TWCCX
Ultra Fund
American Century Mutual Funds, Inc.
Expense ratio1
1.87%
Net assets2
$26.31B
Holdings2
66
Category
US Equity
2025 return3
11.50%

Investment objective & strategy

As of Feb. 27, 2026 · prospectus

Objective. The fund seeks long-term capital growth.

Strategy. The portfolio managers look for stocks of companies they believe will increase in value over time. The portfolio managers make their investment decisions based primarily on their analysis of individual companies, rather than on broad economic forecasts. Management of the fund is based on the belief that, over the long term, stock price movements follow growth in earnings, revenues and/or cash flow. The portfolio managers use a variety of analytical research tools and techniques to identify the stocks of larger-sized companies that meet their investment criteria. Under normal market conditions, the portfolio managers seek securities of companies whose earnings or revenues are not only growing, but growing at an accelerated pace. This includes companies whose growth rates, although still negative, … The portfolio managers look for stocks of companies they believe will increase in value over time. The portfolio managers make their investment decisions based primarily on their analysis of individual companies, rather than on broad economic forecasts. Management of the fund is based on the belief that, over the long term, stock price movements follow growth in earnings, revenues and/or cash flow. The portfolio managers use a variety of analytical research tools and techniques to identify the stocks of larger-sized companies that meet their investment criteria. Under normal market conditions, the portfolio managers seek securities of companies whose earnings or revenues are not only growing, but growing at an accelerated pace. This includes companies whose growth rates, although still negative, are less negative than prior periods, and companies whose growth rates are expected to accelerate. Among other variables, the portfolio managers will consider the funds growth and momentum profile relative to the benchmark. Other analytical techniques help identify additional signs of business improvement, such as increasing cash flows, or other indications of the relative strength of a companys business. In addition to accelerating growth and other signs of business improvement, the fund also considers companies demonstrating price strength relative to their peers. This means that the portfolio managers favor companies whose securities are the strongest performers compared to the overall market. These techniques help the portfolio managers make decisions about buying or holding the stocks of companies they believe have favorable growth prospects and selling the stocks of companies whose characteristics no longer meet their criteria. Although the portfolio managers intend to invest the funds assets primarily in U.S. securities, the fund may invest in securities of foreign companies when these securities meet the portfolio managers standards of selection. The fund may write covered calls on a portion of the funds holdings in common stock when the portfolio managers believe call premiums are attractive relative to the price of the underlying security.

Top holdings

As of Jan. 31, 2026 · N-PORT
SecurityTickerValue% of fund
NVIDIA CORP $4.03B 15.32%
APPLE INC $2.19B 8.31%
AMAZON.COM INC $2.04B 7.76%
MICROSOFT CORP $1.68B 6.39%
ALPHABET INC CL A $1.56B 5.93%
ALPHABET INC CL C $1.36B 5.16%
TESLA INC $1.20B 4.57%
MASTERCARD INC CL A $960.55M 3.65%
META PLATFORMS INC CL A $937.18M 3.56%
BROADCOM INC $922.34M 3.51%
View all holdings →

Allocation by sector

As of January 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Oct 31, 2025 → Jan 31, 2026
Opened
5
Exited
4
Increased
12
Decreased
21
Unchanged
28

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

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Advisers

As of October 31, 2025 · N-CEN
FirmRole
American Century Investment Management, Inc. Adviser

Footnotes

  1. Expense ratio as of February 27, 2026, from the fund's prospectus.
  2. Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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