Ab Corporate Shares NPORT-P AB Corporate Income Shares (Jan 2022 report)

AB Corporate Income Shares

Portfolio of Investments

January 31, 2022 (unaudited)

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADE – 95.3%
Industrial – 48.5%
Basic – 4.1%
Alpek SAB de CV 3.25%, 02/25/2031(a)	$	214	$	205,079
Anglo American Capital PLC 2.25%, 03/17/2028(a)		400		384,950
5.625%, 04/01/2030(a)		435		500,196
ArcelorMittal SA 4.25%, 07/16/2029		590		622,055
Celanese US Holdings LLC 1.40%, 08/05/2026		680		651,467
Celulosa Arauco y Constitucion SA 4.25%, 04/30/2029(a)		246		254,579
4.50%, 08/01/2024		200		208,663
EI du Pont de Nemours and Co. 1.70%, 07/15/2025		533		529,658
Equate Petrochemical BV 2.625%, 04/28/2028(a)		317		308,679
Glencore Funding LLC 1.625%, 09/01/2025(a)		651		634,718
2.625%, 09/23/2031(a)		405		378,849
4.625%, 04/29/2024(a)		215		227,158
Huntsman International LLC 2.95%, 06/15/2031		660		646,510
Industrias Penoles SAB de CV 4.15%, 09/12/2029(a)		300		312,525
International Flavors & Fragrances, Inc. 1.832%, 10/15/2027(a)		38		36,376
2.30%, 11/01/2030(a)		260		245,726
International Paper Co. 7.30%, 11/15/2039		170		245,405
Inversiones CMPC SA 3.85%, 01/13/2030(a)		210		211,648
LyondellBasell Industries NV 4.625%, 02/26/2055		122		136,522
Mosaic Co. (The) 5.625%, 11/15/2043		210		265,301
Newmont Corp. 2.60%, 07/15/2032		665		640,827
Reliance Steel & Aluminum Co. 4.50%, 04/15/2023		1,038		1,067,168
Sealed Air Corp. 1.573%, 10/15/2026(a)		675		644,510
Sherwin-Williams Co. (The) 3.125%, 06/01/2024		62		63,977
Suzano Austria GmbH 3.75%, 01/15/2031		92		89,660
Westlake Chemical Corp. 3.375%, 08/15/2061		540		483,689
Yamana Gold, Inc. 2.63%, 08/15/2031		639		608,622
				10,604,517

1

	Principal Amount (000)		U.S. $ Value
Capital Goods – 0.8%
CNH Industrial Capital LLC 1.95%, 07/02/2023	$	390	$	391,712
Flowserve Corp. 2.80%, 01/15/2032		564		529,692
Siemens Financieringsmaatschappij NV 2.875%, 03/11/2041(a)		305		293,633
Westinghouse Air Brake Technologies Corp. 4.40%, 03/15/2024		39		40,840
4.95%, 09/15/2028		855		954,428
				2,210,305
Communications - Media – 5.1%
Charter Communications Operating LLC/Charter Communications Operating Capital 2.30%, 02/01/2032		555		499,772
3.50%, 06/01/2041		615		553,279
3.70%, 04/01/2051		275		244,093
5.125%, 07/01/2049		379		403,138
5.375%, 05/01/2047		639		705,303
Comcast Corp. 2.937%, 11/01/2056(a)		802		712,064
3.25%, 11/01/2039		698		695,487
3.90%, 03/01/2038		265		284,761
4.65%, 07/15/2042		348		405,173
Cox Communications, Inc. 2.60%, 06/15/2031(a)		524		503,637
Discovery Communications LLC 4.65%, 05/15/2050		59		63,959
5.20%, 09/20/2047		228		262,797
5.30%, 05/15/2049		82		96,088
Fox Corp. 3.05%, 04/07/2025		23		23,664
3.50%, 04/08/2030		220		228,177
4.709%, 01/25/2029		555		613,042
5.576%, 01/25/2049		646		815,097
Interpublic Group of Cos., Inc. (The) 4.65%, 10/01/2028		93		103,674
Netflix, Inc. 4.875%, 04/15/2028		705		775,768
Omnicom Group, Inc. 2.60%, 08/01/2031		260		253,149
4.20%, 06/01/2030		769		841,863
Prosus NV 3.257%, 01/19/2027(a)		237		235,459
3.68%, 01/21/2030(a)		210		204,789
Tencent Holdings Ltd. 2.39%, 06/03/2030(a)		397		377,597
Thomson Reuters Corp. 5.65%, 11/23/2043		280		373,579
Time Warner Entertainment Co. LP 8.375%, 03/15/2023		1,207		1,296,547
ViacomCBS, Inc. 3.50%, 01/15/2025		21		21,800
4.20%, 05/19/2032		275		297,605

