AB Emerging Markets Multi-Asset Portfolio
Portfolio of Investments
June 30, 2023 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS – 60.5% |
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Financials – 16.4% |
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Banks – 11.0% |
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Absa Group Ltd.(a) | 1,530 | $ | 13,656 | |||||
Agricultural Bank of China Ltd. - Class H | 4,889,000 | 1,925,430 | ||||||
Banco de Chile | 712,153 | 74,337 | ||||||
Banco del Bajio SA(b) | 3,200 | 9,775 | ||||||
Banco do Brasil SA | 78,000 | 804,729 | ||||||
Bancolombia SA | 8,410 | 62,494 | ||||||
Bancolombia SA (Preference Shares) | 11,608 | 77,882 | ||||||
Bank Mandiri Persero Tbk PT | 4,470,700 | 1,555,836 | ||||||
Bank of Baroda | 35,186 | 81,897 | ||||||
Bank of Jiangsu Co., Ltd. - Class A | 992,300 | 1,005,080 | ||||||
Canara Bank | 21,501 | 79,420 | ||||||
China CITIC Bank Corp., Ltd. - Class A | 76,700 | 63,151 | ||||||
China CITIC Bank Corp., Ltd. - Class H | 138,000 | 64,882 | ||||||
China Construction Bank Corp. - Class H(a) | 650,000 | 420,826 | ||||||
China Everbright Bank Co., Ltd. - Class H | 210,000 | 60,397 | ||||||
China Merchants Bank Co., Ltd. - Class H | 6,000 | 27,367 | ||||||
Commercial International Bank Egypt SAE | 22,977 | 38,108 | ||||||
Haci Omer Sabanci Holding AS | 40,954 | 72,473 | ||||||
Hana Financial Group, Inc. | 57,745 | 1,723,833 | ||||||
HDFC Bank Ltd. | 98,501 | 2,042,491 | ||||||
Huaxia Bank Co., Ltd. - Class A | 86,400 | 64,366 | ||||||
Industrial Bank Co., Ltd. - Class A | 161,560 | 348,569 | ||||||
Industrial Bank of Korea | 7,459 | 58,676 | ||||||
Itau Unibanco Holding SA (Preference Shares) | 27,300 | 162,037 | ||||||
KB Financial Group, Inc.(a) | 30,684 | 1,113,667 | ||||||
Komercni Banka AS | 580 | 17,684 | ||||||
Metropolitan Bank & Trust Co. | 452,560 | 457,862 | ||||||
Nedbank Group Ltd. | 6,717 | 81,576 | ||||||
NU Holdings Ltd./Cayman Islands - Class A(a) | 153,720 | 1,212,851 | ||||||
Sberbank of Russia PJSC(c) | 138,696 | 0 | ||||||
SinoPac Financial Holdings Co., Ltd. | 220 | 123 | ||||||
Standard Bank Group Ltd. | 9,563 | 90,289 | ||||||
State Bank of India | 21,470 | 150,243 | ||||||
Turkiye Is Bankasi AS - Class C | 141,098 | 75,996 | ||||||
Woori Financial Group, Inc. | 4,320 | 38,806 | ||||||
Yapi ve Kredi Bankasi AS | 167,147 | 83,517 | ||||||
|
| |||||||
14,160,326 | ||||||||
|
| |||||||
Capital Markets – 0.2% |
| |||||||
China Cinda Asset Management Co., Ltd. - Class H | 53,000 | 5,298 | ||||||
China Galaxy Securities Co., Ltd. - Class H | 129,000 | 69,052 | ||||||
China International Capital Corp., Ltd. - Class H(b) | 6,400 | 11,283 | ||||||
GF Securities Co., Ltd. - Class H | 6,600 | 9,125 | ||||||
Korea Investment Holdings Co., Ltd. | 1,840 | 72,569 | ||||||
NH Investment & Securities Co., Ltd. | 4,470 | 32,514 | ||||||
Samsung Securities Co., Ltd. | 2,916 | 80,035 | ||||||
|
| |||||||
279,876 | ||||||||
|
| |||||||
Consumer Finance – 0.1% |
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Muthoot Finance Ltd. | 1,311 | 19,866 | ||||||
SBI Cards & Payment Services Ltd. | 4,108 | 42,591 | ||||||
Shriram Finance Ltd. | 4,829 | 102,418 | ||||||
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| |||||||
164,875 | ||||||||
|
|
1
Company | Shares | U.S. $ Value | ||||||
Financial Services – 0.8% |
| |||||||
Chailease Holding Co., Ltd. | 10,000 | $ | 65,748 | |||||
Far East Horizon Ltd. | 85,000 | 67,426 | ||||||
Housing Development Finance Corp., Ltd. | 19,690 | 678,950 | ||||||
Meritz Financial Group, Inc. | 2,205 | 69,912 | ||||||
REC Ltd. | 49,003 | 98,653 | ||||||
Remgro Ltd.(a) | 3,794 | 29,642 | ||||||
|
| |||||||
1,010,331 | ||||||||
|
| |||||||
Insurance – 4.3% |
| |||||||
AIA Group Ltd. | 117,000 | 1,188,310 | ||||||
BB Seguridade Participacoes SA | 188,100 | 1,208,771 | ||||||
Bupa Arabia for Cooperative Insurance Co. | 1,558 | 77,096 | ||||||
China Pacific Insurance Group Co., Ltd. - Class A | 17,300 | 61,926 | ||||||
China Pacific Insurance Group Co., Ltd. - Class H | 24,200 | 62,827 | ||||||
China Taiping Insurance Holdings Co., Ltd. | 17,600 | 18,335 | ||||||
DB Insurance Co., Ltd. | 1,394 | 79,176 | ||||||
Hyundai Marine & Fire Insurance Co., Ltd. | 22,485 | 530,530 | ||||||
New China Life Insurance Co., Ltd. - Class H | 26,400 | 69,763 | ||||||
OUTsurance Group Ltd. | 3,469 | 6,265 | ||||||
People’s Insurance Co. Group of China Ltd. (The) - Class A | 82,000 | 65,945 | ||||||
PICC Property & Casualty Co., Ltd. - Class H | 882,000 | 982,070 | ||||||
Ping An Insurance Group Co. of China Ltd. - Class H | 82,500 | 526,921 | ||||||
Powszechny Zaklad Ubezpieczen SA(a) | 6,449 | 62,553 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 3,210 | 560,163 | ||||||
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5,500,651 | ||||||||
|
| |||||||
21,116,059 | ||||||||
|
| |||||||
Information Technology – 14.1% |
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Communications Equipment – 0.2% |
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Accton Technology Corp. | 13,000 | 146,227 | ||||||
ZTE Corp. - Class A | 16,600 | 104,136 | ||||||
ZTE Corp. - Class H | 18,600 | 74,755 | ||||||
|
| |||||||
325,118 | ||||||||
|
| |||||||
Electronic Equipment, Instruments & Components – 2.1% |
| |||||||
China Railway Signal & Communication Corp., Ltd. - Class A | 29,443 | 23,517 | ||||||
Foxconn Industrial Internet Co., Ltd. - Class A | 14,800 | 51,297 | ||||||
Hon Hai Precision Industry Co., Ltd. | 22,000 | 79,986 | ||||||
Samsung SDI Co., Ltd. | 1,544 | 788,419 | ||||||
Sinbon Electronics Co., Ltd. | 132,000 | 1,568,211 | ||||||
Synnex Technology International Corp. | 37,000 | 69,010 | ||||||
WPG Holdings Ltd.(a) | 48,000 | 84,455 | ||||||
|
| |||||||
2,664,895 | ||||||||
|
| |||||||
IT Services – 2.0% |
| |||||||
Arabian Internet & Communications Services Co. | 81 | 6,986 | ||||||
Elm Co. | 11,712 | 1,823,729 | ||||||
HCL Technologies Ltd. | 50,786 | 736,377 | ||||||
Tata Consultancy Services Ltd. | 1,984 | 79,992 | ||||||
|
| |||||||
2,647,084 | ||||||||
|
|
2
Company | Shares | U.S. $ Value | ||||||
Semiconductors & Semiconductor Equipment – 7.0% |
| |||||||
ASE Technology Holding Co., Ltd. | 21,000 | $ | 74,679 | |||||
Broadcom, Inc. | 1,000 | 867,430 | ||||||
King Yuan Electronics Co., Ltd. | 161,000 | 295,570 | ||||||
MediaTek, Inc. | 48,000 | 1,062,521 | ||||||
Novatek Microelectronics Corp. | 110,000 | 1,510,319 | ||||||
Realtek Semiconductor Corp. | 13,000 | 162,092 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 190,000 | 3,509,933 | ||||||
United Microelectronics Corp. | 954,000 | 1,498,937 | ||||||
|
| |||||||
8,981,481 | ||||||||
|
| |||||||
Software – 0.1% |
| |||||||
Glodon Co., Ltd. - Class A | 9,180 | 41,089 | ||||||
Tata Elxsi Ltd. | 539 | 49,995 | ||||||
