# EDGAR Filing Document

**Accession Number:** 0000809593
**File Stem:** 0001133228-26-002432
**Filing Date:** 2026-2
**Character Count:** 61941
**Document Hash:** 9176945ce3853339dd5de9b0ce189fd6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-002432.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001133228-26-002432

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**EFFECTIVENESS DATE**: 20260227

**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:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-11387
- **FILM NUMBER:** 26694907

**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 Balanced Fund (Series ID: S000000718)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000002089 | R5 Class       | AADBX           |
| C000002090 | Investor Class | AABPX           |
| C000004802 | Advisor Class  | ABLSX           |
| C000085576 | Y Class        | ACBYX           |
| C000089421 | A Class        | ABFAX           |
| C000092338 | C Class        | ABCCX           |

---

| | |
|:---|:---|
| American Beacon<br>Balanced Fund<sup>SM</sup> | ![](sp2725img001.jpg) |

---

 **SUMMARY PROSPECTUS** **March 1, 2026**<br>

Before you invest, you may want to review the Fund's prospectus and statement of additional information, which contain more information about the Fund and its risks. The current prospectus and statement of additional information, dated March 1, 2026, are incorporated by reference into this summary prospectus. You can find the Fund's prospectus, statement of additional information, reports to shareholders, and other information about the Fund online at www.americanbeaconfunds.com/resource_center/MutualFundForms.aspx. You can also get this information at no cost by calling 1-800-658-5811 or by sending an email request to americanbeaconfunds@ambeacon.com.

 **Share Class \| A:** **ABFAX \| C:** **ABCCX \| Y:** **ACBYX \| Advisor:** **ABLSX \| R5:** **AADBX \| Investor:** **AABPX**<br>

Investment Objectives

The Fund's investment objectives are income and capital appreciation.

Fees and Expenses of the Fund

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. **You may pay other fees, such as brokerage** **commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** You may qualify for sales discounts if you and your eligible family members invest, or agree to invest in the future, at least $50,000 in all classes of the American Beacon Funds on an aggregated basis. More information about these and other discounts is available from your financial professional and in "Choosing Your Share Class" on page 63 of the Prospectus and "Additional Purchase and Sale Information for A Class Shares" on page 77 of the Statement of Additional Information ("SAI"). With respect to purchases of shares through specific intermediaries, you may find additional information regarding sales charge discounts and waivers in **Appendix A** to the Fund's Prospectus entitled "Intermediary Sales Charge Discounts, Waivers and Other Information."

**Shareholder Fees** (fees paid directly from your investment)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  **Share Class** | **A** | **C** | **Y** | **Advisor** | **R5** | **Investor** |
| Maximum sales charge imposed on purchases (as a percentage of offering price) | 5.75% |  |  |  |  |  |
| Maximum deferred sales charge (as a percentage of the lower of original offering price or redemption proceeds) | 0.50%<sup>1</sup> | 1.00% |  |  |  |  |

---

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) | **Annual Fund Operating Expenses** (Expenses that you pay each year as a percentage of the value of your investment) |
|  **Share Class** | **A** | **C** | **Y** | **Advisor** | **R5** | **Investor** |
| Management Fees | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.00% | 0.25% | 0.00% | 0.00% |
| Other Expenses | 0.41% | 0.42% | 0.42% | 0.58% | 0.35% | 0.63% |
| Acquired Fund Fees and Expenses | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| **Total Annual Fund Operating Expenses<sup>2</sup>** | **1.19%** | **1.95%** | **0.95%** | **1.36%** | **0.88%** | **1.16%** |

---

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| | |
|:---|:---|
| 1 | Currently, the Fund does not assess a front-end sales load on purchases of A Class shares of $1,000,000 or more. However, the Fund assesses a contingent deferred sales charge (''CDSC'') of 0.50% on certain purchases of $1,000,000 or more of A Class shares that are redeemed in whole or part within 18 months of purchase. |

---

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| | |
|:---|:---|
| 2 | The Total Annual Fund Operating Expenses do not correlate to the ratio of expenses to average net assets provided in the Fund's Financial Highlights table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. |

---

**Example**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. C Class shares automatically convert to A Class shares 8 years after purchase, if the conversion is available through your financial intermediary. This Example reflects your costs as though C Class shares were held for the full 10-year period. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Share Class** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| A | $689 | $931 | $1192 | $1935 |
| C | $298 | $612 | $1052 | $2275 |
| Y | $97 | $303 | $525 | $1166 |
| Advisor | $138 | $431 | $745 | $1635 |
| R5 | $90 | $281 | $488 | $1084 |
| Investor | $118 | $368 | $638 | $1409 |

---

Assuming no redemption of shares:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Share Class** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| C | $198 | $612 | $1052 | $2275 |

---

BAL030126

**American Beacon Balanced Fund** - Summary Prospectus**1**

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Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 31% of the average value of its portfolio.

Principal Investment Strategies

Under normal circumstances, between 50% and 70% of the Fund's total assets are invested in equity securities and between 30% and 50% of the Fund's total assets are invested in debt securities.

The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk.

The Fund's equity investments may include common stocks, preferred stocks, convertible securities, including convertible preferred securities, master limited partnerships ("MLPs"), real estate investment trusts ("REITs"), depositary receipts, which may include American depositary receipts ("ADRs") and global depositary receipts ("GDRs"), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges (collectively referred to as "stocks"). The Fund's investments in stocks include dividend-paying stocks. The Fund principally invests in large-capitalization and mid-capitalization companies.

The Fund's sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to the S&P 500® Index):

■ above-average
 earnings growth potential,

■ below-average
 price to earnings ratio,

■ below-average
 price to book value ratio, and

■ above-average
 dividend yields.

Each of the Fund's sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The sub-advisors typically seek to invest in companies that they believe to be undervalued at the time of purchase. The decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks.

