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)
Jeffrey K. Ringdahl, PRESIDENT
220 East Las Colinas Blvd., Suite 1200
Irving, Texas 75039
(Name and address of agent for service)
Registrants telephone number, including area code: (817) 391-6100
Date of fiscal year end: October 31, 2022
Date of reporting period: July 31, 2022
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 Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 57.37% |
||||||||
Communication Services - 4.36% |
||||||||
Entertainment - 1.14% |
||||||||
Electronic Arts, Inc. |
6,815 | $ | 894,332 | |||||
Warner Bros Discovery, Inc.A |
49,199 | 737,985 | ||||||
|
|
|||||||
1,632,317 | ||||||||
|
|
|||||||
Interactive Media & Services - 0.75% |
||||||||
Alphabet, Inc., Class AA |
9,200 | 1,070,144 | ||||||
|
|
|||||||
Media - 1.65% |
||||||||
Altice USA, Inc., Class AA |
29,792 | 313,114 | ||||||
Comcast Corp., Class A |
32,415 | 1,216,211 | ||||||
News Corp., Class A |
24,500 | 419,930 | ||||||
Omnicom Group, Inc. |
2,786 | 194,574 | ||||||
Paramount Global, Class B |
8,700 | 205,755 | ||||||
|
|
|||||||
2,349,584 | ||||||||
|
|
|||||||
Wireless Telecommunication Services - 0.82% |
||||||||
T-Mobile U.S., Inc.A |
4,441 | 635,330 | ||||||
Vodafone Group PLC, ADR |
36,032 | 531,832 | ||||||
|
|
|||||||
1,167,162 | ||||||||
|
|
|||||||
Total Communication Services |
6,219,207 | |||||||
|
|
|||||||
Consumer Discretionary - 4.76% |
||||||||
Auto Components - 0.98% |
||||||||
Adient PLCA |
4,532 | 153,091 | ||||||
Aptiv PLCA |
3,000 | 314,670 | ||||||
Goodyear Tire & Rubber Co.A |
9,459 | 116,157 | ||||||
Magna International, Inc. |
12,804 | 817,663 | ||||||
|
|
|||||||
1,401,581 | ||||||||
|
|
|||||||
Automobiles - 0.80% |
||||||||
General Motors Co.A |
31,542 | 1,143,713 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure - 1.48% |
||||||||
Aramark |
23,656 | 790,110 | ||||||
Booking Holdings, Inc.A |
150 | 290,354 | ||||||
Las Vegas Sands Corp.A |
27,331 | 1,030,105 | ||||||
|
|
|||||||
2,110,569 | ||||||||
|
|
|||||||
Multiline Retail - 0.91% |
||||||||
Dollar General Corp. |
5,192 | 1,289,848 | ||||||
|
|
|||||||
Specialty Retail - 0.59% |
||||||||
Advance Auto Parts, Inc. |
4,351 | 842,441 | ||||||
|
|
|||||||
Total Consumer Discretionary |
6,788,152 | |||||||
|
|
|||||||
Consumer Staples - 1.71% |
||||||||
Beverages - 0.74% |
||||||||
Coca-Cola Europacific Partners PLC |
19,510 | 1,055,881 | ||||||
|
|
|||||||
Personal Products - 0.56% |
||||||||
Haleon PLC, ADR |
6,943 | 48,809 | ||||||
Unilever PLC, ADRB |
15,400 | 749,364 | ||||||
|
|
|||||||
798,173 | ||||||||
|
|
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 57.37% (continued) |
| |||||||
Consumer Staples - 1.71% (continued) |
| |||||||
Tobacco - 0.41% |
||||||||
Philip Morris International, Inc. |
5,974 | $ | 580,374 | |||||
|
|
|||||||
Total Consumer Staples |
2,434,428 | |||||||
|
|
|||||||
Energy - 6.54% |
||||||||
Energy Equipment & Services - 1.23% |
||||||||
Baker Hughes Co. |
5,900 | 151,571 | ||||||
Halliburton Co. |
26,441 | 774,721 | ||||||
NOV, Inc. |
35,000 | 651,350 | ||||||
Schlumberger NV |
4,700 | 174,041 | ||||||
|
|
|||||||
1,751,683 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels - 5.31% |
||||||||
APA Corp. |
21,114 | 784,807 | ||||||
Cenovus Energy, Inc. |
12,500 | 238,500 | ||||||
Hess Corp. |
17,902 | 2,013,438 | ||||||
Marathon Oil Corp. |
35,231 | 873,729 | ||||||
Murphy Oil Corp. |
8,000 | 281,120 | ||||||
Phillips 66 |
18,403 | 1,637,867 | ||||||
Pioneer Natural Resources Co. |
4,385 | 1,039,026 | ||||||
Shell PLC, ADR |
13,235 | 706,484 | ||||||
|
|
|||||||
7,574,971 | ||||||||
|
|
|||||||
Total Energy |
9,326,654 | |||||||
|
|
|||||||
Financials - 11.80% |
||||||||
Banks - 5.33% |
||||||||
Citigroup, Inc. |
39,557 | 2,053,008 | ||||||
Citizens Financial Group, Inc. |
10,668 | 405,064 | ||||||
First Citizens BancShares, Inc., Class A |
660 | 499,409 | ||||||
M&T Bank Corp. |
6,625 | 1,175,606 | ||||||
U.S. Bancorp |
15,368 | 725,370 | ||||||
Wells Fargo & Co. |
62,662 | 2,748,982 | ||||||
|
|
|||||||
7,607,439 | ||||||||
|
|
|||||||
Capital Markets - 2.76% |
||||||||
Bank of New York Mellon Corp. |
18,815 | 817,700 | ||||||
Credit Suisse Group AG, ADRB |
53,000 | 307,400 | ||||||
Goldman Sachs Group, Inc. |
3,417 | 1,139,194 | ||||||
Northern Trust Corp. |
9,070 | 905,004 | ||||||
State Street Corp. |
10,806 | 767,658 | ||||||
|
|
|||||||
3,936,956 | ||||||||
|
|
|||||||
Consumer Finance - 0.45% |
||||||||
American Express Co. |
4,148 | 638,875 | ||||||
|
|
|||||||
Diversified Financial Services - 0.15% |
||||||||
Equitable Holdings, Inc. |
7,300 | 207,539 | ||||||
|
|
|||||||
Insurance - 3.11% |
||||||||
Allstate Corp. |
6,245 | 730,478 | ||||||
American International Group, Inc. |
42,309 | 2,190,337 | ||||||
Hartford Financial Services Group, Inc. |
9,700 | 625,359 | ||||||
Travelers Cos., Inc. |
1,157 | 183,616 | ||||||
Willis Towers Watson PLC |
3,417 | 707,114 | ||||||
|
|
|||||||
4,436,904 | ||||||||
|
|
|||||||
Total Financials |
16,827,713 | |||||||
|
|
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 57.37% (continued) |
| |||||||
Health Care - 7.67% |
| |||||||
Health Care Equipment & Supplies - 0.91% |
| |||||||
Medtronic PLC |
11,333 | $ | 1,048,529 | |||||
Zimmer Biomet Holdings, Inc. |
2,332 | 257,430 | ||||||
|
|
|||||||
1,305,959 | ||||||||
|
|
|||||||
Health Care Providers & Services - 4.65% |
||||||||
Centene Corp.A |
6,700 | 622,899 | ||||||
CVS Health Corp. |
12,885 | 1,232,837 | ||||||
Elevance Health, Inc. |
5,239 | 2,499,527 | ||||||
HCA Healthcare, Inc. |
2,000 | 424,840 | ||||||
Humana, Inc. |
800 | 385,600 | ||||||
UnitedHealth Group, Inc. |
2,699 | 1,463,775 | ||||||
|
|
|||||||
6,629,478 | ||||||||
|
|
|||||||
Pharmaceuticals - 2.11% |
||||||||
GSK PLC, ADR |
5,554 | 234,229 | ||||||
Merck & Co., Inc. |
13,306 | 1,188,758 | ||||||
Perrigo Co. PLC |
29,735 | 1,245,005 | ||||||
Sanofi, ADR |
6,903 | 343,079 | ||||||
|
|
|||||||
3,011,071 | ||||||||
|
|
|||||||
Total Health Care |
10,946,508 | |||||||
|
|
|||||||
Industrials - 7.38% |
||||||||
Aerospace & Defense - 0.65% |
||||||||
Boeing Co.A |
3,200 | 509,792 | ||||||
Raytheon Technologies Corp. |
4,500 | 419,445 | ||||||
|
|
|||||||
929,237 | ||||||||
|
|
|||||||
Air Freight & Logistics - 0.70% |
||||||||
FedEx Corp. |
4,300 | 1,002,287 | ||||||
|
|
|||||||
Construction & Engineering - 0.85% |
||||||||
AECOM |
15,213 | 1,095,336 | ||||||
Fluor Corp.A |
4,600 | 116,886 | ||||||
|
|
|||||||
1,212,222 | ||||||||
|
|
|||||||
Electrical Equipment - 0.63% |
||||||||
Vertiv Holdings Co. |
78,574 | 897,315 | ||||||
|
|
|||||||
Industrial Conglomerates - 1.56% |
||||||||
General Electric Co. |
30,062 | 2,221,882 | ||||||
|
|
|||||||
Machinery - 2.41% |
||||||||
CNH Industrial NV |
41,580 | 537,214 | ||||||
Cummins, Inc. |
2,472 | 547,078 | ||||||
Deere & Co. |
3,242 | 1,112,589 | ||||||
Iveco Group NVA C |
11,255 | 69,181 | ||||||
PACCAR, Inc. |
4,639 | 424,561 | ||||||
Stanley Black & Decker, Inc. |
7,569 | 736,691 | ||||||
|
|
|||||||
3,427,314 | ||||||||
|
|
|||||||
Road & Rail - 0.58% |
||||||||
JB Hunt Transport Services, Inc. |
4,536 | 831,313 | ||||||
|
|
|||||||
Total Industrials |
10,521,570 | |||||||
|
|
|||||||
Information Technology - 7.49% |
||||||||
Communications Equipment - 1.01% |
||||||||
F5, Inc.A |
5,900 | 987,424 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 57.37% (continued) |
| |||||||
Information Technology - 7.49% (continued) |
| |||||||
Communications Equipment - 1.01% (continued) |
| |||||||
Telefonaktiebolaget LM Ericsson, ADRB |
60,420 | $ | 455,567 | |||||
|
|
|||||||
1,442,991 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components - 0.71% |
||||||||
Corning, Inc. |
15,095 | 554,892 | ||||||
TE Connectivity Ltd. |
3,358 | 449,065 | ||||||
|
|
|||||||
1,003,957 | ||||||||
|
|
|||||||
IT Services - 1.65% |
||||||||
Cognizant Technology Solutions Corp., Class A |
14,604 | 992,488 | ||||||
Fidelity National Information Services, Inc. |
11,095 | 1,133,465 | ||||||
Fiserv, Inc.A |
2,200 | 232,496 | ||||||
|
|
|||||||
2,358,449 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment - 1.37% |
||||||||
Broadcom, Inc. |
1,946 | 1,042,044 | ||||||
Micron Technology, Inc. |
6,700 | 414,462 | ||||||
QUALCOMM, Inc. |
3,427 | 497,121 | ||||||
|
|
|||||||
1,953,627 | ||||||||
|
|
|||||||
Software - 2.75% |
||||||||
Microsoft Corp. |
4,595 | 1,290,000 | ||||||
Oracle Corp. |
21,604 | 1,681,656 | ||||||
Workday, Inc., Class AA |
6,100 | 946,110 | ||||||
|
|
|||||||
3,917,766 | ||||||||
|
|
|||||||
Total Information Technology |
10,676,790 | |||||||
|
|
|||||||
Materials - 3.06% |
||||||||
Chemicals - 2.96% |
||||||||
Air Products & Chemicals, Inc. |
5,347 | 1,327,286 | ||||||
Axalta Coating Systems Ltd.A |
23,181 | 584,625 | ||||||
DuPont de Nemours, Inc. |
10,211 | 625,219 | ||||||
International Flavors & Fragrances, Inc. |
9,253 | 1,147,835 | ||||||
Olin Corp. |
10,200 | 533,154 | ||||||
|
|
|||||||
4,218,119 | ||||||||
|
|
|||||||
Containers & Packaging - 0.10% |
||||||||
International Paper Co. |
3,525 | 150,764 | ||||||
|
|
|||||||
Total Materials |
4,368,883 | |||||||
|
|
|||||||
Real Estate - 1.14% |
||||||||
Equity Real Estate Investment Trusts (REITs) - 1.14% |
||||||||
VICI Properties, Inc. |
47,362 | 1,619,307 | ||||||
|
|
|||||||
Utilities - 1.46% |
||||||||
Electric Utilities - 1.46% |
||||||||
Pinnacle West Capital Corp. |
13,572 | 997,135 | ||||||
PPL Corp. |
37,547 | 1,091,867 | ||||||
|
|
|||||||
2,089,002 | ||||||||
|
|
|||||||
Total Utilities |
2,089,002 | |||||||
|
|
|||||||
Total Common Stocks (Cost $67,887,034) |
81,818,214 | |||||||
|
|
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% |
||||||||
Basic Materials - 0.07% |
||||||||
Chemicals - 0.04% |
||||||||
EI du Pont de Nemours & Co., 1.700%, Due 7/15/2025 |
$ | 55,000 | $ | 52,532 | ||||
|
|
|||||||
Forest Products & Paper - 0.03% |
||||||||
International Paper Co., 6.000%, Due 11/15/2041 |
40,000 | 43,477 | ||||||
|
|
|||||||
Total Basic Materials |
96,009 | |||||||
|
|
|||||||
Communications - 1.31% |
||||||||
Internet - 0.46% |
||||||||
Amazon.com, Inc., |
||||||||
0.800%, Due 6/3/2025 |
350,000 | 329,082 | ||||||
1.200%, Due 6/3/2027 |
250,000 | 228,126 | ||||||
3.875%, Due 8/22/2037 |
105,000 | 105,977 | ||||||
|
|
|||||||
663,185 | ||||||||
|
|
|||||||
Media - 0.41% |
||||||||
Charter Communications Operating LLC/Charter Communications Operating Capital, |
||||||||
2.800%, Due 4/1/2031 |
50,000 | 42,232 | ||||||
3.500%, Due 3/1/2042 |
70,000 | 51,181 | ||||||
3.700%, Due 4/1/2051 |
60,000 | 42,574 | ||||||
Comcast Corp., |
||||||||
3.400%, Due 4/1/2030 |
70,000 | 68,239 | ||||||
1.950%, Due 1/15/2031 |
75,000 | 65,097 | ||||||
6.550%, Due 7/1/2039 |
217,000 | 268,162 | ||||||
2.887%, Due 11/1/2051 |
64,000 | 48,580 | ||||||
|
|
|||||||
586,065 | ||||||||
|
|
|||||||
Telecommunications - 0.44% |
||||||||
AT&T, Inc., 2.250%, Due 2/1/2032 |
50,000 | 42,601 | ||||||
T-Mobile USA, Inc., 3.875%, Due 4/15/2030 |
265,000 | 255,084 | ||||||
Verizon Communications, Inc., |
||||||||
4.329%, Due 9/21/2028 |
180,000 | 184,546 | ||||||
4.500%, Due 8/10/2033 |
50,000 | 50,969 | ||||||
3.400%, Due 3/22/2041 |
105,000 | 90,147 | ||||||
|
|
|||||||
623,347 | ||||||||
|
|
|||||||
Total Communications |
1,872,597 | |||||||
|
|
|||||||
Consumer, Cyclical - 1.43% |
||||||||
Airlines - 0.05% |
||||||||
American Airlines Pass-Through Trust, 3.150%, Due 8/15/2033, Series AA |
75,784 | 66,923 | ||||||
|
|
|||||||
Auto Manufacturers - 0.45% |
||||||||
American Honda Finance Corp., 2.000%, Due 3/24/2028 |
55,000 | 50,140 | ||||||
Toyota Motor Credit Corp., |
||||||||
2.500%, Due 3/22/2024 |
115,000 | 113,796 | ||||||
1.800%, Due 2/13/2025 |
500,000 | 481,260 | ||||||
|
|
|||||||
645,196 | ||||||||
|
|
|||||||
Home Furnishings - 0.03% |
||||||||
Whirlpool Corp., 4.600%, Due 5/15/2050 |
50,000 | 45,054 | ||||||
|
|
|||||||
Retail - 0.90% |
||||||||
AutoNation, Inc., 3.850%, Due 3/1/2032 |
110,000 | 98,191 | ||||||
Home Depot, Inc., |
||||||||
2.950%, Due 6/15/2029 |
500,000 | 482,325 | ||||||
1.375%, Due 3/15/2031 |
350,000 | 294,861 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% (continued) |
| |||||||
Consumer, Cyclical - 1.43% (continued) |
| |||||||
Retail - 0.90% (continued) |
| |||||||
Tractor Supply Co., 1.750%, Due 11/1/2030 |
$ | 60,000 | $ | 49,021 | ||||
Walmart, Inc., |
||||||||
2.375%, Due 9/24/2029 |
150,000 | 140,991 | ||||||
7.550%, Due 2/15/2030 |
169,000 | 213,577 | ||||||
|
|
|||||||
1,278,966 | ||||||||
|
|
|||||||
Total Consumer, Cyclical |
2,036,139 | |||||||
|
|
|||||||
Consumer, Non-Cyclical - 1.61% |
||||||||
Agriculture - 0.03% |
||||||||
Cargill, Inc., 1.375%, Due 7/23/2023D |
50,000 | 49,111 | ||||||
|
|
|||||||
Biotechnology - 0.04% |
||||||||
Amgen, Inc., 4.400%, Due 5/1/2045 |
55,000 | 53,683 | ||||||
|
|
|||||||
Commercial Services - 0.12% |
||||||||
Moodys Corp., 2.550%, Due 8/18/2060 |
50,000 | 33,290 | ||||||
Quanta Services, Inc., |
||||||||
2.900%, Due 10/1/2030 |
100,000 | 86,412 | ||||||
3.050%, Due 10/1/2041 |
70,000 | 50,671 | ||||||
|
|
|||||||
170,373 | ||||||||
|
|
|||||||
Food - 0.35% |
||||||||
Mondelez International, Inc., 1.500%, Due 2/4/2031 |
50,000 | 40,960 | ||||||
Nestle Holdings, Inc., 1.150%, Due 1/14/2027D |
500,000 | 457,308 | ||||||
|
|
|||||||
498,268 | ||||||||
|
|
|||||||
Health Care - Services - 0.46% |
||||||||
Childrens Health System of Texas, 2.511%, Due 8/15/2050 |
65,000 | 45,892 | ||||||
Community Health Network, Inc., 3.099%, Due 5/1/2050, Series 20 A |
80,000 | 59,079 | ||||||
Health Care Service Corp. A Mutual Legal Reserve Co., 3.200%, Due 6/1/2050D |
40,000 | 31,533 | ||||||
Kaiser Foundation Hospitals, 3.002%, Due 6/1/2051, Series 2021 |
50,000 | 38,778 | ||||||
UnitedHealth Group, Inc., |
||||||||
0.550%, Due 5/15/2024 |
350,000 | 334,400 | ||||||
3.875%, Due 12/15/2028 |
140,000 | 143,512 | ||||||
|
|
|||||||
653,194 | ||||||||
|
|
|||||||
Pharmaceuticals - 0.61% |
||||||||
AbbVie, Inc., |
||||||||
4.450%, Due 5/14/2046 |
45,000 | 43,370 | ||||||
4.875%, Due 11/14/2048 |
85,000 | 87,068 | ||||||
Bristol-Myers Squibb Co., 3.400%, Due 7/26/2029 |
588,000 | 585,005 | ||||||
CVS Health Corp., |
||||||||
4.300%, Due 3/25/2028 |
39,000 | 39,643 | ||||||
5.050%, Due 3/25/2048 |
30,000 | 30,532 | ||||||
Viatris, Inc., 3.850%, Due 6/22/2040 |
35,000 | 25,721 | ||||||
Zoetis, Inc., 3.000%, Due 9/12/2027 |
60,000 | 57,845 | ||||||
|
|
|||||||
869,184 | ||||||||
|
|
|||||||
Total Consumer, Non-Cyclical |
2,293,813 | |||||||
|
|
|||||||
Energy - 0.80% |
||||||||
Oil & Gas - 0.37% |
||||||||
Chevron USA, Inc., 2.343%, Due 8/12/2050 |
50,000 | 36,918 | ||||||
ConocoPhillips Co., 2.125%, Due 3/8/2024 |
135,000 | 132,698 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% (continued) |
| |||||||
Energy - 0.80% (continued) |
| |||||||
Oil & Gas - 0.37% (continued) |
| |||||||
Diamondback Energy, Inc., |
||||||||
3.125%, Due 3/24/2031 |
$ | 140,000 | $ | 126,863 | ||||
4.250%, Due 3/15/2052 |
80,000 | 69,309 | ||||||
Marathon Petroleum Corp., 5.125%, Due 12/15/2026 |
35,000 | 36,251 | ||||||
Phillips 66 Co., 3.750%, Due 3/1/2028D |
65,000 | 62,771 | ||||||
Pioneer Natural Resources Co., |
||||||||
1.900%, Due 8/15/2030 |
45,000 | 38,074 | ||||||
2.150%, Due 1/15/2031 |
25,000 | 21,433 | ||||||
|
|
|||||||
524,317 | ||||||||
|
|
|||||||
Pipelines - 0.43% |
||||||||
Cheniere Corpus Christi Holdings LLC, 2.742%, Due 12/31/2039 |
53,000 | 42,792 | ||||||
MPLX LP, |
||||||||
1.750%, Due 3/1/2026 |
75,000 | 68,958 | ||||||
4.125%, Due 3/1/2027 |
65,000 | 64,301 | ||||||
ONEOK, Inc., 4.550%, Due 7/15/2028 |
65,000 | 64,201 | ||||||
Sabine Pass Liquefaction LLC, |
||||||||
4.200%, Due 3/15/2028 |
180,000 | 175,847 | ||||||
4.500%, Due 5/15/2030 |
50,000 | 49,524 | ||||||
Williams Cos., Inc., |
||||||||
2.600%, Due 3/15/2031 |
100,000 | 86,995 | ||||||
5.400%, Due 3/4/2044 |
60,000 | 59,703 | ||||||
|
|
|||||||
612,321 | ||||||||
|
|
|||||||
Total Energy |
1,136,638 | |||||||
|
|
|||||||
Financial - 5.33% |
||||||||
Banks - 3.61% |
||||||||
Bank of America Corp., |
||||||||
4.125%, Due 1/22/2024 |
193,000 | 195,759 | ||||||
1.734%, Due 7/22/2027, (Secured Overnight Financing Rate + 0.960%)E |
350,000 | 317,551 | ||||||
2.592%, Due 4/29/2031, (Secured Overnight Financing Rate + 2.150%)E |
70,000 | 61,377 | ||||||
2.299%, Due 7/21/2032, (Secured Overnight Financing Rate + 1.220%)E |
205,000 | 172,420 | ||||||
6.110%, Due 1/29/2037 |
176,000 | 198,360 | ||||||
