Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (n-q)

Name	Symbol	Market	Type
American Century One Choice 2015 Portfolio - C Class (MM)	NASDAQ:AFNCX	NASDAQ	Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number		811-21591



AMERICAN CENTURY ASSET ALLOCATION PORTFOLIOS, INC.
(Exact name of registrant as specified in charter)


4500 MAIN STREET, KANSAS CITY, MISSOURI				64111
(Address of principal executive offices)				(Zip Code)


CHARLES A. ETHERINGTON, 4500 MAIN STREET KANSAS CITY, MISSOURI 64111
(Name and address of agent for service)


Registrant’s telephone number, including area code:			816-531-5575


Date of fiscal year end:	07-31


Date of reporting period:	10-31-2012

ITEM 1. SCHEDULE OF INVESTMENTS.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2015 Portfolio Fund

October 31, 2012

LIVESTRONG 2015 Portfolio - Schedule of Investments

OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.6%

DOMESTIC EQUITY FUNDS — 40.9%
NT Core Equity Plus Fund Institutional Class		2,489,625			28,531,100
NT Equity Growth Fund Institutional Class		8,749,748			92,659,834
NT Growth Fund Institutional Class		5,259,855			66,905,356
NT Large Company Value Fund Institutional Class		10,925,868			104,342,038
NT Mid Cap Value Fund Institutional Class		3,988,324			40,920,207
NT Small Company Fund Institutional Class		2,258,977			18,997,995
NT Vista Fund Institutional Class		2,692,332			28,565,647
Real Estate Fund Institutional Class		454,566			10,500,486

					391,422,663

DOMESTIC FIXED INCOME FUNDS — 37.4%
High-Yield Fund Institutional Class		5,772,422			35,904,466
Inflation-Adjusted Bond Fund Institutional Class		5,328,714			71,937,642
NT Diversified Bond Fund Institutional Class		22,241,459			249,326,750

					357,168,858

MONEY MARKET FUNDS — 8.8%
Premium Money Market Fund Investor Class		84,536,243			84,536,243

INTERNATIONAL FIXED INCOME FUNDS — 6.6%
International Bond Fund Institutional Class		4,284,513			63,025,192

INTERNATIONAL EQUITY FUNDS — 5.9%
NT Emerging Markets Fund Institutional Class		543,919			5,373,923
NT International Growth Fund Institutional Class		5,236,779			50,639,654

					56,013,577

TOTAL INVESTMENT SECURITIES — 99.6% (Cost $821,101,425)					952,166,533

OTHER ASSETS AND LIABILITIES — 0.4%					3,673,014

TOTAL NET ASSETS — 100.0%				$	955,839,547

Notes to Schedule of Investments

(1)

Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

The fund invests in a combination of underlying American Century Investments funds. The fund’s asset allocation is intended to diversify investments among stocks, bonds, and cash equivalents. The portfolio holdings of each underlying fund are available at americancentury.com or upon request at 1-800-345-2021.

2. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value per share as of 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. Investments in the underlying funds are valued at their reported net asset value.

3. Fair Value Measurements

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

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	842,929,675
Gross tax appreciation of investments	$	109,236,858
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	109,236,858

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

5. Affiliated Company Transactions

Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors. A summary of transactions for each underlying fund for the three months ended October 31, 2012 follows:

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		2,390,599		1,174,168		33,705		1,966			—		2,489,625		28,531,100
NT Equity Growth Fund Institutional Class		8,301,220		5,995,466		1,193,486		15,720			454,997		8,749,748		92,659,834
NT Growth Fund Institutional Class		4,959,081		4,738,668		781,402		55,497			—		5,259,855		66,905,356
NT Large Company Value Fund Institutional Class		10,584,839		4,758,169		1,496,767		18,008			528,251		10,925,868		104,342,038
NT Mid Cap Value Fund Institutional Class		3,890,798		1,473,413		487,687		(9,583	)		208,608		3,988,324		40,920,207
NT Small Company Fund Institutional Class		2,126,736		1,256,467		137,735		(3,376	)		69,939		2,258,977		18,997,995
NT Vista Fund Institutional Class		2,539,034		1,785,423		135,703		16,640			—		2,692,332		28,565,647
Real Estate Fund Institutional Class		420,775		783,330		—		—			20,147		454,566		10,500,486
High-Yield Fund Institutional Class		5,414,715		2,222,627		—		—			554,323		5,772,422		35,904,466
Inflation-Adjusted Bond Fund Institutional Class		4,956,388		5,513,105		538,342		402			—		5,328,714		71,937,642
NT Diversified Bond Fund Institutional Class		20,502,259		25,321,721		5,901,117		2,746			1,490,759		22,241,459		249,326,750
Premium Money Market Fund Investor Class		77,061,666		8,007,290		532,713		—			2,043		84,536,243		84,536,243
International Bond Fund Institutional Class		3,979,540		5,072,579		576,407		—			744,733		4,284,513		63,025,192
NT Emerging Markets Fund Institutional Class		601,196		33,386		546,427		38,662			—		543,919		5,373,923
NT International Growth Fund Institutional Class		5,231,088		1,793,475		1,713,763		23,269			—		5,236,779		50,639,654

			$	69,929,287	$	14,075,254	$	159,951		$	4,073,800			$	952,166,533


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investment Services, Inc. has entered into an agreement with the LIVE STRONG ® Foundation for rights to use the LIVE STRONG name. For more information about the foundation, visit LIVE STRONG .org.

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

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2020 Portfolio Fund

October 31, 2012

LIVESTRONG 2020 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.7%

DOMESTIC EQUITY FUNDS — 44.0%
NT Core Equity Plus Fund Institutional Class		1,717,542			19,683,031
NT Equity Growth Fund Institutional Class		5,870,895			62,172,779
NT Growth Fund Institutional Class		4,136,443			52,615,552
NT Large Company Value Fund Institutional Class		7,715,658			73,684,532
NT Mid Cap Value Fund Institutional Class		3,231,896			33,159,253
NT Small Company Fund Institutional Class		1,560,517			13,123,946
NT Vista Fund Institutional Class		2,476,545			26,276,139
Real Estate Fund Institutional Class		386,000			8,916,605

					289,631,837

DOMESTIC FIXED INCOME FUNDS — 35.8%
High-Yield Fund Institutional Class		3,787,306			23,557,045
Inflation-Adjusted Bond Fund Institutional Class		3,518,662			47,501,941
NT Diversified Bond Fund Institutional Class		14,676,686			164,525,651

					235,584,637

INTERNATIONAL EQUITY FUNDS — 8.0%
NT Emerging Markets Fund Institutional Class		1,162,867			11,489,129
NT International Growth Fund Institutional Class		4,272,091			41,311,123

					52,800,252

MONEY MARKET FUNDS — 6.3%
Premium Money Market Fund Investor Class		41,714,850			41,714,850

INTERNATIONAL FIXED INCOME FUNDS — 5.6%
International Bond Fund Institutional Class		2,481,986			36,510,014

