Purchased USD / Sold BRL

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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)

Rebecca L. Harris, PRESIDENT

220 East Las Colinas Blvd., Suite 1200

Irving, Texas 75039

(Name and address of agent for service)

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

Date of fiscal year end: December 31, 2024

Date of reporting period: March 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 AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)


	Principal Amount		Fair Value
SHORT-TERM INVESTMENTS - 81.99%
U.S. Treasury Obligations - 81.99%
5.536%, Due 4/4/2024^A	$	250,000,000	$	249,891,848
5.537%, Due 4/11/2024^A		250,000,000		249,636,180
5.542%, Due 4/18/2024^A		50,000,000		49,875,717
5.522%, Due 4/25/2024^A		250,000,000		249,123,855
5.441%, Due 5/2/2024^A		225,000,000		223,977,096
5.408%, Due 5/9/2024^A		150,000,000		149,165,742
5.374%, Due 5/16/2024		175,000,000		173,856,184
5.362%, Due 6/11/2024^A		250,000,000		247,439,192
5.244%, Due 6/13/2024^A		150,000,000		148,413,618
5.237%, Due 6/20/2024^A		130,000,000		128,493,011
5.221%, Due 7/5/2024^A		200,000,000		197,262,240
5.364%, Due 7/9/2024		200,000,000		197,144,950
5.391%, Due 7/11/2024^A		55,000,000		54,206,098
5.272%, Due 7/18/2024^A		250,000,000		246,127,750
5.297%, Due 8/8/2024^A		250,000,000		245,409,975
5.292%, Due 8/15/2024^A		45,000,000		44,131,683

Total Short-Term Investments (Cost $2,854,393,022)				2,854,155,139

TOTAL INVESTMENTS - 81.99% (Cost $2,854,393,022)				2,854,155,139
OTHER ASSETS, NET OF LIABILITIES - 18.01%				626,920,530

TOTAL NET ASSETS - 100.00%			$	3,481,075,669

Percentages are stated as a percent of net assets.

^A	All or a portion represents positions held by the American Beacon Cayman Managed Futures Strategy Fund, Ltd.

Long Futures Contracts Open on March 31, 2024:

Commodity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
COMEX Copper Futures^A	1,001	May 2024	$	97,676,096	$	100,275,175	$	2,599,079
COMEX Gold 100 Troy Ounces Futures^A	1,690	June 2024		371,365,624		378,289,600		6,923,976
COMEX Silver Futures^A	835	May 2024		104,885,132		104,024,300		(860,832	)
ICE Brent Crude Oil Futures^A	1,591	April 2024		133,829,168		138,417,000		4,587,832
ICE Gas Oil Futures^A	844	May 2024		68,639,346		68,195,200		(444,146	)
LME Copper Futures^A	305	April 2024		65,074,898		67,007,280		1,932,382
LME Copper Futures^A	644	May 2024		137,572,667		142,107,294		4,534,627
LME Copper Futures^A	406	June 2024		89,056,005		89,921,997		865,992
LME Lead Futures^A	131	April 2024		7,111,843		6,654,538		(457,305	)
LME Lead Futures^A	607	May 2024		32,003,361		31,041,828		(961,533	)
LME Lead Futures^A	284	June 2024		15,320,908		14,572,892		(748,016	)
LME Nickel Futures^A	96	April 2024		9,928,894		9,559,884		(369,010	)
LME Nickel Futures^A	228	May 2024		24,138,009		22,793,821		(1,344,188	)
LME Primary Aluminum Futures^A	2,879	April 2024		163,658,126		166,040,567		2,382,441
LME Primary Aluminum Futures^A	435	May 2024		25,038,040		25,240,658		202,618
LME Zinc Futures^A	1,122	April 2024		71,353,969		67,423,224		(3,930,745	)
NYBOT CSC C Coffee Futures^A	620	May 2024		43,840,234		43,907,625		67,391
NYBOT CSC C Coffee Futures^A	59	July 2024		4,163,402		4,160,606		(2,796	)
NYBOT CSC Cocoa Futures^A	284	May 2024		14,608,672		27,735,440		13,126,768
NYMEX Light Sweet Crude Oil Futures^A	1,263	April 2024		99,497,298		105,043,710		5,546,412
NYMEX NY Harbor ULSD Futures^A	135	April 2024		15,554,130		14,870,709		(683,421	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 31, 2024 (continued):

Commodity Futures Contracts (continued)


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Futures^A	1,143	April 2024	$	128,745,552	$	130,605,124	$	1,859,572

			$	1,723,061,374	$	1,757,888,472	$	34,827,098

Currency Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CME Mexican Peso Currency Futures	16,109	June 2024	$	471,341,805	$	478,840,025	$	7,498,220
NYBOT FINEX U.S. Dollar Index Futures	3,456	June 2024		357,340,510		360,353,664		3,013,154

			$	828,682,315	$	839,193,689	$	10,511,374

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
Borsa Italiana FTSE/MIB Index Futures	774	June 2024	$	136,705,080	$	142,836,027	$	6,130,947
CME E-Mini NASDAQ 100 Index Futures	416	June 2024		152,363,039		153,712,000		1,348,961
CME E-Mini Russell 2000 Index Futures	975	June 2024		102,877,089		104,612,625		1,735,536
CME E-Mini Standard & Poor’s 500 Index Futures	1,466	June 2024		381,392,920		389,113,050		7,720,130
Eurex DAX Index Futures	473	June 2024		231,617,382		239,532,944		7,915,562
Eurex EURO STOXX 50 Index Futures	4,329	June 2024		229,010,909		235,618,715		6,607,806
Euronext CAC 40 10 Index Futures	1,439	April 2024		124,997,623		127,666,960		2,669,337
ICE FTSE 100 Index Futures	1,945	June 2024		189,981,182		196,095,918		6,114,736
ICE U.S. mini MSCI EAFE Index Futures	1,496	June 2024		175,117,458		176,311,080		1,193,622
ICE U.S. MSCI Emerging Markets EM Index Futures	1,581	June 2024		83,247,135		82,923,450		(323,685	)
KFE KOSPI 200 Index Futures	3,336	June 2024		225,947,334		233,520,000		7,572,666
Montreal Exchange S&P/TSX 60 Index Futures	974	June 2024		190,039,668		192,908,877		2,869,209
OML Stockholm OMXS30 Index Futures	4,359	April 2024		101,441,014		102,805,451		1,364,437
SFE S&P ASX Share Price Index 200 Futures	2,206	June 2024		278,643,028		285,747,013		7,103,985
SGX FTSE Taiwan Index Futures	2,288	April 2024		157,608,807		159,473,600		1,864,793
SGX Nikkei 225 Stock Index Futures	697	June 2024		91,906,885		93,283,261		1,376,376
TSE TOPIX Futures	574	June 2024		102,670,363		105,032,369		2,362,006

			$	2,955,566,916	$	3,021,193,340	$	65,626,424

Interest Rate Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
3 Month Euro Euribor Futures	3	June 2026	$	790,933	$	790,487	$	(446	)
ICE Long Gilt Futures	415	June 2024		52,112,678		52,347,788		235,110
SFE 10 Year Australian Bond Futures	926	June 2024		70,164,005		70,345,101		181,096
TSE Japanese 10 Year Bond Futures	1,070	June 2024		1,029,323,542		1,029,639,979		316,437

			$	1,152,391,158	$	1,153,123,355	$	732,197

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Short Futures Contracts Open on March 31, 2024:

Commodity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
CBOT Corn Futures^A	4,800	May 2024	$	(102,186,227	)	$	(106,080,000	)	$	(3,893,773	)
CBOT Corn Futures^A	313	July 2024		(6,918,330	)		(7,112,925	)		(194,595	)
CBOT Soybean Futures^A	1,678	May 2024		(98,180,391	)		(99,966,850	)		(1,786,459	)
CBOT Soybean Futures^A	82	July 2024		(4,935,440	)		(4,941,525	)		(6,085	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	888	October 2024		(7,795,410	)		(6,504,600	)		1,290,810
ICE U.S. - Henry Ld1 Fixed Price Futures^A	888	November 2024		(7,795,410	)		(7,641,240	)		154,170
ICE U.S. - Henry Ld1 Fixed Price Futures^A	888	December 2024		(7,795,410	)		(8,273,940	)		(478,530	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	888	January 2025		(7,795,410	)		(7,883,220	)		(87,810	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	888	February 2025		(7,795,410	)		(7,104,000	)		691,410
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	March 2025		(5,398,365	)		(5,083,520	)		314,845
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	April 2025		(5,398,365	)		(5,188,300	)		210,065
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	May 2025		(5,398,365	)		(5,477,290	)		(78,925	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	June 2025		(5,398,365	)		(5,774,730	)		(376,365	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	July 2025		(5,398,365	)		(5,845,710	)		(447,345	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	August 2025		(5,398,365	)		(5,776,420	)		(378,055	)
ICE U.S. - Henry Ld1 Fixed Price Futures^A	676	September 2025		(5,398,365	)		(5,859,230	)		(460,865	)
KCBT Hard Red Winter Wheat Futures^A	1,294	May 2024		(37,073,799	)		(37,865,675	)		(791,876	)
LME Copper Futures^A	305	April 2024		(63,827,471	)		(67,007,280	)		(3,179,809	)
LME Copper Futures^A	492	May 2024		(101,761,414	)		(108,566,442	)		(6,805,028	)
LME Lead Futures^A	131	April 2024		(6,738,686	)		(6,654,538	)		84,148
LME Lead Futures^A	607	May 2024		(31,138,502	)		(31,041,828	)		96,674
LME Lead Futures^A	1,071	June 2024		(54,764,904	)		(54,956,223	)		(191,319	)
LME Nickel Futures^A	96	April 2024		(9,364,806	)		(9,559,884	)		(195,078	)
LME Nickel Futures^A	299	May 2024		(29,113,618	)		(29,891,897	)		(778,279	)
LME Nickel Futures^A	249	June 2024		(25,312,667	)		(25,010,038	)		302,629
LME Primary Aluminum Futures^A	2,879	April 2024		(157,183,448	)		(166,040,567	)		(8,857,119	)
LME Primary Aluminum Futures^A	668	May 2024		(36,798,112	)		(38,760,366	)		(1,962,254	)
LME Primary Aluminum Futures^A	64	June 2024		(3,626,747	)		(3,735,424	)		(108,677	)
LME Zinc Futures^A	1,138	April 2024		(70,446,616	)		(68,384,696	)		2,061,920
LME Zinc Futures^A	360	May 2024		(21,754,922	)		(21,786,210	)		(31,288	)
LME Zinc Futures^A	110	May 2024		(6,582,476	)		(6,656,898	)		(74,422	)
LME Zinc Futures^A	553	June 2024		(34,051,687	)		(33,666,225	)		385,462
LME Zinc Futures^A	99	July 2024		(6,082,016	)		(6,057,340	)		24,676
NYBOT CSC Number 11 World Sugar Futures^A	1,040	April 2024		(25,073,855	)		(26,231,296	)		(1,157,441	)
NYMEX Henry Hub Natural Gas Futures^A	7,022	April 2024		(127,985,624	)		(123,797,860	)		4,187,764

			$	(1,137,667,363	)	$	(1,160,184,187	)	$	(22,516,824	)

Currency Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
CME Australian Dollar Currency Futures	5,003	June 2024	$	(327,859,593	)	$	(326,845,990	)	$	1,013,603
CME British Pound Currency Futures	4,526	June 2024		(357,269,402	)		(357,186,263	)		83,139
CME Canadian Dollar Currency Futures	5,261	June 2024		(389,335,162	)		(388,998,340	)		336,822
CME Euro Foreign Exchange Currency Futures	5,605	June 2024		(765,930,860	)		(758,181,344	)		7,749,516
CME Japanese Yen Currency Futures	11,159	June 2024		(954,415,839	)		(932,543,681	)		21,872,158
CME New Zealand Dollar Currency Futures	1,822	June 2024		(109,739,968	)		(108,864,500	)		875,468
CME Swiss Franc Currency Futures	1,135	June 2024		(161,685,952	)		(158,644,625	)		3,041,327

			$	(3,066,236,776	)	$	(3,031,264,743	)	$	34,972,033

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
HKG Hang Seng China Enterprises Index Futures	1,068	April 2024	$	(39,703,823	)	$	(39,666,739	)	$	37,084
HKG Hang Seng Index Futures	523	April 2024		(55,655,526	)		(55,361,062	)		294,464
SAFEX FTSE/JSE Top 40 Index Futures	2,540	June 2024		(89,434,823	)		(92,436,420	)		(3,001,597	)

			$	(184,794,172	)	$	(187,464,221	)	$	(2,670,049	)

Interest Rate Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
3 Month Euro Euribor Futures	3,474	December 2024	$	(911,173,862	)	$	(908,637,461	)	$	2,536,401
3 Month Euro Euribor Futures	2,572	March 2025		(674,317,967	)		(674,380,929	)		(62,962	)
3 Month Euro Euribor Futures	1,223	September 2025		(321,532,955	)		(321,743,842	)		(210,887	)
CBOT 2 Year U.S. Treasury Notes Futures	3,413	June 2024		(698,410,484	)		(697,905,175	)		505,309
CBOT 5 Year U.S. Treasury Notes Futures	3,274	June 2024		(349,612,770	)		(350,369,156	)		(756,386	)
CBOT 10 Year U.S. Treasury Notes Futures	2,746	June 2024		(302,679,088	)		(304,248,219	)		(1,569,131	)
CBOT U.S. Long Bond Futures	773	June 2024		(91,698,204	)		(93,098,188	)		(1,399,984	)
CBOT Ultra Long Term U.S. Treasury Bond Futures	515	June 2024		(65,358,241	)		(66,435,000	)		(1,076,759	)
Eurex 2 Year Euro SCHATZ Futures	6,113	June 2024		(696,891,858	)		(697,092,500	)		(200,642	)
Eurex 5 Year Euro BOBL Futures	2,857	June 2024		(362,768,604	)		(364,478,921	)		(1,710,317	)
Eurex 10 Year Euro BUND Futures	579	June 2024		(82,485,756	)		(83,316,363	)		(830,607	)
Eurex 30 Year Euro BUXL Futures	62	June 2024		(8,860,898	)		(9,083,485	)		(222,587	)
SFE 3 Year Australian Bond Futures	2,600	June 2024		(180,333,134	)		(181,143,604	)		(810,470	)
Three Month SONIA Index Futures	3,175	March 2025		(958,149,403	)		(957,800,890	)		348,513
Three Month SONIA Index Futures	228	September 2025		(69,010,277	)		(69,108,001	)		(97,724	)
Three Month SONIA Index Futures	379	December 2025		(114,803,884	)		(115,056,279	)		(252,395	)
Three-Month SOFR Futures	115	December 2024		(27,379,487	)		(27,351,313	)		28,174
Three-Month SOFR Futures	4,557	March 2025		(1,090,560,254	)		(1,087,186,275	)		3,373,979
Three-Month SOFR Futures	1,006	September 2025		(241,981,709	)		(241,276,525	)		705,184
Three-Month SOFR Futures	708	December 2025		(170,143,920	)		(170,132,400	)		11,520
Three-Month SOFR Futures	1,246	September 2026		(299,908,631	)		(300,208,125	)		(299,494	)

			$	(7,718,061,386	)	$	(7,720,052,651	)	$	(1,991,265	)

^A	All or a portion represents positions held by the American Beacon Cayman Managed Futures Strategy Fund, Ltd.

Forward Foreign Currency Contracts Open on March 31, 2024:


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
TWD	234,349	USD	238,520	4/1/2024	CBK	$	—	$	(4,171	)	$	(4,171	)
TWD	312,466	USD	317,995	4/1/2024	CBK		—		(5,529	)		(5,529	)
TWD	781,165	USD	794,862	4/1/2024	CBK		—		(13,697	)		(13,697	)
TWD	11,951,818	USD	12,080,842	4/1/2024	CBK		—		(129,024	)		(129,024	)
USD	1,604,312	TWD	1,562,329	4/1/2024	CBK		41,983		—			41,983
USD	1,524,342	TWD	1,484,213	4/1/2024	CBK		40,129		—			40,129
USD	867,437	TWD	859,281	4/1/2024	CBK		8,156		—			8,156
USD	715,027	TWD	703,048	4/1/2024	CBK		11,979		—			11,979
USD	555,175	TWD	546,815	4/1/2024	CBK		8,360		—			8,360
USD	476,611	TWD	468,699	4/1/2024	CBK		7,912		—			7,912
USD	475,789	TWD	468,699	4/1/2024	CBK		7,090		—			7,090
USD	476,061	TWD	468,699	4/1/2024	CBK		7,362		—			7,362
USD	397,362	TWD	390,582	4/1/2024	CBK		6,780		—			6,780
USD	396,655	TWD	390,582	4/1/2024	CBK		6,073		—			6,073
USD	397,369	TWD	390,582	4/1/2024	CBK		6,787		—			6,787

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	397,150	TWD	390,582	4/1/2024	CBK	$	6,568	$	—		$	6,568
USD	319,499	TWD	312,466	4/1/2024	CBK		7,033		—			7,033
USD	319,509	TWD	312,466	4/1/2024	CBK		7,043		—			7,043
USD	319,554	TWD	312,466	4/1/2024	CBK		7,088		—			7,088
USD	319,530	TWD	312,466	4/1/2024	CBK		7,064		—			7,064
USD	316,881	TWD	312,466	4/1/2024	CBK		4,415		—			4,415
USD	317,031	TWD	312,466	4/1/2024	CBK		4,565		—			4,565
USD	317,098	TWD	312,466	4/1/2024	CBK		4,632		—			4,632
USD	237,417	TWD	234,349	4/1/2024	CBK		3,068		—			3,068
USD	239,578	TWD	234,349	4/1/2024	CBK		5,229		—			5,229
USD	239,655	TWD	234,349	4/1/2024	CBK		5,306		—			5,306
USD	238,633	TWD	234,349	4/1/2024	CBK		4,284		—			4,284
USD	238,731	TWD	234,349	4/1/2024	CBK		4,382		—			4,382
USD	158,983	TWD	156,233	4/1/2024	CBK		2,750		—			2,750
USD	159,811	TWD	156,233	4/1/2024	CBK		3,578		—			3,578
USD	159,744	TWD	156,233	4/1/2024	CBK		3,511		—			3,511
USD	159,170	TWD	156,233	4/1/2024	CBK		2,937		—			2,937
USD	159,135	TWD	156,233	4/1/2024	CBK		2,902		—			2,902
USD	159,132	TWD	156,233	4/1/2024	CBK		2,899		—			2,899
USD	158,813	TWD	156,233	4/1/2024	CBK		2,580		—			2,580
USD	158,740	TWD	156,233	4/1/2024	CBK		2,507		—			2,507
USD	158,942	TWD	156,233	4/1/2024	CBK		2,709		—			2,709
USD	79,299	TWD	78,116	4/1/2024	CBK		1,183		—			1,183
USD	79,319	TWD	78,116	4/1/2024	CBK		1,203		—			1,203
USD	79,370	TWD	78,116	4/1/2024	CBK		1,254		—			1,254
USD	79,418	TWD	78,116	4/1/2024	CBK		1,302		—			1,302
USD	79,883	TWD	78,116	4/1/2024	CBK		1,767		—			1,767
INR	29,974	USD	30,109	4/4/2024	CBK		—		(135	)		(135	)
INR	29,974	USD	30,103	4/4/2024	CBK		—		(129	)		(129	)
INR	29,974	USD	30,108	4/4/2024	CBK		—		(134	)		(134	)
INR	29,974	USD	30,108	4/4/2024	CBK		—		(134	)		(134	)
INR	29,974	USD	30,108	4/4/2024	CBK		—		(134	)		(134	)
INR	29,974	USD	30,130	4/4/2024	CBK		—		(156	)		(156	)
INR	29,974	USD	30,128	4/4/2024	CBK		—		(154	)		(154	)
INR	29,974	USD	30,178	4/4/2024	CBK		—		(204	)		(204	)
INR	29,974	USD	30,181	4/4/2024	CBK		—		(207	)		(207	)
INR	29,974	USD	30,179	4/4/2024	CBK		—		(205	)		(205	)
INR	29,974	USD	30,103	4/4/2024	CBK		—		(129	)		(129	)
INR	29,974	USD	30,094	4/4/2024	CBK		—		(120	)		(120	)
INR	29,974	USD	30,098	4/4/2024	CBK		—		(124	)		(124	)
INR	29,974	USD	30,095	4/4/2024	CBK		—		(121	)		(121	)
INR	29,974	USD	30,096	4/4/2024	CBK		—		(122	)		(122	)
INR	29,974	USD	30,107	4/4/2024	CBK		—		(133	)		(133	)
INR	29,974	USD	30,112	4/4/2024	CBK		—		(138	)		(138	)
INR	29,974	USD	30,113	4/4/2024	CBK		—		(139	)		(139	)
INR	29,974	USD	30,114	4/4/2024	CBK		—		(140	)		(140	)
INR	29,974	USD	30,115	4/4/2024	CBK		—		(141	)		(141	)
INR	29,974	USD	30,178	4/4/2024	CBK		—		(204	)		(204	)
INR	29,974	USD	30,176	4/4/2024	CBK		—		(202	)		(202	)
INR	29,974	USD	30,097	4/4/2024	CBK		—		(123	)		(123	)
INR	29,974	USD	30,178	4/4/2024	CBK		—		(204	)		(204	)
INR	29,974	USD	30,119	4/4/2024	CBK		—		(145	)		(145	)
INR	29,974	USD	30,108	4/4/2024	CBK		—		(134	)		(134	)
INR	29,974	USD	30,106	4/4/2024	CBK		—		(132	)		(132	)
INR	29,974	USD	30,113	4/4/2024	CBK		—		(139	)		(139	)
INR	59,949	USD	60,235	4/4/2024	CBK		—		(286	)		(286	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
INR	59,949	USD	60,212	4/4/2024	CBK	$	—	$	(263	)	$	(263	)
INR	59,949	USD	60,214	4/4/2024	CBK		—		(265	)		(265	)
INR	59,949	USD	60,219	4/4/2024	CBK		—		(270	)		(270	)
INR	59,949	USD	60,219	4/4/2024	CBK		—		(270	)		(270	)
INR	59,949	USD	60,213	4/4/2024	CBK		—		(264	)		(264	)
INR	59,949	USD	60,270	4/4/2024	CBK		—		(321	)		(321	)
INR	59,949	USD	60,251	4/4/2024	CBK		—		(302	)		(302	)
INR	59,949	USD	60,252	4/4/2024	CBK		—		(303	)		(303	)
INR	59,949	USD	60,257	4/4/2024	CBK		—		(308	)		(308	)
INR	59,949	USD	60,363	4/4/2024	CBK		—		(414	)		(414	)
INR	59,949	USD	60,363	4/4/2024	CBK		—		(414	)		(414	)
INR	59,949	USD	60,370	4/4/2024	CBK		—		(421	)		(421	)
INR	59,949	USD	60,371	4/4/2024	CBK		—		(422	)		(422	)
INR	59,949	USD	60,371	4/4/2024	CBK		—		(422	)		(422	)
INR	59,949	USD	60,374	4/4/2024	CBK		—		(425	)		(425	)
INR	59,949	USD	60,370	4/4/2024	CBK		—		(421	)		(421	)
INR	59,949	USD	60,350	4/4/2024	CBK		—		(401	)		(401	)
INR	59,949	USD	60,350	4/4/2024	CBK		—		(401	)		(401	)
INR	59,949	USD	60,355	4/4/2024	CBK		—		(406	)		(406	)
INR	59,949	USD	60,429	4/4/2024	CBK		—		(480	)		(480	)
INR	59,949	USD	60,434	4/4/2024	CBK		—		(485	)		(485	)
INR	59,949	USD	60,386	4/4/2024	CBK		—		(437	)		(437	)
INR	59,949	USD	60,190	4/4/2024	CBK		—		(241	)		(241	)
INR	59,949	USD	60,217	4/4/2024	CBK		—		(268	)		(268	)
INR	59,949	USD	60,225	4/4/2024	CBK		—		(276	)		(276	)
INR	59,949	USD	60,220	4/4/2024	CBK		—		(271	)		(271	)
INR	59,949	USD	60,224	4/4/2024	CBK		—		(275	)		(275	)
INR	59,949	USD	60,215	4/4/2024	CBK		—		(266	)		(266	)
INR	59,949	USD	60,192	4/4/2024	CBK		—		(243	)		(243	)
INR	59,949	USD	60,227	4/4/2024	CBK		—		(278	)		(278	)
INR	59,949	USD	60,350	4/4/2024	CBK		—		(401	)		(401	)
INR	59,949	USD	60,355	4/4/2024	CBK		—		(406	)		(406	)
INR	59,949	USD	60,356	4/4/2024	CBK		—		(407	)		(407	)
INR	59,949	USD	60,347	4/4/2024	CBK		—		(398	)		(398	)
INR	59,949	USD	60,192	4/4/2024	CBK		—		(243	)		(243	)
INR	59,949	USD	60,190	4/4/2024	CBK		—		(241	)		(241	)
INR	59,949	USD	60,239	4/4/2024	CBK		—		(290	)		(290	)
INR	59,949	USD	60,232	4/4/2024	CBK		—		(283	)		(283	)
INR	89,923	USD	90,326	4/4/2024	CBK		—		(403	)		(403	)
INR	89,923	USD	90,325	4/4/2024	CBK		—		(402	)		(402	)
INR	89,923	USD	90,325	4/4/2024	CBK		—		(402	)		(402	)
INR	89,923	USD	90,327	4/4/2024	CBK		—		(404	)		(404	)
INR	89,923	USD	90,322	4/4/2024	CBK		—		(399	)		(399	)
INR	89,923	USD	90,315	4/4/2024	CBK		—		(392	)		(392	)
INR	89,923	USD	90,372	4/4/2024	CBK		—		(449	)		(449	)
INR	89,923	USD	90,398	4/4/2024	CBK		—		(475	)		(475	)
INR	89,923	USD	90,544	4/4/2024	CBK		—		(621	)		(621	)
INR	89,923	USD	90,528	4/4/2024	CBK		—		(605	)		(605	)
INR	89,923	USD	90,560	4/4/2024	CBK		—		(637	)		(637	)
INR	89,923	USD	90,549	4/4/2024	CBK		—		(626	)		(626	)
INR	89,923	USD	90,553	4/4/2024	CBK		—		(630	)		(630	)
INR	89,923	USD	90,552	4/4/2024	CBK		—		(629	)		(629	)
INR	89,923	USD	90,536	4/4/2024	CBK		—		(613	)		(613	)
INR	89,923	USD	90,545	4/4/2024	CBK		—		(622	)		(622	)
INR	89,923	USD	90,536	4/4/2024	CBK		—		(613	)		(613	)
INR	89,923	USD	90,640	4/4/2024	CBK		—		(717	)		(717	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
INR	89,923	USD	90,568	4/4/2024	CBK	$	—	$	(645	)	$	(645	)
INR	89,923	USD	90,639	4/4/2024	CBK		—		(716	)		(716	)
INR	89,923	USD	90,646	4/4/2024	CBK		—		(723	)		(723	)
INR	89,923	USD	90,642	4/4/2024	CBK		—		(719	)		(719	)
INR	89,923	USD	90,586	4/4/2024	CBK		—		(663	)		(663	)
INR	89,923	USD	90,558	4/4/2024	CBK		—		(635	)		(635	)
INR	89,923	USD	90,295	4/4/2024	CBK		—		(372	)		(372	)
INR	89,923	USD	90,339	4/4/2024	CBK		—		(416	)		(416	)
INR	89,923	USD	90,332	4/4/2024	CBK		—		(409	)		(409	)
INR	89,923	USD	90,343	4/4/2024	CBK		—		(420	)		(420	)
INR	89,923	USD	90,337	4/4/2024	CBK		—		(414	)		(414	)
INR	89,923	USD	90,318	4/4/2024	CBK		—		(395	)		(395	)
INR	89,923	USD	90,540	4/4/2024	CBK		—		(617	)		(617	)
INR	89,923	USD	90,327	4/4/2024	CBK		—		(404	)		(404	)
INR	119,897	USD	120,463	4/4/2024	CBK		—		(566	)		(566	)
INR	119,897	USD	120,428	4/4/2024	CBK		—		(531	)		(531	)
INR	119,897	USD	120,424	4/4/2024	CBK		—		(527	)		(527	)
INR	119,897	USD	120,413	4/4/2024	CBK		—		(516	)		(516	)
INR	119,897	USD	120,424	4/4/2024	CBK		—		(527	)		(527	)
INR	119,897	USD	120,438	4/4/2024	CBK		—		(541	)		(541	)
INR	119,897	USD	120,423	4/4/2024	CBK		—		(526	)		(526	)
INR	119,897	USD	120,429	4/4/2024	CBK		—		(532	)		(532	)
INR	119,897	USD	120,522	4/4/2024	CBK		—		(625	)		(625	)
INR	119,897	USD	120,521	4/4/2024	CBK		—		(624	)		(624	)
INR	119,897	USD	120,739	4/4/2024	CBK		—		(842	)		(842	)
INR	119,897	USD	120,707	4/4/2024	CBK		—		(810	)		(810	)
INR	119,897	USD	120,740	4/4/2024	CBK		—		(843	)		(843	)
INR	119,897	USD	120,740	4/4/2024	CBK		—		(843	)		(843	)
INR	119,897	USD	120,743	4/4/2024	CBK		—		(846	)		(846	)
INR	119,897	USD	120,711	4/4/2024	CBK		—		(814	)		(814	)
INR	119,897	USD	120,714	4/4/2024	CBK		—		(817	)		(817	)
INR	119,897	USD	120,717	4/4/2024	CBK		—		(820	)		(820	)
INR	119,897	USD	120,736	4/4/2024	CBK		—		(839	)		(839	)
INR	119,897	USD	120,727	4/4/2024	CBK		—		(830	)		(830	)
INR	119,897	USD	120,730	4/4/2024	CBK		—		(833	)		(833	)
INR	119,897	USD	120,726	4/4/2024	CBK		—		(829	)		(829	)
INR	119,897	USD	120,694	4/4/2024	CBK		—		(797	)		(797	)
INR	119,897	USD	120,861	4/4/2024	CBK		—		(964	)		(964	)
INR	119,897	USD	120,859	4/4/2024	CBK		—		(962	)		(962	)
INR	119,897	USD	120,800	4/4/2024	CBK		—		(903	)		(903	)
INR	119,897	USD	120,845	4/4/2024	CBK		—		(948	)		(948	)
INR	119,897	USD	120,795	4/4/2024	CBK		—		(898	)		(898	)
INR	119,897	USD	120,771	4/4/2024	CBK		—		(874	)		(874	)
INR	119,897	USD	120,770	4/4/2024	CBK		—		(873	)		(873	)
INR	119,897	USD	120,456	4/4/2024	CBK		—		(559	)		(559	)
INR	119,897	USD	120,062	4/4/2024	CBK		—		(165	)		(165	)
INR	119,897	USD	120,429	4/4/2024	CBK		—		(532	)		(532	)
INR	119,897	USD	120,424	4/4/2024	CBK		—		(527	)		(527	)
INR	119,897	USD	120,451	4/4/2024	CBK		—		(554	)		(554	)
INR	119,897	USD	120,469	4/4/2024	CBK		—		(572	)		(572	)
INR	119,897	USD	120,468	4/4/2024	CBK		—		(571	)		(571	)
INR	149,872	USD	150,585	4/4/2024	CBK		—		(713	)		(713	)
INR	149,872	USD	150,579	4/4/2024	CBK		—		(707	)		(707	)
INR	149,872	USD	150,587	4/4/2024	CBK		—		(715	)		(715	)
INR	149,872	USD	150,546	4/4/2024	CBK		—		(674	)		(674	)
INR	149,872	USD	150,934	4/4/2024	CBK		—		(1,062	)		(1,062	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
INR	149,872	USD	150,935	4/4/2024	CBK	$	—	$	(1,063	)	$	(1,063	)
INR	149,872	USD	150,879	4/4/2024	CBK		—		(1,007	)		(1,007	)
INR	149,872	USD	150,904	4/4/2024	CBK		—		(1,032	)		(1,032	)
INR	149,872	USD	150,926	4/4/2024	CBK		—		(1,054	)		(1,054	)
INR	149,872	USD	150,916	4/4/2024	CBK		—		(1,044	)		(1,044	)
INR	149,872	USD	150,927	4/4/2024	CBK		—		(1,055	)		(1,055	)
INR	149,872	USD	150,925	4/4/2024	CBK		—		(1,053	)		(1,053	)
INR	149,872	USD	150,930	4/4/2024	CBK		—		(1,058	)		(1,058	)
INR	149,872	USD	150,934	4/4/2024	CBK		—		(1,062	)		(1,062	)
INR	149,872	USD	150,914	4/4/2024	CBK		—		(1,042	)		(1,042	)
INR	149,872	USD	150,921	4/4/2024	CBK		—		(1,049	)		(1,049	)
INR	149,872	USD	150,888	4/4/2024	CBK		—		(1,016	)		(1,016	)
INR	149,872	USD	151,072	4/4/2024	CBK		—		(1,200	)		(1,200	)
INR	149,872	USD	150,958	4/4/2024	CBK		—		(1,086	)		(1,086	)
INR	149,872	USD	151,089	4/4/2024	CBK		—		(1,217	)		(1,217	)
INR	149,872	USD	151,066	4/4/2024	CBK		—		(1,194	)		(1,194	)
INR	149,872	USD	150,961	4/4/2024	CBK		—		(1,089	)		(1,089	)
INR	149,872	USD	151,069	4/4/2024	CBK		—		(1,197	)		(1,197	)
INR	149,872	USD	150,990	4/4/2024	CBK		—		(1,118	)		(1,118	)
INR	149,872	USD	150,554	4/4/2024	CBK		—		(682	)		(682	)
INR	149,872	USD	150,575	4/4/2024	CBK		—		(703	)		(703	)
INR	149,872	USD	150,475	4/4/2024	CBK		—		(603	)		(603	)
INR	149,872	USD	150,088	4/4/2024	CBK		—		(216	)		(216	)
INR	149,872	USD	150,907	4/4/2024	CBK		—		(1,035	)		(1,035	)
INR	149,872	USD	150,908	4/4/2024	CBK		—		(1,036	)		(1,036	)
INR	149,872	USD	150,590	4/4/2024	CBK		—		(718	)		(718	)
INR	149,872	USD	150,575	4/4/2024	CBK		—		(703	)		(703	)
INR	179,846	USD	180,685	4/4/2024	CBK		—		(839	)		(839	)
INR	179,846	USD	181,105	4/4/2024	CBK		—		(1,259	)		(1,259	)
INR	179,846	USD	181,052	4/4/2024	CBK		—		(1,206	)		(1,206	)
INR	179,846	USD	181,157	4/4/2024	CBK		—		(1,311	)		(1,311	)
INR	179,846	USD	181,155	4/4/2024	CBK		—		(1,309	)		(1,309	)
INR	179,846	USD	181,182	4/4/2024	CBK		—		(1,336	)		(1,336	)
INR	179,846	USD	180,579	4/4/2024	CBK		—		(733	)		(733	)
INR	179,846	USD	180,657	4/4/2024	CBK		—		(811	)		(811	)
INR	179,846	USD	180,661	4/4/2024	CBK		—		(815	)		(815	)
INR	179,846	USD	180,676	4/4/2024	CBK		—		(830	)		(830	)
INR	179,846	USD	180,600	4/4/2024	CBK		—		(754	)		(754	)
INR	179,846	USD	180,693	4/4/2024	CBK		—		(847	)		(847	)
INR	179,846	USD	180,685	4/4/2024	CBK		—		(839	)		(839	)
INR	209,820	USD	210,916	4/4/2024	CBK		—		(1,096	)		(1,096	)
INR	209,820	USD	211,310	4/4/2024	CBK		—		(1,490	)		(1,490	)
INR	209,820	USD	211,340	4/4/2024	CBK		—		(1,520	)		(1,520	)
INR	209,820	USD	211,317	4/4/2024	CBK		—		(1,497	)		(1,497	)
INR	209,820	USD	210,785	4/4/2024	CBK		—		(965	)		(965	)
INR	209,820	USD	210,698	4/4/2024	CBK		—		(878	)		(878	)
INR	209,820	USD	210,164	4/4/2024	CBK		—		(344	)		(344	)
INR	239,795	USD	241,499	4/4/2024	CBK		—		(1,704	)		(1,704	)
INR	239,795	USD	240,746	4/4/2024	CBK		—		(951	)		(951	)
INR	239,795	USD	240,800	4/4/2024	CBK		—		(1,005	)		(1,005	)
INR	239,795	USD	240,760	4/4/2024	CBK		—		(965	)		(965	)
INR	269,769	USD	271,090	4/4/2024	CBK		—		(1,321	)		(1,321	)
INR	269,769	USD	271,664	4/4/2024	CBK		—		(1,895	)		(1,895	)
INR	299,743	USD	301,819	4/4/2024	CBK		—		(2,076	)		(2,076	)
INR	299,743	USD	300,933	4/4/2024	CBK		—		(1,190	)		(1,190	)
INR	299,743	USD	300,170	4/4/2024	CBK		—		(427	)		(427	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
INR	299,743	USD	300,120	4/4/2024	CBK	$	—	$	(377	)	$	(377	)
INR	329,718	USD	331,098	4/4/2024	CBK		—		(1,380	)		(1,380	)
INR	359,692	USD	361,150	4/4/2024	CBK		—		(1,458	)		(1,458	)
INR	359,692	USD	361,109	4/4/2024	CBK		—		(1,417	)		(1,417	)
INR	389,667	USD	391,238	4/4/2024	CBK		—		(1,571	)		(1,571	)
INR	419,641	USD	421,355	4/4/2024	CBK		—		(1,714	)		(1,714	)
INR	449,615	USD	451,484	4/4/2024	CBK		—		(1,869	)		(1,869	)
INR	479,590	USD	481,520	4/4/2024	CBK		—		(1,930	)		(1,930	)
INR	599,487	USD	602,069	4/4/2024	CBK		—		(2,582	)		(2,582	)
INR	689,410	USD	692,271	4/4/2024	CBK		—		(2,861	)		(2,861	)
INR	809,307	USD	812,731	4/4/2024	CBK		—		(3,424	)		(3,424	)
INR	929,205	USD	933,010	4/4/2024	CBK		—		(3,805	)		(3,805	)
INR	929,205	USD	933,174	4/4/2024	CBK		—		(3,969	)		(3,969	)
INR	929,205	USD	932,847	4/4/2024	CBK		—		(3,642	)		(3,642	)
INR	1,468,743	USD	1,475,482	4/4/2024	CBK		—		(6,739	)		(6,739	)
INR	1,888,384	USD	1,904,274	4/4/2024	CBK		—		(15,890	)		(15,890	)
INR	2,637,743	USD	2,656,094	4/4/2024	CBK		—		(18,351	)		(18,351	)
INR	5,305,460	USD	5,349,471	4/4/2024	CBK		—		(44,011	)		(44,011	)
USD	2,177,929	INR	2,170,441	4/4/2024	CBK		7,488		—			7,488
USD	2,085,342	INR	2,078,510	4/4/2024	CBK		6,832		—			6,832
USD	2,048,541	INR	2,038,256	4/4/2024	CBK		10,285		—			10,285
USD	2,004,607	INR	1,998,001	4/4/2024	CBK		6,606		—			6,606
USD	1,857,141	INR	1,850,674	4/4/2024	CBK		6,467		—			6,467
USD	1,852,495	INR	1,846,122	4/4/2024	CBK		6,373		—			6,373
USD	1,632,073	INR	1,626,350	4/4/2024	CBK		5,723		—			5,723
USD	1,325,588	INR	1,318,871	4/4/2024	CBK		6,717		—			6,717
USD	1,326,111	INR	1,318,871	4/4/2024	CBK		7,240		—			7,240
USD	1,114,697	INR	1,109,051	4/4/2024	CBK		5,646		—			5,646
USD	1,054,703	INR	1,049,102	4/4/2024	CBK		5,601		—			5,601
USD	1,024,322	INR	1,019,128	4/4/2024	CBK		5,194		—			5,194
USD	1,024,899	INR	1,019,128	4/4/2024	CBK		5,771		—			5,771
USD	934,699	INR	929,205	4/4/2024	CBK		5,494		—			5,494
USD	874,273	INR	869,256	4/4/2024	CBK		5,017		—			5,017
USD	783,822	INR	779,333	4/4/2024	CBK		4,489		—			4,489
USD	753,575	INR	749,359	4/4/2024	CBK		4,216		—			4,216
USD	753,705	INR	749,359	4/4/2024	CBK		4,346		—			4,346
USD	723,385	INR	719,384	4/4/2024	CBK		4,001		—			4,001
USD	693,523	INR	689,410	4/4/2024	CBK		4,113		—			4,113
USD	693,247	INR	689,410	4/4/2024	CBK		3,837		—			3,837
USD	480,839	INR	479,590	4/4/2024	CBK		1,249		—			1,249
USD	452,407	INR	449,615	4/4/2024	CBK		2,792		—			2,792
USD	452,351	INR	449,615	4/4/2024	CBK		2,736		—			2,736
USD	420,891	INR	419,641	4/4/2024	CBK		1,250		—			1,250
USD	420,860	INR	419,641	4/4/2024	CBK		1,219		—			1,219
USD	420,805	INR	419,641	4/4/2024	CBK		1,164		—			1,164
USD	420,734	INR	419,641	4/4/2024	CBK		1,093		—			1,093
USD	420,878	INR	419,641	4/4/2024	CBK		1,237		—			1,237
USD	390,799	INR	389,667	4/4/2024	CBK		1,132		—			1,132
USD	360,629	INR	359,692	4/4/2024	CBK		937		—			937
USD	360,865	INR	359,692	4/4/2024	CBK		1,173		—			1,173
USD	330,648	INR	329,718	4/4/2024	CBK		930		—			930
USD	330,717	INR	329,718	4/4/2024	CBK		999		—			999
USD	331,078	INR	329,718	4/4/2024	CBK		1,360		—			1,360
USD	331,073	INR	329,718	4/4/2024	CBK		1,355		—			1,355
USD	301,002	INR	299,744	4/4/2024	CBK		1,258		—			1,258
USD	300,882	INR	299,744	4/4/2024	CBK		1,138		—			1,138

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)		Net Unrealized Appreciation (Depreciation)
USD	301,587	INR	299,744	4/4/2024	CBK	$	1,843	$	—	$	1,843
USD	270,704	INR	269,769	4/4/2024	CBK		935		—		935
USD	270,988	INR	269,769	4/4/2024	CBK		1,219		—		1,219
USD	240,428	INR	239,795	4/4/2024	CBK		633		—		633
USD	240,892	INR	239,795	4/4/2024	CBK		1,097		—		1,097
USD	210,619	INR	209,820	4/4/2024	CBK		799		—		799
USD	210,620	INR	209,820	4/4/2024	CBK		800		—		800
USD	210,645	INR	209,820	4/4/2024	CBK		825		—		825
USD	180,475	INR	179,846	4/4/2024	CBK		629		—		629
USD	180,589	INR	179,846	4/4/2024	CBK		743		—		743
USD	180,440	INR	179,846	4/4/2024	CBK		594		—		594
USD	180,653	INR	179,846	4/4/2024	CBK		807		—		807
USD	180,653	INR	179,846	4/4/2024	CBK		807		—		807
USD	180,655	INR	179,846	4/4/2024	CBK		809		—		809
USD	180,634	INR	179,846	4/4/2024	CBK		788		—		788
USD	180,599	INR	179,846	4/4/2024	CBK		753		—		753
USD	180,912	INR	179,846	4/4/2024	CBK		1,066		—		1,066
USD	150,490	INR	149,872	4/4/2024	CBK		618		—		618
USD	150,324	INR	149,872	4/4/2024	CBK		452		—		452
USD	150,451	INR	149,872	4/4/2024	CBK		579		—		579
USD	150,351	INR	149,872	4/4/2024	CBK		479		—		479
USD	150,548	INR	149,872	4/4/2024	CBK		676		—		676
USD	120,396	INR	119,897	4/4/2024	CBK		499		—		499
USD	120,340	INR	119,897	4/4/2024	CBK		443		—		443
USD	120,438	INR	119,897	4/4/2024	CBK		541		—		541
USD	120,432	INR	119,897	4/4/2024	CBK		535		—		535
USD	120,408	INR	119,897	4/4/2024	CBK		511		—		511
USD	120,437	INR	119,897	4/4/2024	CBK		540		—		540
USD	120,437	INR	119,897	4/4/2024	CBK		540		—		540
USD	120,419	INR	119,897	4/4/2024	CBK		522		—		522
USD	120,456	INR	119,897	4/4/2024	CBK		559		—		559
USD	120,450	INR	119,897	4/4/2024	CBK		553		—		553
USD	120,621	INR	119,897	4/4/2024	CBK		724		—		724
USD	90,229	INR	89,923	4/4/2024	CBK		306		—		306
USD	90,241	INR	89,923	4/4/2024	CBK		318		—		318
USD	90,260	INR	89,923	4/4/2024	CBK		337		—		337
USD	90,327	INR	89,923	4/4/2024	CBK		404		—		404
USD	90,339	INR	89,923	4/4/2024	CBK		416		—		416
USD	90,316	INR	89,923	4/4/2024	CBK		393		—		393
USD	90,320	INR	89,923	4/4/2024	CBK		397		—		397
USD	90,330	INR	89,923	4/4/2024	CBK		407		—		407
USD	90,320	INR	89,923	4/4/2024	CBK		397		—		397
USD	90,316	INR	89,923	4/4/2024	CBK		393		—		393
USD	90,326	INR	89,923	4/4/2024	CBK		403		—		403
USD	90,345	INR	89,923	4/4/2024	CBK		422		—		422
USD	90,331	INR	89,923	4/4/2024	CBK		408		—		408
USD	90,344	INR	89,923	4/4/2024	CBK		421		—		421
USD	90,331	INR	89,923	4/4/2024	CBK		408		—		408
USD	60,169	INR	59,949	4/4/2024	CBK		220		—		220
USD	60,138	INR	59,949	4/4/2024	CBK		189		—		189
USD	60,224	INR	59,949	4/4/2024	CBK		275		—		275
USD	60,211	INR	59,949	4/4/2024	CBK		262		—		262
USD	60,214	INR	59,949	4/4/2024	CBK		265		—		265
USD	60,216	INR	59,949	4/4/2024	CBK		267		—		267
USD	60,210	INR	59,949	4/4/2024	CBK		261		—		261
USD	60,221	INR	59,949	4/4/2024	CBK		272		—		272

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	30,066	INR	29,974	4/4/2024	CBK	$	92	$	—		$	92
USD	30,066	INR	29,974	4/4/2024	CBK		92		—			92
USD	30,065	INR	29,974	4/4/2024	CBK		91		—			91
USD	30,072	INR	29,974	4/4/2024	CBK		98		—			98
USD	30,074	INR	29,974	4/4/2024	CBK		100		—			100
USD	30,108	INR	29,974	4/4/2024	CBK		134		—			134
TWD	18,192,346	USD	18,170,030	4/15/2024	CBK		22,316		—			22,316
TWD	57,561,518	USD	57,492,347	4/15/2024	CBK		69,171		—			69,171
USD	76,767,151	TWD	75,753,864	4/15/2024	CBK		1,013,287		—			1,013,287
INR	8,659,830	USD	8,692,743	4/16/2024	CBK		—		(32,913	)		(32,913	)
USD	2,735,098	INR	2,726,798	4/16/2024	CBK		8,300		—			8,300
USD	511,128	INR	509,402	4/16/2024	CBK		1,726		—			1,726
USD	270,507	INR	269,683	4/16/2024	CBK		824		—			824
USD	240,479	INR	239,719	4/16/2024	CBK		760		—			760
USD	240,597	INR	239,719	4/16/2024	CBK		878		—			878
USD	240,491	INR	239,719	4/16/2024	CBK		772		—			772
USD	240,562	INR	239,719	4/16/2024	CBK		843		—			843
USD	240,619	INR	239,719	4/16/2024	CBK		900		—			900
USD	240,599	INR	239,719	4/16/2024	CBK		880		—			880
USD	240,569	INR	239,719	4/16/2024	CBK		850		—			850
USD	210,435	INR	209,754	4/16/2024	CBK		681		—			681
USD	210,437	INR	209,754	4/16/2024	CBK		683		—			683
USD	210,405	INR	209,754	4/16/2024	CBK		651		—			651
USD	210,403	INR	209,754	4/16/2024	CBK		649		—			649
USD	210,431	INR	209,754	4/16/2024	CBK		677		—			677
USD	210,435	INR	209,754	4/16/2024	CBK		681		—			681
USD	210,497	INR	209,754	4/16/2024	CBK		743		—			743
USD	180,426	INR	179,789	4/16/2024	CBK		637		—			637
USD	180,348	INR	179,789	4/16/2024	CBK		559		—			559
USD	180,347	INR	179,789	4/16/2024	CBK		558		—			558
USD	150,301	INR	149,824	4/16/2024	CBK		477		—			477
USD	150,279	INR	149,824	4/16/2024	CBK		455		—			455
USD	150,307	INR	149,824	4/16/2024	CBK		483		—			483
USD	120,238	INR	119,859	4/16/2024	CBK		379		—			379
USD	120,237	INR	119,859	4/16/2024	CBK		378		—			378
USD	90,187	INR	89,894	4/16/2024	CBK		293		—			293
USD	90,181	INR	89,894	4/16/2024	CBK		287		—			287
USD	90,182	INR	89,894	4/16/2024	CBK		288		—			288
USD	90,172	INR	89,894	4/16/2024	CBK		278		—			278
USD	90,185	INR	89,894	4/16/2024	CBK		291		—			291
USD	90,183	INR	89,894	4/16/2024	CBK		289		—			289
USD	60,114	INR	59,930	4/16/2024	CBK		184		—			184
USD	60,109	INR	59,930	4/16/2024	CBK		179		—			179
USD	60,113	INR	59,930	4/16/2024	CBK		183		—			183
USD	60,122	INR	59,930	4/16/2024	CBK		192		—			192
INR	389	USD	391	4/26/2024	CBK		—		(2	)		(2	)
INR	269,220	USD	270,353	4/26/2024	CBK		—		(1,133	)		(1,133	)
USD	929,494	INR	928,655	4/26/2024	CBK		839		—			839
USD	60,099	INR	59,913	4/26/2024	CBK		186		—			186
USD	30,048	INR	29,957	4/26/2024	CBK		91		—			91
USD	30,043	INR	29,957	4/26/2024	CBK		86		—			86
USD	30,059	INR	29,957	4/26/2024	CBK		102		—			102
USD	30,054	INR	29,957	4/26/2024	CBK		97		—			97
USD	30,051	INR	29,957	4/26/2024	CBK		94		—			94
USD	30,053	INR	29,957	4/26/2024	CBK		96		—			96
USD	30,052	INR	29,957	4/26/2024	CBK		95		—			95

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	40,315,271	TWD	39,733,272	4/29/2024	CBK	$	581,999	$	—		$	581,999
USD	12,096,124	TWD	11,990,514	4/29/2024	CBK		105,610		—			105,610
INR	16,249,802	USD	16,364,538	5/10/2024	CBK		—		(114,736	)		(114,736	)
INR	35,284,859	USD	35,537,768	5/10/2024	CBK		—		(252,909	)		(252,909	)
USD	4,943,439	INR	4,940,859	5/10/2024	CBK		2,580		—			2,580
USD	3,565,650	INR	3,563,408	5/10/2024	CBK		2,242		—			2,242
USD	3,385,655	INR	3,383,740	5/10/2024	CBK		1,915		—			1,915
USD	3,326,489	INR	3,323,851	5/10/2024	CBK		2,638		—			2,638
USD	3,026,453	INR	3,024,405	5/10/2024	CBK		2,048		—			2,048
USD	2,501,120	INR	2,500,272	5/10/2024	CBK		848		—			848
USD	2,201,899	INR	2,201,031	5/10/2024	CBK		868		—			868
USD	2,097,129	INR	2,096,122	5/10/2024	CBK		1,007		—			1,007
USD	1,827,983	INR	1,826,621	5/10/2024	CBK		1,362		—			1,362
USD	1,738,176	INR	1,736,787	5/10/2024	CBK		1,389		—			1,389
USD	1,562,471	INR	1,557,119	5/10/2024	CBK		5,352		—			5,352
USD	1,558,547	INR	1,557,119	5/10/2024	CBK		1,428		—			1,428
USD	1,441,501	INR	1,437,341	5/10/2024	CBK		4,160		—			4,160
USD	1,407,817	INR	1,407,396	5/10/2024	CBK		421		—			421
USD	1,228,078	INR	1,227,729	5/10/2024	CBK		349		—			349
USD	1,227,654	INR	1,227,729	5/10/2024	CBK		—		(75	)		(75	)
USD	1,198,819	INR	1,197,784	5/10/2024	CBK		1,035		—			1,035
USD	1,138,102	INR	1,137,895	5/10/2024	CBK		207		—			207
USD	1,108,851	INR	1,107,950	5/10/2024	CBK		901		—			901
USD	1,079,093	INR	1,078,006	5/10/2024	CBK		1,087		—			1,087
USD	1,019,222	INR	1,018,117	5/10/2024	CBK		1,105		—			1,105
USD	1,019,112	INR	1,018,117	5/10/2024	CBK		995		—			995
USD	930,942	INR	928,283	5/10/2024	CBK		2,659		—			2,659
USD	928,746	INR	928,283	5/10/2024	CBK		463		—			463
USD	928,738	INR	928,283	5/10/2024	CBK		455		—			455
USD	928,715	INR	928,283	5/10/2024	CBK		432		—			432
USD	868,789	INR	868,393	5/10/2024	CBK		396		—			396
USD	808,813	INR	808,504	5/10/2024	CBK		309		—			309
USD	778,858	INR	778,560	5/10/2024	CBK		298		—			298
USD	749,264	INR	748,615	5/10/2024	CBK		649		—			649
USD	719,310	INR	718,670	5/10/2024	CBK		640		—			640
USD	719,375	INR	718,670	5/10/2024	CBK		705		—			705
USD	719,133	INR	718,670	5/10/2024	CBK		463		—			463
USD	659,536	INR	658,781	5/10/2024	CBK		755		—			755
USD	629,395	INR	628,837	5/10/2024	CBK		558		—			558
USD	629,295	INR	628,837	5/10/2024	CBK		458		—			458
USD	569,198	INR	568,947	5/10/2024	CBK		251		—			251
USD	569,025	INR	568,947	5/10/2024	CBK		78		—			78
USD	539,234	INR	539,003	5/10/2024	CBK		231		—			231
USD	538,997	INR	539,003	5/10/2024	CBK		—		(6	)		(6	)
USD	509,189	INR	509,058	5/10/2024	CBK		131		—			131
USD	509,321	INR	509,058	5/10/2024	CBK		263		—			263
USD	509,284	INR	509,058	5/10/2024	CBK		226		—			226
USD	449,650	INR	449,169	5/10/2024	CBK		481		—			481
USD	419,344	INR	419,224	5/10/2024	CBK		120		—			120
USD	419,368	INR	419,224	5/10/2024	CBK		144		—			144
USD	389,604	INR	389,280	5/10/2024	CBK		324		—			324
USD	389,539	INR	389,280	5/10/2024	CBK		259		—			259
USD	389,366	INR	389,280	5/10/2024	CBK		86		—			86
USD	389,346	INR	389,280	5/10/2024	CBK		66		—			66
USD	359,462	INR	359,335	5/10/2024	CBK		127		—			127
USD	359,533	INR	359,335	5/10/2024	CBK		198		—			198