2

	Principal Amount (000)		U.S. $ Value
Walt Disney Co. (The) 3.00%, 09/15/2022	$	325	$	329,521
3.35%, 03/24/2025		161		168,076
4.00%, 10/01/2023		40		41,705
6.40%, 12/15/2035		201		273,475
8.875%, 04/26/2023		125		136,369
Weibo Corp. 3.50%, 07/05/2024		373		379,792
				13,220,299
Communications - Telecommunications – 3.9%
AT&T, Inc. 2.55%, 12/01/2033		470		442,073
3.30%, 02/01/2052		65		59,739
3.50%, 09/15/2053		274		260,245
3.55%, 09/15/2055		655		618,196
3.80%, 12/01/2057		150		146,802
4.30%, 02/15/2030-12/15/2042		1,513		1,631,210
4.35%, 03/01/2029		450		494,510
5.15%, 03/15/2042		314		375,428
6.55%, 01/15/2028		130		154,627
Corning, Inc. 4.75%, 03/15/2042		785		945,909
Rogers Communications, Inc. 4.50%, 03/15/2043		4		4,393
T-Mobile USA, Inc. 2.70%, 03/15/2032(a)		670		642,054
3.875%, 04/15/2030		1,219		1,280,352
Verizon Communications, Inc. 2.355%, 03/15/2032(a)		618		586,772
2.55%, 03/21/2031		241		235,296
3.40%, 03/22/2041		495		490,164
4.272%, 01/15/2036		716		803,008
4.50%, 08/10/2033		835		946,205
				10,116,983
Consumer Cyclical - Automotive – 2.2%
BMW US Capital LLC 3.90%, 04/09/2025(a)		458		485,256
General Motors Co. 5.95%, 04/01/2049		115		145,819
General Motors Financial Co., Inc. 2.40%, 04/10/2028		1,140		1,105,105
3.10%, 01/12/2032		530		518,987
3.50%, 11/07/2024		119		123,323
3.60%, 06/21/2030		692		710,552
4.15%, 06/19/2023		146		150,669
Harley-Davidson Financial Services, Inc. 3.35%, 06/08/2025(a)		1,014		1,042,757
Hyundai Capital America 5.875%, 04/07/2025(a)		200		221,350
Lear Corp. 3.50%, 05/30/2030		40		41,329
3.80%, 09/15/2027		256		270,682
Nissan Motor Acceptance Co. LLC 2.75%, 03/09/2028(a)		255		247,862
Nissan Motor Co., Ltd. 4.345%, 09/17/2027(a)		285		300,723

3

	Principal Amount (000)		U.S. $ Value
Volkswagen Group of America Finance LLC 3.35%, 05/13/2025(a)	$	285	$	295,793
				5,660,207
Consumer Cyclical - Entertainment – 0.4%
Hasbro, Inc. 3.90%, 11/19/2029		493		524,118
5.10%, 05/15/2044		445		524,878
				1,048,996
Consumer Cyclical - Other – 2.3%
DR Horton, Inc. 2.50%, 10/15/2024		510		516,860
Las Vegas Sands Corp. 2.90%, 06/25/2025		855		848,827
3.90%, 08/08/2029		480		476,592
Lennar Corp. 4.50%, 04/30/2024		495		520,334
4.75%, 11/29/2027		540		595,674
Marriott International, Inc./MD 3.75%, 10/01/2025		235		245,544
Series EE 5.75%, 05/01/2025		456		504,797
Series II 2.75%, 10/15/2033		540		504,014
MDC Holdings, Inc. 2.50%, 01/15/2031		525		491,626
6.00%, 01/15/2043		170		198,876
PulteGroup, Inc. 6.375%, 05/15/2033		115		145,005
7.875%, 06/15/2032		265		367,322
Toll Brothers Finance Corp. 3.80%, 11/01/2029		460		474,508
				5,889,979
Consumer Cyclical - Restaurants – 0.1%
McDonald’s Corp. 4.70%, 12/09/2035		280		326,379
Consumer Cyclical - Retailers – 2.0%
Advance Auto Parts, Inc. 3.90%, 04/15/2030		1,090		1,158,659
Dollar General Corp. 3.25%, 04/15/2023		61		62,132
Dollar Tree, Inc. 2.65%, 12/01/2031		565		546,524
Home Depot, Inc. (The) 5.875%, 12/16/2036		40		54,042
PVH Corp. 4.625%, 07/10/2025		700		749,490
Ralph Lauren Corp. 2.95%, 06/15/2030		1,215		1,230,759
Ross Stores, Inc. 4.70%, 04/15/2027		200		221,166
4.80%, 04/15/2030		115		128,452
5.45%, 04/15/2050		215		272,609

4

	Principal Amount (000)		U.S. $ Value
VF Corp. 2.40%, 04/23/2025	$	88	$	89,327
2.95%, 04/23/2030		599		604,732
				5,117,892
Consumer Non-Cyclical – 8.0%
AbbVie, Inc. 4.05%, 11/21/2039		80		86,463
4.40%, 11/06/2042		440		494,415
Altria Group, Inc. 3.40%, 05/06/2030		220		221,217
4.00%, 02/04/2061		370		323,458
4.80%, 02/14/2029		1,001		1,100,690
5.95%, 02/14/2049		230		268,371
AmerisourceBergen Corp. 0.737%, 03/15/2023		880		874,315
4.25%, 03/01/2045		205		220,605
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. 4.70%, 02/01/2036		450		517,126
Anheuser-Busch InBev Finance, Inc. 4.70%, 02/01/2036		548		629,723
Anheuser-Busch InBev Worldwide, Inc. 4.60%, 06/01/2060		178		204,600
4.95%, 01/15/2042		600		712,134
BAT Capital Corp. 2.259%, 03/25/2028		387		367,487
4.39%, 08/15/2037		403		407,421
4.906%, 04/02/2030		934		1,022,422
Baxter International, Inc. 0.868%, 12/01/2023(a)		675		666,259
Biogen, Inc. 2.25%, 05/01/2030		400		376,912
3.15%, 05/01/2050		655		580,441
Bristol-Myers Squibb Co. 3.55%, 08/15/2022		256		259,878
Cardinal Health, Inc. 4.90%, 09/15/2045		385		432,640
Cigna Corp. 3.00%, 07/15/2023		71		72,475
4.80%, 08/15/2038		880		1,012,519
7.875%, 05/15/2027		53		66,888
CommonSpirit Health 4.35%, 11/01/2042		44		49,085
CVS Health Corp. 3.875%, 07/20/2025		378		399,871
4.78%, 03/25/2038		991		1,143,663
5.125%, 07/20/2045		395		480,830
Gilead Sciences, Inc. 0.75%, 09/29/2023		253		250,070
4.80%, 04/01/2044		475		564,837
5.65%, 12/01/2041		125		163,099
Kimberly-Clark de Mexico SAB de CV 2.431%, 07/01/2031(a)		320		307,300
Merck & Co., Inc. 2.75%, 12/10/2051		530		486,614
Mylan, Inc. 4.20%, 11/29/2023		852		884,589