TOTAL INVESTMENT SECURITIES — 99.7% (Cost $574,644,914)					656,241,590

OTHER ASSETS AND LIABILITIES — 0.3%					1,939,954

TOTAL NET ASSETS — 100.0%				$	658,181,544


Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	577,991,202
Gross tax appreciation of investments	$	78,250,388
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	78,250,388

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		1,527,327		2,777,417		578,920		(5,509	)		—		1,717,542		19,683,031
NT Equity Growth Fund Institutional Class		5,166,501		9,643,007		2,096,981		(21,669	)		288,118		5,870,895		62,172,779
NT Growth Fund Institutional Class		3,612,565		8,858,813		2,009,668		(10,823	)		—		4,136,443		52,615,552
NT Large Company Value Fund Institutional Class		6,915,890		10,240,373		2,590,915		(17,010	)		349,634		7,715,658		73,684,532
NT Mid Cap Value Fund Institutional Class		2,904,792		4,276,444		927,231		(12,347	)		158,217		3,231,896		33,159,253
NT Small Company Fund Institutional Class		1,358,447		2,055,158		339,249		(5,886	)		45,270		1,560,517		13,123,946
NT Vista Fund Institutional Class		2,161,742		4,201,839		820,588		(7,943	)		—		2,476,545		26,276,139
Real Estate Fund Institutional Class		328,371		1,553,346		202,823		(7,400	)		16,092		386,000		8,916,605
High-Yield Fund Institutional Class		3,304,070		3,770,446		770,725		(8,605	)		349,159		3,787,306		23,557,045
Inflation-Adjusted Bond Fund Institutional Class		3,033,421		8,384,206		1,893,570		885			—		3,518,662		47,501,941
NT Diversified Bond Fund Institutional Class		12,561,991		30,237,193		6,600,653		16,793			939,628		14,676,686		164,525,651
NT Emerging Markets Fund Institutional Class		1,067,325		1,337,196		444,894		(19,937	)		—		1,162,867		11,489,129
NT International Growth Fund Institutional Class		3,971,338		4,694,049		1,788,203		8,173			—		4,272,091		41,311,123
Premium Money Market Fund Investor Class		35,177,103		7,966,205		1,428,458		—			968		41,714,850		41,714,850
International Bond Fund Institutional Class		2,136,745		6,508,474		1,426,216		2,768			407,271		2,481,986		36,510,014

			$	106,504,166	$	23,919,094	$	(88,510	)	$	2,554,357			$	656,241,590


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2025 Portfolio Fund

October 31, 2012

LIVESTRONG 2025 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 47.6%
NT Core Equity Plus Fund Institutional Class		3,467,923			39,742,395
NT Equity Growth Fund Institutional Class		11,611,234			122,962,966
NT Growth Fund Institutional Class		9,926,571			126,265,977
NT Large Company Value Fund Institutional Class		16,038,112			153,163,968
NT Mid Cap Value Fund Institutional Class		7,130,772			73,161,721
NT Small Company Fund Institutional Class		4,199,746			35,319,862
NT Vista Fund Institutional Class		5,857,720			62,150,413
Real Estate Fund Institutional Class		925,757			21,384,998

					634,152,300

DOMESTIC FIXED INCOME FUNDS — 33.6%
High-Yield Fund Institutional Class		7,246,551			45,073,545
Inflation-Adjusted Bond Fund Institutional Class		6,642,949			89,679,811
NT Diversified Bond Fund Institutional Class		27,858,186			312,290,265

					447,043,621

INTERNATIONAL EQUITY FUNDS — 9.8%
NT Emerging Markets Fund Institutional Class		3,402,881			33,620,467
NT International Growth Fund Institutional Class		10,086,048			97,532,089

					131,152,556

MONEY MARKET FUNDS — 5.0%
Premium Money Market Fund Investor Class		66,435,829			66,435,829

INTERNATIONAL FIXED INCOME FUNDS — 3.9%
International Bond Fund Institutional Class		3,506,215			51,576,426

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $1,138,421,486)					1,330,360,732

OTHER ASSETS AND LIABILITIES — 0.1%					1,524,706

TOTAL NET ASSETS — 100.0%				$	1,331,885,438



Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	1,168,532,084
Gross tax appreciation of investments	$	161,828,648
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	161,828,648

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		3,250,717		2,506,004		—		—			—		3,467,923		39,742,395
NT Equity Growth Fund Institutional Class		10,766,551		9,418,736		393,806		(4,503	)		594,930		11,611,234		122,962,966
NT Growth Fund Institutional Class		9,110,642		11,585,698		952,575		21,038			—		9,926,571		126,265,977
NT Large Company Value Fund Institutional Class		15,112,679		9,604,002		839,580		(36,987	)		762,273		16,038,112		153,163,968
NT Mid Cap Value Fund Institutional Class		6,643,037		4,976,638		—		—			363,858		7,130,772		73,161,721
NT Small Company Fund Institutional Class		3,947,074		2,927,861		794,029		8,063			130,101		4,199,746		35,319,862
NT Vista Fund Institutional Class		5,408,310		4,979,323		175,549		9,565			—		5,857,720		62,150,413
Real Estate Fund Institutional Class		825,369		2,347,038		—		—			40,188		925,757		21,384,998
High-Yield Fund Institutional Class		6,578,085		4,147,405		—		—			686,342		7,246,551		45,073,545
Inflation-Adjusted Bond Fund Institutional Class		6,003,576		8,912,965		406,937		304			—		6,642,949		89,679,811
NT Diversified Bond Fund Institutional Class		24,854,951		38,047,186		4,529,493		8,466			1,837,077		27,858,186		312,290,265
NT Emerging Markets Fund Institutional Class		3,283,139		1,451,632		338,527		(18,449	)		—		3,402,881		33,620,467
NT International Growth Fund Institutional Class		9,828,946		4,467,356		2,008,603		13,836			—		10,086,048		97,532,089
Premium Money Market Fund Investor Class		59,881,950		6,584,617		30,738		—			1,593		66,435,829		66,435,829
International Bond Fund Institutional Class		3,098,722		6,140,433		149,172		—			601,479		3,506,215		51,576,426

			$	118,096,894	$	10,619,009	$	1,333		$	5,017,841			$	1,330,360,732


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2030 Portfolio Fund

October 31, 2012

LIVESTRONG 2030 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 51.6%
NT Core Equity Plus Fund Institutional Class		1,682,252			19,278,609
NT Equity Growth Fund Institutional Class		5,171,231			54,763,341
NT Growth Fund Institutional Class		5,278,987			67,148,708
NT Large Company Value Fund Institutional Class		7,604,440			72,622,405
NT Mid Cap Value Fund Institutional Class		3,036,355			31,153,002
NT Small Company Fund Institutional Class		2,532,713			21,300,117
NT Vista Fund Institutional Class		2,799,711			29,704,934
Real Estate Fund Institutional Class		477,415			11,028,291

					306,999,407

DOMESTIC FIXED INCOME FUNDS — 30.1%
High-Yield Fund Institutional Class		2,899,389			18,034,196
Inflation-Adjusted Bond Fund Institutional Class		2,677,975			36,152,666
NT Diversified Bond Fund Institutional Class		11,124,703			124,707,925

