American Beacon

American beacon ARK TRANSFORMATIONAL INNOVATION FUND

Portfolio information as of September 30, 2024

Summary
Performance
Overview

Investment Objective

The Fund’s investment objective is long-term growth of capital.

FOCUS ON RISK-ADJUSTED ALPHA

ARK Investment Management specializes in thematic investing in disruptive innovation. The firm is rooted in more than 40 years of experience in identifying and investing in disruptive innovations that are changing the way the world works and delivering outsized growth as industries transform. Through its open research process, ARK identifies companies that it believes are leading and benefiting from cross-sector innovations such as robotics, 3D printing, big data, machine learning, cloud computing, energy storage and DNA sequencing.

Firm inception: 2013

Portfolio Manager:

Catherine D. Wood, CIO; industry since 1981

FUNDAMENTALLY ORIENTED,
qUANTITATIVELY IMPLEMENTED

The sub-advisor’s “Open Research Ecosystem” is designed to identify disruptive innovation early and leverages multiple data sources, both internal and external, to produce timely, original analysis. An open research process, which includes traditional sources, social media and crowdsourcing, provides a virtual collaboration platform that enables the sub-advisor’s thematic analysts to participate in an organized exchange of insights and ideas. Throughout the research process, the sub-advisor’s thematic analysts ask:

Where is the next big disruptive innovation?
What is the size of the total market?
Which industries will be disrupted?
Which companies will emerge as winners?

The analysts then examine each investment opportunity from both the top down and bottom up.

Total Fund Assets

$191.1 Million

Sub-Advisor (%)

ARK Investment Management LLC

100.0

FUND overview flyer*

Discovering Investment Themes
Through Global Innovation

sub-advisor video

Catherine D. Wood,
ARK Investment Management LLC [3:06]

*For investment professional use only. Login required.

Symbols and NAVs

Class	Symbol	NAV*
R5	ADNIX	15.21
Investor	ADNPX	14.80
Y	ADNYX	15.09
A	ADNAX	14.77
C	ADNCX	14.17
R6	ADNRX	15.18

*NAV values as of: 11/20/2024.
Historical NAVs are viewable from the Daily NAVs page.

Because the Fund may invest in fewer issuers than a more diversified portfolio, the fluctuating value of a single holding may have a greater effect on the value of the Fund. Companies that the sub-advisor believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so. Investing in foreign markets may involve heightened risk due to currency fluctuations and economic and political risks. To the extent the Fund invests more heavily in particular sectors, its performance will be sensitive to factors affecting those sectors. Information Technology sector companies may face intense competition and rapid product obsolescence, have limited product lines, markets, financial resources or personnel, and lose patent, copyright and trademark protections. Investing in Health Care sector companies involves risk due to government regulations, product litigation, competitive forces, and loss of patent protection. The Fund’s incorporation of environmental, social and/or governance (ESG) considerations in its investment strategy may cause it to underperform funds that do not incorporate these considerations. The Fund participates in a securities lending program. Please see the prospectus for a complete discussion of the Fund’s risks. There can be no assurances that the investment objectives of this Fund will be met.

For a prospectus containing more information, including expenses, click here. Read it carefully before you invest or send money. Past performance is no guarantee of future results.

American Beacon is a registered service mark of American Beacon Advisors, Inc. American Beacon Funds and American Beacon ARK Transformational Innovation Fund are service marks of American Beacon Advisors, Inc.

TOTAL RETURNS (%)

Share Class	Inception Date	CUSIP	Symbol	NAV	QTR*	YTD*	1 Year	3 Year	5 Year	10 Year / Since Inception*
R5	01/27/2017	024526303	ADNIX	13.10	8.35	-8.96	20.40	-23.69	3.06	10.48
Investor	01/27/2017	024526204	ADNPX	12.76	8.23	-9.18	20.15	-23.93	2.72	10.10
Y	01/27/2017	024526105	ADNYX	13.00	8.24	-9.03	20.37	-23.76	2.97	10.37
A (without max sales charge)	01/02/2019	024526295	ADNAX	12.72	8.16	-9.21	20.00	-23.98	2.67	10.17
A (with max sales charge)	01/02/2019	024526295	ADNAX	12.72	1.92	-14.40	13.07	-25.47	1.46	9.32
C (without max sales charge)	01/02/2019	024526287	ADNCX	12.22	7.95	-9.75	19.10	-24.57	1.89	9.54
C (with max sales charge)	01/02/2019	024526287	ADNCX	12.22	6.95	-10.75	18.10	-24.57	1.89	9.54
R6	10/28/2020	02452A601	ADNRX	13.07	8.29	-8.98	20.46	-23.69	3.02	10.46

Benchmark	QTR*	YTD*	1 Year	3 Year	5 Year	10 Year / Since Inception*
S&P 500® Index TR	5.89	22.08	36.35	11.91	15.98	14.74

Expense Ratios (%)

Share Class	Gross	Net¹
R5	1.13	0.99
Investor	1.46	1.32
Y	1.19	1.08
A	1.56	1.34
C	2.37	2.10
R6	1.18	0.99

Performance shown is historical and is not indicative of future returns. Investment returns and principal value will vary, and shares may be worth more or less at redemption than at original purchase. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, click here.

Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.
*Annualized. See the performance notes on the next page for more information.

¹The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through October 31, 2024.

Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index. The strategy employed by the Fund's sub-advisor has the potential for more volatility than broad market averages, which may result in significant fluctuations in the Fund's short-term returns, both positive and negative.

A portion of fees charged to the R5 Class of ARK Transformational Innovation Fund has been waived since Fund inception. A portion of fees charged to the Y Class of ARK Transformational Innovation Fund has been waived since Fund inception. A portion of fees charged to the Investor Class of ARK Transformational Innovation Fund has been waived since Fund inception. A portion of fees charged to the R6 Class of ARK Transformational Innovation Fund has been waived since Fund inception. A portion of fees charged to the A Class of ARK Transformational Innovation Fund was waived from Fund inception through 2020 and in 2023 through 2024. A portion of fees charged to the C Class of ARK Transformational Innovation Fund was waived from Fund inception through 2020 and in 2023 through 2024. Performance prior to waiving fees was lower than actual returns shown for periods when fees were waived. Specific information about any Fund may be found at americanbeaconfunds.com or in the prospectus.

The S&P 500® Index is a broad-based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by American Beacon Advisors. S&P® and S&P 500® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); S&P Dow Jones Indices LLC are trademarks of the S&P Dow Jones Indices LLC and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American Beacon Advisors. American Beacon Funds is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

TOP 10 INDUSTRY WEIGHTINGS (%)

Entertainment	16.8
Biotechnology	15.7
Automobiles	15.3
Software	13.3
Capital Markets	11.7
Financial Services	4.9
IT Services	3.9
Interactive Media & Services	3.8
Life Sciences Tools & Services	3.5
Semiconductors & Semiconductor Equipment	3.1

Excludes cash.

3-YEAR RISK Summary

Alpha	-42.59
Beta	1.83
R2	0.53
Sharpe Ratio	-0.62
Standard Deviation	44.02

TOP 10 HOLDINGS (%)

Tesla, Inc.	15.3
Roku, Inc.	10.4
Coinbase Global, Inc.	6.9
ROBLOX Corp.	6.4
Block, Inc.	4.9
Robinhood Markets, Inc.	4.8
Palantir Technologies, Inc.	4.6
CRISPR Therapeutics AG	4.2
Shopify, Inc.	3.9
Intellia Therapeutics, Inc.	2.9
Total Fund Holdings	33

Market Capitalization (%)

Less Than $0.4 Billion	0.56
$0.4 Billion - $0.75 Billion	0.44
$0.75 Billion - $1.50 Billion	0.77
$1.50 Billion - $7.5 Billion	24.71
$7.5 Billion - $15 Billion	13.63
$15 Billion - $50 Billion	29.74
$50 Billion - $100 Billion	10.39
$100 Billion - $300 Billion	1.42
Greater Than $300 Billion	18.34

R-squared (R2) is the percentage of the Fund’s three-year return that is explained by movements in its benchmark index. Alpha is a measure of the Fund’s expected performance versus the benchmark, adjusted for relative risk. Beta is a measure of the Fund’s volatility versus the benchmark. Sharpe Ratio is a measure of the Fund’s return per unit of total risk. Standard Deviation is a measure of the historical volatility of the Fund’s returns.

Equities	98.7
Cash Equivalents	1.3

American beacon ARK TRANSFORMATIONAL INNOVATION FUND

Portfolio information as of September 30, 2024

Investment Objective

FOCUS ON RISK-ADJUSTED ALPHA

FUNDAMENTALLY ORIENTED,
qUANTITATIVELY IMPLEMENTED

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

sub-advisor video

Symbols and NAVs

Quarterly
Fund Materials

QUICK LINKs

TOTAL RETURNS (%)

Expense Ratios (%)

TOP 10 INDUSTRY WEIGHTINGS (%)

3-YEAR RISK Summary

TOP 10 HOLDINGS (%)

ASSET ALLOCATION (%)

Market Capitalization (%)

American beacon ARK TRANSFORMATIONAL INNOVATION FUND

Portfolio information as of September 30, 2024

Investment Objective

FOCUS ON RISK-ADJUSTED ALPHA

FUNDAMENTALLY ORIENTED, qUANTITATIVELY IMPLEMENTED

Total Fund Assets

Sub-Advisor (%)

FUND overview flyer*

sub-advisor video

Symbols and NAVs

Quarterly Fund Materials

QUICK LINKs

TOTAL RETURNS (%)

Expense Ratios (%)

TOP 10 INDUSTRY WEIGHTINGS (%)

3-YEAR RISK Summary

TOP 10 HOLDINGS (%)

ASSET ALLOCATION (%)

Market Capitalization (%)

MY ACCOUNT

FUNDAMENTALLY ORIENTED,
qUANTITATIVELY IMPLEMENTED

Quarterly
Fund Materials