5

	Principal Amount (000)		U.S. $ Value
Ochsner LSU Health System of North Louisiana Series 2021 2.51%, 05/15/2031	$	324	$	304,625
Perrigo Finance Unlimited Co. 4.375%, 03/15/2026		420		427,879
Pfizer, Inc. 4.10%, 09/15/2038		230		261,646
4.125%, 12/15/2046		142		165,152
4.20%, 09/15/2048		146		172,153
Smithfield Foods, Inc. 2.625%, 09/13/2031(a)		670		630,899
Sysco Corp. 2.45%, 12/14/2031		535		517,869
3.15%, 12/14/2051		270		246,696
5.95%, 04/01/2030		309		375,018
6.60%, 04/01/2050		277		404,816
Thermo Fisher Scientific, Inc. 0.797%, 10/18/2023		815		806,793
2.00%, 10/15/2031		395		375,270
Wyeth LLC 5.95%, 04/01/2037		324		433,531
				20,770,764
Energy – 8.5%
Boardwalk Pipelines LP 4.80%, 05/03/2029		374		410,401
BP Capital Markets America, Inc. 2.939%, 06/04/2051		605		542,824
3.00%, 02/24/2050		820		746,339
Cenovus Energy, Inc. 4.40%, 04/15/2029		730		790,532
5.375%, 07/15/2025		78		85,329
Continental Resources, Inc./OK 2.875%, 04/01/2032(a)		384		361,332
5.75%, 01/15/2031(a)		281		320,377
Devon Energy Corp. 5.60%, 07/15/2041		545		660,894
Ecopetrol SA 5.875%, 09/18/2023-05/28/2045		89		89,185
Enable Midstream Partners LP 5.00%, 05/15/2044		41		42,788
Enbridge Energy Partners LP 7.375%, 10/15/2045		526		773,941
Enbridge, Inc. 3.40%, 08/01/2051		795		756,570
Energy Transfer LP 3.90%, 07/15/2026		550		575,987
4.20%, 04/15/2027		47		49,749
4.40%, 03/15/2027		446		473,991
4.95%, 05/15/2028		63		68,493
5.35%, 05/15/2045		175		190,173
6.25%, 04/15/2049		803		985,104
Eni SpA 4.25%, 05/09/2029(a)		247		268,499
Series 0000 5.70%, 10/01/2040(a)		420		524,639

6

	Principal Amount (000)		U.S. $ Value
Enterprise Products Operating LLC 3.70%, 01/31/2051	$	160	$	157,283
4.20%, 01/31/2050		797		841,074
4.80%, 02/01/2049		85		97,573
4.90%, 05/15/2046		45		51,560
EOG Resources, Inc. 4.375%, 04/15/2030		74		83,100
Exxon Mobil Corp. 4.114%, 03/01/2046		644		725,060
4.327%, 03/19/2050		270		317,984
Flex Intermediate Holdco LLC 3.363%, 06/30/2031(a)		265		257,803
4.317%, 12/30/2039(a)		265		259,507
Kinder Morgan, Inc. 5.55%, 06/01/2045		825		983,433
Marathon Oil Corp. 6.60%, 10/01/2037		385		497,732
Marathon Petroleum Corp. 5.125%, 12/15/2026		736		824,055
6.50%, 03/01/2041		205		268,878
MPLX LP 5.20%, 03/01/2047-12/01/2047		475		547,115
ONEOK Partners LP 6.125%, 02/01/2041		540		652,644
ONEOK, Inc. 6.35%, 01/15/2031		553		672,028
Ovintiv Exploration Inc. 5.375%, 01/01/2026		750		819,285
Pioneer Natural Resources Co. 2.15%, 01/15/2031		700		655,508
Plains All American Pipeline LP/PAA Finance Corp. 3.55%, 12/15/2029		51		51,517
4.50%, 12/15/2026		421		452,558
Sabine Pass Liquefaction LLC 5.625%, 04/15/2023		552		573,511
Saudi Arabian Oil Co. 2.25%, 11/24/2030(a)		350		332,062
Shell International Finance BV 3.75%, 09/12/2046		125		133,729
Suncor Energy, Inc. 6.50%, 06/15/2038		385		504,974
6.85%, 06/01/2039		265		362,679
Tengizchevroil Finance Co. International Ltd. 3.25%, 08/15/2030(a)		265		253,473
TransCanada PipeLines Ltd. 4.75%, 05/15/2038		50		56,590
7.625%, 01/15/2039		170		250,413
Valero Energy Corp. 7.50%, 04/15/2032		388		511,722
Western Midstream Operating LP 4.65%, 07/01/2026		81		84,805
5.45%, 04/01/2044		149		164,877
Williams Cos., Inc. (The) 3.50%, 10/15/2051		670		630,436
6.30%, 04/15/2040		160		205,189
				21,997,304