3.846%, Due 3/8/2037, (5 yr. CMT + 2.000%)E |
75,000 | 67,920 | ||||||
2.676%, Due 6/19/2041, (Secured Overnight Financing Rate + 1.930%)E |
80,000 | 60,963 | ||||||
5.000%, Due 1/21/2044 |
65,000 | 66,702 | ||||||
Citigroup, Inc., |
||||||||
1.281%, Due 11/3/2025, (Secured Overnight Financing Rate + 0.528%)E |
40,000 | 37,399 | ||||||
3.400%, Due 5/1/2026 |
350,000 | 344,377 | ||||||
4.412%, Due 3/31/2031, (Secured Overnight Financing Rate + 3.914%)E |
260,000 | 257,382 | ||||||
5.875%, Due 1/30/2042 |
145,000 | 162,587 | ||||||
Fifth Third Bank NA, 2.250%, Due 2/1/2027 |
500,000 | 469,345 | ||||||
Goldman Sachs Group, Inc., |
||||||||
1.431%, Due 3/9/2027, (Secured Overnight Financing Rate + 0.798%)E |
110,000 | 99,382 | ||||||
1.542%, Due 9/10/2027, (Secured Overnight Financing Rate + 0.818%)E |
100,000 | 89,484 | ||||||
2.615%, Due 4/22/2032, (Secured Overnight Financing Rate + 1.281%)E |
55,000 | 47,532 | ||||||
JPMorgan Chase & Co., |
||||||||
3.625%, Due 5/13/2024 |
434,000 | 437,774 | ||||||
2.301%, Due 10/15/2025, (Secured Overnight Financing Rate + 1.160%)E |
160,000 | 153,496 | ||||||
3.782%, Due 2/1/2028, (3 mo. USD LIBOR + 1.337%)E |
85,000 | 83,501 | ||||||
2.963%, Due 1/25/2033, (Secured Overnight Financing Rate + 1.260%)E |
100,000 | 89,112 | ||||||
3.882%, Due 7/24/2038, (3 mo. USD LIBOR + 1.360%)E |
90,000 | 83,491 | ||||||
5.500%, Due 10/15/2040 |
313,000 | 338,886 | ||||||
Morgan Stanley, |
||||||||
0.864%, Due 10/21/2025, Series I, (Secured Overnight Financing Rate + 0.745%)E |
90,000 | 83,576 | ||||||
3.591%, Due 7/22/2028, (3 mo. USD LIBOR + 1.340%)E |
145,000 | 140,307 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% (continued) |
| |||||||
Financial - 5.33% (continued) |
| |||||||
Banks - 3.61% (continued) |
| |||||||
Morgan Stanley (continued) |
||||||||
1.794%, Due 2/13/2032, (Secured Overnight Financing Rate + 1.034%)E |
$ | 115,000 | $ | 94,132 | ||||
2.239%, Due 7/21/2032, (Secured Overnight Financing Rate + 1.178%)E |
65,000 | 54,966 | ||||||
PNC Financial Services Group, Inc., |
||||||||
3.400%, Due 9/15/2026, Series T, (5 yr. CMT + 2.595%)E F |
80,000 | 65,600 | ||||||
2.550%, Due 1/22/2030 |
500,000 | 447,928 | ||||||
State Street Corp., |
||||||||
2.354%, Due 11/1/2025, (Secured Overnight Financing Rate + 0.940%)E |
65,000 | 63,275 | ||||||
2.200%, Due 3/3/2031 |
55,000 | 46,823 | ||||||
Truist Financial Corp., 1.267%, Due 3/2/2027, (Secured Overnight Financing Rate + 0.609%)E |
55,000 | 50,118 | ||||||
U.S. Bancorp, 4.967%, Due 7/22/2033, (Secured Overnight Financing Rate + 2.110%)E |
60,000 | 62,371 | ||||||
Wells Fargo & Co., |
||||||||
2.572%, Due 2/11/2031, (Secured Overnight Financing Rate + 1.262%)E |
160,000 | 141,129 | ||||||
5.375%, Due 11/2/2043 |
65,000 | 67,044 | ||||||
|
|
|||||||
5,152,069 | ||||||||
|
|
|||||||
Diversified Financial Services - 0.31% |
||||||||
American Express Co., 4.200%, Due 11/6/2025 |
60,000 | 61,234 | ||||||
Charles Schwab Corp., |
||||||||
0.750%, Due 3/18/2024 |
45,000 | 43,330 | ||||||
3.250%, Due 5/22/2029 |
65,000 | 62,608 | ||||||
CME Group, Inc., 2.650%, Due 3/15/2032 |
120,000 | 110,881 | ||||||
Intercontinental Exchange, Inc., 4.950%, Due 6/15/2052 |
60,000 | 62,365 | ||||||
Visa, Inc., 3.150%, Due 12/14/2025 |
95,000 | 94,950 | ||||||
|
|
|||||||
435,368 | ||||||||
|
|
|||||||
Insurance - 0.87% |
||||||||
Berkshire Hathaway Finance Corp., |
||||||||
2.300%, Due 3/15/2027 |
300,000 | 291,186 | ||||||
3.850%, Due 3/15/2052 |
65,000 | 59,587 | ||||||
CNA Financial Corp., 4.500%, Due 3/1/2026 |
80,000 | 81,180 | ||||||
Fidelity National Financial, Inc., 3.200%, Due 9/17/2051 |
65,000 | 42,614 | ||||||
MetLife, Inc., |
||||||||
6.375%, Due 6/15/2034 |
169,000 | 200,913 | ||||||
4.721%, Due 12/15/2044 |
193,000 | 191,992 | ||||||
Progressive Corp., 2.500%, Due 3/15/2027 |
70,000 | 67,335 | ||||||
Prudential Financial, Inc., 4.600%, Due 5/15/2044 |
313,000 | 308,169 | ||||||
|
|
|||||||
1,242,976 | ||||||||
|
|
|||||||
REITS - 0.54% |
||||||||
Alexandria Real Estate Equities, Inc., 1.875%, Due 2/1/2033 |
65,000 | 51,019 | ||||||
American Tower Corp., 2.300%, Due 9/15/2031 |
80,000 | 66,500 | ||||||
Camden Property Trust, 3.150%, Due 7/1/2029 |
70,000 | 66,026 | ||||||
Crown Castle International Corp., |
||||||||
3.800%, Due 2/15/2028 |
50,000 | 48,641 | ||||||
2.900%, Due 4/1/2041 |
55,000 | 41,983 | ||||||
Digital Realty Trust LP, 3.700%, Due 8/15/2027 |
55,000 | 53,715 | ||||||
Prologis LP, 1.250%, Due 10/15/2030 |
50,000 | 41,223 | ||||||
Public Storage, 2.250%, Due 11/9/2031 |
100,000 | 87,054 | ||||||
Simon Property Group LP, 3.375%, Due 10/1/2024 |
313,000 | 311,079 | ||||||
|
|
|||||||
767,240 | ||||||||
|
|
|||||||
Total Financial |
7,597,653 | |||||||
|
|
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% (continued) |
| |||||||
Industrial - 1.24% |
||||||||
Aerospace/Defense - 0.27% |
||||||||
Boeing Co., 2.750%, Due 2/1/2026 |
$ | 90,000 | $ | 85,927 | ||||
Northrop Grumman Corp., 3.850%, Due 4/15/2045 |
55,000 | 49,445 | ||||||
Raytheon Technologies Corp., 6.125%, Due 7/15/2038 |
217,000 | 252,860 | ||||||
|
|
|||||||
388,232 | ||||||||
|
|
|||||||
Building Materials - 0.09% |
||||||||
Martin Marietta Materials, Inc., 0.650%, Due 7/15/2023 |
40,000 | 38,875 | ||||||
Vulcan Materials Co., 3.500%, Due 6/1/2030 |
95,000 | 88,177 | ||||||
|
|
|||||||
127,052 | ||||||||
|
|
|||||||
Environmental Control - 0.04% |
||||||||
Waste Connections, Inc., 2.200%, Due 1/15/2032 |
65,000 | 55,736 | ||||||
|
|
|||||||
Machinery - Diversified - 0.32% |
||||||||
John Deere Capital Corp., 2.450%, Due 1/9/2030 |
500,000 | 464,135 | ||||||
|
|
|||||||
Miscellaneous Manufacturing - 0.04% |
||||||||
Carlisle Cos., Inc., 2.200%, Due 3/1/2032 |
65,000 | 52,531 | ||||||
|
|
|||||||
Packaging & Containers - 0.08% |
||||||||
Amcor Flexibles North America, Inc., 2.690%, Due 5/25/2031 |
50,000 | 42,601 | ||||||
Berry Global, Inc., 1.650%, Due 1/15/2027 |
80,000 | 70,920 | ||||||
|
|
|||||||
113,521 | ||||||||
|
|
|||||||
Transportation - 0.40% |
||||||||
Burlington Northern Santa Fe LLC, |
||||||||
5.750%, Due 5/1/2040 |
202,000 | 233,915 | ||||||
4.450%, Due 1/15/2053 |
60,000 | 61,890 | ||||||
CSX Corp., 5.500%, Due 4/15/2041 |
157,000 | 173,734 | ||||||
FedEx Corp., 3.250%, Due 5/15/2041 |
55,000 | 45,266 | ||||||
Union Pacific Corp., 4.100%, Due 9/15/2067 |
55,000 | 50,800 | ||||||
|
|
|||||||
565,605 | ||||||||
|
|
|||||||
Total Industrial |
1,766,812 | |||||||
|
|
|||||||
Technology - 2.13% |
||||||||
Computers - 1.26% |
||||||||
Apple, Inc., |
||||||||
1.400%, Due 8/5/2028 |
200,000 | 180,519 | ||||||
2.200%, Due 9/11/2029 |
300,000 | 279,819 | ||||||
Dell International LLC/EMC Corp., |
||||||||
5.300%, Due 10/1/2029 |
140,000 | 142,162 | ||||||
3.450%, Due 12/15/2051D |
70,000 | 49,474 | ||||||
Hewlett Packard Enterprise Co., 6.350%, Due 10/15/2045 |
500,000 | 530,404 | ||||||
HP, Inc., 4.050%, Due 9/15/2022 |
145,000 | 145,211 | ||||||
International Business Machines Corp., 4.250%, Due 5/15/2049 |
500,000 | 466,047 | ||||||
|
|
|||||||
1,793,636 | ||||||||
|
|
|||||||
Semiconductors - 0.77% |
||||||||
Entegris Escrow Corp., 4.750%, Due 4/15/2029D |
70,000 | 67,397 | ||||||
Intel Corp., 1.600%, Due 8/12/2028 |
500,000 | 454,246 | ||||||
Lam Research Corp., |
||||||||
3.750%, Due 3/15/2026 |
35,000 | 35,549 | ||||||
1.900%, Due 6/15/2030 |
105,000 | 91,969 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 15.42% (continued) |
| |||||||
Technology - 2.13% (continued) |
| |||||||
Semiconductors - 0.77% (continued) |
| |||||||
NVIDIA Corp., 1.550%, Due 6/15/2028 |
$ | 500,000 | $ | 454,562 | ||||
|
|
|||||||
1,103,723 | ||||||||
|
|
|||||||
Software - 0.10% |
||||||||
Oracle Corp., 4.300%, Due 7/8/2034 |
82,000 | 75,144 | ||||||
VMware, Inc., 2.200%, Due 8/15/2031 |
80,000 | 65,088 | ||||||
|
|
|||||||
140,232 | ||||||||
|
|
|||||||
Total Technology |
3,037,591 | |||||||
|
|
|||||||
Utilities - 1.50% |
||||||||
Electric - 1.37% |
||||||||
American Electric Power Co., Inc., 2.031%, Due 3/15/2024 |
120,000 | 116,745 | ||||||
Appalachian Power Co., 4.500%, Due 3/1/2049, Series Y |
25,000 | 23,200 | ||||||
Berkshire Hathaway Energy Co., 6.125%, Due 4/1/2036 |
235,000 | 271,088 | ||||||
Consolidated Edison Co. of New York, Inc., 5.500%, Due 12/1/2039, Series 09 C |
169,000 | 180,542 | ||||||
Consumers Energy Co., 2.500%, Due 5/1/2060 |
55,000 | 37,904 | ||||||
Dominion Energy, Inc., 3.375%, Due 4/1/2030, Series C |
55,000 | 52,344 | ||||||
DTE Energy Co., 1.050%, Due 6/1/2025, Series F |
90,000 | 83,474 | ||||||
Duke Energy Corp., 2.650%, Due 9/1/2026 |
75,000 | 71,806 | ||||||
Duke Energy Progress LLC, 4.150%, Due 12/1/2044 |
75,000 | 71,088 | ||||||
Duke Energy Progress NC Storm Funding LLC, 2.387%, Due 7/1/2039, Series A 2 |
265,000 | 245,852 | ||||||
Entergy Arkansas LLC, 3.350%, Due 6/15/2052 |
55,000 | 45,591 | ||||||
Entergy Corp., 2.800%, Due 6/15/2030 |
45,000 | 39,819 | ||||||
Entergy Louisiana LLC, 4.000%, Due 3/15/2033 |
47,000 | 46,820 | ||||||
Exelon Corp., 4.050%, Due 4/15/2030 |
60,000 | 59,717 | ||||||
Florida Power & Light Co., 3.950%, Due 3/1/2048 |
50,000 | 47,995 | ||||||
Kentucky Utilities Co., 3.300%, Due 6/1/2050 |
85,000 | 69,997 | ||||||
National Rural Utilities Cooperative Finance Corp., 1.000%, Due 10/18/2024, Series D |
65,000 | 61,607 | ||||||
Northern States Power Co., 2.600%, Due 6/1/2051 |
70,000 | 54,165 | ||||||
Ohio Power Co., 2.600%, Due 4/1/2030, Series P |
60,000 | 54,668 | ||||||
Oklahoma Gas & Electric Co., 0.553%, Due 5/26/2023 |
70,000 | 68,411 | ||||||
Sempra Energy, 3.300%, Due 4/1/2025 |
110,000 | 108,771 | ||||||
Vistra Operations Co. LLC, 5.125%, Due 5/13/2025D |
150,000 | 149,948 | ||||||
|
|
|||||||
1,961,552 | ||||||||
|
|
|||||||
Gas - 0.13% |
||||||||
National Fuel Gas Co., 3.950%, Due 9/15/2027 |
80,000 | 75,209 | ||||||
Sempra Global, 3.250%, Due 1/15/2032D |
75,000 | 65,626 | ||||||
Southern California Gas Co., 2.550%, Due 2/1/2030, Series XX |
50,000 | 46,261 | ||||||
|
|
|||||||
187,096 | ||||||||
|
|
|||||||
Total Utilities |
2,148,648 | |||||||
|
|
|||||||
Total Corporate Obligations (Cost $23,321,678) |
21,985,900 | |||||||
|
|
|||||||
FOREIGN CORPORATE OBLIGATIONS - 2.95% |
||||||||
Basic Materials - 0.09% |
||||||||
Mining - 0.09% |
||||||||
Glencore Funding LLC, 2.625%, Due 9/23/2031D |
45,000 | 37,003 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
FOREIGN CORPORATE OBLIGATIONS - 2.95% (continued) |
| |||||||
Basic Materials - 0.09% (continued) |
| |||||||
Mining - 0.09% (continued) |
| |||||||
Teck Resources Ltd., 6.000%, Due 8/15/2040 |
$ | 90,000 | $ | 89,903 | ||||
|
|
|||||||
126,906 | ||||||||
|
|
|||||||
Total Basic Materials |
126,906 | |||||||
|
|
|||||||
Communications - 0.76% |
||||||||
Internet - 0.22% |
||||||||
Alibaba Group Holding Ltd., 3.600%, Due 11/28/2024 |
313,000 | 310,573 | ||||||
|
|
|||||||
Media - 0.24% |
||||||||
Thomson Reuters Corp., |
||||||||
4.300%, Due 11/23/2023 |
145,000 | 146,325 | ||||||
3.850%, Due 9/29/2024 |
193,000 | 191,728 | ||||||
|
|
|||||||
338,053 | ||||||||
|
|
|||||||
Telecommunications - 0.30% |
||||||||
America Movil SAB de CV, 6.375%, Due 3/1/2035 |
169,000 | 198,570 | ||||||
Bell Canada, Inc., 4.464%, Due 4/1/2048 |
25,000 | 23,948 | ||||||
Deutsche Telekom International Finance BV, 4.875%, Due 3/6/2042D |
150,000 | 150,030 | ||||||
TELUS Corp., 3.400%, Due 5/13/2032 |
60,000 | 55,619 | ||||||
|
|
|||||||
428,167 | ||||||||
|
|
|||||||
Total Communications |
1,076,793 | |||||||
|
|
|||||||
Consumer, Non-Cyclical - 0.56% |
||||||||
Agriculture - 0.09% |
||||||||
BAT Capital Corp., 2.259%, Due 3/25/2028 |
80,000 | 68,547 | ||||||
Reynolds American, Inc., 5.700%, Due 8/15/2035 |
60,000 | 57,636 | ||||||
|
|
|||||||
126,183 | ||||||||
|
|
|||||||
Beverages - 0.47% |
||||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.900%, Due 2/1/2046 |
35,000 | 35,622 | ||||||
Anheuser-Busch InBev Worldwide, Inc., |
||||||||
5.450%, Due 1/23/2039 |
500,000 | 539,507 | ||||||
5.550%, Due 1/23/2049 |
35,000 | 38,799 | ||||||
Coca-Cola Femsa SAB de CV, 2.750%, Due 1/22/2030 |
70,000 | 64,211 | ||||||
|
|
|||||||
678,139 | ||||||||
|
|
|||||||
Total Consumer, Non-Cyclical |
804,322 | |||||||
|
|
|||||||
Energy - 0.62% |
||||||||
Oil & Gas - 0.37% |
||||||||
Saudi Arabian Oil Co., 4.375%, Due 4/16/2049D |
500,000 | 470,141 | ||||||
TotalEnergies Capital International SA, 3.127%, Due 5/29/2050 |
70,000 | 57,247 | ||||||
|
|
|||||||
527,388 | ||||||||
|
|
|||||||
Pipelines - 0.25% |
||||||||
Enbridge, Inc., 2.500%, Due 2/14/2025 |
70,000 | 67,700 | ||||||
TransCanada PipeLines Ltd., |
||||||||
3.750%, Due 10/16/2023 |
145,000 | 145,133 | ||||||
1.000%, Due 10/12/2024 |
60,000 | 56,345 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
FOREIGN CORPORATE OBLIGATIONS - 2.95% (continued) |
| |||||||
Energy - 0.62% (continued) |
| |||||||
Pipelines - 0.25% (continued) |
| |||||||
TransCanada PipeLines Ltd., (continued) |
||||||||
6.100%, Due 6/1/2040 |
$ | 82,000 | $ | 91,242 | ||||
|
|
|||||||
360,420 | ||||||||
|
|
|||||||
Total Energy |
887,808 | |||||||
|
|
|||||||
Financial - 0.65% |
||||||||
Banks - 0.56% |
||||||||
Mitsubishi UFJ Financial Group, Inc., 2.193%, Due 2/25/2025 |
75,000 | 71,665 | ||||||
Royal Bank of Canada, |
||||||||
2.250%, Due 11/1/2024 |
115,000 | 112,112 | ||||||
1.200%, Due 4/27/2026 |
500,000 | 455,821 | ||||||
Toronto-Dominion Bank, 3.250%, Due 3/11/2024 |
160,000 | 159,494 | ||||||
|
|
|||||||
799,092 | ||||||||
|
|
|||||||
Financial Services - 0.09% |
||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.000%, Due 10/29/2028 |
150,000 | 131,390 | ||||||
|
|
|||||||
Total Financial |
930,482 | |||||||
|
|
|||||||
Industrial - 0.27% |
||||||||
Aerospace/Defense - 0.22% |
||||||||
BAE Systems Holdings, Inc., 3.800%, Due 10/7/2024D |
313,000 | 310,358 | ||||||
|
|
|||||||
Transportation - 0.05% |
||||||||
Canadian Pacific Railway Co., 3.100%, Due 12/2/2051 |
95,000 | 75,953 | ||||||
|
|
|||||||
Total Industrial |
386,311 | |||||||
|
|
|||||||
Total Foreign Corporate Obligations (Cost $4,336,385) |
4,212,622 | |||||||
|
|
|||||||
FOREIGN SOVEREIGN OBLIGATIONS - 0.04% (Cost $69,969) |
| |||||||
Mexico Government International Bonds, 4.600%, Due 1/23/2046 |
65,000 | 54,665 | ||||||
|
|
|||||||
ASSET-BACKED OBLIGATIONS - 1.78% |
| |||||||
Ally Auto Receivables Trust, 3.310%, Due 11/15/2026, 2022 1 A3 |
110,000 | 109,310 | ||||||
AmeriCredit Automobile Receivables Trust, |
||||||||
0.370%, Due 8/18/2025, 2021 1 A3 |
82,857 | 81,614 | ||||||
0.340%, Due 12/18/2026, 2021 2 A3 |
70,000 | 68,024 | ||||||
4.380%, Due 4/18/2028, 2021 2 A3 |
90,000 | 90,873 | ||||||
BMW Vehicle Owner Trust, 3.210%, Due 8/25/2026, 2022 A A3 |
55,000 | 54,854 | ||||||
Capital One Multi-Asset Execution Trust, 0.550%, Due 7/15/2026, 2021 A1 A1 |
115,000 | 109,122 | ||||||
CNH Equipment Trust, |
||||||||
1.160%, Due 6/16/2025, 2020 A A3 |
54,356 | 53,626 | ||||||
0.400%, Due 12/15/2025, 2021 A A3 |
95,000 | 91,711 | ||||||
Ford Credit Auto Lease Trust, 3.230%, Due 5/15/2025, 2022 2 A3 |
150,000 | 149,248 | ||||||
Ford Credit Auto Owner Trust, 1.530%, Due 5/15/2034, 2021 2 AD |
110,000 | 100,490 | ||||||
GM Financial Automobile Leasing Trust, 1.900%, Due 3/20/2025, 2022 1 A3 |
105,000 | 102,619 | ||||||
GM Financial Consumer Automobile Receivables Trust, |
||||||||
1.840%, Due 9/16/2024, 2020 1 A3 |
42,063 | 41,892 | ||||||
1.490%, Due 12/16/2024, 2020 2 A3 |
21,803 | 21,614 | ||||||
GM Financial Revolving Receivables Trust, 1.170%, Due 6/12/2034, 2021 1 AD |
90,000 | 81,889 | ||||||
Honda Auto Receivables Owner Trust, 1.880%, Due 5/15/2026, 2022 1 A3 |
120,000 | 116,370 | ||||||
John Deere Owner Trust, |
||||||||
2.320%, Due 9/16/2026, 2022 A A3 |
95,000 | 92,718 | ||||||
3.740%, Due 2/16/2027, 2022 B A3 |
100,000 | 100,410 | ||||||
Mercedes-Benz Auto Lease Trust, 0.400%, Due 11/15/2024, 2021 B A3 |
150,000 | 145,511 | ||||||
New Economy Assets Phase 1 Sponsor LLC, 1.910%, Due 10/20/2061, 2021 1 A1D |
125,000 | 110,302 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
ASSET-BACKED OBLIGATIONS - 1.78% (continued) |
| |||||||
PSNH Funding LLC, 3.094%, Due 2/1/2026, 2018 1 A1 |
$ | 41,631 | $ | 41,457 | ||||
Taco Bell Funding LLC, 2.294%, Due 8/25/2051, 2021 1A A2IID |
99,500 | 84,813 | ||||||
Toyota Auto Loan Extended Note Trust, 1.350%, Due 5/25/2033, 2020 1A AD |
135,000 | 127,069 | ||||||
Toyota Auto Receivables Owner Trust, |
||||||||
1.360%, Due 8/15/2024, 2020 B A3 |
75,849 | 75,161 | ||||||
1.230%, Due 6/15/2026, 2022 A A3 |