The Fund's debt securities may include: debentures; obligations of the U.S. Government, its agencies and instrumentalities, including U.S. Government-sponsored enterprises (some of which are not backed by the full faith and credit of the U.S. Government); corporate debt securities, such as notes and bonds; mortgage-backed and mortgage-related securities, including collateralized mortgage obligations ("CMOs") and commercial mortgage-backed securities ("CMBSs"); asset-backed securities; and variable and floating rate securities, which pay interest at variable rates, certain of which are based on a lending rate.

The Fund will only buy debt securities that are deemed by the Manager or sub-advisors, as applicable, to be investment grade at the time of the purchase. If an investment held by the Fund is downgraded below investment grade, the Manager or sub-advisors, as applicable, will take action that they believe to be advantageous to the Fund. The Fund has no limitations regarding the duration of the debt securities it can buy.

In determining which debt securities to buy and sell, the Manager and the sub-advisors generally use either a "top-down" or "bottom-up" investment strategy, or a combination of both strategies. The top-down fixed income investment strategy is implemented as follows:

■ Develop
 an overall investment strategy, including a portfolio duration target, by examining the current trends in the U.S. economy.

■ Set
 desired portfolio duration structure by comparing the differences between corporate and U.S. Government securities of similar duration
 to judge their potential
 for optimal return in accordance with the target duration benchmark.

■ Determine
 the weightings of each security type by analyzing the difference in yield spreads between corporate and U.S. Government securities.

■ Select
 specific debt securities within each security type.

■ Review
 and monitor portfolio composition for changes in credit, risk-return profile and comparisons with benchmarks.

The bottom-up fixed income investment strategy is implemented as follows:

■ Search
 for eligible securities with a yield to maturity advantage versus a U.S. Government security with a similar duration.

■ Evaluate
 credit quality of the securities.

■ Perform
 an analysis of the expected price volatility of the securities to changes in interest rates by examining actual price volatility between
 U.S. Government and
 non-U.S. Government securities.

The Fund may invest cash balances in a government money market fund advised by the Manager, with respect to which the Manager receives a management fee. The Fund may also purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions.

Principal Risks

There is no assurance that the Fund will achieve its investment objectives and you could lose part or all of your investment in the Fund. **The Fund is not** **designed for investors who need an assured level of current income and is intended to be a long-term investment. The Fund is not a complete** **investment program and may not be appropriate for all investors. Investors should carefully consider their own investment goals and risk** **tolerance before investing in the Fund.** The principal risks of investing in the Fund listed below are presented in alphabetical order and not in order of importance or potential exposure. Among other matters, this presentation is intended to facilitate your ability to find particular risks and compare them with the risks of other funds. Each risk summarized below is considered a "principal risk" of investing in the Fund, regardless of the order in which it appears.

**Allocation Risk**<br>The allocations among strategies, asset classes and market exposures may be less than optimal and may adversely affect the Fund's performance. There can be no assurance, particularly during periods of market disruption and stress, that judgments about allocations will be correct. The Fund's allocations may be invested in strategies, asset classes and market exposures during a period when such strategies, asset classes and market exposures underperform.

**Asset-Backed Securities Risk**<br>Investments in asset-backed securities are influenced by factors affecting the assets underlying the securities, including the broader market sector and individual markets, such as the auto markets. These securities may be more sensitive to changes in interest rates than other types of debt securities. Investments in asset-backed securities also are subject to risks of fixed-income securities, which include, but are not limited to, credit risk, interest rate risk, prepayment and extension risk, callable securities risk, valuation risk, liquidity risk, and restricted securities risk. A decline in the credit quality of the issuers of asset-backed

**2** **American Beacon Balanced Fund** - Summary Prospectus

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securities or instability in the markets for such securities may affect the value and liquidity of such securities, which could result in losses to the Fund. These securities are also subject to the risk of default on the underlying assets, particularly during periods of market downturn, and an unexpectedly high rate of defaults on the underlying assets will adversely affect the security's value.

**Asset Selection Risk**<br>Assets selected for the Fund may not perform to expectations. This could result in the Fund's underperformance compared to other funds with similar investment objectives.

**Convertible Securities Risk**<br>The value of a convertible security, including a convertible preferred security, typically increases or decreases with the price of the underlying common stock. In general, a convertible security is subject to the market risks of stocks when the underlying stock's price is high relative to the conversion price and is subject to the market risks of debt securities when the underlying stock's price is low relative to the conversion price. The general market risks of debt securities that are common to convertible securities include, but are not limited to, interest rate risk and credit risk. Many convertible securities have credit ratings that are below investment grade and are subject to the same risks as an investment in below investment grade debt securities (commonly known as "junk bonds"). Lower-rated debt securities may fluctuate more widely in price and yield than investment grade debt securities and may fall in price during times when the economy is weak or is expected to become weak. Convertible securities are subject to the risk that the credit standing of the issuer may have an effect on the convertible security's investment value. In addition, to the extent the Fund invests in convertible securities issued by mid-capitalization companies, it will be subject to the market risks of investing in such companies. The stocks of mid-capitalization companies may fluctuate more widely in price than the market as a whole and there may also be less trading in mid-capitalization stocks. Convertible securities are sensitive to movement in interest rates.

**Counterparty Risk**<br>The Fund is subject to the risk that a party or participant to a transaction, such as a broker or a derivative counterparty, will be unwilling or unable to satisfy its obligation to make timely principal, interest or settlement payments or to otherwise honor its obligations to the Fund.