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	359,512	INR	359,335	5/10/2024	CBK	$	177	$	—		$	177
USD	329,533	INR	329,391	5/10/2024	CBK		142		—			142
USD	329,458	INR	329,391	5/10/2024	CBK		67		—			67
USD	299,749	INR	299,446	5/10/2024	CBK		303		—			303
USD	299,502	INR	299,446	5/10/2024	CBK		56		—			56
USD	239,644	INR	239,557	5/10/2024	CBK		87		—			87
USD	209,803	INR	209,612	5/10/2024	CBK		191		—			191
USD	209,689	INR	209,612	5/10/2024	CBK		77		—			77
USD	209,662	INR	209,612	5/10/2024	CBK		50		—			50
USD	209,639	INR	209,612	5/10/2024	CBK		27		—			27
USD	209,707	INR	209,612	5/10/2024	CBK		95		—			95
USD	209,685	INR	209,612	5/10/2024	CBK		73		—			73
USD	179,785	INR	179,668	5/10/2024	CBK		117		—			117
USD	179,748	INR	179,668	5/10/2024	CBK		80		—			80
USD	179,798	INR	179,668	5/10/2024	CBK		130		—			130
USD	179,709	INR	179,668	5/10/2024	CBK		41		—			41
USD	179,709	INR	179,668	5/10/2024	CBK		41		—			41
USD	179,697	INR	179,668	5/10/2024	CBK		29		—			29
USD	179,641	INR	179,668	5/10/2024	CBK		—		(27	)		(27	)
USD	149,733	INR	149,723	5/10/2024	CBK		10		—			10
USD	149,733	INR	149,723	5/10/2024	CBK		10		—			10
USD	149,784	INR	149,723	5/10/2024	CBK		61		—			61
USD	149,760	INR	149,723	5/10/2024	CBK		37		—			37
USD	149,729	INR	149,723	5/10/2024	CBK		6		—			6
USD	149,715	INR	149,723	5/10/2024	CBK		—		(8	)		(8	)
USD	149,732	INR	149,723	5/10/2024	CBK		9		—			9
USD	149,722	INR	149,723	5/10/2024	CBK		—		(1	)		(1	)
USD	149,731	INR	149,723	5/10/2024	CBK		8		—			8
USD	149,703	INR	149,723	5/10/2024	CBK		—		(20	)		(20	)
USD	149,719	INR	149,723	5/10/2024	CBK		—		(4	)		(4	)
USD	119,799	INR	119,778	5/10/2024	CBK		21		—			21
USD	119,806	INR	119,778	5/10/2024	CBK		28		—			28
USD	119,771	INR	119,778	5/10/2024	CBK		—		(7	)		(7	)
USD	119,782	INR	119,778	5/10/2024	CBK		4		—			4
USD	119,779	INR	119,778	5/10/2024	CBK		1		—			1
USD	119,772	INR	119,778	5/10/2024	CBK		—		(6	)		(6	)
USD	89,873	INR	89,834	5/10/2024	CBK		39		—			39
USD	89,824	INR	89,834	5/10/2024	CBK		—		(10	)		(10	)
USD	89,840	INR	89,834	5/10/2024	CBK		6		—			6
USD	89,840	INR	89,834	5/10/2024	CBK		6		—			6
USD	89,840	INR	89,834	5/10/2024	CBK		6		—			6
USD	89,853	INR	89,834	5/10/2024	CBK		19		—			19
USD	89,838	INR	89,834	5/10/2024	CBK		4		—			4
USD	89,825	INR	89,834	5/10/2024	CBK		—		(9	)		(9	)
USD	59,891	INR	59,889	5/10/2024	CBK		2		—			2
USD	59,887	INR	59,889	5/10/2024	CBK		—		(2	)		(2	)
USD	59,890	INR	59,889	5/10/2024	CBK		1		—			1
USD	1,104,209	TWD	1,098,880	5/13/2024	CBK		5,329		—			5,329
USD	1,104,791	TWD	1,098,880	5/13/2024	CBK		5,911		—			5,911
USD	1,104,258	TWD	1,098,880	5/13/2024	CBK		5,378		—			5,378
USD	789,332	TWD	784,914	5/13/2024	CBK		4,418		—			4,418
USD	632,066	TWD	627,931	5/13/2024	CBK		4,135		—			4,135
USD	631,329	TWD	627,931	5/13/2024	CBK		3,398		—			3,398
USD	630,793	TWD	627,931	5/13/2024	CBK		2,862		—			2,862
USD	630,849	TWD	627,931	5/13/2024	CBK		2,918		—			2,918
USD	553,382	TWD	549,440	5/13/2024	CBK		3,942		—			3,942

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	551,518	TWD	549,440	5/13/2024	CBK	$	2,078	$	—		$	2,078
USD	552,429	TWD	549,440	5/13/2024	CBK		2,989		—			2,989
USD	552,167	TWD	549,440	5/13/2024	CBK		2,727		—			2,727
USD	552,500	TWD	549,440	5/13/2024	CBK		3,060		—			3,060
USD	472,145	TWD	470,948	5/13/2024	CBK		1,197		—			1,197
USD	471,769	TWD	470,948	5/13/2024	CBK		821		—			821
USD	473,496	TWD	470,948	5/13/2024	CBK		2,548		—			2,548
USD	472,925	TWD	470,948	5/13/2024	CBK		1,977		—			1,977
USD	473,570	TWD	470,948	5/13/2024	CBK		2,622		—			2,622
USD	469,419	TWD	470,948	5/13/2024	CBK		—		(1,529	)		(1,529	)
USD	393,491	TWD	392,457	5/13/2024	CBK		1,034		—			1,034
USD	393,446	TWD	392,457	5/13/2024	CBK		989		—			989
USD	394,583	TWD	392,457	5/13/2024	CBK		2,126		—			2,126
USD	394,521	TWD	392,457	5/13/2024	CBK		2,064		—			2,064
USD	314,669	TWD	313,966	5/13/2024	CBK		703		—			703
USD	315,259	TWD	313,966	5/13/2024	CBK		1,293		—			1,293
USD	315,617	TWD	313,966	5/13/2024	CBK		1,651		—			1,651
USD	313,134	TWD	313,966	5/13/2024	CBK		—		(832	)		(832	)
USD	312,834	TWD	313,966	5/13/2024	CBK		—		(1,132	)		(1,132	)
USD	236,006	TWD	235,474	5/13/2024	CBK		532		—			532
USD	236,724	TWD	235,474	5/13/2024	CBK		1,250		—			1,250
USD	236,228	TWD	235,474	5/13/2024	CBK		754		—			754
USD	234,595	TWD	235,474	5/13/2024	CBK		—		(879	)		(879	)
USD	157,373	TWD	156,983	5/13/2024	CBK		390		—			390
USD	157,619	TWD	156,983	5/13/2024	CBK		636		—			636
USD	157,570	TWD	156,983	5/13/2024	CBK		587		—			587
USD	156,492	TWD	156,983	5/13/2024	CBK		—		(491	)		(491	)
USD	78,873	TWD	78,491	5/13/2024	CBK		382		—			382
USD	79,018	TWD	78,491	5/13/2024	CBK		527		—			527
USD	78,839	TWD	78,491	5/13/2024	CBK		348		—			348
USD	78,774	TWD	78,491	5/13/2024	CBK		283		—			283
USD	57,575,152	TWD	57,798,879	5/23/2024	CBK		—		(223,727	)		(223,727	)
USD	18,199,675	TWD	18,267,364	5/23/2024	CBK		—		(67,689	)		(67,689	)
BRL	19,939	USD	20,154	4/2/2024	HUB		—		(215	)		(215	)
BRL	19,939	USD	20,146	4/2/2024	HUB		—		(207	)		(207	)
BRL	19,939	USD	20,150	4/2/2024	HUB		—		(211	)		(211	)
BRL	19,939	USD	20,148	4/2/2024	HUB		—		(209	)		(209	)
BRL	19,939	USD	20,144	4/2/2024	HUB		—		(205	)		(205	)
BRL	19,939	USD	20,149	4/2/2024	HUB		—		(210	)		(210	)
BRL	19,939	USD	20,125	4/2/2024	HUB		—		(186	)		(186	)
BRL	19,939	USD	20,156	4/2/2024	HUB		—		(217	)		(217	)
BRL	19,939	USD	20,146	4/2/2024	HUB		—		(207	)		(207	)
BRL	39,877	USD	40,296	4/2/2024	HUB		—		(419	)		(419	)
BRL	39,877	USD	40,303	4/2/2024	HUB		—		(426	)		(426	)
BRL	39,877	USD	40,291	4/2/2024	HUB		—		(414	)		(414	)
BRL	39,877	USD	40,305	4/2/2024	HUB		—		(428	)		(428	)
BRL	39,877	USD	40,438	4/2/2024	HUB		—		(561	)		(561	)
BRL	39,877	USD	40,300	4/2/2024	HUB		—		(423	)		(423	)
BRL	39,877	USD	40,300	4/2/2024	HUB		—		(423	)		(423	)
BRL	39,877	USD	40,283	4/2/2024	HUB		—		(406	)		(406	)
BRL	39,877	USD	40,296	4/2/2024	HUB		—		(419	)		(419	)
BRL	39,877	USD	40,292	4/2/2024	HUB		—		(415	)		(415	)
BRL	39,877	USD	40,295	4/2/2024	HUB		—		(418	)		(418	)
BRL	39,877	USD	40,290	4/2/2024	HUB		—		(413	)		(413	)
BRL	39,877	USD	40,300	4/2/2024	HUB		—		(423	)		(423	)
BRL	39,877	USD	40,300	4/2/2024	HUB		—		(423	)		(423	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	39,877	USD	40,296	4/2/2024	HUB	$	—	$	(419	)	$	(419	)
BRL	39,877	USD	40,294	4/2/2024	HUB		—		(417	)		(417	)
BRL	39,877	USD	40,296	4/2/2024	HUB		—		(419	)		(419	)
BRL	39,877	USD	40,299	4/2/2024	HUB		—		(422	)		(422	)
BRL	39,877	USD	40,316	4/2/2024	HUB		—		(439	)		(439	)
BRL	39,877	USD	40,313	4/2/2024	HUB		—		(436	)		(436	)
BRL	39,877	USD	40,279	4/2/2024	HUB		—		(402	)		(402	)
BRL	39,877	USD	40,253	4/2/2024	HUB		—		(376	)		(376	)
BRL	39,877	USD	40,300	4/2/2024	HUB		—		(423	)		(423	)
BRL	39,877	USD	40,297	4/2/2024	HUB		—		(420	)		(420	)
BRL	39,877	USD	40,297	4/2/2024	HUB		—		(420	)		(420	)
BRL	39,877	USD	40,400	4/2/2024	HUB		—		(523	)		(523	)
BRL	39,877	USD	40,350	4/2/2024	HUB		—		(473	)		(473	)
BRL	39,877	USD	40,355	4/2/2024	HUB		—		(478	)		(478	)
BRL	39,877	USD	40,406	4/2/2024	HUB		—		(529	)		(529	)
BRL	39,877	USD	40,257	4/2/2024	HUB		—		(380	)		(380	)
BRL	39,877	USD	40,261	4/2/2024	HUB		—		(384	)		(384	)
BRL	39,877	USD	40,256	4/2/2024	HUB		—		(379	)		(379	)
BRL	39,877	USD	40,258	4/2/2024	HUB		—		(381	)		(381	)
BRL	39,877	USD	40,288	4/2/2024	HUB		—		(411	)		(411	)
BRL	39,877	USD	40,404	4/2/2024	HUB		—		(527	)		(527	)
BRL	39,877	USD	40,260	4/2/2024	HUB		—		(383	)		(383	)
BRL	39,877	USD	40,308	4/2/2024	HUB		—		(431	)		(431	)
BRL	39,877	USD	40,304	4/2/2024	HUB		—		(427	)		(427	)
BRL	39,877	USD	40,405	4/2/2024	HUB		—		(528	)		(528	)
BRL	59,816	USD	60,448	4/2/2024	HUB		—		(632	)		(632	)
BRL	59,816	USD	60,461	4/2/2024	HUB		—		(645	)		(645	)
BRL	59,816	USD	60,438	4/2/2024	HUB		—		(622	)		(622	)
BRL	59,816	USD	60,456	4/2/2024	HUB		—		(640	)		(640	)
BRL	59,816	USD	60,455	4/2/2024	HUB		—		(639	)		(639	)
BRL	59,816	USD	60,449	4/2/2024	HUB		—		(633	)		(633	)
BRL	59,816	USD	60,498	4/2/2024	HUB		—		(682	)		(682	)
BRL	59,816	USD	60,426	4/2/2024	HUB		—		(610	)		(610	)
BRL	59,816	USD	60,424	4/2/2024	HUB		—		(608	)		(608	)
BRL	59,816	USD	60,428	4/2/2024	HUB		—		(612	)		(612	)
BRL	59,816	USD	60,437	4/2/2024	HUB		—		(621	)		(621	)
BRL	59,816	USD	60,445	4/2/2024	HUB		—		(629	)		(629	)
BRL	59,816	USD	60,480	4/2/2024	HUB		—		(664	)		(664	)
BRL	59,816	USD	60,439	4/2/2024	HUB		—		(623	)		(623	)
BRL	59,816	USD	60,445	4/2/2024	HUB		—		(629	)		(629	)
BRL	59,816	USD	60,467	4/2/2024	HUB		—		(651	)		(651	)
BRL	59,816	USD	60,411	4/2/2024	HUB		—		(595	)		(595	)
BRL	59,816	USD	60,445	4/2/2024	HUB		—		(629	)		(629	)
BRL	59,816	USD	60,439	4/2/2024	HUB		—		(623	)		(623	)
BRL	59,816	USD	60,418	4/2/2024	HUB		—		(602	)		(602	)
BRL	59,816	USD	60,420	4/2/2024	HUB		—		(604	)		(604	)
BRL	59,816	USD	60,445	4/2/2024	HUB		—		(629	)		(629	)
BRL	59,816	USD	60,675	4/2/2024	HUB		—		(859	)		(859	)
BRL	59,816	USD	60,454	4/2/2024	HUB		—		(638	)		(638	)
BRL	59,816	USD	60,614	4/2/2024	HUB		—		(798	)		(798	)
BRL	59,816	USD	60,572	4/2/2024	HUB		—		(756	)		(756	)
BRL	59,816	USD	60,560	4/2/2024	HUB		—		(744	)		(744	)
BRL	59,816	USD	60,618	4/2/2024	HUB		—		(802	)		(802	)
BRL	59,816	USD	60,583	4/2/2024	HUB		—		(767	)		(767	)
BRL	59,816	USD	60,571	4/2/2024	HUB		—		(755	)		(755	)
BRL	59,816	USD	60,621	4/2/2024	HUB		—		(805	)		(805	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	59,816	USD	60,594	4/2/2024	HUB	$	—	$	(778	)	$	(778	)
BRL	59,816	USD	60,589	4/2/2024	HUB		—		(773	)		(773	)
BRL	59,816	USD	60,607	4/2/2024	HUB		—		(791	)		(791	)
BRL	59,816	USD	60,633	4/2/2024	HUB		—		(817	)		(817	)
BRL	59,816	USD	60,546	4/2/2024	HUB		—		(730	)		(730	)
BRL	59,816	USD	60,528	4/2/2024	HUB		—		(712	)		(712	)
BRL	59,816	USD	60,520	4/2/2024	HUB		—		(704	)		(704	)
BRL	59,816	USD	60,525	4/2/2024	HUB		—		(709	)		(709	)
BRL	59,816	USD	60,528	4/2/2024	HUB		—		(712	)		(712	)
BRL	59,816	USD	60,534	4/2/2024	HUB		—		(718	)		(718	)
BRL	59,816	USD	60,520	4/2/2024	HUB		—		(704	)		(704	)
BRL	59,816	USD	60,522	4/2/2024	HUB		—		(706	)		(706	)
BRL	59,816	USD	60,528	4/2/2024	HUB		—		(712	)		(712	)
BRL	59,816	USD	60,537	4/2/2024	HUB		—		(721	)		(721	)
BRL	59,816	USD	60,493	4/2/2024	HUB		—		(677	)		(677	)
BRL	59,816	USD	60,676	4/2/2024	HUB		—		(860	)		(860	)
BRL	59,816	USD	60,647	4/2/2024	HUB		—		(831	)		(831	)
BRL	59,816	USD	60,536	4/2/2024	HUB		—		(720	)		(720	)
BRL	59,816	USD	60,579	4/2/2024	HUB		—		(763	)		(763	)
BRL	59,816	USD	60,572	4/2/2024	HUB		—		(756	)		(756	)
BRL	59,816	USD	60,377	4/2/2024	HUB		—		(561	)		(561	)
BRL	59,816	USD	60,422	4/2/2024	HUB		—		(606	)		(606	)
BRL	59,816	USD	60,365	4/2/2024	HUB		—		(549	)		(549	)
BRL	59,816	USD	60,371	4/2/2024	HUB		—		(555	)		(555	)
BRL	59,816	USD	60,397	4/2/2024	HUB		—		(581	)		(581	)
BRL	59,816	USD	60,377	4/2/2024	HUB		—		(561	)		(561	)
BRL	59,816	USD	60,371	4/2/2024	HUB		—		(555	)		(555	)
BRL	59,816	USD	60,439	4/2/2024	HUB		—		(623	)		(623	)
BRL	59,816	USD	60,467	4/2/2024	HUB		—		(651	)		(651	)
BRL	59,816	USD	60,200	4/2/2024	HUB		—		(384	)		(384	)
BRL	59,816	USD	60,413	4/2/2024	HUB		—		(597	)		(597	)
BRL	59,816	USD	60,479	4/2/2024	HUB		—		(663	)		(663	)
BRL	59,816	USD	60,414	4/2/2024	HUB		—		(598	)		(598	)
BRL	59,816	USD	60,385	4/2/2024	HUB		—		(569	)		(569	)
BRL	59,816	USD	60,448	4/2/2024	HUB		—		(632	)		(632	)
BRL	59,816	USD	60,432	4/2/2024	HUB		—		(616	)		(616	)
BRL	59,816	USD	60,458	4/2/2024	HUB		—		(642	)		(642	)
BRL	59,816	USD	60,457	4/2/2024	HUB		—		(641	)		(641	)
BRL	59,816	USD	60,424	4/2/2024	HUB		—		(608	)		(608	)
BRL	79,754	USD	80,593	4/2/2024	HUB		—		(839	)		(839	)
BRL	79,754	USD	80,632	4/2/2024	HUB		—		(878	)		(878	)
BRL	79,754	USD	80,593	4/2/2024	HUB		—		(839	)		(839	)
BRL	79,754	USD	80,885	4/2/2024	HUB		—		(1,131	)		(1,131	)
BRL	79,754	USD	80,624	4/2/2024	HUB		—		(870	)		(870	)
BRL	79,754	USD	80,581	4/2/2024	HUB		—		(827	)		(827	)
BRL	79,754	USD	80,598	4/2/2024	HUB		—		(844	)		(844	)
BRL	79,754	USD	80,607	4/2/2024	HUB		—		(853	)		(853	)
BRL	79,754	USD	80,606	4/2/2024	HUB		—		(852	)		(852	)
BRL	79,754	USD	80,640	4/2/2024	HUB		—		(886	)		(886	)
BRL	79,754	USD	80,591	4/2/2024	HUB		—		(837	)		(837	)
BRL	79,754	USD	80,568	4/2/2024	HUB		—		(814	)		(814	)
BRL	79,754	USD	80,617	4/2/2024	HUB		—		(863	)		(863	)
BRL	79,754	USD	80,642	4/2/2024	HUB		—		(888	)		(888	)
BRL	79,754	USD	80,607	4/2/2024	HUB		—		(853	)		(853	)
BRL	79,754	USD	80,599	4/2/2024	HUB		—		(845	)		(845	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	79,754	USD	80,515	4/2/2024	HUB	$	—	$	(761	)	$	(761	)
BRL	79,754	USD	80,596	4/2/2024	HUB		—		(842	)		(842	)
BRL	79,754	USD	80,645	4/2/2024	HUB		—		(891	)		(891	)
BRL	79,754	USD	80,595	4/2/2024	HUB		—		(841	)		(841	)
BRL	79,754	USD	80,603	4/2/2024	HUB		—		(849	)		(849	)
BRL	79,754	USD	80,620	4/2/2024	HUB		—		(866	)		(866	)
BRL	79,754	USD	80,849	4/2/2024	HUB		—		(1,095	)		(1,095	)
BRL	79,754	USD	80,827	4/2/2024	HUB		—		(1,073	)		(1,073	)
BRL	79,754	USD	80,737	4/2/2024	HUB		—		(983	)		(983	)
BRL	79,754	USD	80,745	4/2/2024	HUB		—		(991	)		(991	)
BRL	79,754	USD	80,698	4/2/2024	HUB		—		(944	)		(944	)
BRL	79,754	USD	80,806	4/2/2024	HUB		—		(1,052	)		(1,052	)
BRL	79,754	USD	80,816	4/2/2024	HUB		—		(1,062	)		(1,062	)
BRL	79,754	USD	80,751	4/2/2024	HUB		—		(997	)		(997	)
BRL	79,754	USD	80,708	4/2/2024	HUB		—		(954	)		(954	)
BRL	79,754	USD	80,760	4/2/2024	HUB		—		(1,006	)		(1,006	)
BRL	79,754	USD	80,760	4/2/2024	HUB		—		(1,006	)		(1,006	)
BRL	79,754	USD	80,695	4/2/2024	HUB		—		(941	)		(941	)
BRL	79,754	USD	80,712	4/2/2024	HUB		—		(958	)		(958	)
BRL	79,754	USD	80,703	4/2/2024	HUB		—		(949	)		(949	)
BRL	79,754	USD	80,703	4/2/2024	HUB		—		(949	)		(949	)
BRL	79,754	USD	80,713	4/2/2024	HUB		—		(959	)		(959	)
BRL	79,754	USD	80,703	4/2/2024	HUB		—		(949	)		(949	)
BRL	79,754	USD	80,710	4/2/2024	HUB		—		(956	)		(956	)
BRL	79,754	USD	80,710	4/2/2024	HUB		—		(956	)		(956	)
BRL	79,754	USD	80,794	4/2/2024	HUB		—		(1,040	)		(1,040	)
BRL	79,754	USD	80,853	4/2/2024	HUB		—		(1,099	)		(1,099	)
BRL	79,754	USD	80,738	4/2/2024	HUB		—		(984	)		(984	)
BRL	79,754	USD	80,844	4/2/2024	HUB		—		(1,090	)		(1,090	)
BRL	79,754	USD	80,834	4/2/2024	HUB		—		(1,080	)		(1,080	)
BRL	79,754	USD	80,824	4/2/2024	HUB		—		(1,070	)		(1,070	)
BRL	79,754	USD	80,738	4/2/2024	HUB		—		(984	)		(984	)
BRL	79,754	USD	80,692	4/2/2024	HUB		—		(938	)		(938	)
BRL	79,754	USD	80,625	4/2/2024	HUB		—		(871	)		(871	)
BRL	79,754	USD	80,653	4/2/2024	HUB		—		(899	)		(899	)
BRL	79,754	USD	80,769	4/2/2024	HUB		—		(1,015	)		(1,015	)
BRL	79,754	USD	80,640	4/2/2024	HUB		—		(886	)		(886	)
BRL	79,754	USD	80,591	4/2/2024	HUB		—		(837	)		(837	)
BRL	79,754	USD	80,884	4/2/2024	HUB		—		(1,130	)		(1,130	)
BRL	79,754	USD	80,508	4/2/2024	HUB		—		(754	)		(754	)
BRL	79,754	USD	80,518	4/2/2024	HUB		—		(764	)		(764	)
BRL	79,754	USD	80,496	4/2/2024	HUB		—		(742	)		(742	)
BRL	79,754	USD	80,703	4/2/2024	HUB		—		(949	)		(949	)
BRL	79,754	USD	80,720	4/2/2024	HUB		—		(966	)		(966	)
BRL	79,754	USD	80,712	4/2/2024	HUB		—		(958	)		(958	)
BRL	79,754	USD	80,752	4/2/2024	HUB		—		(998	)		(998	)
BRL	79,754	USD	80,698	4/2/2024	HUB		—		(944	)		(944	)
BRL	79,754	USD	80,630	4/2/2024	HUB		—		(876	)		(876	)
BRL	79,754	USD	80,612	4/2/2024	HUB		—		(858	)		(858	)
BRL	79,754	USD	80,789	4/2/2024	HUB		—		(1,035	)		(1,035	)
BRL	79,754	USD	80,723	4/2/2024	HUB		—		(969	)		(969	)
BRL	79,754	USD	80,820	4/2/2024	HUB		—		(1,066	)		(1,066	)
BRL	79,754	USD	80,804	4/2/2024	HUB		—		(1,050	)		(1,050	)
BRL	79,754	USD	80,225	4/2/2024	HUB		—		(471	)		(471	)
BRL	79,754	USD	80,461	4/2/2024	HUB		—		(707	)		(707	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	79,754	USD	80,776	4/2/2024	HUB	$	—	$	(1,022	)	$	(1,022	)
BRL	79,754	USD	80,800	4/2/2024	HUB		—		(1,046	)		(1,046	)
BRL	79,754	USD	80,530	4/2/2024	HUB		—		(776	)		(776	)
BRL	79,754	USD	80,640	4/2/2024	HUB		—		(886	)		(886	)
BRL	79,754	USD	80,591	4/2/2024	HUB		—		(837	)		(837	)
BRL	79,754	USD	80,835	4/2/2024	HUB		—		(1,081	)		(1,081	)
BRL	79,754	USD	80,762	4/2/2024	HUB		—		(1,008	)		(1,008	)
BRL	79,754	USD	80,614	4/2/2024	HUB		—		(860	)		(860	)
BRL	99,693	USD	100,996	4/2/2024	HUB		—		(1,303	)		(1,303	)
BRL	99,693	USD	100,745	4/2/2024	HUB		—		(1,052	)		(1,052	)
BRL	99,693	USD	100,754	4/2/2024	HUB		—		(1,061	)		(1,061	)
BRL	99,693	USD	101,054	4/2/2024	HUB		—		(1,361	)		(1,361	)
BRL	99,693	USD	101,100	4/2/2024	HUB		—		(1,407	)		(1,407	)
BRL	99,693	USD	100,770	4/2/2024	HUB		—		(1,077	)		(1,077	)
BRL	99,693	USD	100,811	4/2/2024	HUB		—		(1,118	)		(1,118	)
BRL	99,693	USD	100,719	4/2/2024	HUB		—		(1,026	)		(1,026	)
BRL	99,693	USD	100,701	4/2/2024	HUB		—		(1,008	)		(1,008	)
BRL	99,693	USD	100,689	4/2/2024	HUB		—		(996	)		(996	)
BRL	99,693	USD	100,636	4/2/2024	HUB		—		(943	)		(943	)
BRL	99,693	USD	100,728	4/2/2024	HUB		—		(1,035	)		(1,035	)
BRL	99,693	USD	100,693	4/2/2024	HUB		—		(1,000	)		(1,000	)
BRL	99,693	USD	101,070	4/2/2024	HUB		—		(1,377	)		(1,377	)
BRL	99,693	USD	100,935	4/2/2024	HUB		—		(1,242	)		(1,242	)
BRL	99,693	USD	101,066	4/2/2024	HUB		—		(1,373	)		(1,373	)
BRL	99,693	USD	101,168	4/2/2024	HUB		—		(1,475	)		(1,475	)
BRL	99,693	USD	101,064	4/2/2024	HUB		—		(1,371	)		(1,371	)
BRL	99,693	USD	100,963	4/2/2024	HUB		—		(1,270	)		(1,270	)
BRL	99,693	USD	100,988	4/2/2024	HUB		—		(1,295	)		(1,295	)
BRL	99,693	USD	101,170	4/2/2024	HUB		—		(1,477	)		(1,477	)
BRL	99,693	USD	101,065	4/2/2024	HUB		—		(1,372	)		(1,372	)
BRL	99,693	USD	101,075	4/2/2024	HUB		—		(1,382	)		(1,382	)
BRL	99,693	USD	101,037	4/2/2024	HUB		—		(1,344	)		(1,344	)
BRL	99,693	USD	100,867	4/2/2024	HUB		—		(1,174	)		(1,174	)
BRL	99,693	USD	100,881	4/2/2024	HUB		—		(1,188	)		(1,188	)
BRL	99,693	USD	100,929	4/2/2024	HUB		—		(1,236	)		(1,236	)
BRL	99,693	USD	100,946	4/2/2024	HUB		—		(1,253	)		(1,253	)
BRL	99,693	USD	100,961	4/2/2024	HUB		—		(1,268	)		(1,268	)
BRL	99,693	USD	100,971	4/2/2024	HUB		—		(1,278	)		(1,278	)
BRL	99,693	USD	100,990	4/2/2024	HUB		—		(1,297	)		(1,297	)
BRL	99,693	USD	100,969	4/2/2024	HUB		—		(1,276	)		(1,276	)
BRL	99,693	USD	101,066	4/2/2024	HUB		—		(1,373	)		(1,373	)
BRL	99,693	USD	101,065	4/2/2024	HUB		—		(1,372	)		(1,372	)
BRL	99,693	USD	100,922	4/2/2024	HUB		—		(1,229	)		(1,229	)
BRL	99,693	USD	100,910	4/2/2024	HUB		—		(1,217	)		(1,217	)
BRL	99,693	USD	100,881	4/2/2024	HUB		—		(1,188	)		(1,188	)
BRL	99,693	USD	100,898	4/2/2024	HUB		—		(1,205	)		(1,205	)
BRL	99,693	USD	100,880	4/2/2024	HUB		—		(1,187	)		(1,187	)
BRL	99,693	USD	100,880	4/2/2024	HUB		—		(1,187	)		(1,187	)
BRL	99,693	USD	100,919	4/2/2024	HUB		—		(1,226	)		(1,226	)
BRL	99,693	USD	101,004	4/2/2024	HUB		—		(1,311	)		(1,311	)
BRL	99,693	USD	100,811	4/2/2024	HUB		—		(1,118	)		(1,118	)
BRL	99,693	USD	100,827	4/2/2024	HUB		—		(1,134	)		(1,134	)
BRL	99,693	USD	101,023	4/2/2024	HUB		—		(1,330	)		(1,330	)
BRL	99,693	USD	101,044	4/2/2024	HUB		—		(1,351	)		(1,351	)
BRL	99,693	USD	101,024	4/2/2024	HUB		—		(1,331	)		(1,331	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	99,693	USD	101,157	4/2/2024	HUB	$	—	$	(1,464	)	$	(1,464	)
BRL	99,693	USD	101,150	4/2/2024	HUB		—		(1,457	)		(1,457	)
BRL	99,693	USD	101,072	4/2/2024	HUB		—		(1,379	)		(1,379	)
BRL	99,693	USD	100,943	4/2/2024	HUB		—		(1,250	)		(1,250	)
BRL	99,693	USD	101,004	4/2/2024	HUB		—		(1,311	)		(1,311	)
BRL	99,693	USD	100,965	4/2/2024	HUB		—		(1,272	)		(1,272	)
BRL	99,693	USD	100,951	4/2/2024	HUB		—		(1,258	)		(1,258	)
BRL	99,693	USD	101,074	4/2/2024	HUB		—		(1,381	)		(1,381	)
BRL	99,693	USD	101,057	4/2/2024	HUB		—		(1,364	)		(1,364	)
BRL	99,693	USD	100,894	4/2/2024	HUB		—		(1,201	)		(1,201	)
BRL	99,693	USD	100,955	4/2/2024	HUB		—		(1,262	)		(1,262	)
BRL	99,693	USD	100,943	4/2/2024	HUB		—		(1,250	)		(1,250	)
BRL	99,693	USD	100,808	4/2/2024	HUB		—		(1,115	)		(1,115	)
BRL	99,693	USD	101,035	4/2/2024	HUB		—		(1,342	)		(1,342	)
BRL	99,693	USD	101,016	4/2/2024	HUB		—		(1,323	)		(1,323	)
BRL	99,693	USD	100,818	4/2/2024	HUB		—		(1,125	)		(1,125	)
BRL	99,693	USD	100,623	4/2/2024	HUB		—		(930	)		(930	)
BRL	99,693	USD	100,653	4/2/2024	HUB		—		(960	)		(960	)
BRL	99,693	USD	100,769	4/2/2024	HUB		—		(1,076	)		(1,076	)
BRL	99,693	USD	101,014	4/2/2024	HUB		—		(1,321	)		(1,321	)
BRL	99,693	USD	100,898	4/2/2024	HUB		—		(1,205	)		(1,205	)
BRL	99,693	USD	100,900	4/2/2024	HUB		—		(1,207	)		(1,207	)
BRL	99,693	USD	100,780	4/2/2024	HUB		—		(1,087	)		(1,087	)
BRL	99,693	USD	100,961	4/2/2024	HUB		—		(1,268	)		(1,268	)
BRL	99,693	USD	100,872	4/2/2024	HUB		—		(1,179	)		(1,179	)
BRL	99,693	USD	100,935	4/2/2024	HUB		—		(1,242	)		(1,242	)
BRL	99,693	USD	101,044	4/2/2024	HUB		—		(1,351	)		(1,351	)
BRL	99,693	USD	101,006	4/2/2024	HUB		—		(1,313	)		(1,313	)
BRL	99,693	USD	100,984	4/2/2024	HUB		—		(1,291	)		(1,291	)
BRL	99,693	USD	100,961	4/2/2024	HUB		—		(1,268	)		(1,268	)
BRL	99,693	USD	100,762	4/2/2024	HUB		—		(1,069	)		(1,069	)
BRL	99,693	USD	100,737	4/2/2024	HUB		—		(1,044	)		(1,044	)
BRL	99,693	USD	101,129	4/2/2024	HUB		—		(1,436	)		(1,436	)
BRL	99,693	USD	101,106	4/2/2024	HUB		—		(1,413	)		(1,413	)
BRL	99,693	USD	100,800	4/2/2024	HUB		—		(1,107	)		(1,107	)
BRL	119,631	USD	120,917	4/2/2024	HUB		—		(1,286	)		(1,286	)
BRL	119,631	USD	120,945	4/2/2024	HUB		—		(1,314	)		(1,314	)
BRL	119,631	USD	121,287	4/2/2024	HUB		—		(1,656	)		(1,656	)
BRL	119,631	USD	121,278	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	119,631	USD	121,247	4/2/2024	HUB		—		(1,616	)		(1,616	)
BRL	119,631	USD	121,267	4/2/2024	HUB		—		(1,636	)		(1,636	)
BRL	119,631	USD	121,316	4/2/2024	HUB		—		(1,685	)		(1,685	)
BRL	119,631	USD	121,237	4/2/2024	HUB		—		(1,606	)		(1,606	)
BRL	119,631	USD	121,215	4/2/2024	HUB		—		(1,584	)		(1,584	)
BRL	119,631	USD	121,265	4/2/2024	HUB		—		(1,634	)		(1,634	)
BRL	119,631	USD	121,278	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	119,631	USD	121,202	4/2/2024	HUB		—		(1,571	)		(1,571	)
BRL	119,631	USD	121,104	4/2/2024	HUB		—		(1,473	)		(1,473	)
BRL	119,631	USD	121,278	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	119,631	USD	121,028	4/2/2024	HUB		—		(1,397	)		(1,397	)
BRL	119,631	USD	121,190	4/2/2024	HUB		—		(1,559	)		(1,559	)
BRL	119,631	USD	121,214	4/2/2024	HUB		—		(1,583	)		(1,583	)
BRL	119,631	USD	121,239	4/2/2024	HUB		—		(1,608	)		(1,608	)
BRL	119,631	USD	121,227	4/2/2024	HUB		—		(1,596	)		(1,596	)
BRL	119,631	USD	121,237	4/2/2024	HUB		—		(1,606	)		(1,606	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	119,631	USD	121,179	4/2/2024	HUB	$	—	$	(1,548	)	$	(1,548	)
BRL	119,631	USD	121,055	4/2/2024	HUB		—		(1,424	)		(1,424	)
BRL	119,631	USD	121,065	4/2/2024	HUB		—		(1,434	)		(1,434	)
BRL	119,631	USD	121,189	4/2/2024	HUB		—		(1,558	)		(1,558	)
BRL	119,631	USD	121,240	4/2/2024	HUB		—		(1,609	)		(1,609	)
BRL	119,631	USD	121,165	4/2/2024	HUB		—		(1,534	)		(1,534	)
BRL	119,631	USD	121,165	4/2/2024	HUB		—		(1,534	)		(1,534	)
BRL	119,631	USD	121,241	4/2/2024	HUB		—		(1,610	)		(1,610	)
BRL	119,631	USD	121,214	4/2/2024	HUB		—		(1,583	)		(1,583	)
BRL	119,631	USD	121,143	4/2/2024	HUB		—		(1,512	)		(1,512	)
BRL	119,631	USD	121,058	4/2/2024	HUB		—		(1,427	)		(1,427	)
BRL	119,631	USD	121,055	4/2/2024	HUB		—		(1,424	)		(1,424	)
BRL	119,631	USD	121,057	4/2/2024	HUB		—		(1,426	)		(1,426	)
BRL	119,631	USD	121,064	4/2/2024	HUB		—		(1,433	)		(1,433	)
BRL	119,631	USD	121,055	4/2/2024	HUB		—		(1,424	)		(1,424	)
BRL	119,631	USD	121,065	4/2/2024	HUB		—		(1,434	)		(1,434	)
BRL	119,631	USD	121,054	4/2/2024	HUB		—		(1,423	)		(1,423	)
BRL	119,631	USD	121,079	4/2/2024	HUB		—		(1,448	)		(1,448	)
BRL	119,631	USD	121,125	4/2/2024	HUB		—		(1,494	)		(1,494	)
BRL	119,632	USD	121,126	4/2/2024	HUB		—		(1,494	)		(1,494	)
BRL	119,632	USD	121,077	4/2/2024	HUB		—		(1,445	)		(1,445	)
BRL	119,632	USD	121,200	4/2/2024	HUB		—		(1,568	)		(1,568	)
BRL	119,632	USD	121,188	4/2/2024	HUB		—		(1,556	)		(1,556	)
BRL	119,632	USD	121,214	4/2/2024	HUB		—		(1,582	)		(1,582	)
BRL	119,632	USD	121,217	4/2/2024	HUB		—		(1,585	)		(1,585	)
BRL	119,632	USD	121,242	4/2/2024	HUB		—		(1,610	)		(1,610	)
BRL	119,632	USD	121,132	4/2/2024	HUB		—		(1,500	)		(1,500	)
BRL	119,632	USD	121,127	4/2/2024	HUB		—		(1,495	)		(1,495	)
BRL	119,632	USD	121,233	4/2/2024	HUB		—		(1,601	)		(1,601	)
BRL	119,632	USD	121,252	4/2/2024	HUB		—		(1,620	)		(1,620	)
BRL	119,632	USD	121,249	4/2/2024	HUB		—		(1,617	)		(1,617	)
BRL	119,632	USD	120,983	4/2/2024	HUB		—		(1,351	)		(1,351	)
BRL	119,632	USD	120,947	4/2/2024	HUB		—		(1,315	)		(1,315	)
BRL	119,632	USD	121,357	4/2/2024	HUB		—		(1,725	)		(1,725	)
BRL	119,632	USD	121,279	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	119,632	USD	121,254	4/2/2024	HUB		—		(1,622	)		(1,622	)
BRL	119,632	USD	121,217	4/2/2024	HUB		—		(1,585	)		(1,585	)
BRL	119,632	USD	121,227	4/2/2024	HUB		—		(1,595	)		(1,595	)
BRL	119,632	USD	121,203	4/2/2024	HUB		—		(1,571	)		(1,571	)
BRL	119,632	USD	121,120	4/2/2024	HUB		—		(1,488	)		(1,488	)
BRL	119,632	USD	121,117	4/2/2024	HUB		—		(1,485	)		(1,485	)
BRL	119,632	USD	121,302	4/2/2024	HUB		—		(1,670	)		(1,670	)
BRL	119,632	USD	121,254	4/2/2024	HUB		—		(1,622	)		(1,622	)
BRL	119,632	USD	120,873	4/2/2024	HUB		—		(1,241	)		(1,241	)
BRL	119,632	USD	121,217	4/2/2024	HUB		—		(1,585	)		(1,585	)
BRL	119,632	USD	121,252	4/2/2024	HUB		—		(1,620	)		(1,620	)
BRL	119,632	USD	120,810	4/2/2024	HUB		—		(1,178	)		(1,178	)
BRL	119,632	USD	121,134	4/2/2024	HUB		—		(1,502	)		(1,502	)
BRL	119,632	USD	121,159	4/2/2024	HUB		—		(1,527	)		(1,527	)
BRL	119,632	USD	120,760	4/2/2024	HUB		—		(1,128	)		(1,128	)
BRL	119,632	USD	121,033	4/2/2024	HUB		—		(1,401	)		(1,401	)
BRL	119,632	USD	121,208	4/2/2024	HUB		—		(1,576	)		(1,576	)
BRL	119,632	USD	120,342	4/2/2024	HUB		—		(710	)		(710	)
BRL	119,632	USD	120,477	4/2/2024	HUB		—		(845	)		(845	)
BRL	119,632	USD	120,686	4/2/2024	HUB		—		(1,054	)		(1,054	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	119,632	USD	120,650	4/2/2024	HUB	$	—	$	(1,018	)	$	(1,018	)
BRL	119,632	USD	121,213	4/2/2024	HUB		—		(1,581	)		(1,581	)
BRL	119,632	USD	121,178	4/2/2024	HUB		—		(1,546	)		(1,546	)
BRL	119,632	USD	121,305	4/2/2024	HUB		—		(1,673	)		(1,673	)
BRL	119,632	USD	121,106	4/2/2024	HUB		—		(1,474	)		(1,474	)
BRL	119,632	USD	120,907	4/2/2024	HUB		—		(1,275	)		(1,275	)
BRL	139,570	USD	141,403	4/2/2024	HUB		—		(1,833	)		(1,833	)
BRL	139,570	USD	141,463	4/2/2024	HUB		—		(1,893	)		(1,893	)
BRL	139,570	USD	141,417	4/2/2024	HUB		—		(1,847	)		(1,847	)
BRL	139,570	USD	141,391	4/2/2024	HUB		—		(1,821	)		(1,821	)
BRL	139,570	USD	141,457	4/2/2024	HUB		—		(1,887	)		(1,887	)
BRL	139,570	USD	141,411	4/2/2024	HUB		—		(1,841	)		(1,841	)
BRL	139,570	USD	141,598	4/2/2024	HUB		—		(2,028	)		(2,028	)
BRL	139,570	USD	141,498	4/2/2024	HUB		—		(1,928	)		(1,928	)
BRL	139,570	USD	141,463	4/2/2024	HUB		—		(1,893	)		(1,893	)
BRL	139,570	USD	141,494	4/2/2024	HUB		—		(1,924	)		(1,924	)
BRL	139,570	USD	141,435	4/2/2024	HUB		—		(1,865	)		(1,865	)
BRL	139,570	USD	141,523	4/2/2024	HUB		—		(1,953	)		(1,953	)
BRL	139,570	USD	141,448	4/2/2024	HUB		—		(1,878	)		(1,878	)
BRL	139,570	USD	141,620	4/2/2024	HUB		—		(2,050	)		(2,050	)
BRL	139,570	USD	141,477	4/2/2024	HUB		—		(1,907	)		(1,907	)
BRL	139,570	USD	141,523	4/2/2024	HUB		—		(1,953	)		(1,953	)
BRL	139,570	USD	141,506	4/2/2024	HUB		—		(1,936	)		(1,936	)
BRL	139,570	USD	141,445	4/2/2024	HUB		—		(1,875	)		(1,875	)
BRL	139,570	USD	141,634	4/2/2024	HUB		—		(2,064	)		(2,064	)
BRL	139,570	USD	141,649	4/2/2024	HUB		—		(2,079	)		(2,079	)
BRL	139,570	USD	141,431	4/2/2024	HUB		—		(1,861	)		(1,861	)
BRL	139,570	USD	141,332	4/2/2024	HUB		—		(1,762	)		(1,762	)
BRL	139,570	USD	141,546	4/2/2024	HUB		—		(1,976	)		(1,976	)
BRL	139,570	USD	141,220	4/2/2024	HUB		—		(1,650	)		(1,650	)
BRL	139,570	USD	141,285	4/2/2024	HUB		—		(1,715	)		(1,715	)
BRL	139,570	USD	141,483	4/2/2024	HUB		—		(1,913	)		(1,913	)
BRL	139,570	USD	141,234	4/2/2024	HUB		—		(1,664	)		(1,664	)
BRL	139,570	USD	141,260	4/2/2024	HUB		—		(1,690	)		(1,690	)
BRL	139,570	USD	141,248	4/2/2024	HUB		—		(1,678	)		(1,678	)
BRL	139,570	USD	141,234	4/2/2024	HUB		—		(1,664	)		(1,664	)
BRL	139,570	USD	141,231	4/2/2024	HUB		—		(1,661	)		(1,661	)
BRL	139,570	USD	141,217	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	139,570	USD	141,262	4/2/2024	HUB		—		(1,692	)		(1,692	)
BRL	139,570	USD	141,271	4/2/2024	HUB		—		(1,701	)		(1,701	)
BRL	139,570	USD	141,363	4/2/2024	HUB		—		(1,793	)		(1,793	)
BRL	139,570	USD	141,405	4/2/2024	HUB		—		(1,835	)		(1,835	)
BRL	139,570	USD	141,494	4/2/2024	HUB		—		(1,924	)		(1,924	)
BRL	139,570	USD	141,417	4/2/2024	HUB		—		(1,847	)		(1,847	)
BRL	139,570	USD	141,475	4/2/2024	HUB		—		(1,905	)		(1,905	)
BRL	139,570	USD	141,163	4/2/2024	HUB		—		(1,593	)		(1,593	)
BRL	139,570	USD	141,434	4/2/2024	HUB		—		(1,864	)		(1,864	)
BRL	139,570	USD	141,394	4/2/2024	HUB		—		(1,824	)		(1,824	)
BRL	139,570	USD	141,495	4/2/2024	HUB		—		(1,925	)		(1,925	)
BRL	139,570	USD	141,303	4/2/2024	HUB		—		(1,733	)		(1,733	)
BRL	139,570	USD	141,377	4/2/2024	HUB		—		(1,807	)		(1,807	)
BRL	139,570	USD	141,520	4/2/2024	HUB		—		(1,950	)		(1,950	)
BRL	139,570	USD	141,563	4/2/2024	HUB		—		(1,993	)		(1,993	)
BRL	139,570	USD	141,445	4/2/2024	HUB		—		(1,875	)		(1,875	)
BRL	139,570	USD	141,445	4/2/2024	HUB		—		(1,875	)		(1,875	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	139,570	USD	141,445	4/2/2024	HUB	$	—	$	(1,875	)	$	(1,875	)
BRL	139,570	USD	141,477	4/2/2024	HUB		—		(1,907	)		(1,907	)
BRL	139,570	USD	141,537	4/2/2024	HUB		—		(1,967	)		(1,967	)
BRL	139,570	USD	141,237	4/2/2024	HUB		—		(1,667	)		(1,667	)
BRL	139,570	USD	141,310	4/2/2024	HUB		—		(1,740	)		(1,740	)
BRL	139,570	USD	141,551	4/2/2024	HUB		—		(1,981	)		(1,981	)
BRL	139,570	USD	141,407	4/2/2024	HUB		—		(1,837	)		(1,837	)
BRL	139,570	USD	141,463	4/2/2024	HUB		—		(1,893	)		(1,893	)
BRL	139,570	USD	141,491	4/2/2024	HUB		—		(1,921	)		(1,921	)
BRL	139,570	USD	141,537	4/2/2024	HUB		—		(1,967	)		(1,967	)
BRL	139,570	USD	141,271	4/2/2024	HUB		—		(1,701	)		(1,701	)
BRL	139,570	USD	141,133	4/2/2024	HUB		—		(1,563	)		(1,563	)
BRL	139,570	USD	141,142	4/2/2024	HUB		—		(1,572	)		(1,572	)
BRL	139,570	USD	141,495	4/2/2024	HUB		—		(1,925	)		(1,925	)
BRL	139,570	USD	141,109	4/2/2024	HUB		—		(1,539	)		(1,539	)
BRL	139,570	USD	141,106	4/2/2024	HUB		—		(1,536	)		(1,536	)
BRL	139,570	USD	141,334	4/2/2024	HUB		—		(1,764	)		(1,764	)
BRL	139,570	USD	141,203	4/2/2024	HUB		—		(1,633	)		(1,633	)
BRL	139,570	USD	141,403	4/2/2024	HUB		—		(1,833	)		(1,833	)
BRL	139,570	USD	141,342	4/2/2024	HUB		—		(1,772	)		(1,772	)
BRL	139,570	USD	141,357	4/2/2024	HUB		—		(1,787	)		(1,787	)
BRL	139,570	USD	141,217	4/2/2024	HUB		—		(1,647	)		(1,647	)
BRL	139,570	USD	141,231	4/2/2024	HUB		—		(1,661	)		(1,661	)
BRL	139,570	USD	140,899	4/2/2024	HUB		—		(1,329	)		(1,329	)
BRL	139,570	USD	141,007	4/2/2024	HUB		—		(1,437	)		(1,437	)
BRL	139,570	USD	141,480	4/2/2024	HUB		—		(1,910	)		(1,910	)
BRL	139,570	USD	141,494	4/2/2024	HUB		—		(1,924	)		(1,924	)
BRL	139,570	USD	141,443	4/2/2024	HUB		—		(1,873	)		(1,873	)
BRL	139,570	USD	141,477	4/2/2024	HUB		—		(1,907	)		(1,907	)
BRL	139,570	USD	141,035	4/2/2024	HUB		—		(1,465	)		(1,465	)
BRL	159,509	USD	161,742	4/2/2024	HUB		—		(2,233	)		(2,233	)
BRL	159,509	USD	161,639	4/2/2024	HUB		—		(2,130	)		(2,130	)
BRL	159,509	USD	161,805	4/2/2024	HUB		—		(2,296	)		(2,296	)
BRL	159,509	USD	161,129	4/2/2024	HUB		—		(1,620	)		(1,620	)
BRL	159,509	USD	161,492	4/2/2024	HUB		—		(1,983	)		(1,983	)
BRL	159,509	USD	161,647	4/2/2024	HUB		—		(2,138	)		(2,138	)
BRL	159,509	USD	161,713	4/2/2024	HUB		—		(2,204	)		(2,204	)
BRL	159,509	USD	161,775	4/2/2024	HUB		—		(2,266	)		(2,266	)
BRL	159,509	USD	161,643	4/2/2024	HUB		—		(2,134	)		(2,134	)
BRL	159,509	USD	161,623	4/2/2024	HUB		—		(2,114	)		(2,114	)
BRL	159,509	USD	161,652	4/2/2024	HUB		—		(2,143	)		(2,143	)
BRL	159,509	USD	161,659	4/2/2024	HUB		—		(2,150	)		(2,150	)
BRL	159,509	USD	161,626	4/2/2024	HUB		—		(2,117	)		(2,117	)
BRL	159,509	USD	161,789	4/2/2024	HUB		—		(2,280	)		(2,280	)
BRL	159,509	USD	161,705	4/2/2024	HUB		—		(2,196	)		(2,196	)
BRL	159,509	USD	161,421	4/2/2024	HUB		—		(1,912	)		(1,912	)
BRL	159,509	USD	161,635	4/2/2024	HUB		—		(2,126	)		(2,126	)
BRL	159,509	USD	161,489	4/2/2024	HUB		—		(1,980	)		(1,980	)
BRL	159,509	USD	161,492	4/2/2024	HUB		—		(1,983	)		(1,983	)
BRL	159,509	USD	161,711	4/2/2024	HUB		—		(2,202	)		(2,202	)
BRL	159,509	USD	161,726	4/2/2024	HUB		—		(2,217	)		(2,217	)
BRL	159,509	USD	161,734	4/2/2024	HUB		—		(2,225	)		(2,225	)
BRL	159,509	USD	161,424	4/2/2024	HUB		—		(1,915	)		(1,915	)
BRL	159,509	USD	161,410	4/2/2024	HUB		—		(1,901	)		(1,901	)
BRL	159,509	USD	161,756	4/2/2024	HUB		—		(2,247	)		(2,247	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	159,509	USD	161,636	4/2/2024	HUB	$	—	$	(2,127	)	$	(2,127	)
BRL	159,509	USD	161,232	4/2/2024	HUB		—		(1,723	)		(1,723	)
BRL	159,509	USD	161,753	4/2/2024	HUB		—		(2,244	)		(2,244	)
BRL	159,509	USD	161,806	4/2/2024	HUB		—		(2,297	)		(2,297	)
BRL	159,509	USD	161,656	4/2/2024	HUB		—		(2,147	)		(2,147	)
BRL	159,509	USD	161,656	4/2/2024	HUB		—		(2,147	)		(2,147	)
BRL	159,509	USD	161,659	4/2/2024	HUB		—		(2,150	)		(2,150	)
BRL	159,509	USD	161,300	4/2/2024	HUB		—		(1,791	)		(1,791	)
BRL	159,509	USD	161,708	4/2/2024	HUB		—		(2,199	)		(2,199	)
BRL	159,509	USD	161,600	4/2/2024	HUB		—		(2,091	)		(2,091	)
BRL	159,509	USD	161,657	4/2/2024	HUB		—		(2,148	)		(2,148	)
BRL	159,509	USD	161,639	4/2/2024	HUB		—		(2,130	)		(2,130	)
BRL	159,509	USD	161,391	4/2/2024	HUB		—		(1,882	)		(1,882	)
BRL	159,509	USD	161,151	4/2/2024	HUB		—		(1,642	)		(1,642	)
BRL	159,509	USD	161,300	4/2/2024	HUB		—		(1,791	)		(1,791	)
BRL	159,509	USD	161,219	4/2/2024	HUB		—		(1,710	)		(1,710	)
BRL	159,509	USD	161,744	4/2/2024	HUB		—		(2,235	)		(2,235	)
BRL	159,509	USD	161,738	4/2/2024	HUB		—		(2,229	)		(2,229	)
BRL	159,509	USD	161,740	4/2/2024	HUB		—		(2,231	)		(2,231	)
BRL	159,509	USD	160,814	4/2/2024	HUB		—		(1,305	)		(1,305	)
BRL	159,509	USD	161,476	4/2/2024	HUB		—		(1,967	)		(1,967	)
BRL	159,509	USD	161,777	4/2/2024	HUB		—		(2,268	)		(2,268	)
BRL	159,509	USD	161,672	4/2/2024	HUB		—		(2,163	)		(2,163	)
BRL	179,447	USD	181,936	4/2/2024	HUB		—		(2,489	)		(2,489	)
BRL	179,447	USD	181,855	4/2/2024	HUB		—		(2,408	)		(2,408	)
BRL	179,447	USD	181,779	4/2/2024	HUB		—		(2,332	)		(2,332	)
BRL	179,447	USD	181,829	4/2/2024	HUB		—		(2,382	)		(2,382	)
BRL	179,447	USD	181,925	4/2/2024	HUB		—		(2,478	)		(2,478	)
BRL	179,447	USD	181,936	4/2/2024	HUB		—		(2,489	)		(2,489	)
BRL	179,447	USD	181,818	4/2/2024	HUB		—		(2,371	)		(2,371	)
BRL	179,447	USD	181,689	4/2/2024	HUB		—		(2,242	)		(2,242	)
BRL	179,447	USD	181,784	4/2/2024	HUB		—		(2,337	)		(2,337	)
BRL	179,447	USD	181,855	4/2/2024	HUB		—		(2,408	)		(2,408	)
BRL	179,447	USD	181,954	4/2/2024	HUB		—		(2,507	)		(2,507	)
BRL	179,447	USD	181,583	4/2/2024	HUB		—		(2,136	)		(2,136	)
BRL	179,447	USD	181,689	4/2/2024	HUB		—		(2,242	)		(2,242	)
BRL	179,447	USD	181,711	4/2/2024	HUB		—		(2,264	)		(2,264	)
BRL	179,447	USD	181,510	4/2/2024	HUB		—		(2,063	)		(2,063	)
BRL	179,447	USD	181,425	4/2/2024	HUB		—		(1,978	)		(1,978	)
BRL	179,447	USD	181,866	4/2/2024	HUB		—		(2,419	)		(2,419	)
BRL	179,447	USD	181,884	4/2/2024	HUB		—		(2,437	)		(2,437	)
BRL	179,447	USD	181,424	4/2/2024	HUB		—		(1,977	)		(1,977	)
BRL	179,447	USD	181,855	4/2/2024	HUB		—		(2,408	)		(2,408	)
BRL	179,447	USD	181,642	4/2/2024	HUB		—		(2,195	)		(2,195	)
BRL	179,447	USD	181,586	4/2/2024	HUB		—		(2,139	)		(2,139	)
BRL	179,447	USD	181,565	4/2/2024	HUB		—		(2,118	)		(2,118	)
BRL	179,447	USD	181,862	4/2/2024	HUB		—		(2,415	)		(2,415	)
BRL	179,447	USD	181,803	4/2/2024	HUB		—		(2,356	)		(2,356	)
BRL	179,447	USD	181,866	4/2/2024	HUB		—		(2,419	)		(2,419	)
BRL	179,447	USD	181,932	4/2/2024	HUB		—		(2,485	)		(2,485	)
BRL	179,447	USD	181,811	4/2/2024	HUB		—		(2,364	)		(2,364	)
BRL	199,386	USD	202,110	4/2/2024	HUB		—		(2,724	)		(2,724	)
BRL	199,386	USD	202,094	4/2/2024	HUB		—		(2,708	)		(2,708	)
BRL	199,386	USD	202,090	4/2/2024	HUB		—		(2,704	)		(2,704	)
BRL	199,386	USD	202,150	4/2/2024	HUB		—		(2,764	)		(2,764	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	199,386	USD	201,877	4/2/2024	HUB	$	—	$	(2,491	)	$	(2,491	)
BRL	199,386	USD	201,963	4/2/2024	HUB		—		(2,577	)		(2,577	)
BRL	199,386	USD	202,150	4/2/2024	HUB		—		(2,764	)		(2,764	)
BRL	199,386	USD	202,171	4/2/2024	HUB		—		(2,785	)		(2,785	)
BRL	199,386	USD	202,004	4/2/2024	HUB		—		(2,618	)		(2,618	)
BRL	199,386	USD	201,866	4/2/2024	HUB		—		(2,480	)		(2,480	)
BRL	199,386	USD	201,836	4/2/2024	HUB		—		(2,450	)		(2,450	)
BRL	199,386	USD	201,898	4/2/2024	HUB		—		(2,512	)		(2,512	)
BRL	199,386	USD	201,856	4/2/2024	HUB		—		(2,470	)		(2,470	)
BRL	199,386	USD	201,925	4/2/2024	HUB		—		(2,539	)		(2,539	)
BRL	199,386	USD	202,065	4/2/2024	HUB		—		(2,679	)		(2,679	)
BRL	199,386	USD	202,065	4/2/2024	HUB		—		(2,679	)		(2,679	)
BRL	199,386	USD	202,188	4/2/2024	HUB		—		(2,802	)		(2,802	)
BRL	199,386	USD	202,171	4/2/2024	HUB		—		(2,785	)		(2,785	)
BRL	199,386	USD	202,048	4/2/2024	HUB		—		(2,662	)		(2,662	)
BRL	199,386	USD	202,142	4/2/2024	HUB		—		(2,756	)		(2,756	)
BRL	199,386	USD	202,203	4/2/2024	HUB		—		(2,817	)		(2,817	)
BRL	199,386	USD	202,106	4/2/2024	HUB		—		(2,720	)		(2,720	)
BRL	219,324	USD	222,239	4/2/2024	HUB		—		(2,915	)		(2,915	)
BRL	219,324	USD	222,249	4/2/2024	HUB		—		(2,925	)		(2,925	)
BRL	219,324	USD	222,253	4/2/2024	HUB		—		(2,929	)		(2,929	)
BRL	219,324	USD	222,204	4/2/2024	HUB		—		(2,880	)		(2,880	)
BRL	219,324	USD	222,348	4/2/2024	HUB		—		(3,024	)		(3,024	)
BRL	219,324	USD	222,042	4/2/2024	HUB		—		(2,718	)		(2,718	)
BRL	219,324	USD	222,038	4/2/2024	HUB		—		(2,714	)		(2,714	)
BRL	219,324	USD	222,204	4/2/2024	HUB		—		(2,880	)		(2,880	)
BRL	219,324	USD	222,294	4/2/2024	HUB		—		(2,970	)		(2,970	)
BRL	219,324	USD	222,379	4/2/2024	HUB		—		(3,055	)		(3,055	)
BRL	219,324	USD	222,226	4/2/2024	HUB		—		(2,902	)		(2,902	)
BRL	219,324	USD	221,698	4/2/2024	HUB		—		(2,374	)		(2,374	)
BRL	219,324	USD	222,303	4/2/2024	HUB		—		(2,979	)		(2,979	)
BRL	219,324	USD	222,353	4/2/2024	HUB		—		(3,029	)		(3,029	)
BRL	239,263	USD	242,465	4/2/2024	HUB		—		(3,202	)		(3,202	)
BRL	239,263	USD	242,454	4/2/2024	HUB		—		(3,191	)		(3,191	)
BRL	239,263	USD	242,483	4/2/2024	HUB		—		(3,220	)		(3,220	)
BRL	239,263	USD	242,610	4/2/2024	HUB		—		(3,347	)		(3,347	)
BRL	239,263	USD	242,208	4/2/2024	HUB		—		(2,945	)		(2,945	)
BRL	239,263	USD	242,150	4/2/2024	HUB		—		(2,887	)		(2,887	)
BRL	239,263	USD	242,639	4/2/2024	HUB		—		(3,376	)		(3,376	)
BRL	239,263	USD	242,581	4/2/2024	HUB		—		(3,318	)		(3,318	)
BRL	239,263	USD	242,478	4/2/2024	HUB		—		(3,215	)		(3,215	)
BRL	239,263	USD	242,635	4/2/2024	HUB		—		(3,372	)		(3,372	)
BRL	239,263	USD	242,643	4/2/2024	HUB		—		(3,380	)		(3,380	)
BRL	239,263	USD	242,690	4/2/2024	HUB		—		(3,427	)		(3,427	)
BRL	239,263	USD	242,507	4/2/2024	HUB		—		(3,244	)		(3,244	)
BRL	239,263	USD	242,454	4/2/2024	HUB		—		(3,191	)		(3,191	)
BRL	259,202	USD	262,674	4/2/2024	HUB		—		(3,472	)		(3,472	)
BRL	259,202	USD	263,044	4/2/2024	HUB		—		(3,842	)		(3,842	)
BRL	259,202	USD	262,499	4/2/2024	HUB		—		(3,297	)		(3,297	)
BRL	259,202	USD	262,579	4/2/2024	HUB		—		(3,377	)		(3,377	)
BRL	259,202	USD	261,991	4/2/2024	HUB		—		(2,789	)		(2,789	)
BRL	259,202	USD	262,770	4/2/2024	HUB		—		(3,568	)		(3,568	)
BRL	259,202	USD	262,776	4/2/2024	HUB		—		(3,574	)		(3,574	)
BRL	259,202	USD	262,081	4/2/2024	HUB		—		(2,879	)		(2,879	)
BRL	259,202	USD	262,679	4/2/2024	HUB		—		(3,477	)		(3,477	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	279,140	USD	282,996	4/2/2024	HUB	$	—	$	(3,856	)	$	(3,856	)
BRL	279,140	USD	282,996	4/2/2024	HUB		—		(3,856	)		(3,856	)
BRL	279,140	USD	281,055	4/2/2024	HUB		—		(1,915	)		(1,915	)
BRL	279,140	USD	281,057	4/2/2024	HUB		—		(1,917	)		(1,917	)
BRL	279,140	USD	283,080	4/2/2024	HUB		—		(3,940	)		(3,940	)
BRL	279,140	USD	282,127	4/2/2024	HUB		—		(2,987	)		(2,987	)
BRL	279,140	USD	282,025	4/2/2024	HUB		—		(2,885	)		(2,885	)
BRL	279,140	USD	281,848	4/2/2024	HUB		—		(2,708	)		(2,708	)
BRL	279,140	USD	282,765	4/2/2024	HUB		—		(3,625	)		(3,625	)
BRL	279,140	USD	283,048	4/2/2024	HUB		—		(3,908	)		(3,908	)
BRL	279,140	USD	283,071	4/2/2024	HUB		—		(3,931	)		(3,931	)
BRL	279,140	USD	283,049	4/2/2024	HUB		—		(3,909	)		(3,909	)
BRL	299,079	USD	303,196	4/2/2024	HUB		—		(4,117	)		(4,117	)
BRL	299,079	USD	303,325	4/2/2024	HUB		—		(4,246	)		(4,246	)
BRL	299,079	USD	301,526	4/2/2024	HUB		—		(2,447	)		(2,447	)
BRL	299,079	USD	303,196	4/2/2024	HUB		—		(4,117	)		(4,117	)
BRL	299,079	USD	303,171	4/2/2024	HUB		—		(4,092	)		(4,092	)
BRL	299,079	USD	301,947	4/2/2024	HUB		—		(2,868	)		(2,868	)
BRL	299,079	USD	303,037	4/2/2024	HUB		—		(3,958	)		(3,958	)
BRL	299,079	USD	303,077	4/2/2024	HUB		—		(3,998	)		(3,998	)
BRL	299,079	USD	303,059	4/2/2024	HUB		—		(3,980	)		(3,980	)
BRL	299,079	USD	303,447	4/2/2024	HUB		—		(4,368	)		(4,368	)
BRL	299,079	USD	303,392	4/2/2024	HUB		—		(4,313	)		(4,313	)
BRL	319,017	USD	323,417	4/2/2024	HUB		—		(4,400	)		(4,400	)
BRL	319,017	USD	322,638	4/2/2024	HUB		—		(3,621	)		(3,621	)
BRL	319,017	USD	323,376	4/2/2024	HUB		—		(4,359	)		(4,359	)
BRL	319,017	USD	323,295	4/2/2024	HUB		—		(4,278	)		(4,278	)
BRL	319,017	USD	323,261	4/2/2024	HUB		—		(4,244	)		(4,244	)
BRL	319,017	USD	323,363	4/2/2024	HUB		—		(4,346	)		(4,346	)
BRL	319,017	USD	323,321	4/2/2024	HUB		—		(4,304	)		(4,304	)
BRL	319,017	USD	323,513	4/2/2024	HUB		—		(4,496	)		(4,496	)
BRL	338,956	USD	343,594	4/2/2024	HUB		—		(4,638	)		(4,638	)
BRL	338,956	USD	343,737	4/2/2024	HUB		—		(4,781	)		(4,781	)
BRL	338,956	USD	343,379	4/2/2024	HUB		—		(4,423	)		(4,423	)
BRL	338,956	USD	342,528	4/2/2024	HUB		—		(3,572	)		(3,572	)
BRL	338,956	USD	342,857	4/2/2024	HUB		—		(3,901	)		(3,901	)
BRL	338,956	USD	343,531	4/2/2024	HUB		—		(4,575	)		(4,575	)
BRL	338,956	USD	343,427	4/2/2024	HUB		—		(4,471	)		(4,471	)
BRL	338,956	USD	343,807	4/2/2024	HUB		—		(4,851	)		(4,851	)
BRL	358,895	USD	361,236	4/2/2024	HUB		—		(2,341	)		(2,341	)
BRL	358,895	USD	360,962	4/2/2024	HUB		—		(2,067	)		(2,067	)
BRL	358,895	USD	364,030	4/2/2024	HUB		—		(5,135	)		(5,135	)
BRL	358,895	USD	363,911	4/2/2024	HUB		—		(5,016	)		(5,016	)
BRL	358,895	USD	363,891	4/2/2024	HUB		—		(4,996	)		(4,996	)
BRL	358,895	USD	364,003	4/2/2024	HUB		—		(5,108	)		(5,108	)
BRL	358,895	USD	363,990	4/2/2024	HUB		—		(5,095	)		(5,095	)
BRL	358,895	USD	363,953	4/2/2024	HUB		—		(5,058	)		(5,058	)
BRL	378,833	USD	380,914	4/2/2024	HUB		—		(2,081	)		(2,081	)
BRL	378,833	USD	383,939	4/2/2024	HUB		—		(5,106	)		(5,106	)
BRL	398,772	USD	404,538	4/2/2024	HUB		—		(5,766	)		(5,766	)
BRL	398,772	USD	399,984	4/2/2024	HUB		—		(1,212	)		(1,212	)
BRL	398,772	USD	404,046	4/2/2024	HUB		—		(5,274	)		(5,274	)
BRL	398,772	USD	404,449	4/2/2024	HUB		—		(5,677	)		(5,677	)
BRL	418,710	USD	421,636	4/2/2024	HUB		—		(2,926	)		(2,926	)
BRL	418,710	USD	424,234	4/2/2024	HUB		—		(5,524	)		(5,524	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	418,710	USD	424,788	4/2/2024	HUB	$	—	$	(6,078	)	$	(6,078	)
BRL	418,710	USD	424,468	4/2/2024	HUB		—		(5,758	)		(5,758	)
BRL	418,710	USD	424,748	4/2/2024	HUB		—		(6,038	)		(6,038	)
BRL	438,649	USD	444,935	4/2/2024	HUB		—		(6,286	)		(6,286	)
BRL	438,649	USD	441,749	4/2/2024	HUB		—		(3,100	)		(3,100	)
BRL	438,649	USD	444,489	4/2/2024	HUB		—		(5,840	)		(5,840	)
BRL	438,649	USD	444,881	4/2/2024	HUB		—		(6,232	)		(6,232	)
BRL	458,588	USD	462,015	4/2/2024	HUB		—		(3,427	)		(3,427	)
BRL	458,588	USD	464,596	4/2/2024	HUB		—		(6,008	)		(6,008	)
BRL	458,588	USD	464,918	4/2/2024	HUB		—		(6,330	)		(6,330	)
BRL	458,588	USD	465,061	4/2/2024	HUB		—		(6,473	)		(6,473	)
BRL	458,588	USD	465,151	4/2/2024	HUB		—		(6,563	)		(6,563	)
BRL	458,588	USD	465,201	4/2/2024	HUB		—		(6,613	)		(6,613	)
BRL	498,465	USD	505,159	4/2/2024	HUB		—		(6,694	)		(6,694	)
BRL	498,465	USD	505,102	4/2/2024	HUB		—		(6,637	)		(6,637	)
BRL	518,403	USD	525,868	4/2/2024	HUB		—		(7,465	)		(7,465	)
BRL	518,403	USD	525,677	4/2/2024	HUB		—		(7,274	)		(7,274	)
BRL	518,403	USD	526,102	4/2/2024	HUB		—		(7,699	)		(7,699	)
BRL	518,403	USD	526,041	4/2/2024	HUB		—		(7,638	)		(7,638	)
BRL	518,403	USD	525,816	4/2/2024	HUB		—		(7,413	)		(7,413	)
BRL	538,342	USD	545,461	4/2/2024	HUB		—		(7,119	)		(7,119	)
BRL	538,342	USD	545,620	4/2/2024	HUB		—		(7,278	)		(7,278	)
BRL	538,342	USD	545,876	4/2/2024	HUB		—		(7,534	)		(7,534	)
BRL	538,342	USD	545,947	4/2/2024	HUB		—		(7,605	)		(7,605	)
BRL	538,342	USD	546,117	4/2/2024	HUB		—		(7,775	)		(7,775	)
BRL	558,280	USD	563,618	4/2/2024	HUB		—		(5,338	)		(5,338	)
BRL	558,280	USD	562,644	4/2/2024	HUB		—		(4,364	)		(4,364	)
BRL	558,280	USD	562,175	4/2/2024	HUB		—		(3,895	)		(3,895	)
BRL	558,280	USD	561,257	4/2/2024	HUB		—		(2,977	)		(2,977	)
BRL	558,280	USD	566,109	4/2/2024	HUB		—		(7,829	)		(7,829	)
BRL	558,280	USD	566,049	4/2/2024	HUB		—		(7,769	)		(7,769	)
BRL	578,219	USD	582,051	4/2/2024	HUB		—		(3,832	)		(3,832	)
BRL	578,219	USD	581,120	4/2/2024	HUB		—		(2,901	)		(2,901	)
BRL	598,158	USD	605,103	4/2/2024	HUB		—		(6,945	)		(6,945	)
BRL	598,158	USD	601,094	4/2/2024	HUB		—		(2,936	)		(2,936	)
BRL	598,158	USD	606,907	4/2/2024	HUB		—		(8,749	)		(8,749	)
BRL	618,096	USD	626,959	4/2/2024	HUB		—		(8,863	)		(8,863	)
BRL	618,096	USD	625,529	4/2/2024	HUB		—		(7,433	)		(7,433	)
BRL	618,096	USD	620,322	4/2/2024	HUB		—		(2,226	)		(2,226	)
BRL	618,096	USD	626,827	4/2/2024	HUB		—		(8,731	)		(8,731	)
BRL	638,035	USD	641,308	4/2/2024	HUB		—		(3,273	)		(3,273	)
BRL	657,973	USD	667,462	4/2/2024	HUB		—		(9,489	)		(9,489	)
BRL	657,973	USD	665,190	4/2/2024	HUB		—		(7,217	)		(7,217	)
BRL	697,851	USD	705,873	4/2/2024	HUB		—		(8,022	)		(8,022	)
BRL	697,851	USD	702,642	4/2/2024	HUB		—		(4,791	)		(4,791	)
BRL	697,851	USD	702,501	4/2/2024	HUB		—		(4,650	)		(4,650	)
BRL	697,851	USD	700,767	4/2/2024	HUB		—		(2,916	)		(2,916	)
BRL	697,851	USD	706,016	4/2/2024	HUB		—		(8,165	)		(8,165	)
BRL	697,851	USD	705,515	4/2/2024	HUB		—		(7,664	)		(7,664	)
BRL	697,851	USD	701,713	4/2/2024	HUB		—		(3,862	)		(3,862	)
BRL	737,728	USD	741,855	4/2/2024	HUB		—		(4,127	)		(4,127	)
BRL	757,666	USD	766,840	4/2/2024	HUB		—		(9,174	)		(9,174	)
BRL	777,605	USD	781,313	4/2/2024	HUB		—		(3,708	)		(3,708	)
BRL	797,544	USD	806,522	4/2/2024	HUB		—		(8,978	)		(8,978	)
BRL	797,544	USD	801,668	4/2/2024	HUB		—		(4,124	)		(4,124	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	877,298	USD	882,719	4/2/2024	HUB	$	—	$	(5,421	)	$	(5,421	)
BRL	1,036,807	USD	1,040,042	4/2/2024	HUB		—		(3,235	)		(3,235	)
BRL	1,076,684	USD	1,082,273	4/2/2024	HUB		—		(5,589	)		(5,589	)
BRL	1,216,254	USD	1,222,813	4/2/2024	HUB		—		(6,559	)		(6,559	)
BRL	1,296,008	USD	1,302,655	4/2/2024	HUB		—		(6,647	)		(6,647	)
BRL	1,296,008	USD	1,302,083	4/2/2024	HUB		—		(6,075	)		(6,075	)
BRL	1,335,885	USD	1,342,281	4/2/2024	HUB		—		(6,396	)		(6,396	)
BRL	1,555,210	USD	1,560,062	4/2/2024	HUB		—		(4,852	)		(4,852	)
BRL	1,654,903	USD	1,664,027	4/2/2024	HUB		—		(9,124	)		(9,124	)
BRL	1,754,596	USD	1,761,557	4/2/2024	HUB		—		(6,961	)		(6,961	)
BRL	1,774,534	USD	1,784,210	4/2/2024	HUB		—		(9,676	)		(9,676	)
BRL	6,610,750	USD	6,602,417	4/2/2024	HUB		8,333		—			8,333
BRL	7,133,821	USD	7,230,922	4/2/2024	HUB		—		(97,101	)		(97,101	)
BRL	9,323,904	USD	9,446,444	4/2/2024	HUB		—		(122,540	)		(122,540	)
BRL	9,916,125	USD	9,893,401	4/2/2024	HUB		22,724		—			22,724
BRL	13,221,500	USD	13,195,059	4/2/2024	HUB		26,441		—			26,441
BRL	14,267,641	USD	14,439,957	4/2/2024	HUB		—		(172,316	)		(172,316	)
BRL	14,873,729	USD	14,896,242	4/2/2024	HUB		—		(22,513	)		(22,513	)
BRL	14,883,651	USD	14,939,547	4/2/2024	HUB		—		(55,896	)		(55,896	)
BRL	14,883,652	USD	14,971,894	4/2/2024	HUB		—		(88,242	)		(88,242	)
BRL	16,529,090	USD	16,714,215	4/2/2024	HUB		—		(185,125	)		(185,125	)
BRL	16,529,090	USD	16,686,896	4/2/2024	HUB		—		(157,806	)		(157,806	)
BRL	16,529,090	USD	16,726,220	4/2/2024	HUB		—		(197,130	)		(197,130	)
BRL	24,806,085	USD	24,938,675	4/2/2024	HUB		—		(132,590	)		(132,590	)
BRL	29,767,303	USD	29,844,363	4/2/2024	HUB		—		(77,060	)		(77,060	)
USD	35,413,555	BRL	35,460,863	4/2/2024	HUB		—		(47,308	)		(47,308	)
USD	20,090,693	BRL	20,215,874	4/2/2024	HUB		—		(125,181	)		(125,181	)
USD	17,695,954	BRL	17,756,641	4/2/2024	HUB		—		(60,687	)		(60,687	)
USD	17,690,715	BRL	17,756,640	4/2/2024	HUB		—		(65,925	)		(65,925	)
USD	15,299,782	BRL	15,322,692	4/2/2024	HUB		—		(22,910	)		(22,910	)
USD	14,084,277	BRL	14,151,112	4/2/2024	HUB		—		(66,835	)		(66,835	)
USD	14,004,638	BRL	14,010,781	4/2/2024	HUB		—		(6,143	)		(6,143	)
USD	14,001,847	BRL	14,010,781	4/2/2024	HUB		—		(8,934	)		(8,934	)
USD	13,925,075	BRL	13,951,646	4/2/2024	HUB		—		(26,571	)		(26,571	)
USD	7,078,736	BRL	7,092,173	4/2/2024	HUB		—		(13,437	)		(13,437	)
USD	7,077,610	BRL	7,092,173	4/2/2024	HUB		—		(14,563	)		(14,563	)
USD	7,078,483	BRL	7,092,173	4/2/2024	HUB		—		(13,690	)		(13,690	)
USD	5,313,057	BRL	5,339,276	4/2/2024	HUB		—		(26,219	)		(26,219	)
USD	4,753,946	BRL	4,774,989	4/2/2024	HUB		—		(21,043	)		(21,043	)
USD	3,688,158	BRL	3,697,791	4/2/2024	HUB		—		(9,633	)		(9,633	)
USD	3,596,343	BRL	3,602,797	4/2/2024	HUB		—		(6,454	)		(6,454	)
USD	3,342,884	BRL	3,349,683	4/2/2024	HUB		—		(6,799	)		(6,799	)
USD	3,118,023	BRL	3,115,163	4/2/2024	HUB		2,860		—			2,860
USD	3,003,272	BRL	3,020,807	4/2/2024	HUB		—		(17,535	)		(17,535	)
USD	3,003,262	BRL	3,020,807	4/2/2024	HUB		—		(17,545	)		(17,545	)
USD	2,899,821	BRL	2,915,079	4/2/2024	HUB		—		(15,258	)		(15,258	)
USD	2,425,669	BRL	2,432,508	4/2/2024	HUB		—		(6,839	)		(6,839	)
USD	2,418,029	BRL	2,429,503	4/2/2024	HUB		—		(11,474	)		(11,474	)
USD	2,281,976	BRL	2,272,999	4/2/2024	HUB		8,977		—			8,977
USD	2,216,548	BRL	2,226,461	4/2/2024	HUB		—		(9,913	)		(9,913	)
USD	2,173,477	BRL	2,178,833	4/2/2024	HUB		—		(5,356	)		(5,356	)
USD	2,123,991	BRL	2,129,031	4/2/2024	HUB		—		(5,040	)		(5,040	)
USD	1,680,242	BRL	1,674,842	4/2/2024	HUB		5,400		—			5,400
USD	1,226,525	BRL	1,216,254	4/2/2024	HUB		10,271		—			10,271
USD	1,206,855	BRL	1,196,315	4/2/2024	HUB		10,540		—			10,540

