# EDGAR Filing Document

**Accession Number:** 0000809593
**File Stem:** 0001410368-26-056081
**Filing Date:** 2026-5
**Character Count:** 201347
**Document Hash:** 7aa0d0e45cdd369a2f8efb1c969438aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-056081.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001410368-26-056081

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN BEACON FUNDS
- **CENTRAL INDEX KEY:** 0000809593

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04984
- **FILM NUMBER:** 261041010

**BUSINESS ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 8173916100

**MAIL ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN AADVANTAGE FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EAGLE FUNDS
- **DATE OF NAME CHANGE:** 19890813

## Series and Classes Contracts Data

### American Beacon Stephens Mid-Cap Growth Fund (Series ID: S000035896)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000110031 | Investor Class | STMGX           |
| C000110032 | A Class        | SMFAX           |
| C000110033 | C Class        | SMFCX           |
| C000110034 | R5 Class       | SFMIX           |
| C000110035 | Y Class        | SMFYX           |
| C000210485 | R6 Class       | SFMRX           |

## Nport-Ex

**United States** 

**Securities and Exchange Commission** 

**Washington, DC 20549** 

**FORM N-Q** 

**QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS** 

**OF REGISTERED MANAGEMENT INVESTMENT COMPANY** 

**Investment Company Act file number: 811-04984** 

## AMERICAN BEACON FUNDS
**(Exact name of Registrant as specified in charter)** 

**220 East Las Colinas Blvd., Suite 1200** 

**Irving, Texas 75039** 

**(Address of principal executive offices) (Zip code)** 

**Gregory J. Stumm, PRESIDENT** 

**220 East Las Colinas Blvd., Suite 1200** 

**Irving, Texas 75039** 

**(Name and address of agent for service)** 

**Registrant's telephone number, including area code: (817) 391-6100** 

**Date of fiscal year end: December 31, 2026** 

**Date of reporting period: March 31, 2026** 

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A Registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A Registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

------

ITEM 1. SCHEDULE OF INVESTMENTS.

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Principal Amount** | **Fair Value** |
|  SHORT-TERM INVESTMENTS - 90.1% |  |  |
|  **U.S. Treasury Obligations - 90.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bills, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.794%, Due 4/16/2026<sup>A B</sup> | $150000000 | $149773376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.819%, Due 4/23/2026<sup>A B</sup> | 100000000 | 99778187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.641%, Due 5/7/2026<sup>A B</sup> | 150000000 | 149453625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.618%, Due 5/14/2026<sup>A B</sup> | 150000000 | 149347751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.583%, Due 5/21/2026<sup>A B C</sup> | 195000000 | 194017416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.663%, Due 6/4/2026<sup>A B C</sup> | 40000000 | 39743020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.662%, Due 6/11/2026<sup>A B C</sup> | 145000000 | 143971271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.668%, Due 6/18/2026<sup>A B C</sup> | 45000000 | 44649292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.650%, Due 6/25/2026<sup>A B</sup> | 150000000 | 148729427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.642%, Due 7/16/2026<sup>A B</sup> | 100000000 | 98943278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.640%, Due 8/6/2026<sup>A B C</sup> | 145000000 | 143163743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.677%, Due 8/27/2026<sup>A B</sup> | 150000000 | 147783084 |
|  |  | **1509353470** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $1,509,496,975)** |  | **1509353470** |
|  **TOTAL INVESTMENTS - 90.1% (Cost $1,509,496,975)** |  | **1509353470** |
|  **OTHER ASSETS, NET OF LIABILITIES - 9.9%** |  | **166734501** |
|  **TOTAL NET ASSETS - 100.0%** |  | $**1676087971** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Coupon represents a weighted average yield to maturity.

<sup>B</sup> Zero coupon bond.

<sup>C</sup> All or a portion represents positions held by the American Beacon Cayman Managed Futures Strategy Fund, Ltd.

***Long Futures Contracts Open on March 31, 2026:***

**Commodity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CBOT Corn Futures<sup>A</sup> | 1207 | May 2026 | $27845215 | $27625213 | $(220002) |
|  CBOT Corn Futures<sup>A</sup> | 300 | July 2026 | 7109891 | 7023750 | (86141) |
|  CBOT Soybean Futures<sup>A</sup> | 797 | May 2026 | 46649836 | 46664350 | 14514 |
|  CBOT Soybean Futures<sup>A</sup> | 40 | July 2026 | 2354755 | 2372000 | 17245 |
|  CBOT Soybean Meal Futures<sup>A</sup> | 273 | May 2026 | 8722978 | 8637720 | (85258) |
|  CBOT Soybean Meal Futures<sup>A</sup> | 48 | July 2026 | 1542761 | 1508640 | (34121) |
|  CBOT Soybean Oil Futures<sup>A</sup> | 585 | May 2026 | 20449569 | 24176880 | 3727311 |
|  CBOT Soybean Oil Futures<sup>A</sup> | 15 | July 2026 | 608806 | 619920 | 11114 |
|  CBOT Wheat Futures<sup>A</sup> | 455 | May 2026 | 13504070 | 14019687 | 515617 |
|  CBOT Wheat Futures<sup>A</sup> | 73 | July 2026 | 2260493 | 2286725 | 26232 |
|  CME Lean Hogs Futures<sup>A</sup> | 94 | June 2026 | 4088683 | 3949880 | (138803) |
|  COMEX Copper Futures<sup>A</sup> | 55 | May 2026 | 8126872 | 7719250 | (407622) |
|  COMEX Gold 100 Troy Ounces Futures<sup>A</sup> | 18 | June 2026 | 7675890 | 8421480 | 745590 |
|  COMEX Silver Futures<sup>A</sup> | 16 | May 2026 | 6782008 | 5993520 | (788488) |
|  Euronext Milling Wheat Futures<sup>A</sup> | 593 | May 2026 | 7097500 | 7016979 | (80521) |
|  Euronext Rapeseed Futures<sup>A</sup> | 290 | April 2026 | 8215738 | 8618742 | 403004 |
|  ICE Brent Crude Oil Futures<sup>A</sup> | 174 | April 2026 | 17803506 | 18090780 | 287274 |
|  ICE Gas Oil Futures<sup>A</sup> | 119 | May 2026 | 14602943 | 14747075 | 144132 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 8 | October 2026 | 88070 | 73260 | (14810) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 8 | November 2026 | 88070 | 89440 | 1370 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 8 | December 2026 | 88070 | 98760 | 10690 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 8 | January 2027 | 88070 | 87940 | (130) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 8 | February 2027 | 88070 | 69940 | (18130) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | December 2027 | 456920 | 607560 | 150640 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | January 2028 | 456920 | 527040 | 70120 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | February 2028 | 456920 | 421200 | (35720) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | March 2028 | 456920 | 380760 | (76160) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | April 2028 | 456920 | 379080 | (77840) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | May 2028 | 456920 | 397440 | (59480) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Long Futures Contracts Open on March 31, 2026 (continued):***

**Commodity Futures Contracts (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | June 2028 | $456920 | $422640 | $(34280) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | July 2028 | 456920 | 429840 | (27080) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | August 2028 | 456920 | 427680 | (29240) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | September 2028 | 456920 | 436080 | (20840) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | October 2028 | 456920 | 465360 | 8440 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 48 | November 2028 | 456920 | 538440 | 81520 |
|  KCBT Hard Red Winter Wheat Futures<sup>A</sup> | 327 | May 2026 | 9868462 | 10390425 | 521963 |
|  KCBT Hard Red Winter Wheat Futures<sup>A</sup> | 45 | July 2026 | 1449815 | 1459687 | 9872 |
|  LME Copper Futures<sup>A</sup> | 31 | May 2026 | 9875836 | 9541443 | (334393) |
|  LME Nickel Futures<sup>A</sup> | 34 | April 2026 | 3671488 | 3457435 | (214053) |
|  LME Nickel Futures<sup>A</sup> | 34 | May 2026 | 3510161 | 3473498 | (36663) |
|  LME Primary Aluminum Futures<sup>A</sup> | 599 | April 2026 | 46236258 | 52733115 | 6496857 |
|  LME Primary Aluminum Futures<sup>A</sup> | 168 | May 2026 | 13635419 | 14716968 | 1081549 |
|  LME Zinc Futures<sup>A</sup> | 41 | April 2026 | 3403264 | 3308854 | (94410) |
|  LME Zinc Futures<sup>A</sup> | 137 | May 2026 | 11213830 | 11100220 | (113610) |
|  MDE Crude Palm Oil Futures<sup>A</sup> | 291 | June 2026 | 8271748 | 8674660 | 402912 |
|  MIAX Futures Onyx Hard Red Spring Wheat Futures<sup>A</sup> | 158 | May 2026 | 5053919 | 5202150 | 148231 |
|  MIAX Futures Onyx Hard Red Spring Wheat Futures<sup>A</sup> | 45 | July 2026 | 1488891 | 1513687 | 24796 |
|  NYBOT CSC Number 11 World Sugar Futures<sup>A</sup> | 289 | June 2026 | 5129562 | 5075302 | (54260) |
|  NYMEX Light Sweet Crude Oil Futures<sup>A</sup> | 173 | April 2026 | 15058947 | 17538740 | 2479793 |
|  NYMEX NY Harbor ULSD Futures<sup>A</sup> | 98 | April 2026 | 15657267 | 16932401 | 1275134 |
|  NYMEX Platinum Futures<sup>A</sup> | 39 | July 2026 | 3534885 | 3841890 | 307005 |
|  NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Futures<sup>A</sup> | 178 | April 2026 | 22708306 | 23952356 | 1244050 |
|  WCE Canola Futures<sup>A</sup> | 750 | May 2026 | 7562892 | 7890878 | 327986 |
|  |  |  | $398695854 | $416148760 | $17452906 |

---

**Currency Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CME Australian Dollar Currency Futures | 1051 | June 2026 | $73954147 | $72335075 | $(1619072) |
|  CME British Pound Currency Futures | 37 | June 2026 | 3098324 | 3058513 | (39811) |
|  CME Mexican Peso Currency Futures | 3527 | June 2026 | 99271734 | 97627360 | (1644374) |
|  NYBOT FINEX United States Dollar Index Futures | 329 | June 2026 | 32680384 | 32820711 | 140327 |
|  |  |  | $209004589 | $205841659 | $(3162930) |

---

**Equity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Borsa Italiana FTSE/MIB Index Futures | 11 | June 2026 | $2820693 | $2770203 | $(50490) |
|  CME E-Mini Russell 2000 Index Futures | 58 | June 2026 | 7241090 | 7285380 | 44290 |
|  ICE FTSE 100 Index Futures | 56 | June 2026 | 7705540 | 7559664 | (145876) |
|  ICE U.S. Mini MSCI EAFE Index Futures | 113 | June 2026 | 16562150 | 16391215 | (170935) |
|  ICE U.S. MSCI Emerging Markets Index Futures | 193 | June 2026 | 14408658 | 14036890 | (371768) |
|  KFE KOSPI 200 Index Futures | 58 | June 2026 | 8017030 | 7093086 | (923944) |
|  Montreal Exchange S&P/TSX 60 Index Futures | 76 | June 2026 | 20858373 | 20845777 | (12596) |
|  OML Stockholm OMXS30 Index Futures | 471 | April 2026 | 14925016 | 14528054 | (396962) |
|  SAFEX FTSE/JSE Top 40 Index Futures | 53 | June 2026 | 3445106 | 3347837 | (97269) |
|  SGX FTSE Taiwan Index Futures | 148 | April 2026 | 16073627 | 15291360 | (782267) |
|  SGX MSCI Singapore Index Futures | 43 | April 2026 | 1460578 | 1460201 | (377) |
|  SGX Nikkei 225 Stock Index Futures | 42 | June 2026 | 7231391 | 6792035 | (439356) |
|  TSE TOPIX Futures | 55 | June 2026 | 12712724 | 12143285 | (569439) |
|  |  |  | $133461976 | $129544987 | $(3916989) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Short Futures Contracts Open on March 31, 2026:***

**Commodity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  ICE Cocoa Futures<sup>A</sup> | 98 | May 2026 | $(3637239) | $(3225958) | $411281 |
|  ICE Cocoa Futures<sup>A</sup> | 2 | July 2026 | (65013) | (66498) | (1485) |
|  ICE Robusta Coffee Futures 10-Tonne<sup>A</sup> | 171 | May 2026 | (6385993) | (5973030) | 412963 |
|  ICE Robusta Coffee Futures 10-Tonne<sup>A</sup> | 8 | July 2026 | (273090) | (272400) | 690 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | March 2027 | (204370) | (191940) | 12430 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | April 2027 | (204370) | (190560) | 13810 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | May 2027 | (204370) | (198720) | 5650 |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | June 2027 | (204370) | (210780) | (6410) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | July 2027 | (204370) | (214020) | (9650) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | August 2027 | (204370) | (212640) | (8270) |
|  ICE U.S. - Henry Ld1 Fixed Price Futures<sup>A</sup> | 24 | September 2027 | (204370) | (217560) | (13190) |
|  LME Lead Futures<sup>A</sup> | 100 | April 2026 | (5057200) | (4689625) | 367575 |
|  LME Lead Futures<sup>A</sup> | 120 | May 2026 | (5868637) | (5653500) | 215137 |
|  LME Nickel Futures<sup>A</sup> | 34 | April 2026 | (3493364) | (3457435) | 35929 |
|  LME Primary Aluminum Futures<sup>A</sup> | 340 | April 2026 | (27540373) | (29931985) | (2391612) |
|  LME Zinc Futures<sup>A</sup> | 41 | April 2026 | (3219509) | (3308854) | (89345) |
|  LME Zinc Futures<sup>A</sup> | 100 | May 2026 | (7742784) | (8102350) | (359566) |
|  NYBOT CSC C Coffee Futures<sup>A</sup> | 165 | May 2026 | (17769113) | (18460406) | (691293) |
|  NYBOT CSC C Coffee Futures<sup>A</sup> | 4 | July 2026 | (449766) | (436200) | 13566 |
|  NYBOT CSC Cocoa Futures<sup>A</sup> | 195 | May 2026 | (8022576) | (6435000) | 1587576 |
|  NYBOT CSC Cocoa Futures<sup>A</sup> | 14 | July 2026 | (457277) | (471380) | (14103) |
|  NYBOT CTN Number 2 Cotton Futures<sup>A</sup> | 25 | May 2026 | (799114) | (875000) | (75886) |
|  NYBOT CTN Number 2 Cotton Futures<sup>A</sup> | 1 | July 2026 | (34628) | (36065) | (1437) |
|  NYMEX Henry Hub Natural Gas Futures<sup>A</sup> | 565 | April 2026 | (17852946) | (16294600) | 1558346 |
|  NYMEX Palladium Futures<sup>A</sup> | 2 | June 2026 | (279147) | (297500) | (18353) |
|  |  |  | $(110378359) | $(109424006) | $954353 |

---

**Currency Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CME Canadian Dollar Currency Futures | 1441 | June 2026 | $(104205371) | $(103752000) | $453371 |
|  CME Euro Foreign Exchange Currency Futures | 918 | June 2026 | (133110386) | (132943613) | 166773 |
|  CME Japanese Yen Currency Futures | 4239 | June 2026 | (337857579) | (335622825) | 2234754 |
|  CME New Zealand Dollar Currency Futures | 1137 | June 2026 | (65929525) | (65411610) | 517915 |
|  CME Swiss Franc Currency Futures | 865 | June 2026 | (137885789) | (136215875) | 1669914 |
|  |  |  | $(778988650) | $(773945923) | $5042727 |

---

**Equity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CME E-Mini NASDAQ 100 Index Futures | 8 | June 2026 | $(3763507) | $(3826400) | $(62893) |
|  CME E-Mini Standard & Poor's 500 Index Futures | 9 | June 2026 | (2904885) | (2956837) | (51952) |
|  Eurex DAX Index Futures | 11 | June 2026 | (7244155) | (7258942) | (14787) |
|  Eurex EURO STOXX 50 Futures | 5 | June 2026 | (318815) | (317570) | 1245 |
|  Euronext CAC 40 Index Futures | 82 | April 2026 | (7338453) | (7416513) | (78060) |
|  HKG Hang Seng China Enterprises Index Futures | 208 | April 2026 | (11195036) | (11084120) | 110916 |
|  HKG Hang Seng Index Futures | 28 | April 2026 | (4438992) | (4419859) | 19133 |
|  NSE IFSC NIFTY 50 Index Futures | 518 | April 2026 | (23966669) | (23290834) | 675835 |
|  SFE S&P ASX Share Price Index 200 Futures | 51 | June 2026 | (7450643) | (7488771) | (38128) |
|  SGX FTSE China A50 Futures Contract | 39 | April 2026 | (566006) | (566904) | (898) |
|  |  |  | $(69187161) | $(68626750) | $560411 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Short Futures Contracts Open on March 31, 2026 (continued):***

**Interest Rate Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  3-Month CORRA Futures | 39 | March 2027 | $(6804767) | $(6816449) | $(11682) |
|  3-Month CORRA Futures | 46 | September 2027 | (8012528) | (8025034) | (12506) |
|  3 Month Euro Euribor Futures | 1044 | June 2027 | (294006932) | (293139451) | 867481 |
|  3 Month Euro Euribor Futures | 996 | March 2028 | (280282610) | (280021533) | 261077 |
|  3 Month Euro Euribor Futures | 931 | December 2028 | (261769178) | (261625975) | 143203 |
|  CBOT 2 Year U.S. Treasury Notes Futures | 1430 | June 2026 | (298081381) | (296646796) | 1434585 |
|  CBOT 5 Year U.S. Treasury Notes Futures | 806 | June 2026 | (87304188) | (87192829) | 111359 |
|  CBOT 10 Year U.S. Treasury Notes Futures | 447 | June 2026 | (49626409) | (49637953) | (11544) |
|  CBOT U.S. Long Bond Futures | 115 | June 2026 | (12962256) | (13095625) | (133369) |
|  CBOT Ultra Long Term U.S. Treasury Bond Futures. | 177 | June 2026 | (20601426) | (20631562) | (30136) |
|  Eurex 2 Year Euro SCHATZ Futures | 2350 | June 2026 | (289647025) | (287243228) | 2403797 |
|  Eurex 5 Year Euro BOBL Futures | 780 | June 2026 | (104652242) | (104067437) | 584805 |
|  Eurex 10 Year Euro BUND Futures | 421 | June 2026 | (61318644) | (61016397) | 302247 |
|  Eurex 30 Year Euro BUXL Futures | 280 | June 2026 | (35588838) | (35684333) | (95495) |
|  Eurex Euro-BTP Italian Bond Futures | 458 | June 2026 | (56152663) | (56034809) | 117854 |
|  Eurex Euro-BTP Italian Bond Futures | 230 | June 2026 | (31069738) | (30912521) | 157217 |
|  French Government Bond Futures | 227 | June 2026 | (31194149) | (31141645) | 52504 |
|  ICE Long Gilt Futures | 170 | June 2026 | (19871181) | (19753810) | 117371 |
|  KFE 3 Year Treasury Bond Futures | 1062 | June 2026 | (72179003) | (71777652) | 401351 |
|  KFE 10 Year Treasury Bond Futures | 569 | June 2026 | (40915995) | (40344335) | 571660 |
|  Montreal Exchange 10 Year Canadian Bond Futures | 449 | June 2026 | (38618637) | (38735166) | (116529) |
|  SFE 3 Year Australian Bond Futures | 3809 | June 2026 | (273466279) | (272407177) | 1059102 |
|  SFE 10 Year Australian Bond Futures | 1225 | June 2026 | (91373589) | (91072307) | 301282 |
|  Three-Month SOFR Futures | 1752 | September 2027 | (423398062) | (422429100) | 968962 |
|  Three-Month SOFR Futures | 935 | June 2028 | (225668148) | (225790813) | (122665) |
|  Three-Month SOFR Futures | 708 | March 2029 | (170679757) | (170805000) | (125243) |
|  Three Month SONIA Index Futures | 769 | September 2027 | (244274770) | (243507591) | 767179 |
|  Three Month SONIA Index Futures | 797 | June 2028 | (253122749) | (252888195) | 234554 |
|  TSE Japanese 10 Year Bond Futures | 240 | June 2026 | (198714794) | (197059954) | 1654840 |
|  |  |  | $(3981357938) | $(3969504677) | $11853261 |

---

<sup>A</sup> *All or a portion represents positions held by the American Beacon Cayman Managed Futures Strategy Fund, Ltd.*

***Forward Foreign Currency Contracts Open on March 31, 2026:***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| EUR | 14651998 | USD | 14664610 | 4/16/2026 | BNP | $— | $(12612) | $(12612) |
| USD | 14964007 | EUR | 15002445 | 4/16/2026 | BNP |  | (38438) | (38438) |
| USD | 14987049 | INR | 14532759 | 4/17/2026 | BNP | 454290 |  | 454290 |
| USD | 44688893 | INR | 42808454 | 4/17/2026 | BNP | 1880439 |  | 1880439 |
| USD | 2495446 | INR | 2419634 | 4/27/2026 | BNP | 75812 |  | 75812 |
| USD | 3125539 | INR | 3050843 | 4/27/2026 | BNP | 74696 |  | 74696 |
| USD | 3529037 | INR | 3419047 | 4/27/2026 | BNP | 109990 |  | 109990 |
| USD | 7043902 | INR | 6995898 | 4/27/2026 | BNP | 48004 |  | 48004 |
| USD | 376279 | PHP | 369932 | 4/29/2026 | BNP | 6347 |  | 6347 |
| USD | 534197 | PHP | 534345 | 4/29/2026 | BNP |  | (148) | (148) |
| USD | 538897 | PHP | 534345 | 4/29/2026 | BNP | 4552 |  | 4552 |
| USD | 543918 | PHP | 534345 | 4/29/2026 | BNP | 9573 |  | 9573 |
| USD | 548119 | PHP | 534345 | 4/29/2026 | BNP | 13774 |  | 13774 |
| USD | 550649 | PHP | 534346 | 4/29/2026 | BNP | 16303 |  | 16303 |
| USD | 551071 | PHP | 534345 | 4/29/2026 | BNP | 16726 |  | 16726 |
| USD | 577969 | PHP | 575449 | 4/29/2026 | BNP | 2520 |  | 2520 |
| USD | 580147 | PHP | 575448 | 4/29/2026 | BNP | 4699 |  | 4699 |
| USD | 582952 | PHP | 575448 | 4/29/2026 | BNP | 7504 |  | 7504 |
| USD | 583833 | PHP | 575448 | 4/29/2026 | BNP | 8385 |  | 8385 |
| USD | 585775 | PHP | 575449 | 4/29/2026 | BNP | 10326 |  | 10326 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 589783 | PHP | 575449 | 4/29/2026 | BNP | $14334 | $— | $14334 |
| USD | 620128 | PHP | 616552 | 4/29/2026 | BNP | 3576 |  | 3576 |
| USD | 627713 | PHP | 616552 | 4/29/2026 | BNP | 11161 |  | 11161 |
| USD | 664209 | PHP | 657656 | 4/29/2026 | BNP | 6553 |  | 6553 |
| USD | 703137 | PHP | 698759 | 4/29/2026 | BNP | 4378 |  | 4378 |
| USD | 711834 | PHP | 698759 | 4/29/2026 | BNP | 13075 |  | 13075 |
| USD | 747465 | PHP | 739863 | 4/29/2026 | BNP | 7602 |  | 7602 |
| USD | 841751 | PHP | 822070 | 4/29/2026 | BNP | 19681 |  | 19681 |
| USD | 924183 | PHP | 904276 | 4/29/2026 | BNP | 19907 |  | 19907 |
| PHP | 616552 | USD | 649283 | 4/29/2026 | BNP |  | (32731) | (32731) |
| PHP | 616552 | USD | 650589 | 4/29/2026 | BNP |  | (34037) | (34037) |
| PHP | 616552 | USD | 650725 | 4/29/2026 | BNP |  | (34173) | (34173) |
| USD | 532940 | PHP | 533573 | 6/1/2026 | BNP |  | (633) | (633) |
| USD | 627313 | TWD | 625586 | 4/1/2026 | CBK | 1727 |  | 1727 |
| USD | 630418 | TWD | 625587 | 4/1/2026 | CBK | 4831 |  | 4831 |
| USD | 630855 | TWD | 625586 | 4/1/2026 | CBK | 5269 |  | 5269 |
| USD | 636375 | TWD | 625586 | 4/1/2026 | CBK | 10789 |  | 10789 |
| USD | 716241 | TWD | 703785 | 4/1/2026 | CBK | 12456 |  | 12456 |
| USD | 787114 | TWD | 781983 | 4/1/2026 | CBK | 5131 |  | 5131 |
| USD | 841771 | SEK | 845072 | 4/1/2026 | CBK |  | (3301) | (3301) |
| USD | 866415 | TWD | 860182 | 4/1/2026 | CBK | 6233 |  | 6233 |
| USD | 871795 | NOK | 877836 | 4/1/2026 | CBK |  | (6041) | (6041) |
| USD | 875044 | TWD | 860182 | 4/1/2026 | CBK | 14862 |  | 14862 |
| USD | 893949 | SEK | 897889 | 4/1/2026 | CBK |  | (3940) | (3940) |
| USD | 951676 | SEK | 950706 | 4/1/2026 | CBK | 970 |  | 970 |
| USD | 999572 | SEK | 1003523 | 4/1/2026 | CBK |  | (3951) | (3951) |
| USD | 1009474 | SGD | 1011123 | 4/1/2026 | CBK |  | (1649) | (1649) |
| USD | 1009748 | SGD | 1011122 | 4/1/2026 | CBK |  | (1374) | (1374) |
| USD | 1024311 | TWD | 1016578 | 4/1/2026 | CBK | 7733 |  | 7733 |
| USD | 1035106 | TWD | 1016578 | 4/1/2026 | CBK | 18528 |  | 18528 |
| USD | 1085499 | SGD | 1088901 | 4/1/2026 | CBK |  | (3402) | (3402) |
| USD | 1113345 | TWD | 1094776 | 4/1/2026 | CBK | 18569 |  | 18569 |
| USD | 1328202 | NOK | 1342573 | 4/1/2026 | CBK |  | (14371) | (14371) |
| USD | 1489217 | NOK | 1497485 | 4/1/2026 | CBK |  | (8268) | (8268) |
| USD | 1529680 | NOK | 1549122 | 4/1/2026 | CBK |  | (19442) | (19442) |
| USD | 1549331 | SGD | 1555573 | 4/1/2026 | CBK |  | (6242) | (6242) |
| USD | 1550977 | SGD | 1555573 | 4/1/2026 | CBK |  | (4596) | (4596) |
| USD | 1551277 | SGD | 1555572 | 4/1/2026 | CBK |  | (4295) | (4295) |
| USD | 1552168 | SGD | 1555572 | 4/1/2026 | CBK |  | (3404) | (3404) |
| USD | 1628197 | SGD | 1633351 | 4/1/2026 | CBK |  | (5154) | (5154) |
| USD | 1629108 | SGD | 1633352 | 4/1/2026 | CBK |  | (4244) | (4244) |
| USD | 1707504 | SGD | 1711130 | 4/1/2026 | CBK |  | (3626) | (3626) |
| USD | 1708658 | SGD | 1711130 | 4/1/2026 | CBK |  | (2472) | (2472) |
| USD | 1747291 | TWD | 1720363 | 4/1/2026 | CBK | 26928 |  | 26928 |
| USD | 1783513 | SGD | 1788909 | 4/1/2026 | CBK |  | (5396) | (5396) |
| USD | 1858736 | SGD | 1866687 | 4/1/2026 | CBK |  | (7951) | (7951) |
| USD | 1938796 | SGD | 1944466 | 4/1/2026 | CBK |  | (5670) | (5670) |
| USD | 3969842 | TWD | 3909916 | 4/1/2026 | CBK | 59926 |  | 59926 |
| TWD | 625586 | USD | 632594 | 4/1/2026 | CBK |  | (7008) | (7008) |
| SGD | 21622462 | USD | 21549400 | 4/1/2026 | CBK | 73062 |  | 73062 |
| USD | 29140382 | TWD | 28855176 | 4/1/2026 | CBK | 285206 |  | 285206 |
| TWD | 1016578 | USD | 1028104 | 4/1/2026 | CBK |  | (11526) | (11526) |
| TWD | 1016578 | USD | 1029299 | 4/1/2026 | CBK |  | (12721) | (12721) |
| SEK | 3697190 | USD | 3657592 | 4/1/2026 | CBK | 39598 |  | 39598 |
| TWD | 1329371 | USD | 1346110 | 4/1/2026 | CBK |  | (16739) | (16739) |
| NOK | 5267017 | USD | 5219045 | 4/1/2026 | CBK | 47972 |  | 47972 |
| TWD | 2111354 | USD | 2136797 | 4/1/2026 | CBK |  | (25443) | (25443) |
| TWD | 37222396 | USD | 37315890 | 4/1/2026 | CBK |  | (93494) | (93494) |
| GBP | 926520 | JPY | 931169 | 4/2/2026 | CBK |  | (4649) | (4649) |
| USD | 836665 | SEK | 845072 | 4/2/2026 | CBK |  | (8407) | (8407) |
| USD | 994578 | SEK | 1003523 | 4/2/2026 | CBK |  | (8945) | (8945) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 1051291 | SEK | 1056339 | 4/2/2026 CBK | $— | $(5048) | $(5048) |
| USD | 1468161 | SEK | 1478876 | 4/2/2026 CBK |  | (10715) | (10715) |
| USD | 1476152 | SGD | 1477794 | 4/2/2026 CBK |  | (1642) | (1642) |
| USD | 1626684 | SGD | 1633352 | 4/2/2026 CBK |  | (6668) | (6668) |
| USD | 1627213 | SGD | 1633351 | 4/2/2026 CBK |  | (6138) | (6138) |
| USD | 1627844 | SGD | 1633352 | 4/2/2026 CBK |  | (5508) | (5508) |
| USD | 1703340 | SGD | 1711130 | 4/2/2026 CBK |  | (7790) | (7790) |
| USD | 1781399 | SGD | 1788909 | 4/2/2026 CBK |  | (7510) | (7510) |
| USD | 1781427 | SGD | 1788909 | 4/2/2026 CBK |  | (7482) | (7482) |
| USD | 1781537 | SGD | 1788909 | 4/2/2026 CBK |  | (7372) | (7372) |
| USD | 1782517 | SGD | 1788908 | 4/2/2026 CBK |  | (6391) | (6391) |
| USD | 1859355 | SGD | 1866687 | 4/2/2026 CBK |  | (7332) | (7332) |
| USD | 1859615 | SGD | 1866688 | 4/2/2026 CBK |  | (7073) | (7073) |
| USD | 1933937 | SGD | 1944466 | 4/2/2026 CBK |  | (10529) | (10529) |
| USD | 2014879 | SGD | 2022245 | 4/2/2026 CBK |  | (7366) | (7366) |
| USD | 2093137 | SGD | 2100023 | 4/2/2026 CBK |  | (6886) | (6886) |
| USD | 4656216 | SGD | 4666718 | 4/2/2026 CBK |  | (10502) | (10502) |
| USD | 1019994 | NOK | 1032748 | 4/7/2026 CBK |  | (12754) | (12754) |
| NOK | 1187661 | USD | 1179016 | 4/7/2026 CBK | 8645 |  | 8645 |
| USD | 934159 | NOK | 929473 | 4/9/2026 CBK | 4686 |  | 4686 |
| USD | 1046341 | NOK | 1032747 | 4/9/2026 CBK | 13594 |  | 13594 |
| USD | 1405514 | NOK | 1394208 | 4/9/2026 CBK | 11306 |  | 11306 |
| USD | 1477197 | NOK | 1445845 | 4/9/2026 CBK | 31352 |  | 31352 |
| USD | 1762061 | NOK | 1755670 | 4/9/2026 CBK | 6391 |  | 6391 |
| USD | 2442707 | THB | 2351121 | 4/9/2026 CBK | 91586 |  | 91586 |
| USD | 2459786 | THB | 2351120 | 4/9/2026 CBK | 108666 |  | 108666 |
| USD | 3098383 | NOK | 3098241 | 4/9/2026 CBK | 142 |  | 142 |
| USD | 4121809 | NOK | 4079351 | 4/9/2026 CBK | 42458 |  | 42458 |
| USD | 4504096 | NOK | 4492449 | 4/9/2026 CBK | 11647 |  | 11647 |
| USD | 4553726 | NOK | 4544086 | 4/9/2026 CBK | 9640 |  | 9640 |
| USD | 5218972 | NOK | 5267009 | 4/9/2026 CBK |  | (48037) | (48037) |
| USD | 6128076 | NOK | 6144844 | 4/9/2026 CBK |  | (16768) | (16768) |
| NOK | 877835 | USD | 884942 | 4/9/2026 CBK |  | (7107) | (7107) |
| NOK | 929472 | USD | 945165 | 4/9/2026 CBK |  | (15693) | (15693) |
| USD | 11604874 | NOK | 11670041 | 4/9/2026 CBK |  | (65167) | (65167) |
| NOK | 1704032 | USD | 1705359 | 4/9/2026 CBK |  | (1327) | (1327) |
| NOK | 1858945 | USD | 1880479 | 4/9/2026 CBK |  | (21534) | (21534) |
| NOK | 1858945 | USD | 1884770 | 4/9/2026 CBK |  | (25825) | (25825) |
| NOK | 1910582 | USD | 1930967 | 4/9/2026 CBK |  | (20385) | (20385) |
| NOK | 2272043 | USD | 2304722 | 4/9/2026 CBK |  | (32679) | (32679) |
| NOK | 2323681 | USD | 2371078 | 4/9/2026 CBK |  | (47397) | (47397) |
| NOK | 2375318 | USD | 2317252 | 4/9/2026 CBK | 58066 |  | 58066 |
| NOK | 2685142 | USD | 2736281 | 4/9/2026 CBK |  | (51139) | (51139) |
| NOK | 4389175 | USD | 4455397 | 4/9/2026 CBK |  | (66222) | (66222) |
| NOK | 6816130 | USD | 6871887 | 4/9/2026 CBK |  | (55757) | (55757) |
| NOK | 7952152 | USD | 7805975 | 4/9/2026 CBK | 146177 |  | 146177 |
| THB | 2351121 | USD | 2498139 | 4/9/2026 CBK |  | (147018) | (147018) |
| THB | 2351121 | USD | 2502721 | 4/9/2026 CBK |  | (151600) | (151600) |
| NOK | 8520162 | USD | 8435925 | 4/9/2026 CBK | 84237 |  | 84237 |
| NOK | 10947118 | USD | 10866473 | 4/9/2026 CBK | 80645 |  | 80645 |
| NOK | 11773315 | USD | 11694105 | 4/9/2026 CBK | 79210 |  | 79210 |
| NOK | 26851421 | USD | 26022815 | 4/9/2026 CBK | 828606 |  | 828606 |
| NOK | 28762003 | USD | 27880843 | 4/9/2026 CBK | 881160 |  | 881160 |
| USD | 718 | SEK | 707 | 4/16/2026 CBK | 11 |  | 11 |
| USD | 1890 | SEK | 1853 | 4/16/2026 CBK | 37 |  | 37 |
| USD | 2532 | SEK | 2487 | 4/16/2026 CBK | 45 |  | 45 |
| USD | 5039 | SEK | 4980 | 4/16/2026 CBK | 59 |  | 59 |
| USD | 7049 | SEK | 6950 | 4/16/2026 CBK | 99 |  | 99 |
| SEK | 1362 | USD | 1356 | 4/16/2026 CBK | 6 |  | 6 |
| USD | 16507 | SEK | 16373 | 4/16/2026 CBK | 134 |  | 134 |
| SEK | 1929 | USD | 1945 | 4/16/2026 CBK |  | (16) | (16) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| SEK | 3667 | USD | 3704 | 4/16/2026 CBK | $— | $(37) | $(37) |
| SEK | 4094 | USD | 4107 | 4/16/2026 CBK |  | (13) | (13) |
| SEK | 7615 | USD | 7609 | 4/16/2026 CBK | 6 |  | 6 |
| SEK | 7811 | USD | 7741 | 4/16/2026 CBK | 70 |  | 70 |
| USD | 1164119 | SEK | 1110657 | 4/28/2026 CBK | 53462 |  | 53462 |
| USD | 1657675 | SEK | 1639542 | 4/28/2026 CBK | 18133 |  | 18133 |
| USD | 1693141 | SEK | 1586653 | 4/28/2026 CBK | 106488 |  | 106488 |
| USD | 1919709 | SEK | 1798207 | 4/28/2026 CBK | 121502 |  | 121502 |
| USD | 1986179 | SEK | 1956872 | 4/28/2026 CBK | 29307 |  | 29307 |
| USD | 2253924 | SEK | 2221315 | 4/28/2026 CBK | 32609 |  | 32609 |
| USD | 2593672 | SEK | 2432869 | 4/28/2026 CBK | 160803 |  | 160803 |
| USD | 2653038 | SEK | 2644422 | 4/28/2026 CBK | 8616 |  | 8616 |
| USD | 2766491 | SEK | 2697311 | 4/28/2026 CBK | 69180 |  | 69180 |
| USD | 2959580 | SEK | 2803087 | 4/28/2026 CBK | 156493 |  | 156493 |
| USD | 2991061 | SEK | 2855976 | 4/28/2026 CBK | 135085 |  | 135085 |
| USD | 3071353 | SEK | 3067530 | 4/28/2026 CBK | 3823 |  | 3823 |
| USD | 3088881 | SEK | 2908865 | 4/28/2026 CBK | 180016 |  | 180016 |
| USD | 3501996 | SEK | 3331972 | 4/28/2026 CBK | 170024 |  | 170024 |
| USD | 3662618 | SEK | 3702190 | 4/28/2026 CBK |  | (39572) | (39572) |
| USD | 4046134 | SEK | 4019522 | 4/28/2026 CBK | 26612 |  | 26612 |
| USD | 4275526 | SEK | 4178187 | 4/28/2026 CBK | 97339 |  | 97339 |
| USD | 4318796 | SEK | 4283963 | 4/28/2026 CBK | 34833 |  | 34833 |
| USD | 4453115 | SEK | 4283964 | 4/28/2026 CBK | 169151 |  | 169151 |
| USD | 4901701 | SEK | 4759960 | 4/28/2026 CBK | 141741 |  | 141741 |
| USD | 8159026 | SEK | 7880378 | 4/28/2026 CBK | 278648 |  | 278648 |
| USD | 8473633 | SEK | 8303485 | 4/28/2026 CBK | 170148 |  | 170148 |
| USD | 9004711 | SEK | 8938147 | 4/28/2026 CBK | 66564 |  | 66564 |
| USD | 9657601 | SEK | 9467031 | 4/28/2026 CBK | 190570 |  | 190570 |
| USD | 10609322 | SEK | 10313246 | 4/28/2026 CBK | 296076 |  | 296076 |
| SEK | 1163546 | USD | 1222982 | 4/28/2026 CBK |  | (59436) | (59436) |
| SEK | 1163546 | USD | 1245228 | 4/28/2026 CBK |  | (81682) | (81682) |
| USD | 11409609 | SEK | 11265238 | 4/28/2026 CBK | 144371 |  | 144371 |
| USD | 11450382 | SEK | 11106573 | 4/28/2026 CBK | 343809 |  | 343809 |
| USD | 13856764 | SEK | 13010556 | 4/28/2026 CBK | 846208 |  | 846208 |
| USD | 14470559 | SEK | 14438545 | 4/28/2026 CBK | 32014 |  | 32014 |
| SEK | 1798207 | USD | 1915500 | 4/28/2026 CBK |  | (117293) | (117293) |
| SEK | 2115538 | USD | 2229184 | 4/28/2026 CBK |  | (113646) | (113646) |
| USD | 20716258 | SEK | 20203385 | 4/28/2026 CBK | 512873 |  | 512873 |
| SEK | 2538645 | USD | 2737063 | 4/28/2026 CBK |  | (198418) | (198418) |
| SEK | 4759959 | USD | 4978022 | 4/28/2026 CBK |  | (218063) | (218063) |
| SEK | 8303485 | USD | 8917122 | 4/28/2026 CBK |  | (613637) | (613637) |
| SEK | 48128479 | USD | 50360039 | 4/28/2026 CBK |  | (2231560) | (2231560) |
| SEK | 61879473 | USD | 66344638 | 4/28/2026 CBK |  | (4465165) | (4465165) |
| USD | 1257040 | SGD | 1247919 | 5/11/2026 CBK | 9121 |  | 9121 |
| USD | 3465729 | SGD | 3431777 | 5/11/2026 CBK | 33952 |  | 33952 |
| USD | 4814082 | SGD | 4757692 | 5/11/2026 CBK | 56390 |  | 56390 |
| USD | 5791947 | SGD | 5771626 | 5/11/2026 CBK | 20321 |  | 20321 |
| USD | 6103153 | SGD | 6083606 | 5/11/2026 CBK | 19547 |  | 19547 |
| USD | 6674949 | SGD | 6629570 | 5/11/2026 CBK | 45379 |  | 45379 |
| USD | 6803248 | SGD | 6785560 | 5/11/2026 CBK | 17688 |  | 17688 |
| USD | 8036702 | SGD | 8033479 | 5/11/2026 CBK | 3223 |  | 3223 |
| USD | 8397413 | SGD | 8345459 | 5/11/2026 CBK | 51954 |  | 51954 |
| USD | 8571022 | SGD | 8501449 | 5/11/2026 CBK | 69573 |  | 69573 |
| USD | 9951184 | SGD | 9905357 | 5/11/2026 CBK | 45827 |  | 45827 |
| USD | 10293434 | SGD | 10217338 | 5/11/2026 CBK | 76096 |  | 76096 |
| USD | 11752116 | SGD | 11777236 | 5/11/2026 CBK |  | (25120) | (25120) |
| USD | 12087267 | SGD | 12011221 | 5/11/2026 CBK | 76046 |  | 76046 |
| USD | 14261199 | SGD | 14117085 | 5/11/2026 CBK | 144114 |  | 144114 |
| USD | 21609747 | SGD | 21682594 | 5/11/2026 CBK |  | (72847) | (72847) |
| USD | 622367 | TWD | 627338 | 5/12/2026 CBK |  | (4971) | (4971) |
| USD | 629334 | TWD | 627337 | 5/12/2026 CBK | 1997 |  | 1997 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 702357 | TWD | 705755 | 5/12/2026 CBK | $— | $(3398) | $(3398) |
| USD | 703180 | TWD | 705755 | 5/12/2026 CBK |  | (2575) | (2575) |
| USD | 703598 | TWD | 705755 | 5/12/2026 CBK |  | (2157) | (2157) |
| USD | 703765 | TWD | 705755 | 5/12/2026 CBK |  | (1990) | (1990) |
| USD | 706604 | TWD | 705755 | 5/12/2026 CBK | 849 |  | 849 |
| USD | 709399 | TWD | 705755 | 5/12/2026 CBK | 3644 |  | 3644 |
| USD | 783411 | TWD | 784172 | 5/12/2026 CBK |  | (761) | (761) |
| USD | 856452 | TWD | 862589 | 5/12/2026 CBK |  | (6137) | (6137) |
| USD | 866174 | TWD | 862589 | 5/12/2026 CBK | 3585 |  | 3585 |
| USD | 940917 | TWD | 941007 | 5/12/2026 CBK |  | (90) | (90) |
| USD | 5019695 | TWD | 5018701 | 5/12/2026 CBK | 994 |  | 994 |
| USD | 78936 | THB | 76057 | 5/15/2026 CBK | 2879 |  | 2879 |
| USD | 2348250 | THB | 2357791 | 5/15/2026 CBK |  | (9541) | (9541) |
| USD | 2362553 | THB | 2357791 | 5/15/2026 CBK | 4762 |  | 4762 |
| USD | 2460763 | THB | 2357791 | 5/15/2026 CBK | 102972 |  | 102972 |
| USD | 2471783 | THB | 2433849 | 5/15/2026 CBK | 37934 |  | 37934 |
| USD | 2553784 | THB | 2509906 | 5/15/2026 CBK | 43878 |  | 43878 |
| USD | 2555968 | THB | 2509907 | 5/15/2026 CBK | 46061 |  | 46061 |
| USD | 2649147 | THB | 2585964 | 5/15/2026 CBK | 63183 |  | 63183 |
| THB | 10952319 | USD | 11493702 | 5/15/2026 CBK |  | (541383) | (541383) |
| USD | 37298346 | TWD | 37346787 | 5/20/2026 CBK |  | (48441) | (48441) |
| GBP | 529379 | JPY | 527516 | 5/27/2026 CBK | 1863 |  | 1863 |
| GBP | 529379 | JPY | 527947 | 5/27/2026 CBK | 1432 |  | 1432 |
| GBP | 529379 | JPY | 530951 | 5/27/2026 CBK |  | (1572) | (1572) |
| GBP | 529379 | JPY | 531753 | 5/27/2026 CBK |  | (2374) | (2374) |
| GBP | 529379 | JPY | 532436 | 5/27/2026 CBK |  | (3057) | (3057) |
| GBP | 529379 | JPY | 534372 | 5/27/2026 CBK |  | (4993) | (4993) |
| GBP | 529379 | JPY | 534550 | 5/27/2026 CBK |  | (5171) | (5171) |
| GBP | 529379 | JPY | 536535 | 5/27/2026 CBK |  | (7156) | (7156) |
| GBP | 529379 | JPY | 536564 | 5/27/2026 CBK |  | (7185) | (7185) |
| GBP | 595551 | JPY | 600994 | 5/27/2026 CBK |  | (5443) | (5443) |
| GBP | 595551 | JPY | 603136 | 5/27/2026 CBK |  | (7585) | (7585) |
| GBP | 794068 | JPY | 802869 | 5/27/2026 CBK |  | (8801) | (8801) |
| GBP | 1058757 | JPY | 1057840 | 5/27/2026 CBK | 917 |  | 917 |
| GBP | 1124929 | JPY | 1123581 | 5/27/2026 CBK | 1348 |  | 1348 |
| GBP | 1323446 | JPY | 1329349 | 5/27/2026 CBK |  | (5903) | (5903) |
| GBP | 1720480 | JPY | 1742680 | 5/27/2026 CBK |  | (22200) | (22200) |
| GBP | 2249859 | JPY | 2266262 | 5/27/2026 CBK |  | (16403) | (16403) |
| CAD | 1475883 | EUR | 1506455 | 5/27/2026 CBK |  | (30572) | (30572) |
| CAD | 1481159 | EUR | 1506455 | 5/27/2026 CBK |  | (25296) | (25296) |
| CAD | 1499897 | EUR | 1506454 | 5/27/2026 CBK |  | (6557) | (6557) |
| CAD | 1513358 | EUR | 1506455 | 5/27/2026 CBK | 6903 |  | 6903 |
| CAD | 1514619 | EUR | 1506455 | 5/27/2026 CBK | 8164 |  | 8164 |
| CAD | 1515659 | EUR | 1506455 | 5/27/2026 CBK | 9204 |  | 9204 |
| CAD | 1580890 | EUR | 1622336 | 5/27/2026 CBK |  | (41446) | (41446) |
| CAD | 1608751 | EUR | 1622336 | 5/27/2026 CBK |  | (13585) | (13585) |
| CAD | 1624575 | EUR | 1622336 | 5/27/2026 CBK | 2239 |  | 2239 |
| CAD | 1629428 | EUR | 1622335 | 5/27/2026 CBK | 7093 |  | 7093 |
| CAD | 1630175 | EUR | 1622336 | 5/27/2026 CBK | 7839 |  | 7839 |
| CAD | 1716896 | EUR | 1738217 | 5/27/2026 CBK |  | (21321) | (21321) |
| CAD | 1745483 | EUR | 1738216 | 5/27/2026 CBK | 7267 |  | 7267 |
| EUR | 2897029 | CAD | 2917336 | 5/27/2026 CBK |  | (20307) | (20307) |
| CAD | 2940013 | EUR | 3012910 | 5/27/2026 CBK |  | (72897) | (72897) |
| CAD | 2949056 | EUR | 3012910 | 5/27/2026 CBK |  | (63854) | (63854) |
| CAD | 3047952 | EUR | 3128790 | 5/27/2026 CBK |  | (80838) | (80838) |
| CAD | 3189719 | EUR | 3244672 | 5/27/2026 CBK |  | (54953) | (54953) |
| CAD | 3197261 | EUR | 3244672 | 5/27/2026 CBK |  | (47411) | (47411) |
| CAD | 3258933 | EUR | 3244671 | 5/27/2026 CBK | 14262 |  | 14262 |
| CAD | 3260729 | EUR | 3244671 | 5/27/2026 CBK | 16058 |  | 16058 |
| CAD | 3370912 | EUR | 3360552 | 5/27/2026 CBK | 10360 |  | 10360 |
| GBP | 6286370 | JPY | 6330707 | 5/27/2026 CBK |  | (44337) | (44337) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| CAD | 3429013 | EUR | 3476434 | 5/27/2026 | CBK | $— | $(47421) | $(47421) |
| CAD | 3488841 | EUR | 3476433 | 5/27/2026 | CBK | 12408 |  | 12408 |
| CAD | 3501108 | EUR | 3592315 | 5/27/2026 | CBK |  | (91207) | (91207) |
| CAD | 4190184 | EUR | 4171720 | 5/27/2026 | CBK | 18464 |  | 18464 |
| CAD | 4920674 | EUR | 4982889 | 5/27/2026 | CBK |  | (62215) | (62215) |
| GBP | 39438700 | JPY | 39579571 | 5/27/2026 | CBK |  | (140871) | (140871) |
| EUR | 34764350 | CAD | 35012702 | 5/27/2026 | CBK |  | (248352) | (248352) |
| JPY | 525585 | GBP | 529379 | 5/27/2026 | CBK |  | (3794) | (3794) |
| JPY | 667866 | GBP | 661724 | 5/27/2026 | CBK | 6142 |  | 6142 |
| JPY | 1050564 | GBP | 1058758 | 5/27/2026 | CBK |  | (8194) | (8194) |
| JPY | 1832000 | GBP | 1852825 | 5/27/2026 | CBK |  | (20825) | (20825) |
| JPY | 2620040 | GBP | 2646894 | 5/27/2026 | CBK |  | (26854) | (26854) |
| EUR | 231170 | PLN | 230856 | 4/1/2026 | HUB | 314 |  | 314 |
| EUR | 231170 | PLN | 230947 | 4/1/2026 | HUB | 223 |  | 223 |
| EUR | 231170 | PLN | 231006 | 4/1/2026 | HUB | 164 |  | 164 |
| EUR | 231170 | PLN | 231104 | 4/1/2026 | HUB | 66 |  | 66 |
| USD | 830810 | PLN | 835085 | 4/1/2026 | HUB |  | (4275) | (4275) |
| EUR | 1040265 | CHF | 1034865 | 4/1/2026 | HUB | 5400 |  | 5400 |
| EUR | 1155850 | CHF | 1147786 | 4/1/2026 | HUB | 8064 |  | 8064 |
| EUR | 1387020 | CHF | 1379835 | 4/1/2026 | HUB | 7185 |  | 7185 |
| EUR | 1502605 | CHF | 1493195 | 4/1/2026 | HUB | 9410 |  | 9410 |
| USD | 2530745 | CNY | 2540780 | 4/1/2026 | HUB |  | (10035) | (10035) |
| USD | 2888237 | CNY | 2903748 | 4/1/2026 | HUB |  | (15511) | (15511) |
| PLN | 835084 | USD | 829365 | 4/1/2026 | HUB | 5719 |  | 5719 |
| PLN | 923485 | EUR | 924680 | 4/1/2026 | HUB |  | (1195) | (1195) |
| USD | 3469201 | CNY | 3484498 | 4/1/2026 | HUB |  | (15297) | (15297) |
| CHF | 5046914 | EUR | 5085741 | 4/1/2026 | HUB |  | (38827) | (38827) |
| CNY | 8929025 | USD | 8900572 | 4/1/2026 | HUB | 28453 |  | 28453 |
| EUR | 231170 | PLN | 231074 | 4/2/2026 | HUB | 96 |  | 96 |
| EUR | 231170 | PLN | 231097 | 4/2/2026 | HUB | 73 |  | 73 |
| EUR | 231170 | PLN | 231334 | 4/2/2026 | HUB |  | (164) | (164) |
| USD | 776107 | PLN | 781208 | 4/2/2026 | HUB |  | (5101) | (5101) |
| USD | 829360 | PLN | 835084 | 4/2/2026 | HUB |  | (5724) | (5724) |
| EUR | 1040265 | CHF | 1036721 | 4/2/2026 | HUB | 3544 |  | 3544 |
| AUD | 620955 | JPY | 622874 | 4/2/2026 | HUB |  | (1919) | (1919) |
| EUR | 1155850 | CHF | 1148487 | 4/2/2026 | HUB | 7363 |  | 7363 |
| EUR | 1271435 | CHF | 1261960 | 4/2/2026 | HUB | 9475 |  | 9475 |
| AUD | 928630 | GBP | 926520 | 4/2/2026 | HUB | 2110 |  | 2110 |
| USD | 1827028 | BRL | 1834029 | 4/2/2026 | HUB |  | (7001) | (7001) |
| USD | 1943946 | BRL | 1969169 | 4/2/2026 | HUB |  | (25223) | (25223) |
| AUD | 1383438 | EUR | 1387020 | 4/2/2026 | HUB |  | (3582) | (3582) |
| USD | 2019771 | BRL | 2046391 | 4/2/2026 | HUB |  | (26620) | (26620) |
| USD | 2310067 | BRL | 2355281 | 4/2/2026 | HUB |  | (45214) | (45214) |
| USD | 2440979 | BRL | 2529031 | 4/2/2026 | HUB |  | (88052) | (88052) |
| USD | 2605109 | CNY | 2613373 | 4/2/2026 | HUB |  | (8264) | (8264) |
| USD | 2750536 | BRL | 2799309 | 4/2/2026 | HUB |  | (48773) | (48773) |
| BRL | 2200836 | USD | 2139680 | 4/2/2026 | HUB | 61156 |  | 61156 |
| BRL | 2220142 | USD | 2198740 | 4/2/2026 | HUB | 21402 |  | 21402 |
| BRL | 2548336 | USD | 2498646 | 4/2/2026 | HUB | 49690 |  | 49690 |
| USD | 18950535 | BRL | 19305579 | 4/2/2026 | HUB |  | (355044) | (355044) |
| BRL | 4710561 | USD | 4696173 | 4/2/2026 | HUB | 14388 |  | 14388 |
| USD | 34428409 | BRL | 35001014 | 4/2/2026 | HUB |  | (572605) | (572605) |
| BRL | 56159927 | USD | 55462027 | 4/2/2026 | HUB | 697900 |  | 697900 |
| AUD | 206968 | JPY | 205102 | 4/8/2026 | HUB | 1866 |  | 1866 |
| AUD | 413937 | JPY | 420464 | 4/8/2026 | HUB |  | (6527) | (6527) |
| AUD | 551916 | JPY | 556222 | 4/8/2026 | HUB |  | (4306) | (4306) |
| AUD | 551916 | JPY | 558408 | 4/8/2026 | HUB |  | (6492) | (6492) |
| AUD | 758884 | JPY | 756677 | 4/8/2026 | HUB | 2207 |  | 2207 |
| AUD | 896863 | JPY | 904126 | 4/8/2026 | HUB |  | (7263) | (7263) |
| AUD | 965852 | JPY | 960296 | 4/8/2026 | HUB | 5556 |  | 5556 |
| AUD | 1310800 | JPY | 1315998 | 4/8/2026 | HUB |  | (5198) | (5198) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| AUD | 3587451 | JPY | 3662635 | 4/8/2026 | HUB | $— | $(75184) | $(75184) |
| AUD | 13245974 | JPY | 12832447 | 4/8/2026 | HUB | 413527 |  | 413527 |
| AUD | 41393670 | JPY | 40093823 | 4/8/2026 | HUB | 1299847 |  | 1299847 |
| JPY | 477202 | AUD | 482926 | 4/8/2026 | HUB |  | (5724) | (5724) |
| JPY | 498936 | AUD | 482926 | 4/8/2026 | HUB | 16010 |  | 16010 |
| JPY | 669924 | AUD | 689894 | 4/8/2026 | HUB |  | (19970) | (19970) |
| JPY | 943122 | AUD | 965852 | 4/8/2026 | HUB |  | (22730) | (22730) |
| JPY | 1304548 | AUD | 1310800 | 4/8/2026 | HUB |  | (6252) | (6252) |
| JPY | 1517399 | AUD | 1517767 | 4/8/2026 | HUB |  | (368) | (368) |
| JPY | 1534976 | AUD | 1586757 | 4/8/2026 | HUB |  | (51781) | (51781) |
| JPY | 3102337 | AUD | 3173515 | 4/8/2026 | HUB |  | (71178) | (71178) |
| JPY | 3822193 | AUD | 3863409 | 4/8/2026 | HUB |  | (41216) | (41216) |
| JPY | 10791371 | AUD | 11107301 | 4/8/2026 | HUB |  | (315930) | (315930) |
| GBP | 1257399 | AUD | 1231294 | 4/9/2026 | HUB | 26105 |  | 26105 |
| AUD | 918697 | GBP | 926504 | 4/9/2026 | HUB |  | (7807) | (7807) |
| AUD | 918879 | GBP | 926505 | 4/9/2026 | HUB |  | (7626) | (7626) |
| AUD | 921014 | GBP | 926505 | 4/9/2026 | HUB |  | (5491) | (5491) |
| AUD | 922740 | GBP | 926505 | 4/9/2026 | HUB |  | (3765) | (3765) |
| AUD | 923299 | GBP | 926505 | 4/9/2026 | HUB |  | (3206) | (3206) |
| AUD | 1062113 | GBP | 1058862 | 4/9/2026 | HUB | 3251 |  | 3251 |
| AUD | 1223681 | GBP | 1191220 | 4/9/2026 | HUB | 32461 |  | 32461 |
| AUD | 1582175 | GBP | 1588294 | 4/9/2026 | HUB |  | (6119) | (6119) |
| GBP | 3706018 | AUD | 3767371 | 4/9/2026 | HUB |  | (61353) | (61353) |
| AUD | 3002220 | GBP | 2911871 | 4/9/2026 | HUB | 90349 |  | 90349 |
| AUD | 4306915 | GBP | 4367808 | 4/9/2026 | HUB |  | (60893) | (60893) |
| AUD | 38965638 | GBP | 37920511 | 4/9/2026 | HUB | 1045127 |  | 1045127 |
| USD | 19 | JPY | 19 | 4/16/2026 | HUB |  |  |  |
| GBP | 91 | USD | 92 | 4/16/2026 | HUB |  | (1) | (1) |
| USD | 99 | JPY | 99 | 4/16/2026 | HUB |  |  |  |
| USD | 242 | GBP | 240 | 4/16/2026 | HUB | 2 |  | 2 |
| USD | 249 | PLN | 249 | 4/16/2026 | HUB |  |  |  |
| USD | 425 | PLN | 428 | 4/16/2026 | HUB |  | (3) | (3) |
| USD | 475 | PLN | 473 | 4/16/2026 | HUB | 2 |  | 2 |
| PLN | 141 | USD | 140 | 4/16/2026 | HUB | 1 |  | 1 |
| PLN | 191 | USD | 192 | 4/16/2026 | HUB |  | (1) | (1) |
| USD | 874 | GBP | 872 | 4/16/2026 | HUB | 2 |  | 2 |
| GBP | 1215 | USD | 1225 | 4/16/2026 | HUB |  | (10) | (10) |
| USD | 925 | CAD | 910 | 4/16/2026 | HUB | 15 |  | 15 |
| USD | 981 | JPY | 986 | 4/16/2026 | HUB |  | (5) | (5) |
| USD | 1282 | JPY | 1288 | 4/16/2026 | HUB |  | (6) | (6) |
| USD | 1504 | JPY | 1507 | 4/16/2026 | HUB |  | (3) | (3) |
| USD | 1580 | GBP | 1577 | 4/16/2026 | HUB | 3 |  | 3 |
| USD | 1595 | GBP | 1576 | 4/16/2026 | HUB | 19 |  | 19 |
| USD | 1894 | JPY | 1906 | 4/16/2026 | HUB |  | (12) | (12) |
| USD | 2075 | JPY | 2072 | 4/16/2026 | HUB | 3 |  | 3 |
| USD | 2120 | JPY | 2119 | 4/16/2026 | HUB | 1 |  | 1 |
| GBP | 3418 | USD | 3426 | 4/16/2026 | HUB |  | (8) | (8) |
| USD | 2706 | GBP | 2706 | 4/16/2026 | HUB |  |  |  |
| USD | 2951 | CAD | 2895 | 4/16/2026 | HUB | 56 |  | 56 |
| CAD | 2141 | USD | 2169 | 4/16/2026 | HUB |  | (28) | (28) |
| USD | 3069 | JPY | 3085 | 4/16/2026 | HUB |  | (16) | (16) |
| USD | 3150 | PLN | 3127 | 4/16/2026 | HUB | 23 |  | 23 |
| GBP | 4831 | USD | 4909 | 4/16/2026 | HUB |  | (78) | (78) |
| USD | 3751 | JPY | 3774 | 4/16/2026 | HUB |  | (23) | (23) |
| PLN | 1235 | USD | 1237 | 4/16/2026 | HUB |  | (2) | (2) |
| USD | 4626 | CAD | 4554 | 4/16/2026 | HUB | 72 |  | 72 |
| CAD | 3554 | USD | 3620 | 4/16/2026 | HUB |  | (66) | (66) |
| USD | 5049 | PLN | 5039 | 4/16/2026 | HUB | 10 |  | 10 |
| CAD | 3665 | USD | 3728 | 4/16/2026 | HUB |  | (63) | (63) |
| PLN | 1430 | USD | 1422 | 4/16/2026 | HUB | 8 |  | 8 |
| USD | 5326 | GBP | 5314 | 4/16/2026 | HUB | 12 |  | 12 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| GBP | 8451 | USD | 8552 | 4/16/2026 | HUB | $— | $(101) | $(101) |
| USD | 7257 | PLN | 7222 | 4/16/2026 | HUB | 35 |  | 35 |
| USD | 7279 | PLN | 7304 | 4/16/2026 | HUB |  | (25) | (25) |
| AUD | 7155 | USD | 7397 | 4/16/2026 | HUB |  | (242) | (242) |
| USD | 11332 | PLN | 11164 | 4/16/2026 | HUB | 168 |  | 168 |
| USD | 12173 | CAD | 12004 | 4/16/2026 | HUB | 169 |  | 169 |
| CAD | 11662 | USD | 11986 | 4/16/2026 | HUB |  | (324) | (324) |
| CAD | 11695 | USD | 11980 | 4/16/2026 | HUB |  | (285) | (285) |
| USD | 21010 | CAD | 20481 | 4/16/2026 | HUB | 529 |  | 529 |
| USD | 24063 | JPY | 24136 | 4/16/2026 | HUB |  | (73) | (73) |
| USD | 26251 | JPY | 26332 | 4/16/2026 | HUB |  | (81) | (81) |
| USD | 50820 | JPY | 50977 | 4/16/2026 | HUB |  | (157) | (157) |
| USD | 77944 | AUD | 76382 | 4/16/2026 | HUB | 1562 |  | 1562 |
| JPY | 522 | USD | 518 | 4/16/2026 | HUB | 4 |  | 4 |
| JPY | 636 | USD | 637 | 4/16/2026 | HUB |  | (1) | (1) |
| GBP | 187414 | USD | 189336 | 4/16/2026 | HUB |  | (1922) | (1922) |
| JPY | 1224 | USD | 1223 | 4/16/2026 | HUB | 1 |  | 1 |
| JPY | 1559 | USD | 1560 | 4/16/2026 | HUB |  | (1) | (1) |
| JPY | 1983 | USD | 1982 | 4/16/2026 | HUB | 1 |  | 1 |
| CAD | 297911 | USD | 305199 | 4/16/2026 | HUB |  | (7288) | (7288) |
| JPY | 4876 | USD | 4893 | 4/16/2026 | HUB |  | (17) | (17) |
| JPY | 6510 | USD | 6560 | 4/16/2026 | HUB |  | (50) | (50) |
| JPY | 7626 | USD | 7622 | 4/16/2026 | HUB | 4 |  | 4 |
| USD | 12520762 | KRW | 12061444 | 4/16/2026 | HUB | 459318 |  | 459318 |
| USD | 13142029 | GBP | 12974646 | 4/16/2026 | HUB | 167383 |  | 167383 |
| USD | 2690718 | CLP | 2700056 | 4/22/2026 | HUB |  | (9338) | (9338) |
| USD | 2807654 | CLP | 2808058 | 4/22/2026 | HUB |  | (404) | (404) |
| USD | 2812109 | CLP | 2808058 | 4/22/2026 | HUB | 4051 |  | 4051 |
| USD | 2860978 | CLP | 2808058 | 4/22/2026 | HUB | 52920 |  | 52920 |
| USD | 3407763 | CLP | 3402070 | 4/22/2026 | HUB | 5693 |  | 5693 |
| CLP | 2754057 | USD | 2939200 | 4/22/2026 | HUB |  | (185143) | (185143) |
| CLP | 15498320 | USD | 15790369 | 4/22/2026 | HUB |  | (292049) | (292049) |
| CHF | 1019636 | EUR | 1041352 | 4/24/2026 | HUB |  | (21716) | (21716) |
| CHF | 1026882 | EUR | 1041352 | 4/24/2026 | HUB |  | (14470) | (14470) |
| CHF | 1139889 | EUR | 1157057 | 4/24/2026 | HUB |  | (17168) | (17168) |
| CHF | 2149190 | EUR | 2198410 | 4/24/2026 | HUB |  | (49220) | (49220) |
| CHF | 2165660 | EUR | 2198409 | 4/24/2026 | HUB |  | (32749) | (32749) |
| EUR | 2429822 | CHF | 2398235 | 4/24/2026 | HUB | 31587 |  | 31587 |
| EUR | 3471174 | CHF | 3447508 | 4/24/2026 | HUB | 23666 |  | 23666 |
| EUR | 3586879 | CHF | 3554847 | 4/24/2026 | HUB | 32032 |  | 32032 |
| CHF | 4328953 | EUR | 4396819 | 4/24/2026 | HUB |  | (67866) | (67866) |
| CHF | 4860376 | EUR | 4975348 | 4/24/2026 | HUB |  | (114972) | (114972) |
| EUR | 4743937 | CHF | 4717903 | 4/24/2026 | HUB | 26034 |  | 26034 |
| EUR | 5091055 | CHF | 5051922 | 4/24/2026 | HUB | 39133 |  | 39133 |
| EUR | 6363818 | CHF | 6303883 | 4/24/2026 | HUB | 59935 |  | 59935 |
| EUR | 7405170 | CHF | 7291074 | 4/24/2026 | HUB | 114096 |  | 114096 |
| CHF | 34171058 | EUR | 34711734 | 4/24/2026 | HUB |  | (540676) | (540676) |
| USD | 1608455 | KRW | 1568019 | 4/27/2026 | HUB | 40436 |  | 40436 |
| USD | 1666478 | KRW | 1633353 | 4/27/2026 | HUB | 33125 |  | 33125 |
| USD | 1670945 | KRW | 1633352 | 4/27/2026 | HUB | 37593 |  | 37593 |
| USD | 1678240 | KRW | 1633353 | 4/27/2026 | HUB | 44887 |  | 44887 |
| USD | 1723075 | KRW | 1698687 | 4/27/2026 | HUB | 24388 |  | 24388 |
| USD | 1729436 | KRW | 1698687 | 4/27/2026 | HUB | 30749 |  | 30749 |
| USD | 1737167 | KRW | 1698687 | 4/27/2026 | HUB | 38480 |  | 38480 |
| USD | 1737991 | KRW | 1698687 | 4/27/2026 | HUB | 39304 |  | 39304 |
| USD | 1804439 | KRW | 1764021 | 4/27/2026 | HUB | 40418 |  | 40418 |
| USD | 1808091 | KRW | 1764021 | 4/27/2026 | HUB | 44070 |  | 44070 |
| USD | 1873491 | KRW | 1829355 | 4/27/2026 | HUB | 44136 |  | 44136 |
| USD | 1952901 | KRW | 1894689 | 4/27/2026 | HUB | 58212 |  | 58212 |
| USD | 1985110 | KRW | 1960023 | 4/27/2026 | HUB | 25087 |  | 25087 |
| USD | 2010724 | KRW | 1960024 | 4/27/2026 | HUB | 50700 |  | 50700 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 2013689 | KRW | 1960023 | 4/27/2026 | HUB | $53666 | $— | $53666 |
| USD | 2019470 | KRW | 1960023 | 4/27/2026 | HUB | 59447 |  | 59447 |
| USD | 2125463 | KRW | 2090691 | 4/27/2026 | HUB | 34772 |  | 34772 |
| USD | 2281757 | KRW | 2221360 | 4/27/2026 | HUB | 60397 |  | 60397 |
| USD | 2340605 | KRW | 2286694 | 4/27/2026 | HUB | 53911 |  | 53911 |
| USD | 2344163 | KRW | 2286694 | 4/27/2026 | HUB | 57469 |  | 57469 |
| USD | 2779013 | KRW | 2613365 | 4/27/2026 | HUB | 165648 |  | 165648 |
| USD | 8774493 | KRW | 8493434 | 4/27/2026 | HUB | 281059 |  | 281059 |
| BRL | 19188422 | USD | 18832562 | 5/5/2026 | HUB | 355860 |  | 355860 |
| BRL | 34788609 | USD | 34214648 | 5/5/2026 | HUB | 573961 |  | 573961 |
| USD | 1556126 | COP | 1619106 | 5/6/2026 | HUB |  | (62980) | (62980) |
| USD | 1739827 | COP | 1781016 | 5/6/2026 | HUB |  | (41189) | (41189) |
| COP | 1619105 | USD | 1604025 | 5/6/2026 | HUB | 15080 |  | 15080 |
| COP | 1619105 | USD | 1610500 | 5/6/2026 | HUB | 8605 |  | 8605 |
| COP | 1834986 | USD | 1815759 | 5/6/2026 | HUB | 19227 |  | 19227 |
| COP | 2320718 | USD | 2231755 | 5/6/2026 | HUB | 88963 |  | 88963 |
| COP | 2536599 | USD | 2509927 | 5/6/2026 | HUB | 26672 |  | 26672 |
| COP | 2698509 | USD | 2671818 | 5/6/2026 | HUB | 26691 |  | 26691 |
| COP | 21372192 | USD | 21153733 | 5/6/2026 | HUB | 218459 |  | 218459 |
| USD | 87313190 | KRW | 84317716 | 5/12/2026 | HUB | 2995474 |  | 2995474 |
| USD | 2543436 | CNY | 2549701 | 5/22/2026 | HUB |  | (6265) | (6265) |
| USD | 2758643 | CNY | 2768247 | 5/22/2026 | HUB |  | (9604) | (9604) |
| USD | 6116053 | CNY | 6119283 | 5/22/2026 | HUB |  | (3230) | (3230) |
| USD | 8932732 | CNY | 8960379 | 5/22/2026 | HUB |  | (27647) | (27647) |
| USD | 12331708 | CNY | 12384262 | 5/22/2026 | HUB |  | (52554) | (52554) |
| USD | 15940500 | CNY | 16026693 | 5/22/2026 | HUB |  | (86193) | (86193) |
| USD | 18775658 | CNY | 18794940 | 5/22/2026 | HUB |  | (19282) | (19282) |
| CNY | 161141124 | USD | 161247537 | 5/22/2026 | HUB |  | (106413) | (106413) |
| EUR | 231752 | PLN | 230122 | 5/26/2026 | HUB | 1630 |  | 1630 |
| EUR | 231752 | PLN | 230997 | 5/26/2026 | HUB | 755 |  | 755 |
| EUR | 347628 | PLN | 342606 | 5/26/2026 | HUB | 5022 |  | 5022 |
| EUR | 463504 | PLN | 463980 | 5/26/2026 | HUB |  | (476) | (476) |
| EUR | 579380 | PLN | 575782 | 5/26/2026 | HUB | 3598 |  | 3598 |
| EUR | 695256 | PLN | 692134 | 5/26/2026 | HUB | 3122 |  | 3122 |
| EUR | 695256 | PLN | 692540 | 5/26/2026 | HUB | 2716 |  | 2716 |
| USD | 780624 | PLN | 781086 | 5/26/2026 | HUB |  | (462) | (462) |
| USD | 782965 | PLN | 781086 | 5/26/2026 | HUB | 1879 |  | 1879 |
| USD | 789344 | PLN | 781086 | 5/26/2026 | HUB | 8258 |  | 8258 |
| EUR | 927007 | PLN | 925851 | 5/26/2026 | HUB | 1156 |  | 1156 |
| USD | 802636 | PLN | 781086 | 5/26/2026 | HUB | 21550 |  | 21550 |
| USD | 807989 | PLN | 808021 | 5/26/2026 | HUB |  | (32) | (32) |
| USD | 829251 | PLN | 834954 | 5/26/2026 | HUB |  | (5703) | (5703) |
| USD | 839438 | PLN | 834954 | 5/26/2026 | HUB | 4484 |  | 4484 |
| USD | 861612 | PLN | 861888 | 5/26/2026 | HUB |  | (276) | (276) |
| USD | 866989 | PLN | 861888 | 5/26/2026 | HUB | 5101 |  | 5101 |
| EUR | 1042883 | PLN | 1033074 | 5/26/2026 | HUB | 9809 |  | 9809 |
| EUR | 1158759 | PLN | 1151848 | 5/26/2026 | HUB | 6911 |  | 6911 |
| USD | 1036554 | PLN | 996558 | 5/26/2026 | HUB | 39996 |  | 39996 |
| EUR | 1390511 | PLN | 1388677 | 5/26/2026 | HUB | 1834 |  | 1834 |
| USD | 1583794 | PLN | 1589106 | 5/26/2026 | HUB |  | (5312) | (5312) |
| USD | 1642316 | PLN | 1642974 | 5/26/2026 | HUB |  | (658) | (658) |
| USD | 1658378 | PLN | 1669908 | 5/26/2026 | HUB |  | (11530) | (11530) |
| USD | 1664435 | PLN | 1642974 | 5/26/2026 | HUB | 21461 |  | 21461 |
| USD | 1680299 | PLN | 1669908 | 5/26/2026 | HUB | 10391 |  | 10391 |
| USD | 1743793 | PLN | 1750710 | 5/26/2026 | HUB |  | (6917) | (6917) |
| USD | 1831707 | PLN | 1831512 | 5/26/2026 | HUB | 195 |  | 195 |
| EUR | 2201643 | PLN | 2191823 | 5/26/2026 | HUB | 9820 |  | 9820 |
| PLN | 570139 | EUR | 579380 | 5/26/2026 | HUB |  | (9241) | (9241) |
| USD | 3000252 | PLN | 2881938 | 5/26/2026 | HUB | 118314 |  | 118314 |
| EUR | 4055658 | PLN | 4040176 | 5/26/2026 | HUB | 15482 |  | 15482 |
| USD | 3916420 | PLN | 3878496 | 5/26/2026 | HUB | 37924 |  | 37924 |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 4002931 | PLN | 3932364 | 5/26/2026 | HUB | $70567 | $— | $70567 |
| PLN | 1141255 | EUR | 1158760 | 5/26/2026 | HUB |  | (17505) | (17505) |
| USD | 4338663 | PLN | 4255572 | 5/26/2026 | HUB | 83091 |  | 83091 |
| USD | 5126842 | PLN | 5090526 | 5/26/2026 | HUB | 36316 |  | 36316 |
| PLN | 1849436 | EUR | 1854015 | 5/26/2026 | HUB |  | (4579) | (4579) |
| EUR | 8690695 | PLN | 8678367 | 5/26/2026 | HUB | 12328 |  | 12328 |
| EUR | 16338506 | PLN | 16342729 | 5/26/2026 | HUB |  | (4223) | (4223) |
| PLN | 4104348 | EUR | 4171535 | 5/26/2026 | HUB |  | (67187) | (67187) |
| USD | 15546066 | PLN | 15433183 | 5/26/2026 | HUB | 112883 |  | 112883 |
| PLN | 13116859 | USD | 13703734 | 5/26/2026 | HUB |  | (586875) | (586875) |
| PLN | 22793545 | EUR | 23175190 | 5/26/2026 | HUB |  | (381645) | (381645) |
| PLN | 22824477 | EUR | 23175190 | 5/26/2026 | HUB |  | (350713) | (350713) |
| PLN | 32320803 | USD | 33777367 | 5/26/2026 | HUB |  | (1456564) | (1456564) |
| EUR | 695287 | AUD | 673865 | 5/27/2026 | HUB | 21422 |  | 21422 |
| AUD | 686786 | EUR | 695288 | 5/27/2026 | HUB |  | (8502) | (8502) |
| AUD | 690082 | EUR | 695287 | 5/27/2026 | HUB |  | (5205) | (5205) |
| AUD | 692577 | EUR | 695288 | 5/27/2026 | HUB |  | (2711) | (2711) |
| AUD | 696440 | EUR | 695287 | 5/27/2026 | HUB | 1153 |  | 1153 |
| AUD | 1367143 | EUR | 1390575 | 5/27/2026 | HUB |  | (23432) | (23432) |
| AUD | 1388769 | EUR | 1390574 | 5/27/2026 | HUB |  | (1805) | (1805) |
| AUD | 1725496 | EUR | 1738218 | 5/27/2026 | HUB |  | (12722) | (12722) |
| AUD | 1849861 | EUR | 1854099 | 5/27/2026 | HUB |  | (4238) | (4238) |
| EUR | 3244673 | AUD | 3142278 | 5/27/2026 | HUB | 102395 |  | 102395 |
| AUD | 2081227 | EUR | 2085862 | 5/27/2026 | HUB |  | (4635) | (4635) |
| AUD | 2103476 | EUR | 2085862 | 5/27/2026 | HUB | 17614 |  | 17614 |
| AUD | 4746512 | EUR | 4867011 | 5/27/2026 | HUB |  | (120499) | (120499) |
| AUD | 35048757 | EUR | 34764359 | 5/27/2026 | HUB | 284398 |  | 284398 |
| EUR | 577925 | SEK | 576142 | 4/1/2026 | NWM | 1783 |  | 1783 |
| EUR | 577925 | SEK | 576672 | 4/1/2026 | NWM | 1253 |  | 1253 |
| EUR | 693510 | SEK | 693803 | 4/1/2026 | NWM |  | (293) | (293) |
| EUR | 693510 | JPY | 695245 | 4/1/2026 | NWM |  | (1735) | (1735) |
| USD | 3472836 | ILS | 3498394 | 4/1/2026 | NWM |  | (25558) | (25558) |
| ILS | 3498394 | USD | 3466649 | 4/1/2026 | NWM | 31745 |  | 31745 |
| SEK | 1854423 | EUR | 1849361 | 4/1/2026 | NWM | 5062 |  | 5062 |
| JPY | 692163 | EUR | 693510 | 4/1/2026 | NWM |  | (1347) | (1347) |
| EUR | 577925 | SEK | 578371 | 4/2/2026 | NWM |  | (446) | (446) |
| EUR | 577925 | SEK | 578570 | 4/2/2026 | NWM |  | (645) | (645) |
| EUR | 577925 | SEK | 579540 | 4/2/2026 | NWM |  | (1615) | (1615) |
| GBP | 1149571 | EUR | 1155850 | 4/2/2026 | NWM |  | (6279) | (6279) |
| EUR | 1040265 | JPY | 1039555 | 4/2/2026 | NWM | 710 |  | 710 |
| HUF | 1273192 | EUR | 1271435 | 4/2/2026 | NWM | 1757 |  | 1757 |
| HUF | 1395921 | EUR | 1387020 | 4/2/2026 | NWM | 8901 |  | 8901 |
| USD | 3631180 | ILS | 3657412 | 4/3/2026 | NWM |  | (26232) | (26232) |
| EUR | 693671 | JPY | 690633 | 4/7/2026 | NWM | 3038 |  | 3038 |
| EUR | 693671 | JPY | 692294 | 4/7/2026 | NWM | 1377 |  | 1377 |
| EUR | 924895 | JPY | 930194 | 4/7/2026 | NWM |  | (5299) | (5299) |
| EUR | 1387343 | JPY | 1385482 | 4/7/2026 | NWM | 1861 |  | 1861 |
| EUR | 1387343 | JPY | 1387083 | 4/7/2026 | NWM | 260 |  | 260 |
| EUR | 1502954 | JPY | 1505220 | 4/7/2026 | NWM |  | (2266) | (2266) |
| EUR | 1502954 | JPY | 1518025 | 4/7/2026 | NWM |  | (15071) | (15071) |
| EUR | 1965402 | JPY | 1981470 | 4/7/2026 | NWM |  | (16068) | (16068) |
| EUR | 2081014 | JPY | 2087057 | 4/7/2026 | NWM |  | (6043) | (6043) |
| EUR | 2196626 | JPY | 2204169 | 4/7/2026 | NWM |  | (7543) | (7543) |
| EUR | 2427850 | JPY | 2440728 | 4/7/2026 | NWM |  | (12878) | (12878) |
| EUR | 2890297 | JPY | 2902826 | 4/7/2026 | NWM |  | (12529) | (12529) |
| EUR | 2890297 | JPY | 2903600 | 4/7/2026 | NWM |  | (13303) | (13303) |
| EUR | 6127430 | JPY | 6101973 | 4/7/2026 | NWM | 25457 |  | 25457 |
| EUR | 31099596 | JPY | 31049321 | 4/7/2026 | NWM | 50275 |  | 50275 |
| JPY | 686750 | EUR | 693672 | 4/7/2026 | NWM |  | (6922) | (6922) |
| JPY | 2750025 | EUR | 2774687 | 4/7/2026 | NWM |  | (24662) | (24662) |
| JPY | 3087540 | EUR | 3121523 | 4/7/2026 | NWM |  | (33983) | (33983) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 6005337 | ZAR | 6111063 | 4/14/2026 | NWM | $— | $(105726) | $(105726) |
| USD | 6062702 | ZAR | 5904409 | 4/14/2026 | NWM | 158293 |  | 158293 |
| USD | 6229654 | ZAR | 6229151 | 4/14/2026 | NWM | 503 |  | 503 |
| USD | 6280991 | ZAR | 5904408 | 4/14/2026 | NWM | 376583 |  | 376583 |
| USD | 6358669 | ZAR | 6288195 | 4/14/2026 | NWM | 70474 |  | 70474 |
| USD | 6381588 | ZAR | 6258673 | 4/14/2026 | NWM | 122915 |  | 122915 |
| USD | 6585255 | ZAR | 6524371 | 4/14/2026 | NWM | 60884 |  | 60884 |
| USD | 6774076 | ZAR | 6524371 | 4/14/2026 | NWM | 249705 |  | 249705 |
| USD | 6831022 | ZAR | 6553893 | 4/14/2026 | NWM | 277129 |  | 277129 |
| USD | 7059252 | ZAR | 7026246 | 4/14/2026 | NWM | 33006 |  | 33006 |
| USD | 8599851 | ZAR | 8177606 | 4/14/2026 | NWM | 422245 |  | 422245 |
| USD | 10821239 | ZAR | 10214627 | 4/14/2026 | NWM | 606612 |  | 606612 |
| USD | 11911607 | ZAR | 11247899 | 4/14/2026 | NWM | 663708 |  | 663708 |
| USD | 12874436 | ZAR | 12546868 | 4/14/2026 | NWM | 327568 |  | 327568 |
| USD | 13016109 | ZAR | 12546868 | 4/14/2026 | NWM | 469241 |  | 469241 |
| ZAR | 4723527 | USD | 4868693 | 4/14/2026 | NWM |  | (145166) | (145166) |
| ZAR | 10332715 | USD | 10620269 | 4/14/2026 | NWM |  | (287554) | (287554) |
| ZAR | 15735248 | USD | 16133308 | 4/14/2026 | NWM |  | (398060) | (398060) |
| ZAR | 19189327 | USD | 19726517 | 4/14/2026 | NWM |  | (537190) | (537190) |
| ZAR | 26865058 | USD | 27647631 | 4/14/2026 | NWM |  | (782573) | (782573) |
| ZAR | 30702923 | USD | 31482982 | 4/14/2026 | NWM |  | (780059) | (780059) |
| ZAR | 42216520 | USD | 43474337 | 4/14/2026 | NWM |  | (1257817) | (1257817) |
| USD | 943 | CHF | 934 | 4/16/2026 | NWM | 9 |  | 9 |
| CHF | 1335 | USD | 1358 | 4/16/2026 | NWM |  | (23) | (23) |
| USD | 2588 | CHF | 2546 | 4/16/2026 | NWM | 42 |  | 42 |
| USD | 2786 | CHF | 2737 | 4/16/2026 | NWM | 49 |  | 49 |
| USD | 4555 | HUF | 4612 | 4/16/2026 | NWM |  | (57) | (57) |
| USD | 4778 | HUF | 4895 | 4/16/2026 | NWM |  | (117) | (117) |
| CHF | 7010 | USD | 7007 | 4/16/2026 | NWM | 3 |  | 3 |
| USD | 6847 | CHF | 6734 | 4/16/2026 | NWM | 113 |  | 113 |
| CHF | 8996 | USD | 9107 | 4/16/2026 | NWM |  | (111) | (111) |
| CHF | 9929 | USD | 9960 | 4/16/2026 | NWM |  | (31) | (31) |
| USD | 8774 | CHF | 8781 | 4/16/2026 | NWM |  | (7) | (7) |
| USD | 9780 | CHF | 9695 | 4/16/2026 | NWM | 85 |  | 85 |
| USD | 10970 | HUF | 11104 | 4/16/2026 | NWM |  | (134) | (134) |
| USD | 123208 | HUF | 123211 | 4/16/2026 | NWM |  | (3) | (3) |
| HUF | 1753 | USD | 1720 | 4/16/2026 | NWM | 33 |  | 33 |
| HUF | 31220 | USD | 30154 | 4/16/2026 | NWM | 1066 |  | 1066 |
| USD | 1145803 | PEN | 1148485 | 4/20/2026 | NWM |  | (2682) | (2682) |
| PEN | 1148485 | USD | 1163670 | 4/20/2026 | NWM |  | (15185) | (15185) |
| USD | 3472769 | ILS | 3503664 | 5/13/2026 | NWM |  | (30895) | (30895) |
| USD | 3509905 | ILS | 3503665 | 5/13/2026 | NWM | 6240 |  | 6240 |
| USD | 3525787 | ILS | 3503665 | 5/13/2026 | NWM | 22122 |  | 22122 |
| USD | 3538394 | ILS | 3503665 | 5/13/2026 | NWM | 34729 |  | 34729 |
| USD | 3662010 | ILS | 3662922 | 5/13/2026 | NWM |  | (912) | (912) |
| USD | 3684574 | ILS | 3662922 | 5/13/2026 | NWM | 21652 |  | 21652 |
| USD | 3689851 | ILS | 3662922 | 5/13/2026 | NWM | 26929 |  | 26929 |
| USD | 3833301 | ILS | 3822179 | 5/13/2026 | NWM | 11122 |  | 11122 |
| ILS | 1274060 | USD | 1269744 | 5/13/2026 | NWM | 4316 |  | 4316 |
| USD | 4049029 | ILS | 3981437 | 5/13/2026 | NWM | 67592 |  | 67592 |
| USD | 7877768 | ILS | 7803617 | 5/13/2026 | NWM | 74151 |  | 74151 |
| USD | 8089369 | ILS | 7962874 | 5/13/2026 | NWM | 126495 |  | 126495 |
| ILS | 21977532 | USD | 22367792 | 5/13/2026 | NWM |  | (390260) | (390260) |
| ILS | 57332692 | USD | 58520656 | 5/13/2026 | NWM |  | (1187964) | (1187964) |
| USD | 815780 | HUF | 839278 | 5/18/2026 | NWM |  | (23498) | (23498) |
| USD | 828548 | HUF | 839277 | 5/18/2026 | NWM |  | (10729) | (10729) |
| USD | 829489 | HUF | 839277 | 5/18/2026 | NWM |  | (9788) | (9788) |
| USD | 870244 | HUF | 899226 | 5/18/2026 | NWM |  | (28982) | (28982) |
| USD | 896253 | HUF | 899226 | 5/18/2026 | NWM |  | (2973) | (2973) |
| USD | 904686 | HUF | 899226 | 5/18/2026 | NWM | 5460 |  | 5460 |
| USD | 990548 | HUF | 1019123 | 5/18/2026 | NWM |  | (28575) | (28575) |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased<sup>\*</sup>** | **Currency Purchased<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Currency Sold<sup>\*</sup>** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 1771593 | HUF | 1768478 | 5/18/2026 | NWM | $3115 | $— | $3115 |
| USD | 2004404 | HUF | 2008272 | 5/18/2026 | NWM |  | (3868) | (3868) |
| USD | 2130621 | HUF | 2098194 | 5/18/2026 | NWM | 32427 |  | 32427 |
| USD | 6399349 | HUF | 6414480 | 5/18/2026 | NWM |  | (15131) | (15131) |
| HUF | 839278 | USD | 869318 | 5/18/2026 | NWM |  | (30040) | (30040) |
| HUF | 17744730 | USD | 18265680 | 5/18/2026 | NWM |  | (520950) | (520950) |
| GBP | 918679 | EUR | 927008 | 5/26/2026 | NWM |  | (8329) | (8329) |
| GBP | 920068 | EUR | 927008 | 5/26/2026 | NWM |  | (6940) | (6940) |
| GBP | 921124 | EUR | 927007 | 5/26/2026 | NWM |  | (5883) | (5883) |
| GBP | 921291 | EUR | 927007 | 5/26/2026 | NWM |  | (5716) | (5716) |
| EUR | 1158759 | SEK | 1138566 | 5/26/2026 | NWM | 20193 |  | 20193 |
| EUR | 1158759 | SEK | 1145590 | 5/26/2026 | NWM | 13169 |  | 13169 |
| EUR | 1158759 | SEK | 1147658 | 5/26/2026 | NWM | 11101 |  | 11101 |
| EUR | 1158759 | SEK | 1151558 | 5/26/2026 | NWM | 7201 |  | 7201 |
| EUR | 1158759 | SEK | 1153431 | 5/26/2026 | NWM | 5328 |  | 5328 |
| EUR | 1274635 | SEK | 1255764 | 5/26/2026 | NWM | 18871 |  | 18871 |
| EUR | 1274635 | HUF | 1287211 | 5/26/2026 | NWM |  | (12576) | (12576) |
| EUR | 1274635 | HUF | 1299021 | 5/26/2026 | NWM |  | (24386) | (24386) |
| EUR | 1506387 | SEK | 1478561 | 5/26/2026 | NWM | 27826 |  | 27826 |
| EUR | 1738139 | SEK | 1699949 | 5/26/2026 | NWM | 38190 |  | 38190 |
| EUR | 1854015 | SEK | 1859141 | 5/26/2026 | NWM |  | (5126) | (5126) |
| EUR | 1854015 | HUF | 1815790 | 5/26/2026 | NWM | 38225 |  | 38225 |
| EUR | 2201643 | SEK | 2122837 | 5/26/2026 | NWM | 78806 |  | 78806 |
| EUR | 2549270 | SEK | 2514902 | 5/26/2026 | NWM | 34368 |  | 34368 |
| EUR | 2665146 | SEK | 2592210 | 5/26/2026 | NWM | 72936 |  | 72936 |
| EUR | 2665146 | SEK | 2637254 | 5/26/2026 | NWM | 27892 |  | 27892 |
| EUR | 2665146 | HUF | 2668118 | 5/26/2026 | NWM |  | (2972) | (2972) |
| EUR | 2896898 | HUF | 2917979 | 5/26/2026 | NWM |  | (21081) | (21081) |
| EUR | 3012774 | HUF | 3038761 | 5/26/2026 | NWM |  | (25987) | (25987) |
| EUR | 4171533 | HUF | 4297265 | 5/26/2026 | NWM |  | (125732) | (125732) |
| EUR | 4287409 | HUF | 4314872 | 5/26/2026 | NWM |  | (27463) | (27463) |
| EUR | 8111315 | HUF | 8062580 | 5/26/2026 | NWM | 48735 |  | 48735 |
| SEK | 1143221 | EUR | 1158759 | 5/26/2026 | NWM |  | (15538) | (15538) |
| EUR | 12862228 | HUF | 12986365 | 5/26/2026 | NWM |  | (124137) | (124137) |
| GBP | 53097296 | EUR | 53766441 | 5/26/2026 | NWM |  | (669145) | (669145) |
| SEK | 29979402 | EUR | 31054753 | 5/26/2026 | NWM |  | (1075351) | (1075351) |
| HUF | 1262973 | EUR | 1274635 | 5/26/2026 | NWM |  | (11662) | (11662) |
| HUF | 1290001 | EUR | 1274635 | 5/26/2026 | NWM | 15366 |  | 15366 |
| HUF | 1483240 | EUR | 1506387 | 5/26/2026 | NWM |  | (23147) | (23147) |
| HUF | 2763793 | EUR | 2781023 | 5/26/2026 | NWM |  | (17230) | (17230) |
| HUF | 40311215 | EUR | 40556579 | 5/26/2026 | NWM |  | (245364) | (245364) |
| USD | 714327 | PEN | 714931 | 7/8/2026 | NWM |  | (604) | (604) |
| PEN | 1143888 | USD | 1141259 | 7/8/2026 | NWM | 2629 |  | 2629 |
| EUR | 1782911 | USD | 1790626 | 4/16/2026 | SSB |  | (7715) | (7715) |
| USD | 4558040 | GBP | 4492402 | 4/16/2026 | SSB | 65638 |  | 65638 |
| CAD | 3398551 | USD | 3487177 | 4/16/2026 | SSB |  | (88626) | (88626) |
| MYR | 1951923 | USD | 1999746 | 4/16/2026 | SSB |  | (47823) | (47823) |
| USD | 22893752 | MYR | 22360395 | 4/16/2026 | SSB | 533357 |  | 533357 |
|  |  |  |  |  |  | $28770606 | $(27854535) | $916071 |

