The Fund’s investment objective is current income, with a secondary objective of capital appreciation.
A TOTAL RETURN APPROACH TO INCOME EQUITY INVESTING
The London Company, a privately owned investment company, has two decades of experience in managing a focused, conservative investment process that has produced a consistent performance record while seeking to mitigate risk in down markets.
Firm inception: 1994
Portfolio Managers:
THINKING LIKE AN OWNER
The Fund tries to think like a business owner, buying companies at a discount to their private value.
| Fund Details as of 09/30/2025 | |
|---|---|
| Ticker | ABCIX |
| Inception Date | 5/29/2012 |
| Fund Share Class NAV | $23.89 |
|
Total Fund Assets ($M) as of 8/31/2025 |
1,167,287 |
|
Share Class Assets ($M) as of 8/31/2025 |
282,850 |
| Sub-Advisor % as of 6/30/2025 | |
|
The London Company of Virginia, LLC100.0%
|
|
| Benchmark(s) | Russell 1000® Value Index S&P 500® Index TR |
| CUSIP | 024527400 |
| Gross Expense Ratio (%) | 0.76% |
| Net Expense Ratio (%) | 0.76% |
| Actual SEC 30-Day Yield (%) | 1.29 |
| Unsubsidized SEC 30-Day Yield (%) | 1.29 |
Total Return
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| The London Company Income Equity (R5) | 7.72% | 14.67% | 13.27% | 10.80% | 9.68% | 10.26% | 11.07% |
| Russell 1000® Value Index | 7.66% | 6.61% | 8.79% | 10.59% | 13.18% | 9.20% | 11.19% |
| S&P 500® Index TR | 14.21% | 8.59% | 16.33% | 17.10% | 15.88% | 13.66% | 14.77% |
| Name/Class | QTR* | YTD* | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception |
|---|---|---|---|---|---|---|---|
| The London Company Income Equity (R5) | 4.87% | 9.27% | 17.66% | 9.88% | 11.15% | 9.18% | 10.81% |
| Russell 1000® Value Index | 3.79% | 6.00% | 13.70% | 12.76% | 13.93% | 9.19% | 11.22% |
| S&P 500® Index TR | 10.94% | 6.20% | 15.16% | 19.71% | 16.64% | 13.65% | 14.68% |
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.
Important Information: All investing involves risk, including possible loss of principal. Indexes are unmanaged and one cannot invest directly in an index.
*Not Annualized.
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 R6 Class of The London Company Income Equity Fund has been waived since Class inception. 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 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.
as of 6/30/2025
| Financials | 24.7% |
| Information Technology | 23.0% |
| Industrials | 13.4% |
| Consumer Staples | 11.3% |
| Consumer Discretionary | 6.0% |
| Communication Services | 5.2% |
| Materials | 4.3% |
| Utilities | 3.8% |
| Energy | 3.4% |
| Health Care | 3.0% |
| Real Estate | 1.9% |
Excludes cash.
as of 6/30/2025
| Forward Price-to-Earnings Ratio (P/E) | 20.36 |
| Price-to-Book Ratio (P/B) | 4.81 |
| 1-Year ROE | 16.57 |
| Weighted Avg. Market Cap ($ bil) | 450.11 |
as of 6/30/2025
| Alpha | -1.77 |
| Beta | 0.86 |
| R2 | 0.93 |
| Sharpe Ratio | 0.37 |
| Standard Deviation | 14.23 |
as of 6/30/2025
| Holding | ||
|---|---|---|
| Philip Morris International, Inc. | 5.2% | |
| Nintendo Co. Ltd. | 5.1% | |
| Norfolk Southern Corp. | 4.7% | |
| Blackrock, Inc. | 4.6% | |
| Apple, Inc. | 4.5% | |
| Progressive Corp. | 4.4% | |
| Texas Instruments, Inc. | 4.2% | |
| Air Products & Chemicals, Inc. | 4.2% | |
| Microsoft Corp. | 4.0% | |
| Charles Schwab Corp. | 4.0% | |
| Total Fund Holdings | 29 | |
as of 6/30/2025
| Equity | 97.8% |
| Cash | 2.2% |
The Fund may purchase and sell futures contracts to gain market exposure on cash balances.
as of 6/30/2025
| $15 billion – $50 billion | 18.0% |
| $50 billion – $100 billion | 20.2% |
| $100 billion – $300 billion | 46.2% |
| Greater than $300 billion | 15.6% |
Investing in medium-capitalization stocks may involve greater volatility and lower liquidity than larger company stocks. Investing in foreign markets may involve heightened risk due to currency fluctuations and economic and political risks. Investing in dividend-paying stocks may result in less earnings growth or capital appreciation than investing in non-dividend paying stocks. 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. 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. 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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