)</sup> | 3384 | 187101 |
| Box, Inc., Class A<sup>(1)</sup> | 45463 | 1359798 |
| Clear Secure, Inc., Class A | 18727 | 656943 |
| Commvault Systems, Inc.<sup>(1)</sup> | 3891 | 487776 |
| Five9, Inc.<sup>(1)</sup> | 18477 | 370464 |
| InterDigital, Inc.<sup>(2)</sup> | 1140 | 362953 |
| LiveRamp Holdings, Inc.<sup>(1)</sup> | 29035 | 852758 |
| Pagaya Technologies Ltd., Class A<sup>(1)</sup> | 21969 | 459152 |
| PagerDuty, Inc.<sup>(1)</sup> | 17335 | 227262 |
| Pegasystems, Inc. | 14290 | 853399 |
| Q2 Holdings, Inc.<sup>(1)</sup> | 14670 | 1058587 |
| Rapid7, Inc.<sup>(1)</sup> | 5134 | 78037 |
| RingCentral, Inc., Class A<sup>(1)</sup> | 28126 | 812279 |
| SPS Commerce, Inc.<sup>(1)</sup> | 4037 | 359818 |
| Tenable Holdings, Inc.<sup>(1)</sup> | 7765 | 182711 |
| Teradata Corp.<sup>(1)</sup> | 9689 | 294933 |
| UiPath, Inc., Class A<sup>(1)</sup> | 5442 | 89194 |
| Varonis Systems, Inc.<sup>(1)</sup> | 949 | 31127 |

---

------

Schedule of Investments - Small Company Fund

---

| | | |
|:---|:---|:---|
| | **Shares** | **Value** |
| Yext, Inc.<sup>(1)</sup> | 50252 | $405031 |
| Zeta Global Holdings Corp., Class A<sup>(1)</sup> | 22332 | 454456 |
|  |  | 11375222 |
| **Specialty Retail — 3.8%** |  |  |
| Abercrombie & Fitch Co., Class A<sup>(1)</sup> | 8999 | 1132704 |
| American Eagle Outfitters, Inc. | 67623 | 1783218 |
| Bath & Body Works, Inc. | 13109 | 263229 |
| RealReal, Inc.<sup>(1)</sup> | 46434 | 732728 |
| Signet Jewelers Ltd. | 15252 | 1264086 |
| Warby Parker, Inc., Class A<sup>(1)</sup> | 31820 | 693358 |
|  |  | 5869323 |
| **Textiles, Apparel and Luxury Goods — 0.6%** |  |  |
| Crocs, Inc.<sup>(1)</sup> | 9656 | 825781 |
| Steven Madden Ltd. | 1100 | 45804 |
|  |  | 871585 |
| **Trading Companies and Distributors — 1.3%** |  |  |
| DNOW, Inc.<sup>(1)</sup> | 68979 | 913972 |
| DXP Enterprises, Inc.<sup>(1)</sup> | 3899 | 428071 |
| Rush Enterprises, Inc., Class A | 13492 | 727758 |
|  |  | 2069801 |
| **TOTAL COMMON STOCKS**<br>(Cost $122,383,965) |  | **155763454** |
| **RIGHTS — 0.0%** |  |  |
| **Biotechnology — 0.0%** |  |  |
| Poseida Therapeutics, Inc.<sup>(1)(2)</sup><br>(Cost $15,546) | 31092 | **15546** |
| **SHORT-TERM INVESTMENTS — 2.2%** |  |  |
| **Money Market Funds — 1.8%** |  |  |
| State Street Navigator Securities Lending Government Money Market Portfolio<sup>(3)</sup> | 2836122 | 2836122 |
| **Repurchase Agreements — 0.4%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 10/15/27, valued at $594,774), at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $583,124) |  | 583000 |
| **TOTAL SHORT-TERM INVESTMENTS**<br>(Cost $3,419,122) |  | **3419122** |
| **TOTAL INVESTMENT SECURITIES — 101.8%**<br>(Cost $125,818,633) |  | **159198122** |
| **OTHER ASSETS AND LIABILITIES — (1.8)%** |  | **(2882375)** |
| **TOTAL NET ASSETS — 100.0%** |  | $**156315747** |

---

**NOTES TO SCHEDULE OF INVESTMENTS**

(1)Non-income producing.

(2)Security, or a portion thereof, is on loan. At the period end, the aggregate value of securities on loan was $3,494,126. The amount of securities on loan indicated may not correspond with the securities on loan identified because securities with pending sales are in the process of recall from the brokers.

(3)Investment of cash collateral from securities on loan. At the period end, the aggregate value of the collateral held by the fund was $3,601,988, which includes securities collateral of $765,866.

------

Schedule of Investments - Small Company Fund

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks | $155763454 |  |  |
| Rights | 15546 |  |  |
| Short-Term Investments | 2836122 | $583000 |  |
|  | $158615122 | $583000 |  |

---

See Notes to Financial Statements.

------

Schedule of Investments - Utilities Fund

**DECEMBER 31, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
|<br>**COMMON STOCKS — 99.2%** | **Shares** | **Value** |
| **Electric Utilities — 61.5%** | | |
| American Electric Power Co., Inc. | 136695 | $15762300 |
| Constellation Energy Corp. | 39040 | 13791661 |
| Duke Energy Corp. | 139019 | 16294417 |
| Edison International | 83548 | 5014551 |
| Entergy Corp. | 87778 | 8113321 |
| Eversource Energy | 132428 | 8916377 |
| Exelon Corp. | 286564 | 12491325 |
| FirstEnergy Corp. | 199930 | 8950866 |
| NextEra Energy, Inc. | 377882 | 30336367 |
| NRG Energy, Inc. | 33843 | 5389159 |
| OGE Energy Corp. | 109892 | 4692388 |
| PG&E Corp. | 478857 | 7695232 |
| Pinnacle West Capital Corp. | 74525 | 6610368 |
| Portland General Electric Co. | 99260 | 4763487 |
| PPL Corp. | 273130 | 9565013 |
| Southern Co. | 149982 | 13078430 |
| Xcel Energy, Inc. | 52730 | 3894638 |
|  |  | 175359900 |
| **Gas Utilities — 8.2%** |  |  |
| Atmos Energy Corp. | 28772 | 4823050 |
| New Jersey Resources Corp. | 103670 | 4781260 |
| Northwest Natural Holding Co. | 100381 | 4691808 |
| ONE Gas, Inc. | 59406 | 4589114 |
| Southwest Gas Holdings, Inc. | 57264 | 4582265 |
|  |  | 23467497 |
| **Independent Power Producers and Energy Traders — 5.6%** |  |  |
| AES Corp. | 482930 | 6925216 |
| Vistra Corp. | 56186 | 9064488 |
|  |  | 15989704 |
| **Multi-Utilities — 22.2%** |  |  |
| Ameren Corp. | 48370 | 4830228 |
| Consolidated Edison, Inc. | 114486 | 11370750 |
| Dominion Energy, Inc. | 232848 | 13642564 |
| DTE Energy Co. | 73543 | 9485576 |
| NiSource, Inc. | 100806 | 4209659 |
| Public Service Enterprise Group, Inc. | 89836 | 7213831 |
| Sempra | 118684 | 10478610 |
| WEC Energy Group, Inc. | 18571 | 1958498 |
|  |  | 63189716 |
| **Water Utilities — 1.7%** |  |  |
| Essential Utilities, Inc. | 124168 | 4763084 |
| **TOTAL COMMON STOCKS**<br>(Cost $216,277,328) |  | **282769901** |
| **SHORT-TERM INVESTMENTS — 0.7%** |  |  |
| **Repurchase Agreements — 0.7%** |  |  |
| Fixed Income Clearing Corp., (collateralized by various U.S. Treasury obligations, 1.625%, 10/15/27, valued at $2,089,064),at 3.82%, dated 12/31/25, due 1/2/26 (Delivery value $2,048,435)<br>(Cost $2,048,000) |  | **2048000** |
| **TOTAL INVESTMENT SECURITIES — 99.9%**<br>(Cost $218,325,328) |  | **284817901** |
| **OTHER ASSETS AND LIABILITIES — 0.1%** |  | **169177** |
| **TOTAL NET ASSETS — 100.0%** |  | $**284987078** |

---

------

Schedule of Investments - Utilities Fund

**NOTES TO SCHEDULE OF INVESTMENTS**

**FAIR VALUE MEASUREMENTS**

The following is a summary of the fund's valuation inputs as of period end.

---

| | | | |
|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** |
| **Assets** | | | |
| **Investment Securities** | | | |
| Common Stocks | $282769901 |  |  |
| Short-Term Investments |  | $2048000 |  |
|  | $282769901 | $2048000 |  |

---

See Notes to Financial Statements.

------

Statements of Assets and Liabilities

---

| | | |
|:---|:---|:---|
| **DECEMBER 31, 2025 (UNAUDITED)** | | |
| | **Disciplined Core Value Fund** | **Disciplined Growth Fund** |
| **Assets** | | |
| Investment securities, at value | $1912439299 | $481045041 |
| Cash | 43078 | 4343 |
| Receivable for capital shares sold | 331678 | 117260 |
| Dividends and interest receivable | 2176251 | 34257 |
|  | 1914990306 | 481200901 |
| **Liabilities** |  |  |
| Payable for capital shares redeemed | 1942840 | 177332 |
| Accrued management fees | 1039798 | 362106 |
| Distribution and service fees payable | 31826 | 23181 |
| Dividends payable |  | 216 |
|  | 3014464 | 562835 |
| **Net Assets** | $1911975842 | $480638066 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $1480970832 | $190068738 |
| Distributable earnings (loss) | 431005010 | 290569328 |
|  | $1911975842 | $480638066 |
| Investment securities, at cost | $1516814505 | $202640560 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** |
| Investor Class, $0.01 Par Value | $1625968151 | 42246492 | $38.49 |
| I Class, $0.01 Par Value | $153844818 | 3986517 | $38.59 |
| A Class, $0.01 Par Value | $106389186 | 2772057 | $38.38 |
| &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) |  | $40.72 |
| C Class, $0.01 Par Value | $3388839 | 88614 | $38.24 |
| R Class, $0.01 Par Value | $10843257 | 281872 | $38.47 |
| R5 Class, $0.01 Par Value | $11541591 | 298943 | $38.61 |
| **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** |
| Investor Class, $0.01 Par Value | $311411759 | 13531784 | $23.01 |
| I Class, $0.01 Par Value | $82049342 | 3462422 | $23.70 |
| Y Class, $0.01 Par Value | $347033 | 14557 | $23.84 |
| A Class, $0.01 Par Value | $66247710 | 3044864 | $21.76 |
| &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) |  | $23.09 |
| C Class, $0.01 Par Value | $1426484 | 89524 | $15.93 |
| R Class, $0.01 Par Value | $17869882 | 898211 | $19.89 |
| R5 Class, $0.01 Par Value | $1285856 | 54180 | $23.73 |