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	1,187,826	BRL	1,176,377	4/2/2024	HUB	$	11,449	$	—		$	11,449
USD	1,066,463	BRL	1,056,745	4/2/2024	HUB		9,718		—			9,718
USD	973,250	BRL	972,248	4/2/2024	HUB		1,002		—			1,002
USD	964,814	BRL	957,052	4/2/2024	HUB		7,762		—			7,762
USD	963,152	BRL	957,052	4/2/2024	HUB		6,100		—			6,100
USD	939,722	BRL	937,114	4/2/2024	HUB		2,608		—			2,608
USD	819,279	BRL	817,482	4/2/2024	HUB		1,797		—			1,797
USD	799,393	BRL	797,544	4/2/2024	HUB		1,849		—			1,849
USD	733,574	BRL	737,728	4/2/2024	HUB		—		(4,154	)		(4,154	)
USD	713,592	BRL	717,789	4/2/2024	HUB		—		(4,197	)		(4,197	)
USD	693,497	BRL	697,851	4/2/2024	HUB		—		(4,354	)		(4,354	)
USD	693,484	BRL	697,851	4/2/2024	HUB		—		(4,367	)		(4,367	)
USD	683,994	BRL	677,912	4/2/2024	HUB		6,082		—			6,082
USD	663,847	BRL	657,973	4/2/2024	HUB		5,874		—			5,874
USD	634,357	BRL	638,035	4/2/2024	HUB		—		(3,678	)		(3,678	)
USD	634,031	BRL	638,035	4/2/2024	HUB		—		(4,004	)		(4,004	)
USD	641,553	BRL	638,035	4/2/2024	HUB		3,518		—			3,518
USD	618,960	BRL	618,096	4/2/2024	HUB		864		—			864
USD	605,506	BRL	606,532	4/2/2024	HUB		—		(1,026	)		(1,026	)
USD	605,326	BRL	606,531	4/2/2024	HUB		—		(1,205	)		(1,205	)
USD	604,230	BRL	598,158	4/2/2024	HUB		6,072		—			6,072
USD	581,920	BRL	578,219	4/2/2024	HUB		3,701		—			3,701
USD	541,864	BRL	538,342	4/2/2024	HUB		3,522		—			3,522
USD	541,237	BRL	538,342	4/2/2024	HUB		2,895		—			2,895
USD	526,639	BRL	527,682	4/2/2024	HUB		—		(1,043	)		(1,043	)
USD	515,256	BRL	518,403	4/2/2024	HUB		—		(3,147	)		(3,147	)
USD	515,331	BRL	518,403	4/2/2024	HUB		—		(3,072	)		(3,072	)
USD	521,742	BRL	518,403	4/2/2024	HUB		3,339		—			3,339
USD	521,523	BRL	518,403	4/2/2024	HUB		3,120		—			3,120
USD	523,096	BRL	518,403	4/2/2024	HUB		4,693		—			4,693
USD	521,042	BRL	518,403	4/2/2024	HUB		2,639		—			2,639
USD	502,622	BRL	498,465	4/2/2024	HUB		4,157		—			4,157
USD	500,887	BRL	498,465	4/2/2024	HUB		2,422		—			2,422
USD	503,340	BRL	498,465	4/2/2024	HUB		4,875		—			4,875
USD	501,361	BRL	498,465	4/2/2024	HUB		2,896		—			2,896
USD	475,927	BRL	478,526	4/2/2024	HUB		—		(2,599	)		(2,599	)
USD	475,624	BRL	478,526	4/2/2024	HUB		—		(2,902	)		(2,902	)
USD	475,492	BRL	478,526	4/2/2024	HUB		—		(3,034	)		(3,034	)
USD	480,971	BRL	478,526	4/2/2024	HUB		2,445		—			2,445
USD	481,309	BRL	478,526	4/2/2024	HUB		2,783		—			2,783
USD	480,288	BRL	478,526	4/2/2024	HUB		1,762		—			1,762
USD	479,818	BRL	478,526	4/2/2024	HUB		1,292		—			1,292
USD	481,106	BRL	478,526	4/2/2024	HUB		2,580		—			2,580
USD	481,116	BRL	478,526	4/2/2024	HUB		2,590		—			2,590
USD	480,596	BRL	478,526	4/2/2024	HUB		2,070		—			2,070
USD	481,198	BRL	478,526	4/2/2024	HUB		2,672		—			2,672
USD	480,919	BRL	478,526	4/2/2024	HUB		2,393		—			2,393
USD	481,106	BRL	478,526	4/2/2024	HUB		2,580		—			2,580
USD	481,174	BRL	478,526	4/2/2024	HUB		2,648		—			2,648
USD	480,904	BRL	478,526	4/2/2024	HUB		2,378		—			2,378
USD	481,061	BRL	478,526	4/2/2024	HUB		2,535		—			2,535
USD	457,630	BRL	458,588	4/2/2024	HUB		—		(958	)		(958	)
USD	457,767	BRL	458,588	4/2/2024	HUB		—		(821	)		(821	)
USD	461,201	BRL	458,588	4/2/2024	HUB		2,613		—			2,613
USD	461,301	BRL	458,588	4/2/2024	HUB		2,713		—			2,713

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	461,005	BRL	458,588	4/2/2024	HUB	$	2,417	$	—		$	2,417
USD	463,261	BRL	458,588	4/2/2024	HUB		4,673		—			4,673
USD	460,405	BRL	458,588	4/2/2024	HUB		1,817		—			1,817
USD	461,825	BRL	458,588	4/2/2024	HUB		3,237		—			3,237
USD	460,858	BRL	458,588	4/2/2024	HUB		2,270		—			2,270
USD	461,141	BRL	458,588	4/2/2024	HUB		2,553		—			2,553
USD	461,403	BRL	458,588	4/2/2024	HUB		2,815		—			2,815
USD	437,889	BRL	438,649	4/2/2024	HUB		—		(760	)		(760	)
USD	437,824	BRL	438,649	4/2/2024	HUB		—		(825	)		(825	)
USD	436,246	BRL	438,649	4/2/2024	HUB		—		(2,403	)		(2,403	)
USD	437,602	BRL	438,649	4/2/2024	HUB		—		(1,047	)		(1,047	)
USD	437,898	BRL	438,649	4/2/2024	HUB		—		(751	)		(751	)
USD	441,199	BRL	438,649	4/2/2024	HUB		2,550		—			2,550
USD	441,377	BRL	438,649	4/2/2024	HUB		2,728		—			2,728
USD	441,592	BRL	438,649	4/2/2024	HUB		2,943		—			2,943
USD	441,289	BRL	438,649	4/2/2024	HUB		2,640		—			2,640
USD	442,626	BRL	438,649	4/2/2024	HUB		3,977		—			3,977
USD	440,971	BRL	438,649	4/2/2024	HUB		2,322		—			2,322
USD	438,053	BRL	438,649	4/2/2024	HUB		—		(596	)		(596	)
USD	441,545	BRL	438,649	4/2/2024	HUB		2,896		—			2,896
USD	440,525	BRL	438,649	4/2/2024	HUB		1,876		—			1,876
USD	440,291	BRL	438,649	4/2/2024	HUB		1,642		—			1,642
USD	440,891	BRL	438,649	4/2/2024	HUB		2,242		—			2,242
USD	441,059	BRL	438,649	4/2/2024	HUB		2,410		—			2,410
USD	417,927	BRL	418,710	4/2/2024	HUB		—		(783	)		(783	)
USD	416,132	BRL	418,710	4/2/2024	HUB		—		(2,578	)		(2,578	)
USD	416,105	BRL	418,710	4/2/2024	HUB		—		(2,605	)		(2,605	)
USD	420,968	BRL	418,710	4/2/2024	HUB		2,258		—			2,258
USD	421,103	BRL	418,710	4/2/2024	HUB		2,393		—			2,393
USD	420,808	BRL	418,710	4/2/2024	HUB		2,098		—			2,098
USD	421,568	BRL	418,710	4/2/2024	HUB		2,858		—			2,858
USD	421,010	BRL	418,710	4/2/2024	HUB		2,300		—			2,300
USD	420,428	BRL	418,710	4/2/2024	HUB		1,718		—			1,718
USD	421,156	BRL	418,710	4/2/2024	HUB		2,446		—			2,446
USD	420,791	BRL	418,710	4/2/2024	HUB		2,081		—			2,081
USD	421,220	BRL	418,710	4/2/2024	HUB		2,510		—			2,510
USD	420,959	BRL	418,710	4/2/2024	HUB		2,249		—			2,249
USD	396,198	BRL	398,772	4/2/2024	HUB		—		(2,574	)		(2,574	)
USD	401,244	BRL	398,772	4/2/2024	HUB		2,472		—			2,472
USD	401,265	BRL	398,772	4/2/2024	HUB		2,493		—			2,493
USD	401,292	BRL	398,772	4/2/2024	HUB		2,520		—			2,520
USD	401,381	BRL	398,772	4/2/2024	HUB		2,609		—			2,609
USD	400,802	BRL	398,772	4/2/2024	HUB		2,030		—			2,030
USD	401,276	BRL	398,772	4/2/2024	HUB		2,504		—			2,504
USD	400,803	BRL	398,772	4/2/2024	HUB		2,031		—			2,031
USD	399,529	BRL	398,772	4/2/2024	HUB		757		—			757
USD	376,702	BRL	378,833	4/2/2024	HUB		—		(2,131	)		(2,131	)
USD	380,878	BRL	378,833	4/2/2024	HUB		2,045		—			2,045
USD	380,759	BRL	378,833	4/2/2024	HUB		1,926		—			1,926
USD	381,151	BRL	378,833	4/2/2024	HUB		2,318		—			2,318
USD	381,297	BRL	378,833	4/2/2024	HUB		2,464		—			2,464
USD	381,518	BRL	378,833	4/2/2024	HUB		2,685		—			2,685
USD	380,609	BRL	378,833	4/2/2024	HUB		1,776		—			1,776
USD	381,062	BRL	378,833	4/2/2024	HUB		2,229		—			2,229
USD	380,872	BRL	378,833	4/2/2024	HUB		2,039		—			2,039

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	380,887	BRL	378,833	4/2/2024	HUB	$	2,054	$	—		$	2,054
USD	381,138	BRL	378,833	4/2/2024	HUB		2,305		—			2,305
USD	380,838	BRL	378,833	4/2/2024	HUB		2,005		—			2,005
USD	358,252	BRL	358,895	4/2/2024	HUB		—		(643	)		(643	)
USD	356,620	BRL	358,895	4/2/2024	HUB		—		(2,275	)		(2,275	)
USD	360,866	BRL	358,895	4/2/2024	HUB		1,971		—			1,971
USD	361,085	BRL	358,895	4/2/2024	HUB		2,190		—			2,190
USD	361,599	BRL	358,895	4/2/2024	HUB		2,704		—			2,704
USD	360,281	BRL	358,895	4/2/2024	HUB		1,386		—			1,386
USD	361,019	BRL	358,895	4/2/2024	HUB		2,124		—			2,124
USD	360,794	BRL	358,895	4/2/2024	HUB		1,899		—			1,899
USD	360,794	BRL	358,895	4/2/2024	HUB		1,899		—			1,899
USD	347,744	BRL	348,613	4/2/2024	HUB		—		(869	)		(869	)
USD	337,006	BRL	338,956	4/2/2024	HUB		—		(1,950	)		(1,950	)
USD	338,207	BRL	338,956	4/2/2024	HUB		—		(749	)		(749	)
USD	340,722	BRL	338,956	4/2/2024	HUB		1,766		—			1,766
USD	340,722	BRL	338,956	4/2/2024	HUB		1,766		—			1,766
USD	340,593	BRL	338,956	4/2/2024	HUB		1,637		—			1,637
USD	340,927	BRL	338,956	4/2/2024	HUB		1,971		—			1,971
USD	341,126	BRL	338,956	4/2/2024	HUB		2,170		—			2,170
USD	340,982	BRL	338,956	4/2/2024	HUB		2,026		—			2,026
USD	340,916	BRL	338,956	4/2/2024	HUB		1,960		—			1,960
USD	340,852	BRL	338,956	4/2/2024	HUB		1,896		—			1,896
USD	340,821	BRL	338,956	4/2/2024	HUB		1,865		—			1,865
USD	317,129	BRL	319,017	4/2/2024	HUB		—		(1,888	)		(1,888	)
USD	317,031	BRL	319,017	4/2/2024	HUB		—		(1,986	)		(1,986	)
USD	318,431	BRL	319,017	4/2/2024	HUB		—		(586	)		(586	)
USD	320,705	BRL	319,017	4/2/2024	HUB		1,688		—			1,688
USD	321,123	BRL	319,017	4/2/2024	HUB		2,106		—			2,106
USD	320,943	BRL	319,017	4/2/2024	HUB		1,926		—			1,926
USD	321,130	BRL	319,017	4/2/2024	HUB		2,113		—			2,113
USD	320,872	BRL	319,017	4/2/2024	HUB		1,855		—			1,855
USD	320,907	BRL	319,017	4/2/2024	HUB		1,890		—			1,890
USD	320,868	BRL	319,017	4/2/2024	HUB		1,851		—			1,851
USD	320,834	BRL	319,017	4/2/2024	HUB		1,817		—			1,817
USD	320,956	BRL	319,017	4/2/2024	HUB		1,939		—			1,939
USD	320,737	BRL	319,017	4/2/2024	HUB		1,720		—			1,720
USD	320,738	BRL	319,017	4/2/2024	HUB		1,721		—			1,721
USD	320,777	BRL	319,017	4/2/2024	HUB		1,760		—			1,760
USD	320,660	BRL	319,017	4/2/2024	HUB		1,643		—			1,643
USD	297,274	BRL	299,079	4/2/2024	HUB		—		(1,805	)		(1,805	)
USD	298,635	BRL	299,079	4/2/2024	HUB		—		(444	)		(444	)
USD	298,543	BRL	299,079	4/2/2024	HUB		—		(536	)		(536	)
USD	300,565	BRL	299,079	4/2/2024	HUB		1,486		—			1,486
USD	300,598	BRL	299,079	4/2/2024	HUB		1,519		—			1,519
USD	301,237	BRL	299,079	4/2/2024	HUB		2,158		—			2,158
USD	301,031	BRL	299,079	4/2/2024	HUB		1,952		—			1,952
USD	300,375	BRL	299,079	4/2/2024	HUB		1,296		—			1,296
USD	300,812	BRL	299,079	4/2/2024	HUB		1,733		—			1,733
USD	300,619	BRL	299,079	4/2/2024	HUB		1,540		—			1,540
USD	300,469	BRL	299,079	4/2/2024	HUB		1,390		—			1,390
USD	278,496	BRL	279,140	4/2/2024	HUB		—		(644	)		(644	)
USD	277,535	BRL	279,140	4/2/2024	HUB		—		(1,605	)		(1,605	)
USD	280,872	BRL	279,140	4/2/2024	HUB		1,732		—			1,732
USD	281,023	BRL	279,140	4/2/2024	HUB		1,883		—			1,883

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	280,651	BRL	279,140	4/2/2024	HUB	$	1,511	$	—		$	1,511
USD	280,600	BRL	279,140	4/2/2024	HUB		1,460		—			1,460
USD	280,763	BRL	279,140	4/2/2024	HUB		1,623		—			1,623
USD	281,021	BRL	279,140	4/2/2024	HUB		1,881		—			1,881
USD	280,660	BRL	279,140	4/2/2024	HUB		1,520		—			1,520
USD	281,497	BRL	279,140	4/2/2024	HUB		2,357		—			2,357
USD	280,461	BRL	279,140	4/2/2024	HUB		1,321		—			1,321
USD	280,173	BRL	279,140	4/2/2024	HUB		1,033		—			1,033
USD	280,727	BRL	279,140	4/2/2024	HUB		1,587		—			1,587
USD	260,491	BRL	259,202	4/2/2024	HUB		1,289		—			1,289
USD	260,814	BRL	259,202	4/2/2024	HUB		1,612		—			1,612
USD	260,975	BRL	259,202	4/2/2024	HUB		1,773		—			1,773
USD	261,465	BRL	259,202	4/2/2024	HUB		2,263		—			2,263
USD	257,592	BRL	259,202	4/2/2024	HUB		—		(1,610	)		(1,610	)
USD	258,697	BRL	259,202	4/2/2024	HUB		—		(505	)		(505	)
USD	260,730	BRL	259,202	4/2/2024	HUB		1,528		—			1,528
USD	261,018	BRL	259,202	4/2/2024	HUB		1,816		—			1,816
USD	260,703	BRL	259,202	4/2/2024	HUB		1,501		—			1,501
USD	260,285	BRL	259,202	4/2/2024	HUB		1,083		—			1,083
USD	260,498	BRL	259,202	4/2/2024	HUB		1,296		—			1,296
USD	261,048	BRL	259,202	4/2/2024	HUB		1,846		—			1,846
USD	260,761	BRL	259,202	4/2/2024	HUB		1,559		—			1,559
USD	260,412	BRL	259,202	4/2/2024	HUB		1,210		—			1,210
USD	241,308	BRL	239,263	4/2/2024	HUB		2,045		—			2,045
USD	241,410	BRL	239,263	4/2/2024	HUB		2,147		—			2,147
USD	238,937	BRL	239,263	4/2/2024	HUB		—		(326	)		(326	)
USD	240,537	BRL	239,263	4/2/2024	HUB		1,274		—			1,274
USD	240,727	BRL	239,263	4/2/2024	HUB		1,464		—			1,464
USD	240,630	BRL	239,263	4/2/2024	HUB		1,367		—			1,367
USD	240,530	BRL	239,263	4/2/2024	HUB		1,267		—			1,267
USD	240,824	BRL	239,263	4/2/2024	HUB		1,561		—			1,561
USD	240,673	BRL	239,263	4/2/2024	HUB		1,410		—			1,410
USD	240,476	BRL	239,263	4/2/2024	HUB		1,213		—			1,213
USD	240,804	BRL	239,263	4/2/2024	HUB		1,541		—			1,541
USD	240,684	BRL	239,263	4/2/2024	HUB		1,421		—			1,421
USD	240,585	BRL	239,263	4/2/2024	HUB		1,322		—			1,322
USD	240,303	BRL	239,263	4/2/2024	HUB		1,040		—			1,040
USD	221,284	BRL	219,325	4/2/2024	HUB		1,959		—			1,959
USD	221,173	BRL	219,325	4/2/2024	HUB		1,848		—			1,848
USD	220,089	BRL	219,325	4/2/2024	HUB		764		—			764
USD	218,819	BRL	219,325	4/2/2024	HUB		—		(506	)		(506	)
USD	218,915	BRL	219,325	4/2/2024	HUB		—		(410	)		(410	)
USD	218,984	BRL	219,325	4/2/2024	HUB		—		(341	)		(341	)
USD	218,064	BRL	219,325	4/2/2024	HUB		—		(1,261	)		(1,261	)
USD	218,857	BRL	219,325	4/2/2024	HUB		—		(468	)		(468	)
USD	220,574	BRL	219,325	4/2/2024	HUB		1,249		—			1,249
USD	221,070	BRL	219,325	4/2/2024	HUB		1,745		—			1,745
USD	220,888	BRL	219,325	4/2/2024	HUB		1,563		—			1,563
USD	220,621	BRL	219,325	4/2/2024	HUB		1,296		—			1,296
USD	220,985	BRL	219,325	4/2/2024	HUB		1,660		—			1,660
USD	220,872	BRL	219,325	4/2/2024	HUB		1,547		—			1,547
USD	220,570	BRL	219,325	4/2/2024	HUB		1,245		—			1,245
USD	220,592	BRL	219,325	4/2/2024	HUB		1,267		—			1,267
USD	220,459	BRL	219,325	4/2/2024	HUB		1,134		—			1,134
USD	220,261	BRL	219,325	4/2/2024	HUB		936		—			936

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	200,441	BRL	199,386	4/2/2024	HUB	$	1,055	$	—		$	1,055
USD	200,770	BRL	199,386	4/2/2024	HUB		1,384		—			1,384
USD	200,790	BRL	199,386	4/2/2024	HUB		1,404		—			1,404
USD	199,025	BRL	199,386	4/2/2024	HUB		—		(361	)		(361	)
USD	200,405	BRL	199,386	4/2/2024	HUB		1,019		—			1,019
USD	200,483	BRL	199,386	4/2/2024	HUB		1,097		—			1,097
USD	200,528	BRL	199,386	4/2/2024	HUB		1,142		—			1,142
USD	200,667	BRL	199,386	4/2/2024	HUB		1,281		—			1,281
USD	200,600	BRL	199,386	4/2/2024	HUB		1,214		—			1,214
USD	201,015	BRL	199,386	4/2/2024	HUB		1,629		—			1,629
USD	200,743	BRL	199,386	4/2/2024	HUB		1,357		—			1,357
USD	200,846	BRL	199,386	4/2/2024	HUB		1,460		—			1,460
USD	200,811	BRL	199,386	4/2/2024	HUB		1,425		—			1,425
USD	200,767	BRL	199,386	4/2/2024	HUB		1,381		—			1,381
USD	200,298	BRL	199,386	4/2/2024	HUB		912		—			912
USD	200,310	BRL	199,386	4/2/2024	HUB		924		—			924
USD	201,387	BRL	199,386	4/2/2024	HUB		2,001		—			2,001
USD	200,360	BRL	199,386	4/2/2024	HUB		974		—			974
USD	201,009	BRL	199,386	4/2/2024	HUB		1,623		—			1,623
USD	200,582	BRL	199,386	4/2/2024	HUB		1,196		—			1,196
USD	200,417	BRL	199,386	4/2/2024	HUB		1,031		—			1,031
USD	200,429	BRL	199,386	4/2/2024	HUB		1,043		—			1,043
USD	180,730	BRL	179,447	4/2/2024	HUB		1,283		—			1,283
USD	180,926	BRL	179,447	4/2/2024	HUB		1,479		—			1,479
USD	180,491	BRL	179,447	4/2/2024	HUB		1,044		—			1,044
USD	180,583	BRL	179,447	4/2/2024	HUB		1,136		—			1,136
USD	180,469	BRL	179,447	4/2/2024	HUB		1,022		—			1,022
USD	180,781	BRL	179,447	4/2/2024	HUB		1,334		—			1,334
USD	180,745	BRL	179,447	4/2/2024	HUB		1,298		—			1,298
USD	180,525	BRL	179,447	4/2/2024	HUB		1,078		—			1,078
USD	180,338	BRL	179,447	4/2/2024	HUB		891		—			891
USD	180,658	BRL	179,447	4/2/2024	HUB		1,211		—			1,211
USD	180,451	BRL	179,447	4/2/2024	HUB		1,004		—			1,004
USD	180,232	BRL	179,447	4/2/2024	HUB		785		—			785
USD	180,560	BRL	179,447	4/2/2024	HUB		1,113		—			1,113
USD	180,564	BRL	179,447	4/2/2024	HUB		1,117		—			1,117
USD	180,381	BRL	179,447	4/2/2024	HUB		934		—			934
USD	160,260	BRL	159,509	4/2/2024	HUB		751		—			751
USD	160,634	BRL	159,509	4/2/2024	HUB		1,125		—			1,125
USD	160,743	BRL	159,509	4/2/2024	HUB		1,234		—			1,234
USD	160,856	BRL	159,509	4/2/2024	HUB		1,347		—			1,347
USD	160,326	BRL	159,509	4/2/2024	HUB		817		—			817
USD	160,840	BRL	159,509	4/2/2024	HUB		1,331		—			1,331
USD	160,698	BRL	159,509	4/2/2024	HUB		1,189		—			1,189
USD	160,584	BRL	159,509	4/2/2024	HUB		1,075		—			1,075
USD	160,643	BRL	159,509	4/2/2024	HUB		1,134		—			1,134
USD	160,579	BRL	159,509	4/2/2024	HUB		1,070		—			1,070
USD	160,616	BRL	159,509	4/2/2024	HUB		1,107		—			1,107
USD	160,357	BRL	159,509	4/2/2024	HUB		848		—			848
USD	140,557	BRL	139,570	4/2/2024	HUB		987		—			987
USD	140,540	BRL	139,570	4/2/2024	HUB		970		—			970
USD	140,523	BRL	139,570	4/2/2024	HUB		953		—			953
USD	140,664	BRL	139,570	4/2/2024	HUB		1,094		—			1,094
USD	140,598	BRL	139,570	4/2/2024	HUB		1,028		—			1,028
USD	140,483	BRL	139,570	4/2/2024	HUB		913		—			913

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)		Net Unrealized Appreciation (Depreciation)
USD	140,281	BRL	139,570	4/2/2024	HUB	$	711	$	—	$	711
USD	140,224	BRL	139,570	4/2/2024	HUB		654		—		654
USD	140,157	BRL	139,570	4/2/2024	HUB		587		—		587
USD	140,239	BRL	139,570	4/2/2024	HUB		669		—		669
USD	119,835	BRL	119,632	4/2/2024	HUB		203		—		203
USD	120,605	BRL	119,632	4/2/2024	HUB		973		—		973
USD	120,598	BRL	119,632	4/2/2024	HUB		966		—		966
USD	120,630	BRL	119,632	4/2/2024	HUB		998		—		998
USD	120,015	BRL	119,632	4/2/2024	HUB		383		—		383
USD	119,869	BRL	119,632	4/2/2024	HUB		237		—		237
USD	120,063	BRL	119,632	4/2/2024	HUB		431		—		431
USD	120,012	BRL	119,632	4/2/2024	HUB		380		—		380
USD	120,061	BRL	119,632	4/2/2024	HUB		429		—		429
USD	119,857	BRL	119,632	4/2/2024	HUB		225		—		225
USD	119,845	BRL	119,632	4/2/2024	HUB		213		—		213
USD	119,830	BRL	119,632	4/2/2024	HUB		198		—		198
USD	119,890	BRL	119,632	4/2/2024	HUB		258		—		258
USD	120,027	BRL	119,632	4/2/2024	HUB		395		—		395
USD	119,976	BRL	119,632	4/2/2024	HUB		344		—		344
USD	119,893	BRL	119,632	4/2/2024	HUB		261		—		261
USD	120,207	BRL	119,632	4/2/2024	HUB		575		—		575
USD	120,499	BRL	119,632	4/2/2024	HUB		867		—		867
USD	120,169	BRL	119,632	4/2/2024	HUB		537		—		537
USD	120,476	BRL	119,632	4/2/2024	HUB		844		—		844
USD	120,190	BRL	119,632	4/2/2024	HUB		558		—		558
USD	100,002	BRL	99,693	4/2/2024	HUB		309		—		309
USD	100,353	BRL	99,693	4/2/2024	HUB		660		—		660
USD	100,022	BRL	99,693	4/2/2024	HUB		329		—		329
USD	100,526	BRL	99,693	4/2/2024	HUB		833		—		833
USD	100,100	BRL	99,693	4/2/2024	HUB		407		—		407
USD	100,020	BRL	99,693	4/2/2024	HUB		327		—		327
USD	99,950	BRL	99,693	4/2/2024	HUB		257		—		257
USD	100,150	BRL	99,693	4/2/2024	HUB		457		—		457
USD	99,970	BRL	99,693	4/2/2024	HUB		277		—		277
USD	99,852	BRL	99,693	4/2/2024	HUB		159		—		159
USD	99,850	BRL	99,693	4/2/2024	HUB		157		—		157
USD	99,850	BRL	99,693	4/2/2024	HUB		157		—		157
USD	99,872	BRL	99,693	4/2/2024	HUB		179		—		179
USD	99,860	BRL	99,693	4/2/2024	HUB		167		—		167
USD	100,011	BRL	99,693	4/2/2024	HUB		318		—		318
USD	100,026	BRL	99,693	4/2/2024	HUB		333		—		333
USD	99,958	BRL	99,693	4/2/2024	HUB		265		—		265
USD	100,434	BRL	99,693	4/2/2024	HUB		741		—		741
USD	100,479	BRL	99,693	4/2/2024	HUB		786		—		786
USD	100,486	BRL	99,693	4/2/2024	HUB		793		—		793
USD	100,362	BRL	99,693	4/2/2024	HUB		669		—		669
USD	100,406	BRL	99,693	4/2/2024	HUB		713		—		713
USD	100,353	BRL	99,693	4/2/2024	HUB		660		—		660
USD	100,565	BRL	99,693	4/2/2024	HUB		872		—		872
USD	100,130	BRL	99,693	4/2/2024	HUB		437		—		437
USD	100,032	BRL	99,693	4/2/2024	HUB		339		—		339
USD	100,010	BRL	99,693	4/2/2024	HUB		317		—		317
USD	100,193	BRL	99,693	4/2/2024	HUB		500		—		500
USD	79,971	BRL	79,754	4/2/2024	HUB		217		—		217
USD	79,913	BRL	79,754	4/2/2024	HUB		159		—		159

