American Beacon Balanced Fund NPORTP American Beacon Garcia Hamilton Quality Bond Fund (Jul 2024 report)

United States

Securities and Exchange Commission

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-04984

AMERICAN BEACON FUNDS

(Exact name of Registrant as specified in charter)

220 East Las Colinas Blvd., Suite 1200

Irving, Texas 75039

(Address of principal executive offices) (Zip code)

Gregory J. Stumm, PRESIDENT

220 East Las Colinas Blvd., Suite 1200

Irving, Texas 75039

(Name and address of agent for service)

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

Date of fiscal year end: October 31, 2024

Date of reporting period: July 31, 2024

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 Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 54.48%
Communication Services - 3.31%
Entertainment - 0.61%
Electronic Arts, Inc.		3,159	$	476,820
Warner Bros Discovery, Inc.^A		24,999		216,241

				693,061

Interactive Media & Services - 1.11%
Alphabet, Inc., Class A		7,376		1,265,279

Media - 1.59%
Comcast Corp., Class A		37,119		1,531,901
Omnicom Group, Inc.		1,786		175,099
Paramount Global, Class B		8,500		97,070

				1,804,070

Total Communication Services				3,762,410

Consumer Discretionary - 4.87%
Automobile Components - 1.14%
Adient PLC^A		3,332		85,832
Aptiv PLC^A		14,795		1,026,625
BorgWarner, Inc.		5,200		183,612

				1,296,069

Automobiles - 0.92%
General Motors Co.		23,642		1,047,813

Hotels, Restaurants & Leisure - 2.21%
Aramark		20,153		690,643
Booking Holdings, Inc.		43		159,746
Carnival Corp.^A		38,908		648,207
Las Vegas Sands Corp.		18,076		717,075
Wynn Resorts Ltd.		3,693		305,854

				2,521,525

Specialty Retail - 0.60%
Lithia Motors, Inc.		2,465		681,154

Total Consumer Discretionary				5,546,561

Consumer Staples - 1.82%
Beverages - 0.56%
Keurig Dr Pepper, Inc.		18,684		640,487

Food Products - 0.37%
Conagra Brands, Inc.		8,400		254,688
Kraft Heinz Co.		4,700		165,487

				420,175

Tobacco - 0.89%
Philip Morris International, Inc.		8,791		1,012,372

Total Consumer Staples				2,073,034

Energy - 6.19%
Energy Equipment & Services - 1.75%
Baker Hughes Co.		9,400		363,968
Halliburton Co.		22,854		792,577
NOV, Inc.		32,100		668,322

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 54.48% (continued)
Energy - 6.19% (continued)
Energy Equipment & Services - 1.75% (continued)
Schlumberger NV		3,500	$	169,015

				1,993,882

Oil, Gas & Consumable Fuels - 4.44%
APA Corp.		33,614		1,048,421
Exxon Mobil Corp.		8,675		1,028,768
Hess Corp.		4,392		673,820
Marathon Oil Corp.		11,531		323,444
Murphy Oil Corp.		3,500		144,830
Ovintiv, Inc.		9,700		450,468
Phillips 66		4,881		710,088
Shell PLC, ADR		9,235		676,187

				5,056,026

Total Energy				7,049,908

Financials - 11.67%
Banks - 5.03%
Bank of America Corp.		6,700		270,077
Citigroup, Inc.		19,557		1,268,858
Citizens Financial Group, Inc.		13,468		574,680
First Citizens BancShares, Inc., Class A		95		198,330
M&T Bank Corp.		2,283		393,064
Truist Financial Corp.		6,000		268,140
U.S. Bancorp		23,861		1,070,882
Wells Fargo & Co.		28,283		1,678,313

				5,722,344

Capital Markets - 1.33%
Bank of New York Mellon Corp.		7,715		502,015
Goldman Sachs Group, Inc.		697		354,794
State Street Corp.		7,676		652,230

				1,509,039

Consumer Finance - 0.85%
American Express Co.		2,263		572,629
Capital One Financial Corp.		1,200		181,680
Discover Financial Services		1,500		215,985

				970,294

Financial Services - 1.73%
Corebridge Financial, Inc.		11,400		336,870
Fidelity National Information Services, Inc.		21,191		1,628,105

				1,964,975

Insurance - 2.73%
Allstate Corp.		3,784		647,518
American International Group, Inc.		16,677		1,321,319
Hartford Financial Services Group, Inc.		6,200		687,704
Willis Towers Watson PLC		1,611		454,753

				3,111,294

Total Financials				13,277,946

Health Care - 8.39%
Health Care Equipment & Supplies - 1.74%
GE HealthCare Technologies, Inc.		7,587		642,088
Medtronic PLC		14,570		1,170,262

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 54.48% (continued)
Health Care - 8.39% (continued)
Health Care Equipment & Supplies - 1.74% (continued)
Zimmer Biomet Holdings, Inc.		1,572	$	175,042

				1,987,392

Health Care Providers & Services - 4.56%
Centene Corp.^A		6,260		481,519
Cigna Group		1,000		348,670
CVS Health Corp.		12,730		768,001
Elevance Health, Inc.		3,549		1,888,174
HCA Healthcare, Inc.		970		352,159
Humana, Inc.		650		235,047
Labcorp Holdings, Inc.		800		172,352
UnitedHealth Group, Inc.		1,640		944,902

				5,190,824

Life Sciences Tools & Services - 0.59%
Avantor, Inc.^A		24,978		668,162

Pharmaceuticals - 1.50%
GSK PLC, ADR		3,854		149,420
Merck & Co., Inc.		6,086		688,509
Sanofi SA, ADR		16,711		865,797

				1,703,726

Total Health Care				9,550,104

Industrials - 5.97%
Aerospace & Defense - 0.93%
Boeing Co.^A		2,100		400,260
General Dynamics Corp.		600		179,226
RTX Corp.		4,100		481,709

				1,061,195

Air Freight & Logistics - 0.62%
FedEx Corp.		2,330		704,242

Building Products - 0.62%
Johnson Controls International PLC		9,853		704,884

Construction & Engineering - 0.37%
AECOM		3,155		285,875
Fluor Corp.^A		2,800		134,680

				420,555

Electrical Equipment - 0.70%
Vertiv Holdings Co.		10,087		793,847

Ground Transportation - 0.70%
JB Hunt Transport Services, Inc.		2,983		516,506
Norfolk Southern Corp.		1,100		274,516

				791,022

Machinery - 1.48%
CNH Industrial NV		31,380		334,197
Cummins, Inc.		1,652		482,054
PACCAR, Inc.		3,058		301,702
Stanley Black & Decker, Inc.		3,811		402,518

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 54.48% (continued)
Industrials - 5.97% (continued)
Machinery - 1.48% (continued)
Timken Co.		1,900	$	165,205

				1,685,676

Professional Services - 0.55%
Jacobs Solutions, Inc.		4,295		628,573

Total Industrials				6,789,994

Information Technology - 5.84%
Communications Equipment - 1.02%
F5, Inc.^A		5,700		1,160,748

Electronic Equipment, Instruments & Components - 0.43%
Corning, Inc.		3,735		149,437
TE Connectivity Ltd.		2,208		340,761

				490,198

IT Services - 0.46%
Cognizant Technology Solutions Corp., Class A		6,917		523,479

Semiconductors & Semiconductor Equipment - 2.08%
Broadcom, Inc.		6,970		1,119,940
Micron Technology, Inc.		1,600		175,712
QUALCOMM, Inc.		5,932		1,073,395

				2,369,047

Software - 1.85%
Oracle Corp.		7,603		1,060,238
Workday, Inc., Class A^A		4,600		1,044,752

				2,104,990

Total Information Technology				6,648,462

Materials - 2.93%
Chemicals - 2.23%
Air Products & Chemicals, Inc.		4,167		1,099,463
Axalta Coating Systems Ltd.^A		19,851		707,688
DuPont de Nemours, Inc.		3,773		315,800
Olin Corp.		9,100		415,051

				2,538,002

Construction Materials - 0.70%
CRH PLC		9,302		797,182

Total Materials				3,335,184

Real Estate - 1.05%
Specialized REITs - 1.05%
Public Storage		1,698		502,472
VICI Properties, Inc.		22,274		696,285

				1,198,757

Total Real Estate				1,198,757

Utilities - 2.44%
Electric Utilities - 2.14%
Entergy Corp.		9,294		1,077,825
Pinnacle West Capital Corp.		8,150		697,559

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 54.48% (continued)
Utilities - 2.44% (continued)
Electric Utilities - 2.14% (continued)
PPL Corp.		22,347	$	664,153

				2,439,537

Multi-Utilities - 0.30%
Dominion Energy, Inc.		6,400		342,144

Total Utilities				2,781,681

Total Common Stocks (Cost $42,363,363)				62,014,041

FOREIGN COMMON STOCKS - 4.39%
Communication Services - 0.52%
Wireless Telecommunication Services - 0.21%
Vodafone Group PLC, ADR^B		25,932		242,724

Media - 0.31%
WPP PLC, ADR^B		7,200		348,048

Total Communication Services				590,772

Consumer Discretionary - 0.53%
Automobile Components - 0.53%
Magna International, Inc.		13,604		603,609

Consumer Staples - 0.82%
Beverages - 0.22%
Anheuser-Busch InBev SA, ADR^B		4,200		249,900

Personal Products - 0.60%
Unilever PLC, ADR		11,140		683,996

Total Consumer Staples				933,896

Energy - 1.09%
Oil, Gas & Consumable Fuels - 1.09%
Cenovus Energy, Inc.		10,700		215,391
Enbridge, Inc.		27,429		1,026,393

				1,241,784

Total Energy				1,241,784

Financials - 0.44%
Banks – 0.44%
Bank of Nova Scotia		10,606		494,982

Information Technology - 0.99%
Communications Equipment - 0.99%
Telefonaktiebolaget LM Ericsson, ADR^B		163,920		1,129,409

Total Foreign Common Stocks (Cost $4,610,310)				4,994,452


	Principal Amount
CORPORATE OBLIGATIONS - 12.27%
Basic Materials - 0.05%
Chemicals - 0.05%
EIDP, Inc., 1.700%, Due 7/15/2025	$	55,000		53,197

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
CORPORATE OBLIGATIONS - 12.27% (continued)
Communications - 1.32%
Internet - 0.42%
Amazon.com, Inc.,
1.200%, Due 6/3/2027	$	250,000	$	228,483
4.650%, Due 12/1/2029		250,000		253,016

				481,499

Media - 0.59%
Charter Communications Operating LLC/Charter Communications Operating Capital,
6.550%, Due 6/1/2034		145,000		148,224
6.484%, Due 10/23/2045		250,000		235,540
5.750%, Due 4/1/2048		50,000		43,090
Comcast Corp., 6.550%, Due 7/1/2039		217,000		243,239

				670,093

Telecommunications - 0.31%
AT&T, Inc.,
3.800%, Due 12/1/2057		70,000		50,134
3.650%, Due 9/15/2059		175,000		120,565
Verizon Communications, Inc., 4.329%, Due 9/21/2028		180,000		177,691

				348,390

Total Communications				1,499,982

Consumer, Cyclical - 1.05%
Airlines - 0.05%
American Airlines Pass-Through Trust, 3.150%, Due 8/15/2033, 2019 1 Series AA		66,555		60,686

Entertainment - 0.20%
Warnermedia Holdings, Inc.,
5.050%, Due 3/15/2042		150,000		117,855
5.391%, Due 3/15/2062		150,000		112,029

				229,884

Home Furnishings - 0.10%
Whirlpool Corp., 5.150%, Due 3/1/2043		125,000		111,467

Retail - 0.70%
Home Depot, Inc., 2.950%, Due 6/15/2029		500,000		465,446
Walmart, Inc.,
2.375%, Due 9/24/2029		150,000		137,178
7.550%, Due 2/15/2030		169,000		197,625

				800,249

Total Consumer, Cyclical				1,202,286

Consumer, Non-Cyclical - 0.80%
Beverages - 0.26%
PepsiCo, Inc., 4.450%, Due 5/15/2028		300,000		301,444

Commercial Services - 0.07%
Moody’s Corp., 2.550%, Due 8/18/2060		50,000		27,096
Quanta Services, Inc., 3.050%, Due 10/1/2041		70,000		50,530

				77,626

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
CORPORATE OBLIGATIONS - 12.27% (continued)
Consumer, Non-Cyclical - 0.80% (continued)
Pharmaceuticals - 0.47%
Bristol-Myers Squibb Co., 3.400%, Due 7/26/2029	$	560,000	$	530,923

Total Consumer, Non-Cyclical				909,993

Energy - 0.54%
Oil & Gas - 0.14%
BP Capital Markets PLC, 6.450%, Due 12/1/2033, (5 yr. CMT + 2.153%)^{C D}		150,000		154,800

Pipelines - 0.40%
Energy Transfer LP,
7.500%, Due 7/1/2038		90,000		104,579
5.150%, Due 3/15/2045		55,000		49,536
6.125%, Due 12/15/2045		65,000		65,539
6.000%, Due 6/15/2048		105,000		104,038
Kinder Morgan Energy Partners LP, 5.400%, Due 9/1/2044		30,000		28,066
ONEOK Partners LP, 6.850%, Due 10/15/2037		45,000		49,666
Sempra Infrastructure Partners LP, 3.250%, Due 1/15/2032^E		65,000		54,762

				456,186

Total Energy				610,986

Financial - 3.44%
Banks - 2.14%
Bank of America Corp.,
1.734%, Due 7/22/2027, (Secured Overnight Financing Rate + 0.960%)^C		350,000		328,095
2.482%, Due 9/21/2036, (5 yr. CMT + 1.200%)^C		130,000		106,208
6.110%, Due 1/29/2037		176,000		189,025
Citigroup, Inc.,
1.281%, Due 11/3/2025, (Secured Overnight Financing Rate + 0.528%)^C		40,000		39,550
3.400%, Due 5/1/2026		350,000		340,887
5.875%, Due 1/30/2042		145,000		152,658
Fifth Third Bank NA, 2.250%, Due 2/1/2027		250,000		233,644
JPMorgan Chase & Co.,
1.561%, Due 12/10/2025, (Secured Overnight Financing Rate + 0.605%)^C		35,000		34,507
5.500%, Due 10/15/2040		313,000		323,133
Morgan Stanley,
0.864%, Due 10/21/2025, Series I, (Secured Overnight Financing Rate + 0.745%)^C		90,000		89,035
2.484%, Due 9/16/2036, (Secured Overnight Financing Rate + 1.360%)^C		60,000		48,504
PNC Financial Services Group, Inc., 2.550%, Due 1/22/2030		500,000		446,664
State Street Corp., 2.354%, Due 11/1/2025, (Secured Overnight Financing Rate + 0.940%)^C		100,000		99,240

				2,431,150

Insurance - 1.00%
Berkshire Hathaway Finance Corp., 2.300%, Due 3/15/2027		300,000		284,235
Fidelity National Financial, Inc., 3.200%, Due 9/17/2051		55,000		34,793
Markel Group, Inc.,
5.000%, Due 5/20/2049		100,000		89,552
3.450%, Due 5/7/2052		125,000		85,025
MetLife, Inc.,
6.375%, Due 6/15/2034		169,000		185,828
4.721%, Due 12/15/2044		193,000		174,001
Prudential Financial, Inc., 4.600%, Due 5/15/2044		313,000		281,427

				1,134,861

REITS - 0.30%
Alexandria Real Estate Equities, Inc., 3.550%, Due 3/15/2052		50,000		34,497

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
CORPORATE OBLIGATIONS - 12.27% (continued)
Financial - 3.44% (continued)
REITS - 0.30% (continued)
Simon Property Group LP, 3.375%, Due 10/1/2024	$	313,000	$	311,812