---

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

---

| | | |
|:---|:---|:---|
| **DECEMBER 31, 2025 (UNAUDITED)** | | |
| | **Equity Growth Fund** | **Global Gold Fund** |
| **Assets** | | |
| Investment securities, at value | $1846420597 | $1763110434 |
| Investment made with cash collateral received for securities on loan, at value |  | 9927384 |
| Cash | 23726 | 33385 |
| Receivable for investments sold |  | 197248 |
| Receivable for capital shares sold | 311774 | 2620568 |
| Dividends and interest receivable | 925593 | 53893 |
| Securities lending receivable |  | 25230 |
|  | 1847681690 | 1775968142 |
| **Liabilities** |  |  |
| Payable for collateral received for securities on loan |  | 9927384 |
| Payable for capital shares redeemed | 1158077 | 1064466 |
| Accrued management fees | 1013785 | 937692 |
| Distribution and service fees payable | 22052 | 20451 |
|  | 2193914 | 11949993 |
| **Net Assets** | $1845487776 | $1764018149 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $1072461465 | $605229346 |
| Distributable earnings (loss) | 773026311 | 1158788803 |
|  | $1845487776 | $1764018149 |
| Investment securities, at cost | $1118288606 | $638775886 |
| Investment securities on loan, at value |  | $18350763 |
| Investment made with cash collateral received for securities on loan, at cost |  | $9927384 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** |
| Investor Class, $0.01 Par Value | $1704610777 | 47840692 | $35.63 |
| I Class, $0.01 Par Value | $61756331 | 1729818 | $35.70 |
| A Class, $0.01 Par Value | $51049825 | 1436564 | $35.54 |
| &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) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | $37.71 |
| C Class, $0.01 Par Value | $1171037 | 34345 | $34.10 |
| R Class, $0.01 Par Value | $23827473 | 670410 | $35.54 |
| R5 Class, $0.01 Par Value | $3072333 | 86037 | $35.71 |
| **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** |
| Investor Class, $0.01 Par Value | $1580832484 | 51051124 | $30.97 |
| I Class, $0.01 Par Value | $118426900 | 3777194 | $31.35 |
| A Class, $0.01 Par Value | $42494931 | 1405644 | $30.23 |
| &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) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | $32.07 |
| C Class, $0.01 Par Value | $5881468 | 205761 | $28.58 |
| R Class, $0.01 Par Value | $16382366 | 548749 | $29.85 |

---

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

---

| | | |
|:---|:---|:---|
| **DECEMBER 31, 2025 (UNAUDITED)** | **DECEMBER 31, 2025 (UNAUDITED)** | |
| | **Small Company Fund** | **Utilities Fund** |
| **Assets** | | |
| Investment securities, at value | $156362000 | $284817901 |
| Investment made with cash collateral received for securities on loan, at value | 2836122 |  |
| Cash |  | 6276 |
| Foreign currency holdings, at value |  | 13 |
| Receivable for investments sold | 774550 |  |
| Receivable for capital shares sold | 63418 | 85679 |
| Dividends and interest receivable | 66576 | 408841 |
| Securities lending receivable | 1385 |  |
|  | 160104051 | 285318710 |
| **Liabilities** |  |  |
| Disbursements in excess of demand deposit cash | 6012 |  |
| Payable for collateral received for securities on loan | 2836122 |  |
| Payable for investments purchased | 379135 |  |
| Payable for capital shares redeemed | 450897 | 172904 |
| Accrued management fees | 113582 | 158728 |
| Distribution and service fees payable | 2556 |  |
|  | 3788304 | 331632 |
| **Net Assets** | $156315747 | $284987078 |
| **Net Assets Consist of:** |  |  |
| Capital (par value and paid-in surplus) | $121305710 | $211870213 |
| Distributable earnings (loss) | 35010037 | 73116865 |
|  | $156315747 | $284987078 |
| Investment securities, at cost | $122982511 | $218325328 |
| Investment securities on loan, at value | $3494126 |  |
| Investment made with cash collateral received for securities on loan, at cost | $2836122 |  |
| Foreign currency holdings, at cost |  | $12 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Fund/Class** | **Net Assets** | **Shares Outstanding** | **Net Asset Value Per Share** |
| **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | **Small Company Fund** |
| Investor Class, $0.01 Par Value | $139609320 | 7855540 | $17.77 |
| I Class, $0.01 Par Value | $7310430 | 408505 | $17.90 |
| A Class, $0.01 Par Value | $6766445 | 394548 | $17.15 |
| &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) | &nbsp;&nbsp;&nbsp;&nbsp;Maximum Offering Price Per Share (Net asset value divide by 0.9425) | $18.20 |
| C Class, $0.01 Par Value | $119742 | 7790 | $15.37 |
| R Class, $0.01 Par Value | $2257474 | 137507 | $16.42 |
| R5 Class, $0.01 Par Value | $252336 | 14084 | $17.92 |
| **Utilities Fund** | **Utilities Fund** | **Utilities Fund** | **Utilities Fund** |
| Investor Class, $0.01 Par Value | $284987078 | 15491726 | $18.40 |

---

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 DECEMBER 31, 2025 (UNAUDITED)** | | |
| | **Disciplined Core Value Fund** | **Disciplined Growth Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Dividends | $18697062 | $1151345 |
| Interest | 190169 | 55209 |
|  | 18887231 | 1206554 |
| **Expenses:** |  |  |
| Management fees | 6100142 | 2330733 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 166685 | 81857 |
| &nbsp;&nbsp;&nbsp;C Class | 17673 | 7702 |
| &nbsp;&nbsp;&nbsp;R Class | 27531 | 47107 |
| Directors' fees and expenses | 63394 | 15814 |
| Other expenses | 289 |  |
|  | 6375714 | 2483213 |
| Fees waived |  | (218018) |
|  | 6375714 | 2265195 |
| **Net investment income (loss)** | 12511517 | (1058641) |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on investment transactions** | 118272387 | 33079329 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 85718413 | 18787355 |
| Translation of assets and liabilities in foreign currencies | (3251) |  |
|  | 85715162 | 18787355 |
| **Net realized and unrealized gain (loss)** | 203987549 | 51866684 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $216499066 | $50808043 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED)** | | |
| | **Equity Growth Fund** | **Global Gold Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Dividends | $10564229 | $10775360 |
| Interest | 194991 | 211024 |
| Securities lending, net |  | 70015 |
| Less foreign taxes withheld |  | (714075) |
|  | 10759220 | 10342324 |
| **Expenses:** |  |  |
| Management fees | 5803378 | 4527136 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 61834 | 41021 |
| &nbsp;&nbsp;&nbsp;C Class | 5198 | 23303 |
| &nbsp;&nbsp;&nbsp;R Class | 59410 | 32650 |
| Directors' fees and expenses | 59062 | 43577 |
| Other expenses | 827 | 2636 |
|  | 5989709 | 4670323 |
| **Net investment income (loss)** | 4769511 | 5672001 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 113841109 | 146238519 |
| Foreign currency translation transactions | 20378 | (76363) |
|  | 113861487 | 146162156 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 112826466 | 544671737 |
| Translation of assets and liabilities in foreign currencies | (23436) | 238 |
|  | 112803030 | 544671975 |
| **Net realized and unrealized gain (loss)** | 226664517 | 690834131 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $231434028 | $696506132 |

---

See Notes to Financial Statements.

------

Statements of Operations

---

| | | |
|:---|:---|:---|
| **FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED)** | **FOR THE SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED)** | |
| | **Small Company Fund** | **Utilities Fund** |
| **Investment Income (Loss)** | | |
| **Income:** | | |
| Dividends | $818550 | $4561514 |
| Interest | 17480 | 39692 |
| Securities lending, net | 9553 | 1631 |
| Less foreign taxes withheld | (2666) | (8649) |
|  | 842917 | 4594188 |
| **Expenses:** |  |  |
| Management fees | 651743 | 949904 |
| Distribution and service fees: |  |  |
| &nbsp;&nbsp;&nbsp;A Class | 8488 |  |
| &nbsp;&nbsp;&nbsp;C Class | 581 |  |
| &nbsp;&nbsp;&nbsp;R Class | 5667 |  |
| Directors' fees and expenses | 5057 | 9591 |
|  | 671536 | 959495 |
| **Net investment income (loss)** | 171381 | 3634693 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| **Net realized gain (loss) on:** |  |  |
| Investment transactions | 12538442 | 9730079 |
| Foreign currency translation transactions |  | (18) |
|  | 12538442 | 9730061 |
| **Change in net unrealized appreciation (depreciation) on:** |  |  |
| Investments | 6118583 | 3365134 |
| Translation of assets and liabilities in foreign currencies |  | (9) |
|  | 6118583 | 3365125 |
| **Net realized and unrealized gain (loss)** | 18657025 | 13095186 |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | $18828406 | $16729879 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | | |
| | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** |
| **Increase (Decrease) in Net Assets** | **December 31, 2025** | **June 30, 2025** | **December 31, 2025** | **June 30, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $12511517 | $26496423 | $(1058641) | $(1552708) |
| Net realized gain (loss) | 118272387 | 180622892 | 33079329 | 57397824 |
| Change in net unrealized appreciation (depreciation) | 85715162 | (46980135) | 18787355 | 7332018 |
| Net increase (decrease) in net assets resulting from operations | 216499066 | 160139180 | 50808043 | 63177134 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (127816181) | (22539846) | (37473252) | (93358386) |
| &nbsp;&nbsp;&nbsp;I Class | (12291911) | (2880538) | (10104796) | (29983980) |
| &nbsp;&nbsp;&nbsp;Y Class |  |  | (43509) | (170220) |
| &nbsp;&nbsp;&nbsp;A Class | (8278061) | (1692103) | (8427690) | (19891592) |
| &nbsp;&nbsp;&nbsp;C Class | (255288) | (16580) | (238842) | (1164007) |
| &nbsp;&nbsp;&nbsp;R Class | (822582) | (106311) | (2456283) | (5680778) |
| &nbsp;&nbsp;&nbsp;R5 Class | (1043385) | (504868) | (151031) | (393269) |
| Decrease in net assets from distributions | (150507408) | (27740246) | (58895403) | (150642232) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (45292065) | (231044139) | 34333502 | 94564663 |
| **Net increase (decrease) in net assets** | 20699593 | (98645205) | 26246142 | 7099565 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1891276249 | 1989921454 | 454391924 | 447292359 |
| End of period | $1911975842 | $1891276249 | $480638066 | $454391924 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | | |
| | **Equity Growth Fund** | **Equity Growth Fund** | **Global Gold Fund** | **Global Gold Fund** |
| **Increase (Decrease) in Net Assets** | **December 31, 2025** | **June 30, 2025** | **December 31, 2025** | **June 30, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $4769511 | $11168650 | $5672001 | $7430883 |
| Net realized gain (loss) | 113861487 | 200560745 | 146162156 | 41966498 |
| Change in net unrealized appreciation (depreciation) | 112803030 | (14279270) | 544671975 | 344301578 |
| Net increase (decrease) in net assets resulting from operations | 231434028 | 197450125 | 696506132 | 393698959 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (173143812) | (10452449) | (8265539) | (11064269) |
| &nbsp;&nbsp;&nbsp;I Class | (6411034) | (638776) | (731984) | (1064095) |
| &nbsp;&nbsp;&nbsp;A Class | (5135189) | (208018) | (169290) | (270032) |
| &nbsp;&nbsp;&nbsp;C Class | (119083) |  | (755) | (12407) |
| &nbsp;&nbsp;&nbsp;R Class | (2341628) | (36142) | (45332) | (73101) |
| &nbsp;&nbsp;&nbsp;R5 Class | (308209) | (32926) |  |  |
| Decrease in net assets from distributions | (187458955) | (11368311) | (9212900) | (12483904) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | 87356000 | (155359234) | 17152404 | 45073580 |
| **Net increase (decrease) in net assets** | 131331073 | 30722580 | 704445636 | 426288635 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 1714156703 | 1683434123 | 1059572513 | 633283878 |
| End of period | $1845487776 | $1714156703 | $1764018149 | $1059572513 |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | **SIX MONTHS ENDED DECEMBER 31, 2025 (UNAUDITED) AND YEAR ENDED JUNE 30, 2025** | | |
| | **Small Company Fund** | **Small Company Fund** | **Utilities Fund** | **Utilities Fund** |
| **Increase (Decrease) in Net Assets** | **December 31, 2025** | **June 30, 2025** | **December 31, 2025** | **June 30, 2025** |
| **Operations** | | | | |
| Net investment income (loss) | $171381 | $481856 | $3634693 | $6749607 |
| Net realized gain (loss) | 12538442 | 6271589 | 9730061 | 31558824 |
| Change in net unrealized appreciation (depreciation) | 6118583 | 665278 | 3365125 | 18283091 |
| Net increase (decrease) in net assets resulting from operations | 18828406 | 7418723 | 16729879 | 56591522 |
| **Distributions to Shareholders** |  |  |  |  |
| From earnings: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investor Class | (3334172) | (460589) | (27137186) | (6845643) |
| &nbsp;&nbsp;&nbsp;I Class | (186253) | (39606) |  |  |
| &nbsp;&nbsp;&nbsp;A Class | (161527) | (5833) |  |  |
| &nbsp;&nbsp;&nbsp;C Class | (3109) |  |  |  |
| &nbsp;&nbsp;&nbsp;R Class | (55297) |  |  |  |
| &nbsp;&nbsp;&nbsp;R5 Class | (6378) | (2129) |  |  |
| Decrease in net assets from distributions | (3746736) | (508157) | (27137186) | (6845643) |
| **Capital Share Transactions** |  |  |  |  |
| Net increase (decrease) in net assets from capital share transactions (Note 5) | (4132794) | (16844435) | 18202895 | (14943750) |
| **Net increase (decrease) in net assets** | 10948876 | (9933869) | 7795588 | 34802129 |
| **Net Assets** |  |  |  |  |
| Beginning of period | 145366871 | 155300740 | 277191490 | 242389361 |
| End of period | $156315747 | $145366871 | $284987078 | $277191490 |