---

\* *All values denominated in USD.*

***Glossary:***

**<u>Counterparty Abbreviations:</u>**

---

| | |
|:---|:---|
|  BNP | BNP Paribas NA |
|  CBK | Citibank NA |
|  HUB | HSBC Bank PLC |
|  NWM | NatWest Markets PLC |
|  SSB | State Street Bank & Trust Co. |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

**<u>Currency Abbreviations:</u>**

---

| | |
|:---|:---|
|  AUD | Australian Dollar |
|  BRL | Brazilian Real |
|  CAD | Canadian Dollar |
|  CHF | Swiss Franc |
|  CLP | Chilean Peso |
|  CNY | Chinese Yuan |
|  COP | Colombian Peso |
|  EUR | Euro |
|  GBP | British Pound |
|  HUF | Hungarian Forint |
|  ILS | Israeli New Shekel |
|  INR | Indian Rupee |
|  JPY | Japanese Yen |
|  KRW | South Korean Won |
|  MYR | Malaysian Ringgit |
|  NOK | Norwegian Krone |
|  PEN | Peruvian Nuevo Sol |
|  PHP | Philippine Peso |
|  PLN | Polish Zloty |
|  SEK | Swedish Krona |
|  SGD | Singapore Dollar |
|  THB | Thai Baht |
|  TWD | New Taiwan Dollar |
|  USD | United States Dollar |
|  ZAR | South African Rand |

---

**<u>Index Abbreviations:</u>**

---

| | |
|:---|:---|
|  CAC 40 | Euronet Paris - French Stock Market Index. |
|  DAX | Deutsche Boerse AG German Stock Index. |
|  EURO STOXX 50 | Eurozone Blue-chip Index. |
|  FTSE 100 | Financial Times Stock Exchange 100 Index. |
|  FTSE China A50 | Financial Times Stock Exchange China A50 Index. |
|  FTSE/JSE Top 40 | Largest 40 companies ranked by full market value in the FTSE/JSE All-Share Index. |
|  FTSE/MIB | Borsa Italiana-Italian Stock Market Index. |
|  Hang Seng | Hong Kong Stock Market Index. |
|  KOSPI | South Korean Stock Market Index. |
|  MSCI EAFE | Morgan Stanley Capital International - Europe, Australasia, and Far East. |
|  NASDAQ | National Association of Securities Dealers Automated Quotations. |
|  Nifty 50 | National Stock Exchange FIFTY. |
|  NIKKEI 225 | Nikkei Stock Average. |
|  OMXS30 | Stockholm Stock Exchange's leading share index. |
|  Russell 2000 | U.S. Small-Cap Stock Market Index. |
|  S&P/TSX | Canadian Equity Market Index. |
|  TOPIX | Tokyo Stock Exchange Tokyo Price Index. |

---

**<u>Exchange Abbreviations:</u>**

---

| | |
|:---|:---|
|  ASX | Australian Securities Exchange. |
|  CBOT | Chicago Board of Trade. |
|  CME | Chicago Mercantile Exchange. |
|  Eurex | European Derivatives Exchange. |
|  Euronext | European New Exchange Technology. |
|  FinEx | Financial Instruments Exchange. |
|  HKG | Hong Kong Exchange. |
|  ICE | Intercontinental Exchange. |
|  JSE | Johannesburg Stock Exchange. |
|  KFE | Korea Exchange - KOFEX. |
|  LME | London Metal Exchange. |
|  MDE | Malaysian Derivative Exchange. |
|  MIAX | Miami International Securities Exchange |
|  NSE | National Stock Exchange. |
|  NYMEX | New York Mercantile Exchange. |
|  OML | OMLX: London Securities & Derivatives Exchange. |
|  SAFEX | South African Futures Exchange. |
|  SFE | Sydney Futures Exchange. |
|  SGX | Singapore Stock Exchange. |

---

*See accompanying notes* 

------

**American Beacon AHL Managed Futures Strategy Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

**<u>Exchange Abbreviations: (continued)</u>**

TSE Tokyo Stock Exchange. <br> WCE Winnipeg Commodity Exchange.