95,000 | 91,311 | ||||||
Verizon Master Trust, 0.500%, Due 5/20/2027, 2021 1 A |
200,000 | 189,690 | ||||||
Verizon Owner Trust, 1.850%, Due 7/22/2024, 2020 A A1A |
99,298 | 98,820 | ||||||
Volkswagen Auto Loan Enhanced Trust, 1.020%, Due 6/22/2026, 2021 1 A3 |
110,000 | 105,852 | ||||||
|
|
|||||||
Total Asset-Backed Obligations (Cost $2,635,053) |
2,536,370 | |||||||
|
|
|||||||
COMMERCIAL MORTGAGE-BACKED OBLIGATIONS - 0.17% |
| |||||||
BX Commercial Mortgage Trust, 2.699%, Due 9/15/2036, 2021 VOLT A, (1 mo. USD LIBOR + 0.700%)D E |
140,000 | 134,637 | ||||||
Cold Storage Trust, 2.899%, Due 11/15/2037, 2020 ICE5 A, (1 mo. USD LIBOR + 0.900%)D E |
113,044 | 110,518 | ||||||
|
|
|||||||
Total Commercial Mortgage-Backed Obligations (Cost $253,044) |
245,155 | |||||||
|
|
|||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 7.50% |
| |||||||
Federal Home Loan Mortgage Corp., |
||||||||
3.500%, Due 9/1/2028 |
16,617 | 16,860 | ||||||
3.000%, Due 11/1/2032 |
56,696 | 56,894 | ||||||
5.000%, Due 8/1/2033 |
19,680 | 20,701 | ||||||
5.500%, Due 2/1/2034 |
19,414 | 20,809 | ||||||
2.500%, Due 6/1/2035 |
78,765 | 76,856 | ||||||
2.000%, Due 3/1/2036 |
220,566 | 210,180 | ||||||
2.000%, Due 10/1/2040 |
84,927 | 78,778 | ||||||
2.000%, Due 1/1/2041 |
196,492 | 182,266 | ||||||
4.000%, Due 1/1/2041 |
52,637 | 54,284 | ||||||
4.500%, Due 2/1/2041 |
37,602 | 39,127 | ||||||
2.500%, Due 9/1/2041 |
309,598 | 295,257 | ||||||
2.500%, Due 11/1/2041 |
322,443 | 307,506 | ||||||
3.500%, Due 5/1/2042 |
156,197 | 156,424 | ||||||
3.500%, Due 6/1/2042 |
165,787 | 167,805 | ||||||
3.000%, Due 4/1/2047 |
179,919 | 176,257 | ||||||
3.500%, Due 1/1/2048 |
168,733 | 169,850 | ||||||
4.000%, Due 4/1/2048 |
78,177 | 79,801 | ||||||
3.000%, Due 8/1/2048 |
125,829 | 123,158 | ||||||
3.000%, Due 11/1/2049 |
250,624 | 243,239 | ||||||
2.500%, Due 11/1/2051 |
154,125 | 144,657 | ||||||
2.500%, Due 5/1/2052 |
124,762 | 116,779 | ||||||
|
|
|||||||
2,737,488 | ||||||||
|
|
|||||||
Federal National Mortgage Association, |
||||||||
3.500%, Due 1/1/2028G |
13,535 | 13,728 | ||||||
5.000%, Due 3/1/2034G |
21,435 | 22,260 | ||||||
4.500%, Due 4/1/2034 |
33,050 | 34,020 | ||||||
3.000%, Due 10/1/2034 |
5,232 | 5,247 | ||||||
2.000%, Due 11/1/2035G |
164,381 | 156,948 | ||||||
2.000%, Due 12/1/2035G |
71,682 | 68,350 | ||||||
2.000%, Due 1/1/2036G |
128,473 | 122,422 | ||||||
2.000%, Due 5/1/2036 |
62,228 | 59,297 | ||||||
2.000%, Due 6/1/2036 |
92,955 | 88,576 | ||||||
3.500%, Due 6/1/2037 |
97,077 | 99,369 | ||||||
5.500%, Due 6/1/2038 |
4,544 | 4,864 | ||||||
4.500%, Due 1/1/2040 |
38,822 | 40,445 | ||||||
5.000%, Due 5/1/2040 |
64,757 | 68,773 | ||||||
5.000%, Due 6/1/2040 |
48,452 | 51,470 | ||||||
4.000%, Due 9/1/2040 |
34,344 | 35,388 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 7.50% (continued) |
| |||||||
Federal National Mortgage Association, (continued) |
||||||||
4.000%, Due 1/1/2041 |
$ | 71,094 | $ | 73,083 | ||||
2.500%, Due 11/1/2041 |
131,240 | 125,161 | ||||||
3.000%, Due 6/1/2043 |
318,465 | 314,085 | ||||||
3.500%, Due 7/1/2043 |
62,758 | 63,339 | ||||||
3.000%, Due 8/1/2043 |
291,584 | 287,368 | ||||||
4.000%, Due 11/1/2044G |
46,229 | 47,489 | ||||||
4.000%, Due 7/1/2045 |
183,006 | 187,751 | ||||||
3.500%, Due 8/1/2045 |
34,064 | 34,255 | ||||||
3.500%, Due 11/1/2045 |
307,423 | 309,377 | ||||||
3.500%, Due 1/1/2046 |
124,651 | 125,525 | ||||||
3.500%, Due 5/1/2046 |
31,664 | 31,828 | ||||||
4.000%, Due 7/1/2046 |
65,990 | 67,791 | ||||||
3.000%, Due 10/1/2046 |
25,095 | 24,570 | ||||||
3.000%, Due 11/1/2046 |
153,122 | 149,898 | ||||||
3.000%, Due 12/1/2046G |
89,535 | 87,662 | ||||||
3.500%, Due 3/1/2047 |
34,499 | 34,719 | ||||||
4.500%, Due 7/1/2047 |
20,795 | 21,434 | ||||||
4.500%, Due 8/1/2047 |
30,285 | 31,263 | ||||||
3.500%, Due 9/1/2047 |
43,536 | 43,777 | ||||||
4.000%, Due 3/1/2048 |
50,931 | 51,871 | ||||||
4.500%, Due 4/1/2048 |
14,760 | 15,090 | ||||||
4.500%, Due 7/1/2048 |
48,013 | 49,351 | ||||||
4.500%, Due 7/1/2048G |
36,686 | 37,788 | ||||||
4.500%, Due 10/1/2049 |
110,861 | 113,643 | ||||||
4.000%, Due 11/1/2049 |
194,142 | 197,278 | ||||||
2.500%, Due 8/1/2050G |
186,650 | 175,151 | ||||||
2.500%, Due 8/1/2050 |
194,502 | 182,096 | ||||||
3.000%, Due 8/1/2050 |
105,809 | 102,568 | ||||||
2.500%, Due 9/1/2050 |
128,919 | 120,798 | ||||||
2.500%, Due 10/1/2050G |
59,088 | 55,330 | ||||||
3.000%, Due 10/1/2050G |
249,960 | 243,077 | ||||||
3.000%, Due 11/1/2050G |
66,578 | 64,518 | ||||||
2.000%, Due 3/1/2051G |
477,867 | 431,971 | ||||||
2.000%, Due 4/1/2051G |
270,253 | 245,272 | ||||||
3.000%, Due 5/1/2051G |
131,651 | 128,688 | ||||||
3.000%, Due 6/1/2051 |
140,610 | 135,962 | ||||||
3.500%, Due 6/1/2051G |
157,682 | 156,703 | ||||||
3.500%, Due 7/1/2051 G |
144,749 | 144,661 | ||||||
3.000%, Due 11/1/2051G |
192,514 | 186,009 | ||||||
|
|
|||||||
5,769,357 | ||||||||
|
|
|||||||
Government National Mortgage Association, |
||||||||
6.500%, Due 8/15/2027 |
12,696 | 13,390 | ||||||
6.500%, Due 11/15/2027 |
14,746 | 15,552 | ||||||
7.500%, Due 12/15/2028 |
14,447 | 15,412 | ||||||
5.500%, Due 7/15/2033 |
20,350 | 22,187 | ||||||
6.000%, Due 12/15/2033 |
28,372 | 31,349 | ||||||
5.500%, Due 2/20/2034 |
28,706 | 30,315 | ||||||
5.000%, Due 10/15/2039 |
48,128 | 50,871 | ||||||
3.500%, Due 9/15/2041 |
96,993 | 98,910 | ||||||
3.500%, Due 8/20/2047 |
18,200 | 18,355 | ||||||
3.500%, Due 10/20/2047 |
16,832 | 16,966 | ||||||
4.000%, Due 1/20/2048 |
84,204 | 85,945 | ||||||
5.000%, Due 1/20/2050 |
42,905 | 44,386 | ||||||
4.500%, Due 2/20/2050 |
37,075 | 38,323 | ||||||
5.000%, Due 2/20/2050 |
22,210 | 23,014 | ||||||
2.500%, Due 4/20/2050 |
173,210 | 165,591 | ||||||
2.500%, Due 6/20/2051 |
168,433 | 160,459 | ||||||
3.000%, Due 6/20/2051 |
74,341 | 72,684 |
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 7.50% (continued) |
| |||||||
Government National Mortgage Association, (continued) |
||||||||
2.500%, Due 7/20/2051 |
$ | 263,631 | $ | 251,088 | ||||
3.000%, Due 8/20/2051 |
163,942 | 161,829 | ||||||
2.500%, Due 11/20/2051 |
133,066 | 126,675 | ||||||
3.000%, Due 12/20/2051 |
324,453 | 316,681 | ||||||
3.500%, Due 1/20/2052 |
116,677 | 116,402 | ||||||
4.000%, Due 3/20/2052 |
241,261 | 244,358 | ||||||
2.500%, Due 4/20/2052 |
74,008 | 70,300 | ||||||
|
|
|||||||
2,191,042 | ||||||||
|
|
|||||||
Total U.S. Agency Mortgage-Backed Obligations (Cost $11,209,342) |
10,697,887 | |||||||
|
|
|||||||
U.S. TREASURY OBLIGATIONS - 11.63% |
||||||||
U.S. Treasury Bonds, |
||||||||
6.875%, Due 8/15/2025 |
279,000 | 311,303 | ||||||
5.250%, Due 11/15/2028 |
217,000 | 248,440 | ||||||
4.750%, Due 2/15/2037 |
304,000 | 380,617 | ||||||
4.500%, Due 8/15/2039 |
241,000 | 294,274 | ||||||
2.250%, Due 5/15/2041 |
365,000 | 315,098 | ||||||
1.750%, Due 8/15/2041 |
495,000 | 390,219 | ||||||
2.750%, Due 8/15/2042 |
250,000 | 232,051 | ||||||
2.875%, Due 5/15/2049 |
500,000 | 482,637 | ||||||
1.375%, Due 8/15/2050 |
1,050,000 | 718,307 | ||||||
|
|
|||||||
3,372,946 | ||||||||
|
|
|||||||
U.S. Treasury Notes, |
||||||||
1.750%, Due 9/30/2022 |
250,000 | 249,804 | ||||||
2.000%, Due 2/15/2023 |
200,000 | 199,047 | ||||||
1.250%, Due 7/31/2023 |
345,000 | 339,232 | ||||||
2.750%, Due 7/31/2023 |
500,000 | 498,867 | ||||||
2.500%, Due 8/15/2023 |
964,000 | 959,368 | ||||||
2.125%, Due 11/30/2023 |
250,000 | 247,334 | ||||||
2.375%, Due 2/29/2024 |
200,000 | 198,219 | ||||||
0.250%, Due 3/15/2024 |
150,000 | 143,607 | ||||||
1.250%, Due 8/31/2024 |
725,000 | 700,843 | ||||||
1.750%, Due 12/31/2024 |
700,000 | 681,789 | ||||||
1.125%, Due 1/15/2025 |
250,000 | 239,688 | ||||||
1.125%, Due 2/28/2025 |
1,415,000 | 1,354,365 | ||||||
2.875%, Due 7/31/2025 |
500,000 | 500,527 | ||||||
0.625%, Due 7/31/2026 |
500,000 | 459,727 | ||||||
1.625%, Due 10/31/2026 |
500,000 | 477,676 | ||||||
2.000%, Due 11/15/2026 |
500,000 | 484,687 | ||||||
1.750%, Due 12/31/2026 |
650,000 | 623,898 | ||||||
1.500%, Due 1/31/2027 |
930,000 | 881,974 | ||||||
2.875%, Due 5/15/2028 |
200,000 | 201,531 | ||||||
2.875%, Due 8/15/2028 |
100,000 | 100,785 | ||||||
2.625%, Due 2/15/2029 |
450,000 | 447,908 | ||||||
2.375%, Due 5/15/2029 |
450,000 | 441,105 | ||||||
1.625%, Due 8/15/2029 |
350,000 | 327,100 | ||||||
1.750%, Due 11/15/2029 |
1,700,000 | 1,601,984 | ||||||
1.500%, Due 2/15/2030 |
925,000 | 853,421 | ||||||
|
|
|||||||
13,214,486 | ||||||||
|
|
|||||||
Total U.S. Treasury Obligations (Cost $17,198,096) |
16,587,432 | |||||||
|
|
|||||||
Shares | ||||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 2.92% (Cost $4,163,225) |
||||||||
Investment Companies - 2.92% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%H I |
4,163,225 | 4,163,225 | ||||||
|
|
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
SECURITIES LENDING COLLATERAL - 0.41% (Cost $591,723) |
||||||||
Investment Companies - 0.41% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%H I |
591,723 | $ | 591,723 | |||||
|
|
|||||||
TOTAL INVESTMENTS - 100.19% (Cost $131,665,549) |
142,893,193 | |||||||
LIABILITIES, NET OF OTHER ASSETS - (0.19%) |
(266,267 | ) | ||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 142,626,926 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | Non-income producing security. |
B | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
C | Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amounted to $69,181 or 0.05% of net assets. |
D | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $2,650,418 or 1.86% of net assets. The Fund has no right to demand registration of these securities. |
E | Variable, floating, or adjustable rate securities with an interest rate that changes periodically. Rates are periodically reset with rates that are based on a predetermined benchmark such as a widely followed interest rate such as T-bills, SOFR, LIBOR or PRIME plus a fixed spread. The interest rate disclosed reflects the rate in effect on July 31, 2022. |
F | Perpetual maturity. The date shown, if any, is the next call date. |
G | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. The coupon rate shown represents the rate at period end. |
H | The Fund is affiliated by having the same investment advisor. |
I | 7-day yield. |
ADR - American Depositary Receipt.
CMT - Constant Maturity Treasury.
DAC - Designated Activity Company.
LIBOR - London Interbank Offered Rate.
LLC - Limited Liability Company.
LP - Limited Partnership.
PLC - Public Limited Company.
PRIME - A rate, charged by banks, based on the U.S. Federal Funds rate.
SOFR - Secured Overnight Financing Rate.
Long Futures Contracts Open on July 31, 2022:
Equity Futures Contracts
Description |
Number of Contracts |
Expiration Date |
Notional Amount | Contract Value | Unrealized Appreciation (Depreciation) |
|||||||||||
CME e-Mini Standard & Poors 500 Index Futures |
19 | September 2022 | $ | 3,647,907 | $ | 3,926,825 | $ | 278,918 | ||||||||
|
|
|
|
|
|
|||||||||||
$ | 3,647,907 | $ | 3,926,825 | $ | 278,918 | |||||||||||
|
|
|
|
|
|
Index Abbreviations:
CME |
Chicago Mercantile Exchange. |
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
See accompanying notes
American Beacon Balanced FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Balanced Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
| |||||||||||||||
Common Stocks |
$ | 81,749,033 | $ | 69,181 | $ | | $ | 81,818,214 | ||||||||
Corporate Obligations |
| 21,985,900 | | 21,985,900 | ||||||||||||
Foreign Corporate Obligations |
| 4,212,622 | | 4,212,622 | ||||||||||||
Foreign Sovereign Obligations |
| 54,665 | | 54,665 | ||||||||||||
Asset-Backed Obligations |
| 2,536,370 | | 2,536,370 | ||||||||||||
Commercial Mortgage-Backed Obligations |
| 245,155 | | 245,155 | ||||||||||||
U.S. Agency Mortgage-Backed Obligations |
| 10,697,887 | | 10,697,887 | ||||||||||||
U.S. Treasury Obligations |
| 16,587,432 | | 16,587,432 | ||||||||||||
Short-Term Investments |
4,163,225 | | | 4,163,225 | ||||||||||||
Securities Lending Collateral |
591,723 | | | 591,723 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | 86,503,981 | $ | 56,389,212 | $ | | $ | 142,893,193 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Financial Derivative Instruments - Assets |
| |||||||||||||||
Futures Contracts |
$ | 278,918 | $ | | $ | | $ | 278,918 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Financial Derivative Instruments - Assets |
$ | 278,918 | $ | | $ | | $ | 278,918 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon Garcia Hamilton Quality Bond FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Principal Amount | Fair Value | |||||||
CORPORATE OBLIGATIONS - 23.59% |
||||||||
Communications - 2.55% |
||||||||
Media - 2.55% |
||||||||
Walt Disney Co., 3.800%, Due 3/22/2030 |
$ | 10,230,000 | $ | 10,283,928 | ||||
|
|
|||||||
Financial - 18.39% |
||||||||
Banks - 18.39% |
||||||||
Bank of America Corp., 3.974%, Due 2/7/2030, (3 mo. USD LIBOR + 1.210%)A |
12,336,000 | 11,972,586 | ||||||
Citigroup, Inc., 3.980%, Due 3/20/2030, (3 mo. USD LIBOR + 1.338%)A |
16,865,000 | 16,349,078 | ||||||
Goldman Sachs Group, Inc., 4.223%, Due 5/1/2029, (3 mo. USD LIBOR + 1.301%)A |
16,150,000 | 15,970,554 | ||||||
JPMorgan Chase & Co., 2.739%, Due 10/15/2030, (Secured Overnight Financing Rate + 1.510%)A |
8,750,000 | 7,857,016 | ||||||
Morgan Stanley, 3.622%, Due 4/1/2031, (Secured Overnight Financing Rate + 3.120%)A |
7,265,000 | 6,902,554 | ||||||
Wells Fargo & Co., 4.478%, Due 4/4/2031, (Secured Overnight Financing Rate + 4.032%)A |
15,130,000 | 15,227,568 | ||||||
|
|
|||||||
74,279,356 | ||||||||
|
|
|||||||
Total Financial |
74,279,356 | |||||||
|
|
|||||||
Technology - 2.65% |
||||||||
Computers - 2.65% |
||||||||
International Business Machines Corp., 3.500%, Due 5/15/2029 |
10,964,000 | 10,693,242 | ||||||
|
|
|||||||
Total Corporate Obligations (Cost $101,985,973) |
95,256,526 | |||||||
|
|
|||||||
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 15.88% |
||||||||
Federal Home Loan Mortgage Corp., |
||||||||
4.000%, Due 2/1/2039 |
4,887,489 | 4,987,439 | ||||||
3.500%, Due 10/1/2039 |
4,133,300 | 4,159,732 | ||||||
3.000%, Due 1/1/2040 |
4,318,083 | 4,252,933 | ||||||
Federal National Mortgage Association, |
||||||||
4.000%, Due 5/1/2039 |
7,977,006 | 8,144,751 | ||||||
4.000%, Due 9/1/2039 |
6,158,969 | 6,288,599 | ||||||
3.500%, Due 10/1/2039 |
5,929,464 | 5,951,286 | ||||||
3.500%, Due 11/1/2039B |
4,654,015 | 4,669,173 | ||||||
3.000%, Due 7/1/2040B |
7,802,969 | 7,673,845 | ||||||
3.000%, Due 8/1/2040B |
5,063,424 | 4,987,638 | ||||||
4.000%, Due 8/1/2040B |
4,738,373 | 4,837,554 | ||||||
4.000%, Due 6/1/2049B |
8,038,055 | 8,189,318 | ||||||
|
|
|||||||
Total U.S. Agency Mortgage-Backed Obligations (Cost $67,485,436) |
64,142,268 | |||||||
|
|
|||||||
U.S. TREASURY OBLIGATIONS - 59.43% |
||||||||
U.S. Treasury Bonds, |
||||||||
3.750%, Due 8/15/2041 |
37,890,000 | 41,304,540 | ||||||
2.500%, Due 5/15/2046 |
29,805,000 | 26,110,810 | ||||||
U.S. Treasury Notes, |
||||||||
2.500%, Due 2/28/2026 |
14,155,000 | 14,015,109 | ||||||
1.875%, Due 7/31/2026 |
3,975,000 | 3,842,862 | ||||||
2.375%, Due 5/15/2027 |
9,375,000 | 9,222,656 | ||||||
2.250%, Due 11/15/2027 |
16,525,000 | 16,129,304 | ||||||
2.375%, Due 5/15/2029 |
20,090,000 | 19,692,909 | ||||||
1.500%, Due 2/15/2030 |
74,740,000 | 68,956,409 | ||||||
1.125%, Due 2/15/2031 |
45,890,000 | 40,702,279 | ||||||
|
|
|||||||
Total U.S. Treasury Obligations (Cost $236,029,081) |
239,976,878 | |||||||
|
|
See accompanying notes
American Beacon Garcia Hamilton Quality Bond FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Fair Value | ||||||||
TOTAL INVESTMENTS - 98.90% (Cost $405,500,490) |
$ | 399,375,672 | ||||||
OTHER ASSETS, NET OF LIABILITIES - 1.10% |
4,461,133 | |||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 403,836,805 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | Variable, floating, or adjustable rate securities with an interest rate that changes periodically. Rates are periodically reset with rates that are based on a predetermined benchmark such as a widely followed interest rate such as T-bills, SOFR, LIBOR or PRIME plus a fixed spread. The interest rate disclosed reflects the rate in effect on July 31, 2022. |
B | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. The coupon rate shown represents the rate at period end. |
LIBOR - London Interbank Offered Rate.
PRIME - A rate, charged by banks, based on the U.S. Federal Funds rate.
SOFR - Secured Overnight Financing Rate.
USD - United States Dollar.