---

See Notes to Financial Statements.

------

Notes to Financial Statements

**DECEMBER 31, 2025 (UNAUDITED)** 

**1. Organization**

American Century Quantitative Equity Funds, Inc. (the corporation) is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and is organized as a Maryland corporation. The financial statements herein relate to the following funds and the respective share classes offered by the corporation.

---

| | |
|:---|:---|
| Disciplined Core Value Fund | Investor, I, A, C, R, R5 |
| Disciplined Growth Fund | Investor, I, Y, A, C, R, R5 |
| Equity Growth Fund | Investor, I, A, C, R, R5 |
| Global Gold Fund | Investor, I, A, C, R |
| Small Company Fund | Investor, I, A, C, R, R5 |
| Utilities Fund | Investor |

---

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.

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

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices 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. Repurchase agreements are valued at cost, which approximates fair value.

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

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

------

**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. The Schedule of Investments provides additional information on a fund's level classifications.

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

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

**Investment Income —** Dividend income less foreign taxes withheld, if any, is recorded as of the ex-dividend date. Distributions received on securities that represent a return of capital or long-term capital gain are recorded as a reduction of cost of investments and/or as a realized gain. A fund may estimate the components of distributions received that may be considered nontaxable distributions or long-term capital gain distributions for income tax purposes. Interest income 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. Securities lending income is net of fees and rebates earned by the lending agent for its services.

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

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

**Income Tax Status —** It is 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:

---

| | |
|:---|:---|
| Disciplined Core Value Fund | Quarterly |
| Disciplined Growth Fund | Semiannually |
| Equity Growth Fund | Quarterly |
| Global Gold Fund | Semiannually |
| Small Company Fund | Quarterly |
| Utilities Fund | Quarterly |

---

------

**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.

**Securities Lending —** Securities are lent to qualified financial institutions and brokers. State Street Bank & Trust Co. serves as securities lending agent to the funds pursuant to a Securities Lending Agreement. The lending of securities exposes a fund to risks such as: the borrowers may fail to return the loaned securities, the borrowers may not be able to provide additional collateral, a fund may experience delays in recovery of the loaned securities or delays in access to collateral, or a fund may experience losses related to the investment collateral. To minimize certain risks, loan counterparties pledge collateral in the form of cash and/or securities. The lending agent has agreed to indemnify the funds in the case of default of any securities borrowed. Cash collateral received is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, a money market mutual fund registered under the 1940 Act. The loans may also be secured by U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. By lending securities, a fund seeks to increase its net investment income through the receipt of interest and fees. Such income is reflected separately within the Statement of Operations. The value of loaned securities and related collateral outstanding at period end, if any, are shown on a gross basis within the Schedule of Investments and Statement of Assets and Liabilities, and the remaining contractual maturities of any securities lending transactions are considered overnight and continuous.

**3. Fees and Transactions with Related Parties**

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

**Management Fees —** The corporation has entered into a management agreement with ACIM, under which ACIM provides 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 fee consists of (1) an Investment Category Fee based on the daily net assets of the fund and certain other accounts managed by the investment advisor that are in the same broad investment category as the fund and (2) a Complex Fee based on the assets of all funds in the American Century Investments family of funds that have the same investment advisor and distributor as the fund. For purposes of determining the Investment Category Fee and Complex Fee, the assets of funds managed by the investment advisor that invest exclusively in the shares of other funds (funds of funds) are not included.

The Investment Category Fee range, the Complex Fee range and the effective annual management fee including any waiver impacts, if applicable, for the period ended December 31, 2025 are as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Disciplined Core Value Fund** | **Investment Category**<br>**Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** |
| Investor Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| I Class | 0.3380%<br> to 0.5200% | 0.0500% to 0.1100% | 0.45% |
| A Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| C Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| R Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| R5 Class | 0.3380%<br> to 0.5200% | 0.0500% to 0.1100% | 0.45% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Disciplined Growth Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** | **Effective Annual Management Fee** | **Management Fee Waived** |
| **Disciplined Growth Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Before Waiver** | **After Waiver** | **Management Fee Waived** |
| Investor Class | 0.6880%<br> to 0.8700% | 0.2500% to 0.3100% | 1.00% | 0.91% | $139686 |
| I Class | 0.6880%<br> to 0.8700% | 0.0500% to 0.1100% | 0.80% | 0.71% | $38822 |
| Y Class | 0.6880%<br> to 0.8700% | 0.0000% to 0.0600% | 0.75% | 0.66% | $182 |
| A Class | 0.6880%<br> to 0.8700% | 0.2500% to 0.3100% | 1.00% | 0.91% | $29468 |
| C Class | 0.6880%<br> to 0.8700% | 0.2500% to 0.3100% | 1.00% | 0.91% | $693 |
| R Class | 0.6880%<br> to 0.8700% | 0.2500% to 0.3100% | 1.00% | 0.91% | $8479 |
| R5 Class | 0.6880%<br> to 0.8700% | 0.0500% to 0.1100% | 0.80% | 0.71% | $688 |

---

During the period ended December 31, 2025, the investment advisor agreed to waive 0.09% of the fund's management fee. The investment advisor expects this waiver to continue until October 31, 2026 and cannot terminate it prior to such date without the approval of the Board of Directors.

------

---

| | | | |
|:---|:---|:---|:---|
| **Equity Growth Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** |
| Investor Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| I Class | 0.3380%<br> to 0.5200% | 0.0500% to 0.1100% | 0.45% |
| A Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| C Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| R Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| R5 Class | 0.3380%<br> to 0.5200% | 0.0500% to 0.1100% | 0.45% |

---

---

| | | | |
|:---|:---|:---|:---|
| **Global Gold Fund** | **Investment Category<br> Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** |
| Investor Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| I Class | 0.3380%<br> to 0.5200% | 0.0500% to 0.1100% | 0.45% |
| A Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| C Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |
| R Class | 0.3380%<br> to 0.5200% | 0.2500% to 0.3100% | 0.65% |

---

---

| | | | |
|:---|:---|:---|:---|
| **Small Company Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** |
| Investor Class | 0.5380%<br> to 0.7200% | 0.2500% to 0.3100% | 0.85% |
| I Class | 0.5380%<br> to 0.7200% | 0.0500% to 0.1100% | 0.65% |
| A Class | 0.5380%<br> to 0.7200% | 0.2500% to 0.3100% | 0.85% |
| C Class | 0.5380%<br> to 0.7200% | 0.2500% to 0.3100% | 0.85% |
| R Class | 0.5380%<br> to 0.7200% | 0.2500% to 0.3100% | 0.85% |
| R5 Class | 0.5380%<br> to 0.7200% | 0.0500% to 0.1100% | 0.65% |

---

---

| | | | |
|:---|:---|:---|:---|
| **Utilities Fund** | **Investment Category<br>Fee Range** | **Complex Fee Range** | **Effective Annual Management Fee** |
| Investor Class | 0.3380% to 0.5200% | 0.2500% to 0.3100% | 0.65% |

---

**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 December 31, 2025 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.

**Interfund Transactions —** A fund may enter into security transactions with other American Century Investments funds and other client accounts of the investment advisor, in accordance with the 1940 Act rules and procedures adopted by the Board of Directors. The rules and procedures require, among other things, that these transactions be effected at the independent current market price of the security. There were no interfund transactions during the period.

