N-Q 1 d408979dnq.htm N-Q (4-30-17) N-Q (4-30-17)

 

 

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)

 

 

Gene L. Needles, Jr., 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: January 31, 2018

Date of reporting period: April 30, 2017

 

 

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 Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

Bermuda - 0.90%

     

Common Stocks - (Cost $222,352)

     

China Yuchai International Ltd.

     457      $ 8,866  

Cosco International Holdings Ltd

     64,000        27,481  

Road King Infrastructure Ltd.

     140,000        207,705  

Yuexiu Transport Infrastructure Ltd.

     104,000        80,223  
     

 

 

 

Total Bermuda

        324,275  
     

 

 

 

Brazil - 4.90%

     

Common Stocks - (Cost $1,665,541)

     

Ambev S.A.

     55,800        321,012  

Biosev S.A.A

     3,700        7,146  

Centrais Eletricas Santa Catarina

     900        5,073  

Cia de Gas de Sao Paulo, Class A

     6,262        94,698  

CPFL Energia S.A.

     20,300        166,286  

Dimed S.A. Distribuidora da MedicamentosA

     100        18,273  

FII BTG Pactual Corporate Office Fund

     7,522        240,515  

Fleury S.A.

     12,000        198,560  

Grendene S.A.

     13,400        104,066  

Hypermarcas S.A.

     52,400        496,257  

Telefonica Brasil S.A.

     8,100        120,681  
     

 

 

 

Total Common Stocks

        1,772,567  
     

 

 

 

Preferred Stocks - (Cost $–)

     

Cia de Gas de Sao Paulo, Class AB C

     134        67  
     

 

 

 

Total Brazil

        1,772,634  
     

 

 

 

Chile - 2.66%

     

Common Stocks - (Cost $873,601)

     

Almendral S.A.A

     143,569        12,262  

AntarChile S.A.

     2,356        28,947  

Banco de Chile

     4,513        544  

Blumar S.A.

     29,423        9,236  

Embotelladora Andina S.A., Class B, ADR

     9,096        231,220  

Enel Chile S.A., ADR

     16,706        91,215  

Enel Chile S.A.

     3,129,832        345,479  

Inversiones Aguas Metropolitanas S.A.

     6,607        10,446  

Sigdo Koppers S.A.

     16,018        22,968  

SMU S.A.A

     52,598        11,585  

Vina Concha y Toro S.A.

     111,423        179,638  

Vina San Pedro Tarapaca S.A.

     1,870,542        18,021  
     

 

 

 

Total Chile

        961,561  
     

 

 

 

China - 14.97%

     

Common Stocks - (Cost $4,698,499)

     

Agricultural Bank of China Ltd., Class H

     1,055,000        486,922  

Bank of China Ltd., Class H

     962,000        466,261  

Bank of Communications Co., Ltd., Class H

     613,000        472,063  

Bank of Jinzhou Co., Ltd., Class H

     14,000        15,947  

China Communications Services Corp. Ltd., Class H

     252,000        143,521  

China Construction Bank Corp., Class H

     592,000        481,007  

China Petroleum & Chemical Corp., Class H

     318,000        257,561  

China Shineway Pharmaceutical Group Ltd.

     73,000        88,313  

China Telecom Corp. Ltd., Class H

     1,000,000        488,535  

Fuguiniao Co., Ltd., Class HA C

     28,000        360  

Huishang Bank Corp. Ltd., Class H

     425,000        201,071  

Industrial & Commercial Bank of China Ltd., Class H

     736,000        480,678  

Jilin Jiutai Rural Commercial Bank Corp. Ltd., Class HA

     16,000        10,779  

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

China - 14.97% (continued)

 

Koradior Holdings Ltd.

     14,000      $ 14,975  

NVC Lighting Holding Ltd.

     1,961,000        221,857  

PetroChina Co., Ltd., Class H

     650,000        457,938  

Ping An Insurance Group Co. of China Ltd., Class H

     64,500        363,200  

Qinqin Foodstuffs Group Cayman Co., Ltd.A

     618,400        221,017  

Ronshine China Holdings Ltd.A

     8,000        7,076  

Tencent Holdings Ltd.

     16,700        522,576  

Tsingtao Brewery Co., Ltd., Class H

     4,000        17,999  
     

 

 

 

Total Common Stocks

        5,419,656  
     

 

 

 

Rights - (Cost $–)

     

Bank of Communications Co., Ltd., Expires 05/31/2017C

     1,226        —    
     

 

 

 

Total China

        5,419,656  
     

 

 

 

Colombia - 0.22%

     

Common Stocks - (Cost $75,558)

     

Grupo Aval Acciones y Valores S.A., ADR

     9,880        78,842  
     

 

 

 

Czech Republic - 2.04%

     

Common Stocks - (Cost $692,626)

     

CEZ A/S

     28,256        493,165  

O2 Czech Republic A/S

     13,324        157,304  

Philip Morris CR A/S

     163        89,368  
     

 

 

 

Total Czech Republic

        739,837  
     

 

 

 

Egypt - 1.89%

     

Common Stocks - (Cost $710,641)

     

Commercial International Bank Egypt SAE

     66,557        269,178  

Eastern Tobacco

     14,398        177,083  

Faisal Islamic Bank of Egypt

     15,027        14,569  

Global Telecom Holding SAEA

     144,513        55,483  

Telecom Egypt Co.

     303,809        168,484  
     

 

 

 

Total Egypt

        684,797  
     

 

 

 

Greece - 1.42%

     

Common Stocks - (Cost $496,825)

     

Aegean Airlines S.A.

     14,980        128,910  

Hellenic Telecommunications Organization S.A.

     37,256        362,406  

Sarantis S.A.

     1,843        23,207  
     

 

 

 

Total Greece

        514,523  
     

 

 

 

Hong Kong - 4.61%

     

Common Stocks - (Cost $1,706,552)

     

China Mobile Ltd.

     42,500        453,229  

China Unicom Hong Kong Ltd.

     304,000        392,392  

CITIC Ltd.

     337,000        488,710  

Goldlion Holdings Ltd.

     46,000        19,575  

Hopewell Highway Infrastructure Ltd.

     493,500        285,504  

Kingboard Chemical Holdings Ltd.

     5,000        18,031  

Kingdom Holding Ltd.

     88,000        12,558  
     

 

 

 

Total Hong Kong

        1,669,999  
     

 

 

 

Hungary - 2.76%

     

Common Stocks - (Cost $814,596)

     

Magyar Telekom Telecommunications PLC

     285,820        478,165  

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

Hungary - 2.76% (continued)

 

Richter Gedeon Nyrt

     21,560      $ 522,062  
     

 

 

 

Total Hungary

        1,000,227  
     

 

 

 

India - 9.65%

     

Common Stocks - (Cost $3,391,354)

     

Alkem Laboratories Ltd.

     2,275        69,491  

HCL Technologies Ltd.

     22,212        281,802  

Hindustan Unilever Ltd.

     35,888        521,054  

Infosys Ltd., Sponsored ADR

     12,864        187,300  

Infosys Ltd.

     9,703        138,916  

ITC Ltd.

     82,052        354,330  

Omaxe Ltd.

     148,569        445,499  

Oracle Financial Services Software Ltd.

     5,183        286,906  

Tata Consultancy Services Ltd.

     13,012        460,163  

Videocon Industries Ltd.A

     151,731        244,826  

Wipro Ltd., ADR

     9,614        94,698  

Wipro Ltd.

     53,199        409,764  
     

 

 

 

Total India

        3,494,749  
     

 

 

 

Indonesia - 1.72%

     

Common Stocks - (Cost $618,022)

     

Bank Central Asia Tbk PT

     273,400        364,082  

Chandra Asri Petrochemical Tbk PT

     78,800        156,814  

Multipolar Technology Tbk PT

     570,100        42,344  

Tunas Ridean Tbk PT

     7,500        745  

Unilever Indonesia Tbk PT

     17,600        58,759  
     

 

 

 

Total Indonesia

        622,744  
     

 

 

 

Luxembourg - 0.47%

     

Common Stocks - (Cost $141,917)

     

Pegas Nonwovens S.A.

     4,895        168,685  
     

 

 

 

Malaysia - 9.21%

     

Common Stocks - (Cost $3,318,788)

     

Allianz Malaysia Bhd

     2,700        7,140  

Batu Kawan Bhd

     1,500        6,558  

Fraser & Neave Holdings Bhd

     55,100        315,800  

Heineken Malaysia Bhd

     19,600        79,195  

Hong Leong Bank Bhd

     158,800        504,824  

Kuala Lumpur Kepong Bhd

     88,000        497,065  

Nestle Malaysia Bhd

     16,900        319,235  

PPB Group Bhd

     22,500        87,595  

Public Bank Bhd

     108,400        498,425  

Telekom Malaysia Bhd

     341,000        507,455  

Tenaga Nasional Bhd

     159,100        510,909  
     

 

 

 

Total Malaysia

        3,334,201  
     

 

 

 

Mexico - 2.28%

     

Common Stocks - (Cost $904,878)

     

Grupo Industrial Maseca SAB de CV, Class B

     3,260        4,018  

Grupo Sanborns SAB de CV

     5,935        6,804  

Industrias Bachoco SAB de CV, Series B

     17,308        76,917  

La Comer SAB de CVA

     296,025        231,942  

Megacable Holdings SAB de CV

     120,585        457,160  

Organizacion Soriana SAB de CV, Class BA

     21,564        49,439  
     

 

 

 

Total Mexico

        826,280  
     

 

 

 

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

Peru - 0.19%

     

Common Stocks - (Cost $65,389)

     

Alicorp S.A.A.

     29,431      $ 69,863  
     

 

 

 

Philippines - 3.25%

     

Common Stocks - (Cost $1,204,616)

     

Aboitiz Power Corp.

     357,400        304,003  

Cebu Air, Inc.

     48,130        104,034  

China Banking Corp.

     42,445        29,987  

Cosco Capital, Inc.

     151,300        24,709  

Integrated Micro-Electronics, Inc.

     329,500        50,779  

Manila Electric Co.

     84,840        475,437  

Pepsi-Cola Products Philippines, Inc.

     40,900        3,029  

RFM Corp.

     101,000        9,784  

San Miguel Corp.

     50,960        112,190  

San Miguel Pure Foods Co., Inc.

     1,220        7,325  

Top Frontier Investment Holdings, Inc.A

     1,480        8,708  

Union Bank of the Philippines

     29,140        46,511  
     

 

 

 

Total Common Stocks

        1,176,496  
     

 

 

 

Rights - (Cost $–)

     

China Banking Corp. Expires 05/31/2017E

     10,258        883  
     

 

 

 

Total Philippines

        1,177,379  
     

 

 

 

Poland - 1.06%

     

Common Stocks - (Cost $312,281)

     

Alumetal S.A.

     1,789        29,764  

AmRest Holdings SEA

     1,129        106,957  

Asseco Poland S.A.

     11,892        167,381  

Boryszew S.A.A

     2,226        6,651  

ComArch S.A.A

     112        6,782  

Lentex S.A.

     2,609        7,264  

Netia S.A.

     14,379        16,309  

Oponeo.pl S.A.

     1,073        13,830  

Stalexport Autostrady S.A.

     29,864        30,024  
     

 

 

 

Total Poland

        384,962  
     

 

 

 

Republic of Korea - 10.85%

     

Common Stocks - (Cost $3,418,198)

     

Aju Capital Co., Ltd.

     1,109        7,076  

Binggrae Co., Ltd.

     916        55,222  

Busan City Gas Co., Ltd.

     333        10,184  

Charm Engineering Co., Ltd.A

     102,355        254,111  

Daeduck Electronics Co.

     16,851        137,426  

Daesung Energy Co., Ltd.

     9,126        50,286  

Dong-Il Corp.

     1,382        69,470  

ESTec Corp/Republic of Korea

     6,426        76,238  

Fursys, Inc.

     247        6,859  

GMB Korea Corp.

     4,370        20,815  

Huvis Corp.

     1,000        6,653  

Jinro Distillers Co., Ltd.

     260        7,186  

JLS Co., Ltd.