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
Garcia Hamilton Quality Bond Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Corporate Obligations |
$ | | $ | 95,256,526 | $ | | $ | 95,256,526 | ||||||||
U.S. Agency Mortgage-Backed Obligations |
| 64,142,268 | | 64,142,268 | ||||||||||||
U.S. Treasury Obligations |
| 239,976,878 | | 239,976,878 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | | $ | 399,375,672 | $ | | $ | 399,375,672 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
Brazil - 0.56% (Cost $11,598,850) |
||||||||
Common Stocks - 0.56% |
||||||||
ERO Copper Corp.A B |
897,463 | $ | 8,879,666 | |||||
|
|
|||||||
Canada - 3.67% |
||||||||
Common Stocks - 3.67% |
||||||||
Alimentation Couche-Tard, Inc. |
116,245 | 5,193,375 | ||||||
CAE, Inc.B |
220,477 | 5,833,244 | ||||||
Canadian National Railway Co. |
89,569 | 11,347,295 | ||||||
Cogeco Communications, Inc.A |
80,703 | 5,223,905 | ||||||
Gildan Activewear, Inc. |
144,070 | 4,222,363 | ||||||
Linamar Corp.A |
305,298 | 13,918,471 | ||||||
Suncor Energy, Inc. |
367,016 | 12,455,988 | ||||||
|
|
|||||||
Total Common Stocks |
58,194,641 | |||||||
|
|
|||||||
Total Canada (Cost $57,520,855) |
58,194,641 | |||||||
|
|
|||||||
China/Hong Kong - 4.81% |
||||||||
Common Stocks - 4.81% |
||||||||
Alibaba Group Holding Ltd.B C |
672,300 | 7,595,726 | ||||||
Baidu, Inc., Class AB C |
824,800 | 14,124,094 | ||||||
ESR Group Ltd.B C D |
3,325,000 | 8,638,012 | ||||||
Prudential PLCC |
1,841,644 | 22,705,034 | ||||||
Sands China Ltd.B C |
4,064,800 | 9,590,193 | ||||||
Tencent Holdings Ltd.C |
347,300 | 13,662,008 | ||||||
|
|
|||||||
Total Common Stocks |
76,315,067 | |||||||
|
|
|||||||
Total China/Hong Kong (Cost $110,058,750) |
76,315,067 | |||||||
|
|
|||||||
Denmark - 0.98% |
||||||||
Common Stocks - 0.98% |
||||||||
Carlsberg AS, Class BC |
89,430 | 11,581,715 | ||||||
Vestas Wind Systems ASC |
151,447 | 3,962,210 | ||||||
|
|
|||||||
Total Common Stocks |
15,543,925 | |||||||
|
|
|||||||
Total Denmark (Cost $14,792,174) |
15,543,925 | |||||||
|
|
|||||||
Finland - 0.82% |
||||||||
Common Stocks - 0.82% |
||||||||
Nordea Bank AbpC |
894,374 | 8,814,083 | ||||||
Sampo OYJ, Class AC |
97,385 | 4,203,028 | ||||||
|
|
|||||||
Total Common Stocks |
13,017,111 | |||||||
|
|
|||||||
Total Finland (Cost $12,911,544) |
13,017,111 | |||||||
|
|
|||||||
France - 13.45% |
||||||||
Common Stocks - 13.45% |
||||||||
Air Liquide SAC |
169,971 | 23,425,635 | ||||||
Alstom SAA C |
460,793 | 10,979,236 | ||||||
Amundi SAC D |
2,624 | 142,264 | ||||||
AXA SAC |
468,490 | 10,815,340 | ||||||
BNP Paribas SAC |
437,980 | 20,760,351 | ||||||
Capgemini SEC |
52,333 | 9,986,758 | ||||||
Carrefour SAC |
243,544 | 4,154,099 | ||||||
Danone SAC |
207,920 | 11,464,110 | ||||||
Engie SAC |
1,114,574 | 13,803,900 | ||||||
Pernod Ricard SAC |
29,842 | 5,873,214 | ||||||
Publicis Groupe SAC |
314,118 | 16,786,411 | ||||||
SanofiC |
608,693 | 60,566,645 | ||||||
Thales SAC |
58,651 | 7,291,691 |
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
France - 13.45% (continued) |
| |||||||
Common Stocks - 13.45% (continued) |
| |||||||
TotalEnergies SEC |
129,961 | $ | 6,629,386 | |||||
Valeo SAC |
122,567 | 2,630,031 | ||||||
Vinci SAC |
82,145 | 7,883,426 | ||||||
|
|
|||||||
Total Common Stocks |
213,192,497 | |||||||
|
|
|||||||
Total France (Cost $213,258,757) |
213,192,497 | |||||||
|
|
|||||||
Germany - 9.69% |
||||||||
Common Stocks - 9.69% |
||||||||
Bayer AGC |
119,856 | 6,984,826 | ||||||
Bayerische Motoren Werke AGC |
334,592 | 27,203,476 | ||||||
Continental AGC |
395,232 | 27,954,651 | ||||||
Deutsche Telekom AGC |
270,155 | 5,110,594 | ||||||
Infineon Technologies AGC |
263,081 | 7,145,217 | ||||||
Mercedes-Benz Group AGC |
405,367 | 23,717,070 | ||||||
Merck KGaAC |
70,820 | 13,451,135 | ||||||
MTU Aero Engines AGC |
52,395 | 10,079,468 | ||||||
Rheinmetall AGC |
27,616 | 5,055,676 | ||||||
RWE AGC |
245,484 | 10,123,517 | ||||||
SAP SEC |
155,004 | 14,366,923 | ||||||
Siemens AGC |
21,617 | 2,400,162 | ||||||
|
|
|||||||
Total Common Stocks |
153,592,715 | |||||||
|
|
|||||||
Total Germany (Cost $159,256,967) |
153,592,715 | |||||||
|
|
|||||||
Ireland - 1.98% |
||||||||
Common Stocks - 1.98% |
||||||||
ICON PLCB |
58,452 | 14,101,545 | ||||||
Ryanair Holdings PLC, ADRB |
235,570 | 17,196,610 | ||||||
|
|
|||||||
Total Common Stocks |
31,298,155 | |||||||
|
|
|||||||
Total Ireland (Cost $32,126,722) |
31,298,155 | |||||||
|
|
|||||||
Israel - 0.68% (Cost $7,614,061) |
||||||||
Common Stocks - 0.68% |
||||||||
Bank Leumi Le-Israel BMC |
1,099,547 | 10,749,498 | ||||||
|
|
|||||||
Italy - 3.34% |
||||||||
Common Stocks - 3.34% |
||||||||
Enel SpAC |
4,471,427 | 22,593,940 | ||||||
UniCredit SpAC |
3,061,441 | 30,314,701 | ||||||
|
|
|||||||
Total Common Stocks |
52,908,641 | |||||||
|
|
|||||||
Total Italy (Cost $69,007,911) |
52,908,641 | |||||||
|
|
|||||||
Japan - 13.71% |
||||||||
Common Stocks - 13.71% |
||||||||
Alfresa Holdings Corp.C |
71,316 | 950,552 | ||||||
Asics Corp.C |
402,500 | 7,643,692 | ||||||
Bandai Namco Holdings, Inc.C |
107,300 | 8,384,776 | ||||||
Digital Garage, Inc.C |
129,300 | 3,757,743 | ||||||
Disco Corp.C |
31,800 | 7,730,771 | ||||||
FANUC Corp.C |
71,400 | 12,335,944 | ||||||
Haseko Corp.C |
280,000 | 3,410,427 | ||||||
Hazama Ando Corp.C |
501,200 | 3,374,350 | ||||||
Hitachi Ltd.C |
110,300 | 5,597,038 | ||||||
MatsukiyoCocokara & Co.C |
265,800 | 10,040,660 | ||||||
Mitsubishi UFJ Financial Group, Inc.C |
2,408,900 | 13,578,057 |
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
Japan - 13.71% (continued) |
| |||||||
Common Stocks - 13.71% (continued) |
| |||||||
Mizuho Financial Group, Inc.C |
988,680 | $ | 11,762,169 | |||||
Murata Manufacturing Co. Ltd.C |
131,000 | 7,667,509 | ||||||
Nexon Co. Ltd.C |
264,059 | 6,001,190 | ||||||
Olympus Corp.C |
478,200 | 10,134,527 | ||||||
SUMCO Corp.C |
794,000 | 11,103,728 | ||||||
Sumitomo Mitsui Financial Group, Inc.C |
560,200 | 17,556,753 | ||||||
Sumitomo Rubber Industries Ltd.C |
1,126,700 | 10,157,281 | ||||||
Suzuken Co. Ltd.C |
185,100 | 5,087,328 | ||||||
Suzuki Motor Corp.C |
210,100 | 6,866,048 | ||||||
Taisei Corp.C |
300,700 | 9,593,639 | ||||||
Takeda Pharmaceutical Co. Ltd.C |
1,044,600 | 30,736,361 | ||||||
Toho Holdings Co. Ltd.A C |
233,500 | 3,575,491 | ||||||
Yamaha Corp.C |
240,500 | 10,260,069 | ||||||
|
|
|||||||
Total Common Stocks |
217,306,103 | |||||||
|
|
|||||||
Total Japan (Cost $240,130,848) |
217,306,103 | |||||||
|
|
|||||||
Netherlands - 4.77% |
||||||||
Common Stocks - 4.77% |
||||||||
Aegon NVC |
3,674,124 | 16,141,236 | ||||||
Akzo Nobel NVC |
273,321 | 18,433,205 | ||||||
ING Groep NVC |
903,203 | 8,777,700 | ||||||
Koninklijke Philips NVC |
327,373 | 6,791,389 | ||||||
Shell PLCC |
110,161 | 2,937,752 | ||||||
Universal Music Group NVC |
392,790 | 8,922,007 | ||||||
Wolters Kluwer NVC |
124,839 | 13,564,574 | ||||||
|
|
|||||||
Total Common Stocks |
75,567,863 | |||||||
|
|
|||||||
Total Netherlands (Cost $75,672,156) |
75,567,863 | |||||||
|
|
|||||||
Norway - 0.91% |
||||||||
Common Stocks - 0.91% |
||||||||
Equinor ASAC |
189,816 | 7,300,297 | ||||||
Telenor ASAC |
582,667 | 7,056,061 | ||||||
|
|
|||||||
Total Common Stocks |
14,356,358 | |||||||
|
|
|||||||
Total Norway (Cost $12,569,441) |
14,356,358 | |||||||
|
|
|||||||
Portugal - 0.43% (Cost $6,997,148) |
||||||||
Common Stocks - 0.43% |
||||||||
Galp Energia SGPS SAC |
641,761 | 6,779,304 | ||||||
|
|
|||||||
Republic of Korea - 1.96% |
||||||||
Common Stocks - 1.96% |
||||||||
Hana Financial Group, Inc.C |
85,396 | 2,440,997 | ||||||
Osstem Implant Co. Ltd.C |
42,390 | 3,626,126 | ||||||
Samsung Electronics Co. Ltd.C |
317,051 | 15,035,826 | ||||||
SK Hynix, Inc.C |
132,506 | 10,007,103 | ||||||
|
|
|||||||
Total Common Stocks |
31,110,052 | |||||||
|
|
|||||||
Total Republic of Korea (Cost $32,145,106) |
31,110,052 | |||||||
|
|
|||||||
Singapore - 0.66% (Cost $6,328,706) |
||||||||
Common Stocks - 0.66% |
||||||||
DBS Group Holdings Ltd.C |
458,810 | 10,479,529 | ||||||
|
|
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
South Africa - 0.61% (Cost $11,220,503) |
||||||||
Common Stocks - 0.61% |
||||||||
Anglo American PLCC |
267,666 | $ | 9,668,314 | |||||
|
|
|||||||
Spain - 4.35% |
||||||||
Common Stocks - 4.35% |
||||||||
Aena SME SAB C D |
62,316 | 7,880,511 | ||||||
Amadeus IT Group SAB C |
246,445 | 14,379,909 | ||||||
Banco Bilbao Vizcaya Argentaria SAC |
2,964,333 | 13,489,772 | ||||||
CaixaBank SAC |
1,003,841 | 3,016,308 | ||||||
Iberdrola SAC |
479,919 | 5,113,097 | ||||||
Indra Sistemas SAC |
455,059 | 4,162,751 | ||||||
Industria de Diseno Textil SAC |
626,906 | 15,227,247 | ||||||
Telefonica SAC |
1,260,507 | 5,628,652 | ||||||
|
|
|||||||
Total Common Stocks |
68,898,247 | |||||||
|
|
|||||||
Total Spain (Cost $73,106,830) |
68,898,247 | |||||||
|
|
|||||||
Sweden - 1.81% |
||||||||
Common Stocks - 1.81% |
||||||||
Electrolux AB, Class BA C |
793,655 | 11,498,532 | ||||||
Sandvik ABC |
493,727 | 9,090,791 | ||||||
Swedbank AB, Class AC |
583,836 | 8,094,016 | ||||||
|
|
|||||||
Total Common Stocks |
28,683,339 | |||||||
|
|
|||||||
Total Sweden (Cost $33,377,313) |
28,683,339 | |||||||
|
|
|||||||
Switzerland - 3.12% |
||||||||
Common Stocks - 3.12% |
||||||||
ABB Ltd.C |
382,837 | 11,648,899 | ||||||
Cie Financiere Richemont SA, Class AC |
8,792 | 1,063,720 | ||||||
Credit Suisse Group AGB C |
413,000 | 2,410,489 | ||||||
Novartis AGC |
310,537 | 26,689,261 | ||||||
Zurich Insurance Group AGC |
17,671 | 7,713,600 | ||||||
|
|
|||||||
Total Common Stocks |
49,525,969 | |||||||
|
|
|||||||
Total Switzerland (Cost $44,247,002) |
49,525,969 | |||||||
|
|
|||||||
United Kingdom - 19.15% |
||||||||
Common Stocks - 19.15% |
||||||||
3i Group PLCC |
457,771 | 7,098,300 | ||||||
ASOS PLCB C |
633,662 | 8,079,954 | ||||||
AstraZeneca PLCC |
86,614 | 11,385,406 | ||||||
AstraZeneca PLC, ADR |
407,061 | 26,959,650 | ||||||
Balfour Beatty PLCC |
462,304 | 1,582,733 | ||||||
Barclays PLCC |
18,786,084 | 36,137,508 | ||||||
BP PLCC |
2,427,541 | 11,890,606 | ||||||
British American Tobacco PLCC |
174,628 | 6,863,284 | ||||||
Capita PLCB C |
3,019,838 | 1,061,869 | ||||||
Coca-Cola Europacific Partners PLCC |
178,569 | 9,711,201 | ||||||
Compass Group PLCC |
842,511 | 19,774,506 | ||||||
Haleon PLCB |
877,971 | 3,119,905 | ||||||
Imperial Brands PLCC |
209,164 | 4,600,658 | ||||||
Kingfisher PLCC |
2,122,176 | 6,724,476 | ||||||
Reckitt Benckiser Group PLCC |
187,388 | 15,212,273 | ||||||
RELX PLCC |
224,093 | 6,659,818 | ||||||
RELX PLCC |
784,732 | 23,221,426 | ||||||
Rolls-Royce Holdings PLCB C |
18,631,663 | 20,355,622 | ||||||
Smith & Nephew PLCC |
509,475 | 6,523,153 | ||||||
Standard Chartered PLCC |
1,297,899 | 8,955,654 |
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
United Kingdom - 19.15% (continued) |
| |||||||
Common Stocks - 19.15% (continued) |
| |||||||
Taylor Wimpey PLCC |
10,834,100 | $ | 16,818,924 | |||||
Unilever PLCC |
540,393 | 26,322,125 | ||||||
WH Smith PLCB C |
348,786 | 6,161,098 | ||||||
WPP PLCC |
1,705,925 | 18,404,606 | ||||||
|
|
|||||||
Total Common Stocks |
303,624,755 | |||||||
|
|
|||||||
Total United Kingdom (Cost $319,675,918) |
303,624,755 | |||||||
|
|
|||||||
United States - 4.74% |
||||||||
Common Stocks - 4.74% |
||||||||
Aon PLC, Class A |
57,045 | 16,602,377 | ||||||
BRP, Inc.A |
59,258 | 4,507,227 | ||||||
Ferguson PLCC |
56,715 | 7,141,979 | ||||||
GSK PLCC |
1,141,856 | 24,055,584 | ||||||
Roche Holding AGC |
68,880 | 22,873,720 | ||||||
|
|
|||||||
Total Common Stocks |
75,180,887 | |||||||
|
|
|||||||
Total United States (Cost $66,093,975) |
75,180,887 | |||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 3.62% (Cost $57,310,631) |
||||||||
Investment Companies - 3.62% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%E F |
57,310,631 | 57,310,631 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL - 0.03% (Cost $535,588) |
||||||||
Investment Companies - 0.03% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%E F |
535,588 | 535,588 | ||||||
|
|
|||||||
TOTAL INVESTMENTS - 99.85% (Cost $1,667,557,756) |
1,582,718,855 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 0.15% |
2,443,395 | |||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 1,585,162,250 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
B | Non-income producing security. |
C | Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amounted to $1,375,311,015 or 86.76% of net assets. |
D | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $16,660,787 or 1.05% of net assets. The Fund has no right to demand registration of these securities. |
E | The Fund is affiliated by having the same investment advisor. |
F | 7-day yield. |
ADR - American Depositary Receipt.
PLC - Public Limited Company.
See accompanying notes
American Beacon International Equity FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Long Futures Contracts Open on July 31, 2022:
Equity Futures Contracts
Description |
Number of Contracts |
Expiration Date |
Notional Amount |
Contract Value |
Unrealized Appreciation (Depreciation) |
|||||||||||||
ICE U.S. mini MSCI EAFE Index Futures |
591 | September 2022 | $ | 54,692,119 | $ | 57,684,555 | $ | 2,992,436 | ||||||||||
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$ | 54,692,119 | $ | 57,684,555 | $ | 2,992,436 | |||||||||||||
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Index Abbreviations:
ICE |
Intercontinental Exchange. | |||||||||
MSCI EAFE |
Morgan Stanley Capital International - Europe, Australasia, and Far East. |
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
International Equity Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
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Foreign Common Stocks |
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Brazil |
$ | 8,879,666 | $ | | $ | | $ | 8,879,666 | ||||||||
Canada |
58,194,641 | | | 58,194,641 | ||||||||||||
China/Hong Kong |
| 76,315,067 | | 76,315,067 | ||||||||||||
Denmark |
| 15,543,925 | | 15,543,925 | ||||||||||||
Finland |
| 13,017,111 | | 13,017,111 | ||||||||||||
France |
| 213,192,497 | | 213,192,497 | ||||||||||||
Germany |
| 153,592,715 | | 153,592,715 | ||||||||||||
Ireland |
31,298,155 | | | 31,298,155 | ||||||||||||
Israel |
| 10,749,498 | | 10,749,498 | ||||||||||||
Italy |
| 52,908,641 | | 52,908,641 | ||||||||||||
Japan |
| 217,306,103 | | 217,306,103 | ||||||||||||
Netherlands |
| 75,567,863 | | 75,567,863 | ||||||||||||
Norway |
| 14,356,358 | | 14,356,358 | ||||||||||||
Portugal |
| 6,779,304 | | 6,779,304 | ||||||||||||
Republic of Korea |
| 31,110,052 | | 31,110,052 | ||||||||||||
Singapore |
| 10,479,529 | | 10,479,529 | ||||||||||||
South Africa |
| 9,668,314 | | 9,668,314 | ||||||||||||
Spain |
| 68,898,247 | | 68,898,247 | ||||||||||||
Sweden |
| 28,683,339 | | 28,683,339 | ||||||||||||
Switzerland |
| 49,525,969 | | 49,525,969 | ||||||||||||
United Kingdom |
30,079,555 | 273,545,200 | | 303,624,755 | ||||||||||||
Common Stocks |
| |||||||||||||||
United States |
21,109,604 | 54,071,283 | | 75,180,887 | ||||||||||||
Short-Term Investments |
57,310,631 | | | 57,310,631 | ||||||||||||
Securities Lending Collateral |
535,588 | | | 535,588 | ||||||||||||
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Total Investments in Securities - Assets |
$ | 207,407,840 | $ | 1,375,311,015 | $ | | $ | 1,582,718,855 | ||||||||
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Financial Derivative Instruments - Assets |
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Futures Contracts |
$ | 2,992,436 | $ | | $ | | $ | 2,992,436 | ||||||||
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Total Financial Derivative Instruments - Assets |
$ | 2,992,436 | $ | | $ | | $ | 2,992,436 | ||||||||
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U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% |
||||||||
Communication Services - 5.98% |
||||||||
Entertainment - 1.27% |
||||||||
Electronic Arts, Inc. |
178,224 | $ | 23,388,336 | |||||
Warner Bros Discovery, Inc.A |
1,354,900 | 20,323,500 | ||||||
|
|
|||||||
43,711,836 | ||||||||
|
|
|||||||
Interactive Media & Services - 0.85% |
||||||||
Alphabet, Inc., Class AA |
252,000 | 29,312,640 | ||||||
|
|
|||||||
Media - 2.98% |
||||||||
Altice USA, Inc., Class AA |
677,054 | 7,115,838 | ||||||
Charter Communications, Inc., Class AA |
27,993 | 12,095,775 | ||||||
Comcast Corp., Class A |
1,615,919 | 60,629,281 | ||||||
News Corp., Class A |
708,900 | 12,150,546 | ||||||
Omnicom Group, Inc. |
78,078 | 5,452,967 | ||||||
Paramount Global, Class B |
228,000 | 5,392,200 | ||||||
|
|
|||||||
102,836,607 | ||||||||
|
|
|||||||
Wireless Telecommunication Services - 0.88% |
||||||||
T-Mobile U.S., Inc.A |
114,767 | 16,418,567 | ||||||
Vodafone Group PLC, ADR |
956,350 | 14,115,726 | ||||||
|
|
|||||||
30,534,293 | ||||||||
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|||||||
Total Communication Services |
206,395,376 | |||||||
|
|
|||||||
Consumer Discretionary - 6.63% |
||||||||
Auto Components - 1.10% |
||||||||
Adient PLCA |
114,098 | 3,854,230 | ||||||
Aptiv PLCA |
84,900 | 8,905,161 | ||||||
Goodyear Tire & Rubber Co.A |
249,500 | 3,063,860 | ||||||
Magna International, Inc. |
348,100 | 22,229,666 | ||||||
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|||||||
38,052,917 | ||||||||
|
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|||||||
Automobiles - 0.91% |
||||||||
General Motors Co.A |
864,532 | 31,347,930 | ||||||
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|||||||
Hotels, Restaurants & Leisure - 1.98% |
||||||||
Aramark |
579,437 | 19,353,196 | ||||||
Booking Holdings, Inc.A |
4,200 | 8,129,898 | ||||||
Las Vegas Sands Corp.A |
750,436 | 28,283,933 | ||||||
Marriott International, Inc., Class AA |
79,519 | 12,629,207 | ||||||
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68,396,234 | ||||||||
|
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|||||||
Multiline Retail - 1.44% |
||||||||
Dollar General Corp. |
149,388 | 37,112,461 | ||||||
Target Corp. |
76,489 | 12,496,773 | ||||||
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|||||||
49,609,234 | ||||||||
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|||||||
Specialty Retail - 1.20% |
||||||||
Advance Auto Parts, Inc. |
121,389 | 23,503,338 | ||||||
Lowes Cos., Inc. |
93,695 | 17,945,404 | ||||||
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|
|||||||
41,448,742 | ||||||||
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Total Consumer Discretionary |
228,855,057 | |||||||
|
|
|||||||
Consumer Staples - 4.05% |
||||||||
Beverages - 1.75% |
||||||||
Coca-Cola Europacific Partners PLC |
544,950 | 29,492,694 | ||||||
Diageo PLC, ADR |
93,197 | 17,837,906 |
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% (continued) |
| |||||||
Consumer Staples - 4.05 % (continued) |
| |||||||
Beverages - 1.75% (continued) |
| |||||||
PepsiCo, Inc. |
75,508 | $ | 13,210,879 | |||||
|
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60,541,479 | ||||||||
|
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|||||||
Food Products - 0.61% |
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Archer-Daniels-Midland Co. |
46,458 | 3,845,329 | ||||||
Nestle SA, ADR |
139,707 | 17,164,402 | ||||||
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|||||||
21,009,731 | ||||||||
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Household Products - 0.62% |
||||||||
Colgate-Palmolive Co. |
66,929 | 5,269,990 | ||||||
Kimberly-Clark Corp. |
73,190 | 9,645,710 | ||||||
Reckitt Benckiser Group PLC, ADR |
401,308 | 6,581,451 | ||||||
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21,497,151 | ||||||||
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Personal Products - 0.63% |
||||||||
Haleon PLC, ADR |
190,034 | 1,335,939 | ||||||
Unilever PLC, ADRB |
417,500 | 20,315,550 | ||||||
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|||||||
21,651,489 | ||||||||
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|||||||
Tobacco - 0.44% |
||||||||
Philip Morris International, Inc. |
154,640 | 15,023,276 | ||||||
|
|
|||||||
Total Consumer Staples |
139,723,126 | |||||||
|
|
|||||||
Energy - 8.55% |
||||||||
Energy Equipment & Services - 1.45% |
||||||||
Baker Hughes Co. |
175,100 | 4,498,319 | ||||||
Halliburton Co. |
782,608 | 22,930,415 | ||||||
NOV, Inc. |
959,200 | 17,850,712 | ||||||
Schlumberger NV |
126,800 | 4,695,404 | ||||||
|
|
|||||||
49,974,850 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels - 7.10% |
||||||||
APA Corp. |
580,600 | 21,580,902 | ||||||
Cenovus Energy, Inc. |
358,400 | 6,838,272 | ||||||
ConocoPhillips |
193,626 | 18,864,981 | ||||||
EOG Resources, Inc. |
81,463 | 9,060,315 | ||||||
Hess Corp. |
476,243 | 53,563,050 | ||||||
Marathon Oil Corp. |
965,986 | 23,956,453 | ||||||
Murphy Oil Corp. |
268,470 | 9,434,036 | ||||||
Phillips 66 |
418,236 | 37,223,004 | ||||||
Pioneer Natural Resources Co. |
192,162 | 45,532,786 | ||||||
Shell PLC, ADR |
354,122 | 18,903,032 | ||||||
|
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244,956,831 | ||||||||
|
|
|||||||
Total Energy |
294,931,681 | |||||||
|
|
|||||||
Financials - 22.15% |
||||||||
Banks - 8.31% |
||||||||
Citigroup, Inc. |
1,357,200 | 70,438,680 | ||||||
Citizens Financial Group, Inc. |
300,553 | 11,411,997 | ||||||
First Citizens BancShares, Inc., Class A |
19,606 | 14,835,468 | ||||||
JPMorgan Chase & Co. |
328,212 | 37,862,536 | ||||||
M&T Bank Corp. |
185,419 | 32,902,602 | ||||||
PNC Financial Services Group, Inc. |
78,290 | 12,991,443 | ||||||
Truist Financial Corp. |
142,540 | 7,193,994 | ||||||
U.S. Bancorp |
487,760 | 23,022,272 |
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% (continued) |
| |||||||
Financials - 22.15% (continued) |
| |||||||
Banks - 8.31% (continued) |
| |||||||
Wells Fargo & Co. |
1,729,461 | $ | 75,871,454 | |||||
|
|
|||||||
286,530,446 | ||||||||
|
|
|||||||
Capital Markets - 5.70% |
||||||||
Bank of New York Mellon Corp. |
534,500 | 23,229,370 | ||||||
BlackRock, Inc. |
25,025 | 16,746,229 | ||||||
Credit Suisse Group AG, ADRB |
1,348,600 | 7,821,880 | ||||||
Goldman Sachs Group, Inc. |
132,942 | 44,321,533 | ||||||
KKR & Co., Inc. |
127,920 | 7,094,443 | ||||||
Moodys Corp. |
27,476 | 8,524,429 | ||||||
Morgan Stanley |
245,562 | 20,700,877 | ||||||
Nasdaq, Inc. |
113,028 | 20,446,765 | ||||||
Northern Trust Corp. |
265,002 | 26,441,900 | ||||||
State Street Corp. |
298,180 | 21,182,707 | ||||||
|
|
|||||||
196,510,133 | ||||||||
|
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Consumer Finance - 1.05% |
||||||||
American Express Co. |
234,839 | 36,169,903 | ||||||
|
|
|||||||