**<u>Other Abbreviations:</u>**

---

| | |
|:---|:---|
|  BOBL | Medium term debt that is issued by the Federal Republic of Germany. |
|  BTP | Buoni del Tesoro Poliennali. |
|  BUND | German Federal Government Bond. |
|  Buxl | Long term debt that is issued by the Federal Republic of Germany. |
|  COMEX | The Commodity Exchange Inc. |
|  CORRA | Canadian Overnight Repo Rate Average. |
|  CSC | CEI: Coffee, Sugar and Cocoa. |
|  CTN | Cotton. |
|  EURIBOR | Euro Interbank Offered Rate. |
|  Gilt | Bank of England Bonds. |
|  IFSC | Indian Financial System Code. |
|  KCBT | The Kansas City Board of Trade. |
|  NYBOT | New York Board of Trade. |
|  RBOB | Reformulated Gasoline Blendstock for Oxygen Blending. |
|  SCHATZ | Short-dated equivalent of the Bobl and Bund futures. |
|  SOFR | Secured Overnight Financing Rate. |
|  SONIA | Sterling Overnight Index Average. |
|  ULSD | Ultra-low-sulfur diesel. |

---

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **AHL Managed Futures Strategy Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Short-Term Investments | $— | $1509353470 | $— | $1509353470 |
|  Total Investments in Securities - Assets | $— | $1509353470 | $— | $1509353470 |
|  ***Financial Derivative Instruments - Assets*** |  |  |  |  |
|  Futures Contracts | $43716817 | $— | $— | $43716817 |
|  Forward Foreign Currency Contracts |  | 28770606 |  | 28770606 |
|  Total Financial Derivative Instruments - Assets | $43716817 | $28770606 | $— | $72487423 |
|  ***Financial Derivative Instruments - Liabilities*** |  |  |  |  |
|  Futures Contracts | $(14933078) | $— | $— | $(14933078) |
|  Forward Foreign Currency Contracts |  | (27854535) |  | (27854535) |
|  Total Financial Derivative Instruments - Liabilities | $(14933078) | $(27854535) | $— | $(42787613) |

---

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal Amount** | **Principal Amount** | **Fair Value** |
|  FOREIGN SOVEREIGN OBLIGATIONS - 18.0% |  |  |  |
|  French Republic Government Bonds OAT, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100%, Due 7/25/2036<sup>A B</sup> | EUR | 3144925 | $3160876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.100%, Due 7/25/2053<sup>A B</sup> |  | 1798005 | 1261678 |
|  Italy Buoni Poliennali Del Tesoro, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.400%, Due 5/15/2030<sup>A B</sup> |  | 1856745 | 2124752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.100%, Due 8/15/2031<sup>A B</sup> |  | 500325 | 585084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.800%, Due 5/15/2036<sup>A B C</sup> |  | 4138880 | 4810500 |
|  U.K. Inflation-Linked Gilts, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, Due 9/22/2035<sup>A B</sup> | GBP | 7279160 | 9426422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.625%, Due 3/22/2045<sup>A B</sup> |  | 1675275 | 1713159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.250%, Due 11/22/2054<sup>A B</sup> |  | 1610490 | 1727485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Sovereign Obligations (Cost $24,692,961)** |  |  | **24809956** |
|  U.S. TREASURY OBLIGATIONS - 28.2% |  |  |  |
|  U.S. Treasury Inflation-Indexed Bonds, 2.375%, Due 2/15/2055<sup>A</sup> | $— | 3091890 | **2873132** |
|  U.S. Treasury Inflation-Indexed Notes, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.625%, Due 4/15/2030<sup>A</sup> |  | 9194610 | 9286052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.125%, Due 10/15/2030<sup>A</sup> |  | 7540500 | 7472821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, Due 7/15/2035<sup>A</sup> |  | 17724230 | 17637110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.875%, Due 1/15/2036<sup>A</sup> |  | 1501290 | 1483163 |
|  |  |  | **35879146** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total U.S. Treasury Obligations (Cost $39,230,492)** |  |  | **38752278** |
|  SHORT-TERM INVESTMENTS - 41.2% |  |  |  |
|  **U.S. Treasury Obligations - 41.2%** |  |  |  |
|  U.S. Treasury Bills, |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.609%, Due 4/16/2026<sup>C D E</sup> |  | 6000000 | 5990935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.680%, Due 5/14/2026<sup>D E</sup> |  | 34000000 | 33852157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.646%, Due 6/4/2026<sup>C D E</sup> |  | 6000000 | 5961453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.652%, Due 7/9/2026<sup>C D E</sup> |  | 6000000 | 5940509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.704%, Due 9/3/2026<sup>C D E</sup> |  | 5000000 | 4922659 |
|  |  |  | **56667713** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Short-Term Investments (Cost $56,671,393)** |  |  | **56667713** |
|  **TOTAL INVESTMENTS - 87.4% (Cost $120,594,846)** |  |  | **120229947** |
|  **OTHER ASSETS, NET OF LIABILITIES - 12.6%** |  |  | **17332458** |
|  **TOTAL NET ASSETS - 100.0%** |  |  | $**137562405** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Inflation-Indexed Note.

<sup>B</sup> Reg S - Security purchased under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. 

<sup>C</sup> All or a portion represents positions held by the American Beacon Cayman TargetRisk Company, Ltd.

<sup>D</sup> Coupon represents a weighted average yield to maturity.

<sup>E</sup> Zero coupon bond.

***Long Futures Contracts Open on March 31, 2026:***

**Equity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  Borsa Italiana FTSE/MIB Index Futures | 4 | June 2026 | $1023598 | $1007347 | $(16251) |
|  CME E-Mini NASDAQ 100 Index Futures | 5 | June 2026 | 2472208 | 2391500 | (80708) |
|  CME E-Mini Standard & Poor's 500 Index Futures | 14 | June 2026 | 4687229 | 4599525 | (87704) |
|  Eurex DAX Index Futures | 2 | June 2026 | 1375162 | 1319808 | (55354) |
|  Eurex EURO STOXX 50 Futures | 29 | June 2026 | 1904195 | 1841905 | (62290) |
|  Eurex STOXX Europe 600 ESG-X Index Futures | 2 | June 2026 | 49610 | 47875 | (1735) |
|  Euronext CAC 40 Index Futures | 12 | April 2026 | 1106931 | 1085343 | (21588) |

---

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Long Futures Contracts Open on March 31, 2026 (continued):***

**Equity Futures Contracts (continued)** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  HKG Hang Seng China Enterprises Index Futures | 12 | April 2026 | $648374 | $639469 | $(8905) |
|  HKG Hang Seng Index Futures | 5 | April 2026 | 795998 | 789261 | (6737) |
|  ICE FTSE 100 Index Futures | 18 | June 2026 | 2470304 | 2429892 | (40412) |
|  KFE KOSPI 200 Index Futures | 4 | June 2026 | 552921 | 489178 | (63743) |
|  Montreal Exchange S&P/TSX 60 Index Futures | 9 | June 2026 | 2449523 | 2468579 | 19056 |
|  NSE IFSC NIFTY 50 Index Futures | 2 | April 2026 | 93596 | 89926 | (3670) |
|  OML Stockholm OMXS30 Index Futures | 35 | April 2026 | 1108033 | 1079579 | (28454) |
|  SAFEX FTSE/JSE Top 40 Index Futures | 4 | June 2026 | 257939 | 252667 | (5272) |
|  SFE S&P ASX Share Price Index 200 Futures | 13 | June 2026 | 1939411 | 1908902 | (30509) |
|  SGX FTSE China A50 Futures Contract | 71 | April 2026 | 1033732 | 1032056 | (1676) |
|  SGX FTSE Taiwan Index Futures | 4 | April 2026 | 436299 | 413280 | (23019) |
|  SGX MSCI Singapore Index Futures | 13 | April 2026 | 440193 | 441456 | 1263 |
|  SGX Nikkei 225 Stock Index Futures | 8 | June 2026 | 1371642 | 1293721 | (77921) |
|  TSE TOPIX Futures | 10 | June 2026 | 2300256 | 2207870 | (92386) |
|  |  |  | $28517154 | $27829139 | $(688015) |

---

***Centrally Cleared Swap Agreements Outstanding on March 31, 2026:***

**Credit Default Swaps on Credit Indices - Buy Protection<sup>(1)</sup>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>Rate (%)** | **Payment<br>Frequency** | **Expiration<br>Date** | **Implied Credit<br>Spread at<br>3/31/2026<sup>(2)</sup><br>(%)** | **Curr** | **Notional<br>Amount<sup>(3)</sup><br>(000s)** | **Premiums<br>Paid<br>(Received)** | **Fair<br>Value<sup>(4)</sup>** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX.NA.HY.S45 | 5.00 | Quarterly | 12/20/2030 | 3.6402 | USD | 4950 | $(224939) | $(270588) | $(45649) |
|  |  |  |  |  |  |  | $(224939) | $(270588) | $(45649) |

---

**Credit Default Swaps on Credit Indices - Sell Protection<sup>(5)</sup>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Index/Tranches** | **Fixed<br>Rate (%)** | **Payment<br>Frequency** | **Expiration<br>Date** | **Implied Credit<br>Spread at<br>3/31/2026<sup>(2)</sup><br>(%)** | **Curr** | **Notional<br>Amount<sup>(3)</sup><br>(000s)** | **Premiums<br>Paid<br>(Received)** | **Fair Value<sup>(4)</sup>** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CDX.NA.HY.S45 | 5.00 | Quarterly | 12/20/2030 | 3.6402 | USD | 4950 | $233123 | $270588 | $37465 |
|  iTraxx Europe S45 | 1.00 | Quarterly | 6/20/2031 | 0.7135 | EUR | 10000 | 150277 | 162443 | 12166 |
|  iTraxx Europe Crossover S45 | 5.00 | Quarterly | 6/20/2031 | 3.5279 | EUR | 5000 | 310273 | 372031 | 61758 |
|  CDX.NA.IG.S46 | 1.00 | Quarterly | 6/20/2031 | 0.6305 | USD | 10000 | 156117 | 176214 | 20097 |
|  CDX.NA.HY.S46 | 5.00 | Quarterly | 6/20/2031 | 3.8482 | USD | 5000 | 197418 | 249674 | 52256 |
|  |  |  |  |  |  |  | $1047208 | $1230950 | $183742 |

---

***OTC Swap Agreements Outstanding on March 31, 2026:***

**Total Return Swaps Agreements** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Pay/Receive<br>Floating Rate** | <br>**Description** |<br>**Reference<br>Entity** |<br>**Counter-<br>party** |<br>**Floating<br>Rate** |<br>**Payment<br>Frequency** |<br>**Expiration<br>Date** |<br>**Reference<br>Quantity** |<br>**Notional<br>Amount** | **Premiums**<br>**Paid<br>(Received)** | **Unrealized**<br>**Appreciation<br>(Depreciation)** |
|  Pay | 1-Month USD-LIBOR | BBUXALC<br>INDEX | JPM | 0.000% | Maturity | 4/2/2026 | 31000 | $5552348 | $8519 | $364039 |
|  |  |  |  |  |  |  |  |  | $8519 | $364039 |

---

<sup>(1)</sup> If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. 

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

<sup>(2)</sup> Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swaps agreements on corporate issues and sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(3)</sup> The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. 

<sup>(4)</sup> The quoted market prices and resulting values for credit default swaps on asset-backed securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/ sold as of the period end. Increasing fair values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. 

<sup>(5)</sup> If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. 

***Forward Foreign Currency Contracts Open on March 31, 2026:***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased\*** | **Currency Purchased\*** | **Currency Sold\*** | **Currency Sold\*** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| GBP | 47775 | USD | 48392 | 4/16/2026 | SSB | $— | $(617) | $(617) |
| GBP | 50730 | USD | 51319 | 4/16/2026 | SSB |  | (589) | (589) |
| USD | 42060 | EUR | 42192 | 4/16/2026 | SSB |  | (132) | (132) |
| USD | 44488 | CAD | 43796 | 4/16/2026 | SSB | 692 |  | 692 |
| USD | 46174 | JPY | 46426 | 4/16/2026 | SSB |  | (252) | (252) |
| USD | 46312 | EUR | 46126 | 4/16/2026 | SSB | 186 |  | 186 |
| USD | 46380 | EUR | 46676 | 4/16/2026 | SSB |  | (296) | (296) |
| USD | 47870 | JPY | 47854 | 4/16/2026 | SSB | 16 |  | 16 |
| USD | 54034 | SEK | 52708 | 4/16/2026 | SSB | 1326 |  | 1326 |
| USD | 54799 | GBP | 54212 | 4/16/2026 | SSB | 587 |  | 587 |
| EUR | 65295 | USD | 65141 | 4/16/2026 | SSB | 154 |  | 154 |
| GBP | 75448 | USD | 76120 | 4/16/2026 | SSB |  | (672) | (672) |
| USD | 57166 | AUD | 56010 | 4/16/2026 | SSB | 1156 |  | 1156 |
| EUR | 67755 | USD | 67417 | 4/16/2026 | SSB | 338 |  | 338 |
| USD | 60104 | HKD | 60040 | 4/16/2026 | SSB | 64 |  | 64 |
| USD | 60785 | EUR | 60703 | 4/16/2026 | SSB | 82 |  | 82 |
| USD | 62299 | HKD | 62229 | 4/16/2026 | SSB | 70 |  | 70 |
| EUR | 72865 | USD | 73175 | 4/16/2026 | SSB |  | (310) | (310) |
| GBP | 83589 | USD | 84200 | 4/16/2026 | SSB |  | (611) | (611) |
| USD | 63511 | JPY | 63450 | 4/16/2026 | SSB | 61 |  | 61 |
| USD | 67106 | EUR | 67497 | 4/16/2026 | SSB |  | (391) | (391) |
| USD | 69858 | AUD | 68679 | 4/16/2026 | SSB | 1179 |  | 1179 |
| USD | 72147 | JPY | 72267 | 4/16/2026 | SSB |  | (120) | (120) |
| USD | 80137 | GBP | 80039 | 4/16/2026 | SSB | 98 |  | 98 |
| EUR | 99180 | USD | 99015 | 4/16/2026 | SSB | 165 |  | 165 |
| USD | 87500 | EUR | 87618 | 4/16/2026 | SSB |  | (118) | (118) |
| USD | 94749 | CAD | 92904 | 4/16/2026 | SSB | 1845 |  | 1845 |
| AUD | 65907 | USD | 68058 | 4/16/2026 | SSB |  | (2151) | (2151) |
| GBP | 129323 | USD | 131389 | 4/16/2026 | SSB |  | (2066) | (2066) |
| USD | 98012 | SEK | 96632 | 4/16/2026 | SSB | 1380 |  | 1380 |
| USD | 103286 | CAD | 101888 | 4/16/2026 | SSB | 1398 |  | 1398 |
| USD | 104008 | CAD | 102721 | 4/16/2026 | SSB | 1287 |  | 1287 |
| EUR | 120495 | USD | 120718 | 4/16/2026 | SSB |  | (223) | (223) |
| EUR | 122514 | USD | 122322 | 4/16/2026 | SSB | 192 |  | 192 |
| USD | 106320 | JPY | 106640 | 4/16/2026 | SSB |  | (320) | (320) |
| USD | 107857 | GBP | 106355 | 4/16/2026 | SSB | 1502 |  | 1502 |
| USD | 110750 | EUR | 111572 | 4/16/2026 | SSB |  | (822) | (822) |
| AUD | 77121 | USD | 77566 | 4/16/2026 | SSB |  | (445) | (445) |
| USD | 112781 | CAD | 109820 | 4/16/2026 | SSB | 2961 |  | 2961 |
| EUR | 137575 | USD | 137880 | 4/16/2026 | SSB |  | (305) | (305) |
| CAD | 86206 | USD | 87655 | 4/16/2026 | SSB |  | (1449) | (1449) |
| USD | 120957 | JPY | 121034 | 4/16/2026 | SSB |  | (77) | (77) |
| USD | 127105 | GBP | 125868 | 4/16/2026 | SSB | 1237 |  | 1237 |
| CAD | 99213 | USD | 99791 | 4/16/2026 | SSB |  | (578) | (578) |
| CAD | 104993 | USD | 106264 | 4/16/2026 | SSB |  | (1271) | (1271) |

---

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

***Forward Foreign Currency Contracts Open on March 31, 2026 (continued):***

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency Purchased\*** | **Currency Purchased\*** | **Currency Sold\*** | **Currency Sold\*** | **Settlement Date** | **Counterparty** | **Unrealized<br>Appreciation** | **Unrealized<br>(Depreciation)** | **Net Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 154006 | AUD | 149485 | 4/16/2026 | SSB | $4521 | $— | $4521 |
| EUR | 179401 | USD | 178980 | 4/16/2026 | SSB | 421 |  | 421 |
| CAD | 127426 | USD | 130692 | 4/16/2026 | SSB |  | (3266) | (3266) |
| USD | 188610 | GBP | 187069 | 4/16/2026 | SSB | 1541 |  | 1541 |
| EUR | 221550 | USD | 219616 | 4/16/2026 | SSB | 1934 |  | 1934 |
| AUD | 141846 | USD | 144707 | 4/16/2026 | SSB |  | (2861) | (2861) |
| EUR | 238268 | USD | 238545 | 4/16/2026 | SSB |  | (277) | (277) |
| USD | 211239 | JPY | 209667 | 4/16/2026 | SSB | 1572 |  | 1572 |
| EUR | 249007 | USD | 250980 | 4/16/2026 | SSB |  | (1973) | (1973) |
| USD | 230975 | EUR | 230900 | 4/16/2026 | SSB | 75 |  | 75 |
| USD | 244227 | JPY | 242414 | 4/16/2026 | SSB | 1813 |  | 1813 |
| USD | 348847 | EUR | 348282 | 4/16/2026 | SSB | 565 |  | 565 |
| EUR | 462564 | USD | 459892 | 4/16/2026 | SSB | 2672 |  | 2672 |
| HKD | 53109 | USD | 53244 | 4/16/2026 | SSB |  | (135) | (135) |
| SEK | 46104 | USD | 46887 | 4/16/2026 | SSB |  | (783) | (783) |
| GBP | 578650 | USD | 585186 | 4/16/2026 | SSB |  | (6536) | (6536) |
| SEK | 47083 | USD | 47439 | 4/16/2026 | SSB |  | (356) | (356) |
| GBP | 661158 | USD | 661380 | 4/16/2026 | SSB |  | (222) | (222) |
| HKD | 65090 | USD | 65345 | 4/16/2026 | SSB |  | (255) | (255) |
| HKD | 65113 | USD | 65211 | 4/16/2026 | SSB |  | (98) | (98) |
| EUR | 609740 | USD | 609875 | 4/16/2026 | SSB |  | (135) | (135) |
| GBP | 718269 | USD | 722211 | 4/16/2026 | SSB |  | (3942) | (3942) |
| EUR | 675304 | USD | 673308 | 4/16/2026 | SSB | 1996 |  | 1996 |
| HKD | 80378 | USD | 80651 | 4/16/2026 | SSB |  | (273) | (273) |
| USD | 638829 | EUR | 643080 | 4/16/2026 | SSB |  | (4251) | (4251) |
| EUR | 858492 | USD | 858511 | 4/16/2026 | SSB |  | (19) | (19) |
| HKD | 103042 | USD | 103519 | 4/16/2026 | SSB |  | (477) | (477) |
| EUR | 1015494 | USD | 1018466 | 4/16/2026 | SSB |  | (2972) | (2972) |
| EUR | 1105724 | USD | 1101842 | 4/16/2026 | SSB | 3882 |  | 3882 |
| USD | 1121792 | KRW | 1082948 | 4/16/2026 | SSB | 38844 |  | 38844 |
| USD | 1152361 | EUR | 1156614 | 4/16/2026 | SSB |  | (4253) | (4253) |
| USD | 1883067 | JPY | 1877314 | 4/16/2026 | SSB | 5753 |  | 5753 |
| USD | 5511398 | EUR | 5487651 | 4/16/2026 | SSB | 23747 |  | 23747 |
| JPY | 44768 | USD | 44867 | 4/16/2026 | SSB |  | (99) | (99) |
| JPY | 59882 | USD | 59827 | 4/16/2026 | SSB | 55 |  | 55 |
| JPY | 65098 | USD | 64996 | 4/16/2026 | SSB | 102 |  | 102 |
| JPY | 67298 | USD | 67001 | 4/16/2026 | SSB | 297 |  | 297 |
| USD | 11223349 | EUR | 11174991 | 4/16/2026 | SSB | 48358 |  | 48358 |
| JPY | 70809 | USD | 70814 | 4/16/2026 | SSB |  | (5) | (5) |
| JPY | 71753 | USD | 71772 | 4/16/2026 | SSB |  | (19) | (19) |
| USD | 15476571 | GBP | 15253701 | 4/16/2026 | SSB | 222870 |  | 222870 |
| JPY | 100390 | USD | 100408 | 4/16/2026 | SSB |  | (18) | (18) |
| JPY | 109045 | USD | 108454 | 4/16/2026 | SSB | 591 |  | 591 |
| JPY | 115119 | USD | 115427 | 4/16/2026 | SSB |  | (308) | (308) |
| JPY | 219005 | USD | 220542 | 4/16/2026 | SSB |  | (1537) | (1537) |
| JPY | 284025 | USD | 286487 | 4/16/2026 | SSB |  | (2462) | (2462) |
| JPY | 1242389 | USD | 1246675 | 4/16/2026 | SSB |  | (4286) | (4286) |
|  |  |  |  |  |  | $379585 | $(55633) | $323952 |

---

\* *All values denominated in USD.*

***Glossary:***

**<u>Counterparty Abbreviations:</u>**

JPM JPMorgan Chase Bank, N.A. <br> SSB State Street Bank & Trust Co.