|
| |||||||
91,084 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals – 2.7% |
| |||||||
Asia Vital Components Co., Ltd. | 2,000 | 17,438 | ||||||
Micro-Star International Co., Ltd.(a) | 7,000 | 39,803 | ||||||
Pegatron Corp. | 10,000 | 24,076 | ||||||
Quanta Computer, Inc. | 24,000 | 117,213 | ||||||
Samsung Electronics Co., Ltd. | 37,721 | 2,077,042 | ||||||
Wiwynn Corp. | 25,000 | 1,142,562 | ||||||
|
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3,418,134 | ||||||||
|
| |||||||
18,127,796 | ||||||||
|
| |||||||
Consumer Discretionary – 9.4% |
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Automobiles – 1.9% |
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Eicher Motors Ltd. | 1,774 | 77,560 | ||||||
Hyundai Motor Co. | 496 | 78,018 | ||||||
Kia Corp. | 31,414 | 2,116,080 | ||||||
Mahindra & Mahindra Ltd. | 5,099 | 90,745 | ||||||
TVS Motor Co., Ltd. | 5,116 | 82,905 | ||||||
Yadea Group Holdings Ltd.(b) | 8,000 | 18,249 | ||||||
|
| |||||||
2,463,557 | ||||||||
|
| |||||||
Broadline Retail – 2.9% |
| |||||||
Alibaba Group Holding Ltd.(a) | 141,900 | 1,477,155 | ||||||
Central Retail Corp. PCL | 15,900 | 17,490 | ||||||
JD.com, Inc. - Class A | 45,389 | 774,089 | ||||||
Lotte Shopping Co., Ltd. | 550 | 28,703 | ||||||
MercadoLibre, Inc.(a) | 1,074 | 1,272,261 | ||||||
momo.com, Inc. | 2,000 | 44,323 | ||||||
Naspers Ltd. - Class N | 443 | 80,033 | ||||||
Woolworths Holdings Ltd./South Africa | 16,275 | 61,697 | ||||||
|
| |||||||
3,755,751 | ||||||||
|
| |||||||
Diversified Consumer Services – 0.1% |
| |||||||
Fu Shou Yuan International Group Ltd. | 40,000 | 27,588 | ||||||
New Oriental Education & Technology Group, Inc.(a) | 12,000 | 47,301 | ||||||
|
| |||||||
74,889 | ||||||||
|
| |||||||
Hotels, Restaurants & Leisure – 2.9% |
| |||||||
Americana Restaurants International PLC | 603,395 | 690,307 |
3
Company | Shares | U.S. $ Value | ||||||
H World Group Ltd.(a) | 140,600 | $ | 544,877 | |||||
Haidilao International Holding Ltd.(b) | 32,000 | 70,765 | ||||||
Indian Hotels Co., Ltd. | 1,212 | 5,816 | ||||||
Jiumaojiu International Holdings Ltd.(b) | 25,000 | 41,113 | ||||||
Meituan - Class B(a) (b) | 2,690 | 42,182 | ||||||
OPAP SA | 75,966 | 1,324,718 | ||||||
Shanghai Jinjiang International Hotels Co., Ltd. - Class A | 104,789 | 611,317 | ||||||
Tongcheng Travel Holdings Ltd.(a) | 19,600 | 41,169 | ||||||
TravelSky Technology Ltd. - Class H | 14,000 | 23,850 | ||||||
Trip.com Group Ltd.(a) | 7,450 | 260,075 | ||||||
Trip.com Group Ltd. (ADR)(a) | 512 | 17,920 | ||||||
Yum China Holdings, Inc. | 655 | 37,007 | ||||||
|
| |||||||
3,711,116 | ||||||||
|
| |||||||
Household Durables – 0.0% |
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Haier Smart Home Co., Ltd. - Class H | 8,400 | 26,490 | ||||||
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Leisure Products – 0.1% |
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H World Group Ltd. (ADR)(a) | 1,850 | 71,743 | ||||||
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| |||||||
Specialty Retail – 0.6% |
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China Tourism Group Duty Free Corp., Ltd. - Class A | 19,100 | 291,293 | ||||||
Jarir Marketing Co. | 17,900 | 79,118 | ||||||
JUMBO SA | 2,824 | 77,655 | ||||||
Pop Mart International Group Ltd.(b) | 4,800 | 10,702 | ||||||
Topsports International Holdings Ltd.(b) | 340,000 | 295,808 | ||||||
|
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754,576 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods – 0.9% |
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ANTA Sports Products Ltd. | 63,400 | 651,494 | ||||||
Li Ning Co., Ltd. | 90,500 | 488,716 | ||||||
|
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1,140,210 | ||||||||
|
| |||||||
11,998,332 | ||||||||
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Communication Services – 5.6% |
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Diversified Telecommunication Services – 0.5% |
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Controladora AXTEL SAB DE CV(a) | 71,500 | 919 | ||||||
KT Corp. | 24,870 | 562,979 | ||||||
LG Uplus Corp. | 2,169 | 17,698 | ||||||
Ooredoo QPSC | 3,249 | 9,765 | ||||||
True Corp. PCL | 326,200 | 60,263 | ||||||
|
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651,624 | ||||||||
|
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Entertainment – 0.8% |
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37 Interactive Entertainment Network Technology Group Co., Ltd - Class A | 18,100 | 86,996 | ||||||
G-bits Network Technology Xiamen Co., Ltd. - Class A | 1,100 | 74,310 | ||||||
International Games System Co., Ltd. | 42,000 | 836,976 | ||||||
Kingsoft Corp., Ltd. | 7,200 | 28,459 | ||||||
Perfect World Co., Ltd./China - Class A | 28,684 | 66,739 | ||||||
|
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1,093,480 | ||||||||
|
|
4
Company | Shares | U.S. $ Value | ||||||
Interactive Media & Services – 3.0% |
| |||||||
Baidu, Inc. - Class A(a) | 4,800 | $ | 81,868 | |||||
JOYY, Inc. (ADR) | 303 | 9,305 | ||||||
Tencent Holdings Ltd. | 89,500 | 3,794,905 | ||||||
Yandex NV - Class A(a) (c) (d) | 11,500 | 0 | ||||||
|
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3,886,078 | ||||||||
|
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Media – 0.4% |
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Cheil Worldwide, Inc. | 5,581 | 77,050 | ||||||
Chinese Universe Publishing and Media Group Co., Ltd. - Class A | 205,200 | 375,975 | ||||||
|
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453,025 | ||||||||
|
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Wireless Telecommunication Services – 0.9% |
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Etihad Etisalat Co. | 86,930 | 1,115,164 | ||||||
Globe Telecom, Inc. | 493 | 15,498 | ||||||
SK Telecom Co., Ltd. | 560 | 19,816 | ||||||
|
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1,150,478 | ||||||||
|
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7,234,685 | ||||||||
|
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Materials – 3.9% |
| |||||||
Chemicals – 1.1% |
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Kumho Petrochemical Co., Ltd. | 90 | 9,101 | ||||||
National Industrialization Co.(a) | 2,515 | 10,067 | ||||||
PhosAgro PJSC (GDR)(a) (c) (d) (e) | 4,421 | 0 | ||||||
SABIC Agri-Nutrients Co. | 2,236 | 77,665 | ||||||
Sahara International Petrochemical Co. | 5,220 | 52,131 | ||||||
Sociedad Quimica y Minera de Chile SA (Sponsored ADR) | 16,192 | 1,175,863 | ||||||
|
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1,324,827 | ||||||||
|
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Metals & Mining – 2.8% |
| |||||||
Aluminum Corp. of China Ltd. - Class H | 1,262,000 | 546,227 | ||||||