Diversified Financial Services - 0.15% |
||||||||
Equitable Holdings, Inc. |
187,200 | 5,322,096 | ||||||
|
|
|||||||
Insurance - 6.94% |
||||||||
Allstate Corp. |
173,271 | 20,267,509 | ||||||
American International Group, Inc. |
1,154,264 | 59,756,247 | ||||||
Aon PLC, Class A |
97,684 | 28,429,951 | ||||||
Chubb Ltd. |
124,222 | 23,433,238 | ||||||
Hartford Financial Services Group, Inc. |
265,900 | 17,142,573 | ||||||
Marsh & McLennan Cos., Inc. |
162,760 | 26,686,130 | ||||||
Progressive Corp. |
209,471 | 24,101,733 | ||||||
Travelers Cos., Inc. |
126,074 | 20,007,944 | ||||||
Willis Towers Watson PLC |
95,617 | 19,786,982 | ||||||
|
|
|||||||
239,612,307 | ||||||||
|
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|||||||
Total Financials |
764,144,885 | |||||||
|
|
|||||||
Health Care - 15.15% |
||||||||
Health Care Equipment & Supplies - 2.29% |
||||||||
Abbott Laboratories |
147,505 | 16,054,444 | ||||||
Boston Scientific Corp.A |
263,645 | 10,822,627 | ||||||
Medtronic PLC |
482,028 | 44,597,231 | ||||||
Zimmer Biomet Holdings, Inc. |
66,967 | 7,392,487 | ||||||
|
|
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78,866,789 | ||||||||
|
|
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Health Care Providers & Services - 6.73% |
||||||||
Centene Corp.A |
206,100 | 19,161,117 | ||||||
Cigna Corp. |
111,052 | 30,579,279 | ||||||
CVS Health Corp. |
353,285 | 33,802,309 | ||||||
Elevance Health, Inc. |
141,075 | 67,306,882 | ||||||
HCA Healthcare, Inc. |
55,600 | 11,810,552 | ||||||
Humana, Inc. |
22,700 | 10,941,400 | ||||||
McKesson Corp. |
48,815 | 16,674,228 | ||||||
UnitedHealth Group, Inc. |
76,949 | 41,732,521 | ||||||
|
|
|||||||
232,008,288 | ||||||||
|
|
|||||||
Life Sciences Tools & Services - 1.19% |
||||||||
Danaher Corp. |
55,706 | 16,236,628 |
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% (continued) |
| |||||||
Health Care - 15.15% (continued) |
| |||||||
Life Sciences Tools & Services - 1.19% (continued) |
| |||||||
Thermo Fisher Scientific, Inc. |
41,667 | $ | 24,933,949 | |||||
|
|
|||||||
41,170,577 | ||||||||
|
|
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Pharmaceuticals - 4.94% |
||||||||
GSK PLC, ADR |
152,027 | 6,410,987 | ||||||
Johnson & Johnson |
221,425 | 38,643,091 | ||||||
Merck & Co., Inc. |
599,224 | 53,534,672 | ||||||
Perrigo Co. PLC |
704,856 | 29,512,321 | ||||||
Pfizer, Inc. |
560,981 | 28,335,150 | ||||||
Roche Holding AG, ADR |
106,566 | 4,419,292 | ||||||
Sanofi, ADR |
191,564 | 9,520,731 | ||||||
|
|
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170,376,244 | ||||||||
|
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Total Health Care |
522,421,898 | |||||||
|
|
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Industrials - 14.28% |
||||||||
Aerospace & Defense - 2.21% |
||||||||
Boeing Co.A |
86,800 | 13,828,108 | ||||||
General Dynamics Corp. |
56,366 | 12,776,481 | ||||||
Northrop Grumman Corp. |
64,061 | 30,678,813 | ||||||
Raytheon Technologies Corp. |
204,465 | 19,058,183 | ||||||
|
|
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76,341,585 | ||||||||
|
|
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Air Freight & Logistics - 0.79% |
||||||||
FedEx Corp. |
116,500 | 27,154,985 | ||||||
|
|
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Building Products - 0.95% |
||||||||
Johnson Controls International PLC |
270,189 | 14,565,889 | ||||||
Masco Corp. |
138,190 | 7,652,962 | ||||||
Trane Technologies PLC |
72,355 | 10,635,461 | ||||||
|
|
|||||||
32,854,312 | ||||||||
|
|
|||||||
Construction & Engineering - 0.90% |
||||||||
AECOM |
381,058 | 27,436,176 | ||||||
Fluor Corp.A |
146,200 | 3,714,942 | ||||||
|
|
|||||||
31,151,118 | ||||||||
|
|
|||||||
Electrical Equipment - 1.16% |
||||||||
Eaton Corp. PLC |
120,655 | 17,903,996 | ||||||
Vertiv Holdings Co. |
1,922,070 | 21,950,039 | ||||||
|
|
|||||||
39,854,035 | ||||||||
|
|
|||||||
Industrial Conglomerates - 2.51% |
||||||||
General Electric Co. |
824,262 | 60,921,204 | ||||||
Honeywell International, Inc. |
133,271 | 25,649,337 | ||||||
|
|
|||||||
86,570,541 | ||||||||
|
|
|||||||
Machinery - 3.75% |
||||||||
CNH Industrial NV |
1,109,739 | 14,337,828 | ||||||
Cummins, Inc. |
73,297 | 16,221,359 | ||||||
Deere & Co. |
86,548 | 29,701,543 | ||||||
Illinois Tool Works, Inc. |
86,134 | 17,895,200 | ||||||
Iveco Group NVA C |
266,626 | 1,638,861 | ||||||
Otis Worldwide Corp. |
47,060 | 3,678,680 | ||||||
PACCAR, Inc. |
204,462 | 18,712,362 | ||||||
Stanley Black & Decker, Inc. |
277,541 | 27,013,066 | ||||||
|
|
|||||||
129,198,899 | ||||||||
|
|
|||||||
Professional Services - 0.43% |
||||||||
Equifax, Inc. |
70,900 | 14,811,719 | ||||||
|
|
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% (continued) |
| |||||||
Industrials - 14.28% (continued) |
| |||||||
Road & Rail - 1.58% |
||||||||
Canadian National Railway Co. |
57,810 | $ | 7,323,371 | |||||
JB Hunt Transport Services, Inc. |
137,371 | 25,175,983 | ||||||
Union Pacific Corp. |
97,358 | 22,129,473 | ||||||
|
|
|||||||
54,628,827 | ||||||||
|
|
|||||||
Total Industrials |
492,566,021 | |||||||
|
|
|||||||
Information Technology - 10.95% |
||||||||
Communications Equipment - 1.14% |
||||||||
F5, Inc.A |
163,200 | 27,313,152 | ||||||
Telefonaktiebolaget LM Ericsson, ADRB |
1,586,120 | 11,959,345 | ||||||
|
|
|||||||
39,272,497 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components - 0.82% |
||||||||
Corning, Inc. |
441,140 | 16,216,306 | ||||||
TE Connectivity Ltd. |
90,800 | 12,142,684 | ||||||
|
|
|||||||
28,358,990 | ||||||||
|
|
|||||||
IT Services - 2.57% |
||||||||
Accenture PLC, Class A |
86,115 | 26,373,580 | ||||||
Cognizant Technology Solutions Corp., Class A |
377,519 | 25,656,191 | ||||||
Fidelity National Information Services, Inc. |
297,614 | 30,404,246 | ||||||
Fiserv, Inc.A |
60,600 | 6,404,208 | ||||||
|
|
|||||||
88,838,225 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment - 3.34% |
||||||||
Analog Devices, Inc. |
51,460 | 8,849,062 | ||||||
Broadcom, Inc. |
51,699 | 27,683,780 | ||||||
KLA Corp. |
31,126 | 11,938,066 | ||||||
Micron Technology, Inc. |
184,400 | 11,406,984 | ||||||
NXP Semiconductors NV |
66,037 | 12,142,884 | ||||||
QUALCOMM, Inc. |
94,963 | 13,775,333 | ||||||
Texas Instruments, Inc. |
163,781 | 29,298,783 | ||||||
|
|
|||||||
115,094,892 | ||||||||
|
|
|||||||
Software - 3.08% |
||||||||
Microsoft Corp. |
121,508 | 34,112,156 | ||||||
Oracle Corp. |
595,593 | 46,360,959 | ||||||
Workday, Inc., Class AA |
165,300 | 25,638,030 | ||||||
|
|
|||||||
106,111,145 | ||||||||
|
|
|||||||
Total Information Technology |
377,675,749 | |||||||
|
|
|||||||
Materials - 4.70% |
||||||||
Chemicals - 4.56% |
||||||||
Air Products & Chemicals, Inc. |
130,610 | 32,421,320 | ||||||
Axalta Coating Systems Ltd.A |
623,922 | 15,735,313 | ||||||
DuPont de Nemours, Inc. |
516,346 | 31,615,866 | ||||||
International Flavors & Fragrances, Inc. |
270,282 | 33,528,482 | ||||||
Olin Corp. |
278,200 | 14,541,514 | ||||||
PPG Industries, Inc. |
127,291 | 16,457,453 | ||||||
Sherwin-Williams Co. |
53,400 | 12,919,596 | ||||||
|
|
|||||||
157,219,544 | ||||||||
|
|
|||||||
Containers & Packaging - 0.14% |
||||||||
International Paper Co. |
111,586 | 4,772,533 | ||||||
|
|
|||||||
Total Materials |
161,992,077 | |||||||
|
|
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.82% (continued) |
| |||||||
Real Estate - 1.45% |
||||||||
Equity Real Estate Investment Trusts (REITs) - 1.45% |
||||||||
Public Storage |
14,776 | $ | 4,823,034 | |||||
VICI Properties, Inc. |
1,323,462 | 45,249,166 | ||||||
|
|
|||||||
50,072,200 | ||||||||
|
|
|||||||
Total Real Estate |
50,072,200 | |||||||
|
|
|||||||
Utilities - 3.93% |
||||||||
Electric Utilities - 3.35% |
||||||||
American Electric Power Co., Inc. |
72,812 | 7,176,351 | ||||||
Duke Energy Corp. |
234,297 | 25,756,269 | ||||||
Pinnacle West Capital Corp. |
330,208 | 24,260,382 | ||||||
PPL Corp. |
1,033,854 | 30,064,474 | ||||||
Southern Co. |
292,775 | 22,511,470 | ||||||
Xcel Energy, Inc. |
81,584 | 5,970,317 | ||||||
|
|
|||||||
115,739,263 | ||||||||
|
|
|||||||
Multi-Utilities - 0.58% |
||||||||
Dominion Energy, Inc. |
242,249 | 19,859,573 | ||||||
|
|
|||||||
Total Utilities |
135,598,836 | |||||||
|
|
|||||||
Total Common Stocks (Cost $2,487,195,889) |
3,374,376,906 | |||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 1.99% (Cost $68,571,172) |
||||||||
Investment Companies - 1.99% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%D E |
68,571,172 | 68,571,172 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL - 0.20% (Cost $6,839,724) |
||||||||
Investment Companies - 0.20% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%D E |
6,839,724 | 6,839,724 | ||||||
|
|
|||||||
TOTAL INVESTMENTS - 100.01% (Cost $2,562,606,785) |
3,449,787,802 | |||||||
LIABILITIES, NET OF OTHER ASSETS - (0.01%) |
(370,767 | ) | ||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 3,449,417,035 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | Non-income producing security. |
B | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
C | Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amounted to $1,638,861 or 0.05% of net assets. |
D | The Fund is affiliated by having the same investment advisor. |
E | 7-day yield. |
ADR - American Depositary Receipt.
PLC - Public Limited Company.
See accompanying notes
American Beacon Large Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Long Futures Contracts Open on July 31, 2022:
Equity Futures Contracts
Description |
Number of Contracts |
Expiration Date |
Notional Amount | Contract Value | Unrealized Appreciation (Depreciation) |
|||||||||||
CME e-Mini Standard & Poors 500 Index Futures |
336 | September 2022 | $ | 64,417,763 | $ | 69,442,800 | $ | 5,025,037 | ||||||||
|
|
|
|
|
|
|||||||||||
$ | 64,417,763 | $ | 69,442,800 | $ | 5,025,037 | |||||||||||
|
|
|
|
|
|
Index Abbreviations:
CME |
Chicago Mercantile Exchange. |
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
Large Cap Value Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
| |||||||||||||||
Common Stocks |
$ | 3,372,738,045 | $ | 1,638,861 | $ | | $ | 3,374,376,906 | ||||||||
Short-Term Investments |
68,571,172 | | | 68,571,172 | ||||||||||||
Securities Lending Collateral |
6,839,724 | | | 6,839,724 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | 3,448,148,941 | $ | 1,638,861 | $ | | $ | 3,449,787,802 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Financial Derivative Instruments - Assets |
| |||||||||||||||
Futures Contracts |
$ | 5,025,037 | $ | | $ | | $ | 5,025,037 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Financial Derivative Instruments - Assets |
$ | 5,025,037 | $ | | $ | | $ | 5,025,037 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 94.95% |
||||||||
Communication Services - 1.12% |
||||||||
Entertainment - 0.59% |
||||||||
Cinemark Holdings, Inc.A |
40,449 | $ | 741,430 | |||||
|
|
|||||||
Media - 0.53% |
||||||||
Liberty Broadband Corp., Class CA |
6,128 | 667,523 | ||||||
|
|
|||||||
Total Communication Services |
1,408,953 | |||||||
|
|
|||||||
Consumer Discretionary - 13.75% |
||||||||
Auto Components - 2.07% |
||||||||
Dana, Inc. |
33,765 | 565,902 | ||||||
Lear Corp. |
13,524 | 2,044,017 | ||||||
|
|
|||||||
2,609,919 | ||||||||
|
|
|||||||
Diversified Consumer Services - 0.65% |
||||||||
Adtalem Global Education, Inc.A |
20,300 | 814,030 | ||||||
|
|
|||||||
Hotels, Restaurants & Leisure - 4.07% |
||||||||
Aramark |
28,835 | 963,089 | ||||||
Marriott Vacations Worldwide Corp. |
9,439 | 1,292,388 | ||||||
MGM Resorts International |
13,444 | 440,022 | ||||||
SeaWorld Entertainment, Inc.A |
17,583 | 839,237 | ||||||
Travel & Leisure Co. |
25,312 | 1,091,200 | ||||||
Wyndham Hotels & Resorts, Inc. |
7,244 | 502,806 | ||||||
|
|
|||||||
5,128,742 | ||||||||
|
|
|||||||
Household Durables - 1.84% |
||||||||
Mohawk Industries, Inc.A |
6,168 | 792,465 | ||||||
Newell Brands, Inc. |
75,658 | 1,529,048 | ||||||
|
|
|||||||
2,321,513 | ||||||||
|
|
|||||||
Specialty Retail - 2.77% |
||||||||
Advance Auto Parts, Inc. |
4,931 | 954,740 | ||||||
CarMax, Inc.A |
12,129 | 1,207,321 | ||||||
Gap, Inc. |
72,160 | 694,179 | ||||||
Lithia Motors, Inc. |
2,394 | 635,080 | ||||||
|
|
|||||||
3,491,320 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods - 2.35% |
||||||||
Gildan Activewear, Inc. |
43,843 | 1,285,477 | ||||||
PVH Corp. |
10,780 | 667,498 | ||||||
Skechers USA, Inc., Class AA |
26,743 | 1,015,164 | ||||||
|
|
|||||||
2,968,139 | ||||||||
|
|
|||||||
Total Consumer Discretionary |
17,333,663 | |||||||
|
|
|||||||
Consumer Staples - 1.79% |
||||||||
Beverages - 0.85% |
||||||||
Coca-Cola Europacific Partners PLC |
19,801 | 1,071,630 | ||||||
|
|
|||||||
Food & Staples Retailing - 0.94% |
||||||||
U.S. Foods Holding Corp.A |
37,574 | 1,183,581 | ||||||
|
|
|||||||
Total Consumer Staples |
2,255,211 | |||||||
|
|
|||||||
Energy - 5.67% |
||||||||
Energy Equipment & Services - 1.71% |
||||||||
Baker Hughes Co. |
6,728 | 172,842 | ||||||
Halliburton Co. |
27,697 | 811,522 | ||||||
NOV, Inc. |
40,485 | 753,426 |
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 94.95% (continued) |
| |||||||
Energy - 5.67% (continued) |
| |||||||
Energy Equipment & Services - 1.71% (continued) |
| |||||||
TechnipFMC PLCA |
51,601 | $ | 417,452 | |||||
|
|
|||||||
2,155,242 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels - 3.96% |
||||||||
APA Corp. |
29,316 | 1,089,676 | ||||||
Cheniere Energy, Inc. |
3,533 | 528,466 | ||||||
EQT Corp. |
11,079 | 487,809 | ||||||
Hess Corp. |
13,640 | 1,534,091 | ||||||
Pioneer Natural Resources Co. |
5,733 | 1,358,434 | ||||||
|
|
|||||||
4,998,476 | ||||||||
|
|
|||||||
Total Energy |
7,153,718 | |||||||
|
|
|||||||
Financials - 22.31% |
||||||||
Banks - 6.43% |
||||||||
Fifth Third Bancorp |
33,025 | 1,126,813 | ||||||
KeyCorp |
66,825 | 1,222,897 | ||||||
M&T Bank Corp. |
9,515 | 1,688,437 | ||||||
Pinnacle Financial Partners, Inc. |
5,408 | 427,773 | ||||||
Regions Financial Corp. |
59,223 | 1,254,343 | ||||||
Signature Bank |
6,063 | 1,125,111 | ||||||
Texas Capital Bancshares, Inc.A |
21,636 | 1,268,302 | ||||||
|
|
|||||||
8,113,676 | ||||||||
|
|
|||||||
Capital Markets - 2.64% |
||||||||
Evercore, Inc., Class A |
4,009 | 400,780 | ||||||
Invesco Ltd. |
43,006 | 762,926 | ||||||
Jefferies Financial Group, Inc. |
32,209 | 1,049,047 | ||||||
Northern Trust Corp. |
11,161 | 1,113,645 | ||||||
|
|
|||||||
3,326,398 | ||||||||
|
|
|||||||
Consumer Finance - 2.45% |
||||||||
Ally Financial, Inc. |
42,757 | 1,413,974 | ||||||
OneMain Holdings, Inc. |
23,131 | 860,473 | ||||||
PROG Holdings, Inc.A |
17,592 | 324,045 | ||||||
SLM Corp. |
31,714 | 494,738 | ||||||
|
|
|||||||
3,093,230 | ||||||||
|
|
|||||||
Diversified Financial Services - 2.12% |
||||||||
Equitable Holdings, Inc. |
51,267 | 1,457,521 | ||||||
Voya Financial, Inc. |
20,112 | 1,209,938 | ||||||
|
|
|||||||
2,667,459 | ||||||||
|
|
|||||||
Insurance - 8.67% |
||||||||
American International Group, Inc. |
22,360 | 1,157,577 | ||||||
Arch Capital Group Ltd.A |
25,572 | 1,135,397 | ||||||
Assurant, Inc. |
4,495 | 790,131 | ||||||
Axis Capital Holdings Ltd. |
65,595 | 3,311,892 | ||||||
CNO Financial Group, Inc. |
58,644 | 1,099,575 | ||||||
Fidelity National Financial, Inc. |
18,250 | 729,270 | ||||||
Markel Corp.A |
482 | 625,221 | ||||||
Reinsurance Group of America, Inc. |
8,586 | 994,087 | ||||||
Willis Towers Watson PLC |
5,250 | 1,086,435 | ||||||
|
|
|||||||
10,929,585 | ||||||||
|
|
|||||||
Total Financials |
28,130,348 | |||||||
|
|
|||||||
Health Care - 8.60% |
||||||||
Health Care Equipment & Supplies - 2.58% |
||||||||
Envista Holdings Corp.A |
17,712 | 719,993 |
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 94.95% (continued) |
| |||||||
Health Care - 8.60% (continued) |
| |||||||
Health Care Equipment & Supplies - 2.58% (continued) |
| |||||||
Hologic, Inc.A |
10,728 | $ | 765,764 | |||||
LivaNova PLCA |
10,822 | 689,037 | ||||||
Zimmer Biomet Holdings, Inc. |
9,759 | 1,077,296 | ||||||
|
|
|||||||
3,252,090 | ||||||||
|
|
|||||||
Health Care Providers & Services - 4.44% |
||||||||
Cardinal Health, Inc. |
11,694 | 696,495 | ||||||
Encompass Health Corp. |
16,704 | 845,557 | ||||||
Enhabit, Inc. |
8,352 | 146,244 | ||||||
Fresenius Medical Care AG & Co. KGaA, ADR |
43,297 | 801,860 | ||||||
Henry Schein, Inc.A |
10,309 | 812,658 | ||||||
McKesson Corp. |
3,143 | 1,073,586 | ||||||
Universal Health Services, Inc., Class B |
10,834 | 1,218,500 | ||||||
|
|
|||||||
5,594,900 | ||||||||
|
|
|||||||
Life Sciences Tools & Services - 0.65% |
||||||||
Avantor, Inc.A |
28,262 | 820,163 | ||||||
|
|
|||||||
Pharmaceuticals - 0.93% |
||||||||
Perrigo Co. PLC |
28,071 | 1,175,333 | ||||||
|
|
|||||||
Total Health Care |
10,842,486 | |||||||
|
|
|||||||
Industrials - 16.33% |
||||||||
Aerospace & Defense - 2.01% |
||||||||
BWX Technologies, Inc. |
17,166 | 972,969 | ||||||
L3Harris Technologies, Inc. |
4,070 | 976,678 | ||||||
TransDigm Group, Inc.A |
936 | 582,510 | ||||||
|
|
|||||||
2,532,157 | ||||||||
|
|
|||||||
Airlines - 0.33% |
||||||||
Alaska Air Group, Inc.A |
9,320 | 413,156 | ||||||
|
|
|||||||
Building Products - 2.04% |
||||||||
Carlisle Cos., Inc. |
4,135 | 1,224,374 | ||||||
JELD-WEN Holding, Inc.A |
75,544 | 1,343,172 | ||||||
|
|
|||||||
2,567,546 | ||||||||
|
|
|||||||
Commercial Services & Supplies - 0.80% |
||||||||
Republic Services, Inc. |
7,331 | 1,016,517 | ||||||
|
|
|||||||
Construction & Engineering - 2.41% |
||||||||
AECOM |
16,997 | 1,223,784 | ||||||
MasTec, Inc.A |
10,014 | 790,405 | ||||||
MDU Resources Group, Inc. |
35,723 | 1,020,606 | ||||||
|
|
|||||||
3,034,795 | ||||||||
|
|
|||||||
Electrical Equipment - 0.81% |
||||||||
Vertiv Holdings Co. |
90,046 | 1,028,325 | ||||||
|
|
|||||||
Machinery - 4.25% |
||||||||
Dover Corp. |
8,213 | 1,097,914 | ||||||
Fortive Corp. |
17,656 | 1,137,929 | ||||||
Stanley Black & Decker, Inc. |
7,650 | 744,575 | ||||||
Terex Corp. |
39,587 | 1,326,560 | ||||||
Westinghouse Air Brake Technologies Corp. |
11,203 | 1,047,144 | ||||||
|
|
|||||||
5,354,122 | ||||||||
|
|
|||||||
Professional Services - 1.26% |
||||||||
Alight, Inc., Class AA |
99,139 | 747,508 |
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 94.95% (continued) |
||||||||
Industrials - 16.33% (continued) |
| |||||||
Professional Services - 1.26% (continued) |
| |||||||
CACI International, Inc., Class AA |
2,784 | $ | 841,575 | |||||
|
|
|||||||
1,589,083 | ||||||||
|
|
|||||||
Road & Rail - 1.21% |
||||||||
JB Hunt Transport Services, Inc. |
6,784 | 1,243,304 | ||||||
Ryder System, Inc. |
3,551 | 278,114 | ||||||
|
|
|||||||
1,521,418 | ||||||||
|
|
|||||||
Trading Companies & Distributors - 1.21% |
||||||||
AerCap Holdings NVA |
34,025 | 1,526,362 | ||||||
|
|
|||||||
Total Industrials |
20,583,481 | |||||||
|
|
|||||||
Information Technology - 6.45% |
||||||||
Electronic Equipment, Instruments & Components - 2.20% |
||||||||
Avnet, Inc. |
26,675 | 1,276,932 | ||||||
Mirion Technologies, Inc.A B |
105,973 | 720,616 | ||||||
Zebra Technologies Corp., Class AA |
2,172 | 776,903 | ||||||
|
|
|||||||
2,774,451 | ||||||||
|
|
|||||||
IT Services - 2.99% |
||||||||
Cognizant Technology Solutions Corp., Class A |
16,772 | 1,139,825 | ||||||
Global Payments, Inc. |
8,728 | 1,067,609 | ||||||
GoDaddy, Inc., Class AA |
7,173 | 532,093 | ||||||
SS&C Technologies Holdings, Inc. |
17,397 | 1,029,381 | ||||||
|
|
|||||||
3,768,908 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment - 0.92% |
||||||||
Microchip Technology, Inc. |
16,933 | 1,166,006 | ||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals - 0.34% |
||||||||
Hewlett Packard Enterprise Co. |
30,115 | 428,838 | ||||||
|
|
|||||||
Total Information Technology |
8,138,203 | |||||||
|
|
|||||||
Materials - 7.72% |
||||||||
Chemicals - 6.92% |
||||||||
Axalta Coating Systems Ltd.A |
90,318 | 2,277,820 | ||||||
Corteva, Inc. |
9,065 | 521,691 | ||||||
Dow, Inc. |
21,141 | 1,124,913 | ||||||
Eastman Chemical Co. |
6,750 | 647,527 | ||||||
Element Solutions, Inc. |
94,915 | 1,875,520 | ||||||
International Flavors & Fragrances, Inc. |
10,003 | 1,240,872 | ||||||
Olin Corp. |
19,896 | 1,039,964 | ||||||
|
|
|||||||
8,728,307 | ||||||||
|
|
|||||||
Containers & Packaging - 0.80% |
||||||||
Sealed Air Corp. |
16,525 | 1,010,008 | ||||||
|
|
|||||||
Total Materials |
9,738,315 | |||||||
|
|
|||||||
Real Estate - 5.23% |
||||||||
Equity Real Estate Investment Trusts (REITs) - 4.85% |
||||||||
American Campus Communities, Inc. |
12,635 | 825,318 | ||||||
AvalonBay Communities, Inc. |
2,954 | 631,979 | ||||||
Lamar Advertising Co., Class A |
7,290 | 736,727 | ||||||
Medical Properties Trust, Inc. |
27,377 | 471,980 | ||||||
STAG Industrial, Inc. |
25,677 | 841,692 |
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 94.95% (continued) |
| |||||||
Real Estate - 5.23% (continued) |
| |||||||
Equity Real Estate Investment Trusts (REITs) - 4.85% (continued) |
| |||||||
VICI Properties, Inc. |
76,187 | $ | 2,604,834 | |||||
|
|
|||||||
6,112,530 | ||||||||
|
|
|||||||
Real Estate Management & Development - 0.38% |
||||||||
Howard Hughes Corp.A |
6,743 | 478,011 | ||||||
|
|
|||||||
Total Real Estate |
6,590,541 | |||||||
|
|
|||||||
Utilities - 5.98% |
||||||||
Electric Utilities - 4.20% |
||||||||
Edison International |
21,788 | 1,476,573 | ||||||
Entergy Corp. |
12,701 | 1,462,266 | ||||||
NRG Energy, Inc. |
28,794 | 1,086,973 | ||||||
Pinnacle West Capital Corp. |
17,363 | 1,275,660 | ||||||
|
|
|||||||
5,301,472 | ||||||||
|
|
|||||||
Gas Utilities - 0.69% |
||||||||
UGI Corp. |
20,123 | 868,508 | ||||||
|
|
|||||||
Multi-Utilities - 1.09% |
||||||||
CenterPoint Energy, Inc. |
43,191 | 1,368,723 | ||||||
|
|
|||||||
Total Utilities |
7,538,703 | |||||||
|
|
|||||||
Total Common Stocks (Cost $98,685,246) |
119,713,622 | |||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 5.00% (Cost $6,304,490) |
||||||||
Investment Companies - 5.00% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%C D |
6,304,490 | 6,304,490 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL - 0.54% (Cost $679,549) |
||||||||
Investment Companies - 0.54% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%C D |
679,549 | 679,549 | ||||||
|
|
|||||||
TOTAL INVESTMENTS - 100.49% (Cost $105,669,285) |
126,697,661 | |||||||
LIABILITIES, NET OF OTHER ASSETS - (0.49%) |
(614,798 | ) | ||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 126,082,863 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | Non-income producing security. |
B | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
C | The Fund is affiliated by having the same investment advisor. |
D | 7-day yield. |
ADR - American Depositary Receipt.