**Credit Risk**<br>The Fund is subject to the risk that the issuer, guarantor or insurer of an obligation, or the counterparty to a transaction, may fail, or become less able or unwilling, to make timely payment of interest or principal or otherwise honor its obligations or default completely. Changes in the actual or perceived creditworthiness of an issuer, or a downgrade or default affecting any of the Fund's securities, could affect the Fund's performance. Generally, the longer the maturity and the lower the credit quality of a security, the more sensitive it is to credit risk.

**Cybersecurity and Operational Risk**<br>Operational risks arising from, among other problems, human errors, systems and technology disruptions or failures, or cybersecurity incidents may negatively impact the Fund, its service providers and third-party fund distribution platforms, including the ability of shareholders to transact in the Fund's shares, and result in financial losses. Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets, shareholder data, or proprietary information, or cause the Fund or its service providers, as well as securities trading venues and their service providers, to suffer data corruption or lose operational functionality. Cybersecurity incidents can result from deliberate attacks or unintentional events. It is not possible for the Fund or its service providers to identify all of the operational risks that may affect the Fund or to develop processes and controls to completely eliminate or mitigate their occurrence or effects. The Fund cannot control the cybersecurity and operational plans and systems of its service providers, its counterparties or the issuers of securities in which the Fund invests. The issuers of the Fund's investments are likely to be dependent on computers for their operations and require ready access to their data and the internet to conduct their business. Thus, cybersecurity incidents could also affect issuers of the Fund's investments, leading to significant loss of value.

**Debentures Risk**<br>Debentures are unsecured debt securities. The holder of a debenture is protected only by the general creditworthiness of the issuer. The Fund may invest in both corporate and government debentures.

**Dividend Risk**<br>An issuer of stock held by the Fund may choose not to declare a dividend or the dividend rate might not remain at current levels or increase over time. Dividend paying stocks might not experience the same level of earnings growth or capital appreciation as non-dividend paying stocks. Securities that pay dividends may be sensitive to changes in interest rates and, as interest rates rise or fall, the prices of such securities may fall.

**Equity Investments Risk**<br>Equity securities represent ownership interests in companies and are subject to investment risk, issuer risk and market risk. In general, the values of stocks and other equity securities fluctuate, and sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions and other factors. The Fund may experience a significant or complete loss on its investment in an equity security. In addition, stock prices may be particularly sensitive to rising interest rates, which increase borrowing costs and the costs of capital. The Fund may invest in the following equity securities, which may expose the Fund to the following additional risks:

■ Common
 Stock Risk. The value
 of a company's common stock may fall as a result of factors affecting the company, companies in the same industry or sector, or
 the financial markets overall. Common stock generally is subordinate to preferred stock upon the liquidation or bankruptcy of the issuing
 company.

■ Depositary
 Receipts Risk. Depositary
 receipts are subject to certain of the risks associated with investing directly in foreign securities, including, but not limited to,
 currency exchange rate fluctuations, political and financial instability in the home country of a particular depositary receipt, less
 liquidity, more volatility, less government
 regulation and supervision and delays in transaction settlement.

■ Master
 Limited Partnerships ("MLPs") Risk. Investing in MLPs involves certain risks related to investing in the underlying assets of the MLPs and risks associated with
 pooled investment vehicles. Investments held by MLPs may be relatively illiquid, limiting the MLPs' ability to change their portfolios
 promptly in response to changes
 in economic or other conditions. MLPs may have limited financial resources, their securities may trade infrequently and in limited volume,
 they may be difficult
 to value, and they may be subject to more abrupt or erratic price movements than securities of larger or more broadly based companies.
 Holders of units in
 MLPs have more limited rights to vote on matters affecting the partnership and may be required to sell their common units at an undesirable
 time or price. The
 Fund's investments in MLPs will be limited to no more than 25% of its assets in order for the Fund to meet the requirements necessary
 to qualify as a "regulated
 investment company" under the Internal Revenue Code of 1986, as amended ("Internal Revenue Code").

■ Real
 Estate Investment Trusts ("REITs") Risk. Investments in REITs are subject to the risks associated with investing in the real estate industry, including, among other
 risks: adverse developments affecting the real estate industry; declines in real property values; changes in interest rates; defaults
 by mortgagors or other borrowers
 and tenants; lack of availability of mortgage funds or financing; extended vacancies of properties, especially during economic downturns;
 casualty or condemnation
 losses; regulatory limitations on rents and operating expenses; and other governmental actions, such as changes to tax laws, zoning regulations or environmental regulations.
 REITs also are dependent upon the skills of their managers and are subject to heavy cash flow dependency or self-liquidation. Regardless
 of where a REIT is organized or traded, its performance may be affected significantly by events in the region where its properties are
 located. REITs may
 not be diversified geographically or by property or tenant type. Domestic
 REITs could be adversely affected by failure to qualify for tax-free "pass-through" of
 distributed net income and net realized gains under the Internal Revenue Code of 1986, as amended ("Internal Revenue Code"),
 or to maintain their exemption
 from registration under the Investment Company Act of 1940, as amended ("Investment Company Act"). REITs typically incur fees that are separate

**American Beacon Balanced Fund** - Summary Prospectus**3**

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from those incurred by the Fund. Accordingly, the Fund's investment in REITs will result in the layering of expenses such that shareholders will indirectly bear a proportionate share of the REITs' operating expenses, in addition to paying Fund expenses. The value of REIT common stock may decline when interest rates rise. REITs tend to be small- to mid-capitalization securities and, as such, are subject to the risks of investing in small- to mid-capitalization securities.

■ U.S.
 Dollar-Denominated Foreign Stocks Traded on U.S. Exchanges Risk. Foreign (non-U.S.) companies that list their stocks on U.S. exchanges may be exempt from
 certain accounting and corporate governance standards that apply to U.S. companies that list on the same exchange. Performance of these
 stocks can be impacted
 by political and financial instability in the home country of a particular foreign company, and delisting of these stocks could impact
 the  Fund's ability to
 transact in such securities and could significantly impact their liquidity and market price.