				346,309

Total Financial				3,912,320

Industrial - 1.23%
Aerospace/Defense - 0.20%
RTX Corp., 6.125%, Due 7/15/2038		217,000		233,132

Machinery - Construction & Mining - 0.31%
Caterpillar Financial Services Corp., 4.900%, Due 1/17/2025		350,000		349,495

Machinery - Diversified - 0.39%
John Deere Capital Corp., 2.450%, Due 1/9/2030		500,000		449,985

Transportation - 0.33%
Burlington Northern Santa Fe LLC, 5.750%, Due 5/1/2040		202,000		211,254
CSX Corp., 5.500%, Due 4/15/2041		157,000		159,629

				370,883

Total Industrial				1,403,495

Technology - 1.70%
Computers - 1.25%
Apple, Inc.,
1.400%, Due 8/5/2028		200,000		178,616
2.200%, Due 9/11/2029		300,000		270,843
Dell International LLC/EMC Corp., 3.450%, Due 12/15/2051		26,000		18,073
Hewlett Packard Enterprise Co., 6.350%, Due 10/15/2045		500,000		536,234
International Business Machines Corp., 4.250%, Due 5/15/2049		500,000		414,696

				1,418,462

Semiconductors - 0.45%
Entegris, Inc., 4.750%, Due 4/15/2029^E		70,000		67,461
NVIDIA Corp., 1.550%, Due 6/15/2028		500,000		451,539

				519,000

Total Technology				1,937,462

Utilities - 2.14%
Electric - 2.03%
Appalachian Power Co., 4.500%, Due 3/1/2049, Series Y		210,000		170,876
Arizona Public Service Co., 2.650%, Due 9/15/2050		30,000		17,973
Berkshire Hathaway Energy Co., 6.125%, Due 4/1/2036		235,000		252,352
Consolidated Edison Co. of New York, Inc., 5.500%, Due 12/1/2039, Series 09 C		169,000		170,669
Consumers Energy Co., 2.500%, Due 5/1/2060		32,000		18,308
DTE Energy Co., 1.050%, Due 6/1/2025, Series F		75,000		72,350
Duke Energy Carolinas LLC,
6.000%, Due 1/15/2038		40,000		42,735
6.050%, Due 4/15/2038		115,000		122,794

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
CORPORATE OBLIGATIONS - 12.27% (continued)
Utilities - 2.14% (continued)
Electric - 2.03% (continued)
Duke Energy Carolinas LLC, (continued)
3.200%, Due 8/15/2049	$	45,000	$	31,131
Duke Energy Corp., 5.800%, Due 6/15/2054		95,000		94,625
Duke Energy Progress LLC,
4.150%, Due 12/1/2044		75,000		61,958
4.200%, Due 8/15/2045		30,000		24,919
Duke Energy Progress NC Storm Funding LLC, 2.387%, Due 7/1/2039, Series A 2		265,000		217,511
Entergy Arkansas LLC, 3.350%, Due 6/15/2052		55,000		38,108
Entergy Corp., 2.800%, Due 6/15/2030		30,000		26,763
Entergy Louisiana LLC,
4.000%, Due 3/15/2033		47,000		43,176
5.350%, Due 3/15/2034		105,000		106,640
Florida Power & Light Co., 3.950%, Due 3/1/2048		50,000		40,565
Kentucky Utilities Co., 3.300%, Due 6/1/2050		55,000		38,378
MidAmerican Energy Co., 3.650%, Due 8/1/2048		40,000		30,683
National Rural Utilities Cooperative Finance Corp.,
1.000%, Due 10/18/2024, Series D		50,000		49,520
5.450%, Due 10/30/2025		70,000		70,397
Pacific Gas & Electric Co., 5.550%, Due 5/15/2029		40,000		40,716
PacifiCorp,
4.150%, Due 2/15/2050		125,000		97,948
5.350%, Due 12/1/2053		95,000		88,218
5.500%, Due 5/15/2054		155,000		147,140
Sempra, 3.300%, Due 4/1/2025		85,000		83,759
Vistra Operations Co. LLC, 5.125%, Due 5/13/2025^E		110,000		109,448

				2,309,660

Gas - 0.11%
National Fuel Gas Co.,
3.950%, Due 9/15/2027		50,000		48,316
2.950%, Due 3/1/2031		95,000		81,482

				129,798

Total Utilities				2,439,458

Total Corporate Obligations (Cost $14,530,755)				13,969,179

FOREIGN CORPORATE OBLIGATIONS - 4.83%
Communications - 0.83%
Internet - 0.27%
Alibaba Group Holding Ltd., 3.600%, Due 11/28/2024		313,000		311,094

Media - 0.17%
Thomson Reuters Corp., 3.850%, Due 9/29/2024		193,000		192,363

Telecommunications - 0.39%
America Movil SAB de CV, 6.375%, Due 3/1/2035		169,000		184,891
Deutsche Telekom International Finance BV, 4.875%, Due 3/6/2042^E		150,000		139,202
Rogers Communications, Inc., 4.300%, Due 2/15/2048		140,000		113,322

				437,415

Total Communications				940,872

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
FOREIGN CORPORATE OBLIGATIONS - 4.83% (continued)
Consumer, Cyclical - 0.31%
Auto Manufacturers - 0.31%
Mercedes-Benz Finance North America LLC, 5.250%, Due 11/29/2027^E	$	350,000	$	355,578

Consumer, Non-Cyclical - 1.34%
Agriculture - 0.37%
BAT Capital Corp.,
6.000%, Due 2/20/2034		35,000		36,306
4.540%, Due 8/15/2047		260,000		207,440
Reynolds American, Inc., 5.700%, Due 8/15/2035		175,000		176,146

				419,892

Beverages - 0.45%
Anheuser-Busch InBev Worldwide, Inc., 5.450%, Due 1/23/2039		500,000		517,520

Pharmaceuticals - 0.52%
Bayer U.S. Finance II LLC, 3.950%, Due 4/15/2045^E		245,000		176,703
Bayer U.S. Finance LLC,
6.125%, Due 11/21/2026^E		200,000		203,607
6.500%, Due 11/21/2033^E		200,000		209,368

				589,678

Total Consumer, Non-Cyclical				1,527,090

Energy - 0.80%
Oil & Gas - 0.36%
Saudi Arabian Oil Co., 4.375%, Due 4/16/2049^E		500,000		412,982

Pipelines - 0.44%
Enbridge, Inc.,
7.200%, Due 6/27/2054, (5 yr. CMT + 2.970%)^C		115,000		116,793
7.375%, Due 3/15/2055, (5 yr. CMT + 3.122%)^C		290,000		293,667
TransCanada PipeLines Ltd., 6.100%, Due 6/1/2040		82,000		84,872

				495,332

Total Energy				908,314

Financial - 1.06%
Banks - 0.56%
Macquarie Group Ltd., 2.871%, Due 1/14/2033, (Secured Overnight Financing Rate + 1.532%)^{C E}		125,000		105,342
Mitsubishi UFJ Financial Group, Inc., 2.193%, Due 2/25/2025		75,000		73,655
NatWest Group PLC, 3.754%, Due 11/1/2029, (5 yr. CMT + 2.100%)^C		225,000		223,699
Royal Bank of Canada, 1.200%, Due 4/27/2026		250,000		234,651

				637,347

Diversified Financial Services - 0.37%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust,
3.300%, Due 1/30/2032		165,000		144,776
3.400%, Due 10/29/2033		150,000		128,943
6.950%, Due 3/10/2055, (5 yr. CMT + 2.720%)^C		150,000		151,266

				424,985

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
FOREIGN CORPORATE OBLIGATIONS - 4.83% (continued)
Financial - 1.06% (continued)
Insurance - 0.13%
Fairfax Financial Holdings Ltd., 6.350%, Due 3/22/2054^E	$	140,000	$	143,461

Total Financial				1,205,793

Industrial - 0.27%
Aerospace/Defense - 0.27%
BAE Systems Holdings, Inc., 3.800%, Due 10/7/2024^E		313,000		311,860

Utilities - 0.22%
Electric - 0.22%
National Grid PLC, 5.809%, Due 6/12/2033		245,000		251,823

Total Foreign Corporate Obligations (Cost $5,495,352)				5,501,330

FOREIGN SOVEREIGN OBLIGATIONS - 0.59%
Israel Government International Bonds, 5.500%, Due 3/12/2034		200,000		194,486

Mexico Government International Bonds,
4.280%, Due 8/14/2041		250,000		198,197
3.771%, Due 5/24/2061		450,000		282,596

Total Foreign Sovereign Obligations (Cost $679,032)				675,279

ASSET-BACKED OBLIGATIONS - 1.04%
Ally Auto Receivables Trust, 3.310%, Due 11/15/2026, 2022 1 A3		62,938		62,325
AmeriCredit Automobile Receivables Trust,
5.840%, Due 10/19/2026, 2023 1 A2A		45,139		45,149
4.380%, Due 4/18/2028, 2022 2 A3		75,338		74,909
BMW Vehicle Owner Trust, 3.210%, Due 8/25/2026, 2022 A A3		31,407		31,053
CNH Equipment Trust,
0.400%, Due 12/15/2025, 2021 A A3		12,234		12,145
5.420%, Due 10/15/2027, 2024 B A2A		45,000		45,127
Ford Credit Auto Owner Trust, 1.530%, Due 5/15/2034, 2021 2 A^E		110,000		102,194
GM Financial Automobile Leasing Trust, 4.010%, Due 9/22/2025, 2022 3 A3		17,635		17,607
GM Financial Revolving Receivables Trust, 1.170%, Due 6/12/2034, 2021 1 A^E		90,000		83,320
Honda Auto Receivables Owner Trust,
1.880%, Due 5/15/2026, 2022 1 A3		67,997		66,746
4.930%, Due 11/15/2027, 2023 2 A3		100,000		99,919
John Deere Owner Trust,
2.320%, Due 9/15/2026, 2022 A A3		48,857		48,050
3.740%, Due 2/16/2027, 2022 B A3		83,928		82,960
New Economy Assets Phase 1 Sponsor LLC, 1.910%, Due 10/20/2061, 2021 1 A1^E		125,000		112,999
Taco Bell Funding LLC, 2.294%, Due 8/25/2051, 2021 1A A2II^E		98,250		86,410
Toyota Auto Loan Extended Note Trust, 1.350%, Due 5/25/2033, 2020 1A A^E		135,000		130,733
Toyota Auto Receivables Owner Trust, 1.230%, Due 6/15/2026, 2022 A A3		43,489		42,709
Volkswagen Auto Loan Enhanced Trust, 1.020%, Due 6/22/2026, 2021 1 A3		36,165		35,594

Total Asset-Backed Obligations (Cost $1,226,143)				1,179,949

COMMERCIAL MORTGAGE-BACKED OBLIGATIONS - 0.31%
BX Commercial Mortgage Trust, 6.143%, Due 9/15/2036, 2021 VOLT A, (1 mo. USD Term SOFR + 0.814%)^{C E}		140,000		137,987
Cold Storage Trust, 6.343%, Due 11/15/2037, 2020 ICE5 A, (1 mo. USD Term SOFR + 1.014%)^{C E}		113,044		112,691
NRTH Mortgage Trust, 6.970%, Due 3/15/2039, Series 2024-PARK, Class A, (1 mo. USD Term SOFR + 1.641%)^{C E}		100,000		99,563

Total Commercial Mortgage-Backed Obligations (Cost $352,794)				350,241

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 10.17%
Federal Home Loan Mortgage Corp.,
3.500%, Due 9/1/2028	$	8,196	$	7,988
3.000%, Due 11/1/2032		37,914		36,232
5.000%, Due 8/1/2033		13,824		13,963
5.500%, Due 2/1/2034		13,531		13,776
2.500%, Due 6/1/2035		59,270		54,816
2.000%, Due 3/1/2036		169,795		152,777
4.000%, Due 1/1/2041		41,165		39,662
4.500%, Due 2/1/2041		30,014		29,705
2.500%, Due 9/1/2041		135,328		118,714
3.500%, Due 5/1/2042		131,764		122,947
3.500%, Due 6/1/2042		135,966		127,038
3.000%, Due 4/1/2047		117,397		102,963
3.000%, Due 8/1/2048		109,928		97,921
2.500%, Due 7/1/2050		74,430		62,930
2.500%, Due 12/1/2050		67,601		57,697
2.500%, Due 11/1/2051		132,666		112,615
2.000%, Due 2/1/2052		121,620		98,434
2.000%, Due 3/1/2052		215,866		173,071
2.500%, Due 5/1/2052		107,452		91,059
6.000%, Due 3/1/2053		70,680		72,765
4.500%, Due 5/1/2053		103,715		99,697
6.000%, Due 7/1/2053		161,557		163,955
5.500%, Due 9/1/2053		110,712		111,792
5.500%, Due 2/1/2054		321,925		322,344
5.500%, Due 4/1/2054		306,054		306,362
6.000%, Due 4/1/2054		156,833		160,452

				2,751,675

Federal National Mortgage Association,
3.500%, Due 1/1/2028^F		7,195		7,033
5.000%, Due 3/1/2034^F		15,137		15,270
4.500%, Due 4/1/2034		25,228		25,125
3.000%, Due 10/1/2034		3,637		3,447
2.000%, Due 11/1/2035^F		118,188		106,679
2.000%, Due 12/1/2035^F		54,168		48,809
3.500%, Due 6/1/2037		76,877		73,480
5.500%, Due 6/1/2038		3,289		3,339
4.500%, Due 1/1/2040		29,764		29,366
5.000%, Due 5/1/2040		49,900		50,449
5.000%, Due 6/1/2040		37,916		38,334
4.000%, Due 9/1/2040		28,027		26,970
4.000%, Due 1/1/2041		56,771		54,631
2.500%, Due 11/1/2041		108,360		94,565
3.000%, Due 6/1/2043		263,223		237,810
3.000%, Due 8/1/2043		237,220		214,170
4.000%, Due 7/1/2045		57,445		54,852
3.500%, Due 8/1/2045		26,103		24,155
3.500%, Due 11/1/2045		256,233		237,000
3.500%, Due 1/1/2046		100,534		93,035
3.500%, Due 5/1/2046		25,993		24,009
4.000%, Due 7/1/2046		55,079		52,730
3.000%, Due 10/1/2046		20,861		18,602
3.000%, Due 11/1/2046		124,626		111,870
3.500%, Due 3/1/2047		29,348		27,071
4.500%, Due 7/1/2047		13,606		13,303
4.500%, Due 8/1/2047		24,193		23,685
3.500%, Due 9/1/2047		38,218		35,203

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 10.17% (continued)
Federal National Mortgage Association, (continued)
4.500%, Due 4/1/2048	$	10,944	$	10,632
4.500%, Due 7/1/2048^F		28,628		28,095
4.500%, Due 7/1/2048		38,265		37,359
4.500%, Due 10/1/2049		79,982		77,659
4.000%, Due 11/1/2049		154,293		146,655
2.500%, Due 8/1/2050		172,244		145,733
2.500%, Due 8/1/2050^F		151,131		128,384
3.000%, Due 8/1/2050		94,279		83,348
2.500%, Due 9/1/2050		107,453		90,915
2.500%, Due 10/1/2050^F		49,233		41,668
3.000%, Due 10/1/2050^F		101,173		89,568
2.000%, Due 3/1/2051^F		157,154		128,318
2.000%, Due 4/1/2051^F		242,911		196,505
3.000%, Due 5/1/2051^F		112,916		99,597
3.000%, Due 6/1/2051		115,009		101,078
3.500%, Due 6/1/2051^F		128,397		116,669
2.000%, Due 7/1/2051^F		251,429		203,598
3.500%, Due 7/1/2051^F		115,294		105,659
2.500%, Due 8/1/2051		235,482		198,968
3.000%, Due 11/1/2051^F		87,110		75,970
2.000%, Due 1/1/2052^F		385,620		313,317
2.500%, Due 2/1/2052		530,506		448,436
3.500%, Due 5/1/2052		149,024		134,952
4.000%, Due 6/1/2052		178,971		167,947
5.000%, Due 6/1/2052		281,244		279,755
3.000%, Due 7/1/2052^F		116,303		102,314
4.500%, Due 10/1/2052^F		172,437		166,623
5.000%, Due 12/1/2052		129,812		127,910
5.000%, Due 4/1/2053^F		90,099		89,223
4.500%, Due 6/1/2053^F		109,604		106,492
5.500%, Due 10/1/2053		205,012		205,133
5.500%, Due 1/1/2054		207,375		207,327
6.000%, Due 1/1/2054^F		231,068		235,001
5.500%, Due 2/1/2054		211,099		211,917
6.500%, Due 6/1/2054		44,887		46,310