------

**4. Investment Transactions**

Investment transactions, excluding short-term investments, for the period ended December 31, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | **Disciplined Core Value Fund** | **Disciplined Growth Fund** | **Equity Growth Fund** |
| Purchases | $1023963314 | $112077030 | $743889211 |
| Sales | $1206142114 | $137515273 | $838236373 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Global Gold Fund** | **Small Company Fund** | **Utilities Fund** |
| Purchases | $445971466 | $68344511 | $88399059 |
| Sales | $434456403 | $74597041 | $93636038 |

---

**5. Capital Share Transactions** 

Transactions in shares of the funds were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Disciplined Core Value Fund** | | | | |
| **Investor Class/Shares Authorized** | 700000000 |  | 700000000 |  |
| Sold | 406454 | $15981332 | 1051771 | $38679109 |
| Issued in reinvestment of distributions | 3178270 | 122143895 | 581498 | 21426447 |
| Redeemed | (2996641) | (117987244) | (5590108) | (204618964) |
|  | 588083 | 20137983 | (3956839) | (144513408) |
| **I Class/Shares Authorized** | 210000000 |  | 210000000 |  |
| Sold | 134724 | 5302122 | 393206 | 14543778 |
| Issued in reinvestment of distributions | 316925 | 12213832 | 76482 | 2825690 |
| Redeemed | (703837) | (27629634) | (1734279) | (63212207) |
|  | (252188) | (10113680) | (1264591) | (45842739) |
| **A Class/Shares Authorized** | 50000000 |  | 50000000 |  |
| Sold | 134005 | 5238094 | 374532 | 13708112 |
| Issued in reinvestment of distributions | 198807 | 7621588 | 43005 | 1580448 |
| Redeemed | (1215527) | (49122877) | (1189190) | (44152665) |
|  | (882715) | (36263195) | (771653) | (28864105) |
| **C Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 957 | 37167 | 3490 | 129017 |
| Issued in reinvestment of distributions | 6365 | 242949 | 414 | 15140 |
| Redeemed | (18072) | (696195) | (32223) | (1171692) |
|  | (10750) | (416079) | (28319) | (1027535) |
| **R Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 16394 | 639328 | 51689 | 1891956 |
| Issued in reinvestment of distributions | 21101 | 810398 | 2842 | 104609 |
| Redeemed | (46581) | (1826380) | (125186) | (4565361) |
|  | (9086) | (376654) | (70655) | (2568796) |
| **R5 Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 89201 | 3623951 | 122152 | 4506757 |
| Issued in reinvestment of distributions | 26061 | 1004886 | 13076 | 483250 |
| Redeemed | (592526) | (22889277) | (358295) | (13217563) |
|  | (477264) | (18260440) | (223067) | (8227556) |
| Net increase (decrease) | (1043920) | $(45292065) | (6315124) | $(231044139) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Disciplined Growth Fund** | | | | |
| **Investor Class/Shares Authorized** | 480000000 |  | 480000000 |  |
| Sold | 766726 | $19123954 | 1910464 | $48552294 |
| Issued in reinvestment of distributions | 1587940 | 36316181 | 3821675 | 88853959 |
| Redeemed | (1193201) | (29814911) | (3198043) | (79228438) |
|  | 1161465 | 25625224 | 2534096 | 58177815 |
| **I Class/Shares Authorized** | 100000000 |  | 100000000 |  |
| Sold | 167160 | 4265750 | 857067 | 24280185 |
| Issued in reinvestment of distributions | 429142 | 10102003 | 1258916 | 29974784 |
| Redeemed | (510292) | (12749366) | (1559664) | (37470820) |
|  | 86010 | 1618387 | 556319 | 16784149 |
| **Y Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold |  |  | 311 | 9594 |
| Issued in reinvestment of distributions | 1837 | 43509 | 7116 | 170220 |
| Redeemed | (3856) | (98758) | (8847) | (213920) |
|  | (2019) | (55249) | (1420) | (34106) |
| **A Class/Shares Authorized** | 50000000 |  | 50000000 |  |
| Sold | 208350 | 5023412 | 348161 | 8355133 |
| Issued in reinvestment of distributions | 382422 | 8267973 | 879715 | 19520873 |
| Redeemed | (264848) | (6250033) | (544471) | (12462444) |
|  | 325924 | 7041352 | 683405 | 15413562 |
| **C Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 8219 | 147771 | 7162 | 142210 |
| Issued in reinvestment of distributions | 15078 | 238842 | 67869 | 1162591 |
| Redeemed | (29378) | (529424) | (109308) | (1873242) |
|  | (6081) | (142811) | (34277) | (568441) |
| **R Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 85436 | 1864448 | 172139 | 3852699 |
| Issued in reinvestment of distributions | 124215 | 2455731 | 276034 | 5680778 |
| Redeemed | (174467) | (3913578) | (206716) | (4927685) |
|  | 35184 | 406601 | 241457 | 4605792 |
| **R5 Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 9758 | 255911 | 5235 | 124775 |
| Issued in reinvestment of distributions | 6405 | 151031 | 16496 | 393269 |
| Redeemed | (21291) | (566944) | (11700) | (332152) |
|  | (5128) | (160002) | 10031 | 185892 |
| Net increase (decrease) | 1595355 | $34333502 | 3989611 | $94564663 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Equity Growth Fund** | | | | |
| **Investor Class/Shares Authorized** | 850000000 |  | 850000000 |  |
| Sold | 838754 | $31251944 | 1608768 | $52540839 |
| Issued in reinvestment of distributions | 4731531 | 167603078 | 305508 | 10132959 |
| Redeemed | (2814523) | (104082595) | (5722524) | (186423398) |
|  | 2755762 | 94772427 | (3808248) | (123749600) |
| **I Class/Shares Authorized** | 140000000 |  | 140000000 |  |
| Sold | 135459 | 5004810 | 195969 | 6391166 |
| Issued in reinvestment of distributions | 178746 | 6347676 | 18760 | 623561 |
| Redeemed | (593601) | (22348344) | (608306) | (19966703) |
|  | (279396) | (10995858) | (393577) | (12951976) |
| **A Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 99469 | 3726847 | 182060 | 5928998 |
| Issued in reinvestment of distributions | 135671 | 4791846 | 5899 | 194345 |
| Redeemed | (150137) | (5532441) | (639309) | (20980836) |
|  | 85003 | 2986252 | (451350) | (14857493) |
| **C Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 6673 | 243206 | 2339 | 75870 |
| Issued in reinvestment of distributions | 3515 | 119082 |  |  |
| Redeemed | (5521) | (195594) | (20530) | (641491) |
|  | 4667 | 166694 | (18191) | (565621) |
| **R Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 69204 | 2546060 | 163390 | 5274997 |
| Issued in reinvestment of distributions | 66303 | 2341609 | 1102 | 36111 |
| Redeemed | (110734) | (4163234) | (161592) | (5247577) |
|  | 24773 | 724435 | 2900 | 63531 |
| **R5 Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 7372 | 276527 | 11444 | 358782 |
| Issued in reinvestment of distributions | 8607 | 305700 | 872 | 28988 |
| Redeemed | (23209) | (880177) | (114329) | (3685845) |
|  | (7230) | (297950) | (102013) | (3298075) |
| Net increase (decrease) | 2583579 | $87356000 | (4770479) | $(155359234) |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Global Gold Fund** | | | | |
| **Investor Class/Shares Authorized** | 800000000 |  | 800000000 |  |
| Sold | 9609338 | $246848218 | 16189439 | $246426238 |
| Issued in reinvestment of distributions | 267607 | 8052279 | 721429 | 10728542 |
| Redeemed | (8809474) | (228623705) | (13915341) | (215346266) |
|  | 1067471 | 26276792 | 2995527 | 41808514 |
| **I Class/Shares Authorized** | 100000000 |  | 100000000 |  |
| Sold | 911409 | 23189077 | 2313819 | 35737604 |
| Issued in reinvestment of distributions | 24026 | 731826 | 69898 | 1063886 |
| Redeemed | (1480828) | (36516828) | (1979787) | (29526729) |
|  | (545393) | (12595925) | 403930 | 7274761 |
| **A Class/Shares Authorized** | 30000000 |  | 30000000 |  |
| Sold | 1058144 | 25668093 | 1252794 | 18844564 |
| Issued in reinvestment of distributions | 5591 | 164262 | 18666 | 264571 |
| Redeemed | (970035) | (23146700) | (1497954) | (22411920) |
|  | 93700 | 2685655 | (226494) | (3302785) |
| **C Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 24752 | 546577 | 30843 | 495876 |
| Issued in reinvestment of distributions | 27 | 755 | 1015 | 12407 |
| Redeemed | (11895) | (271444) | (45983) | (652455) |
|  | 12884 | 275888 | (14125) | (144172) |
| **R Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 147860 | 3663303 | 260748 | 3741801 |
| Issued in reinvestment of distributions | 1562 | 45332 | 5193 | 72810 |
| Redeemed | (127097) | (3198641) | (312073) | (4377349) |
|  | 22325 | 509994 | (46132) | (562738) |
| Net increase (decrease) | 650987 | $17152404 | 3112706 | $45073580 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Small Company Fund** | | | | |
| **Investor Class/Shares Authorized** | 400000000 |  | 400000000 |  |
| Sold | 120301 | $2102349 | 332516 | $5332140 |
| Issued in reinvestment of distributions | 177716 | 3189956 | 28033 | 451359 |
| Redeemed | (504648) | (8836491) | (1260379) | (20170559) |
|  | (206631) | (3544186) | (899830) | (14387060) |
| **I Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 81514 | 1448055 | 71777 | 1169680 |
| Issued in reinvestment of distributions | 10292 | 185967 | 2435 | 39551 |
| Redeemed | (100752) | (1776284) | (129256) | (2149781) |
|  | (8946) | (142262) | (55044) | (940550) |
| **A Class/Shares Authorized** | 30000000 |  | 30000000 |  |
| Sold | 19643 | 334668 | 43460 | 666809 |
| Issued in reinvestment of distributions | 9265 | 160469 | 374 | 5720 |
| Redeemed | (41354) | (694414) | (114580) | (1804742) |
|  | (12446) | (199277) | (70746) | (1132213) |
| **C Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 160 | 2400 | 344 | 4800 |
| Issued in reinvestment of distributions | 200 | 3109 |  |  |
| Redeemed | (185) | (2832) | (7115) | (96065) |
|  | 175 | 2677 | (6771) | (91265) |
| **R Class/Shares Authorized** | 20000000 |  | 20000000 |  |
| Sold | 18037 | 292794 | 48971 | 731152 |
| Issued in reinvestment of distributions | 3306 | 54807 |  |  |
| Redeemed | (24989) | (409630) | (71299) | (1043336) |
|  | (3646) | (62029) | (22328) | (312184) |
| **R5 Class/Shares Authorized** | 40000000 |  | 40000000 |  |
| Sold | 527 | 9182 | 2767 | 43716 |
| Issued in reinvestment of distributions | 352 | 6378 | 131 | 2129 |
| Redeemed | (11643) | (203277) | (1776) | (27008) |
|  | (10764) | (187717) | 1122 | 18837 |
| Net increase (decrease) | (242258) | $(4132794) | (1053597) | $(16844435) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Six months ended<br>December 31, 2025** | **Six months ended<br>December 31, 2025** | **Year ended<br>June 30, 2025** | **Year ended<br>June 30, 2025** |
| | **Shares** | **Amount** | **Shares** | **Amount** |
|<br>**Utilities Fund** | | | | |
| **Investor Class/Shares Authorized** | 300000000 |  | 300000000 |  |
| Sold | 711625 | $14205474 | 1691370 | $30626461 |
| Issued in reinvestment of distributions | 1401232 | 25910739 | 355739 | 6476038 |
| Redeemed | (1105722) | (21913318) | (2874114) | (52046249) |
| Net increase (decrease) | 1007135 | $18202895 | (827005) | $(14943750) |