     1,737        11,556  

Kia Motors Corp.

     10,112        309,696  

KT Corp.

     16,598        469,686  

LF Corp.

     8,307        182,142  

LG Electronics, Inc.

     7,706        467,954  

LG Uplus Corp.

     27,150        344,773  

Namyang Dairy Products Co., Ltd.

     279        212,578  

Nexen Corp.

     5,527        40,072  

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

Republic of Korea - 10.85% (continued)

 

Saeron Automotive Corp.

     3,060      $ 20,384  

Sam Young Electronics Co., Ltd.

     695        7,940  

Samchully Co., Ltd.

     345        32,138  

Samsung Electronics Co., Ltd.

     265        519,567  

Samwonsteel Co., Ltd.

     2,041        6,529  

SAVEZONE I&C Corp.

     1,739        7,962  

SK Hynix, Inc.

     1,280        60,743  

SK Telecom Co., Ltd.

     2,117        445,577  

Uju Electronics Co., Ltd.

     835        12,255  

YESCO Co., Ltd.

     2,264        73,318  
     

 

 

 

Total Republic of Korea

        3,926,396  
     

 

 

 

Russia - 1.50%

     

Common Stocks - (Cost $497,307)

     

Gazprom Neft PJSC, ADR

     15,834        278,679  

Gazprom PJSC, ADR

     9,680        45,980  

Rostelecom PJSC, ADR

     28,013        220,182  
     

 

 

 

Total Russia

        544,841  
     

 

 

 

South Africa - 4.22%

     

Common Stocks - (Cost $1,552,916)

     

Absa Bank Ltd.

     1,084        59,181  

Adbee Rf Ltd.A

     701        2,328  

Bid Corp. Ltd.

     22,876        484,678  

Clover Industries Ltd.

     139,856        170,061  

Mondi Ltd.

     13,511        350,550  

Netcare Ltd.

     24,771        49,139  

Tongaat Hulett Ltd.

     31,489        284,523  

Vodacom Group Ltd.

     11,240        127,180  
     

 

 

 

Total South Africa

        1,527,640  
     

 

 

 

Taiwan - 9.49%

     

Common Stocks - (Cost $3,071,591)

     

Chunghwa Telecom Co., Ltd.

     142,000        480,064  

Far Eastern International Bank

     1,099,400        344,348  

Hon Hai Precision Industry Co., Ltd.

     162,288        531,439  

KD Holding Corp.

     3,000        17,252  

Lian HWA Food Corp.

     24,000        28,080  

Sampo Corp.

     45,000        27,593  

Shan-Loong Transportation Co., Ltd.

     57,000        64,234  

Shanghai Commercial & Savings Bank Ltd.

     480,106        477,385  

Taichung Commercial Bank Co., Ltd.

     1,172,379        380,806  

Taiwan Business Bank

     354,135        97,891  

Taiwan Cooperative Financial Holding Co., Ltd.

     96,934        49,317  

Taiwan Secom Co., Ltd.

     75,105        219,308  

Taiwan Semiconductor Manufacturing Co., Ltd.

     25,000        161,165  

Taiwan Semiconductor Manufacturing Co., Ltd., Sponsored ADR

     5,744        189,954  

Taiwan Shin Kong Security Co., Ltd.

     203,170        268,684  

Union Bank Of Taiwan

     238,000        71,863  

Ve Wong Corp.

     10,000        7,905  

YungShin Global Holding Corp.

     8,000        11,866  

Zenitron Corp.

     11,000        6,745  
     

 

 

 

Total Taiwan

        3,435,899  
     

 

 

 

Thailand - 6.31%

     

Common Stocks - (Cost $2,053,917)

     

Advanced Information Technology PCL

     60,500        45,913  

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Shares      Fair Value  

Thailand - 6.31% (continued)

 

Bangkok Bank PCL

     15,400      $ 79,916  

Bangkok Bank PCL, NVDR

     21,200        110,015  

CS Loxinfo PCL

     26,900        4,666  

Kang Yong Electric PCL, NVDR

     100        1,567  

Kang Yong Electric PCL

     2,100        32,906  

KGI Securities Thailand PCL, NVDR

     109,400        12,019  

Krung Thai Bank PCL, NVDR

     823,100        471,159  

MBK PCL, NVDR

     41,200        17,866  

Mega Lifesciences PCL

     38,600        28,735  

MK Restaurants Group PCL

     81,300        143,961  

Modernform Group PCL, NVDR

     26,400        3,816  

Modernform Group PCL

     33,200        4,799  

Ratchaburi Electricity Generating Holding PCL

     103,400        149,465  

Ratchaburi Electricity Generating Holding PCL, NVDR

     93,100        134,577  

Siam Cement PCL, NVDR

     32,000        495,866  

Somboon Advance Technology PCL, NVDR

     59,500        27,350  

Thai Vegetable Oil PCL

     166,100        175,272  

Thai Vegetable Oil PCL, NVDR

     184,400        194,582  

Thai Wah PCL

     119,000        34,403  

Vinythai PCL, NVDR

     195,100        115,627  
     

 

 

 

Total Thailand

        2,284,480  
     

 

 

 

Turkey - 0.24%

     

Common Stocks - (Cost $81,305)

     

Nuh Cimento Sanayi A/S

     2,859        8,629  

Selcuk Ecza Deposu Ticaret ve Sanayi A.S.

     77,878        79,370  
     

 

 

 

Total Turkey

        87,999  
     

 

 

 

SHORT-TERM INVESTMENTS - 2.17% (Cost $784,072)

     

American Beacon U.S. Government Money Market Select Fund, Select Class, 0.69%D

     784,072        784,072  
     

 

 

 

SECURITIES LENDING COLLATERAL - 0.26% (Cost $93,613)

     

American Beacon U.S. Government Money Market Select Fund, Select Class, 0.69%D

     93,613        93,613  
     

 

 

 

TOTAL INVESTMENTS - 99.24% (Cost $33,466,955)

        35,930,154  

OTHER ASSETS, NET OF LIABILITIES - 0.76%

        273,364  
     

 

 

 

TOTAL NET ASSETS - 100.00%

      $ 36,203,518  
     

 

 

 

Percentages are stated as a percent of net assets.

 

A  Non-income producing security.
B  A type of Preferred Stock that has no maturity date.
C  Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amounted to $1,310 or 0.004% of net assets.
D  The Fund is affiliated by having the same investment advisor.

ADR - American Depositary Receipt.

NVDR - Non Voting Depositary Receipt.

PCL - Public Company Limited (Thailand).

PJSC - Private Joint Stock Company.

PLC - Public Limited Company.

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Futures Contracts Open on April 30, 2017:

 

Description

   Type    Number of
Contracts
     Expiration Date      Contract Value      Unrealized
Appreciation
(Depreciation)
 

Mini MSCI Emerging Markets Index Futures

   Long      19        June 2017      $ 930,050      $ 20,620  
           

 

 

    

 

 

 
         $ 930,050      $ 20,620  
           

 

 

    

 

 

 

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of April 30, 2017, the investments were classified as described below:

 

Acadian Emerging Markets Managed Volatility Fund

   Level 1      Level 2      Level 3     Total  

Assets

 

Foreign Common Stocks

 

Bermuda

   $ 324,275      $ —        $ —       $ 324,275  

Brazil

     1,772,567        —          —         1,772,567  

Chile

     961,561        —          —         961,561  

China

     5,419,296        —          360       5,419,656  

Colombia

     78,842        —          —         78,842  

Czech Republic

     739,837        —          —         739,837  

Egypt

     684,797        —          —         684,797  

Greece

     514,523        —          —         514,523  

Hong Kong

     1,669,999        —          —         1,669,999  

Hungary

     1,000,227        —          —         1,000,227  

India

     3,494,749        —          —         3,494,749  

Indonesia

     622,744        —          —         622,744  

Luxembourg

     168,685        —          —         168,685  

Malaysia

     3,334,201        —          —         3,334,201  

Mexico

     826,280        —          —         826,280  

Peru

     69,863        —          —         69,863  

Philippines

     1,176,496        —          —         1,176,496  

Poland

     384,962        —          —         384,962  

Republic of Korea

     3,926,396        —          —         3,926,396  

Russia

     544,841        —          —         544,841  

South Africa

     1,527,640        —          —         1,527,640  

Taiwan

     3,435,899        —          —         3,435,899  

Thailand

     1,584,444        700,036        —         2,284,480  

Turkey

     87,999        —          —         87,999  

Foreign Preferred Stocks

          

Brazil

     —          —          67       67  

Foreign Rights

          

China

     —          —          0 (1)      —    

Philippines

     —          —          883       883  

Short-Term Investments - Money Market Funds

     784,072        —          —         784,072  

Securities Lending Collateral Invested in Money Market Funds

     93,613        —          —         93,613  
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Investments in Securities - Assets

   $ 35,228,808      $ 700,036      $ 1,310     $ 35,930,154  
  

 

 

    

 

 

    

 

 

   

 

 

 

Financial Derivative Instruments - Assets

 

Futures Contracts

   $ 20,620      $ —        $ —       $ 20,620  
  

 

 

    

 

 

    

 

 

   

 

 

 

Total Financial Derivative Instruments - Assets

   $ 20,620      $ —        $ —       $ 20,620  
  

 

 

    

 

 

    

 

 

   

 

 

 

 

(1)  Investment held in the Fund’s portfolio with $0 fair value.

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

U.S. GAAP also requires all transfers between any level to be disclosed. The end of the period timing recognition has been adopted for the transfers between levels of the Fund’s assets and liabilities. During the period ended April 30, 2017, there were no transfers between levels.

The following is a reconciliation of Level 3 assets within the Acadian Fund for which significant unobservable inputs were used to determine fair value. Transfers in or out of Level 3 represent the ending value of any security or instrument where a change in the level has occurred from the beginning to the end of the period:

 

Security Type

   Balance as
of
1/31/2017
     Net
Purchases
     Net Sales      Accrued
Discounts
(Premiums)
     Realized
Gain
(Loss)
     Change in
Unrealized
Appreciation
(Depreciation)
    Transfer
into
Level 3
     Transfer
out of
Level 3
     Balance as
of
4/30/2017
     Change in
Unrealized
Appreciation
(Depreciation)
at Period end**
 

Foreign Common Stocks

   $ 13,966      $ —        $ —        $ —        $ —        $ (13,606   $ —        $ —        $ 360      $ (13,606

Foreign Preferred Stocks

     —          67        —          —          —          —         —          —          67        —    

Foreign Rights

     —          883        —          —          —          —         —          —          883        —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 
   $ 13,966      $ 950      $ —        $ —        $ —        $ (13,606   $ —        $ —        $ 1,310      $ (13,606
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

    

 

 

    

 

 

    

 

 

 

 

** Change in unrealized appreciation or (depreciation) attributable to Level 3 securities held at period end. This balance is included in the change in unrealized appreciation (depreciation) on the Statements of Operations.

The Foreign Preferred Stocks and Foreign rights classified as Level 3 were fair valued using intrinsic valuation method and information from the rights offering. These securities were included in the Level 3 category due to limited market transparency of the inputs used in the valuation.

 

See accompanying notes.

 


American Beacon Acadian Emerging Markets Managed Volatility FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Top Ten Holdings (% Net Assets)

 

Hon Hai Precision Industry Co., Ltd.

        1.5  

Tencent Holdings Ltd.

        1.4  

Richter Gedeon Nyrt

        1.4  

Hindustan Unilever Ltd.

        1.4  

Samsung Electronics Co., Ltd.