Baoshan Iron & Steel Co., Ltd. - Class A | 568,000 | 439,450 | ||||||
China Hongqiao Group Ltd. | 71,395 | 58,315 | ||||||
Gerdau SA (Preference Shares) | 13,065 | 68,406 | ||||||
Henan Shenhuo Coal & Power Co., Ltd. - Class A | 38,300 | 68,601 | ||||||
Hindalco Industries Ltd. | 15,610 | 80,450 | ||||||
Hindustan Zinc Ltd. | 20,724 | 77,891 | ||||||
Jiangxi Copper Co., Ltd. - Class A | 28,200 | 73,920 | ||||||
Jiangxi Copper Co., Ltd. - Class H | 20,000 | 30,916 | ||||||
Kumba Iron Ore Ltd. | 3,199 | 75,217 | ||||||
MMC Norilsk Nickel PJSC (ADR)(a) (c) (d) | 3,568 | 0 | ||||||
Polyus PJSC (GDR)(a) (c) (d) (e) | 284 | 0 | ||||||
POSCO Holdings, Inc. | 3,120 | 923,370 | ||||||
South32 Ltd. | 153,190 | 385,671 | ||||||
Tongling Nonferrous Metals Group Co., Ltd. - Class A | 22,000 | 8,779 | ||||||
Vale SA | 4,800 | 64,378 | ||||||
Vedanta Ltd. | 23,476 | 79,959 | ||||||
Yunnan Aluminium Co., Ltd. - Class A | 15,900 | 27,972 |
5
Company | Shares | U.S. $ Value | ||||||
Zijin Mining Group Co., Ltd. - Class H | 418,000 | $ | 619,008 | |||||
|
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3,628,530 | ||||||||
|
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4,953,357 | ||||||||
|
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Industrials – 3.1% |
| |||||||
Aerospace & Defense – 0.1% |
| |||||||
Bharat Electronics Ltd. | 44,440 | 68,004 | ||||||
Hindustan Aeronautics Ltd.(b) | 2,052 | 94,775 | ||||||
|
| |||||||
162,779 | ||||||||
|
| |||||||
Air Freight & Logistics – 0.1% |
| |||||||
Hyundai Glovis Co., Ltd. | 567 | 85,365 | ||||||
|
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Construction & Engineering – 0.1% |
| |||||||
Sichuan Road and Bridge Group Co., Ltd. - Class A | 52,220 | 70,500 | ||||||
|
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Electrical Equipment – 0.1% |
| |||||||
CG Power & Industrial Solutions Ltd. | 5,769 | 26,600 | ||||||
TBEA Co., Ltd. - Class A | 22,900 | 70,360 | ||||||
Voltronic Power Technology Corp. | 1,000 | 63,242 | ||||||
|
| |||||||
160,202 | ||||||||
|
| |||||||
Industrial Conglomerates – 0.6% |
| |||||||
Alfa SAB de CV - Class A | 71,500 | 44,236 | ||||||
Bidvest Group Ltd. (The) | 27,905 | 387,901 | ||||||
CITIC Ltd. | 59,000 | 70,643 | ||||||
CJ Corp. | 733 | 38,035 | ||||||
GS Holdings Corp. | 2,463 | 68,650 | ||||||
Quinenco SA | 14,427 | 48,405 | ||||||
Siemens Ltd. | 1,656 | 76,295 | ||||||
Sime Darby Bhd | 16,500 | 7,253 | ||||||
|
| |||||||
741,418 | ||||||||
|
| |||||||
Machinery – 0.8% |
| |||||||
Doosan Bobcat, Inc.(a) | 1,949 | 87,120 | ||||||
Estun Automation Co., Ltd. - Class A | 183,700 | 709,877 | ||||||
XCMG Construction Machinery Co., Ltd. - Class A | 78,800 | 73,484 | ||||||
Yutong Bus Co., Ltd. - Class A | 95,700 | 194,166 | ||||||
|
| |||||||
1,064,647 | ||||||||
|
| |||||||
Marine Transportation – 0.1% |
| |||||||
COSCO SHIPPING Holdings Co., Ltd. - Class H | 64,600 | 58,396 | ||||||
Evergreen Marine Corp. Taiwan Ltd.(a) | 5,000 | 15,073 | ||||||
Orient Overseas International Ltd. | 4,000 | 53,731 | ||||||
|
| |||||||
127,200 | ||||||||
|
| |||||||
Passenger Airlines – 0.2% |
| |||||||
China Airlines Ltd.(a) | 21,000 | 17,733 | ||||||
Eva Airways Corp.(a) | 83,000 | 106,483 | ||||||
InterGlobe Aviation Ltd.(a) (b) | 2,803 | 90,060 | ||||||
Korean Air Lines Co., Ltd. | 4,595 | 85,243 | ||||||
|
| |||||||
299,519 | ||||||||
|
|
6
Company | Shares | U.S. $ Value | ||||||
Professional Services – 0.0% |
| |||||||
HeadHunter Group PLC (ADR)(a) (c) (d) | 18,930 | $ | 0 | |||||
|
| |||||||
Trading Companies & Distributors – 0.1% |
| |||||||
Barloworld Ltd. | 25,240 | 114,645 | ||||||
|
| |||||||
Transportation Infrastructure – 0.9% |
| |||||||
Grupo Aeroportuario del Centro Norte SAB de CV | 93,340 | 992,456 | ||||||
Malaysia Airports Holdings Bhd(a) | 34,800 | 51,340 | ||||||
Promotora y Operadora de Infraestructura SAB de CV | 1,260 | 12,645 | ||||||
Salik Co. PJSC | 54,947 | 47,278 | ||||||
TangShan Port Group Co., Ltd. - Class A | 133,700 | 64,965 | ||||||
|
| |||||||
1,168,684 | ||||||||
|
| |||||||
3,994,959 | ||||||||
|
| |||||||
Energy – 2.4% |
| |||||||
Oil, Gas & Consumable Fuels – 2.4% |
| |||||||
Adaro Energy Indonesia Tbk PT | 449,700 | 66,928 | ||||||
China Petroleum & Chemical Corp. - Class A | 22,100 | 19,351 | ||||||
China Petroleum & Chemical Corp. - Class H | 768,000 | 451,538 | ||||||
Coal India Ltd. | 26,485 | 74,619 | ||||||
Gazprom PJSC(c) (d) | 153,780 | 0 | ||||||
LUKOIL PJSC(c) (d) | 18,789 | 0 | ||||||
Oil & Natural Gas Corp., Ltd. | 38,147 | 74,691 | ||||||
PetroChina Co., Ltd. - Class H | 2,730,000 | 1,895,597 | ||||||
Petroleo Brasileiro SA | 13,300 | 91,941 | ||||||
Petroleo Brasileiro SA (Preference Shares) | 15,000 | 92,509 | ||||||
PTT Exploration & Production PCL | 5,800 | 24,542 | ||||||
PTT PCL | 39,700 | 37,638 | ||||||
Reliance Industries Ltd. | 2,053 | 64,063 | ||||||
Saudi Arabian Oil Co.(b) | 8,893 | 77,032 | ||||||
Shanxi Lu’an Environmental Energy Development Co., Ltd. - Class A | 23,700 | 53,266 | ||||||
Tupras Turkiye Petrol Rafinerileri AS | 2,803 | 8,619 | ||||||
Yankuang Energy Group Co., Ltd. - Class H | 24,000 | 68,907 | ||||||
|
| |||||||
3,101,241 | ||||||||
|
| |||||||
Health Care – 1.9% |
| |||||||
Health Care Providers & Services – 0.8% |
| |||||||
Bangkok Dusit Medical Services PCL - Class F | 5,600 | 4,352 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 72 | 5,509 | ||||||
Hygeia Healthcare Holdings Co., Ltd.(b) | 2,800 | 15,209 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. - Class H | 482,400 | 957,617 | ||||||
Sinopharm Group Co., Ltd. - Class H | 22,400 | 70,123 | ||||||
|
| |||||||
1,052,810 | ||||||||
|
| |||||||
Pharmaceuticals – 1.1% |
| |||||||
China Medical System Holdings Ltd. | 38,000 | 62,003 | ||||||
Dr Reddy’s Laboratories Ltd. | 1,434 | 90,215 | ||||||
Hubei Jumpcan Pharmaceutical Co., Ltd. - Class A | 1,600 | 6,401 | ||||||
Kalbe Farma Tbk PT | 394,700 | 54,015 |
7
Company | Shares | U.S. $ Value | ||||||
Sichuan Kelun Pharmaceutical Co., Ltd. - Class A | 275,900 | $ | 1,127,758 | |||||
|
| |||||||
1,340,392 | ||||||||
|
| |||||||
2,393,202 | ||||||||
|
| |||||||
Utilities – 1.8% |
| |||||||
Electric Utilities – 0.1% |
| |||||||
CEZ AS | 1,571 | 64,900 | ||||||
Enel Chile SA | 439,901 | 28,586 | ||||||
Manila Electric Co. | 10,270 | 62,397 | ||||||
|
| |||||||
155,883 | ||||||||
|
| |||||||
Gas Utilities – 1.3% |
| |||||||
GAIL India Ltd. | 1,314,485 | 1,685,226 | ||||||
|
| |||||||
Independent Power and Renewable Electricity Producers – 0.4% |
| |||||||
ACWA Power Co. | 647 | 28,921 | ||||||
Auren Energia SA | 133,900 | 400,733 | ||||||
NTPC Ltd. | 35,784 | 82,581 | ||||||
|
| |||||||
512,235 | ||||||||
|
| |||||||
2,353,344 | ||||||||
|
| |||||||
Consumer Staples – 1.8% |
| |||||||
Beverages – 0.1% |
| |||||||
