AB Bond Fund, Inc.
AB Tax-Aware Fixed Income Opportunities Portfolio
Portfolio of Investments
January 31, 2022 (unaudited)
Principal Amount (000) | U.S. $ Value | |||||||
MUNICIPAL OBLIGATIONS – 111.3% |
| |||||||
Long-Term Municipal Bonds – 76.2% |
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Alabama – 1.5% |
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Black Belt Energy Gas District (Goldman Sachs Group, Inc. (The)) | $ | 1,000 | $ | 1,099,326 | ||||
County of Jefferson AL Sewer Revenue 6.00%, 10/01/2042 | 110 | 123,851 | ||||||
Infirmary Health System Special Care Facilities Financing Authority of Mobile (Infirmary Health System Obligated Group) 4.00%, 02/01/2037 | 1,610 | 1,843,796 | ||||||
Tuscaloosa County Industrial Development Authority (Hunt Refining Co.) 5.25%, 05/01/2044(a) | 595 | 645,249 | ||||||
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3,712,222 | ||||||||
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American Samoa – 0.1% |
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American Samoa Economic Development Authority (Territory of American Samoa) 7.125%, 09/01/2038(a) | 135 | 170,459 | ||||||
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Arizona – 2.0% |
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Arizona Industrial Development Authority (Arizona Industrial Development Authority) 3.625%, 05/20/2033 | 197 | 211,535 | ||||||
Arizona Industrial Development Authority (Legacy Cares, Inc.) 7.75%, 07/01/2050(a) | 200 | 237,981 | ||||||
Arizona Industrial Development Authority (Phoenix Children’s Hospital Obligated Group) 4.00%, 02/01/2040 | 1,000 | 1,154,055 | ||||||
5.00%, 02/01/2032 | 1,105 | 1,411,526 | ||||||
Arizona Industrial Development Authority (Pinecrest Academy of Nevada) 4.00%, 07/15/2050(a) | 100 | 103,978 | ||||||
City of Glendale AZ (City of Glendale AZ COP) 2.222%, 07/01/2030 | 1,000 | 972,667 | ||||||
City of Tempe AZ (City of Tempe AZ COP) 2.521%, 07/01/2036 | 1,000 | 943,891 |
1
Principal Amount (000) | U.S. $ Value | |||||||
Industrial Development Authority of the City of Phoenix (The) (GreatHearts Arizona Obligated Group) | $ | 100 | $ | 105,891 | ||||
|
| |||||||
5,141,524 | ||||||||
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California – 5.9% |
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Alameda Corridor Transportation Authority 5.00%, 10/01/2037 | 175 | 200,109 | ||||||
ARC70 II TRUST Series 2021 4.00%, 12/01/2059 | 300 | 312,353 | ||||||
California Community Housing Agency (California Community Housing Agency Aster Apartments) 4.00%, 02/01/2056(a) | 100 | 100,471 | ||||||
California Community Housing Agency (California Community Housing Agency Brio Apartments & Next on Lex Apartments) 4.00%, 02/01/2056(a) | 250 | 248,160 | ||||||
California Community Housing Agency (California Community Housing Agency Fountains at Emerald Park) 3.00%, 08/01/2056(a) | 300 | 243,646 | ||||||
4.00%, 08/01/2046(a) | 250 | 228,437 | ||||||
California Health Facilities Financing Authority (Lucile Salter Packard Children’s Hospital at Stanford Obligated Group) 4.00%, 05/15/2051(b) | 2,500 | 2,791,560 | ||||||
California Housing Finance Agency | ||||||||
Series 2019-2 4.00%, 03/20/2033 | 155 | 171,550 | ||||||
Series 2021-2 0.823%, 03/25/2035 | 1,000 | 64,240 | ||||||
California Municipal Finance Authority 5.00%, 05/15/2040 | 250 | 294,349 | ||||||
California Pollution Control Financing Authority (Poseidon Resources Channelside LP) 5.00%, 11/21/2045(a) | 250 | 256,130 | ||||||
California Statewide Communities Development Authority (Loma Linda University Medical Center) 5.50%, 12/01/2058(a) | 250 | 294,756 | ||||||
City of Los Angeles Department of Airports 5.00%, 05/15/2039 | 1,000 | 1,204,633 | ||||||
CMFA Special Finance Agency |
2
Principal Amount (000) | U.S. $ Value | |||||||
Series 2022-A 4.00%, 08/01/2058(a) (b) | $ | 400 | $ | 375,898 | ||||
CMFA Special Finance Agency (CMFA Special Finance Agency Latitude33) 3.00%, 12/01/2056(a) | 100 | 80,231 | ||||||
CMFA Special Finance Agency (CMFA Special Finance Agency Solana at Grand) 4.00%, 08/01/2056(a) | 250 | 245,860 | ||||||
CMFA Special Finance Agency VIII Elan Huntington Beach 3.00%, 08/01/2056(a) | 250 | 193,442 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 777 Place-Pomona) 3.25%, 05/01/2057(a) | 250 | 210,557 | ||||||
4.00%, 05/01/2057(a) | 350 | 301,547 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Acacia on Santa Rosa Creek) 4.00%, 10/01/2056(a) | 400 | 405,756 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Altana Apartments) 4.00%, 10/01/2056(a) | 200 | 198,506 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments) Series 2021-A2 3.125%, 08/01/2056(a) | 100 | 83,869 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Millennium South Bay-Hawthorne) Series 2021 3.25%, 07/01/2056(a) | 200 | 168,293 | ||||||
4.00%, 07/01/2058(a) | 200 | 174,440 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Park Crossing Apartments) 3.25%, 12/01/2058(a) | 300 | 243,172 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Pasadena Portfolio) 4.00%, 12/01/2056(a) | 400 | 335,453 | ||||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority The Crescent) |
3
Principal Amount (000) | U.S. $ Value | |||||||
4.30%, 07/01/2059(a) | $ | 500 | $ | 489,053 | ||||
CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Union South Bay) 4.00%, 07/01/2056(a) | 350 | 349,340 | ||||||
Golden State Tobacco Securitization Corp. 5.00%, 06/01/2047 (Pre-refunded/ETM) | 1,050 | 1,065,818 | ||||||
Series 2021 3.85%, 06/01/2050 | 1,000 | 999,247 | ||||||
San Francisco Intl Airport 5.00%, 05/01/2052(b) | 1,000 | 1,204,254 | ||||||
University of California 5.00%, 05/15/2036(b) | 1,000 | 1,288,692 | ||||||
|
| |||||||
14,823,822 | ||||||||
|
| |||||||
Colorado – 1.7% |
| |||||||
Aurora Highlands Community Authority Board 5.75%, 12/01/2051 | 500 | 476,425 | ||||||
City & County of Denver CO (United Airlines, Inc.) 5.00%, 10/01/2032 | 615 | 642,398 | ||||||
Colorado Health Facilities Authority (Aberdeen Ridge, Inc. Obligated Group) 5.00%, 05/15/2049 | 100 | 102,456 | ||||||
Colorado Health Facilities Authority (Christian Living Neighborhoods Obligated Group) 4.00%, 01/01/2042 | 250 | 265,598 | ||||||
Colorado Health Facilities Authority (Frasier Meadows Manor, Inc. Obligated Group) 4.00%, 05/15/2041(b) | 100 | 103,479 | ||||||
Colorado Health Facilities Authority (Parkview Medical Center, Inc. Obligated Group) Series 2015-B 5.00%, 09/01/2030 | 200 | 222,437 | ||||||
Copper Ridge Metropolitan District 5.00%, 12/01/2039 | 500 | 527,343 | ||||||
Douglas County Housing Partnership (Bridgewater Castle Rock ALF LLC) 5.375%, 01/01/2041(a) | 250 | 240,376 | ||||||
E-470 Public Highway Authority 0.377% (SOFR + 0.35%), 09/01/2039(c) | 1,000 | 999,065 | ||||||
Pueblo Urban Renewal Authority | ||||||||
Zero Coupon, 12/01/2025(a) | 260 | 225,595 |
4
Principal Amount (000) | U.S. $ Value | |||||||
Vauxmont Metropolitan District | ||||||||
AGM Series 2019 5.00%, 12/15/2028 | $ | 380 | $ | 427,772 | ||||
AGM Series 2020 5.00%, 12/01/2050 | 100 | 120,155 | ||||||
|
| |||||||
4,353,099 | ||||||||
|
| |||||||
Connecticut – 0.7% |
| |||||||
City of New Haven CT | 615 | 737,010 | ||||||
Connecticut State Health & Educational Facilities Authority (Stamford Hospital Obligated Group (The)) 4.00%, 07/01/2037(b) | 1,000 | 1,112,745 | ||||||