        1.4  

Tenaga Nasional Bhd

        1.4  

Telekom Malaysia Bhd

        1.4  

Hong Leong Bank Bhd

        1.4  

Public Bank Bhd

        1.4  

Kuala Lumpur Kepong Bhd

        1.4  

Total Fund Holdings

     211     

Sector Allocation (% Equities)

     

Financials

        19.9  

Consumer Staples

        16.8  

Telecommunication Services

        15.5  

Information Technology

        13.1  

Utilities

        8.4  

Consumer Discretionary

        7.6  

Industrials

        5.2  

Health Care

        4.5  

Materials

        3.4  

Energy

        3.0  

Real Estate

        2.6  

Country Allocation (% Equities)

     

China

        15.5  

Republic of Korea

        11.2  

India

        10.0  

Taiwan

        9.8  

Malaysia

        9.5  

Thailand

        6.5  

Brazil

        5.1  

Hong Kong

        4.8  

South Africa

        4.4  

Philippines

        3.4  

Hungary

        2.8  

Chile

        2.7  

Mexico

        2.4  

Czech Republic

        2.1  

Egypt

        1.9  

Indonesia

        1.8  

Russia

        1.5  

Greece

        1.5  

Poland

        1.1  

Bermuda

        0.9  

Luxembourg

        0.5  

Turkey

        0.2  

Colombia

        0.2  

Peru

        0.2  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

CORPORATE OBLIGATIONS - 61.59%

     

Basic Materials - 6.32%

     

AK Steel Corp., 8.38%, Due 4/1/2022A

   $ 500,000      $ 517,500  

Aleris International, Inc., 9.50%, Due 4/1/2021

     150,000        160,875  

CF Industries, Inc.,

     

7.13%, Due 5/1/2020

     150,000        163,500  

5.15%, Due 3/15/2034

     350,000        316,750  

Chemours Co.,

     

6.63%, Due 5/15/2023

     200,000        214,000  

7.00%, Due 5/15/2025

     400,000        439,500  

Clearwater Paper Corp., 4.50%, Due 2/1/2023

     500,000        480,625  

Freeport-McMoRan, Inc., 3.55%, Due 3/1/2022

     450,000        423,000  

Hexion, Inc., 6.63%, Due 4/15/2020

     250,000        236,250  

Huntsman International LLC, 5.13%, Due 11/15/2022

     250,000        262,812  

Olin Corp., 5.13%, Due 9/15/2027

     500,000        520,625  

Platform Specialty Products Corp., 6.50%, Due 2/1/2022A

     375,000        384,375  

PQ Corp., 6.75%, Due 11/15/2022A

     100,000        108,499  

Tronox Finance LLC, 6.38%, Due 8/15/2020

     250,000        254,063  

United States Steel Corp.,

     

6.88%, Due 4/1/2021

     21,000        21,210  

8.38%, Due 7/1/2021A

     200,000        220,250  

7.50%, Due 3/15/2022

     50,000        50,875  
     

 

 

 
        4,774,709  
     

 

 

 

Communications - 10.36%

     

Block Communications, Inc., 6.88%, Due 2/15/2025A

     350,000        377,125  

Cable One, Inc., 5.75%, Due 6/15/2022A

     75,000        78,563  

Cablevision Systems Corp.,

     

7.75%, Due 4/15/2018

     250,000        261,562  

5.88%, Due 9/15/2022

     300,000        307,875  

CenturyLink, Inc.,

     

5.80%, Due 3/15/2022, Series T

     125,000        130,781  

7.50%, Due 4/1/2024, Series Y

     200,000        217,302  

Cequel Communications Holdings I LLC / Cequel Capital Corp., 5.13%, Due 12/15/2021A

     250,000        255,625  

DISH DBS Corp.,

     

5.13%, Due 5/1/2020

     250,000        261,250  

5.00%, Due 3/15/2023

     500,000        501,250  

Frontier Communications Corp.,

     

7.13%, Due 3/15/2019

     250,000        263,125  

8.88%, Due 9/15/2020

     75,000        79,172  

11.00%, Due 9/15/2025

     150,000        144,563  

Hughes Satellite Systems Corp., 5.25%, Due 8/1/2026A

     100,000        101,750  

Level 3 Financing, Inc., 5.38%, Due 1/15/2024

     400,000        415,736  

Match Group, Inc., 6.38%, Due 6/1/2024

     50,000        54,438  

Nielsen Finance LLC / Nielsen Finance Co., 5.00%, Due 4/15/2022A

     250,000        257,187  

Qwest Corp., 6.75%, Due 12/1/2021

     25,000        27,742  

Sinclair Television Group, Inc.,

     

5.38%, Due 4/1/2021

     250,000        257,187  

6.13%, Due 10/1/2022

     150,000        156,767  

Sirius XM Radio, Inc., 6.00%, Due 7/15/2024A

     250,000        267,500  

Sprint Communications, Inc., 6.00%, Due 11/15/2022

     425,000        442,797  

Sprint Corp., 7.25%, Due 9/15/2021

     750,000        820,312  

T-Mobile USA, Inc., 6.63%, Due 4/1/2023

     1,000,000        1,068,750  

Townsquare Media, Inc., 6.50%, Due 4/1/2023A

     100,000        101,125  

Univision Communications, Inc.,

     

5.13%, Due 5/15/2023A

     625,000        635,156  

5.13%, Due 2/15/2025A

     100,000        99,625  

Windstream Services LLC,

     

7.75%, Due 10/15/2020

     200,000        204,000  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Communications - 10.36% (continued)

     

Windstream Services LLC (continued)

     

6.38%, Due 8/1/2023

   $ 50,000      $ 44,125  
     

 

 

 
        7,832,390  
     

 

 

 

Consumer, Cyclical - 6.04%

     

Allison Transmission, Inc., 5.00%, Due 10/1/2024A

     150,000        152,813  

Ashton Woods USA LLC / Ashton Woods Finance Co., 6.88%, Due 2/15/2021A

     150,000        151,500  

CEC Entertainment, Inc., 8.00%, Due 2/15/2022

     350,000        365,480  

EMI Music Publishing Group North America Holdings, Inc., 7.63%, Due 6/15/2024A

     125,000        138,125  

Guitar Center, Inc., 6.50%, Due 4/15/2019A

     250,000        213,437  

Intrepid Aviation Group Holdings LLC / Intrepid Finance Co., 6.88%, Due 2/15/2019A

     250,000        238,750  

JC Penney Corp., Inc., 5.88%, Due 7/1/2023A

     150,000        151,500  

PetSmart, Inc., 7.13%, Due 3/15/2023A

     375,000        342,656  

Pinnacle Entertainment, Inc., 5.63%, Due 5/1/2024A

     125,000        129,063  

Rite Aid Corp.,

     

6.75%, Due 6/15/2021

     250,000        251,875  

6.13%, Due 4/1/2023A

     150,000        148,500  

Sabre GLBL, Inc., 5.25%, Due 11/15/2023A

     425,000        439,875  

Scientific Games International, Inc., 10.00%, Due 12/1/2022

     500,000        542,500  

Sonic Automotive, Inc., 6.13%, Due 3/15/2027A

     75,000        75,563  

Springs Industries, Inc., 6.25%, Due 6/1/2021

     375,000        386,719  

Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.50%, Due 6/1/2024

     275,000        272,937  

Tempur Sealy International, Inc., 5.63%, Due 10/15/2023

     25,000        25,550  

Tops Holding LLC / Tops Markets II Corp., 8.00%, Due 6/15/2022A

     200,000        175,000  

Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., 5.50%, Due 3/1/2025A

     350,000        362,250  
     

 

 

 
        4,564,093  
     

 

 

 

Consumer, Non-cyclical - 13.42%

     

Ahern Rentals, Inc., 7.38%, Due 5/15/2023A

     200,000        172,000  

Ashtead Capital, Inc., 5.63%, Due 10/1/2024A

     375,000        400,740  

Avon International Operations, Inc., 7.88%, Due 8/15/2022A

     100,000        107,500  

Brand Energy & Infrastructure Services, Inc., 8.50%, Due 12/1/2021A

     100,000        106,250  

Cardtronics, Inc., 5.13%, Due 8/1/2022

     250,000        255,000  

Cardtronics, Inc. / Cardtronics USA, Inc., 5.50%, Due 5/1/2025A

     200,000        204,250  

Central Garden & Pet Co., 6.13%, Due 11/15/2023

     225,000        240,188  

CHS/Community Health Systems, Inc.,

     

8.00%, Due 11/15/2019

     350,000        340,599  

7.13%, Due 7/15/2020

     100,000        89,750  

6.25%, Due 3/31/2023

     100,000        101,750  

Cott Beverages, Inc., 5.38%, Due 7/1/2022

     250,000        259,062  

Cott Holdings, Inc., 5.50%, Due 4/1/2025A

     175,000        178,063  

DaVita, Inc.,

     

5.75%, Due 8/15/2022

     100,000        103,625  

5.13%, Due 7/15/2024

     500,000        514,065  

Dean Foods Co., 6.50%, Due 3/15/2023A

     75,000        79,125  

Dole Food Co., Inc., 7.25%, Due 6/15/2025A

     50,000        51,813  

Eagle Holding Co. II LLC, 7.63%, Due 5/15/2022, PIKA

     250,000        254,687  

Gartner, Inc., 5.13%, Due 4/1/2025A

     75,000        77,625  

HCA, Inc.,

     

5.88%, Due 5/1/2023

     500,000        544,100  

5.38%, Due 2/1/2025

     100,000        104,125  

HealthSouth Corp., 5.75%, Due 11/1/2024

     400,000        407,500  

Herc Rentals, Inc., 7.50%, Due 6/1/2022A

     270,000        293,625  

Horizon Pharma, Inc., 6.63%, Due 5/1/2023

     40,000        39,550  

Horizon Pharma, Inc. / Horizon Pharma USA, Inc., 8.75%, Due 11/1/2024A

     75,000        78,094  

Kindred Healthcare, Inc., 6.38%, Due 4/15/2022

     400,000        386,500  

Kronos Acquisition Holdings, Inc., 9.00%, Due 8/15/2023A

     175,000        177,406  

LifePoint Health, Inc.,

     

5.88%, Due 12/1/2023

     25,000        25,813  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Consumer, Non-cyclical - 13.42% (continued)

 

5.38%, Due 5/1/2024A

   $ 150,000      $ 151,500  

MEDNAX, Inc., 5.25%, Due 12/1/2023A

     225,000        230,063  

Midas Intermediate Holdco II LLC / Midas Intermediate Holdco II Finance, Inc., 7.88%, Due 10/1/2022A

     200,000        208,500  

Monitronics International, Inc., 9.13%, Due 4/1/2020

     325,000        315,250  

Nature’s Bounty Co., 7.63%, Due 5/15/2021A

     400,000        425,000  

Post Holdings, Inc., 6.00%, Due 12/15/2022A

     500,000        533,750  

Spectrum Brands, Inc., 5.75%, Due 7/15/2025

     250,000        267,977  

Tenet Healthcare Corp.,

     

5.00%, Due 3/1/2019

     250,000        250,470  

4.75%, Due 6/1/2020

     200,000        203,000  

6.75%, Due 6/15/2023

     200,000        191,000  

United Rentals North America, Inc.,

     

5.75%, Due 11/15/2024

     150,000        158,625  

5.50%, Due 7/15/2025

     250,000        261,482  

5.50%, Due 5/15/2027

     200,000        205,750  

Universal Health Services, Inc., 4.75%, Due 8/1/2022A

     350,000        359,856  

Universal Hospital Services, Inc., 7.63%, Due 8/15/2020

     450,000        456,187  

Vector Group Ltd., 6.13%, Due 2/1/2025A

     325,000        336,375  
     

 

 

 
        10,147,590  
     

 

 

 

Energy - 10.89%

     

Antero Resources Corp., 5.13%, Due 12/1/2022

     300,000        304,500  

Archrock Partners LP / Archrock Partners Finance Corp., 6.00%, Due 4/1/2021

     250,000        250,625  

Bristow Group, Inc., 6.25%, Due 10/15/2022

     350,000        288,750  

Calfrac Holdings LP, 7.50%, Due 12/1/2020A

     175,000        160,562  

California Resources Corp., 8.00%, Due 12/15/2022A

     300,000        229,500  

Callon Petroleum Co., 6.13%, Due 10/1/2024A

     50,000        52,375  

Carrizo Oil & Gas, Inc., 7.50%, Due 9/15/2020

     250,000        257,500  

Chesapeake Energy Corp.,

     