				6,694,027

Government National Mortgage Association,
6.500%, Due 8/15/2027		4,130		4,197
6.500%, Due 11/15/2027		4,895		4,980
7.500%, Due 12/15/2028		6,133		6,276
5.500%, Due 7/15/2033		14,135		14,475
6.000%, Due 12/15/2033		19,560		20,096
5.500%, Due 2/20/2034		20,178		20,843
5.000%, Due 10/15/2039		38,351		38,885
3.500%, Due 9/15/2041		75,007		70,518
3.500%, Due 8/20/2047		14,417		13,380
3.500%, Due 10/20/2047		13,188		12,225
4.000%, Due 1/20/2048		65,750		62,736
5.000%, Due 1/20/2050		31,262		31,265
4.500%, Due 2/20/2050		28,645		28,012
5.000%, Due 2/20/2050		15,574		15,600
2.500%, Due 4/20/2050		139,515		120,027
2.500%, Due 6/20/2051		139,632		119,772
3.000%, Due 6/20/2051		60,444		53,890
2.500%, Due 7/20/2051		219,589		188,355
3.000%, Due 8/20/2051		136,927		123,424
2.500%, Due 11/20/2051		111,855		95,944
3.000%, Due 12/20/2051		269,209		239,847

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 10.17% (continued)
Government National Mortgage Association, (continued)
3.500%, Due 1/20/2052	$	98,843	$	90,748
4.000%, Due 3/20/2052		103,013		96,977
2.500%, Due 4/20/2052		63,228		54,235
4.500%, Due 9/20/2052		134,039		129,603
5.000%, Due 4/20/2053		261,470		257,806
5.500%, Due 7/20/2053		217,990		218,271

				2,132,387

Total U.S. Agency Mortgage-Backed Obligations (Cost $12,391,006)				11,578,089

U.S. GOVERNMENT AGENCY OBLIGATIONS - 0.79%
Federal Farm Credit Banks Funding Corp.,
4.375%, Due 10/24/2029		250,000		253,301
3.750%, Due 1/25/2030		300,000		294,058
Federal Home Loan Banks, 4.500%, Due 12/14/2029		350,000		356,974

Total U.S. Government Agency Obligations (Cost $905,260)				904,333

U.S. TREASURY OBLIGATIONS - 8.59%
U.S. Treasury Bonds,
6.875%, Due 8/15/2025		279,000		285,632
5.250%, Due 11/15/2028		217,000		227,706
4.750%, Due 2/15/2037		304,000		322,976
4.500%, Due 8/15/2039		241,000		247,806
2.750%, Due 8/15/2042		250,000		197,685
2.875%, Due 5/15/2049		500,000		379,668

				1,661,473

U.S. Treasury Notes,
4.250%, Due 9/30/2024		250,000		249,482
4.500%, Due 11/30/2024		900,000		897,764
1.125%, Due 1/15/2025		250,000		245,516
1.125%, Due 2/28/2025		150,000		146,667
4.250%, Due 10/15/2025		250,000		248,789
4.875%, Due 4/30/2026		280,000		282,002
2.000%, Due 11/15/2026		500,000		475,449
2.500%, Due 3/31/2027		250,000		239,590
4.125%, Due 10/31/2027		250,000		250,088
2.875%, Due 5/15/2028		200,000		191,594
2.875%, Due 8/15/2028		300,000		286,863
2.625%, Due 2/15/2029		450,000		423,914
2.875%, Due 4/30/2029		300,000		285,141
4.625%, Due 4/30/2029		545,000		559,285
2.375%, Due 5/15/2029		450,000		417,937
1.625%, Due 8/15/2029		350,000		312,443
1.750%, Due 11/15/2029		850,000		760,352
3.500%, Due 1/31/2030		350,000		340,977
4.000%, Due 2/28/2030		250,000		249,697
4.625%, Due 4/30/2031		200,000		206,992
4.125%, Due 11/15/2032		250,000		250,937
3.500%, Due 2/15/2033		250,000		239,385
4.000%, Due 2/15/2034		300,000		297,516
4.375%, Due 5/15/2034		250,000		255,391

				8,113,771

Total U.S. Treasury Obligations (Cost $10,276,449)				9,775,244

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
SHORT-TERM INVESTMENTS - 2.23% (Cost $2,542,196)
Investment Companies - 2.23%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{G H}		2,542,196	$	2,542,196

SECURITIES LENDING COLLATERAL - 0.64% (Cost $728,965)
Investment Companies - 0.64%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{G H}		728,965		728,965

TOTAL INVESTMENTS - 100.33% (Cost $96,101,625)				114,213,298
LIABILITIES, NET OF OTHER ASSETS - (0.33%)				(375,596	)

TOTAL NET ASSETS - 100.00%			$	113,837,702

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, 2024.

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, 2024.

^D	Perpetual maturity. The date shown, if any, is the next call date.

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 $3,155,671 or 2.77% of net assets. The Fund has no right to demand registration of these securities.

^F	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.

^G	The Fund is affiliated by having the same investment advisor.

^H	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.

REIT - Real Estate Investment Trust.

SOFR - Secured Overnight Financing Rate.

Long Futures Contracts Open on July 31, 2024:

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CME E-Mini Standard & Poor’s 500 Index Futures	9	September 2024	$	2,507,284	$	2,501,100	$	(6,184	)

			$	2,507,284	$	2,501,100	$	(6,184	)

Index Abbreviations:


CME		Chicago Mercantile Exchange.

See accompanying notes

American Beacon Balanced Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


Balanced Fund	Level 1			Level 2		Level 3		Total
*Assets*
Common Stocks	$	62,014,041		$	—	$	—	$	62,014,041
Foreign Common Stocks		4,994,452			—		—		4,994,452
Corporate Obligations		—			13,969,179		—		13,969,179
Foreign Corporate Obligations		—			5,501,330		—		5,501,330
Foreign Sovereign Obligations		—			675,279		—		675,279
Asset-Backed Obligations		—			1,179,949		—		1,179,949
Commercial Mortgage-Backed Obligations		—			350,241		—		350,241
U.S. Agency Mortgage-Backed Obligations		—			11,578,089		—		11,578,089
U.S. Government Agency Obligations		—			904,333		—		904,333
U.S. Treasury Obligations		—			9,775,244		—		9,775,244
Short-Term Investments		2,542,196			—		—		2,542,196
Securities Lending Collateral		728,965			—		—		728,965

Total Investments in Securities - Assets	$	70,279,654		$	43,933,644	$	—	$	114,213,298

*Financial Derivative Instruments - Liabilities*
Long Futures Contracts	$	(6,184	)	$	—	$	—	$	(6,184	)

Total Financial Derivative Instruments - Liabilities	$	(6,184	)	$	—	$	—	$	(6,184	)

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Australia - 4.57%
Foreign Common Stocks - 4.57%
HUB24 Ltd.^A		38,654	$	1,263,055
Lovisa Holdings Ltd.^{A B}		41,516		940,967
NEXTDC Ltd.^{A C}		69,064		763,649
Pro Medicus Ltd.^A		11,016		1,035,989
Telix Pharmaceuticals Ltd.^{A B C}		105,449		1,330,526
Webjet Ltd.^{A B C}		152,622		889,655

Total Foreign Common Stocks				6,223,841

Total Australia (Cost $5,318,212)				6,223,841

Belgium - 1.40%
Foreign Common Stocks - 1.40%
Deme Group NV^A		4,775		860,428
Lotus Bakeries NV^A		96		1,043,165

Total Foreign Common Stocks				1,903,593

Total Belgium (Cost $1,630,077)				1,903,593

Brazil - 1.57%
Foreign Common Stocks - 1.57%
Embraer SA^C		155,656		1,205,642
Inter & Co., Inc.		142,842		930,115

Total Foreign Common Stocks				2,135,757

Total Brazil (Cost $1,844,217)				2,135,757

Canada - 5.80%
Foreign Common Stocks - 5.80%
Alamos Gold, Inc., Class A		50,488		860,452
Aritzia, Inc.^C		28,230		926,653
AtkinsRealis Group, Inc.^B		18,095		779,553
Celestica, Inc.^{B C}		13,223		693,498
Colliers International Group, Inc.		7,457		1,004,979
goeasy Ltd.^B		7,403		1,089,498
Hudbay Minerals, Inc.		104,627		872,997
Lundin Gold, Inc.		51,309		888,194
Secure Energy Services, Inc.		89,065		786,370

Total Foreign Common Stocks				7,902,194

Total Canada (Cost $7,122,187)				7,902,194

China/Hong Kong - 1.60%
Foreign Common Stocks - 1.60%
AAC Technologies Holdings, Inc.^A		254,398		934,042
Yangzijiang Shipbuilding Holdings Ltd.^A		620,481		1,248,344

Total Foreign Common Stocks				2,182,386

Total China/Hong Kong (Cost $2,028,569)				2,182,386

Denmark - 1.75%
Foreign Common Stocks - 1.75%
NKT AS^{A C}		12,844		1,156,380
Zealand Pharma AS^{A C}		9,081		1,224,848

Total Foreign Common Stocks				2,381,228

Total Denmark (Cost $1,204,122)				2,381,228

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Finland - 1.79%
Foreign Common Stocks - 1.79%
Cargotec OYJ, Class B^A		12,937	$	659,798
Kemira OYJ^A		29,451		665,579
Konecranes OYJ^A		15,892		1,110,379

Total Foreign Common Stocks				2,435,756

Total Finland (Cost $1,953,013)				2,435,756

France - 1.47%
Foreign Common Stocks - 1.47%
ID Logistics Group SACA^{A C}		2,060		993,499
Nexans SA^A		7,824		1,012,086

Total Foreign Common Stocks				2,005,585

Total France (Cost $1,918,318)				2,005,585

Germany - 2.61%
Foreign Common Stocks - 2.61%
CTS Eventim AG & Co. KGaA^A		9,281		818,652
Ionos SE^{A C}		30,806		815,448
Nemetschek SE^A		8,364		799,252
SUSS MicroTec SE^A		16,501		1,123,244

Total Foreign Common Stocks				3,556,596

Total Germany (Cost $3,019,497)				3,556,596

India - 17.34%
Foreign Common Stocks - 17.34%
Aegis Logistics Ltd.^A		110,049		1,100,767
Bharat Forge Ltd.^A		49,102		1,021,800
CESC Ltd.^A		453,686		940,838
Dcx Systems Ltd.^{A C D}		193,730		890,480
eMudhra Ltd.^A		118,877		1,242,521
Endurance Technologies Ltd.^{A E}		31,794		987,457
Finolex Cables Ltd.^A		64,968		1,190,903
Finolex Industries Ltd.^A		271,303		1,031,485
Gabriel India Ltd.^A		173,852		1,043,194
GMR Airports Infrastructure Ltd.^{A C}		739,976		903,050
Granules India Ltd.		133,449		991,505
KEI Industries Ltd.^A		18,343		953,215
Linde India Ltd.^A		7,885		772,677
Minda Corp. Ltd.^A		161,048		955,478
MOIL Ltd.^A		167,570		987,335
NCC Ltd.^A		239,641		1,031,665
Nuvama Wealth Management Ltd.^{A C}		10,473		793,724
Phoenix Mills Ltd.^A		23,090		992,969
Solar Industries India Ltd.^A		6,658		860,007
Supreme Industries Ltd.^A		12,319		789,822
Thermax Ltd.^A		14,044		848,064
Timken India Ltd.^A		16,099		824,156
Trent Ltd.^A		15,829		1,110,367
Zomato Ltd.^{A C}		495,004		1,364,189

Total Foreign Common Stocks				23,627,668

Total India (Cost $21,049,330)				23,627,668

Israel - 2.17%
Foreign Common Stocks - 2.17%
Camtek Ltd.^B		8,679		911,295

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Israel - 2.17% (continued)
Foreign Common Stocks - 2.17% (continued)
Nova Ltd.^C		4,711	$	972,680
Wix.com Ltd.^C		6,916		1,078,378

Total Foreign Common Stocks				2,962,353

Total Israel (Cost $1,802,430)				2,962,353

Italy - 2.78%
Foreign Common Stocks - 1.95%
Buzzi SpA^A		22,371		876,943
Leonardo SpA^A		33,541		798,199
Maire SpA^A		122,917		975,285

Total Foreign Common Stocks				2,650,427

Foreign Preferred Stocks - 0.83%
Danieli & C Officine Meccaniche SpA^{A F}		39,252		1,131,224

Total Italy (Cost $2,900,104)				3,781,651

Japan - 16.31%
Foreign Common Stocks - 16.31%
Chiba Bank Ltd.^A		111,079		1,053,495
Daishi Hokuetsu Financial Group, Inc.^A		17,983		717,115
Daiwa Securities Group, Inc.^A		138,484		1,149,940
Dexerials Corp.^A		20,406		983,889
Fujitec Co. Ltd.^A		35,571		1,028,757
Furukawa Electric Co. Ltd.^A		27,364		748,058
Isetan Mitsukoshi Holdings Ltd.^A		49,883		998,206
Japan Steel Works Ltd.^A		26,704		757,345
Kawasaki Heavy Industries Ltd.^A		27,308		1,010,079
Kewpie Corp.^A		36,267		930,924
Kinden Corp.^A		47,265		1,004,827
Lifedrink Co., Inc.^A		23,809		1,112,014
Nagase & Co. Ltd.^A		49,974		1,104,981
NHK Spring Co. Ltd.^A		73,319		802,977
North Pacific Bank Ltd.^A		294,139		1,003,214
NS Solutions Corp.		20,598		462,756
Sumitomo Forestry Co. Ltd.^A		25,224		1,064,673
SWCC Corp.^A		39,320		1,181,314
Takasago Thermal Engineering Co. Ltd.^A		26,652		1,047,041
Takashimaya Co. Ltd.^{A B}		50,107		933,938
Tamron Co. Ltd.^A		44,480		1,257,585
Tosei Corp.^A		59,745		996,650
Yamaguchi Financial Group, Inc.^A		70,695		878,322

Total Foreign Common Stocks				22,228,100

Total Japan (Cost $19,441,248)				22,228,100

Malaysia - 0.65% (Cost $420,778)
Foreign Common Stocks - 0.65%
YTL Power International Bhd.^A		867,476		882,240

Netherlands - 1.50%
Foreign Common Stocks - 1.50%
Fugro NV^A		34,580		920,715

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Netherlands - 1.50% (continued)
Foreign Common Stocks - 1.50% (continued)
Van Lanschot Kempen NV^A		26,015	$	1,120,916

Total Foreign Common Stocks				2,041,631

Total Netherlands (Cost $1,868,063)				2,041,631

Norway - 1.20%
Foreign Common Stocks - 1.20%
Aker Solutions ASA^A		206,605		983,226
Frontline PLC^A		26,669		655,315