|
| |||||||
1,849,755 | ||||||||
|
| |||||||
Delaware – 0.5% |
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Delaware River & Bay Authority 5.00%, 01/01/2032(b) | 1,100 | 1,351,872 | ||||||
|
| |||||||
District of Columbia – 1.0% |
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District of Columbia (Friendship Public Charter School, Inc.) Series 2016-A 5.00%, 06/01/2041 | 100 | 110,031 | ||||||
District of Columbia Tobacco Settlement Financing Corp. | 2,500 | 228,742 | ||||||
Metropolitan Washington Airports Authority Dulles Toll Road Revenue AGM 4.00%, 10/01/2052(b) | 2,000 | 2,226,009 | ||||||
|
| |||||||
2,564,782 | ||||||||
|
| |||||||
Florida – 5.7% |
| |||||||
Align Affordable Housing Bond Fund LP (SHI - Lake Worth LLC) 3.25%, 12/01/2051(a) | 1,000 | 925,637 | ||||||
Bexley Community Development District 4.875%, 05/01/2047 | 100 | 105,378 | ||||||
Capital Trust Agency, Inc. (Educational Growth Fund LLC) 5.00%, 07/01/2056(a) | 100 | 110,335 | ||||||
City of Tampa FL (State of Florida Cigarette Tax Revenue) | 1,000 | 291,336 | ||||||
County of Broward FL Airport System Revenue Series 2019-A 4.00%, 10/01/2044 | 1,000 | 1,089,429 |
5
Principal Amount (000) | U.S. $ Value | |||||||
County of Lake FL (Waterman Communities, Inc.) | $ | 100 | $ | 100,601 | ||||
County of Miami-Dade FL (County of Miami-Dade FL Non-Ad Valorem) | 780 | 871,650 | ||||||
County of Miami-Dade FL Aviation Revenue | 265 | 295,109 | ||||||
County of Miami-Dade Seaport Department AGM | 2,000 | 2,259,944 | ||||||
County of Osceola FL Transportation Revenue | 230 | 146,391 | ||||||
Florida Development Finance Corp. | 4,300 | 4,296,097 | ||||||
Florida Development Finance Corp. (Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.) | 100 | 104,422 | ||||||
North Broward Hospital District | 270 | 308,358 | ||||||
Orange County Health Facilities Authority (Presbyterian Retirement Communities, Inc. Obligated Group) | 250 | 257,926 | ||||||
Palm Beach County Educational Facilities Authority (Palm Beach Atlantic University Obligated Group) | 1,000 | 1,098,427 | ||||||
Palm Beach County Health Facilities Authority (Federation CCRC Operations Corp. Obligated Group) | 100 | 100,965 | ||||||
Pinellas County Industrial Development Authority | 505 | 569,532 | ||||||
Town of Davie FL (Nova Southeastern University, Inc.) | 655 | 760,176 | ||||||
Village Community Development District No. 13 | 620 | 646,853 | ||||||
|
| |||||||
�� | 14,338,566 | |||||||
|
|
6
Principal Amount (000) | U.S. $ Value | |||||||
Georgia – 0.5% |
| |||||||
Main Street Natural Gas, Inc. (Citadel LP) | $ | 1,000 | $ | 1,084,767 | ||||
Municipal Electric Authority of Georgia | 100 | 118,464 | ||||||
|
| |||||||
1,203,231 | ||||||||
|
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Guam – 1.0% |
| |||||||
Antonio B Won Pat International Airport Authority | 1,000 | 1,018,029 | ||||||
Territory of Guam | 210 | 234,279 | ||||||
Territory of Guam (Territory of Guam Business Privilege Tax) | 1,000 | 1,182,696 | ||||||
|
| |||||||
2,435,004 | ||||||||
|
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Hawaii – 1.3% |
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City & County of Honolulu HI | 3,000 | 3,321,832 | ||||||
|
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Illinois – 6.6% |
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Chicago Board of Education | ||||||||
Series 2012-A | 240 | 245,734 | ||||||
Series 2019-A | 200 | 235,090 | ||||||
Series 2019-B | 100 | 116,240 | ||||||
Series 2022-B | 2,000 | 2,135,721 | ||||||
Chicago O’Hare International Airport | ||||||||
Series 2015-C | 335 | 365,755 | ||||||
Series 2017-B | 725 | 842,559 | ||||||
Illinois Finance Authority | 100 | 112,392 | ||||||
Illinois Finance Authority (Illinois Institute of Technology) | 100 | 111,174 | ||||||
Illinois Finance Authority (Park Place of Elmhurst Obligated Group) | 77 | 71,845 | ||||||
Illinois Finance Authority (Silver Cross Hospital Obligated Group) | 250 | 278,386 |
7
Principal Amount (000) | U.S. $ Value | |||||||
Illinois Finance Authority (University of Chicago (The)) | $ | 3,000 | $ | 4,243,802 | ||||
Illinois State Toll Highway Authority | 1,000 | 1,140,764 | ||||||
Metropolitan Pier & Exposition Authority | 600 | 655,980 | ||||||
Series 2020 | 640 | 726,605 | ||||||
Series 2022 | 1,000 | 1,081,615 | ||||||
State of Illinois | 250 | 308,011 | ||||||
Series 2013 | 270 | 287,131 | ||||||
Series 2016 | 375 | 402,603 | ||||||
Series 2017-D | 930 | 1,073,896 | ||||||
Series 2018-A | 1,000 | 1,155,817 | ||||||
Series 2019-B | 1,000 | 1,190,739 | ||||||
|
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16,781,859 | ||||||||
|
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Indiana – 1.0% |
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City of Valparaiso IN (Green Oaks of Valparaiso LLC) | 150 | 142,533 | ||||||
Indiana Finance Authority | 100 | 105,615 | ||||||
Indiana Finance Authority (Brightmark Plastics Renewal Indiana LLC) | 650 | 512,551 | ||||||
Indiana Finance Authority (Fulcrum Centerpoint LLC) | 1,000 | 997,115 | ||||||
Indiana Finance Authority (Good Samaritan Hospital Obligated Group) | 100 | 117,078 | ||||||
Indiana Finance Authority (Greencroft Goshen Obligated Group) | 100 | 102,020 | ||||||
Indiana Finance Authority (Marquette Manor) | 190 | 206,409 | ||||||
Indiana Finance Authority (Ohio Valley Electric Corp.) |
8
Principal Amount (000) | U.S. $ Value | |||||||
2.50%, 11/01/2030 | $ | 165 | $ | 158,897 | ||||
Indiana Housing & Community Development Authority (Vita of Marion LLC) | 100 | 100,304 | ||||||
|
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2,442,522 | ||||||||
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Iowa – 0.6% |
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Iowa Finance Authority (Lifespace Communities, Inc. Obligated Group) | 825 | 894,653 | ||||||
Iowa Finance Authority (Wesley Retirement Services, Inc. Obligated Group) | 625 | 664,212 | ||||||
|
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1,558,865 | ||||||||
|
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Kentucky – 1.7% |
| |||||||
City of Ashland KY (Ashland Hospital Corp. Obligated Group) | 385 | 427,285 | ||||||
Kentucky Economic Development Finance Authority (Baptist Healthcare System Obligated Group) | 175 | 203,020 | ||||||
Kentucky Economic Development Finance Authority (CommonSpirit Health) | 160 | 176,478 | ||||||
Kentucky Economic Development Finance Authority (Masonic Homes of Kentucky, Inc. Obligated Group) | 65 | 65,275 | ||||||
Kentucky Economic Development Finance Authority (Owensboro Health, Inc. Obligated Group) | 425 | 486,376 | ||||||
Kentucky Public Energy Authority (BP PLC) | 600 | 653,560 | ||||||
Louisville and Jefferson County Metropolitan Sewer District | 2,000 | 2,033,965 | ||||||
Louisville/Jefferson County Metropolitan Government (Norton Healthcare Obligated Group) |
9
Principal Amount (000) | U.S. $ Value | |||||||
5.00%, 10/01/2033 | $ | 225 | $ | 258,066 | ||||
|
| |||||||
4,304,025 | ||||||||
|
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Louisiana – 1.1% |
| |||||||
City of New Orleans LA Water System Revenue | 100 | 110,589 | ||||||
Louisiana Local Government Environmental Facilities & Community Development Auth (Woman’s Hospital Foundation) | 675 | 783,371 | ||||||