6.63%, Due 8/15/2020

     95,000        95,950  

8.00%, Due 12/15/2022A

     50,000        52,688  

5.75%, Due 3/15/2023

     125,000        116,250  

CONSOL Energy, Inc., 5.88%, Due 4/15/2022

     250,000        243,750  

Continental Resources, Inc.,

     

5.00%, Due 9/15/2022

     100,000        100,875  

4.90%, Due 6/1/2044

     250,000        216,875  

Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp.,
6.25%, Due 4/1/2023

     200,000        208,750  

CSI Compressco LP / CSI Compressco Finance, Inc., 7.25%, Due 8/15/2022

     425,000        413,312  

Denbury Resources, Inc., 5.50%, Due 5/1/2022

     100,000        74,500  

EP Energy LLC / Everest Acquisition Finance, Inc., 9.38%, Due 5/1/2020

     200,000        189,250  

FTS International, Inc., 8.63%, Due 6/15/2020AB

     250,000        252,500  

Genesis Energy LP / Genesis Energy Finance Corp., 5.63%, Due 6/15/2024

     400,000        393,000  

Hilcorp Energy I LP / Hilcorp Finance Co., 5.00%, Due 12/1/2024A

     250,000        234,375  

Jones Energy Holdings LLC / Jones Energy Finance Corp., 6.75%, Due 4/1/2022

     350,000        294,000  

Laredo Petroleum, Inc., 5.63%, Due 1/15/2022

     250,000        250,000  

Lonestar Resources America, Inc., 8.75%, Due 4/15/2019A

     150,000        131,250  

Murphy Oil USA, Inc., 5.63%, Due 5/1/2027

     575,000        589,375  

Nabors Industries, Inc., 5.50%, Due 1/15/2023A

     325,000        328,656  

Parker Drilling Co., 6.75%, Due 7/15/2022

     250,000        220,625  

Parsley Energy LLC / Parsley Finance Corp., 5.38%, Due 1/15/2025A

     200,000        202,000  

Peabody Securities Finance Corp.,

     

6.00%, Due 3/31/2022A

     75,000        76,500  

6.38%, Due 3/31/2025A

     75,000        76,125  

Pioneer Energy Services Corp., 6.13%, Due 3/15/2022

     100,000        90,750  

QEP Resources, Inc., 6.88%, Due 3/1/2021

     250,000        263,750  

Sanchez Energy Corp., 6.13%, Due 1/15/2023

     100,000        91,999  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Energy - 10.89% (continued)

 

SM Energy Co.,

   $ 175,000      $ 167,125  

5.63%, Due 6/1/2025

     

6.75%, Due 9/15/2026

     100,000        100,750  

Southwestern Energy Co., 5.80%, Due 1/23/2020

     150,000        151,500  

Summit Midstream Holdings LLC / Summit Midstream Finance Corp., 5.50%, Due 8/15/2022

     125,000        125,313  

Sunoco LP / Sunoco Finance Corp., 6.38%, Due 4/1/2023

     125,000        133,125  

Tesoro Corp., 5.13%, Due 12/15/2026A

     225,000        239,625  

Unit Corp., 6.63%, Due 5/15/2021

     300,000        298,500  

WPX Energy, Inc., 7.50%, Due 8/1/2020

     250,000        265,000  
     

 

 

 
        8,231,855  
     

 

 

 

Financial - 6.01%

     

Ally Financial, Inc., 5.13%, Due 9/30/2024

     600,000        612,750  

Credit Acceptance Corp., 6.13%, Due 2/15/2021

     375,000        373,125  

CyrusOne LP / CyrusOne Finance Corp.,

     

5.00%, Due 3/15/2024A

     100,000        102,750  

5.38%, Due 3/15/2027A

     125,000        128,750  

Equinix, Inc.,

     

5.38%, Due 1/1/2022

     250,000        264,375  

5.88%, Due 1/15/2026

     250,000        269,375  

FelCor Lodging LP, 5.63%, Due 3/1/2023

     375,000        394,729  

Icahn Enterprises LP / Icahn Enterprises Finance Corp.,

     

6.00%, Due 8/1/2020

     300,000        310,500  

6.25%, Due 2/1/2022A

     100,000        104,000  

iStar, Inc., 6.00%, Due 4/1/2022

     75,000        76,875  

Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp., 5.88%, Due 8/1/2021A

     90,000        91,350  

OneMain Financial Holdings LLC, 6.75%, Due 12/15/2019A

     400,000        420,500  

RHP Hotel Properties LP / RHP Finance Corp., 5.00%, Due 4/15/2023

     350,000        357,000  

SBA Communications Corp., 4.88%, Due 7/15/2022

     400,000        412,000  

Springleaf Finance Corp., 5.25%, Due 12/15/2019

     300,000        304,563  

Uniti Group, Inc. / CSL Capital LLC, 8.25%, Due 10/15/2023

     300,000        320,157  
     

 

 

 
        4,542,799  
     

 

 

 

Industrial - 3.08%

     

Gibraltar Industries, Inc., 6.25%, Due 2/1/2021

     250,000        258,625  

Grinding Media, Inc. / MC Grinding Media Canada, Inc., 7.38%, Due 12/15/2023A

     200,000        213,360  

Ingram Micro, Inc., 5.45%, Due 12/15/2024

     200,000        200,735  

NCI Building Systems, Inc., 8.25%, Due 1/15/2023A

     250,000        272,500  

Novelis Corp., 5.88%, Due 9/30/2026A

     125,000        128,437  

Standard Industries, Inc., 5.38%, Due 11/15/2024A

     250,000        260,625  

TransDigm, Inc., 6.00%, Due 7/15/2022

     400,000        412,000  

Tutor Perini Corp., 6.88%, Due 5/1/2025A

     250,000        262,500  

XPO Logistics, Inc., 6.50%, Due 6/15/2022A

     300,000        317,625  
     

 

 

 
        2,326,407  
     

 

 

 

Technology - 3.58%

     

Advanced Micro Devices, Inc., 7.00%, Due 7/1/2024

     400,000        425,500  

BMC Software Finance, Inc., 8.13%, Due 7/15/2021A

     250,000        254,220  

Entegris, Inc., 6.00%, Due 4/1/2022A

     250,000        260,625  

First Data Corp., 7.00%, Due 12/1/2023A

     425,000        455,685  

Infor Software Parent LLC / Infor Software Parent, Inc., 7.13%, Due 5/1/2021, PIKA

     150,000        153,300  

Micron Technology, Inc., 5.50%, Due 2/1/2025

     33,000        34,485  

NCR Corp., 5.00%, Due 7/15/2022

     225,000        229,500  

Solera LLC / Solera Finance, Inc., 10.50%, Due 3/1/2024A

     300,000        342,375  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Technology - 3.58% (continued)

 

Western Digital Corp., 7.38%, Due 4/1/2023A

   $ 500,000      $ 547,500  
     

 

 

 
        2,703,190  
     

 

 

 

Utilities - 1.89%

 

AES Corp.,

     

5.50%, Due 3/15/2024

     250,000        256,875  

6.00%, Due 5/15/2026

     125,000        131,875  

Calpine Corp., 5.38%, Due 1/15/2023

     300,000        295,500  

Dynegy, Inc., 7.38%, Due 11/1/2022

     250,000        239,375  

NRG Energy, Inc.,

     

6.25%, Due 7/15/2022

     100,000        101,881  

6.63%, Due 3/15/2023

     400,000        406,000  
     

 

 

 
        1,431,506  
     

 

 

 

Total Corporate Obligations (Cost $45,568,562)

        46,554,539  
     

 

 

 

BANK LOAN OBLIGATIONS - 14.71%

     

Consumer - 1.05%

 

Caesars Entertainment Resort Properties, LLC, 7.00%, Due 10/11/2020, Term Loan BC

     59,666        59,778  

Casablanca US Holdings, Inc., 5.90%, Due 3/15/2024, 1st Lien Term LoanC

     30,000        29,850  

Getty Images, Inc., 4.75%, Due 10/18/2019, Term Loan BC

     40,311        35,607  

iHeartCommunications, Inc., 7.74%, Due 1/30/2019, Term Loan DC

     92,956        79,078  

J.C. Penney Corporation, Inc., 5.30%, Due 6/23/2023, 2016 Term Loan BC

     65,806        65,683  

Revlon Consumer Products Corporation, 4.49%, Due 9/7/2023, 2016 Term Loan BC

     57,696        57,754  

RSC Acquisition, Inc., 6.40%, Due 11/30/2022, Term LoanC

     246,892        243,189  

Shearer’s Foods, Inc.,

     

5.08%, Due 6/30/2021, 1st Lien Term LoanC

     44,538        44,612  

5.40%, Due 6/30/2021, Incremental Term LoanC

     9,875        9,900  

Strategic Partners, Inc., 5.50%, Due 6/30/2023, 2016 Term LoanC

     119,700        120,598  

Varsity Brands, Inc., 5.00%, Due 12/11/2021, 1st Lien Term LoanC

     51,078        51,334  
     

 

 

 
        797,383  
     

 

 

 

Energy - 0.62%

 

California Resources Corporation, 11.38%, Due 12/31/2021, Second Out Term LoanC

     10,838        11,908  

Chesapeake Energy Corporation, 8.55%, Due 8/23/2021, Term LoanC

     41,681        45,002  

Chief Exploration & Development, LLC, 7.93%, Due 5/16/2021, 2nd Lien Term LoanC

     250,000        240,000  

Citgo Petroleum Corporation, 4.65%, Due 7/29/2021, New Term Loan BC

     124,680        125,304  

Energy & Exploration Partners, Inc., 5.00%, Due 5/13/2022, 2016 2nd Lien PIK Term LoanC

     6,195        2,788  

MEG Energy Corp., 4.63%, Due 12/31/2023, 2017 Term Loan BC

     20,249        20,259  

Peabody Energy Corporation, 5.50%, Due 3/31/2022, Exit Term LoanC

     20,000        20,050  
     

 

 

 
        465,311  
     

 

 

 

Financial - 2.26%

 

Acrisure, LLC, 5.90%, Due 11/22/2023, 2016 Term Loan BC

     58,451        58,597  

Americold Realty Operating Partnership, L.P., 4.75%, Due 12/1/2022, 2016 Term Loan BC

     79,876        80,625  

Ascensus, Inc., 5.02%, Due 12/3/2022, 2017 Term LoanC

     45,757        46,100  

AssuredPartners, Inc., 5.25%, Due 10/21/2022, 2016 Term Loan BC

     172,821        173,722  

Asurion LLC, 4.25%, Due 8/4/2022, New Term Loan B4C

     167,424        168,435  

Capital Automotive L.P., 7.00%, Due 3/24/2025, 2017 2nd Lien Term LoanC

     125,000        127,500  

Cision US Inc., 7.15%, Due 6/16/2023, Term Loan BC

     99,250        99,829  

Edgewood Partners Insurance Center, 6.00%, Due 3/16/2023, 2017 1st Lien Term Loan BC

     49,000        49,000  

Endo Luxembourg Finance Company I S.a r.l., 5.00%, Due 4/29/2024, 2017 Term Loan BC

     125,000        125,937  

Higginbotham & Associates, LLC, 6.00%, Due 11/25/2021, 1st Lien Term LoanC

     207,500        208,019  

IG Investment Holdings, LLC, 6.15%, Due 10/29/2021, Term Loan BC

     244,260        245,635  

Istar, Inc., 4.75%, Due 7/1/2020, 2016 Term Loan BC

     84,828        85,570  

MPH Acquisition Holdings LLC, 4.90%, Due 6/7/2023, 2016 Term Loan BC

     103,788        105,104  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Financial - 2.26% (continued)

     

USIC Holdings, Inc., 5.17%, Due 12/8/2023, 2016 1st Lien Term LoanC

   $ 131,691      $ 132,514  
     

 

 

 
        1,706,587  
     

 

 

 

Health Care - 1.00%

     

Affordable Care Holding Corp., 5.75%, Due 10/22/2022, 2015 1st Lien Term LoanC

     49,375        49,375  

Air Methods Corporation, 4.50%, Due 4/5/2024, 2017 Term Loan BC

     125,000        124,844  

Amneal Pharmaceuticals LLC, 4.65%, Due 11/1/2019, New Term LoanC

     65,340        65,891  

Curo Health Services Holdings, Inc., 5.79%, Due 2/7/2022, 2015 1st Lien Term LoanC