**Foreign Exposure Risk**<br>Exposure to non-U.S. issuers carries potential risks not associated with exposure to U.S. issuers. Such risks may include, but are not limited to: (1) political and financial instability, (2) less liquidity, (3) greater volatility, and (4) different government regulation The Fund's exposure to a foreign issuer may subject the Fund to regulatory, political, currency, security, economic and other risks associated with that country, including tariffs, trade disputes and sanctions. Global economic and financial markets have become increasingly interconnected and conditions (including recent volatility, terrorism, war and political instability) and events (including natural disasters) in one country, region or financial market may adversely impact issuers in a different country, region or financial market.

**Futures Contracts Risk**<br>Futures contracts are derivative instruments pursuant to a contract where the parties agree to a fixed price for an agreed amount of securities or other underlying assets at an agreed date. The use of such derivative instruments may expose the Fund to additional risks, such as credit risk, liquidity risk, and counterparty risk, that it would not be subject to if it invested directly in the securities underlying those derivatives. There can be no assurance that any strategy used will succeed. There may at times be an imperfect correlation between the movement in the prices of futures contracts and the value of their underlying instruments or indexes. There also can be no assurance that, at all times, a liquid market will exist for offsetting a futures contract that the Fund has previously bought or sold, and this may result in the inability to close a futures contract when desired. Futures contracts may experience potentially dramatic price changes, which will increase the volatility of the Fund and may involve a small investment of cash (the amount of initial and variation margin) relative to the magnitude of the risk assumed (the potential increase or decrease in the price of the futures contract). Use of derivatives is a highly specialized activity that can involve investment techniques and risks different from, and in some respects greater than, those associated with investing in more traditional investments. Derivatives can be highly complex and highly volatile and may perform in unanticipated ways. The Fund may invest in the following types of futures contracts:

• *Index Futures Contracts Risk.* Futures contracts on indices expose the Fund to volatility in an underlying index.

**Interest Rate Risk**<br>Generally, the value of investments with interest rate risk, such as fixed-income securities, will move in the opposite direction as movements in interest rates. Factors including central bank monetary policy, rising inflation rates, and changes in general economic conditions may cause interest rates to rise, which could cause the value of the Fund's investments to decline. Interest rate increases, including significant or rapid increases, may result in a decline in the value of bonds held by the Fund, make issuers less willing or able to make principal and interest payments on fixed-income investments when due, lead to heightened volatility in the fixed-income markets and adversely affect the liquidity of certain fixed-income investments, any of which may result in substantial losses to the Fund. When interest rates decline, issuers may prepay higher-yielding securities held by the Fund, resulting in the Fund reinvesting in securities with lower yields, which may cause a decline in its income. Interest rate changes may have a more pronounced effect on the market value of fixed-rate instruments than on floating-rate instruments. The value of floating rate and variable securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. The prices of fixed-income securities are also affected by their durations. Fixed-income securities with longer durations generally have greater sensitivity to changes in interest rates than those with shorter durations. Rising interest rates may cause the value of the Fund's investments with longer durations and terms to maturity to decline, which may adversely affect the value of the Fund. For example, if a bond has a duration of six years, a 1% increase in interest rates could be expected to result in a 6% decrease in the value of the bond. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund.

**Investment Risk**<br>An investment in the Fund is not a deposit with a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. When you sell your shares of the Fund, they could be worth less than what you paid for them. Therefore, you may lose money by investing in the Fund.

**Issuer Risk**<br>The value of, and/or the return generated by, a security may decline for a number of reasons that directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer's goods or services, as well as the historical and prospective earnings of the issuer and the value of its assets.

**Large-Capitalization Companies Risk**<br>The securities of large market capitalization companies may underperform other segments of the market because such companies may be less responsive to competitive challenges and opportunities and, at times, such companies may be out of favor with investors. Many larger-capitalization companies also may be unable to attain the high growth rates of successful smaller companies, especially during periods of economic expansion.

**Liquidity Risk**<br>The Fund is susceptible to the risk that certain investments held by the Fund may have limited marketability, be subject to restrictions on sale, be difficult or impossible to purchase or sell at favorable times or prices or become less liquid in response to market developments or adverse credit events that may affect issuers or guarantors of a security. An inability to sell a portfolio position can adversely affect the Fund's value or prevent the Fund from being able to take advantage of other investment opportunities. Market prices for such instruments may be volatile. During periods of substantial market volatility, an investment or even an entire market segment may become illiquid, sometimes abruptly, which can adversely affect the Fund's ability to limit losses. The Fund could lose money if it is unable to dispose of an investment at a time that is most beneficial to the Fund. The Fund may be required to dispose of investments at unfavorable times or prices to satisfy obligations, which may result in losses or may be costly to the Fund. For example, liquidity risk may be magnified in rising interest rate environments in the event of higher than normal redemption rates. Unexpected redemptions may force the Fund to sell certain investments at unfavorable prices to meet redemption requests or other cash needs. Judgment plays a greater role in pricing illiquid investments than in investments with more active markets.

**Market Risk**<br>The Fund is subject to the risk that the securities markets will move down, sometimes rapidly and unpredictably, based on overall economic conditions and other factors, which may negatively affect the Fund's performance. The financial markets generally move in cycles, with periods of rising prices followed by periods of declining prices. The value of your investment may reflect these fluctuations. During a general downturn in the securities markets, multiple asset classes may decline in value simultaneously. Even when certain securities prices have generally increased over time, there have been periods of price decreases during those times, resulting in losses for investors, which are likely to occur again in the future.

Geopolitical and other events, including war, terrorism, trade disputes, pandemics, public health crises, natural disasters, and cybersecurity incidents, have led, and in the future may continue to lead, to general instability in world economies and markets and reduced liquidity in securities, which may negatively affect the value of your investment.