Louisiana Public Facilities Authority (Louisiana Pellets, Inc.) | 250 | 3 | ||||||
Louisiana Public Facilities Authority (Louisiana State University & Agricultural & Mechanical College Auxiliary Revenue) | 1,335 | 1,550,733 | ||||||
New Orleans Aviation Board | 215 | 245,505 | ||||||
Parish of St. James LA (NuStar Logistics LP) 6.35%, 07/01/2040(a) | 100 | 127,749 | ||||||
|
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2,817,950 | ||||||||
|
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Maine – 0.0% |
| |||||||
Finance Authority of Maine (Casella Waste Systems, Inc.) | 100 | 110,320 | ||||||
|
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Maryland – 3.5% |
| |||||||
City of Baltimore MD (East Baltimore Research Park Project) | 150 | 165,306 | ||||||
Maryland Economic Development Corp. (Air Cargo Obligated Group) | 600 | 663,978 | ||||||
Maryland Economic Development Corp. (Bowie State University) | 1,000 | 1,152,871 | ||||||
Maryland Health & Higher Educational Facilities Authority (Adventist Healthcare Obligated Group) | 500 | 621,927 |
10
Principal Amount (000) | U.S. $ Value | |||||||
Maryland Stadium Authority (Baltimore City Public School Construction Financing Fund) | $ | 1,000 | $ | 1,377,901 | ||||
State of Maryland | 1,000 | 1,143,006 | ||||||
State of Maryland Department of Transportation | 3,500 | 3,636,771 | ||||||
|
| |||||||
8,761,760 | ||||||||
|
| |||||||
Massachusetts – 1.5% | ||||||||
Commonwealth of Massachusetts CIFGNA Series 2007-A | 1,300 | 1,294,300 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue | 1,000 | 1,251,419 | ||||||
Massachusetts Development Finance Agency (Merrimack College) Series 2014 | 620 | 670,311 | ||||||
Massachusetts Development Finance Agency (Zero Waste Solutions LLC) | 325 | 370,500 | ||||||
Series 2017-A 7.75%, 12/01/2044(f) (g) | 140 | 140,000 | ||||||
|
| |||||||
3,726,530 | ||||||||
|
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Michigan – 1.1% | ||||||||
City of Detroit MI | 245 | 226,620 | ||||||
Series 2018 5.00%, 04/01/2038 | 75 | 85,162 | ||||||
Series 2021-B 3.644%, 04/01/2034 | 200 | 194,619 | ||||||
City of Detroit MI Sewage Disposal System Revenue (Great Lakes Water Authority Sewage Disposal System Revenue) | 115 | 117,127 | ||||||
AGM Series 2006-D 0.744% (LIBOR 3 Month + 0.60%), 07/01/2032(c) | 1,000 | 993,750 | ||||||
Michigan Finance Authority (Michigan Finance Authority Tobacco Settlement Revenue) | 1,000 | 1,032,326 | ||||||
Series 2020-B Zero Coupon, 06/01/2065 | 350 | 45,080 |
11
Principal Amount (000) | U.S. $ Value | |||||||
Michigan Tobacco Settlement Finance Authority (Tobacco Settlement Financing Corp./MI) | $ | 1,450 | $ | 71,729 | ||||
|
| |||||||
2,766,413 | ||||||||
|
| |||||||
Minnesota – 0.3% | ||||||||
City of Minneapolis MN/St. Paul Housing & Redevelopment Authority (Allina Health Obligated Group) | 200 | 200,000 | ||||||
City of Wayzata MN (Wayzata Bay Senior Housing, Inc.) | 105 | 110,972 | ||||||
Duluth Economic Development Authority (Benedictine Health System Obligated Group) | 200 | 209,743 | ||||||
Housing & Redevelopment Authority of The City of St. Paul Minnesota (Minnesota Math & Science Academy) | 200 | 187,171 | ||||||
|
| |||||||
707,886 | ||||||||
|
| |||||||
Mississippi – 0.5% | ||||||||
Mississippi Development Bank (Magnolia Regional Health Center) | 1,000 | 1,100,998 | ||||||
Mississippi Hospital Equipment & Facilities Authority (Baptist Memorial Health Care Obligated Group) | 250 | 286,522 | ||||||
|
| |||||||
1,387,520 | ||||||||
|
| |||||||
Missouri – 0.2% | ||||||||
Kansas City Industrial Development Authority | 190 | 191,230 | ||||||
Lee’s Summit Industrial Development Authority (John Knox Village Obligated Group) | 300 | 338,252 | ||||||
|
| |||||||
529,482 | ||||||||
|
| |||||||
Nebraska – 0.0% | ||||||||
Central Plains Energy Project (Goldman Sachs Group, Inc. (The)) | 100 | 102,485 | ||||||
|
| |||||||
Nevada – 0.9% | ||||||||
Clark County School District | 1,000 | 1,168,565 |
12
Principal Amount (000) | U.S. $ Value | |||||||
State of Nevada Department of Business & Industry | $ | 1,000 | $ | 1,000,000 | ||||
|
| |||||||
2,168,565 | ||||||||
|
| |||||||
New Hampshire – 0.1% | ||||||||
New Hampshire Business Finance Authority (New Hampshire Business Finance Authority) | 209 | 234,237 | ||||||
|
| |||||||
New Jersey – 3.5% | ||||||||
Essex County Improvement Authority (Friends of TEAM Academy Charter School Obligated Group) | 1,100 | 1,191,742 | ||||||
New Jersey Economic Development Authority | 200 | 217,814 | ||||||
New Jersey Economic Development Authority (New Jersey Economic Development Authority State Lease) | 1,000 | 1,148,729 | ||||||
New Jersey Economic Development Authority (United Airlines, Inc.) | 210 | 215,913 | ||||||
New Jersey Educational Facilities Authority (Stevens Institute of Technology) | 100 | 118,638 | ||||||
New Jersey Health Care Facilities Financing Authority (Inspira Health Obligated Group) | 280 | 326,742 | ||||||
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Fed Hwy Grant) | 550 | 628,710 | ||||||
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Trust Fund Authority State Lease) | 340 | 398,834 | ||||||
Series 2022-A | 1,000 | 1,237,063 | ||||||
New Jersey Turnpike Authority | 540 | 644,146 | ||||||
Series 2020-D | 1,350 | 1,548,074 |
13
Principal Amount (000) | U.S. $ Value | |||||||
Tobacco Settlement Financing Corp./NJ | $ | 1,045 | $ | 1,163,373 | ||||
|
| |||||||
8,839,778 | ||||||||
|
| |||||||
New York – 5.1% | ||||||||
Build NYC Resource Corp. (Integration Charter Schools) | 400 | 437,128 | ||||||
Metropolitan Transportation Authority | 1,000 | 1,213,127 | ||||||
Series 2020-C | 1,000 | 1,161,646 | ||||||
Series 2020-E | 1,155 | 1,275,646 | ||||||
Series 2021-D | 950 | 942,562 | ||||||
Monroe County Industrial Development Corp./NY (St. Ann’s of Greater Rochester Obligated Group) | 550 | 572,462 | ||||||
New York City Transitional Finance Authority Building Aid Revenue (New York City Transitional Finance Authority Building Aid Revenue State Lease) | 865 | 1,047,103 | ||||||
New York Counties Tobacco Trust V | 350 | 56,400 | ||||||
New York State Dormitory Authority (Garnet Health Medical Center Obligated Group) | 200 | 231,207 | ||||||
New York State Dormitory Authority (State of New York Pers Income Tax) | 425 | 458,073 | ||||||
New York State Thruway Authority (New York State Thruway Authority Ded Tax) | 365 | 367,792 | ||||||
New York State Thruway Authority (State of New York Pers Income Tax) | 2,000 | 2,243,799 | ||||||
New York Transportation Development Corp. (Delta Air Lines, Inc.) | 275 | 299,150 | ||||||
Series 2020 | 300 | 336,392 | ||||||
New York Transportation Development Corp. (Laguardia Gateway Partners LLC) | 150 | 159,897 |
14
Principal Amount (000) | U.S. $ Value | |||||||
Triborough Bridge & Tunnel Authority (Metropolitan Transportation Authority Payroll Mobility Tax Revenue) | $ | 500 | $ | 490,322 | ||||
4.00%, 05/15/2046 | 1,000 | 1,121,052 | ||||||
Ulster County Capital Resource Corp. (Woodland Pond at New Paltz) | 120 | 116,077 | ||||||
Westchester County Local Development Corp. (Purchase Senior Learning Community Obligated Group) | 250 | 249,122 | ||||||
Western Regional Off-Track Betting Corp. | 100 | 96,766 | ||||||
|
| |||||||
12,875,723 | ||||||||
|
| |||||||
North Carolina – 1.3% |
