AB Sustainable US Thematic Portfolio
Portfolio of Investments
September 30, 2023 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS – 95.6% | ||||||||
Information Technology – 32.4% | ||||||||
Communications Equipment – 2.1% | ||||||||
Ciena Corp.(a) | 55,359 | $ | 2,616,267 | |||||
Lumentum Holdings, Inc.(a) | 5,179 | 233,987 | ||||||
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2,850,254 | ||||||||
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Electronic Equipment, Instruments & Components – 7.3% |
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Flex Ltd.(a) | 127,707 | 3,445,535 | ||||||
Keysight Technologies, Inc.(a) | 25,929 | 3,430,666 | ||||||
TE Connectivity Ltd. | 23,961 | 2,959,902 | ||||||
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9,836,103 | ||||||||
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IT Services – 2.5% | ||||||||
Accenture PLC - Class A | 10,939 | 3,359,476 | ||||||
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Semiconductors & Semiconductor Equipment – 8.3% | ||||||||
Advanced Micro Devices, Inc.(a) | 12,872 | 1,323,499 | ||||||
Monolithic Power Systems, Inc. | 3,947 | 1,823,514 | ||||||
NVIDIA Corp. | 7,418 | 3,226,756 | ||||||
NXP Semiconductors NV | 10,117 | 2,022,591 | ||||||
ON Semiconductor Corp.(a) | 29,258 | 2,719,531 | ||||||
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11,115,891 | ||||||||
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Software – 12.2% | ||||||||
Adobe, Inc.(a) | 5,606 | 2,858,499 | ||||||
Bentley Systems, Inc. - Class B | 9,443 | 473,661 | ||||||
Fair Isaac Corp.(a) | 2,738 | 2,378,035 | ||||||
Intuit, Inc. | 6,785 | 3,466,728 | ||||||
Microsoft Corp. | 15,242 | 4,812,662 | ||||||
Palo Alto Networks, Inc.(a) | 9,928 | 2,327,520 | ||||||
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16,317,105 | ||||||||
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43,478,829 | ||||||||
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Health Care – 22.9% | ||||||||
Health Care Equipment & Supplies – 6.8% | ||||||||
Alcon, Inc. | 43,020 | 3,315,121 | ||||||
Becton Dickinson & Co. | 11,999 | 3,102,101 | ||||||
STERIS PLC | 12,204 | 2,677,802 | ||||||
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9,095,024 | ||||||||
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Health Care Providers & Services – 4.6% | ||||||||
Laboratory Corp. of America Holdings | 12,058 | 2,424,261 | ||||||
UnitedHealth Group, Inc. | 7,262 | 3,661,428 | ||||||
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6,085,689 | ||||||||
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Life Sciences Tools & Services – 9.4% | ||||||||
Bio-Rad Laboratories, Inc. - Class A(a) | 4,972 | 1,782,214 | ||||||
Bruker Corp. | 27,628 | 1,721,224 | ||||||
Danaher Corp. | 14,037 | 3,482,580 | ||||||
ICON PLC(a) | 12,868 | 3,168,745 | ||||||
West Pharmaceutical Services, Inc. | 6,663 | 2,500,024 | ||||||
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12,654,787 | ||||||||
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Company | Shares | U.S. $ Value | ||||||
Pharmaceuticals – 2.1% | ||||||||
Johnson & Johnson | 18,268 | $ | 2,845,241 | |||||
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30,680,741 | ||||||||
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Industrials – 13.2% | ||||||||
Aerospace & Defense – 1.7% | ||||||||
Hexcel Corp. | 34,762 | 2,264,397 | ||||||
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Building Products – 2.0% | ||||||||
Owens Corning | 19,894 | 2,713,740 | ||||||
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Commercial Services & Supplies – 4.4% | ||||||||
Tetra Tech, Inc. | 17,099 | 2,599,561 | ||||||
Waste Management, Inc. | 22,129 | 3,373,345 | ||||||
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5,972,906 | ||||||||
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Electrical Equipment – 1.5% | ||||||||
Rockwell Automation, Inc. | 7,127 | 2,037,395 | ||||||
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Machinery – 2.2% | ||||||||
Deere & Co. | 7,687 | 2,900,920 | ||||||
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Professional Services – 1.4% | ||||||||
Maximus, Inc. | 24,766 | 1,849,525 | ||||||
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17,738,883 | ||||||||
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Financials – 10.8% | ||||||||
Capital Markets – 4.7% | ||||||||
Intercontinental Exchange, Inc. | 25,749 | 2,832,905 | ||||||
MSCI, Inc. | 6,762 | 3,469,447 | ||||||
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6,302,352 | ||||||||
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Financial Services – 3.1% | ||||||||
Visa, Inc. - Class A | 17,833 | 4,101,768 | ||||||
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Insurance – 3.0% | ||||||||
Aflac, Inc. | 52,804 | 4,052,707 | ||||||
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14,456,827 | ||||||||