Coca-Cola Femsa SAB de CV | 8,200 | 68,476 | ||||||
|
| |||||||
Consumer Staples Distribution & Retail – 0.1% |
| |||||||
CP ALL PCL | 7,700 | 13,601 | ||||||
Magnit PJSC(a) (c) (d) | 1,178 | 0 | ||||||
Magnit PJSC (Sponsored GDR)(a) (b) (c) (d) | 3 | 0 | ||||||
Nahdi Medical Co. | 1,613 | 73,436 | ||||||
President Chain Store Corp.(a) | 4,000 | 36,324 | ||||||
Sumber Alfaria Trijaya Tbk PT | 280,700 | 48,368 | ||||||
|
| |||||||
171,729 | ||||||||
|
| |||||||
Food Products – 0.3% |
| |||||||
AVI Ltd. | 1,856 | 6,702 | ||||||
Britannia Industries Ltd. | 605 | 37,100 | ||||||
China Feihe Ltd.(b) | 87,384 | 48,775 | ||||||
Grupo Bimbo SAB de CV Series A | 14,600 | 78,421 | ||||||
Minerva SA/Brazil | 26,000 | 57,721 | ||||||
Nestle India Ltd. | 262 | 73,302 | ||||||
Orion Corp./Republic of Korea | 389 | 35,477 | ||||||
|
| |||||||
337,498 | ||||||||
|
| |||||||
Household Products – 0.1% |
| |||||||
Colgate-Palmolive Co. | 877 | 67,564 | ||||||
Kimberly-Clark de Mexico SAB de CV - Class A | 35,100 | 78,312 | ||||||
Unilever Indonesia Tbk PT | 185,500 | 52,812 | ||||||
|
| |||||||
198,688 | ||||||||
|
| |||||||
Personal Care Products – 0.0% |
| |||||||
Colgate-Palmolive India Ltd. | 1,890 | 39,006 | ||||||
|
| |||||||
Tobacco – 1.2% |
| |||||||
Eastern Co. SAE | 49,334 | 34,071 | ||||||
Hanjaya Mandala Sampoerna Tbk PT | 444,400 | 28,011 |
8
Company | Shares | U.S. $ Value | ||||||||||
ITC Ltd. | 253,658 | $ | 1,398,676 | |||||||||
KT&G Corp. | 668 | 41,961 | ||||||||||
|
| |||||||||||
1,502,719 | ||||||||||||
|
| |||||||||||
2,318,116 | ||||||||||||
|
| |||||||||||
Real Estate – 0.1% |
| |||||||||||
Diversified REITs – 0.1% |
| |||||||||||
Fibra Uno Administracion SA de CV | 53,200 | 77,670 | ||||||||||
|
| |||||||||||
Real Estate Management & Development – 0.0% |
| |||||||||||
China Aoyuan Group Ltd.(a) (c) (d) | 411,000 | 26,612 | ||||||||||
Hopson Development Holdings Ltd.(a) | 1,034 | 737 | ||||||||||
|
| |||||||||||
27,349 | ||||||||||||
|
| |||||||||||
105,019 | ||||||||||||
|
| |||||||||||
Total Common Stocks |
| 77,696,110 | ||||||||||
|
| |||||||||||
Principal Amount (000) | ||||||||||||
FIXED INCOME – 34.1% |
| |||||||||||
Sovereign Bonds – 21.1% |
| |||||||||||
Abu Dhabi Government International Bond | U.S.$ | 390 | 284,661 | |||||||||
Angolan Government International Bond |
| 385 | 325,710 | |||||||||
8.25%, 05/09/2028(b) | 207 | 183,375 | ||||||||||
9.125%, 11/26/2049(b) | 320 | 246,246 | ||||||||||
Argentine Republic Government International Bond |
| 272 | 90,189 | |||||||||
1.00%, 07/09/2029 | 236 | 76,635 | ||||||||||
1.50%, 07/09/2035(f) | 532 | 159,381 | ||||||||||
3.50%, 07/09/2041(f) | 210 | 67,148 | ||||||||||
3.875%, 01/09/2038(f) | 1,019 | 357,615 | ||||||||||
Bahrain Government International Bond | 210 | 166,669 | ||||||||||
Chile Government International Bond |
| 585 | 542,400 | |||||||||
5.33%, 01/05/2054 | 255 | 252,697 | ||||||||||
Colombia Government International Bond |
| 282 | 212,986 | |||||||||
3.875%, 02/15/2061 | 200 | 111,774 | ||||||||||
4.125%, 02/22/2042 | 403 | 255,321 | ||||||||||
5.00%, 06/15/2045 | 502 | 348,162 | ||||||||||
7.50%, 02/02/2034 | 350 | 342,163 | ||||||||||
8.00%, 04/20/2033 | 320 | 325,360 | ||||||||||
Costa Rica Government International Bond | 361 | 361,686 | ||||||||||
Dominican Republic International Bond | 475 | 404,230 |
9
Principal Amount (000) | U.S. $ Value | |||||||||||
5.875%, 01/30/2060(b) | U.S.$ | 346 | $ | 266,849 | ||||||||
6.40%, 06/05/2049(b) | 449 | 381,282 | ||||||||||
8.625%, 04/20/2027(b) | 243 | 252,693 | ||||||||||
Ecuador Government International Bond | 898 | 310,000 | ||||||||||
5.50%, 07/31/2030(b) (f) | 349 | 167,970 | ||||||||||
Egypt Government International Bond | 302 | 194,579 | ||||||||||
7.903%, 02/21/2048(b) | 300 | 153,579 | ||||||||||
8.15%, 11/20/2059(b) | 305 | 157,709 | ||||||||||
8.50%, 01/31/2047(b) | 305 | 161,534 | ||||||||||
El Salvador Government International Bond | 122 | 84,017 | ||||||||||
8.625%, 02/28/2029(b) | 219 | 144,540 | ||||||||||
Gabon Government International Bond | 400 | 316,648 | ||||||||||
Ghana Government International Bond | 200 | 86,146 | ||||||||||
8.627%, 06/16/2049(a) (e) (g) | 279 | 113,157 | ||||||||||
8.95%, 03/26/2051(a) (b) (g) | 656 | 270,069 | ||||||||||
Guatemala Government Bond | 401 | 378,339 | ||||||||||
4.90%, 06/01/2030(b) | 235 | 218,766 | ||||||||||
6.125%, 06/01/2050(b) | 200 | 183,778 | ||||||||||
Hungary Government International Bond | 677 | 523,605 | ||||||||||
5.25%, 06/16/2029(b) | 295 | 286,551 | ||||||||||
5.50%, 06/16/2034(b) | 223 | 216,058 | ||||||||||
6.75%, 09/25/2052(b) | 200 | 206,170 | ||||||||||
Indonesia Government International Bond | 315 | 295,139 | ||||||||||
Ivory Coast Government International Bond | EUR | 100 | 77,097 | |||||||||
Jamaica Government International Bond | U.S.$ | 208 | 247,528 | |||||||||
Jordan Government International Bond | 249 | 248,340 | ||||||||||
Kazakhstan Government International Bond | 330 | 346,249 | ||||||||||
Lebanon Government International Bond | 36 | 2,340 | ||||||||||
6.65%, 04/22/2024(a) (b) (g) | 57 | 3,705 | ||||||||||
6.85%, 03/23/2027(a) (b) (g) | 481 | 30,741 | ||||||||||
Series E | ||||||||||||
6.10%, 10/04/2022(a) (b) (h) | 216 | 14,040 | ||||||||||
Series G | ||||||||||||
1.10%, 11/27/2026(a) (b) (g) | 170 | 10,860 | ||||||||||
6.20%, 02/26/2025(a) (b) (g) | 206 | 13,017 |
10
Principal Amount (000) | U.S. $ Value | |||||||||||
Mexico Government International Bond | U.S.$ | 840 | $ | 572,544 | ||||||||
Morocco Government International Bond | 251 | 218,897 | ||||||||||
6.50%, 09/08/2033(b) | 258 | 265,260 | ||||||||||
Nigeria Government International Bond | 716 | 595,204 | ||||||||||
6.50%, 11/28/2027(b) | 222 | 192,712 | ||||||||||
7.143%, 02/23/2030(b) | 200 | 167,296 | ||||||||||
7.375%, 09/28/2033(b) | 363 | 285,572 | ||||||||||
8.375%, 03/24/2029(b) | 207 | 185,903 | ||||||||||
Oman Government International Bond | 275 | 278,421 | ||||||||||
Panama Bonos del Tesoro | 144 | 121,960 | ||||||||||
Panama Government International Bond | 570 | 375,476 | ||||||||||
6.40%, 02/14/2035 | 428 | 445,159 | ||||||||||
6.853%, 03/28/2054 | 200 | 207,680 | ||||||||||
Panama Notas del Tesoro | 68 | 64,580 | ||||||||||
Paraguay Government International Bond | 223 | 193,673 | ||||||||||
4.95%, 04/28/2031(b) | 255 | 244,522 | ||||||||||
5.00%, 04/15/2026(b) | 256 | 253,809 | ||||||||||
Perusahaan Penerbit SBSN Indonesia III | 200 | 195,698 | ||||||||||
Peruvian Government International Bond | 493 | 299,335 | ||||||||||
3.23%, 07/28/2121 | 210 | 126,010 | ||||||||||
5.625%, 11/18/2050 | 305 | 312,625 | ||||||||||
Philippine Government International Bond | 296 | 218,217 | ||||||||||
3.229%, 03/29/2027 | 225 | 212,380 | ||||||||||
4.20%, 03/29/2047 | 858 | 737,056 | ||||||||||
Qatar Government International Bond | 864 | 784,296 | ||||||||||