| |||||||
Fayetteville State University | 1,045 | 1,231,143 | ||||||
North Carolina Turnpike Authority | 500 | 570,318 | ||||||
University of North Carolina at Chapel Hill (University of North Carolina Hospitals at Chapel Hill) | 1,000 | 1,385,192 | ||||||
|
| |||||||
3,186,653 | ||||||||
|
| |||||||
North Dakota – 0.0% |
| |||||||
County of Grand Forks ND (Red River Biorefinery LLC) | 100 | 98,394 | ||||||
|
| |||||||
Ohio – 2.5% |
| |||||||
Buckeye Tobacco Settlement Financing Authority | 2,035 | 2,236,850 | ||||||
City of Akron OH (City of Akron OH Income Tax) | 445 | 451,704 | ||||||
City of Chillicothe OH (Adena Health System Obligated Group) | 175 | 202,248 | ||||||
Cleveland-Cuyahoga County Port Authority (Cleveland-Cuyahoga County Port Authority Flats East Bank TIF District) | 500 | 509,755 |
15
Principal Amount (000) | U.S. $ Value | |||||||
County of Cuyahoga OH (County of Cuyahoga OH Lease) | $ | 365 | $ | 390,868 | ||||
County of Cuyahoga/OH (MetroHealth System (The)) | 205 | 235,848 | ||||||
County of Marion OH (United Church Homes, Inc. Obligated Group) | 100 | 108,993 | ||||||
County of Montgomery OH (Trousdale Foundation Obligated Group) | 100 | 48,000 | ||||||
Jefferson County Port Authority/OH (JSW Steel USA Ohio, Inc.) | 1,000 | 960,485 | ||||||
Ohio Air Quality Development Authority (Energy Harbor Nuclear Generation LLC) | 100 | 100,800 | ||||||
Ohio Air Quality Development Authority (Ohio Valley Electric Corp.) 3.25%, 09/01/2029 | 580 | 595,705 | ||||||
Ohio Air Quality Development Authority (Pratt Paper OH, Inc.) | 185 | 205,941 | ||||||
Ohio Water Development Authority Water Pollution Control Loan Fund (Energy Harbor Nuclear Generation LLC) | 140 | 141,120 | ||||||
Port of Greater Cincinnati Development Authority | 100 | 98,087 | ||||||
|
| |||||||
6,286,404 | ||||||||
|
| |||||||
Oklahoma – 0.7% |
| |||||||
Norman Regional Hospital Authority (Norman Regional Hospital Authority Obligated Group) | 505 | 525,474 | ||||||
Oklahoma Development Finance Authority | 1,180 | �� | 1,329,272 | |||||
|
| |||||||
1,854,746 | ||||||||
|
|
16
Principal Amount (000) | U.S. $ Value | |||||||
Other – 0.2% |
| |||||||
Federal Home Loan Mortgage Corp. Multifamily VRD Certificates (FHLMC Multifamily VRD Certificates) | $ | 375 | $ | 380,360 | ||||
|
| |||||||
Pennsylvania – 5.0% |
| |||||||
Allegheny County Airport Authority | 2,000 | 2,245,155 | ||||||
Beaver County Industrial Development Authority (Energy Harbor Nuclear Generation LLC) | 130 | 131,210 | ||||||
Bucks County Industrial Development Authority (Grand View Hospital/Sellersville PA Obligated Group) | 250 | 295,207 | ||||||
Lancaster County Hospital Authority/PA (St. Anne’s Retirement Community Obligated Group) | 100 | 110,926 | ||||||
Montgomery County Higher Education and Health Authority (Thomas Jefferson University Obligated Group) | 2,000 | 2,371,670 | ||||||
Moon Industrial Development Authority (Baptist Homes Society) | 100 | 106,945 | ||||||
Pennsylvania Economic Development Financing Authority (Covanta Holding Corp.) | 510 | 513,657 | ||||||
Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) | 100 | 114,397 | ||||||
Pennsylvania Higher Educational Facilities Authority (University of Pennsylvania Health System Obligated Group (The)) | 2,000 | 2,264,473 | ||||||
5.00%, 08/15/2033(b) | 1,050 | 1,328,726 | ||||||
Pennsylvania Turnpike Commission | 200 | 231,659 | ||||||
Series 2021-B | 1,000 | 1,248,119 |
17
Principal Amount (000) | U.S. $ Value | |||||||
Philadelphia Authority for Industrial Development (MaST Community Charter School III) | $ | 100 | $ | 114,894 | ||||
School District of Philadelphia (The) | 1,350 | 1,629,324 | ||||||
|
| |||||||
12,706,362 | ||||||||
|
| |||||||
Puerto Rico – 2.5% |
| |||||||
Children’s Trust Fund | 2,000 | 144,028 | ||||||
Series 2008-B | 5,000 | 281,823 | ||||||
Commonwealth of Puerto Rico | 30 | 30,263 | ||||||
Series 2011-A | 40 | 39,900 | ||||||
Series 2012-A | 100 | 95,125 | ||||||
Series 2014-A | 135 | 121,500 | ||||||
GDB Debt Recovery Authority of Puerto Rico | 128 | 118,486 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority | 90 | 96,832 | ||||||
Series 2012-A | 215 | 218,795 | ||||||
5.125%, 07/01/2037 | 25 | 25,454 | ||||||
5.25%, 07/01/2029-07/01/2042 | 200 | 203,736 | ||||||
5.50%, 07/01/2028 | 75 | 76,478 | ||||||
5.75%, 07/01/2037 | 50 | 51,037 | ||||||
6.00%, 07/01/2047 | 50 | 51,085 | ||||||
Puerto Rico Electric Power Authority | 330 | 339,900 | ||||||
Series 2008-W | 245 | 252,350 | ||||||
5.375%, 07/01/2024 | 125 | 129,375 | ||||||
Series 2010-A | 115 | 118,881 | ||||||
Series 2010-C | 25 | 25,750 | ||||||
5.25%, 07/01/2028(e) (k) | 175 | 180,906 | ||||||
Series 2010-D | 15 | 15,450 | ||||||
Series 2010-X | 340 | 351,475 | ||||||
5.75%, 07/01/2036(e) (k) | 125 | 130,156 | ||||||
Series 2010-Z | 40 | 41,350 | ||||||
Series 2012-A | 60 | 61,800 |
18
Principal Amount (000) | U.S. $ Value | |||||||
AGM Series 2007-V | $ | 375 | $ | 388,104 | ||||
Puerto Rico Highway & Transportation Authority AGC | 125 | 134,319 | ||||||
AGC Series 2007-N | 110 | 118,000 | ||||||
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth (AES Puerto Rico LP) | 390 | 402,675 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 2,153 | 722,400 | ||||||
Series 2019-A | 440 | 477,617 | ||||||
5.00%, 07/01/2058 | 867 | 963,693 | ||||||
|
| |||||||
6,408,743 | ||||||||
|
| |||||||
South Carolina – 1.2% |
| |||||||
Richland County School District No. 2/SC | 2,000 | 2,000,000 | ||||||
South Carolina Jobs-Economic Development Authority (Last Step Recycling LLC) | 100 | 100,404 | ||||||
South Carolina Public Service Authority | 220 | 245,314 | ||||||
Series 2014-C 5.00%, 12/01/2046 | 325 | 368,656 | ||||||
Series 2016-A 5.00%, 12/01/2036 | 265 | 303,895 | ||||||
|
| |||||||
3,018,269 | ||||||||
|
| |||||||
Tennessee – 0.7% |
| |||||||
Bristol Industrial Development Board (Bristol Industrial Development Board Sales Tax) | 370 | 378,251 | ||||||
5.125%, 12/01/2042(a) | 250 | 254,232 | ||||||
Chattanooga Health Educational & Housing Facility Board (CommonSpirit Health) | 130 | 144,008 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Trevecca Nazarene University) | 250 | 261,401 |
19
Principal Amount (000) | U.S. $ Value | |||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Trousdale Foundation Obligated Group) | $ | 135 | $ | 64,800 | ||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board (Vanderbilt University Medical Center Obligated Group) | 215 | 246,638 | ||||||
Metropolitan Government Nashville & Davidson County Industrial Development Board (South Nashville Central Business Improvement District) | 100 | 98,972 | ||||||
Wilson County Health & Educational Facilities Board | 200 | 189,702 | ||||||
4.25%, 12/01/2024 | 200 | 197,469 | ||||||
|
| |||||||
1,835,473 | ||||||||
|
| |||||||
Texas – 4.4% |
| |||||||
Abilene Convention Center Hotel Development Corp. (City of Abilene TX Abilene Convention Center Revenue) | 250 | 276,909 | ||||||
Series 2021-B | 200 | 210,233 | ||||||
Austin Convention Enterprises, Inc. | 500 | 546,147 | ||||||
Baytown Municipal Development District (Baytown Municipal Development District Hotel Occupancy Tax) | 400 | 420,788 | ||||||
Central Texas Regional Mobility Authority | 100 | 103,850 | ||||||
Series 2021-C | 1,000 | 1,127,378 | ||||||