PLC - Public Limited Company.
See accompanying notes
American Beacon Mid-Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Long Futures Contracts Open on July 31, 2022:
Equity Futures Contracts
Description |
Number of Contracts |
Expiration Date |
Notional Amount | Contract Value | Unrealized Appreciation (Depreciation) |
|||||||||||
CME e-Mini Standard & Poors MidCap 400 Index Futures |
25 | September 2022 | $ | 5,684,895 | $ | 6,286,000 | $ | 601,105 | ||||||||
|
|
|
|
|
|
|||||||||||
$ | 5,684,895 | $ | 6,286,000 | $ | 601,105 | |||||||||||
|
|
|
|
|
|
Index Abbreviations:
CME |
Chicago Mercantile Exchange. |
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
Mid-Cap Value Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 119,713,622 | $ | | $ | | $ | 119,713,622 | ||||||||
Short-Term Investments |
6,304,490 | | | 6,304,490 | ||||||||||||
Securities Lending Collateral |
679,549 | | | 679,549 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | 126,697,661 | $ | | $ | | $ | 126,697,661 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Financial Derivative Instruments - Assets |
||||||||||||||||
Futures Contracts |
$ | 601,105 | $ | | $ | | $ | 601,105 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Financial Derivative Instruments - Assets |
$ | 601,105 | $ | | $ | | $ | 601,105 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% |
||||||||
Communication Services - 2.22% |
||||||||
Diversified Telecommunication Services - 0.06% |
||||||||
ATN International, Inc. |
29,551 | $ | 1,360,528 | |||||
EchoStar Corp., Class AA |
71,121 | 1,405,351 | ||||||
|
|
|||||||
2,765,879 | ||||||||
|
|
|||||||
Entertainment - 0.37% |
||||||||
IMAX Corp.A |
478,476 | 8,043,181 | ||||||
Lions Gate Entertainment Corp., Class AA |
471,342 | 4,128,956 | ||||||
Lions Gate Entertainment Corp., Class BA |
567,289 | 4,714,172 | ||||||
Sciplay Corp., Class AA |
46,426 | 633,251 | ||||||
|
|
|||||||
17,519,560 | ||||||||
|
|
|||||||
Interactive Media & Services - 0.11% |
||||||||
Ziff Davis, Inc.A |
60,502 | 4,954,509 | ||||||
|
|
|||||||
Media - 1.61% |
||||||||
AMC Networks, Inc., Class AA |
19,418 | 592,637 | ||||||
John Wiley & Sons, Inc., Class A |
91,201 | 4,762,516 | ||||||
Magnite, Inc.A |
507,636 | 3,878,339 | ||||||
Scholastic Corp. |
310,813 | 14,629,968 | ||||||
Stagwell, Inc.A |
5,850,087 | 38,669,075 | ||||||
TEGNA, Inc. |
597,025 | 12,501,704 | ||||||
Thryv Holdings, Inc.A |
21,200 | 516,008 | ||||||
|
|
|||||||
75,550,247 | ||||||||
|
|
|||||||
Wireless Telecommunication Services - 0.07% |
||||||||
Telephone & Data Systems, Inc. |
202,444 | 3,200,639 | ||||||
|
|
|||||||
Total Communication Services |
103,990,834 | |||||||
|
|
|||||||
Consumer Discretionary - 12.79% |
||||||||
Auto Components - 3.89% |
||||||||
Adient PLCA |
1,774,539 | 59,943,927 | ||||||
American Axle & Manufacturing Holdings, Inc.A |
3,171,472 | 28,257,816 | ||||||
Dana, Inc. |
1,269,974 | 21,284,764 | ||||||
Gentherm, Inc.A |
515,965 | 33,310,700 | ||||||
Goodyear Tire & Rubber Co.A |
633,514 | 7,779,552 | ||||||
LCI Industries |
17,091 | 2,308,823 | ||||||
Lear Corp. |
161,777 | 24,450,976 | ||||||
Patrick Industries, Inc. |
44,076 | 2,676,295 | ||||||
Standard Motor Products, Inc. |
41,466 | 1,896,655 | ||||||
|
|
|||||||
181,909,508 | ||||||||
|
|
|||||||
Automobiles - 0.45% |
||||||||
Harley-Davidson, Inc. |
62,318 | 2,356,244 | ||||||
Thor Industries, Inc.B |
178,538 | 15,056,109 | ||||||
Winnebago Industries, Inc. |
61,955 | 3,740,223 | ||||||
|
|
|||||||
21,152,576 | ||||||||
|
|
|||||||
Distributors - 0.22% |
||||||||
Funko, Inc., Class AA |
395,867 | 10,375,674 | ||||||
|
|
|||||||
Diversified Consumer Services - 0.84% |
||||||||
ADT, Inc. |
1,600,076 | 11,680,555 | ||||||
Adtalem Global Education, Inc.A |
403,600 | 16,184,360 | ||||||
Graham Holdings Co., Class B |
10,831 | 6,438,921 | ||||||
Perdoceo Education Corp.A |
129,703 | 1,776,931 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
||||||||
Consumer Discretionary - 12.79% (continued) |
||||||||
Diversified Consumer Services - 0.84% (continued) |
||||||||
Strategic Education, Inc. |
47,255 | $ | 3,394,327 | |||||
|
|
|||||||
39,475,094 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure - 0.80% |
||||||||
Bloomin Brands, Inc. |
169,076 | 3,447,460 | ||||||
Bluegreen Vacations Holding Corp. |
10,248 | 269,318 | ||||||
Cracker Barrel Old Country Store, Inc.B |
137,060 | 13,030,294 | ||||||
Genius Sports Ltd.A B |
170,844 | 442,486 | ||||||
International Game Technology PLCB |
979,674 | 18,564,822 | ||||||
Red Rock Resorts, Inc., Class A |
41,225 | 1,621,379 | ||||||
|
|
|||||||
37,375,759 | ||||||||
|
|
|||||||
Household Durables - 2.27% |
||||||||
Cavco Industries, Inc.A |
29,390 | 7,576,448 | ||||||
Century Communities, Inc. |
87,963 | 4,501,067 | ||||||
Dream Finders Homes, Inc., Class AA B |
20,000 | 260,000 | ||||||
Ethan Allen Interiors, Inc. |
47,611 | 1,094,577 | ||||||
GoPro, Inc., Class AA |
777,312 | 4,943,704 | ||||||
Green Brick Partners, Inc.A |
124,014 | 3,323,575 | ||||||
Helen of Troy Ltd.A |
21,559 | 2,884,379 | ||||||
KB Home |
236,304 | 7,712,963 | ||||||
La-Z-Boy, Inc. |
81,627 | 2,274,944 | ||||||
LGI Homes, Inc.A |
67,610 | 7,626,408 | ||||||
M/I Homes, Inc.A |
88,236 | 4,059,738 | ||||||
MDC Holdings, Inc. |
190,291 | 6,898,049 | ||||||
Meritage Homes Corp.A |
202,764 | 17,904,061 | ||||||
Sonos, Inc.A B |
118,214 | 2,613,712 | ||||||
Taylor Morrison Home Corp.A |
227,112 | 6,518,114 | ||||||
Tri Pointe Homes, Inc.A |
402,607 | 7,456,282 | ||||||
Whirlpool Corp. |
106,685 | 18,442,636 | ||||||
|
|
|||||||
106,090,657 | ||||||||
|
|
|||||||
Leisure Products - 0.54% |
||||||||
Brunswick Corp. |
205,372 | 16,454,405 | ||||||
Malibu Boats, Inc., Class AA |
22,533 | 1,407,186 | ||||||
Smith & Wesson Brands, Inc. |
23,297 | 338,971 | ||||||
Sturm Ruger & Co., Inc.B |
33,251 | 2,198,888 | ||||||
Vista Outdoor, Inc.A |
158,538 | 4,771,994 | ||||||
|
|
|||||||
25,171,444 | ||||||||
|
|
|||||||
Multiline Retail - 0.30% |
||||||||
Dillards, Inc., Class AB |
8,400 | 1,909,740 | ||||||
Ollies Bargain Outlet Holdings, Inc.A |
208,808 | 12,309,232 | ||||||
|
|
|||||||
14,218,972 | ||||||||
|
|
|||||||
Specialty Retail - 2.62% |
||||||||
Aarons Co., Inc. |
20,658 | 268,967 | ||||||
Academy Sports & Outdoors, Inc. |
164,298 | 7,069,743 | ||||||
Americas Car-Mart, Inc.A |
3,944 | 408,480 | ||||||
Asbury Automotive Group, Inc.A |
52,228 | 8,964,414 | ||||||
Bed Bath & Beyond, Inc.A B |
61,516 | 309,425 | ||||||
Buckle, Inc. |
94,519 | 2,854,474 | ||||||
Caleres, Inc. |
71,034 | 1,763,064 | ||||||
Camping World Holdings, Inc., Class AB |
124,115 | 3,356,070 | ||||||
Chicos FAS, Inc.A |
77,383 | 388,463 | ||||||
Designer Brands, Inc., Class A |
425,203 | 6,135,679 | ||||||
Foot Locker, Inc. |
103,960 | 2,949,345 | ||||||
Genesco, Inc.A |
25,721 | 1,441,662 | ||||||
Group 1 Automotive, Inc. |
49,159 | 8,697,210 | ||||||
Guess?, Inc. |
112,714 | 2,131,422 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Consumer Discretionary - 12.79% (continued) |
| |||||||
Specialty Retail - 2.62% (continued) |
| |||||||
Hibbett, Inc. |
24,972 | $ | 1,171,686 | |||||
MarineMax, Inc.A |
41,288 | 1,686,202 | ||||||
Monro, Inc. |
422,802 | 21,203,520 | ||||||
National Vision Holdings, Inc.A |
140,776 | 4,102,213 | ||||||
ODP Corp.A |
424,892 | 15,423,580 | ||||||
OneWater Marine, Inc., Class AA |
9,540 | 345,730 | ||||||
Sally Beauty Holdings, Inc.A |
184,228 | 2,354,434 | ||||||
Shoe Carnival, Inc. |
53,224 | 1,160,815 | ||||||
Signet Jewelers Ltd. |
94,086 | 5,735,483 | ||||||
Sonic Automotive, Inc., Class A |
417,690 | 17,480,326 | ||||||
TravelCenters of America, Inc.A |
28,075 | 1,171,289 | ||||||
Urban Outfitters, Inc.A |
86,352 | 1,768,489 | ||||||
Warby Parker, Inc., Class AA |
105,744 | 1,310,168 | ||||||
Zumiez, Inc.A |
37,619 | 978,094 | ||||||
|
|
|||||||
122,630,447 | ||||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods - 0.86% |
||||||||
Allbirds, Inc., Class AA |
249,789 | 1,283,915 | ||||||
Capri Holdings Ltd.A |
237,303 | 11,551,910 | ||||||
G-III Apparel Group Ltd.A |
130,938 | 2,892,420 | ||||||
Hanesbrands, Inc. |
657,682 | 7,352,885 | ||||||
Kontoor Brands, Inc. |
28,785 | 1,050,653 | ||||||
Levi Strauss & Co., Class AB |
755,235 | 14,289,046 | ||||||
Movado Group, Inc. |
10,894 | 370,178 | ||||||
Oxford Industries, Inc. |
5,278 | 503,521 | ||||||
Skechers USA, Inc., Class AA |
24,455 | 928,312 | ||||||
|
|
|||||||
40,222,840 | ||||||||
|
|
|||||||
Total Consumer Discretionary |
598,622,971 | |||||||
|
|
|||||||
Consumer Staples - 3.50% |
||||||||
Beverages - 0.15% |
||||||||
Boston Beer Co., Inc., Class AA |
18,911 | 7,194,312 | ||||||
|
|
|||||||
Food & Staples Retailing - 0.44% |
||||||||
Andersons, Inc. |
101,790 | 3,681,744 | ||||||
Chefs Warehouse, Inc.A |
145,929 | 5,050,603 | ||||||
Ingles Markets, Inc., Class A |
43,777 | 4,178,952 | ||||||
SpartanNash Co. |
17,350 | 560,232 | ||||||
United Natural Foods, Inc.A |
169,520 | 7,206,295 | ||||||
|
|
|||||||
20,677,826 | ||||||||
|
|
|||||||
Food Products - 2.21% |
||||||||
Darling Ingredients, Inc.A |
523,729 | 36,283,945 | ||||||
Fresh Del Monte Produce, Inc. |
299,742 | 8,905,335 | ||||||
Ingredion, Inc. |
163,101 | 14,838,929 | ||||||
J&J Snack Foods Corp. |
196,745 | 26,660,915 | ||||||
SunOpta, Inc.A |
1,905,522 | 16,806,704 | ||||||
|
|
|||||||
103,495,828 | ||||||||
|
|
|||||||
Personal Products - 0.55% |
||||||||
Edgewell Personal Care Co. |
500,168 | 19,896,683 | ||||||
Herbalife Nutrition Ltd.A |
235,100 | 5,738,791 | ||||||
|
|
|||||||
25,635,474 | ||||||||
|
|
|||||||
Tobacco - 0.15% |
||||||||
Universal Corp. |
66,462 | 3,715,890 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Consumer Staples - 3.50% (continued) |
| |||||||
Tobacco - 0.15% (continued) |
| |||||||
Vector Group Ltd. |
290,357 | $ | 3,234,577 | |||||
|
|
|||||||
6,950,467 | ||||||||
|
|
|||||||
Total Consumer Staples |
163,953,907 | |||||||
|
|
|||||||
Energy - 6.49% |
||||||||
Energy Equipment & Services - 2.30% |
||||||||
Bristow Group, Inc.A |
53,379 | 1,377,178 | ||||||
Cactus, Inc., Class A |
152,669 | 6,349,504 | ||||||
ChampionX Corp. |
1,312,347 | 27,414,929 | ||||||
Dril-Quip, Inc.A |
23,195 | 594,952 | ||||||
Expro Group Holdings NVA |
1,410,540 | 17,180,377 | ||||||
Helix Energy Solutions Group, Inc.A |
1,617,462 | 6,534,546 | ||||||
Liberty Energy, Inc., Class AA |
415,634 | 5,902,003 | ||||||
NOV, Inc. |
1,141,123 | 21,236,299 | ||||||
ProPetro Holding Corp.A |
64,400 | 677,488 | ||||||
Select Energy Services, Inc., Class AA |
60,618 | 452,816 | ||||||
TechnipFMC PLCA |
1,799,000 | 14,553,910 | ||||||
Transocean Ltd.A |
1,511,933 | 5,110,334 | ||||||
|
|
|||||||
107,384,336 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels - 4.19% |
||||||||
Berry Corp. |
1,637,343 | 13,982,909 | ||||||
Callon Petroleum Co.A |
115,926 | 5,337,233 | ||||||
Centennial Resource Development, Inc., Class AA |
307,094 | 2,045,246 | ||||||
Chesapeake Energy Corp.B |
110,047 | 10,363,126 | ||||||
CNX Resources Corp.A |
1,049,069 | 18,117,422 | ||||||
Comstock Resources, Inc.A |
313,164 | 4,988,702 | ||||||
Equitrans Midstream Corp. |
2,001,962 | 15,715,402 | ||||||
Kinetik Holdings, Inc.B |
60,244 | 2,450,726 | ||||||
Kosmos Energy Ltd.A |
5,608,735 | 35,559,380 | ||||||
Murphy Oil Corp. |
668,640 | 23,496,010 | ||||||
PBF Energy, Inc., Class AA |
200,953 | 6,701,782 | ||||||
Peabody Energy Corp.A B |
88,852 | 1,865,003 | ||||||
Range Resources Corp.A |
1,207,896 | 39,945,121 | ||||||
Ranger Oil Corp., Class A |
128,304 | 4,883,250 | ||||||
SilverBow Resources, Inc.A B |
31,683 | 1,431,755 | ||||||
Viper Energy Partners LP |
301,365 | 9,263,960 | ||||||
|
|
|||||||
196,147,027 | ||||||||
|
|
|||||||
Total Energy |
303,531,363 | |||||||
|
|
|||||||
Financials - 22.67% |
||||||||
Banks - 14.31% |
||||||||
Amalgamated Financial Corp. |
20,753 | 478,979 | ||||||
Amerant Bancorp, Inc. |
8,228 | 224,789 | ||||||
Ameris Bancorp |
69,821 | 3,301,835 | ||||||
Associated Banc-Corp. |
492,486 | 9,898,969 | ||||||
Atlantic Union Bankshares Corp. |
78,023 | 2,698,816 | ||||||
Banc of California, Inc. |
41,636 | 729,046 | ||||||
Bank of NT Butterfield & Son Ltd. |
906,687 | 30,727,622 | ||||||
Bank OZK |
196,689 | 7,887,229 | ||||||
BankUnited, Inc. |
92,887 | 3,608,660 | ||||||
Banner Corp. |
151,857 | 9,413,615 | ||||||
Berkshire Hills Bancorp, Inc. |
47,835 | 1,347,512 | ||||||
Brookline Bancorp, Inc. |
69,720 | 964,228 | ||||||
Byline Bancorp, Inc. |
25,346 | 620,723 | ||||||
Cadence Bank |
917,343 | 23,942,652 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Financials - 22.67% (continued) |
| |||||||
Banks - 14.31% (continued) |
||||||||
Capstar Financial Holdings, Inc. |
55,667 | $ | 1,169,564 | |||||
Cathay General Bancorp |
103,880 | 4,331,796 | ||||||
Central Pacific Financial Corp. |
308,843 | 7,313,402 | ||||||
Columbia Banking System, Inc. |
973,691 | 29,376,257 | ||||||
ConnectOne Bancorp, Inc. |
26,519 | 701,162 | ||||||
CrossFirst Bankshares, Inc.A |
33,298 | 456,849 | ||||||
Customers Bancorp, Inc.A |
22,155 | 846,099 | ||||||
CVB Financial Corp. |
304,384 | 8,117,921 | ||||||
Dime Community Bancshares, Inc. |
26,388 | 899,303 | ||||||
Eastern Bankshares, Inc. |
122,610 | 2,501,244 | ||||||
Enterprise Financial Services Corp. |
38,619 | 1,816,252 | ||||||
Equity Bancshares, Inc., Class A |
6,261 | 200,039 | ||||||
Farmers National Banc Corp. |
20,658 | 293,344 | ||||||
FB Financial Corp. |
47,350 | 2,028,947 | ||||||
First BanCorp |
306,425 | 8,682,260 | ||||||
First Bancshares, Inc. |
13,724 | 397,996 | ||||||
First Busey Corp. |
48,401 | 1,193,085 | ||||||
First Commonwealth Financial Corp. |
85,789 | 1,271,393 | ||||||
First Financial Bancorp |
95,829 | 2,140,820 | ||||||
First Financial Corp. |
8,358 | 390,486 | ||||||
First Foundation, Inc. |
37,861 | 788,266 | ||||||
First Hawaiian, Inc. |
1,274,711 | 32,492,383 | ||||||
First Interstate BancSystem, Inc., Class A |
457,255 | 18,646,859 | ||||||
First Merchants Corp. |
517,706 | 21,500,330 | ||||||
Flushing Financial Corp. |
20,408 | 440,609 | ||||||
FNB Corp. |
319,827 | 3,825,131 | ||||||
Fulton Financial Corp. |
163,211 | 2,723,992 | ||||||
Glacier Bancorp, Inc. |
201,911 | 10,113,722 | ||||||
Great Southern Bancorp, Inc. |
8,346 | 516,951 | ||||||
Hancock Whitney Corp. |
325,895 | 15,906,935 | ||||||
Hanmi Financial Corp. |
20,503 | 518,111 | ||||||
HarborOne Bancorp, Inc. |
393,480 | 5,705,460 | ||||||
Heartland Financial USA, Inc. |
42,301 | 1,899,315 | ||||||
Heritage Commerce Corp. |
548,653 | 6,463,132 | ||||||
Heritage Financial Corp. |
214,081 | 5,570,388 | ||||||
Hilltop Holdings, Inc. |
168,712 | 4,867,341 | ||||||
Home BancShares, Inc. |
308,839 | 7,288,600 | ||||||
HomeStreet, Inc. |
12,940 | 482,533 | ||||||
Hope Bancorp, Inc. |
123,023 | 1,850,266 | ||||||
Horizon Bancorp, Inc. |
29,316 | 559,056 | ||||||
Independent Bank Group, Inc. |
80,502 | 5,693,101 | ||||||
International Bancshares Corp. |
96,746 | 4,243,279 | ||||||
Lakeland Bancorp, Inc. |
43,474 | 692,106 | ||||||
Mercantile Bank Corp. |
6,855 | 242,941 | ||||||
Midland States Bancorp, Inc. |
14,769 | 386,948 | ||||||
National Bank Holdings Corp., Class A |
163,798 | 6,817,273 | ||||||
NBT Bancorp, Inc. |
43,451 | 1,761,503 | ||||||
Northwest Bancshares, Inc. |
233,290 | 3,354,710 | ||||||
OceanFirst Financial Corp. |
52,658 | 1,082,648 | ||||||
OFG Bancorp |
1,302,216 | 35,771,873 | ||||||
Old National Bancorp |
3,351,300 | 58,346,133 | ||||||
Origin Bancorp, Inc. |
15,986 | 688,517 | ||||||
Pacific Premier Bancorp, Inc. |
94,925 | 3,193,277 | ||||||
PacWest Bancorp |
117,453 | 3,292,208 | ||||||
Peapack-Gladstone Financial Corp. |
12,245 | 399,922 | ||||||
Peoples Bancorp, Inc. |
19,053 | 589,119 | ||||||
Popular, Inc. |
437,877 | 34,009,907 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Financials - 22.67% (continued) |
| |||||||
Banks - 14.31% (continued) |
| |||||||
Premier Financial Corp. |
23,855 | $ | 679,390 | |||||
QCR Holdings, Inc. |
11,849 | 702,527 | ||||||
Renasant Corp. |
72,317 | 2,415,388 | ||||||
S&T Bancorp, Inc. |
35,218 | 1,089,645 | ||||||
Sandy Spring Bancorp, Inc. |
47,319 | 1,954,275 | ||||||
Seacoast Banking Corp. of Florida |
288,628 | 10,327,110 | ||||||
Silvergate Capital Corp., Class AA |
6,523 | 608,531 | ||||||
Simmons First National Corp., Class A |
120,737 | 2,867,504 | ||||||
Southside Bancshares, Inc. |
29,088 | 1,161,775 | ||||||
SouthState Corp. |
83,813 | 7,104,828 | ||||||
Texas Capital Bancshares, Inc.A |
751,377 | 44,045,720 | ||||||
TriCo Bancshares |
26,605 | 1,271,719 | ||||||
Trustmark Corp. |
99,170 | 3,220,050 | ||||||
UMB Financial Corp. |
162,736 | 14,727,608 | ||||||
Umpqua Holdings Corp. |
1,474,200 | 25,960,662 | ||||||
United Bankshares, Inc. |
129,490 | 5,016,443 | ||||||
United Community Banks, Inc. |
758,529 | 25,812,742 | ||||||
Univest Financial Corp. |
19,917 | 496,730 | ||||||
Valley National Bancorp |
1,147,590 | 13,415,327 | ||||||
Veritex Holdings, Inc. |
49,631 | 1,535,583 | ||||||
Washington Federal, Inc. |
109,376 | 3,733,003 | ||||||
Webster Financial Corp. |
143,860 | 6,682,297 | ||||||
WesBanco, Inc. |
65,518 | 2,235,474 | ||||||
Westamerica Bancorp |
253,894 | 15,236,179 | ||||||
Wintrust Financial Corp. |
57,220 | 4,923,209 | ||||||
|
|
|||||||
669,921,458 | ||||||||
|
|
|||||||
Capital Markets - 2.70% |
||||||||
Artisan Partners Asset Management, Inc., Class A |
41,681 | 1,657,237 | ||||||
B Riley Financial, Inc.B |
42,637 | 2,197,511 | ||||||
Cohen & Steers, Inc. |
60,095 | 4,428,400 | ||||||
Cowen, Inc., Class A |
17,122 | 600,468 | ||||||
Donnelley Financial Solutions, Inc.A |
30,609 | 1,040,400 | ||||||
Evercore, Inc., Class A |
454,351 | 45,421,469 | ||||||
Federated Hermes, Inc. |
391,834 | 13,365,458 | ||||||
Lazard Ltd., Class A |
207,188 | 7,804,772 | ||||||
LPL Financial Holdings, Inc. |
68,905 | 14,464,538 | ||||||
Moelis & Co., Class A |
58,978 | 2,747,195 | ||||||
Perella Weinberg PartnersB |
1,090,000 | 7,684,500 | ||||||
Piper Sandler Cos., |
27,178 | 3,429,864 | ||||||
Stifel Financial Corp. |
227,737 | 13,620,950 | ||||||
Victory Capital Holdings, Inc., Class A |
64,961 | 1,797,471 | ||||||
Virtu Financial, Inc., Class A |
70,807 | 1,651,927 | ||||||
Virtus Investment Partners, Inc. |
14,408 | 2,972,659 | ||||||
WisdomTree Investments, Inc.B |
243,522 | 1,266,314 | ||||||
|
|
|||||||
126,151,133 | ||||||||
|
|
|||||||
Consumer Finance - 1.16% |
||||||||
Atlanticus Holdings Corp.A |
13,987 | 540,458 | ||||||
Bread Financial Holdings, Inc. |
78,413 | 3,105,939 | ||||||
Encore Capital Group, Inc.A |
30,299 | 2,194,556 | ||||||
Enova International, Inc.A |
54,628 | 1,885,212 | ||||||
Navient Corp. |
331,593 | 5,461,337 | ||||||
Nelnet, Inc., Class A |
43,144 | 4,102,563 | ||||||
PRA Group, Inc.A |
45,881 | 1,827,899 | ||||||
PROG Holdings, Inc.A |
121,404 | 2,236,262 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Financials - 22.67% (continued) |
| |||||||
Consumer Finance - 1.16% (continued) |
| |||||||
SLM Corp. |
2,126,818 | $ | 33,178,361 | |||||
|
|
|||||||
54,532,587 | ||||||||
|
|
|||||||
Diversified Financial Services - 0.01% |
| |||||||
A-Mark Precious Metals, Inc. |
15,401 | 466,650 | ||||||
|
|
|||||||
Insurance - 3.02% |
| |||||||