**<u>Currency Abbreviations:</u>**

---

| | |
|:---|:---|
|  AUD | Australian Dollar |
|  CAD | Canadian Dollar |
|  EUR | Euro |

---

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

**<u>Currency Abbreviations: (continued)</u>**

---

| | |
|:---|:---|
|  GBP | British Pound |
|  HKD | Hong Kong Dollar |
|  JPY | Japanese Yen |
|  KRW | South Korean Won |
|  SEK | Swedish Krona |
|  USD | United States Dollar |

---

**<u>Index Abbreviations:</u>**

---

| | |
|:---|:---|
|  BBUXALC | Bloomberg Commodity ex-Agriculture and Livestock Capped Index. |
|  CAC 40 | Euronet Paris - French Stock Market Index. |
|  DAX | Deutsche Boerse AG German Stock Index. |
|  EURO STOXX 50 | Eurozone Blue-chip Index. |
|  FTSE 100 | Financial Times Stock Exchange 100 Index. |
|  FTSE China A50 | Financial Times Stock Exchange China A50 Index. |
|  FTSE/JSE Top 40 | Largest 40 companies ranked by full market value in the FTSE/JSE All-Share Index. |
|  FTSE/MIB | Borsa Italiana-Italian Stock Market Index. |
|  Hang Seng | Hong Kong Stock Market Index. |
|  KOSPI | South Korean Stock Market Index. |
|  NASDAQ | National Association of Securities Dealers Automated Quotations. |
|  Nifty 50 | National Stock Exchange FIFTY. |
|  NIKKEI 225 | Nikkei Stock Average. |
|  OMXS30 | Stockholm Stock Exchange's leading share index. |
|  S&P/TSX | Canadian Equity Market Index. |
|  Stoxx Europe 600 | Europe Total Market Index. |
|  TOPIX | Tokyo Stock Exchange Tokyo Price Index. |

---

**<u>Exchange Abbreviations:</u>**

---

| | |
|:---|:---|
|  ASX | Australian Securities Exchange. |
|  CME | Chicago Mercantile Exchange. |
|  Eurex | European Derivatives Exchange. |
|  Euronext | European New Exchange Technology. |
|  HKG | Hong Kong Exchange. |
|  ICE | Intercontinental Exchange. |
|  JSE | Johannesburg Stock Exchange. |
|  KFE | Korea Exchange - KOFEX. |
|  NSE | National Stock Exchange. |
|  OML | OMLX: London Securities & Derivatives Exchange. |
|  SAFEX | South African Futures Exchange. |
|  SFE | Sydney Futures Exchange. |
|  SGX | Singapore Stock Exchange. |
|  TSE | Tokyo Stock Exchange. |

---

**<u>Other Abbreviations:</u>**

---

| | |
|:---|:---|
|  CDX | Credit Default Swap Index. |
|  IFSC | Indian Financial System Code. |
|  iTraxx | Credit Default Swap Index. |
|  LIBOR | London International Offered Rate. |
|  OAT | Obligations Assimilables du Tresor. |
|  OTC | Over-the-Counter. |

---

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **AHL TargetRisk Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Foreign Sovereign Obligations | $— | $24809956 | $– | $24809956 |
|  U.S. Treasury Obligations |  | 38752278 |  | 38752278 |
|  Short-Term Investments |  | 56667713 |  | 56667713 |
|  Total Investments in Securities - Assets | $— | $120229947 | $— | $120229947 |
|  ***Financial Derivative Instruments - Assets*** |  |  |  |  |
|  Futures Contracts | $20319 | $— | $— | $20319 |
|  Swap Contract Agreements |  | 547781 |  | 547781 |

---

*See accompanying notes* 

------

**American Beacon AHL TargetRisk Fund<sup>SM</sup>** 

**Consolidated Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **AHL TargetRisk Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Financial Derivative Instruments - Assets (continued)*** |  |  |  |  |
|  Forward Foreign Currency Contracts | $— | $379585 | $— | $379585 |
|  Total Financial Derivative Instruments - Assets | $20319 | $927366 | $— | $947685 |
|  ***Financial Derivative Instruments - Liabilities*** |  |  |  |  |
|  Futures Contracts | $(708334) | $— | $— | $(708334) |
|  Swap Contract Agreements |  | (45649) |  | (45649) |
|  Forward Foreign Currency Contracts |  | (55633) |  | (55633) |
|  Total Financial Derivative Instruments - Liabilities | $(708334) | $(101282) | $— | $(809616) |

---

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon Man Large Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.6% |  |  |
|  **Communication Services - 15.2%** |  |  |
|  **Entertainment - 2.3%** |  |  |
|  Netflix, Inc.<sup>A</sup> | 28240 | $2715276 |
|  Roku, Inc.<sup>A</sup> | 13600 | 1286832 |
|  |  | **4002108** |
|  **Interactive Media & Services - 12.9%** |  |  |
|  Alphabet, Inc., Class A | 52250 | 15025010 |
|  Meta Platforms, Inc., Class A | 11690 | 6688200 |
|  Pinterest, Inc., Class A<sup>A</sup> | 48500 | 889490 |
|  |  | **22602700** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | **26604808** |
|  **Consumer Discretionary - 5.3%** |  |  |
|  **Broadline Retail - 3.9%** |  |  |
|  Amazon.com, Inc.<sup>A</sup> | 33000 | **6872910** |
|  **Hotels, Restaurants & Leisure - 1.4%** |  |  |
|  Booking Holdings, Inc. | 570 | **2399882** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | **9272792** |
|  **Consumer Staples - 2.1%** |  |  |
|  **Consumer Staples Distribution & Retail - 2.1%** |  |  |
|  Costco Wholesale Corp. | 2750 | 2740182 |
|  Sprouts Farmers Market, Inc.<sup>A</sup> | 12000 | 925560 |
|  |  | **3665742** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | **3665742** |
|  **Financials - 4.1%** |  |  |
|  **Financial Services - 3.7%** |  |  |
|  Mastercard, Inc., Class A | 13090 | **6540550** |
|  **Insurance - 0.4%** |  |  |
|  Aon PLC, Class A | 2140 | **690749** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | **7231299** |
|  **Health Care - 12.4%** |  |  |
|  **Biotechnology - 5.4%** |  |  |
|  AbbVie, Inc. | 17900 | 3893071 |
|  Exelixis, Inc.<sup>A</sup> | 26700 | 1145163 |
|  Incyte Corp.<sup>A</sup> | 21300 | 2004756 |
|  Natera, Inc.<sup>A</sup> | 2800 | 559972 |
|  Neurocrine Biosciences, Inc.<sup>A</sup> | 6500 | 856310 |
|  Regeneron Pharmaceuticals, Inc. | 1420 | 1097149 |
|  |  | **9556421** |
|  **Health Care Providers & Services - 2.9%** |  |  |
|  Cardinal Health, Inc. | 6100 | 1288991 |
|  McKesson Corp. | 4370 | 3781623 |
|  |  | **5070614** |
|  **Health Care Technology - 1.4%** |  |  |
|  Veeva Systems, Inc., Class A<sup>A</sup> | 13700 | **2406542** |
|  **Pharmaceuticals - 2.7%** |  |  |
|  Merck & Co., Inc. | 30500 | 3668845 |

---

*See accompanying notes* 

------

**American Beacon Man Large Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.6% (continued) |  |  |
|  **Health Care - 12.4% (continued)** |  |  |
|  **Pharmaceuticals - 2.7% (continued)** |  |  |
|  Zoetis, Inc. | 8400 | $992964 |
|  |  | **4661809** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | **21695386** |
|  **Industrials - 4.6%** |  |  |
|  **Aerospace & Defense - 0.4%** |  |  |
|  Rocket Lab Corp.<sup>A</sup> | 11600 | **744952** |
|  **Building Products - 1.3%** |  |  |
|  Trane Technologies PLC | 5590 | **2329577** |
|  **Construction & Engineering - 1.4%** |  |  |
|  EMCOR Group, Inc. | 3210 | **2369975** |
|  **Ground Transportation - 1.5%** |  |  |
|  Lyft, Inc., Class A<sup>A</sup> | 25700 | 341810 |
|  Uber Technologies, Inc.<sup>A</sup> | 31900 | 2294567 |
|  |  | **2636377** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | **8080881** |
|  **Information Technology - 53.0%** |  |  |
|  **Communications Equipment - 1.9%** |  |  |
|  Arista Networks, Inc.<sup>A</sup> | 26840 | **3295415** |
|  **Electronic Equipment, Instruments & Components - 1.0%** |  |  |
|  Amphenol Corp., Class A | 13600 | **1718360** |
|  **IT Services - 2.3%** |  |  |
|  GoDaddy, Inc., Class A<sup>A</sup> | 10800 | 892836 |
|  Okta, Inc.<sup>A</sup> | 18900 | 1487619 |
|  Twilio, Inc., Class A<sup>A</sup> | 12900 | 1623078 |
|  |  | **4003533** |
|  **Semiconductors & Semiconductor Equipment - 24.0%** |  |  |
|  Advanced Micro Devices, Inc.<sup>A</sup> | 24900 | 5065407 |
|  Applied Materials, Inc. | 17060 | 5830938 |
|  Astera Labs, Inc.<sup>A</sup> | 6800 | 745280 |
|  Broadcom, Inc. | 12920 | 3998869 |
|  Lam Research Corp. | 18500 | 3952710 |
|  Marvell Technology, Inc. | 31000 | 3070550 |
|  NVIDIA Corp. | 63300 | 11039520 |
|  Onto Innovation, Inc.<sup>A</sup> | 10700 | 2194249 |
|  QUALCOMM, Inc. | 18600 | 2395308 |
|  Teradyne, Inc. | 12900 | 3824334 |
|  |  | **42117165** |
|  **Software - 16.5%** |  |  |
|  Adobe, Inc.<sup>A</sup> | 9200 | 2236336 |
|  Atlassian Corp., Class A<sup>A</sup> | 15800 | 1078350 |
|  Autodesk, Inc.<sup>A</sup> | 4600 | 1101240 |
|  Cadence Design Systems, Inc.<sup>A</sup> | 7380 | 2050680 |
|  Dynatrace, Inc.<sup>A</sup> | 35500 | 1312790 |
|  Fortinet, Inc.<sup>A</sup> | 50200 | 4102344 |
|  HubSpot, Inc.<sup>A</sup> | 5170 | 1261997 |
|  Intuit, Inc. | 4670 | 2019215 |
|  Manhattan Associates, Inc.<sup>A</sup> | 6000 | 798720 |
|  Microsoft Corp. | 20990 | 7769868 |
|  Nutanix, Inc., Class A<sup>A</sup> | 11300 | 429513 |
|  Salesforce, Inc. | 11490 | 2144838 |

---

*See accompanying notes* 

------

**American Beacon Man Large Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.6% (continued) |  |  |
|  **Information Technology - 53.0% (continued)** |  |  |
|  **Software - 16.5% (continued)** |  |  |
|  ServiceNow, Inc.<sup>A</sup> | 15285 | $1598047 |
|  Workday, Inc., Class A<sup>A</sup> | 7000 | 909440 |
|  |  | **28813378** |
|  **Technology Hardware, Storage & Peripherals - 7.3%** |  |  |
|  Apple, Inc. | 35310 | 8961325 |
|  Everpure, Inc., Class A<sup>A</sup> | 31100 | 1836144 |
|  NetApp, Inc. | 20200 | 2068278 |
|  |  | **12865747** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | **92813598** |
|  **Utilities - 0.9%** |  |  |
|  **Independent Power & Renewable Electricity Producers - 0.9%** |  |  |
|  Vistra Corp. | 10900 | **1638597** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $122,516,249)** |  | **171003103** |
|  RIGHTS - 0.0% (Cost $4,590) |  |  |
|  **Health Care - 0.0%** |  |  |
|  ABIOMED, Inc.<sup>A B C</sup> | 4500 | **0** |
|  SHORT-TERM INVESTMENTS - 2.0% (Cost $3,485,333) |  |  |
|  **Investment Companies - 2.0%** |  |  |
|  American Beacon U.S. Government Money Market Select Fund, 3.56%<sup>D E</sup> | 3485333 | **3485333** |
|  **TOTAL INVESTMENTS - 99.6% (Cost $126,006,172)** |  | **174488436** |
|  **OTHER ASSETS, NET OF LIABILITIES - 0.4%** |  | **635306** |
|  **TOTAL NET ASSETS - 100.0%** |  | $**175123742** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Non-income producing security.

<sup>B</sup> Security has been fair valued pursuant to the Manager's procedures related to pricing that is not available after the close of exchange or the available price does not reflect the security's true market value. At period end, the value of these securities amounted to $0 or 0.0% of net assets. 

<sup>C</sup> Value was determined using significant unobservable inputs.

<sup>D</sup> The Fund is affiliated by having the same investment advisor.

<sup>E</sup> 7-day yield.

PLC - Public Limited Company.

***Long Futures Contracts Open on March 31, 2026:***

**Equity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CME E-Mini S&P 500 Index Futures | 12 | June 2026 | $3986136 | $3942450 | $(43686) |
|  |  |  | $3986136 | $3942450 | $(43686) |

---

***Glossary:***

**<u>Index Abbreviations:</u>**

S&P 500 Standard & Poor's 500 Index - U.S. Equity Large-Cap Index.

*See accompanying notes* 

------

**American Beacon Man Large Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

**<u>Exchange Abbreviations:</u>**

CME Chicago Mercantile Exchange.

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Man Large Cap Growth Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Common Stocks | $171003103 | $— | $— | $171003103 |
|  Rights |  |  | 0<sup>(1)</sup> | 0<sup>(1)</sup> |
|  Short-Term Investments | 3485333 |  |  | 3485333 |
|  Total Investments in Securities - Assets | $174488436 | $— | $0<sup>(1)</sup> | $174488436 |
|  ***Financial Derivative Instruments - Liabilities*** |  |  |  |  |
|  Futures Contracts | $(43686) | $— | $— | $(43686) |
|  Total Financial Derivative Instruments - Liabilities | $(43686) | $— | $— | $(43686) |

---

<sup>(1)</sup> *Includes investments held in the Fund's portfolio with $0 fair value.* 

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no material transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon Man Large Cap Value Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.1% |  |  |
|  **Communication Services - 5.5%** |  |  |
|  **Interactive Media & Services - 3.9%** |  |  |
|  Alphabet, Inc., Class A | 23800 | $6843928 |
|  Match Group, Inc. | 34700 | 1065637 |
|  Meta Platforms, Inc., Class A | 1450 | 829588 |
|  |  | **8739153** |
|  **Media - 1.6%** |  |  |
|  Fox Corp., Class B | 36200 | 1922220 |
|  New York Times Co., Class A | 19900 | 1666227 |
|  |  | **3588447** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | **12327600** |
|  **Consumer Discretionary - 4.3%** |  |  |
|  **Automobile Components - 1.9%** |  |  |
|  BorgWarner, Inc. | 51100 | 2772686 |
|  Lear Corp. | 12500 | 1513500 |
|  |  | **4286186** |
|  **Broadline Retail - 2.2%** |  |  |
|  eBay, Inc. | 54100 | **4924182** |
|  **Hotels, Restaurants & Leisure - 0.2%** |  |  |
|  Booking Holdings, Inc. | 136 | **572604** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | **9782972** |
|  **Consumer Staples - 0.9%** |  |  |
|  **Beverages - 0.3%** |  |  |
|  Coca-Cola Consolidated, Inc. | 3300 | **632742** |
|  **Food Products - 0.6%** |  |  |
|  Ingredion, Inc. | 13000 | **1464580** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Staples** |  | **2097322** |
|  **Energy - 1.2%** |  |  |
|  **Energy Equipment & Services - 0.6%** |  |  |
|  SLB Ltd. | 26100 | **1341279** |
|  **Oil, Gas & Consumable Fuels - 0.6%** |  |  |
|  EOG Resources, Inc. | 9900 | **1431243** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | **2772522** |
|  **Financials - 24.3%** |  |  |
|  **Banks - 3.6%** |  |  |
|  Citigroup, Inc. | 27400 | 3107434 |
|  Citizens Financial Group, Inc. | 84100 | 5043477 |
|  |  | **8150911** |
|  **Capital Markets - 3.2%** |  |  |
|  Charles Schwab Corp. | 27400 | 2575052 |
|  FactSet Research Systems, Inc. | 4600 | 998154 |
|  Northern Trust Corp. | 17600 | 2456432 |
|  SEI Investments Co. | 14500 | 1137815 |
|  |  | **7167453** |
|  **Consumer Finance - 3.8%** |  |  |
|  Ally Financial, Inc. | 94300 | 3699389 |

---

*See accompanying notes* 

------

**American Beacon Man Large Cap Value Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.1% (continued) |  |  |
|  **Financials - 24.3% (continued)** |  |  |
|  **Consumer Finance - 3.8% (continued)** |  |  |
|  Capital One Financial Corp. | 26000 | $4743180 |
|  |  | **8442569** |
|  **Financial Services - 2.2%** |  |  |
|  Berkshire Hathaway, Inc., Class B<sup>A</sup> | 4560 | 2185152 |
|  PayPal Holdings, Inc. | 34100 | 1542343 |
|  Voya Financial, Inc. | 19100 | 1304912 |
|  |  | **5032407** |
|  **Insurance - 11.5%** |  |  |
|  Allstate Corp. | 14590 | 3025091 |
|  American Financial Group, Inc. | 9500 | 1213245 |
|  American International Group, Inc. | 5200 | 391300 |
|  Arch Capital Group Ltd.<sup>A</sup> | 31700 | 3042883 |
|  Assurant, Inc. | 4000 | 871240 |
|  Axis Capital Holdings Ltd. | 4400 | 446204 |
|  Chubb Ltd. | 9040 | 2946407 |
|  Everest Group Ltd. | 6340 | 2072229 |
|  Hartford Insurance Group, Inc. | 22300 | 3015629 |
|  MetLife, Inc. | 62100 | 4391712 |
|  Principal Financial Group, Inc. | 12500 | 1126375 |
|  Progressive Corp. | 10800 | 2140992 |
|  Reinsurance Group of America, Inc. | 6700 | 1367872 |
|  |  | **26051179** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | **54844519** |
|  **Health Care - 21.2%** |  |  |
|  **Biotechnology - 7.8%** |  |  |
|  Biogen, Inc.<sup>A</sup> | 12400 | 2273292 |
|  BioMarin Pharmaceutical, Inc.<sup>A</sup> | 4400 | 248556 |
|  Exelixis, Inc.<sup>A</sup> | 61500 | 2637735 |
|  Gilead Sciences, Inc. | 47700 | 6647949 |
|  Incyte Corp.<sup>A</sup> | 33100 | 3115372 |
|  Regeneron Pharmaceuticals, Inc. | 3330 | 2572891 |
|  |  | **17495795** |
|  **Health Care Providers & Services - 3.6%** |  |  |
|  Cardinal Health, Inc. | 18200 | 3845842 |
|  Cigna Group | 1360 | 362780 |
|  Humana, Inc. | 880 | 152583 |
|  McKesson Corp. | 4330 | 3747009 |
|  |  | **8108214** |
|  **Life Sciences Tools & Services - 0.4%** |  |  |
|  Agilent Technologies, Inc. | 8503 | **969172** |
|  **Pharmaceuticals - 9.4%** |  |  |
|  Bristol-Myers Squibb Co. | 77200 | 4682180 |
|  Jazz Pharmaceuticals PLC<sup>A</sup> | 8900 | 1682545 |
|  Johnson & Johnson | 31000 | 7577640 |
|  Merck & Co., Inc. | 41300 | 4967977 |
|  Pfizer, Inc. | 71100 | 1996488 |
|  Zoetis, Inc. | 3100 | 366451 |
|  |  | **21273281** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | **47846462** |
|  **Industrials - 14.4%** |  |  |
|  **Aerospace & Defense - 4.0%** |  |  |
|  Curtiss-Wright Corp. | 3240 | 2206829 |

---

*See accompanying notes* 

------

**American Beacon Man Large Cap Value Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.1% (continued) |  |  |
|  **Industrials - 14.4% (continued)** |  |  |
|  **Aerospace & Defense - 4.0% (continued)** |  |  |
|  General Dynamics Corp. | 8320 | $2855590 |
|  Leonardo DRS, Inc. | 24100 | 1072932 |
|  RTX Corp. | 7100 | 1369590 |
|  Textron, Inc. | 17700 | 1549812 |
|  |  | **9054753** |
|  **Building Products - 1.2%** |  |  |
|  A.O. Smith Corp. | 22000 | 1450680 |
|  Owens Corning | 10400 | 1125488 |
|  |  | **2576168** |
|  **Commercial Services & Supplies - 0.8%** |  |  |
|  Republic Services, Inc. | 8600 | **1883572** |
|  **Construction & Engineering - 2.3%** |  |  |
|  EMCOR Group, Inc. | 3650 | 2694832 |
|  MasTec, Inc.<sup>A</sup> | 7900 | 2541746 |
|  |  | **5236578** |
|  **Electrical Equipment - 0.7%** |  |  |
|  Generac Holdings, Inc.<sup>A</sup> | 7800 | **1523574** |
|  **Industrial Conglomerates - 0.2%** |  |  |
|  Honeywell International, Inc. | 2200 | **497266** |
|  **Machinery - 4.5%** |  |  |
|  Allison Transmission Holdings, Inc. | 2400 | 280944 |
|  Cummins, Inc. | 9370 | 5041247 |
|  Graco, Inc. | 21100 | 1786115 |
|  Oshkosh Corp. | 11000 | 1619310 |
|  Toro Co. | 16200 | 1513728 |
|  |  | **10241344** |
|  **Professional Services - 0.7%** |  |  |
|  Jacobs Solutions, Inc. | 6000 | 763680 |
|  Leidos Holdings, Inc. | 4700 | 730944 |
|  |  | **1494624** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | **32507879** |
|  **Information Technology - 19.6%** |  |  |
|  **Communications Equipment - 3.8%** |  |  |
|  Cisco Systems, Inc. | 103500 | 8030565 |
|  Motorola Solutions, Inc. | 1410 | 611898 |
|  |  | **8642463** |
|  **Electronic Equipment, Instruments & Components - 3.0%** |  |  |
|  Arrow Electronics, Inc.<sup>A</sup> | 10700 | 1534487 |
|  Keysight Technologies, Inc.<sup>A</sup> | 14800 | 4179076 |
|  Littelfuse, Inc. | 3200 | 1085920 |
|  |  | **6799483** |
|  **IT Services - 1.7%** |  |  |
|  Accenture PLC, Class <sup>A</sup> | 9090 | 1802456 |
|  Amdocs Ltd. | 21100 | 1376986 |
|  Twilio, Inc., Class A<sup>A</sup> | 5483 | 689871 |
|  |  | **3869313** |
|  **Semiconductors & Semiconductor Equipment - 9.3%** |  |  |
|  Advanced Micro Devices, Inc.<sup>A</sup> | 17300 | 3519339 |
|  Analog Devices, Inc. | 4100 | 1304374 |

---

*See accompanying notes* 

------

**American Beacon Man Large Cap Value Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 97.1% (continued) |  |  |
|  **Information Technology - 19.6% (continued)** |  |  |
|  **Semiconductors & Semiconductor Equipment - 9.3% (continued)** |  |  |
|  Applied Materials, Inc. | 18250 | $6237667 |
|  Cirrus Logic, Inc.<sup>A</sup> | 5000 | 723100 |
|  Onto Innovation, Inc.<sup>A</sup> | 6800 | 1394476 |
|  Qorvo, Inc.<sup>A</sup> | 5800 | 448920 |
|  QUALCOMM, Inc. | 16600 | 2137748 |
|  Skyworks Solutions, Inc. | 14400 | 771120 |
|  Teradyne, Inc. | 14600 | 4328316 |
|  |  | **20865060** |
|  **Software - 1.7%** |  |  |
|  Salesforce, Inc. | 20500 | **3826735** |
|  **Technology Hardware, Storage & Peripherals - 0.1%** |  |  |
|  NetApp, Inc. | 1800 | **184302** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | **44187356** |
|  **Materials - 4.6%** |  |  |
|  **Metals & Mining - 4.6%** |  |  |
|  Freeport-McMoRan, Inc. | 18100 | 1063918 |
|  Newmont Corp. | 55800 | 6040350 |
|  Reliance, Inc. | 4840 | 1470973 |
|  Royal Gold, Inc. | 6900 | 1755981 |
|  |  | **10331222** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | **10331222** |
|  **Real Estate - 1.1%** |  |  |
|  **Health Care REITs - 0.5%** |  |  |
|  Healthpeak Properties, Inc. | 73500 | **1207605** |
|  **Real Estate Management & Development - 0.6%** |  |  |
|  Jones Lang LaSalle, Inc.<sup>A</sup> | 4020 | **1223366** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Real Estate** |  | **2430971** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $163,211,514)** |  | **219128825** |
|  FOREIGN COMMON STOCKS - 0.7% (Cost $1,375,409) |  |  |
|  **Financials - 0.7%** |  |  |
|  **Banks - 0.7%** |  |  |
|  Popular, Inc. | 12100 | **1623457** |
|  SHORT-TERM INVESTMENTS - 1.8% (Cost $4,094,112) |  |  |
|  **Investment Companies - 1.8%** |  |  |
|  American Beacon U.S. Government Money Market Select Fund, 3.56%<sup>B C</sup> | 4094112 | **4094112** |
|  **TOTAL INVESTMENTS - 99.6% (Cost $168,681,035)** |  | **224846394** |
|  **OTHER ASSETS, NET OF LIABILITIES - 0.4%** |  | **1005538** |
|  **TOTAL NET ASSETS - 100.0%** |  | $**225851932** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Non-income producing security.

<sup>B</sup> The Fund is affiliated by having the same investment advisor.

<sup>C</sup> 7-day yield.

*See accompanying notes* 

------

**American Beacon Man Large Cap Value Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

PLC - Public Limited Company.

REITs - Real Estate Investment Trusts.