City of Houston TX (City of Houston TX Hotel Occupancy Tax) | 160 | 173,293 | ||||||
City of San Antonio TX Electric & Gas Systems Revenue | 1,000 | 1,223,878 |
20
Principal Amount (000) | U.S. $ Value | |||||||
Conroe Local Government Corp. (Conroe Local Government Corp. Conroe Convention Center Hotel) | $ | 1,000 | $ | 1,098,395 | ||||
Dallas Area Rapid Transit | 580 | 642,274 | ||||||
Dallas County Flood Control District No. 1 | 100 | 101,697 | ||||||
Hidalgo County Regional Mobility Authority | 1,600 | 1,765,072 | ||||||
Series 2022-B | 1,400 | 594,357 | ||||||
Love Field Airport Modernization Corp. (Dallas Love Field) | 500 | 557,893 | ||||||
Mission Economic Development Corp. (Natgasoline LLC) | 450 | 473,237 | ||||||
New Hope Cultural Education Facilities Finance Corp. (Morningside Ministries Obligated Group) | 100 | 108,378 | ||||||
North Texas Tollway Authority (North Texas Tollway System) | 250 | 275,653 | ||||||
Port Beaumont Navigation District (Jefferson Railport Terminal II LLC) | 100 | 100,929 | ||||||
Series 2021 | 300 | 285,810 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. (Edgemere Retirement Senior Quality Lifestyles Corp.) | 675 | 148,500 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. (Stayton at Museum Way) | 456 | 477,832 | ||||||
Tarrant County Cultural Education Facilities Finance Corp. (Trinity Terrace Project) | 100 | 107,203 | ||||||
Texas Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners Segments 3 LLC) | 235 | 272,447 | ||||||
|
| |||||||
11,092,153 | ||||||||
|
|
21
Principal Amount (000) | U.S. $ Value | |||||||
Utah – 0.6% |
| |||||||
City of Salt Lake City UT Airport Revenue | $ | 1,000 | $ | 1,171,221 | ||||
Military Installation Development Authority | 500 | 453,946 | ||||||
|
| |||||||
1,625,167 | ||||||||
|
| |||||||
Virginia – 1.9% |
| |||||||
Tobacco Settlement Financing Corp./VA | 165 | 166,212 | ||||||
Virginia Small Business Financing Authority (95 Express Lanes LLC) | 2,500 | 2,503,768 | ||||||
Virginia Small Business Financing Authority (Elizabeth River Crossings OpCo LLC) | 2,000 | 2,185,528 | ||||||
|
| |||||||
4,855,508 | ||||||||
|
| |||||||
Washington – 1.9% |
| |||||||
City of Seattle WA Municipal Light & Power Revenue | 1,000 | 1,185,212 | ||||||
Pend Oreille County Public Utility District No. 1 Box Canyon | 280 | 318,090 | ||||||
Port of Seattle WA | 510 | 554,266 | ||||||
Series 2021 | 1,000 | 1,137,076 | ||||||
Washington Health Care Facilities Authority (Seattle Cancer Care Alliance Obligated Group) | 1,000 | 1,110,671 | ||||||
Washington State Convention Center Public Facilities District (Washington State Convention Center Public Facilities District Hotel Occupancy Tax) | 235 | 261,825 | ||||||
Washington State Housing Finance Commission | 100 | 103,949 | ||||||
Washington State Housing Finance Commission (Rockwood Retirement Communities) | 100 | 108,386 | ||||||
|
| |||||||
4,779,475 | ||||||||
|
|
22
Principal Amount (000) | U.S. $ Value | |||||||
West Virginia – 0.5% |
| |||||||
City of South Charleston WV (City of South Charleston WV South Charleston Park Place Excise Tax District) | $ | 250 | $ | 243,017 | ||||
Tobacco Settlement Finance Authority/WV | 880 | 896,443 | ||||||
|
| |||||||
1,139,460 | ||||||||
|
| |||||||
Wisconsin – 3.2% |
| |||||||
St. Croix Chippewa Indians of Wisconsin | 200 | 187,603 | ||||||
UMA Education, Inc. | 330 | 374,841 | ||||||
Wisconsin Health & Educational Facilities Authority (Oakwood Lutheran Senior Ministries Obligated Group) | 100 | 103,776 | ||||||
Wisconsin Health & Educational Facilities Authority (St John’s Communities, Inc. Obligated Group) | 2,190 | 2,237,339 | ||||||
Wisconsin Health & Educational Facilities Authority (St. Camillus Health System Obligated Group) | 100 | 108,311 | ||||||
Wisconsin Public Finance Authority (21st Century Public Academy) | 350 | 353,737 | ||||||
Wisconsin Public Finance Authority (Catholic Bishop of Chicago (The)) | 1,000 | 1,054,689 | ||||||
Wisconsin Public Finance Authority (Celanese US Holdings LLC) | 100 | 109,105 | ||||||
Wisconsin Public Finance Authority (Mary’s Woods at Marylhurst, Inc.) | 130 | 139,149 | ||||||
Wisconsin Public Finance Authority (McLemore Resort Manager LLC) | 150 | 144,876 |
23
Principal Amount (000) | U.S. $ Value | |||||||
Wisconsin Public Finance Authority (Roseman University of Health Sciences) | $ | 1,000 | $ | 1,045,632 | ||||
Wisconsin Public Finance Authority (Samaritan Housing Foundation Obligated Group) | 500 | 463,888 | ||||||
Series 2022 | 100 | 91,309 | ||||||
Wisconsin Public Finance Authority (Southeastern Regional Medical Center Obligated Group) | 1,300 | 1,447,455 | ||||||
Wisconsin Public Finance Authority (Washoe Barton Medical Clinic) | 300 | 332,559 | ||||||
|
| |||||||
8,194,269 | ||||||||
|
| |||||||
Total Long-Term Municipal Bonds |
| 192,843,524 | ||||||
|
| |||||||
Short-Term Municipal Notes – 35.1% |
| |||||||
California – 6.6% |
| |||||||
Abag Finance Authority for Nonprofit Corps. (Sharp Healthcare Obligated Group) | 2,920 | 2,920,000 | ||||||
California Statewide Communities Development Authority (Rady Children’s Hospital-San Diego/CA) | 2,000 | 2,000,000 | ||||||
City of Irvine CA (City of Irvine CA Assessment District No. 03-19) | 1,000 | 1,000,000 | ||||||
City of Irvine CA (City of Irvine CA Assessment District No. 97-17) | 2,880 | 2,880,000 | ||||||
County of San Bernardino CA (WLP Green Valley Apartments LLC) | 2,000 | 2,000,000 | ||||||
Irvine Ranch Water District | 3,010 | 3,010,000 | ||||||
San Mateo County Transportation Authority | 1,600 | 1,600,000 |
24
Principal Amount (000) | U.S. $ Value | |||||||
Santa Clara Valley Transportation Authority (Santa Clara Valley Transportation Authority 2000 Measure A Sales Tax) | $ | 1,250 | $ | 1,250,000 | ||||
|
| |||||||
16,660,000 | ||||||||
|
| |||||||
Colorado – 1.0% |
| |||||||
Colorado Educational & Cultural Facilities Authority (Michael Ann Russell Jewish Community Center, Inc.) | 2,500 | 2,500,000 | ||||||
|
| |||||||
District of Columbia – 2.2% |
| |||||||
District of Columbia (Carnegie Endowment for International Peace) | 1,075 | 1,075,000 | ||||||
District of Columbia (Georgetown University (The)) | 1,390 | 1,390,000 | ||||||
District of Columbia (MedStar Health Obligated Group) | 1,075 | 1,075,000 | ||||||
Series 2017-A | 2,000 | 2,000,000 | ||||||
|
| |||||||
5,540,000 | ||||||||
|
| |||||||
Florida – 3.4% |
| |||||||
City of Gainesville FL (Gainesville Jewish Student Foundation, Inc.) | 1,250 | 1,250,000 | ||||||
County of Palm Beach FL (Raymond F Kravis Center for the Performing Arts, Inc. (The)) | 1,250 | 1,250,000 | ||||||
Sarasota County Public Hospital District (Sarasota County Public Hospital District Obligated Group) | 1,000 | 1,000,000 | ||||||
School Board of Miami-Dade County (The) | 5,000 | 5,006,495 | ||||||
|
| |||||||
8,506,495 | ||||||||
|
| |||||||
Hawaii – 0.5% |
| |||||||
Hawaii Housing Finance & Development Corp. (Ho’olehua Housing LP) | 1,255 | 1,255,000 | ||||||
|
|
25
Principal Amount (000) | U.S. $ Value | |||||||
Illinois – 1.2% |
| |||||||
Illinois Finance Authority (Illinois College) | $ | 1,475 | $ | 1,475,000 | ||||
Illinois Finance Authority (OSF Healthcare System Obligated Group) | 1,550 | 1,550,000 | ||||||
|
| |||||||
3,025,000 | ||||||||
|
| |||||||
Indiana – 0.8% |
| |||||||
Indiana Municipal Power Agency | 2,145 | 2,145,000 | ||||||
|