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	80,069	BRL	79,754	4/2/2024	HUB	$	315	$	—		$	315
USD	80,041	BRL	79,754	4/2/2024	HUB		287		—			287
USD	80,017	BRL	79,754	4/2/2024	HUB		263		—			263
USD	80,001	BRL	79,754	4/2/2024	HUB		247		—			247
USD	79,944	BRL	79,754	4/2/2024	HUB		190		—			190
USD	79,968	BRL	79,754	4/2/2024	HUB		214		—			214
USD	79,928	BRL	79,754	4/2/2024	HUB		174		—			174
USD	80,397	BRL	79,754	4/2/2024	HUB		643		—			643
USD	80,308	BRL	79,754	4/2/2024	HUB		554		—			554
USD	80,332	BRL	79,754	4/2/2024	HUB		578		—			578
USD	80,365	BRL	79,754	4/2/2024	HUB		611		—			611
USD	80,411	BRL	79,754	4/2/2024	HUB		657		—			657
USD	80,347	BRL	79,754	4/2/2024	HUB		593		—			593
USD	80,388	BRL	79,754	4/2/2024	HUB		634		—			634
USD	80,008	BRL	79,754	4/2/2024	HUB		254		—			254
USD	59,959	BRL	59,816	4/2/2024	HUB		143		—			143
USD	60,001	BRL	59,816	4/2/2024	HUB		185		—			185
USD	60,006	BRL	59,816	4/2/2024	HUB		190		—			190
USD	59,936	BRL	59,816	4/2/2024	HUB		120		—			120
USD	59,996	BRL	59,816	4/2/2024	HUB		180		—			180
USD	60,013	BRL	59,816	4/2/2024	HUB		197		—			197
USD	59,971	BRL	59,816	4/2/2024	HUB		155		—			155
USD	60,030	BRL	59,816	4/2/2024	HUB		214		—			214
USD	60,042	BRL	59,816	4/2/2024	HUB		226		—			226
USD	60,004	BRL	59,816	4/2/2024	HUB		188		—			188
USD	60,018	BRL	59,816	4/2/2024	HUB		202		—			202
USD	59,970	BRL	59,816	4/2/2024	HUB		154		—			154
USD	59,976	BRL	59,816	4/2/2024	HUB		160		—			160
USD	60,031	BRL	59,816	4/2/2024	HUB		215		—			215
USD	60,018	BRL	59,816	4/2/2024	HUB		202		—			202
USD	59,994	BRL	59,816	4/2/2024	HUB		178		—			178
USD	59,988	BRL	59,816	4/2/2024	HUB		172		—			172
USD	59,976	BRL	59,816	4/2/2024	HUB		160		—			160
USD	59,947	BRL	59,816	4/2/2024	HUB		131		—			131
USD	60,226	BRL	59,816	4/2/2024	HUB		410		—			410
USD	60,000	BRL	59,816	4/2/2024	HUB		184		—			184
USD	39,961	BRL	39,877	4/2/2024	HUB		84		—			84
USD	40,017	BRL	39,877	4/2/2024	HUB		140		—			140
USD	39,961	BRL	39,877	4/2/2024	HUB		84		—			84
USD	39,979	BRL	39,877	4/2/2024	HUB		102		—			102
USD	39,945	BRL	39,877	4/2/2024	HUB		68		—			68
USD	40,060	BRL	39,877	4/2/2024	HUB		183		—			183
USD	40,032	BRL	39,877	4/2/2024	HUB		155		—			155
CNY	69,221	USD	70,429	4/8/2024	HUB		—		(1,208	)		(1,208	)
CNY	69,221	USD	70,342	4/8/2024	HUB		—		(1,121	)		(1,121	)
CNY	69,221	USD	70,452	4/8/2024	HUB		—		(1,231	)		(1,231	)
CNY	1,176,752	USD	1,197,353	4/8/2024	HUB		—		(20,601	)		(20,601	)
USD	1,268,011	CNY	1,245,973	4/8/2024	HUB		22,038		—			22,038
USD	140,960	CNY	138,441	4/8/2024	HUB		2,519		—			2,519
USD	62,855,987	EUR	61,995,258	4/18/2024	HUB		860,729		—			860,729
USD	28,659,626	KRW	28,249,265	4/18/2024	HUB		410,361		—			410,361
USD	26,854,268	AUD	26,844,397	4/18/2024	HUB		9,871		—			9,871
USD	27,013,971	EUR	26,744,428	4/18/2024	HUB		269,543		—			269,543
USD	26,011,779	JPY	25,795,960	4/18/2024	HUB		215,819		—			215,819
PHP	44,459	USD	45,121	4/19/2024	HUB		—		(662	)		(662	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
PHP	44,459	USD	45,118	4/19/2024	HUB	$	—	$	(659	)	$	(659	)
PHP	44,459	USD	45,125	4/19/2024	HUB		—		(666	)		(666	)
PHP	44,459	USD	45,127	4/19/2024	HUB		—		(668	)		(668	)
PHP	44,459	USD	45,127	4/19/2024	HUB		—		(668	)		(668	)
PHP	44,459	USD	45,139	4/19/2024	HUB		—		(680	)		(680	)
PHP	44,459	USD	45,141	4/19/2024	HUB		—		(682	)		(682	)
PHP	44,459	USD	45,011	4/19/2024	HUB		—		(552	)		(552	)
PHP	44,459	USD	45,123	4/19/2024	HUB		—		(664	)		(664	)
PHP	88,917	USD	90,286	4/19/2024	HUB		—		(1,369	)		(1,369	)
PHP	88,917	USD	90,265	4/19/2024	HUB		—		(1,348	)		(1,348	)
PHP	88,917	USD	90,238	4/19/2024	HUB		—		(1,321	)		(1,321	)
PHP	88,917	USD	90,009	4/19/2024	HUB		—		(1,092	)		(1,092	)
PHP	88,917	USD	90,010	4/19/2024	HUB		—		(1,093	)		(1,093	)
PHP	88,917	USD	90,424	4/19/2024	HUB		—		(1,507	)		(1,507	)
PHP	88,917	USD	89,981	4/19/2024	HUB		—		(1,064	)		(1,064	)
PHP	88,917	USD	89,966	4/19/2024	HUB		—		(1,049	)		(1,049	)
PHP	88,917	USD	90,022	4/19/2024	HUB		—		(1,105	)		(1,105	)
PHP	88,917	USD	90,015	4/19/2024	HUB		—		(1,098	)		(1,098	)
PHP	133,376	USD	134,977	4/19/2024	HUB		—		(1,601	)		(1,601	)
PHP	133,376	USD	134,943	4/19/2024	HUB		—		(1,567	)		(1,567	)
PHP	133,376	USD	135,026	4/19/2024	HUB		—		(1,650	)		(1,650	)
PHP	133,376	USD	135,033	4/19/2024	HUB		—		(1,657	)		(1,657	)
PHP	133,376	USD	135,516	4/19/2024	HUB		—		(2,140	)		(2,140	)
PHP	133,376	USD	135,634	4/19/2024	HUB		—		(2,258	)		(2,258	)
PHP	133,376	USD	134,962	4/19/2024	HUB		—		(1,586	)		(1,586	)
PHP	133,376	USD	135,010	4/19/2024	HUB		—		(1,634	)		(1,634	)
PHP	177,834	USD	180,011	4/19/2024	HUB		—		(2,177	)		(2,177	)
PHP	177,834	USD	179,998	4/19/2024	HUB		—		(2,164	)		(2,164	)
PHP	177,834	USD	180,044	4/19/2024	HUB		—		(2,210	)		(2,210	)
PHP	177,834	USD	180,568	4/19/2024	HUB		—		(2,734	)		(2,734	)
PHP	177,834	USD	180,774	4/19/2024	HUB		—		(2,940	)		(2,940	)
PHP	177,834	USD	180,843	4/19/2024	HUB		—		(3,009	)		(3,009	)
PHP	177,834	USD	180,840	4/19/2024	HUB		—		(3,006	)		(3,006	)
PHP	177,834	USD	179,917	4/19/2024	HUB		—		(2,083	)		(2,083	)
PHP	177,834	USD	180,034	4/19/2024	HUB		—		(2,200	)		(2,200	)
PHP	222,293	USD	225,836	4/19/2024	HUB		—		(3,543	)		(3,543	)
PHP	222,293	USD	225,722	4/19/2024	HUB		—		(3,429	)		(3,429	)
PHP	222,293	USD	225,807	4/19/2024	HUB		—		(3,514	)		(3,514	)
PHP	222,293	USD	226,058	4/19/2024	HUB		—		(3,765	)		(3,765	)
PHP	222,293	USD	226,042	4/19/2024	HUB		—		(3,749	)		(3,749	)
PHP	222,293	USD	225,031	4/19/2024	HUB		—		(2,738	)		(2,738	)
PHP	222,293	USD	224,943	4/19/2024	HUB		—		(2,650	)		(2,650	)
KRW	223,051	USD	228,494	4/19/2024	HUB		—		(5,443	)		(5,443	)
PHP	266,751	USD	271,105	4/19/2024	HUB		—		(4,354	)		(4,354	)
PHP	266,751	USD	271,037	4/19/2024	HUB		—		(4,286	)		(4,286	)
PHP	266,751	USD	271,269	4/19/2024	HUB		—		(4,518	)		(4,518	)
PHP	266,751	USD	271,194	4/19/2024	HUB		—		(4,443	)		(4,443	)
PHP	266,751	USD	271,301	4/19/2024	HUB		—		(4,550	)		(4,550	)
PHP	266,751	USD	269,930	4/19/2024	HUB		—		(3,179	)		(3,179	)
PHP	311,210	USD	315,953	4/19/2024	HUB		—		(4,743	)		(4,743	)
PHP	311,210	USD	316,440	4/19/2024	HUB		—		(5,230	)		(5,230	)
PHP	311,210	USD	316,456	4/19/2024	HUB		—		(5,246	)		(5,246	)
PHP	311,210	USD	316,522	4/19/2024	HUB		—		(5,312	)		(5,312	)
PHP	355,668	USD	361,095	4/19/2024	HUB		—		(5,427	)		(5,427	)
PHP	355,668	USD	361,382	4/19/2024	HUB		—		(5,714	)		(5,714	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
PHP	355,668	USD	361,717	4/19/2024	HUB	$	—	$	(6,049	)	$	(6,049	)
PHP	355,668	USD	361,141	4/19/2024	HUB		—		(5,473	)		(5,473	)
PHP	355,668	USD	361,141	4/19/2024	HUB		—		(5,473	)		(5,473	)
PHP	355,668	USD	361,405	4/19/2024	HUB		—		(5,737	)		(5,737	)
PHP	355,668	USD	361,722	4/19/2024	HUB		—		(6,054	)		(6,054	)
PHP	400,127	USD	406,301	4/19/2024	HUB		—		(6,174	)		(6,174	)
PHP	400,127	USD	406,409	4/19/2024	HUB		—		(6,282	)		(6,282	)
PHP	400,127	USD	406,644	4/19/2024	HUB		—		(6,517	)		(6,517	)
PHP	400,127	USD	406,570	4/19/2024	HUB		—		(6,443	)		(6,443	)
PHP	444,585	USD	451,386	4/19/2024	HUB		—		(6,801	)		(6,801	)
PHP	444,585	USD	452,064	4/19/2024	HUB		—		(7,479	)		(7,479	)
PHP	444,585	USD	451,876	4/19/2024	HUB		—		(7,291	)		(7,291	)
PHP	489,044	USD	496,973	4/19/2024	HUB		—		(7,929	)		(7,929	)
PHP	489,044	USD	497,225	4/19/2024	HUB		—		(8,181	)		(8,181	)
KRW	594,803	USD	612,347	4/19/2024	HUB		—		(17,544	)		(17,544	)
KRW	743,504	USD	762,365	4/19/2024	HUB		—		(18,861	)		(18,861	)
PHP	829,893	USD	843,510	4/19/2024	HUB		—		(13,617	)		(13,617	)
KRW	1,040,905	USD	1,057,734	4/19/2024	HUB		—		(16,829	)		(16,829	)
KRW	1,338,306	USD	1,360,156	4/19/2024	HUB		—		(21,850	)		(21,850	)
KRW	1,561,357	USD	1,599,347	4/19/2024	HUB		—		(37,990	)		(37,990	)
KRW	1,710,058	USD	1,754,453	4/19/2024	HUB		—		(44,395	)		(44,395	)
PHP	1,978,405	USD	2,007,833	4/19/2024	HUB		—		(29,428	)		(29,428	)
PHP	1,978,405	USD	2,007,760	4/19/2024	HUB		—		(29,355	)		(29,355	)
KRW	2,007,460	USD	2,039,399	4/19/2024	HUB		—		(31,939	)		(31,939	)
KRW	2,007,460	USD	2,039,040	4/19/2024	HUB		—		(31,580	)		(31,580	)
KRW	2,081,810	USD	2,137,321	4/19/2024	HUB		—		(55,511	)		(55,511	)
PHP	2,092,756	USD	2,127,394	4/19/2024	HUB		—		(34,638	)		(34,638	)
PHP	2,178,468	USD	2,206,809	4/19/2024	HUB		—		(28,341	)		(28,341	)
PHP	2,578,595	USD	2,617,130	4/19/2024	HUB		—		(38,535	)		(38,535	)
PHP	2,578,595	USD	2,614,591	4/19/2024	HUB		—		(35,996	)		(35,996	)
PHP	2,667,512	USD	2,708,265	4/19/2024	HUB		—		(40,753	)		(40,753	)
PHP	2,667,512	USD	2,705,627	4/19/2024	HUB		—		(38,115	)		(38,115	)
PHP	2,797,684	USD	2,843,948	4/19/2024	HUB		—		(46,264	)		(46,264	)
KRW	2,974,014	USD	3,053,990	4/19/2024	HUB		—		(79,976	)		(79,976	)
PHP	3,126,917	USD	3,175,543	4/19/2024	HUB		—		(48,626	)		(48,626	)
KRW	3,345,766	USD	3,439,894	4/19/2024	HUB		—		(94,128	)		(94,128	)
KRW	4,609,722	USD	4,741,180	4/19/2024	HUB		—		(131,458	)		(131,458	)
KRW	4,609,722	USD	4,746,580	4/19/2024	HUB		—		(136,858	)		(136,858	)
KRW	4,684,072	USD	4,811,721	4/19/2024	HUB		—		(127,649	)		(127,649	)
PHP	4,934,898	USD	5,009,206	4/19/2024	HUB		—		(74,308	)		(74,308	)
USD	5,417,643	KRW	5,353,226	4/19/2024	HUB		64,417		—			64,417
USD	4,127,983	KRW	4,089,270	4/19/2024	HUB		38,713		—			38,713
USD	3,698,574	PHP	3,699,615	4/19/2024	HUB		—		(1,041	)		(1,041	)
USD	2,937,593	PHP	2,924,890	4/19/2024	HUB		12,703		—			12,703
USD	2,737,728	PHP	2,741,610	4/19/2024	HUB		—		(3,882	)		(3,882	)
USD	2,619,042	PHP	2,624,064	4/19/2024	HUB		—		(5,022	)		(5,022	)
USD	2,555,747	PHP	2,557,285	4/19/2024	HUB		—		(1,538	)		(1,538	)
USD	2,539,585	PHP	2,546,262	4/19/2024	HUB		—		(6,677	)		(6,677	)
USD	2,365,087	PHP	2,368,091	4/19/2024	HUB		—		(3,004	)		(3,004	)
USD	2,252,003	PHP	2,255,597	4/19/2024	HUB		—		(3,594	)		(3,594	)
USD	2,116,400	PHP	2,121,885	4/19/2024	HUB		—		(5,485	)		(5,485	)
USD	2,084,599	PHP	2,088,541	4/19/2024	HUB		—		(3,942	)		(3,942	)
USD	2,036,936	KRW	2,007,460	4/19/2024	HUB		29,476		—			29,476
USD	1,879,660	PHP	1,882,078	4/19/2024	HUB		—		(2,418	)		(2,418	)
USD	1,645,293	PHP	1,644,966	4/19/2024	HUB		327		—			327

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	1,650,735	KRW	1,635,708	4/19/2024	HUB	$	15,027	$	—		$	15,027
USD	1,610,177	PHP	1,611,089	4/19/2024	HUB		—		(912	)		(912	)
USD	1,350,590	KRW	1,338,306	4/19/2024	HUB		12,284		—			12,284
USD	1,242,137	PHP	1,244,839	4/19/2024	HUB		—		(2,702	)		(2,702	)
USD	1,165,701	PHP	1,166,651	4/19/2024	HUB		—		(950	)		(950	)
USD	1,012,534	PHP	1,012,990	4/19/2024	HUB		—		(456	)		(456	)
USD	905,523	KRW	892,204	4/19/2024	HUB		13,319		—			13,319
USD	900,326	KRW	892,204	4/19/2024	HUB		8,122		—			8,122
USD	899,948	KRW	892,204	4/19/2024	HUB		7,744		—			7,744
USD	803,654	PHP	800,254	4/19/2024	HUB		3,400		—			3,400
USD	753,049	KRW	743,504	4/19/2024	HUB		9,545		—			9,545
USD	749,984	KRW	743,504	4/19/2024	HUB		6,480		—			6,480
USD	620,744	PHP	622,420	4/19/2024	HUB		—		(1,676	)		(1,676	)
USD	601,346	KRW	594,803	4/19/2024	HUB		6,543		—			6,543
USD	578,498	PHP	577,961	4/19/2024	HUB		537		—			537
USD	526,639	KRW	520,453	4/19/2024	HUB		6,186		—			6,186
USD	525,335	KRW	520,453	4/19/2024	HUB		4,882		—			4,882
USD	525,116	KRW	520,453	4/19/2024	HUB		4,663		—			4,663
USD	525,364	KRW	520,453	4/19/2024	HUB		4,911		—			4,911
USD	451,452	KRW	446,102	4/19/2024	HUB		5,350		—			5,350
USD	451,414	KRW	446,102	4/19/2024	HUB		5,312		—			5,312
USD	450,035	KRW	446,102	4/19/2024	HUB		3,933		—			3,933
USD	450,965	KRW	446,102	4/19/2024	HUB		4,863		—			4,863
USD	450,917	KRW	446,102	4/19/2024	HUB		4,815		—			4,815
USD	450,647	KRW	446,102	4/19/2024	HUB		4,545		—			4,545
USD	450,914	KRW	446,102	4/19/2024	HUB		4,812		—			4,812
USD	450,851	KRW	446,102	4/19/2024	HUB		4,749		—			4,749
USD	450,811	KRW	446,102	4/19/2024	HUB		4,709		—			4,709
USD	376,183	KRW	371,752	4/19/2024	HUB		4,431		—			4,431
USD	375,912	KRW	371,752	4/19/2024	HUB		4,160		—			4,160
USD	376,007	KRW	371,752	4/19/2024	HUB		4,255		—			4,255
USD	375,668	KRW	371,752	4/19/2024	HUB		3,916		—			3,916
USD	375,346	KRW	371,752	4/19/2024	HUB		3,594		—			3,594
USD	375,122	KRW	371,752	4/19/2024	HUB		3,370		—			3,370
USD	375,737	KRW	371,752	4/19/2024	HUB		3,985		—			3,985
USD	375,491	KRW	371,752	4/19/2024	HUB		3,739		—			3,739
USD	375,873	KRW	371,752	4/19/2024	HUB		4,121		—			4,121
USD	355,992	PHP	355,668	4/19/2024	HUB		324		—			324
USD	355,840	PHP	355,668	4/19/2024	HUB		172		—			172
USD	355,895	PHP	355,668	4/19/2024	HUB		227		—			227
USD	356,087	PHP	355,668	4/19/2024	HUB		419		—			419
USD	356,144	PHP	355,668	4/19/2024	HUB		476		—			476
USD	355,872	PHP	355,668	4/19/2024	HUB		204		—			204
USD	311,668	PHP	311,210	4/19/2024	HUB		458		—			458
USD	311,538	PHP	311,210	4/19/2024	HUB		328		—			328
USD	311,510	PHP	311,210	4/19/2024	HUB		300		—			300
USD	311,366	PHP	311,210	4/19/2024	HUB		156		—			156
USD	311,316	PHP	311,210	4/19/2024	HUB		106		—			106
USD	300,237	KRW	297,401	4/19/2024	HUB		2,836		—			2,836
USD	300,758	KRW	297,401	4/19/2024	HUB		3,357		—			3,357
USD	300,528	KRW	297,401	4/19/2024	HUB		3,127		—			3,127
USD	300,505	KRW	297,401	4/19/2024	HUB		3,104		—			3,104
USD	300,389	KRW	297,401	4/19/2024	HUB		2,988		—			2,988
USD	300,444	KRW	297,401	4/19/2024	HUB		3,043		—			3,043
USD	300,723	KRW	297,401	4/19/2024	HUB		3,322		—			3,322

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	300,550	KRW	297,401	4/19/2024	HUB	$	3,149	$	—		$	3,149
USD	266,643	PHP	266,751	4/19/2024	HUB		—		(108	)		(108	)
USD	266,951	PHP	266,751	4/19/2024	HUB		200		—			200
USD	267,080	PHP	266,751	4/19/2024	HUB		329		—			329
USD	267,060	PHP	266,751	4/19/2024	HUB		309		—			309
USD	225,284	KRW	223,051	4/19/2024	HUB		2,233		—			2,233
USD	225,489	KRW	223,051	4/19/2024	HUB		2,438		—			2,438
USD	225,514	KRW	223,051	4/19/2024	HUB		2,463		—			2,463
USD	225,443	KRW	223,051	4/19/2024	HUB		2,392		—			2,392
USD	225,409	KRW	223,051	4/19/2024	HUB		2,358		—			2,358
USD	225,357	KRW	223,051	4/19/2024	HUB		2,306		—			2,306
USD	225,416	KRW	223,051	4/19/2024	HUB		2,365		—			2,365
USD	222,542	PHP	222,293	4/19/2024	HUB		249		—			249
USD	222,490	PHP	222,293	4/19/2024	HUB		197		—			197
USD	222,421	PHP	222,293	4/19/2024	HUB		128		—			128
USD	222,404	PHP	222,293	4/19/2024	HUB		111		—			111
USD	178,009	PHP	177,834	4/19/2024	HUB		175		—			175
USD	178,282	PHP	177,834	4/19/2024	HUB		448		—			448
USD	177,925	PHP	177,834	4/19/2024	HUB		91		—			91
USD	178,126	PHP	177,834	4/19/2024	HUB		292		—			292
USD	178,031	PHP	177,834	4/19/2024	HUB		197		—			197
USD	177,876	PHP	177,834	4/19/2024	HUB		42		—			42
USD	178,011	PHP	177,834	4/19/2024	HUB		177		—			177
USD	150,623	KRW	148,701	4/19/2024	HUB		1,922		—			1,922
USD	150,318	KRW	148,701	4/19/2024	HUB		1,617		—			1,617
USD	150,368	KRW	148,701	4/19/2024	HUB		1,667		—			1,667
USD	150,175	KRW	148,701	4/19/2024	HUB		1,474		—			1,474
USD	150,251	KRW	148,701	4/19/2024	HUB		1,550		—			1,550
USD	150,265	KRW	148,701	4/19/2024	HUB		1,564		—			1,564
USD	133,548	PHP	133,376	4/19/2024	HUB		172		—			172
USD	133,488	PHP	133,376	4/19/2024	HUB		112		—			112
USD	133,564	PHP	133,376	4/19/2024	HUB		188		—			188
USD	133,569	PHP	133,376	4/19/2024	HUB		193		—			193
USD	133,388	PHP	133,376	4/19/2024	HUB		12		—			12
USD	133,437	PHP	133,376	4/19/2024	HUB		61		—			61
USD	133,483	PHP	133,376	4/19/2024	HUB		107		—			107
USD	133,824	PHP	133,376	4/19/2024	HUB		448		—			448
USD	133,456	PHP	133,376	4/19/2024	HUB		80		—			80
USD	89,007	PHP	88,917	4/19/2024	HUB		90		—			90
USD	89,069	PHP	88,917	4/19/2024	HUB		152		—			152
USD	89,079	PHP	88,917	4/19/2024	HUB		162		—			162
USD	89,055	PHP	88,917	4/19/2024	HUB		138		—			138
USD	88,955	PHP	88,917	4/19/2024	HUB		38		—			38
USD	75,166	KRW	74,350	4/19/2024	HUB		816		—			816
USD	54,074	PHP	53,832	4/19/2024	HUB		242		—			242
USD	44,694	PHP	44,459	4/19/2024	HUB		235		—			235
USD	44,550	PHP	44,459	4/19/2024	HUB		91		—			91
CNY	69,331	USD	70,417	4/24/2024	HUB		—		(1,086	)		(1,086	)
CNY	69,331	USD	70,498	4/24/2024	HUB		—		(1,167	)		(1,167	)
CNY	485,317	USD	493,472	4/24/2024	HUB		—		(8,155	)		(8,155	)
CNY	762,641	USD	775,292	4/24/2024	HUB		—		(12,651	)		(12,651	)
CNY	831,972	USD	846,740	4/24/2024	HUB		—		(14,768	)		(14,768	)
CNY	831,972	USD	847,147	4/24/2024	HUB		—		(15,175	)		(15,175	)
CNY	901,303	USD	917,095	4/24/2024	HUB		—		(15,792	)		(15,792	)
CNY	1,109,296	USD	1,129,609	4/24/2024	HUB		—		(20,313	)		(20,313	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
CNY	1,178,627	USD	1,200,498	4/24/2024	HUB	$	—	$	(21,871	)	$	(21,871	)
CNY	2,773,239	USD	2,817,164	4/24/2024	HUB		—		(43,925	)		(43,925	)
USD	5,816,724	CNY	5,754,471	4/24/2024	HUB		62,253		—			62,253
USD	1,544,272	CNY	1,525,282	4/24/2024	HUB		18,990		—			18,990
USD	982,305	CNY	970,634	4/24/2024	HUB		11,671		—			11,671
USD	281,662	CNY	277,324	4/24/2024	HUB		4,338		—			4,338
USD	280,175	CNY	277,324	4/24/2024	HUB		2,851		—			2,851
USD	140,847	CNY	138,662	4/24/2024	HUB		2,185		—			2,185
USD	70,413	CNY	69,331	4/24/2024	HUB		1,082		—			1,082
PHP	1,022,440	USD	1,035,892	4/26/2024	HUB		—		(13,452	)		(13,452	)
USD	1,023,459	PHP	1,022,440	4/26/2024	HUB		1,019		—			1,019
CLP	50,988	USD	52,697	4/29/2024	HUB		—		(1,709	)		(1,709	)
CLP	50,988	USD	52,648	4/29/2024	HUB		—		(1,660	)		(1,660	)
CLP	50,988	USD	52,621	4/29/2024	HUB		—		(1,633	)		(1,633	)
CLP	50,988	USD	52,543	4/29/2024	HUB		—		(1,555	)		(1,555	)
CLP	50,988	USD	52,293	4/29/2024	HUB		—		(1,305	)		(1,305	)
CLP	50,988	USD	52,284	4/29/2024	HUB		—		(1,296	)		(1,296	)
CLP	101,491	USD	103,386	4/29/2024	HUB		—		(1,895	)		(1,895	)
CLP	101,976	USD	105,360	4/29/2024	HUB		—		(3,384	)		(3,384	)
CLP	101,976	USD	105,155	4/29/2024	HUB		—		(3,179	)		(3,179	)
CLP	101,976	USD	104,996	4/29/2024	HUB		—		(3,020	)		(3,020	)
CLP	101,976	USD	105,044	4/29/2024	HUB		—		(3,068	)		(3,068	)
CLP	101,976	USD	105,272	4/29/2024	HUB		—		(3,296	)		(3,296	)
CLP	101,976	USD	105,154	4/29/2024	HUB		—		(3,178	)		(3,178	)
CLP	101,976	USD	105,369	4/29/2024	HUB		—		(3,393	)		(3,393	)
CLP	101,976	USD	105,296	4/29/2024	HUB		—		(3,320	)		(3,320	)
CLP	101,976	USD	105,157	4/29/2024	HUB		—		(3,181	)		(3,181	)
CLP	101,976	USD	105,344	4/29/2024	HUB		—		(3,368	)		(3,368	)
CLP	101,976	USD	105,338	4/29/2024	HUB		—		(3,362	)		(3,362	)
CLP	101,976	USD	105,130	4/29/2024	HUB		—		(3,154	)		(3,154	)
CLP	101,976	USD	105,420	4/29/2024	HUB		—		(3,444	)		(3,444	)
CLP	101,976	USD	105,158	4/29/2024	HUB		—		(3,182	)		(3,182	)
CLP	101,976	USD	105,141	4/29/2024	HUB		—		(3,165	)		(3,165	)
CLP	101,976	USD	105,148	4/29/2024	HUB		—		(3,172	)		(3,172	)
CLP	101,976	USD	105,100	4/29/2024	HUB		—		(3,124	)		(3,124	)
CLP	101,976	USD	104,560	4/29/2024	HUB		—		(2,584	)		(2,584	)
CLP	101,976	USD	104,578	4/29/2024	HUB		—		(2,602	)		(2,602	)
CLP	101,976	USD	104,569	4/29/2024	HUB		—		(2,593	)		(2,593	)
CLP	152,964	USD	157,768	4/29/2024	HUB		—		(4,804	)		(4,804	)
CLP	152,964	USD	158,064	4/29/2024	HUB		—		(5,100	)		(5,100	)
CLP	152,964	USD	157,619	4/29/2024	HUB		—		(4,655	)		(4,655	)
CLP	152,964	USD	157,093	4/29/2024	HUB		—		(4,129	)		(4,129	)
CLP	152,964	USD	157,186	4/29/2024	HUB		—		(4,222	)		(4,222	)
CLP	152,964	USD	157,516	4/29/2024	HUB		—		(4,552	)		(4,552	)
CLP	152,964	USD	157,566	4/29/2024	HUB		—		(4,602	)		(4,602	)
CLP	152,964	USD	158,021	4/29/2024	HUB		—		(5,057	)		(5,057	)
CLP	152,964	USD	158,006	4/29/2024	HUB		—		(5,042	)		(5,042	)
CLP	152,964	USD	158,016	4/29/2024	HUB		—		(5,052	)		(5,052	)
CLP	152,964	USD	158,014	4/29/2024	HUB		—		(5,050	)		(5,050	)
CLP	152,964	USD	157,758	4/29/2024	HUB		—		(4,794	)		(4,794	)
CLP	152,964	USD	157,800	4/29/2024	HUB		—		(4,836	)		(4,836	)
CLP	152,964	USD	157,770	4/29/2024	HUB		—		(4,806	)		(4,806	)
CLP	152,964	USD	157,978	4/29/2024	HUB		—		(5,014	)		(5,014	)
CLP	152,964	USD	157,622	4/29/2024	HUB		—		(4,658	)		(4,658	)
CLP	152,964	USD	157,773	4/29/2024	HUB		—		(4,809	)		(4,809	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
CLP	152,964	USD	157,795	4/29/2024	HUB	$	—	$	(4,831	)	$	(4,831	)
CLP	152,964	USD	157,788	4/29/2024	HUB		—		(4,824	)		(4,824	)
CLP	152,964	USD	157,500	4/29/2024	HUB		—		(4,536	)		(4,536	)
CLP	152,964	USD	156,851	4/29/2024	HUB		—		(3,887	)		(3,887	)
CLP	152,964	USD	156,854	4/29/2024	HUB		—		(3,890	)		(3,890	)
CLP	203,953	USD	209,103	4/29/2024	HUB		—		(5,150	)		(5,150	)
CLP	203,953	USD	210,363	4/29/2024	HUB		—		(6,410	)		(6,410	)
CLP	203,953	USD	209,503	4/29/2024	HUB		—		(5,550	)		(5,550	)
CLP	203,953	USD	209,613	4/29/2024	HUB		—		(5,660	)		(5,660	)
CLP	203,953	USD	209,714	4/29/2024	HUB		—		(5,761	)		(5,761	)
CLP	203,953	USD	209,820	4/29/2024	HUB		—		(5,867	)		(5,867	)
CLP	203,953	USD	210,312	4/29/2024	HUB		—		(6,359	)		(6,359	)
CLP	203,953	USD	210,454	4/29/2024	HUB		—		(6,501	)		(6,501	)
CLP	203,953	USD	210,782	4/29/2024	HUB		—		(6,829	)		(6,829	)
CLP	203,953	USD	210,343	4/29/2024	HUB		—		(6,390	)		(6,390	)
CLP	203,953	USD	210,248	4/29/2024	HUB		—		(6,295	)		(6,295	)
CLP	203,953	USD	210,277	4/29/2024	HUB		—		(6,324	)		(6,324	)
CLP	203,953	USD	209,179	4/29/2024	HUB		—		(5,226	)		(5,226	)
CLP	203,953	USD	209,094	4/29/2024	HUB		—		(5,141	)		(5,141	)
CLP	254,941	USD	261,342	4/29/2024	HUB		—		(6,401	)		(6,401	)
CLP	254,941	USD	261,427	4/29/2024	HUB		—		(6,486	)		(6,486	)
CLP	254,941	USD	262,644	4/29/2024	HUB		—		(7,703	)		(7,703	)
CLP	254,941	USD	262,429	4/29/2024	HUB		—		(7,488	)		(7,488	)
CLP	254,941	USD	262,456	4/29/2024	HUB		—		(7,515	)		(7,515	)
CLP	254,941	USD	262,884	4/29/2024	HUB		—		(7,943	)		(7,943	)
CLP	254,941	USD	262,865	4/29/2024	HUB		—		(7,924	)		(7,924	)
CLP	254,941	USD	262,859	4/29/2024	HUB		—		(7,918	)		(7,918	)
CLP	254,941	USD	261,449	4/29/2024	HUB		—		(6,508	)		(6,508	)
CLP	305,929	USD	315,946	4/29/2024	HUB		—		(10,017	)		(10,017	)
CLP	356,917	USD	368,289	4/29/2024	HUB		—		(11,372	)		(11,372	)
CLP	458,894	USD	472,362	4/29/2024	HUB		—		(13,468	)		(13,468	)
CLP	509,882	USD	525,332	4/29/2024	HUB		—		(15,450	)		(15,450	)
CLP	572,660	USD	593,441	4/29/2024	HUB		—		(20,781	)		(20,781	)
CLP	611,858	USD	630,159	4/29/2024	HUB		—		(18,301	)		(18,301	)
CLP	611,858	USD	629,652	4/29/2024	HUB		—		(17,794	)		(17,794	)
CLP	611,858	USD	621,485	4/29/2024	HUB		—		(9,627	)		(9,627	)
CLP	662,846	USD	683,807	4/29/2024	HUB		—		(20,961	)		(20,961	)
CLP	662,846	USD	681,434	4/29/2024	HUB		—		(18,588	)		(18,588	)
CLP	662,846	USD	683,980	4/29/2024	HUB		—		(21,134	)		(21,134	)
CLP	662,846	USD	670,462	4/29/2024	HUB		—		(7,616	)		(7,616	)
CLP	713,834	USD	737,447	4/29/2024	HUB		—		(23,613	)		(23,613	)
CLP	713,834	USD	736,036	4/29/2024	HUB		—		(22,202	)		(22,202	)
CLP	764,823	USD	787,727	4/29/2024	HUB		—		(22,904	)		(22,904	)
CLP	968,775	USD	983,712	4/29/2024	HUB		—		(14,937	)		(14,937	)
CLP	968,775	USD	982,633	4/29/2024	HUB		—		(13,858	)		(13,858	)
CLP	1,478,657	USD	1,502,622	4/29/2024	HUB		—		(23,965	)		(23,965	)
KRW	2,008,589	USD	2,019,742	4/29/2024	HUB		—		(11,153	)		(11,153	)
KRW	2,826,904	USD	2,846,954	4/29/2024	HUB		—		(20,050	)		(20,050	)
KRW	2,826,904	USD	2,841,016	4/29/2024	HUB		—		(14,112	)		(14,112	)
KRW	3,496,433	USD	3,516,121	4/29/2024	HUB		—		(19,688	)		(19,688	)
KRW	3,868,394	USD	3,875,709	4/29/2024	HUB		—		(7,315	)		(7,315	)
KRW	3,942,787	USD	3,988,952	4/29/2024	HUB		—		(46,165	)		(46,165	)
COP	3,970,465	USD	3,874,432	4/29/2024	HUB		96,033		—			96,033
KRW	4,612,316	USD	4,637,935	4/29/2024	HUB		—		(25,619	)		(25,619	)
CLP	5,036,039	USD	5,213,833	4/29/2024	HUB		—		(177,794	)		(177,794	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
COP	5,293,953	USD	5,164,306	4/29/2024	HUB	$	129,647	$	—		$	129,647
COP	7,422,123	USD	7,244,906	4/29/2024	HUB		177,217		—			177,217
CLP	10,555,037	USD	10,755,440	4/29/2024	HUB		—		(200,403	)		(200,403	)
KRW	10,638,085	USD	10,812,236	4/29/2024	HUB		—		(174,151	)		(174,151	)
USD	17,813,072	KRW	17,705,344	4/29/2024	HUB		107,728		—			107,728
USD	16,074,624	KRW	15,919,931	4/29/2024	HUB		154,693		—			154,693
USD	15,425,912	KRW	15,324,793	4/29/2024	HUB		101,119		—			101,119
USD	13,783,326	KRW	13,688,165	4/29/2024	HUB		95,161		—			95,161
USD	12,716,266	KRW	12,646,674	4/29/2024	HUB		69,592		—			69,592
USD	12,657,470	KRW	12,572,282	4/29/2024	HUB		85,188		—			85,188
USD	12,427,755	KRW	12,349,105	4/29/2024	HUB		78,650		—			78,650
USD	11,737,677	KRW	11,679,575	4/29/2024	HUB		58,102		—			58,102
USD	11,195,853	KRW	11,084,438	4/29/2024	HUB		111,415		—			111,415
USD	8,681,400	KRW	8,629,495	4/29/2024	HUB		51,905		—			51,905
USD	8,377,037	KRW	8,331,926	4/29/2024	HUB		45,111		—			45,111
USD	5,025,599	KRW	4,984,277	4/29/2024	HUB		41,322		—			41,322
USD	4,056,706	KRW	4,017,179	4/29/2024	HUB		39,527		—			39,527
USD	3,484,827	KRW	3,496,433	4/29/2024	HUB		—		(11,606	)		(11,606	)
USD	3,420,888	KRW	3,422,041	4/29/2024	HUB		—		(1,153	)		(1,153	)
USD	3,124,479	KRW	3,124,472	4/29/2024	HUB		7		—			7
USD	2,705,038	KRW	2,678,119	4/29/2024	HUB		26,919		—			26,919
USD	2,603,992	KRW	2,603,727	4/29/2024	HUB		265		—			265
USD	2,555,642	KRW	2,529,335	4/29/2024	HUB		26,307		—			26,307
USD	2,481,558	KRW	2,454,943	4/29/2024	HUB		26,615		—			26,615
USD	2,205,853	KRW	2,183,459	4/29/2024	HUB		22,394		—			22,394
USD	2,181,345	KRW	2,159,199	4/29/2024	HUB		22,146		—			22,146
USD	2,132,549	KRW	2,110,677	4/29/2024	HUB		21,872		—			21,872
USD	2,107,832	KRW	2,086,417	4/29/2024	HUB		21,415		—			21,415
USD	2,103,476	KRW	2,082,982	4/29/2024	HUB		20,494		—			20,494
USD	2,060,080	KRW	2,035,886	4/29/2024	HUB		24,194		—			24,194
USD	2,035,833	KRW	2,013,995	4/29/2024	HUB		21,838		—			21,838
USD	1,993,476	KRW	1,970,212	4/29/2024	HUB		23,264		—			23,264
USD	1,985,462	KRW	1,965,113	4/29/2024	HUB		20,349		—			20,349
USD	1,954,499	KRW	1,943,018	4/29/2024	HUB		11,481		—			11,481
USD	1,902,657	KRW	1,882,647	4/29/2024	HUB		20,010		—			20,010
USD	1,803,345	KRW	1,785,413	4/29/2024	HUB		17,932		—			17,932
USD	1,745,029	KRW	1,733,000	4/29/2024	HUB		12,029		—			12,029
USD	1,740,422	KRW	1,722,507	4/29/2024	HUB		17,915		—			17,915
USD	1,726,977	KRW	1,707,517	4/29/2024	HUB		19,460		—			19,460
USD	1,678,262	KRW	1,666,981	4/29/2024	HUB		11,281		—			11,281
USD	1,682,557	KRW	1,663,735	4/29/2024	HUB		18,822		—			18,822
USD	1,649,924	KRW	1,640,710	4/29/2024	HUB		9,214		—			9,214
USD	1,634,929	KRW	1,625,069	4/29/2024	HUB		9,860		—			9,860
USD	1,601,120	KRW	1,591,976	4/29/2024	HUB		9,144		—			9,144
USD	1,595,139	KRW	1,584,457	4/29/2024	HUB		10,682		—			10,682
USD	1,568,902	KRW	1,552,682	4/29/2024	HUB		16,220		—			16,220
USD	1,544,052	KRW	1,528,422	4/29/2024	HUB		15,630		—			15,630
USD	1,535,201	KRW	1,525,040	4/29/2024	HUB		10,161		—			10,161
USD	1,519,828	KRW	1,504,161	4/29/2024	HUB		15,667		—			15,667
USD	1,505,140	KRW	1,487,844	4/29/2024	HUB		17,296		—			17,296
USD	1,478,998	KRW	1,468,924	4/29/2024	HUB		10,074		—			10,074
USD	1,457,187	KRW	1,448,431	4/29/2024	HUB		8,756		—			8,756
USD	1,457,165	KRW	1,448,431	4/29/2024	HUB		8,734		—			8,734
USD	1,372,735	KRW	1,357,257	4/29/2024	HUB		15,478		—			15,478
USD	1,350,401	KRW	1,342,449	4/29/2024	HUB		7,952		—			7,952

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	1,354,525	KRW	1,339,060	4/29/2024	HUB	$	15,465	$	—		$	15,465
USD	1,341,140	KRW	1,326,996	4/29/2024	HUB		14,144		—			14,144
USD	1,273,664	KRW	1,267,083	4/29/2024	HUB		6,581		—			6,581
USD	1,273,561	KRW	1,267,083	4/29/2024	HUB		6,478		—			6,478
USD	1,273,837	KRW	1,267,083	4/29/2024	HUB		6,754		—			6,754
USD	1,260,759	KRW	1,264,667	4/29/2024	HUB		—		(3,908	)		(3,908	)
USD	1,257,232	KRW	1,250,838	4/29/2024	HUB		6,394		—			6,394
USD	1,217,063	KRW	1,204,019	4/29/2024	HUB		13,044		—			13,044
USD	1,218,052	KRW	1,204,019	4/29/2024	HUB		14,033		—			14,033
USD	1,208,335	KRW	1,201,138	4/29/2024	HUB		7,197		—			7,197
USD	1,204,765	KRW	1,190,275	4/29/2024	HUB		14,490		—			14,490
USD	1,180,070	KRW	1,171,838	4/29/2024	HUB		8,232		—			8,232
USD	1,094,922	KRW	1,088,645	4/29/2024	HUB		6,277		—			6,277
USD	1,066,026	KRW	1,059,828	4/29/2024	HUB		6,198		—			6,198
USD	1,038,748	KRW	1,041,491	4/29/2024	HUB		—		(2,743	)		(2,743	)
USD	1,022,200	KRW	1,016,073	4/29/2024	HUB		6,127		—			6,127
USD	901,937	KRW	892,706	4/29/2024	HUB		9,231		—			9,231
USD	826,601	KRW	818,314	4/29/2024	HUB		8,287		—			8,287
USD	817,655	KRW	818,314	4/29/2024	HUB		—		(659	)		(659	)
USD	817,846	KRW	818,314	4/29/2024	HUB		—		(468	)		(468	)
USD	676,534	KRW	669,530	4/29/2024	HUB		7,004		—			7,004
USD	678,212	KRW	669,530	4/29/2024	HUB		8,682		—			8,682
USD	670,876	KRW	669,530	4/29/2024	HUB		1,346		—			1,346
USD	638,542	CLP	611,858	4/29/2024	HUB		26,684		—			26,684
USD	601,210	KRW	595,138	4/29/2024	HUB		6,072		—			6,072
USD	602,896	KRW	595,138	4/29/2024	HUB		7,758		—			7,758
USD	601,347	KRW	595,138	4/29/2024	HUB		6,209		—			6,209
USD	601,296	KRW	595,138	4/29/2024	HUB		6,158		—			6,158
USD	601,821	KRW	595,138	4/29/2024	HUB		6,683		—			6,683
USD	596,366	KRW	595,138	4/29/2024	HUB		1,228		—			1,228
USD	600,872	KRW	595,138	4/29/2024	HUB		5,734		—			5,734
USD	525,178	KRW	520,745	4/29/2024	HUB		4,433		—			4,433
USD	524,851	KRW	520,745	4/29/2024	HUB		4,106		—			4,106
USD	526,953	KRW	520,745	4/29/2024	HUB		6,208		—			6,208
USD	526,256	KRW	520,745	4/29/2024	HUB		5,511		—			5,511
USD	527,120	KRW	520,745	4/29/2024	HUB		6,375		—			6,375
USD	526,027	KRW	520,745	4/29/2024	HUB		5,282		—			5,282
USD	521,919	KRW	520,745	4/29/2024	HUB		1,174		—			1,174
USD	526,161	KRW	520,745	4/29/2024	HUB		5,416		—			5,416
USD	526,157	KRW	520,745	4/29/2024	HUB		5,412		—			5,412
USD	525,139	KRW	520,745	4/29/2024	HUB		4,394		—			4,394
USD	525,289	KRW	520,745	4/29/2024	HUB		4,544		—			4,544
USD	525,281	KRW	520,745	4/29/2024	HUB		4,536		—			4,536
USD	525,005	KRW	520,745	4/29/2024	HUB		4,260		—			4,260
USD	531,068	CLP	509,882	4/29/2024	HUB		21,186		—			21,186
USD	477,626	CLP	458,894	4/29/2024	HUB		18,732		—			18,732
USD	480,657	CLP	458,894	4/29/2024	HUB		21,763		—			21,763
USD	450,170	KRW	446,353	4/29/2024	HUB		3,817		—			3,817
USD	449,987	KRW	446,353	4/29/2024	HUB		3,634		—			3,634
USD	449,805	KRW	446,353	4/29/2024	HUB		3,452		—			3,452
USD	450,192	KRW	446,353	4/29/2024	HUB		3,839		—			3,839
USD	450,935	KRW	446,353	4/29/2024	HUB		4,582		—			4,582
USD	450,989	KRW	446,353	4/29/2024	HUB		4,636		—			4,636
USD	452,021	KRW	446,353	4/29/2024	HUB		5,668		—			5,668
USD	445,902	KRW	446,353	4/29/2024	HUB		—		(451	)		(451	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	445,431	KRW	446,353	4/29/2024	HUB	$	—	$	(922	)	$	(922	)
USD	445,957	KRW	446,353	4/29/2024	HUB		—		(396	)		(396	)
USD	451,029	KRW	446,353	4/29/2024	HUB		4,676		—			4,676
USD	451,029	KRW	446,353	4/29/2024	HUB		4,676		—			4,676
USD	451,368	KRW	446,353	4/29/2024	HUB		5,015		—			5,015
USD	447,768	KRW	446,353	4/29/2024	HUB		1,415		—			1,415
USD	451,168	KRW	446,353	4/29/2024	HUB		4,815		—			4,815
USD	450,288	KRW	446,353	4/29/2024	HUB		3,935		—			3,935
USD	450,139	KRW	446,353	4/29/2024	HUB		3,786		—			3,786
USD	447,641	KRW	446,353	4/29/2024	HUB		1,288		—			1,288
USD	446,165	KRW	446,353	4/29/2024	HUB		—		(188	)		(188	)
USD	423,217	CLP	407,905	4/29/2024	HUB		15,312		—			15,312
USD	426,484	CLP	407,905	4/29/2024	HUB		18,579		—			18,579
USD	425,274	CLP	407,905	4/29/2024	HUB		17,369		—			17,369
USD	427,716	CLP	407,905	4/29/2024	HUB		19,811		—			19,811
USD	426,839	CLP	407,905	4/29/2024	HUB		18,934		—			18,934
USD	375,511	KRW	371,961	4/29/2024	HUB		3,550		—			3,550
USD	375,112	KRW	371,961	4/29/2024	HUB		3,151		—			3,151
USD	375,847	KRW	371,961	4/29/2024	HUB		3,886		—			3,886
USD	375,739	KRW	371,961	4/29/2024	HUB		3,778		—			3,778
USD	375,751	KRW	371,961	4/29/2024	HUB		3,790		—			3,790
USD	375,801	KRW	371,961	4/29/2024	HUB		3,840		—			3,840
USD	375,793	KRW	371,961	4/29/2024	HUB		3,832		—			3,832
USD	371,681	KRW	371,961	4/29/2024	HUB		—		(280	)		(280	)
USD	372,609	KRW	371,961	4/29/2024	HUB		648		—			648
USD	376,132	KRW	371,961	4/29/2024	HUB		4,171		—			4,171
USD	375,838	KRW	371,961	4/29/2024	HUB		3,877		—			3,877
USD	375,794	KRW	371,961	4/29/2024	HUB		3,833		—			3,833
USD	372,764	KRW	371,961	4/29/2024	HUB		803		—			803
USD	372,570	KRW	371,961	4/29/2024	HUB		609		—			609
USD	375,934	KRW	371,961	4/29/2024	HUB		3,973		—			3,973
USD	375,187	KRW	371,961	4/29/2024	HUB		3,226		—			3,226
USD	375,074	KRW	371,961	4/29/2024	HUB		3,113		—			3,113
USD	373,257	CLP	356,917	4/29/2024	HUB		16,340		—			16,340
USD	373,293	CLP	356,917	4/29/2024	HUB		16,376		—			16,376
USD	373,656	CLP	356,917	4/29/2024	HUB		16,739		—			16,739
USD	370,327	CLP	356,917	4/29/2024	HUB		13,410		—			13,410
USD	373,461	CLP	356,917	4/29/2024	HUB		16,544		—			16,544
USD	373,019	CLP	356,917	4/29/2024	HUB		16,102		—			16,102
USD	373,090	CLP	356,917	4/29/2024	HUB		16,173		—			16,173
USD	372,868	CLP	356,917	4/29/2024	HUB		15,951		—			15,951
USD	368,828	CLP	356,917	4/29/2024	HUB		11,911		—			11,911
USD	368,339	CLP	356,917	4/29/2024	HUB		11,422		—			11,422
USD	371,101	CLP	356,917	4/29/2024	HUB		14,184		—			14,184
USD	370,987	CLP	356,917	4/29/2024	HUB		14,070		—			14,070
USD	370,990	CLP	356,917	4/29/2024	HUB		14,073		—			14,073
USD	373,250	CLP	356,917	4/29/2024	HUB		16,333		—			16,333
USD	374,131	CLP	356,917	4/29/2024	HUB		17,214		—			17,214
USD	373,325	CLP	356,917	4/29/2024	HUB		16,408		—			16,408
USD	373,250	CLP	356,917	4/29/2024	HUB		16,333		—			16,333
USD	373,871	CLP	356,917	4/29/2024	HUB		16,954		—			16,954
USD	320,078	CLP	305,929	4/29/2024	HUB		14,149		—			14,149
USD	319,799	CLP	305,929	4/29/2024	HUB		13,870		—			13,870
USD	319,533	CLP	305,929	4/29/2024	HUB		13,604		—			13,604
USD	317,908	CLP	305,929	4/29/2024	HUB		11,979		—			11,979

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	317,480	CLP	305,929	4/29/2024	HUB	$	11,551	$	—		$	11,551
USD	319,030	CLP	305,929	4/29/2024	HUB		13,101		—			13,101
USD	319,278	CLP	305,929	4/29/2024	HUB		13,349		—			13,349
USD	319,523	CLP	305,929	4/29/2024	HUB		13,594		—			13,594
USD	319,635	CLP	305,929	4/29/2024	HUB		13,706		—			13,706
USD	316,209	CLP	305,929	4/29/2024	HUB		10,280		—			10,280
USD	316,019	CLP	305,929	4/29/2024	HUB		10,090		—			10,090
USD	319,758	CLP	305,929	4/29/2024	HUB		13,829		—			13,829
USD	319,254	CLP	305,929	4/29/2024	HUB		13,325		—			13,325
USD	318,026	CLP	305,929	4/29/2024	HUB		12,097		—			12,097
USD	317,407	CLP	305,929	4/29/2024	HUB		11,478		—			11,478
USD	317,935	CLP	305,929	4/29/2024	HUB		12,006		—			12,006
USD	320,003	CLP	305,929	4/29/2024	HUB		14,074		—			14,074
USD	320,055	CLP	305,929	4/29/2024	HUB		14,126		—			14,126
USD	320,784	CLP	305,929	4/29/2024	HUB		14,855		—			14,855
USD	300,122	KRW	297,569	4/29/2024	HUB		2,553		—			2,553
USD	300,080	KRW	297,569	4/29/2024	HUB		2,511		—			2,511
USD	300,077	KRW	297,569	4/29/2024	HUB		2,508		—			2,508
USD	299,909	KRW	297,569	4/29/2024	HUB		2,340		—			2,340
USD	299,994	KRW	297,569	4/29/2024	HUB		2,425		—			2,425
USD	300,628	KRW	297,569	4/29/2024	HUB		3,059		—			3,059
USD	297,300	KRW	297,569	4/29/2024	HUB		—		(269	)		(269	)
USD	297,190	KRW	297,569	4/29/2024	HUB		—		(379	)		(379	)
USD	298,133	KRW	297,569	4/29/2024	HUB		564		—			564
USD	300,795	KRW	297,569	4/29/2024	HUB		3,226		—			3,226
USD	300,748	KRW	297,569	4/29/2024	HUB		3,179		—			3,179
USD	300,612	KRW	297,569	4/29/2024	HUB		3,043		—			3,043
USD	300,702	KRW	297,569	4/29/2024	HUB		3,133		—			3,133
USD	300,154	KRW	297,569	4/29/2024	HUB		2,585		—			2,585
USD	300,145	KRW	297,569	4/29/2024	HUB		2,576		—			2,576
USD	300,159	KRW	297,569	4/29/2024	HUB		2,590		—			2,590
USD	300,157	KRW	297,569	4/29/2024	HUB		2,588		—			2,588
USD	265,503	CLP	254,941	4/29/2024	HUB		10,562		—			10,562
USD	263,288	CLP	254,941	4/29/2024	HUB		8,347		—			8,347
USD	263,546	CLP	254,941	4/29/2024	HUB		8,605		—			8,605
USD	263,089	CLP	254,941	4/29/2024	HUB		8,148		—			8,148
USD	266,144	CLP	254,941	4/29/2024	HUB		11,203		—			11,203
USD	265,047	CLP	254,941	4/29/2024	HUB		10,106		—			10,106
USD	264,783	CLP	254,941	4/29/2024	HUB		9,842		—			9,842
USD	264,578	CLP	254,941	4/29/2024	HUB		9,637		—			9,637
USD	267,317	CLP	254,941	4/29/2024	HUB		12,376		—			12,376
USD	266,633	CLP	254,941	4/29/2024	HUB		11,692		—			11,692
USD	266,690	CLP	254,941	4/29/2024	HUB		11,749		—			11,749
USD	266,593	CLP	254,941	4/29/2024	HUB		11,652		—			11,652
USD	266,678	CLP	254,941	4/29/2024	HUB		11,737		—			11,737
USD	266,479	CLP	254,941	4/29/2024	HUB		11,538		—			11,538
USD	267,017	CLP	254,941	4/29/2024	HUB		12,076		—			12,076
USD	225,095	KRW	223,177	4/29/2024	HUB		1,918		—			1,918
USD	225,061	KRW	223,177	4/29/2024	HUB		1,884		—			1,884
USD	224,966	KRW	223,177	4/29/2024	HUB		1,789		—			1,789
USD	225,474	KRW	223,177	4/29/2024	HUB		2,297		—			2,297
USD	225,442	KRW	223,177	4/29/2024	HUB		2,265		—			2,265
USD	225,480	KRW	223,177	4/29/2024	HUB		2,303		—			2,303
USD	223,652	KRW	223,177	4/29/2024	HUB		475		—			475
USD	223,671	KRW	223,177	4/29/2024	HUB		494		—			494

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)		Net Unrealized Appreciation (Depreciation)
USD	225,070	KRW	223,177	4/29/2024	HUB	$	1,893	$	—	$	1,893
USD	225,045	KRW	223,177	4/29/2024	HUB		1,868		—		1,868
USD	225,080	KRW	223,177	4/29/2024	HUB		1,903		—		1,903
USD	225,045	KRW	223,177	4/29/2024	HUB		1,868		—		1,868
USD	225,050	KRW	223,177	4/29/2024	HUB		1,873		—		1,873
USD	213,504	CLP	203,953	4/29/2024	HUB		9,551		—		9,551
USD	213,320	CLP	203,953	4/29/2024	HUB		9,367		—		9,367
USD	213,281	CLP	203,953	4/29/2024	HUB		9,328		—		9,328
USD	213,288	CLP	203,953	4/29/2024	HUB		9,335		—		9,335
USD	210,731	CLP	203,953	4/29/2024	HUB		6,778		—		6,778
USD	210,524	CLP	203,953	4/29/2024	HUB		6,571		—		6,571
USD	210,897	CLP	203,953	4/29/2024	HUB		6,944		—		6,944
USD	210,884	CLP	203,953	4/29/2024	HUB		6,931		—		6,931
USD	211,658	CLP	203,953	4/29/2024	HUB		7,705		—		7,705
USD	211,663	CLP	203,953	4/29/2024	HUB		7,710		—		7,710
USD	213,920	CLP	203,953	4/29/2024	HUB		9,967		—		9,967
USD	213,425	CLP	203,953	4/29/2024	HUB		9,472		—		9,472
USD	213,808	CLP	203,953	4/29/2024	HUB		9,855		—		9,855
USD	213,813	CLP	203,953	4/29/2024	HUB		9,860		—		9,860
USD	213,327	CLP	203,953	4/29/2024	HUB		9,374		—		9,374
USD	213,263	CLP	203,953	4/29/2024	HUB		9,310		—		9,310
USD	213,354	CLP	203,953	4/29/2024	HUB		9,401		—		9,401
USD	213,438	CLP	203,953	4/29/2024	HUB		9,485		—		9,485
USD	213,377	CLP	203,953	4/29/2024	HUB		9,424		—		9,424
USD	213,607	CLP	203,953	4/29/2024	HUB		9,654		—		9,654
USD	213,536	CLP	203,953	4/29/2024	HUB		9,583		—		9,583
USD	160,953	CLP	152,965	4/29/2024	HUB		7,988		—		7,988
USD	160,585	CLP	152,965	4/29/2024	HUB		7,620		—		7,620
USD	160,726	CLP	152,965	4/29/2024	HUB		7,761		—		7,761
USD	160,665	CLP	152,965	4/29/2024	HUB		7,700		—		7,700
USD	159,948	CLP	152,965	4/29/2024	HUB		6,983		—		6,983
USD	160,211	CLP	152,965	4/29/2024	HUB		7,246		—		7,246
USD	159,145	CLP	152,965	4/29/2024	HUB		6,180		—		6,180
USD	159,778	CLP	152,965	4/29/2024	HUB		6,813		—		6,813
USD	157,825	CLP	152,965	4/29/2024	HUB		4,860		—		4,860
USD	157,877	CLP	152,965	4/29/2024	HUB		4,912		—		4,912
USD	159,898	CLP	152,965	4/29/2024	HUB		6,933		—		6,933
USD	158,032	CLP	152,965	4/29/2024	HUB		5,067		—		5,067
USD	159,088	CLP	152,965	4/29/2024	HUB		6,123		—		6,123
USD	158,983	CLP	152,965	4/29/2024	HUB		6,018		—		6,018
USD	160,738	CLP	152,965	4/29/2024	HUB		7,773		—		7,773
USD	160,783	CLP	152,965	4/29/2024	HUB		7,818		—		7,818
USD	162,249	CLP	152,965	4/29/2024	HUB		9,284		—		9,284
USD	160,516	CLP	152,965	4/29/2024	HUB		7,551		—		7,551
USD	159,961	CLP	152,965	4/29/2024	HUB		6,996		—		6,996
USD	162,563	CLP	152,965	4/29/2024	HUB		9,598		—		9,598
USD	162,546	CLP	152,965	4/29/2024	HUB		9,581		—		9,581
USD	162,510	CLP	152,965	4/29/2024	HUB		9,545		—		9,545
USD	160,922	CLP	152,965	4/29/2024	HUB		7,957		—		7,957
USD	159,956	CLP	152,965	4/29/2024	HUB		6,991		—		6,991
USD	159,990	CLP	152,965	4/29/2024	HUB		7,025		—		7,025
USD	159,954	CLP	152,965	4/29/2024	HUB		6,989		—		6,989
USD	162,509	CLP	152,965	4/29/2024	HUB		9,544		—		9,544
USD	162,119	CLP	152,965	4/29/2024	HUB		9,154		—		9,154
USD	162,303	CLP	152,965	4/29/2024	HUB		9,338		—		9,338

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)		Net Unrealized Appreciation (Depreciation)
USD	162,507	CLP	152,965	4/29/2024	HUB	$	9,542	$	—	$	9,542
USD	162,244	CLP	152,965	4/29/2024	HUB		9,279		—		9,279
USD	162,387	CLP	152,965	4/29/2024	HUB		9,422		—		9,422
USD	150,078	KRW	148,784	4/29/2024	HUB		1,294		—		1,294
USD	107,256	CLP	101,976	4/29/2024	HUB		5,280		—		5,280
USD	107,233	CLP	101,976	4/29/2024	HUB		5,257		—		5,257
USD	107,352	CLP	101,976	4/29/2024	HUB		5,376		—		5,376
USD	107,315	CLP	101,976	4/29/2024	HUB		5,339		—		5,339
USD	107,249	CLP	101,976	4/29/2024	HUB		5,273		—		5,273
USD	107,201	CLP	101,976	4/29/2024	HUB		5,225		—		5,225
USD	107,177	CLP	101,976	4/29/2024	HUB		5,201		—		5,201
USD	107,180	CLP	101,976	4/29/2024	HUB		5,204		—		5,204
USD	107,281	CLP	101,976	4/29/2024	HUB		5,305		—		5,305
USD	107,024	CLP	101,976	4/29/2024	HUB		5,048		—		5,048
USD	107,234	CLP	101,976	4/29/2024	HUB		5,258		—		5,258
USD	107,099	CLP	101,976	4/29/2024	HUB		5,123		—		5,123
USD	107,177	CLP	101,976	4/29/2024	HUB		5,201		—		5,201
USD	107,363	CLP	101,976	4/29/2024	HUB		5,387		—		5,387
USD	106,650	CLP	101,976	4/29/2024	HUB		4,674		—		4,674
USD	105,876	CLP	101,976	4/29/2024	HUB		3,900		—		3,900
USD	105,172	CLP	101,976	4/29/2024	HUB		3,196		—		3,196
USD	107,307	CLP	101,976	4/29/2024	HUB		5,331		—		5,331
USD	107,230	CLP	101,976	4/29/2024	HUB		5,254		—		5,254
USD	107,173	CLP	101,976	4/29/2024	HUB		5,197		—		5,197
USD	107,210	CLP	101,976	4/29/2024	HUB		5,234		—		5,234
USD	107,279	CLP	101,976	4/29/2024	HUB		5,303		—		5,303
USD	107,090	CLP	101,976	4/29/2024	HUB		5,114		—		5,114
USD	107,077	CLP	101,976	4/29/2024	HUB		5,101		—		5,101
USD	107,359	CLP	101,976	4/29/2024	HUB		5,383		—		5,383
USD	108,069	CLP	101,976	4/29/2024	HUB		6,093		—		6,093
USD	108,274	CLP	101,976	4/29/2024	HUB		6,298		—		6,298
USD	108,329	CLP	101,976	4/29/2024	HUB		6,353		—		6,353
USD	108,104	CLP	101,976	4/29/2024	HUB		6,128		—		6,128
USD	108,389	CLP	101,976	4/29/2024	HUB		6,413		—		6,413
USD	108,019	CLP	101,976	4/29/2024	HUB		6,043		—		6,043
USD	107,989	CLP	101,976	4/29/2024	HUB		6,013		—		6,013
USD	108,121	CLP	101,976	4/29/2024	HUB		6,145		—		6,145
USD	108,382	CLP	101,976	4/29/2024	HUB		6,406		—		6,406
USD	108,324	CLP	101,976	4/29/2024	HUB		6,348		—		6,348
USD	107,207	CLP	101,976	4/29/2024	HUB		5,231		—		5,231
USD	107,146	CLP	101,976	4/29/2024	HUB		5,170		—		5,170
USD	106,756	CLP	101,976	4/29/2024	HUB		4,780		—		4,780
USD	108,303	CLP	101,976	4/29/2024	HUB		6,327		—		6,327
USD	107,234	CLP	101,976	4/29/2024	HUB		5,258		—		5,258
USD	107,254	CLP	101,976	4/29/2024	HUB		5,278		—		5,278
USD	106,874	CLP	101,976	4/29/2024	HUB		4,898		—		4,898
USD	106,604	CLP	101,976	4/29/2024	HUB		4,628		—		4,628
USD	108,348	CLP	101,976	4/29/2024	HUB		6,372		—		6,372
USD	108,323	CLP	101,976	4/29/2024	HUB		6,347		—		6,347
USD	108,279	CLP	101,976	4/29/2024	HUB		6,303		—		6,303
USD	108,254	CLP	101,976	4/29/2024	HUB		6,278		—		6,278
USD	108,205	CLP	101,976	4/29/2024	HUB		6,229		—		6,229
USD	108,306	CLP	101,976	4/29/2024	HUB		6,330		—		6,330
USD	108,218	CLP	101,976	4/29/2024	HUB		6,242		—		6,242
USD	108,198	CLP	101,976	4/29/2024	HUB		6,222		—		6,222

