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Form N-PX · fund registrantSEC filer no. 809593

AMERICAN BEACON FUNDS

fund voting report, part of American Beacon

Vote records reported
22,078year to 30 June 2026
Against management
6.4%1,400 of 21,798 marked votes
Say-on-pay support
91.8%for, of for + against + abstain
Shareholder-proposal support
32.2%for, of for + against + abstain
91.5% for6.5% against2.0% other6.4% against management21,996 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

For the year to 30 June 2026, AMERICAN BEACON FUNDS reported 22,078 vote records on Form N-PX. 1,400 of the 21,798 votes that were marked for or against management went against management: 6.4%, close to the median fund registrant (6.2%).

Weighted by the number of shares voted, the against-management share is 5.9%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 91.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 32.2% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (32.4% of 142), SHAREHOLDER RIGHTS AND DEFENSES (29.5% of 105) and HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (14.5% of 76).

It reported 136.7 million shares out on loan at record dates, 4.30% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share6.4%6.2%10.6%
Say-on-pay support rate91.8%91.6%86.0%
Shareholder-proposal support rate32.2%27.5%33.9%
Shares on loan, share of shares held4.30%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS13,15812,3724645.5%
SECTION 14A SAY-ON-PAY VOTES1,4301,2371118.1%
AUDIT-RELATED1,6811,648301.3%
INVESTMENT COMPANY MATTERS8800.0%
SHAREHOLDER RIGHTS AND DEFENSES106703629.5%
EXTRAORDINARY TRANSACTIONS142954732.4%
CAPITAL STRUCTURE1,4201,356644.6%
COMPENSATION1,6341,40320512.0%
CORPORATE GOVERNANCE2,3612,1032498.2%
ENVIRONMENT OR CLIMATE11432824.4%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE76344014.5%
DIVERSITY, EQUITY, AND INCLUSION7027432.9%
OTHER SOCIAL ISSUES232991337.8%
OTHER115744011.4%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202419,47010.1%87.4%41.9%
year to 30 June 202520,9706.6%91.9%37.1%
year to 30 June 202622,0786.4%91.8%32.2%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, AMERICAN BEACON FUNDS voted against management on 51 of the 805 it marked either way (6.3%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

Shareholder proposals it supported

Of 306 proposals from security holders that could be told apart in the filings and on which it cast a vote, AMERICAN BEACON FUNDS voted for 102 (33.3%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Microsoft Corporation5 Dec 2025Report on Human Rights Due Diligence
Microsoft Corporation5 Dec 2025Report on Data Operations in Human Rights Hotspots
Amazon.com, Inc.20 May 2026Shareholder proposal requesting a mandatory independent board chair policy
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on AI-generated misinformation
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Merck & Co., Inc.26 May 2026Shareholder proposal regarding a report on DEI risks in federal contracting.
Merck & Co., Inc.26 May 2026Shareholder proposal regarding a report on healthcare coverage gaps.
Advanced Micro Devices, Inc.13 May 2026Stockholder proposal requesting changes to the stockholder right to call a special meeting.
NextEra Energy, Inc.21 May 2026Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals
QUALCOMM Incorporated17 Mar 2026Stockholder proposal entitled "Shareholder Ability to Call for a Special Meeting."
CATERPILLAR INC.10 Jun 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
Texas Instruments Incorporated16 Apr 2026Stockholder proposal to permit stockholders to act by written consent.
Bristol-Myers Squibb Company5 May 2026Require Independent Board Chair
S&P Global Inc.20 May 2026Vote on a shareholder proposal to reduce the stock ownership threshold for calling a special shareholder...
Deere & Company25 Feb 2026Shareholder proposal on shareholder right to act by written consent
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
THE BOEING COMPANY17 Apr 2026Action by Written Consent.
Palo Alto Networks, Inc.9 Dec 2025To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding...
Lam Research Corporation4 Nov 2025Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting,"
CVS Health Corporation14 May 2026Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent.
Mondelez International, Inc.20 May 2026Shareholder proposal requesting adoption of an independent board chairman policy
Meta Platforms, Inc.27 May 2026Shareholder Proposal Regarding Data Protection Impact Assessment
Meta Platforms, Inc.27 May 2026Shareholder proposal: OTHER SOCIAL ISSUES
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding disclosure of voting results by share class.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on Al data usage oversight.
The Cigna Group22 Apr 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
PayPal Holdings, Inc.19 May 2026Stockholder Proposal - Reduce Threshold to Call Special Meetings of Stockholders.
L3Harris Technologies, Inc.11 May 2026Shareholder Proposal titled "Improve Shareholder Ability to Call for a Special Shareholder Meeting".
Otis Worldwide Corporation27 May 2026Shareholder proposal regarding reporting on political contributions and expenditures
Dominion Energy, Inc.5 May 2026Shareholder Proposal Regarding a Policy for an Independent Chair
Marvell Technology, Inc.25 Jun 2026To consider and act on one stockholder proposal, entitled "Independent Board Chairman"
IDEXX Laboratories, Inc.12 May 2026Shareholder Proposal to Give Shareholders the Ability to Call for a Special Shareholder Meeting (Proposal...
Autodesk, Inc.17 Jun 2026Stockholder proposal requesting amendment to stockholder special meeting right.
HCA Healthcare, Inc.23 Apr 2026Stockholder proposal, if properly presented at the meeting, regarding stockholders' right to act by...
eBay Inc.17 Jun 2026Special stockholder meeting threshold
The Hartford Insurance Group, Inc.20 May 2026Shareholder proposal that the Company adopt written consent rights for shareholders
Cognizant Technology Solutions Corporation2 Jun 2026Shareholder proposal to adopt shareholder right to act by written consent
Keysight Technologies, Inc.19 Mar 2026Consider, on a non-binding advisory basis, a Stockholder Proposal: Shareholder Ability to Call for a...