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Consumer Staples – 6.5% | ||||||||
Household Products – 2.5% | ||||||||
Procter & Gamble Co. (The) | 23,029 | 3,359,010 | ||||||
Personal Care Products – 4.0% | ||||||||
Haleon PLC (ADR)(b) | 237,228 | 1,976,109 | ||||||
Unilever PLC (Sponsored ADR) | 68,478 | 3,382,813 | ||||||
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5,358,922 | ||||||||
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8,717,932 | ||||||||
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Consumer Discretionary – 5.3% | ||||||||
Automobile Components – 1.7% | ||||||||
Aptiv PLC(a) | 22,242 | 2,192,839 | ||||||
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Household Durables – 1.9% | ||||||||
TopBuild Corp.(a) | 9,992 | 2,513,987 | ||||||
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Specialty Retail – 1.7% | ||||||||
Home Depot, Inc. (The) | 7,649 | 2,311,222 | ||||||
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7,018,048 | ||||||||
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Company | Shares | U.S. $ Value | ||||||
Utilities – 3.4% | ||||||||
Electric Utilities – 2.0% | ||||||||
NextEra Energy, Inc. | 45,923 | $ | 2,630,929 | |||||
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Water Utilities – 1.4% | ||||||||
American Water Works Co., Inc. | 15,254 | 1,888,903 | ||||||
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4,519,832 | ||||||||
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Real Estate – 1.1% | ||||||||
Specialized REITs – 1.1% | ||||||||
SBA Communications Corp. | 7,576 | 1,516,488 | ||||||
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Total Common Stocks | 128,127,580 | |||||||
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SHORT-TERM INVESTMENTS – 4.5% | ||||||||
Investment Companies – 4.5% | ||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(c) (d) (e) | 6,051,498 | 6,051,498 | ||||||
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Total Investments Before Security Lending Collateral for Securities Loaned – 100.1% | 134,179,078 | |||||||
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INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.0% | ||||||||
Investment Companies – 0.0% | ||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(c) (d) (e) | 43,214 | 43,214 | ||||||
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Total Investments – 100.1% | 134,222,292 | |||||||
Other assets less liabilities – (0.1)% | (121,051 | ) | ||||||
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Net Assets – 100.0% | $ | 134,101,241 | ||||||
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(a) | Non-income producing security. |
(b) | Represents entire or partial securities out on loan. |
(c) | 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. |
(d) | Affiliated investments. |
(e) | The rate shown represents the 7-day yield as of period end. |
(f) | As of September 30, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $32,184,324 and gross unrealized depreciation of investments was $(1,533,010), resulting in net unrealized appreciation of $30,651,314. |
Glossary:
ADR – American Depositary Receipt
REIT – Real Estate Investment Trust
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AB Sustainable US Thematic Portfolio
September 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) |
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.
The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of September 30, 2023:
Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Common Stocks^ | $ | 128,127,580 | $ | -0- | $ | -0- | $ | 128,127,580 | ||||||||
Short-Term Investments: | ||||||||||||||||
Investment Companies | 6,051,498 | -0- | -0- | 6,051,498 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 43,214 | -0- | -0- | 43,214 | ||||||||||||
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Total Investments in Securities | 134,222,292 | -0- | -0- | 134,222,292 | ||||||||||||
Other Financial Instruments* | -0- | -0- | -0- | -0- | ||||||||||||
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Total | $ | 134,222,292 | $ | -0- | $ | -0- | $ | 134,222,292 | ||||||||
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^ | See Portfolio of Investments for sector classifications. |
* | 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 summary of the Fund’s transactions in AB mutual funds for the three months ended September 30, 2023 is as follows:
Fund | Market Value 6/30/23 (000) | Purchases at Cost (000) | Sales Proceeds (000) | Market Value 9/30/23 (000) | Dividend Income (000) | |||||||||||||||
Government Money Market Portfolio | $ | 8,047 | $ | 6,523 | $ | 8,519 | $ | 6,051 | $ | 25 | ||||||||||
Government Money Market Portfolio* | 1,996 | 14,657 | 16,610 | 43 | 7 | |||||||||||||||
Total | $ | 6,094 | $ | 32 |
* | Investment of cash collateral for securities lending transactions. |
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