					178,894,787

INTERNATIONAL EQUITY FUNDS — 11.8%
NT Emerging Markets Fund Institutional Class		1,808,744			17,870,387
NT International Growth Fund Institutional Class		5,403,667			52,253,463

					70,123,850

MONEY MARKET FUNDS — 5.0%
Premium Money Market Fund Investor Class		29,566,202			29,566,202

INTERNATIONAL FIXED INCOME FUNDS — 1.4%
International Bond Fund Institutional Class		557,274			8,197,502

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $517,610,924)					593,781,748

OTHER ASSETS AND LIABILITIES — 0.1%					769,127

TOTAL NET ASSETS — 100.0%				$	594,550,875


Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	520,608,904
Gross tax appreciation of investments	$	73,172,844
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	73,172,844

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		1,491,503		2,958,864		755,100		(5,886	)		—		1,682,252		19,278,609
NT Equity Growth Fund Institutional Class		4,534,797		9,272,299		2,454,566		(22,331	)		254,714		5,171,231		54,763,341
NT Growth Fund Institutional Class		4,612,041		12,044,915		3,334,261		(29,594	)		—		5,278,987		67,148,708
NT Large Company Value Fund Institutional Class		6,782,795		10,939,238		3,081,883		(10,772	)		347,121		7,604,440		72,622,405
NT Mid Cap Value Fund Institutional Class		2,685,003		4,860,280		1,270,830		(16,134	)		149,014		3,036,355		31,153,002
NT Small Company Fund Institutional Class		2,253,093		3,546,893		1,185,578		(25,666	)		73,949		2,532,713		21,300,117
NT Vista Fund Institutional Class		2,435,953		5,231,649		1,322,951		(13,358	)		—		2,799,711		29,704,934
Real Estate Fund Institutional Class		403,233		2,120,558		394,805		(14,099	)		20,106		477,415		11,028,291
High-Yield Fund Institutional Class		2,520,709		3,074,771		727,026		(8,117	)		268,574		2,899,389		18,034,196
Inflation-Adjusted Bond Fund Institutional Class		2,284,960		6,850,095		1,603,117		801			—		2,677,975		36,152,666
NT Diversified Bond Fund Institutional Class		9,420,248		24,987,829		5,940,699		21,625			712,515		11,124,703		124,707,925
NT Emerging Markets Fund Institutional Class		1,649,273		2,364,229		913,845		(71,595	)		—		1,808,744		17,870,387
NT International Growth Fund Institutional Class		4,982,532		6,440,030		2,429,370		(31,595	)		—		5,403,667		52,253,463
Premium Money Market Fund Investor Class		25,366,804		5,437,959		1,238,561		—			692		29,566,202		29,566,202
International Bond Fund Institutional Class		437,707		2,132,525		376,812		890			91,626		557,274		8,197,502

			$	102,262,134	$	27,029,404	$	(225,831	)	$	1,918,311			$	593,781,748


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2035 Portfolio Fund

October 31, 2012

LIVESTRONG 2035 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 56.6%
NT Core Equity Plus Fund Institutional Class		2,659,640			30,479,475
NT Equity Growth Fund Institutional Class		8,663,016			91,741,339
NT Growth Fund Institutional Class		9,592,130			122,011,899
NT Large Company Value Fund Institutional Class		12,832,893			122,554,128
NT Mid Cap Value Fund Institutional Class		5,338,334			54,771,304
NT Small Company Fund Institutional Class		4,647,457			39,085,113
NT Vista Fund Institutional Class		5,159,475			54,742,025
Real Estate Fund Institutional Class		857,771			19,814,519

					535,199,802

DOMESTIC FIXED INCOME FUNDS — 26.0%
High-Yield Fund Institutional Class		3,877,162			24,115,946
Inflation-Adjusted Bond Fund Institutional Class		3,674,294			49,602,963
NT Diversified Bond Fund Institutional Class		15,340,704			171,969,293

					245,688,202

INTERNATIONAL EQUITY FUNDS — 13.5%
NT Emerging Markets Fund Institutional Class		3,424,085			33,829,962
NT International Growth Fund Institutional Class		9,696,062			93,760,915

					127,590,877

MONEY MARKET FUNDS — 3.8%
Premium Money Market Fund Investor Class		36,628,980			36,628,980

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $812,989,635)					945,107,861

OTHER ASSETS AND LIABILITIES — 0.1%					541,493

TOTAL NET ASSETS — 100.0%				$	945,649,354



Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	832,693,269
Gross tax appreciation of investments	$	112,414,592
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	112,414,592

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		2,518,988		1,618,579		—		—			—		2,659,640		30,479,475
NT Equity Growth Fund Institutional Class		8,074,607		6,769,144		491,457		(5,708	)		448,711		8,663,016		91,741,339
NT Growth Fund Institutional Class		8,807,150		11,209,145		1,021,271		(13,046	)		—		9,592,130		122,011,899
NT Large Company Value Fund Institutional Class		12,167,453		7,041,885		756,780		(27,311	)		615,859		12,832,893		122,554,128
NT Mid Cap Value Fund Institutional Class		5,080,596		2,628,034		—		—			275,842		5,338,334		54,771,304
NT Small Company Fund Institutional Class		4,292,075		3,189,155		199,541		(7,066	)		143,038		4,647,457		39,085,113
NT Vista Fund Institutional Class		4,840,447		3,889,064		501,751		11,093			—		5,159,475		54,742,025
Real Estate Fund Institutional Class		771,440		2,016,511		—		—			37,819		857,771		19,814,519
High-Yield Fund Institutional Class		3,581,135		1,835,658		—		—			370,928		3,877,162		24,115,946
Inflation-Adjusted Bond Fund Institutional Class		3,322,924		5,026,003		348,371		243			—		3,674,294		49,602,963
NT Diversified Bond Fund Institutional Class		13,768,000		21,234,622		3,676,614		7,186			1,015,877		15,340,704		171,969,293
NT Emerging Markets Fund Institutional Class		3,369,064		1,078,409		615,980		(45,723	)		—		3,424,085		33,829,962
NT International Growth Fund Institutional Class		9,351,486		5,218,188		2,096,034		(85,937	)		—		9,696,062		93,760,915
Premium Money Market Fund Investor Class		32,036,485		4,651,516		59,021		—			876		36,628,980		36,628,980

			$	77,405,913	$	9,766,820	$	(166,269	)	$	2,908,950			$	945,107,861


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2040 Portfolio Fund

October 31, 2012

LIVESTRONG 2040 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 61.8%
NT Core Equity Plus Fund Institutional Class		1,257,231			14,407,871
NT Equity Growth Fund Institutional Class		3,715,735			39,349,634
NT Growth Fund Institutional Class		4,214,817			53,612,474
NT Large Company Value Fund Institutional Class		5,637,144			53,834,726
NT Mid Cap Value Fund Institutional Class		2,555,666			26,221,133
NT Small Company Fund Institutional Class		1,829,652			15,387,377
NT Vista Fund Institutional Class		2,471,722			26,224,974
Real Estate Fund Institutional Class		393,253			9,084,136