---

**6. Risk Factors**

The overall risk profile of a fund will be impacted by the fund's investment strategy, including the investment vehicles and techniques utilized to manage a portfolio. The net asset value of a fund will go up and down, sometimes rapidly or unpredictably, based on the performance of the securities owned by the fund and other factors generally affecting the securities market. Market risks, including political, regulatory, economic and social developments, can affect the value of 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:

---

| | | | |
|:---|:---|:---|:---|
| | **Disciplined Core Value Fund** | **Disciplined Growth Fund** | **Equity Growth Fund** |
| Federal tax cost of investments | $1533753708 | $204576398 | $1126798065 |
| Gross tax appreciation of investments | $414961618 | $279899391 | $734041183 |
| Gross tax depreciation of investments | (36276027) | (3430748) | (14418651) |
| Net tax appreciation (depreciation) of investments | $378685591 | $276468643 | $719622532 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Global Gold Fund** | **Small Company Fund** | **Utilities Fund** |
| Federal tax cost of investments | $657212729 | $126339864 | $219077553 |
| Gross tax appreciation of investments | $1119208191 | $37159255 | $67416235 |
| Gross tax depreciation of investments | (3383102) | (4300997) | (1675887) |
| Net tax appreciation (depreciation) of investments | $1115825089 | $32858258 | $65740348 |

---

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 June 30, 2025, the funds had accumulated capital losses which represent net capital loss carryovers that may be used to offset future realized capital<br>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<br>given year may be subject to Internal Revenue Code limitations. Capital loss carryovers were as follows: | As of June 30, 2025, the funds had accumulated capital losses which represent net capital loss carryovers that may be used to offset future realized capital<br>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<br>given year may be subject to Internal Revenue Code limitations. Capital loss carryovers were as follows: |
|  | **Short-term capital losses** |
| Global Gold Fund | $(104324557) |
| Small Company Fund | $(6318734) |

---

**8. Corporate Event**

Effective March 10, 2026, Disciplined Core Value Fund will be renamed Disciplined Value Fund, and Equity Growth Fund will be renamed Disciplined Core Equity Fund.

------

Financial Highlights

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| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** |
| **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>**:** | | |
| | **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<br>of Period** | **Total**<br>**Return**<sup>(2)</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 thousands)** |
| **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $37.29 | 0.26 | 4.18 | 4.44 | (0.28) | (2.96) | (3.24) | $38.49 | 11.93% | 0.66% | 1.29% | 54% | $1625968 |
| 2025 | $34.89 | 0.49 | 2.43 | 2.92 | (0.52) |  | (0.52) | $37.29 | 8.41% | 0.65% | 1.35% | 85% | $1553358 |
| 2024 | $30.91 | 0.49 | 4.01 | 4.50 | (0.52) |  | (0.52) | $34.89 | 14.70% | 0.66% | 1.49% | 67% | $1591426 |
| 2023 | $30.12 | 0.57 | 0.76 | 1.33 | (0.54) |  | (0.54) | $30.91 | 4.45% | 0.66% | 1.86% | 179% | $1606519 |
| 2022 | $43.20 | 0.50 | (3.51) | (3.01) | (0.50) | (9.57) | (10.07) | $30.12 | (9.84)% | 0.65% | 1.31% | 234% | $1739617 |
| 2021 | $35.99 | 0.58 | 12.52 | 13.10 | (0.58) | (5.31) | (5.89) | $43.20 | 39.42% | 0.66% | 1.44% | 240% | $2076714 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $37.38 | 0.30 | 4.19 | 4.49 | (0.32) | (2.96) | (3.28) | $38.59 | 12.04% | 0.46% | 1.49% | 54% | $153845 |
| 2025 | $34.98 | 0.57 | 2.43 | 3.00 | (0.60) |  | (0.60) | $37.38 | 8.60% | 0.45% | 1.55% | 85% | $158451 |
| 2024 | $30.98 | 0.55 | 4.03 | 4.58 | (0.58) |  | (0.58) | $34.98 | 14.92% | 0.46% | 1.69% | 67% | $192481 |
| 2023 | $30.19 | 0.64 | 0.75 | 1.39 | (0.60) |  | (0.60) | $30.98 | 4.68% | 0.46% | 2.06% | 179% | $309724 |
| 2022 | $43.28 | 0.58 | (3.53) | (2.95) | (0.57) | (9.57) | (10.14) | $30.19 | (9.67)% | 0.45% | 1.51% | 234% | $466890 |
| 2021 | $36.05 | 0.65 | 12.55 | 13.20 | (0.66) | (5.31) | (5.97) | $43.28 | 39.70% | 0.46% | 1.64% | 240% | $584160 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $37.19 | 0.21 | 4.16 | 4.37 | (0.22) | (2.96) | (3.18) | $38.38 | 11.78% | 0.91% | 1.04% | 54% | $106389 |
| 2025 | $34.79 | 0.40 | 2.43 | 2.83 | (0.43) |  | (0.43) | $37.19 | 8.15% | 0.90% | 1.10% | 85% | $135913 |
| 2024 | $30.82 | 0.40 | 4.01 | 4.41 | (0.44) |  | (0.44) | $34.79 | 14.39% | 0.91% | 1.24% | 67% | $154015 |
| 2023 | $30.04 | 0.49 | 0.76 | 1.25 | (0.47) |  | (0.47) | $30.82 | 4.20% | 0.91% | 1.61% | 179% | $165051 |
| 2022 | $43.11 | 0.40 | (3.50) | (3.10) | (0.40) | (9.57) | (9.97) | $30.04 | (10.07)% | 0.90% | 1.06% | 234% | $171905 |
| 2021 | $35.93 | 0.48 | 12.49 | 12.97 | (0.48) | (5.31) | (5.79) | $43.11 | 39.04% | 0.91% | 1.19% | 240% | $180616 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $37.06 | 0.06 | 4.14 | 4.20 | (0.06) | (2.96) | (3.02) | $38.24 | 11.36% | 1.66% | 0.29% | 54% | $3389 |
| 2025 | $34.67 | 0.13 | 2.41 | 2.54 | (0.15) |  | (0.15) | $37.06 | 7.33% | 1.65% | 0.35% | 85% | $3682 |
| 2024 | $30.71 | 0.16 | 3.99 | 4.15 | (0.19) |  | (0.19) | $34.67 | 13.55% | 1.66% | 0.49% | 67% | $4427 |
| 2023 | $29.93 | 0.26 | 0.76 | 1.02 | (0.24) |  | (0.24) | $30.71 | 3.43% | 1.66% | 0.86% | 179% | $5892 |
| 2022 | $43.00 | 0.10 | (3.48) | (3.38) | (0.12) | (9.57) | (9.69) | $29.93 | (10.76)% | 1.65% | 0.31% | 234% | $8455 |
| 2021 | $35.84 | 0.17 | 12.48 | 12.65 | (0.18) | (5.31) | (5.49) | $43.00 | 38.05% | 1.66% | 0.44% | 240% | $12987 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** |
| **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>**:** | | |
| | **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<br>of Period** | **Total**<br>**Return**<sup>(2)</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 thousands)** |
| **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | **Disciplined Core Value Fund** | | | | | | | | | |
| **R Class** | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $37.26 | 0.16 | 4.18 | 4.34 | (0.17) | (2.96) | (3.13) | $38.47 | 11.67% | 1.16% | 0.79% | 54% | $10843 |
| 2025 | $34.86 | 0.31 | 2.43 | 2.74 | (0.34) |  | (0.34) | $37.26 | 7.86% | 1.15% | 0.85% | 85% | $10842 |
| 2024 | $30.88 | 0.32 | 4.01 | 4.33 | (0.35) |  | (0.35) | $34.86 | 14.11% | 1.16% | 0.99% | 67% | $12606 |
| 2023 | $30.10 | 0.41 | 0.76 | 1.17 | (0.39) |  | (0.39) | $30.88 | 3.93% | 1.16% | 1.36% | 179% | $15447 |
| 2022 | $43.18 | 0.31 | (3.51) | (3.20) | (0.31) | (9.57) | (9.88) | $30.10 | (10.30)% | 1.15% | 0.81% | 234% | $15265 |
| 2021 | $35.97 | 0.38 | 12.51 | 12.89 | (0.37) | (5.31) | (5.68) | $43.18 | 38.73% | 1.16% | 0.94% | 240% | $18245 |
| **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $37.40 | 0.30 | 4.19 | 4.49 | (0.32) | (2.96) | (3.28) | $38.61 | 12.04% | 0.46% | 1.49% | 54% | $11542 |
| 2025 | $34.99 | 0.57 | 2.44 | 3.01 | (0.60) |  | (0.60) | $37.40 | 8.63% | 0.45% | 1.55% | 85% | $29029 |
| 2024 | $31.00 | 0.56 | 4.01 | 4.57 | (0.58) |  | (0.58) | $34.99 | 14.91% | 0.46% | 1.69% | 67% | $34966 |
| 2023 | $30.21 | 0.63 | 0.76 | 1.39 | (0.60) |  | (0.60) | $31.00 | 4.64% | 0.46% | 2.06% | 179% | $50491 |
| 2022 | $43.29 | 0.58 | (3.52) | (2.94) | (0.57) | (9.57) | (10.14) | $30.21 | (9.64)% | 0.45% | 1.51% | 234% | $49707 |
| 2021 | $36.06 | 0.63 | 12.57 | 13.20 | (0.66) | (5.31) | (5.97) | $43.29 | 39.68% | 0.46% | 1.64% | 240% | $38493 |