**4** **American Beacon Balanced Fund** - Summary Prospectus

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Policies established by the U.S. government and/or Federal Reserve and economic and political circumstances within the U.S. and abroad, such as inflation, changes in interest rates, recessions, changes in government leadership, a government's inability to agree on a budget, high public debt, the threat or occurrence of a federal government shutdown and threats or the occurrence of a failure to increase the federal government's debt limit, which could result in a default on the government's obligations, may negatively affect investor and consumer confidence and may negatively impact financial markets and the broader economy, perhaps suddenly and to a significant degree.

Markets and market participants are increasingly reliant upon public and proprietary data and systems. Data or technology malfunctions and inaccuracies may disrupt markets and lead to negative consequences for market participants like the Fund.

■ Recent
 Market Events Risk. Both U.S. and international markets have experienced significant volatility in recent months and years. As a result of such volatility, investment returns
 may fluctuate significantly. Moreover, during periods of significant volatility, the risks discussed herein associated with an investment
 in the Fund may be
 increased. National economies are substantially interconnected, as are global financial markets, which creates the possibility that conditions
 in one country or
 region might adversely impact issuers in a different country or region. However, the interconnectedness of economies and/or markets may
 be changing, which
 may impact such economies and markets in ways that cannot be foreseen at this time. <br> Some
 countries, including the  U.S., have adopted more protectionist trade policies, including trade tariffs and other trade barriers,
 which is a trend that appears to
 be continuing globally. The economies of all nations, including the U.S., are subject to the risks of slowing global economic growth,
 protectionist trade policies,
 inflationary pressures, limits imposed by international trade and security agreements, political or economic dysfunction, poor consumer
 sentiment, and reduced
 demand for goods due to fluctuating commodity prices and currency values, and these risks may create significant market volatility in
 ways that cannot be
 foreseen at the present time. These economic risks could have a negative impact on the Fund's investments. <br> The
 U.S. Federal Reserve and certain foreign central banks have started to lower interest rates, though economic or other factors could stop
 or reverse such changes.
 It is difficult to accurately predict the various economic and political factors that influence the pace at which interest rates might
 change, the timing, frequency
 or magnitude of any such changes in interest rates, or when such changes might stop or again reverse course. Changes in interest rates
 could lead to an economic
 slowdown in the U.S. and abroad, significant market volatility and reduced liquidity in certain sectors of the market. <br> Tensions,
 war, or open conflict between nations, such as between Russia and Ukraine, in the Middle East or in eastern Asia could affect the economies
 of many nations, including
 the United States. The duration of ongoing hostilities and sanctions cannot be predicted. Those events present material uncertainty and
 risk with respect
 to markets globally and the performance of the Fund and its investments or operations could be negatively impacted. <br> Advancements
 in technology, including advanced development and increased regulation of artificial intelligence, may adversely impact market movements
 and liquidity. As
 artificial intelligence is used more widely, which can occur relatively rapidly, the profitability and growth of certain issuers and industries
 may be negatively
 impacted in ways that cannot be foreseen and could adversely impact issuer and market performance. As a consequence, the Fund's
 holdings and its overall
 performance could be negatively impacted. <br> Global
 climate change may affect property and security values. Certain issuers, industries and regions may be adversely affected by the impacts
 of climate change
 in ways that cannot be foreseen. The impacts of legislation, regulation and international accords related to climate change, as well as
 any indirect consequences
 that may not be foreseen, may negatively impact certain issuers, industries and regions.

**Mid-Capitalization Companies Risk**<br>Investing in the securities of mid-capitalization companies involves greater risk and the possibility of greater price volatility, which at times can be rapid and unpredictable, than investing in larger-capitalization and more established companies. Since mid-capitalization companies may have narrower commercial markets and more limited operating history, product lines, and managerial and financial resources than larger, more established companies, the securities of these companies may lack sufficient market liquidity, and they can be particularly sensitive to changes in overall economic conditions, interest rates, borrowing costs and earnings.

**Mortgage-Backed and Mortgage-Related Securities Risk**<br>Investments in mortgage-backed and mortgage-related securities are influenced by the factors affecting the mortgages underlying the securities or the housing market. These securities tend to be more sensitive to changes in interest rates than other types of debt securities. Investments in mortgage-backed and mortgage-related securities also are subject to market risks for fixed-income securities, which include, but are not limited to, credit risk, interest rate risk, prepayment and extension risk, callable securities risk, valuation risk, liquidity risk, and restricted securities risk. A decline in the credit quality of the issuers of mortgage-backed and mortgage-related securities or instability in the markets for such securities may affect the value and liquidity of such securities, which could result in losses to the Fund. These securities are also subject to the risk of default on the underlying mortgages, particularly during periods of market downturn, and an unexpectedly high rate of defaults on the underlying assets will adversely affect the security's value.

■ Collateralized
 Mortgage Obligation ("CMOs") Risk .
 CMOs may offer a higher yield than U.S. government securities, but they may also be subject to greater price
 fluctuation and credit risk. In addition, CMOs typically will be issued in a variety of classes or series, which have different maturities
 and are retired in sequence.
 In the event of a default by an issuer of a CMO, there is no assurance that the collateral securing such CMO will be sufficient to pay
 principal and interest.
 It is possible that there will be limited opportunities for trading CMOs in the OTC market, the depth and liquidity of which will vary
 from time to time.

■ Commercial
 Mortgage-Backed Securities ("CMBS") Risk. CMBS reflect the risks of investing in the real estate securing the underlying mortgage loans. These risks
 reflect the effects of local and other economic conditions on real estate markets, the ability of borrowers to make loan payments, and
 the ability of a property
 to attract and retain tenants. CMBS may not be backed by the full faith and credit of the U.S. Government and are subject to risk of default
 on the underlying
 mortgages, particularly during periods of economic downturn. CMBS are subject to a greater degree of prepayment and extension risk than
 many other forms of
 fixed-income securities, and CMBS may be less liquid and exhibit greater price volatility than other types of mortgage- or asset-backed
 securities. Small
 movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of CMBS.