					238,122,325

DOMESTIC FIXED INCOME FUNDS — 22.2%
High-Yield Fund Institutional Class		1,350,634			8,400,944
Inflation-Adjusted Bond Fund Institutional Class		1,261,762			17,033,788
NT Diversified Bond Fund Institutional Class		5,377,781			60,284,926

					85,719,658

INTERNATIONAL EQUITY FUNDS — 14.5%
NT Emerging Markets Fund Institutional Class		1,785,741			17,643,121
NT International Growth Fund Institutional Class		3,978,377			38,470,910

					56,114,031

MONEY MARKET FUNDS — 1.4%
Premium Money Market Fund Investor Class		5,262,017			5,262,017

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $339,795,652)					385,218,031

OTHER ASSETS AND LIABILITIES — 0.1%					369,253

TOTAL NET ASSETS — 100.0%				$	385,587,284



Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	341,555,710
Gross tax appreciation of investments	$	43,662,321
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	43,662,321

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		1,105,545		2,268,481		512,661		(2,872	)		—		1,257,231		14,407,871
NT Equity Growth Fund Institutional Class		3,225,417		6,773,604		1,515,893		(14,599	)		182,464		3,715,735		39,349,634
NT Growth Fund Institutional Class		3,607,363		10,118,899		2,180,039		(17,806	)		—		4,214,817		53,612,474
NT Large Company Value Fund Institutional Class		4,984,032		8,206,870		1,954,734		(935	)		256,708		5,637,144		53,834,726
NT Mid Cap Value Fund Institutional Class		2,260,844		3,955,623		943,448		(16,908	)		125,003		2,555,666		26,221,133
NT Small Company Fund Institutional Class		1,573,431		2,748,380		566,440		(18,133	)		52,614		1,829,652		15,387,377
NT Vista Fund Institutional Class		2,153,929		4,448,415		1,026,599		(13,961	)		—		2,471,722		26,224,974
Real Estate Fund Institutional Class		327,896		1,788,537		264,847		(9,471	)		16,436		393,253		9,084,136
High-Yield Fund Institutional Class		1,159,364		1,508,536		323,377		(3,610	)		124,567		1,350,634		8,400,944
Inflation-Adjusted Bond Fund Institutional Class		1,063,741		3,373,139		727,908		220			—		1,261,762		17,033,788
NT Diversified Bond Fund Institutional Class		4,501,664		12,515,547		2,723,571		7,734			341,783		5,377,781		60,284,926
NT Emerging Markets Fund Institutional Class		1,634,762		2,285,256		916,020		(80,196	)		—		1,785,741		17,643,121
NT International Growth Fund Institutional Class		3,604,118		5,079,961		1,547,949		(43,768	)		—		3,978,377		38,470,910
Premium Money Market Fund Investor Class		4,073,188		1,394,446		205,617		—			120		5,262,017		5,262,017

			$	66,465,694	$	15,409,103	$	(214,305	)	$	1,099,695			$	385,218,031


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2045 Portfolio

October 31, 2012

LIVESTRONG 2045 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC EQUITY FUNDS — 65.3%
NT Core Equity Plus Fund Institutional Class		2,375,150			27,219,224
NT Equity Growth Fund Institutional Class		5,861,588			62,074,217
NT Growth Fund Institutional Class		7,011,073			89,180,848
NT Large Company Value Fund Institutional Class		9,373,022			89,512,364
NT Mid Cap Value Fund Institutional Class		4,289,907			44,014,450
NT Small Company Fund Institutional Class		3,061,018			25,743,158
NT Vista Fund Institutional Class		4,148,743			44,018,167
Real Estate Fund Institutional Class		683,655			15,792,430

					397,554,858

DOMESTIC FIXED INCOME FUNDS — 19.3%
High-Yield Fund Institutional Class		1,860,755			11,573,896
Inflation-Adjusted Bond Fund Institutional Class		1,727,516			23,321,468
NT Diversified Bond Fund Institutional Class		7,344,052			82,326,821

					117,222,185

INTERNATIONAL EQUITY FUNDS — 15.4%
NT Emerging Markets Fund Institutional Class		3,347,680			33,075,081
NT International Growth Fund Institutional Class		6,279,387			60,721,674

					93,796,755

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $529,529,491)					608,573,798

OTHER ASSETS AND LIABILITIES †					201,682

TOTAL NET ASSETS — 100.0%				$	608,775,480



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	544,023,570
Gross tax appreciation of investments	$	64,550,228
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	64,550,228

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		2,243,457		1,519,016		2,865		(27	)		—		2,375,150		27,219,224
NT Equity Growth Fund Institutional Class		5,460,534		4,533,718		245,584		(2,731	)		304,057		5,861,588		62,074,217
NT Growth Fund Institutional Class		6,428,036		8,202,725		618,341		(7,554	)		—		7,011,073		89,180,848
NT Large Company Value Fund Institutional Class		8,880,192		4,965,380		299,248		(12,487	)		450,120		9,373,022		89,512,364
NT Mid Cap Value Fund Institutional Class		4,029,865		2,698,958		47,425		(2,123	)		221,670		4,289,907		44,014,450
NT Small Company Fund Institutional Class		2,827,526		1,977,908		—		—			93,792		3,061,018		25,743,158
NT Vista Fund Institutional Class		3,839,534		3,555,870		253,500		(3,531	)		—		4,148,743		44,018,167
Real Estate Fund Institutional Class		612,651		1,661,633		—		—			30,234		683,655		15,792,430
High-Yield Fund Institutional Class		1,697,991		1,009,177		—		—			177,093		1,860,755		11,573,896
Inflation-Adjusted Bond Fund Institutional Class		1,549,978		2,521,318		161,032		(212	)		—		1,727,516		23,321,468
NT Diversified Bond Fund Institutional Class		6,513,102		10,895,060		1,622,318		5,104			484,444		7,344,052		82,326,821
NT Emerging Markets Fund Institutional Class		3,283,043		1,244,711		706,007		(67,448	)		—		3,347,680		33,075,081
NT International Growth Fund Institutional Class		6,094,048		2,939,694		1,263,372		(52,535	)		—		6,279,387		60,721,674

			$	47,725,168	$	5,219,692	$	(143,544	)	$	1,761,410			$	608,573,798


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2050 Portfolio Fund

October 31, 2012

LIVESTRONG 2050 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC EQUITY FUNDS — 67.3%
NT Core Equity Plus Fund Institutional Class		786,200			9,009,857
NT Equity Growth Fund Institutional Class		1,987,805			21,050,851
NT Growth Fund Institutional Class		2,357,868			29,992,075
NT Large Company Value Fund Institutional Class		3,207,161			30,628,386
NT Mid Cap Value Fund Institutional Class		1,432,724			14,699,749
NT Small Company Fund Institutional Class		1,135,193			9,546,971
NT Vista Fund Institutional Class		1,383,475			14,678,669
Real Estate Fund Institutional Class		249,086			5,753,890

