American Beacon Quarterly Top 10s

Information as of 12/31/2011

HISTORICAL TOP TENS

Acadian Emerging Markets Managed Volatility Fund

Alpha Quant Core Fund

Alpha Quant Dividend Fund

Alpha Quant Quality Fund

Alpha Quant Value Fund

ARK Transformational Innovation 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%

Garcia Hamilton Quality Bond Fund

GLG Total Return Fund

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%

Numeric Integrated Alpha Fund

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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