American Beacon Funds

11/07/2025 | Press release | Distributed by Public on 11/07/2025 16:20

Prospectus by Investment Company (Form 497)

American Beacon ARK Transformational Innovation Fund

Supplement dated November 7, 2025, to the

Statement of Additional Information ("SAI"), dated November 3, 2025

I. On pages 33-35 of the SAI, under the heading "CONTROL PERSONS AND 5% SHAREHOLDERS," the second paragraph and the table are deleted and replaced with the following:

Set forth below are entities or persons that owned 5% or more of the outstanding shares of a class of the Fund as of October 6, 2025. The Trustees and officers of the Trusts, as a group, owned 13.94% of the R6 Class shares of the Fund as of that date. The Trustees and officers of the Trusts, as a group, owned less than 1% of all other classes of the Fund's shares outstanding as of that date.

Shareholder Address Fund Percentage (listed if over 25%) A CLASS C CLASS Y CLASS R6 CLASS R5 CLASS Investor Class
AMERICAN ENTERPRISE INV SVCS* 10.00% 22.61% 21.51%
707 2ND AVE S
MINNEAPOLIS MN    55402-2405
CHARLES SCHWAB & CO INC* 34.14% 37.41% 11.75% 85.48% 5.13% 14.67%
SPECIAL CUST A/C
EXCLUSIVE BENEFIT OF CUSTOMERS
ATTN MUTUAL FUNDS
211 MAIN ST
SAN FRANCISCO CA    94105-1905
LPL FINANCIAL* 26.52% 12.10% 16.29%
4707 EXECUTIVE DR
SAN DIEGO CA    92121-3091
NATIONAL FINANCIAL SERVICES LLC* 6.46% 5.50% 15.42% 10.38% 73.06%
FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 7.14% 13.06% 6.24% 6.27%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
RAYMOND JAMES* 5.10% 7.75%
OMNIBUS FOR MUTUAL FUNDS
ATTN MUTUAL FUND RECONCILIATION 14G
880 CARILLON PKWY
ST PETERSBURG FL    33716-1100
UBS WM USA* 14.02%
OMNI ACCOUNT M/F
SPEC CDY A/C EBOC UBSFSI
1000 HARBOR BLVD
WEEHAWKEN NJ    07086-6761
JOHN HANCOCK TRUST COMPANY LLC* 6.20%
200 BERKELEY ST STE 7
BOSTON MA    02116-5038

ARK-110725-SAI

MID ATLANTIC TRUST COMPANY FBO 17.36%
ANOTHER JACOBY COMPANY INC 401(K) P
1251 WATERFRONT PL STE 525
PITTSBURGH PA    15222-4228
MID ATLANTIC TRUST COMPANY FBO 15.38%
PDC ASSET MANAGEMENT 401(K) PROFIT
1251 WATERFRONT PL STE 525
PITTSBURGH PA    15222-4228
PENTEGRA TRUST COMPANY AS CUSTODIAN 5.28%
FBO TEXAS TECH UNIVERSITY ORP
C/O RETIREMENT SYSTEM CONSULTANTS
2 ENTERPRISE DRIVE, SUITE 408
SHELTON CT    06484-4657
STATE STREET BANK 8.57%
TRUSTEE AND/OR CUSTODIAN
FBO ADP ACCESS PRODUCT
1 LINCOLN STREET
BOSTON MA    02111-2901
VOYA RETIREMENT INSURANCE & ANNUITY* 25.44%
COMPANY
1 ORANGE WAY
WINDSOR CT    06095-4773

*Denotes record owner of Fund shares only

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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

American Beacon Shapiro Equity Opportunities Fund

American Beacon Shapiro SMID Cap Equity Fund

American Beacon SSI Alternative Income Fund

Supplement dated November 7, 2025, to the

Statement of Additional Information ("SAI"), dated November 3, 2025

I. On pages 35-39 of the SAI, under the heading "CONTROL PERSONS AND 5% SHAREHOLDERS," the second paragraph and the tables are deleted and replaced with the following:

Set forth below are entities or persons that owned 5% or more of the outstanding shares of a class of each Fund as of October 6, 2025. The Trustees and officers of the Trusts, as a group, owned less than 1% of all classes of each Fund's shares outstanding as of that date.

American Beacon Shapiro Equity Opportunities Fund

Shareholder Address Fund Percentage (listed if over 25%) A CLASS C CLASS Y CLASS R5 CLASS Investor CLASS
CHARLES SCHWAB & CO INC* 25.74% 22.95% 70.10% 14.90%
SPECIAL CUSTODY A/C FBO CUSTOMERS
ATTN TREASURY CAPITAL MKTS
101 MONTGOMERY 120KNY-13
SAN FRANCISCO CA    94104-4151
J.P. MORGAN SECURITIES LLC OMNIBUS* 29.67%
ACCT FOR THE EXCLUSIVE BEN OF CUST
4 CHASE METROTECH CTR FL 3RD
BROOKLYN NY    11245-0003
NATIONAL FINANCIAL SERVICES LLC* 21.75% 12.06% 49.94%
FOR EXCLUSIVE BENEFIT OF
OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 17.73%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
AMERICAN BEACON ADVISORS 100.00% 100.00%
220 LAS COLINAS BLVD E STE 1200
IRVING TX    75039-5500
GOULSTORRS & CO, INC 6.36%
1 POST OFFICE SQ FL 25
BOSTON MA    02109-2115
SAXON & CO 8.59%
PO BOX 94597
CLEVELAND OH    44101-4597
SAXON & CO 5.98%
PO BOX 94597
CLEVELAND OH    44101-4597
SAXON & CO 14.31%
PO BOX 94597
CLEVELAND OH    44101-4597