***Long Futures Contracts Open on March 31, 2026:***

**Equity Futures Contracts** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Number of<br>Contracts** | **Expiration Date** | **Notional Amount** | **Contract Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CME E-Mini S&P 500 Index Futures | 14 | June 2026 | $4712132 | $4599525 | $(112607) |
|  |  |  | $4712132 | $4599525 | $(112607) |

---

***Glossary:***

**<u>Index Abbreviations:</u>**

S&P 500 Standard & Poor's 500 Index - U.S. Equity Large-Cap Index.

**<u>Exchange Abbreviations:</u>**

CME Chicago Mercantile Exchange.

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Man Large Cap Value Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Common Stocks | $219128825 | $— | $— | $219128825 |
|  Foreign Common Stocks | 1623457 |  |  | 1623457 |
|  Short-Term Investments | 4094112 |  |  | 4094112 |
|  Total Investments in Securities - Assets | $224846394 | $— | $— | $224846394 |
|  ***Financial Derivative Instruments - Liabilities*** |  |  |  |  |
|  Futures Contracts | $(112607) | $— | $— | $(112607) |
|  Total Financial Derivative Instruments - Liabilities | $(112607) | $— | $— | $(112607) |

---

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon Stephens Mid-Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 95.6% |  |  |
|  **Communication Services - 4.5%** |  |  |
|  **Entertainment - 4.1%** |  |  |
|  Live Nation Entertainment, Inc.<sup>A</sup> | 63970 | $9756065 |
|  Spotify Technology SA<sup>A</sup> | 13651 | 6619506 |
|  Take-Two Interactive Software, Inc.<sup>A</sup> | 44370 | 8763075 |
|  |  | **25138646** |
|  **Interactive Media & Services - 0.4%** |  |  |
|  Reddit, Inc., Class A<sup>A</sup> | 16970 | **2285010** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Communication Services** |  | **27423656** |
|  **Consumer Discretionary - 14.8%** |  |  |
|  **Broadline Retail - 1.4%** |  |  |
|  Ollie's Bargain Outlet Holdings, Inc.<sup>A</sup> | 89026 | **8193953** |
|  **Distributors - 0.4%** |  |  |
|  Pool Corp. | 11745 | **2376366** |
|  **Diversified Consumer Services - 0.7%** |  |  |
|  Bright Horizons Family Solutions, Inc.<sup>A</sup> | 50598 | **4155613** |
|  **Hotels, Restaurants & Leisure - 4.9%** |  |  |
|  Domino's Pizza, Inc. | 14076 | 5050328 |
|  Dutch Bros, Inc., Class A<sup>A</sup> | 139869 | 7085763 |
|  Texas Roadhouse, Inc. | 42720 | 7054781 |
|  Viking Holdings Ltd.<sup>A</sup> | 102094 | 7501867 |
|  Wingstop, Inc. | 18477 | 2863381 |
|  |  | **29556120** |
|  **Specialty Retail - 7.4%** |  |  |
|  Burlington Stores, Inc.<sup>A</sup> | 35120 | 11427345 |
|  Five Below, Inc.<sup>A</sup> | 50287 | 11489574 |
|  Ross Stores, Inc. | 65452 | 14178867 |
|  Tractor Supply Co. | 175389 | 7945122 |
|  |  | **45040908** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | **89322960** |
|  **Energy - 5.1%** |  |  |
|  **Energy Equipment & Services - 1.6%** |  |  |
|  Baker Hughes Co. | 157464 | **9613177** |
|  **Oil, Gas & Consumable Fuels - 3.5%** |  |  |
|  Antero Resources Corp.<sup>A</sup> | 115975 | 4921979 |
|  Diamondback Energy, Inc. | 34155 | 6755518 |
|  Expand Energy Corp. | 86218 | 9465012 |
|  |  | **21142509** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | **30755686** |
|  **Financials - 8.6%** |  |  |
|  **Capital Markets - 3.6%** |  |  |
|  Evercore, Inc., Class A | 30216 | 9019778 |
|  Robinhood Markets, Inc., Class A<sup>A</sup> | 71893 | 4982185 |
|  Tradeweb Markets, Inc., Class A | 66654 | 7842510 |
|  |  | **21844473** |
|  **Consumer Finance - 2.3%** |  |  |
|  FirstCash Holdings, Inc. | 72165 | **13567020** |

---

*See accompanying notes* 

------

**American Beacon Stephens Mid-Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 95.6% (continued) |  |  |
|  **Financials - 8.6% (continued)** |  |  |
|  **Financial Services - 1.0%** |  |  |
|  Toast, Inc., Class A<sup>A</sup> | 223271 | $**5918914** |
|  **Insurance - 1.7%** |  |  |
|  Kinsale Capital Group, Inc. | 10954 | 3742544 |
|  Ryan Specialty Holdings, Inc. | 199576 | 6733694 |
|  |  | **10476238** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | **51806645** |
|  **Health Care - 13.1%** |  |  |
|  **Biotechnology - 1.5%** |  |  |
|  Exelixis, Inc.<sup>A</sup> | 219873 | **9430353** |
|  **Health Care Equipment & Supplies - 4.4%** |  |  |
|  Dexcom, Inc.<sup>A</sup> | 111942 | 7029958 |
|  IDEXX Laboratories, Inc.<sup>A</sup> | 13591 | 7636647 |
|  Insulet Corp.<sup>A</sup> | 24335 | 5106456 |
|  ResMed, Inc. | 30370 | 6817457 |
|  |  | **26590518** |
|  **Health Care Providers & Services - 1.5%** |  |  |
|  HealthEquity, Inc.<sup>A</sup> | 55940 | 4674906 |
|  Henry Schein, Inc.<sup>A</sup> | 58580 | 4317346 |
|  |  | **8992252** |
|  **Health Care Technology - 0.7%** |  |  |
|  Veeva Systems, Inc., Class A<sup>A</sup> | 23915 | **4200909** |
|  **Life Sciences Tools & Services - 5.0%** |  |  |
|  Bio-Techne Corp. | 94618 | 4944737 |
|  ICON PLC<sup>A</sup> | 50065 | 5540193 |
|  Illumina, Inc.<sup>A</sup> | 46128 | 5685737 |
|  Medpace Holdings, Inc.<sup>A</sup> | 14885 | 7147628 |
|  Repligen Corp.<sup>A</sup> | 57663 | 6793855 |
|  |  | **30112150** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | **79326182** |
|  **Industrials - 24.1%** |  |  |
|  **Aerospace & Defense - 9.4%** |  |  |
|  AeroVironment, Inc.<sup>A</sup> | 40240 | 7365932 |
|  Axon Enterprise, Inc.<sup>A</sup> | 19675 | 8355776 |
|  BWX Technologies, Inc. | 47357 | 9684033 |
|  HEICO Corp., Class A | 37693 | 7956615 |
|  Kratos Defense & Security Solutions, Inc.<sup>A</sup> | 52213 | 3681538 |
|  L3Harris Technologies, Inc. | 28886 | 9970003 |
|  Leonardo DRS, Inc. | 221996 | 9883262 |
|  |  | **56897159** |
|  **Commercial Services & Supplies - 1.0%** |  |  |
|  Copart, Inc.A | 185879 | **6171183** |
|  **Electrical Equipment - 6.7%** |  |  |
|  Forgent Power Solutions, Inc.<sup>A</sup> | 83839 | 2453968 |
|  Generac Holdings, Inc.<sup>A</sup> | 31051 | 6065192 |
|  Hubbell, Inc. | 14249 | 6992554 |
|  Rockwell Automation, Inc. | 23441 | 8412506 |
|  Vertiv Holdings Co., Class A | 65805 | 16489417 |
|  |  | **40413637** |

---

*See accompanying notes* 

------

**American Beacon Stephens Mid-Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 95.6% (continued) |  |  |
|  **Industrials - 24.1% (continued)** |  |  |
|  **Ground Transportation - 1.8%** |  |  |
|  JB Hunt Transport Services, Inc. | 28040 | $5941676 |
|  Saia, Inc.<sup>A</sup> | 15018 | 5275523 |
|  |  | **11217199** |
|  **Machinery - 1.9%** |  |  |
|  RBC Bearings, Inc.<sup>A</sup> | 20859 | **11328940** |
|  **Professional Services - 1.4%** |  |  |
|  Verisk Analytics, Inc. | 44976 | **8534196** |
|  **Trading Companies & Distributors - 1.9%** |  |  |
|  Fastenal Co. | 203246 | 9430614 |
|  SiteOne Landscape Supply, Inc.<sup>A</sup> | 16434 | 2187530 |
|  |  | **11618144** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | **146180458** |
|  **Information Technology - 22.9%** |  |  |
|  **Electronic Equipment, Instruments & Components - 3.6%** |  |  |
|  Cognex Corp. | 93487 | 4579928 |
|  Coherent Corp.<sup>A</sup> | 41747 | 9944553 |
|  Keysight Technologies, Inc.<sup>A</sup> | 25372 | 7164292 |
|  |  | **21688773** |
|  **IT Services - 1.7%** |  |  |
|  MongoDB, Inc.<sup>A</sup> | 23302 | 5703631 |
|  Okta, Inc.<sup>A</sup> | 60954 | 4797689 |
|  |  | **10501320** |
|  **Semiconductors & Semiconductor Equipment - 7.0%** |  |  |
|  Astera Labs, Inc.<sup>A</sup> | 28626 | 3137409 |
|  Lattice Semiconductor Corp.<sup>A</sup> | 65916 | 6114368 |
|  Marvell Technology, Inc. | 80493 | 7972832 |
|  Microchip Technology, Inc. | 92724 | 5990898 |
|  Monolithic Power Systems, Inc. | 5599 | 6121667 |
|  Onto Innovation, Inc.<sup>A</sup> | 14134 | 2898459 |
|  Teradyne, Inc. | 34561 | 10245954 |
|  |  | **42481587** |
|  **Software - 9.7%** |  |  |
|  Autodesk, Inc.<sup>A</sup> | 14611 | 3497873 |
|  Cadence Design Systems, Inc.<sup>A</sup> | 28380 | 7885951 |
|  Crowdstrike Holdings, Inc., Class A<sup>A</sup> | 6471 | 2526343 |
|  Dynatrace, Inc.<sup>A</sup> | 127264 | 4706223 |
|  Fortinet, Inc.<sup>A</sup> | 31745 | 2594201 |
|  Guidewire Software, Inc.<sup>A</sup> | 50051 | 7485628 |
|  Manhattan Associates, Inc.<sup>A</sup> | 45363 | 6038722 |
|  Nutanix, Inc., Class A<sup>A</sup> | 92644 | 3521398 |
|  Palo Alto Networks, Inc.<sup>A</sup> | 22826 | 3659464 |
|  Procore Technologies, Inc.<sup>A</sup> | 48344 | 2755608 |
|  PTC, Inc.<sup>A</sup> | 32679 | 4656431 |
|  SailPoint, Inc.<sup>A B</sup> | 259328 | 3433503 |
|  Tyler Technologies, Inc.<sup>A</sup> | 16816 | 5757462 |
|  |  | **58518807** |
|  **Technology Hardware, Storage & Peripherals - 0.9%** |  |  |
|  Everpure, Inc., Class A<sup>A</sup> | 96970 | **5725109** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | **138915596** |

---

*See accompanying notes* 

------

**American Beacon Stephens Mid-Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 95.6% (continued) |  |  |
|  **Materials - 0.5%** |  |  |
|  **Construction Materials - 0.5%** |  |  |
|  James Hardie Industries PLC<sup>A</sup> | 149668 | $**2834712** |
|  **Real Estate - 0.7%** |  |  |
|  **Real Estate Management & Development - 0.7%** |  |  |
|  CoStar Group, Inc.<sup>A</sup> | 112914 | **4554951** |
|  **Utilities - 1.3%** |  |  |
|  **Independent Power & Renewable Electricity Producers - 1.3%** |  |  |
|  Vistra Corp. | 51882 | **7799421** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $524,107,285)** |  | **578920267** |
|  FOREIGN COMMON STOCKS - 2.7% |  |  |
|  **Consumer Discretionary - 0.6%** |  |  |
|  **Hotels, Restaurants & Leisure - 0.6%** |  |  |
|  Sportradar Group AG, Class A<sup>A B</sup> | 234312 | **3922383** |
|  **Energy - 2.1%** |  |  |
|  **Energy Equipment & Services - 2.1%** |  |  |
|  TechnipFMC PLC | 181383 | **12539007** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Common Stocks (Cost $9,368,173)** |  | **16461390** |
|  SHORT-TERM INVESTMENTS - 1.4% (Cost $8,484,616) |  |  |
|  **Investment Companies - 1.4%** |  |  |
|  American Beacon U.S. Government Money Market Select Fund, 3.56%<sup>C D</sup> | 8484616 | **8484616** |
|  **TOTAL INVESTMENTS - 99.7% (Cost $541,960,074)** |  | **603866273** |
|  **OTHER ASSETS, NET OF LIABILITIES - 0.3%** |  | **1584892** |
|  **TOTAL NET ASSETS - 100.0%** |  | $**605451165** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Non-income producing security.

<sup>B</sup> All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries at March 31, 2026.

<sup>C</sup> The Fund is affiliated by having the same investment advisor.

<sup>D</sup> 7-day yield.

PLC - Public Limited Company.

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Stephens Mid-Cap Growth Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Common Stocks | $578920267 | $— | $— | $578920267 |
|  Foreign Common Stocks | 16461390 |  |  | 16461390 |
|  Short-Term Investments | 8484616 |  |  | 8484616 |
|  Total Investments in Securities - Assets | $603866273 | $— | $— | $603866273 |

---

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon Stephens Small Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 88.2% |  |  |
|  **Consumer Discretionary - 8.8%** |  |  |
|  **Broadline Retail - 1.4%** |  |  |
|  Ollie's Bargain Outlet Holdings, Inc.<sup>A</sup> | 67731 | $**6233961** |
|  **Diversified Consumer Services - 0.8%** |  |  |
|  Bright Horizons Family Solutions, Inc.<sup>A</sup> | 39907 | **3277562** |
|  **Hotels, Restaurants & Leisure - 1.4%** |  |  |
|  First Watch Restaurant Group, Inc.<sup>A</sup> | 449605 | 4711860 |
|  Wingstop, Inc.<sup>B</sup> | 10372 | 1607349 |
|  |  | **6319209** |
|  **Household Durables - 0.7%** |  |  |
|  Installed Building Products, Inc. | 12311 | **3264262** |
|  **Specialty Retail - 4.5%** |  |  |
|  Academy Sports & Outdoors, Inc. | 99647 | 5625073 |
|  Boot Barn Holdings, Inc.<sup>A</sup> | 32449 | 4749236 |
|  Five Below, Inc.<sup>A</sup> | 35813 | 8182554 |
|  Revolve Group, Inc.<sup>A</sup> | 53759 | 1215491 |
|  |  | **19772354** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | **38867348** |
|  **Energy - 5.3%** |  |  |
|  **Energy Equipment & Services - 1.5%** |  |  |
|  Archrock, Inc. | 90481 | 3148739 |
|  Solaris Energy Infrastructure, Inc. | 61091 | 3452252 |
|  |  | **6600991** |
|  **Oil, Gas & Consumable Fuels - 3.8%** |  |  |
|  Antero Resources Corp.<sup>A</sup> | 67427 | 2861602 |
|  Gulfport Energy Corp.<sup>A</sup> | 13261 | 2805630 |
|  Magnolia Oil & Gas Corp., Class A | 176548 | 5573620 |
|  Viper Energy, Inc., Class A | 114823 | 5395533 |
|  |  | **16636385** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Energy** |  | **23237376** |
|  **Financials - 12.7%** |  |  |
|  **Capital Markets - 2.9%** |  |  |
|  Piper Sandler Cos. | 86564 | 6626474 |
|  Virtu Financial, Inc., Class A | 138897 | 6108690 |
|  |  | **12735164** |
|  **Consumer Finance - 6.4%** |  |  |
|  Encore Capital Group, Inc.<sup>A</sup> | 130730 | 9166788 |
|  EZCORP, Inc., Class A<sup>A</sup> | 375421 | 9528185 |
|  FirstCash Holdings, Inc. | 49720 | 9347360 |
|  |  | **28042333** |
|  **Financial Services - 0.3%** |  |  |
|  Toast, Inc., Class A<sup>A</sup> | 54427 | **1442860** |
|  **Insurance - 3.1%** |  |  |
|  Kinsale Capital Group, Inc. | 7962 | 2720297 |
|  Palomar Holdings, Inc.<sup>A</sup> | 54882 | 6558399 |
|  Ryan Specialty Holdings, Inc. | 133942 | 4519203 |
|  |  | **13797899** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Financials** |  | **56018256** |

---

*See accompanying notes* 

------

**American Beacon Stephens Small Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 88.2% (continued) |  |  |
|  **Health Care - 15.3%** |  |  |
|  **Biotechnology - 3.6%** |  |  |
|  Exelixis, Inc.<sup>A</sup> | 145365 | $6234705 |
|  Halozyme Therapeutics, Inc.<sup>A</sup> | 92795 | 5997341 |
|  Travere Therapeutics, Inc.<sup>A</sup> | 129274 | 3840730 |
|  |  | **16072776** |
|  **Health Care Equipment & Supplies - 2.7%** |  |  |
|  Axogen, Inc.<sup>A</sup> | 66240 | 2194531 |
|  Globus Medical, Inc., Class A<sup>A</sup> | 49903 | 4299642 |
|  Insulet Corp.<sup>A</sup> | 2488 | 522082 |
|  IRhythm Holdings, Inc.<sup>A</sup> | 41477 | 4895116 |
|  |  | **11911371** |
|  **Health Care Providers & Services - 0.8%** |  |  |
|  HealthEquity, Inc.<sup>A</sup> | 42926 | **3587326** |
|  **Life Sciences Tools & Services - 5.3%** |  |  |
|  Azenta, Inc.<sup>A</sup> | 88345 | 1866730 |
|  Bio-Techne Corp. | 65676 | 3432228 |
|  BioLife Solutions, Inc.<sup>A</sup> | 180796 | 3449587 |
|  ICON PLC<sup>A</sup> | 35345 | 3911278 |
|  Medpace Holdings, Inc.<sup>A</sup> | 10578 | 5079450 |
|  OmniAb, Inc.<sup>A C D</sup> | 25374 | 0 |
|  Repligen Corp.<sup>A</sup> | 46956 | 5532356 |
|  |  | **23271629** |
|  **Pharmaceuticals - 2.9%** |  |  |
|  Ligand Pharmaceuticals, Inc.<sup>A</sup> | 37958 | 7578315 |
|  Supernus Pharmaceuticals, Inc.<sup>A</sup> | 104972 | 5426002 |
|  |  | **13004317** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Health Care** |  | **67847419** |
|  **Industrials - 24.1%** |  |  |
|  **Aerospace & Defense - 10.1%** |  |  |
|  AeroVironment, Inc.<sup>A</sup> | 29611 | 5420294 |
|  BWX Technologies, Inc. | 30795 | 6297269 |
|  Karman Holdings, Inc.<sup>A B</sup> | 57105 | 4571255 |
|  Kratos Defense & Security Solutions, Inc.<sup>A</sup> | 55490 | 3912600 |
|  Leonardo DRS, Inc. | 166921 | 7431323 |
|  Park Aerospace Corp. | 147462 | 4037510 |
|  TAT Technologies Ltd.<sup>A</sup> | 51480 | 2091632 |
|  VSE Corp. | 39545 | 7292098 |
|  York Space Systems, Inc.<sup>A</sup> | 154680 | 3429256 |
|  |  | **44483237** |
|  **Air Freight & Logistics - 0.7%** |  |  |
|  Hub Group, Inc., Class A | 87869 | **3166799** |
|  **Building Products - 0.9%** |  |  |
|  AAON, Inc.<sup>B</sup> | 47329 | **3916475** |
|  **Commercial Services & Supplies - 0.9%** |  |  |
|  Montrose Environmental Group, Inc.<sup>A</sup> | 187977 | **4114816** |
|  **Electrical Equipment - 5.4%** |  |  |
|  American Superconductor Corp.<sup>A</sup> | 82584 | 2795468 |
|  Amprius Technologies, Inc.<sup>A</sup> | 239604 | 4039723 |
|  Bloom Energy Corp., Class A<sup>A</sup> | 45248 | 6130652 |
|  Generac Holdings, Inc.<sup>A</sup> | 11803 | 2305480 |

---

*See accompanying notes* 

------

**American Beacon Stephens Small Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 88.2% (continued) |  |  |
|  **Industrials - 24.1% (continued)** |  |  |
|  **Electrical Equipment - 5.4% (continued)** |  |  |
|  Powell Industries, Inc. | 15413 | $8339666 |
|  |  | **23610989** |
|  **Machinery - 2.7%** |  |  |
|  Lindsay Corp. | 24522 | 2919835 |
|  RBC Bearings, Inc.<sup>A</sup> | 16654 | 9045120 |
|  |  | **11964955** |
|  **Professional Services - 0.9%** |  |  |
|  Maximus, Inc. | 64886 | **4159193** |
|  **Trading Companies & Distributors - 2.5%** |  |  |
|  SiteOne Landscape Supply, Inc.<sup>A</sup> | 29101 | 3873634 |
|  Titan Machinery, Inc.<sup>A</sup> | 182847 | 3057202 |
|  Xometry, Inc., Class A<sup>A B</sup> | 98947 | 4040995 |
|  |  | **10971831** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Industrials** |  | **106388295** |
|  **Information Technology - 20.5%** |  |  |
|  **Communications Equipment - 0.8%** |  |  |
|  Ciena Corp.<sup>A</sup> | 8565 | **3325190** |
|  **Electronic Equipment, Instruments & Components - 3.0%** |  |  |
|  Cognex Corp. | 62437 | 3058789 |
|  Mirion Technologies, Inc.<sup>A</sup> | 146877 | 2730444 |
|  nLight, Inc.<sup>A</sup> | 134368 | 7661663 |
|  |  | **13450896** |
|  **Semiconductors & Semiconductor Equipment - 7.8%** |  |  |
|  Ambarella, Inc.<sup>A</sup> | 35741 | 1839768 |
|  Credo Technology Group Holding Ltd.<sup>A</sup> | 34144 | 3205097 |
|  Impinj, Inc.<sup>A</sup> | 21158 | 2172926 |
|  Lattice Semiconductor Corp.<sup>A</sup> | 53243 | 4938821 |
|  MACOM Technology Solutions Holdings, Inc.<sup>A</sup> | 37885 | 8413122 |
|  Power Integrations, Inc. | 59939 | 3068877 |
|  Rambus, Inc.<sup>A</sup> | 45787 | 3939056 |
|  Silicon Laboratories, Inc.<sup>A</sup> | 22567 | 4697321 |
|  SiTime Corp.<sup>A</sup> | 6426 | 2219219 |
|  |  | **34494207** |
|  **Software - 8.3%** |  |  |
|  Agilysys, Inc.<sup>A</sup> | 41536 | 2954871 |
|  Braze, Inc., Class A<sup>A</sup> | 112508 | 2656314 |
|  Guidewire Software, Inc.<sup>A</sup> | 21197 | 3170223 |
|  JFrog Ltd.<sup>A</sup> | 68859 | 3231553 |
|  Manhattan Associates, Inc.<sup>A</sup> | 34526 | 4596101 |
|  Netskope, Inc., Class A<sup>A</sup> | 264911 | 2249094 |
|  PAR Technology Corp.<sup>A</sup> | 123457 | 1645682 |
|  Rubrik, Inc., Class A<sup>A</sup> | 60693 | 2972136 |
|  SailPoint, Inc.<sup>A</sup> | 142853 | 1891374 |
|  SentinelOne, Inc., Class A<sup>A</sup> | 177054 | 2280456 |
|  Tenable Holdings, Inc.<sup>A</sup> | 52267 | 884096 |
|  Varonis Systems, Inc.<sup>A</sup> | 161734 | 3472429 |
|  Via Transportation, Inc., Class A<sup>A</sup> | 89975 | 1349625 |
|  Zeta Global Holdings Corp., Class A<sup>A B</sup> | 203314 | 3236759 |
|  |  | **36590713** |

---

*See accompanying notes* 

------

**American Beacon Stephens Small Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  COMMON STOCKS - 88.2% (continued) |  |  |
|  **Information Technology - 20.5% (continued)** |  |  |
|  **Technology Hardware, Storage & Peripherals - 0.6%** |  |  |
|  Everpure, Inc., Class A<sup>A</sup> | 44831 | $**2646822** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | **90507828** |
|  **Materials - 1.5%** |  |  |
|  **Chemicals - 1.0%** |  |  |
|  Balchem Corp. | 26200 | **4440376** |
|  **Construction Materials - 0.5%** |  |  |
|  James Hardie Industries PLC<sup>A</sup> | 119659 | **2266341** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Materials** |  | **6706717** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Common Stocks (Cost $275,986,941)** |  | **389573239** |
|  FOREIGN COMMON STOCKS - 7.4% |  |  |
|  **Consumer Discretionary - 2.0%** |  |  |
|  **Broadline Retail - 0.5%** |  |  |
|  Global-e Online Ltd.<sup>A</sup> | 74302 | **2292217** |
|  **Hotels, Restaurants & Leisure - 1.5%** |  |  |
|  Genius Sports Ltd.A | 679080 | 3008324 |
|  Sportradar Group AG, Class A<sup>A</sup> | 215128 | 3601243 |
|  |  | **6609567** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Consumer Discretionary** |  | **8901784** |
|  **Energy - 1.3%** |  |  |
|  **Energy Equipment & Services - 1.3%** |  |  |
|  TechnipFMC PLC | 83210 | **5752307** |
|  **Financials - 0.8%** |  |  |
|  **Capital Markets - 0.8%** |  |  |
|  Bullish<sup>A B</sup> | 95403 | **3408749** |
|  **Industrials - 0.6%** |  |  |
|  **Machinery - 0.6%** |  |  |
|  Kornit Digital Ltd.<sup>A</sup> | 177852 | **2607310** |
|  **Information Technology - 2.7%** |  |  |
|  **Electronic Equipment, Instruments & Components - 1.3%** |  |  |
|  Fabrinet<sup>A</sup> | 11266 | **5875445** |
|  **Semiconductors & Semiconductor Equipment - 0.5%** |  |  |
|  Camtek Ltd.<sup>A B</sup> | 14530 | **2202893** |
|  **Software - 0.9%** |  |  |
|  Descartes Systems Group, Inc.<sup>A</sup> | 56964 | **4076344** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Information Technology** |  | **12154682** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total Foreign Common Stocks (Cost $32,878,739)** |  | **32824832** |
|  SHORT-TERM INVESTMENTS - 4.3% (Cost $19,140,190) |  |  |
|  **Investment Companies - 4.3%** |  |  |
|  American Beacon U.S. Government Money Market Select Fund, 3.56%<sup>E F</sup> | 19140190 | **19140190** |

---

*See accompanying notes* 

------

**American Beacon Stephens Small Cap Growth Fund<sup>SM</sup>** 

**Schedule of Investments** 

March 31, 2026 (Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
|  SECURITIES LENDING COLLATERAL - 0.4% (Cost $1,742,386) |  |  |
|  **Investment Companies - 0.4%** |  |  |
|  American Beacon U.S. Government Money Market Select Fund, 3.56%<sup>E F</sup> | 1742386 | $**1742386** |
|  **TOTAL INVESTMENTS - 100.3% (Cost $329,748,256)** |  | **443280647** |
|  **LIABILITIES, NET OF OTHER ASSETS - (0.3%)** |  | **(1315820)** |
|  **TOTAL NET ASSETS - 100.0%** |  | $**441964827** |

---

Percentages are stated as a percent of net assets.