**Multiple Sub-Advisor Risk**<br>The Manager may allocate the Fund's assets among multiple sub-advisors, each of which is responsible for investing its allocated portion of the Fund's assets. To a significant extent, the Fund's performance will depend on the success of the Manager in selecting and overseeing the sub-advisors and allocating the Fund's assets to sub-advisors. The sub-advisors' investment styles may not work together as planned, which could adversely affect the performance of the Fund. In addition, because each sub-advisor makes its trading decisions independently, the sub-advisors may purchase or sell the same security at the same time without aggregating their transactions. This may cause unnecessary brokerage and other expenses.

**Other Investment Companies Risk**<br>To the extent that the Fund invests in shares of other registered investment companies, the Fund will indirectly bear the fees and expenses charged by those investment companies in addition to the Fund's direct fees and expenses. To the extent the Fund invests in other investment companies that invest in equity securities, fixed-income securities and/or foreign securities, or that track an index, the Fund is subject to the risks associated with the underlying investments held by the investment company or the index fluctuations to which the investment company is subject. The Fund will be subject to the risks associated with investments in those companies, including but not limited to the following:

■ Government
 Money Market Funds Risk. Investments in government money market funds are subject to interest rate risk, credit risk, and market risk.

**American Beacon Balanced Fund** - Summary Prospectus**5**

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**Preferred Stock Risk**<br>Preferred stocks are sensitive to movements in interest rates. Preferred stocks may be less liquid than common stocks and, unlike common stocks, participation in the growth of an issuer may be limited. Distributions on preferred stocks generally are payable at the discretion of an issuer and after required payments to bond holders. In certain situations, an issuer may call or redeem its preferred stock or convert it to common stock. The market prices of preferred stocks are generally more sensitive to actual or perceived changes in the issuer's financial condition or prospects than are the prices of debt securities.

**Prepayment and Extension Risk**<br>Prepayment and extension risk is the risk that a bond or other fixed-income security or investment might, in the case of prepayment risk, be called or otherwise converted, prepaid or redeemed before maturity and, in the case of extension risk, that the investment might not be prepaid as expected. Due to a decline in interest rates or excess cash flow into the issuer, a debt security may be called or otherwise converted, prepaid or redeemed before maturity. If this occurs, no additional interest will be paid on the investment. The Fund may have to reinvest the proceeds in another investment at a lower rate, may not benefit from an increase in value that may result from declining interest rates, and may lose any premium it paid to acquire the security, any of which could result in a reduced yield to the Fund. The rate of prepayments tends to increase as interest rates fall, which could cause the average maturity of the portfolio to shorten. Conversely, extension risk is the risk that a decrease in prepayments may, as a result of higher interest rates or other factors, result in the extension of a security's effective maturity, increase the risk of default or delayed payment, heighten interest rate risk and increase the potential for a decline in an investment's price. In addition, as a consequence of a decrease in prepayments, the amount of principal available to the Fund for investment would be reduced. Extensions of obligations could cause the Fund to exhibit additional volatility and hold securities paying lower-than-market rates of interest. Either case could hurt the Fund's performance.

**Redemption Risk**<br>The Fund may experience periods of high levels of redemptions that could cause the Fund to sell assets at inopportune times or at a loss or depressed value. Heavy redemptions could hurt the Fund's performance. The sale of assets to meet redemption requests may create net capital gains, which could cause the Fund to have to distribute substantial capital gains. Redemption risk is greater to the extent that one or more investors or intermediaries control a large percentage of investments in the Fund. In addition, redemption risk is heightened during periods of declining or illiquid markets. A rise in interest rates or other market developments may cause investors to move out of fixed-income securities on a large scale. During periods of heavy redemptions, the Fund may borrow funds through the interfund credit facility or from a bank line of credit, which may increase costs.

**Secured, Partially Secured and Unsecured Obligation Risk**<br>Debt obligations may be secured, partially secured or unsecured. Interests in secured and partially-secured obligations have the benefit of collateral and, typically, of restrictive covenants limiting the ability of the borrower to further encumber its assets. However, there is no assurance that the liquidation of collateral from a secured or partially-secured obligation would satisfy the borrower's obligation, or that the collateral can be liquidated. Furthermore, there is a risk that the value of any collateral securing an obligation in which the Fund has an interest may decline and that the collateral may not be sufficient to cover the amount owed on the obligation. In the event the borrower defaults, the Fund's access to the collateral may be limited or delayed by bankruptcy or other insolvency laws. Unsecured debt, including senior unsecured and subordinated debt, will not be secured by any collateral and will be effectively subordinated to a borrower's secured indebtedness (to the extent of the collateral securing such indebtedness). With respect to unsecured obligations, the Fund lacks any collateral on which to foreclose to satisfy its claim in whole or in part. Such instruments generally have greater price volatility than that of fully secured holdings and may be less liquid.

**Securities Lending Risk**<br>To the extent the Fund lends its securities, it may be subject to the following risks: (i) the securities in which the Fund reinvests cash collateral may decrease in value, causing the Fund to incur a loss, or may not perform sufficiently to cover the Fund's payment to the borrower of a pre-negotiated fee or "rebate" for the use of that cash collateral in connection with the loan; (ii) non-cash collateral may decline in value, resulting in the Fund becoming under-secured; (iii) delays may occur in the recovery of loaned securities from borrowers, which could result in the Fund being unable to vote proxies or settle transactions or cause the Fund to incur increased costs; and (iv) if the borrower becomes subject to insolvency or similar proceedings, the Fund could incur delays in its ability to enforce its rights in its collateral.