Shares on loan

AMERICAN BEACON FUNDS reported 136.7 million shares on loan at record dates against 3.04 billion shares voted: 4.30% of the two together. Median fund registrant: 0.00%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

19 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
American Beacon Small Cap Value Fund4,5066.0%94.2%62.5%
American Beacon International Equity Fund3,0303.3%71.4%42.4%
American Beacon Large Cap Value Fund2,7004.5%94.0%18.9%
American Beacon IMC International Small Cap Fund2,33413.4%not reported55.6%
American Beacon Balanced Fund1,7665.9%91.2%22.4%
American Beacon Man Large Cap Value Fund1,2997.7%89.8%53.7%
American Beacon Ninety One Emerging Markets Equity Fund1,2947.5%not reported57.1%
American Beacon Stephens Mid-Cap Growth Fund1,0468.4%91.6%73.3%
American Beacon Stephens Small Cap Growth Fund8948.5%90.8%not reported
American Beacon Man Large Cap Growth Fund76810.8%82.0%37.1%
American Beacon Ninety One International Franchise Fund5783.1%not reportednot reported
American Beacon The London Company Income Equity Fund4321.6%96.4%14.7%
American Beacon Ninety One Global Franchise Fund4254.0%94.7%10.3%
American Beacon ARK Transformational Innovation Fund3772.1%100.0%20.0%
American Beacon Shapiro Equity Opportunities Fund3412.6%100.0%9.1%
American Beacon Shapiro SMID Cap Equity Fund2563.5%95.8%not reported
American Beacon TwentyFour Strategic Income Fund180.0%not reportednot reported
American Beacon SSI Alternative Income Fund110.0%not reportednot reported
American Beacon SiM High Yield Opportunities Fund30.0%not reportednot reported

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did AMERICAN BEACON FUNDS vote on executive pay?

In the year to 30 June 2026 AMERICAN BEACON FUNDS reported 1,348 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 1,237 were for (91.8%), 111 against and 0 abstentions. Counting one item per company meeting, it voted against management on 51 of the 805 say-on-pay items it marked either way.

How often does AMERICAN BEACON FUNDS vote against management?

6.4% of the time in the year to 30 June 2026: 1,400 of the 21,798 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did AMERICAN BEACON FUNDS support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 87 votes on proposals from security holders in the year to 30 June 2026 and voted for 5 of them (5.7%). Across every category it voted for 32.2% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by AMERICAN BEACON FUNDS (filer no. 809593), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.