     114,989        115,707  

inVentiv Health, Inc., 4.80%, Due 11/9/2023, 2016 Term Loan BC

     83,835        84,266  

Onex Carestream Finance LP, 5.15%, Due 6/7/2019, 1st Lien Term LoanC

     120,471        119,397  

Press Ganey Holdings, Inc., 4.25%, Due 10/21/2023, 1st Lien Term LoanC

     37,573        37,573  

Prospect Medical Holdings, Inc., 7.06%, Due 6/30/2022, Term LoanC

     74,438        75,182  

Valeant Pharmaceuticals International, Inc., 5.74%, Due 4/1/2022, Term Loan B F1C

     84,801        85,287  
     

 

 

 
        757,522  
     

 

 

 

Manufacturing - 2.95%

     

American Bath Group, LLC,

     

6.40%, Due 9/30/2023, 2017 1st Lien Add-On Term LoanC

     225,848        228,294  

6.40%, Due 9/30/2023, 2017 Term Loan BC

     23,526        23,781  

Anchor Glass Container Corporation, 8.75%, Due 12/7/2024, 2016 2nd Lien Term LoanC

     27,185        27,660  

ASP Chromaflo Dutch I B.V., 5.00%, Due 11/18/2023, Term Loan B2C

     70,483        70,792  

ASP Chromaflo Intermediate Holdings, Inc., 5.00%, Due 11/18/2023, Term Loan B1C

     54,204        54,442  

Avantor Performance Materials Holdings, LLC,

     

5.00%, Due 3/10/2024, 2017 1st Lien Term LoanC

     19,192        19,372  

5.00%, Due 3/10/2024, 2017 Delayed Draw Term LoanC

     808        816  

Avast Software B.V., 4.40%, Due 9/30/2023, 2017 USD Term Loan BC

     103,441        104,389  

BMC Software Finance, Inc., 5.00%, Due 9/10/2020, USD Term LoanC

     112,365        112,962  

BWAY Holding Company, 3.25%, Due 4/3/2024, 2017 Term Loan BC

     40,000        39,736  

Cortes NP Acquisition Corporation, 5.03%, Due 11/30/2023, 2017 Term Loan BC

     100,492        101,078  

CPG International Inc., 4.90%, Due 9/30/2020, New Term LoanC

     147,781        148,428  

Emerald Performance Materials, LLC, 4.50%, Due 8/1/2021, New 1st Lien Term LoanC

     124,920        125,389  

Flex Acquisition Company, Inc., 4.40%, Due 12/29/2023, 1st Lien Term LoanC

     125,000        125,547  

Global Brass & Copper, Inc., 5.25%, Due 7/18/2023, 2016 Term Loan BC

     48,139        48,651  

MacDermid, Inc., 4.50%, Due 6/7/2020, Term Loan B5C

     42,706        42,896  

Munters Corporation, 6.27%, Due 5/5/2021, Term LoanC

     36,700        36,792  

Netsmart Technologies, Inc.,

     

5.75%, Due 4/19/2023, 1st Lien Term LoanC

     40,000        40,200  

5.65%, Due 4/19/2023, Term Loan C1C

     39,800        39,998  

PLZ Aeroscience Corporation, 4.64%, Due 7/31/2022, Term LoanC

     39,899        40,098  

PQ Corporation, 5.25%, Due 11/4/2022, 2016 Term LoanC

     141,433        143,075  

Quikrete Holdings, Inc., 4.24%, Due 11/15/2023, 2016 1st Lien Term LoanC

     124,688        124,870  

Road Infrastructure Investment, LLC, 4.50%, Due 6/13/2023, 2016 1st Lien Term LoanC

     77,615        78,080  

SHO Holding I Corporation, 6.00%, Due 10/27/2022, Term LoanC

     246,875        245,641  

Tank Holding Corp., 5.25%, Due 3/16/2022, Refi Term LoanC

     87,391        87,391  

UTEX Industries Inc., 5.00%, Due 5/22/2021, 1st Lien Term loan 2014C

     47,906        44,164  

Vencore, Inc., 5.90%, Due 11/23/2019, 1st Lien Term LoanC

     74,409        74,935  
     

 

 

 
        2,229,477  
     

 

 

 

Service - 3.23%

     

Academy, Ltd., 5.12%, Due 7/1/2022, 2015 Term Loan BC

     23,649        16,259  

Acosta Holdco, Inc., 4.25%, Due 9/26/2021, 2015 Term LoanC

     25,242        23,464  

ADMI Corp., 4.87%, Due 4/30/2022, 2015 Term Loan BC

     41,455        41,662  

ATI Holdings Acquisition, Inc., 5.65%, Due 5/10/2023, 2016 Term LoanC

     100,142        101,060  

Bass Pro Group, LLC, 6.15%, Due 12/16/2023, Term Loan BC

     51,028        49,653  

BioClinica, Inc., 5.38%, Due 10/20/2023, 1st Lien Term LoanC

     86,461        87,002  

BJ’s Wholesale Club, Inc., 4.75%, Due 2/3/2024, 2017 1st Lien Term LoanC

     24,405        24,293  

Brickman Group Ltd. LLC, 7.50%, Due 12/17/2021, 2nd Lien Term LoanC

     125,000        125,547  

California Pizza Kitchen, Inc., 7.00%, Due 8/23/2022, 2016 Term LoanC

     248,750        248,335  

Doosan Infracore International, Inc., 4.50%, Due 5/28/2021, Term Loan BC

     55,772        56,400  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Service - 3.23% (continued)

     

EMI Music Publishing Limited, 3.74%, Due 8/22/2022, New Term Loan BC

   $ 21      $ 21  

Engility Corporation, 4.75%, Due 8/12/2023, Term Loan B2C

     35,353        35,574  

Fort Dearborn Company, 5.15%, Due 10/19/2023, 2016 1st Lien Term LoanC

     67,223        67,895  

Jo-Ann Stores, Inc., 6.39%, Due 10/20/2023, 2016 Term LoanC

     13,392        13,336  

Mister Car Wash Holdings, Inc.,

     

5.27%, Due 8/20/2021, Delayed Draw Term LoanC

     9,974        10,024  

Mister Car Wash Holdings, Inc. (continued)

     

5.25%, Due 8/20/2021, Term Loan BC

     114,578        115,151  

Neiman Marcus Group Ltd LLC, 4.25%, Due 10/25/2020, 2020 Term LoanC

     36,610        29,166  

NMSC Holdings, Inc., 6.15%, Due 4/19/2023, 1st Lien Term LoanC

     73,351        73,167  

Paradigm Acquisition Corp., 6.00%, Due 6/2/2022, Term LoanC

     229,680        229,393  

Petco Animal Supplies, Inc., 4.17%, Due 1/26/2023, 2017 Term Loan BC

     36,485        32,962  

Playpower, Inc., 5.90%, Due 6/23/2021, 2015 1st Lien Term LoanC

     246,859        246,859  

Rentpath, Inc., 6.25%, Due 12/17/2021, 1st Lien Term LoanC

     120,327        118,723  

Scientific Games International, Inc., 4.99%, Due 10/1/2021, 2017 Term Loan B3C

     117,494        119,201  

Tribune Media Company,

     

3.99%, Due 12/27/2020, Term LoanC

     4,450        4,476  

3.99%, Due 1/27/2024, Term Loan CC

     55,601        55,914  

USAGM HoldCo LLC, 4.79%, Due 7/28/2022, 2015 Term LoanC

     162,938        163,467  

Vestcom Parent Holdings, Inc., 5.25%, Due 12/19/2023, 2016 1st Lien Term LoanC

     126,246        126,877  

Vistage Worldwide, Inc, 6.50%, Due 8/19/2021, Term Loan BC

     100,000        100,250  

William Morris Endeavor Entertainment, LLC, 4.25%, Due 5/6/2021, 1st Lien Term LoanC

     123,049        123,691  
     

 

 

 
        2,439,822  
     

 

 

 

Technology - 1.81%

     

Compuware Corporation, 5.25%, Due 12/15/2021, Term Loan B3C

     107,322        107,725  

Epicor Software Corporation, 4.75%, Due 6/1/2022, 1st Lien Term LoanC

     233,012        232,648  

Magic Newco LLC, 5.00%, Due 12/12/2018, 1st Lien Term LoanC

     238,561        238,773  

Misys Europe SA,

     

4.50%, Due 4/27/2024, USD 1st Lien Term LoanC

     125,000        124,375  

8.25%, Due 4/27/2025, USD 2nd Lien Term LoanC

     7,000        6,930  

Omnitracs, Inc., 4.90%, Due 11/25/2020, 1st Lien Term LoanC

     61,991        62,495  

SMS Systems Maintenance Services, Inc., 6.00%, Due 10/30/2023, 2016 1st Lien Term LoanC

     124,688        125,155  

Sophia, L.P., 4.40%, Due 9/30/2022, 2017 Term Loan BC

     95,699        95,532  

Survey Sampling International, LLC,

     

6.15%, Due 12/4/2020, 1st Lien Term Loan BC

     122,500        122,500  

10.15%, Due 12/4/2021, 2nd Lien Term LoanC

     125,000        122,500  

Triple Point Technology, Inc., 5.40%, Due 7/10/2020, 1st Lien Term LoanC

     84,735        79,933  

WEX Inc., 4.49%, Due 7/1/2023, Term Loan BC

     48,110        48,576  
     

 

 

 
        1,367,142  
     

 

 

 

Telecommunications - 0.48%

     

Altice US Finance I Corporation, 3.25%, Due 1/25/2025, 2017 Incremental Term LoanC

     125,000        124,870  

LTS Buyer LLC, 4.40%, Due 4/13/2020, 1st Lien Term LoanC

     24,554        24,619  

Merrill Communications, LLC, 6.42%, Due 6/1/2022, 2015 Term LoanC

     89,456        89,307  

NeuStar, Inc., 4.75%, Due 2/28/2024, Term Loan B2C

     125,000        126,615  
     

 

 

 
        365,411  
     

 

 

 

Transportation - 0.32%

     

American Tire Distributors Holdings, Inc., 5.25%, Due 9/1/2021, 2015 Term LoanC

     241,285        241,437  
     

 

 

 
        241,437  
     

 

 

 

Utilities - 0.99%

     

Helix Gen Funding, LLC, 4.75%, Due 2/23/2024, Term Loan BC

     135,468        136,688  

Murray Energy Corporation, 8.40%, Due 4/16/2020, Term Loan B2C

     45,928        43,798  

Nautilus Power, LLC, 5.50%, Due 4/26/2024, Term Loan BC

     125,000        123,750  

Talen Energy Supply, LLC, 5.00%, Due 4/15/2024, 2017 Term Loan B2C

     125,000        123,906  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Utilities - 0.99% (continued)

     

TPF II Power, LLC, 5.00%, Due 10/2/2023, Term Loan BC

   $ 317,156      $ 318,941  
     

 

 

 
        747,083  
     

 

 

 

Total Bank Loan Obligations (Cost $11,082,154)

        11,117,175  
     

 

 

 

FOREIGN CORPORATE OBLIGATIONS - 13.52%

     

BASIC MATERIALS - 2.93%

     

Alcoa Nederland Holding B.V., 7.00%, Due 9/30/2026A

     200,000        221,000  

Constellium N.V., 5.75%, Due 5/15/2024A

     100,000        93,750  

First Quantum Minerals Ltd.,

     

7.25%, Due 4/1/2023A

     200,000        203,625  

7.50%, Due 4/1/2025A

     150,000        153,000  

FMG Resources August 2006 Pty Ltd.,

     

9.75%, Due 3/1/2022A

     100,000        115,062  

6.88%, Due 4/1/2022A

     100,000        103,563  

Hudbay Minerals, Inc., 7.25%, Due 1/15/2023A

     400,000        425,500  

INEOS Group Holdings S.A., 5.63%, Due 8/1/2024A

     250,000        254,375  

New Gold, Inc., 6.25%, Due 11/15/2022A

     400,000        408,000  

Perstorp Holding AB, 8.50%, Due 6/30/2021A

     225,000        237,937  
     

 

