American Beacon Quarterly Top 10s

Information as of 12/31/2011

HISTORICAL TOP TENS

Acadian Emerging Markets Managed Volatility Fund

Bahl & Gaynor Small Cap Growth Fund

Balanced Fund
Holding NamePercentage
JPMorgan Chase & Co.2.3%
Wells Fargo & Co.2.0%
ConocoPhillips1.9%
Microsoft Corp.1.6%
Pfizer, Inc.1.6%
Vodafone Group plc1.6%
Hewlett-Packard Co.1.4%
Johnson & Johnson1.2%
Bank of America Corp.1.1%
Royal Dutch Shell plc1.1%

Bridgeway Large Cap Growth Fund

Bridgeway Large Cap Value Fund
Holding NamePercentage
Cheveron Corp.2.9%
Pfizer, Inc.2.3%
Union Pacific Corp.2.1%
AT&T, Inc.2.0%
Chubb Corp.2.0%
Avalonbay Communities Inc.1.9%
Berkshire Hathaway Inc - Class B1.9%
ConoccoPhillips1.8%
Lockheed Martin Corp.1.7%
Ventas Inc.1.6%

Crescent Short Duration High Income Fund

Flexible Bond Fund
Holding NamePercentage
U.S. Treasury Bill, 0.065%, Due 4/19/20128.9%
U.S. Treasury Bill, 0.04%, Due 1/12/20127.8%
U.S. Treasury Bill, 0.06%, Due 4/26/20123.5%
Australia Government Bond, 5.50%, Due 4/21/20232.5%
U.S. Treasury Bill, 0.05%, Due 6/14/20122.4%
U.S. Treasury Bond, 2.00%, Due 11/15/20212.2%
U.S. Treasury  Bill, 0.05%, Due 3/15/20122.1%
Mexican Bonos, 8.50%, Due 5/31/20292.0%
Poland Government Bond, 5.25%, Due 10/25/20201.5%
United Kingdom Gilt, 4.50%, Due 3/7/20131.5%

Global Evolution Frontier Markets Income Fund

Holland Large Cap Growth Fund

International Equity Fund
Holding NamePercentage
Sanofi2.8%
Novartis AG2.7%
Royal Dutch Shell plc1.9%
Vodafone Group plc1.8%
Siemens AG1.7%
Total S.A.1.7%
GlaxoSmithKline plc1.6%
HSBC Holdings plc1.6%
Roche Holding Ltd.1.6%
Unilever plc1.6%

Large Cap Value Fund
Holding NamePercentage
JPMorgan Chase & Co.3.6%
Wells Fargo & Co.3.1%
ConocoPhillips2.8%
Pfizer, Inc.2.7%
Microsoft Corp.2.5%
Vodafone Group plc2.4%
Johnson & Johnson2.1%
Hewlett-Packard Co.2.0%
Philip Morris International, Inc.1.8%
AT&T, Inc.1.7%

Mid-Cap Value Fund
Holding NamePercentage
Fifth Third Bancorp2.1%
L-3 Communications Holdings, Inc.1.8%
Molson Coors Brewing Co., Class B1.6%
Avnet, Inc.1.5%
Molex, Inc.1.5%
Stanley Black & Decker, Inc.1.5%
The Allstate Corp.1.5%
Masco Corp.1.4%
Staples, Inc.1.4%
Willis Group Holdings plc1.4%

SGA Global Growth Fund

SiM High Yield Opportunities Fund
Holding NamePercentage
Continental Airlines Finance Trust II3.0%
NRG Energy, Inc., 8.25%, Due 9/1/20203.0%
IMS Health, Inc., 12.50%, Due 3/1/2018,2.9%
ARAMARK Holdings Corp., 8.625%, Due 5/1/2016,2.8%
Asbury Automotive Group, Inc., 7.625%, Due 3/15/20172.8%
Tenet Healthcare Corp., 8.00%, Due 8/1/20202.8%
Live Nation Entertainment, Inc., 2.875%, Due 7/15/20272.7%
Nuveen Investments, Inc., 10.50%, Due 11/15/20152.7%
Quality Distribution LLC/QD Capital Corp., 9.875%, Due 11/1/20182.7%
Satmex Escrow SA de CV, 9.50%, Due 5/15/20172.7%

Small Cap Value Fund
Holding NamePercentage
RSC Holdings, Inc.1.1%
LifePoint Hospitals, Inc.0.9%
Portland General Electric Co.0.8%
Rent-A-Center, Inc.0.8%
Bank of the Ozarks, Inc.0.7%
Great Plains Energy, Inc.0.7%
Cloud Peak Energy, Inc.0.6%
Endurance Specialty Holdings Ltd.0.6%
ProAssurance Corp.0.6%
Webster Financial Corp.0.6%

Sound Point Floating Rate Income Fund

Stephens Mid-Cap Growth Fund
Holding NamePercentage
Core Laboratories NV1.9%
Cerner Corp.1.7%
Stericycle, Inc.1.6%
Ross Stores, Inc.1.5%
VeriSign, Inc.1.5%
Airgas, Inc.1.4%
Whole Foods Market, Inc.1.4%
Red Hat, Inc.1.4%
ASML Holding NV1.4%
Iron Mountain, Inc.1.4%

Stephens Small Cap Growth Fund
Holding NamePercentage
Advisory Board Co.1.8%
HMS Holdings Corp.1.6%
Portfolio Recovery Associates, Inc.1.6%
Core Laboratories NV1.5%
Lions Gate Entertainment Corp.1.5%
Buffalo Wild Wings, Inc.1.5%
United Natural Foods, Inc.1.5%
CoStar Group, Inc.1.4%
National CineMedia, Inc.1.4%
OSI Systems, Inc.1.3%

The London Company Income Equity Fund

Zebra Small Cap Equity Fund
Holding NamePercentage
Loral Space & Communications, Inc.1.8%
Delphi Financial Group, Inc.1.2%
CNO Financial Group, Inc.1.0%
Amerco, Inc.0.9%
Universal American Corp.0.9%
KKR Financial Holdings LLC0.8%
Amkor Technology, Inc.0.7%
Kemper Corp.0.7%
Nelnet, Inc.0.7%
Textainer Group Holdings Ltd.0.7%

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