---

**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 December 31, 2025 (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 June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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)**<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<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<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | | | | | | | | | | | |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $23.50 | (0.05) | 2.69 | 2.64 |  | (3.13) | (3.13) | $23.01 | 11.32% | 0.92% | 1.01% | (0.42)% | (0.51)% | 23% | $311412 |
| 2025 | $29.01 | (0.08) | 4.35 | 4.27 |  | (9.78) | (9.78) | $23.50 | 15.08% | 0.92% | 1.00% | (0.33)% | (0.41)% | 57% | $290740 |
| 2024 | $21.70 | (0.07) | 7.39 | 7.32 | (0.01) |  | (0.01) | $29.01 | 33.74% | 1.00% | 1.01% | (0.29)% | (0.30)% | 40% | $285301 |
| 2023 | $17.68 | 0.01 | 4.01 | 4.02 |  |  |  | $21.70 | 22.74% | 1.00% | 1.01% | 0.06% | 0.05% | 142% | $277357 |
| 2022 | $26.83 | (0.06) | (3.76) | (3.82) |  | (5.33) | (5.33) | $17.68 | (19.47)% | 0.99% | 1.00% | (0.14)% | (0.15)% | 205% | $248369 |
| 2021 | $24.39 | (0.07) | 7.17 | 7.10 |  | (4.66) | (4.66) | $26.83 | 31.26% | 1.00% | 1.01% | (0.28)% | (0.29)% | 189% | $273391 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $24.09 | (0.03) | 2.77 | 2.74 |  | (3.13) | (3.13) | $23.70 | 11.46% | 0.72% | 0.81% | (0.22)% | (0.31)% | 23% | $82049 |
| 2025 | $29.47 | (0.03) | 4.43 | 4.40 |  | (9.78) | (9.78) | $24.09 | 15.32% | 0.72% | 0.80% | (0.13)% | (0.21)% | 57% | $81350 |
| 2024 | $22.00 | (0.03) | 7.51 | 7.48 | (0.01) |  | (0.01) | $29.47 | 34.03% | 0.80% | 0.81% | (0.09)% | (0.10)% | 40% | $83098 |
| 2023 | $17.92 | 0.05 | 4.06 | 4.11 | (0.03) |  | (0.03) | $22.00 | 22.96% | 0.80% | 0.81% | 0.26% | 0.25% | 142% | $66363 |
| 2022 | $27.08 | (0.02) | (3.81) | (3.83) |  | (5.33) | (5.33) | $17.92 | (19.31)% | 0.79% | 0.80% | 0.06% | 0.05% | 205% | $97606 |
| 2021 | $24.54 | (0.02) | 7.22 | 7.20 |  | (4.66) | (4.66) | $27.08 | 31.50% | 0.80% | 0.81% | (0.08)% | (0.09)% | 189% | $149388 |
| **Y Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $24.22 | (0.02) | 2.77 | 2.75 |  | (3.13) | (3.13) | $23.84 | 11.44% | 0.67% | 0.76% | (0.17)% | (0.26)% | 23% | $347 |
| 2025 | $29.56 | (0.02) | 4.46 | 4.44 |  | (9.78) | (9.78) | $24.22 | 15.44% | 0.67% | 0.75% | (0.08)% | (0.16)% | 57% | $401 |
| 2024 | $22.06 | (0.01) | 7.53 | 7.52 | (0.02) |  | (0.02) | $29.56 | 34.08% | 0.75% | 0.76% | (0.04)% | (0.05)% | 40% | $532 |
| 2023 | $17.97 | 0.02 | 4.11 | 4.13 | (0.04) |  | (0.04) | $22.06 | 23.02% | 0.75% | 0.76% | 0.31% | 0.30% | 142% | $516 |
| 2022 | $27.13 | (0.01) | (3.82) | (3.83) |  | (5.33) | (5.33) | $17.97 | (19.27)% | 0.74% | 0.75% | 0.11% | 0.10% | 205% | $95 |
| 2021 | $24.56 | (0.01) | 7.24 | 7.23 |  | (4.66) | (4.66) | $27.13 | 31.61% | 0.75% | 0.76% | (0.03)% | (0.04)% | 189% | $159 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $22.40 | (0.08) | 2.57 | 2.49 |  | (3.13) | (3.13) | $21.76 | 11.21% | 1.17% | 1.26% | (0.67)% | (0.76)% | 23% | $66248 |
| 2025 | $28.11 | (0.14) | 4.21 | 4.07 |  | (9.78) | (9.78) | $22.40 | 14.81% | 1.17% | 1.25% | (0.58)% | (0.66)% | 57% | $60912 |
| 2024 | $21.08 | (0.13) | 7.16 | 7.03 | —<sup>(4)</sup> |  | —<sup>(4)</sup> | $28.11 | 33.44% | 1.25% | 1.26% | (0.54)% | (0.55)% | 40% | $57212 |
| 2023 | $17.22 | (0.04) | 3.90 | 3.86 |  |  |  | $21.08 | 22.43% | 1.25% | 1.26% | (0.19)% | (0.20)% | 142% | $42947 |
| 2022 | $26.31 | (0.12) | (3.64) | (3.76) |  | (5.33) | (5.33) | $17.22 | (19.69)% | 1.24% | 1.25% | (0.39)% | (0.40)% | 205% | $36573 |
| 2021 | $24.05 | (0.13) | 7.05 | 6.92 |  | (4.66) | (4.66) | $26.31 | 30.93% | 1.25% | 1.26% | (0.53)% | (0.54)% | 189% | $47150 |

---

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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)**<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<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<br>(Loss)<br>(before<br>expense<br>waiver)** | **Portfolio<br>Turnover<br>Rate** | **Net<br>Assets,<br>End of<br>Period<br>(in thousands)** |
| **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | **Disciplined Growth Fund** | | | | | | | | | | | |
| **C Class** | | | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $17.23 | (0.13) | 1.96 | 1.83 |  | (3.13) | (3.13) | $15.93 | 10.73% | 1.92% | 2.01% | (1.42)% | (1.51)% | 23% | $1426 |
| 2025 | $23.75 | (0.27) | 3.53 | 3.26 |  | (9.78) | (9.78) | $17.23 | 13.97% | 1.92% | 2.00% | (1.33)% | (1.41)% | 57% | $1647 |
| 2024 | $17.94 | (0.26) | 6.07 | 5.81 |  |  |  | $23.75 | 32.46% | 2.00% | 2.01% | (1.29)% | (1.30)% | 40% | $3084 |
| 2023 | $14.76 | (0.14) | 3.32 | 3.18 |  |  |  | $17.94 | 21.48% | 2.00% | 2.01% | (0.94)% | (0.95)% | 142% | $3737 |
| 2022 | $23.41 | (0.27) | (3.05) | (3.32) |  | (5.33) | (5.33) | $14.76 | (20.27)% | 1.99% | 2.00% | (1.14)% | (1.15)% | 205% | $7820 |
| 2021 | $21.99 | (0.29) | 6.37 | 6.08 |  | (4.66) | (4.66) | $23.41 | 29.92% | 2.00% | 2.01% | (1.28)% | (1.29)% | 189% | $16775 |
| **R Class** | **R Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $20.75 | (0.10) | 2.37 | 2.27 |  | (3.13) | (3.13) | $19.89 | 11.03% | 1.42% | 1.51% | (0.92)% | (1.01)% | 23% | $17870 |
| 2025 | $26.73 | (0.19) | 3.99 | 3.80 |  | (9.78) | (9.78) | $20.75 | 14.52% | 1.42% | 1.50% | (0.83)% | (0.91)% | 57% | $17911 |
| 2024 | $20.09 | (0.18) | 6.82 | 6.64 |  |  |  | $26.73 | 33.12% | 1.50% | 1.51% | (0.79)% | (0.80)% | 40% | $16612 |
| 2023 | $16.45 | (0.08) | 3.72 | 3.64 |  |  |  | $20.09 | 22.14% | 1.50% | 1.51% | (0.44)% | (0.45)% | 142% | $13312 |
| 2022 | $25.42 | (0.17) | (3.47) | (3.64) |  | (5.33) | (5.33) | $16.45 | (19.93)% | 1.49% | 1.50% | (0.64)% | (0.65)% | 205% | $10481 |
| 2021 | $23.42 | (0.19) | 6.85 | 6.66 |  | (4.66) | (4.66) | $25.42 | 30.63% | 1.50% | 1.51% | (0.78)% | (0.79)% | 189% | $12958 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $24.12 | (0.03) | 2.77 | 2.74 |  | (3.13) | (3.13) | $23.73 | 11.44% | 0.72% | 0.81% | (0.22)% | (0.31)% | 23% | $1286 |
| 2025 | $29.49 | (0.03) | 4.44 | 4.41 |  | (9.78) | (9.78) | $24.12 | 15.35% | 0.72% | 0.80% | (0.13)% | (0.21)% | 57% | $1431 |
| 2024 | $22.02 | (0.03) | 7.51 | 7.48 | (0.01) |  | (0.01) | $29.49 | 34.00% | 0.80% | 0.81% | (0.09)% | (0.10)% | 40% | $1453 |
| 2023 | $17.94 | 0.07 | 4.04 | 4.11 | (0.03) |  | (0.03) | $22.02 | 23.01% | 0.80% | 0.81% | 0.26% | 0.25% | 142% | $510 |
| 2022 | $27.10 | (0.01) | (3.82) | (3.83) |  | (5.33) | (5.33) | $17.94 | (19.34)% | 0.79% | 0.80% | 0.06% | 0.05% | 205% | $1390 |
| 2021 | $24.55 | (0.02) | 7.23 | 7.21 |  | (4.66) | (4.66) | $27.10 | 31.53% | 0.80% | 0.81% | (0.08)% | (0.09)% | 189% | $1528 |