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)		Net Unrealized Appreciation (Depreciation)
USD	108,322	CLP	101,976	4/29/2024	HUB	$	6,346	$	—	$	6,346
USD	108,122	CLP	101,976	4/29/2024	HUB		6,146		—		6,146
USD	108,205	CLP	101,976	4/29/2024	HUB		6,229		—		6,229
USD	108,158	CLP	101,976	4/29/2024	HUB		6,182		—		6,182
USD	108,266	CLP	101,976	4/29/2024	HUB		6,290		—		6,290
USD	107,173	CLP	101,976	4/29/2024	HUB		5,197		—		5,197
USD	107,151	CLP	101,976	4/29/2024	HUB		5,175		—		5,175
USD	107,223	CLP	101,976	4/29/2024	HUB		5,247		—		5,247
USD	107,125	CLP	101,976	4/29/2024	HUB		5,149		—		5,149
USD	107,123	CLP	101,976	4/29/2024	HUB		5,147		—		5,147
USD	107,242	CLP	101,976	4/29/2024	HUB		5,266		—		5,266
USD	107,234	CLP	101,976	4/29/2024	HUB		5,258		—		5,258
USD	107,181	CLP	101,976	4/29/2024	HUB		5,205		—		5,205
USD	107,192	CLP	101,976	4/29/2024	HUB		5,216		—		5,216
USD	53,536	CLP	50,988	4/29/2024	HUB		2,548		—		2,548
USD	53,476	CLP	50,988	4/29/2024	HUB		2,488		—		2,488
USD	53,651	CLP	50,988	4/29/2024	HUB		2,663		—		2,663
USD	53,623	CLP	50,988	4/29/2024	HUB		2,635		—		2,635
USD	53,631	CLP	50,988	4/29/2024	HUB		2,643		—		2,643
USD	53,592	CLP	50,988	4/29/2024	HUB		2,604		—		2,604
USD	53,627	CLP	50,988	4/29/2024	HUB		2,639		—		2,639
USD	53,616	CLP	50,988	4/29/2024	HUB		2,628		—		2,628
USD	53,586	CLP	50,988	4/29/2024	HUB		2,598		—		2,598
USD	53,606	CLP	50,988	4/29/2024	HUB		2,618		—		2,618
USD	53,589	CLP	50,988	4/29/2024	HUB		2,601		—		2,601
USD	53,577	CLP	50,988	4/29/2024	HUB		2,589		—		2,589
USD	53,584	CLP	50,988	4/29/2024	HUB		2,596		—		2,596
USD	53,677	CLP	50,988	4/29/2024	HUB		2,689		—		2,689
USD	54,101	CLP	50,988	4/29/2024	HUB		3,113		—		3,113
USD	54,119	CLP	50,988	4/29/2024	HUB		3,131		—		3,131
USD	54,047	CLP	50,988	4/29/2024	HUB		3,059		—		3,059
USD	53,936	CLP	50,988	4/29/2024	HUB		2,948		—		2,948
USD	53,980	CLP	50,988	4/29/2024	HUB		2,992		—		2,992
USD	54,087	CLP	50,988	4/29/2024	HUB		3,099		—		3,099
USD	54,077	CLP	50,988	4/29/2024	HUB		3,089		—		3,089
USD	54,094	CLP	50,988	4/29/2024	HUB		3,106		—		3,106
USD	53,608	CLP	50,988	4/29/2024	HUB		2,620		—		2,620
USD	53,604	CLP	50,988	4/29/2024	HUB		2,616		—		2,616
USD	53,604	CLP	50,988	4/29/2024	HUB		2,616		—		2,616
USD	53,516	CLP	50,988	4/29/2024	HUB		2,528		—		2,528
USD	53,623	CLP	50,988	4/29/2024	HUB		2,635		—		2,635
USD	53,550	CLP	50,988	4/29/2024	HUB		2,562		—		2,562
USD	53,510	CLP	50,988	4/29/2024	HUB		2,522		—		2,522
USD	54,122	CLP	50,988	4/29/2024	HUB		3,134		—		3,134
USD	54,126	CLP	50,988	4/29/2024	HUB		3,138		—		3,138
USD	53,573	CLP	50,988	4/29/2024	HUB		2,585		—		2,585
USD	53,595	CLP	50,988	4/29/2024	HUB		2,607		—		2,607
USD	53,648	CLP	50,988	4/29/2024	HUB		2,660		—		2,660
USD	54,221	CLP	50,988	4/29/2024	HUB		3,233		—		3,233
USD	54,194	CLP	50,988	4/29/2024	HUB		3,206		—		3,206
USD	54,108	CLP	50,988	4/29/2024	HUB		3,120		—		3,120
USD	54,175	CLP	50,988	4/29/2024	HUB		3,187		—		3,187
USD	54,006	CLP	50,988	4/29/2024	HUB		3,018		—		3,018
USD	54,042	CLP	50,988	4/29/2024	HUB		3,054		—		3,054
USD	54,130	CLP	50,988	4/29/2024	HUB		3,142		—		3,142

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	54,142	CLP	50,988	4/29/2024	HUB	$	3,154	$	—		$	3,154
USD	54,082	CLP	50,988	4/29/2024	HUB		3,094		—			3,094
USD	54,004	CLP	50,988	4/29/2024	HUB		3,016		—			3,016
USD	54,033	CLP	50,988	4/29/2024	HUB		3,045		—			3,045
USD	54,122	CLP	50,988	4/29/2024	HUB		3,134		—			3,134
USD	54,108	CLP	50,988	4/29/2024	HUB		3,120		—			3,120
USD	53,616	CLP	50,988	4/29/2024	HUB		2,628		—			2,628
USD	53,615	CLP	50,988	4/29/2024	HUB		2,627		—			2,627
USD	53,587	CLP	50,988	4/29/2024	HUB		2,599		—			2,599
USD	53,588	CLP	50,988	4/29/2024	HUB		2,600		—			2,600
USD	53,651	CLP	50,988	4/29/2024	HUB		2,663		—			2,663
USD	53,581	CLP	50,988	4/29/2024	HUB		2,593		—			2,593
USD	53,582	CLP	50,988	4/29/2024	HUB		2,594		—			2,594
USD	53,612	CLP	50,988	4/29/2024	HUB		2,624		—			2,624
USD	53,598	CLP	50,988	4/29/2024	HUB		2,610		—			2,610
USD	53,535	CLP	50,988	4/29/2024	HUB		2,547		—			2,547
BRL	19,877	USD	20,011	5/3/2024	HUB		—		(134	)		(134	)
BRL	39,753	USD	39,644	5/3/2024	HUB		109		—			109
BRL	39,753	USD	40,016	5/3/2024	HUB		—		(263	)		(263	)
BRL	39,753	USD	39,979	5/3/2024	HUB		—		(226	)		(226	)
BRL	39,753	USD	40,040	5/3/2024	HUB		—		(287	)		(287	)
BRL	39,753	USD	39,988	5/3/2024	HUB		—		(235	)		(235	)
BRL	39,753	USD	39,915	5/3/2024	HUB		—		(162	)		(162	)
BRL	59,630	USD	59,501	5/3/2024	HUB		129		—			129
BRL	59,630	USD	59,490	5/3/2024	HUB		140		—			140
BRL	59,630	USD	59,537	5/3/2024	HUB		93		—			93
BRL	59,630	USD	59,505	5/3/2024	HUB		125		—			125
BRL	59,630	USD	59,501	5/3/2024	HUB		129		—			129
BRL	59,630	USD	59,489	5/3/2024	HUB		141		—			141
BRL	59,630	USD	59,969	5/3/2024	HUB		—		(339	)		(339	)
BRL	59,630	USD	59,936	5/3/2024	HUB		—		(306	)		(306	)
BRL	59,630	USD	59,959	5/3/2024	HUB		—		(329	)		(329	)
BRL	59,630	USD	59,989	5/3/2024	HUB		—		(359	)		(359	)
BRL	59,630	USD	59,969	5/3/2024	HUB		—		(339	)		(339	)
BRL	59,630	USD	59,999	5/3/2024	HUB		—		(369	)		(369	)
BRL	59,630	USD	60,006	5/3/2024	HUB		—		(376	)		(376	)
BRL	59,630	USD	59,826	5/3/2024	HUB		—		(196	)		(196	)
BRL	59,630	USD	59,977	5/3/2024	HUB		—		(347	)		(347	)
BRL	59,630	USD	59,975	5/3/2024	HUB		—		(345	)		(345	)
BRL	79,507	USD	79,332	5/3/2024	HUB		175		—			175
BRL	79,507	USD	79,356	5/3/2024	HUB		151		—			151
BRL	79,507	USD	79,402	5/3/2024	HUB		105		—			105
BRL	79,507	USD	80,016	5/3/2024	HUB		—		(509	)		(509	)
BRL	79,507	USD	79,967	5/3/2024	HUB		—		(460	)		(460	)
BRL	79,507	USD	79,983	5/3/2024	HUB		—		(476	)		(476	)
BRL	79,507	USD	79,917	5/3/2024	HUB		—		(410	)		(410	)
BRL	79,507	USD	79,813	5/3/2024	HUB		—		(306	)		(306	)
BRL	79,507	USD	79,669	5/3/2024	HUB		—		(162	)		(162	)
BRL	79,507	USD	79,935	5/3/2024	HUB		—		(428	)		(428	)
BRL	79,507	USD	79,764	5/3/2024	HUB		—		(257	)		(257	)
BRL	79,507	USD	79,959	5/3/2024	HUB		—		(452	)		(452	)
BRL	79,507	USD	79,971	5/3/2024	HUB		—		(464	)		(464	)
BRL	79,507	USD	79,889	5/3/2024	HUB		—		(382	)		(382	)
BRL	79,507	USD	79,936	5/3/2024	HUB		—		(429	)		(429	)
BRL	79,507	USD	80,027	5/3/2024	HUB		—		(520	)		(520	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	79,507	USD	80,024	5/3/2024	HUB	$	—	$	(517	)	$	(517	)
BRL	79,507	USD	79,989	5/3/2024	HUB		—		(482	)		(482	)
BRL	79,507	USD	79,998	5/3/2024	HUB		—		(491	)		(491	)
BRL	79,507	USD	80,002	5/3/2024	HUB		—		(495	)		(495	)
BRL	79,507	USD	79,994	5/3/2024	HUB		—		(487	)		(487	)
BRL	79,507	USD	79,854	5/3/2024	HUB		—		(347	)		(347	)
BRL	79,507	USD	79,753	5/3/2024	HUB		—		(246	)		(246	)
BRL	79,507	USD	79,976	5/3/2024	HUB		—		(469	)		(469	)
BRL	99,383	USD	99,228	5/3/2024	HUB		155		—			155
BRL	99,383	USD	99,155	5/3/2024	HUB		228		—			228
BRL	99,383	USD	99,872	5/3/2024	HUB		—		(489	)		(489	)
BRL	99,383	USD	99,910	5/3/2024	HUB		—		(527	)		(527	)
BRL	99,383	USD	100,032	5/3/2024	HUB		—		(649	)		(649	)
BRL	99,383	USD	99,934	5/3/2024	HUB		—		(551	)		(551	)
BRL	99,383	USD	99,847	5/3/2024	HUB		—		(464	)		(464	)
BRL	99,383	USD	99,910	5/3/2024	HUB		—		(527	)		(527	)
BRL	99,383	USD	99,685	5/3/2024	HUB		—		(302	)		(302	)
BRL	99,383	USD	99,726	5/3/2024	HUB		—		(343	)		(343	)
BRL	99,383	USD	99,958	5/3/2024	HUB		—		(575	)		(575	)
BRL	99,383	USD	99,976	5/3/2024	HUB		—		(593	)		(593	)
BRL	99,383	USD	100,006	5/3/2024	HUB		—		(623	)		(623	)
BRL	99,383	USD	99,988	5/3/2024	HUB		—		(605	)		(605	)
BRL	99,383	USD	99,930	5/3/2024	HUB		—		(547	)		(547	)
BRL	99,383	USD	99,956	5/3/2024	HUB		—		(573	)		(573	)
BRL	99,383	USD	99,993	5/3/2024	HUB		—		(610	)		(610	)
BRL	99,383	USD	99,966	5/3/2024	HUB		—		(583	)		(583	)
BRL	99,383	USD	99,906	5/3/2024	HUB		—		(523	)		(523	)
BRL	99,383	USD	99,938	5/3/2024	HUB		—		(555	)		(555	)
BRL	99,383	USD	99,968	5/3/2024	HUB		—		(585	)		(585	)
BRL	99,383	USD	99,983	5/3/2024	HUB		—		(600	)		(600	)
BRL	99,383	USD	100,042	5/3/2024	HUB		—		(659	)		(659	)
BRL	99,383	USD	100,042	5/3/2024	HUB		—		(659	)		(659	)
BRL	99,383	USD	100,005	5/3/2024	HUB		—		(622	)		(622	)
BRL	99,383	USD	99,866	5/3/2024	HUB		—		(483	)		(483	)
BRL	99,383	USD	100,104	5/3/2024	HUB		—		(721	)		(721	)
BRL	99,383	USD	100,144	5/3/2024	HUB		—		(761	)		(761	)
BRL	99,383	USD	99,892	5/3/2024	HUB		—		(509	)		(509	)
BRL	99,383	USD	99,932	5/3/2024	HUB		—		(549	)		(549	)
BRL	99,383	USD	99,965	5/3/2024	HUB		—		(582	)		(582	)
BRL	99,383	USD	100,022	5/3/2024	HUB		—		(639	)		(639	)
BRL	99,383	USD	100,022	5/3/2024	HUB		—		(639	)		(639	)
BRL	99,383	USD	99,978	5/3/2024	HUB		—		(595	)		(595	)
BRL	99,383	USD	99,944	5/3/2024	HUB		—		(561	)		(561	)
BRL	99,383	USD	99,854	5/3/2024	HUB		—		(471	)		(471	)
BRL	99,383	USD	99,871	5/3/2024	HUB		—		(488	)		(488	)
BRL	99,383	USD	100,140	5/3/2024	HUB		—		(757	)		(757	)
BRL	99,383	USD	100,042	5/3/2024	HUB		—		(659	)		(659	)
BRL	119,260	USD	119,052	5/3/2024	HUB		208		—			208
BRL	119,260	USD	119,076	5/3/2024	HUB		184		—			184
BRL	119,260	USD	119,035	5/3/2024	HUB		225		—			225
BRL	119,260	USD	119,018	5/3/2024	HUB		242		—			242
BRL	119,260	USD	119,033	5/3/2024	HUB		227		—			227
BRL	119,260	USD	119,892	5/3/2024	HUB		—		(632	)		(632	)
BRL	119,260	USD	119,921	5/3/2024	HUB		—		(661	)		(661	)
BRL	119,260	USD	119,868	5/3/2024	HUB		—		(608	)		(608	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	119,260	USD	119,813	5/3/2024	HUB	$	—	$	(553	)	$	(553	)
BRL	119,260	USD	119,799	5/3/2024	HUB		—		(539	)		(539	)
BRL	119,260	USD	119,966	5/3/2024	HUB		—		(706	)		(706	)
BRL	119,260	USD	119,964	5/3/2024	HUB		—		(704	)		(704	)
BRL	119,260	USD	119,921	5/3/2024	HUB		—		(661	)		(661	)
BRL	119,260	USD	119,925	5/3/2024	HUB		—		(665	)		(665	)
BRL	119,260	USD	119,983	5/3/2024	HUB		—		(723	)		(723	)
BRL	119,260	USD	119,904	5/3/2024	HUB		—		(644	)		(644	)
BRL	119,260	USD	119,830	5/3/2024	HUB		—		(570	)		(570	)
BRL	119,260	USD	119,904	5/3/2024	HUB		—		(644	)		(644	)
BRL	119,260	USD	119,913	5/3/2024	HUB		—		(653	)		(653	)
BRL	119,260	USD	119,724	5/3/2024	HUB		—		(464	)		(464	)
BRL	119,260	USD	119,738	5/3/2024	HUB		—		(478	)		(478	)
BRL	119,260	USD	120,012	5/3/2024	HUB		—		(752	)		(752	)
BRL	119,260	USD	119,964	5/3/2024	HUB		—		(704	)		(704	)
BRL	119,260	USD	119,937	5/3/2024	HUB		—		(677	)		(677	)
BRL	119,260	USD	119,983	5/3/2024	HUB		—		(723	)		(723	)
BRL	119,260	USD	119,945	5/3/2024	HUB		—		(685	)		(685	)
BRL	119,260	USD	119,897	5/3/2024	HUB		—		(637	)		(637	)
BRL	119,260	USD	119,902	5/3/2024	HUB		—		(642	)		(642	)
BRL	119,260	USD	120,014	5/3/2024	HUB		—		(754	)		(754	)
BRL	119,260	USD	119,983	5/3/2024	HUB		—		(723	)		(723	)
BRL	119,260	USD	119,902	5/3/2024	HUB		—		(642	)		(642	)
BRL	119,260	USD	119,867	5/3/2024	HUB		—		(607	)		(607	)
BRL	119,260	USD	120,185	5/3/2024	HUB		—		(925	)		(925	)
BRL	119,260	USD	120,094	5/3/2024	HUB		—		(834	)		(834	)
BRL	119,260	USD	119,930	5/3/2024	HUB		—		(670	)		(670	)
BRL	119,260	USD	120,040	5/3/2024	HUB		—		(780	)		(780	)
BRL	119,260	USD	120,070	5/3/2024	HUB		—		(810	)		(810	)
BRL	119,260	USD	120,023	5/3/2024	HUB		—		(763	)		(763	)
BRL	139,137	USD	138,872	5/3/2024	HUB		265		—			265
BRL	139,137	USD	139,855	5/3/2024	HUB		—		(718	)		(718	)
BRL	139,137	USD	139,853	5/3/2024	HUB		—		(716	)		(716	)
BRL	139,137	USD	139,914	5/3/2024	HUB		—		(777	)		(777	)
BRL	139,137	USD	139,877	5/3/2024	HUB		—		(740	)		(740	)
BRL	139,137	USD	139,821	5/3/2024	HUB		—		(684	)		(684	)
BRL	139,137	USD	139,788	5/3/2024	HUB		—		(651	)		(651	)
BRL	139,137	USD	139,889	5/3/2024	HUB		—		(752	)		(752	)
BRL	139,137	USD	139,922	5/3/2024	HUB		—		(785	)		(785	)
BRL	139,137	USD	139,818	5/3/2024	HUB		—		(681	)		(681	)
BRL	139,137	USD	139,930	5/3/2024	HUB		—		(793	)		(793	)
BRL	139,137	USD	139,953	5/3/2024	HUB		—		(816	)		(816	)
BRL	139,137	USD	139,913	5/3/2024	HUB		—		(776	)		(776	)
BRL	139,137	USD	139,899	5/3/2024	HUB		—		(762	)		(762	)
BRL	139,137	USD	139,855	5/3/2024	HUB		—		(718	)		(718	)
BRL	139,137	USD	139,969	5/3/2024	HUB		—		(832	)		(832	)
BRL	139,137	USD	139,986	5/3/2024	HUB		—		(849	)		(849	)
BRL	139,137	USD	139,922	5/3/2024	HUB		—		(785	)		(785	)
BRL	139,137	USD	140,031	5/3/2024	HUB		—		(894	)		(894	)
BRL	139,137	USD	139,807	5/3/2024	HUB		—		(670	)		(670	)
BRL	139,137	USD	139,818	5/3/2024	HUB		—		(681	)		(681	)
BRL	139,137	USD	139,899	5/3/2024	HUB		—		(762	)		(762	)
BRL	139,137	USD	139,769	5/3/2024	HUB		—		(632	)		(632	)
BRL	139,137	USD	140,026	5/3/2024	HUB		—		(889	)		(889	)
BRL	139,137	USD	139,969	5/3/2024	HUB		—		(832	)		(832	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	139,137	USD	140,058	5/3/2024	HUB	$	—	$	(921	)	$	(921	)
BRL	139,137	USD	139,941	5/3/2024	HUB		—		(804	)		(804	)
BRL	139,137	USD	140,051	5/3/2024	HUB		—		(914	)		(914	)
BRL	139,137	USD	139,793	5/3/2024	HUB		—		(656	)		(656	)
BRL	139,137	USD	140,145	5/3/2024	HUB		—		(1,008	)		(1,008	)
BRL	139,137	USD	140,140	5/3/2024	HUB		—		(1,003	)		(1,003	)
BRL	139,137	USD	140,168	5/3/2024	HUB		—		(1,031	)		(1,031	)
BRL	139,137	USD	140,034	5/3/2024	HUB		—		(897	)		(897	)
BRL	139,137	USD	140,132	5/3/2024	HUB		—		(995	)		(995	)
BRL	139,137	USD	140,144	5/3/2024	HUB		—		(1,007	)		(1,007	)
BRL	139,137	USD	139,895	5/3/2024	HUB		—		(758	)		(758	)
BRL	139,137	USD	139,877	5/3/2024	HUB		—		(740	)		(740	)
BRL	139,137	USD	140,017	5/3/2024	HUB		—		(880	)		(880	)
BRL	139,137	USD	139,972	5/3/2024	HUB		—		(835	)		(835	)
BRL	139,137	USD	139,684	5/3/2024	HUB		—		(547	)		(547	)
BRL	139,137	USD	140,016	5/3/2024	HUB		—		(879	)		(879	)
BRL	159,014	USD	159,895	5/3/2024	HUB		—		(881	)		(881	)
BRL	159,014	USD	159,828	5/3/2024	HUB		—		(814	)		(814	)
BRL	159,014	USD	159,812	5/3/2024	HUB		—		(798	)		(798	)
BRL	159,014	USD	159,684	5/3/2024	HUB		—		(670	)		(670	)
BRL	159,014	USD	159,858	5/3/2024	HUB		—		(844	)		(844	)
BRL	159,014	USD	159,917	5/3/2024	HUB		—		(903	)		(903	)
BRL	159,014	USD	159,965	5/3/2024	HUB		—		(951	)		(951	)
BRL	159,014	USD	159,952	5/3/2024	HUB		—		(938	)		(938	)
BRL	159,014	USD	159,965	5/3/2024	HUB		—		(951	)		(951	)
BRL	159,014	USD	159,933	5/3/2024	HUB		—		(919	)		(919	)
BRL	159,014	USD	159,779	5/3/2024	HUB		—		(765	)		(765	)
BRL	159,014	USD	159,795	5/3/2024	HUB		—		(781	)		(781	)
BRL	159,014	USD	159,901	5/3/2024	HUB		—		(887	)		(887	)
BRL	159,014	USD	159,975	5/3/2024	HUB		—		(961	)		(961	)
BRL	159,014	USD	159,927	5/3/2024	HUB		—		(913	)		(913	)
BRL	159,014	USD	160,145	5/3/2024	HUB		—		(1,131	)		(1,131	)
BRL	159,014	USD	159,968	5/3/2024	HUB		—		(954	)		(954	)
BRL	159,014	USD	160,029	5/3/2024	HUB		—		(1,015	)		(1,015	)
BRL	159,014	USD	160,071	5/3/2024	HUB		—		(1,057	)		(1,057	)
BRL	159,014	USD	159,608	5/3/2024	HUB		—		(594	)		(594	)
BRL	159,014	USD	159,777	5/3/2024	HUB		—		(763	)		(763	)
BRL	159,014	USD	160,100	5/3/2024	HUB		—		(1,086	)		(1,086	)
BRL	159,014	USD	159,974	5/3/2024	HUB		—		(960	)		(960	)
BRL	159,014	USD	160,122	5/3/2024	HUB		—		(1,108	)		(1,108	)
BRL	159,014	USD	159,936	5/3/2024	HUB		—		(922	)		(922	)
BRL	159,014	USD	159,898	5/3/2024	HUB		—		(884	)		(884	)
BRL	159,014	USD	159,879	5/3/2024	HUB		—		(865	)		(865	)
BRL	159,014	USD	159,820	5/3/2024	HUB		—		(806	)		(806	)
BRL	159,014	USD	160,013	5/3/2024	HUB		—		(999	)		(999	)
BRL	159,014	USD	160,004	5/3/2024	HUB		—		(990	)		(990	)
BRL	178,890	USD	179,849	5/3/2024	HUB		—		(959	)		(959	)
BRL	178,890	USD	179,824	5/3/2024	HUB		—		(934	)		(934	)
BRL	178,890	USD	179,778	5/3/2024	HUB		—		(888	)		(888	)
BRL	178,890	USD	179,881	5/3/2024	HUB		—		(991	)		(991	)
BRL	178,890	USD	179,906	5/3/2024	HUB		—		(1,016	)		(1,016	)
BRL	178,890	USD	179,877	5/3/2024	HUB		—		(987	)		(987	)
BRL	178,890	USD	179,886	5/3/2024	HUB		—		(996	)		(996	)
BRL	178,890	USD	179,921	5/3/2024	HUB		—		(1,031	)		(1,031	)
BRL	178,890	USD	179,752	5/3/2024	HUB		—		(862	)		(862	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	178,890	USD	179,939	5/3/2024	HUB	$	—	$	(1,049	)	$	(1,049	)
BRL	178,890	USD	179,917	5/3/2024	HUB		—		(1,027	)		(1,027	)
BRL	178,890	USD	179,960	5/3/2024	HUB		—		(1,070	)		(1,070	)
BRL	178,890	USD	179,996	5/3/2024	HUB		—		(1,106	)		(1,106	)
BRL	178,890	USD	179,806	5/3/2024	HUB		—		(916	)		(916	)
BRL	178,890	USD	180,187	5/3/2024	HUB		—		(1,297	)		(1,297	)
BRL	178,890	USD	179,843	5/3/2024	HUB		—		(953	)		(953	)
BRL	178,890	USD	179,827	5/3/2024	HUB		—		(937	)		(937	)
BRL	178,890	USD	179,986	5/3/2024	HUB		—		(1,096	)		(1,096	)
BRL	198,767	USD	199,832	5/3/2024	HUB		—		(1,065	)		(1,065	)
BRL	198,767	USD	199,796	5/3/2024	HUB		—		(1,029	)		(1,029	)
BRL	198,767	USD	199,888	5/3/2024	HUB		—		(1,121	)		(1,121	)
BRL	198,767	USD	199,864	5/3/2024	HUB		—		(1,097	)		(1,097	)
BRL	198,767	USD	199,944	5/3/2024	HUB		—		(1,177	)		(1,177	)
BRL	198,767	USD	199,815	5/3/2024	HUB		—		(1,048	)		(1,048	)
BRL	198,767	USD	199,776	5/3/2024	HUB		—		(1,009	)		(1,009	)
BRL	198,767	USD	199,896	5/3/2024	HUB		—		(1,129	)		(1,129	)
BRL	198,767	USD	199,750	5/3/2024	HUB		—		(983	)		(983	)
BRL	198,767	USD	199,732	5/3/2024	HUB		—		(965	)		(965	)
BRL	198,767	USD	199,897	5/3/2024	HUB		—		(1,130	)		(1,130	)
BRL	198,767	USD	199,908	5/3/2024	HUB		—		(1,141	)		(1,141	)
BRL	198,767	USD	200,020	5/3/2024	HUB		—		(1,253	)		(1,253	)
BRL	198,767	USD	200,040	5/3/2024	HUB		—		(1,273	)		(1,273	)
BRL	198,767	USD	200,100	5/3/2024	HUB		—		(1,333	)		(1,333	)
BRL	198,767	USD	200,144	5/3/2024	HUB		—		(1,377	)		(1,377	)
BRL	198,767	USD	200,080	5/3/2024	HUB		—		(1,313	)		(1,313	)
BRL	198,767	USD	200,305	5/3/2024	HUB		—		(1,538	)		(1,538	)
BRL	198,767	USD	200,316	5/3/2024	HUB		—		(1,549	)		(1,549	)
BRL	198,767	USD	199,972	5/3/2024	HUB		—		(1,205	)		(1,205	)
BRL	198,767	USD	200,048	5/3/2024	HUB		—		(1,281	)		(1,281	)
BRL	198,767	USD	200,386	5/3/2024	HUB		—		(1,619	)		(1,619	)
BRL	198,767	USD	200,037	5/3/2024	HUB		—		(1,270	)		(1,270	)
BRL	198,767	USD	199,804	5/3/2024	HUB		—		(1,037	)		(1,037	)
BRL	198,767	USD	200,014	5/3/2024	HUB		—		(1,247	)		(1,247	)
BRL	198,767	USD	200,184	5/3/2024	HUB		—		(1,417	)		(1,417	)
BRL	218,644	USD	219,741	5/3/2024	HUB		—		(1,097	)		(1,097	)
BRL	218,644	USD	219,870	5/3/2024	HUB		—		(1,226	)		(1,226	)
BRL	218,644	USD	219,702	5/3/2024	HUB		—		(1,058	)		(1,058	)
BRL	218,644	USD	220,119	5/3/2024	HUB		—		(1,475	)		(1,475	)
BRL	218,644	USD	219,798	5/3/2024	HUB		—		(1,154	)		(1,154	)
BRL	218,644	USD	219,882	5/3/2024	HUB		—		(1,238	)		(1,238	)
BRL	218,644	USD	220,163	5/3/2024	HUB		—		(1,519	)		(1,519	)
BRL	218,644	USD	220,093	5/3/2024	HUB		—		(1,449	)		(1,449	)
BRL	218,644	USD	219,930	5/3/2024	HUB		—		(1,286	)		(1,286	)
BRL	218,644	USD	219,504	5/3/2024	HUB		—		(860	)		(860	)
BRL	218,644	USD	220,132	5/3/2024	HUB		—		(1,488	)		(1,488	)
BRL	218,644	USD	220,049	5/3/2024	HUB		—		(1,405	)		(1,405	)
BRL	218,644	USD	220,225	5/3/2024	HUB		—		(1,581	)		(1,581	)
BRL	218,644	USD	219,846	5/3/2024	HUB		—		(1,202	)		(1,202	)
BRL	218,644	USD	219,820	5/3/2024	HUB		—		(1,176	)		(1,176	)
BRL	218,644	USD	220,124	5/3/2024	HUB		—		(1,480	)		(1,480	)
BRL	218,644	USD	220,277	5/3/2024	HUB		—		(1,633	)		(1,633	)
BRL	238,520	USD	239,774	5/3/2024	HUB		—		(1,254	)		(1,254	)
BRL	238,520	USD	239,698	5/3/2024	HUB		—		(1,178	)		(1,178	)
BRL	238,520	USD	239,995	5/3/2024	HUB		—		(1,475	)		(1,475	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	238,520	USD	239,942	5/3/2024	HUB	$	—	$	(1,422	)	$	(1,422	)
BRL	238,520	USD	240,083	5/3/2024	HUB		—		(1,563	)		(1,563	)
BRL	238,520	USD	240,186	5/3/2024	HUB		—		(1,666	)		(1,666	)
BRL	238,520	USD	240,331	5/3/2024	HUB		—		(1,811	)		(1,811	)
BRL	238,520	USD	239,741	5/3/2024	HUB		—		(1,221	)		(1,221	)
BRL	238,520	USD	240,240	5/3/2024	HUB		—		(1,720	)		(1,720	)
BRL	238,520	USD	240,120	5/3/2024	HUB		—		(1,600	)		(1,600	)
BRL	238,520	USD	240,068	5/3/2024	HUB		—		(1,548	)		(1,548	)
BRL	258,397	USD	260,021	5/3/2024	HUB		—		(1,624	)		(1,624	)
BRL	258,397	USD	259,974	5/3/2024	HUB		—		(1,577	)		(1,577	)
BRL	258,397	USD	259,969	5/3/2024	HUB		—		(1,572	)		(1,572	)
BRL	258,397	USD	260,005	5/3/2024	HUB		—		(1,608	)		(1,608	)
BRL	258,397	USD	260,156	5/3/2024	HUB		—		(1,759	)		(1,759	)
BRL	258,397	USD	260,038	5/3/2024	HUB		—		(1,641	)		(1,641	)
BRL	258,397	USD	260,031	5/3/2024	HUB		—		(1,634	)		(1,634	)
BRL	258,397	USD	260,333	5/3/2024	HUB		—		(1,936	)		(1,936	)
BRL	278,274	USD	280,505	5/3/2024	HUB		—		(2,231	)		(2,231	)
BRL	278,274	USD	279,995	5/3/2024	HUB		—		(1,721	)		(1,721	)
BRL	278,274	USD	280,320	5/3/2024	HUB		—		(2,046	)		(2,046	)
BRL	278,274	USD	280,224	5/3/2024	HUB		—		(1,950	)		(1,950	)
BRL	278,274	USD	280,382	5/3/2024	HUB		—		(2,108	)		(2,108	)
BRL	278,274	USD	280,376	5/3/2024	HUB		—		(2,102	)		(2,102	)
BRL	278,274	USD	280,015	5/3/2024	HUB		—		(1,741	)		(1,741	)
BRL	278,274	USD	280,269	5/3/2024	HUB		—		(1,995	)		(1,995	)
BRL	278,274	USD	280,297	5/3/2024	HUB		—		(2,023	)		(2,023	)
BRL	278,274	USD	280,342	5/3/2024	HUB		—		(2,068	)		(2,068	)
BRL	278,274	USD	280,090	5/3/2024	HUB		—		(1,816	)		(1,816	)
BRL	278,274	USD	280,067	5/3/2024	HUB		—		(1,793	)		(1,793	)
BRL	298,150	USD	300,445	5/3/2024	HUB		—		(2,295	)		(2,295	)
BRL	298,150	USD	299,809	5/3/2024	HUB		—		(1,659	)		(1,659	)
BRL	298,150	USD	299,893	5/3/2024	HUB		—		(1,743	)		(1,743	)
BRL	298,150	USD	299,928	5/3/2024	HUB		—		(1,778	)		(1,778	)
BRL	298,150	USD	299,934	5/3/2024	HUB		—		(1,784	)		(1,784	)
BRL	298,150	USD	300,390	5/3/2024	HUB		—		(2,240	)		(2,240	)
BRL	298,150	USD	299,953	5/3/2024	HUB		—		(1,803	)		(1,803	)
BRL	298,150	USD	300,035	5/3/2024	HUB		—		(1,885	)		(1,885	)
BRL	318,027	USD	319,438	5/3/2024	HUB		—		(1,411	)		(1,411	)
BRL	318,027	USD	320,031	5/3/2024	HUB		—		(2,004	)		(2,004	)
BRL	318,027	USD	320,410	5/3/2024	HUB		—		(2,383	)		(2,383	)
BRL	318,027	USD	320,256	5/3/2024	HUB		—		(2,229	)		(2,229	)
BRL	318,027	USD	320,365	5/3/2024	HUB		—		(2,338	)		(2,338	)
BRL	318,027	USD	320,254	5/3/2024	HUB		—		(2,227	)		(2,227	)
BRL	318,027	USD	320,043	5/3/2024	HUB		—		(2,016	)		(2,016	)
BRL	337,904	USD	340,249	5/3/2024	HUB		—		(2,345	)		(2,345	)
BRL	337,904	USD	340,181	5/3/2024	HUB		—		(2,277	)		(2,277	)
BRL	337,904	USD	340,413	5/3/2024	HUB		—		(2,509	)		(2,509	)
BRL	337,904	USD	339,707	5/3/2024	HUB		—		(1,803	)		(1,803	)
BRL	337,904	USD	340,187	5/3/2024	HUB		—		(2,283	)		(2,283	)
BRL	337,904	USD	340,136	5/3/2024	HUB		—		(2,232	)		(2,232	)
BRL	357,780	USD	360,178	5/3/2024	HUB		—		(2,398	)		(2,398	)
BRL	357,780	USD	360,506	5/3/2024	HUB		—		(2,726	)		(2,726	)
BRL	357,780	USD	360,208	5/3/2024	HUB		—		(2,428	)		(2,428	)
BRL	357,780	USD	360,439	5/3/2024	HUB		—		(2,659	)		(2,659	)
BRL	377,657	USD	380,528	5/3/2024	HUB		—		(2,871	)		(2,871	)
BRL	377,657	USD	379,902	5/3/2024	HUB		—		(2,245	)		(2,245	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	377,657	USD	379,638	5/3/2024	HUB	$	—	$	(1,981	)	$	(1,981	)
BRL	397,534	USD	399,608	5/3/2024	HUB		—		(2,074	)		(2,074	)
BRL	397,534	USD	400,525	5/3/2024	HUB		—		(2,991	)		(2,991	)
BRL	397,534	USD	399,504	5/3/2024	HUB		—		(1,970	)		(1,970	)
BRL	417,411	USD	420,201	5/3/2024	HUB		—		(2,790	)		(2,790	)
BRL	417,411	USD	419,698	5/3/2024	HUB		—		(2,287	)		(2,287	)
BRL	496,917	USD	500,128	5/3/2024	HUB		—		(3,211	)		(3,211	)
BRL	496,917	USD	499,834	5/3/2024	HUB		—		(2,917	)		(2,917	)
BRL	516,794	USD	520,723	5/3/2024	HUB		—		(3,929	)		(3,929	)
BRL	516,794	USD	520,295	5/3/2024	HUB		—		(3,501	)		(3,501	)
BRL	536,671	USD	540,757	5/3/2024	HUB		—		(4,086	)		(4,086	)
BRL	536,671	USD	540,703	5/3/2024	HUB		—		(4,032	)		(4,032	)
BRL	556,547	USD	559,759	5/3/2024	HUB		—		(3,212	)		(3,212	)
BRL	556,547	USD	560,168	5/3/2024	HUB		—		(3,621	)		(3,621	)
BRL	576,424	USD	580,285	5/3/2024	HUB		—		(3,861	)		(3,861	)
BRL	576,424	USD	580,751	5/3/2024	HUB		—		(4,327	)		(4,327	)
BRL	576,424	USD	579,282	5/3/2024	HUB		—		(2,858	)		(2,858	)
BRL	596,301	USD	600,120	5/3/2024	HUB		—		(3,819	)		(3,819	)
BRL	596,301	USD	599,269	5/3/2024	HUB		—		(2,968	)		(2,968	)
BRL	596,301	USD	599,789	5/3/2024	HUB		—		(3,488	)		(3,488	)
BRL	596,301	USD	599,724	5/3/2024	HUB		—		(3,423	)		(3,423	)
BRL	655,931	USD	660,180	5/3/2024	HUB		—		(4,249	)		(4,249	)
BRL	655,931	USD	660,592	5/3/2024	HUB		—		(4,661	)		(4,661	)
BRL	655,931	USD	660,791	5/3/2024	HUB		—		(4,860	)		(4,860	)
BRL	655,931	USD	659,512	5/3/2024	HUB		—		(3,581	)		(3,581	)
BRL	695,684	USD	700,350	5/3/2024	HUB		—		(4,666	)		(4,666	)
BRL	695,684	USD	700,354	5/3/2024	HUB		—		(4,670	)		(4,670	)
BRL	735,438	USD	740,145	5/3/2024	HUB		—		(4,707	)		(4,707	)
BRL	755,314	USD	761,007	5/3/2024	HUB		—		(5,693	)		(5,693	)
BRL	775,191	USD	781,233	5/3/2024	HUB		—		(6,042	)		(6,042	)
BRL	775,191	USD	780,781	5/3/2024	HUB		—		(5,590	)		(5,590	)
BRL	795,068	USD	801,037	5/3/2024	HUB		—		(5,969	)		(5,969	)
BRL	795,068	USD	801,122	5/3/2024	HUB		—		(6,054	)		(6,054	)
BRL	934,205	USD	938,831	5/3/2024	HUB		—		(4,626	)		(4,626	)
BRL	973,958	USD	978,892	5/3/2024	HUB		—		(4,934	)		(4,934	)
BRL	1,033,588	USD	1,039,714	5/3/2024	HUB		—		(6,126	)		(6,126	)
BRL	1,172,725	USD	1,179,575	5/3/2024	HUB		—		(6,850	)		(6,850	)
BRL	1,590,136	USD	1,599,680	5/3/2024	HUB		—		(9,544	)		(9,544	)
BRL	7,070,157	USD	7,055,106	5/3/2024	HUB		15,051		—			15,051
BRL	7,070,157	USD	7,056,352	5/3/2024	HUB		13,805		—			13,805
BRL	7,070,157	USD	7,055,974	5/3/2024	HUB		14,183		—			14,183
BRL	13,908,337	USD	13,880,298	5/3/2024	HUB		28,039		—			28,039
BRL	13,967,289	USD	13,956,767	5/3/2024	HUB		10,522		—			10,522
BRL	13,967,289	USD	13,959,373	5/3/2024	HUB		7,916		—			7,916
BRL	14,107,184	USD	14,039,421	5/3/2024	HUB		67,763		—			67,763
BRL	15,275,127	USD	15,250,625	5/3/2024	HUB		24,502		—			24,502
BRL	17,701,520	USD	17,633,968	5/3/2024	HUB		67,552		—			67,552
BRL	17,701,521	USD	17,639,173	5/3/2024	HUB		62,348		—			62,348
BRL	20,153,120	USD	20,026,802	5/3/2024	HUB		126,318		—			126,318
BRL	35,350,786	USD	35,299,336	5/3/2024	HUB		51,450		—			51,450
USD	3,653,693	BRL	3,657,312	5/3/2024	HUB		—		(3,619	)		(3,619	)
USD	437,228	BRL	437,287	5/3/2024	HUB		—		(59	)		(59	)
USD	397,457	BRL	397,534	5/3/2024	HUB		—		(77	)		(77	)
USD	377,391	BRL	377,657	5/3/2024	HUB		—		(266	)		(266	)
USD	238,451	BRL	238,520	5/3/2024	HUB		—		(69	)		(69	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	218,446	BRL	218,644	5/3/2024	HUB	$	—	$	(198	)	$	(198	)
USD	159,144	BRL	159,014	5/3/2024	HUB		130		—			130
USD	158,977	BRL	159,014	5/3/2024	HUB		—		(37	)		(37	)
USD	159,122	BRL	159,014	5/3/2024	HUB		108		—			108
USD	159,239	BRL	159,014	5/3/2024	HUB		225		—			225
USD	139,095	BRL	139,137	5/3/2024	HUB		—		(42	)		(42	)
USD	139,229	BRL	139,137	5/3/2024	HUB		92		—			92
USD	139,301	BRL	139,137	5/3/2024	HUB		164		—			164
USD	119,412	BRL	119,260	5/3/2024	HUB		152		—			152
USD	119,204	BRL	119,260	5/3/2024	HUB		—		(56	)		(56	)
USD	119,389	BRL	119,260	5/3/2024	HUB		129		—			129
USD	99,411	BRL	99,384	5/3/2024	HUB		27		—			27
USD	59,612	BRL	59,630	5/3/2024	HUB		—		(18	)		(18	)
USD	59,611	BRL	59,630	5/3/2024	HUB		—		(19	)		(19	)
USD	59,701	BRL	59,630	5/3/2024	HUB		71		—			71
USD	108,239,302	KRW	106,889,974	5/10/2024	HUB		1,349,328		—			1,349,328
CNY	277,878	USD	281,746	5/14/2024	HUB		—		(3,868	)		(3,868	)
CNY	1,250,450	USD	1,268,504	5/14/2024	HUB		—		(18,054	)		(18,054	)
USD	1,544,684	CNY	1,528,328	5/14/2024	HUB		16,356		—			16,356
USD	1,471,722	CNY	1,458,858	5/14/2024	HUB		12,864		—			12,864
USD	1,403,864	CNY	1,389,389	5/14/2024	HUB		14,475		—			14,475
USD	1,404,593	CNY	1,389,389	5/14/2024	HUB		15,204		—			15,204
USD	1,334,625	CNY	1,319,919	5/14/2024	HUB		14,706		—			14,706
USD	1,261,441	CNY	1,250,450	5/14/2024	HUB		10,991		—			10,991
USD	1,190,626	CNY	1,180,980	5/14/2024	HUB		9,646		—			9,646
USD	910,798	CNY	903,103	5/14/2024	HUB		7,695		—			7,695
USD	912,576	CNY	903,103	5/14/2024	HUB		9,473		—			9,473
USD	913,076	CNY	903,103	5/14/2024	HUB		9,973		—			9,973
USD	841,278	CNY	833,633	5/14/2024	HUB		7,645		—			7,645
USD	632,165	CNY	625,225	5/14/2024	HUB		6,940		—			6,940
USD	350,990	CNY	347,347	5/14/2024	HUB		3,643		—			3,643
USD	140,422	CNY	138,939	5/14/2024	HUB		1,483		—			1,483
USD	3,595,110	PHP	3,599,168	5/22/2024	HUB		—		(4,058	)		(4,058	)
USD	2,490,748	PHP	2,495,618	5/22/2024	HUB		—		(4,870	)		(4,870	)
USD	2,248,303	PHP	2,252,219	5/22/2024	HUB		—		(3,916	)		(3,916	)
USD	2,143,221	PHP	2,146,764	5/22/2024	HUB		—		(3,543	)		(3,543	)
USD	1,961,648	PHP	1,963,604	5/22/2024	HUB		—		(1,956	)		(1,956	)
USD	1,944,068	PHP	1,947,800	5/22/2024	HUB		—		(3,732	)		(3,732	)
USD	1,944,529	PHP	1,946,603	5/22/2024	HUB		—		(2,074	)		(2,074	)
USD	1,596,177	PHP	1,599,630	5/22/2024	HUB		—		(3,453	)		(3,453	)
USD	1,329,763	PHP	1,333,025	5/22/2024	HUB		—		(3,262	)		(3,262	)
USD	1,151,837	PHP	1,155,289	5/22/2024	HUB		—		(3,452	)		(3,452	)
USD	1,108,450	PHP	1,110,854	5/22/2024	HUB		—		(2,404	)		(2,404	)
USD	1,108,018	PHP	1,110,854	5/22/2024	HUB		—		(2,836	)		(2,836	)
USD	1,107,202	PHP	1,110,854	5/22/2024	HUB		—		(3,652	)		(3,652	)
USD	664,929	PHP	666,513	5/22/2024	HUB		—		(1,584	)		(1,584	)
USD	488,059	PHP	488,776	5/22/2024	HUB		—		(717	)		(717	)
USD	487,092	PHP	488,776	5/22/2024	HUB		—		(1,684	)		(1,684	)
USD	444,017	PHP	444,342	5/22/2024	HUB		—		(325	)		(325	)
USD	443,554	PHP	444,342	5/22/2024	HUB		—		(788	)		(788	)
USD	443,585	PHP	444,342	5/22/2024	HUB		—		(757	)		(757	)
USD	444,050	PHP	444,342	5/22/2024	HUB		—		(292	)		(292	)
USD	444,074	PHP	444,342	5/22/2024	HUB		—		(268	)		(268	)
USD	399,234	PHP	399,908	5/22/2024	HUB		—		(674	)		(674	)
USD	398,689	PHP	399,908	5/22/2024	HUB		—		(1,219	)		(1,219	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	399,787	PHP	399,908	5/22/2024	HUB	$	—	$	(121	)	$	(121	)
USD	399,619	PHP	399,908	5/22/2024	HUB		—		(289	)		(289	)
USD	399,362	PHP	399,908	5/22/2024	HUB		—		(546	)		(546	)
USD	354,694	PHP	355,473	5/22/2024	HUB		—		(779	)		(779	)
USD	355,151	PHP	355,473	5/22/2024	HUB		—		(322	)		(322	)
USD	354,984	PHP	355,473	5/22/2024	HUB		—		(489	)		(489	)
USD	354,934	PHP	355,473	5/22/2024	HUB		—		(539	)		(539	)
USD	355,233	PHP	355,473	5/22/2024	HUB		—		(240	)		(240	)
USD	354,849	PHP	355,473	5/22/2024	HUB		—		(624	)		(624	)
USD	355,255	PHP	355,473	5/22/2024	HUB		—		(218	)		(218	)
USD	354,924	PHP	355,473	5/22/2024	HUB		—		(549	)		(549	)
USD	355,317	PHP	355,473	5/22/2024	HUB		—		(156	)		(156	)
USD	355,198	PHP	355,473	5/22/2024	HUB		—		(275	)		(275	)
USD	310,725	PHP	311,039	5/22/2024	HUB		—		(314	)		(314	)
USD	310,713	PHP	311,039	5/22/2024	HUB		—		(326	)		(326	)
USD	310,730	PHP	311,039	5/22/2024	HUB		—		(309	)		(309	)
USD	310,570	PHP	311,039	5/22/2024	HUB		—		(469	)		(469	)
USD	310,779	PHP	311,039	5/22/2024	HUB		—		(260	)		(260	)
USD	310,779	PHP	311,039	5/22/2024	HUB		—		(260	)		(260	)
USD	310,614	PHP	311,039	5/22/2024	HUB		—		(425	)		(425	)
USD	310,652	PHP	311,039	5/22/2024	HUB		—		(387	)		(387	)
USD	310,669	PHP	311,039	5/22/2024	HUB		—		(370	)		(370	)
USD	310,857	PHP	311,039	5/22/2024	HUB		—		(182	)		(182	)
USD	310,592	PHP	311,039	5/22/2024	HUB		—		(447	)		(447	)
USD	310,691	PHP	311,039	5/22/2024	HUB		—		(348	)		(348	)
USD	310,829	PHP	311,039	5/22/2024	HUB		—		(210	)		(210	)
USD	310,537	PHP	311,039	5/22/2024	HUB		—		(502	)		(502	)
USD	310,548	PHP	311,039	5/22/2024	HUB		—		(491	)		(491	)
USD	266,092	PHP	266,605	5/22/2024	HUB		—		(513	)		(513	)
USD	266,335	PHP	266,605	5/22/2024	HUB		—		(270	)		(270	)
USD	266,262	PHP	266,605	5/22/2024	HUB		—		(343	)		(343	)
USD	266,335	PHP	266,605	5/22/2024	HUB		—		(270	)		(270	)
USD	266,289	PHP	266,605	5/22/2024	HUB		—		(316	)		(316	)
USD	266,288	PHP	266,605	5/22/2024	HUB		—		(317	)		(317	)
USD	266,378	PHP	266,605	5/22/2024	HUB		—		(227	)		(227	)
USD	266,141	PHP	266,605	5/22/2024	HUB		—		(464	)		(464	)
USD	266,241	PHP	266,605	5/22/2024	HUB		—		(364	)		(364	)
USD	266,389	PHP	266,605	5/22/2024	HUB		—		(216	)		(216	)
USD	266,416	PHP	266,605	5/22/2024	HUB		—		(189	)		(189	)
USD	266,288	PHP	266,605	5/22/2024	HUB		—		(317	)		(317	)
USD	266,272	PHP	266,605	5/22/2024	HUB		—		(333	)		(333	)
USD	266,184	PHP	266,605	5/22/2024	HUB		—		(421	)		(421	)
USD	266,245	PHP	266,605	5/22/2024	HUB		—		(360	)		(360	)
USD	266,444	PHP	266,605	5/22/2024	HUB		—		(161	)		(161	)
USD	266,382	PHP	266,605	5/22/2024	HUB		—		(223	)		(223	)
USD	266,378	PHP	266,605	5/22/2024	HUB		—		(227	)		(227	)
USD	266,269	PHP	266,605	5/22/2024	HUB		—		(336	)		(336	)
USD	221,763	PHP	222,171	5/22/2024	HUB		—		(408	)		(408	)
USD	221,946	PHP	222,171	5/22/2024	HUB		—		(225	)		(225	)
USD	221,946	PHP	222,171	5/22/2024	HUB		—		(225	)		(225	)
USD	221,964	PHP	222,171	5/22/2024	HUB		—		(207	)		(207	)
USD	221,863	PHP	222,171	5/22/2024	HUB		—		(308	)		(308	)
USD	221,856	PHP	222,171	5/22/2024	HUB		—		(315	)		(315	)
USD	221,785	PHP	222,171	5/22/2024	HUB		—		(386	)		(386	)
USD	221,791	PHP	222,171	5/22/2024	HUB		—		(380	)		(380	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	221,915	PHP	222,171	5/22/2024	HUB	$	—	$	(256	)	$	(256	)
USD	221,816	PHP	222,171	5/22/2024	HUB		—		(355	)		(355	)
USD	221,824	PHP	222,171	5/22/2024	HUB		—		(347	)		(347	)
USD	221,773	PHP	222,171	5/22/2024	HUB		—		(398	)		(398	)
USD	222,001	PHP	222,171	5/22/2024	HUB		—		(170	)		(170	)
USD	221,808	PHP	222,171	5/22/2024	HUB		—		(363	)		(363	)
USD	177,408	PHP	177,737	5/22/2024	HUB		—		(329	)		(329	)
USD	177,572	PHP	177,737	5/22/2024	HUB		—		(165	)		(165	)
USD	177,443	PHP	177,737	5/22/2024	HUB		—		(294	)		(294	)
USD	177,480	PHP	177,737	5/22/2024	HUB		—		(257	)		(257	)
USD	177,529	PHP	177,737	5/22/2024	HUB		—		(208	)		(208	)
USD	177,495	PHP	177,737	5/22/2024	HUB		—		(242	)		(242	)
USD	177,556	PHP	177,737	5/22/2024	HUB		—		(181	)		(181	)
USD	177,589	PHP	177,737	5/22/2024	HUB		—		(148	)		(148	)
USD	177,478	PHP	177,737	5/22/2024	HUB		—		(259	)		(259	)
USD	177,460	PHP	177,737	5/22/2024	HUB		—		(277	)		(277	)
USD	177,506	PHP	177,737	5/22/2024	HUB		—		(231	)		(231	)
USD	177,623	PHP	177,737	5/22/2024	HUB		—		(114	)		(114	)
USD	177,614	PHP	177,737	5/22/2024	HUB		—		(123	)		(123	)
USD	177,582	PHP	177,737	5/22/2024	HUB		—		(155	)		(155	)
USD	177,425	PHP	177,737	5/22/2024	HUB		—		(312	)		(312	)
USD	177,540	PHP	177,737	5/22/2024	HUB		—		(197	)		(197	)
USD	177,481	PHP	177,737	5/22/2024	HUB		—		(256	)		(256	)
USD	133,192	PHP	133,303	5/22/2024	HUB		—		(111	)		(111	)
USD	133,148	PHP	133,303	5/22/2024	HUB		—		(155	)		(155	)
USD	133,069	PHP	133,303	5/22/2024	HUB		—		(234	)		(234	)
USD	133,243	PHP	133,303	5/22/2024	HUB		—		(60	)		(60	)
USD	133,187	PHP	133,303	5/22/2024	HUB		—		(116	)		(116	)
USD	88,781	PHP	88,868	5/22/2024	HUB		—		(87	)		(87	)
USD	88,794	PHP	88,868	5/22/2024	HUB		—		(74	)		(74	)
USD	88,787	PHP	88,868	5/22/2024	HUB		—		(81	)		(81	)
USD	88,737	PHP	88,868	5/22/2024	HUB		—		(131	)		(131	)
USD	88,759	PHP	88,868	5/22/2024	HUB		—		(109	)		(109	)
USD	88,762	PHP	88,868	5/22/2024	HUB		—		(106	)		(106	)
USD	88,797	PHP	88,868	5/22/2024	HUB		—		(71	)		(71	)
CLP	50,951	USD	53,038	5/30/2024	HUB		—		(2,087	)		(2,087	)
CLP	152,853	USD	157,919	5/30/2024	HUB		—		(5,066	)		(5,066	)
CLP	203,804	USD	211,360	5/30/2024	HUB		—		(7,556	)		(7,556	)
CLP	254,756	USD	263,752	5/30/2024	HUB		—		(8,996	)		(8,996	)
CLP	305,707	USD	316,793	5/30/2024	HUB		—		(11,086	)		(11,086	)
CLP	356,658	USD	369,959	5/30/2024	HUB		—		(13,301	)		(13,301	)
CLP	356,658	USD	369,397	5/30/2024	HUB		—		(12,739	)		(12,739	)
CLP	356,658	USD	369,561	5/30/2024	HUB		—		(12,903	)		(12,903	)
CLP	356,658	USD	370,026	5/30/2024	HUB		—		(13,368	)		(13,368	)
CLP	407,609	USD	421,634	5/30/2024	HUB		—		(14,025	)		(14,025	)
CLP	458,560	USD	473,973	5/30/2024	HUB		—		(15,413	)		(15,413	)
CLP	458,560	USD	476,821	5/30/2024	HUB		—		(18,261	)		(18,261	)
CLP	611,414	USD	638,862	5/30/2024	HUB		—		(27,448	)		(27,448	)
CLP	662,365	USD	684,790	5/30/2024	HUB		—		(22,425	)		(22,425	)
CLP	662,365	USD	674,379	5/30/2024	HUB		—		(12,014	)		(12,014	)
CLP	662,365	USD	686,797	5/30/2024	HUB		—		(24,432	)		(24,432	)
CLP	662,365	USD	687,039	5/30/2024	HUB		—		(24,674	)		(24,674	)
CLP	713,316	USD	739,294	5/30/2024	HUB		—		(25,978	)		(25,978	)
CLP	713,316	USD	740,189	5/30/2024	HUB		—		(26,873	)		(26,873	)
CLP	713,316	USD	738,008	5/30/2024	HUB		—		(24,692	)		(24,692	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
CLP	713,316		USD	739,239		5/30/2024		HUB	$	—	$	(25,923	)	$	(25,923	)
CLP	815,218		USD	842,602		5/30/2024		HUB		—		(27,384	)		(27,384	)
CLP	815,218		USD	844,844		5/30/2024		HUB		—		(29,626	)		(29,626	)
CLP	866,169		USD	896,747		5/30/2024		HUB		—		(30,578	)		(30,578	)
CLP	917,120		USD	949,427		5/30/2024		HUB		—		(32,307	)		(32,307	)
CLP	917,120		USD	951,203		5/30/2024		HUB		—		(34,083	)		(34,083	)
CLP	917,120		USD	957,976		5/30/2024		HUB		—		(40,856	)		(40,856	)
CLP	968,071		USD	1,011,649		5/30/2024		HUB		—		(43,578	)		(43,578	)
CLP	1,019,023		USD	1,038,575		5/30/2024		HUB		—		(19,552	)		(19,552	)
CLP	1,019,023		USD	1,064,963		5/30/2024		HUB		—		(45,940	)		(45,940	)
CLP	1,222,827		USD	1,265,809		5/30/2024		HUB		—		(42,982	)		(42,982	)
CLP	1,273,778		USD	1,294,076		5/30/2024		HUB		—		(20,298	)		(20,298	)
CLP	1,528,534		USD	1,596,866		5/30/2024		HUB		—		(68,332	)		(68,332	)
CLP	1,528,534		USD	1,594,337		5/30/2024		HUB		—		(65,803	)		(65,803	)
COP	2,427,050		USD	2,363,601		5/30/2024		HUB		63,449		—			63,449
COP	4,004,632		USD	3,905,174		5/30/2024		HUB		99,458		—			99,458
COP	6,329,592		USD	6,164,320		5/30/2024		HUB		165,272		—			165,272
USD	22,930,502		CLP	22,503,067		5/30/2024		HUB		427,435		—			427,435
USD	17,619,949		CLP	17,276,243		5/30/2024		HUB		343,706		—			343,706
USD	14,757,859		CLP	14,483,644		5/30/2024		HUB		274,215		—			274,215
USD	6,571,312		CLP	6,499,712		5/30/2024		HUB		71,600		—			71,600
USD	1,878,577		CLP	1,859,716		5/30/2024		HUB		18,861		—			18,861
USD	1,878,596		CLP	1,859,716		5/30/2024		HUB		18,880		—			18,880
USD	1,878,789		CLP	1,859,716		5/30/2024		HUB		19,073		—			19,073
USD	1,878,596		CLP	1,859,716		5/30/2024		HUB		18,880		—			18,880
USD	1,325,570		CLP	1,324,729		5/30/2024		HUB		841		—			841
USD	1,281,933		CLP	1,273,778		5/30/2024		HUB		8,155		—			8,155
USD	1,277,113		CLP	1,273,778		5/30/2024		HUB		3,335		—			3,335
USD	1,127,939		CLP	1,120,925		5/30/2024		HUB		7,014		—			7,014
USD	1,112,361		CLP	1,101,646		5/30/2024		HUB		10,715		—			10,715
USD	1,070,669		CLP	1,060,334		5/30/2024		HUB		10,335		—			10,335
USD	972,991		CLP	968,071		5/30/2024		HUB		4,920		—			4,920
USD	975,269		CLP	968,071		5/30/2024		HUB		7,198		—			7,198
USD	968,212		CLP	968,071		5/30/2024		HUB		141		—			141
USD	923,399		CLP	917,120		5/30/2024		HUB		6,279		—			6,279
USD	825,145		CLP	815,218		5/30/2024		HUB		9,927		—			9,927
USD	769,602		CLP	764,267		5/30/2024		HUB		5,335		—			5,335
USD	773,228		CLP	764,267		5/30/2024		HUB		8,961		—			8,961
USD	773,539		CLP	764,267		5/30/2024		HUB		9,272		—			9,272
USD	773,659		CLP	764,267		5/30/2024		HUB		9,392		—			9,392
USD	722,976		CLP	713,316		5/30/2024		HUB		9,660		—			9,660
USD	722,655		CLP	713,316		5/30/2024		HUB		9,339		—			9,339
USD	720,409		CLP	713,316		5/30/2024		HUB		7,093		—			7,093
USD	721,471		CLP	713,316		5/30/2024		HUB		8,155		—			8,155
USD	667,550		CLP	662,365		5/30/2024		HUB		5,185		—			5,185
USD	670,601		CLP	662,365		5/30/2024		HUB		8,236		—			8,236
USD	615,530		CLP	611,414		5/30/2024		HUB		4,116		—			4,116
USD	615,707		CLP	611,414		5/30/2024		HUB		4,293		—			4,293
USD	614,931		CLP	611,414		5/30/2024		HUB		3,517		—			3,517
USD	629,063		CLP	611,414		5/30/2024		HUB		17,649		—			17,649
USD	618,678		CLP	611,414		5/30/2024		HUB		7,264		—			7,264
USD	617,831		CLP	611,414		5/30/2024		HUB		6,417		—			6,417
USD	564,542		CLP	560,462		5/30/2024		HUB		4,080		—			4,080
USD	563,045		CLP	560,462		5/30/2024		HUB		2,583		—			2,583
USD	564,658		CLP	560,462		5/30/2024		HUB		4,196		—			4,196