7

	Principal Amount (000)		U.S. $ Value
Other Industrial – 0.2%
Huntington Ingalls Industries, Inc. 2.043%, 08/16/2028(a)	$	665	$	633,326
Services – 2.4%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031		400		374,992
2.70%, 02/09/2041		300		259,434
Amazon.com, Inc. 4.25%, 08/22/2057		127		152,889
Block Financial LLC 2.50%, 07/15/2028		540		526,279
Booking Holdings, Inc. 4.625%, 04/13/2030		990		1,130,916
eBay, Inc. 2.60%, 05/10/2031		1,065		1,038,141
Expedia Group, Inc. 2.95%, 03/15/2031		495		476,799
4.625%, 08/01/2027		279		304,166
6.25%, 05/01/2025(a)		33		36,790
Global Payments, Inc. 2.90%, 11/15/2031		675		661,446
3.20%, 08/15/2029		455		460,141
IHS Markit Ltd. 4.00%, 03/01/2026(a)		76		81,147
4.25%, 05/01/2029		90		100,119
4.75%, 08/01/2028		20		22,540
Moody’s Corp. 2.75%, 08/19/2041		225		205,238
5.25%, 07/15/2044		436		553,310
				6,384,347
Technology – 7.7%
Analog Devices, Inc. 2.95%, 04/01/2025		36		37,210
Apple, Inc. 2.55%, 08/20/2060		260		222,986
2.65%, 05/11/2050		210		190,947
4.45%, 05/06/2044		1,081		1,296,249
Baidu, Inc. 1.625%, 02/23/2027		435		414,638
3.075%, 04/07/2025		265		271,122
Broadcom, Inc. 3.137%, 11/15/2035(a)		586		556,407
3.187%, 11/15/2036(a)		983		932,847
3.419%, 04/15/2033(a)		170		169,261
4.11%, 09/15/2028		562		599,772
Broadridge Financial Solutions, Inc. 2.60%, 05/01/2031		395		384,485
CDW LLC/CDW Finance Corp. 2.67%, 12/01/2026		555		552,802
Dell International LLC/EMC Corp. 4.90%, 10/01/2026		666		732,407
6.02%, 06/15/2026		633		718,360
8.35%, 07/15/2046		42		66,329

8

	Principal Amount (000)		U.S. $ Value
DXC Technology Co. 1.80%, 09/15/2026	$	400	$	387,636
2.375%, 09/15/2028		400		384,308
Fidelity National Information Services, Inc. 0.375%, 03/01/2023		865		856,255
Honeywell International, Inc. 0.483%, 08/19/2022		54		53,994
Infor, Inc. 1.75%, 07/15/2025(a)		95		92,398
Intel Corp. 4.75%, 03/25/2050		564		696,123
Kyndryl Holdings, Inc. 2.05%, 10/15/2026(a)		1,340		1,281,522
Lam Research Corp. 3.75%, 03/15/2026		172		183,823
Leidos, Inc. 4.375%, 05/15/2030		596		641,552
Marvell Technology, Inc. 2.95%, 04/15/2031		505		495,723
Micron Technology, Inc. 4.663%, 02/15/2030		555		614,729
NXP BV/NXP Funding LLC 5.55%, 12/01/2028(a)		1,176		1,368,423
NXP BV/NXP Funding LLC/NXP USA, Inc. 2.70%, 05/01/2025(a)		24		24,373
Oracle Corp. 2.50%, 05/15/2022-04/01/2025		1,099		1,106,436
2.875%, 03/25/2031		260		250,923
3.60%, 04/01/2050		716		635,772
3.85%, 04/01/2060		94		84,073
3.95%, 03/25/2051		263		248,275
4.00%, 11/15/2047		667		633,677
6.125%, 07/08/2039		314		388,248
SK Hynix, Inc. 2.375%, 01/19/2031(a)		390		361,335
Skyworks Solutions, Inc. 3.00%, 06/01/2031		319		307,567
Texas Instruments, Inc. 1.85%, 05/15/2022		325		325,868
VeriSign, Inc. 2.70%, 06/15/2031		174		167,649
VMware, Inc. 3.90%, 08/21/2027		721		766,149
Western Digital Corp. 2.85%, 02/01/2029		110		106,313
3.10%, 02/01/2032		306		292,713
				19,901,679
Transportation - Airlines – 0.4%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(a)		161		166,863
Southwest Airlines Co. 5.25%, 05/04/2025		835		911,787
				1,078,650

9

	Principal Amount (000)		U.S. $ Value
Transportation - Services – 0.4%
ENA Master Trust 4.00%, 05/19/2048(a)	$	370	$	365,097
ERAC USA Finance LLC 3.85%, 11/15/2024(a)		175		183,346
Penske Truck Leasing Co. Lp/PTL Finance Corp. 3.90%, 02/01/2024(a)		370		384,056
4.20%, 04/01/2027(a)		147		158,928
				1,091,427
				126,053,054
Financial Institutions – 40.9%
Banking – 24.6%
ABN AMRO Bank NV 3.324%, 03/13/2037(a)		600		575,214
Ally Financial, Inc. 2.20%, 11/02/2028		670		639,823
Banco de Credito del Peru 3.125%, 07/01/2030(a)		464		454,082
Banco Santander SA 1.722%, 09/14/2027		800		767,136
2.749%, 12/03/2030		400		376,828
5.179%, 11/19/2025		600		652,908
Bank of America Corp. 2.299%, 07/21/2032		1,125		1,065,240
2.592%, 04/29/2031		835		817,031
2.687%, 04/22/2032		860		841,811
2.831%, 10/24/2051		370		337,984
2.884%, 10/22/2030		680		680,972
3.97%, 03/05/2029		760		809,332
3.974%, 02/07/2030		600		642,432
4.078%, 04/23/2040		620		678,237
4.271%, 07/23/2029		1,017		1,104,503
Series X 6.25%, 09/05/2024(b)		295		313,337
Series Z 6.50%, 10/23/2024(b)		53		56,995
Bank of Ireland Group PLC 2.029%, 09/30/2027(a)		560		537,331
Bank of New York Mellon Corp. (The) Series G 4.70%, 09/20/2025(b)		268		283,011
Barclays PLC 2.279%, 11/24/2027		555		543,933
5.20%, 05/12/2026		435		475,842
BBVA Bancomer SA/Texas 5.875%, 09/13/2034(a)		330		350,625
BNP Paribas SA 2.159%, 09/15/2029(a)		815		773,916
2.591%, 01/20/2028(a)		660		655,076
2.871%, 04/19/2032(a)		520		505,986

10

	Principal Amount (000)		U.S. $ Value
BPCE SA 2.045%, 10/19/2027(a)	$	550	$	533,230
5.15%, 07/21/2024(a)		200		213,268
Capital One Financial Corp. 2.359%, 07/29/2032		650		596,225
Citigroup, Inc. 2.52%, 11/03/2032		775		746,736
2.561%, 05/01/2032		685		664,231
3.875%, 02/18/2026(b)		344		336,938
3.98%, 03/20/2030		560		598,836
4.075%, 04/23/2029		708		759,861
4.412%, 03/31/2031		369		406,845
4.45%, 09/29/2027		1,222		1,328,864
Series W 4.00%, 12/10/2025(b)		368		364,979
Series Y 4.15%, 11/15/2026(b)		569		555,691
Commonwealth Bank of Australia 3.305%, 03/11/2041(a)		305		295,097
Credit Suisse Group AG 1.305%, 02/02/2027(a)		250		236,310
3.091%, 05/14/2032(a)		663		643,932
4.194%, 04/01/2031(a)		347		368,948
4.55%, 04/17/2026		285		307,293
Danske Bank A/S 1.621%, 09/11/2026(a)		556		538,881
Deutsche Bank AG/New York NY 2.311%, 11/16/2027		1,190		1,155,941
2.552%, 01/07/2028		535		524,129
3.961%, 11/26/2025		555		577,344
Discover Bank 4.682%, 08/09/2028		385		398,664
Discover Financial Services 4.10%, 02/09/2027		670		711,634
DNB Bank ASA 6.50%, 03/26/2022(a) (b)		200		201,494
Goldman Sachs Group, Inc. (The) 1.948%, 10/21/2027		540		525,523
2.383%, 07/21/2032		544		515,130
2.615%, 04/22/2032		730		707,297
3.102%, 02/24/2033		499		501,779
3.80%, 03/15/2030		1,279		1,360,076
4.223%, 05/01/2029		592		639,028
5.95%, 01/15/2027		40		46,014
Series V 4.125%, 11/10/2026(b)		248		242,395
HSBC Holdings PLC 2.013%, 09/22/2028		285		273,067
2.206%, 08/17/2029		545		519,178
2.251%, 11/22/2027		555		543,334
3.973%, 05/22/2030		342		360,588
4.583%, 06/19/2029		1,270		1,384,998
6.375%, 03/30/2025(b)		405		428,721
ING Groep NV 2.727%, 04/01/2032		510		498,760
6.875%, 04/16/2022(a) (b)		200		202,024

11

	Principal Amount (000)		U.S. $ Value
JPMorgan Chase & Co. 1.953%, 02/04/2032	$	830	$	769,261
2.545%, 11/08/2032		765		742,004
2.58%, 04/22/2032		595		578,840
2.956%, 05/13/2031		2,064		2,052,400
2.963%, 01/25/2033		260		261,565
3.882%, 07/24/2038		910		981,744
8.00%, 04/29/2027		650		823,251
Series I 3.769% (LIBOR 3 Month + 3.47%), 04/30/2022(b) (c)		247		247,689
Series Q 5.15%, 05/01/2023(b)		255		260,561
Series V 3.534% (LIBOR 3 Month + 3.80%), 04/01/2022(b) (c)		62		61,984
Series Z 3.932% (LIBOR 3 Month + 2.32%), 02/01/2022(b) (c)		107		107,000
M&T Bank Corp. 3.50%, 09/01/2026(b)		334		314,003
Macquarie Group Ltd. 1.34%, 01/12/2027(a)		326		312,086
2.691%, 06/23/2032(a)		625		601,162
Mitsubishi UFJ Financial Group, Inc. 2.309%, 07/20/2032		270		257,369
2.494%, 10/13/2032		330		319,819
Mizuho Financial Group Cayman 3 Ltd. 4.60%, 03/27/2024(a)		1,295		1,361,744
Mizuho Financial Group, Inc. 2.564%, 09/13/2031		440		415,567
Morgan Stanley 2.943%, 01/21/2033		227		227,411
3.622%, 04/01/2031		265		280,171
Series F 3.875%, 04/29/2024		55		57,500
Series G 4.431%, 01/23/2030		660		729,960
National Australia Bank Ltd. 3.347%, 01/12/2037(a)		665		649,765
NatWest Group PLC Series U 2.544% (LIBOR 3 Month + 2.32%), 09/30/2027(b) (c)		300		298,227
PNC Financial Services Group, Inc. (The) Series O 3.995% (LIBOR 3 Month + 3.68%), 05/01/2022(b) (c)		448		449,765
Santander Holdings USA, Inc. 2.49%, 01/06/2028		156		153,783
4.40%, 07/13/2027		1,877		2,000,094
Santander UK Group Holdings PLC 2.469%, 01/11/2028		325		320,359
Societe Generale SA 1.792%, 06/09/2027(a)		435		415,664
2.797%, 01/19/2028(a)		795		786,430
4.25%, 04/14/2025(a)		243		253,772
4.75%, 11/24/2025(a)		200		212,836

12

	Principal Amount (000)		U.S. $ Value
Standard Chartered PLC 1.456%, 01/14/2027(a)	$	345	$	329,244
2.608%, 01/12/2028(a)		579		571,131
Sumitomo Mitsui Financial Group, Inc. 2.142%, 09/23/2030		701		651,671
Truist Financial Corp. Series P 4.95%, 09/01/2025(b)		993		1,050,227
Series Q 5.10%, 03/01/2030(b)		327		354,674
UBS Group AG 2.746%, 02/11/2033(a)		535		518,656
3.179%, 02/11/2043(a)		265		255,320
UniCredit SpA 3.127%, 06/03/2032(a)		266		251,322
Wells Fargo & Co. 4.15%, 01/24/2029		567		616,720
4.478%, 04/04/2031		1,190		1,336,132
5.606%, 01/15/2044		690		880,985
Series BB 3.90%, 03/15/2026(b)		1,005		995,221
Western Union Co. (The) 2.75%, 03/15/2031		610		584,545
Westpac Banking Corp. 3.02%, 11/18/2036		780		745,376
4.11%, 07/24/2034		705		739,256
				63,937,134
Brokerage – 0.9%
Charles Schwab Corp. (The) Series G 5.375%, 06/01/2025(b)		271		290,038
Series I 4.00%, 06/01/2026(b)		745		737,244
Jefferies Financial Group, Inc. 5.50%, 10/18/2023		554		575,318
Nomura Holdings, Inc. 2.999%, 01/22/2032		665		654,367
				2,256,967
Finance – 3.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 3.00%, 10/29/2028		810		794,529
3.15%, 02/15/2024		179		182,446
3.30%, 01/30/2032		810		790,366
3.40%, 10/29/2033		330		320,413
3.875%, 01/23/2028		515		532,778
Air Lease Corp. 1.875%, 08/15/2026		435		417,261
2.10%, 09/01/2028		451		423,791
2.875%, 01/15/2026		100		100,715
3.25%, 03/01/2025		89		90,841
3.625%, 04/01/2027		19		19,574
4.625%, 10/01/2028		431		462,558

13

	Principal Amount (000)		U.S. $ Value
Aircastle Ltd. 2.85%, 01/26/2028(a)	$	824	$	806,325
4.25%, 06/15/2026		21		22,054
5.25%, 08/11/2025(a)		260		280,158
Aviation Capital Group LLC 1.95%, 01/30/2026-09/20/2026(a)		735		703,718
3.50%, 11/01/2027(a)		116		116,180
4.375%, 01/30/2024(a)		280		290,357
Synchrony Financial 2.875%, 10/28/2031		458		437,376
3.70%, 08/04/2026		512		530,314
5.15%, 03/19/2029		509		567,713
				7,889,467
Insurance – 4.7%
ACE Capital Trust II 9.70%, 04/01/2030		435		627,740
Alleghany Corp. 3.625%, 05/15/2030		1,085		1,143,644
Allstate Corp. (The) Series B 5.75%, 08/15/2053		712		737,490
American International Group, Inc. 3.75%, 07/10/2025		482		508,496
Berkshire Hathaway, Inc. 2.75%, 03/15/2023		485		492,755
Centene Corp. 2.45%, 07/15/2028		294		279,979
Guardian Life Insurance Co. of America (The) 3.70%, 01/22/2070(a)		260		258,536
Hartford Financial Services Group, Inc. (The) Series ICON 2.281% (LIBOR 3 Month + 2.13%), 02/12/2047(a) (c)		535		503,317
Massachusetts Mutual Life Insurance Co. 5.077%, 02/15/2069(a)		170		207,060
MassMutual Global Funding II 0.60%, 04/12/2024(a)		420		410,752
0.85%, 06/09/2023(a)		270		268,612
Met Tower Global Funding 0.70%, 04/05/2024(a)		875		857,885
MetLife Capital Trust IV 7.875%, 12/15/2037(a)		150		199,076
MetLife, Inc. Series D 5.875%, 03/15/2028(b)		210		231,655
Nationwide Mutual Insurance Co. 9.375%, 08/15/2039(a)		150		252,642
New York Life Insurance Co. 4.45%, 05/15/2069(a)		220		259,956

14

	Principal Amount (000)		U.S. $ Value
Nippon Life Insurance Co. 2.75%, 01/21/2051(a)	$	490	$	466,377
Peachtree Corners Funding Trust 3.976%, 02/15/2025(a)		110		115,578
Prudential Financial, Inc. 5.20%, 03/15/2044		907		933,847
5.375%, 05/15/2045		320		336,349
5.625%, 06/15/2043		859		887,201
Reinsurance Group of America, Inc. 3.15%, 06/15/2030		483		491,274
Swiss Re Finance Luxembourg SA 5.00%, 04/02/2049(a)		600		659,238
Voya Financial, Inc. 5.65%, 05/15/2053		1,080		1,107,907
				12,237,366
REITs – 7.7%
American Homes 4 Rent LP 4.25%, 02/15/2028		5		5,386
American Tower Corp. 2.30%, 09/15/2031		545		510,093
3.125%, 01/15/2027		335		343,077
5.00%, 02/15/2024		645		686,299
Boston Properties LP 2.55%, 04/01/2032		1,001		963,242
Brixmor Operating Partnership LP 2.25%, 04/01/2028		750		727,477
Essential Properties LP 2.95%, 07/15/2031		564		538,406
GLP Capital LP/GLP Financing II, Inc. 3.25%, 01/15/2032		275		265,598
5.25%, 06/01/2025		393		421,815
5.375%, 04/15/2026		144		155,667
Highwoods Realty LP 4.125%, 03/15/2028		710		768,887
Host Hotels & Resorts LP Series E 4.00%, 06/15/2025		323		337,906
Series I 3.50%, 09/15/2030		772		767,476
Series J 2.90%, 12/15/2031		339		318,758
Kilroy Realty LP 3.45%, 12/15/2024		40		41,434
Kimco Realty Corp. 2.80%, 10/01/2026		95		96,967
Office Properties Income Trust 2.65%, 06/15/2026		306		298,374
3.45%, 10/15/2031		820		769,685
4.50%, 02/01/2025		430		448,064
Omega Healthcare Investors, Inc. 4.50%, 01/15/2025		108		114,259
5.25%, 01/15/2026		988		1,079,746
Public Storage 0.52% (SOFR + 0.47%), 04/23/2024(c)		415		414,992