Total Foreign Common Stocks				1,638,541

Total Norway (Cost $1,784,180)				1,638,541

Poland - 1.45%
Foreign Common Stocks - 1.45%
Grupa Kety SA^A		3,961		821,133
InPost SA^{A C}		66,705		1,156,579

Total Foreign Common Stocks				1,977,712

Total Poland (Cost $1,819,224)				1,977,712

Republic of Korea - 8.71%
Foreign Common Stocks - 8.71%
Classys, Inc.^A		27,716		937,898
Cosmax, Inc.^A		7,507		846,843
Hanwha Aerospace Co. Ltd.^A		6,095		1,279,577
Hanwha Systems Co., Ltd.^A		59,164		810,573
HD Hyundai Electric Co. Ltd.^A		5,065		1,125,857
HD Korea Shipbuilding & Offshore Engineering Co., Ltd.^{A C}		7,048		1,052,564
Hyundai Rotem Co. Ltd.^A		25,487		904,501
Iljin Electric Co. Ltd.^A		60,294		994,226
IsuPetasys Co. Ltd.^A		23,295		760,257
LIG Nex1 Co. Ltd.^A		7,462		1,084,776
Samsung Heavy Industries Co., Ltd.^{A C}		121,266		1,031,667
TechWing, Inc.^A		25,708		1,046,030

Total Foreign Common Stocks				11,874,769

Total Republic of Korea (Cost $9,729,427)				11,874,769

South Africa - 1.39%
Foreign Common Stocks - 1.39%
Harmony Gold Mining Co. Ltd.^A		102,180		999,832
Truworths International Ltd.^A		179,854		893,443

Total Foreign Common Stocks				1,893,275

Total South Africa (Cost $1,909,475)				1,893,275

Sweden - 5.23%
Foreign Common Stocks - 5.23%
AAK AB^A		35,115		1,009,292
AddTech AB, Class B^A		31,086		1,000,185
Camurus AB^{A C}		13,953		882,211
Hemnet Group AB^A		24,931		921,149
Munters Group AB^{A E}		48,693		1,051,932
Saab AB, Class B^A		48,896		1,126,409

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Sweden - 5.23% (continued)
Foreign Common Stocks - 5.23% (continued)
Yubico AB^{A C}		44,978	$	1,135,194

Total Foreign Common Stocks				7,126,372

Total Sweden (Cost $6,390,984)				7,126,372

Switzerland - 3.98%
Foreign Common Stocks - 3.98%
Accelleron Industries AG^A		21,467		1,063,087
Belimo Holding AG^A		1,684		1,019,172
Comet Holding AG^A		2,439		977,941
Sulzer AG^A		8,174		1,216,477
Ypsomed Holding AG^A		2,505		1,150,300

Total Foreign Common Stocks				5,426,977

Total Switzerland (Cost $4,672,426)				5,426,977

Taiwan - 5.76%
Foreign Common Stocks - 5.76%
Bora Pharmaceuticals Co. Ltd.^A		33,608		838,679
Chang Wah Electromaterials, Inc.^A		582,780		817,484
Chroma ATE, Inc.^A		93,272		865,341
E Ink Holdings, Inc.^A		118,336		971,151
Fusheng Precision Co. Ltd.^A		93,949		820,477
Gudeng Precision Industrial Co., Ltd.^A		59,971		840,081
Jentech Precision Industrial Co. Ltd.^A		29,160		1,043,381
King Yuan Electronics Co. Ltd.^A		247,982		800,328
Unitech Printed Circuit Board Corp.^A		775,555		844,667

Total Foreign Common Stocks				7,841,589

Total Taiwan (Cost $8,290,375)				7,841,589

United Kingdom - 4.86%
Foreign Common Stocks - 4.86%
Diploma PLC^A		18,834		1,075,631
Keller Group PLC^A		52,607		1,006,823
Marks & Spencer Group PLC^A		224,018		946,733
QinetiQ Group PLC^A		183,585		1,138,765
Subsea 7 SA^A		60,705		1,167,425
Vistry Group PLC^{A C}		72,532		1,293,420

Total Foreign Common Stocks				6,628,797

Total United Kingdom (Cost $5,874,583)				6,628,797

SHORT-TERM INVESTMENTS - 4.72% (Cost $6,435,688)
Investment Companies - 4.72%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{G H}		6,435,688		6,435,688

SECURITIES LENDING COLLATERAL - 0.01% (Cost $9,312)
Investment Companies - 0.01%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{G H}		9,312		9,312

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Fair Value
TOTAL INVESTMENTS - 100.62% (Cost $120,435,839)	$	137,103,611
LIABILITIES, NET OF OTHER ASSETS - (0.62%)		(840,035	)

TOTAL NET ASSETS - 100.00%	$	136,263,576

Percentages are stated as a percent of net assets.

Security has been fair valued pursuant to the Manager’s procedures related to pricing that is not available after the close of exchange or the available price does not reflect the security’s true market value. At period end, the value of these securities amounted to $116,204,046 or 85.28% of net assets.

^B	All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2024.

^C	Non-income producing security.

^D	Value was determined using significant unobservable inputs.

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 $2,039,389 or 1.50% of net assets. The Fund has no right to demand registration of these securities.

^F	A type of Preferred Stock that has no maturity date.

^G	The Fund is affiliated by having the same investment advisor.

^H	7-day yield.

PLC - Public Limited Company.

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


EAM International Small Cap Fund	Level 1		Level 2		Level 3		Total
*Assets*
Foreign Common Stocks
Australia	$	—	$	6,223,841	$	—	$	6,223,841
Belgium		—		1,903,593		—		1,903,593
Brazil		2,135,757		—		—		2,135,757
Canada		7,902,194		—		—		7,902,194
China/Hong Kong		—		2,182,386		—		2,182,386
Denmark		—		2,381,228		—		2,381,228
Finland		—		2,435,756		—		2,435,756
France		—		2,005,585		—		2,005,585
Germany		—		3,556,596		—		3,556,596
India		991,505		22,636,163		—		23,627,668
Israel		2,962,353		—		—		2,962,353
Italy		—		2,650,427		—		2,650,427
Japan		462,756		21,765,344		—		22,228,100
Malaysia		—		882,240		—		882,240
Netherlands		—		2,041,631		—		2,041,631
Norway		—		1,638,541		—		1,638,541
Poland		—		1,977,712		—		1,977,712
Republic of Korea		—		11,874,769		—		11,874,769
South Africa		—		1,893,275		—		1,893,275
Sweden		—		7,126,372		—		7,126,372
Switzerland		—		5,426,977		—		5,426,977
Taiwan		—		7,841,589		—		7,841,589
United Kingdom		—		6,628,797		—		6,628,797
Foreign Preferred Stocks
Italy		—		1,131,224		—		1,131,224
Short-Term Investments		6,435,688		—		—		6,435,688

See accompanying notes

American Beacon EAM International Small Cap Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


Securities Lending Collateral		9,312		—		—		9,312

Total Investments in Securities - Assets	$	20,899,565	$	116,204,046	$	—	$	137,103,611

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon Garcia Hamilton Quality Bond Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Principal Amount		Fair Value
CORPORATE OBLIGATIONS - 12.22%
Communications - 3.24%
Media - 3.24%
Walt Disney Co., 3.800%, Due 3/22/2030	$	8,950,000	$	8,588,278

Financial - 5.08%
Banks - 5.08%
Bank of America Corp., 3.974%, Due 2/7/2030, (3 mo. USD Term SOFR + 1.472%)^A		2,746,000		2,638,131
Citigroup, Inc., 3.980%, Due 3/20/2030, (3 mo. USD Term SOFR + 1.600%)^A		2,585,000		2,476,054
JPMorgan Chase & Co., 2.739%, Due 10/15/2030, (3 mo. USD Term SOFR + 1.510%)^A		4,885,000		4,402,510
Wells Fargo & Co., 4.478%, Due 4/4/2031, (3 mo. USD Term SOFR + 4.032%)^A		4,030,000		3,928,144

				13,444,839

Total Financial				13,444,839

Technology - 1.60%
Computers - 1.60%
International Business Machines Corp., 3.500%, Due 5/15/2029		4,464,000		4,233,595

Utilities - 2.30%
Electric - 2.30%
Florida Power & Light Co., 5.000%, Due 8/1/2034		6,020,000		6,081,782

Total Corporate Obligations (Cost $34,184,561)				32,348,494

U.S. AGENCY MORTGAGE-BACKED OBLIGATIONS - 48.17%
Federal Home Loan Mortgage Corp.,
4.000%, Due 2/1/2039		3,760,565		3,659,017
2.500%, Due 9/1/2042		11,650,856		10,198,044
2.500%, Due 3/1/2052		12,577,266		10,579,315
2.500%, Due 4/1/2052		12,743,914		10,724,445
3.000%, Due 5/1/2052		11,322,342		9,919,272
4.000%, Due 10/1/2052		11,290,125		10,545,896
4.000%, Due 11/1/2052		11,446,495		10,691,934

				66,317,923

Federal National Mortgage Association,
3.500%, Due 10/1/2039		4,980,106		4,691,585
3.000%, Due 7/1/2040^B		6,219,855		5,720,894
3.000%, Due 8/1/2040^B		4,089,597		3,755,342
4.000%, Due 6/1/2049^B		6,548,631		6,242,714
2.500%, Due 11/1/2050		6,272,943		5,249,192
2.500%, Due 5/1/2051		10,233,295		8,550,561
3.000%, Due 5/1/2052		19,722,900		17,187,973
3.500%, Due 10/1/2052		10,854,210		9,815,819

				61,214,080

Total U.S. Agency Mortgage-Backed Obligations (Cost $130,452,814)				127,532,003

U.S. TREASURY OBLIGATIONS - 38.65%
U.S. Treasury Bonds,
3.750%, Due 8/15/2041		7,760,000		7,200,734
2.500%, Due 2/15/2045		23,500,000		17,248,633
2.500%, Due 5/15/2046		14,025,000		10,146,211

				34,595,578

U.S. Treasury Notes,
1.125%, Due 2/15/2031		5,815,000		4,862,794
1.875%, Due 2/15/2032		34,825,000		29,916,851
3.500%, Due 2/15/2033		34,415,000		32,953,707

				67,733,352

Total U.S. Treasury Obligations (Cost $105,834,037)				102,328,930

See accompanying notes

American Beacon Garcia Hamilton Quality Bond Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Fair Value
TOTAL INVESTMENTS - 99.04% (Cost $270,471,412)	$	262,209,427
OTHER ASSETS, NET OF LIABILITIES - 0.96%		2,530,720

TOTAL NET ASSETS - 100.00%	$	264,740,147

Percentages are stated as a percent of net assets.

^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 Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


Garcia Hamilton Quality Bond Fund	Level 1		Level 2		Level 3		Total
*Assets*
Corporate Obligations	$	—	$	32,348,494	$	—	$	32,348,494
U.S. Agency Mortgage-Backed Obligations		—		127,532,003		—		127,532,003
U.S. Treasury Obligations		—		102,328,930		—		102,328,930

Total Investments in Securities - Assets	$	—	$	262,209,427	$	—	$	262,209,427

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Australia - 0.46% (Cost $3,161,842)
Foreign Common Stocks - 0.46%
Rio Tinto PLC^A		46,591	$	3,016,446

Belgium - 1.09%
Foreign Common Stocks - 1.09%
Anheuser-Busch InBev SA^A		60,712		3,607,895
KBC Group NV^A		45,468		3,513,450

Total Foreign Common Stocks				7,121,345

Total Belgium (Cost $6,754,921)				7,121,345

Brazil - 0.16% (Cost $769,836)
Foreign Common Stocks - 0.16%
ERO Copper Corp.^{B C}		52,291		1,022,603

Canada - 2.38%
Foreign Common Stocks - 2.38%
Canadian Pacific Kansas City Ltd.		45,096		3,781,708
Gildan Activewear, Inc.		94,221		3,836,674
Linamar Corp.^B		69,334		3,458,540
Suncor Energy, Inc.		110,740		4,422,702

Total Foreign Common Stocks				15,499,624

Total Canada (Cost $13,504,854)				15,499,624

China/Hong Kong - 2.93%
Foreign Common Stocks - 2.93%
AIA Group Ltd.^A		288,800		1,924,804
ArcelorMittal SA^A		90,495		2,043,020
ESR Group Ltd.^{A D}		967,800		1,463,818
Link REIT^A		244,400		1,026,955
Prudential PLC^A		1,148,515		10,254,946
Techtronic Industries Co. Ltd.^A		184,000		2,380,178

Total Foreign Common Stocks				19,093,721

Total China/Hong Kong (Cost $23,405,514)				19,093,721

Denmark - 0.26% (Cost $1,777,246)
Foreign Common Stocks - 0.26%
Carlsberg AS, Class B^A		13,865		1,676,452

Finland - 0.80%
Foreign Common Stocks - 0.80%
Fortum OYJ^A		153,345		2,356,502
Nordea Bank Abp^A		244,339		2,860,972

Total Foreign Common Stocks				5,217,474

Total Finland (Cost $4,642,302)				5,217,474

France - 13.19%
Foreign Common Stocks - 13.19%
Air Liquide SA^A		36,282		6,612,456
Alstom SA^{A B C}		391,951		7,664,128
Arkema SA^A		34,633		3,125,904
AXA SA^A		69,182		2,426,405
BNP Paribas SA^A		43,336		2,968,280
Bureau Veritas SA^A		109,235		3,421,398
Capgemini SE^A		20,283		4,025,474

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
France - 13.19% (continued)
Foreign Common Stocks - 13.19% (continued)
Carrefour SA^A		111,562	$	1,663,959
Cie de Saint-Gobain SA^A		44,940		3,851,830
Danone SA^A		46,467		3,023,402
Eiffage SA^A		58,808		5,844,643
Engie SA^A		208,421		3,275,730
Kering SA^A		17,835		5,484,188
Orange SA^A		780,279		8,656,765
Pernod Ricard SA^A		18,264		2,445,995
Rexel SA^A		125,815		3,191,626
Sodexo SA^A		8,598		815,132
Teleperformance SE^A		70,374		9,002,154
Thales SA^A		18,728		2,971,436
Verallia SA^{A D}		148,393		4,354,505
Worldline SA^{A C D}		98,142		1,111,106

Total Foreign Common Stocks				85,936,516

Total France (Cost $86,084,199)				85,936,516

Germany - 8.68%
Foreign Common Stocks - 8.17%
Allianz SE^A		5,206		1,468,885
Bayerische Motoren Werke AG^A		54,289		5,038,353
Brenntag SE^A		22,475		1,600,234
Continental AG^A		112,056		6,872,402
Deutsche Telekom AG^A		156,820		4,098,279
Infineon Technologies AG^A		107,263		3,717,385
Lanxess AG^A		88,068		2,301,403
Mercedes-Benz Group AG^A		81,716		5,406,019
Merck KGaA^A		21,461		3,844,660
MTU Aero Engines AG^A		9,188		2,601,509
Rheinmetall AG^A		3,625		1,975,828
RWE AG^A		69,715		2,604,038
SAP SE^A		33,449		7,057,295
Siemens AG^A		8,626		1,581,198
Siemens Healthineers AG^{A D}		56,437		3,029,962

Total Foreign Common Stocks				53,197,450

Foreign Preferred Stocks - 0.51%
Henkel AG & Co. KGaA^{A E}		38,584		3,302,981

Total Germany (Cost $55,525,689)				56,500,431

Israel - 0.50%
Foreign Common Stocks - 0.50%
Check Point Software Technologies Ltd.^C		7,351		1,348,541
Wix.com Ltd.^C		12,178		1,898,855