**Securities Selection Risk**<br>Securities selected for the Fund may not perform to expectations. This could result in the Fund's underperformance compared to its performance index(es), or other funds with similar investment objectives or strategies.

**U.S. Government Securities and Government-Sponsored Enterprises Risk**<br>A security backed by the U.S. Treasury or the full faith and credit of the United States is guaranteed only as to the timely payment of coupons and the face value at maturity, not its current market price. The market prices for such securities are not guaranteed and will fluctuate. Certain securities held by the Fund that are issued by government-sponsored enterprises, such as the Federal National Mortgage Association (''Fannie Mae''), Federal Home Loan Mortgage Corporation (''Freddie Mac''), Federal Home Loan Bank (''FHLB''), and Federal Farm Credit Bank ("FFCB"), are not guaranteed by the U.S. Treasury and are not backed by the full faith and credit of the U.S. government, and no assurance can be given that the U.S. government will provide financial support if these organizations do not have the funds to meet future payment obligations. U.S. government securities and securities of government-sponsored enterprises are also subject to credit risk, interest rate risk and market risk. The rising U.S. national debt may lead to adverse impacts on the value of U.S. government securities due to potentially higher costs for the U.S. government to obtain new financing. It is possible that the U.S. government and government-sponsored enterprises will not have the funds to meet their payment obligations in the future.

**Value Stocks Risk**<br>Value stocks are subject to the risk that their intrinsic or full value may never be realized by the market, that a stock judged to be undervalued may be appropriately priced, or that their prices may decline. Although value stocks tend to be inexpensive relative to their earnings, they can continue to be inexpensive for long periods of time. The Fund's investments in value stocks seek to limit potential downside price risk over time; however, value stock prices still may decline substantially. In addition, the Fund may produce more modest gains as a trade-off for this potentially lower risk. The Fund's investment in value stocks could cause the Fund to underperform funds that use a growth or non-value approach to investing or have a broader investment style.

**Variable and Floating Rate Securities Risk**<br>The coupons on variable and floating-rate securities are not fixed and may fluctuate based upon changes in market rates. A variable rate security has a coupon that is adjusted at pre-designated periods in response to changes in the market rate of interest on which the coupon is based. The coupon on a floating rate security is generally based on an interest rate, such as a money-market index, Secured Overnight Financing Rate ("SOFR"), or a Treasury bill rate. Variable and floating rate securities are subject to interest rate risk and credit risk. As short-term interest rates decline, the coupons on variable and floating-rate securities typically decrease. Alternatively, during periods of rising short-term interest rates, the coupons on variable and floating-rate securities typically increase. Changes in the coupons of variable and floating-rate securities may lag behind changes in market rates or may have limits on the maximum increases in the coupon rates. The value of variable and floating-rate securities may decline if their coupons do not rise as much, or as quickly, as interest rates in general. Conversely, variable and floating rate securities will not generally increase in value if interest rates decline. Certain types of variable and floating rate instruments may be subject to greater liquidity risk than other debt securities.

**6** **American Beacon Balanced Fund** - Summary Prospectus

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Fund Performance

The bar chart and table below provide an indication of risk by showing changes in the Fund's performance over time. The bar chart shows how the Fund's performance has varied from year to year. The table shows how the Fund's average annual total returns compare to two broad-based securities market indices, as well as an additional market index and a composite index with characteristics that are similar to those of the Fund, for the periods indicated.

The chart and the table show the performance of the Fund's Investor Class shares for all periods. C Class shares automatically convert to A Class shares 8 years after purchase, if the conversion is available through your financial intermediary. In the table below, the performance for C Class shares reflects the performance as though C Class shares were held for the full 10-year period.

You may obtain updated performance information on the Fund's website at www.americanbeaconfunds.com. Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.

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| | |
|:---|:---|
| **Calendar year total returns for Investor Class Shares.** Year Ended 12/31 | **Calendar year total returns for Investor Class Shares.** Year Ended 12/31 |
| ![](sp2725img002.jpg)<br>| &nbsp;&nbsp;&nbsp; **Highest Quarterly Return:**<br>**15.36%** 4th Quarter 2020<br>01/01/2016 through 12/31/2025<br> **Lowest Quarterly Return:**<br>**-19.59%** 1st Quarter 2020<br>01/01/2016 through 12/31/2025 |

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**Average annual total returns** for periods ended December 31, 2025

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Inception Date** **of Class** | **1 Year** | **5 Years** | **10 Years** |
| **Investor Class** | **08/01/1994** |  |  |  |
| Returns Before Taxes |  | 11.25% | 8.04% | 8.21% |
| Returns After Taxes on Distributions |  | 8.17% | 5.45% | 5.71% |
| Returns After Taxes on Distributions and Sales of Fund Shares |  | 8.13% | 5.76% | 5.95% |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Inception Date** **of Class** | **1 Year** | **5 Years** | **10 Years** |
| **Share Class** (Before Taxes) |  |  |  |  |
| A | 05/17/2010 | 4.91% | 6.75% | 7.55% |
| C | 09/01/2010 | 9.47% | 7.21% | 7.38% |
| Y | 03/01/2010 | 11.54% | 8.28% | 8.47% |
| Advisor | 05/31/2005 | 11.07% | 7.87% | 8.02% |
| R5 | 07/17/1987 | 11.60% | 8.37% | 8.54% |

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| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Years** | **10 Years** |
| **Index** (Reflects no deduction for fees, expenses or taxes) |  |  |  |
| Bloomberg US Aggregate Bond Index | 7.30% | -0.36% | 2.01% |
| S&P 500® Index TR | 17.88% | 14.42% | 14.82% |
| Russell 1000® Value Index | 15.91% | 11.33% | 10.53% |
| Balanced Composite Index (40% Bloomberg US Aggregate Bond Index/60% Russell 1000® Value Index) | 12.48% | 6.69% | 7.32% |

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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local income taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The return after taxes on distributions and sale of Fund shares may exceed the return before taxes due to an assumed tax benefit from any losses on a sale of Fund shares at the end of the measurement period. If you are a tax-exempt entity or hold your Fund shares through a tax-deferred arrangement, such as an individual retirement account ("IRA") or a 401(k) plan, the after-tax returns do not apply to your situation. After-tax returns are shown only for Investor Class shares of the Fund; after-tax returns for other share classes will vary.