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	564,948	CLP	560,462	5/30/2024	HUB	$	4,486	$	—		$	4,486
USD	575,657	CLP	560,462	5/30/2024	HUB		15,195		—			15,195
USD	567,226	CLP	560,462	5/30/2024	HUB		6,764		—			6,764
USD	565,925	CLP	560,462	5/30/2024	HUB		5,463		—			5,463
USD	566,613	CLP	560,462	5/30/2024	HUB		6,151		—			6,151
USD	567,859	CLP	560,462	5/30/2024	HUB		7,397		—			7,397
USD	512,778	CLP	509,511	5/30/2024	HUB		3,267		—			3,267
USD	511,928	CLP	509,511	5/30/2024	HUB		2,417		—			2,417
USD	513,521	CLP	509,511	5/30/2024	HUB		4,010		—			4,010
USD	512,862	CLP	509,511	5/30/2024	HUB		3,351		—			3,351
USD	510,261	CLP	509,511	5/30/2024	HUB		750		—			750
USD	510,793	CLP	509,511	5/30/2024	HUB		1,282		—			1,282
USD	524,147	CLP	509,511	5/30/2024	HUB		14,636		—			14,636
USD	524,153	CLP	509,511	5/30/2024	HUB		14,642		—			14,642
USD	516,078	CLP	509,511	5/30/2024	HUB		6,567		—			6,567
USD	516,017	CLP	509,511	5/30/2024	HUB		6,506		—			6,506
USD	516,337	CLP	509,511	5/30/2024	HUB		6,826		—			6,826
USD	514,493	CLP	509,511	5/30/2024	HUB		4,982		—			4,982
USD	462,197	CLP	458,560	5/30/2024	HUB		3,637		—			3,637
USD	461,903	CLP	458,560	5/30/2024	HUB		3,343		—			3,343
USD	462,344	CLP	458,560	5/30/2024	HUB		3,784		—			3,784
USD	463,330	CLP	458,560	5/30/2024	HUB		4,770		—			4,770
USD	464,008	CLP	458,560	5/30/2024	HUB		5,448		—			5,448
USD	464,823	CLP	458,560	5/30/2024	HUB		6,263		—			6,263
USD	463,431	CLP	458,560	5/30/2024	HUB		4,871		—			4,871
USD	410,328	CLP	407,609	5/30/2024	HUB		2,719		—			2,719
USD	410,399	CLP	407,609	5/30/2024	HUB		2,790		—			2,790
USD	410,349	CLP	407,609	5/30/2024	HUB		2,740		—			2,740
USD	410,429	CLP	407,609	5/30/2024	HUB		2,820		—			2,820
USD	409,517	CLP	407,609	5/30/2024	HUB		1,908		—			1,908
USD	410,467	CLP	407,609	5/30/2024	HUB		2,858		—			2,858
USD	410,294	CLP	407,609	5/30/2024	HUB		2,685		—			2,685
USD	409,878	CLP	407,609	5/30/2024	HUB		2,269		—			2,269
USD	419,591	CLP	407,609	5/30/2024	HUB		11,982		—			11,982
USD	413,040	CLP	407,609	5/30/2024	HUB		5,431		—			5,431
USD	413,129	CLP	407,609	5/30/2024	HUB		5,520		—			5,520
USD	413,138	CLP	407,609	5/30/2024	HUB		5,529		—			5,529
USD	413,069	CLP	407,609	5/30/2024	HUB		5,460		—			5,460
USD	412,639	CLP	407,609	5/30/2024	HUB		5,030		—			5,030
USD	358,890	CLP	356,658	5/30/2024	HUB		2,232		—			2,232
USD	359,078	CLP	356,658	5/30/2024	HUB		2,420		—			2,420
USD	359,734	CLP	356,658	5/30/2024	HUB		3,076		—			3,076
USD	359,601	CLP	356,658	5/30/2024	HUB		2,943		—			2,943
USD	358,835	CLP	356,658	5/30/2024	HUB		2,177		—			2,177
USD	358,879	CLP	356,658	5/30/2024	HUB		2,221		—			2,221
USD	359,008	CLP	356,658	5/30/2024	HUB		2,350		—			2,350
USD	366,373	CLP	356,658	5/30/2024	HUB		9,715		—			9,715
USD	367,150	CLP	356,658	5/30/2024	HUB		10,492		—			10,492
USD	356,107	CLP	356,658	5/30/2024	HUB		—		(551	)		(551	)
USD	355,171	CLP	356,658	5/30/2024	HUB		—		(1,487	)		(1,487	)
USD	361,015	CLP	356,658	5/30/2024	HUB		4,357		—			4,357
USD	307,847	CLP	305,707	5/30/2024	HUB		2,140		—			2,140
USD	307,569	CLP	305,707	5/30/2024	HUB		1,862		—			1,862
USD	304,853	CLP	305,707	5/30/2024	HUB		—		(854	)		(854	)
USD	308,716	CLP	305,707	5/30/2024	HUB		3,009		—			3,009

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	309,806	CLP	305,707	5/30/2024	HUB	$	4,099	$	—		$	4,099
USD	309,339	CLP	305,707	5/30/2024	HUB		3,632		—			3,632
USD	304,759	CLP	305,707	5/30/2024	HUB		—		(948	)		(948	)
USD	304,682	CLP	305,707	5/30/2024	HUB		—		(1,025	)		(1,025	)
USD	309,205	CLP	305,707	5/30/2024	HUB		3,498		—			3,498
USD	257,004	CLP	254,756	5/30/2024	HUB		2,248		—			2,248
USD	256,001	CLP	254,756	5/30/2024	HUB		1,245		—			1,245
USD	255,941	CLP	254,756	5/30/2024	HUB		1,185		—			1,185
USD	256,540	CLP	254,756	5/30/2024	HUB		1,784		—			1,784
USD	256,379	CLP	254,756	5/30/2024	HUB		1,623		—			1,623
USD	256,321	CLP	254,756	5/30/2024	HUB		1,565		—			1,565
USD	253,746	CLP	254,756	5/30/2024	HUB		—		(1,010	)		(1,010	)
USD	252,899	CLP	254,756	5/30/2024	HUB		—		(1,857	)		(1,857	)
USD	253,085	CLP	254,756	5/30/2024	HUB		—		(1,671	)		(1,671	)
USD	255,313	CLP	254,756	5/30/2024	HUB		557		—			557
USD	254,915	CLP	254,756	5/30/2024	HUB		159		—			159
USD	254,702	CLP	254,756	5/30/2024	HUB		—		(54	)		(54	)
USD	255,040	CLP	254,756	5/30/2024	HUB		284		—			284
USD	255,113	CLP	254,756	5/30/2024	HUB		357		—			357
USD	254,832	CLP	254,756	5/30/2024	HUB		76		—			76
USD	255,121	CLP	254,756	5/30/2024	HUB		365		—			365
USD	254,541	CLP	254,756	5/30/2024	HUB		—		(215	)		(215	)
USD	254,081	CLP	254,756	5/30/2024	HUB		—		(675	)		(675	)
USD	254,332	CLP	254,756	5/30/2024	HUB		—		(424	)		(424	)
USD	254,377	CLP	254,756	5/30/2024	HUB		—		(379	)		(379	)
USD	254,130	CLP	254,756	5/30/2024	HUB		—		(626	)		(626	)
USD	254,440	CLP	254,756	5/30/2024	HUB		—		(316	)		(316	)
USD	254,461	CLP	254,756	5/30/2024	HUB		—		(295	)		(295	)
USD	254,575	CLP	254,756	5/30/2024	HUB		—		(181	)		(181	)
USD	253,760	CLP	254,756	5/30/2024	HUB		—		(996	)		(996	)
USD	253,767	CLP	254,756	5/30/2024	HUB		—		(989	)		(989	)
USD	257,788	CLP	254,756	5/30/2024	HUB		3,032		—			3,032
USD	254,609	CLP	254,756	5/30/2024	HUB		—		(147	)		(147	)
USD	205,466	CLP	203,805	5/30/2024	HUB		1,661		—			1,661
USD	204,786	CLP	203,805	5/30/2024	HUB		981		—			981
USD	205,460	CLP	203,805	5/30/2024	HUB		1,655		—			1,655
USD	205,007	CLP	203,805	5/30/2024	HUB		1,202		—			1,202
USD	205,007	CLP	203,805	5/30/2024	HUB		1,202		—			1,202
USD	203,060	CLP	203,805	5/30/2024	HUB		—		(745	)		(745	)
USD	203,248	CLP	203,805	5/30/2024	HUB		—		(557	)		(557	)
USD	203,234	CLP	203,805	5/30/2024	HUB		—		(571	)		(571	)
USD	202,931	CLP	203,805	5/30/2024	HUB		—		(874	)		(874	)
USD	202,797	CLP	203,805	5/30/2024	HUB		—		(1,008	)		(1,008	)
USD	202,260	CLP	203,805	5/30/2024	HUB		—		(1,545	)		(1,545	)
USD	202,524	CLP	203,805	5/30/2024	HUB		—		(1,281	)		(1,281	)
USD	202,840	CLP	203,805	5/30/2024	HUB		—		(965	)		(965	)
USD	202,351	CLP	203,805	5/30/2024	HUB		—		(1,454	)		(1,454	)
USD	203,037	CLP	203,805	5/30/2024	HUB		—		(768	)		(768	)
USD	203,168	CLP	203,805	5/30/2024	HUB		—		(637	)		(637	)
USD	203,486	CLP	203,805	5/30/2024	HUB		—		(319	)		(319	)
USD	202,715	CLP	203,805	5/30/2024	HUB		—		(1,090	)		(1,090	)
USD	203,797	CLP	203,805	5/30/2024	HUB		—		(8	)		(8	)
USD	203,540	CLP	203,805	5/30/2024	HUB		—		(265	)		(265	)
USD	203,250	CLP	203,805	5/30/2024	HUB		—		(555	)		(555	)
USD	203,509	CLP	203,805	5/30/2024	HUB		—		(296	)		(296	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	203,899	CLP	203,805	5/30/2024	HUB	$	94	$	—		$	94
USD	204,174	CLP	203,805	5/30/2024	HUB		369		—			369
USD	204,151	CLP	203,805	5/30/2024	HUB		346		—			346
USD	204,788	CLP	203,805	5/30/2024	HUB		983		—			983
USD	204,165	CLP	203,805	5/30/2024	HUB		360		—			360
USD	204,024	CLP	203,805	5/30/2024	HUB		219		—			219
USD	204,288	CLP	203,805	5/30/2024	HUB		483		—			483
USD	204,299	CLP	203,805	5/30/2024	HUB		494		—			494
USD	204,028	CLP	203,805	5/30/2024	HUB		223		—			223
USD	204,009	CLP	203,805	5/30/2024	HUB		204		—			204
USD	208,810	CLP	203,805	5/30/2024	HUB		5,005		—			5,005
USD	208,686	CLP	203,805	5/30/2024	HUB		4,881		—			4,881
USD	208,862	CLP	203,805	5/30/2024	HUB		5,057		—			5,057
USD	208,902	CLP	203,805	5/30/2024	HUB		5,097		—			5,097
USD	203,639	CLP	203,805	5/30/2024	HUB		—		(166	)		(166	)
USD	204,201	CLP	203,805	5/30/2024	HUB		396		—			396
USD	204,045	CLP	203,805	5/30/2024	HUB		240		—			240
USD	203,949	CLP	203,805	5/30/2024	HUB		144		—			144
USD	204,030	CLP	203,805	5/30/2024	HUB		225		—			225
USD	203,943	CLP	203,805	5/30/2024	HUB		138		—			138
USD	203,482	CLP	203,805	5/30/2024	HUB		—		(323	)		(323	)
USD	203,492	CLP	203,805	5/30/2024	HUB		—		(313	)		(313	)
USD	202,842	CLP	203,805	5/30/2024	HUB		—		(963	)		(963	)
USD	202,883	CLP	203,805	5/30/2024	HUB		—		(922	)		(922	)
USD	203,010	CLP	203,805	5/30/2024	HUB		—		(795	)		(795	)
USD	208,788	CLP	203,805	5/30/2024	HUB		4,983		—			4,983
USD	208,797	CLP	203,805	5/30/2024	HUB		4,992		—			4,992
USD	208,928	CLP	203,805	5/30/2024	HUB		5,123		—			5,123
USD	208,952	CLP	203,805	5/30/2024	HUB		5,147		—			5,147
USD	203,005	CLP	203,805	5/30/2024	HUB		—		(800	)		(800	)
USD	203,677	CLP	203,805	5/30/2024	HUB		—		(128	)		(128	)
USD	203,226	CLP	203,805	5/30/2024	HUB		—		(579	)		(579	)
USD	203,079	CLP	203,805	5/30/2024	HUB		—		(726	)		(726	)
USD	202,923	CLP	203,805	5/30/2024	HUB		—		(882	)		(882	)
USD	202,787	CLP	203,805	5/30/2024	HUB		—		(1,018	)		(1,018	)
USD	152,392	CLP	152,853	5/30/2024	HUB		—		(461	)		(461	)
USD	151,754	CLP	152,853	5/30/2024	HUB		—		(1,099	)		(1,099	)
USD	152,113	CLP	152,853	5/30/2024	HUB		—		(740	)		(740	)
USD	151,988	CLP	152,853	5/30/2024	HUB		—		(865	)		(865	)
USD	151,723	CLP	152,853	5/30/2024	HUB		—		(1,130	)		(1,130	)
USD	151,731	CLP	152,853	5/30/2024	HUB		—		(1,122	)		(1,122	)
USD	152,217	CLP	152,853	5/30/2024	HUB		—		(636	)		(636	)
USD	151,888	CLP	152,853	5/30/2024	HUB		—		(965	)		(965	)
USD	151,794	CLP	152,853	5/30/2024	HUB		—		(1,059	)		(1,059	)
USD	151,860	CLP	152,853	5/30/2024	HUB		—		(993	)		(993	)
USD	152,017	CLP	152,853	5/30/2024	HUB		—		(836	)		(836	)
USD	152,021	CLP	152,853	5/30/2024	HUB		—		(832	)		(832	)
USD	152,075	CLP	152,853	5/30/2024	HUB		—		(778	)		(778	)
USD	152,336	CLP	152,853	5/30/2024	HUB		—		(517	)		(517	)
USD	152,323	CLP	152,853	5/30/2024	HUB		—		(530	)		(530	)
USD	152,299	CLP	152,853	5/30/2024	HUB		—		(554	)		(554	)
USD	152,462	CLP	152,853	5/30/2024	HUB		—		(391	)		(391	)
USD	152,549	CLP	152,853	5/30/2024	HUB		—		(304	)		(304	)
USD	152,577	CLP	152,853	5/30/2024	HUB		—		(276	)		(276	)
USD	152,662	CLP	152,853	5/30/2024	HUB		—		(191	)		(191	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	152,760		CLP	152,853		5/30/2024		HUB	$	—	$	(93	)	$	(93	)
USD	152,583		CLP	152,853		5/30/2024		HUB		—		(270	)		(270	)
USD	152,386		CLP	152,853		5/30/2024		HUB		—		(467	)		(467	)
USD	152,216		CLP	152,853		5/30/2024		HUB		—		(637	)		(637	)
USD	152,313		CLP	152,853		5/30/2024		HUB		—		(540	)		(540	)
USD	152,592		CLP	152,853		5/30/2024		HUB		—		(261	)		(261	)
USD	152,730		CLP	152,853		5/30/2024		HUB		—		(123	)		(123	)
USD	152,327		CLP	152,853		5/30/2024		HUB		—		(526	)		(526	)
USD	152,542		CLP	152,853		5/30/2024		HUB		—		(311	)		(311	)
USD	152,541		CLP	152,853		5/30/2024		HUB		—		(312	)		(312	)
USD	152,577		CLP	152,853		5/30/2024		HUB		—		(276	)		(276	)
USD	152,224		CLP	152,853		5/30/2024		HUB		—		(629	)		(629	)
USD	152,296		CLP	152,853		5/30/2024		HUB		—		(557	)		(557	)
USD	152,292		CLP	152,853		5/30/2024		HUB		—		(561	)		(561	)
USD	152,026		CLP	152,853		5/30/2024		HUB		—		(827	)		(827	)
USD	152,411		CLP	152,853		5/30/2024		HUB		—		(442	)		(442	)
USD	152,267		CLP	152,853		5/30/2024		HUB		—		(586	)		(586	)
USD	152,137		CLP	152,853		5/30/2024		HUB		—		(716	)		(716	)
USD	152,696		CLP	152,853		5/30/2024		HUB		—		(157	)		(157	)
USD	152,532		CLP	152,853		5/30/2024		HUB		—		(321	)		(321	)
USD	152,346		CLP	152,853		5/30/2024		HUB		—		(507	)		(507	)
USD	152,906		CLP	152,853		5/30/2024		HUB		53		—			53
USD	152,850		CLP	152,853		5/30/2024		HUB		—		(3	)		(3	)
USD	152,386		CLP	152,853		5/30/2024		HUB		—		(467	)		(467	)
USD	152,082		CLP	152,853		5/30/2024		HUB		—		(771	)		(771	)
USD	152,105		CLP	152,853		5/30/2024		HUB		—		(748	)		(748	)
USD	152,953		CLP	152,853		5/30/2024		HUB		100		—			100
USD	152,955		CLP	152,853		5/30/2024		HUB		102		—			102
USD	153,062		CLP	152,853		5/30/2024		HUB		209		—			209
USD	153,064		CLP	152,853		5/30/2024		HUB		211		—			211
USD	153,504		CLP	152,853		5/30/2024		HUB		651		—			651
USD	153,247		CLP	152,853		5/30/2024		HUB		394		—			394
USD	153,325		CLP	152,853		5/30/2024		HUB		472		—			472
USD	153,529		CLP	152,853		5/30/2024		HUB		676		—			676
USD	153,542		CLP	152,853		5/30/2024		HUB		689		—			689
USD	153,167		CLP	152,853		5/30/2024		HUB		314		—			314
USD	153,236		CLP	152,853		5/30/2024		HUB		383		—			383
USD	153,059		CLP	152,853		5/30/2024		HUB		206		—			206
USD	153,295		CLP	152,853		5/30/2024		HUB		442		—			442
USD	153,039		CLP	152,853		5/30/2024		HUB		186		—			186
USD	153,564		CLP	152,853		5/30/2024		HUB		711		—			711
USD	153,150		CLP	152,853		5/30/2024		HUB		297		—			297
USD	152,942		CLP	152,853		5/30/2024		HUB		89		—			89
USD	153,073		CLP	152,853		5/30/2024		HUB		220		—			220
USD	155,782		CLP	152,853		5/30/2024		HUB		2,929		—			2,929
USD	156,680		CLP	152,853		5/30/2024		HUB		3,827		—			3,827
USD	155,455		CLP	152,853		5/30/2024		HUB		2,602		—			2,602
USD	155,593		CLP	152,853		5/30/2024		HUB		2,740		—			2,740
USD	156,289		CLP	152,853		5/30/2024		HUB		3,436		—			3,436
USD	155,760		CLP	152,853		5/30/2024		HUB		2,907		—			2,907
USD	156,638		CLP	152,853		5/30/2024		HUB		3,785		—			3,785
USD	156,705		CLP	152,853		5/30/2024		HUB		3,852		—			3,852
USD	156,604		CLP	152,853		5/30/2024		HUB		3,751		—			3,751
USD	152,612		CLP	152,853		5/30/2024		HUB		—		(241	)		(241	)
USD	153,012		CLP	152,853		5/30/2024		HUB		159		—			159

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	152,241		CLP	152,853		5/30/2024		HUB	$	—	$	(612	)	$	(612	)
USD	153,027		CLP	152,853		5/30/2024		HUB		174		—			174
USD	152,179		CLP	152,853		5/30/2024		HUB		—		(674	)		(674	)
USD	152,587		CLP	152,853		5/30/2024		HUB		—		(266	)		(266	)
USD	152,494		CLP	152,853		5/30/2024		HUB		—		(359	)		(359	)
USD	152,021		CLP	152,853		5/30/2024		HUB		—		(832	)		(832	)
USD	152,055		CLP	152,853		5/30/2024		HUB		—		(798	)		(798	)
USD	152,058		CLP	152,853		5/30/2024		HUB		—		(795	)		(795	)
USD	151,960		CLP	152,853		5/30/2024		HUB		—		(893	)		(893	)
USD	152,194		CLP	152,853		5/30/2024		HUB		—		(659	)		(659	)
USD	152,217		CLP	152,853		5/30/2024		HUB		—		(636	)		(636	)
USD	153,630		CLP	152,853		5/30/2024		HUB		777		—			777
USD	153,748		CLP	152,853		5/30/2024		HUB		895		—			895
USD	153,740		CLP	152,853		5/30/2024		HUB		887		—			887
USD	156,609		CLP	152,853		5/30/2024		HUB		3,756		—			3,756
USD	156,698		CLP	152,853		5/30/2024		HUB		3,845		—			3,845
USD	153,617		CLP	152,853		5/30/2024		HUB		764		—			764
USD	153,712		CLP	152,853		5/30/2024		HUB		859		—			859
USD	153,721		CLP	152,853		5/30/2024		HUB		868		—			868
USD	152,143		CLP	152,853		5/30/2024		HUB		—		(710	)		(710	)
USD	152,633		CLP	152,853		5/30/2024		HUB		—		(220	)		(220	)
USD	152,426		CLP	152,853		5/30/2024		HUB		—		(427	)		(427	)
USD	152,622		CLP	152,853		5/30/2024		HUB		—		(231	)		(231	)
USD	152,505		CLP	152,853		5/30/2024		HUB		—		(348	)		(348	)
USD	152,381		CLP	152,853		5/30/2024		HUB		—		(472	)		(472	)
USD	152,285		CLP	152,853		5/30/2024		HUB		—		(568	)		(568	)
USD	152,436		CLP	152,853		5/30/2024		HUB		—		(417	)		(417	)
USD	152,106		CLP	152,853		5/30/2024		HUB		—		(747	)		(747	)
USD	153,726		CLP	152,853		5/30/2024		HUB		873		—			873
USD	101,621		CLP	101,902		5/30/2024		HUB		—		(281	)		(281	)
USD	101,542		CLP	101,902		5/30/2024		HUB		—		(360	)		(360	)
USD	101,480		CLP	101,902		5/30/2024		HUB		—		(422	)		(422	)
USD	101,150		CLP	101,902		5/30/2024		HUB		—		(752	)		(752	)
USD	101,394		CLP	101,902		5/30/2024		HUB		—		(508	)		(508	)
USD	101,420		CLP	101,902		5/30/2024		HUB		—		(482	)		(482	)
USD	101,492		CLP	101,902		5/30/2024		HUB		—		(410	)		(410	)
USD	101,435		CLP	101,902		5/30/2024		HUB		—		(467	)		(467	)
USD	101,412		CLP	101,902		5/30/2024		HUB		—		(490	)		(490	)
USD	101,234		CLP	101,902		5/30/2024		HUB		—		(668	)		(668	)
USD	101,186		CLP	101,902		5/30/2024		HUB		—		(716	)		(716	)
USD	101,266		CLP	101,902		5/30/2024		HUB		—		(636	)		(636	)
USD	101,323		CLP	101,902		5/30/2024		HUB		—		(579	)		(579	)
USD	101,448		CLP	101,902		5/30/2024		HUB		—		(454	)		(454	)
USD	101,380		CLP	101,902		5/30/2024		HUB		—		(522	)		(522	)
USD	101,403		CLP	101,902		5/30/2024		HUB		—		(499	)		(499	)
USD	101,506		CLP	101,902		5/30/2024		HUB		—		(396	)		(396	)
USD	101,573		CLP	101,902		5/30/2024		HUB		—		(329	)		(329	)
USD	101,551		CLP	101,902		5/30/2024		HUB		—		(351	)		(351	)
USD	101,753		CLP	101,902		5/30/2024		HUB		—		(149	)		(149	)
USD	101,386		CLP	101,902		5/30/2024		HUB		—		(516	)		(516	)
USD	101,783		CLP	101,902		5/30/2024		HUB		—		(119	)		(119	)
USD	101,360		CLP	101,902		5/30/2024		HUB		—		(542	)		(542	)
USD	101,640		CLP	101,902		5/30/2024		HUB		—		(262	)		(262	)
USD	101,560		CLP	101,902		5/30/2024		HUB		—		(342	)		(342	)
USD	101,635		CLP	101,902		5/30/2024		HUB		—		(267	)		(267	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	101,931		CLP	101,902		5/30/2024		HUB	$	29	$	—		$	29
USD	101,774		CLP	101,902		5/30/2024		HUB		—		(128	)		(128	)
USD	101,636		CLP	101,902		5/30/2024		HUB		—		(266	)		(266	)
USD	101,497		CLP	101,902		5/30/2024		HUB		—		(405	)		(405	)
USD	101,483		CLP	101,902		5/30/2024		HUB		—		(419	)		(419	)
USD	101,625		CLP	101,902		5/30/2024		HUB		—		(277	)		(277	)
USD	101,730		CLP	101,902		5/30/2024		HUB		—		(172	)		(172	)
USD	101,620		CLP	101,902		5/30/2024		HUB		—		(282	)		(282	)
USD	101,463		CLP	101,902		5/30/2024		HUB		—		(439	)		(439	)
USD	101,411		CLP	101,902		5/30/2024		HUB		—		(491	)		(491	)
USD	101,383		CLP	101,902		5/30/2024		HUB		—		(519	)		(519	)
USD	101,387		CLP	101,902		5/30/2024		HUB		—		(515	)		(515	)
USD	101,454		CLP	101,902		5/30/2024		HUB		—		(448	)		(448	)
USD	101,322		CLP	101,902		5/30/2024		HUB		—		(580	)		(580	)
USD	101,900		CLP	101,902		5/30/2024		HUB		—		(2	)		(2	)
USD	101,717		CLP	101,902		5/30/2024		HUB		—		(185	)		(185	)
USD	101,777		CLP	101,902		5/30/2024		HUB		—		(125	)		(125	)
USD	101,793		CLP	101,902		5/30/2024		HUB		—		(109	)		(109	)
USD	101,435		CLP	101,902		5/30/2024		HUB		—		(467	)		(467	)
USD	101,459		CLP	101,902		5/30/2024		HUB		—		(443	)		(443	)
USD	101,754		CLP	101,902		5/30/2024		HUB		—		(148	)		(148	)
USD	101,608		CLP	101,902		5/30/2024		HUB		—		(294	)		(294	)
USD	101,503		CLP	101,902		5/30/2024		HUB		—		(399	)		(399	)
USD	101,380		CLP	101,902		5/30/2024		HUB		—		(522	)		(522	)
USD	101,436		CLP	101,902		5/30/2024		HUB		—		(466	)		(466	)
USD	101,790		CLP	101,902		5/30/2024		HUB		—		(112	)		(112	)
USD	101,790		CLP	101,902		5/30/2024		HUB		—		(112	)		(112	)
USD	102,017		CLP	101,902		5/30/2024		HUB		115		—			115
USD	102,009		CLP	101,902		5/30/2024		HUB		107		—			107
USD	101,728		CLP	101,902		5/30/2024		HUB		—		(174	)		(174	)
USD	101,836		CLP	101,902		5/30/2024		HUB		—		(66	)		(66	)
USD	101,568		CLP	101,902		5/30/2024		HUB		—		(334	)		(334	)
USD	101,393		CLP	101,902		5/30/2024		HUB		—		(509	)		(509	)
USD	101,493		CLP	101,902		5/30/2024		HUB		—		(409	)		(409	)
USD	101,430		CLP	101,902		5/30/2024		HUB		—		(472	)		(472	)
USD	101,632		CLP	101,902		5/30/2024		HUB		—		(270	)		(270	)
USD	101,984		CLP	101,902		5/30/2024		HUB		82		—			82
USD	102,034		CLP	101,902		5/30/2024		HUB		132		—			132
USD	102,042		CLP	101,902		5/30/2024		HUB		140		—			140
USD	101,990		CLP	101,902		5/30/2024		HUB		88		—			88
USD	101,956		CLP	101,902		5/30/2024		HUB		54		—			54
USD	101,975		CLP	101,902		5/30/2024		HUB		73		—			73
USD	101,985		CLP	101,902		5/30/2024		HUB		83		—			83
USD	101,997		CLP	101,902		5/30/2024		HUB		95		—			95
USD	102,019		CLP	101,902		5/30/2024		HUB		117		—			117
USD	102,223		CLP	101,902		5/30/2024		HUB		321		—			321
USD	102,388		CLP	101,902		5/30/2024		HUB		486		—			486
USD	102,405		CLP	101,902		5/30/2024		HUB		503		—			503
USD	102,027		CLP	101,902		5/30/2024		HUB		125		—			125
USD	102,071		CLP	101,902		5/30/2024		HUB		169		—			169
USD	102,112		CLP	101,902		5/30/2024		HUB		210		—			210
USD	102,055		CLP	101,902		5/30/2024		HUB		153		—			153
USD	102,080		CLP	101,902		5/30/2024		HUB		178		—			178
USD	102,387		CLP	101,902		5/30/2024		HUB		485		—			485
USD	101,860		CLP	101,902		5/30/2024		HUB		—		(42	)		(42	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	101,870		CLP	101,902		5/30/2024		HUB	$	—	$	(32	)	$	(32	)
USD	101,947		CLP	101,902		5/30/2024		HUB		45		—			45
USD	102,094		CLP	101,902		5/30/2024		HUB		192		—			192
USD	101,789		CLP	101,902		5/30/2024		HUB		—		(113	)		(113	)
USD	103,791		CLP	101,902		5/30/2024		HUB		1,889		—			1,889
USD	103,686		CLP	101,902		5/30/2024		HUB		1,784		—			1,784
USD	103,759		CLP	101,902		5/30/2024		HUB		1,857		—			1,857
USD	104,174		CLP	101,902		5/30/2024		HUB		2,272		—			2,272
USD	104,085		CLP	101,902		5/30/2024		HUB		2,183		—			2,183
USD	103,942		CLP	101,902		5/30/2024		HUB		2,040		—			2,040
USD	103,963		CLP	101,902		5/30/2024		HUB		2,061		—			2,061
USD	103,772		CLP	101,902		5/30/2024		HUB		1,870		—			1,870
USD	103,687		CLP	101,902		5/30/2024		HUB		1,785		—			1,785
USD	103,882		CLP	101,902		5/30/2024		HUB		1,980		—			1,980
USD	104,211		CLP	101,902		5/30/2024		HUB		2,309		—			2,309
USD	104,221		CLP	101,902		5/30/2024		HUB		2,319		—			2,319
USD	103,684		CLP	101,902		5/30/2024		HUB		1,782		—			1,782
USD	104,465		CLP	101,902		5/30/2024		HUB		2,563		—			2,563
USD	104,421		CLP	101,902		5/30/2024		HUB		2,519		—			2,519
USD	104,433		CLP	101,902		5/30/2024		HUB		2,531		—			2,531
USD	103,790		CLP	101,902		5/30/2024		HUB		1,888		—			1,888
USD	104,109		CLP	101,902		5/30/2024		HUB		2,207		—			2,207
USD	101,966		CLP	101,902		5/30/2024		HUB		64		—			64
USD	101,806		CLP	101,902		5/30/2024		HUB		—		(96	)		(96	)
USD	101,734		CLP	101,902		5/30/2024		HUB		—		(168	)		(168	)
USD	101,487		CLP	101,902		5/30/2024		HUB		—		(415	)		(415	)
USD	101,452		CLP	101,902		5/30/2024		HUB		—		(450	)		(450	)
USD	101,404		CLP	101,902		5/30/2024		HUB		—		(498	)		(498	)
USD	101,371		CLP	101,902		5/30/2024		HUB		—		(531	)		(531	)
USD	101,448		CLP	101,902		5/30/2024		HUB		—		(454	)		(454	)
USD	101,456		CLP	101,902		5/30/2024		HUB		—		(446	)		(446	)
USD	101,771		CLP	101,902		5/30/2024		HUB		—		(131	)		(131	)
USD	101,815		CLP	101,902		5/30/2024		HUB		—		(87	)		(87	)
USD	101,765		CLP	101,902		5/30/2024		HUB		—		(137	)		(137	)
USD	101,631		CLP	101,902		5/30/2024		HUB		—		(271	)		(271	)
USD	101,635		CLP	101,902		5/30/2024		HUB		—		(267	)		(267	)
USD	101,609		CLP	101,902		5/30/2024		HUB		—		(293	)		(293	)
USD	101,426		CLP	101,902		5/30/2024		HUB		—		(476	)		(476	)
USD	101,606		CLP	101,902		5/30/2024		HUB		—		(296	)		(296	)
USD	101,512		CLP	101,902		5/30/2024		HUB		—		(390	)		(390	)
USD	101,344		CLP	101,902		5/30/2024		HUB		—		(558	)		(558	)
USD	101,556		CLP	101,902		5/30/2024		HUB		—		(346	)		(346	)
USD	101,211		CLP	101,902		5/30/2024		HUB		—		(691	)		(691	)
USD	101,407		CLP	101,902		5/30/2024		HUB		—		(495	)		(495	)
USD	101,485		CLP	101,902		5/30/2024		HUB		—		(417	)		(417	)
USD	101,531		CLP	101,902		5/30/2024		HUB		—		(371	)		(371	)
USD	104,403		CLP	101,902		5/30/2024		HUB		2,501		—			2,501
USD	102,474		CLP	101,902		5/30/2024		HUB		572		—			572
USD	104,377		CLP	101,902		5/30/2024		HUB		2,475		—			2,475
USD	102,442		CLP	101,902		5/30/2024		HUB		540		—			540
USD	102,560		CLP	101,902		5/30/2024		HUB		658		—			658
USD	102,425		CLP	101,902		5/30/2024		HUB		523		—			523
USD	102,440		CLP	101,902		5/30/2024		HUB		538		—			538
USD	102,458		CLP	101,902		5/30/2024		HUB		556		—			556
USD	102,398		CLP	101,902		5/30/2024		HUB		496		—			496

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*			Settlement Date		Counterparty		Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	102,512		CLP	101,902		5/30/2024		HUB	$	610	$	—		$	610
USD	102,579		CLP	101,902		5/30/2024		HUB		677		—			677
USD	102,525		CLP	101,902		5/30/2024		HUB		623		—			623
USD	101,653		CLP	101,902		5/30/2024		HUB		—		(249	)		(249	)
USD	101,808		CLP	101,902		5/30/2024		HUB		—		(94	)		(94	)
USD	101,460		CLP	101,902		5/30/2024		HUB		—		(442	)		(442	)
USD	101,463		CLP	101,902		5/30/2024		HUB		—		(439	)		(439	)
USD	101,508		CLP	101,902		5/30/2024		HUB		—		(394	)		(394	)
USD	101,535		CLP	101,902		5/30/2024		HUB		—		(367	)		(367	)
USD	102,598		CLP	101,902		5/30/2024		HUB		696		—			696
USD	50,790		CLP	50,951		5/30/2024		HUB		—		(161	)		(161	)
USD	50,599		CLP	50,951		5/30/2024		HUB		—		(352	)		(352	)
USD	50,687		CLP	50,951		5/30/2024		HUB		—		(264	)		(264	)
USD	50,571		CLP	50,951		5/30/2024		HUB		—		(380	)		(380	)
USD	50,762		CLP	50,951		5/30/2024		HUB		—		(189	)		(189	)
USD	50,726		CLP	50,951		5/30/2024		HUB		—		(225	)		(225	)
USD	50,697		CLP	50,951		5/30/2024		HUB		—		(254	)		(254	)
USD	50,725		CLP	50,951		5/30/2024		HUB		—		(226	)		(226	)
USD	50,757		CLP	50,951		5/30/2024		HUB		—		(194	)		(194	)
USD	50,743		CLP	50,951		5/30/2024		HUB		—		(208	)		(208	)
USD	50,668		CLP	50,951		5/30/2024		HUB		—		(283	)		(283	)
USD	50,727		CLP	50,951		5/30/2024		HUB		—		(224	)		(224	)
USD	50,903		CLP	50,951		5/30/2024		HUB		—		(48	)		(48	)
USD	50,877		CLP	50,951		5/30/2024		HUB		—		(74	)		(74	)
USD	50,745		CLP	50,951		5/30/2024		HUB		—		(206	)		(206	)
USD	50,749		CLP	50,951		5/30/2024		HUB		—		(202	)		(202	)
USD	50,732		CLP	50,951		5/30/2024		HUB		—		(219	)		(219	)
USD	50,782		CLP	50,951		5/30/2024		HUB		—		(169	)		(169	)
USD	50,696		CLP	50,951		5/30/2024		HUB		—		(255	)		(255	)
USD	50,886		CLP	50,951		5/30/2024		HUB		—		(65	)		(65	)
USD	50,806		CLP	50,951		5/30/2024		HUB		—		(145	)		(145	)
USD	50,724		CLP	50,951		5/30/2024		HUB		—		(227	)		(227	)
USD	50,720		CLP	50,951		5/30/2024		HUB		—		(231	)		(231	)
USD	50,722		CLP	50,951		5/30/2024		HUB		—		(229	)		(229	)
USD	50,824		CLP	50,951		5/30/2024		HUB		—		(127	)		(127	)
USD	50,710		CLP	50,951		5/30/2024		HUB		—		(241	)		(241	)
USD	50,999		CLP	50,951		5/30/2024		HUB		48		—			48
USD	50,998		CLP	50,951		5/30/2024		HUB		47		—			47
USD	50,999		CLP	50,951		5/30/2024		HUB		48		—			48
USD	51,102		CLP	50,951		5/30/2024		HUB		151		—			151
USD	51,150		CLP	50,951		5/30/2024		HUB		199		—			199
USD	51,121		CLP	50,951		5/30/2024		HUB		170		—			170
USD	51,180		CLP	50,951		5/30/2024		HUB		229		—			229
USD	51,191		CLP	50,951		5/30/2024		HUB		240		—			240
USD	51,061		CLP	50,951		5/30/2024		HUB		110		—			110
USD	51,039		CLP	50,951		5/30/2024		HUB		88		—			88
USD	51,046		CLP	50,951		5/30/2024		HUB		95		—			95
USD	51,085		CLP	50,951		5/30/2024		HUB		134		—			134
USD	51,112		CLP	50,951		5/30/2024		HUB		161		—			161
USD	51,103		CLP	50,951		5/30/2024		HUB		152		—			152
USD	51,084		CLP	50,951		5/30/2024		HUB		133		—			133
USD	51,015		CLP	50,951		5/30/2024		HUB		64		—			64
USD	51,874		CLP	50,951		5/30/2024		HUB		923		—			923
USD	51,971		CLP	50,951		5/30/2024		HUB		1,020		—			1,020
USD	52,034		CLP	50,951		5/30/2024		HUB		1,083		—			1,083

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	51,863	CLP	50,951	5/30/2024	HUB	$	912	$	—		$	912
USD	52,234	CLP	50,951	5/30/2024	HUB		1,283		—			1,283
USD	52,228	CLP	50,951	5/30/2024	HUB		1,277		—			1,277
USD	52,176	CLP	50,951	5/30/2024	HUB		1,225		—			1,225
USD	51,824	CLP	50,951	5/30/2024	HUB		873		—			873
USD	51,836	CLP	50,951	5/30/2024	HUB		885		—			885
USD	51,995	CLP	50,951	5/30/2024	HUB		1,044		—			1,044
USD	52,019	CLP	50,951	5/30/2024	HUB		1,068		—			1,068
USD	51,868	CLP	50,951	5/30/2024	HUB		917		—			917
USD	51,932	CLP	50,951	5/30/2024	HUB		981		—			981
USD	52,227	CLP	50,951	5/30/2024	HUB		1,276		—			1,276
USD	52,200	CLP	50,951	5/30/2024	HUB		1,249		—			1,249
USD	50,897	CLP	50,951	5/30/2024	HUB		—		(54	)		(54	)
USD	50,819	CLP	50,951	5/30/2024	HUB		—		(132	)		(132	)
USD	51,065	CLP	50,951	5/30/2024	HUB		114		—			114
USD	50,981	CLP	50,951	5/30/2024	HUB		30		—			30
USD	50,788	CLP	50,951	5/30/2024	HUB		—		(163	)		(163	)
USD	50,781	CLP	50,951	5/30/2024	HUB		—		(170	)		(170	)
USD	50,788	CLP	50,951	5/30/2024	HUB		—		(163	)		(163	)
USD	50,710	CLP	50,951	5/30/2024	HUB		—		(241	)		(241	)
USD	50,696	CLP	50,951	5/30/2024	HUB		—		(255	)		(255	)
USD	50,972	CLP	50,951	5/30/2024	HUB		21		—			21
USD	50,876	CLP	50,951	5/30/2024	HUB		—		(75	)		(75	)
USD	50,725	CLP	50,951	5/30/2024	HUB		—		(226	)		(226	)
USD	50,721	CLP	50,951	5/30/2024	HUB		—		(230	)		(230	)
USD	50,747	CLP	50,951	5/30/2024	HUB		—		(204	)		(204	)
USD	50,855	CLP	50,951	5/30/2024	HUB		—		(96	)		(96	)
USD	50,869	CLP	50,951	5/30/2024	HUB		—		(82	)		(82	)
USD	51,188	CLP	50,951	5/30/2024	HUB		237		—			237
USD	51,194	CLP	50,951	5/30/2024	HUB		243		—			243
USD	51,217	CLP	50,951	5/30/2024	HUB		266		—			266
USD	51,249	CLP	50,951	5/30/2024	HUB		298		—			298
USD	52,195	CLP	50,951	5/30/2024	HUB		1,244		—			1,244
USD	51,444	CLP	50,951	5/30/2024	HUB		493		—			493
USD	51,198	CLP	50,951	5/30/2024	HUB		247		—			247
USD	51,219	CLP	50,951	5/30/2024	HUB		268		—			268
USD	51,212	CLP	50,951	5/30/2024	HUB		261		—			261
USD	50,732	CLP	50,951	5/30/2024	HUB		—		(219	)		(219	)
USD	50,745	CLP	50,951	5/30/2024	HUB		—		(206	)		(206	)
USD	50,751	CLP	50,951	5/30/2024	HUB		—		(200	)		(200	)
USD	50,783	CLP	50,951	5/30/2024	HUB		—		(168	)		(168	)
USD	50,909	CLP	50,951	5/30/2024	HUB		—		(42	)		(42	)
USD	50,756	CLP	50,951	5/30/2024	HUB		—		(195	)		(195	)
USD	50,722	CLP	50,951	5/30/2024	HUB		—		(229	)		(229	)
USD	50,727	CLP	50,951	5/30/2024	HUB		—		(224	)		(224	)
USD	50,746	CLP	50,951	5/30/2024	HUB		—		(205	)		(205	)
USD	51,195	CLP	50,951	5/30/2024	HUB		244		—			244
USD	51,234	CLP	50,951	5/30/2024	HUB		283		—			283
PEN	67,160	USD	68,109	5/6/2024	RBS		—		(949	)		(949	)
PEN	67,160	USD	67,119	5/6/2024	RBS		41		—			41
PEN	67,160	USD	67,151	5/6/2024	RBS		9		—			9
PEN	67,160	USD	67,176	5/6/2024	RBS		—		(16	)		(16	)
PEN	67,160	USD	67,125	5/6/2024	RBS		35		—			35
PEN	67,160	USD	67,712	5/6/2024	RBS		—		(552	)		(552	)
PEN	67,160	USD	67,714	5/6/2024	RBS		—		(554	)		(554	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
PEN	67,160	USD	67,635	5/6/2024	RBS	$	—	$	(475	)	$	(475	)
PEN	67,160	USD	67,687	5/6/2024	RBS		—		(527	)		(527	)
PEN	67,160	USD	67,710	5/6/2024	RBS		—		(550	)		(550	)
PEN	67,160	USD	67,401	5/6/2024	RBS		—		(241	)		(241	)
PEN	67,160	USD	68,081	5/6/2024	RBS		—		(921	)		(921	)
PEN	134,320	USD	136,251	5/6/2024	RBS		—		(1,931	)		(1,931	)
PEN	134,320	USD	136,195	5/6/2024	RBS		—		(1,875	)		(1,875	)
PEN	134,320	USD	134,347	5/6/2024	RBS		—		(27	)		(27	)
PEN	134,320	USD	134,257	5/6/2024	RBS		63		—			63
PEN	134,320	USD	135,424	5/6/2024	RBS		—		(1,104	)		(1,104	)
PEN	134,320	USD	135,311	5/6/2024	RBS		—		(991	)		(991	)
PEN	134,320	USD	135,300	5/6/2024	RBS		—		(980	)		(980	)
PEN	134,320	USD	135,339	5/6/2024	RBS		—		(1,019	)		(1,019	)
PEN	134,320	USD	135,641	5/6/2024	RBS		—		(1,321	)		(1,321	)
PEN	134,320	USD	135,439	5/6/2024	RBS		—		(1,119	)		(1,119	)
PEN	134,320	USD	135,527	5/6/2024	RBS		—		(1,207	)		(1,207	)
PEN	134,320	USD	134,626	5/6/2024	RBS		—		(306	)		(306	)
PEN	134,320	USD	134,846	5/6/2024	RBS		—		(526	)		(526	)
PEN	134,320	USD	134,821	5/6/2024	RBS		—		(501	)		(501	)
PEN	134,320	USD	134,788	5/6/2024	RBS		—		(468	)		(468	)
PEN	134,320	USD	134,842	5/6/2024	RBS		—		(522	)		(522	)
PEN	134,320	USD	134,916	5/6/2024	RBS		—		(596	)		(596	)
PEN	134,320	USD	136,195	5/6/2024	RBS		—		(1,875	)		(1,875	)
PEN	134,320	USD	136,269	5/6/2024	RBS		—		(1,949	)		(1,949	)
PEN	201,480	USD	199,339	5/6/2024	RBS		2,141		—			2,141
PEN	201,480	USD	201,389	5/6/2024	RBS		91		—			91
PEN	201,480	USD	201,409	5/6/2024	RBS		71		—			71
PEN	201,480	USD	201,385	5/6/2024	RBS		95		—			95
PEN	201,480	USD	201,269	5/6/2024	RBS		211		—			211
PEN	201,480	USD	203,109	5/6/2024	RBS		—		(1,629	)		(1,629	)
PEN	201,480	USD	203,186	5/6/2024	RBS		—		(1,706	)		(1,706	)
PEN	201,480	USD	203,104	5/6/2024	RBS		—		(1,624	)		(1,624	)
PEN	201,480	USD	203,094	5/6/2024	RBS		—		(1,614	)		(1,614	)
PEN	201,480	USD	203,098	5/6/2024	RBS		—		(1,618	)		(1,618	)
PEN	201,480	USD	202,972	5/6/2024	RBS		—		(1,492	)		(1,492	)
PEN	201,480	USD	202,999	5/6/2024	RBS		—		(1,519	)		(1,519	)
PEN	201,480	USD	203,043	5/6/2024	RBS		—		(1,563	)		(1,563	)
PEN	201,480	USD	203,120	5/6/2024	RBS		—		(1,640	)		(1,640	)
PEN	201,480	USD	203,098	5/6/2024	RBS		—		(1,618	)		(1,618	)
PEN	201,480	USD	203,137	5/6/2024	RBS		—		(1,657	)		(1,657	)
PEN	201,480	USD	203,401	5/6/2024	RBS		—		(1,921	)		(1,921	)
PEN	201,480	USD	203,142	5/6/2024	RBS		—		(1,662	)		(1,662	)
PEN	201,480	USD	203,115	5/6/2024	RBS		—		(1,635	)		(1,635	)
PEN	201,480	USD	203,473	5/6/2024	RBS		—		(1,993	)		(1,993	)
PEN	201,480	USD	203,468	5/6/2024	RBS		—		(1,988	)		(1,988	)
PEN	201,480	USD	203,572	5/6/2024	RBS		—		(2,092	)		(2,092	)
PEN	201,480	USD	204,382	5/6/2024	RBS		—		(2,902	)		(2,902	)
PEN	201,480	USD	204,293	5/6/2024	RBS		—		(2,813	)		(2,813	)
PEN	268,640	USD	268,715	5/6/2024	RBS		—		(75	)		(75	)
PEN	268,640	USD	270,775	5/6/2024	RBS		—		(2,135	)		(2,135	)
PEN	268,640	USD	270,797	5/6/2024	RBS		—		(2,157	)		(2,157	)
PEN	268,640	USD	270,687	5/6/2024	RBS		—		(2,047	)		(2,047	)
PEN	268,640	USD	270,702	5/6/2024	RBS		—		(2,062	)		(2,062	)
PEN	268,640	USD	270,695	5/6/2024	RBS		—		(2,055	)		(2,055	)
PEN	268,640	USD	270,510	5/6/2024	RBS		—		(1,870	)		(1,870	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
PEN	268,640	USD	270,512	5/6/2024	RBS	$	—	$	(1,872	)	$	(1,872	)
PEN	268,640	USD	270,707	5/6/2024	RBS		—		(2,067	)		(2,067	)
PEN	268,640	USD	269,765	5/6/2024	RBS		—		(1,125	)		(1,125	)
PEN	268,640	USD	269,411	5/6/2024	RBS		—		(771	)		(771	)
PEN	268,640	USD	269,644	5/6/2024	RBS		—		(1,004	)		(1,004	)
PEN	268,640	USD	269,569	5/6/2024	RBS		—		(929	)		(929	)
PEN	268,640	USD	269,643	5/6/2024	RBS		—		(1,003	)		(1,003	)
PEN	268,640	USD	271,187	5/6/2024	RBS		—		(2,547	)		(2,547	)
PEN	268,640	USD	272,538	5/6/2024	RBS		—		(3,898	)		(3,898	)
PEN	335,800	USD	340,544	5/6/2024	RBS		—		(4,744	)		(4,744	)
PEN	335,800	USD	340,432	5/6/2024	RBS		—		(4,632	)		(4,632	)
PEN	335,800	USD	329,303	5/6/2024	RBS		6,497		—			6,497
PEN	335,800	USD	335,943	5/6/2024	RBS		—		(143	)		(143	)
PEN	335,800	USD	335,895	5/6/2024	RBS		—		(95	)		(95	)
PEN	335,800	USD	335,796	5/6/2024	RBS		4		—			4
PEN	335,800	USD	335,810	5/6/2024	RBS		—		(10	)		(10	)
PEN	335,800	USD	335,857	5/6/2024	RBS		—		(57	)		(57	)
PEN	335,800	USD	338,126	5/6/2024	RBS		—		(2,326	)		(2,326	)
PEN	335,800	USD	338,085	5/6/2024	RBS		—		(2,285	)		(2,285	)
PEN	335,800	USD	339,130	5/6/2024	RBS		—		(3,330	)		(3,330	)
PEN	335,800	USD	338,588	5/6/2024	RBS		—		(2,788	)		(2,788	)
PEN	335,800	USD	338,769	5/6/2024	RBS		—		(2,969	)		(2,969	)
PEN	335,800	USD	338,341	5/6/2024	RBS		—		(2,541	)		(2,541	)
PEN	335,800	USD	338,579	5/6/2024	RBS		—		(2,779	)		(2,779	)
PEN	335,800	USD	337,190	5/6/2024	RBS		—		(1,390	)		(1,390	)
PEN	335,800	USD	337,054	5/6/2024	RBS		—		(1,254	)		(1,254	)
PEN	335,800	USD	339,417	5/6/2024	RBS		—		(3,617	)		(3,617	)
PEN	335,800	USD	339,278	5/6/2024	RBS		—		(3,478	)		(3,478	)
PEN	402,960	USD	395,070	5/6/2024	RBS		7,890		—			7,890
PEN	402,960	USD	398,618	5/6/2024	RBS		4,342		—			4,342
PEN	402,960	USD	406,196	5/6/2024	RBS		—		(3,236	)		(3,236	)
PEN	402,960	USD	406,758	5/6/2024	RBS		—		(3,798	)		(3,798	)
PEN	402,960	USD	406,273	5/6/2024	RBS		—		(3,313	)		(3,313	)
PEN	402,960	USD	405,078	5/6/2024	RBS		—		(2,118	)		(2,118	)
PEN	402,960	USD	408,740	5/6/2024	RBS		—		(5,780	)		(5,780	)
PEN	436,540	USD	440,886	5/6/2024	RBS		—		(4,346	)		(4,346	)
PEN	436,540	USD	440,797	5/6/2024	RBS		—		(4,257	)		(4,257	)
PEN	470,120	USD	473,357	5/6/2024	RBS		—		(3,237	)		(3,237	)
PEN	470,120	USD	461,116	5/6/2024	RBS		9,004		—			9,004
PEN	470,120	USD	465,265	5/6/2024	RBS		4,855		—			4,855
PEN	470,120	USD	473,216	5/6/2024	RBS		—		(3,096	)		(3,096	)
PEN	470,120	USD	472,820	5/6/2024	RBS		—		(2,700	)		(2,700	)
PEN	470,120	USD	472,604	5/6/2024	RBS		—		(2,484	)		(2,484	)
PEN	537,280	USD	526,947	5/6/2024	RBS		10,333		—			10,333
PEN	537,280	USD	541,126	5/6/2024	RBS		—		(3,846	)		(3,846	)
PEN	537,280	USD	540,278	5/6/2024	RBS		—		(2,998	)		(2,998	)
PEN	537,280	USD	540,614	5/6/2024	RBS		—		(3,334	)		(3,334	)
PEN	604,440	USD	592,589	5/6/2024	RBS		11,851		—			11,851
PEN	604,440	USD	598,357	5/6/2024	RBS		6,083		—			6,083
PEN	671,600	USD	664,629	5/6/2024	RBS		6,971		—			6,971
PEN	805,919	USD	816,926	5/6/2024	RBS		—		(11,007	)		(11,007	)
PEN	1,544,679	USD	1,565,137	5/6/2024	RBS		—		(20,458	)		(20,458	)
USD	1,800,041	PEN	1,880,479	5/6/2024	RBS		—		(80,438	)		(80,438	)
USD	514,234	PEN	537,280	5/6/2024	RBS		—		(23,046	)		(23,046	)
USD	393,713	PEN	402,960	5/6/2024	RBS		—		(9,247	)		(9,247	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	388,297	PEN	402,960	5/6/2024	RBS	$	—	$	(14,663	)	$	(14,663	)
USD	322,371	PEN	335,800	5/6/2024	RBS		—		(13,429	)		(13,429	)
USD	324,011	PEN	335,800	5/6/2024	RBS		—		(11,789	)		(11,789	)
USD	323,089	PEN	335,800	5/6/2024	RBS		—		(12,711	)		(12,711	)
USD	323,399	PEN	335,800	5/6/2024	RBS		—		(12,401	)		(12,401	)
USD	323,650	PEN	335,800	5/6/2024	RBS		—		(12,150	)		(12,150	)
USD	257,945	PEN	268,640	5/6/2024	RBS		—		(10,695	)		(10,695	)
USD	257,934	PEN	268,640	5/6/2024	RBS		—		(10,706	)		(10,706	)
USD	257,934	PEN	268,640	5/6/2024	RBS		—		(10,706	)		(10,706	)
USD	257,894	PEN	268,640	5/6/2024	RBS		—		(10,746	)		(10,746	)
USD	257,853	PEN	268,640	5/6/2024	RBS		—		(10,787	)		(10,787	)
USD	259,225	PEN	268,640	5/6/2024	RBS		—		(9,415	)		(9,415	)
USD	259,303	PEN	268,640	5/6/2024	RBS		—		(9,337	)		(9,337	)
USD	258,617	PEN	268,640	5/6/2024	RBS		—		(10,023	)		(10,023	)
USD	258,545	PEN	268,640	5/6/2024	RBS		—		(10,095	)		(10,095	)
USD	258,840	PEN	268,640	5/6/2024	RBS		—		(9,800	)		(9,800	)
USD	258,779	PEN	268,640	5/6/2024	RBS		—		(9,861	)		(9,861	)
USD	258,853	PEN	268,640	5/6/2024	RBS		—		(9,787	)		(9,787	)
USD	258,920	PEN	268,640	5/6/2024	RBS		—		(9,720	)		(9,720	)
USD	258,913	PEN	268,640	5/6/2024	RBS		—		(9,727	)		(9,727	)
USD	258,846	PEN	268,640	5/6/2024	RBS		—		(9,794	)		(9,794	)
USD	193,426	PEN	201,480	5/6/2024	RBS		—		(8,054	)		(8,054	)
USD	193,350	PEN	201,480	5/6/2024	RBS		—		(8,130	)		(8,130	)
USD	194,260	PEN	201,480	5/6/2024	RBS		—		(7,220	)		(7,220	)
USD	194,553	PEN	201,480	5/6/2024	RBS		—		(6,927	)		(6,927	)
USD	194,416	PEN	201,480	5/6/2024	RBS		—		(7,064	)		(7,064	)
USD	194,371	PEN	201,480	5/6/2024	RBS		—		(7,109	)		(7,109	)
USD	194,461	PEN	201,480	5/6/2024	RBS		—		(7,019	)		(7,019	)
USD	194,275	PEN	201,480	5/6/2024	RBS		—		(7,205	)		(7,205	)
USD	193,912	PEN	201,480	5/6/2024	RBS		—		(7,568	)		(7,568	)
USD	193,963	PEN	201,480	5/6/2024	RBS		—		(7,517	)		(7,517	)
USD	193,964	PEN	201,480	5/6/2024	RBS		—		(7,516	)		(7,516	)
USD	193,954	PEN	201,480	5/6/2024	RBS		—		(7,526	)		(7,526	)
USD	193,934	PEN	201,480	5/6/2024	RBS		—		(7,546	)		(7,546	)
USD	194,074	PEN	201,480	5/6/2024	RBS		—		(7,406	)		(7,406	)
USD	194,140	PEN	201,480	5/6/2024	RBS		—		(7,340	)		(7,340	)
USD	194,135	PEN	201,480	5/6/2024	RBS		—		(7,345	)		(7,345	)
USD	194,205	PEN	201,480	5/6/2024	RBS		—		(7,275	)		(7,275	)
USD	194,185	PEN	201,480	5/6/2024	RBS		—		(7,295	)		(7,295	)
USD	194,234	PEN	201,480	5/6/2024	RBS		—		(7,246	)		(7,246	)
USD	194,236	PEN	201,480	5/6/2024	RBS		—		(7,244	)		(7,244	)
USD	194,138	PEN	201,480	5/6/2024	RBS		—		(7,342	)		(7,342	)
USD	128,917	PEN	134,320	5/6/2024	RBS		—		(5,403	)		(5,403	)
USD	128,948	PEN	134,320	5/6/2024	RBS		—		(5,372	)		(5,372	)
USD	129,651	PEN	134,320	5/6/2024	RBS		—		(4,669	)		(4,669	)
USD	129,537	PEN	134,320	5/6/2024	RBS		—		(4,783	)		(4,783	)
USD	129,309	PEN	134,320	5/6/2024	RBS		—		(5,011	)		(5,011	)
USD	129,286	PEN	134,320	5/6/2024	RBS		—		(5,034	)		(5,034	)
USD	129,413	PEN	134,320	5/6/2024	RBS		—		(4,907	)		(4,907	)
USD	129,380	PEN	134,320	5/6/2024	RBS		—		(4,940	)		(4,940	)
USD	129,440	PEN	134,320	5/6/2024	RBS		—		(4,880	)		(4,880	)
USD	129,403	PEN	134,320	5/6/2024	RBS		—		(4,917	)		(4,917	)
USD	129,457	PEN	134,320	5/6/2024	RBS		—		(4,863	)		(4,863	)
USD	64,512	PEN	67,160	5/6/2024	RBS		—		(2,648	)		(2,648	)
USD	64,818	PEN	67,160	5/6/2024	RBS		—		(2,342	)		(2,342	)