Total Foreign Common Stocks				3,247,396

Total Israel (Cost $2,839,726)				3,247,396

Italy - 2.61%
Foreign Common Stocks - 2.61%
Enel SpA^A		699,154		4,986,009
Ryanair Holdings PLC, ADR		41,024		4,155,731

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Italy - 2.61% (continued)
Foreign Common Stocks - 2.61% (continued)
UniCredit SpA^A		191,101	$	7,839,376

Total Foreign Common Stocks				16,981,116

Total Italy (Cost $13,269,233)				16,981,116

Japan - 11.11%
Foreign Common Stocks - 11.11%
Asics Corp.^A		186,900		3,057,406
Bandai Namco Holdings, Inc.^A		84,100		1,786,923
FANUC Corp.^A		159,000		4,750,055
Fujitsu Ltd.^A		189,000		3,375,215
Hitachi Ltd.^A		127,800		2,762,072
Kokusai Electric Corp.^A		107,200		3,094,257
MatsukiyoCocokara & Co.^A		205,200		3,351,280
Mitsubishi Electric Corp.^A		176,100		2,956,109
Mitsui Fudosan Co., Ltd.^A		73,000		755,810
Murata Manufacturing Co. Ltd.^A		112,400		2,485,823
NEC Corp.^A		19,800		1,734,480
Nippon Sanso Holdings Corp.^A		92,500		3,031,702
Nitori Holdings Co. Ltd.^A		24,400		2,912,212
Otsuka Holdings Co. Ltd.^A		51,900		2,685,318
Renesas Electronics Corp.^A		487,533		8,613,793
Seven & i Holdings Co. Ltd.^A		261,000		3,137,028
Shimadzu Corp.^A		69,200		2,044,968
SUMCO Corp.^A		582,100		9,527,047
Suzuki Motor Corp.^A		311,300		3,616,884
Takeda Pharmaceutical Co. Ltd.^A		98,500		2,814,681
Tokyo Electron Ltd.^A		19,300		3,896,900

Total Foreign Common Stocks				72,389,963

Total Japan (Cost $64,307,048)				72,389,963

Jordan - 0.36% (Cost $2,315,050)
Foreign Common Stocks - 0.36%
Hikma Pharmaceuticals PLC^A		97,217		2,369,681

Netherlands - 4.74%
Foreign Common Stocks - 4.74%
Akzo Nobel NV^A		78,588		4,845,526
Heineken NV^A		11,854		1,051,608
ING Groep NV^A		719,718		13,049,105
Koninklijke Philips NV^{A C}		152,672		4,304,344
NN Group NV^A		152,216		7,614,403

Total Foreign Common Stocks				30,864,986

Total Netherlands (Cost $26,252,244)				30,864,986

Republic of Korea - 4.79%
Foreign Common Stocks - 4.79%
BGF retail Co. Ltd.^A		20,188		1,510,778
Hyundai Mobis Co. Ltd.^A		30,740		4,925,109
KT&G Corp.^A		107,085		7,258,281
LG Corp.^A		49,779		3,136,436
LG Uplus Corp.^A		217,651		1,588,420
Samsung Electronics Co. Ltd.^A		197,112		12,119,300

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Republic of Korea - 4.79% (continued)
Foreign Common Stocks - 4.79% (continued)
SK Hynix, Inc.^A		4,804	$	697,316

Total Foreign Common Stocks				31,235,640

Total Republic of Korea (Cost $27,545,300)				31,235,640

Singapore - 0.88%
Foreign Common Stocks - 0.88%
DBS Group Holdings Ltd.^A		133,051		3,648,153
United Overseas Bank Ltd.^A		85,500		2,065,641

Total Foreign Common Stocks				5,713,794

Total Singapore (Cost $3,743,622)				5,713,794

Spain - 0.89%
Foreign Common Stocks - 0.89%
Aena SME SA^{A D}		8,472		1,605,812
Amadeus IT Group SA^A		31,063		2,042,421
Industria de Diseno Textil SA^A		43,741		2,119,526

Total Foreign Common Stocks				5,767,759

Total Spain (Cost $4,655,461)				5,767,759

Sweden - 0.95%
Foreign Common Stocks - 0.95%
Sandvik AB^A		183,463		3,748,698
Volvo Car AB, Class B^{A B C}		855,704		2,418,667

Total Foreign Common Stocks				6,167,365

Total Sweden (Cost $7,684,681)				6,167,365

Switzerland - 2.52%
Foreign Common Stocks - 2.52%
ABB Ltd.^A		78,776		4,371,682
Adecco Group AG^A		238,693		8,131,592
Cie Financiere Richemont SA, Class A^A		18,492		2,816,609
Julius Baer Group Ltd.^A		20,688		1,126,849

Total Foreign Common Stocks				16,446,732

Total Switzerland (Cost $14,385,066)				16,446,732

United Kingdom - 21.21%
Foreign Common Stocks - 21.21%
3i Group PLC^A		90,758		3,645,223
AstraZeneca PLC^A		44,662		7,080,965
AstraZeneca PLC, ADR		15,230		1,205,454
Barclays PLC^A		4,830,255		14,442,834
Barratt Developments PLC^A		425,700		2,873,824
Berkeley Group Holdings PLC^A		21,233		1,385,097
British American Tobacco PLC^A		430,684		15,277,206
Coca-Cola Europacific Partners PLC^A		43,902		3,232,784
Compass Group PLC^A		170,922		5,260,996
Diageo PLC^A		143,013		4,454,172
JD Sports Fashion PLC^A		970,482		1,645,538
Kingfisher PLC^A		2,272,045		8,084,919
Legal & General Group PLC^A		657,150		1,957,864
National Grid PLC^A		45,782		582,000
NatWest Group PLC^A		320,091		1,510,568

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
United Kingdom - 21.21% (continued)
Foreign Common Stocks - 21.21% (continued)
Nomad Foods Ltd.		102,701	$	1,962,616
Reckitt Benckiser Group PLC^A		237,347		12,738,823
RELX PLC^A		218,012		10,280,873
Rentokil Initial PLC^A		375,064		2,286,631
Rolls-Royce Holdings PLC^{A C}		1,472,037		8,491,622
RS Group PLC^A		254,022		2,678,278
Segro PLC^A		134,828		1,589,735
Standard Chartered PLC^A		290,400		2,853,259
Taylor Wimpey PLC^A		2,504,541		5,117,380
Unilever PLC^A		105,502		6,472,048
WH Smith PLC^A		118,021		2,006,344
Whitbread PLC^A		41,353		1,543,878
WPP PLC^A		777,361		7,515,587

Total Foreign Common Stocks				138,176,518

Total United Kingdom (Cost $120,589,095)				138,176,518

United States - 14.80%
Common Stocks - 14.80%
Aon PLC, Class A		12,606		4,141,197
BP PLC^A		1,381,708		8,148,782
Chubb Ltd.		9,693		2,671,972
CNH Industrial NV		335,334		3,571,307
Constellium SE^C		56,192		1,000,780
CRH PLC		39,858		3,415,831
Experian PLC^A		57,303		2,701,833
GSK PLC^A		732,422		14,184,063
ICON PLC^C		11,803		3,876,577
Roche Holding AG^A		74,691		24,192,248
Sanofi SA^A		120,725		12,415,498
Shell PLC^A		176,308		6,432,783
Signify NV^{A D}		156,734		3,889,777
Smurfit WestRock PLC		129,516		5,807,497

Total Common Stocks				96,450,145

Total United States (Cost $95,471,298)				96,450,145

SHORT-TERM INVESTMENTS - 4.02% (Cost $26,223,620)
Investment Companies - 4.02%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{F G}		26,223,620		26,223,620

SECURITIES LENDING COLLATERAL - 0.06% (Cost $372,375)
Investment Companies - 0.06%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{F G}		372,375		372,375

TOTAL INVESTMENTS - 99.39% (Cost $605,280,222)				647,491,702
OTHER ASSETS, NET OF LIABILITIES - 0.61%				3,994,998

TOTAL NET ASSETS - 100.00%			$	651,486,700

Percentages are stated as a percent of net assets.

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)

^B	All or a portion of this security is on loan, collateralized by either cash and/or U.S. Treasuries, at July 31, 2024.

^C	Non-income producing security.

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 $15,454,980 or 2.37% of net assets. The Fund has no right to demand registration of these securities.

^E	A type of Preferred Stock that has no maturity date.

^F	7-day yield.

^G	The Fund is affiliated by having the same investment advisor.

ADR - American Depositary Receipt.

PLC - Public Limited Company.

REIT - Real Estate Investment Trusts.

Long Futures Contracts Open on July 31, 2024:

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
ICE U.S. mini MSCI EAFE Index Futures	267	September 2024	$	31,661,741	$	31,902,495	$	240,754

			$	31,661,741	$	31,902,495	$	240,754

Index Abbreviations:


ICE		Intercontinental Exchange.
MSCI EAFE		Morgan Stanley Capital International - Europe, Australasia, and Far East.

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


International Equity Fund	Level 1		Level 2		Level 3		Total
*Assets*
Foreign Common Stocks
Australia	$	—	$	3,016,446	$	—	$	3,016,446
Belgium		—		7,121,345		—		7,121,345
Brazil		1,022,603		—		—		1,022,603
Canada		15,499,624		—		—		15,499,624
China/Hong Kong		—		19,093,721		—		19,093,721
Denmark		—		1,676,452		—		1,676,452
Finland		—		5,217,474		—		5,217,474
France		—		85,936,516		—		85,936,516
Germany		—		53,197,450		—		53,197,450
Israel		3,247,396		—		—		3,247,396
Italy		4,155,731		12,825,385		—		16,981,116
Japan		—		72,389,963		—		72,389,963
Jordan		—		2,369,681		—		2,369,681
Netherlands		—		30,864,986		—		30,864,986
Republic of Korea		—		31,235,640		—		31,235,640
Singapore		—		5,713,794		—		5,713,794
Spain		—		5,767,759		—		5,767,759
Sweden		—		6,167,365		—		6,167,365
Switzerland		—		16,446,732		—		16,446,732
United Kingdom		3,168,070		135,008,448		—		138,176,518
Foreign Preferred Stocks
Germany		—		3,302,981		—		3,302,981
Common Stocks
United States		24,485,161		71,964,984		—		96,450,145

See accompanying notes

American Beacon International Equity Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


Short-Term Investments		26,223,620		—		—		26,223,620
Securities Lending Collateral		372,375		—		—		372,375

Total Investments in Securities - Assets	$	78,174,580	$	569,317,122	$	—	$	647,491,702

*Financial Derivative Instruments - Assets*
Futures Contracts	$	240,754	$	—	$	—	$	240,754

Total Financial Derivative Instruments - Assets	$	240,754	$	—	$	—	$	240,754

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16%
Communication Services - 3.92%
Entertainment - 0.69%
Electronic Arts, Inc.		113,779	$	17,173,802
Warner Bros Discovery, Inc.^A		871,500		7,538,475

				24,712,277

Interactive Media & Services - 1.14%
Alphabet, Inc., Class A		240,004		41,170,286

Media - 2.09%
Comcast Corp., Class A		1,597,377		65,923,749
Omnicom Group, Inc.		59,878		5,870,439
Paramount Global, Class B		279,600		3,193,032

				74,987,220

Total Communication Services				140,869,783

Consumer Discretionary - 6.25%
Automobile Components - 1.21%
Adient PLC^A		111,598		2,874,764
Aptiv PLC^A		492,805		34,195,739
BorgWarner, Inc.		176,600		6,235,746

				43,306,249

Automobiles - 1.00%
General Motors Co.		814,432		36,095,626

Hotels, Restaurants & Leisure - 2.71%
Aramark		617,613		21,165,597
Booking Holdings, Inc.		1,580		5,869,716
Carnival Corp.^A		1,332,762		22,203,815
Las Vegas Sands Corp.		604,058		23,962,981
Marriott International, Inc., Class A		60,769		13,812,794
Wynn Resorts Ltd.		127,300		10,542,986

				97,557,889

Specialty Retail - 1.33%
Lithia Motors, Inc.		85,078		23,509,604
Lowe’s Cos., Inc.		98,645		24,218,334

				47,727,938

Total Consumer Discretionary				224,687,702

Consumer Staples - 4.15%
Beverages - 1.05%
Keurig Dr Pepper, Inc.		664,168		22,767,679
PepsiCo, Inc.		86,951		15,013,829

				37,781,508

Consumer Staples Distribution & Retail - 0.46%
Target Corp.		108,803		16,365,059

Food Products - 1.17%
Conagra Brands, Inc.		290,600		8,810,992
Kraft Heinz Co.		162,100		5,707,541
Mondelez International, Inc., Class A		198,303		13,554,010
Nestle SA, ADR		140,089		14,147,588

				42,220,131

Household Products - 0.23%
Kimberly-Clark Corp.		60,626		8,187,542

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16% (continued)
Consumer Staples - 4.15% (continued)
Personal Products - 0.29%
Kenvue, Inc.		557,872	$	10,315,053

Tobacco - 0.95%
Philip Morris International, Inc.		296,997		34,202,175

Total Consumer Staples				149,071,468

Energy - 8.93%
Energy Equipment & Services - 1.95%
Baker Hughes Co.		340,000		13,164,800
Halliburton Co.		817,788		28,360,888
NOV, Inc.		1,094,100		22,779,162
Schlumberger NV		121,900		5,886,551

				70,191,401

Oil, Gas & Consumable Fuels - 6.98%
APA Corp.		1,218,000		37,989,420
Chevron Corp.		107,030		17,175,104
ConocoPhillips		244,091		27,142,919
EOG Resources, Inc.		77,854		9,871,887
Exxon Mobil Corp.		464,261		55,056,712
Hess Corp.		153,123		23,492,131
Marathon Oil Corp.		390,786		10,961,547
Murphy Oil Corp.		122,670		5,076,085
Ovintiv, Inc.		342,200		15,891,768
Phillips 66		173,505		25,241,507
Shell PLC, ADR		313,722		22,970,725

				250,869,805

Total Energy				321,061,206

Financials - 21.76%
Banks - 7.91%
Bank of America Corp.		216,800		8,739,208
Citigroup, Inc.		939,699		60,967,671
Citizens Financial Group, Inc.		474,753		20,257,711
First Citizens BancShares, Inc., Class A		3,506		7,319,441
JPMorgan Chase & Co.		255,406		54,350,397
M&T Bank Corp.		79,186		13,633,454
PNC Financial Services Group, Inc.		76,304		13,818,654
Truist Financial Corp.		221,800		9,912,242
U.S. Bancorp		830,442		37,270,237
Wells Fargo & Co.		977,503		58,005,028

				284,274,043

Capital Markets - 3.34%
Bank of New York Mellon Corp.		271,500		17,666,505
BlackRock, Inc.		14,986		13,135,229
Goldman Sachs Group, Inc.		22,853		11,632,862
KKR & Co., Inc.		110,628		13,657,027
Morgan Stanley		221,663		22,877,838
Nasdaq, Inc.		269,398		18,232,857
State Street Corp.		268,880		22,846,734

				120,049,052

Consumer Finance - 1.67%
American Express Co.		183,659		46,473,073
Capital One Financial Corp.		38,800		5,874,320

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16% (continued)
Financials - 21.76% (continued)
Consumer Finance - 1.67% (continued)
Discover Financial Services		52,800	$	7,602,672

				59,950,065

Financial Services - 1.92%
Corebridge Financial, Inc.		396,400		11,713,620
Fidelity National Information Services, Inc.		749,186		57,559,960

				69,273,580

Insurance - 6.92%
Allstate Corp.		135,086		23,115,916
American International Group, Inc.		603,112		47,784,564
Aon PLC, Class A		82,913		27,237,749
Chubb Ltd.		79,942		22,036,812
Hartford Financial Services Group, Inc.		212,500		23,570,500
Marsh & McLennan Cos., Inc.		128,044		28,498,753
Progressive Corp.		184,265		39,454,822
Travelers Cos., Inc.		89,797		19,435,663
Willis Towers Watson PLC		62,038		17,512,087

				248,646,866

Total Financials				782,193,606

Health Care - 14.10%
Biotechnology - 0.42%
AbbVie, Inc.		82,491		15,287,232

Health Care Equipment & Supplies - 2.36%
Abbott Laboratories		122,715		13,000,427
GE HealthCare Technologies, Inc.		253,920		21,489,250
Medtronic PLC		553,819		44,482,742
Zimmer Biomet Holdings, Inc.		52,567		5,853,335

				84,825,754

Health Care Providers & Services - 7.31%
Centene Corp.^A		211,900		16,299,348
Cigna Group		133,875		46,678,196
CVS Health Corp.		443,900		26,780,487
Elevance Health, Inc.		157,647		83,872,933
HCA Healthcare, Inc.		32,300		11,726,515
Humana, Inc.		22,400		8,100,064
Labcorp Holdings, Inc.		27,200		5,859,968
McKesson Corp.		51,206		31,595,126
UnitedHealth Group, Inc.		55,035		31,708,966

				262,621,603

Life Sciences Tools & Services - 0.66%
Avantor, Inc.^A		889,071		23,782,649

Pharmaceuticals - 3.35%
GSK PLC, ADR		137,227		5,320,291
Johnson & Johnson		162,078		25,584,012
Merck & Co., Inc.		335,057		37,904,999
Pfizer, Inc.		589,574		18,005,590
Roche Holding AG, ADR^B		88,270		3,575,818
Sanofi SA, ADR		579,193		30,007,989

				120,398,699

Total Health Care				506,915,937

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16% (continued)
Industrials - 11.86%
Aerospace & Defense - 3.37%
Boeing Co.^A		166,642	$	31,761,965
General Dynamics Corp.		106,918		31,937,476
Northrop Grumman Corp.		35,949		17,410,820
RTX Corp.		340,840		40,045,291

				121,155,552

Air Freight & Logistics - 0.68%
FedEx Corp.		81,190		24,539,678

Building Products - 0.92%
Johnson Controls International PLC		344,862		24,671,427
Trane Technologies PLC		25,603		8,558,571

				33,229,998

Commercial Services & Supplies - 0.02%
Veralto Corp.		6,527		695,517

Construction & Engineering - 0.41%
AECOM		109,210		9,895,518
Fluor Corp.^A		96,700		4,651,270

				14,546,788

Electrical Equipment - 1.20%
Eaton Corp. PLC		49,107		14,967,322
Vertiv Holdings Co.		358,048		28,178,378

				43,145,700

Ground Transportation - 1.39%
JB Hunt Transport Services, Inc.		103,365		17,897,650
Norfolk Southern Corp.		37,400		9,333,544
Union Pacific Corp.		92,590		22,844,731

				50,075,925

Industrial Conglomerates - 0.51%
Honeywell International, Inc.		88,938		18,210,056

Machinery - 2.30%
CNH Industrial NV		1,082,839		11,532,235
Cummins, Inc.		58,197		16,981,885
Illinois Tool Works, Inc.		45,914		11,353,614
Otis Worldwide Corp.		38,981		3,683,705
PACCAR, Inc.		195,491		19,287,142
Stanley Black & Decker, Inc.		134,584		14,214,762
Timken Co.		65,400		5,686,530

				82,739,873

Professional Services - 0.94%
Equifax, Inc.		42,531		11,881,885
Jacobs Solutions, Inc.		148,951		21,798,979

				33,680,864

Trading Companies & Distributors - 0.12%
WW Grainger, Inc.		4,282		4,182,700

Total Industrials				426,202,651

Information Technology - 8.19%
Communications Equipment - 1.11%
F5, Inc.^A		195,500		39,811,620

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16% (continued)
Information Technology - 8.19% (continued)
Electronic Equipment, Instruments & Components - 0.47%
Corning, Inc.		131,340	$	5,254,914
TE Connectivity Ltd.		75,800		11,698,214

				16,953,128

IT Services - 0.51%
Cognizant Technology Solutions Corp., Class A		240,649		18,212,316

Semiconductors & Semiconductor Equipment - 4.11%
Analog Devices, Inc.		105,726		24,462,882
Broadcom, Inc.		258,530		41,540,600
KLA Corp.		24,467		20,138,054
Micron Technology, Inc.		55,700		6,116,974
QUALCOMM, Inc.		205,530		37,190,654
Texas Instruments, Inc.		90,767		18,499,222

				147,948,386

Software - 1.99%
Oracle Corp.		251,216		35,032,071
Workday, Inc., Class A^A		160,600		36,475,472

				71,507,543

Total Information Technology				294,432,993

Materials - 4.11%
Chemicals - 3.34%
Air Products & Chemicals, Inc.		141,182		37,250,871
Axalta Coating Systems Ltd.^A		735,103		26,206,422
Corteva, Inc.		108,923		6,110,580
DuPont de Nemours, Inc.		293,647		24,578,254
Olin Corp.		304,200		13,874,562
PPG Industries, Inc.		53,122		6,745,431
Sherwin-Williams Co.		15,295		5,365,486

				120,131,606

Construction Materials - 0.77%
CRH PLC		324,300		27,792,510

Total Materials				147,924,116

Real Estate - 1.76%
Industrial REITs - 0.52%
Prologis, Inc.		147,805		18,630,820

Specialized REITs - 1.24%
Public Storage		68,228		20,190,030
VICI Properties, Inc.		776,553		24,275,047

				44,465,077

Total Real Estate				63,095,897

Utilities - 5.13%
Electric Utilities - 4.32%
American Electric Power Co., Inc.		52,995		5,199,869
Duke Energy Corp.		194,070		21,206,029
Entergy Corp.		321,395		37,272,178
Exelon Corp.		208,181		7,744,333
PG&E Corp.		639,190		11,665,218
Pinnacle West Capital Corp.		230,909		19,763,501
PPL Corp.		755,954		22,466,953

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 90.16% (continued)
Utilities - 5.13% (continued)
Electric Utilities - 4.32% (continued)
Southern Co.		268,210	$	22,400,899
Xcel Energy, Inc.		128,881		7,511,185

				155,230,165

Multi-Utilities - 0.81%
Dominion Energy, Inc.		544,889		29,129,766

Total Utilities				184,359,931

Total Common Stocks (Cost $2,115,076,832)				3,240,815,290

FOREIGN COMMON STOCKS - 6.28%
Communication Services - 0.54%
Wireless Telecommunication Services - 0.22%
Vodafone Group PLC, ADR		834,450		7,810,452

Media - 0.32%
WPP PLC, ADR		242,900		11,741,786

Total Communication Services				19,552,238

Consumer Discretionary - 0.57%
Automobile Components - 0.57%
Magna International, Inc.^B		457,800		20,312,586

Consumer Staples - 1.38%
Beverages - 0.56%
Anheuser-Busch InBev SA, ADR^B		146,300		8,704,850
Diageo PLC, ADR		92,313		11,516,047

				20,220,897

Household Products - 0.17%
Reckitt Benckiser Group PLC, ADR		554,162		5,984,949

Personal Products - 0.65%
Unilever PLC, ADR		383,320		23,535,848

Total Consumer Staples				49,741,694

Energy - 1.07%
Oil, Gas & Consumable Fuels - 1.07%
Cenovus Energy, Inc.		372,100		7,490,373
Enbridge, Inc.		825,786		30,900,912

				38,391,285

Total Energy				38,391,285

Financials - 0.48%
Banks - 0.48%
Bank of Nova Scotia		368,056		17,177,174

Industrials - 0.16%
Ground Transportation - 0.16%
Canadian National Railway Co.		47,884		5,542,573

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
FOREIGN COMMON STOCKS - 6.28% (continued)
Information Technology - 2.08%
Communications Equipment - 1.06%
Telefonaktiebolaget LM Ericsson, ADR^B		5,534,120	$	38,130,087

IT Services - 0.62%
Accenture PLC, Class A		67,351		22,267,587

Semiconductors & Semiconductor Equipment - 0.40%
NXP Semiconductors NV		54,736		14,404,326

Total Information Technology				74,802,000

Total Foreign Common Stocks (Cost $182,301,997)				225,519,550

SHORT-TERM INVESTMENTS - 2.14% (Cost $76,895,162)
Investment Companies - 2.14%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{C D}		76,895,162		76,895,162

SECURITIES LENDING COLLATERAL - 0.56% (Cost $20,118,318)
Investment Companies - 0.56%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{C D}		20,118,318		20,118,318

TOTAL INVESTMENTS - 99.14% (Cost $2,394,392,309)				3,563,348,320
OTHER ASSETS, NET OF LIABILITIES - 0.86%				31,015,923

TOTAL NET ASSETS - 100.00%			$	3,594,364,243

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, 2024.

^C	The Fund is affiliated by having the same investment advisor.

^D	7-day yield.

ADR - American Depositary Receipt.

PLC - Public Limited Company.

REIT - Real Estate Investment Trusts.

Long Futures Contracts Open on July 31, 2024:

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CME E-Mini Standard & Poor’s 500 Index Futures	316	September 2024	$	87,613,039	$	87,816,400	$	203,361

			$	87,613,039	$	87,816,400	$	203,361

Index Abbreviations:


CME		Chicago Mercantile Exchange.

See accompanying notes

American Beacon Large Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


Large Cap Value Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	3,240,815,290	$	—	$	—	$	3,240,815,290
Foreign Common Stocks		225,519,550		—		—		225,519,550
Short-Term Investments		76,895,162		—		—		76,895,162
Securities Lending Collateral		20,118,318		—		—		20,118,318

Total Investments in Securities - Assets	$	3,563,348,320	$	—	$	—	$	3,563,348,320

*Financial Derivative Instruments - Assets*
Futures Contracts	$	203,361	$	—	$	—	$	203,361

Total Financial Derivative Instruments - Assets	$	203,361	$	—	$	—	$	203,361

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27%
Communication Services - 2.29%
Entertainment - 0.37%
IMAX Corp.^A		231,697	$	4,888,807
Lions Gate Entertainment Corp., Class A^{A B}		725,415		6,652,055
Lions Gate Entertainment Corp., Class B^A		774,816		6,384,484

				17,925,346

Interactive Media & Services - 0.30%
IAC, Inc.^A		185,102		9,775,237
Shutterstock, Inc.^B		104,574		4,624,262

				14,399,499

Media - 1.62%
John Wiley & Sons, Inc., Class A		203,877		9,735,127
Magnite, Inc.^A		686,673		9,984,226
National CineMedia, Inc.^A		1,925,900		11,632,436
Scholastic Corp.		103,549		3,244,190
Stagwell, Inc.^A		5,526,749		36,918,683
TEGNA, Inc.		443,153		7,059,427

				78,574,089

Total Communication Services				110,898,934

Consumer Discretionary - 12.64%
Automobile Components - 2.70%
Adient PLC^A		1,638,852		42,216,827
American Axle & Manufacturing Holdings, Inc.^A		2,390,823		17,763,815
BorgWarner, Inc.		321,372		11,347,645
Gentherm, Inc.^A		519,331		28,656,685
Goodyear Tire & Rubber Co.^A		666,750		7,800,975
Lear Corp.		66,590		8,126,644
Patrick Industries, Inc.		40,194		5,147,244
Standard Motor Products, Inc.		30,828		1,009,000
Visteon Corp.^A		75,757		8,752,964

				130,821,799

Automobiles - 0.34%
Harley-Davidson, Inc.		340,100		12,753,750
Winnebago Industries, Inc.		55,404		3,463,858

				16,217,608

Broadline Retail - 0.29%
Kohl’s Corp.^B		281,237		6,091,593
Nordstrom, Inc.		337,818		7,712,385

				13,803,978

Diversified Consumer Services - 0.21%
Graham Holdings Co., Class B		8,067		6,250,715
Perdoceo Education Corp.		165,922		4,113,206

				10,363,921

Hotels, Restaurants & Leisure - 2.09%
Bloomin’ Brands, Inc.		723,977		15,094,920
Cheesecake Factory, Inc.		165,544		6,438,006
Dave & Buster’s Entertainment, Inc.^A		321,701		12,099,175
International Game Technology PLC		980,999		23,024,046
Marriott Vacations Worldwide Corp.		293,000		24,781,940
Papa John’s International, Inc.		259,916		11,496,085

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Consumer Discretionary - 12.64% (continued)
Hotels, Restaurants & Leisure - 2.09% (continued)
Travel & Leisure Co.		180,244	$	8,307,446

				101,241,618

Household Durables - 2.46%
Beazer Homes USA, Inc.^A		79,797		2,686,765
Cavco Industries, Inc.^A		13,796		5,720,098
Century Communities, Inc.		80,409		8,419,626
Dream Finders Homes, Inc., Class A^A		87,350		2,755,892
Ethan Allen Interiors, Inc.		56,624		1,747,983
Green Brick Partners, Inc.^A		113,559		8,306,841
KB Home		175,400		15,098,432
Landsea Homes Corp.^A		21,945		267,290
Legacy Housing Corp.^A		38,241		1,089,104
Lovesac Co.^A		173,559		4,748,574
M/I Homes, Inc.^A		70,160		11,704,793
Meritage Homes Corp.		37,930		7,694,859
Newell Brands, Inc.		2,526,275		21,700,702
Sonos, Inc.^A		98,204		1,325,754
Tri Pointe Homes, Inc.^A		298,817		13,521,469
Whirlpool Corp.		66,210		6,751,434
Worthington Enterprises, Inc.		111,336		5,556,780

				119,096,396

Leisure Products - 0.10%
YETI Holdings, Inc.^A		115,679		4,783,327

Specialty Retail - 3.33%
1-800-Flowers.com, Inc., Class A^A		67,770		702,097
Academy Sports & Outdoors, Inc.		182,351		9,859,719
American Eagle Outfitters, Inc.		419,670		9,253,724
Arhaus, Inc.		491,507		7,465,991
Asbury Automotive Group, Inc.^A		51,137		13,767,103
Buckle, Inc.		128,470		5,548,619
Build-A-Bear Workshop, Inc.		32,860		891,163
Caleres, Inc.		156,398		6,030,707
Foot Locker, Inc.		234,778		6,822,649
Group 1 Automotive, Inc.		36,550		13,367,066
Guess?, Inc.		135,365		3,255,528
Haverty Furniture Cos., Inc.		34,156		999,746
Lithia Motors, Inc.		25,800		7,129,314
MarineMax, Inc.^A		56,471		1,969,144
Monro, Inc.		286,974		8,844,539
ODP Corp.^A		510,115		21,552,359
OneWater Marine, Inc., Class A^{A B}		36,143		892,009
Sally Beauty Holdings, Inc.^A		261,744		2,996,969
Signet Jewelers Ltd.		112,757		9,486,246
Sonic Automotive, Inc., Class A		328,178		19,539,718
Urban Outfitters, Inc.^A		166,926		7,686,942
Victoria’s Secret & Co.^A		183,370		3,254,818

				161,316,170

Textiles, Apparel & Luxury Goods - 1.12%
Capri Holdings Ltd.^A		128,840		4,321,294
Carter’s, Inc.^B		86,583		5,242,601
Figs, Inc., Class A^A		894,259		5,812,683
G-III Apparel Group Ltd.^A		113,663		3,133,689
Levi Strauss & Co., Class A		451,485		8,275,720
Movado Group, Inc.		36,816		953,534
Oxford Industries, Inc.		35,955		3,787,140