| |||||||
Iowa – 1.1% |
| |||||||
Iowa Finance Authority (Iowa Health System Obligated Group) | 2,720 | 2,720,000 | ||||||
|
| |||||||
Louisiana – 1.9% |
| |||||||
Louisiana Public Facilities Authority (ANF Partners #1 LP) | 1,150 | 1,150,000 | ||||||
Louisiana Public Facilities Authority (CHRISTUS Health Obligated Group) | 2,000 | 2,000,000 | ||||||
0.08%, 07/01/2047(i) | 1,655 | 1,655,000 | ||||||
|
| |||||||
4,805,000 | ||||||||
|
| |||||||
Minnesota – 0.7% |
| |||||||
City of Minneapolis MN/St. Paul Housing & Redevelopment Authority (Allina Health Obligated Group) | 1,700 | 1,700,000 | ||||||
|
| |||||||
Nevada – 1.2% |
| |||||||
County of Clark Department of Aviation | 3,000 | 3,000,000 | ||||||
|
| |||||||
New Jersey – 0.6% |
| |||||||
New Jersey Health Care Facilities Financing Authority (AHS Hospital Corp.) | 500 | 500,000 |
26
Principal Amount (000) | U.S. $ Value | |||||||
Series 2008-C | $ | 1,000 | $ | 1,000,000 | ||||
|
| |||||||
1,500,000 | ||||||||
|
| |||||||
New York – 4.6% | ||||||||
City of New York NY | 2,000 | 2,000,000 | ||||||
Series 2016 | 1,500 | 1,500,000 | ||||||
New York City Health and Hospitals Corp. | 1,635 | 1,635,000 | ||||||
New York City Housing Development Corp. (2 Gold LLC) | 900 | 900,000 | ||||||
New York State Housing Finance Agency (42nd and 10th Associates LLC) | 2,450 | 2,450,000 | ||||||
Triborough Bridge & Tunnel Authority | 3,215 | 3,215,000 | ||||||
|
| |||||||
11,700,000 | ||||||||
|
| |||||||
Ohio – 0.6% |
| |||||||
Columbus Regional Airport Authority | 1,570 | 1,570,000 | ||||||
|
| |||||||
Puerto Rico – 0.4% |
| |||||||
Commonwealth of Puerto Rico | 1,050 | 1,067,063 | ||||||
|
| |||||||
Rhode Island – 0.5% |
| |||||||
Rhode Island Health and Educational Building Corp. (Roger Williams University) | 1,215 | 1,215,000 | ||||||
|
| |||||||
South Carolina – 1.6% |
| |||||||
Lexington County School District No. 3/SC | 4,000 | 4,077,247 | ||||||
|
| |||||||
Texas – 2.1% |
| |||||||
City of Houston TX | 4,000 | 4,025,027 | ||||||
City of Houston TX Combined Utility System Revenue | 1,000 | 1,000,000 |
27
Principal Amount (000) | U.S. $ Value | |||||||
Newark Higher Education Finance Corp. (TLC Academy) | $ | 335 | $ | 333,834 | ||||
|
| |||||||
5,358,861 | ||||||||
|
| |||||||
Vermont – 1.3% |
| |||||||
Vermont Educational & Health Buildings Financing Agency (University of Vermont Health Network Obligated Group) | 2,500 | 2,500,000 | ||||||
Washington State Housing Finance Commission (Bitter Lake Village Associates 2 LP) | 690 | 690,000 | ||||||
|
| |||||||
3,190,000 | ||||||||
|
| |||||||
Virginia – 2.0% |
| |||||||
Loudoun County Economic Development Authority (Jack Kent Cooke Foundation) | 1,750 | 1,750,000 | ||||||
Roanoke Economic Development Authority (Carilion Clinic Obligated Group) | 3,425 | 3,425,000 | ||||||
|
| |||||||
5,175,000 | ||||||||
|
| |||||||
Washington – 0.8% |
| |||||||
Washington State Housing Finance Commission (Panorama/United States) | 2,000 | 2,000,000 | ||||||
|
| |||||||
Total Short-Term Municipal Notes |
| 88,709,666 | ||||||
|
| |||||||
Total Municipal Obligations |
| 281,553,190 | ||||||
|
| |||||||
CORPORATES - INVESTMENT GRADE – 1.5% |
| |||||||
Industrial – 0.8% |
| |||||||
Basic – 0.1% |
| |||||||
Yamana Gold, Inc. | 290 | 276,213 | ||||||
Consumer Cyclical - Entertainment – 0.4% |
| |||||||
YMCA of Greater New York | 1,000 | 992,280 | ||||||
Consumer Cyclical - Other – 0.3% |
| |||||||
Las Vegas Sands Corp. | 600 | 606,834 | ||||||
|
| |||||||
1,875,327 | ||||||||
|
|
28
Principal Amount (000) | U.S. $ Value | |||||||
Financial Institutions – 0.7% |
| |||||||
Banking – 0.3% |
| |||||||
Bank of America Corp. | ||||||||
5.125%, 06/20/2024(m) | $ | 100 | | $ | 102,966 | |||
Bank of New York Mellon Corp. (The) | 100 | 100,475 | ||||||
Comerica, Inc. | 100 | 107,617 | ||||||
Fifth Third Bancorp | 100 | 103,715 | ||||||
Huntington Bancshares, Inc./OH | 100 | 112,261 | ||||||
JPMorgan Chase & Co. | 50 | 51,091 | ||||||
Truist Financial Corp. | 100 | 108,463 | ||||||
Wells Fargo & Co. | 100 | 99,027 | ||||||
|
| |||||||
785,615 | ||||||||
|
| |||||||
Finance – 0.2% |
| |||||||
Air Lease Corp. | 600 | 618,114 | ||||||
|
| |||||||
Insurance – 0.2% |
| |||||||
Centene Corp. | 232 | 238,612 | ||||||
Prudential Financial, Inc. | 215 | 222,058 | ||||||
|
| |||||||
460,670 | ||||||||
|
| |||||||
1,864,399 | ||||||||
|
| |||||||
Total Corporates - Investment Grade |
| 3,739,726 | ||||||
|
| |||||||
CORPORATES - NON-INVESTMENT GRADE – 1.2% |
| |||||||
Industrial - 1.1% |
| |||||||
Communications - Media – 0.3% |
| |||||||
CCO Holdings LLC/CCO Holdings Capital Corp. | 309 | 286,449 | ||||||
DISH DBS Corp. | 240 | 232,800 | ||||||
5.75%, 12/01/2028(a) | 250 | 239,230 | ||||||
|
| |||||||
758,479 | ||||||||
|
| |||||||
Communications - Telecommunications – 0.1% |
| |||||||
Intelsat Jackson Holdings SA | 275 | 120,368 | ||||||
|
|
29
Principal Amount (000) | U.S. $ Value | |||||||
Consumer Cyclical - Entertainment – 0.3% |
| |||||||
Carnival Corp. | ||||||||
4.00%, 08/01/2028(a) | $ | 400 | $ | 380,840 | ||||
Wild Rivers Water Park | 500 | 496,352 | ||||||
|
| |||||||
877,192 | ||||||||
|
| |||||||
Consumer Non-Cyclical – 0.2% |
| |||||||
Mozart Debt Merger Sub, Inc. | 350 | 337,207 | ||||||
Newell Brands, Inc. | | 173 18 | | | 181,358 18,912 | | ||
|
| |||||||
537,477 | ||||||||
|
| |||||||
Services – 0.0% |
| |||||||
Trousdale Issuer LLC | 200 | 66,000 | ||||||
|
| |||||||
Transportation - Airlines – 0.2% |
| |||||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd. | | 155 165 | | | 158,664 169,100 | | ||
United Airlines, Inc. | 150 | 148,941 | ||||||
|
| |||||||
476,705 | ||||||||
|
| |||||||
2,836,221 | ||||||||
|
| |||||||
Utility – 0.1% |
| |||||||
Electric – 0.1% |
| |||||||
Vistra Corp. | 225 | 224,642 | ||||||
|
| |||||||
Total Corporates – Non-Investment Grade |
| 3,060,863 | ||||||
|
| |||||||
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.5% |
| |||||||
Risk Share Floating Rate – 0.5% |
| |||||||
Bellemeade Re Ltd. | 190 | 190,252 | ||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | 191 | 197,930 | ||||||
Series 2019-DNA3, Class M2 | 33 | 33,648 | ||||||
Federal National Mortgage Association Connecticut Avenue Securities | 95 | 99,226 |
30
Principal Amount (000) | U.S. $ Value | |||||||
Series 2014-C03, Class 2M2 | $ | 45 | $ | 45,997 | ||||
Series 2015-C02, Class 1M2 | 47 | 47,802 | ||||||
Series 2016-C01, Class 1M2 | 141 | 147,532 | ||||||
Series 2016-C02, Class 1M2 | 176 | 181,443 | ||||||
Series 2017-C01, Class 1M2 | 167 | 171,260 | ||||||
Series 2017-C04, Class 2M2 | 233 | 238,609 | ||||||
|
| |||||||
Total Collateralized Mortgage Obligations | 1,353,699 | |||||||
|
| |||||||
COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.5% | ||||||||
Agency CMBS – 0.3% | ||||||||
California Housing Finance Agency | 249 | 266,314 | ||||||
Series 2021-3, Class X | 998 | 69,358 | ||||||
Washington State Housing Finance Commission | 282 | 298,401 | ||||||
Series 2021-1, Class X | 992 | 57,738 | ||||||
|
| |||||||
691,811 | ||||||||
|
| |||||||
Non-Agency Floating Rate CMBS – 0.2% | ||||||||
BAMLL Commercial Mortgage Securities Trust | 250 | 249,252 | ||||||
DBWF Mortgage Trust | 275 | 274,486 | ||||||
|
| |||||||
523,738 | ||||||||
|
| |||||||
Total Commercial Mortgage-Backed Securities | 1,215,549 | |||||||
|
| |||||||
