# EDGAR Filing Document

**Accession Number:** 0000809593
**File Stem:** 0001133228-25-013261
**Filing Date:** 2025-12
**Character Count:** 9268
**Document Hash:** 148da44a349dc55cf53f18fa3b57811d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-25-013261.hdr.sgml**: 20251205

**ACCESSION NUMBER**: 0001133228-25-013261

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 19

**FILED AS OF DATE**: 20251205

**DATE AS OF CHANGE**: 20251205

**EFFECTIVENESS DATE**: 20251205

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-11387
- **FILM NUMBER:** 251551624

**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 AHL Managed Futures Strategy Fund (Series ID: S000046078)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| A CLASS        | AHLAX         | C000144085 |
| C CLASS        | AHLCX         | C000144086 |
| Y CLASS        | AHLYX         | C000144087 |
| R5 Class       | AHLIX         | C000144088 |
| INVESTOR CLASS | AHLPX         | C000144089 |

---

## Series and Classes Contracts Data

### American Beacon AHL Managed Futures Strategy Fund (Series ID: S000046078)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000144085 | A CLASS        | AHLAX           |
| C000144086 | C CLASS        | AHLCX           |
| C000144087 | Y CLASS        | AHLYX           |
| C000144088 | R5 Class       | AHLIX           |
| C000144089 | INVESTOR CLASS | AHLPX           |

?xml version='1.0' encoding='ASCII'?

**American Beacon AHL Managed Futures Strategy Fund**

**Supplement dated December 5, 2025 to the Prospectus and Summary Prospectus,** 

**each dated May 1, 2025, as previously amended or supplemented** 

*At the recommendation of American Beacon Advisors, Inc. (the "Manager"), the Board of Trustees of American Beacon Funds approved a contractual agreement pursuant to which the Manager will waive fees and/or reimburse expenses of each share class of the American Beacon AHL Managed Futures Strategy Fund (the "Fund") to the extent that they exceed certain amounts. Accordingly, effective as of August 25, 2025, the following changes are made to the Fund's Prospectus and Summary Prospectus, as applicable:*

&nbsp;&nbsp;&nbsp;&nbsp;I. On page 1 of the Prospectus and Summary Prospectus, under the heading **"Fund Summary – American Beacon AHL Managed Futures Strategy Fund – Fees and Expenses of the Fund**, **"** the tables and corresponding footnotes following the first paragraph are deleted in their entirety and replaced with the following:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Share** **Class** | **A** | **C** | **Y** | **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) | <br> 0.50%<sup>1</sup> | <br> 1.00% |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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** | **R5** | **Investor** |
| Management Fees | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
| Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.00% | 0.00% | 0.00% |
| Other Expenses | 0.32% | 0.24% | 0.28% | 0.18% | 0.56% |
| **Total Annual Fund Operating Expenses** | **1.92%** | **2.59%** | **1.63%** | **1.53%** | **1.91%** |
| Fee Waiver and/or expense reimbursement<sup>2</sup> | (0.07%) | 0.00% | 0.00% | 0.00% | 0.00% |
| **Total Annual Fund Operating Expenses after fee waiver and/or expense reimbursement** | **1.85%** | **2.59%** | **1.63%** | **1.53%** | **1.91%** |

---

---

| | |
|:---|:---|
| 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. |

---

---

| | |
|:---|:---|
| 2 | American Beacon Advisors, Inc. (the "Manager") has contractually agreed to waive fees and/or reimburse expenses of the Fund's A Class, C Class, Y Class, R5 Class, and Investor Class shares, as applicable, through April 30, 2026, to the extent that Total Annual Fund Operating Expenses exceed 1.85% for the A Class, 2.62% for the C Class, 1.65% for the Y Class, 1.53% for the R5 Class, and 1.94% for the Investor Class (excluding taxes, interest, brokerage commissions, acquired fund fees and expenses, securities lending fees, expenses associated with securities sold short, litigation, and other extraordinary expenses). The contractual expense reimbursement can be changed or terminated only in the discretion and with the approval of a majority of the Fund's Board of Trustees ("Board"). The Manager will itself waive fees and/or reimburse expenses of the Fund to maintain the contractual expense ratio caps for each applicable class of shares or make arrangements with other service providers to do so. The Manager can be reimbursed by the Fund for any contractual fee waivers or expense reimbursements if reimbursement to the Manager (a) occurs within three years from the date of the Manager's waiver/reimbursement and (b) does not cause the Total Annual Fund Operating Expenses of a class to exceed the lesser of the contractual percentage limit in effect at the time of the waiver/reimbursement or the time of the recoupment. |

---

AHLMF-20251205-PRO

&nbsp;&nbsp;&nbsp;&nbsp;II. On
 page 1 of the Prospectus and Summary Prospectus, under the heading **"Fund Summary – American Beacon AHL Managed Futures Strategy Fund – Fees and Expenses of the Fund – Example**, **"** the section is deleted in its entirety and replaced
 with the following:

**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, except that the Example reflects the fee waiver/expense reimbursement arrangement for each share class through April 30, 2026. 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 | $752 | $1137 | $1546 | $2684 |
| C | $362 | $805 | $1375 | $2924 |
| Y | $166 | $514 | $886 | $1933 |
| R5 | $156 | $483 | $834 | $1824 |
| Investor | $194 | $600 | $1032 | $2233 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Assuming no redemption of shares: |  |  |  |  |
| **Share** **Class** | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| C | $262 | $805 | $1375 | $2924 |

---

&nbsp;&nbsp;&nbsp;&nbsp;III. On
 page 47 of the Prospectus, under the heading **"Fund Management – The Manager,"** the row in the table following the eighth paragraph related to the American Beacon AHL
 Managed Futures Strategy Fund is deleted and replaced with the following:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **American Beacon Fund** | **A Class** | **C Class** | **Y Class** | **R5 Class** | **R6 Class** | **Investor Class** |
| American Beacon AHL Managed Futures Strategy Fund | 1.85% | 2.62% | 1.65% | 1.53% | N/A | 1.94% |

---

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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE