American Beacon Mid-Cap Value Fund (ABMAX) is an open-end mutual fund that seeks long-term total return of capital and income by investing primarily in equity securities of companies with market capitalizations within the range of the Russell Midcap Value Index. The fund employs a value-oriented investment strategy, focusing on mid-cap companies trading at discounts to their intrinsic value; it allocates assets across diversified sectors including financials, industrials, consumer discretionary, information technology, and health care. Core holdings typically include established mid-cap value stocks such as banks, asset managers, machinery manufacturers, retailers, and software providers, with portfolio management emphasizing fundamental analysis, low price-to-earnings ratios, and strong balance sheets. The fund offers Class A shares (ABMAX), Class C shares (ABCYX), Class Y shares (ABYYX), and Institutional Class shares (ABMIX), providing options for retail investors, financial advisors, and institutional clients through broker-dealers and retirement plans. Managed by American Beacon Advisors, Inc., a subsidiary of Fidelity Investments since its 2019 acquisition, the fund operates from headquarters in Irving, Texas, with inception in 2000 and global exposure primarily to U.S. domestic equities. Recent developments include enhanced portfolio optimization through quantitative screening tools introduced in 2024 and a strategic subadvisory agreement expansion with leading value managers in early 2025, aimed at improving risk-adjusted returns amid mid-cap market volatility.