15

	Principal Amount (000)		U.S. $ Value
Realty Income Corp. 2.85%, 12/15/2032	$	447	$	446,155
4.60%, 02/06/2024		1,266		1,332,541
Regency Centers LP 3.70%, 06/15/2030		280		295,758
3.75%, 06/15/2024		33		34,309
4.125%, 03/15/2028		453		493,276
Rexford Industrial Realty LP 2.15%, 09/01/2031		176		162,112
Sabra Health Care LP 3.20%, 12/01/2031		820		779,221
3.90%, 10/15/2029		770		785,685
Simon Property Group LP 2.65%, 02/01/2032		535		524,038
SITE Centers Corp. 3.625%, 02/01/2025		642		664,155
4.25%, 02/01/2026		178		186,742
4.70%, 06/01/2027		365		396,540
Spirit Realty LP 3.20%, 02/15/2031		475		475,955
4.00%, 07/15/2029		162		173,444
4.45%, 09/15/2026		288		311,628
Sun Communities Operating LP 2.30%, 11/01/2028		663		639,795
Ventas Realty LP 3.50%, 02/01/2025		201		208,787
3.85%, 04/01/2027		150		160,019
4.125%, 01/15/2026		23		24,561
Vornado Realty LP 2.15%, 06/01/2026		525		516,705
3.40%, 06/01/2031		655		652,236
WP Carey, Inc. 2.45%, 02/01/2032		670		635,930
4.60%, 04/01/2024		44		46,310
				20,019,510
				106,340,444
Utility – 5.9%
Electric – 5.4%
Abu Dhabi National Energy Co. PJSC 4.375%, 04/23/2025(a)		215		230,426
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(a)		200		199,475
Alfa Desarrollo SpA 4.55%, 09/27/2051(a)		220		200,255
American Transmission Systems 2.65%, 01/15/2032(a)		565		553,418
Berkshire Hathaway Energy Co. 4.25%, 10/15/2050		441		500,861
6.125%, 04/01/2036		260		341,585
CenterPoint Energy, Inc. 0.70% (SOFR + 0.65%), 05/13/2024(c)		390		390,004
2.65%, 06/01/2031		845		826,478
Consolidated Edison Co. of New York, Inc. 4.45%, 03/15/2044		15		16,833
Series A 4.125%, 05/15/2049		350		380,916

16

	Principal Amount (000)		U.S. $ Value
Dominion Energy, Inc. 3.90%, 10/01/2025	$	110	$	116,632
Duke Energy Carolinas LLC 3.45%, 04/15/2051		500		517,375
Duke Energy Corp. 4.20%, 06/15/2049		523		565,217
Empresas Publicas de Medellin ESP 4.25%, 07/18/2029(a)		200		182,975
Enel Americas SA 4.00%, 10/25/2026		53		55,678
Enel Chile SA 4.875%, 06/12/2028		62		67,475
Enel Finance International NV 2.25%, 07/12/2031(a)		555		516,555
6.80%, 09/15/2037(a)		385		517,914
Engie Energia Chile SA 3.40%, 01/28/2030(a)		425		415,055
Entergy Corp. 2.80%, 06/15/2030		450		444,371
Exelon Corp. 3.497%, 06/01/2022		94		94,531
Florida Power & Light Co. 0.30% (SOFR + 0.25%), 05/10/2023(c)		170		169,927
3.95%, 03/01/2048		782		878,905
Georgia Power Co. 4.30%, 03/15/2042		420		457,241
Kentucky Utilities Co. 3.30%, 06/01/2050		52		51,317
National Rural Utilities Cooperative Finance Corp. 0.35%, 02/08/2024		730		713,093
3.40%, 11/15/2023		335		345,261
NextEra Energy Capital Holdings, Inc. 0.43% (LIBOR 3 Month + 0.27%), 02/22/2023(c)		615		614,766
5.65%, 05/01/2079		404		448,800
Public Service Enterprise Group, Inc. 8.625%, 04/15/2031		388		544,399
Southern California Edison Co. 0.70%, 04/03/2023		500		495,135
Southern Co. (The) 2.95%, 07/01/2023		512		521,487
Series A 3.70%, 04/30/2030		720		760,450
Southern Power Co. Series F 4.95%, 12/15/2046		77		90,153
Virginia Electric & Power Co. 8.875%, 11/15/2038		443		750,300
				13,975,263
Natural Gas – 0.5%
GNL Quintero SA 4.634%, 07/31/2029(a)		176		183,297
NiSource, Inc. 5.65%, 02/01/2045		60		76,623