 

 
        2,215,812  
     

 

 

 

COMMUNICATIONS - 2.90%

     

Altice Luxembourg S.A., 7.75%, Due 5/15/2022A

     400,000        425,052  

SFR Group S.A., 6.00%, Due 5/15/2022A

     350,000        364,875  

Telecom Italia SpA/Milano, 5.30%, Due 5/30/2024A

     400,000        414,000  

Virgin Media Finance PLC, 6.38%, Due 4/15/2023A

     500,000        524,375  

VTR Finance B.V., 6.88%, Due 1/15/2024A

     290,000        308,125  

Ziggo Bond Finance B.V., 6.00%, Due 1/15/2027A

     150,000        153,000  
     

 

 

 
        2,189,427  
     

 

 

 

CONSUMER, CYCLICAL - 1.66%

     

Fiat Chrysler Automobiles N.V., 5.25%, Due 4/15/2023

     150,000        154,125  

International Game Technology PLC, 6.50%, Due 2/15/2025A

     500,000        547,500  

Silversea Cruise Finance Ltd., 7.25%, Due 2/1/2025A

     250,000        265,000  

Viking Cruises Ltd., 6.25%, Due 5/15/2025A

     300,000        288,750  
     

 

 

 
        1,255,375  
     

 

 

 

CONSUMER, NON-CYCLICAL - 1.27%

     

Clearwater Seafoods, Inc., 6.88%, Due 5/1/2025A

     100,000        103,500  

Endo Ltd. / Endo Finance LLC / Endo Finco, Inc., 6.00%, Due 7/15/2023A

     200,000        175,250  

IHS Markit Ltd., 5.00%, Due 11/1/2022A

     325,000        347,344  

Mallinckrodt International Finance S.A. / Mallinckrodt CB LLC, 5.63%, Due 10/15/2023A

     350,000        334,250  
     

 

 

 
        960,344  
     

 

 

 

ENERGY - 1.36%

     

Transocean, Inc., 8.13%, Due 12/15/2021

     500,000        520,000  

Weatherford International Ltd., 5.13%, Due 9/15/2020

     500,000        504,100  
     

 

 

 
        1,024,100  
     

 

 

 

FINANCIAL - 1.37%

     

Dana Financing Luxembourg Sarl, 5.75%, Due 4/15/2025A

     250,000        256,095  

Fly Leasing Ltd., 6.75%, Due 12/15/2020

     500,000        525,000  

Royal Bank of Scotland Group PLC, 4.70%, Due 7/3/2018

     250,000        255,962  
     

 

 

 
        1,037,057  
     

 

 

 

INDUSTRIAL - 1.54%

     

Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.,

     

4.63%, Due 5/15/2023A

     50,000        51,063  

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

INDUSTRIAL - 1.54% (continued)

     

7.25%, Due 5/15/2024A

   $ 500,000      $ 544,375  

Bombardier, Inc., 6.00%, Due 10/15/2022A

     350,000        349,125  

Coveris Holdings S.A., 7.88%, Due 11/1/2019A

     225,000        222,187  
     

 

 

 
        1,166,750  
     

 

 

 

TECHNOLOGY - 0.49%

     

Open Text Corp., 5.88%, Due 6/1/2026A

     350,000        373,625  
     

 

 

 

Total Foreign Corporate Obligations (Cost $9,967,975)

        10,222,490  
     

 

 

 
     Shares         

COMMON STOCKS - 0.01%

     

ENERGY - 0.00%

     

Oil, Gas & Consumable Fuels - 0.00%

     

Energy & Exploration Partners, Inc.D

     3        —    
     

 

 

 

HEALTH CARE - 0.01%

     

Pharmaceuticals - 0.01%

     

Millennium Health, LLC

     4,651        5,349  
     

 

 

 

Total Common Stocks (Cost $26,255)

        5,349  
     

 

 

 

SHORT-TERM INVESTMENTS - 9.30% (Cost $7,029,382)

     

American Beacon U.S. Government Money Market Select Fund, Select Class, 0.69%E

     7,029,382        7,029,382  
     

 

 

 

TOTAL INVESTMENTS - 99.13% (Cost $73,674,328)

        74,928,935  

OTHER ASSETS, NET OF LIABILITIES - 0.87%

        656,626  
     

 

 

 

TOTAL NET ASSETS - 100.00%

      $ 75,585,561  
     

 

 

 

Percentages are stated as a percent of net assets.

 

 

A  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 $25,165,095 or 33.3% of net assets. The Fund has no right to demand registration of these securities.
B  The coupon rate shown on floating or adjustable rate securities represents the rate at period end. The due date on these types of securities reflects the final maturity date.
C  Term Loan.
D  Fair valued pursuant to procedures approved by the Board of Trustees. At period end, the value of these securities amount to $0 or 0.00% of net assets.
E  The Fund is affiliated by having the same investment advisor.

LLC - Limited Liability Company.

LLLP - Limited Liability Limited Partnership.

LP - Limited Partnership.

PIK Payment in Kind.

PLC - Public Limited Company.

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of April 30, 2017, the investments were classified as described below:

 

Crescent Short Duration High Income Fund

   Level 1      Level 2      Level 3      Total  

Assets

           

Corporate Obligations

   $ —        $ 46,554,539      $ —        $ 46,554,539  

Bank Loan Obligations

     —          11,117,175        —          11,117,175  

Foreign Corporate Obligations

     —          10,222,490        —          10,222,490  

Common Stocks

     5,349        —          —          5,349  

Short-Term Investments - Money Market Funds

     7,029,382        —          —          7,029,382  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments in Securities - Assets

   $ 7,034,731      $ 67,894,204      $ —        $ 74,928,935  
  

 

 

    

 

 

    

 

 

    

 

 

 

U.S. GAAP also requires all transfers between any level to be disclosed. The end of period timing recognition has been adopted for the transfers between levels of the Fund’s assets and liabilities. During the period ended April 30, 2017, there were no transfers between levels.

 

See accompanying notes.

 


American Beacon Crescent Short Duration High Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Top Ten Holdings (% Net Assets)

        

T-Mobile USA, Inc.

           1.4  

Sprint Corp.

           1.1  

Univision Communications, Inc.

           0.8  

Ally Financial, Inc.

           0.8  

Murphy Oil USA, Inc.

           0.8  

International Game Technology PLC

           0.7  

Western Digital Corp.

           0.7  

Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc.

           0.7  

HCA, Inc.

           0.7  

Scientific Games International, Inc.

           0.7  

Total Fund Holdings

     341                         

Sector Weightings (% Investments)

        

Consumer, Non-cyclical

           14.8  

Communications

           13.4  

Energy

           13.0  

Financial

           9.7  

Other

           9.4  

Basic Materials

           9.3  

Consumer, Cyclical

           7.8  

Technology

           5.9  

Industrial

           4.7  

Service

           3.2  

Manufacturing

           3.0  

Utilities

           2.9  

Consumer

           1.1  

Health Care

           1.0  

Telecommunications

           0.5  

Transportation

           0.3  

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Brazil - 2.81%

     

Foreign Corporate Obligations - 0.37%

     

Itau Unibanco Holding S.A., 2.850%, Due 5/26/2018A

   $ 1,600,000      $ 1,604,800  

Foreign Sovereign Obligations - 2.44%

     

Banco Nacional de Desenvolvimento Economico e Social,

     

4.00%, Due 4/14/2019A

     1,000,000        1,019,200  

6.37%, Due 6/16/2018A

     9,195,000        9,574,294  
     

 

 

 
        10,593,494  
     

 

 

 

Total Brazil (Cost $12,207,469)

        12,198,294  
     

 

 

 

British Virgin Islands - 2.51%

     

Foreign Corporate Obligations - 2.51%

     

CNOOC Finance 2013 Ltd., 1.750%, Due 5/9/2018

     3,534,000        3,523,783  

CNPC General Capital Ltd.,

     

1.95%, Due 11/25/2017A

     500,000        500,561  

2.75%, Due 5/14/2019A

     4,850,000        4,891,276  

Sinopec Group Overseas Development 2013 Ltd., 2.500%, Due 10/17/2018A

     1,500,000        1,507,893  

Sinopec Group Overseas Development 2014 Ltd., 2.750%, Due 4/10/2019A

     250,000        252,221  

Sinopec Group Overseas Development 2016 Ltd., 2.125%, Due 5/3/2019A

     250,000        248,933  
     

 

 

 

Total British Virgin Islands (Cost $10,937,877)

        10,924,667  
     

 

 

 

Chile - 0.82%

     

Foreign Corporate Obligations - 0.82%

     

Banco del Estado de Chile, 2.000%, Due 11/9/2017A

     1,800,000        1,802,196  

Itau CorpBanca, 3.125%, Due 1/15/2018

     1,750,000        1,760,525  
     

 

 

 

Total Chile (Cost $3,568,810)

        3,562,721  
     

 

 

 

Colombia - 0.47% (Cost $2,046,810)

     

Foreign Government Obligations - 0.47%

     

Colombia Government International Bond, 7.375%, Due 3/18/2019

     1,875,000        2,062,500  
     

 

 

 

India - 1.12%

     

Foreign Corporate Obligations - 1.12%

     

ICICI Bank Ltd/Dubai,

     

4.70%, Due 2/21/2018A

     1,200,000        1,224,550  

4.80%, Due 5/22/2019A

     3,000,000        3,128,610  

State Bank of India, 3.622%, Due 4/17/2019A

     500,000        510,064  
     

 

 

 

Total India (Cost $4,876,299)

        4,863,224  
     

 

 

 

Indonesia - 1.43% (Cost $6,212,553)

     

Foreign Government Obligations - 1.43%

     

Indonesia Government International Bond, 11.625%, Due 3/4/2019A

     5,300,000        6,232,800  
     

 

 

 

Israel - 1.03% (Cost $4,462,853)

     

Foreign Corporate Obligations - 1.03%

     

Israel Electric Corp. Ltd., 5.625%, Due 6/21/2018A

     4,300,000        4,463,056  
     

 

 

 

Kazakhstan - 1.01% (Cost $4,379,424)

     

Foreign Corporate Obligations - 1.01%

     

KazMunayGas National Co. JSC, 9.125%, Due 7/2/2018A

     4,075,000        4,377,365  
     

 

 

 

Mexico - 5.22%

     

Foreign Corporate Obligations - 5.22%

     

Petroleos Mexicanos,

     

5.75%, Due 3/1/2018

     3,000,000        3,090,510  

6.00%, Due 3/5/2020

     9,200,000        9,903,800  

3.50%, Due 7/18/2018

     1,000,000        1,015,700  

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

     Principal Amount      Fair Value  

Mexico - 5.22% (continued)

     

Foreign Corporate Obligations - 5.22% (continued)

     

Petroleos Mexicanos (continued)

     

5.50%, Due 2/4/2019

   $ 8,300,000      $ 8,681,800  
     

 

 

 

Total Mexico (Cost $22,624,482)

        22,691,810  
     

 

 

 

Netherlands - 3.51%

     

Foreign Corporate Obligations - 3.51%

     

Majapahit Holding B.V.,

     

7.25%, Due 6/28/2017A

     14,425,000        14,533,187  

8.00%, Due 8/7/2019A

     650,000        727,155  
     

 

 

 

Total Netherlands (Cost $15,283,517)

        15,260,342  
     

 

 

 

South Africa - 3.96%

     

Foreign Government Obligations - 3.96%

     

Republic of South Africa Government International Bond,

     

6.88%, Due 5/27/2019

     7,750,000        8,389,685  

5.50%, Due 3/9/2020

     8,300,000        8,809,686  
     

 

 

 

Total South Africa (Cost $17,306,347)

        17,199,371  
     

 

 

 

Turkey - 6.13%

     

Foreign Government Obligations - 6.13%

     

Turkey Government International Bond,

     

6.75%, Due 4/3/2018

     21,350,000        22,167,705  

7.50%, Due 7/14/2017

     4,200,000        4,250,820  

7.50%, Due 11/7/2019

     180,000        198,234  
     

 

 

 

Total Turkey (Cost $26,596,574)

        26,616,759  
     

 

 

 

United States - 67.09%

     

U.S. Treasury Obligations - 67.09%

     

U.S. Treasury Bill,

     

0.71%, Due 5/11/2017

     14,000,000        13,997,424  

0.75%, Due 5/25/2017

     30,000,000        29,986,560  

0.72%, Due 5/18/2017

     70,000,000        69,977,530  

0.69%, Due 6/15/2017

     27,600,000        27,577,451  

0.75%, Due 6/29/2017

     30,700,000        30,662,945  

0.78%, Due 7/6/2017

     70,700,000        70,604,060  

U.S. Treasury Notes/Bonds,

     

1.88%, Due 1/31/2022

     3,000,000        3,009,609  

1.88%, Due 2/28/2022

     25,500,000        25,584,660  

1.88%, Due 3/31/2022

     20,100,000        20,151,034  
     

 

 

 

Total United States (Cost $291,144,900)

        291,551,273  
     

 

 

 
     Shares         

SHORT-TERM INVESTMENTS - 1.20% (Cost $5,233,402)

     

American Beacon U.S. Government Money Market Select Fund, Select Class, 0.69%B

     5,233,402        5,233,402  
     

 

 

 

TOTAL INVESTMENTS - 98.31% (Cost $426,881,317)

        427,237,584  

OTHER ASSETS, NET OF LIABILITIES - 1.69%

        7,351,604  
     

 

 

 

TOTAL NET ASSETS - 100.00%

      $ 434,589,188  
     

 

 

 

Percentages are stated as a percent of net assets.

