American Beacon Large Cap Value Fund (AADEX)

A multi-manager Fund seeking long-term capital appreciation and current income primarily through investments in large market capitalization U.S. stocks.

Total Fund Assets ($M) 3,357.5 as of 10/31/2025
Inception Date 7/17/1987

Overview

A TEAM OF MANAGERS
The Fund is sub-advised by complementary asset managers that select stocks as follows:

  • Barrow: Bottom-up analysis, with P/E and P/B ratios below the market and dividend yield above the market.
  • H&W: Sustainable cash flows and strong balance sheets, undervalued relative to tangible assets and long-term normal earnings power.
  • MFS: Undervalued, high-quality companies with sustainable, durable franchises, significant free cash flow and strong management teams.

STRENGTH IN DIVERSIFICATION

  • The multi-manager approach brings diversification to the Fund, potentially mitigating loss.
  • The Fund’s bottom-up portfolio construction is well diversified at the security, industry and stock levels.
  • The Fund’s assets may also include preferred stocks, convertible securities, American Depositary Receipts and foreign stocks traded on U.S. exchanges.
Fund Details as of 11/14/2025
Ticker AADEX
Inception Date 7/17/1987
Fund Share Class NAV $28.99
Total Fund Assets ($M)
as of 10/31/2025
3,357.5
Share Class Assets ($M)
as of 10/31/2025
1,071.8
Sub-Advisor % as of 9/30/2025
Barrow, Hanley, Mewhinney & Strauss, LLC33.6%
Hotchkis and Wiley Capital Management, LLC33.6%
Massachusetts Financial Services Company32.8%
Benchmark(s)
Russell 1000® Value Index
CUSIP 02368A208
Gross Expense Ratio (%) 0.66%
Net Expense Ratio (%) 0.66%
Net asset value (NAV) is the value of one share of the portfolio excluding any sales charges.

Performance

Total Return

Time Period
Name/Class QTR* YTD* 1 Year 3 Year 5 Year 10 Year Since Inception
Large Cap Value (R5) 4.72% 10.37% 9.16% 13.74% 16.18% 10.43% 9.60%
Russell 1000® Value Index 5.33% 11.65% 9.44% 16.96% 13.88% 10.72% 9.83%
Name/Class QTR* YTD* 1 Year 3 Year 5 Year 10 Year Since Inception
Large Cap Value (R5) 5.48% 11.21% 9.62% 18.49% 16.28% 11.36% 9.65%
Russell 1000® Value Index 5.33% 11.65% 9.44% 16.96% 13.88% 10.72% 9.83%

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.

*Not Annualized.

Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index. Diversification does not assure a profit nor protect against loss.

For any Class of the Fund that began operating within the 10-year/since inception period shown, the performance shown prior to the inception date of the Class is that of a class (or series of classes) previously in operation. The combined returns have not been adjusted for any difference between the fees and expenses of the Class and the historical fees and expenses of the included previous class (or classes). If the previous class(es) had lower expenses, the resulting performance would be better than the Class would have realized during the same period. If the previous class(es) had higher expenses, the resulting performance would be lower than the Class would have realized during the same period. A portion of fees charged to the C Class of Large Cap Value Fund was waived in 2018. A portion of fees charged to the R6 Class of Large Cap Value Fund has been waived since Class inception to 2020. Performance prior to waving fees was lower than actual returns shown for periods when fees were waived. Specific information about any Fund may be found in Performance Disclaimers or in the prospectus.

The Russell 1000® Value Index is an unmanaged index of those stocks in the Russell 1000® Index with lower price-to-book ratios and lower forecasted growth values.

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). ©LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. “Russell®” is a trademark of the relevant LSE Group companies and is used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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.

Portfolio

Equity Sector Weightings

as of 9/30/2025

Financials 24.6%
Health Care 13.1%
Industrials 13.1%
Information Technology 11.9%
Energy 8.6%
Consumer Discretionary 7.8%
Utilities 6.8%
Consumer Staples 4.6%
Communication Services 4.0%
Materials 3.1%
Real Estate 2.2%

Excludes cash.

Portfolio Statistics

as of 9/30/2025

Forward Price-to-Earnings Ratio (P/E) 15.7
Price-to-Book Ratio (P/B) 2.2
1-Year ROE 17.4
Weighted Avg. Market Cap ($ bil) 174.51

3-Year Risk Summary

as of 9/30/2025

Alpha 1.23
Beta 1.01
R2 0.97
Sharpe Ratio 0.95
Standard Deviation 14.57

Top Ten Holdings

as of 9/30/2025

Holding
Workday, Inc. Class A 1.7%
Bank of America Corp 1.7%
Citigroup Inc. 1.7%
Wells Fargo & Company 1.7%
F5, Inc. 1.6%
Exxon Mobil Corporation 1.6%
JPMorgan Chase & Co. 1.6%
Carnival Corporation 1.5%
American International Group, Inc. 1.5%
Alphabet Inc. Class A 1.5%
Total Fund Holdings 165

Asset Allocation

as of 9/30/2025

Equity 96.6%
Cash 3.4%

The Fund may purchase and sell futures contracts to gain market exposure on cash balances.

Market Capitalization

as of 9/30/2025

$1 Billion – $5 Billion 0.9%
$5 Billion – $10 Billion 4.3%
$10 Billion – $25 Billion 12.2%
$25 Billion – $50 Billion 18.1%
$50 Billion – $100 Billion 26.7%
$100 Billion – $500 Billion 32.8%
$500 Billion – $1 Trillion 2.4%
Greater than $1 Trillion 2.5%

Investing in value stocks may limit downside risk over time; however, the Fund may produce more modest gains than riskier stock funds as a trade-off for this potentially lower risk. 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. Financial sector companies are heavily regulated and particularly sensitive to interest rate fluctuations. 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 use of futures contracts for cash management may subject the Fund to losing more money than invested. 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.

The P/E Ratio of a stock is calculated by dividing the current price by forecasted 12-month earnings per share. The P/B Ratio of a stock is calculated by dividing the current price by book value per share. 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. Return on Equity (ROE) is net income divided by net worth.

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