<sup>A</sup> Non-income producing security.

<sup>B</sup> All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries at March 31, 2026.

<sup>C</sup> Value was determined using significant unobservable inputs.

<sup>D</sup> Security has been fair valued pursuant to the Manager's procedures related to pricing that is not available after the close of exchange or the available price does not reflect the security's true market value. At period end, the value of these securities amounted to $0 or 0.0% of net assets. 

<sup>E</sup> The Fund is affiliated by having the same investment advisor.

<sup>F</sup> 7-day yield.

PLC - Public Limited Company.

The Fund's investments are summarized by level based on the inputs used to determine their values. As of March 31, 2026, the investments were classified as described below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Stephens Small Cap Growth Fund** | **Level 1** | **Level 2** | **Level 3** | **Total** |
|  ***Assets*** |  |  |  |  |
|  Common Stocks | $389573239 | $— | $0<sup>(1)</sup> | $389573239 |
|  Foreign Common Stocks | 32824832 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 32824832 |
|  Short-Term Investments | 19140190 |  |  | 19140190 |
|  Securities Lending Collateral | 1742386 |  |  | 1742386 |
|  Total Investments in Securities - Assets | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443280647 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $0<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443280647 |

---

<sup>(1)</sup> *Includes investments held in the Fund's portfolio with $0 fair value.* 

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 31, 2026, there were no material transfers into or out of Level 3.

*See accompanying notes* 

------

**American Beacon Funds<sup>SM</sup>** 

**Supplementary Notes to Schedules of Investments** 

March 31, 2026 (Unaudited)

**Security Valuation and Fair Value Measurements** 

The price of each Fund's shares is based on its net asset value ("NAV") per share. Each Fund's NAV is computed by adding total assets, subtracting all the Fund's liabilities, and dividing the result by the total number of shares outstanding.

The NAV of each class of a Fund's shares is determined based on a pro rata allocation of a Fund's investment income, expenses and total capital gains and losses. A Fund's NAV per share is determined each business day as of the regular close of trading on the New York Stock Exchange ("NYSE" or "Exchange"), which is typically 4:00 p.m. Eastern Time ("ET"). However, if trading on the NYSE closes at a time other than 4:00 p.m. ET, a Fund's NAV per share typically would still be determined as of the regular close of trading on the NYSE. The Funds do not price their shares on days that the NYSE is closed. Foreign exchanges may permit trading in foreign securities on days when a Fund is not open for business, which may result in the value of a Fund's portfolio investments being affected at a time when you are unable to buy or sell shares.

Equity securities, including shares of closed-end funds and exchange-traded funds ("ETFs"), are valued at the last sale price or official closing price taken from the primary exchange in which each security trades. Investments in other mutual funds are valued at the closing NAV per share on the day of valuation. Debt securities are valued at bid quotes from broker/dealers or evaluated bid prices from pricing services, who may consider a number of inputs and factors, such as prices of comparable securities, yield curves, spreads, credit ratings, coupon rates, maturity, default rates, and underlying collateral. Futures are valued based on their daily settlement prices. Exchange-traded and over-the-counter ("OTC") options are valued at the last sale price. Options with no last sale for the day are priced at mid quote. Swaps are valued at evaluated mid prices from pricing services.

The valuation of securities traded on foreign markets and certain fixed-income securities will generally be based on prices determined as of the earlier closing time of the markets on which they primarily trade unless a significant event has occurred. When a Fund holds securities or other assets that are denominated in a foreign currency, a Fund will normally use the currency exchange rates as of 4:00 p.m. ET.

Rule 2a-5 under the Investment Company Act (the "Valuation Rule") establishes requirements for determining fair value in good faith for purposes of the Investment Company Act, including related oversight and reporting requirements. The Valuation Rule also defines when market quotations are "readily available," which is the threshold for determining whether a Fund must fair value a security. Among other things, the Valuation Rule permits the Board to designate the Manager as Valuation Designee to perform the Fund's fair value determinations subject to board oversight and certain reporting and other requirements intended to ensure that the Board receives the information it needs to oversee the Manager's fair value determinations. Effective September 8, 2022, the Board has designated the Manager as valuation designee to perform fair value functions in accordance with the requirements of the Valuation Rule.

Securities may be valued at fair value, as determined in good faith and pursuant to the Manager's procedures, under certain limited circumstances. For example, fair value pricing will be used for fixed-income securities and when market quotations are not readily available or reliable, as determined by the Manager, such as when (i) trading for a security is restricted or stopped; (ii) a security's trading market is closed (other than customary closings); or (iii) a security has been de-listed from a national exchange. A security with limited market liquidity may require fair value pricing if the Manager determines that the available price does not reflect the security's true market value. In addition, if a significant event that the Manager determines to affect the value of one or more securities held by a Fund occurs after the close of a related exchange but before the determination of a Fund's NAV, fair value pricing may be used on the affected security or securities. Securities of small-capitalization companies are also more likely to require a fair value determination using these procedures because they are more thinly traded and less liquid than the securities of larger-capitalization companies. The Funds may fair value securities as a result of significant events occurring after the close of the foreign markets in which a Fund invests as described below. In addition, the Funds may invest in illiquid securities requiring these procedures.

A Fund may use fair value pricing for securities primarily traded in non-U.S. markets because most foreign markets close well before a Fund's pricing time of 4:00 p.m. ET. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. If the Manager determines that the last quoted prices of non-U.S. securities will, in its judgment, materially affect the value of some or all a Fund's portfolio securities, the Manager can adjust the previous closing prices to reflect what it believes to be the fair value of the securities as of the close of the Exchange. In deciding whether it is necessary to adjust closing prices to reflect fair value, the Manager reviews a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. These securities are fair valued using a pricing service, using methods approved by the Manager, that considers the correlation of the trading patterns of the foreign security to intraday trading in the U.S. markets, based on indices of domestic securities and other appropriate indicators such as prices of relevant American Depositary Receipts ("ADRs") and futures contracts. The Manager's Fair Valuation Committee ("Valuation Committee") may also fair value securities in other situations, such as when a particular foreign market is closed but a Fund is open. A Fund uses outside pricing services to provide closing prices and information to evaluate and/or adjust those prices. As a means of evaluating its security valuation process, the Valuation Committee routinely compares closing prices, the next day's opening prices in the same markets and adjusted prices.

------

**American Beacon Funds<sup>SM</sup>** 

**Supplementary Notes to Schedules of Investments** 

March 31, 2026 (Unaudited)

Attempts to determine the fair value of securities introduce an element of subjectivity to the pricing of securities. As a result, the price of a security determined through fair valuation techniques may differ from the price quoted or published by other sources and may not accurately reflect the market value of the security when trading resumes. If a reliable market quotation becomes available for a security formerly valued through fair valuation techniques, the Manager compares the new market quotation to the fair value price to evaluate the effectiveness of a Fund's fair valuation procedures. If any significant discrepancies are found, the Manager may adjust Manager's fair valuation procedures for a Fund.

*Valuation Inputs* 

Various inputs may be used to determine the fair value of the Funds' investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

---

| | |
|:---|:---|
| Level 1 - | Quoted prices in active markets for identical securities. |
| Level 2 - | Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others. |
| Level 3 - | Prices determined using other significant unobservable inputs. Unobservable inputs reflect a Fund's own assumptions about the factors market participants would use in pricing an investment. |

---

*Level 1 and Level 2 trading assets and trading liabilities, at fair value* 

Common stocks, ETFs, preferred securities, and financial derivative instruments, such as futures contracts or options that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy. Preferred securities and other equities traded on inactive markets or valued by reference to similar instruments are generally categorized as Level 2 of the fair value hierarchy. Valuation adjustments may be applied to certain securities that are solely traded on a foreign exchange to account for the market movement between the close of the foreign market and the close of the Exchange. These securities are valued using pricing service providers that consider the correlation of the trading patterns of the foreign security to the intraday trading in the U.S. markets for investments. Securities using these valuation adjustments are categorized as Level 2 of the fair value hierarchy.

Fixed-income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. Treasury obligations, sovereign issues, bank loans, convertible preferred securities, and non-U.S. bonds are normally valued by pricing service providers that use broker dealer quotations, reported trades or valuation estimates from their internal pricing models. The service providers' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates, and quoted prices for similar assets.

Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. Fixed-income securities purchased on a delayed-delivery basis are marked-to-market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.

Mortgage-related and asset-backed securities ("ABS") are usually issued as separate tranches, or classes, of securities within each deal. These securities are also normally valued by pricing service providers that use broker-dealer quotations or valuation estimates from their internal pricing models. The pricing models for these securities usually consider tranche-level attributes, current market data, estimated cash flows, and market-based yield spreads for each tranche, and incorporates deal collateral performance, as available. Mortgage-related and ABS that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Investments in registered open-end investment management companies will be valued based upon the NAVs of such investments and are categorized as Level 1 of the fair value hierarchy.

With respect to a Fund's investments that do not have readily available market quotations, the Board has designated the Adviser as its valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Act (the "Valuation Designee"). If market prices are not readily available or are deemed unreliable, the Valuation Designee will use the fair value of the security or other instrument as determined in good faith under policies and procedures established by and under the supervision of the Board ("Valuation Procedures"). Market prices are considered not readily available where there is an absence of current or reliable market-based data (e.g., trade information or broker quotes), including where events occur after the close of the relevant market, but prior to the NYSE Close, that materially affect the values of a Fund's portfolio holdings or assets. In addition, market prices are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which the securities or other instruments trade

------

**American Beacon Funds<sup>SM</sup>** 

**Supplementary Notes to Schedules of Investments** 

March 31, 2026 (Unaudited)

do not open for trading for the entire day and no other market prices are available. Fair value pricing is subjective in nature and the use of fair value pricing by the Valuation Designee may cause the NAV of a Fund's shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio holding is primarily traded. There can be no assurance that a Fund could obtain the fair value assigned to an investment if a Fund were to sell the investment at approximately the time at which a Fund determines its NAV.

OTC financial derivative instruments, such as forward foreign currency contracts derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These contracts are normally valued on the basis of broker dealer quotations or pricing service providers. Depending on the product and the terms of the transaction, the fair value of the financial derivative contracts can be estimated by a pricing service provider using a series of techniques, including simulation pricing models. The pricing models use inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, curves, dividends, and exchange rates. Financial derivatives that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMERICAN BEACON FUNDS

- **b. Investment Company Act file number:** 811-04984

- **c. CIK number of Registrant:** 0000809593

- **d. LEI of Registrant:** 549300EXCES9V5RWB620

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

  - **Street Address 1:** 220 EAST LAS COLINAS BOULEVARD

  - **City:** IRVING

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 75039

  - **Telephone number:** 817-391-6100

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

- **a. Name of Series:** American Beacon Stephens Mid-Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000035896

- **c. LEI of Series:** 549300Q6TXU0EHTD1P73

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $603910493.57

**Total Liabilities:** $555511.52

**Net Assets:** $603354982.05

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000110031 | 0.59%                | 1.83%                | -5.80%               |
| Class ID C000110032 | 0.59%                | 1.85%                | -5.78%               |
| Class ID C000110033 | 0.53%                | 1.76%                | -5.84%               |
| Class ID C000110034 | 0.64%                | 1.84%                | -5.77%               |
| Class ID C000110035 | 0.62%                | 1.87%                | -5.78%               |
| Class ID C000210485 | 0.63%                | 1.86%                | -5.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5834075.18              | $-1154714.04                               |
| Month 2  | $3302642.97              | $9003401.03                                |
| Month 3  | $-4889545.59             | $-33395256.04                              |

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AeroVironment Inc                            | AeroVironment, Inc.                          | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     36758 | NS      | $6728551.90   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Antero Resources Corp                        | Antero Resources Corp.                       | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    115975 | NS      | $4921979.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                              | Astera Labs, Inc.                            | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |     28626 | NS      | $3137409.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                                 | Autodesk, Inc.                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     14611 | NS      | $3497873.40   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                          | Axon Enterprise, Inc.                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |     19675 | NS      | $8355775.75   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc                         | BWX Technologies, Inc.                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     47357 | NS      | $9684032.93   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                              | Baker Hughes Co.                             | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    157464 | NS      | $9613177.20   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                              | Bio-Techne Corp.                             | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     94618 | NS      | $4944736.68   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc         | Bright Horizons Family Solutions, Inc.       | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |     50598 | NS      | $4155613.74   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                        | Burlington Stores, Inc.                      | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     35120 | NS      | $11427345.60  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                   | Cadence Design Systems, Inc.                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     28380 | NS      | $7885950.60   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                           | Expand Energy Corp.                          | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     86218 | NS      | $9465012.04   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                                  | Cognex Corp.                                 | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     93487 | NS      | $4579928.13   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                | Coherent Corp.                               | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     41747 | NS      | $9944552.87   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                   | Copart, Inc.                                 | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |    185879 | NS      | $6171182.80   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                             | CoStar Group, Inc.                           | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    112914 | NS      | $4554950.76   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                     | Crowdstrike Holdings, Inc.                   | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      6471 | NS      | $2526343.11   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexcom Inc                                   | Dexcom, Inc.                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    111942 | NS      | $7029957.60   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                       | Diamondback Energy, Inc.                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     34155 | NS      | $6755517.45   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc                           | Domino's Pizza, Inc.                         | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |     14076 | NS      | $5050328.04   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                               | Dutch Bros, Inc.                             | CUSIP: 26701L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    139869 | NS      | $7085763.54   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                | Dynatrace, Inc.                              | CUSIP: 268150109<br>LEI: 6488T0Z33CE9L61EX904 | Long             | EC               | CORP              | US        |    127264 | NS      | $4706222.72   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                                 | Evercore, Inc.                               | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     30216 | NS      | $9019778.16   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                 | Exelixis, Inc.                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    219873 | NS      | $9430352.97   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                                  | Fastenal Co.                                 | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    203246 | NS      | $9430614.40   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstCash Holdings Inc                       | FirstCash Holdings, Inc.                     | CUSIP: 33768G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72165 | NS      | $13567020.00  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                               | Five Below, Inc.                             | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     50287 | NS      | $11489573.76  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Forgent Power Solutions Inc                  | Forgent Power Solutions, Inc.                | CUSIP: 34631F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83839 | NS      | $2453967.53   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                 | Fortinet, Inc.                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     31745 | NS      | $2594201.40   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc                         | Generac Holdings, Inc.                       | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     31051 | NS      | $6065191.83   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                       | Guidewire Software, Inc.                     | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     50051 | NS      | $7485627.56   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                             | HealthEquity, Inc.                           | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     55940 | NS      | $4674905.80   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                                   | HEICO Corp.                                  | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |     37693 | NS      | $7956615.37   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                                  | Hubbell, Inc.                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |     14249 | NS      | $6992554.26   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| JB Hunt Transport Services Inc               | JB Hunt Transport Services, Inc.             | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |     28040 | NS      | $5941676.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                       | IDEXX Laboratories, Inc.                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     13591 | NS      | $7636646.99   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                 | Illumina, Inc.                               | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     46128 | NS      | $5685737.28   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp.                                | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     24335 | NS      | $5106456.40   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                    | Keysight Technologies, Inc.                  | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     25372 | NS      | $7164291.64   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                    | Kinsale Capital Group, Inc.                  | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     10954 | NS      | $3742543.64   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions Inc      | Kratos Defense & Security Solutions, Inc.    | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     52213 | NS      | $3681538.63   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                    | L3Harris Technologies, Inc.                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     28886 | NS      | $9970002.90   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                   | Lattice Semiconductor Corp.                  | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     65916 | NS      | $6114368.16   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Leonardo DRS Inc                             | Leonardo DRS, Inc.                           | CUSIP: 52661A108<br>LEI: 549300HMMEWVG3PPQU18 | Long             | EC               | CORP              | US        |    221996 | NS      | $9883261.92   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment Inc                | Live Nation Entertainment, Inc.              | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |     63970 | NS      | $9756064.70   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                     | Manhattan Associates, Inc.                   | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     45363 | NS      | $6038722.56   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                       | Marvell Technology, Inc.                     | CUSIP: 573874104<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | EC               | CORP              | US        |     80493 | NS      | $7972831.65   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc                         | Medpace Holdings, Inc.                       | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |     14885 | NS      | $7147628.15   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc                     | Microchip Technology, Inc.                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     92724 | NS      | $5990897.64   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MongoDB Inc                                  | MongoDB, Inc.                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |     23302 | NS      | $5703630.54   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc                 | Monolithic Power Systems, Inc.               | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      5599 | NS      | $6121666.65   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                  | Nutanix, Inc.                                | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |     92644 | NS      | $3521398.44   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                                     | Okta, Inc.                                   | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |     60954 | NS      | $4797689.34   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holdings Inc          | Ollie's Bargain Outlet Holdings, Inc.        | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     89026 | NS      | $8193953.04   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc                          | Onto Innovation, Inc.                        | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     14134 | NS      | $2898459.38   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                      | PTC, Inc.                                    | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |     32679 | NS      | $4656430.71   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                       | Palo Alto Networks, Inc.                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     22826 | NS      | $3659464.32   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                                    | Pool Corp.                                   | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |     11745 | NS      | $2376365.85   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                     | Procore Technologies, Inc.                   | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |     48344 | NS      | $2755608.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Everpure Inc                                 | Everpure, Inc.                               | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     96970 | NS      | $5725108.80   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                             | RBC Bearings, Inc.                           | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20859 | NS      | $11328940.08  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                   | Reddit, Inc.                                 | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |     16970 | NS      | $2285010.50   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corp                                | Repligen Corp.                               | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     57663 | NS      | $6793854.66   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                                   | ResMed, Inc.                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     30370 | NS      | $6817457.60   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                        | Robinhood Markets, Inc.                      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |     71893 | NS      | $4982184.90   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc                      | Rockwell Automation, Inc.                    | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     23441 | NS      | $8412506.08   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                              | Ross Stores, Inc.                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     65452 | NS      | $14178866.76  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc                  | Ryan Specialty Holdings, Inc.                | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    199576 | NS      | $6733694.24   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                     | Saia, Inc.                                   | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |     15018 | NS      | $5275523.04   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SailPoint Inc                                | SailPoint, Inc.                              | CUSIP: 78781J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    259328 | NS      | $3433502.72   | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| Henry Schein Inc                             | Henry Schein, Inc.                           | CUSIP: 806407102<br>LEI: VGO3WGL8H45T73F4RR92 | Long             | EC               | CORP              | US        |     58580 | NS      | $4317346.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc                 | SiteOne Landscape Supply, Inc.               | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     16434 | NS      | $2187529.74   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc            | Take-Two Interactive Software, Inc.          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     44370 | NS      | $8763075.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                 | Teradyne, Inc.                               | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     34561 | NS      | $10245954.06  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                          | Texas Roadhouse, Inc.                        | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |     42720 | NS      | $7054780.80   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Toast Inc                                    | Toast, Inc.                                  | CUSIP: 888787108<br>LEI: 549300TN1PZNLCD4I551 | Long             | EC               | CORP              | US        |    223271 | NS      | $5918914.21   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Tractor Supply Co                            | Tractor Supply Co.                           | CUSIP: 892356106<br>LEI: 549300OJ9VZHZRO6I137 | Long             | EC               | CORP              | US        |    175389 | NS      | $7945121.70   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                         | Tradeweb Markets, Inc.                       | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66654 | NS      | $7842509.64   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                       | Tyler Technologies, Inc.                     | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     16816 | NS      | $5757462.08   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                            | Veeva Systems, Inc.                          | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     23915 | NS      | $4200908.90   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc                         | Verisk Analytics, Inc.                       | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     44976 | NS      | $8534196.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                           | Vertiv Holdings Co.                          | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     65805 | NS      | $16489416.90  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                  | Vistra Corp.                                 | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     51882 | NS      | $7799421.06   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| American Beacon U.S. Government Money Market | American Beacon U.S. Government Money Market | CUSIP: 02368W200<br>LEI: 549300EXCES9V5RWB620 | Long             | STIV             | RF                | US        |   8484616 | NS      | $8484615.99   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Wingstop Inc                                 | Wingstop, Inc.                               | CUSIP: 974155103<br>LEI: 549300SSH3F8HPIM3Q47 | Long             | EC               | CORP              | US        |     18477 | NS      | $2863380.69   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC                  | James Hardie Industries PLC                  | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |    149668 | NS      | $2834711.92   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                     | ICON PLC                                     | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     50065 | NS      | $5540192.90   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                               | TechnipFMC PLC                               | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |    181383 | NS      | $12539006.79  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd                          | Viking Holdings Ltd.                         | CUSIP: 000000000<br>LEI: 52990032GOPN7BVQMN13 | Long             | EC               | CORP              | BM        |    102094 | NS      | $7501867.12   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Sportradar Group AG                          | Sportradar Group AG                          | CUSIP: 000000000<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |    234312 | NS      | $3922382.88   | 0.65%             |  |  |  | No            |                  1 | On Loan: —       |
| Spotify Technology SA                        | Spotify Technology SA                        | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |     13651 | NS      | $6619506.41   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** AMERICAN BEACON FUNDS

**Signature:** Melinda Heika

**Name of Signer:** Melinda Heika

**Title:** Treasurer