Quarterly Top 10 Holdings

American Beacon Quarterly Top 10s

Information as of 03/31/2012
Acadian Emerging Markets Managed Volatility Fund

Balanced Fund
Holding NamePercentage
JPMorgan Chase & Co.2.6%
Wells Fargo & Co.2.1%
Bank of America Corp.1.8%
Microsoft Corp.1.8%
ConocoPhillips1.7%
Vodafone Group plc1.6%
Pfizer, Inc.1.5%
Johnson & Johnson1.4%
General Electric Co.1.1%
BP plc1.0%

Bridgeway Large Cap Value Fund
Holding NamePercentage
Chevron Corp.2.8%
Union Pacific Corp.2.0%
Avalonbay Communities Inc.1.9%
Berkshire Hathaway, Inc.1.9%
Chubb Corp.1.9%
ConocoPhillips1.8%
Lockheed Martin Corp.1.8%
VF Corp.1.7%
Exxon Mobil Corp.1.6%
Ventas Inc.1.6%

Earnest Partners Emerging Markets Equity Fund

Emerging Markets Fund
Holding NamePercentage
Petroleo Brasileiro S.A.3.2%
Samsung Electronics Co. Ltd.2.5%
Gazprom OAO2.3%
Lukoil OAO2.2%
KB Financial Group, Inc.1.7%
POSCO1.5%
Banco Santander Brasil S.A.1.4%
China Mobile Ltd.1.4%
Itau Unibanco Banco Holding S.A.1.4%
Reliance Energy Ltd.1.4%

Flexible Bond Fund
Holding NamePercentage
United States Treasury Bill, 0.000%, Due 8/16/20126.3%
United States Treasury Bill, 0.000%, Due 12/13/20125.4%
United States Treasury Bill, 0.000%, Due 9/20/20123.9%
U.S. Treasury Note, 0.125%, Due 1/15/20223.8%
United States Treasury Bill, 0.000%, Due 6/28/20123.4%
Mexican Bonos, 8.50%, Due 5/31/20292.8%
United States Treasury Bill, 0.000%, Due 8/30/20122.2%
U.S. Treasury Note, 0.500%, Due 10/15/20131.8%
U.S. Treasury Note, 0.75%, Due 9/15/20131.8%
U.S. Treasury Note, 1.375%, Due 5/15/20131.8%

High Yield Bond Fund
Holding NamePercentage
Cricket Communications, Inc., 7.75%, Due 10/15/20200.9%
CIT Group, Inc., 7.00%, Due 5/2/20170.8%
E*Trade Financial Corp., 12.50%, Due 11/30/20170.8%
HUB International Holdings, Inc., 10.25%, Due 6/15/20150.8%
Energy XXI Gulf Coast, Inc., 9.25%, Due 12/15/20170.7%
Linn Energy LLC, 8.625%, Due 4/15/20200.7%
Sprint Nextel Corp., 8.375%, Due 8/15/20170.7%
International Lease Finance Corp., 5.65%, Due 6/1/20140.6%
MGM Resorts International, 6.625%, Due 7/15/20150.6%
Nuveen Investments, Inc., 10.50%, Due 11/15/20150.6%

Holland Large Cap Growth Fund
Holding NamePercentage
Apple, Inc.4.7%
Citrix Systems, Inc.4.7%
Qualcomm, Inc.4.5%
Covidien PLC3.7%
Yum! Brands, Inc.3.7%
Exxon Mobil Corp.3.5%
Range Resources Corp.3.5%
Cisco Systems, Inc.3.4%
International Business Machines Corp.3.0%
Nike, Inc.2.8%

Intermediate Bond Fund
Holding NamePercentage
Fannie Mae Pool, 4.50%, Due 4/1/20412.0%
Fannie Mae Pool, 5.00%, Due 5/1/20351.8%
Fannie Mae Pool, 4.000%, Due 12/1/20401.5%
Fannie Mae Pool, 4.50%, Due 12/1/20991.4%
Fannie Mae Pool, 4.50%, Due 6/1/20391.4%
Freddie Mac Gold Pool, 4.00%, Due 10/1/20391.4%
Fannie Mae Pool, 4.00%, Due 9/1/20411.3%
Freddie Mac Gold Pool, 5.00%, Due 1/1/20391.2%
Freddie Mac Gold Pool, 5.00%, Due 4/1/20401.0%

International Equity Fund
Holding NamePercentage
Sanofi2.6%
Novartis AG Reg2.3%
Siemens AG Reg2.0%
Royal Dutch Shell plc1.9%
SAP AG1.8%
British American Tobacco plc1.7%
GlaxoSmithKline plc1.7%
Total S.A.1.6%
Deutsche Post AG Reg1.5%
Rexam plc1.4%

International Equity Index Fund

Large Cap Value Fund
Holding NamePercentage
JPMorgan Chase & Co.4.1%
Wells Fargo & Co.3.2%
Microsoft Corp.2.6%
Bank of America Corp.2.4%
Pfizer, Inc.2.4%
ConocoPhillips2.3%
Johnson & Johnson2.3%
Vodafone Group plc2.2%
Philip Morris International, Inc.1.8%
General Electric Co.1.7%

Mid-Cap Value Fund
Holding NamePercentage
Fifth Third Bancorp2.1%
L-3 Communications Holdings, Inc.1.7%
Allstate Corp.1.6%
Staples, Inc.1.5%
Masco Corp.1.4%
Molex, Inc.1.4%
Molson Coors Brewing Co.1.4%
Stanley Black & Decker, Inc.1.4%
Avnet, Inc.1.3%
Comerica, Inc.1.3%