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	64,798	PEN	67,160	5/6/2024	RBS	$	—	$	(2,362	)	$	(2,362	)
USD	64,774	PEN	67,160	5/6/2024	RBS		—		(2,386	)		(2,386	)
USD	64,782	PEN	67,160	5/6/2024	RBS		—		(2,378	)		(2,378	)
USD	64,655	PEN	67,160	5/6/2024	RBS		—		(2,505	)		(2,505	)
USD	64,635	PEN	67,160	5/6/2024	RBS		—		(2,525	)		(2,525	)
USD	64,620	PEN	67,160	5/6/2024	RBS		—		(2,540	)		(2,540	)
USD	64,698	PEN	67,160	5/6/2024	RBS		—		(2,462	)		(2,462	)
USD	64,718	PEN	67,160	5/6/2024	RBS		—		(2,442	)		(2,442	)
USD	64,681	PEN	67,160	5/6/2024	RBS		—		(2,479	)		(2,479	)
USD	64,696	PEN	67,160	5/6/2024	RBS		—		(2,464	)		(2,464	)
USD	64,728	PEN	67,160	5/6/2024	RBS		—		(2,432	)		(2,432	)
USD	64,722	PEN	67,160	5/6/2024	RBS		—		(2,438	)		(2,438	)

						$	13,750,869	$	(10,026,751	)	$	3,724,118

*	All values denominated in USD.

Glossary:

Counterparty Abbreviations:


CBK		Citibank, N.A.
HUB		HSBC Bank PLC
RBS		Royal Bank Of Scotland PLC

Currency Abbreviations:


AUD		Australian Dollar
BRL		Brazilian Real
CLP		Chilean Peso
CNY		Chinese Yuan
COP		Colombian Peso
EUR		Euro
INR		Indian Rupee
JPY		Japanese Yen
KRW		South Korean Won
PEN		Peruvian Nuevo Sol
PHP		Philippine Peso
TWD		Taiwan Dollar
USD		United States Dollar

Index Abbreviations:


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

Exchange Abbreviations:


ASX		Australian Securities Exchange.
CME		Chicago Mercantile Exchange.

See accompanying notes

American Beacon AHL Managed Futures Strategy Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Exchange Abbreviations (continued):


EUREX		European derivatives exchange.
Euronext		European New Exchange Technology.
FinEx		Financial Instruments Exchange.
HKG		Hong Kong Exchange.
JSE		Johannesburg Stock Exchange.
KFE		Korea Exchange - KOFEX.
LME		London Metal Exchange.
ICE		Intercontinental Exchange.
NYMEX		New York Mercantile Exchange.
OML		OMLX: London Securities & Derivatives Exchange.
SAFEX		South African Futures Exchange.
SFE		Sydney Futures Exchange.
SGX		Singapore Stock Exchange.
TSE		Tokyo Stock Exchange.

Other Abbreviations:


Bund		German Federal Government Bond.
Buxl		Long term debt that is issued by the Federal Republic of Germany.
Bobl		Medium term debt that is issued by the Federal Republic of Germany.
COMEX		The Commodity Exchange Inc.
CBOT		Chicago Board of Trade.
CSC		CEI: Coffee, Sugar and Cocoa.
EURIBOR		Euro Interbank Offered Rate.
GILT		Bank of England Bonds.
KCBT		The Kansas City Board of Trade.
NYBOT		New York Board of Trade.
RBOB		Reformulated Gasoline Blendstock for Oxygen Blending.
Schatz		Short-dated equivalent of the Bobl and Bund futures.
SOFR		Secured Overnight Financing Rate.
SONIA		Sterling Overnight Index Average.
ULSD		Ultra-low-sulfur diesel.

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


AHL Managed Futures Strategy Fund	Level 1			Level 2			Level 3		Total
*Assets*
Short-Term Investments	$	—		$	2,854,155,139		$	—	$	2,854,155,139

Total Investments in Securities - Assets	$	—		$	2,854,155,139		$	—	$	2,854,155,139

*Financial Derivative Instruments - Assets*
Futures Contracts	$	174,440,450		$	—		$	—	$	174,440,450
Forward Foreign Currency Contracts		—			13,750,869			—		13,750,869

Total Financial Derivative Instruments - Assets	$	174,440,450		$	13,750,869		$	—	$	188,191,319

*Financial Derivative Instruments - Liabilities*
Futures Contracts	$	(54,949,462	)	$	—		$	—	$	(54,949,462	)
Forward Foreign Currency Contracts		—			(10,026,751	)		—		(10,026,751	)

Total Financial Derivative Instruments - Liabilities	$	(54,949,462	)	$	(10,026,751	)	$	—	$	(64,976,213	)

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

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)


	Principal Amount*			Fair Value
FOREIGN SOVEREIGN OBLIGATIONS - 4.98%
French Republic Government Bonds OAT, 0.600%, Due 7/25/2034^{A B C}		EUR	533,125	$	577,217
U.K. Inflation-Linked Gilts, 1.250%, Due 11/22/2032^{A B}		GBP	870,510		1,200,870

Total Foreign Sovereign Obligations (Cost $1,706,740)					1,778,087

U.S. TREASURY OBLIGATIONS - 5.63%
U.S. Treasury Inflation-Indexed Notes,
2.375%, Due 10/15/2028^A		$	1,006,760		1,030,954
1.375%, Due 7/15/2033^A			1,015,330		975,886

Total U.S. Treasury Obligations (Cost $1,975,873)					2,006,840

SHORT-TERM INVESTMENTS - 73.92%
U.S. Treasury Obligations - 73.92%
U.S. Treasury Bills,
5.463%, Due 5/2/2024^D			4,700,000		4,678,633
5.288%, Due 5/23/2024^D			1,000,000		992,418
5.351%, Due 6/6/2024^D			6,100,000		6,041,651
5.243%, Due 6/13/2024^D			1,000,000		989,424
5.225%, Due 6/27/2024			2,500,000		2,468,478
5.320%, Due 7/11/2024^D			5,200,000		5,124,940
5.260%, Due 7/18/2024^D			1,200,000		1,181,413
5.297%, Due 8/8/2024			5,000,000		4,908,199

Total Short-Term Investments (Cost $26,388,111)					26,385,156

TOTAL INVESTMENTS - 84.53% (Cost $30,070,724)					30,170,083
OTHER ASSETS, NET OF LIABILITIES - 15.47%					5,523,351

TOTAL NET ASSETS - 100.00%				$	35,693,434

Percentages are stated as a percent of net assets.

*	In U.S. Dollars unless otherwise noted.

^A	Inflation-Indexed Note.

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

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 $577,217 or 1.62% of net assets. The Fund has no right to demand registration of these securities.

^D	All or a portion represents positions held by the American Beacon AHL Multi-Alternatives Cayman Fund.

Long Futures Contracts Open on March 31, 2024:

Commodity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
COMEX Copper Futures^D	5	May 2024	$	485,759	$	500,875	$	15,116
COMEX Gold 100 Troy Ounces Futures^D	9	June 2024		1,979,496		2,014,560		35,064
COMEX Silver Futures^D	4	May 2024		501,607		498,320		(3,287	)
ICE Brent Crude Oil Futures^D	8	April 2024		674,430		696,000		21,570
ICE Gas Oil Futures^D	4	May 2024		325,306		323,200		(2,106	)
LME Copper Futures^D	1	April 2024		216,650		219,696		3,046
LME Copper Futures^D	4	May 2024		852,397		882,654		30,257
LME Copper Futures^D	2	June 2024		440,819		442,966		2,147
LME Lead Futures^D	3	May 2024		157,498		153,419		(4,079	)
LME Lead Futures^D	2	June 2024		107,813		102,626		(5,187	)

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 31, 2024 (continued):

Commodity Futures Contracts (continued)


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
LME Nickel Futures^D	1	May 2024	$	108,012	$	99,973	$	(8,039	)
LME Primary Aluminum Futures^D	2	May 2024		115,518		116,049		531
NYBOT CSC C Coffee Futures^D	3	May 2024		211,507		212,456		949
NYBOT CSC Cocoa Futures^D	1	May 2024		69,722		97,660		27,938
NYMEX Light Sweet Crude Oil Futures^D	6	April 2024		472,120		499,020		26,900
NYMEX NY Harbor ULSD Futures^D	1	April 2024		115,082		110,153		(4,929	)
NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Futures^D	6	April 2024		676,878		685,591		8,713

			$	7,510,614	$	7,655,218	$	144,604

Currency Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CME Mexican Peso Currency Futures	86	June 2024	$	2,516,837	$	2,556,350	$	39,513
NYBOT FINEX U.S. Dollar Index Futures	18	June 2024		1,860,523		1,876,842		16,319

			$	4,377,360	$	4,433,192	$	55,832

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
Borsa Italiana FTSE/MIB Index Futures	7	June 2024	$	1,234,267	$	1,291,799	$	57,532
CME E-Mini NASDAQ 100 Index Futures	5	June 2024		1,829,343		1,847,500		18,157
CME E-Mini Russell 2000 Index Futures	5	June 2024		526,995		536,475		9,480
CME E-Mini Standard & Poor’s 500 Index Futures	16	June 2024		4,158,262		4,246,800		88,538
Eurex DAX Index Futures	4	June 2024		1,954,599		2,025,649		71,050
Eurex EURO STOXX 50 Index Futures	41	June 2024		2,167,323		2,231,547		64,224
Eurex STOXX Europe 600 ESG-X Index Futures	1	June 2024		20,132		20,487		355
Euronext CAC 40 10 Index Futures	14	April 2024		1,217,497		1,242,069		24,572
HKG Hang Seng China Enterprises Index Futures	2	April 2024		74,259		74,282		23
ICE FTSE 100 Index Futures	22	June 2024		2,142,569		2,218,052		75,483
ICE U.S. mini MSCI EAFE Index Futures	8	June 2024		935,856		942,840		6,984
ICE U.S. MSCI Emerging Markets EM Index Futures	8	June 2024		421,646		419,600		(2,046	)
Montreal Exchange S&P/TSX 60 Index Futures	12	June 2024		2,339,297		2,376,701		37,404
NSE IFSC NIFTY 50 Index Futures	2	April 2024		89,311		89,952		641
OML Stockholm OMXS30 Index Futures	46	April 2024		1,067,455		1,084,894		17,439
SFE S&P ASX Share Price Index 200 Futures	19	June 2024		2,399,712		2,461,103		61,391
SGX FTSE China A50 Futures	34	April 2024		412,977		412,182		(795	)
SGX FTSE Taiwan Index Futures	16	April 2024		1,102,027		1,115,200		13,173
SGX MSCI Singapore Index Futures	11	April 2024		237,896		238,045		149
SGX Nikkei 225 Stock Index Futures	10	June 2024		1,314,472		1,338,354		23,882
TSE TOPIX Futures	10	June 2024		1,778,550		1,829,832		51,282

			$	27,424,445	$	28,043,363	$	618,918

Interest Rate Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CBOT U.S. Long Bond Futures	2	June 2024	$	241,783	$	240,875	$	(908	)
CBOT Ultra Long Term U.S. Treasury Bond Futures	5	June 2024		642,525		645,000		2,475
Eurex 10 Year Euro BUND Futures	3	June 2024		431,563		431,691		128

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 31, 2024 (continued):

Interest Rate Futures Contracts (continued)


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
Eurex 30 Year Euro BUXL Futures	1	June 2024	$	146,444	$	146,508	$	64
Eurex Euro-BTP Italian Bond Futures	6	June 2024		759,859		770,364		10,505
French Government Bonds Futures	5	June 2024		687,910		691,381		3,471
ICE Long Gilt Futures	7	June 2024		868,036		882,975		14,939
KFE 10 Year Treasury Bond Futures	3	June 2024		252,624		252,680		56
KFE 3 Year Treasury Bond Futures	4	June 2024		311,308		311,324		16
Montreal Exchange 10 Year Canadian Bond Futures	5	June 2024		441,819		444,207		2,388
SFE 10 Year Australian Bond Futures	12	June 2024		909,085		911,600		2,515
TSE Japanese 10 Year Bond Futures	8	June 2024		7,693,966		7,698,243		4,277

			$	13,386,922	$	13,426,848	$	39,926

Short Futures Contracts Open on March 31, 2024:

Commodity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
CBOT Corn Futures^D	24	May 2024	$	(510,821	)	$	(530,400	)	$	(19,579	)
CBOT Corn Futures^D	2	July 2024		(44,145	)		(45,450	)		(1,305	)
CBOT Soybean Futures^D	9	May 2024		(526,942	)		(536,175	)		(9,233	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	8	October 2024		(66,350	)		(58,600	)		7,750
ICE U.S. - Henry Ld1 Fixed Price Futures^D	8	November 2024		(66,350	)		(68,840	)		(2,490	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	8	December 2024		(66,350	)		(74,540	)		(8,190	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	8	January 2025		(66,350	)		(71,020	)		(4,670	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	8	February 2025		(66,350	)		(64,000	)		2,350
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	March 2025		(32,695	)		(30,080	)		2,615
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	April 2025		(32,695	)		(30,700	)		1,995
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	May 2025		(32,695	)		(32,410	)		285
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	June 2025		(32,695	)		(34,170	)		(1,475	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	July 2025		(32,695	)		(34,590	)		(1,895	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	August 2025		(32,695	)		(34,180	)		(1,485	)
ICE U.S. - Henry Ld1 Fixed Price Futures^D	4	September 2025		(32,695	)		(34,670	)		(1,975	)
KCBT Hard Red Winter Wheat Futures^D	7	May 2024		(200,697	)		(204,838	)		(4,141	)
LME Copper Futures^D	1	April 2024		(206,442	)		(219,696	)		(13,254	)
LME Copper Futures^D	3	May 2024		(621,247	)		(661,991	)		(40,744	)
LME Lead Futures^D	3	May 2024		(154,460	)		(153,419	)		1,041
LME Lead Futures^D	6	June 2024		(306,525	)		(307,878	)		(1,353	)
LME Nickel Futures^D	1	May 2024		(95,456	)		(99,973	)		(4,517	)
LME Nickel Futures^D	2	June 2024		(205,571	)		(200,884	)		4,687
LME Primary Aluminum Futures^D	3	May 2024		(164,808	)		(174,074	)		(9,266	)
LME Primary Aluminum Futures^D	1	June 2024		(56,076	)		(58,366	)		(2,290	)
LME Zinc Futures^D	1	May 2024		(60,598	)		(60,517	)		81
LME Zinc Futures^D	4	June 2024		(247,142	)		(243,517	)		3,625
LME Zinc Futures^D	1	July 2024		(61,006	)		(61,185	)		(179	)
NYBOT CSC Number 11 World Sugar Futures^D	5	April 2024		(119,840	)		(126,112	)		(6,272	)
NYMEX Henry Hub Natural Gas Futures^D	36	April 2024		(656,527	)		(634,680	)		21,847

			$	(4,798,918	)	$	(4,886,955	)	$	(88,037	)

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Short Futures Contracts Open on March 31, 2024 (continued):

Currency Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
CME Australian Dollar Currency Futures	26	June 2024	$	(1,704,605	)	$	(1,698,580	)	$	6,025
CME British Pound Currency Futures	24	June 2024		(1,894,570	)		(1,894,050	)		520
CME Canadian Dollar Currency Futures	28	June 2024		(2,072,293	)		(2,070,320	)		1,973
CME Euro Foreign Exchange Currency Futures	30	June 2024		(4,099,706	)		(4,058,063	)		41,643
CME Japanese Yen Currency Futures	59	June 2024		(5,046,921	)		(4,930,556	)		116,365
CME New Zealand Dollar Currency Futures	10	June 2024		(602,102	)		(597,500	)		4,602
CME Swiss Franc Currency Futures	6	June 2024		(855,852	)		(838,650	)		17,202

			$	(16,276,049	)	$	(16,087,719	)	$	188,330

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
SAFEX FTSE/JSE Top 40 Index Futures	9	June 2024	$	(316,836	)	$	(327,531	)	$	(10,695	)

			$	(316,836	)	$	(327,531	)	$	(10,695	)

Interest Rate Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount			Contract Value			Unrealized Appreciation (Depreciation)
3 Month Euro Euribor Futures	18	December 2024	$	(4,721,213	)	$	(4,707,966	)	$	13,247
3 Month Euro Euribor Futures	14	March 2025		(3,670,537	)		(3,670,814	)		(277	)
3 Month Euro Euribor Futures	6	September 2025		(1,577,302	)		(1,578,465	)		(1,163	)
CBOT 2 Year U.S. Treasury Notes Futures	15	June 2024		(3,069,230	)		(3,067,266	)		1,964
CBOT 5 Year U.S. Treasury Notes Futures	8	June 2024		(853,376	)		(856,125	)		(2,749	)
CBOT 10 Year U.S. Treasury Notes Futures	5	June 2024		(550,136	)		(553,984	)		(3,848	)
Eurex 2 Year Euro SCHATZ Futures	32	June 2024		(3,648,206	)		(3,649,102	)		(896	)
Eurex 5 Year Euro BOBL Futures	9	June 2024		(1,141,527	)		(1,148,166	)		(6,639	)
SFE 3 Year Australian Bond Futures	9	June 2024		(624,241	)		(627,036	)		(2,795	)
Three Month SONIA Index Futures	17	March 2025		(5,130,513	)		(5,128,383	)		2,130
Three Month SONIA Index Futures	1	September 2025		(302,962	)		(303,105	)		(143	)
Three Month SONIA Index Futures	2	December 2025		(605,830	)		(607,157	)		(1,327	)
Three-Month SOFR Futures	1	December 2024		(238,124	)		(237,838	)		286
Three-Month SOFR Futures	24	March 2025		(5,742,691	)		(5,725,800	)		16,891
Three-Month SOFR Futures	5	September 2025		(1,202,118	)		(1,199,188	)		2,930
Three-Month SOFR Futures	4	December 2025		(961,382	)		(961,200	)		182
Three-Month SOFR Futures	7	September 2026		(1,684,753	)		(1,686,563	)		(1,810	)

			$	(35,724,141	)	$	(35,708,158	)	$	15,983

^D	All or a portion represents positions held by the American Beacon AHL Multi-Alternatives Cayman Fund.

Centrally Cleared Swap Agreements Outstanding on March 31, 2024:

Credit Default Swaps on Credit Indices - Sell Protection⁽¹⁾


Index/Tranches	Fixed Rate (%)		Payment Frequency	Expiration Date		Implied Credit Spread at 3/31/2024⁽²⁾ (%)		Curr	Notional Amount⁽³⁾ (000s)		Premiums Paid (Received)		Fair Value⁽⁴⁾		Unrealized Appreciation (Depreciation)
CDX.NA.IG.S42		1.00	Quarterly		6/20/2029		0.5144	USD		15,000	$	337,410	$	342,410	$	5,000

											$	337,410	$	342,410	$	5,000

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

OTC Swap Agreements Outstanding on March 31, 2024:

Total Return Swap Agreements


Pay/Receive Floating Rate	Description	Reference Entity	Counter- party	Floating Rate			Payment Frequency		Expiration Date	Reference Quantity		Notional Amount		Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Pay	1-Month USD-LIBOR	BBUXALC INDEX	JPM		0.000	%		Maturity	4/5/2024		37,000	$	4,580,606	$	—	$	57,296

														$	—	$	57,296

⁽¹⁾

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

⁽²⁾

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

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

⁽⁴⁾

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

Forward Foreign Currency Contracts Open on March 31, 2024:


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
TWD	78,116	USD	78,959	4/1/2024	CBK	$	—	$	(843	)	$	(843	)
USD	79,448	TWD	78,117	4/1/2024	CBK		1,331		—			1,331
INR	29,974	USD	30,112	4/4/2024	CBK		—		(138	)		(138	)
INR	29,974	USD	30,223	4/4/2024	CBK		—		(249	)		(249	)
INR	29,974	USD	30,198	4/4/2024	CBK		—		(224	)		(224	)
INR	29,974	USD	30,186	4/4/2024	CBK		—		(212	)		(212	)
INR	29,974	USD	30,181	4/4/2024	CBK		—		(207	)		(207	)
INR	29,974	USD	30,015	4/4/2024	CBK		—		(41	)		(41	)
INR	29,974	USD	30,101	4/4/2024	CBK		—		(127	)		(127	)
INR	29,974	USD	30,117	4/4/2024	CBK		—		(143	)		(143	)
USD	30,141	INR	29,974	4/4/2024	CBK		167		—			167
USD	30,127	INR	29,974	4/4/2024	CBK		153		—			153
USD	30,109	INR	29,974	4/4/2024	CBK		135		—			135
USD	30,052	INR	29,974	4/4/2024	CBK		78		—			78
USD	30,066	INR	29,974	4/4/2024	CBK		92		—			92
USD	30,144	INR	29,974	4/4/2024	CBK		170		—			170
USD	16,253	INR	16,197	4/4/2024	CBK		56		—			56
USD	15,333	INR	15,283	4/4/2024	CBK		50		—			50
USD	14,740	INR	14,691	4/4/2024	CBK		49		—			49
USD	13,825	INR	13,777	4/4/2024	CBK		48		—			48
TWD	93,969	USD	93,854	4/15/2024	CBK		115		—			115
TWD	297,322	USD	296,965	4/15/2024	CBK		357		—			357
USD	396,525	TWD	391,291	4/15/2024	CBK		5,234		—			5,234
INR	29,965	USD	30,079	4/16/2024	CBK		—		(114	)		(114	)
USD	30,071	INR	29,965	4/16/2024	CBK		106		—			106
USD	238,552	TWD	235,108	4/29/2024	CBK		3,444		—			3,444
USD	79,059	TWD	78,369	4/29/2024	CBK		690		—			690

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
INR	84,979	USD	85,579	5/10/2024	CBK	$	—	$	(600	)	$	(600	)
INR	184,523	USD	185,846	5/10/2024	CBK		—		(1,323	)		(1,323	)
USD	30,032	INR	29,945	5/10/2024	CBK		87		—			87
USD	29,945	INR	29,945	5/10/2024	CBK		—		—			—
USD	29,955	INR	29,945	5/10/2024	CBK		10		—			10
USD	29,960	INR	29,945	5/10/2024	CBK		15		—			15
USD	29,961	INR	29,945	5/10/2024	CBK		16		—			16
USD	29,964	INR	29,945	5/10/2024	CBK		19		—			19
USD	29,969	INR	29,945	5/10/2024	CBK		24		—			24
USD	29,969	INR	29,945	5/10/2024	CBK		24		—			24
USD	29,974	INR	29,945	5/10/2024	CBK		29		—			29
USD	29,971	INR	29,945	5/10/2024	CBK		26		—			26
USD	29,953	INR	29,945	5/10/2024	CBK		8		—			8
USD	15,930	INR	15,925	5/10/2024	CBK		5		—			5
USD	14,025	INR	14,019	5/10/2024	CBK		6		—			6
USD	78,690	TWD	78,491	5/13/2024	CBK		199		—			199
USD	297,392	TWD	298,548	5/23/2024	CBK		—		(1,156	)		(1,156	)
USD	94,006	TWD	94,356	5/23/2024	CBK		—		(350	)		(350	)
BRL	19,939	USD	20,149	4/2/2024	HUB		—		(210	)		(210	)
BRL	19,939	USD	20,204	4/2/2024	HUB		—		(265	)		(265	)
BRL	19,939	USD	20,202	4/2/2024	HUB		—		(263	)		(263	)
BRL	19,939	USD	20,204	4/2/2024	HUB		—		(265	)		(265	)
BRL	19,939	USD	20,216	4/2/2024	HUB		—		(277	)		(277	)
BRL	19,939	USD	20,218	4/2/2024	HUB		—		(279	)		(279	)
BRL	19,939	USD	20,220	4/2/2024	HUB		—		(281	)		(281	)
BRL	19,939	USD	20,235	4/2/2024	HUB		—		(296	)		(296	)
BRL	19,939	USD	20,225	4/2/2024	HUB		—		(286	)		(286	)
BRL	19,939	USD	20,080	4/2/2024	HUB		—		(141	)		(141	)
BRL	19,939	USD	20,039	4/2/2024	HUB		—		(100	)		(100	)
BRL	19,939	USD	20,041	4/2/2024	HUB		—		(102	)		(102	)
BRL	19,939	USD	20,045	4/2/2024	HUB		—		(106	)		(106	)
BRL	19,939	USD	20,047	4/2/2024	HUB		—		(108	)		(108	)
BRL	19,939	USD	20,034	4/2/2024	HUB		—		(95	)		(95	)
BRL	19,939	USD	20,032	4/2/2024	HUB		—		(93	)		(93	)
BRL	19,939	USD	20,018	4/2/2024	HUB		—		(79	)		(79	)
BRL	19,939	USD	20,022	4/2/2024	HUB		—		(83	)		(83	)
BRL	19,939	USD	20,078	4/2/2024	HUB		—		(139	)		(139	)
BRL	19,939	USD	20,130	4/2/2024	HUB		—		(191	)		(191	)
BRL	19,939	USD	20,179	4/2/2024	HUB		—		(240	)		(240	)
BRL	19,939	USD	20,176	4/2/2024	HUB		—		(237	)		(237	)
BRL	19,939	USD	20,185	4/2/2024	HUB		—		(246	)		(246	)
BRL	19,939	USD	20,193	4/2/2024	HUB		—		(254	)		(254	)
BRL	19,939	USD	20,187	4/2/2024	HUB		—		(248	)		(248	)
BRL	19,939	USD	20,205	4/2/2024	HUB		—		(266	)		(266	)
BRL	19,939	USD	20,204	4/2/2024	HUB		—		(265	)		(265	)
BRL	19,939	USD	20,217	4/2/2024	HUB		—		(278	)		(278	)
BRL	19,939	USD	20,226	4/2/2024	HUB		—		(287	)		(287	)
BRL	19,939	USD	20,216	4/2/2024	HUB		—		(277	)		(277	)
BRL	19,939	USD	20,220	4/2/2024	HUB		—		(281	)		(281	)
BRL	19,939	USD	20,206	4/2/2024	HUB		—		(267	)		(267	)
BRL	19,939	USD	20,208	4/2/2024	HUB		—		(269	)		(269	)
BRL	19,939	USD	20,177	4/2/2024	HUB		—		(238	)		(238	)
BRL	19,939	USD	20,163	4/2/2024	HUB		—		(224	)		(224	)
BRL	19,939	USD	20,161	4/2/2024	HUB		—		(222	)		(222	)
BRL	19,939	USD	20,158	4/2/2024	HUB		—		(219	)		(219	)
BRL	32,406	USD	32,847	4/2/2024	HUB		—		(441	)		(441	)

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	35,446	USD	35,401	4/2/2024	HUB	$	45	$	—		$	45
BRL	42,354	USD	42,911	4/2/2024	HUB		—		(557	)		(557	)
BRL	53,169	USD	53,047	4/2/2024	HUB		122		—			122
BRL	64,811	USD	65,594	4/2/2024	HUB		—		(783	)		(783	)
BRL	70,893	USD	70,751	4/2/2024	HUB		142		—			142
BRL	71,738	USD	71,847	4/2/2024	HUB		—		(109	)		(109	)
BRL	71,786	USD	72,056	4/2/2024	HUB		—		(270	)		(270	)
BRL	71,786	USD	72,212	4/2/2024	HUB		—		(426	)		(426	)
BRL	86,400	USD	87,368	4/2/2024	HUB		—		(968	)		(968	)
BRL	86,400	USD	87,430	4/2/2024	HUB		—		(1,030	)		(1,030	)
BRL	86,401	USD	87,226	4/2/2024	HUB		—		(825	)		(825	)
BRL	119,643	USD	120,282	4/2/2024	HUB		—		(639	)		(639	)
BRL	143,572	USD	143,944	4/2/2024	HUB		—		(372	)		(372	)
USD	183,274	BRL	183,519	4/2/2024	HUB		—		(245	)		(245	)
USD	109,078	BRL	109,758	4/2/2024	HUB		—		(680	)		(680	)
USD	96,078	BRL	96,407	4/2/2024	HUB		—		(329	)		(329	)
USD	96,048	BRL	96,406	4/2/2024	HUB		—		(358	)		(358	)
USD	83,068	BRL	83,192	4/2/2024	HUB		—		(124	)		(124	)
USD	76,468	BRL	76,831	4/2/2024	HUB		—		(363	)		(363	)
USD	75,604	BRL	75,748	4/2/2024	HUB		—		(144	)		(144	)
USD	72,464	BRL	72,510	4/2/2024	HUB		—		(46	)		(46	)
USD	72,477	BRL	72,509	4/2/2024	HUB		—		(32	)		(32	)
USD	36,634	BRL	36,704	4/2/2024	HUB		—		(70	)		(70	)
USD	36,629	BRL	36,704	4/2/2024	HUB		—		(75	)		(75	)
USD	36,633	BRL	36,704	4/2/2024	HUB		—		(71	)		(71	)
USD	29,641	BRL	29,787	4/2/2024	HUB		—		(146	)		(146	)
USD	26,839	BRL	26,887	4/2/2024	HUB		—		(48	)		(48	)
USD	26,407	BRL	26,476	4/2/2024	HUB		—		(69	)		(69	)
USD	20,101	BRL	20,190	4/2/2024	HUB		—		(89	)		(89	)
USD	20,018	BRL	19,939	4/2/2024	HUB		79		—			79
USD	19,895	BRL	19,939	4/2/2024	HUB		—		(44	)		(44	)
USD	19,899	BRL	19,939	4/2/2024	HUB		—		(40	)		(40	)
USD	19,816	BRL	19,939	4/2/2024	HUB		—		(123	)		(123	)
USD	19,824	BRL	19,939	4/2/2024	HUB		—		(115	)		(115	)
USD	19,814	BRL	19,939	4/2/2024	HUB		—		(125	)		(125	)
USD	19,883	BRL	19,939	4/2/2024	HUB		—		(56	)		(56	)
USD	19,973	BRL	19,939	4/2/2024	HUB		34		—			34
USD	20,077	BRL	19,939	4/2/2024	HUB		138		—			138
USD	20,098	BRL	19,939	4/2/2024	HUB		159		—			159
USD	20,040	BRL	19,939	4/2/2024	HUB		101		—			101
USD	20,039	BRL	19,939	4/2/2024	HUB		100		—			100
USD	20,040	BRL	19,939	4/2/2024	HUB		101		—			101
USD	20,059	BRL	19,939	4/2/2024	HUB		120		—			120
USD	20,075	BRL	19,939	4/2/2024	HUB		136		—			136
USD	20,107	BRL	19,939	4/2/2024	HUB		168		—			168
USD	20,141	BRL	19,939	4/2/2024	HUB		202		—			202
USD	19,977	BRL	19,939	4/2/2024	HUB		38		—			38
USD	19,994	BRL	19,939	4/2/2024	HUB		55		—			55
USD	19,994	BRL	19,939	4/2/2024	HUB		55		—			55
USD	20,050	BRL	19,939	4/2/2024	HUB		111		—			111
USD	20,039	BRL	19,939	4/2/2024	HUB		100		—			100
USD	20,142	BRL	19,939	4/2/2024	HUB		203		—			203
USD	20,024	BRL	19,939	4/2/2024	HUB		85		—			85
USD	20,047	BRL	19,939	4/2/2024	HUB		108		—			108
USD	20,051	BRL	19,939	4/2/2024	HUB		112		—			112
USD	20,042	BRL	19,939	4/2/2024	HUB		103		—			103

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	20,055	BRL	19,939	4/2/2024	HUB	$	116	$	—		$	116
USD	16,755	BRL	16,853	4/2/2024	HUB		—		(98	)		(98	)
USD	16,754	BRL	16,852	4/2/2024	HUB		—		(98	)		(98	)
USD	16,178	BRL	16,263	4/2/2024	HUB		—		(85	)		(85	)
USD	15,562	BRL	15,600	4/2/2024	HUB		—		(38	)		(38	)
USD	15,208	BRL	15,244	4/2/2024	HUB		—		(36	)		(36	)
USD	15,210	BRL	15,196	4/2/2024	HUB		14		—			14
USD	10,224	BRL	10,273	4/2/2024	HUB		—		(49	)		(49	)
USD	9,372	BRL	9,414	4/2/2024	HUB		—		(42	)		(42	)
USD	4,748	BRL	4,743	4/2/2024	HUB		5		—			5
USD	4,519	BRL	4,527	4/2/2024	HUB		—		(8	)		(8	)
USD	4,517	BRL	4,526	4/2/2024	HUB		—		(9	)		(9	)
USD	3,930	BRL	3,938	4/2/2024	HUB		—		(8	)		(8	)
USD	2,490	BRL	2,496	4/2/2024	HUB		—		(6	)		(6	)
USD	531,917	EUR	524,633	4/18/2024	HUB		7,284		—			7,284
USD	295,893	JPY	290,879	4/18/2024	HUB		5,014		—			5,014
USD	271,176	AUD	265,986	4/18/2024	HUB		5,190		—			5,190
PHP	19,025	USD	19,340	4/19/2024	HUB		—		(315	)		(315	)
PHP	25,433	USD	25,854	4/19/2024	HUB		—		(421	)		(421	)
PHP	44,458	USD	45,136	4/19/2024	HUB		—		(678	)		(678	)
PHP	44,458	USD	45,122	4/19/2024	HUB		—		(664	)		(664	)
PHP	44,458	USD	45,137	4/19/2024	HUB		—		(679	)		(679	)
PHP	44,458	USD	45,093	4/19/2024	HUB		—		(635	)		(635	)
KRW	74,350	USD	75,564	4/19/2024	HUB		—		(1,214	)		(1,214	)
KRW	74,350	USD	74,797	4/19/2024	HUB		—		(447	)		(447	)
USD	75,033	KRW	74,350	4/19/2024	HUB		683		—			683
USD	75,135	KRW	74,350	4/19/2024	HUB		785		—			785
USD	44,499	PHP	44,459	4/19/2024	HUB		40		—			40
USD	34,892	PHP	34,902	4/19/2024	HUB		—		(10	)		(10	)
USD	24,186	PHP	24,250	4/19/2024	HUB		—		(64	)		(64	)
USD	22,741	PHP	22,770	4/19/2024	HUB		—		(29	)		(29	)
USD	21,653	PHP	21,688	4/19/2024	HUB		—		(35	)		(35	)
USD	21,298	PHP	21,311	4/19/2024	HUB		—		(13	)		(13	)
USD	20,157	PHP	20,209	4/19/2024	HUB		—		(52	)		(52	)
USD	13,418	PHP	13,426	4/19/2024	HUB		—		(8	)		(8	)
USD	9,714	PHP	9,722	4/19/2024	HUB		—		(8	)		(8	)
USD	9,553	PHP	9,557	4/19/2024	HUB		—		(4	)		(4	)
CNY	69,331	USD	70,562	4/24/2024	HUB		—		(1,231	)		(1,231	)
USD	70,081	CNY	69,331	4/24/2024	HUB		750		—			750
CLP	486	USD	495	4/29/2024	HUB		—		(9	)		(9	)
CLP	5,206	USD	5,395	4/29/2024	HUB		—		(189	)		(189	)
COP	24,509	USD	23,916	4/29/2024	HUB		593		—			593
COP	32,679	USD	31,879	4/29/2024	HUB		800		—			800
CLP	45,782	USD	47,398	4/29/2024	HUB		—		(1,616	)		(1,616	)
COP	45,815	USD	44,721	4/29/2024	HUB		1,094		—			1,094
CLP	50,502	USD	51,461	4/29/2024	HUB		—		(959	)		(959	)
CLP	50,988	USD	51,790	4/29/2024	HUB		—		(802	)		(802	)
CLP	50,988	USD	52,695	4/29/2024	HUB		—		(1,707	)		(1,707	)
KRW	74,392	USD	74,763	4/29/2024	HUB		—		(371	)		(371	)
USD	75,115	KRW	74,392	4/29/2024	HUB		723		—			723
USD	74,883	KRW	74,392	4/29/2024	HUB		491		—			491
USD	74,801	KRW	74,392	4/29/2024	HUB		409		—			409
USD	74,909	KRW	74,392	4/29/2024	HUB		517		—			517
USD	74,866	KRW	74,392	4/29/2024	HUB		474		—			474
USD	74,896	KRW	74,392	4/29/2024	HUB		504		—			504
USD	74,762	KRW	74,392	4/29/2024	HUB		370		—			370

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
USD	74,845	KRW	74,392	4/29/2024	HUB	$	453	$	—		$	453
USD	74,839	KRW	74,392	4/29/2024	HUB		447		—			447
USD	75,145	KRW	74,392	4/29/2024	HUB		753		—			753
USD	75,009	KRW	74,392	4/29/2024	HUB		617		—			617
USD	75,175	KRW	74,392	4/29/2024	HUB		783		—			783
USD	75,124	KRW	74,392	4/29/2024	HUB		732		—			732
USD	74,628	KRW	74,392	4/29/2024	HUB		236		—			236
USD	74,162	KRW	74,392	4/29/2024	HUB		—		(230	)		(230	)
USD	53,107	CLP	50,988	4/29/2024	HUB		2,119		—			2,119
USD	54,162	CLP	50,988	4/29/2024	HUB		3,174		—			3,174
USD	54,039	CLP	50,988	4/29/2024	HUB		3,051		—			3,051
USD	53,255	CLP	50,988	4/29/2024	HUB		2,267		—			2,267
USD	18,728	KRW	18,508	4/29/2024	HUB		220		—			220
USD	18,508	KRW	18,309	4/29/2024	HUB		199		—			199
USD	18,123	KRW	17,911	4/29/2024	HUB		212		—			212
USD	17,297	KRW	17,115	4/29/2024	HUB		182		—			182
USD	15,700	KRW	15,523	4/29/2024	HUB		177		—			177
USD	15,296	KRW	15,125	4/29/2024	HUB		171		—			171
USD	13,117	KRW	13,040	4/29/2024	HUB		77		—			77
USD	13,095	KRW	13,022	4/29/2024	HUB		73		—			73
USD	12,708	KRW	12,635	4/29/2024	HUB		73		—			73
USD	12,480	KRW	12,339	4/29/2024	HUB		141		—			141
USD	12,193	KRW	12,064	4/29/2024	HUB		129		—			129
USD	11,065	KRW	10,946	4/29/2024	HUB		119		—			119
USD	11,074	KRW	10,946	4/29/2024	HUB		128		—			128
USD	10,973	KRW	10,907	4/29/2024	HUB		66		—			66
USD	10,108	KRW	10,056	4/29/2024	HUB		52		—			52
USD	10,107	KRW	10,056	4/29/2024	HUB		51		—			51
USD	10,110	KRW	10,056	4/29/2024	HUB		54		—			54
USD	9,978	KRW	9,927	4/29/2024	HUB		51		—			51
USD	9,780	KRW	9,721	4/29/2024	HUB		59		—			59
USD	9,780	KRW	9,721	4/29/2024	HUB		59		—			59
USD	9,760	KRW	9,661	4/29/2024	HUB		99		—			99
USD	9,652	KRW	9,554	4/29/2024	HUB		98		—			98
USD	9,436	KRW	9,339	4/29/2024	HUB		97		—			97
USD	9,327	KRW	9,232	4/29/2024	HUB		95		—			95
USD	9,063	KRW	9,010	4/29/2024	HUB		53		—			53
USD	8,785	KRW	8,695	4/29/2024	HUB		90		—			90
USD	8,690	KRW	8,640	4/29/2024	HUB		50		—			50
USD	8,109	KRW	8,061	4/29/2024	HUB		48		—			48
USD	7,701	KRW	7,622	4/29/2024	HUB		79		—			79
USD	7,155	KRW	7,113	4/29/2024	HUB		42		—			42
USD	6,942	KRW	6,870	4/29/2024	HUB		72		—			72
USD	6,860	KRW	6,819	4/29/2024	HUB		41		—			41
USD	6,832	KRW	6,763	4/29/2024	HUB		69		—			69
USD	6,725	KRW	6,656	4/29/2024	HUB		69		—			69
BRL	19,877	USD	19,989	5/3/2024	HUB		—		(112	)		(112	)
BRL	19,877	USD	19,979	5/3/2024	HUB		—		(102	)		(102	)
BRL	19,877	USD	19,981	5/3/2024	HUB		—		(104	)		(104	)
BRL	19,877	USD	19,955	5/3/2024	HUB		—		(78	)		(78	)
BRL	19,877	USD	20,001	5/3/2024	HUB		—		(124	)		(124	)
BRL	19,877	USD	20,012	5/3/2024	HUB		—		(135	)		(135	)
BRL	19,877	USD	20,009	5/3/2024	HUB		—		(132	)		(132	)
BRL	19,877	USD	19,996	5/3/2024	HUB		—		(119	)		(119	)
BRL	19,877	USD	20,027	5/3/2024	HUB		—		(150	)		(150	)
BRL	19,877	USD	20,005	5/3/2024	HUB		—		(128	)		(128	)

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
BRL	19,877	USD	19,991	5/3/2024	HUB	$	—	$	(114	)	$	(114	)
BRL	19,877	USD	19,984	5/3/2024	HUB		—		(107	)		(107	)
BRL	19,877	USD	19,981	5/3/2024	HUB		—		(104	)		(104	)
BRL	19,877	USD	19,976	5/3/2024	HUB		—		(99	)		(99	)
BRL	19,877	USD	19,976	5/3/2024	HUB		—		(99	)		(99	)
BRL	19,877	USD	20,010	5/3/2024	HUB		—		(133	)		(133	)
BRL	19,877	USD	20,024	5/3/2024	HUB		—		(147	)		(147	)
BRL	19,877	USD	20,026	5/3/2024	HUB		—		(149	)		(149	)
BRL	19,877	USD	20,026	5/3/2024	HUB		—		(149	)		(149	)
BRL	19,877	USD	19,993	5/3/2024	HUB		—		(116	)		(116	)
BRL	36,590	USD	36,519	5/3/2024	HUB		71		—			71
BRL	36,590	USD	36,512	5/3/2024	HUB		78		—			78
BRL	36,590	USD	36,517	5/3/2024	HUB		73		—			73
BRL	72,284	USD	72,243	5/3/2024	HUB		41		—			41
BRL	72,284	USD	72,230	5/3/2024	HUB		54		—			54
BRL	75,513	USD	75,361	5/3/2024	HUB		152		—			152
BRL	76,592	USD	76,224	5/3/2024	HUB		368		—			368
BRL	82,933	USD	82,800	5/3/2024	HUB		133		—			133
BRL	96,107	USD	95,740	5/3/2024	HUB		367		—			367
BRL	96,107	USD	95,768	5/3/2024	HUB		339		—			339
BRL	109,418	USD	108,732	5/3/2024	HUB		686		—			686
BRL	182,949	USD	182,683	5/3/2024	HUB		266		—			266
USD	19,857	BRL	19,877	5/3/2024	HUB		—		(20	)		(20	)
USD	19,890	BRL	19,877	5/3/2024	HUB		13		—			13
USD	452,254	KRW	446,616	5/10/2024	HUB		5,638		—			5,638
USD	70,199	CNY	69,470	5/14/2024	HUB		729		—			729
USD	44,288	PHP	44,434	5/22/2024	HUB		—		(146	)		(146	)
USD	44,369	PHP	44,434	5/22/2024	HUB		—		(65	)		(65	)
USD	44,407	PHP	44,434	5/22/2024	HUB		—		(27	)		(27	)
USD	44,337	PHP	44,434	5/22/2024	HUB		—		(97	)		(97	)
USD	44,397	PHP	44,434	5/22/2024	HUB		—		(37	)		(37	)
USD	24,907	PHP	24,956	5/22/2024	HUB		—		(49	)		(49	)
USD	19,441	PHP	19,478	5/22/2024	HUB		—		(37	)		(37	)
COP	9,747	USD	9,492	5/30/2024	HUB		255		—			255
COP	16,083	USD	15,684	5/30/2024	HUB		399		—			399
COP	25,420	USD	24,756	5/30/2024	HUB		664		—			664
CLP	50,951	USD	52,704	5/30/2024	HUB		—		(1,753	)		(1,753	)
CLP	50,951	USD	52,830	5/30/2024	HUB		—		(1,879	)		(1,879	)
USD	107,655	CLP	105,648	5/30/2024	HUB		2,007		—			2,007
USD	82,723	CLP	81,109	5/30/2024	HUB		1,614		—			1,614
USD	69,285	CLP	67,998	5/30/2024	HUB		1,287		—			1,287
USD	51,920	CLP	50,951	5/30/2024	HUB		969		—			969
USD	51,556	CLP	50,951	5/30/2024	HUB		605		—			605
USD	51,534	CLP	50,951	5/30/2024	HUB		583		—			583
USD	51,556	CLP	50,951	5/30/2024	HUB		605		—			605
USD	51,270	CLP	50,951	5/30/2024	HUB		319		—			319
USD	51,244	CLP	50,951	5/30/2024	HUB		293		—			293
USD	50,983	CLP	50,951	5/30/2024	HUB		32		—			32
USD	50,718	CLP	50,951	5/30/2024	HUB		—		(233	)		(233	)
USD	50,940	CLP	50,951	5/30/2024	HUB		—		(11	)		(11	)
USD	50,756	CLP	50,951	5/30/2024	HUB		—		(195	)		(195	)
USD	50,779	CLP	50,951	5/30/2024	HUB		—		(172	)		(172	)
USD	38,655	CLP	38,234	5/30/2024	HUB		421		—			421
USD	6,543	CLP	6,480	5/30/2024	HUB		63		—			63
USD	6,298	CLP	6,237	5/30/2024	HUB		61		—			61
PEN	67,160	USD	67,676	5/6/2024	RBS		—		(516	)		(516	)

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024 (continued):


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
PEN	67,160	USD	67,438	5/6/2024	RBS	$	—	$	(278	)	$	(278	)
USD	64,730	PEN	67,160	5/6/2024	RBS		—		(2,430	)		(2,430	)
USD	1,203,398	GBP	1,187,756	4/18/2024	SSB		15,642		—			15,642
USD	577,729	EUR	569,960	4/18/2024	SSB		7,769		—			7,769

						$	101,739	$	(46,729	)	$	55,010

*	All values denominated in USD.

Glossary:

Counterparty Abbreviations:


CBK		Citibank, N.A.
HUB		HSBC Bank PLC
JPM		JPMorgan Securities LLC.
RBS		Royal Bank Of Scotland PLC
SSB		State Street Bank & Trust Co.

Currency Abbreviations:


AUD		Australian Dollar
BRL		Brazilian Real
CLP		Chilean Peso
CNY		Chinese Yuan
COP		Colombian Peso
EUR		Euro
GBP		British Pound
INR		Indian Rupee
JPY		Japanese Yen
KRW		South Korean Won
PEN		Peruvian Nuevo Sol
PHP		Philippine Peso
TWD		Taiwan Dollar
USD		United States Dollar

Index Abbreviations:


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

Exchange Abbreviations:


ASX		Australian Securities Exchange.
CME		Chicago Mercantile Exchange.
Eurex		European derivatives exchange.
Euronext		European New Exchange Technology.
FinEx		Financial Instruments Exchange.

See accompanying notes

American Beacon AHL Multi-Alternatives Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)


HKG		Hong Kong Exchange.
JSE		Johannesburg Stock Exchange.
KFE		Korean Exchange.
LME		London Metal Exchange.
ICE		Intercontinental Exchange.
NSE		National Stock Exchange.
NYMEX		New York Mercantile Exchange
OML		OMLX:London Securities & Derivative Exchange.
SAFEX		South African Futures Exchange.
SFE		Sydney Futures Exchange.
SGX		Singapore Stock Exchange.
TSE		Tokyo Stock Exchange.

Other Abbreviations:


BTP		Buoni del Tesoro Poliennali.
Bobl		Medium term debt that is issued by the Federal Republic of Germany.
Bund		German Federal Government Bond.
Buxl		Long term debt that is issued by the Federal Republic of Germany.
CDX		Credit Default Swap Index.
COMEX		The Commodity Exchange Inc.
CBOT		Chicago Board of Trade.
CSC		CEI: Coffee, Sugar and Cocoa
ESG		Environmental, Social, Governance.
EURIBOR		Euro Interbank Offered Rate.
GILT		Bank of England Bonds.
IFSC		International Financial Services Centre.
KCBT		The Kansas City Board of Trade.
LIBOR		London Interbank Offered Rate.
NYBOT		New York Board of Trade.
OAT		Obligations Assimilables du Trésor.
OTC		Over-the-Counter.
RBOB		Reformulated Gasoline Blendstock for Oxygen Blending.
SCHATZ		Short-dated equivalent of the Bobl and Bund futures.
SOFR		Secured Overnight Financing Rate.
SONIA		Sterling Overnight Index Average.