Management

**The Manager**<br>The Fund has retained American Beacon Advisors, Inc. to serve as its Manager.

**Sub-Advisors**<br>The Fund's assets are currently allocated among the Manager and the following investment sub-advisors:

■ Barrow,
 Hanley, Mewhinney & Strauss, LLC

■ Hotchkis
 and Wiley Capital Management, LLC

**American Beacon Balanced Fund** - Summary Prospectus**7**

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Portfolio Managers

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| | | |
|:---|:---|:---|
| **American Beacon Advisors, Inc.** | **Paul B. Cavazos**<br>Senior Vice President & Chief Investment Officer<br>Since 2016<br> **Kirk L. Brown** **\***<br>Senior Portfolio Manager<br>Since 2016<br> **Robyn A. Serrano**<br>Portfolio Manager<br>Since 2026 | **Samuel Silver**<br>Vice President, Chief Fixed Income Officer<br>Since 2014<br> **Erin Higginbotham**<br>Senior Portfolio Manager<br>Since 2011<br> **Patrick Sporl**<br>Senior Portfolio Manager<br>Since 2026 |
| **Barrow, Hanley, Mewhinney & Strauss, LLC** | **Mark Giambrone**<br>Portfolio Manager/Senior Managing Director<br>Since 2015<br> **J. Scott McDonald**<br>Portfolio Manager/Senior Managing Director<br>Co-Head of Fixed Income<br>Since 1998<br> **Justin Martin**<br>Portfolio Manager/Director<br>Since 2021 | **Deborah A. Petruzzelli**<br>Portfolio Manager/Managing Director<br>Since 2003<br> **Matthew Routh**<br>Portfolio Manager/Director<br>Since 2021 |
| **Hotchkis and Wiley Capital Management, LLC** | **George Davis**<br>Principal, Portfolio Manager, and Executive Chairman<br>Since 1989<br> **Scott McBride**<br>Portfolio Manager and Chief Executive Officer<br>Since 2004 | **Doug Campbell**<br>Portfolio Manager<br>Since 2024<br> **Patricia McKenna** **\*\***<br>Principal and Portfolio Manager<br>Since 1995 |

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\* Mr. Brown is expected to retire effective August 31, 2026. Therefore, effective August 31, 2026, all references to Mr. Brown in this Prospectus are deleted.

\*\* Ms. McKenna is expected to retire effective August 1, 2026. Therefore, effective August 1, 2026, all references to Ms. McKenna in this Prospectus are deleted.

Purchase and Sale of Fund Shares

You may buy or sell shares of the Fund through a retirement plan, an investment professional, a broker-dealer, or other financial intermediary. You may purchase or redeem shares of the Fund on any day the New York Stock Exchange ("NYSE") is open, at the Fund's net asset value ("NAV") per share next calculated after your order is received in proper form, subject to any applicable sales charge. The Manager may, in its sole discretion, allow certain individuals to invest directly in the Fund. For more information regarding eligibility to invest directly please see "About Your Investment - Purchase and Redemption of Shares." Direct mutual fund account shareholders may buy subsequent shares or sell shares in various ways:

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| | | |
|:---|:---|:---|
| **Internet** | **www.americanbeaconfunds.com** | **www.americanbeaconfunds.com** |
| **Phone** | **To reach an American Beacon representative call 1-800-658-5811, option 1**<br> **Through the Automated Voice Response Service call 1-800-658-5811, option 2 (Investor Class only)** | **To reach an American Beacon representative call 1-800-658-5811, option 1**<br> **Through the Automated Voice Response Service call 1-800-658-5811, option 2 (Investor Class only)** |
| **Mail** | **American Beacon Funds**<br> **P.O. Box 219643**<br> **Kansas City, MO 64121-9643** | **Overnight Delivery:**<br> **American Beacon Funds**<br> **801 Pennsylvania Ave, Suite 219643**<br> **Kansas City, MO 64105-1307** |

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| | | | |
|:---|:---|:---|:---|
| | **New Account** | **Existing Account** | **Existing Account** |
| <br>**Share Class** | **Minimum Initial Investment Amount** | **Purchase/Redemption Minimum by** **Check/ACH/Exchange** | **Purchase/Redemption Minimum by** **Wire** |
| C | $1000 | $50 | $250 |
| A, Investor | $2500 | $50 | $250 |
| Advisor | $2500 | $50 |  |
| Y | $100000 | $50 |  |
| R5 | $250000 | $50 |  |

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Tax Information

Dividends, capital gains distributions, and other distributions, if any, that you receive as a result of your investment in the Fund are subject to federal income tax and may also be subject to state and local income taxes, unless you are a tax-exempt entity or your account is tax-deferred, such as an individual retirement account ("IRA") or a 401(k) plan (in which case you may be taxed later, upon the withdrawal of your investment from such account or plan).

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and the Fund's distributor, Resolute Investment Distributors, Inc., or the Manager may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your individual financial professional to recommend the Fund over another investment. Ask your individual financial professional or visit your financial intermediary's website for more information.

**8** **American Beacon Balanced Fund** - Summary Prospectus