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Consumer Discretionary - 12.64% (continued)
Textiles, Apparel & Luxury Goods - 1.12% (continued)
PVH Corp.		36,674	$	3,740,381
VF Corp.^B		1,127,758		19,126,776

				54,393,818

Total Consumer Discretionary				612,038,635

Consumer Staples - 2.03%
Beverages - 0.54%
Boston Beer Co., Inc., Class A^A		26,573		7,446,020
Primo Water Corp.		846,923		18,573,022

				26,019,042

Consumer Staples Distribution & Retail - 0.07%
Ingles Markets, Inc., Class A		32,603		2,642,473
Village Super Market, Inc., Class A		24,800		785,664

				3,428,137

Food Products - 1.19%
Darling Ingredients, Inc.^A		607,099		24,120,043
Fresh Del Monte Produce, Inc.		105,100		2,632,755
Hain Celestial Group, Inc.^A		2,317,709		17,939,068
J & J Snack Foods Corp.		73,145		12,339,561
Seneca Foods Corp., Class A^A		13,490		813,987

				57,845,414

Personal Products - 0.06%
Herbalife Ltd.^A		227,655		2,795,603

Tobacco - 0.17%
Universal Corp.		62,142		3,319,626
Vector Group Ltd.		398,200		5,088,996

				8,408,622

Total Consumer Staples				98,496,818

Energy - 7.14%
Energy Equipment & Services - 3.82%
Atlas Energy Solutions, Inc.^B		1,096,707		23,294,057
Bristow Group, Inc.^A		65,135		2,471,873
Cactus, Inc., Class A		151,862		9,585,529
Expro Group Holdings NV^A		704,643		16,361,811
Helix Energy Solutions Group, Inc.^A		385,544		4,549,419
Helmerich & Payne, Inc.		481,769		19,473,103
Liberty Energy, Inc.		788,229		19,035,730
NOV, Inc.		3,038,186		63,255,033
Patterson-UTI Energy, Inc.		2,181,285		23,972,322
Select Water Solutions, Inc.		231,312		2,734,108

				184,732,985

Oil, Gas & Consumable Fuels - 3.32%
Antero Resources Corp.^A		352,922		10,241,796
APA Corp.		153,239		4,779,524
Berry Corp.		1,575,156		10,805,570
Centrus Energy Corp., Class A^A		113,594		4,962,922
CNX Resources Corp.^A		832,251		22,029,684
Comstock Resources, Inc.^B		769,654		7,288,623
CONSOL Energy, Inc.^A		74,313		7,417,180
Crescent Energy Co., Class A		350,900		4,291,507
International Seaways, Inc.		122,985		6,887,160
Kinetik Holdings, Inc.		58,387		2,421,893

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Energy - 7.14% (continued)
Oil, Gas & Consumable Fuels - 3.32% (continued)
Magnolia Oil & Gas Corp., Class A		334,736	$	9,118,209
NextDecade Corp.^A		946,760		7,678,224
Northern Oil & Gas, Inc.		236,432		10,211,498
PBF Energy, Inc., Class A		198,984		8,108,598
Peabody Energy Corp.		295,484		6,562,700
Range Resources Corp.		97,506		3,045,112
Sitio Royalties Corp., Class A		865,482		21,074,487
Viper Energy, Inc.		201,416		8,594,421
World Kinect Corp.		182,781		5,105,073

				160,624,181

Total Energy				345,357,166

Financials - 21.82%
Banks - 12.42%
Amalgamated Financial Corp.		44,945		1,429,700
Ameris Bancorp		121,294		7,385,592
Associated Banc-Corp.		337,441		7,754,394
Atlantic Union Bankshares Corp.		131,458		5,427,901
Axos Financial, Inc.^A		109,938		8,026,573
Bank OZK		201,918		9,467,935
BankUnited, Inc.		40,938		1,576,932
Bar Harbor Bankshares		25,180		804,753
Business First Bancshares, Inc.		35,693		907,316
Byline Bancorp, Inc.		80,069		2,245,935
Cadence Bank		323,395		10,629,994
Cathay General Bancorp		130,809		5,797,455
Central Pacific Financial Corp.		13,760		358,998
Columbia Banking System, Inc.		1,702,479		44,536,851
Community Trust Bancorp, Inc.		32,591		1,653,016
CrossFirst Bankshares, Inc.^A		86,486		1,603,450
Cullen/Frost Bankers, Inc.		154,711		18,110,470
Customers Bancorp, Inc.^A		57,452		3,704,505
Eastern Bankshares, Inc.		95,032		1,581,332
Enterprise Financial Services Corp.		58,335		3,084,171
Farmers National Banc Corp.		67,397		1,052,067
FB Financial Corp.		82,067		3,831,708
First Bancshares, Inc.		54,246		1,807,477
First Busey Corp.		99,410		2,727,810
First Commonwealth Financial Corp.		187,557		3,391,031
First Financial Bancorp		166,970		4,568,299
First Hawaiian, Inc.		1,508,642		37,776,396
First Horizon Corp.		1,385,472		23,178,947
First Merchants Corp.		32,737		1,320,938
FNB Corp.		629,392		9,654,873
Fulton Financial Corp.		552,113		10,694,429
Glacier Bancorp, Inc.		637,671		28,510,270
Great Southern Bancorp, Inc.		21,286		1,332,716
Hancock Whitney Corp.		70,361		3,850,858
Heritage Financial Corp.		221,903		5,141,493
Hilltop Holdings, Inc.		300,465		9,912,340
HomeTrust Bancshares, Inc.		31,872		1,130,500
Independent Bank Corp.		40,440		2,083,684
International Bancshares Corp.		113,617		7,662,330
Live Oak Bancshares, Inc.		628,779		28,383,084
Mercantile Bank Corp.		29,293		1,416,609
Midland States Bancorp, Inc.		38,269		908,506

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Financials - 21.82% (continued)
Banks - 12.42% (continued)
National Bank Holdings Corp., Class A		498,387	$	20,872,448
NBT Bancorp, Inc.		411,980		20,195,260
Nicolet Bankshares, Inc.		13,736		1,381,292
Northwest Bancshares, Inc.		185,434		2,603,493
Old National Bancorp		542,949		10,869,839
Old Second Bancorp, Inc.		80,364		1,359,759
Origin Bancorp, Inc.		23,990		824,296
Pacific Premier Bancorp, Inc.		52,771		1,427,983
Pathward Financial, Inc.		45,751		3,090,023
Peoples Bancorp, Inc.		64,764		2,154,698
Pinnacle Financial Partners, Inc.		123,937		11,937,612
Preferred Bank		27,414		2,359,249
Prosperity Bancshares, Inc.		321,392		23,307,348
Provident Financial Services, Inc.		132,950		2,464,893
QCR Holdings, Inc.		30,666		2,344,109
Renasant Corp.		16,220		557,806
S&T Bancorp, Inc.		67,100		2,977,898
Seacoast Banking Corp. of Florida		1,104,694		30,754,681
ServisFirst Bancshares, Inc.		68,795		5,520,111
Simmons First National Corp., Class A		150,844		3,247,671
SmartFinancial, Inc.		19,530		553,480
Southern Missouri Bancorp, Inc.		20,247		1,158,128
SouthState Corp.		52,523		5,198,201
Synovus Financial Corp.		71,000		3,319,250
Texas Capital Bancshares, Inc.^A		601,167		39,737,139
Triumph Financial, Inc.^A		358,257		32,504,658
TrustCo Bank Corp.		29,813		1,061,641
Trustmark Corp.		17,750		616,458
UMB Financial Corp.		54,095		5,518,772
United Bankshares, Inc.		73,268		2,852,323
United Community Banks, Inc.		209,557		6,485,789
WaFd, Inc.		179,318		6,381,928
Webster Financial Corp.		233,701		11,596,244
WesBanco, Inc.		32,317		1,030,266
Westamerica BanCorp		47,168		2,545,185
WSFS Financial Corp.		69,857		3,946,222

				601,179,791

Capital Markets - 1.64%
Cohen & Steers, Inc.^B		80,822		6,936,144
Federated Hermes, Inc.		145,297		4,988,046
Janus Henderson Group PLC		290,449		10,813,416
Oppenheimer Holdings, Inc., Class A		19,705		1,013,231
Perella Weinberg Partners		328,791		6,214,150
StepStone Group, Inc., Class A		255,996		12,866,359
Stifel Financial Corp.		133,297		11,819,445
StoneX Group, Inc.^A		57,318		4,776,882
Victory Capital Holdings, Inc., Class A		120,497		6,312,838
Virtus Investment Partners, Inc.		10,651		2,407,126
WisdomTree, Inc.^B		927,292		11,071,867

				79,219,504

Consumer Finance - 1.30%
Bread Financial Holdings, Inc.		92,118		5,027,800
Encore Capital Group, Inc.^A		43,043		2,175,824
Enova International, Inc.^A		56,477		4,883,566
EZCORP, Inc., Class A^A		95,449		994,579
Navient Corp.		246,268		4,041,258

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Financials - 21.82% (continued)
Consumer Finance - 1.30% (continued)
Nelnet, Inc., Class A		32,094	$	3,617,315
PRA Group, Inc.^A		314,035		8,369,033
SLM Corp.		1,486,980		33,739,576

				62,848,951

Financial Services - 3.02%
Acacia Research Corp.^A		179,111		958,244
Burford Capital Ltd.		1,242,935		17,537,813
Essent Group Ltd.		271,626		17,068,978
Euronet Worldwide, Inc.^A		43,422		4,428,610
HA Sustainable Infrastructure Capital, Inc.^B		1,091,342		35,763,277
Jackson Financial, Inc., Class A		150,010		13,209,881
Merchants Bancorp		49,801		2,241,045
MGIC Investment Corp.		464,645		11,541,782
NMI Holdings, Inc., Class A^A		150,757		5,932,288
PennyMac Financial Services, Inc.		91,438		8,971,896
Radian Group, Inc.		288,511		10,703,758
Repay Holdings Corp.^A		240,168		2,310,416
Western Union Co.		185,799		2,209,150
WEX, Inc.^A		72,443		13,289,668

				146,166,806

Insurance - 3.44%
Ambac Financial Group, Inc.^A		81,606		1,076,383
Assured Guaranty Ltd.		107,327		8,840,525
Axis Capital Holdings Ltd.		153,178		11,603,234
Brighthouse Financial, Inc.^A		120,180		5,993,377
CNO Financial Group, Inc.		350,873		12,231,433
Donegal Group, Inc., Class A		49,170		724,274
Employers Holdings, Inc.		48,274		2,317,635
Enstar Group Ltd.^A		104,040		33,750,576
First American Financial Corp.		238,706		14,460,809
Genworth Financial, Inc., Class A^A		859,383		5,818,023
Global Indemnity Group LLC, Class A		335,812		10,242,266
Horace Mann Educators Corp.		650,578		22,490,481
Kemper Corp.		389,821		24,971,933
Lincoln National Corp.		49,339		1,642,989
Oscar Health, Inc., Class A^A		249,056		4,403,310
White Mountains Insurance Group Ltd.		3,344		5,972,384

				166,539,632

Total Financials				1,055,954,684

Health Care - 3.05%
Biotechnology - 0.20%
Alkermes PLC^A		350,927		9,587,326

Health Care Equipment & Supplies - 0.55%
Globus Medical, Inc., Class A^A		222,543		16,014,194
Integer Holdings Corp.^A		42,450		5,041,362
Omnicell, Inc.^A		190,045		5,551,215

				26,606,771

Health Care Providers & Services - 0.70%
Acadia Healthcare Co., Inc.^A		132,832		8,614,155
Encompass Health Corp.		111,022		10,318,385
Ensign Group, Inc.		29,090		4,094,418
ModivCare, Inc.^A		277,832		6,340,126

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Health Care - 3.05% (continued)
Health Care Providers & Services - 0.70% (continued)
R1 RCM, Inc.^A		355,367	$	4,577,127

				33,944,211

Health Care Technology - 0.33%
Evolent Health, Inc., Class A^A		556,321		12,973,406
Health Catalyst, Inc.^A		429,110		3,162,540

				16,135,946

Life Sciences Tools & Services - 0.15%
Azenta, Inc.^A		117,280		7,305,371

Pharmaceuticals - 1.12%
Biote Corp., Class A^A		63,857		506,386
Collegium Pharmaceutical, Inc.^A		75,400		2,908,178
Organon & Co.		817,557		17,871,796
Perrigo Co. PLC		1,153,739		32,616,201

				53,902,561

Total Health Care				147,482,186

Industrials - 19.25%
Aerospace & Defense - 0.68%
BWX Technologies, Inc.		204,167		20,312,575
Ducommun, Inc.^A		26,829		1,721,617
Kratos Defense & Security Solutions, Inc.^A		362,132		8,162,455
Mercury Systems, Inc.^A		77,897		2,769,238

				32,965,885

Air Freight & Logistics - 0.46%
Air Transport Services Group, Inc.^A		1,376,394		22,214,999

Building Products - 0.71%
Gibraltar Industries, Inc.^A		432,605		32,129,573
Zurn Elkay Water Solutions Corp.		73,927		2,399,671

				34,529,244

Commercial Services & Supplies - 2.05%
ACCO Brands Corp.		218,523		1,116,653
ACV Auctions, Inc., Class A^A		122,335		2,089,482
Aris Water Solutions, Inc., Class A		119,068		2,108,694
Brink’s Co.		148,520		16,335,715
CoreCivic, Inc.^A		259,253		3,613,987
Deluxe Corp.		745,471		18,174,583
Enviri Corp.^A		2,171,481		25,666,905
GEO Group, Inc.^A		280,797		4,071,556
Interface, Inc.		1,177,133		20,340,858
MillerKnoll, Inc.		112,644		3,494,217
Quad/Graphics, Inc.		481,638		2,201,086

				99,213,736

Construction & Engineering - 1.91%
Fluor Corp.^A		873,815		42,030,502
Granite Construction, Inc.		208,500		14,273,910
Matrix Service Co.^A		221,262		2,239,171
MYR Group, Inc.^A		25,062		3,520,710
Tutor Perini Corp.^A		115,825		2,882,884
Valmont Industries, Inc.		16,598		4,952,179

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Industrials - 19.25% (continued)
Construction & Engineering - 1.91% (continued)
WillScot Holdings Corp.^A		555,665	$	22,782,265

				92,681,621

Electrical Equipment - 0.79%
EnerSys		303,942		33,412,344
Sensata Technologies Holding PLC		126,686		4,939,487

				38,351,831

Ground Transportation - 1.60%
Covenant Logistics Group, Inc.		19,038		1,065,176
Ryder System, Inc.		83,493		11,702,379
Schneider National, Inc., Class B		374,494		10,077,634
U-Haul Holding Co., NVDR		418,100		26,645,513
Universal Logistics Holdings, Inc.		33,517		1,442,236
Werner Enterprises, Inc.		670,152		26,263,257

				77,196,195

Machinery - 6.31%
Allison Transmission Holdings, Inc.		103,782		9,194,047
Atmus Filtration Technologies, Inc.^A		302,500		9,329,100
Barnes Group, Inc.		439,395		17,725,194
Columbus McKinnon Corp.		416,749		15,903,142
Enerpac Tool Group Corp.		965,103		38,797,141
Enpro, Inc.		42,577		7,278,112
Flowserve Corp.		727,454		36,772,800
Greenbrier Cos., Inc.		963,688		49,157,725
Helios Technologies, Inc.		546,662		25,119,119
Hyster-Yale, Inc.		35,412		2,894,577
Kennametal, Inc.		833,498		21,787,638
Lindsay Corp.		41,445		5,221,655
Middleby Corp.^A		34,343		4,656,224
Miller Industries, Inc.		148,398		10,082,160
Proto Labs, Inc.^A		170,624		5,941,128
Standex International Corp.		102,359		19,120,661
Terex Corp.		157,573		9,968,068
Timken Co.		163,900		14,251,105
Wabash National Corp.		105,471		2,266,572