5.103%, 04/23/2048(b) | 239 | 237,712 | ||||||||||
Republic of Azerbaijan International Bond | 315 | 269,045 | ||||||||||
Republic of Kenya Government International Bond | 252 | 189,723 | ||||||||||
7.00%, 05/22/2027(b) | 410 | 368,143 | ||||||||||
7.25%, 02/28/2028(b) | 200 | 172,900 | ||||||||||
Republic of Poland Government International Bond | 238 | 233,092 | ||||||||||
5.50%, 04/04/2053 | 88 | 88,341 | ||||||||||
Republic of South Africa Government International Bond | 504 | 442,683 | ||||||||||
5.75%, 09/30/2049 | 365 | 257,986 | ||||||||||
5.875%, 04/20/2032 | 370 | 327,694 |
11
Principal Amount (000) | U.S. $ Value | |||||||||||
Romanian Government International Bond | U.S.$ | 174 | $ | 143,995 | ||||||||
3.625%, 03/27/2032(b) | 410 | 348,266 | ||||||||||
4.00%, 02/14/2051(b) | 210 | 149,453 | ||||||||||
5.25%, 11/25/2027(b) | 552 | 538,216 | ||||||||||
Saudi Government International Bond | 337 | 236,480 | ||||||||||
5.00%, 01/18/2053(b) | 313 | 289,541 | ||||||||||
5.25%, 01/16/2050(b) | 401 | 387,863 | ||||||||||
Senegal Government International Bond | EUR | 330 | 309,809 | |||||||||
6.25%, 05/23/2033(b) | U.S.$ | 200 | 166,820 | |||||||||
6.75%, 03/13/2048(b) | 205 | 146,384 | ||||||||||
Serbia International Bond | 201 | 196,550 | ||||||||||
Sri Lanka Government International Bond | 215 | 99,407 | ||||||||||
7.85%, 03/14/2029(a) (b) (g) | 578 | 253,019 | ||||||||||
Turkey Government International Bond | 210 | 187,116 | ||||||||||
4.875%, 04/16/2043 | 349 | 223,346 | ||||||||||
5.25%, 03/13/2030 | 200 | 163,854 | ||||||||||
5.875%, 06/26/2031 | 330 | 274,164 | ||||||||||
6.125%, 10/24/2028 | 270 | 240,648 | ||||||||||
Ukraine Government International Bond | EUR | 173 | 39,341 | |||||||||
6.876%, 05/21/2031(b) (f) | U.S.$ | 484 | 109,287 | |||||||||
7.375%, 09/25/2034(b) (f) | 281 | 64,911 | ||||||||||
7.75%, 09/01/2025(b) (f) | 343 | 86,059 | ||||||||||
7.75%, 09/01/2026(b) (f) | 371 | 88,339 | ||||||||||
7.75%, 09/01/2029(b) (f) | 295 | 70,051 | ||||||||||
Uruguay Government International Bond | 149 | 146,433 | ||||||||||
4.975%, 04/20/2055 | 62 | 60,774 | ||||||||||
5.10%, 06/18/2050 | 194 | 193,605 | ||||||||||
7.875%, 01/15/2033 | 95 | 116,874 | ||||||||||
Venezuela Government International Bond | 265 | 21,160 | ||||||||||
12.75%, 08/23/2022(a) (b) (h) | 564 | 35,820 | ||||||||||
Zambia Government International Bond | 287 | 164,655 | ||||||||||
|
| |||||||||||
27,171,347 | ||||||||||||
|
| |||||||||||
Quasi-Sovereign Bonds – 6.6% | ||||||||||||
Bank Gospodarstwa Krajowego | 200 | 198,000 | ||||||||||
CNAC HK Finbridge Co., Ltd. | 200 | 194,800 | ||||||||||
Comision Federal de Electricidad | 200 | 134,560 | ||||||||||
5.00%, 09/29/2036(b) | 224 | 184,008 |
12
Principal Amount (000) | U.S. $ Value | |||||||||||
Corp. Nacional del Cobre de Chile | U.S.$ | 540 | $ | 475,027 | ||||||||
5.125%, 02/02/2033(b) | 585 | 576,594 | ||||||||||
DP World Ltd./United Arab Emirates | 210 | 176,963 | ||||||||||
DP World Salaam | 313 | 309,519 | ||||||||||
Eskom Holdings SOC Ltd. | 363 | 360,615 | ||||||||||
Export-Import Bank of China (The) | 593 | 539,239 | ||||||||||
Gaci First Investment Co. | 200 | 191,089 | ||||||||||
5.00%, 10/13/2027(b) | 536 | 533,297 | ||||||||||
Lamar Funding Ltd. | 364 | 347,678 | ||||||||||
Magyar Export-Import Bank Zrt | 245 | 241,844 | ||||||||||
NAK Naftogaz Ukraine via Kondor Finance PLC | 200 | 113,000 | ||||||||||
7.625%, 11/08/2026(a) (e) (g) | 200 | 75,000 | ||||||||||
Oil and Gas Holding Co. BSCC (The) | 259 | 262,352 | ||||||||||
Pertamina Persero PT | 695 | 565,403 | ||||||||||
Petroleos de Venezuela SA | 226 | 7,900 | ||||||||||
6.00%, 11/15/2026(a) (b) (g) | 220 | 8,800 | ||||||||||
9.00%, 11/17/2021(a) (b) (h) | 128 | 4,496 | ||||||||||
Petroleos Mexicanos | 694 | 615,925 | ||||||||||
6.70%, 02/16/2032 | 741 | 562,382 | ||||||||||
6.75%, 09/21/2047 | 111 | 69,363 | ||||||||||
6.95%, 01/28/2060 | 167 | 103,290 | ||||||||||
QatarEnergy | 706 | 516,220 | ||||||||||
Sinochem Offshore Capital Co., Ltd. | 200 | 159,606 | ||||||||||
Sinopec Group Overseas Development 2018 Ltd. | 347 | 311,349 | ||||||||||
State Agency of Roads of Ukraine | 360 | 74,891 | ||||||||||
State Oil Co. of the Azerbaijan Republic | 321 | 329,548 |
13
Principal Amount (000) | U.S. $ Value | |||||||||||
Transnet SOC Ltd. | U.S.$ | 204 | $ | 197,735 | ||||||||
|
| |||||||||||
8,440,493 | ||||||||||||
|
| |||||||||||
Corporate Bonds – 4.6% |
| |||||||||||
Adani Green Energy Ltd. | 200 | 185,034 | ||||||||||
Adani Ports & Special Economic Zone Ltd. | 200 | 149,500 | ||||||||||
Alfa Desarrollo SpA | 363 | 264,682 | ||||||||||
America Movil SAB de CV | MXN | 2,150 | 125,290 | |||||||||
Braskem Idesa SAPI | U.S.$ | 219 | 140,160 | |||||||||
Braskem Netherlands Finance BV | 200 | 170,990 | ||||||||||
BRF SA | 200 | 161,250 | ||||||||||
Cometa Energia SA de CV | 164 | 159,885 | ||||||||||
CSN Resources SA | 200 | 152,225 | ||||||||||
Ecopetrol SA |
| 234,117 | ||||||||||
8.875%, 01/13/2033 | 91 | 89,706 | ||||||||||
Empresas Publicas de Medellin ESP |
| 157,190 | ||||||||||
8.375%, 11/08/2027 | COP | 418,000 | 78,945 | |||||||||
Geopark Ltd. | U.S.$ | 200 | 163,734 | |||||||||
Gran Tierra Energy International Holdings Ltd. | 200 | 171,500 | ||||||||||
Greenko Dutch BV | 188 | 168,503 | ||||||||||
Huarong Finance II Co., Ltd. | 220 | 195,202 | ||||||||||
Hunt Oil Co. of Peru LLC Sucursal Del Peru | 166 | 159,744 | ||||||||||
India Clean Energy Holdings | 200 | 164,106 | ||||||||||
KazMunayGas National Co. JSC | 415 | 384,995 | ||||||||||
Lenovo Group Ltd. | 200 | 198,486 | ||||||||||
Leviathan Bond Ltd. | 87 | 81,146 | ||||||||||
Lima Metro Line 2 Finance Ltd. | 312 | 278,777 |
14
Principal Amount (000) | U.S. $ Value | |||||||||||
MARB BondCo PLC | U.S.$ | 200 | $ | 142,500 | ||||||||
Medco Oak Tree Pte Ltd. | 200 | 196,562 | ||||||||||
Melco Resorts Finance Ltd. | 200 | 174,875 | ||||||||||
Minejesa Capital BV | 215 | 168,579 | ||||||||||
Odebrecht Holdco Finance Ltd. | 132 | 529 | ||||||||||
OEC Finance Ltd. | 139 | 9,000 | ||||||||||
Saudi Arabian Oil Co. | 395 | 327,585 | ||||||||||
SierraCol Energy Andina LLC | 200 | 145,100 | ||||||||||
Standard Chartered PLC | 200 | 177,401 | ||||||||||
Studio City Finance Ltd. | 200 | 166,892 | ||||||||||
Tengizchevroil Finance Co. International Ltd. | 260 | 198,232 | ||||||||||
Tonon Luxembourg SA | 105 | 11 | ||||||||||
Vale Overseas Ltd. | 150 | 131,645 | ||||||||||
Virgolino de Oliveira Finance SA | 202 | 20 | ||||||||||
Volcan Cia Minera SAA | 107 | 78,657 | ||||||||||
|
| |||||||||||
5,952,755 | ||||||||||||
|
| |||||||||||
Treasury Bonds – 1.0% | ||||||||||||
Mexican Bonos | MXN | 7,091 | 376,004 | |||||||||
Peru Government Bond | PEN | 1,550 | 434,101 | |||||||||
Peruvian Government International Bond | 1,490 | 417,298 | ||||||||||