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


AHL Multi-Alternatives Fund	Level 1			Level 2			Level 3		Total
*Assets*
Foreign Sovereign Obligations	$	—		$	1,778,087		$	—	$	1,778,087
U.S. Treasury Obligations		—			2,006,840			—		2,006,840
Short-Term Investments		—			26,385,156			—		26,385,156

Total Investments in Securities - Assets	$	—		$	30,170,083		$	—	$	30,170,083

*Financial Derivative Instruments - Assets*
Futures Contracts	$	1,162,892		$	—		$	—	$	1,162,892
Swap Contract Agreements		—			62,296			—		62,296
Forward Foreign Currency Contracts		—			101,739			—		101,739

Total Financial Derivative Instruments - Assets	$	1,162,892		$	164,035		$	—	$	1,326,927

*Financial Derivative Instruments - Liabilities*
Futures Contracts	$	(198,031	)	$	—		$	—	$	(198,031	)
Forward Foreign Currency Contracts		—			(46,729	)		—		(46,729	)

Total Financial Derivative Instruments - Liabilities	$	(198,031	)	$	(46,729	)	$	—	$	(244,760	)

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

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)


	Principal Amount*			Fair Value
FOREIGN SOVEREIGN OBLIGATIONS - 8.75%
French Republic Government Bonds OAT,
0.600%, Due 7/25/2034^{A B C}		EUR	2,665,625	$	2,886,082
0.100%, Due 7/25/2031, Series OATE^{A B C}		EUR	3,520,410		3,719,763
U.K. Inflation-Linked Gilts, 0.125%, Due 8/10/2031, Series 3MO^{A B}		GBP	3,218,900		4,089,954
1.250%, Due 11/22/2032^{A B}		GBP	8,705,100		12,008,703
0.125%, Due 3/22/2051^{A B}		GBP	1,928,010		1,866,493

Total Foreign Sovereign Obligations (Cost $23,817,274)					24,570,995

U.S. TREASURY OBLIGATIONS - 12.43%
U.S. Treasury Inflation-Indexed Bonds, 1.500%, Due 2/15/2053^A		$	2,074,740		1,816,604
U.S. Treasury Inflation-Indexed Notes,
1.250%, Due 4/15/2028^A			2,056,100		1,998,821
2.375%, Due 10/15/2028^A			14,094,640		14,433,361
1.375%, Due 7/15/2033^A			14,722,285		14,150,340
1.750%, Due 1/15/2034^A			2,507,900		2,479,646

Total U.S. Treasury Obligations (Cost $34,312,875)					34,878,772

SHORT-TERM INVESTMENTS - 63.56%
U.S. Treasury Obligations - 63.56%
U.S. Treasury Bills,
5.458%, Due 4/4/2024^D			8,000,000		7,996,539
5.460%, Due 5/2/2024^D			61,000,000		60,722,679
5.415%, Due 5/9/2024^D			12,000,000		11,933,260
5.317%, Due 6/6/2024^D			47,000,000		46,550,425
5.311%, Due 6/20/2024^D			12,000,000		11,860,893
5.288%, Due 7/25/2024			40,000,000		39,342,009

Total Short-Term Investments (Cost $178,420,654)					178,405,805

TOTAL INVESTMENTS - 84.74% (Cost $236,550,803)					237,855,572
OTHER ASSETS, NET OF LIABILITIES - 15.26%					42,826,140

TOTAL NET ASSETS - 100.00%				$	280,681,712

Percentages are stated as a percent of net assets.

*	In U.S. Dollars unless otherwise noted.

^A	Inflation-Indexed Note.

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 $6,605,845 or 2.35% of net assets. The Fund has no right to demand registration of these securities.

^D	All or a portion represents positions held by the American Beacon Cayman American Beacon Cayman TargetRisk Co., Ltd.

Long Futures Contracts Open on March 31, 2024:

Equity Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
Borsa Italiana FTSE/MIB Index Futures	39	June 2024	$	6,909,108	$	7,197,164	$	288,056
CME E-Mini NASDAQ 100 Index Futures	41	June 2024		15,006,639		15,149,500		142,861
CME E-Mini Standard & Poor’s 500 Index Futures	123	June 2024		31,934,036		32,647,275		713,239
CME E-Mini S&P 500 ESG Index Futures	3	June 2024		685,503		703,470		17,967

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 31, 2024 (continued):

Equity Futures Contracts (continued)


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
Eurex DAX Index Futures	19	June 2024	$	9,259,393	$	9,621,831	$	362,438
Eurex EURO STOXX 50 Index Futures	272	June 2024		14,372,375		14,804,410		432,035
Eurex STOXX Europe 600 ESG-X Index Futures	19	June 2024		381,912		389,260		7,348
Euronext CAC 40 10 Index Futures	90	April 2024		7,811,603		7,984,730		173,127
HKG Hang Seng China Enterprises Index Futures	120	April 2024		4,469,057		4,456,937		(12,120	)
HKG Hang Seng Index Futures	49	April 2024		5,217,781		5,186,792		(30,989	)
ICE FTSE 100 Index Futures	178	June 2024		17,320,287		17,946,053		625,766
KFE KOSPI 200 Index Futures	122	June 2024		8,229,484		8,540,000		310,516
Montreal Exchange S&P/TSX 60 Index Futures	98	June 2024		19,088,994		19,409,723		320,729
NSE IFSC NIFTY 50 Index Futures	24	April 2024		1,070,957		1,079,424		8,467
OML Stockholm OMXS30 Index Futures	337	April 2024		7,773,528		7,948,024		174,496
SAFEX FTSE/JSE Top 40 Index Futures	53	June 2024		1,870,766		1,928,791		58,025
SFE S&P ASX Share Price Index 200 Futures	103	June 2024		12,989,261		13,341,769		352,508
SGX FTSE China A50 Futures	511	April 2024		6,206,174		6,194,853		(11,321	)
SGX FTSE Taiwan Index Futures	59	April 2024		4,065,223		4,112,300		47,077
SGX MSCI Singapore Index Futures	159	April 2024		3,437,669		3,440,829		3,160
SGX Nikkei 225 Stock Index Futures	93	June 2024		12,250,026		12,446,690		196,664
TSE TOPIX Futures	109	June 2024		19,428,093		19,945,171		517,078

			$	209,777,869	$	214,474,996	$	4,697,127

Interest Rate Futures Contracts


Description	Number of Contracts	Expiration Date	Notional Amount		Contract Value		Unrealized Appreciation (Depreciation)
CBOT 2 Year U.S. Treasury Notes Futures	44	June 2024	$	9,007,239	$	8,997,313	$	(9,926	)
CBOT 5 Year U.S. Treasury Notes Futures	138	June 2024		14,755,448		14,768,156		12,708
CBOT 10 Year U.S. Treasury Notes Futures	141	June 2024		15,579,635		15,622,359		42,724
CBOT U.S. Long Bond Futures	93	June 2024		11,062,182		11,200,688		138,506
CBOT Ultra Long Term U.S. Treasury Bond Futures	115	June 2024		14,734,518		14,835,000		100,482
Eurex 10 Year Euro BUND Futures	82	June 2024		11,707,024		11,799,554		92,530
Eurex 30 Year Euro BUXL Futures	13	June 2024		1,873,364		1,904,602		31,238
Eurex 5 Year Euro BOBL Futures	84	June 2024		10,680,143		10,716,216		36,073
Eurex Euro-BTP Italian Bond Futures	85	June 2024		10,764,376		10,913,484		149,108
French Government Bonds Futures	75	June 2024		10,325,382		10,370,714		45,332
ICE Long Gilt Futures	69	June 2024		8,502,439		8,703,608		201,169
KFE 3 Year Treasury Bond Futures	66	June 2024		5,136,447		5,136,847		400
KFE 10 Year Treasury Bond Futures	38	June 2024		3,194,636		3,200,609		5,973
Montreal Exchange 10 Year Canadian Bond Futures	72	June 2024		6,359,622		6,396,575		36,953
SFE 3 Year Australian Bond Futures	81	June 2024		5,635,805		5,643,320		7,515
SFE 10 Year Australian Bond Futures	107	June 2024		8,105,945		8,128,430		22,485
TSE Japanese 10 Year Bond Futures	30	June 2024		28,850,114		28,868,411		18,297

			$	176,274,319	$	177,205,886	$	931,567

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Centrally Cleared Swap Agreements Outstanding on March 31, 2024:

Credit Default Swaps on Credit Indices - Buy Protection⁽¹⁾


Index/Tranches	Fixed Rate (%)		Payment Frequency	Expiration Date		Implied Credit Spread at 3/31/2024⁽³⁾ (%)		Curr	Notional Amount⁽⁴⁾ (000s)		Premiums Paid (Received)			Fair Value⁽⁵⁾			Unrealized Appreciation (Depreciation)
CDX.NA.HY.S41		5.00	Quarterly		12/20/2028		3.1179	USD	$	4,950	$	(354,420	)	$	(369,071	)	$	(14,651	)
CDX.NA.HY.S41		5.00	Quarterly		12/20/2028		3.1179	USD		4,950		(358,207	)		(369,071	)		(10,864	)
CDX.NA.HY.S41		5.00	Quarterly		12/20/2028		5.0000	USD		4,950		(370,384	)		(376,572	)		(6,188	)
CDX.NA.HY.S41		5.00	Quarterly		12/20/2028		5.0000	USD		4,950		(369,889	)		(376,077	)		(6,188	)

											$	(1,452,900	)	$	(1,490,791	)	$	(37,891	)

Credit Default Swaps on Credit Indices - Sell Protection⁽²⁾


Index/Tranches	Fixed Rate (%)		Payment Frequency	Expiration Date		Implied Credit Spread at 3/31/2024⁽³⁾ (%)		Curr	Notional Amount⁽⁴⁾ (000s)		Premiums Paid (Received)		Fair Value⁽⁵⁾		Unrealized Appreciation (Depreciation)
CDX.NA.HY.S41		5.00	Quarterly		12/20/2028		3.1191	USD	$	34,650	$	2,328,539	$	2,602,746	$	274,207
CDX.NA.HY.S42		5.00	Quarterly		6/20/2029		3.2882	USD		5,000		350,000		365,965		15,965
CDX.NA.HY.S42		5.00	Quarterly		6/20/2029		3.2882	USD		5,000		354,000		365,965		11,965
CDX.NA.HY.S42		5.00	Quarterly		6/20/2029		3.2626	USD		5,000		366,625		372,875		6,250
CDX.NA.HY.S42		5.00	Quarterly		6/20/2029		3.2626	USD		5,000		366,125		372,375		6,250
CDX.NA.IG.S42		1.00	Quarterly		6/20/2029		0.5144	USD		80,000		1,799,519		1,826,185		26,666
iTraxx Europe S41		1.00	Quarterly		6/20/2029		0.5429	EUR		65,000		1,545,461		1,567,190		21,729
iTraxx Europe Crossover S41		5.00	Quarterly		6/20/2029		2.9746	EUR		25,000		2,378,183		2,420,602		42,419

											$	9,488,452	$	9,893,903	$	405,451

OTC Swap Agreements Outstanding on March 31, 2024:

Total Return Swap Agreements


Pay/Receive Floating Rate	Description	Reference Entity	Counter- party	Floating Rate			Payment Frequency		Expiration Date	Reference Quantity		Notional Amount		Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Pay	1-Month USD-LIBOR	BBUXALC INDEX	JPM		0.000	%		Maturity	4/5/2024		575,000	$	71,155,752	$	—	$	919,750

														$	—	$	919,750

⁽¹⁾

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

⁽²⁾

⁽³⁾

⁽⁴⁾	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

⁽⁵⁾

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Forward Foreign Currency Contracts Open on March 31, 2024:


Currency Purchased*		Currency Sold*		Settlement Date	Counterparty	Unrealized Appreciation		Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)
SGD	166,064	USD	166,808	4/18/2024	SSB	$	—	$	(744	)	$	(744	)
EUR	215,899	USD	218,460	4/18/2024	SSB		—		(2,561	)		(2,561	)
HKD	279,364	USD	279,566	4/18/2024	SSB		—		(202	)		(202	)
CAD	295,374	USD	297,453	4/18/2024	SSB		—		(2,079	)		(2,079	)
GBP	315,563	USD	316,293	4/18/2024	SSB		—		(730	)		(730	)
EUR	323,848	USD	327,047	4/18/2024	SSB		—		(3,199	)		(3,199	)
EUR	323,848	USD	328,121	4/18/2024	SSB		—		(4,273	)		(4,273	)
AUD	325,964	USD	332,326	4/18/2024	SSB		—		(6,362	)		(6,362	)
EUR	431,797	USD	434,064	4/18/2024	SSB		—		(2,267	)		(2,267	)
SEK	437,458	USD	446,594	4/18/2024	SSB		—		(9,136	)		(9,136	)
HKD	642,368	USD	642,973	4/18/2024	SSB		—		(605	)		(605	)
JPY	662,203	USD	663,234	4/18/2024	SSB		—		(1,031	)		(1,031	)
CAD	672,345	USD	676,032	4/18/2024	SSB		—		(3,687	)		(3,687	)
JPY	979,835	USD	979,099	4/18/2024	SSB		736		—			736
USD	18,662,779	GBP	18,420,199	4/18/2024	SSB		242,580		—			242,580
USD	12,788,676	EUR	12,616,699	4/18/2024	SSB		171,977		—			171,977
USD	2,272,223	EUR	2,239,947	4/18/2024	SSB		32,276		—			32,276
USD	2,209,975	CAD	2,194,631	4/18/2024	SSB		15,344		—			15,344
USD	2,197,024	JPY	2,191,215	4/18/2024	SSB		5,809		—			5,809
USD	2,114,840	KRW	2,084,952	4/18/2024	SSB		29,888		—			29,888
USD	1,174,179	GBP	1,163,151	4/18/2024	SSB		11,028		—			11,028
USD	768,782	JPY	746,216	4/18/2024	SSB		22,566		—			22,566
USD	516,940	JPY	501,801	4/18/2024	SSB		15,139		—			15,139
USD	397,706	EUR	395,704	4/18/2024	SSB		2,002		—			2,002
USD	388,039	EUR	382,529	4/18/2024	SSB		5,510		—			5,510
USD	258,505	EUR	256,257	4/18/2024	SSB		2,248		—			2,248
USD	168,814	JPY	164,537	4/18/2024	SSB		4,277		—			4,277
USD	150,479	HKD	150,336	4/18/2024	SSB		143		—			143
USD	142,293	EUR	140,674	4/18/2024	SSB		1,619		—			1,619
USD	137,364	AUD	136,204	4/18/2024	SSB		1,160		—			1,160
USD	116,869	JPY	116,702	4/18/2024	SSB		167		—			167
USD	112,616	HKD	112,541	4/18/2024	SSB		75		—			75
USD	79,434	JPY	77,456	4/18/2024	SSB		1,978		—			1,978
USD	76,007	EUR	75,564	4/18/2024	SSB		443		—			443
USD	59,130	AUD	58,673	4/18/2024	SSB		457		—			457
USD	51,603	CAD	51,691	4/18/2024	SSB		—		(88	)		(88	)
USD	48,110	HKD	48,078	4/18/2024	SSB		32		—			32
USD	43,609	EUR	43,180	4/18/2024	SSB		429		—			429
USD	40,515	JPY	39,326	4/18/2024	SSB		1,189		—			1,189
USD	22,193	CAD	22,153	4/18/2024	SSB		40		—			40
USD	22,156	CAD	22,153	4/18/2024	SSB		3		—			3
USD	21,805	EUR	21,590	4/18/2024	SSB		215		—			215
USD	18,001	ZAR	18,034	4/18/2024	SSB		—		(33	)		(33	)
USD	18,308	JPY	17,846	4/18/2024	SSB		462		—			462
USD	16,724	ZAR	16,460	4/18/2024	SSB		264		—			264
USD	14,307	ZAR	14,368	4/18/2024	SSB		—		(61	)		(61	)
USD	13,212	AUD	13,039	4/18/2024	SSB		173		—			173
USD	12,687	GBP	12,623	4/18/2024	SSB		64		—			64
USD	11,511	HKD	11,505	4/18/2024	SSB		6		—			6
USD	7,849	ZAR	7,815	4/18/2024	SSB		34		—			34

						$	570,333	$	(37,058	)	$	533,275

*	All values denominated in USD.

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)

Glossary:

Counterparty Abbreviations:


JPM		JPMorgan Securities LLC
SSB		State Street Bank & Trust Co.

Currency Abbreviations:


AUD		Australian Dollar
CAD		Canadian Dollar
EUR		Euro
GBP		Pound Sterling
HKD		Hong Kong Dollar
JPY		Japanese Yen
KRW		South Korean Won
SEK		Swedish Krona
SGD		Singapore Dollar
USD		United States Dollar
ZAR		South African Rand

Index Abbreviations:


BBUXALC		Bloomberg Commodity ex-Agriculture and Livestock Capped Index.
CAC 40		Euronet Paris - French Stock Market Index.
DAX		Deutsche Boerse AG German Stock Index.
Euronext		European New Exchange Technology.
Euro Stoxx 50		Eurozone Blue-chip Index.
FTSE 100		Financial Times Stock Exchange 100 Index.
FTSE China A50		Financial Times Stock Exchange China A50 Index.
FTSE/JSE Top 40		Largest 40 companies ranked by full market value in the FTSE/JSE All-Share Index.
FTSE/MIB		Borsa Italiana-Italian Stock Market Index.
Hang Seng		Hong Kong Stock Market Index.
KOSPI		South Korean Stock Market Index.
MSCI		Morgan Stanley Capital International.
NASDAQ		National Association of Securities Dealers Automated Quotations.
Nifty 50		National stock exchange FIFTY.
NIKKEI 225		Nikkei Stock Average.
OMXS30		Stockholm Stock Exchange’s leading share index.
S&P 500		S&P 500 Index - U.S. Equity Large-Cap Index.
S&P/TSX		Canadian Equity Market Index.
SGX NIFTY		Singapore Stock Exchange NIFTY.
Stoxx Europe 600		Europe Total Market Index.
TOPIX		Tokyo Stock Exchange Tokyo Price Index.

Exchange Abbreviations:


ASX		Australian Securities Exchange.
CME		Chicago Mercantile Exchange.
Eurex		European derivatives exchange.
HKG		Hong Kong Exchange.
JSE		Johannesburg Stock Exchange.
ICE		Intercontinental Exchange.
KFE		Korean Exchange.
NSE		National Stock Exchange.
OML		OMLX:London Securities & Derivative Exchange.
SAFEX		South African Futures Exchange.
SFE		Sydney Futures Exchange.
SGX		Singapore Stock Exchange.
TSE		Tokyo Stock Exchange.

Other Abbreviations:


BTP
BTP		Buoni del Tesoro Poliennali.
Bobl		Medium term debt that is issued by the Federal Republic of Germany.
Bund		German Federal Government Bond.
Buxl		Long term debt that is issued by the Federal Republic of Germany.
CBOT		Chicago Board of Trade.
CDX		Credit Default Swap Index.
ESG		Environmental, Social, Governance.

See accompanying notes

American Beacon AHL TargetRisk Fund^SM

Consolidated Schedule of Investments

March 31, 2024 (Unaudited)


GILT		Bank of England Bonds.
IFSC		International Financial Services Centre Missing.
iTraxx		Credit Default Swap Index.
LIBOR		London Interbank Offered Rate.
OAT		Obligations Assimilables du Trésor.
OTC		Over-the-Counter.

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


AHL TargetRisk Fund	Level 1			Level 2			Level 3		Total
*Assets*
Foreign Sovereign Obligations	$	—		$	24,570,995		$	—	$	24,570,995
U.S. Treasury Obligations		—			34,878,772			—		34,878,772
Short-Term Investments		—			178,405,805			—		178,405,805

Total Investments in Securities - Assets	$	—		$	237,855,572		$	—	$	237,855,572

*Financial Derivative Instruments - Assets*
Futures Contracts	$	5,693,050		$	—		$	—	$	5,693,050
Swap Contract Agreements		—			1,325,201			—		1,325,201
Forward Foreign Currency Contracts		—			570,333			—		570,333

Total Financial Derivative Instruments - Assets	$	5,693,050		$	1,895,534		$	—	$	7,588,584

*Financial Derivative Instruments - Liabilities*
Futures Contracts	$	(64,356	)	$	—		$	—	$	(64,356	)
Swap Contract Agreements		—			(37,891	)		—		(37,891	)
Forward Foreign Currency Contracts		—			(37,058	)		—		(37,058	)

Total Financial Derivative Instruments - Liabilities	$	(64,356	)	$	(74,949	)	$	—	$	(139,305	)

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

See accompanying notes

American Beacon Bridgeway Large Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 96.81%
Communication Services - 8.94%
Entertainment - 2.51%
Netflix, Inc.^A		8,300	$	5,040,839

Interactive Media & Services - 6.43%
Alphabet, Inc., Class A^A		70,200		10,595,286
Pinterest, Inc., Class A^A		67,400		2,336,758

				12,932,044

Total Communication Services				17,972,883

Consumer Discretionary - 12.24%
Broadline Retail - 5.06%
Amazon.com, Inc.^A		56,400		10,173,432

Hotels, Restaurants & Leisure - 5.96%
Airbnb, Inc., Class A^A		24,500		4,041,520
Booking Holdings, Inc.		1,480		5,369,262
Marriott International, Inc., Class A		10,200		2,573,562

				11,984,344

Specialty Retail - 0.64%
Lowe’s Cos., Inc.		5,100		1,299,123

Textiles, Apparel & Luxury Goods - 0.58%
Lululemon Athletica, Inc.^A		3,000		1,171,950

Total Consumer Discretionary				24,628,849

Consumer Staples - 4.69%
Consumer Staples Distribution & Retail - 4.69%
Costco Wholesale Corp.		6,500		4,762,095
Target Corp.		26,400		4,678,344

				9,440,439

Total Consumer Staples				9,440,439

Energy - 4.09%
Oil, Gas & Consumable Fuels - 4.09%
Antero Resources Corp.^A		25,900		751,100
HF Sinclair Corp.		14,700		887,439
Valero Energy Corp.		38,600		6,588,634

				8,227,173

Total Energy				8,227,173

Financials - 10.14%
Banks - 3.08%
First Citizens BancShares, Inc., Class A		500		817,500
JPMorgan Chase & Co.		26,800		5,368,040

				6,185,540

Financial Services - 5.11%
Mastercard, Inc., Class A		16,600		7,994,062
Visa, Inc., Class A		8,200		2,288,456

				10,282,518

See accompanying notes

American Beacon Bridgeway Large Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 96.81% (continued)
Financials - 10.14% (continued)
Insurance - 1.95%
Arch Capital Group Ltd.^A		42,400	$	3,919,456

Total Financials				20,387,514

Health Care - 8.83%
Health Care Equipment & Supplies - 0.86%
Contra ABIOMED, Inc.^{A B C}		4,500		—
IDEXX Laboratories, Inc.^A		3,200		1,727,776

				1,727,776

Health Care Providers & Services - 4.55%
DaVita, Inc.^A		8,500		1,173,425
HCA Healthcare, Inc.		10,400		3,468,712
McKesson Corp.		8,400		4,509,540

				9,151,677

Health Care Technology - 1.58%
Veeva Systems, Inc., Class A^A		13,700		3,174,153

Pharmaceuticals - 1.84%
Zoetis, Inc.		21,900		3,705,699

Total Health Care				17,759,305

Industrials - 5.91%
Ground Transportation - 3.48%
Uber Technologies, Inc.^A		91,100		7,013,789

Machinery - 1.64%
Caterpillar, Inc.		9,000		3,297,870

Trading Companies & Distributors - 0.79%
United Rentals, Inc.		2,200		1,586,442

Total Industrials				11,898,101

Information Technology - 39.99%
Electronic Equipment, Instruments & Components - 0.35%
Jabil, Inc.		5,200		696,540

IT Services - 1.36%
Accenture PLC, Class A		5,700		1,975,677
Snowflake, Inc., Class A^A		4,700		759,520

				2,735,197

Semiconductors & Semiconductor Equipment - 13.48%
Applied Materials, Inc.		14,500		2,990,335
Broadcom, Inc.		3,900		5,169,099
KLA Corp.		8,500		5,937,845
Lam Research Corp.		1,200		1,165,884
Lattice Semiconductor Corp.^A		18,700		1,462,901
NVIDIA Corp.		11,500		10,390,940

				27,117,004

Software - 20.37%
Adobe, Inc.^A		9,200		4,642,320
AppLovin Corp., Class A^A		19,900		1,377,478
Atlassian Corp., Class A^A		15,900		3,102,249
Autodesk, Inc.^A		4,600		1,197,932

See accompanying notes

American Beacon Bridgeway Large Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 96.81% (continued)
Information Technology - 39.99% (continued)
Software - 20.37% (continued)
Cadence Design Systems, Inc.^A		15,100	$	4,700,328
Crowdstrike Holdings, Inc., Class A^A		12,800		4,103,552
Datadog, Inc., Class A^A		8,900		1,100,040
Elastic NV^A		7,700		771,848
Fortinet, Inc.^A		55,600		3,798,036
Microsoft Corp.		24,600		10,349,712
Palo Alto Networks, Inc.^A		17,700		5,029,101
Zscaler, Inc.^A		4,200		809,046

				40,981,642

Technology Hardware, Storage & Peripherals - 4.43%
Apple, Inc.		52,000		8,916,960

Total Information Technology				80,447,343

Materials - 1.98%
Chemicals - 1.46%
CF Industries Holdings, Inc.		19,700		1,639,237
Mosaic Co.		40,100		1,301,646

				2,940,883

Metals & Mining - 0.52%
Nucor Corp.		5,300		1,048,870

Total Materials				3,989,753

Total Common Stocks (Cost $134,735,433)				194,751,360

FOREIGN COMMON STOCKS - 0.41% (Cost $711,021)
Financials - 0.41%
Insurance - 0.41%
RenaissanceRe Holdings Ltd.		3,500		822,605

SHORT-TERM INVESTMENTS - 2.74% (Cost $5,506,439)
Investment Companies - 2.74%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{D E}		5,506,439		5,506,439

TOTAL INVESTMENTS - 99.96% (Cost $140,952,893)				201,080,404
OTHER ASSETS, NET OF LIABILITIES - 0.04%				73,673

TOTAL NET ASSETS - 100.00%			$	201,154,077

Percentages are stated as a percent of net assets.

^A	Non-income producing security.

^B	Value was determined using significant unobservable inputs.

^C	Security has been fair valued pursuant to the Manager’s procedures related to pricing that is not available after the close of exchange or the available price does not reflect the security’s true market value. At period end, the value of these securities amounted to $0 or 0.00% of net assets.

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

^E	7-day yield.

PLC - Public Limited Company.

See accompanying notes

American Beacon Bridgeway Large Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 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		22	June 2024	$	5,745,312	$	5,839,350	$	94,038

				$	5,745,312	$	5,839,350	$	94,038

Index Abbreviations:


CME		Chicago Mercantile Exchange.

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


Bridgeway Large Cap Growth Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	194,751,360	$	—	$	—	$	194,751,360
Foreign Common Stocks		822,605		—		—		822,605
Short-Term Investments		5,506,439		—		—		5,506,439

Total Investments in Securities - Assets	$	201,080,404	$	—	$	—	$	201,080,404

*Financial Derivative Instruments - Assets*
Futures Contracts	$	94,038	$	—	$	—	$	94,038

Total Financial Derivative Instruments - Assets	$	94,038	$	—	$	—	$	94,038

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

See accompanying notes

American Beacon Bridgeway Large Cap Value Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 97.17%
Communication Services - 2.09%
Diversified Telecommunication Services - 0.72%
AT&T, Inc.		124,800	$	2,196,480

Entertainment - 0.71%
Electronic Arts, Inc.		16,200		2,149,254

Wireless Telecommunication Services - 0.66%
T-Mobile U.S., Inc.		12,200		1,991,284

Total Communication Services				6,337,018

Consumer Discretionary - 8.65%
Automobiles - 0.74%
General Motors Co.		49,400		2,240,290

Broadline Retail - 0.96%
eBay, Inc.		36,400		1,921,192
Etsy, Inc.^A		14,600		1,003,312

				2,924,504

Hotels, Restaurants & Leisure - 3.99%
Expedia Group, Inc.^A		14,100		1,942,275
McDonald’s Corp.		8,800		2,481,160
MGM Resorts International^A		92,800		4,381,088
Royal Caribbean Cruises Ltd.^A		23,700		3,294,537

				12,099,060

Household Durables - 0.92%
Toll Brothers, Inc.		21,600		2,794,392

Specialty Retail - 2.04%
O’Reilly Automotive, Inc.^A		5,500		6,208,840

Total Consumer Discretionary				26,267,086

Consumer Staples - 7.84%
Beverages - 3.90%
Coca-Cola Co.		119,800		7,329,364
PepsiCo, Inc.		25,800		4,515,258

				11,844,622

Consumer Staples Distribution & Retail - 2.41%
Walmart, Inc.		121,800		7,328,706

Food Products - 1.53%
General Mills, Inc.		37,600		2,630,872
Hershey Co.		10,300		2,003,350

				4,634,222

Total Consumer Staples				23,807,550

Energy - 12.79%
Oil, Gas & Consumable Fuels - 12.79%
Antero Resources Corp.^A		88,100		2,554,900
APA Corp.		32,700		1,124,226
Chesapeake Energy Corp.		34,300		3,046,869
HF Sinclair Corp.		35,000		2,112,950
Marathon Oil Corp.		125,000		3,542,500
Marathon Petroleum Corp.		38,000		7,657,000
Ovintiv, Inc.		74,400		3,861,360

See accompanying notes

American Beacon Bridgeway Large Cap Value Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 97.17% (continued)
Energy - 12.79% (continued)
Oil, Gas & Consumable Fuels - 12.79% (continued)
Phillips 66		36,000	$	5,880,240
Pioneer Natural Resources Co.		15,900		4,173,750
Valero Energy Corp.		28,600		4,881,734

				38,835,529

Total Energy				38,835,529

Financials - 22.04%
Banks - 3.62%
Citigroup, Inc.		14,800		935,952
Citizens Financial Group, Inc.		84,100		3,051,989
JPMorgan Chase & Co.		34,900		6,990,470

				10,978,411

Capital Markets - 3.51%
CME Group, Inc.		17,000		3,659,930
Goldman Sachs Group, Inc.		2,100		877,149
Jefferies Financial Group, Inc.		71,000		3,131,100
State Street Corp.		38,600		2,984,552

				10,652,731

Consumer Finance - 5.94%
Ally Financial, Inc.		149,700		6,076,323
Capital One Financial Corp.		38,500		5,732,265
Synchrony Financial		144,200		6,217,904

				18,026,492

Financial Services - 3.51%
Berkshire Hathaway, Inc., Class B^A		25,300		10,639,156

Insurance - 5.46%
Fidelity National Financial, Inc.		52,100		2,766,510
MetLife, Inc.		74,600		5,528,606
Principal Financial Group, Inc.		26,300		2,269,953
Progressive Corp.		7,300		1,509,786
Unum Group		84,100		4,512,806

				16,587,661

Total Financials				66,884,451

Health Care - 11.51%
Biotechnology - 2.49%
Amgen, Inc.		16,600		4,719,712
Biogen, Inc.^A		5,200		1,121,276
Vertex Pharmaceuticals, Inc.^A		4,100		1,713,841

				7,554,829

Health Care Equipment & Supplies - 0.89%
Becton Dickinson & Co.		1,700		420,665
Boston Scientific Corp.^A		33,000		2,260,170

				2,680,835

Health Care Providers & Services - 3.00%
CVS Health Corp.		27,200		2,169,472
Elevance Health, Inc.		4,700		2,437,138
UnitedHealth Group, Inc.		9,100		4,501,770

				9,108,380

Life Sciences Tools & Services - 2.74%
Agilent Technologies, Inc.		9,400		1,367,794
Charles River Laboratories International, Inc.^A		18,400		4,985,480

See accompanying notes

American Beacon Bridgeway Large Cap Value Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 97.17% (continued)
Health Care - 11.51% (continued)
Life Sciences Tools & Services - 2.74% (continued)
IQVIA Holdings, Inc.^A		7,800	$	1,972,542

				8,325,816

Pharmaceuticals - 2.39%
Johnson & Johnson		32,000		5,062,080
Pfizer, Inc.		79,000		2,192,250

				7,254,330

Total Health Care				34,924,190

Industrials - 11.65%
Aerospace & Defense - 2.03%
RTX Corp.		63,200		6,163,896

Building Products - 2.40%
Builders FirstSource, Inc.^A		35,000		7,299,250

Electrical Equipment - 1.91%
Vertiv Holdings Co.		70,800		5,782,236

Ground Transportation - 2.51%
Avis Budget Group, Inc.		26,800		3,281,928
Norfolk Southern Corp.		17,000		4,332,790

				7,614,718

Passenger Airlines - 0.75%
Delta Air Lines, Inc.		47,500		2,273,825

Professional Services - 2.05%
Automatic Data Processing, Inc.		24,900		6,218,526

Total Industrials				35,352,451

Information Technology - 10.41%
Communications Equipment - 1.83%
Cisco Systems, Inc.		111,300		5,554,983

Electronic Equipment, Instruments & Components - 0.76%
Keysight Technologies, Inc.^A		14,800		2,314,424

IT Services - 1.16%
VeriSign, Inc.^A		18,600		3,524,886

Semiconductors & Semiconductor Equipment - 1.58%
Applied Materials, Inc.		23,200		4,784,536

Software - 5.08%
AppLovin Corp., Class A^A		100,300		6,942,766
Dropbox, Inc., Class A^A		58,500		1,421,550
Oracle Corp.		6,900		866,709
Salesforce, Inc.		20,500		6,174,190

				15,405,215

Total Information Technology				31,584,044

Materials - 9.24%
Chemicals - 2.47%
CF Industries Holdings, Inc.		31,200		2,596,152
Linde PLC		4,200		1,950,144
Mosaic Co.		27,500		892,650

See accompanying notes

American Beacon Bridgeway Large Cap Value Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 97.17% (continued)
Materials - 9.24% (continued)
Chemicals - 2.47% (continued)
Olin Corp.		35,200	$	2,069,760

				7,508,706

Metals & Mining - 6.77%
Cleveland-Cliffs, Inc.^A		287,600		6,540,024
Nucor Corp.		34,700		6,867,130
Steel Dynamics, Inc.		48,100		7,129,863

				20,537,017

Total Materials				28,045,723

Real Estate - 0.95%
Specialized REITs - 0.95%
Gaming & Leisure Properties, Inc.		62,900		2,897,803

Total Common Stocks (Cost $232,945,976)				294,935,845

FOREIGN COMMON STOCKS - 1.46%
Financials - 1.46%
Banks - 0.69%
NU Holdings Ltd., Class A^A		176,200		2,102,066

Insurance - 0.77%
RenaissanceRe Holdings Ltd.		9,900		2,326,797

Total Financials				4,428,863

Total Foreign Common Stocks (Cost $3,436,138)				4,428,863

SHORT-TERM INVESTMENTS - 1.30% (Cost $3,942,608)
Investment Companies - 1.30%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{B C}		3,942,608		3,942,608

TOTAL INVESTMENTS - 99.93% (Cost $240,324,722)				303,307,316
OTHER ASSETS, NET OF LIABILITIES - 0.07%				210,862

TOTAL NET ASSETS - 100.00%			$	303,518,178

Percentages are stated as a percent of net assets.

^A	Non-income producing security.

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

^C	7-day yield.

PLC - Public Limited Company.

REIT - Real Estate Investment Trust.

See accompanying notes

American Beacon Bridgeway Large Cap Value Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)

Long Futures Contracts Open on March 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		17	June 2024	$	4,455,227	$	4,512,225	$	56,998

				$	4,455,227	$	4,512,225	$	56,998

Index Abbreviations:


CME		Chicago Mercantile Exchange.

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


Bridgeway Large Cap Value Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	294,935,845	$	—	$	—	$	294,935,845
Foreign Common Stocks		4,428,863		—		—		4,428,863
Short-Term Investments		3,942,608		—		—		3,942,608

Total Investments in Securities - Assets	$	303,307,316	$	—	$	—	$	303,307,316

*Financial Derivative Instruments - Assets*
Futures Contracts	$	56,998	$	—	$	—	$	56,998

Total Financial Derivative Instruments - Assets	$	56,998	$	—	$	—	$	56,998

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

See accompanying notes

American Beacon Stephens Mid-Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08%
Communication Services - 7.35%
Entertainment - 7.14%
Electronic Arts, Inc.		74,363	$	9,865,739
Live Nation Entertainment, Inc.^A		96,114		10,165,978
Spotify Technology SA^A		56,530		14,918,267
Take-Two Interactive Software, Inc.^A		73,856		10,966,878
Warner Music Group Corp., Class A		250,150		8,259,953

				54,176,815

Interactive Media & Services - 0.21%
ZoomInfo Technologies, Inc.^A		97,877		1,568,968

Total Communication Services				55,745,783

Consumer Discretionary - 12.38%
Distributors - 0.80%
Pool Corp.		14,992		6,049,272

Diversified Consumer Services - 0.84%
Bright Horizons Family Solutions, Inc.^A		56,531		6,408,354

Hotels, Restaurants & Leisure - 2.93%
Domino’s Pizza, Inc.		25,294		12,568,083
Wingstop, Inc.		26,431		9,684,318

				22,252,401

Specialty Retail - 6.16%
Burlington Stores, Inc.^A		56,784		13,184,677
Five Below, Inc.^A		45,674		8,284,350
Ross Stores, Inc.		69,556		10,208,038
Tractor Supply Co.		36,928		9,664,796
Ulta Beauty, Inc.^A		10,370		5,422,266

				46,764,127

Textiles, Apparel & Luxury Goods - 1.65%
Deckers Outdoor Corp.^A		13,280		12,499,933

Total Consumer Discretionary				93,974,087

Consumer Staples - 3.61%
Beverages - 3.61%
Brown-Forman Corp., Class B		114,199		5,894,952
Celsius Holdings, Inc.^A		156,529		12,979,385
Monster Beverage Corp.^A		143,539		8,508,992

				27,383,329

Total Consumer Staples				27,383,329

Energy - 4.21%
Energy Equipment & Services - 0.88%
Baker Hughes Co.		199,184		6,672,664

Oil, Gas & Consumable Fuels - 3.33%
Coterra Energy, Inc.		220,683		6,152,642
Diamondback Energy, Inc.		52,990		10,501,028
Southwestern Energy Co.^A		1,133,623		8,592,863

				25,246,533

Total Energy				31,919,197

See accompanying notes

American Beacon Stephens Mid-Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Financials - 7.92%
Capital Markets - 2.75%
MarketAxess Holdings, Inc.		28,328	$	6,210,914
Tradeweb Markets, Inc., Class A		140,378		14,623,176

				20,834,090

Consumer Finance - 1.65%
FirstCash Holdings, Inc.		98,266		12,532,846

Financial Services - 1.65%
Toast, Inc., Class A^A		215,623		5,373,325
WEX, Inc.^A		30,098		7,149,178

				12,522,503

Insurance - 1.87%
Kinsale Capital Group, Inc.		10,117		5,308,795
Ryan Specialty Holdings, Inc.		160,233		8,892,931

				14,201,726

Total Financials				60,091,165

Health Care - 15.36%
Biotechnology - 1.18%
Exelixis, Inc.^A		377,504		8,958,170

Health Care Equipment & Supplies - 6.14%
Dexcom, Inc.^A		99,404		13,787,335
Hologic, Inc.^A		98,138		7,650,839
IDEXX Laboratories, Inc.^A		16,441		8,876,989
Insulet Corp.^A		25,293		4,335,220
ResMed, Inc.		47,172		9,341,471
Tandem Diabetes Care, Inc.^A		74,232		2,628,555

				46,620,409

Health Care Providers & Services - 1.67%
Acadia Healthcare Co., Inc.^A		83,847		6,642,359
Henry Schein, Inc.^A		79,421		5,997,874

				12,640,233

Health Care Technology - 0.97%
Veeva Systems, Inc., Class A^A		31,743		7,354,536

Life Sciences Tools & Services - 5.18%
Azenta, Inc.^A		59,945		3,613,485
Bio-Techne Corp.		79,927		5,626,061
ICON PLC^A		56,279		18,906,930
Illumina, Inc.^A		24,155		3,316,965
Medpace Holdings, Inc.^A		6,070		2,453,190
Repligen Corp.^A		29,340		5,396,213

				39,312,844

Pharmaceuticals - 0.22%
Pacira BioSciences, Inc.^A		58,423		1,707,120

Total Health Care				116,593,312

Industrials - 14.20%
Aerospace & Defense - 3.62%
Axon Enterprise, Inc.^A		40,597		12,701,989
HEICO Corp., Class A		51,346		7,904,203

See accompanying notes

American Beacon Stephens Mid-Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Industrials - 14.20% (continued)
Aerospace & Defense - 3.62% (continued)
L3Harris Technologies, Inc.		32,248	$	6,872,049

				27,478,241

Building Products - 0.71%
Trex Co., Inc.^A		53,494		5,336,027

Commercial Services & Supplies - 2.01%
Copart, Inc.^A		263,559		15,265,337

Electrical Equipment - 2.43%
Generac Holdings, Inc.^A		13,531		1,706,800
Rockwell Automation, Inc.		31,490		9,173,982
Vertiv Holdings Co.		92,699		7,570,727

				18,451,509

Ground Transportation - 0.85%
JB Hunt Transport Services, Inc.		32,123		6,400,508

Machinery - 1.02%
RBC Bearings, Inc.^A		28,707		7,760,938

Professional Services - 2.46%
FTI Consulting, Inc.^A		36,423		7,659,393
Verisk Analytics, Inc.		46,666		11,000,576

				18,659,969

Trading Companies & Distributors - 1.10%
Fastenal Co.		108,509		8,370,384

Total Industrials				107,722,913

Information Technology - 27.95%
Electronic Equipment, Instruments & Components - 1.30%
Cognex Corp.		105,345		4,468,735
Keysight Technologies, Inc.^A		34,399		5,379,316

				9,848,051

IT Services - 2.38%
Globant SA^A		29,088		5,872,867
MongoDB, Inc.^A		13,658		4,898,305
Okta, Inc.^A		69,303		7,250,480

				18,021,652

Semiconductors & Semiconductor Equipment - 4.81%
KLA Corp.		11,887		8,303,902
Lattice Semiconductor Corp.^A		54,506		4,264,004
Marvell Technology, Inc.		96,746		6,857,356
Microchip Technology, Inc.		119,890		10,755,332
Teradyne, Inc.		56,150		6,335,405

				36,515,999

Software - 18.62%
ANSYS, Inc.^A		19,476		6,761,288
Aspen Technology, Inc.^A		30,858		6,581,394
Autodesk, Inc.^A		24,155		6,290,445
Cadence Design Systems, Inc.^A		54,635		17,006,783
Crowdstrike Holdings, Inc., Class A^A		38,067		12,203,899
Envestnet, Inc.^A		118,879		6,884,283
Five9, Inc.^A		72,591		4,508,627
Fortinet, Inc.^A		84,479		5,770,760
Gitlab, Inc., Class A^A		65,256		3,805,730

See accompanying notes

American Beacon Stephens Mid-Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Information Technology - 27.95% (continued)
Software - 18.62% (continued)
Guidewire Software, Inc.^A		94,345	$	11,011,005
Manhattan Associates, Inc.^A		59,060		14,778,584
Palantir Technologies, Inc., Class A^A		312,245		7,184,757
Palo Alto Networks, Inc.^A		19,349		5,497,631
PTC, Inc.^A		53,116		10,035,737
Rapid7, Inc.^A		70,440		3,454,378
Roper Technologies, Inc.		13,152		7,376,168
Tyler Technologies, Inc.^A		22,384		9,513,424
UiPath, Inc., Class A^A		116,471		2,640,398

				141,305,291

Technology Hardware, Storage & Peripherals - 0.84%
Pure Storage, Inc., Class A^A		122,545		6,371,115

Total Information Technology				212,062,108

Real Estate - 1.10%
Real Estate Management & Development - 1.10%
CoStar Group, Inc.^A		86,504		8,356,286

Total Common Stocks (Cost $501,702,236)				713,848,180

FOREIGN COMMON STOCKS - 2.18%
Energy - 1.33%
Energy Equipment & Services - 1.33%
TechnipFMC PLC		402,038		10,095,174

Information Technology - 0.85%
Software - 0.85%
Nice Ltd., ADR^{A B}		24,787		6,459,988

Total Foreign Common Stocks (Cost $11,756,713)				16,555,162

SHORT-TERM INVESTMENTS - 3.62% (Cost $27,453,503)
Investment Companies - 3.62%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{C D}		27,453,503		27,453,503

SECURITIES LENDING COLLATERAL - 0.01% (Cost $52,150)
Investment Companies - 0.01%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{C D}		52,150		52,150

TOTAL INVESTMENTS - 99.89% (Cost $540,964,602)				757,908,995
OTHER ASSETS, NET OF LIABILITIES - 0.11%				836,465

TOTAL NET ASSETS - 100.00%			$	758,745,460

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 March 31, 2024.

^C	7-day yield.

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

ADR - American Depositary Receipt.

PLC - Public Limited Company.

See accompanying notes

American Beacon Stephens Mid-Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)

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


Stephens Mid-Cap Growth Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	713,848,180	$	—	$	—	$	713,848,180
Foreign Common Stocks		16,555,162		—		—		16,555,162
Short-Term Investments		27,453,503		—		—		27,453,503
Securities Lending Collateral		52,150		—		—		52,150

Total Investments in Securities - Assets	$	757,908,995	$	—	$	—	$	757,908,995

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

See accompanying notes

American Beacon Stephens Small Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08%
Consumer Discretionary - 7.90%
Diversified Consumer Services - 1.04%
Bright Horizons Family Solutions, Inc.^A		31,876	$	3,613,463

Hotels, Restaurants & Leisure - 3.50%
First Watch Restaurant Group, Inc.^A		73,988		1,821,585
Papa John’s International, Inc.		49,597		3,303,160
Sweetgreen, Inc., Class A^A		105,054		2,653,664
Wingstop, Inc.		12,149		4,451,394

				12,229,803

Household Durables - 0.83%
Installed Building Products, Inc.		11,259		2,913,041

Specialty Retail - 2.53%
Academy Sports & Outdoors, Inc.		36,467		2,462,981
Five Below, Inc.^A		16,641		3,018,345
Revolve Group, Inc.^{A B}		157,388		3,331,904

				8,813,230

Total Consumer Discretionary				27,569,537

Consumer Staples - 5.08%
Beverages - 1.66%
Celsius Holdings, Inc.^A		69,736		5,782,509

Consumer Staples Distribution & Retail - 1.57%
Chefs’ Warehouse, Inc.^A		145,631		5,484,464

Personal Products - 1.85%
BellRing Brands, Inc.^A		109,563		6,467,504

Total Consumer Staples				17,734,477

Energy - 5.11%
Energy Equipment & Services - 0.69%
Cactus, Inc., Class A		47,604		2,384,484

Oil, Gas & Consumable Fuels - 4.42%
Magnolia Oil & Gas Corp., Class A		168,556		4,374,028
Southwestern Energy Co.^A		521,054		3,949,590
Viper Energy, Inc.		184,744		7,105,254

				15,428,872

Total Energy				17,813,356

Financials - 11.97%
Capital Markets - 2.31%
MarketAxess Holdings, Inc.		7,180		1,574,215
Piper Sandler Cos.		26,548		5,269,513
Virtu Financial, Inc., Class A		59,523		1,221,412

				8,065,140

Consumer Finance - 4.56%
Encore Capital Group, Inc.^A		77,101		3,516,577
EZCORP, Inc., Class A^A		418,050		4,736,506
FirstCash Holdings, Inc.		60,132		7,669,235

				15,922,318

Financial Services - 1.53%
Toast, Inc., Class A^A		77,054		1,920,185

See accompanying notes

American Beacon Stephens Small Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Financials - 11.97% (continued)
Financial Services - 1.53% (continued)
WEX, Inc.^A		14,443	$	3,430,646

				5,350,831

Insurance - 3.57%
Kinsale Capital Group, Inc.		4,688		2,459,981
Palomar Holdings, Inc.^A		67,176		5,631,364
Ryan Specialty Holdings, Inc.		78,347		4,348,259

				12,439,604

Total Financials				41,777,893

Health Care - 17.45%
Biotechnology - 2.26%
Exelixis, Inc.^A		187,256		4,443,585
Halozyme Therapeutics, Inc.^A		84,476		3,436,484

				7,880,069

Health Care Equipment & Supplies - 2.86%
Globus Medical, Inc., Class A^A		42,580		2,283,991
Insulet Corp.^A		4,714		807,980
iRhythm Technologies, Inc.^A		25,290		2,933,640
Neogen Corp.^{A B}		131,319		2,072,214
OmniAb, Inc.^{A C D}		25,374		—
Tandem Diabetes Care, Inc.^A		53,077		1,879,456

				9,977,281

Health Care Providers & Services - 3.02%
Acadia Healthcare Co., Inc.^A		59,211		4,690,695
HealthEquity, Inc.^A		71,584		5,843,402

				10,534,097

Health Care Technology - 1.17%
HealthStream, Inc.		85,154		2,270,206
Schrodinger, Inc.^A		66,669		1,800,063

				4,070,269

Life Sciences Tools & Services - 5.45%
Azenta, Inc.^A		60,197		3,628,675
Bio-Techne Corp.		41,209		2,900,702
BioLife Solutions, Inc.^{A B}		77,095		1,430,112
ICON PLC^A		10,515		3,532,514
Medpace Holdings, Inc.^A		8,451		3,415,472
Repligen Corp.^A		22,474		4,133,418

				19,040,893

Pharmaceuticals - 2.69%
Ligand Pharmaceuticals, Inc.^A		45,194		3,303,681
Pacira BioSciences, Inc.^A		77,297		2,258,618
Supernus Pharmaceuticals, Inc.^A		112,807		3,847,847

				9,410,146

Total Health Care				60,912,755

Industrials - 20.64%
Aerospace & Defense - 7.27%
AeroVironment, Inc.^A		37,016		5,673,813
Axon Enterprise, Inc.^A		19,266		6,027,946
HEICO Corp., Class A		26,251		4,041,079
Kratos Defense & Security Solutions, Inc.^A		269,737		4,957,766

See accompanying notes

American Beacon Stephens Small Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Industrials - 20.64% (continued)
Aerospace & Defense - 7.27% (continued)
Leonardo DRS, Inc.^A		211,068	$	4,662,492

				25,363,096

Air Freight & Logistics - 0.84%
Hub Group, Inc., Class A^A		67,735		2,927,507

Building Products - 2.35%
AZEK Co., Inc.^A		69,735		3,502,092
Trex Co., Inc.^A		47,010		4,689,247

				8,191,339

Commercial Services & Supplies - 1.54%
Montrose Environmental Group, Inc.^A		104,068		4,076,343
VSE Corp.		16,139		1,291,120

				5,367,463

Construction & Engineering - 0.38%
Ameresco, Inc., Class A^A		54,786		1,321,986

Electrical Equipment - 1.30%
Vertiv Holdings Co.		55,694		4,548,529

Machinery - 2.14%
Lindsay Corp.		20,068		2,361,201
RBC Bearings, Inc.^A		18,982		5,131,784

				7,492,985

Professional Services - 3.48%
FTI Consulting, Inc.^A		18,297		3,847,676
ICF International, Inc.		25,171		3,791,508
Maximus, Inc.		53,919		4,523,804

				12,162,988

Trading Companies & Distributors - 1.34%
SiteOne Landscape Supply, Inc.^A		26,779		4,674,274

Total Industrials				72,050,167

Information Technology - 24.87%
Electronic Equipment, Instruments & Components - 1.22%
Cognex Corp.		48,471		2,056,140
nLight, Inc.^A		168,783		2,194,179

				4,250,319

IT Services - 0.89%
Globant SA^A		15,392		3,107,645

Semiconductors & Semiconductor Equipment - 5.59%
Ambarella, Inc.^A		17,267		876,646
Lattice Semiconductor Corp.^A		32,120		2,512,748
MACOM Technology Solutions Holdings, Inc.^A		26,889		2,571,664
Onto Innovation, Inc.^A		37,343		6,762,070
Power Integrations, Inc.		35,051		2,507,899
Rambus, Inc.^A		33,676		2,081,513
Silicon Laboratories, Inc.^A		15,236		2,189,718

				19,502,258

Software - 16.44%
Altair Engineering, Inc., Class A^A		20,322		1,750,740
Aspen Technology, Inc.^A		7,259		1,548,200
CyberArk Software Ltd.^A		28,024		7,444,015

See accompanying notes

American Beacon Stephens Small Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)


	Shares		Fair Value
COMMON STOCKS - 94.08% (continued)
Information Technology - 24.87% (continued)
Software - 16.44% (continued)
Envestnet, Inc.^A		88,741	$	5,138,991
Five9, Inc.^A		42,946		2,667,376
Guidewire Software, Inc.^A		31,804		3,711,845
Intapp, Inc.^A		51,483		1,765,867
Manhattan Associates, Inc.^A		26,953		6,744,449
Model N, Inc.^A		86,668		2,467,438
PROS Holdings, Inc.^{A B}		114,558		4,161,892
Qualys, Inc.^A		13,692		2,284,784
Rapid7, Inc.^A		55,901		2,741,385
SPS Commerce, Inc.^A		31,596		5,842,101
Tenable Holdings, Inc.^A		67,068		3,315,171
Tyler Technologies, Inc.^A		3,262		1,386,383
Varonis Systems, Inc.^A		93,447		4,407,895

				57,378,532

Technology Hardware, Storage & Peripherals - 0.73%
Pure Storage, Inc., Class A^A		48,943		2,544,546

Total Information Technology				86,783,300

Materials - 1.06%
Chemicals - 1.06%
Balchem Corp.		23,816		3,690,289

Total Common Stocks (Cost $186,988,318)				328,331,774

FOREIGN COMMON STOCKS - 2.95%
Energy - 1.39%
Energy Equipment & Services - 1.39%
TechnipFMC PLC		192,903		4,843,794

Industrials - 0.51%
Machinery - 0.51%
Kornit Digital Ltd.^A		98,643		1,787,411

Information Technology - 1.05%
Software - 1.05%
Descartes Systems Group, Inc.^A		40,065		3,667,150

Total Foreign Common Stocks (Cost $7,475,414)				10,298,355

SHORT-TERM INVESTMENTS - 3.02% (Cost $10,551,661)
Investment Companies - 3.02%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{E F}		10,551,661		10,551,661

SECURITIES LENDING COLLATERAL - 0.42% (Cost $1,463,427)
Investment Companies - 0.42%
American Beacon U.S. Government Money Market Select Fund, 5.22%^{E F}		1,463,427		1,463,427

TOTAL INVESTMENTS - 100.47% (Cost $206,478,820)				350,645,217
LIABILITIES, NET OF OTHER ASSETS - (0.47%)				(1,628,730	)

TOTAL NET ASSETS - 100.00%			$	349,016,487

Percentages are stated as a percent of net assets.

^A	Non-income producing security.

See accompanying notes

American Beacon Stephens Small Cap Growth Fund^SM

Schedule of Investments

March 31, 2024 (Unaudited)

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

^C	Value was determined using significant unobservable inputs.

^D	Security has been fair valued pursuant to the Manager’s procedures related to pricing that is not available after the close of exchange or the available price does not reflect the security’s true market value. At period end, the value of these securities amounted to $0 or 0.00% of net assets.

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

^F	7-day yield.

PLC - Public Limited Company.

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


Stephens Small Cap Growth Fund	Level 1		Level 2		Level 3		Total
*Assets*
Common Stocks	$	328,331,774	$	—	$	—	$	328,331,774
Foreign Common Stocks		10,298,355		—		—		10,298,355
Short-Term Investments		10,551,661		—		—		10,551,661
Securities Lending Collateral		1,463,427		—		—		1,463,427

Total Investments in Securities - Assets	$	350,645,217	$	—	$	—	$	350,645,217

U.S. GAAP requires transfers between all levels to/from level 3 be disclosed. During the period ended March 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

March 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.

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 are also more likely to require a fair value determination using these procedures because they are more thinly traded

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

March 31, 2024 (Unaudited)

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 or options that are traded on a national securities exchange, are stated at the last reported sale or settlement price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied,

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

March 31, 2024 (Unaudited)

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.

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.

Fixed-income securities including corporate, convertible and municipal bonds and notes, U.S. government agencies, U.S. Treasury obligations, sovereign issues, bank loans, convertible preferred securities, and non-U.S. bonds are normally valued by pricing service providers that use broker dealer quotations, reported trades or valuation estimates from their internal pricing models. The service providers’ internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates, and quoted prices for similar assets. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy. Fixed-income securities purchased on a delayed-delivery basis are marked-to-market daily until settlement at the forward settlement date and are categorized as Level 2 of the fair value hierarchy.

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

American Beacon Funds^SM

Supplementary Notes to Schedules of Investments

March 31, 2024 (Unaudited)

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.

Subsequent Events

On March 7, 2024, the Board of Trustees of the Trust, at the recommendation by the Manager, has approved: (i) the termination of the investment advisory agreement among the Manager, Bridgeway Capital Management, LLC, and the Trust, on behalf of the American Beacon Bridgeway Large Cap Growth and American Beacon Large Cap Values Funds (the “Funds”), effective April 30, 2024, and (ii) a new investment advisory agreement among the Manager, Numeric Investors LLC and the Trust, on behalf of the Funds, effective May 1, 2024. In connection with these approvals, the Board also approved a change in the Funds’ name to the American Beacon Man Large Cap Growth and American Beacon Man Large Cap Value Funds, effective May 1, 2024.