Ambac Financial Group, Inc.A |
27,800 | 327,206 | ||||||
American Equity Investment Life Holding Co. |
144,414 | 5,424,190 | ||||||
Argo Group International Holdings Ltd. |
63,625 | 2,086,264 | ||||||
Assured Guaranty Ltd. |
140,232 | 8,188,147 | ||||||
Axis Capital Holdings Ltd. |
158,698 | 8,012,662 | ||||||
Brighthouse Financial, Inc.A |
160,398 | 6,964,481 | ||||||
CNO Financial Group, Inc. |
412,830 | 7,740,563 | ||||||
Employers Holdings, Inc. |
26,092 | 1,036,113 | ||||||
Enstar Group Ltd.A |
137,320 | 27,178,374 | ||||||
Genworth Financial, Inc., Class AA |
481,065 | 2,044,526 | ||||||
Global Indemnity Group LLC, Class A |
340,659 | 9,095,595 | ||||||
Horace Mann Educators Corp. |
655,708 | 22,457,999 | ||||||
Kemper Corp. |
39,396 | 1,843,733 | ||||||
Mercury General Corp. |
101,684 | 4,263,610 | ||||||
National Western Life Group, Inc., Class A |
5,194 | 1,049,188 | ||||||
ProAssurance Corp. |
99,447 | 2,200,762 | ||||||
Reinsurance Group of America, Inc. |
137,576 | 15,928,549 | ||||||
Safety Insurance Group, Inc. |
6,386 | 552,708 | ||||||
Selective Insurance Group, Inc. |
84,289 | 6,562,742 | ||||||
Stewart Information Services Corp. |
49,159 | 2,686,539 | ||||||
White Mountains Insurance Group Ltd. |
4,632 | 5,741,040 | ||||||
|
|
|||||||
141,384,991 | ||||||||
|
|
|||||||
Mortgage Real Estate Investment Trusts (REITs) - 0.22% |
||||||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc.B |
280,539 | 10,124,653 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance - 1.25% |
||||||||
Axos Financial, Inc.A |
40,004 | 1,670,567 | ||||||
Capitol Federal Financial, Inc. |
130,897 | 1,255,302 | ||||||
Essent Group Ltd. |
363,436 | 15,177,087 | ||||||
Kearny Financial Corp. |
68,542 | 802,627 | ||||||
Luther Burbank Corp. |
235,041 | 3,100,191 | ||||||
Merchants Bancorp |
40,864 | 1,081,261 | ||||||
MGIC Investment Corp. |
622,521 | 8,802,447 | ||||||
Mr Cooper Group, Inc.A |
164,233 | 7,398,697 | ||||||
NMI Holdings, Inc., Class AA |
81,219 | 1,538,288 | ||||||
PennyMac Financial Services, Inc. |
52,321 | 2,866,668 | ||||||
Provident Financial Services, Inc. |
142,941 | 3,482,043 | ||||||
Radian Group, Inc. |
351,469 | 7,862,362 | ||||||
TrustCo Bank Corp. NY |
12,865 | 431,749 | ||||||
WSFS Financial Corp. |
62,377 | 2,976,630 | ||||||
|
|
|||||||
58,445,919 | ||||||||
|
|
|||||||
Total Financials |
1,061,027,391 | |||||||
|
|
|||||||
Health Care - 3.78% |
||||||||
Biotechnology - 0.26% |
||||||||
Alkermes PLCA |
352,414 | 9,021,798 | ||||||
Ironwood Pharmaceuticals, Inc.A |
163,059 | 1,867,026 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Health Care - 3.78% (continued) |
||||||||
Biotechnology - 0.26% (continued) |
||||||||
Vanda Pharmaceuticals, Inc.A |
107,524 | $ | 1,159,109 | |||||
|
|
|||||||
12,047,933 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies - 0.59% |
||||||||
Embecta Corp.A |
221,050 | 6,505,501 | ||||||
Enovis Corp.A |
87,550 | 5,228,486 | ||||||
Merit Medical Systems, Inc.A |
55,447 | 3,187,094 | ||||||
NuVasive, Inc.A |
133,198 | 6,995,559 | ||||||
Omnicell, Inc.A |
52,393 | 5,769,517 | ||||||
|
|
|||||||
27,686,157 | ||||||||
|
|
|||||||
Health Care Providers & Services - 1.55% |
||||||||
Acadia Healthcare Co., Inc.A |
146,731 | 12,165,467 | ||||||
Amedisys, Inc.A |
52,252 | 6,262,402 | ||||||
Cross Country Healthcare, Inc.A |
71,698 | 1,889,959 | ||||||
Encompass Health Corp. |
539,314 | 27,300,075 | ||||||
Enhabit, Inc. |
244,439 | 4,280,127 | ||||||
ModivCare, Inc.A |
52,234 | 5,212,953 | ||||||
National HealthCare Corp. |
29,217 | 2,075,284 | ||||||
R1 RCM, Inc.A |
542,062 | 13,551,550 | ||||||
|
|
|||||||
72,737,817 | ||||||||
|
|
|||||||
Health Care Technology - 0.36% |
||||||||
Evolent Health, Inc., Class AA |
492,269 | 16,732,223 | ||||||
|
|
|||||||
Life Sciences Tools & Services - 0.47% |
||||||||
Azenta, Inc. |
300,659 | 20,522,984 | ||||||
Medpace Holdings, Inc.A |
8,310 | 1,408,794 | ||||||
|
|
|||||||
21,931,778 | ||||||||
|
|
|||||||
Pharmaceuticals - 0.55% |
||||||||
Amneal Pharmaceuticals, Inc.A |
149,367 | 528,759 | ||||||
Innoviva, Inc.A |
131,188 | 1,881,236 | ||||||
Perrigo Co. PLC |
558,664 | 23,391,262 | ||||||
|
|
|||||||
25,801,257 | ||||||||
|
|
|||||||
Total Health Care |
176,937,165 | |||||||
|
|
|||||||
Industrials - 23.12% |
||||||||
Aerospace & Defense - 1.27% |
||||||||
AAR Corp.A |
95,624 | 4,258,137 | ||||||
Aerojet Rocketdyne Holdings, Inc.A |
207,286 | 9,056,325 | ||||||
AeroVironment, Inc.A |
85,510 | 7,408,586 | ||||||
BWX Technologies, Inc. |
181,204 | 10,270,643 | ||||||
Kaman Corp. |
346,200 | 10,656,036 | ||||||
Mercury Systems, Inc.A |
156,285 | 9,222,378 | ||||||
Spirit AeroSystems Holdings, Inc., Class A |
261,502 | 8,582,496 | ||||||
|
|
|||||||
59,454,601 | ||||||||
|
|
|||||||
Air Freight & Logistics - 0.94% |
||||||||
Air Transport Services Group, Inc.A |
1,212,336 | 37,994,610 | ||||||
Atlas Air Worldwide Holdings, Inc.A |
78,376 | 5,933,847 | ||||||
|
|
|||||||
43,928,457 | ||||||||
|
|
|||||||
Airlines - 0.22% |
||||||||
JetBlue Airways Corp.A |
496,246 | 4,178,391 | ||||||
SkyWest, Inc.A |
80,486 | 1,943,737 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
||||||||
Industrials - 23.12% (continued) |
||||||||
Airlines - 0.22% (continued) |
||||||||
Spirit Airlines, Inc.A |
170,008 | $ | 4,211,098 | |||||
|
|
|||||||
10,333,226 | ||||||||
|
|
|||||||
Building Products - 1.80% |
||||||||
Apogee Enterprises, Inc. |
630,414 | 26,231,527 | ||||||
Armstrong World Industries, Inc. |
71,146 | 6,356,895 | ||||||
AZEK Co., Inc.A |
189,018 | 3,908,892 | ||||||
Gibraltar Industries, Inc.A |
725,622 | 33,951,853 | ||||||
Insteel Industries, Inc. |
36,592 | 1,145,330 | ||||||
Masonite International Corp.A |
17,880 | 1,627,616 | ||||||
UFP Industries, Inc. |
117,145 | 10,801,941 | ||||||
|
|
|||||||
84,024,054 | ||||||||
|
|
|||||||
Commercial Services & Supplies - 2.70% |
||||||||
ACCO Brands Corp. |
182,526 | 1,308,712 | ||||||
Brinks Co. |
452,407 | 25,760,055 | ||||||
Deluxe Corp. |
818,151 | 20,568,316 | ||||||
Harsco Corp.A |
2,696,237 | 12,968,900 | ||||||
Healthcare Services Group, Inc. |
937,392 | 13,442,201 | ||||||
Interface, Inc. |
1,619,681 | 23,469,178 | ||||||
MillerKnoll, Inc. |
907,494 | 27,324,644 | ||||||
Quad/Graphics, Inc.A |
488,590 | 1,553,716 | ||||||
|
|
|||||||
126,395,722 | ||||||||
|
|
|||||||
Construction & Engineering - 2.86% |
||||||||
Arcosa, Inc. |
29,901 | 1,541,696 | ||||||
Dycom Industries, Inc.A |
114,051 | 11,765,501 | ||||||
EMCOR Group, Inc. |
79,914 | 9,299,592 | ||||||
Fluor Corp.A |
1,791,216 | 45,514,799 | ||||||
Granite Construction, Inc. |
205,429 | 6,142,327 | ||||||
Matrix Service Co.A |
75,026 | 415,644 | ||||||
MDU Resources Group, Inc. |
923,567 | 26,386,309 | ||||||
Primoris Services Corp. |
149,123 | 3,483,513 | ||||||
WillScot Mobile Mini Holdings Corp.A |
756,497 | 29,208,349 | ||||||
|
|
|||||||
133,757,730 | ||||||||
|
|
|||||||
Electrical Equipment - 1.50% |
||||||||
Atkore, Inc.A |
84,612 | 8,399,433 | ||||||
Encore Wire Corp. |
211,733 | 29,318,668 | ||||||
EnerSys |
362,614 | 23,899,889 | ||||||
GrafTech International Ltd. |
1,136,740 | 8,752,898 | ||||||
|
|
|||||||
70,370,888 | ||||||||
|
|
|||||||
Machinery - 7.12% |
||||||||
Allison Transmission Holdings, Inc. |
611,499 | 25,603,463 | ||||||
Astec Industries, Inc. |
92,740 | 4,556,316 | ||||||
Barnes Group, Inc. |
278,833 | 9,430,132 | ||||||
Crane Holdings Co. |
104,941 | 10,381,813 | ||||||
Donaldson Co., Inc. |
254,992 | 13,874,115 | ||||||
Energy Recovery, Inc.A |
234,405 | 5,210,823 | ||||||
Enerpac Tool Group Corp. |
1,791,090 | 36,359,127 | ||||||
EnPro Industries, Inc. |
41,677 | 3,895,966 | ||||||
Flowserve Corp. |
1,547,854 | 52,379,379 | ||||||
Greenbrier Cos., Inc. |
1,451,767 | 46,195,226 | ||||||
Hillenbrand, Inc. |
384,326 | 17,755,861 | ||||||
Hyster-Yale Materials Handling, Inc. |
14,253 | 493,011 | ||||||
ITT, Inc. |
254,387 | 19,086,657 | ||||||
Kennametal, Inc. |
1,302,629 | 34,975,589 | ||||||
Lindsay Corp. |
37,109 | 5,713,302 | ||||||
Meritor, Inc.A |
80,274 | 2,923,579 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Industrials - 23.12% (continued) |
| |||||||
Machinery - 7.12% (continued) |
| |||||||
Miller Industries, Inc. |
210,722 | $ | 5,063,650 | |||||
Mueller Industries, Inc. |
108,076 | 7,276,757 | ||||||
Standex International Corp. |
145,480 | 14,123,198 | ||||||
Tennant Co. |
184,459 | 12,364,287 | ||||||
Wabash National Corp. |
301,684 | 5,448,413 | ||||||
|
|
|||||||
333,110,664 | ||||||||
|
|
|||||||
Marine - 0.97% |
||||||||
Eagle Bulk Shipping, Inc. |
13,909 | 736,203 | ||||||
Genco Shipping & Trading Ltd. |
79,117 | 1,525,376 | ||||||
Kirby Corp.A |
511,191 | 32,429,957 | ||||||
Matson, Inc. |
117,636 | 10,783,692 | ||||||
|
|
|||||||
45,475,228 | ||||||||
|
|
|||||||
Professional Services - 2.11% |
||||||||
Heidrick & Struggles International, Inc. |
13,241 | 412,325 | ||||||
Hudson Global, Inc.A |
57,987 | 1,634,654 | ||||||
Huron Consulting Group, Inc.A |
78,959 | 5,298,149 | ||||||
KBR, Inc. |
541,752 | 28,837,459 | ||||||
Kelly Services, Inc., Class A |
67,897 | 1,472,007 | ||||||
Korn Ferry |
486,610 | 31,877,821 | ||||||
ManpowerGroup, Inc. |
179,400 | 14,066,754 | ||||||
Resources Connection, Inc. |
22,162 | 475,596 | ||||||
TrueBlue, Inc.A |
674,267 | 14,591,138 | ||||||
|
|
|||||||
98,665,903 | ||||||||
|
|
|||||||
Road & Rail - 0.25% |
||||||||
ArcBest Corp. |
46,320 | 4,103,952 | ||||||
Ryder System, Inc. |
96,443 | 7,553,416 | ||||||
|
|
|||||||
11,657,368 | ||||||||
|
|
|||||||
Trading Companies & Distributors - 1.38% |
||||||||
Air Lease Corp. |
225,380 | 8,363,852 | ||||||
BlueLinx Holdings, Inc.A |
5,822 | 465,760 | ||||||
Boise Cascade Co. |
106,348 | 7,519,867 | ||||||
GMS, Inc.A |
81,158 | 4,307,055 | ||||||
MSC Industrial Direct Co., Inc., Class A |
90,943 | 7,517,348 | ||||||
NOW, Inc.A |
1,396,612 | 15,446,529 | ||||||
Rush Enterprises, Inc., Class A |
57,129 | 2,753,046 | ||||||
Titan Machinery, Inc.A |
32,662 | 918,782 | ||||||
Triton International Ltd. |
209,082 | 13,397,975 | ||||||
Univar Solutions, Inc.A |
104,600 | 2,828,384 | ||||||
Veritiv Corp.A |
9,100 | 1,128,582 | ||||||
|
|
|||||||
64,647,180 | ||||||||
|
|
|||||||
Total Industrials |
1,081,821,021 | |||||||
|
|
|||||||
Information Technology - 10.43% |
||||||||
Communications Equipment - 2.18% |
||||||||
ADTRAN Holdings, Inc. |
512,312 | 12,341,596 | ||||||
Ciena Corp.A |
349,152 | 18,016,243 | ||||||
CommScope Holding Co., Inc.A |
320,873 | 2,897,483 | ||||||
Extreme Networks, Inc.A |
939,192 | 12,284,632 | ||||||
F5, Inc.A |
165,300 | 27,664,608 | ||||||
Infinera Corp.A |
2,851,415 | 18,676,768 | ||||||
Lumentum Holdings, Inc.A |
68,680 | 6,212,793 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Information Technology - 10.43% (continued) |
| |||||||
Communications Equipment - 2.18% (continued) |
| |||||||
Viasat, Inc.A |
113,741 | $ | 3,745,491 | |||||
|
|
|||||||
101,839,614 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components - 3.22% |
||||||||
Arrow Electronics, Inc.A |
43,876 | 5,623,587 | ||||||
Avnet, Inc. |
513,287 | 24,571,049 | ||||||
Belden, Inc. |
224,090 | 14,503,105 | ||||||
Benchmark Electronics, Inc. |
66,425 | 1,699,152 | ||||||
FARO Technologies, Inc.A |
290,961 | 9,462,052 | ||||||
II-VI, Inc.A B |
339,454 | 17,868,859 | ||||||
Itron, Inc.A |
325,800 | 19,026,720 | ||||||
Kimball Electronics, Inc.A |
15,025 | 330,550 | ||||||
Methode Electronics, Inc. |
258,934 | 10,678,438 | ||||||
nLight, Inc.A |
302,975 | 3,714,473 | ||||||
Plexus Corp.A |
165,600 | 15,558,120 | ||||||
Sanmina Corp.A |
176,229 | 8,115,345 | ||||||
ScanSource, Inc.A |
48,313 | 1,543,600 | ||||||
TTM Technologies, Inc.A |
191,796 | 2,595,000 | ||||||
Vishay Intertechnology, Inc. |
250,579 | 5,176,962 | ||||||
Vishay Precision Group, Inc.A |
252,166 | 7,862,536 | ||||||
Vontier Corp. |
99,500 | 2,567,100 | ||||||
|
|
|||||||
150,896,648 | ||||||||
|
|
|||||||
IT Services - 0.53% |
||||||||
Edgio, Inc.A |
762,139 | 1,928,212 | ||||||
Euronet Worldwide, Inc.A |
233,991 | 22,994,295 | ||||||
|
|
|||||||
24,922,507 | ||||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment - 2.60% |
||||||||
Alpha & Omega Semiconductor Ltd.A |
16,700 | 701,567 | ||||||
Amkor Technology, Inc. |
24,550 | 495,174 | ||||||
Cohu, Inc.A |
746,799 | 21,343,515 | ||||||
Diodes, Inc.A |
458,927 | 37,342,890 | ||||||
Kulicke & Soffa Industries, Inc.B |
657,558 | 31,641,691 | ||||||
MaxLinear, Inc.A |
22,845 | 923,166 | ||||||
Photronics, Inc.A |
1,193,058 | 28,406,711 | ||||||
SMART Global Holdings, Inc.A |
30,900 | 606,258 | ||||||
|
|
|||||||
121,460,972 | ||||||||
|
|
|||||||
Software - 0.93% |
||||||||
A10 Networks, Inc. |
496,255 | 7,399,162 | ||||||
Cognyte Software Ltd.A |
130,480 | 588,465 | ||||||
Progress Software Corp. |
239,707 | 11,256,641 | ||||||
Telos Corp.A |
1,106,977 | 8,789,397 | ||||||
Verint Systems, Inc.A |
151,832 | 6,934,168 | ||||||
WM Technology, Inc.A B |
627,950 | 2,135,030 | ||||||
Xperi Holding Corp. |
104,986 | 1,759,565 | ||||||
Zuora, Inc., Class AA |
559,417 | 4,760,639 | ||||||
|
|
|||||||
43,623,067 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals - 0.97% |
||||||||
Corsair Gaming, Inc.A |
81,925 | 1,155,142 | ||||||
Super Micro Computer, Inc.A |
649,812 | 35,096,346 | ||||||
Xerox Holdings Corp. |
519,436 | 8,897,939 | ||||||
|
|
|||||||
45,149,427 | ||||||||
|
|
|||||||
Total Information Technology |
487,892,235 | |||||||
|
|
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Materials - 6.36% |
||||||||
Chemicals - 1.78% |
||||||||
AdvanSix, Inc. |
18,932 | $ | 743,838 | |||||
Cabot Corp. |
417,042 | 30,969,539 | ||||||
Ecovyst, Inc. |
1,306,506 | 13,365,556 | ||||||
Element Solutions, Inc. |
1,138,648 | 22,499,685 | ||||||
Intrepid Potash, Inc.A |
8,400 | 383,040 | ||||||
Koppers Holdings, Inc. |
14,180 | 333,797 | ||||||
Livent Corp.A |
188,959 | 4,703,190 | ||||||
Mativ, Inc. |
96,915 | 2,117,593 | ||||||
Minerals Technologies, Inc. |
57,541 | 3,844,314 | ||||||
Tronox Holdings PLC, Class A |
294,443 | 4,596,255 | ||||||
|
|
|||||||
83,556,807 | ||||||||
|
|
|||||||
Containers & Packaging - 0.73% |
||||||||
Greif, Inc., Class A |
50,143 | 3,541,099 | ||||||
O-I Glass, Inc.A |
386,808 | 5,689,946 | ||||||
Silgan Holdings, Inc. |
190,192 | 8,463,544 | ||||||
Sonoco Products Co. |
259,846 | 16,497,622 | ||||||
|
|
|||||||
34,192,211 | ||||||||
|
|
|||||||
Metals & Mining - 3.84% |
||||||||
Alamos Gold, Inc., Class A |
718,184 | 5,666,472 | ||||||
ATI, Inc.A |
1,493,598 | 37,175,654 | ||||||
Carpenter Technology Corp. |
464,073 | 14,915,306 | ||||||
Commercial Metals Co. |
362,996 | 14,381,901 | ||||||
Elah Holdings, Inc.A |
3,357 | 220,051 | ||||||
Ferroglobe PLCA |
1,764,171 | 10,849,652 | ||||||
Hecla Mining Co. |
1,457,330 | 6,601,705 | ||||||
Kaiser Aluminum Corp. |
507,315 | 38,439,258 | ||||||
Largo, Inc.A B |
78,175 | 594,130 | ||||||
Materion Corp. |
285,234 | 23,372,074 | ||||||
MP Materials Corp.A B |
194,744 | 6,537,556 | ||||||
Royal Gold, Inc. |
65,337 | 6,845,357 | ||||||
Ryerson Holding Corp. |
25,942 | 710,811 | ||||||
Schnitzer Steel Industries, Inc., Class A |
180,694 | 6,425,479 | ||||||
SunCoke Energy, Inc. |
55,968 | 414,163 | ||||||
TimkenSteel Corp.A |
31,271 | 634,489 | ||||||
Warrior Met Coal, Inc. |
31,900 | 1,018,567 | ||||||
Worthington Industries, Inc. |
94,652 | 4,847,129 | ||||||
|
|
|||||||
179,649,754 | ||||||||
|
|
|||||||
Paper & Forest Products - 0.01% |
||||||||
Clearwater Paper Corp.A |
11,362 | 405,623 | ||||||
|
|
|||||||
Total Materials |
297,804,395 | |||||||
|
|
|||||||
Real Estate - 3.72% |
||||||||
Equity Real Estate Investment Trusts (REITs) - 2.73% |
||||||||
Agree Realty Corp. |
314,943 | 25,066,313 | ||||||
Apple Hospitality REIT, Inc. |
831,341 | 13,866,768 | ||||||
Cousins Properties, Inc. |
584,671 | 18,037,100 | ||||||
EPR Properties |
124,430 | 6,695,578 | ||||||
Highwoods Properties, Inc. |
66,292 | 2,358,007 | ||||||
Hudson Pacific Properties, Inc. |
393,885 | 5,924,030 | ||||||
National Retail Properties, Inc. |
193,963 | 9,234,579 | ||||||
Pebblebrook Hotel Trust |
240,822 | 4,710,478 | ||||||
Physicians Realty Trust |
278,435 | 4,947,790 | ||||||
PotlatchDeltic Corp. |
163,997 | 8,040,773 | ||||||
Rayonier, Inc. |
117,282 | 4,427,396 | ||||||
Ryman Hospitality Properties, Inc.A |
11,134 | 985,804 |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
COMMON STOCKS - 97.08% (continued) |
| |||||||
Real Estate - 3.72% (continued) |
| |||||||
Equity Real Estate Investment Trusts (REITs) - 2.73% (continued) |
| |||||||
STAG Industrial, Inc. |
94,079 | $ | 3,083,910 | |||||
Sunstone Hotel Investors, Inc.A |
690,580 | 7,824,271 | ||||||
Terreno Realty Corp. |
74,566 | 4,671,560 | ||||||
Urban Edge Properties |
473,812 | 7,784,731 | ||||||
|
|
|||||||
127,659,088 | ||||||||
|
|
|||||||
Real Estate Management & Development - 0.99% |
||||||||
Anywhere Real Estate, Inc.A |
314,950 | 3,127,454 | ||||||
Cushman & Wakefield PLCA |
139,440 | 2,342,592 | ||||||
Douglas Elliman, Inc. |
480,853 | 2,885,118 | ||||||
Howard Hughes Corp.A |
86,328 | 6,119,792 | ||||||
Newmark Group, Inc., Class A |
410,092 | 4,675,049 | ||||||
RE/MAX Holdings, Inc., Class A |
11,938 | 302,509 | ||||||
RMR Group, Inc., Class A |
482,133 | 13,938,465 | ||||||
Seritage Growth Properties, Class AA |
1,062,963 | 12,776,815 | ||||||
|
|
|||||||
46,167,794 | ||||||||
|
|
|||||||
Total Real Estate |
173,826,882 | |||||||
|
|
|||||||
Utilities - 2.00% |
||||||||
Electric Utilities - 0.89% |
||||||||
ALLETE, Inc. |
373,890 | 23,207,352 | ||||||
PNM Resources, Inc. |
186,222 | 8,988,936 | ||||||
Portland General Electric Co. |
184,123 | 9,452,875 | ||||||
|
|
|||||||
41,649,163 | ||||||||
|
|
|||||||
Gas Utilities - 0.48% |
||||||||
Chesapeake Utilities Corp. |
50,848 | 6,972,786 | ||||||
Southwest Gas Holdings, Inc. |
73,888 | 6,425,301 | ||||||
Spire, Inc. |
25,827 | 1,943,223 | ||||||
UGI Corp. |
161,924 | 6,988,640 | ||||||
|
|
|||||||
22,329,950 | ||||||||
|
|
|||||||
Multi-Utilities - 0.63% |
||||||||
Avista Corp. |
480,368 | 20,300,351 | ||||||
NorthWestern Corp.B |
169,035 | 9,372,991 | ||||||
|
|
|||||||
29,673,342 | ||||||||
|
|
|||||||
Total Utilities |
93,652,455 | |||||||
|
|
|||||||
Total Common Stocks (Cost $4,007,061,592) |
4,543,060,619 | |||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 2.65% (Cost $123,687,721) |
||||||||
Investment Companies - 2.65% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%C D |
123,687,721 | 123,687,721 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL - 0.21% (Cost $9,921,632) |
||||||||
Investment Companies - 0.21% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%C D |
9,921,632 | 9,921,632 | ||||||
|
|
|||||||
TOTAL INVESTMENTS - 99.94% (Cost $4,140,670,945) |
4,676,669,972 | |||||||
OTHER ASSETS, NET OF LIABILITIES - 0.06% |
2,961,776 | |||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 4,679,631,748 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | Non-income producing security. |
B | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
See accompanying notes
American Beacon Small Cap Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
C | The Fund is affiliated by having the same investment advisor. |
D | 7-day yield. |
LLC - Limited Liability Company.