*Denotes record owner of Fund shares only

630-110725-SAI

American Beacon Shapiro SMID Cap Equity Fund

Shareholder Address Fund Percentage (listed if over 25%) A CLASS C CLASS Y CLASS R6 CLASS R5 CLASS Investor CLASS
AMERICAN ENTERPRISE INV SVCS* 10.59%
707 2ND AVE S
MINNEAPOLIS MN    55402-2405
CHARLES SCHWAB & CO INC* 47.15%
SPECIAL CUST A/C
EXCLUSIVE BENEFIT OF CUSTOMERS
ATTN MUTUAL FUNDS
211 MAIN ST
SAN FRANCISCO CA    94105-1901
CHARLES SCHWAB & CO INC* 27.70% 35.72% 31.16% 21.28%
SPECIAL CUSTODY A/C FBO CUSTOMERS
ATTN TREASURY CAPITAL MKTS
101 MONTGOMERY 120KNY-13
SAN FRANCISCO CA    94104-4151
LPL FINANCIAL* 9.01% 14.01%
4707 EXECUTIVE DR
SAN DIEGO CA    92121-3091
MORGAN STANLEY SMITH BARNEY LLC* 8.31% 9.48%
FOR THE EXCLUSIVE BENE OF ITS CUST
1 NEW YORK PLZ FL 12
NEW YORK NY    10004-1965
NATIONAL FINANCIAL SERVICES LLC* 5.48% 36.14% 26.07% 15.31% 45.97%
FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 8.70% 12.31%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
RAYMOND JAMES* 9.41%
OMNIBUS FOR MUTUAL FUNDS
ATTN MUTUAL FUND RECONCILIATION 14G
880 CARILLON PKWY
ST PETERSBURG FL    33716-1100
RBC CAPITAL MARKETS LLC* 19.29%
MUTUAL FUND OMNIBUS PROCESSING
ATTN MUTUAL FUNDS OPS MANAGER
250 NICOLLET MALL STE 1400
MINNEAPOLIS MN    55401-7582
UBS WM USA* 8.58% 5.82%
OMNI ACCOUNT M/F
SPEC CDY A/C EBOC UBSFSI
1000 HARBOR BLVD
WEEHAWKEN NJ    07086-6761
DCGT AS TTEE AND/OR CUST 6.57%
FBO PLIC VARIOUS RETIREMENT PLANS
OMNIBUS
ATTN NPIO TRADE DESK
711 HIGH ST
DES MOINES IA    50392-0001
EMPOWER ANNUITY INSURANCE 20.61%
FUTURE FUNDS II
8515 E ORCHARD RD 2T2
GREENWOOD VILLAGE CO    80111-5002
MATRIX TRUST COMPANY AS AGENT FOR 5.90%
ADVISOR TRUST INC.
RHONDA LOCKHART 403B
717 17TH STREET
SUITE 1300
DENVER CO    80202-3304
MATRIX TRUST COMPANY AS AGENT FOR 6.97%
ADVISOR TRUST INC.
STEVE DARNELL 403B
717 17TH STREET, SUITE 1300
DENVER CO    80202-3304
STATE STREET BANK 46.20% 21.96%
TRUSTEE AND/OR CUSTODIAN
FBO ADP ACCESS PRODUCT
1 LINCOLN STREET
BOSTON MA    02111-2901
VOYA RETIREMENT INSURANCE & ANNUITY 8.73%
COMPANY
ATTN MICHAEL KAMINSKI
1 ORANGE WAY
WINDSOR CT    06095-4773