					135,360,448

DOMESTIC FIXED INCOME FUNDS — 16.7%
High-Yield Fund Institutional Class		532,882			3,314,523
Inflation-Adjusted Bond Fund Institutional Class		496,782			6,706,559
NT Diversified Bond Fund Institutional Class		2,108,341			23,634,504

					33,655,586

INTERNATIONAL EQUITY FUNDS — 16.0%
NT Emerging Markets Fund Institutional Class		1,279,476			12,641,219
NT International Growth Fund Institutional Class		2,025,474			19,586,335

					32,227,554

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $183,533,912)					201,243,588

OTHER ASSETS AND LIABILITIES †					80,262

TOTAL NET ASSETS — 100.0%				$	201,323,850



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	184,487,268
Gross tax appreciation of investments	$	16,756,320
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	16,756,320

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		691,586		1,278,529		185,984		(2,020	)		—		786,200		9,009,857
NT Equity Growth Fund Institutional Class		1,724,371		3,285,056		461,087		(6,137	)		98,808		1,987,805		21,050,851
NT Growth Fund Institutional Class		2,015,143		5,178,037		703,488		(8,240	)		—		2,357,868		29,992,075
NT Large Company Value Fund Institutional Class		2,828,432		4,234,084		618,278		(6,478	)		146,101		3,207,161		30,628,386
NT Mid Cap Value Fund Institutional Class		1,264,534		2,009,464		296,853		(14,098	)		70,540		1,432,724		14,699,749
NT Small Company Fund Institutional Class		974,167		1,601,402		234,115		(14,786	)		32,566		1,135,193		9,546,971
NT Vista Fund Institutional Class		1,204,860		2,243,928		318,998		(5,108	)		—		1,383,475		14,678,669
Real Estate Fund Institutional Class		206,815		1,064,176		74,543		(3,094	)		10,551		249,086		5,753,890
High-Yield Fund Institutional Class		451,058		578,553		71,312		(796	)		48,865		532,882		3,314,523
Inflation-Adjusted Bond Fund Institutional Class		414,111		1,285,358		181,901		(24	)		—		496,782		6,706,559
NT Diversified Bond Fund Institutional Class		1,743,952		4,843,552		772,470		1,729			133,664		2,108,341		23,634,504
NT Emerging Markets Fund Institutional Class		1,150,083		1,647,724		460,432		(48,340	)		—		1,279,476		12,641,219
NT International Growth Fund Institutional Class		1,831,658		2,324,397		501,681		(26,520	)		—		2,025,474		19,586,335

			$	31,574,260	$	4,881,142	$	(133,912	)	$	541,095			$	201,243,588


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® 2055 Portfolio Fund

October 31, 2012

LIVESTRONG 2055 Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 68.9%
NT Core Equity Plus Fund Institutional Class		66,127			757,814
NT Equity Growth Fund Institutional Class		170,846			1,809,263
NT Growth Fund Institutional Class		201,125			2,558,307
NT Large Company Value Fund Institutional Class		273,487			2,611,806
NT Mid Cap Value Fund Institutional Class		123,504			1,267,153
NT Small Company Fund Institutional Class		100,544			845,578
NT Vista Fund Institutional Class		119,187			1,264,576
Real Estate Fund Institutional Class		22,046			509,255

					11,623,752

INTERNATIONAL EQUITY FUNDS — 16.0%
NT Emerging Markets Fund Institutional Class		111,845			1,105,025
NT International Growth Fund Institutional Class		165,697			1,602,292

					2,707,317

DOMESTIC FIXED INCOME FUNDS — 15.0%
High-Yield Fund Institutional Class		40,522			252,045
Inflation-Adjusted Bond Fund Institutional Class		37,622			507,903
NT Diversified Bond Fund Institutional Class		158,031			1,771,525

					2,531,473

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $16,104,411)					16,862,542

OTHER ASSETS AND LIABILITIES — 0.1%					19,893

TOTAL NET ASSETS — 100.0%				$	16,882,435



Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	16,232,432
Gross tax appreciation of investments	$	630,110
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	630,110

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		50,151		200,863		16,831		(28	)		—		66,127		757,814
NT Equity Growth Fund Institutional Class		128,167		504,016		47,200		(195	)		7,806		170,846		1,809,263
NT Growth Fund Institutional Class		148,776		754,333		72,031		(616	)		—		201,125		2,558,307
NT Large Company Value Fund Institutional Class		208,951		680,190		63,425		23			11,452		273,487		2,611,806
NT Mid Cap Value Fund Institutional Class		93,260		337,051		27,503		(117	)		5,590		123,504		1,267,153
NT Small Company Fund Institutional Class		74,362		250,830		27,074		(561	)		2,643		100,544		845,578
NT Vista Fund Institutional Class		88,867		365,246		39,004		(588	)		—		119,187		1,264,576
Real Estate Fund Institutional Class		15,600		161,320		10,541		(228	)		855		22,046		509,255
NT Emerging Markets Fund Institutional Class		87,371		267,784		32,440		(586	)		—		111,845		1,105,025
NT International Growth Fund Institutional Class		130,645		387,780		52,949		(316	)		—		165,697		1,602,292
High-Yield Fund Institutional Class		30,137		68,703		4,247		(6	)		3,479		40,522		252,045
Inflation-Adjusted Bond Fund Institutional Class		27,675		143,407		10,369		(72	)		—		37,622		507,903
NT Diversified Bond Fund Institutional Class		115,567		509,958		35,356		(139	)		9,387		158,031		1,771,525

			$	4,631,481	$	438,970	$	(3,429	)	$	41,212			$	16,862,542


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

LIVE STRONG ® Income Portfolio

October 31, 2012

LIVESTRONG Income Portfolio - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 99.9%

DOMESTIC EQUITY FUNDS — 39.8%
NT Core Equity Plus Fund Institutional Class		1,027,687			11,777,295
NT Equity Growth Fund Institutional Class		3,710,012			39,289,025
NT Growth Fund Institutional Class		2,001,083			25,453,781
NT Large Company Value Fund Institutional Class		4,517,067			43,137,987
NT Mid Cap Value Fund Institutional Class		1,533,988			15,738,714
NT Small Company Fund Institutional Class		931,462			7,833,598
NT Vista Fund Institutional Class		925,251			9,816,912
Real Estate Fund Institutional Class		169,225			3,909,102

					156,956,414

DOMESTIC FIXED INCOME FUNDS — 38.1%
High-Yield Fund Institutional Class		2,407,343			14,973,674
Inflation-Adjusted Bond Fund Institutional Class		2,231,868			30,130,217
NT Diversified Bond Fund Institutional Class		9,397,215			105,342,778

					150,446,669

MONEY MARKET FUNDS — 10.0%
Premium Money Market Fund Investor Class		39,316,633			39,316,633

INTERNATIONAL FIXED INCOME FUNDS — 7.0%
International Bond Fund Institutional Class		1,878,203			27,628,361

INTERNATIONAL EQUITY FUNDS — 5.0%
NT International Growth Fund Institutional Class		2,041,294			19,739,317