 

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

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

OTC Swap Agreements Outstanding on April 30, 2017:

Credit Default Swaps on Corporate and Sovereign Securities - Buy Protection(1)

 

Reference Entity

   Counter-
Party
     Fixed
Rate (%)
     Expiration
Date
     Implied Credit
Spread at
4/30/2017(3)
(%)
     Curr      Notional
Amount(4)
(000s)
     Premiums
Paid
(Received)
    Fair Value(5)     Unrealized
Appreciation
(Depreciation)
 

Lebanese Republic

     BRC        1.0000        12/20/2019        2.7600        USD        150      $ 12,087     $ 7,121     $ (4,966

Lebanese Republic

     BRC        1.0000        6/20/2021        3.5100        USD        200        27,039       18,936       (8,103

Lebanese Republic

     BRC        1.0000        6/20/2021        3.5100        USD        275        39,726       26,037       (13,689

Republic of Chile

     BRC        1.0000        6/20/2021        0.5960        USD        500        (6,204     (8,648     (2,444

Russian Federation

     BRC        1.0000        6/20/2021        1.2071        USD        500        25,796       3,357       (22,439

Republic of Kazakhstan

     BCC        1.0000        12/20/2021        1.3254        USD        800        22,258       10,143       (12,115

Lebanese Republic

     BCC        1.0000        12/20/2021        3.7055        USD        800        113,687       90,757       (22,930

Republic of South Africa

     BCC        1.0000        12/20/2021        1.7575        USD        2,000        92,764       64,918       (27,846

Republic of South Africa

     BCC        1.0000        12/20/2021        1.7575        USD        1,500        66,540       48,689       (17,851

Lebanese Republic

     BRC        1.0000        12/20/2021        3.7055        USD        15,000        2,086,425       1,701,703       (384,722

Republic of Korea

     BRC        1.0000        12/20/2021        0.5291        USD        500        (12,881     (10,829     2,052  

Republic of Chile

     BRC        1.0000        12/20/2021        0.6682        USD        2,500        (11,077     (38,124     (27,047

Republic of Kazakhstan

     BRC        1.0000        12/20/2021        1.3254        USD        250        10,983       3,170       (7,813

Republic of Kazakhstan

     BRC        1.0000        12/20/2021        1.3254        USD        3,000        128,107       38,038       (90,069

Lebanese Republic

     BRC        1.0000        12/20/2021        3.7055        USD        3,000        505,382       340,341       (165,041

Republic of Indonesia

     BRC        1.0000        12/20/2021        1.1704        USD        800        17,961       5,257       (12,704

Republic of Indonesia

     BRC        1.0000        12/20/2021        1.1704        USD        1,000        23,693       6,571       (17,122

Republic of Kazakhstan

     BRC        1.0000        12/20/2021        1.3254        USD        15,000        430,758       190,189       (240,569

Republic of South Africa

     BRC        1.0000        12/20/2021        1.7575        USD        6,000        269,259       194,755       (74,504

Republic of Chile

     CBK        1.0000        12/20/2021        0.6682        USD        8,000        (74,053     (121,998     (47,945

Republic of Kazakhstan

     CBK        1.0000        12/20/2021        1.3254        USD        300        12,171       3,804       (8,367

Russian Federation

     CBK        1.0000        12/20/2021        1.3790        USD        3,000        157,589       48,325       (109,264

Russian Federation

     CBK        1.0000        12/20/2021        1.3790        USD        13,000        427,686       209,406       (218,280

Republic of Colombia

     FBF        1.0000        12/20/2021        1.1304        USD        4,000        62,091       20,014       (42,077

Republic of Indonesia

     HUB        1.0000        12/20/2021        1.1704        USD        1,800        39,738       11,828       (27,910

Republic of Korea

     UAG        1.0000        12/20/2021        0.5291        USD        9,000        (207,549     (194,924     12,625  

Republic of Indonesia

     UAG        1.0000        12/20/2021        1.1704        USD        3,000        52,565       19,714       (32,851

Russian Federation

     BCC        1.0000        6/20/2022        1.5499        USD        4,300        143,738       108,140       (35,598

Republic of Turkey

     BCC        1.0000        6/20/2022        2.1013        USD        9,375        602,839       467,123       (135,716

Republic of Turkey

     BRC        1.0000        6/20/2022        2.1013        USD        5,000        324,485       249,132       (75,353

Republic of South Africa

     CBK        1.0000        6/20/2022        1.9450        USD        5,500        251,477       239,484       (11,993

Republic of Indonesia

     HUS        1.0000        6/20/2022        1.3000        USD        3,000        42,250       38,173       (4,077
                    

 

 

   

 

 

   

 

 

 
                     $ 5,677,330     $ 3,790,602     $ (1,886,728
                    

 

 

   

 

 

   

 

 

 

Credit Default Swaps on Corporate and Sovereign Securities - Sell Protection(2)

 

 

Reference Entity

   Counter-
Party
     Fixed
Rate (%)
     Expiration
Date
     Implied Credit
Spread at
4/30/2017(3)
(%)
     Curr      Notional
Amount(4)
(000s)
     Premiums
Paid
(Received)
    Fair Value(5)     Unrealized
Appreciation
(Depreciation)
 

United Mexican States

     BRC        1.0000        6/20/2017        0.1257        USD        500      $ 417     $ 608     $ 191  

Republic of Philippines

     BCC        1.0000        12/20/2019        0.3533        USD        3,000        28,790       47,373       18,583  

Republic of Philippines

     BRC        1.0000        12/20/2019        0.3533        USD        500        3,619       7,895       4,276  

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Reference Entity

   Counter-
Party
     Fixed
Rate (%)
     Expiration
Date
     Implied Credit
Spread at
4/30/2017(3)
(%)
     Curr      Notional
Amount(4)
(000s)
     Premiums
Paid
(Received)
     Fair Value(5)      Unrealized
Appreciation
(Depreciation)
 

Republic of Colombia

     HUB        1.0000        12/20/2021        0.5075        USD        7,000      $ 35,496      $ 78,111      $ 42,615  
                    

 

 

    

 

 

    

 

 

 
                     $ 68,322      $ 133,987      $ 65,665  
                    

 

 

    

 

 

    

 

 

 

 

(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)  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.
(3)  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.
(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)  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 Currency Contracts Open on April 30, 2017:

 

Type

   Currency    Principal Amount
Covered by
Contract
     Settlement Date    Counterparty    Unrealized
Appreciation
     Unrealized
(Depreciation)
    Net Unrealized
Appreciation
(Depreciation)
 

Buy

   PEN      5,073,455      6/13/2017    CBK    $ 17,454      $ —       $ 17,454  

Buy

   COP      37,274,498      6/15/2017    CBK      —          (525,502     (525,502

Sell

   COP      3,301,600      6/15/2017    CBK      45,400        —         45,400  

Sell

   COP      12,769,494      6/15/2017    CBK      —          (169,494     (169,494

Sell

   COP      518,546      6/15/2017    CBK      —          (18,546     (18,546

Sell

   KRW      2,591,089      5/30/2017    HUB      8,911        —         8,911  

Sell

   KRW    $ 5,347,028      5/30/2017    HUB      25,972        —         25,972  

Buy

   PLN      13,082,513      6/1/2017    HUB      16,513        —         16,513  

Buy

   PLN      3,946,126      6/1/2017    HUB      172,126        —         172,126  

Sell

   PLN      25,831,873      6/1/2017    HUB      —          (1,375,873     (1,375,873

Buy

   CNY      8,637,208      6/6/2017    HUB      —          (2,792     (2,792

Buy

   CNY      2,300,255      6/6/2017    HUB      255        —         255  

Sell

   RUB      17,114,970      6/9/2017    HUB      —          (581,970     (581,970

Sell

   RUB      1,195,755      6/9/2017    HUB      4,245        —         4,245  

Sell

   RUB      1,213,424      6/9/2017    HUB      —          (13,424     (13,424

Buy

   CLP      12,171,509      6/13/2017    HUB      —          (328,491     (328,491

Buy

   CLP      4,643,041      6/13/2017    HUB      —          (59,588     (59,588

Buy

   PEN      6,596,705      6/13/2017    HUB      24,705        —         24,705  

Buy

   PEN      5,076,558      6/13/2017    HUB      20,557        —         20,557  

Sell

   CLP      726,533      6/13/2017    HUB      23,467        —         23,467  

Sell

   CLP      10,782,252      6/13/2017    HUB      373,748        —         373,748  

Sell

   CLP      5,277,288      6/13/2017    HUB      190,712        —         190,712  

Sell

   PEN      1,947,070      6/13/2017    HUB      —          (49,070     (49,070

Sell

   PEN      12,909,436      6/13/2017    HUB      —          (159,436     (159,436

Buy

   COP      1,556,684      6/15/2017    HUB      —          (43,316     (43,316

Buy

   COP      5,970,370      6/15/2017    HUB      219,147        —         219,147  

Sell

   COP      3,721,068      6/15/2017    HUB      —          (9,818     (9,818

Sell

   COP      3,723,574      6/15/2017    HUB      —          (12,324     (12,324

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Type

   Currency      Principal Amount
Covered by
Contract
     Settlement Date      Counterparty      Unrealized
Appreciation
     Unrealized
(Depreciation)
    Net Unrealized
Appreciation
(Depreciation)
 