ASSET-BACKED SECURITIES – 0.3% | ||||||||
Autos - Fixed Rate – 0.1% | ||||||||
CPS Auto Receivables Trust | 250 | 247,465 | ||||||
|
|
31
Principal Amount (000) | U.S. $ Value | |||||||
Other ABS - Fixed Rate – 0.2% | ||||||||
Affirm Asset Securitization Trust | $ | 261 | $ | 259,445 | ||||
Domino’s Pizza Master Issuer LLC | 199 | 196,389 | ||||||
|
| |||||||
455,834 | ||||||||
|
| |||||||
Total Asset-Backed Securities | 703,299 | |||||||
|
| |||||||
COLLATERALIZED LOAN OBLIGATIONS – 0.1% | ||||||||
CLO - Floating Rate – 0.1% | ||||||||
THL Credit Wind River CLO Ltd. | 250 | 249,999 | ||||||
|
| |||||||
Shares | ||||||||
SHORT-TERM INVESTMENTS – 4.4% | ||||||||
Investment Companies – 4.4% | ||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(o) (p) (q) | 11,163,238 | 11,163,238 | ||||||
|
| |||||||
Total Investments – 119.8% | 303,039,563 | |||||||
Other assets less liabilities – (19.8)% | (50,001,326 | ) | ||||||
|
| |||||||
Net Assets – 100.0% | $ | 253,038,237 | ||||||
|
|
CENTRALLY CLEARED CREDIT DEFAULT SWAPS
| Fixed Rate (Pay) Receive | Payment Frequency | Implied Credit Spread at January 31, 2022 | Notional | Market Value | Upfront (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||||||||||
Buy Contracts |
| |||||||||||||||||||||||||||||||
Morgan Stanley & Co. LLC |
| |||||||||||||||||||||||||||||||
CDX-NAIG Series 36, 5 Year Index, 06/20/2026* | (1.00 | )% | Quarterly | 0.54% | USD | 4,500 | $ | (92,268 | ) | $ | (85,023 | ) | $ | (7,245 | ) | |||||||||||||||||
CDX-NAHY Series 37, 5 Year Index, 12/20/2026* | (5.00 | )% | Quarterly | 3.38% | USD | 2,500 | (186,565 | ) | (226,144 | ) | 39,579 | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (278,833 | ) | $ | (311,167 | ) | $ | 32,334 | |||||||||||||||||||||||||
|
|
|
|
|
|
* | Termination date |
32
CENTRALLY CLEARED INFLATION (CPI) SWAPS
Rate Type | ||||||||||||||||||||||||
Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Frequency Paid/ Received | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||
USD | 1,180 | 01/15/2025 | 4.028% | CPI# | Maturity | $ | 105 | $ | — | $ | 105 | |||||||||||||
USD | 4,860 | 01/15/2026 | 3.765% | CPI# | Maturity | (1,549 | ) | — | (1,549 | ) | ||||||||||||||
USD | 3,030 | 01/15/2027 | CPI# | 3.323% | Maturity | (48,061 | ) | — | (48,061 | ) | ||||||||||||||
USD | 2,760 | 01/15/2027 | CPI# | 3.466% | Maturity | (17,759 | ) | (3,723 | ) | (14,036 | ) | |||||||||||||
USD | 2,650 | 01/15/2027 | CPI# | 3.320% | Maturity | (42,555 | ) | — | (42,555 | ) | ||||||||||||||
USD | 1,110 | 01/15/2028 | 1.230% | CPI# | Maturity | 179,451 | — | 179,451 | ||||||||||||||||
USD | 650 | 01/15/2028 | 0.735% | CPI# | Maturity | 130,269 | — | 130,269 | ||||||||||||||||
USD | 4,600 | 01/15/2029 | CPI# | 3.390% | Maturity | 38,536 | — | 38,536 | ||||||||||||||||
USD | 3,720 | 01/15/2029 | CPI# | 3.331% | Maturity | 11,292 | — | 11,292 | ||||||||||||||||
USD | 1,680 | 01/15/2030 | 1.714% | CPI# | Maturity | 236,341 | — | 236,341 | ||||||||||||||||
USD | 1,680 | 01/15/2030 | 1.731% | CPI# | Maturity | 233,402 | — | 233,402 | ||||||||||||||||
USD | 1,600 | 01/15/2030 | 1.585% | CPI# | Maturity | 246,185 | — | 246,185 | ||||||||||||||||
USD | 525 | 01/15/2030 | 1.572% | CPI# | Maturity | 81,473 | — | 81,473 | ||||||||||||||||
USD | 525 | 01/15/2030 | 1.587% | CPI# | Maturity | 80,673 | — | 80,673 | ||||||||||||||||
USD | 1,650 | 01/15/2031 | 2.782% | CPI# | Maturity | 66,100 | — | 66,100 | ||||||||||||||||
USD | 1,380 | 01/15/2031 | 2.680% | CPI# | Maturity | 70,832 | — | 70,832 | ||||||||||||||||
USD | 1,100 | 01/15/2031 | 2.601% | CPI# | Maturity | 65,983 | — | 65,983 | ||||||||||||||||
USD | 920 | 01/15/2031 | 2.989% | CPI# | Maturity | 15,586 | — | 15,586 | ||||||||||||||||
USD | 1,420 | 01/15/2032 | CPI# | 3.064% | Maturity | (2,600 | ) | — | (2,600 | ) | ||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
$ | 1,343,704 | $ | (3,723 | ) | $ | 1,347,427 | ||||||||||||||||||
|
|
|
|
|
|
# | Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI). |
CENTRALLY CLEARED INTEREST RATE SWAPS
Rate Type | ||||||||||||||||||||||||
Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Frequency Paid/ Received | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||
USD | 7,000 | 01/15/2031 | 1.252% | 3 Month LIBOR | Semi-Annual/ Quarterly | $ | 346,991 | $ | — | $ | 346,991 | |||||||||||||
USD | 5,000 | 01/15/2031 | 1.276% | 3 Month LIBOR | Semi-Annual/ Quarterly | 228,458 | — | 228,458 | ||||||||||||||||
USD | 3,500 | 01/15/2031 | 1.401% | 3 Month LIBOR | Semi-Annual/ Quarterly | 129,862 | — | 129,862 | ||||||||||||||||
USD | 2,300 | 01/15/2031 | 1.269% | 3 Month LIBOR | Semi-Annual/ Quarterly | 110,729 | — | 110,729 | ||||||||||||||||
USD | 1,800 | 01/15/2031 | 1.314% | 3 Month LIBOR | Semi-Annual/ Quarterly | 76,503 | — | 76,503 |
33
Rate Type | ||||||||||||||||||||||||
Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Frequency Paid/ Received | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||
USD | 2,600 | 04/15/2032 | 1.280% | 1 Day SOFR | Annual | $ | 75,349 | $ | — | $ | 75,349 | |||||||||||||
USD | 9,300 | 02/15/2037 | 1 Day SOFR | 1.699% | Annual | 34,028 | — | 34,028 | ||||||||||||||||
USD | 1,200 | 04/01/2039 | 0.780% | 3 Month LIBOR | Semi-Annual/ Quarterly | 212,643 | (44 | ) | 212,687 | |||||||||||||||
USD | 1,100 | 04/01/2039 | 0.932% | 3 Month LIBOR | Semi-Annual/ Quarterly | 169,483 | — | 169,483 | ||||||||||||||||
USD | 1,000 | 04/01/2039 | 0.774% | 3 Month LIBOR | Semi-Annual/ Quarterly | 178,195 | — | 178,195 | ||||||||||||||||
USD | 2,300 | 02/15/2041 | 1 Day SOFR | 1.764% | Annual | 25,072 | — | 25,072 | ||||||||||||||||
USD | 1,500 | 02/15/2041 | 1 Day SOFR | 1.745% | Annual | 11,579 | — | 11,579 | ||||||||||||||||
USD | 1,000 | 02/15/2041 | 1 Day SOFR | 1.657% | Annual | (6,127 | ) | — | (6,127 | ) | ||||||||||||||
USD | 4,000 | 04/01/2044 | 3 Month LIBOR | 2.013% | Quarterly/ Semi-Annual | 44,704 | — | 44,704 | ||||||||||||||||
USD | 3,150 | 04/01/2054 | 1.583% | 3 Month LIBOR | Semi-Annual/ Quarterly | 255,059 | — | 255,059 | ||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||
$ | 1,892,528 | $ | (44 | ) | $ | 1,892,572 | ||||||||||||||||||
|
|
|
|
|
|
CREDIT DEFAULT SWAPS
Swap Counterparty & Referenced Obligation | Fixed Rate (Pay) Receive | Payment Frequency | Implied Credit Spread at January 31, 2022 | Notional | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | |||||||||||||||||||||||||
Sale Contracts | ||||||||||||||||||||||||||||||||
Citigroup Global Markets, Inc. |
| |||||||||||||||||||||||||||||||
CDX-CMBX.NA.BBB- Series 6, 05/11/2063* | 3.00 | % | Monthly | 7.50% | USD | 514 | $ | (127,605 | ) | $ | (58,376 | ) | $ | (69,229 | ) | |||||||||||||||||
CDX-CMBX.NA.BBB- Series 6, 05/11/2063* | 3.00 | Monthly | 7.50 | USD | 998 | (247,776 | ) | (124,522 | ) | (123,254 | ) | |||||||||||||||||||||
Credit Suisse International |
| |||||||||||||||||||||||||||||||
CDX-CMBX.NA.BBB- Series 6, 05/11/2063* | 3.00 | Monthly | 7.50 | USD | 998 | (247,776 | ) | (126,691 | ) | (121,085 | ) | |||||||||||||||||||||
JPMorgan Securities, LLC |
| |||||||||||||||||||||||||||||||
CDX-CMBX.NA.A Series 6, 05/11/2063* | 2.00 | Monthly | 7.50 | USD | 2,750 | (237,355 | ) | 43,422 | (280,777 | ) | ||||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | (860,512 | ) | $ | (266,167 | ) | $ | (594,345 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