Retirement Income and Appreciation Fund
Holding NamePercentage
Government National Mortgage Association, 2.170%, Due 7/16/20411.9%
Government National Mortgage Association, 2.70%, Due 4/16/20431.9%
Government National Mortgage Association, 3.20%, Due 11/16/20441.9%
Fannie Mae Pool, 5.00%, Due 1/1/20411.7%
Government National Mortgage Association, 2.543%, Due 9/16/20441.7%
National Credit Union Administration, 0.674%, Due 10/7/20201.4%
National Credit Union Administration, 0.625%, Due 3/11/20201.3%
Freddie Mac Gold Pool, 4.50%, Due 2/1/20411.1%
EMC Corp., 1.750%, Due 12/1/20131.0%
Freddie Mac Gold Pool, 4.00%, Due 1/1/20411.0%

S&P 500 Index Fund

Short-Term Bond Fund
Holding NamePercentage
National Credit Union Administration, 0.625%, Due 3/11/20203.7%
National Credit Union Administration, 0.693%, Due 1/8/20203.5%
Ally Master Owner Trust, 1.031%, Due 9/15/20162.2%
Government National Mortgage Association, 2.25%, Due 5/16/20332.2%
Government National Mortgage Association, 2.45%, Due 7/16/20322.2%
Government National Mortgage Association, 1.864%, Due 8/16/20311.9%
BP Capital Markets plc, 1.074%, Due 3/11/20141.7%
Government National Mortgage Association, 2.45%, Due 7/16/20381.7%
MetLife Institutional Funding II, 1.481%, Due 4/4/2014, 144A1.7%
Verizon Communications, Inc., 0.918%, Due 3/28/20141.7%

SGA Global Growth Fund

SiM High Yield Opportunities Fund
Holding NamePercentage
Continental Airlines Finance Trust II3.0%
Ducommun, Inc., 9.750%, Due 7/15/20182.9%
Exopack Holding Corp., 10.000%, Due 6/1/20182.9%
NRG Energy, Inc., 8.25%, Due 9/1/20202.9%
Ono Finance II plc, 11.125%, Due 7/15/2019, 144A2.9%
Entravision Communications Corp., 8.750%, Due 8/1/20172.8%
HCA, Inc., 7.500%, Due 2/15/20222.8%
Tenet Healthcare Corp., 8.00%, Due 8/1/20202.8%
Calpine Corp., 7.875%, Due 1/15/2023, 144A2.7%
Quality Distribution LLC/QD Capital Corp., 9.875%, Due 11/1/20182.7%

Small Cap Index Fund

Small Cap Value Fund
Holding NamePercentage
LifePoint Hospitals, Inc.0.9%
Rent-A-Center, Inc.0.8%
Endurance Specialty Holdings Ltd.0.7%
First Horizon National Corp.0.7%
Portland General Electric Co.0.7%
SYNNEX Corp.0.7%
Valassis Communications, Inc.0.7%
Aspen Insurance Holdings Ltd.0.6%
Great Plains Energy, Inc.0.6%
WMS Industries, Inc.0.6%

Small Cap Value II Fund
Holding NamePercentage
Hospitality Properties Trust1.3%
Washington Federal, Inc.1.2%
EMCOR Group, Inc.1.0%
Hanesbrands, Inc.1.0%
Magellan Health Services, Inc.1.0%
Old Dominion Freight Line, Inc.1.0%
Crane Co.0.9%
Netgear, Inc.0.9%
Aeropostale, Inc.0.8%
Vishay Intertechnology, Inc.0.8%

Stephens Mid-Cap Growth Fund
Holding NamePercentage
Cerner Corp.1.8%
Red Hat, Inc.1.8%
Core Laboratories NV1.7%
Ross Stores, Inc.1.6%
Intuitive Surgical, Inc.1.5%
Whole Foods Market, Inc.1.5%
Airgas, Inc.1.4%
ASML Holding NV1.4%
Stericycle, Inc.1.4%
Tempur-Pedic International, Inc.1.4%

Stephens Small Cap Growth Fund
Holding NamePercentage
The Advisory Board Co.1.9%
National CineMedia, Inc.1.5%
OSI Systems, Inc.1.5%
Portfolio Recovery Associates, Inc.1.5%
United Natural Foods, Inc.1.5%
CoStar Group, Inc.1.4%
Ezcorp, Inc.1.4%
Sourcefire, Inc.1.4%
athenahealth, Inc.1.3%
HMS Holdings Corp.1.3%

The London Company Income Equity Fund

Treasury Inflation Protected Securities Fund
Holding NamePercentage
U.S. Treasury Note, 0.125%, Due 4/15/201612.0%
U.S. Treasury Note, 0.50%, Due 4/15/201511.7%
U.S. Treasury Note, 1.125%, Due 1/15/202110.0%
U.S. Treasury Note, 1.375%, Due 1/15/20207.9%
U.S. Treasury Note, 2.00%, Due 1/15/20167.6%
U.S. Treasury Note, 2.00%, Due 7/15/20147.6%
U.S. Treasury Note, 1.25%, Due 7/15/20207.4%
U.S. Treasury Note, 1.625%, Due 1/15/20155.4%
U.S. Treasury Note, 0.625%, Due 7/15/20215.3%
U.S. Treasury Note, 1.875%, Due 7/15/20133.8%

Zebra Global Equity Fund

Zebra Small Cap Equity Fund
Holding NamePercentage
HealthSouth Corp.1.6%
KKR Financial Holdings LLC1.2%
Federal-Mogul Corp.1.0%
Loral Space & Communications, Inc.1.0%
Textainer Group Holdings Ltd.1.0%
Delek US Holdings, Inc.0.8%
Amtrust Financial Services, Inc.0.7%
Deluxe Corp.0.7%
Enstar Group Ltd.0.7%
Sauer-Danfoss, Inc.0.7%

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