Sell

     COP        3,722,947        6/15/2017        HUB      $ —        $ (11,697   $ (11,697

Sell

     COP        3,726,081        6/15/2017        HUB        —          (14,831     (14,831

Sell

     COP        6,642,136        6/15/2017        HUB        4,864        —         4,864  

Sell

     COP        4,714,534        6/15/2017        HUB        66,466        —         66,466  

Sell

     COP        686,723        6/15/2017        HUB        13,277        —         13,277  

Buy

     BRL        4,929,081        6/20/2017        HUB        449,878        —         449,878  

Sell

     BRL        8,574,253        6/20/2017        HUB        —          (49,253     (49,253

Sell

     BRL        8,550,124        6/20/2017        HUB        81,876        —         81,876  

Sell

     BRL        7,688,050        6/20/2017        HUB        80,950        —         80,950  

Sell

     BRL        2,964,069        6/20/2017        HUB        35,931        —         35,931  

Sell

     BRL        1,589,558        6/20/2017        HUB        10,442        —         10,442  

Sell

     BRL        8,578,236        6/20/2017        HUB        —          (53,236     (53,236

Sell

     BRL        2,718,301        6/20/2017        HUB        —          (102,301     (102,301

Sell

     BRL        2,717,188        6/20/2017        HUB        —          (113,188     (113,188

Buy

     MXN        13,566,466        6/21/2017        HUB        1,132,446        —         1,132,446  

Buy

     MXN        2,172,752        6/21/2017        HUB        —          (27,248     (27,248

Buy

     MXN        17,070,084        6/21/2017        HUB        26,972        —         26,972  

Sell

     MXN        1,438,361        6/21/2017        HUB        —          (73,361     (73,361

Sell

     MXN        6,559,704        6/21/2017        HUB        —          (348,704     (348,704

Sell

     MXN        13,326,160        6/21/2017        HUB        —          (45,160     (45,160

Sell

     MXN        3,781,022        6/21/2017        HUB        —          (20,022     (20,022

Buy

     CNY        9,623,498        11/14/2017        HUB        166,498        —         166,498  

Sell

     CNY        4,831,430        11/14/2017        HUB        1,570        —         1,570  

Sell

     CNY        4,841,829        11/14/2017        HUB        —          (8,829     (8,829

Sell

     KRW        5,862,644        5/30/2017        UAG        25,356        —         25,356  

Sell

     KRW        5,346,083        5/30/2017        UAG        26,917        —         26,917  

Buy

     PLN        20,195,316        6/1/2017        UAG        795,316        —         795,316  

Buy

     PLN        1,651,992        6/1/2017        UAG        69,992        —         69,992  

Buy

     CNY        9,113,120        6/6/2017        UAG        52,120        —         52,120  

Buy

     CNY        7,681,084        6/6/2017        UAG        40,084        —         40,084  

Sell

     PEN        1,927,129        6/13/2017        UAG        —          (49,129     (49,129

Buy

     COP        5,970,370        6/15/2017        UAG        219,147        —         219,147  

Sell

     COP        375,102        6/15/2017        UAG        4,898        —         4,898  

Sell

     COP        7,981,265        6/15/2017        UAG        —          (4,265     (4,265

Sell

     COP        232,473        6/15/2017        UAG        —          (2,473     (2,473

Buy

     BRL        4,284,630        6/20/2017        UAG        102,962        —         102,962  

Sell

     BRL        1,986,625        6/20/2017        UAG        —          (75,625     (75,625

Sell

     BRL        1,947,109        6/20/2017        UAG        —          (81,109     (81,109

Buy

     MXN        24,191,155        6/21/2017        UAG        36,699        —         36,699  

Sell

     MXN        18,042,696        6/21/2017        UAG        —          (961,696     (961,696

Sell

     MXN        13,964,259        6/21/2017        UAG        —          (635,259     (635,259
              

 

 

    

 

 

   

 

 

 
               $ 4,587,873      $ (6,027,030   $ (1,439,157
              

 

 

    

 

 

   

 

 

 

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Glossary:

 

Counterparty Abbreviations:
BCC    Barclays Capital
BRC    Barclays Bank, PLC
CBK    Citibank, N.A.
FBF    Credit Suisse International
HUB    HSBC Bank PLC
HUS    HSBC Bank USA
UAG    UBS AG
Currency Abbreviations:
BRL    Brazilian Real
CLP    Chilean Peso
CNY    Chinese Yuan
COP    Colombian Peso
KRW    South Korean Won
MXN    Mexican Peso
PEN    Peruvian Nuevo Sol
PLN    Polish Zloty
RUB    Russian Ruble
USD    United States Dollar
Exchange Abbreviations:
OTC    Over-the-Counter

The Fund’s investments are summarized by level based on the inputs used to determine their values. As of April 30, 2017, the investments were classified as described below:

 

GLG Total Return Fund

   Level 1      Level 2      Level 3      Total  

Assets

           

Foreign Corporate Obligations

           

Brazil

   $ —        $ 1,604,800      $ —        $ 1,604,800  

British Virgin Islands

     —          10,924,667        —          10,924,667  

Chile

     —          3,562,721        —          3,562,721  

India

     —          4,863,224        —          4,863,224  

Israel

     —          4,463,056        —          4,463,056  

Kazakhstan

     —          4,377,365        —          4,377,365  

Mexico

     —          22,691,810        —          22,691,810  

Netherlands

     —          15,260,342        —          15,260,342  

Foreign Sovereign Obligations

           

Brazil

     —          10,593,494        —          10,593,494  

Foreign Government Obligations

           

Colombia

     —          2,062,500        —          2,062,500  

Indonesia

     —          6,232,800        —          6,232,800  

South Africa

     —          17,199,371        —          17,199,371  

Turkey

     —          26,616,759        —          26,616,759  

U.S. Treasury Obligations

     —          291,551,273        —          291,551,273  

Short-Term Investments - Money Market Funds

     5,233,402        —          —          5,233,402  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments in Securities - Assets

   $ 5,233,402      $ 422,004,182      $ —        $ 427,237,584  
  

 

 

    

 

 

    

 

 

    

 

 

 

Financial Derivative Instruments - Assets

           

Swap Contracts

   $ —        $ 80,342      $ —        $ 80,342  

Forward Currency Contracts

     —          4,587,873        —          4,587,873  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Financial Derivative Instruments - Assets

   $ —        $ 4,668,215      $         —        $ 4,668,215  
  

 

 

    

 

 

    

 

 

    

 

 

 

Financial Derivative Instruments - Liabilities

           

Swap Contracts

   $ —        $ (1,901,405    $ —        $ (1,901,405

Forward Currency Contracts

     —          (6,027,030      —          (6,027,030
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Financial Derivative Instruments - Liabilities

   $         —        $ (7,928,435    $         —        $ (7,928,435
  

 

 

    

 

 

    

 

 

    

 

 

 

U.S. GAAP also requires all transfers between any level to be disclosed. The end of the period timing recognition has been adopted for the transfers between levels of the Fund’s assets and liabilities. During the period ended April 30, 2017, there were no transfers between levels.

 

See accompanying notes.

 


American Beacon GLG Total Return FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

Top Ten Holdings (% Net Assets)

 

U.S. Treasury Bill, 0.78%, 7/6/2017

        16.2  

U.S. Treasury Bill, 0.72%, 5/18/2017

        16.1  

U.S. Treasury Bill, 0.75%, 6/29/2017

        7.1  

U.S. Treasury Bill, 0.75%, 5/25/2017

        6.9  

U.S. Treasury Bill, 0.69%, 6/15/2017

        6.3  

U.S. Treasury Notes/Bonds, 1.88%, 2/28/2022

        5.9  

Turkey Government International Bond, 6.75%, 4/3/2018

        5.1  

U.S. Treasury Notes/Bonds, 1.88, 3/31/2022

        4.6  

Majapahit Holding B.V., 7.25%, 6/28/2017

        3.3  

U.S. Treasury Bill, 0.71%, 5/11/2017

        3.2  

Total Fund Holdings

     38     

Country Allocation (% Investments)

 

United States

        69.5  

Turkey

        6.2  

Mexico

        5.3  

South Africa

        4  

Netherlands

        3.6  

Brazil

        2.9  

British Virgin Islands

        2.6  

Indonesia

        1.5  

India

        1.1  

Israel

        1  

Kazakhstan

        1  

Chile

        0.8  

Colombia

        0.5  

 

See accompanying notes.

 


American Beacon Global Evolution Frontier Markets Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

            Principal Amount*      Fair Value  

Angola - 3.84% (Cost $2,001,073)

        

Foreign Government Obligations - 2.36%

        

Angolan Government International Bond, 9.50%, Due 11/12/2025A

      $ 2,000,000      $ 2,094,520  
        

 

 

 

Structured Notes - 1.48%

        

Republic of Angola (Issuer Aurora Australis BV), 7.57%, Due 12/19/2023A B

        1,312,500        1,313,944  
        

 

 

 

Total Angola (Cost $3,313,573)

           3,408,464  
        

 

 

 

Argentina - 4.31%

        

Foreign Government Obligations - 4.31%

        

Argentina Bonar Bonds,

        

22.25%, Due 3/1/2018

     ARS        10,388,072        714,243  

22.40%, Due 10/9/2017

     ARS        24,800,000        1,643,131  

Argentine Bonos del Tesoro,

        

22.75%, Due 3/5/2018

     ARS        15,750,000        1,079,328  

16.00%, Due 10/17/2023

     ARS        5,450,000        394,722  
        

 

 

 

Total Argentina (Cost $3,912,519)

           3,831,424  
        

 

 

 

Armenia - 1.79% (Cost $1,500,000)

        

Structured Notes - 1.79%

        

Armenian Treasury Bond (Issuer Frontera Capital BV), 10.00%, Due 5/7/2021C D

      $ 1,500,000        1,589,400  
        

 

 

 

Azerbaijan - 2.28% (Cost $2,000,000)

        

Structured Notes - 2.28%

        

Republic of Azerbaijan (Issuer Frontera Capital BV), 14.00%, Due 3/30/2020

        2,000,000        2,022,000  
        

 

 

 

Bosnia & Herzegovina - 0.38%

        

Foreign Government Obligations - 0.38%

        

Bosnia & Herzegovina Government International Bond,

        

0.56%, Due 12/11/2017, Series A

     EUR        280,000        148,929  

0.56%, Due 12/11/2021, Series BA

     EUR        416,667        190,291  
        

 

 

 

Total Bosnia & Herzegovina (Cost $435,768)

           339,220  
        

 

 

 

Cameroon, United Republic Of - 2.56% (Cost $2,044,327)

        

Foreign Government Obligations - 2.56%

        

Republic of Cameroon International Bond, 9.50%, Due 11/19/2025A

        2,000,000        2,275,320  
        

 

 

 

Congo - 0.99% (Cost $921,679)

        

Structured Notes - 0.99%

        

Congolese International Bond, 4.00%, Due 6/30/2029A E

        1,170,923        877,709  
        

 

 

 

Dominican Republic - 3.86% (Cost $3,654,535)

        

Foreign Government Obligations - 3.86%

        

Dominican Republic International Bond, 11.50%, Due 5/10/2024A

     DOP        155,000,000        3,432,119  
        

 

 

 

Ecuador - 2.26%

        

Foreign Government Obligations - 2.26%

        

Ecuador Government International Bond,

        

10.50%, Due 3/24/2020A

        1,400,000        1,498,000  

9.65%, Due 12/13/2026A

        500,000        508,750  
        

 

 

 

Total Ecuador (Cost $1,863,719)

           2,006,750  
        

 

 

 

Egypt - 4.45%

        

Foreign Government Obligations - 4.45%

        

Egypt Treasury Bills,

        

0.00%, Due 11/14/2017, Series 364D

     EGP        28,000,000        1,407,924  

0.01%, Due 1/23/2018, Series 364D

     EGP        14,000,000        682,039  

 

See accompanying notes.

 


American Beacon Global Evolution Frontier Markets Income FundSM

Schedule of Investments

April 30, 2017 (Unaudited)

 

 

            Principal Amount*      Fair Value  

Egypt - 4.45% (continued)

        

Foreign Government Obligations - 4.45% (continued)

        

Egypt Treasury Bills (continued)

        

0.01%, Due 1/9/2018, Series 364D

     EGP        38,000,000      $ 1,863,099  
        

 

 

 

Total Egypt (Cost $3,879,500)

           3,953,062  
        

 

 

 

Ethiopia - 1.11% (Cost $936,924)

        

Foreign Government Obligations - 1.11%

        

Ethiopia International Bond, 6.625%, Due 12/11/2024A

      $ 1,000,000        988,500  
        

 

 

 

Gabon - 2.31% (Cost $1,947,111)

        

Foreign Government Obligations - 2.31%

        

Gabon Government International Bond, 6.375%, Due 12/12/2024A

        2,100,000        2,056,425  
        

 

 

 

Gambia - 1.26% (Cost $1,069,596)

        

Structured Notes - 1.26%

        

Central Bank of Gambia (Issuer Frontera Capital BV), 15.00%, Due 8/9/2017C D

        1,070,000        1,122,858  
        

 

 

 

Georgia - 1.42% (Cost $1,250,000)