|
| |||||||||||
1,227,403 | ||||||||||||
|
| |||||||||||
Emerging Markets - Treasuries – 0.8% | ||||||||||||
Brazil Notas do Tesouro Nacional | BRL | 1,368 | 276,752 | |||||||||
Republic of South Africa Government Bond | ZAR | 4,729 | 221,952 | |||||||||
Series 2032 | 9,482 | 423,887 |
15
Principal Amount (000) | U.S. $ Value | |||||||||||
Series 2035 | ZAR | 3,886 | $ | 169,017 | ||||||||
|
| |||||||||||
1,091,608 | ||||||||||||
|
| |||||||||||
Total Fixed Income |
| 43,883,606 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
EQUITY LINKED NOTES – 0.5% | ||||||||||||
Information Technology – 0.5% | ||||||||||||
IT Services – 0.5% | ||||||||||||
FPT Corp., Macquarie Bank Ltd., expiring 07/15/2024(a) | 161,685 | 589,816 | ||||||||||
|
| |||||||||||
Notional Amount | ||||||||||||
OPTIONS PURCHASED - PUTS – 0.0% |
| |||||||||||
Swaptions – 0.0% |
| |||||||||||
OTC - 1 Year Interest Rate Swap | USD | 4,920,000 | 36,987 | |||||||||
|
| |||||||||||
Shares | ||||||||||||
SHORT-TERM INVESTMENTS – 1.9% |
| |||||||||||
Investment Companies – 1.3% |
| |||||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.02%(k) (l) (m) | 1,642,209 | 1,642,209 | ||||||||||
|
| |||||||||||
Principal Amount (000) | ||||||||||||
Time Deposits – 0.4% |
| |||||||||||
ANZ Bank, Hong Kong | AUD | 9 | 5,994 | |||||||||
BBH, Grand Cayman | SEK | 9 | 866 | |||||||||
2.60%, 07/03/2023 | NOK | 2 | 163 | |||||||||
6.17%, 07/03/2023 | ZAR | 166 | 8,840 | |||||||||
Hong Kong & Shanghai Bank, Hong Kong | HKD | 311 | 39,636 | |||||||||
Hong Kong & Shanghai Bank, Singapore | SGD | 1 | 679 | |||||||||
JPMorgan Chase, New York | U.S.$ | 389 | 388,750 | |||||||||
Royal Bank of Canada, Toronto | CAD | 4 | 3,098 | |||||||||
SEB, Stockholm | ||||||||||||
0.65%, 07/03/2023 | CHF | 1 | 1,391 | |||||||||
2.37%, 07/03/2023 | EUR | 6 | 6,139 | |||||||||
3.92%, 07/03/2023 | GBP | 5 | 6,569 |
16
Principal Amount (000) | U.S. $ Value | |||||||||||
Sumitomo, Tokyo | JPY | 4,746 | $ | 32,892 | ||||||||
|
| |||||||||||
Total Time Deposits | 495,017 | |||||||||||
|
| |||||||||||
U.S. Treasury Bills – 0.2% | ||||||||||||
U.S. Treasury Bill | ||||||||||||
Zero Coupon, 07/13/2023 | U.S.$ | 298 | 297,182 | |||||||||
Zero Coupon, 08/15/2023 | 1 | 1,093 | ||||||||||
|
| |||||||||||
Total U.S. Treasury Bills | 298,275 | |||||||||||
|
| |||||||||||
Total Short-Term Investments | 2,435,501 | |||||||||||
|
| |||||||||||
Total Investments – 97.0% | 124,642,020 | |||||||||||
Other assets less liabilities – 3.0% | 3,818,504 | |||||||||||
|
| |||||||||||
Net Assets – 100.0% | $ | 128,460,524 | ||||||||||
|
|
FUTURES
Description | Number of Contracts | Expiration Month | Current Notional | Value and Unrealized Appreciation (Depreciation) | ||||||||||||||||
Purchased Contracts | ||||||||||||||||||||
MSCI Emerging Markets Index Futures | 248 | September 2023 | $ | 12,373,960 | $ | (198,885 | ) | |||||||||||||
U.S. 10 Yr Ultra Futures | 3 | September 2023 | 355,313 | (1,407 | ) | |||||||||||||||
U.S. T-Note 5 Yr (CBT) Futures | 7 | September 2023 | 749,656 | (14,000 | ) | |||||||||||||||
U.S. T-Note 10 Yr (CBT) Futures | 13 | September 2023 | 1,459,453 | (16,492 | ) | |||||||||||||||
|
| |||||||||||||||||||
$ | (230,784 | ) | ||||||||||||||||||
|
|
FORWARD CURRENCY EXCHANGE CONTRACTS
Counterparty | Contracts to Deliver (000) | In Exchange For (000) | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
Bank of America, NA | BRL | 18,835 | USD | 3,693 | 07/05/2023 | $ (241,010 | ) | |||||||||||||||||||||||
Bank of America, NA | USD | 3,908 | BRL | 18,835 | 07/05/2023 | 25,303 | ||||||||||||||||||||||||
Bank of America, NA | CNH | 28,788 | USD | 4,168 | 07/07/2023 | 206,990 | ||||||||||||||||||||||||
Bank of America, NA | IDR | 33,433,401 | USD | 2,236 | 07/12/2023 | 13,580 | ||||||||||||||||||||||||
Bank of America, NA | CLP | 164,008 | USD | 203 | 07/13/2023 | (1,633 | ) | |||||||||||||||||||||||
Bank of America, NA | PEN | 2,979 | USD | 808 | 07/13/2023 | (12,351 | ) | |||||||||||||||||||||||
Bank of America, NA | CZK | 22,680 | USD | 1,063 | 07/20/2023 | 22,893 | ||||||||||||||||||||||||
Bank of America, NA | USD | 2,246 | HUF | 782,250 | 07/20/2023 | 34,910 | ||||||||||||||||||||||||
Bank of America, NA | KRW | 3,987,446 | USD | 3,014 | 07/27/2023 | (15,690 | ) | |||||||||||||||||||||||
Barclays Bank PLC | USD | 408 | IDR | 6,145,587 | 07/12/2023 | 498 | ||||||||||||||||||||||||
Barclays Bank PLC | PLN | 5,353 | USD | 1,281 | 07/20/2023 | (34,076 | ) | |||||||||||||||||||||||
Barclays Bank PLC | MYR | 4,301 | USD | 939 | 09/21/2023 | 9,251 | ||||||||||||||||||||||||
Barclays Bank PLC | IDR | 6,145,587 | USD | 407 | 10/12/2023 | (460 | ) | |||||||||||||||||||||||
BNP Paribas SA | TWD | 52,650 | USD | 1,710 | 09/14/2023 | 15,887 | ||||||||||||||||||||||||
BNP Paribas SA | INR | 35,954 | USD | 437 | 09/25/2023 | 366 |
17
Counterparty | Contracts to Deliver (000) | In Exchange For (000) | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||
Brown Brothers Harriman & Co. | TRY | 3,194 | USD | 135 | 07/12/2023 | $ | 12,119 | |||||||||||||||||
Brown Brothers Harriman & Co. | MXN | 3,352 | USD | 195 | 07/13/2023 | (615 | ) | |||||||||||||||||
Brown Brothers Harriman & Co. | THB | 12,628 | USD | 365 | 07/13/2023 | 8,403 | ||||||||||||||||||
Brown Brothers Harriman & Co. | USD | 1,452 | THB | 49,268 | 07/13/2023 | (61,239 | ) | |||||||||||||||||
Brown Brothers Harriman & Co. | USD | 334 | PLN | 1,417 | 07/20/2023 | 14,821 | ||||||||||||||||||
Brown Brothers Harriman & Co. | USD | 390 | ZAR | 7,201 | 08/23/2023 | (9,008 | ) | |||||||||||||||||
Brown Brothers Harriman & Co. | ZAR | 15,888 | USD | 860 | 08/23/2023 | 20,197 | ||||||||||||||||||
Brown Brothers Harriman & Co. | TRY | 5,017 | USD | 195 | 09/14/2023 | 8,315 | ||||||||||||||||||
Citibank, NA | USD | 1,091 | COP | 5,036,249 | 07/13/2023 | 113,338 | ||||||||||||||||||
Citibank, NA | HUF | 463,351 | USD | 1,310 | 07/20/2023 | (41,164 | ) | |||||||||||||||||
Deutsche Bank AG | CNH | 1,271 | USD | 185 | 07/07/2023 | 9,829 | ||||||||||||||||||
Deutsche Bank AG | USD | 1,886 | MXN | 33,627 | 07/13/2023 | 75,595 | ||||||||||||||||||
Deutsche Bank AG | USD | 1,899 | PLN | 7,678 | 07/20/2023 | (12,693 | ) | |||||||||||||||||
Deutsche Bank AG | PHP | 800 | USD | 14 | 07/27/2023 | 24 | ||||||||||||||||||
Deutsche Bank AG | USD | 2,201 | PHP | 124,215 | 07/27/2023 | 44,912 | ||||||||||||||||||
Goldman Sachs Capital Markets | BRL | 2,043 | USD | 424 | 07/05/2023 | (2,745 | ) | |||||||||||||||||
Goldman Sachs Capital Markets | USD | 428 | BRL | 2,043 | 07/05/2023 | (1,426 | ) | |||||||||||||||||
Goldman Sachs Capital Markets | PEN | 4,424 | USD | 1,205 | 07/13/2023 | (13,361 | ) | |||||||||||||||||
HSBC Bank USA | KRW | 2,906,013 | USD | 2,184 | 07/27/2023 | (23,880 | ) | |||||||||||||||||