*Denotes record owner of Fund shares only

American Beacon SSI Alternative Income Fund

Shareholder Address Fund Percentage (listed if over 25%) Y CLASS R5 CLASS Investor CLASS
CHARLES SCHWAB & CO INC* 7.69% 57.93%
SPECIAL CUST A/C
EXCLUSIVE BENEFIT OF CUSTOMERS
ATTN MUTUAL FUNDS
211 MAIN ST
SAN FRANCISCO CA    94105-1901
LPL FINANCIAL* 17.11%
4707 EXECUTIVE DR
SAN DIEGO CA    92121-3091
NATIONAL FINANCIAL SERVICES LLC* 16.42% 30.52%
FOR EXCLUSIVE BENEFIT OF
OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 9.07% 6.00%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
UBS WM USA* 20.62%
OMNI ACCOUNT M/F
SPEC CDY A/C EBOC UBSFSI
1000 HARBOR BLVD
WEEHAWKEN NJ    07086-6761
WELLS FARGO CLEARING SERVICES LLC* 17.31%
SPECIAL CUSTODY ACCT FOR THE
Shareholder Address Fund Percentage (listed if over 25%) Y CLASS R5 CLASS Investor CLASS
EXCLUSIVE BENEFIT OF CUSTOMERS
2801 MARKET ST
ST LOUIS MO    63103-2523
AMERICAN UNITED LIFE INS CO GROUP 70.50%
RETIREMENT ACCOUNT
PO BOX 368
INDIANAPOLIS IN    46206-0368
SEI PRIVATE TRUST COMPANY 7.76%
C/O FIRST HAWAIIAN BANK
ONE FREEDOM VALLEY DR
OAKS PA    19456-9989
WELLS FARGO BANK NA FBO 22.90%
OMNIBUS CASH CASH
PO BOX 1533
MINNEAPOLIS MN    55480-1533

*Denotes record owner of Fund shares only

****************************************************************************

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

American Beacon TwentyFour Short Term Bond Fund

American Beacon TwentyFour Strategic Income Fund

Supplement dated November 7, 2025, to the

Statement of Additional Information ("SAI"), dated November 3, 2025

I. On pages 50-52 of the SAI, under the heading "CONTROL PERSONS AND 5% SHAREHOLDERS," the second paragraph and the tables are deleted and replaced with the following:

Set forth below are entities or persons that owned 5% or more of the outstanding shares of a class of each Fund as of October 6, 2025. The Trustees and officers of the Trusts, as a group, owned less than 1% of all classes of each Fund's shares outstanding as of that date.

American Beacon TwentyFour Strategic Income Fund

Shareholder Address Fund Percentage (listed if over 25%) A Class C Class Y Class R5 CLASS Investor CLASS
CHARLES SCHWAB & CO INC* 8.49% 18.83% 15.76% 24.70% 63.41%
SPECIAL CUST A/C
EXCLUSIVE BENEFIT OF CUSTOMERS
ATTN MUTUAL FUNDS
211 MAIN ST
SAN FRANCISCO CA    94105-1901
LPL FINANCIAL* 16.08%
4707 EXECUTIVE DR
SAN DIEGO CA    92121-3091
MORGAN STANLEY SMITH BARNEY LLC* 24.08% 21.56% 7.61%
FOR THE EXCLUSIVE BENE OF ITS CUST
1 NEW YORK PLZ FL 12
NEW YORK NY    10004-1965
NATIONAL FINANCIAL SERVICES LLC* 16.73% 13.15% 19.44%
FOR EXCLUSIVE BENEFIT OF OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 23.73% 27.69% 5.43%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
RAYMOND JAMES* 29.83% 18.57% 17.30%
OMNIBUS FOR MUTUAL FUNDS
ATTN MUTUAL FUND RECONCILIATION 14G
880 CARILLON PKWY
ST PETERSBURG FL    33716-1100
WELLS FARGO CLEARING SERVICES LLC* 11.09% 13.74%
SPECIAL CUSTODY ACCT FOR THE
EXCLUSIVE BENEFIT OF CUSTOMERS
2801 MARKET ST
ST LOUIS MO    63103-2523
RELIANCE TRUST CO FBO 22.36%
DEUTSCHE BANK CC
PO BOX 570788
ATLANTA GA    30357-3114

24-110725

SEI PRIVATE TRUST COMPANY 34.41%
ATTN MUTUAL FUNDS
1 FREEDOM VALLEY DR
OAKS PA    19456-9989

*Denotes record owner of Fund shares only

American Beacon TwentyFour Short Term Bond Fund

Shareholder Address Fund Percentage (listed if over 25%) A CLASS C CLASS Y CLASS R6 CLASS
CHARLES SCHWAB & CO INC* 51.02% 62.35% 60.61%
SPECIAL CUST A/C
EXCLUSIVE BENEFIT OF CUSTOMERS
ATTN MUTUAL FUNDS
211 MAIN ST
SAN FRANCISCO CA    94105-1901
NATIONAL FINANCIAL SERVICES LLC* 23.46%
FOR EXCLUSIVE BENEFIT OF
OUR CUSTOMERS
ATTN MUTUAL FUNDS DEPT 4TH FLOOR
499 WASHINGTON BLVD
JERSEY CITY NJ    07310-1995
PERSHING LLC* 37.28% 91.70% 8.53%
1 PERSHING PLZ
JERSEY CITY NJ    07399-0001
AMERICAN BEACON ADVISORS 99.97%
220 LAS COLINAS BLVD E STE 1200
IRVING TX    75039-5500
LESLIE HERMAN 6.95%
PO BOX 219643
KANSAS CITY, MO 64121-9643
MILLENNIUM TRUST CO LLC* 5.01%
FBO VARIOUS BENEFICIARIES
2001 SPRING ROAD
SUITE 700
OAK BROOK IL    60523-1890

*Denotes record owner of Fund shares only

****************************************************************************

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

American Beacon Funds published this content on November 07, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on November 07, 2025 at 22:20 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]