				305,466,168

Marine Transportation - 0.79%
Genco Shipping & Trading Ltd.		108,104		2,098,299
Kirby Corp.^A		292,455		35,936,870

				38,035,169

Passenger Airlines - 0.43%
Alaska Air Group, Inc.^A		292,400		10,973,772
JetBlue Airways Corp.^A		843,131		5,404,470
SkyWest, Inc.^A		55,452		4,432,833

				20,811,075

Professional Services - 1.31%
Concentrix Corp.		43,509		3,067,384
CSG Systems International, Inc.		190,636		8,929,390
Heidrick & Struggles International, Inc.		46,616		1,871,166
Hudson Global, Inc.^A		57,162		1,039,777
KBR, Inc.		221,525		14,751,350
Kelly Services, Inc., Class A		73,650		1,732,985
Korn Ferry		200,993		14,817,204

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Industrials - 19.25% (continued)
Professional Services - 1.31% (continued)
ManpowerGroup, Inc.		225,866	$	17,296,818

				63,506,074

Trading Companies & Distributors - 2.21%
Air Lease Corp.		247,170		12,264,575
BlueLinx Holdings, Inc.^A		20,372		2,456,660
Boise Cascade Co.		108,160		15,368,454
DNOW, Inc.^A		1,506,145		23,134,387
DXP Enterprises, Inc.^A		36,000		1,971,360
GMS, Inc.^A		74,415		7,160,956
H&E Equipment Services, Inc.		92,400		4,832,520
MRC Global, Inc.^A		187,569		2,715,999
MSC Industrial Direct Co., Inc., Class A		77,846		6,924,402
Rush Enterprises, Inc., Class A		212,087		10,818,558
SiteOne Landscape Supply, Inc.^A		20,728		3,040,383
WESCO International, Inc.		91,800		16,060,410

				106,748,664

Total Industrials				931,720,661

Information Technology - 8.61%
Communications Equipment - 2.64%
Calix, Inc.^A		119,596		4,918,984
Ciena Corp.^A		548,353		28,920,137
F5, Inc.^A		269,524		54,885,867
Infinera Corp.^{A B}		4,496,502		26,709,222
Lumentum Holdings, Inc.^A		108,341		5,609,897
NETGEAR, Inc.^A		73,531		1,167,672
Viavi Solutions, Inc.^A		700,072		5,628,579

				127,840,358

Electronic Equipment, Instruments & Components - 4.04%
Advanced Energy Industries, Inc.		32,362		3,765,966
Arrow Electronics, Inc.^A		317,841		39,313,753
Avnet, Inc.		228,590		12,288,998
Bel Fuse, Inc., Class B		24,403		1,812,411
Belden, Inc.		259,245		24,029,419
Benchmark Electronics, Inc.		82,389		3,943,962
Coherent Corp.^A		570,288		39,737,668
Kimball Electronics, Inc.^A		55,282		1,310,183
nLight, Inc.^A		421,340		5,085,574
Plexus Corp.^A		169,049		21,667,010
ScanSource, Inc.^A		57,993		3,018,536
TTM Technologies, Inc.^A		234,582		4,546,199
Vishay Intertechnology, Inc.		1,440,951		35,029,519

				195,549,198

IT Services - 0.14%
ASGN, Inc.^A		70,400		6,664,768

Semiconductors & Semiconductor Equipment - 1.17%
Alpha & Omega Semiconductor Ltd.^A		45,000		1,863,000
Cohu, Inc.^A		192,460		6,156,795
Diodes, Inc.^A		426,813		33,376,777
MaxLinear, Inc.^A		169,815		2,401,184
MKS Instruments, Inc.		54,551		6,867,971

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Information Technology - 8.61% (continued)
Semiconductors & Semiconductor Equipment - 1.17% (continued)
Synaptics, Inc.^A		69,214	$	6,043,766

				56,709,493

Software - 0.52%
A10 Networks, Inc.		1,207,920		15,811,673
Adeia, Inc.		247,312		2,905,916
Zuora, Inc., Class A^A		731,745		6,636,927

				25,354,516

Technology Hardware, Storage & Peripherals - 0.10%
Corsair Gaming, Inc.^A		445,123		3,654,460
Eastman Kodak Co.^A		202,600		1,177,106

				4,831,566

Total Information Technology				416,949,899

Materials - 7.24%
Chemicals - 2.27%
Ashland, Inc.		218,716		21,138,901
Avient Corp.		304,169		13,760,605
Ecovyst, Inc.^A		2,330,816		22,235,985
Koppers Holdings, Inc.		37,524		1,527,602
Olin Corp.		439,975		20,067,260
Rayonier Advanced Materials, Inc.^A		162,366		1,079,734
Scotts Miracle-Gro Co.^B		217,387		17,086,618
Stepan Co.		154,817		13,102,163

				109,998,868

Construction Materials - 0.15%
Knife River Corp.^A		91,396		7,267,810

Containers & Packaging - 0.95%
Greif, Inc., Class A		56,769		3,785,357
Sealed Air Corp.		447,696		17,034,833
Silgan Holdings, Inc.		196,356		10,098,589
Sonoco Products Co.		276,025		14,883,268

				45,802,047

Metals & Mining - 3.68%
Alcoa Corp.		161,155		5,324,561
Alpha Metallurgical Resources, Inc.		32,985		9,744,099
Arch Resources, Inc.		45,815		6,714,188
ATI, Inc.^A		555,665		37,624,077
Carpenter Technology Corp.		84,894		12,383,488
Elah Holdings, Inc.^A		3,209		96,270
Ferroglobe PLC		3,107,339		17,245,731
Kaiser Aluminum Corp.		435,115		34,239,199
Materion Corp.		264,879		31,899,378
Metallus, Inc.^A		101,093		2,266,505
MP Materials Corp.^{A B}		333,992		4,515,572
Olympic Steel, Inc.		26,154		1,325,485
Radius Recycling, Inc.		220,780		4,000,534
Ryerson Holding Corp.		10		238
SunCoke Energy, Inc.		150,493		1,760,768
Warrior Met Coal, Inc.		132,174		9,134,545

				178,274,638

Paper & Forest Products - 0.19%
Clearwater Paper Corp.^A		36,880		2,045,734

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Materials - 7.24% (continued)
Paper & Forest Products - 0.19% (continued)
Sylvamo Corp.		94,786	$	6,986,676

				9,032,410

Total Materials				350,375,773

Real Estate - 4.51%
Health Care REITs - 0.22%
CareTrust REIT, Inc.		129,961		3,503,749
Healthpeak Properties, Inc.		329,499		7,189,668

				10,693,417

Hotel & Resort REITs - 0.16%
Sunstone Hotel Investors, Inc.		727,078		7,532,528

Industrial REITs - 1.00%
Americold Realty Trust, Inc.		629,608		18,818,983
First Industrial Realty Trust, Inc.		334,551		18,306,631
STAG Industrial, Inc.		116,992		4,774,443
Terreno Realty Corp.		97,299		6,656,225

				48,556,282

Office REITs - 0.20%
Douglas Emmett, Inc.^B		315,107		5,070,072
Highwoods Properties, Inc.		150,031		4,646,460

				9,716,532

Real Estate Management & Development - 1.25%
Howard Hughes Holdings, Inc.^A		87,890		6,518,801
Jones Lang LaSalle, Inc.^A		123,300		30,935,970
Newmark Group, Inc., Class A		521,374		6,767,434
RMR Group, Inc., Class A		358,673		9,303,978
Seritage Growth Properties, Class A^{A B}		1,108,139		5,651,509
Tejon Ranch Co.^A		61,762		1,173,478

				60,351,170

Retail REITs - 0.96%
Agree Realty Corp.		458,042		31,591,157
NETSTREIT Corp.		535,251		8,815,584
Urban Edge Properties		288,242		5,851,312

				46,258,053

Specialized REITs - 0.72%
PotlatchDeltic Corp.		788,804		34,991,346

Total Real Estate				218,099,328

Utilities - 2.69%
Electric Utilities - 1.02%
IDACORP, Inc.		226,694		22,159,339
MGE Energy, Inc.		23,979		2,106,315
OGE Energy Corp.		250,100		9,696,377
PNM Resources, Inc.		190,768		7,932,134
Portland General Electric Co.		157,824		7,477,701

				49,371,866

Gas Utilities - 0.64%
Chesapeake Utilities Corp.		114,701		13,538,159
Southwest Gas Holdings, Inc.		105,038		7,789,618

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 91.27% (continued)
Utilities - 2.69% (continued)
Gas Utilities - 0.64% (continued)
Spire, Inc.		143,041	$	9,525,100

				30,852,877

Multi-Utilities - 0.74%
Avista Corp.		445,509		17,455,042
Black Hills Corp.		171,638		10,135,224
Northwestern Energy Group, Inc.		155,097		8,339,566

				35,929,832

Water Utilities - 0.29%
California Water Service Group		259,448		13,870,090

Total Utilities				130,024,665

Total Common Stocks (Cost $3,468,709,077)				4,417,398,749

FOREIGN COMMON STOCKS - 4.55%
Consumer Discretionary - 0.10%
Hotels, Restaurants & Leisure - 0.10%
Genius Sports Ltd.^A		720,739		4,922,647

Consumer Staples - 0.23%
Food Products - 0.23%
SunOpta, Inc.^A		2,061,810		10,927,593

Energy - 0.64%
Oil, Gas & Consumable Fuels - 0.64%
Baytex Energy Corp.^B		1,958,742		7,247,345
Kosmos Energy Ltd.^A		4,257,931		23,546,359

Total Energy				30,793,704

Financials - 1.93%
Banks - 1.84%
First BanCorp		151,820		3,256,539
Popular, Inc.		355,047		36,438,474
Bank of NT Butterfield & Son Ltd.		419,886		16,098,429
OFG Bancorp		737,128		33,480,354

				89,273,796

Insurance - 0.09%
SiriusPoint Ltd.^A		301,406		4,331,204

Total Financials				93,605,000

Information Technology - 1.33%
Semiconductors & Semiconductor Equipment - 0.91%
Kulicke & Soffa Industries, Inc.		244,080		11,513,253
Tower Semiconductor Ltd.^A		796,941		32,515,193

				44,028,446

Communications Equipment - 0.42%
Telefonaktiebolaget LM Ericsson, ADR^B		2,957,500		20,377,175

Total Information Technology				64,405,621

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)


	Shares		Fair Value
Materials - 0.32%
Metals & Mining - 0.25%
Alamos Gold, Inc., Class A		692,767	$	11,797,822

Chemicals - 0.07%
Arcadium Lithium PLC^A		1,116,119		3,549,259

Total Materials				15,347,081

Total Foreign Common Stocks (Cost $135,669,712)				220,001,646

SHORT-TERM INVESTMENTS - 3.84% (Cost $186,021,687)
Investment Companies - 3.84%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{C D}		186,021,687		186,021,687

SECURITIES LENDING COLLATERAL - 0.30% (Cost $14,611,627)
Investment Companies - 0.30%
American Beacon U.S. Government Money Market Select Fund, 5.21%^{C D}		14,611,627		14,611,627

TOTAL INVESTMENTS - 99.96% (Cost $3,805,012,103)				4,838,033,709
OTHER ASSETS, NET OF LIABILITIES - 0.04%				1,902,949

TOTAL NET ASSETS - 100.00%			$	4,839,936,658

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, 2024.

^C	7-day yield.

^D	The Fund is affiliated by having the same investment advisor.

ADR - American Depositary Receipt.

LLC - Limited Liability Company.

NVDR - Non Voting Depositary Receipt.

PLC - Public Limited Company.

REIT - Real Estate Investment Trusts.

Long Futures Contracts Open on July 31, 2024:

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CME E-Mini Russell 2000 Index Futures	1,741	September 2024	$	180,058,501	$	197,864,650	$	17,806,149

			$	180,058,501	$	197,864,650	$	17,806,149

Index Abbreviations:


CME		Chicago Mercantile Exchange.

See accompanying notes

American Beacon Small Cap Value Fund^SM

Schedule of Investments

July 31, 2024 (Unaudited)

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of July 31, 2024, the investments were classified as described below:


Small Cap Value Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	4,417,398,749	$	—	$	—	$	4,417,398,749
Foreign Common Stocks		220,001,646		—		—		220,001,646
Short-Term Investments		186,021,687		—		—		186,021,687
Securities Lending Collateral		14,611,627		—		—		14,611,627

Total Investments in Securities - Assets	$	4,838,033,709	$	—	$	—	$	4,838,033,709

*Financial Derivative Instruments - Assets*
Futures Contracts	$	17,806,149	$	—	$	—	$	17,806,149

Total Financial Derivative Instruments - Assets	$	17,806,149	$	—	$	—	$	17,806,149

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended July 31, 2024, there were no transfers into or out of Level 3.

See accompanying notes

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

July 31, 2024 (Unaudited)

Security Valuation and Fair Value Measurements

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

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

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

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

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

Securities may be valued at fair value, as determined in good faith and pursuant to the Manager’s procedures approved by the Board, under certain limited circumstances. For example, fair value pricing will be used for fixed-income securities and when market quotations are not readily available or reliable, as determined by the Manager, such as when (i) trading for a security is restricted or stopped; (ii) a security’s trading market is closed (other than customary closings); or (iii) a security has been de-listed from a national exchange. A security with limited market liquidity may require fair value pricing if the Manager determines that the available price does not reflect the security’s true market value. In addition, if a significant event that the Manager determines to affect the value of one or more securities held by a Fund occurs after the close of a related exchange but before the determination of a Fund’s NAV, fair value pricing may be used on the affected security or securities. Securities of small-capitalization companies

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

July 31, 2024 (Unaudited)

are also more likely to require a fair value determination using these procedures because they are more thinly traded and less liquid than the securities of larger-capitalization companies. The Funds may fair value securities as a result of significant events occurring after the close of the foreign markets in which a Fund invests as described below. In addition, the Funds may invest in illiquid securities requiring these procedures.

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

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

Valuation Inputs

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


Level 1 -		Quoted prices in active markets for identical securities.

Level 2 -		Prices determined using other significant observable inputs. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, and others.

Level 3 -		Prices determined using other significant unobservable inputs. Unobservable inputs reflect a Fund’s own assumptions about the factors market participants would use in pricing an investment.

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

Common stocks, ETFs, preferred securities, and financial derivative instruments, such as futures contracts that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

July 31, 2024 (Unaudited)

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.

With respect to a Fund’s investments that do not have readily available market quotations, the Board has designated the Adviser as its valuation designee to perform fair valuations pursuant to Rule 2a-5 under the Act (the “Valuation Designee”). If market prices are not readily available or are deemed unreliable, the Valuation Designee will use the fair value of the security or other instrument as determined in good faith under policies and procedures established by and under the supervision of the Board (“Valuation Procedures”). Market prices are considered not readily available where there is an absence of current or reliable market-based data (e.g., trade information or broker quotes), including where events occur after the close of the relevant market, but prior to the NYSE Close, that materially affect the values of a Fund’s portfolio holdings or assets. In addition, market prices are considered not readily available when, due to extraordinary circumstances, the exchanges or markets on which the securities or other instruments trade do not open for trading for the entire day and no other market prices are available. Fair value pricing is subjective in nature and the use of fair value pricing by the Valuation Designee may cause the NAV of a Fund’s shares to differ significantly from the NAV that would have been calculated using market prices at the close of the exchange on which a portfolio holding is primarily traded. There can be no assurance that a Fund could obtain the fair value assigned to an investment if a Fund were to sell the investment at approximately the time at which a Fund determines its NAV.

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 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.

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