---

**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 December 31, 2025 (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 June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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>**:** | | |
| | **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<br>of Period** | **Total**<br>**Return**<sup>(2)</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)** |
| **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | | | | | | | | | |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $34.83 | 0.10 | 4.68 | 4.78 | (0.10) | (3.88) | (3.98) | $35.63 | 13.81% | 0.66% | 0.53% | 42% | $1704611 |
| 2025 | $31.19 | 0.22 | 3.64 | 3.86 | (0.22) |  | (0.22) | $34.83 | 12.43% | 0.65% | 0.67% | 73% | $1570393 |
| 2024 | $24.89 | 0.20 | 6.31 | 6.51 | (0.21) |  | (0.21) | $31.19 | 26.26% | 0.66% | 0.74% | 53% | $1524738 |
| 2023 | $24.15 | 0.36 | 2.47 | 2.83 | (0.37) | (1.72) | (2.09) | $24.89 | 12.34% | 0.66% | 1.60% | 169% | $1366594 |
| 2022 | $36.56 | 0.24 | (3.83) | (3.59) | (0.22) | (8.60) | (8.82) | $24.15 | (14.48)% | 0.65% | 0.80% | 238% | $1556896 |
| 2021 | $30.41 | 0.29 | 9.82 | 10.11 | (0.29) | (3.67) | (3.96) | $36.56 | 35.42% | 0.66% | 0.84% | 186% | $1998353 |
| **I Class** | **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $34.89 | 0.14 | 4.69 | 4.83 | (0.14) | (3.88) | (4.02) | $35.70 | 13.93% | 0.46% | 0.73% | 42% | $61756 |
| 2025 | $31.24 | 0.28 | 3.66 | 3.94 | (0.29) |  | (0.29) | $34.89 | 12.67% | 0.45% | 0.87% | 73% | $70110 |
| 2024 | $24.94 | 0.25 | 6.32 | 6.57 | (0.27) |  | (0.27) | $31.24 | 26.46% | 0.46% | 0.94% | 53% | $75066 |
| 2023 | $24.19 | 0.39 | 2.50 | 2.89 | (0.42) | (1.72) | (2.14) | $24.94 | 12.59% | 0.46% | 1.80% | 169% | $306157 |
| 2022 | $36.61 | 0.30 | (3.84) | (3.54) | (0.28) | (8.60) | (8.88) | $24.19 | (14.32)% | 0.45% | 1.00% | 238% | $372948 |
| 2021 | $30.45 | 0.34 | 9.85 | 10.19 | (0.36) | (3.67) | (4.03) | $36.61 | 35.68% | 0.46% | 1.04% | 186% | $548632 |
| **A Class** | **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $34.75 | 0.05 | 4.67 | 4.72 | (0.05) | (3.88) | (3.93) | $35.54 | 13.66% | 0.91% | 0.28% | 42% | $51050 |
| 2025 | $31.11 | 0.14 | 3.64 | 3.78 | (0.14) |  | (0.14) | $34.75 | 12.18% | 0.90% | 0.42% | 73% | $46962 |
| 2024 | $24.83 | 0.13 | 6.29 | 6.42 | (0.14) |  | (0.14) | $31.11 | 25.93% | 0.91% | 0.49% | 53% | $56084 |
| 2023 | $24.10 | 0.29 | 2.47 | 2.76 | (0.31) | (1.72) | (2.03) | $24.83 | 12.09% | 0.91% | 1.35% | 169% | $49323 |
| 2022 | $36.50 | 0.15 | (3.81) | (3.66) | (0.14) | (8.60) | (8.74) | $24.10 | (14.73)% | 0.90% | 0.55% | 238% | $51847 |
| 2021 | $30.36 | 0.20 | 9.81 | 10.01 | (0.20) | (3.67) | (3.87) | $36.50 | 35.10% | 0.91% | 0.59% | 186% | $75252 |
| **C Class** | **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $33.56 | (0.08) | 4.50 | 4.42 |  | (3.88) | (3.88) | $34.10 | 13.21% | 1.66% | (0.47)% | 42% | $1171 |
| 2025 | $30.14 | (0.11) | 3.53 | 3.42 |  |  |  | $33.56 | 11.35% | 1.65% | (0.33)% | 73% | $996 |
| 2024 | $24.12 | (0.07) | 6.09 | 6.02 | —<sup>(4)</sup> |  | —<sup>(4)</sup> | $30.14 | 24.96% | 1.66% | (0.26)% | 53% | $1443 |
| 2023 | $23.48 | 0.12 | 2.39 | 2.51 | (0.15) | (1.72) | (1.87) | $24.12 | 11.23% | 1.66% | 0.60% | 169% | $2041 |
| 2022 | $35.92 | (0.09) | (3.71) | (3.80) | (0.04) | (8.60) | (8.64) | $23.48 | (15.34)% | 1.65% | (0.20)% | 238% | $3397 |
| 2021 | $29.98 | (0.05) | 9.66 | 9.61 | —<sup>(4)</sup> | (3.67) | (3.67) | $35.92 | 34.07% | 1.66% | (0.16)% | 186% | $4950 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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>**:** | | |
| | **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<br>of Period** | **Total**<br>**Return**<sup>(2)</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)** |
| **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | **Equity Growth Fund** | | | | | | | | | |
| **R Class** | **R Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $34.76 | 0.01 | 4.66 | 4.67 | (0.01) | (3.88) | (3.89) | $35.54 | 13.51% | 1.16% | 0.03% | 42% | $23827 |
| 2025 | $31.12 | 0.06 | 3.64 | 3.70 | (0.06) |  | (0.06) | $34.76 | 11.89% | 1.15% | 0.17% | 73% | $22441 |
| 2024 | $24.84 | 0.06 | 6.29 | 6.35 | (0.07) |  | (0.07) | $31.12 | 25.61% | 1.16% | 0.24% | 53% | $20000 |
| 2023 | $24.10 | 0.23 | 2.48 | 2.71 | (0.25) | (1.72) | (1.97) | $24.84 | 11.80% | 1.16% | 1.10% | 169% | $18677 |
| 2022 | $36.53 | 0.07 | (3.82) | (3.75) | (0.08) | (8.60) | (8.68) | $24.10 | (14.92)% | 1.15% | 0.30% | 238% | $19602 |
| 2021 | $30.38 | 0.12 | 9.81 | 9.93 | (0.11) | (3.67) | (3.78) | $36.53 | 34.77% | 1.16% | 0.34% | 186% | $24891 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $34.90 | 0.14 | 4.69 | 4.83 | (0.14) | (3.88) | (4.02) | $35.71 | 13.93% | 0.46% | 0.73% | 42% | $3072 |
| 2025 | $31.25 | 0.28 | 3.66 | 3.94 | (0.29) |  | (0.29) | $34.90 | 12.66% | 0.45% | 0.87% | 73% | $3255 |
| 2024 | $24.95 | 0.26 | 6.31 | 6.57 | (0.27) |  | (0.27) | $31.25 | 26.50% | 0.46% | 0.94% | 53% | $6103 |
| 2023 | $24.20 | 0.40 | 2.49 | 2.89 | (0.42) | (1.72) | (2.14) | $24.95 | 12.59% | 0.46% | 1.80% | 169% | $4745 |
| 2022 | $36.62 | 0.30 | (3.84) | (3.54) | (0.28) | (8.60) | (8.88) | $24.20 | (14.34)% | 0.45% | 1.00% | 238% | $4553 |
| 2021 | $30.45 | 0.34 | 9.86 | 10.20 | (0.36) | (3.67) | (4.03) | $36.62 | 35.72% | 0.46% | 1.04% | 186% | $6096 |

---

**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 December 31, 2025 (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 June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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\*:** | | | | **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 Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Distributions From Net Investment Income** | **Net Asset<br>Value,<br>End of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Net<br>Investment<br>Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period<br>(in thousands)** |
| **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | | | | | | | |
| **Investor Class** | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $18.81 | 0.10 | 12.22 | 12.32 | (0.16) | $30.97 | 65.53% | 0.66% | 0.79% | 31% | $1580832 |
| 2025 | $11.90 | 0.14 | 7.00 | 7.14 | (0.23) | $18.81 | 60.50% | 0.66% | 0.91% | 20% | $940250 |
| 2024 | $10.22 | 0.14 | 1.69 | 1.83 | (0.15) | $11.90 | 18.07% | 0.66% | 1.34% | 54% | $559328 |
| 2023 | $9.78 | 0.15 | 0.43 | 0.58 | (0.14) | $10.22 | 5.94% | 0.66% | 1.51% | 59% | $496571 |
| 2022 | $12.37 | 0.17 | (2.54) | (2.37) | (0.22) | $9.78 | (19.33)% | 0.65% | 1.46% | 57% | $461236 |
| 2021 | $13.64 | 0.13 | (1.26) | (1.13) | (0.14) | $12.37 | (8.30)% | 0.66% | 0.96% | 105% | $590853 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $19.05 | 0.12 | 12.37 | 12.49 | (0.19) | $31.35 | 65.62% | 0.46% | 0.99% | 31% | $118427 |
| 2025 | $12.05 | 0.17 | 7.09 | 7.26 | (0.26) | $19.05 | 60.82% | 0.46% | 1.11% | 20% | $82330 |
| 2024 | $10.34 | 0.16 | 1.73 | 1.89 | (0.18) | $12.05 | 18.38% | 0.46% | 1.54% | 54% | $47223 |
| 2023 | $9.89 | 0.17 | 0.44 | 0.61 | (0.16) | $10.34 | 6.18% | 0.46% | 1.71% | 59% | $45797 |
| 2022 | $12.51 | 0.20 | (2.57) | (2.37) | (0.25) | $9.89 | (19.20)% | 0.45% | 1.66% | 57% | $40601 |
| 2021 | $13.79 | 0.16 | (1.27) | (1.11) | (0.17) | $12.51 | (8.10)% | 0.46% | 1.16% | 105% | $68014 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $18.37 | 0.07 | 11.91 | 11.98 | (0.12) | $30.23 | 65.25% | 0.91% | 0.54% | 31% | $42495 |
| 2025 | $11.63 | 0.09 | 6.84 | 6.93 | (0.19) | $18.37 | 60.02% | 0.91% | 0.66% | 20% | $24096 |
| 2024 | $9.99 | 0.11 | 1.66 | 1.77 | (0.13) | $11.63 | 17.79% | 0.91% | 1.09% | 54% | $17885 |
| 2023 | $9.55 | 0.12 | 0.44 | 0.56 | (0.12) | $9.99 | 5.81% | 0.91% | 1.26% | 59% | $15750 |
| 2022 | $12.09 | 0.14 | (2.48) | (2.34) | (0.20) | $9.55 | (19.57)% | 0.90% | 1.21% | 57% | $17423 |
| 2021 | $13.33 | 0.10 | (1.23) | (1.13) | (0.11) | $12.09 | (8.51)% | 0.91% | 0.71% | 105% | $22022 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $17.36 | (0.02) | 11.24 | 11.22 | —<sup>(4)</sup> | $28.58 | 64.65% | 1.66% | (0.21)% | 31% | $5881 |
| 2025 | $10.99 | (0.01) | 6.45 | 6.44 | (0.07) | $17.36 | 58.81% | 1.66% | (0.09)% | 20% | $3349 |
| 2024 | $9.45 | 0.03 | 1.57 | 1.60 | (0.06) | $10.99 | 16.99% | 1.66% | 0.34% | 54% | $2274 |
| 2023 | $9.05 | 0.05 | 0.39 | 0.44 | (0.04) | $9.45 | 4.84% | 1.66% | 0.51% | 59% | $2284 |
| 2022 | $11.46 | 0.05 | (2.34) | (2.29) | (0.12) | $9.05 | (20.13)% | 1.65% | 0.46% | 57% | $2875 |
| 2021 | $12.63 | (0.01) | (1.15) | (1.16) | (0.01) | $11.46 | (9.18)% | 1.66% | (0.04)% | 105% | $3838 |

---

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (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\*:** | | | | **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 Income**<br>**(Loss)**<sup>(1)</sup> | **Net<br>Realized<br>and<br>Unrealized<br>Gain (Loss)** | **Total From Investment Operations** | **Distributions From Net Investment Income** | **Net Asset<br>Value,<br>End of Period** | **Total**<br>**Return**<sup>(2)</sup> | **Operating<br>Expenses** | **Net<br>Investment<br>Income<br>(Loss)** | **Portfolio<br>Turnover<br>Rate** | **Net Assets,<br>End of Period<br>(in thousands)** |
| **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | **Global Gold Fund** | | | | | | | |
| **R Class** | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $18.14 | 0.04 | 11.75 | 11.79 | (0.08) | $29.85 | 65.02% | 1.16% | 0.29% | 31% | $16382 |
| 2025 | $11.48 | 0.06 | 6.75 | 6.81 | (0.15) | $18.14 | 59.68% | 1.16% | 0.41% | 20% | $9548 |
| 2024 | $9.86 | 0.09 | 1.63 | 1.72 | (0.10) | $11.48 | 17.52% | 1.16% | 0.84% | 54% | $6573 |
| 2023 | $9.44 | 0.10 | 0.41 | 0.51 | (0.09) | $9.86 | 5.39% | 1.16% | 1.01% | 59% | $6508 |
| 2022 | $11.94 | 0.11 | (2.44) | (2.33) | (0.17) | $9.44 | (19.69)% | 1.15% | 0.96% | 57% | $7904 |
| 2021 | $13.17 | 0.06 | (1.22) | (1.16) | (0.07) | $11.94 | (8.79)% | 1.16% | 0.46% | 105% | $8868 |