TOTAL INVESTMENT SECURITIES — 99.9% (Cost $335,873,350)					394,087,394

OTHER ASSETS AND LIABILITIES — 0.1%					210,306

TOTAL NET ASSETS — 100.0%				$	394,297,700



Notes to Schedule of Investments

(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	347,268,142
Gross tax appreciation of investments	$	46,819,252
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	46,819,252

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
NT Core Equity Plus Fund Institutional Class		943,431		1,156,395		176,809		(43	)		—		1,027,687		11,777,295
NT Equity Growth Fund Institutional Class		3,359,605		4,840,055		1,043,053		26,581			184,208		3,710,012		39,289,025
NT Growth Fund Institutional Class		1,786,456		3,222,443		398,936		8,096			—		2,001,083		25,453,781
NT Large Company Value Fund Institutional Class		4,177,117		4,391,540		1,105,009		17,401			208,365		4,517,067		43,137,987
NT Mid Cap Value Fund Institutional Class		1,402,010		1,517,350		161,863		(1,409	)		76,181		1,533,988		15,738,714
NT Small Company Fund Institutional Class		839,198		928,959		132,608		7,510			27,469		931,462		7,833,598
NT Vista Fund Institutional Class		834,795		1,181,711		199,262		4,912			—		925,251		9,816,912
Real Estate Fund Institutional Class		146,969		526,013		—		—			7,212		169,225		3,909,102
High-Yield Fund Institutional Class		2,165,914		1,668,706		166,535		(1,859	)		225,596		2,407,343		14,973,674
Inflation-Adjusted Bond Fund Institutional Class		1,982,806		3,841,180		503,394		375			—		2,231,868		30,130,217
NT Diversified Bond Fund Institutional Class		8,257,704		15,181,723		2,447,370		4,392			608,324		9,397,215		105,342,778
Premium Money Market Fund Investor Class		34,761,888		5,136,879		582,134		—			928		39,316,633		39,316,633
International Bond Fund Institutional Class		1,679,263		3,581,196		649,444		(89	)		311,980		1,878,203		27,628,361
NT International Growth Fund Institutional Class		1,922,365		1,719,090		565,280		10,961			—		2,041,294		19,739,317

			$	48,893,240	$	8,131,697	$	76,828		$	1,650,263			$	394,087,394


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.

American Century Investments ®

Quarterly Portfolio Holdings

One Choice Portfolio ® : Aggressive

October 31, 2012

One Choice Portfolio: Aggressive - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC EQUITY FUNDS — 59.5%
Core Equity Plus Fund Investor Class		2,726,807			30,812,921
Equity Growth Fund Investor Class		2,814,379			68,079,837
Growth Fund Investor Class		3,811,686			104,745,140
Large Company Value Fund Investor Class		8,241,225			51,507,654
Mid Cap Value Fund Investor Class		2,530,863			32,875,909
Real Estate Fund Investor Class		593,309			13,675,767
Small Company Fund Investor Class		1,812,820			15,191,427
Vista Fund Investor Class (2)		5,289,141			91,449,243

					408,337,898

DOMESTIC FIXED INCOME FUNDS — 20.2%
Diversified Bond Fund Investor Class		6,157,610			69,519,417
High-Yield Fund Investor Class		6,723,543			41,753,202
Inflation-Adjusted Bond Fund Investor Class		2,063,558			27,837,398

					139,110,017

INTERNATIONAL EQUITY FUNDS — 19.3%
Emerging Markets Fund Investor Class (2)		5,557,736			45,684,592
International Growth Fund Investor Class		7,905,260			86,562,601

					132,247,193

MONEY MARKET FUNDS — 1.0%
Prime Money Market Fund Investor Class		6,683,404			6,683,404

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $589,561,821)					686,378,512

OTHER ASSETS AND LIABILITIES †					(225	)

TOTAL NET ASSETS — 100.0%				$	686,378,287



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.
(2)	Non-income producing.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	622,334,679
Gross tax appreciation of investments	$	64,043,833
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	64,043,833

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
Core Equity Plus Fund Investor Class		2,368,269		4,094,165		222,015		11,835			—		2,726,807		30,812,921
Equity Growth Fund Investor Class		2,426,659		9,425,924		337,430		1,814			293,308		2,814,379		68,079,837
Growth Fund Investor Class		2,989,446		22,741,802		318,373		(189	)		—		3,811,686		104,745,140
Large Company Value Fund Investor Class		8,152,604		8,183,792		9,432,702		(1,566,561	)		241,909		8,241,225		51,507,654
Mid Cap Value Fund Investor Class		2,178,787		4,386,163		—		—			145,393		2,530,863		32,875,909
Real Estate Fund Investor Class		500,321		2,175,266		—		—			19,752		593,309		13,675,767
Small Company Fund Investor Class		1,520,553		2,645,760		362,343		(57,624	)		53,841		1,812,820		15,191,427
Vista Fund Investor Class (2)		4,456,567		15,817,065		1,967,871		27,363			—		5,289,141		91,449,243
Diversified Bond Fund Investor Class		4,481,127		19,973,865		1,083,846		(1,679	)		419,170		6,157,610		69,519,417
High-Yield Fund Investor Class		6,549,242		7,392,721		6,562,590		(226,210	)		655,058		6,723,543		41,753,202
Inflation-Adjusted Bond Fund Investor Class		1,709,460		4,791,739		72,338		336			—		2,063,558		27,837,398
Emerging Markets Fund Investor Class (2)		4,735,309		7,561,486		1,403,997		(92,960	)		—		5,557,736		45,684,592
International Growth Fund Investor Class		6,960,363		11,953,774		2,597,101		(165,573	)		—		7,905,260		86,562,601
Prime Money Market Fund Investor Class		5,640,611		1,042,793		—		—			167		6,683,404		6,683,404

			$	122,186,315	$	24,360,606	$	(2,069,448	)	$	1,828,598			$	686,378,512


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.
(2) Non-income producing.

American Century Investments ®

Quarterly Portfolio Holdings

One Choice Portfolio ® : Conservative

October 31, 2012

One Choice Portfolio: Conservative - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC FIXED INCOME FUNDS — 39.3%
Diversified Bond Fund Investor Class		16,364,314			184,753,108
Inflation-Adjusted Bond Fund Investor Class		4,090,623			55,182,501

					239,935,609

DOMESTIC EQUITY FUNDS — 38.7%
Core Equity Plus Fund Investor Class		1,057,629			11,951,208
Equity Growth Fund Investor Class		1,750,974			42,356,061
Growth Fund Investor Class		1,262,126			34,683,214
Large Company Value Fund Investor Class		9,705,762			60,661,012
Mid Cap Value Fund Investor Class		3,162,632			41,082,594
Real Estate Fund Investor Class		527,302			12,154,312
Small Company Fund Investor Class		1,064,462			8,920,188
Vista Fund Investor Class (2)		1,399,567			24,198,518

					236,007,107

INTERNATIONAL FIXED INCOME FUNDS — 8.0%
International Bond Fund Investor Class		3,317,013			48,826,436

MONEY MARKET FUNDS — 8.0%
Prime Money Market Fund Investor Class		48,818,007			48,818,007