* | Termination date |
34
INTEREST RATE SWAPS
Rate Type | ||||||||||||||||||||||||||||
Swap Counterparty | Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Frequency Paid/ Received | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||
Citibank, NA | USD | 2,000 | 11/23/2022 | SIFMA* | 1.510% | Maturity | $ | (63,225 | ) | $ | — | $ | (63,225 | ) | ||||||||||||||
Citibank, NA | USD | 2,000 | 01/09/2023 | SIFMA* | 1.600% | Maturity | 2,129 | — | 2,129 | |||||||||||||||||||
Citibank, NA | USD | 2,220 | 10/09/2029 | 1.120% | SIFMA* | Quarterly | 52,323 | — | 52,323 | |||||||||||||||||||
Citibank, NA | USD | 2,220 | 10/09/2029 | 1.125% | SIFMA* | Quarterly | 51,427 | — | 51,427 | |||||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 2,000 | 12/19/2022 | SIFMA* | 1.450% | Maturity | (82,215 | ) | — | (82,215 | ) | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ | (39,561 | ) | $ | — | $ | (39,561 | ) | |||||||||||||||||||||
|
|
|
|
|
|
* | Variable interest rate based on the Securities Industry & Financial Markets Association (SIFMA) Municipal Swap Index. |
(a) | Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At January 31, 2022, the aggregate market value of these securities amounted to $27,555,798 or 10.9% of net assets. |
(b) | When-Issued or delayed delivery security. |
(c) | Floating Rate Security. Stated interest/floor/ceiling rate was in effect at January 31, 2022. |
(d) | Restricted and illiquid security. |
Restricted & Illiquid Securities | Acquisition Date | Cost | Market Value | Percentage of Net Assets | ||||||||||
Louisiana Public Facilities Authority | 07/31/2014 | $ | 173,773 | $ | 3 | 0.00 | % |
(e) | Defaulted. |
(f) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(g) | Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.21% of net assets as of January 31, 2022, are considered illiquid and restricted. Additional information regarding such securities follows: |
144A/Restricted & Illiquid Securities | Acquisition Date | Cost | Market Value | Percentage of Net Assets | ||||||||||
Massachusetts Development Finance Agency | 12/07/2017 | $ | 313,240 | $ | 370,500 | 0.15 | % | |||||||
Massachusetts Development Finance Agency | 12/07/2017 | 140,000 | 140,000 | 0.06 | % |
(h) | An auction rate security whose interest rate resets at each auction date. Auctions are typically held every week or month. The rate shown is as of January 31, 2022 and the aggregate market value of this security amounted to $200,000 or 0.08% of net assets. |
35
(i) | Variable Rate Demand Notes are instruments whose interest rates change on a specific date (such as coupon date or interest payment date) or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). This instrument is payable on demand and is secured by letters of credit or other credit support agreements from major banks. |
(j) | Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Fund. |
(k) | Non-income producing security. |
(l) | Defaulted matured security. |
(m) | Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(n) | IO - Interest Only. |
(o) | Affiliated investments. |
(p) | The rate shown represents the 7-day yield as of period end. |
(q) | To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618. |
(r) | As of January 31, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $7,673,025 and gross unrealized depreciation of investments was $(5,956,608), resulting in net unrealized appreciation of $1,716,417. |
As of January 31, 2022, the Fund’s percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 2.9% and 0.0%, respectively.
Glossary:
ABS – Asset-Backed Securities
AGC – Assured Guaranty Corporation
AGM – Assured Guaranty Municipal
CCRC – Congregate Care Retirement Center
CDX-CMBX.NA – North American Commercial Mortgage-Backed Index
CDX-NAHY – North American High Yield Credit Default Swap Index
CDX-NAIG – North American Investment Grade Credit Default Swap Index
CIFGNA – CIFG Assurance North America, Inc.
CLO – Collateralized Loan Obligations
CMBS – Commercial Mortgage-Backed Securities
COP – Certificate of Participation
CPI – Consumer Price Index
ETM – Escrowed to Maturity
LIBOR – London Interbank Offered Rate
NATL – National Interstate Corporation
OSF – Order of St. Francis
SOFR – Secured Overnight Financing Rate
36
AB Bond Fund, Inc.
AB Tax-Aware Fixed Income Opportunities Portfolio
January 31, 2022 (unaudited)
In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.
• | Level 1 - quoted prices in active markets for identical investments |
• | Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.
Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.
Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.
37
The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of January 31, 2022:
Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Long-Term Municipal Bonds | $ | — | $ | 192,333,024 | $ | 510,500 | $ | 192,843,524 | ||||||||
Short-Term Municipal Notes | — | 88,709,666 | — | 88,709,666 | ||||||||||||
Corporates - Investment Grade | — | 3,739,726 | — | 3,739,726 | ||||||||||||
Corporates - Non-Investment Grade | — | 3,060,863 | — | 3,060,863 | ||||||||||||
Collateralized Mortgage Obligations | — | 1,353,699 | — | 1,353,699 | ||||||||||||
Commercial Mortgage-Backed Securities | — | 1,215,549 | — | 1,215,549 | ||||||||||||
Asset-Backed Securities | — | 703,299 | — | 703,299 | ||||||||||||
Collateralized Loan Obligations | — | 249,999 | — | 249,999 | ||||||||||||
Short-Term Investments | 11,163,238 | — | — | 11,163,238 | ||||||||||||
Liabilities: |
| |||||||||||||||
Floating Rate Notes(a) | (1,600,000 | ) | — | — | (1,600,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | 9,563,238 | 291,365,825 | 510,500 | 301,439,563 | ||||||||||||
Other Financial Instruments(b): | ||||||||||||||||
Assets: |
| |||||||||||||||
Centrally Cleared Inflation (CPI) Swaps | — | 1,456,228 | — | 1,456,228 | ||||||||||||
Centrally Cleared Interest Rate Swaps | — | 1,898,655 | — | 1,898,655 | ||||||||||||
Interest Rate Swaps | — | 105,879 | — | 105,879 | ||||||||||||
Liabilities: |
| |||||||||||||||
Centrally Cleared Credit Default Swaps | — | (278,833 | ) | — | (278,833 | ) | ||||||||||
Centrally Cleared Inflation (CPI) Swaps | — | (112,524 | ) | — | (112,524 | ) | ||||||||||
Centrally Cleared Interest Rate Swaps | — | (6,127 | ) | — | (6,127 | ) | ||||||||||
Credit Default Swaps | — | (860,512 | ) | — | (860,512 | ) | ||||||||||
Interest Rate Swaps | — | (145,440 | ) | — | (145,440 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 9,563,238 | $ | 293,423,151 | $ | 510,500 | $ | 303,496,889 | ||||||||
|
|
|
|
|
|
|
|
(a) | The Fund may hold liabilities in which the fair value approximates the carrying amount for financial statement purposes. |
(b) | Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/(depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, options written and swaptions written which are valued at market value. |
A summary of the Fund’s transactions in AB mutual funds for the three months ended January 31, 2022 is as follows:
Fund | Market Value 10/31/2021 (000) | Purchases at Cost (000) | Sales Proceeds (000) | Market Value 01/31/2022 (000) | Dividend Income (000) | |||||||||||||||
Government Money Market Portfolio | $ | 0 | $ | 50,295 | $ | 39,132 | $ | 11,163 | $ | 0 | ** |
** | Amount less than $500. |
38