---

**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 December 31, 2025 (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 June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** |
| **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>**:** | | |
| | **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**<br>**of Period** | **Total**<br>**Return**<sup>(2)</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 thousands)** |
| **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | | | | | | | | | |
| **Investor Class** | **Investor Class** | **Investor Class** | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $16.08 | 0.02 | 2.10 | 2.12 | (0.02) | (0.41) | (0.43) | $17.77 | 13.15% | 0.86% | 0.22% | 45% | $139609 |
| 2025 | $15.40 | 0.05 | 0.68 | 0.73 | (0.05) |  | (0.05) | $16.08 | 4.77% | 0.85% | 0.33% | 82% | $129670 |
| 2024 | $13.93 | 0.06 | 1.47 | 1.53 | (0.06) |  | (0.06) | $15.40 | 10.99% | 0.86% | 0.42% | 67% | $137973 |
| 2023 | $12.41 | 0.07 | 1.51 | 1.58 | (0.06) |  | (0.06) | $13.93 | 12.72% | 0.86% | 0.50% | 119% | $137735 |
| 2022 | $19.38 | 0.06 | (3.92) | (3.86) | (0.05) | (3.06) | (3.11) | $12.41 | (23.44)% | 0.85% | 0.35% | 205% | $134507 |
| 2021 | $12.10 | 0.02 | 7.29 | 7.31 | (0.03) |  | (0.03) | $19.38 | 60.46% | 0.86% | 0.13% | 142% | $196473 |
| **I Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $16.19 | 0.04 | 2.12 | 2.16 | (0.04) | (0.41) | (0.45) | $17.90 | 13.31% | 0.66% | 0.42% | 45% | $7310 |
| 2025 | $15.50 | 0.08 | 0.70 | 0.78 | (0.09) |  | (0.09) | $16.19 | 5.02% | 0.65% | 0.53% | 82% | $6760 |
| 2024 | $14.03 | 0.09 | 1.47 | 1.56 | (0.09) |  | (0.09) | $15.50 | 11.12% | 0.66% | 0.62% | 67% | $7324 |
| 2023 | $12.50 | 0.09 | 1.52 | 1.61 | (0.08) |  | (0.08) | $14.03 | 12.93% | 0.66% | 0.70% | 119% | $6387 |
| 2022 | $19.49 | 0.09 | (3.94) | (3.85) | (0.08) | (3.06) | (3.14) | $12.50 | (23.27)% | 0.65% | 0.55% | 205% | $6007 |
| 2021 | $12.16 | 0.05 | 7.33 | 7.38 | (0.05) |  | (0.05) | $19.49 | 60.82% | 0.66% | 0.33% | 142% | $9315 |
| **A Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $15.54 | —<sup>(4)</sup> | 2.02 | 2.02 |  | (0.41) | (0.41) | $17.15 | 12.97% | 1.11% | (0.03)% | 45% | $6766 |
| 2025 | $14.87 | 0.01 | 0.67 | 0.68 | (0.01) |  | (0.01) | $15.54 | 4.60% | 1.10% | 0.08% | 82% | $6323 |
| 2024 | $13.46 | 0.03 | 1.41 | 1.44 | (0.03) |  | (0.03) | $14.87 | 10.68% | 1.11% | 0.17% | 67% | $7105 |
| 2023 | $12.00 | 0.03 | 1.45 | 1.48 | (0.02) |  | (0.02) | $13.46 | 12.37% | 1.11% | 0.25% | 119% | $8017 |
| 2022 | $18.83 | 0.02 | (3.78) | (3.76) | (0.01) | (3.06) | (3.07) | $12.00 | (23.61)% | 1.10% | 0.10% | 205% | $8693 |
| 2021 | $11.77 | (0.02) | 7.09 | 7.07 | (0.01) |  | (0.01) | $18.83 | 60.14% | 1.11% | (0.12)% | 142% | $13031 |
| **C Class** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $14.02 | (0.06) | 1.82 | 1.76 |  | (0.41) | (0.41) | $15.37 | 12.52% | 1.86% | (0.78)% | 45% | $120 |
| 2025 | $13.50 | (0.10) | 0.62 | 0.52 |  |  |  | $14.02 | 3.85% | 1.85% | (0.67)% | 82% | $107 |
| 2024 | $12.29 | (0.08) | 1.29 | 1.21 |  |  |  | $13.50 | 9.85% | 1.86% | (0.58)% | 67% | $194 |
| 2023 | $11.02 | (0.06) | 1.33 | 1.27 |  |  |  | $12.29 | 11.52% | 1.86% | (0.50)% | 119% | $373 |
| 2022 | $17.66 | (0.11) | (3.47) | (3.58) |  | (3.06) | (3.06) | $11.02 | (24.14)% | 1.85% | (0.65)% | 205% | $426 |
| 2021 | $11.11 | (0.13) | 6.68 | 6.55 |  |  |  | $17.66 | 58.87% | 1.86% | (0.87)% | 142% | $939 |

---

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** |
| **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>**:** | | |
| | **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**<br>**of Period** | **Total**<br>**Return**<sup>(2)</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 thousands)** |
| **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | **Small Company Fund** | | | | | | | | | |
| **R Class** | | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $14.91 | (0.02) | 1.94 | 1.92 |  | (0.41) | (0.41) | $16.42 | 12.85% | 1.36% | (0.28)% | 45% | $2257 |
| 2025 | $14.29 | (0.03) | 0.65 | 0.62 |  |  |  | $14.91 | 4.34% | 1.35% | (0.17)% | 82% | $2104 |
| 2024 | $12.95 | (0.01) | 1.35 | 1.34 | —<sup>(4)</sup> |  | —<sup>(4)</sup> | $14.29 | 10.36% | 1.36% | (0.08)% | 67% | $2336 |
| 2023 | $11.56 | —<sup>(4)</sup> | 1.40 | 1.40 | (0.01) |  | (0.01) | $12.95 | 12.14% | 1.36% | 0.00% | 119% | $2416 |
| 2022 | $18.29 | (0.02) | (3.65) | (3.67) |  | (3.06) | (3.06) | $11.56 | (23.81)% | 1.35% | (0.15)% | 205% | $2306 |
| 2021 | $11.45 | (0.05) | 6.89 | 6.84 |  |  |  | $18.29 | 59.74% | 1.36% | (0.37)% | 142% | $3497 |
| **R5 Class** | **R5 Class** |  |  |  |  |  |  |  |  |  |  |  |  |
| 2025<sup>(3)</sup> | $16.21 | 0.04 | 2.12 | 2.16 | (0.04) | (0.41) | (0.45) | $17.92 | 13.29% | 0.66% | 0.42% | 45% | $252 |
| 2025 | $15.52 | 0.09 | 0.69 | 0.78 | (0.09) |  | (0.09) | $16.21 | 5.01% | 0.65% | 0.53% | 82% | $403 |
| 2024 | $14.04 | 0.09 | 1.48 | 1.57 | (0.09) |  | (0.09) | $15.52 | 11.19% | 0.66% | 0.62% | 67% | $368 |
| 2023 | $12.51 | 0.09 | 1.52 | 1.61 | (0.08) |  | (0.08) | $14.04 | 12.92% | 0.66% | 0.70% | 119% | $425 |
| 2022 | $19.51 | 0.09 | (3.95) | (3.86) | (0.08) | (3.06) | (3.14) | $12.51 | (23.26)% | 0.65% | 0.55% | 205% | $285 |
| 2021 | $12.17 | 0.05 | 7.34 | 7.39 | (0.05) |  | (0.05) | $19.51 | 60.77% | 0.66% | 0.33% | 142% | $404 |

---

**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 December 31, 2025 (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 June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | **For a Share Outstanding Throughout the Years Ended June 30 (except as noted)** | | | |
| **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)**<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**<br>**of Period** | **Total**<br>**Return**<sup>(2)</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 thousands)** |
| **Utilities Fund** | **Utilities Fund** | **Utilities Fund** | **Utilities Fund** | **Utilities Fund** | | | | | | | | | |
| **Investor Class** | **Investor Class** | | | | | | | | | | | | |
| 2025<sup>(3)</sup> | $19.14 | 0.25 | 0.91 | 1.16 | (0.25) | (1.65) | (1.90) | $18.40 | 6.07% | 0.66% | 2.48% | 31% | $284987 |
| 2025 | $15.83 | 0.46 | 3.32 | 3.78 | (0.47) |  | (0.47) | $19.14 | 24.04% | 0.65% | 2.53% | 77% | $277191 |
| 2024 | $14.88 | 0.42 | 0.96 | 1.38 | (0.43) |  | (0.43) | $15.83 | 9.52% | 0.66% | 2.84% | 70% | $242389 |
| 2023 | $16.73 | 0.38 | (1.08) | (0.70) | (0.34) | (0.81) | (1.15) | $14.88 | (4.65)% | 0.66% | 2.32% | 113% | $264878 |
| 2022 | $17.17 | 0.33 | 0.56 | 0.89 | (0.31) | (1.02) | (1.33) | $16.73 | 4.98% | 0.65% | 1.86% | 140% | $309887 |
| 2021 | $15.91 | 0.41 | 2.08 | 2.49 | (0.39) | (0.84) | (1.23) | $17.17 | 15.95% | 0.66% | 2.34% | 108% | $314100 |

---

**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)Six months ended December 31, 2025 (unaudited).

\*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations 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,<br>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-91456 2602** | **©2026 American Century Proprietary Holdings, Inc. All rights reserved.<br>CL-SAN-91456 2602** |

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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.**

None. <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](acqefex-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](acqefex-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.

---

| | | |
|:---|:---|:---|
| Registrant: | American Century Quantitative Equity Funds, Inc. | American Century Quantitative Equity Funds, Inc. |
| By: | /s/ Patrick Bannigan | /s/ Patrick Bannigan |
|  | Name: | Patrick Bannigan |
|  | Title: | President |
| Date: | February 26, 2026 | February 26, 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: | February 26, 2026 | February 26, 2026 |

---

---

| | | |
|:---|:---|:---|
| By: | /s/ R. Wes Campbell | /s/ R. Wes Campbell |
|  | Name: | R. Wes Campbell |
|  | Title: | Treasurer and |
|  |  | Chief Financial Officer |
|  |  | (principal financial officer) |
| Date: | February 26, 2026 | February 26, 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 Quantitative Equity Funds, 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.

---

| | |
|:---|:---|
| Date: | February 26, 2026 |
| /s/ Patrick Bannigan | /s/ Patrick Bannigan |
| Patrick Bannigan | Patrick Bannigan |
| President | President |
| (principal executive officer) | (principal executive officer) |

---

------

I, R. Wes Campbell, certify that:

1. I have reviewed this report on Form N-CSR of American Century Quantitative Equity Funds, 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.

---

| | |
|:---|:---|
| Date: | February 26, 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) |

---

## Exhibit 99.906

EX-99.906CERT

**CERTIFICATION** 

**<u>PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</u>**

In connection with the shareholder report of American Century Quantitative Equity Funds, Inc. (the "Registrant") on Form N-CSR for the period ending December 31, 2025 (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.

---

| | | | |
|:---|:---|:---|:---|
| Date: | February 26, 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>