INTERNATIONAL EQUITY FUNDS — 6.0%
International Growth Fund Investor Class		3,374,815			36,954,221

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $536,354,690)					610,541,380

OTHER ASSETS AND LIABILITIES †					(612	)

TOTAL NET ASSETS — 100.0%				$	610,540,768



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.
(2)	Non-income producing.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	557,638,655
Gross tax appreciation of investments	$	52,902,725
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	52,902,725

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
Diversified Bond Fund Investor Class		15,205,914		13,036,526		—		—			1,111,227		16,364,314		184,753,108
Inflation-Adjusted Bond Fund Investor Class		3,852,222		3,171,857		—		—			—		4,090,623		55,182,501
Core Equity Plus Fund Investor Class		1,050,804		78,424		—		—			—		1,057,629		11,951,208
Equity Growth Fund Investor Class		1,708,266		1,044,556		—		—			178,870		1,750,974		42,356,061
Growth Fund Investor Class		1,000,409		7,278,692		—		—			—		1,262,126		34,683,214
Large Company Value Fund Investor Class		10,629,310		1,795,980		8,043,168		(591,372	)		281,324		9,705,762		60,661,012
Mid Cap Value Fund Investor Class		3,096,936		849,268		—		—			179,787		3,162,632		41,082,594
Real Estate Fund Investor Class		488,846		892,985		—		—			17,132		527,302		12,154,312
Small Company Fund Investor Class		1,031,153		279,875		—		—			31,234		1,064,462		8,920,188
Vista Fund Investor Class (2)		1,354,274		783,523		—		—			—		1,399,567		24,198,518
International Bond Fund Investor Class		3,136,466		2,652,289		—		—			518,840		3,317,013		48,826,436
Prime Money Market Fund Investor Class		45,447,776		3,370,231		—		—			1,194		48,818,007		48,818,007
International Growth Fund Investor Class		3,421,543		5,288		537,543		(44,410	)		—		3,374,815		36,954,221

			$	35,239,494	$	8,580,711	$	(635,782	)	$	2,319,608			$	610,541,380


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.
(2) Non-income producing.

American Century Investments ®

Quarterly Portfolio Holdings

One Choice Portfolio ® : Moderate

October 31, 2012

One Choice Portfolio: Moderate - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC EQUITY FUNDS — 49.6%
Core Equity Plus Fund Investor Class		3,178,672			35,918,994
Equity Growth Fund Investor Class		4,491,910			108,659,315
Growth Fund Investor Class		2,953,044			81,149,649
Large Company Value Fund Investor Class		12,299,805			76,873,784
Mid Cap Value Fund Investor Class		3,849,266			50,001,961
Real Estate Fund Investor Class		785,961			18,116,404
Small Company Fund Investor Class		2,127,320			17,826,945
Vista Fund Investor Class (2)		3,658,756			63,259,898

					451,806,950

DOMESTIC FIXED INCOME FUNDS — 28.3%
Diversified Bond Fund Investor Class		14,693,933			165,894,501
High-Yield Fund Investor Class		5,908,570			36,692,218
Inflation-Adjusted Bond Fund Investor Class		4,085,701			55,116,113

					257,702,832

INTERNATIONAL EQUITY FUNDS — 14.1%
Emerging Markets Fund Investor Class (2)		4,542,262			37,337,397
International Growth Fund Investor Class		8,336,722			91,287,105

					128,624,502

MONEY MARKET FUNDS — 5.0%
Prime Money Market Fund Investor Class		45,697,646			45,697,646

INTERNATIONAL FIXED INCOME FUNDS — 3.0%
International Bond Fund Investor Class		1,855,440			27,312,079

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $773,997,875)					911,144,009

OTHER ASSETS AND LIABILITIES †					(1,352	)

TOTAL NET ASSETS — 100.0%				$	911,142,657



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.
(2)	Non-income producing.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	823,455,146
Gross tax appreciation of investments	$	87,688,863
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	87,688,863

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
Core Equity Plus Fund Investor Class		3,167,053		133,712		—		—			—		3,178,672		35,918,994
Equity Growth Fund Investor Class		4,436,382		1,910,387		538,993		12,648			461,411		4,491,910		108,659,315
Growth Fund Investor Class		2,520,984		12,041,864		48,888		(485	)		—		2,953,044		81,149,649
Large Company Value Fund Investor Class		13,928,544		892,500		12,969,012		(2,082,352	)		357,767		12,299,805		76,873,784
Mid Cap Value Fund Investor Class		3,829,910		254,199		—		—			220,986		3,849,266		50,001,961
Real Estate Fund Investor Class		770,254		477,627		91,549		25,838			26,479		785,961		18,116,404
Small Company Fund Investor Class		2,048,800		678,783		—		—			61,110		2,127,320		17,826,945
Vista Fund Investor Class (2)		3,546,138		2,067,551		109,511		922			—		3,658,756		63,259,898
Diversified Bond Fund Investor Class		13,248,092		16,967,599		697,484		(2,716	)		997,516		14,693,933		165,894,501
High-Yield Fund Investor Class		6,929,427		961,834		7,484,522		(263,026	)		576,908		5,908,570		36,692,218
Inflation-Adjusted Bond Fund Investor Class		3,946,445		1,852,548		—		—			—		4,085,701		55,116,113
Emerging Markets Fund Investor Class (2)		4,432,269		1,009,708		180,057		(10,866	)		—		4,542,262		37,337,397
International Growth Fund Investor Class		8,552,810		—		2,437,552		(94,153	)		—		8,336,722		91,287,105
Prime Money Market Fund Investor Class		43,879,863		1,817,783		—		—			1,122		45,697,646		45,697,646
International Bond Fund Investor Class		1,799,097		831,513		—		—			291,634		1,855,440		27,312,079

			$	41,897,608	$	24,557,568	$	(2,414,190	)	$	2,994,933			$	911,144,009


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.
(2) Non-income producing.

American Century Investments ®

Quarterly Portfolio Holdings

One Choice Portfolio ® : Very Aggressive

October 31, 2012

One Choice Portfolio: Very Aggressive - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC EQUITY FUNDS — 72.7%
Core Equity Plus Fund Investor Class		833,742			9,421,290
Equity Growth Fund Investor Class		1,058,706			25,610,087
Growth Fund Investor Class		1,327,195			36,471,332
Large Company Value Fund Investor Class		3,007,868			18,799,173
Mid Cap Value Fund Investor Class		920,085			11,951,909
Real Estate Fund Investor Class		169,498			3,906,930
Small Company Fund Investor Class		582,060			4,877,663
Vista Fund Investor Class (2)		1,863,919			32,227,167

					143,265,551

INTERNATIONAL EQUITY FUNDS — 23.2%
Emerging Markets Fund Investor Class (2)		1,829,343			15,037,200
International Growth Fund Investor Class		2,797,144			30,628,725

					45,665,925

DOMESTIC FIXED INCOME FUNDS — 3.1%
Diversified Bond Fund Investor Class		533,361			6,021,641