LP - Limited Partnership.
PLC - Public Limited Company.
REIT - Real Estate Investment Trust.
Long Futures Contracts Open on July 31, 2022:
Equity Futures Contracts
Description |
Number of Contracts |
Expiration Date |
Notional Amount | Contract Value | Unrealized Appreciation (Depreciation) |
|||||||||||
CME e-Mini Russell 2000 Index Futures |
1,276 | September 2022 | $ | 114,359,411 | $ | 120,282,140 | $ | 5,922,729 | ||||||||
|
|
|
|
|
|
|||||||||||
$ | 114,359,411 | $ | 120,282,140 | $ | 5,922,729 | |||||||||||
|
|
|
|
|
|
Index Abbreviations:
CME |
Chicago Mercantile Exchange. |
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
Small Cap Value Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Common Stocks |
$ | 4,543,060,619 | $ | | $ | | $ | 4,543,060,619 | ||||||||
Short-Term Investments |
123,687,721 | | | 123,687,721 | ||||||||||||
Securities Lending Collateral |
9,921,632 | | | 9,921,632 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | 4,676,669,972 | $ | | $ | | $ | 4,676,669,972 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Financial Derivative Instruments - Assets |
||||||||||||||||
Futures Contracts |
$ | 5,922,729 | $ | | $ | | $ | 5,922,729 | ||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Financial Derivative Instruments - Assets |
$ | 5,922,729 | $ | | $ | | $ | 5,922,729 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon Tocqueville International Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
Australia - 2.29% (Cost $4,178,140) |
||||||||
Common Stocks - 2.29% |
||||||||
BHP Group Ltd., ADRA |
99,200 | $ | 5,459,968 | |||||
|
|
|||||||
Belgium - 2.28% (Cost $5,114,978) |
||||||||
Common Stocks - 2.28% |
||||||||
Groupe Bruxelles Lambert SAB |
61,312 | 5,420,618 | ||||||
|
|
|||||||
Canada - 1.46% (Cost $1,570,122) |
||||||||
Common Stocks - 1.46% |
||||||||
Nutrien Ltd. |
40,550 | 3,473,513 | ||||||
|
|
|||||||
China/Hong Kong - 1.47% (Cost $4,426,212) |
||||||||
Common Stocks - 1.47% |
||||||||
Swire Pacific Ltd., Class AB |
612,500 | 3,494,818 | ||||||
|
|
|||||||
France - 15.67% |
||||||||
Common Stocks - 15.67% |
||||||||
Accor SAB C |
82,700 | 2,146,393 | ||||||
Bollore SEB |
1,186,240 | 5,981,655 | ||||||
Bureau Veritas SAB |
221,878 | 6,120,269 | ||||||
EssilorLuxottica SAB |
45,952 | 7,209,288 | ||||||
JCDecaux SAB C |
109,241 | 1,763,013 | ||||||
LVMH Moet Hennessy Louis Vuitton SEB |
2,000 | 1,391,214 | ||||||
Orpea SAA B C |
69,600 | 1,731,493 | ||||||
SanofiB |
69,800 | 6,945,294 | ||||||
Vivendi SEB |
421,830 | 4,003,275 | ||||||
|
|
|||||||
Total Common Stocks |
37,291,894 | |||||||
|
|
|||||||
Total France (Cost $41,607,585) |
37,291,894 | |||||||
|
|
|||||||
Germany - 15.73% |
||||||||
Common Stocks - 13.74% |
||||||||
adidas AGB |
18,200 | 3,123,465 | ||||||
Duerr AGB |
135,200 | 3,349,294 | ||||||
GEA Group AGB |
77,864 | 2,894,275 | ||||||
Infineon Technologies AGB |
221,500 | 6,015,887 | ||||||
KION Group AGB |
42,000 | 1,904,210 | ||||||
SAP SEB |
52,600 | 4,875,359 | ||||||
Siemens AG, ADR |
79,300 | 4,420,182 | ||||||
Software AGB |
120,600 | 3,235,053 | ||||||
Stroeer SE & Co. KGaAB |
65,769 | 2,876,337 | ||||||
|
|
|||||||
Total Common Stocks |
32,694,062 | |||||||
|
|
|||||||
Preferred Stocks - 1.99% |
||||||||
Henkel AG & Co. KGaAB D |
74,400 | 4,740,358 | ||||||
|
|
|||||||
Total Germany (Cost $42,366,780) |
37,434,420 | |||||||
|
|
|||||||
Ireland - 2.32% (Cost $4,550,172) |
||||||||
Common Stocks - 2.32% |
||||||||
CRH PLCB |
144,100 | 5,520,603 | ||||||
|
|
|||||||
Japan - 19.21% |
||||||||
Common Stocks - 19.21% |
||||||||
Amano Corp.B |
228,883 | 4,390,260 | ||||||
Asahi Group Holdings Ltd.B |
207,500 | 7,197,503 | ||||||
FANUC Corp.B |
37,300 | 6,444,408 | ||||||
Hitachi Ltd.B |
103,498 | 5,251,879 | ||||||
Hoya Corp.B |
24,300 | 2,440,840 | ||||||
Makita Corp.B |
83,900 | 2,047,669 |
See accompanying notes
American Beacon Tocqueville International Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
Japan - 19.21% (continued) |
| |||||||
Common Stocks - 19.21% (continued) |
| |||||||
Rohm Co. Ltd.B |
41,720 | $ | 3,097,104 | |||||
Shimano, Inc.B |
6,800 | 1,148,994 | ||||||
Sony Group Corp., ADR |
67,500 | 5,763,825 | ||||||
TBS Holdings, Inc.B |
303,620 | 3,888,560 | ||||||
Toyota Industries Corp.B |
66,800 | 4,048,265 | ||||||
|
|
|||||||
Total Common Stocks |
45,719,307 | |||||||
|
|
|||||||
Total Japan (Cost $43,475,031) |
45,719,307 | |||||||
|
|
|||||||
Mexico - 2.93% |
||||||||
Common Stocks - 2.93% |
||||||||
Fomento Economico Mexicano SAB de CV, ADR |
58,300 | 3,613,434 | ||||||
Grupo Televisa SAB, ADR |
428,700 | 3,352,434 | ||||||
|
|
|||||||
Total Common Stocks |
6,965,868 | |||||||
|
|
|||||||
Total Mexico (Cost $7,480,128) |
6,965,868 | |||||||
|
|
|||||||
Netherlands - 0.26% (Cost $582,941) |
||||||||
Common Stocks - 0.26% |
||||||||
JDE Peets NVB |
21,000 | 608,906 | ||||||
|
|
|||||||
Republic of Korea - 3.00% (Cost $4,823,069) |
||||||||
Preferred Stocks - 3.00% |
||||||||
Samsung Electronics Co. Ltd.B D |
161,800 | 7,130,324 | ||||||
|
|
|||||||
Spain - 4.47% |
||||||||
Common Stocks - 4.47% |
||||||||
Applus Services SAB |
467,600 | 3,401,642 | ||||||
Cellnex Telecom SAB E |
60,100 | 2,690,079 | ||||||
Industria de Diseno Textil SAB |
187,400 | 4,551,856 | ||||||
|
|
|||||||
Total Common Stocks |
10,643,577 | |||||||
|
|
|||||||
Total Spain (Cost $13,095,228) |
10,643,577 | |||||||
|
|
|||||||
Switzerland - 7.64% |
||||||||
Common Stocks - 7.64% |
||||||||
Alcon, Inc. |
69,900 | 5,458,491 | ||||||
Novartis AG, ADR |
71,200 | 6,111,096 | ||||||
UBS Group AGA C |
406,390 | 6,599,774 | ||||||
|
|
|||||||
Total Common Stocks |
18,169,361 | |||||||
|
|
|||||||
Total Switzerland (Cost $14,388,732) |
18,169,361 | |||||||
|
|
|||||||
Taiwan - 1.44% (Cost $2,654,039) |
||||||||
Common Stocks - 1.44% |
||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR |
38,700 | 3,424,176 | ||||||
|
|
|||||||
United Kingdom - 13.59% |
||||||||
Common Stocks - 13.59% |
||||||||
BP PLC, ADR |
277,000 | 8,138,260 | ||||||
Diageo PLC, ADR |
35,570 | 6,808,098 | ||||||
Experian PLCB |
71,300 | 2,498,186 | ||||||
IMI PLCB |
139,600 | 2,279,655 | ||||||
Johnson Matthey PLCB |
109,600 | 2,864,292 | ||||||
Smith & Nephew PLCB |
368,800 | 4,721,996 |
See accompanying notes
American Beacon Tocqueville International Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Shares | Fair Value | |||||||
United Kingdom - 13.59% (continued) |
| |||||||
Common Stocks - 13.59% (continued) |
| |||||||
Smiths Group PLCB |
266,800 | $ | 5,035,131 | |||||
|
|
|||||||
Total Common Stocks |
32,345,618 | |||||||
|
|
|||||||
Total United Kingdom (Cost $30,033,659) |
32,345,618 | |||||||
|
|
|||||||
United States - 1.84% (Cost $6,052,522) |
||||||||
Common Stocks - 1.84% |
||||||||
Clarivate PLCC |
301,500 | 4,368,735 | ||||||
|
|
|||||||
SHORT-TERM INVESTMENTS - 3.72% (Cost $8,846,748) |
||||||||
Investment Companies - 3.72% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%F G |
8,846,748 | 8,846,748 | ||||||
|
|
|||||||
SECURITIES LENDING COLLATERAL - 0.81% (Cost $1,919,219) |
||||||||
Investment Companies - 0.81% |
||||||||
American Beacon U.S. Government Money Market Select Fund, 1.68%F G |
1,919,219 | 1,919,219 | ||||||
|
|
|||||||
TOTAL INVESTMENTS - 100.13% (Cost $237,165,305) |
238,237,673 | |||||||
LIABILITIES, NET OF OTHER ASSETS - (0.13%) |
(297,573 | ) | ||||||
|
|
|||||||
TOTAL NET ASSETS - 100.00% |
$ | 237,940,100 | ||||||
|
|
Percentages are stated as a percent of net assets.
A | All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2022. |
B | Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amounted to $160,479,720 or 67.45% of net assets. |
C | Non-income producing security. |
D | A type of Preferred Stock that has no maturity date. |
E | Security exempt from registration under the Securities Act of 1933. These securities may be resold to qualified institutional buyers pursuant to Rule 144A. At the period end, the value of these securities amounted to $2,690,079 or 1.13% of net assets. The Fund has no right to demand registration of these securities. |
F | The Fund is affiliated by having the same investment advisor. |
G | 7-day yield. |
ADR - American Depositary Receipt.
PLC - Public Limited Company.
The Funds investments are summarized by level based on the inputs used to determine their values. As of July 31, 2022, the investments were classified as described below:
Tocqueville International Value Fund |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets |
||||||||||||||||
Foreign Common Stocks |
| |||||||||||||||
Australia |
$ | 5,459,968 | $ | | $ | | $ | 5,459,968 | ||||||||
Belgium |
| 5,420,618 | | 5,420,618 | ||||||||||||
Canada |
3,473,513 | | | 3,473,513 | ||||||||||||
China/Hong Kong |
| 3,494,818 | | 3,494,818 | ||||||||||||
France |
| 37,291,894 | | 37,291,894 | ||||||||||||
Germany |
4,420,182 | 28,273,880 | | 32,694,062 | ||||||||||||
Ireland |
| 5,520,603 | | 5,520,603 | ||||||||||||
Japan |
5,763,825 | 39,955,482 | | 45,719,307 |
See accompanying notes
American Beacon Tocqueville International Value FundSM
Schedule of Investments
July 31, 2022 (Unaudited)
Mexico |
6,965,868 | | | 6,965,868 | ||||||||||||
Netherlands |
| 608,906 | | 608,906 | ||||||||||||
Spain |
| 10,643,577 | | 10,643,577 | ||||||||||||
Switzerland |
18,169,361 | | | 18,169,361 | ||||||||||||
Taiwan |
3,424,176 | | | 3,424,176 | ||||||||||||
United Kingdom |
14,946,358 | 17,399,260 | | 32,345,618 | ||||||||||||
Foreign Preferred Stocks |
| |||||||||||||||
Germany |
| 4,740,358 | | 4,740,358 | ||||||||||||
Republic of Korea |
| 7,130,324 | | 7,130,324 | ||||||||||||
Common Stocks |
| |||||||||||||||
United States |
4,368,735 | | | 4,368,735 | ||||||||||||
Short-Term Investments |
8,846,748 | | | 8,846,748 | ||||||||||||
Securities Lending Collateral |
1,919,219 | | | 1,919,219 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities - Assets |
$ | 77,757,953 | $ | 160,479,720 | $ | | $ | 238,237,673 | ||||||||
|
|
|
|
|
|
|
|
U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2022, there were no transfers into or out of Level 3.
See accompanying notes
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (Unaudited)
Organization
American Beacon Funds (the Trust) is organized as a Massachusetts business trust. As of July 31, 2022, the Trust consists of twenty-seven active series, seven of which are presented in this filing: American Beacon Balanced Fund, American Beacon Garcia Hamilton Quality Bond Fund, American Beacon International Equity Fund, American Beacon Large Cap Value Fund, American Beacon Mid-Cap Value Fund, American Beacon Small Cap Value Fund, and American Beacon Tocqueville International Value Fund (collectively the Funds and each individually a Fund). The Funds, each a series within the Trust, are registered under the Investment Company Act of 1940, as amended (the Act), diversified, open-end management investment companies. The remaining twenty active series are reported in separate filings.
American Beacon Advisors, Inc. (the Manager) is a Delaware corporation and a wholly-owned subsidiary of Resolute Investment Managers, Inc. (RIM) organized in 1986 to provide business management, advisory, administrative, and asset management consulting services to the Trust and other investors. The Manager is registered as an investment advisor under the Investment Advisers Act of 1940, as amended (the Advisers Act). RIM is, in turn, a wholly-owned subsidiary of Resolute Acquisition, Inc., which is a wholly-owned subsidiary of Resolute Topco, Inc., a wholly-owned subsidiary of Resolute Investment Holdings, LLC (RIH). RIH is owned primarily by Kelso Investment Associates VIII, L.P., KEP VI, LLC and Estancia Capital Partners L.P., investment funds affiliated with Kelso & Company, L.P. (Kelso) or Estancia Capital Management, LLC (Estancia), which are private equity firms.
Recently Adopted Accounting Pronouncements
In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-04, which provides optional expedients and exceptions for contracts, hedging relationships and other transactions affected by the transitioning away from the London Interbank Offered Rate (LIBOR) and other reference rates that are expected to be discontinued. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. At this time, management is evaluating the implications of these changes on the financial statements.
In October 2020, the U.S. Securities and Exchange Commission (SEC) adopted new regulations governing the use of derivatives by registered investment companies. Rule 18f-4 will impose limits on the amount of derivatives a fund could enter into, eliminate the asset segregation framework currently used by funds to comply with Section 18 of the Act, and require funds whose use of derivatives is more than a limited specified exposure to establish and maintain a derivatives risk management program and appoint a derivatives risk manager. While the new rule became effective February 19, 2021, funds will not be required to fully comply with the new rule until August 19, 2022. It is not currently clear what impact, if any, the new rule will have on the availability, liquidity or performance of derivatives. When fully implemented, the new rule may require changes in how a fund will use derivatives, may adversely affect a funds performance and may increase costs related to a funds use of derivatives.
On December 3, 2020, the SEC adopted new rule 2a-5 (Valuation Rule) under the Investment Company Act of 1940, establishing an updated regulatory framework for fund valuation. The Valuation Rule, in part, provides a framework for good faith fair value determination and permits a Board to designate fair value determinations to a funds investment adviser. Further, the SEC is rescinding previously issued guidance on related issues. The Valuation Rule became effective on March 8, 2021, with a compliance date of September 8, 2022. Management is currently evaluating the Valuation Rule and its effect on the Funds.
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (Unaudited)
Security Valuation and Fair Value Measurements
The price of each Funds shares is based on its net asset value (NAV) per share. Each Funds NAV is computed by adding total assets, subtracting all the Funds liabilities, and dividing the result by the total number of shares outstanding.
The NAV of each class of a Funds shares is determined based on a pro rata allocation of a Funds investment income, expenses and total capital gains and losses. A Funds 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 Funds 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 Funds 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.
Securities may be valued at fair value, as determined in good faith and pursuant to procedures approved by the Board, under certain limited circumstances. For example, fair value pricing will be used 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 securitys 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 securitys 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 Funds 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 Funds 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 its 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 Board, 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 Valuation Committee, established by the Board, 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 days opening prices in the same markets and adjusted prices.
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (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 Funds fair valuation procedures. If any significant discrepancies are found, the Manager may adjust a Funds fair valuation procedures.
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 Funds 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 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.
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (Unaudited)
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.
OTC financial derivative instruments, such as forward foreign currency contracts, options contracts, or swap agreements, 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.
Securities Lending
The Funds may lend their securities to qualified financial institutions, such as certain broker-dealers, to earn additional income. The borrowers are required to secure their loans continuously with collateral in an amount at least equal to the fair value of the securities loaned, initially in an amount at least equal to 102% of the fair value of domestic securities loaned and 105% of the fair value of international securities loaned. Collateral is monitored and marked-to-market daily. Daily mark-to-market amounts are required to be paid to the borrower or received from the borrower by the end of the following business day. This one day settlement for mark-to-market amounts may result in the collateral being temporarily less than the value of the securities on loan or temporarily more than the required minimum collateral.
To the extent that a loan is collateralized by cash, such cash collateral shall be invested by the securities lending agent (the Agent) in money market mutual funds and other short-term investments, provided the investments meet certain quality and diversification requirements. Securities purchased with cash collateral proceeds are listed in the Funds Schedules of Investments.
Securities lending income is generated from the demand premium (if any) paid by the borrower to borrow a specific security and from the return on investment of cash collateral, reduced by negotiated rebate fees paid to the borrower and transaction costs. To the extent that a loan is secured by non-cash collateral, securities lending income is generated as a demand premium reduced by transaction costs. The Funds, the Agent, and the Manager retained 80%, 10%, and 10%, respectively, of the income generated from securities lending.
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (Unaudited)
While securities are on loan, the Funds continue to receive certain income associated with that security and any gain or loss in the market price that may occur during the term of the loan. In the case of domestic equities, the value of any dividend is received in the form of a substitute payment approximately equal to the dividend. In the case of foreign securities, a negotiated amount is received that is less than the actual dividend, but higher than the dividend amount minus the foreign tax that the Funds would be subject to on the dividend.
Securities lending transactions pose certain risks to the Funds, including that the borrower may not provide additional collateral when required or return the securities when due, that the value of the short-term investments will be less than the amount of cash collateral required to be returned to the borrower, that non-cash collateral may be subject to legal constraints in the event of a borrower bankruptcy, and that the cash collateral investments could become illiquid and unable to be used to return collateral to the borrower. The Funds could also experience delays and costs in gaining access to the collateral. The Funds bear the risk of any deficiency in the amount of the cash collateral available for return to the borrower and any action which impairs its ability to liquidate non-cash collateral to satisfy a borrower default.
As of July 31, 2022, the value of outstanding securities on loan and the value of collateral were as follows:
Fund |
Fair Value of Securities on Loan |
Cash Collateral Received |
Non-Cash Collateral Received |
Total Collateral Received |
||||||||||||
Balanced |
$ | 1,378,656 | $ | 591,723 | $ | 819,729 | $ | 1,411,452 | ||||||||
International Equity |
14,724,183 | 535,588 | 14,440,343 | 14,975,931 | ||||||||||||
Large Cap Value |
28,437,834 | 6,839,724 | 22,221,158 | 29,060,882 | ||||||||||||
Mid-Cap Value |
684,583 | 679,549 | | 679,549 | ||||||||||||
Small Cap Value |
76,777,142 | 9,921,632 | 68,392,892 | 78,314,524 | ||||||||||||
Tocqueville International Value |
12,587,459 | 1,919,219 | 10,748,147 | 12,667,366 |
Cash collateral is listed on the Funds Schedules of Investments.
Non-cash collateral received by the Funds may not be sold or re-pledged except to satisfy a borrower default. Therefore, non-cash collateral is not included on the Funds Schedules of Investments.
Federal Income and Excise Taxes
It is the policy of each Fund to qualify as a regulated investment company (RIC), by complying with all applicable provisions of Subchapter M of the Internal Revenue Code, as amended, and to make distributions of taxable income sufficient to relieve it from substantially all federal income and excise taxes. For federal income tax purposes, each Fund is treated as a single entity for the purpose of determining such qualification.
The Funds do not have any unrecorded tax liabilities. Each of the tax years in the four year period ended October 31, 2021 remain subject to examination by the Internal Revenue Service.
Cost of Investments for Federal Income Tax Purposes
As of July 31, 2022, the Funds cost of investments for federal income tax purposes were as follows:
American Beacon FundsSM
Supplementary Notes to Schedules of Investments
July 31, 2022 (Unaudited)
Fund |
Tax Cost | Unrealized Appreciation |
Unrealized (Depreciation) |
Net Unrealized Appreciation (Depreciation) |
||||||||||||
Balanced |
$ | 131,665,549 | $ | 18,554,778 | $ | (7,327,134 | ) | $ | 11,227,644 | |||||||
Garcia Hamilton Quality Bond |
405,500,490 | 3,957,527 | (10,082,345 | ) | (6,124,818 | ) | ||||||||||
International Equity |
1,667,557,756 | 112,004,365 | (196,843,266 | ) | (84,838,901 | ) | ||||||||||
Large Cap Value |
2,562,606,785 | 996,428,542 | (109,247,525 | ) | 887,181,017 | |||||||||||
Mid-Cap Value |
105,669,285 | 27,093,937 | (6,065,561 | ) | 21,028,376 | |||||||||||
Small Cap Value |
4,140,670,945 | 850,008,223 | (314,009,196 | ) | 535,999,027 | |||||||||||
Tocqueville International Value |
237,165,305 | 33,231,606 | (32,159,238 | ) | 1,072,368 |
Under the Regulated Investment Company Modernization Act of 2010 (RIC MOD), net capital losses recognized by the Funds in taxable years beginning after December 22, 2010 are carried forward indefinitely and retain their character as short-term and/or long-term losses.
As of October 31, 2021, the Funds had the following capital loss carryforwards:
Fund |
Short-Term Capital Loss Carryforwards |
Long-Term Capital Loss Carryforwards |
||||||
Garcia Hamilton Quality Bond |
$ | 3,865,914 | $ | 551,990 | ||||
Tocqueville International Value |
| 12,379,528 |