HSBC Bank USA | USD | 5,069 | INR | 418,319 | 09/25/2023 | 14,104 | ||||||||||||||||||
JPMorgan Chase Bank, NA | CNH | 18,986 | USD | 2,663 | 07/07/2023 | 50,530 | ||||||||||||||||||
JPMorgan Chase Bank, NA | IDR | 9,397,732 | USD | 627 | 07/12/2023 | 1,806 | ||||||||||||||||||
JPMorgan Chase Bank, NA | HUF | 179,534 | USD | 510 | 07/20/2023 | (13,158 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | USD | 677 | HUF | 234,637 | 07/20/2023 | 7,497 | ||||||||||||||||||
JPMorgan Chase Bank, NA | USD | 532 | HUF | 180,430 | 07/20/2023 | (5,313 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | USD | 1,259 | PLN | 5,353 | 07/20/2023 | 55,971 | ||||||||||||||||||
JPMorgan Chase Bank, NA | PHP | 40,369 | USD | 726 | 07/27/2023 | (4,273 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | USD | 851 | KRW | 1,097,155 | 07/27/2023 | (17,948 | ) | |||||||||||||||||
Morgan Stanley Capital Services LLC | BRL | 16,792 | USD | 3,484 | 07/05/2023 | (22,558 | ) | |||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 3,505 | BRL | 16,792 | 07/05/2023 | 2,050 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | CNH | 36,831 | USD | 5,385 | 07/07/2023 | 318,127 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 1,673 | IDR | 25,202,621 | 07/12/2023 | 1,964 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 779 | IDR | 11,482,925 | 07/12/2023 | (15,246 | ) | |||||||||||||||||
Morgan Stanley Capital Services LLC | CLP | 1,682,628 | USD | 2,118 | 07/13/2023 | 21,074 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | COP | 2,801,895 | USD | 671 | 07/13/2023 | 1,192 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 1,188 | COP | 5,335,605 | 07/13/2023 | 87,872 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | USD | 788 | MXN | 14,314 | 07/13/2023 | 47,176 | ||||||||||||||||||
Morgan Stanley Capital Services LLC | KRW | 1,230,126 | USD | 933 | 07/27/2023 | (1,966 | ) | |||||||||||||||||
Morgan Stanley Capital Services LLC | BRL | 16,792 | USD | 3,487 | 08/02/2023 | (1,137 | ) | |||||||||||||||||
Morgan Stanley Capital Services LLC | TWD | 6,902 | USD | 227 | 09/14/2023 | 5,035 | ||||||||||||||||||
UBS AG | USD | 573 | KRW | 759,544 | 07/27/2023 | 3,790 | ||||||||||||||||||
|
| |||||||||||||||||||||||
$ | 702,469 | |||||||||||||||||||||||
|
|
18
INTEREST RATE WRITTEN SWAPTIONS
Description | Index | CounterParty | Strike Rate | Expiration Date | Notional Amount (000) | Premiums Received | Market Value | |||||||||||||||||||||
Put |
| |||||||||||||||||||||||||||
OTC - 1 Year Interest Rate Swap | 1 Day SOFR | Morgan Stanley Capital Services LLC | 3.92 | % | 08/15/2023 | USD | 4,920 | $ | 52,166 | $ (12,724 | ) |
CENTRALLY CLEARED CREDIT DEFAULT SWAPS
Description | Fixed Rate (Pay) Receive | Payment Frequency | Implied Credit Spread at June 30, 2023 | Notional Amount (000) | Market Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
Buy Contracts | ||||||||||||||||||||||||||||||||
CDX-EM Series 39, 5 Year Index, 06/20/2028* | (1.00 | )% | Quarterly | 2.13% | USD | 15,188 | $ | 720,540 | $ | 970,452 | $ | (249,912 | ) | |||||||||||||||||||
Sale Contracts | ||||||||||||||||||||||||||||||||
Brazilian Government International Bond, 4.250%, 01/07/2025, 06/20/2028* | 1.00 | Quarterly | 1.76 | USD | 160 | (5,232 | ) | (5,217 | ) | (15 | ) | |||||||||||||||||||||
Colombia Government International Bond, 10.375%, 01/28/2033, 06/20/2028* | 1.00 | Quarterly | 2.35 | USD | 180 | (10,328 | ) | (10,233 | ) | (95 | ) | |||||||||||||||||||||
Indonesia Government International Bond, 4.125%, 01/15/2025, 06/20/2028* | 1.00 | Quarterly | 0.87 | USD | 250 | 1,548 | 1,477 | 71 | ||||||||||||||||||||||||
People’s Republic of China, 7.500%, 10/28/2027, 06/20/2028* | 1.00 | Quarterly | 0.62 | USD | 210 | 3,653 | 3,763 | (110 | ) | |||||||||||||||||||||||
South Africa Government International Bond, 5.875%, 09/16/2025, 06/20/2028* | 1.00 | Quarterly | 2.66 | USD | 230 | (16,078 | ) | (16,646 | ) | 568 | ||||||||||||||||||||||
Turkey Government International Bond, 11.875%, 01/15/2030, 06/20/2028* | 1.00 | Quarterly | 4.83 | USD | 260 | (38,964 | ) | (41,634 | ) | 2,670 |
19
Description | Fixed Rate (Pay) Receive | Payment Frequency | Implied Credit Spread at June 30, 2023 | Notional Amount (000) | Market Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||||
United Mexican States, 4.150%, 03/28/2027, 06/20/2028* | 1.00 | % | Quarterly | 1.03 | % | USD | 150 | $ | (144 | ) | $ | (263 | ) | $ | 119 | |||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 654,995 | $ | 901,699 | $ | (246,704 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
* | Termination date |
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 | 8,820 | 06/06/2028 | 1 Day SOFR | 3.630% | Annual | $ (124,999 | ) | $ | — | $ (124,999 | ) |
TOTAL RETURN SWAPS
Counterparty & | Rate Paid/ Received | Payment Frequency | Current Notional (000) | Maturity Date | Unrealized Appreciation (Depreciation) | |||||||||||||||||||
Receive Total Return on Reference Obligation |
| |||||||||||||||||||||||
Goldman Sachs International MSCI Emerging Markets Growth | | FedFundEffective plus 0.69 | % | Maturity | USD | 4,469 | 06/17/2024 | $ | (192,600) |
(a) | Non-income producing security. |
(b) | 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 June 30, 2023, the aggregate market value of these securities amounted to $30,086,749 or 23.4% of net assets. |
(c) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(d) | Fair valued by the Adviser. |
(e) | Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.30% of net assets as of June 30, 2023, are considered illiquid and restricted. Additional information regarding such securities follows: |
144A/Restricted & Illiquid Securities | Acquisition Date | Cost | Market Value | Percentage of Net Assets | ||||||||||||||
Ghana Government International Bond | 08/31/2022 | $ | 100,635 | $ | 113,157 | 0.09 | % | |||||||||||
NAK Naftogaz Ukraine via Kondor Finance PLC | 12/08/2021 | 200,000 | 113,000 | 0.09 | % | |||||||||||||
NAK Naftogaz Ukraine via Kondor Finance PLC | 11/04/2019 | 200,000 | 75,000 | 0.06 | % | |||||||||||||
PhosAgro PJSC (GDR) | 06/03/2021 | 89,757 | 0 | 0.00 | % | |||||||||||||
Polyus PJSC (GDR) | 09/06/2019 – 04/27/2022 | 4,388 | 0 | 0.00 | % |
20
144A/Restricted & Illiquid Securities | Acquisition Date | Cost | Market Value | Percentage of Net Assets | ||||||||
State Agency of Roads of Ukraine | 06/17/2021 | $ | 360,000 | $ | 74,891 | 0.06% | ||||||
Tonon Luxembourg SA | 05/03/2019 | 199,358 | 11 | 0.00% | ||||||||
Virgolino de Oliveira Finance SA | 07/12/2013 | 172,628 | 20 | 0.00% |
(f) | Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at June 30, 2023. |
(g) | Defaulted. |
(h) | Defaulted matured security. |
(i) | Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date. |