MONEY MARKET FUNDS — 1.0%
Prime Money Market Fund Investor Class		1,985,348			1,985,348

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $159,681,684)					196,938,465

OTHER ASSETS AND LIABILITIES †					(22	)

TOTAL NET ASSETS — 100.0%				$	196,938,443



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.
(2)	Non-income producing.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	176,856,219
Gross tax appreciation of investments	$	20,082,246
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	20,082,246

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
Core Equity Plus Fund Investor Class		855,891		—		218,823		29,893			—		833,742		9,421,290
Equity Growth Fund Investor Class		1,071,508		209,552		511,009		6,577			110,539		1,058,706		25,610,087
Growth Fund Investor Class		1,262,996		2,169,546		390,377		5,430			—		1,327,195		36,471,332
Large Company Value Fund Investor Class		3,416,010		165,265		3,069,206		(390,896	)		88,830		3,007,868		18,799,173
Mid Cap Value Fund Investor Class		934,024		66,997		235,532		9,475			53,240		920,085		11,951,909
Real Estate Fund Investor Class		167,031		58,396		—		—			5,779		169,498		3,906,930
Small Company Fund Investor Class		589,533		17,305		94,387		(13,010	)		17,305		582,060		4,877,663
Vista Fund Investor Class (2)		1,862,484		235,096		210,912		7,211			—		1,863,919		32,227,167
Emerging Markets Fund Investor Class (2)		1,877,284		252,853		699,845		(43,029	)		—		1,829,343		15,037,200
International Growth Fund Investor Class		2,930,630		130,533		1,632,428		(46,899	)		—		2,797,144		30,628,725
Diversified Bond Fund Investor Class		506,975		382,835		86,034		116			36,902		533,361		6,021,641
Prime Money Market Fund Investor Class		1,961,541		23,807		—		—			50		1,985,348		1,985,348

			$	3,712,185	$	7,148,553	$	(435,132	)	$	312,645			$	196,938,465


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.
(2) Non-income producing.

American Century Investments ®

Quarterly Portfolio Holdings

One Choice Portfolio ® : Very Conservative

October 31, 2012

One Choice Portfolio: Very Conservative - Schedule of Investments
OCTOBER 31, 2012 (UNAUDITED)

	Shares/ Principal Amount ($)		Value ($)

MUTUAL FUNDS (1) — 100.0%

DOMESTIC FIXED INCOME FUNDS — 42.0%
Diversified Bond Fund Investor Class		8,958,335			101,139,602
Inflation-Adjusted Bond Fund Investor Class		2,352,558			31,736,014

					132,875,616

DOMESTIC EQUITY FUNDS — 25.0%
Core Equity Plus Fund Investor Class		279,636			3,159,885
Equity Growth Fund Investor Class		522,085			12,629,239
Growth Fund Investor Class		401,073			11,021,497
Large Company Value Fund Investor Class		3,538,967			22,118,542
Mid Cap Value Fund Investor Class		1,218,950			15,834,159
Real Estate Fund Investor Class		276,436			6,371,846
Small Company Fund Investor Class		379,096			3,176,824
Vista Fund Investor Class (2)		274,301			4,742,672

					79,054,664

MONEY MARKET FUNDS — 23.0%
Prime Money Market Fund Investor Class		72,560,836			72,560,836

INTERNATIONAL FIXED INCOME FUNDS — 10.0%
International Bond Fund Investor Class		2,149,035			31,633,790

TOTAL INVESTMENT SECURITIES — 100.0% (Cost $286,736,882)					316,124,906

OTHER ASSETS AND LIABILITIES †					(377	)

TOTAL NET ASSETS — 100.0%				$	316,124,529



Notes to Schedule of Investments

†	Category is less than 0.05% of total net assets.
(1)	Investments are funds within the American Century Investments family of funds, of which certain funds may be deemed to be under common control because of the same board of directors.
(2)	Non-income producing.

SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS

1. Underlying Funds

2. Investment Valuations

3. Fair Value Measurements

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

•	Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for similar securities, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.); or

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

As of period end, the fund’s investment securities were classified as Level 1. The Schedule of Investments provides additional information on the fund's portfolio holdings.

4. Federal Tax Information

As of October 31, 2012, the components of investments for federal income tax purposes were as follows:

Federal tax cost of investments	$	294,183,569
Gross tax appreciation of investments	$	21,941,337
Gross tax depreciation of investments		—
Net tax appreciation (depreciation) of investments	$	21,941,337

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

5. Affiliated Company Transactions

	July 31, 2012											October 31, 2012
Underlying Fund	Share Balance		Purchase Cost ($)		Sales Cost ($)		Realized Gain (Loss) ($)			Distributions Received (1) ($)		Share Balance		Market Value ($)
Diversified Bond Fund Investor Class		8,344,240		8,083,888		1,173,948		(3,903	)		604,844		8,958,335		101,139,602
Inflation-Adjusted Bond Fund Investor Class		2,198,920		2,292,072		245,304		(644	)		—		2,352,558		31,736,014
Core Equity Plus Fund Investor Class		272,599		143,087		63,186		388			—		279,636		3,159,885
Equity Growth Fund Investor Class		505,103		778,903		358,549		4,591			51,260		522,085		12,629,239
Growth Fund Investor Class		272,764		3,741,177		180,223		(1,736	)		—		401,073		11,021,497
Large Company Value Fund Investor Class		4,008,295		1,509,173		4,083,740		289,033			98,542		3,538,967		22,118,542
Mid Cap Value Fund Investor Class		1,188,763		850,428		453,831		1,392			66,828		1,218,950		15,834,159
Real Estate Fund Investor Class		251,478		609,087		30,893		622			8,761		276,436		6,371,846
Small Company Fund Investor Class		359,650		290,851		127,589		1,883			10,343		379,096		3,176,824
Vista Fund Investor Class (2)		262,284		379,129		174,999		(3,402	)		—		274,301		4,742,672
Prime Money Market Fund Investor Class		67,594,361		5,297,410		330,935		—			1,762		72,560,836		72,560,836
International Bond Fund Investor Class		2,018,705		2,061,010		148,507		(963	)		330,917		2,149,035		31,633,790

			$	26,036,215	$	7,371,704	$	287,261		$	1,173,257			$	316,124,906


(1) Distributions received includes distributions from net investment income and from capital gains, if any, from the underlying funds.
(2) Non-income producing.

ITEM 2. 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 registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 3. EXHIBITS.

Separate certifications by the registrant’s principal executive officer and principal financial officer, 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 Exhibit 99.CERT.

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 ASSET ALLOCATION PORTFOLIOS, INC.


By:	/s/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President

Date:	December 27, 2012

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/ Jonathan S. Thomas
	Name:	Jonathan S. Thomas
	Title:	President
		(principal executive officer)

Date:	December 27, 2012

By:	/s/ C. Jean Wade
	Name:	C. Jean Wade
	Title:	Vice President, Treasurer, and
		Chief Financial Officer
		(principal financial officer)

Date:	December 27, 2012

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AFNCX American Century One Choice 2015 Portfolio - C Class (MM)