17

	Principal Amount (000)		U.S. $ Value
ONE Gas, Inc. 0.85%, 03/11/2023	$	735	$	730,656
4.658%, 02/01/2044		340		400,139
				1,390,715
				15,365,978
Total Corporates - Investment Grade (cost $252,992,934)				247,759,476
QUASI-SOVEREIGNS – 1.2%
Quasi-Sovereign Bonds – 1.2%
Chile – 0.4%
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030(a)		350		364,175
4.70%, 05/07/2050(a)		295		323,467
Empresa Nacional del Petroleo 3.75%, 08/05/2026(a)		200		202,913
				890,555
Malaysia – 0.1%
Petronas Capital Ltd. 4.55%, 04/21/2050(a)		225		265,359
Mexico – 0.3%
Comision Federal de Electricidad 3.348%, 02/09/2031(a)		321		299,192
Petroleos Mexicanos 6.50%, 01/23/2029		135		137,228
6.75%, 09/21/2047		112		95,536
6.95%, 01/28/2060		169		143,692
7.69%, 01/23/2050		80		73,920
				749,568
Panama – 0.1%
Empresa de Transmision Electrica SA 5.125%, 05/02/2049(a)		246		262,144
Peru – 0.2%
Corp. Financiera de Desarrollo SA 2.40%, 09/28/2027(a)		560		535,500
Qatar – 0.1%
Qatar Petroleum 3.125%, 07/12/2041(a)		277		268,252
Total Quasi-Sovereigns (cost $2,993,351)				2,971,378
GOVERNMENTS - SOVEREIGN BONDS – 0.6%
Colombia – 0.3%
Colombia Government International Bond 3.125%, 04/15/2031		562		481,669
5.20%, 05/15/2049		200		172,287
				653,956

18

	Principal Amount (000)		U.S. $ Value
Mexico – 0.2%
Mexico Government International Bond 4.60%, 01/23/2046	$	200	$	200,400
4.75%, 03/08/2044		150		154,200
				354,600
Peru – 0.0%
Peruvian Government International Bond 2.392%, 01/23/2026		53		52,977
Qatar – 0.1%
Qatar Government International Bond 4.817%, 03/14/2049(a)		228		284,430
Uruguay – 0.0%
Uruguay Government International Bond 4.375%, 01/23/2031		54		60,576
Total Governments - Sovereign Bonds (cost $1,435,171)				1,406,539
CORPORATES - NON-INVESTMENT GRADE – 0.4%
Industrial – 0.3%
Consumer Cyclical - Automotive – 0.1%
Ford Motor Credit Co. LLC 3.81%, 01/09/2024		395		400,249
Consumer Non-Cyclical – 0.1%
Newell Brands, Inc. 4.35%, 04/01/2023		191		194,969
Energy – 0.1%
EQM Midstream Partners LP 4.75%, 07/15/2023		100		101,114
Occidental Petroleum Corp. 3.50%, 08/15/2029		55		54,241
				155,355
				750,573
Financial Institutions – 0.1%
REITs – 0.1%
Diversified Healthcare Trust 4.75%, 02/15/2028		407		383,260
Total Corporates - Non-Investment Grade (cost $1,110,355)				1,133,833
Total Investments – 97.5% (cost $258,531,811)(d)				253,271,226
Other assets less liabilities – 2.5%				6,599,044
Net Assets – 100.0%			$	259,870,270

19

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
U.S. Ultra Bond (CBT) Futures		108		March 2022		$	20,405,250		$	(536,036	)
Sold Contracts
U.S. 10 Yr Ultra Futures		135		March 2022			19,281,797			273,367
U.S. T-Note 5 Yr (CBT) Futures		26		March 2022			3,099,281			24,537
U.S. T-Note 10 Yr (CBT) Futures		4		March 2022			511,875			4,143
									$	(233,989	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at January 31, 2022		Notional Amount (000)			Market Value		Upfront Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
Sale Contracts
CDX-NAIG Series 37, 5 Year Index, 12/20/2026*		1.00	%		Quarterly		0.6%		USD	3,280	$	65,148	$	76,484	$	(11,336)

* 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	1,070	03/27/2022	2.058%	3 Month LIBOR	Semi-Annual/ Quarterly	$	(10,472	)	$	—	$	(10,472	)
USD	60	11/04/2044	3 Month LIBOR	3.049%	Quarterly/ Semi-Annual		12,458			—		12,458
USD	60	05/05/2045	3 Month LIBOR	2.562%	Quarterly/ Semi-Annual		7,005			—		7,005
USD	60	06/02/2046	3 Month LIBOR	2.186%	Quarterly/ Semi-Annual		2,665			—		2,665
USD	690	07/15/2046	3 Month LIBOR	1.783%	Quarterly/ Semi-Annual		(26,553	)		—		(26,553	)
USD	270	09/02/2046	3 Month LIBOR	1.736%	Quarterly/ Semi-Annual		(11,294	)		—		(11,294	)
USD	50	11/02/2046	3 Month LIBOR	2.086%	Quarterly/ Semi-Annual		1,333			—		1,333
						$	(24,858	)	$	—	$	(24,858	)

20

(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 $47,538,123 or 18.3% of net assets.

(b) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(c) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at January 31, 2022.

(d) 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 $2,479,070 and gross unrealized depreciation of investments was $(8,009,838), resulting in net unrealized depreciation of $(5,530,768).

Glossary:

CBT – Chicago Board of Trade

CDX-NAIG – North American Investment Grade Credit Default Swap Index

LIBOR – London Interbank Offered Rate

PJSC – Public Joint Stock Company

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

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AB Corporate Income Shares    

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.

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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:
Corporates - Investment Grade	$	—		$	247,759,476		$	—	$	247,759,476
Quasi-Sovereigns		—			2,971,378			—		2,971,378
Governments - Sovereign Bonds		—			1,406,539			—		1,406,539
Corporates - Non-Investment Grade		—			1,133,833			—		1,133,833
Total Investments in Securities		—			253,271,226			—		253,271,226
Other Financial Instruments(a):
Assets:
Futures		302,047			—			—		302,047
Centrally Cleared Credit Default Swaps		—			65,148			—		65,148
Centrally Cleared Interest Rate Swaps		—			23,461			—		23,461
Liabilities:
Futures		(536,036	)		—			—		(536,036	)
Centrally Cleared Interest Rate Swaps		—			(48,319	)		—		(48,319	)
Total	$	(233,989	)	$	253,311,516		$	—	$	253,077,527

^(a)  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.

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