(j) | Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at June 30, 2023. |
(k) | 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. |
(l) | Affiliated investments. |
(m) | The rate shown represents the 7-day yield as of period end. |
(n) | As of June 30, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $16,246,804 and gross unrealized depreciation of investments was $(15,456,205), resulting in net unrealized appreciation of $790,599. |
Currency Abbreviations:
AUD – Australian Dollar
BRL – Brazilian Real
CAD – Canadian Dollar
CHF – Swiss Franc
CLP – Chilean Peso
CNH – Chinese Yuan Renminbi (Offshore)
COP – Colombian Peso
CZK – Czech Koruna
EUR – Euro
GBP – Great British Pound
HKD – Hong Kong Dollar
HUF – Hungarian Forint
IDR – Indonesian Rupiah
INR – Indian Rupee
JPY – Japanese Yen
KRW – South Korean Won
MXN – Mexican Peso
MYR – Malaysian Ringgit
NOK – Norwegian Krone
PEN – Peruvian Sol
PHP – Philippine Peso
PLN – Polish Zloty
SEK – Swedish Krona
SGD – Singapore Dollar
THB – Thailand Baht
TRY – Turkish Lira
TWD – New Taiwan Dollar
USD – United States Dollar
ZAR – South African Rand
Glossary:
ADR – American Depositary Receipt
CBT – Chicago Board of Trade
21
CDX-EM – Emerging Market Credit Default Swap Index
FedFundEffective – Federal Funds Effective Rate
GDR – Global Depositary Receipt
JSC – Joint Stock Company
MSCI – Morgan Stanley Capital International
OTC – Over-the-Counter
PJSC – Public Joint Stock Company
QPSC – Qualified Personal Service Corporation
SOFR – Secured Overnight Financing Rate
COUNTRY BREAKDOWN1
June 30, 2023 (unaudited)
21.0 | % | China | ||
10.1 | % | Taiwan | ||
9.2 | % | South Korea | ||
7.4 | % | India | ||
5.2 | % | Brazil | ||
4.3 | % | Saudi Arabia | ||
3.5 | % | Mexico | ||
2.8 | % | Chile | ||
2.7 | % | South Africa | ||
2.6 | % | Indonesia | ||
2.2 | % | Colombia | ||
1.7 | % | Peru | ||
1.4 | % | Philippines | ||
23.9 | % | Other | ||
2.0 | % | Short-Term Investments | ||
|
| |||
100.0 | % | Total Investments | ||
|
|
1 | The Fund’s country breakdown is expressed as a percentage of total investments and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 1.2% or less in the following: Angola, Argentina, Australia, Azerbaijan, Bahrain, Costa Rica, Czech Republic, Dominican Republic, Ecuador, Egypt, El Salvador, Gabon, Ghana, Greece, Guatemala, Hong Kong, Hungary, Israel, Ivory Coast, Jamaica, Jordan, Kazakhstan, Kenya, Lebanon, Macau, Malaysia, Morocco, Nigeria, Oman, Panama, Paraguay, Poland, Qatar, Romania, Russia, Senegal, Serbia, Sri Lanka, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Venezuela, Vietnam and Zambia.. |
22
AB Emerging Markets Multi-Asset Portfolio
June 30, 2023 (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 are 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.
Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.
Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively, the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on an exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments 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.
23
The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of June 30, 2023:
Investments in Securities | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: |
| |||||||||||||||
Common Stocks: | ||||||||||||||||
Financials | $ | 3,730,359 | $ | 17,385,700 | $ | 0 | # | $ | 21,116,059 | |||||||
Information Technology | 867,430 | 17,260,366 | -0- | 18,127,796 | ||||||||||||
Consumer Discretionary | 1,555,773 | 10,442,559 | -0- | 11,998,332 | ||||||||||||
Communication Services | 530,537 | 6,704,148 | 0 | # | 7,234,685 | |||||||||||
Materials | 1,383,864 | 3,569,493 | 0 | # | 4,953,357 | |||||||||||
Industrials | 1,600,288 | 2,394,671 | 0 | # | 3,994,959 | |||||||||||
Energy | 184,450 | 2,916,791 | 0 | # | 3,101,241 | |||||||||||
Health Care | -0- | 2,393,202 | -0- | 2,393,202 | ||||||||||||
Utilities | 494,219 | 1,859,125 | -0- | 2,353,344 | ||||||||||||
Consumer Staples | 412,576 | 1,905,540 | 0 | # | 2,318,116 | |||||||||||
Real Estate | 77,670 | 737 | 26,612 | 105,019 | ||||||||||||
Fixed Income Securities: | ||||||||||||||||
Sovereign Bonds | -0- | 27,171,347 | -0- | 27,171,347 | ||||||||||||
Quasi-Sovereign Bonds | -0- | 8,440,493 | -0- | 8,440,493 | ||||||||||||
Corporate Bonds | -0- | 5,952,735 | 20 | 5,952,755 | ||||||||||||
Treasury Bonds | -0- | 1,227,403 | -0- | 1,227,403 | ||||||||||||
Emerging Markets - Treasuries | -0- | 1,091,608 | -0- | 1,091,608 | ||||||||||||
Equity Linked Notes | -0- | 589,816 | -0- | 589,816 | ||||||||||||
Purchased Options – Puts | -0- | 36,987 | -0- | 36,987 | ||||||||||||
Short-Term Investments: | ||||||||||||||||
Investment Companies | 1,642,209 | -0- | -0- | 1,642,209 | ||||||||||||
Time Deposits | -0- | 495,017 | -0- | 495,017 | ||||||||||||
U.S. Treasury Bills | -0- | 298,275 | -0- | 298,275 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | 12,479,375 | 112,136,013 | + | 26,632 | 124,642,020 | |||||||||||
Other Financial Instruments*: | ||||||||||||||||
Assets | ||||||||||||||||
Forward Currency Exchange Contracts | -0- | 1,255,419 | -0- | 1,255,419 | ||||||||||||
Centrally Cleared Credit Default Swaps | -0- | 725,741 | -0- | 725,741 | ||||||||||||
Liabilities | ||||||||||||||||
Futures | (230,784 | ) | -0- | -0- | (230,784 | ) | ||||||||||
Forward Currency Exchange Contracts | -0- | (552,950 | ) | -0- | (552,950 | ) | ||||||||||
Interest Rate Written Swaptions | -0- | (12,724 | ) | -0- | (12,724 | ) | ||||||||||
Centrally Cleared Credit Default Swaps | -0- | (70,746 | ) | -0- | (70,746 | ) | ||||||||||
Centrally Cleared Interest Rate Swaps | -0- | (124,999 | ) | -0- | (124,999 | ) | ||||||||||
Total Return Swaps | -0- | (192,600 | ) | -0- | (192,600 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 12,248,591 | $ | 113,163,154 | $ | 26,632 | $ | 125,438,377 | ||||||||
|
|
|
|
|
|
|
|
# | The Fund held securities with zero market value at period end. |
* | 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, written options and written swaptions which are valued at market value. |
+ | A significant portion of the Fund’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available. |
A summary of the Fund’s transactions in AB mutual funds for the three months ended June 30, 2023 is as follows:
Market Value | Purchases | Sales | Market Value | Dividend | ||||||||||||||||
3/31/23 | at Cost | Proceeds | 6/30/23 | Income | ||||||||||||||||
Fund | (000) | (000) | (000) | (000) | (000) | |||||||||||||||
Government Money Market Portfolio | $ | 3,494 | $ | 11,035 | $ | 12,887 | $ | 1,642 | $ | 17 | ||||||||||
Government Money Market Portfolio* | 1,654 | 1,023 | 2,677 | -0- | 2 | |||||||||||||||
|
|
|
| |||||||||||||||||
Total | $ | 1,642 | $ | 19 | ||||||||||||||||
|
|
|
|
* | Investment of cash collateral for securities lending transactions. |
24