Ab Corporate Shares NPORT-P AB Corporate Income Shares (Jan 2023 report)

AB Corporate Income Shares

Portfolio of Investments

January 31, 2023 (unaudited)

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADE – 95.9%
Industrial – 54.4%
Basic – 4.1%
Anglo American Capital PLC 3.875%, 03/16/2029(a)	$	221	$	205,944
5.625%, 04/01/2030(a)		435		445,481
Celanese US Holdings LLC 5.90%, 07/05/2024		165		165,962
6.05%, 03/15/2025		165		166,289
Celulosa Arauco y Constitucion SA 4.25%, 04/30/2029(a)		246		232,747
Dow Chemical Co. (The) 6.90%, 05/15/2053		455		539,694
EIDP, Inc. 1.70%, 07/15/2025		433		404,513
Equate Petrochemical BV 2.625%, 04/28/2028(a)		317		281,694
Freeport Indonesia PT 4.763%, 04/14/2027(a)		240		232,826
5.315%, 04/14/2032(a)		240		227,426
Georgia-Pacific LLC 3.734%, 07/15/2023(a)		828		821,997
Glencore Funding LLC 1.625%, 09/01/2025(a)		521		477,997
4.625%, 04/29/2024(a)		175		173,738
Inversiones CMPC SA 3.85%, 01/13/2030(a)		210		194,355
LyondellBasell Industries NV 4.625%, 02/26/2055		792		682,221
Mosaic Co. (The) 5.625%, 11/15/2043		170		170,753
Sealed Air Corp. 1.573%, 10/15/2026(a)		545		479,360
Westlake Corp. 3.375%, 08/15/2061		710		460,684
				6,363,681
Capital Goods – 3.8%
Caterpillar Financial Services Corp. 0.65%, 07/07/2023		860		844,288
4.90%, 01/17/2025		595		601,152
CNH Industrial Capital LLC 1.95%, 07/02/2023		310		305,675
3.95%, 05/23/2025		177		173,327
5.45%, 10/14/2025		303		308,039
Eaton Corp. 4.70%, 08/23/2052		335		326,250
John Deere Capital Corp. 2.60%, 03/07/2024		385		376,819
4.75%, 01/20/2028		736		751,780
4.85%, 10/11/2029		223		229,920
Johnson Controls International PLC 4.50%, 02/15/2047		440		396,937
Northrop Grumman Corp. 3.25%, 08/01/2023		840		833,918

1

	Principal Amount (000)		U.S. $ Value
Regal Rexnord Corp. 6.30%, 02/15/2030(a)	$	82	$	83,487
6.40%, 04/15/2033(a)		97		99,334
Westinghouse Air Brake Technologies Corp. 4.40%, 03/15/2024		602		594,373
				5,925,299
Communications - Media – 5.2%
Charter Communications Operating LLC/Charter Communications Operating Capital 3.50%, 06/01/2041		495		346,634
3.70%, 04/01/2051		225		148,910
5.125%, 07/01/2049		299		246,678
5.25%, 04/01/2053		300		251,424
5.375%, 05/01/2047		519		442,385
Comcast Corp. 2.937%, 11/01/2056		522		356,594
3.25%, 11/01/2039		558		464,289
Discovery Communications LLC 4.65%, 05/15/2050		59		46,088
5.20%, 09/20/2047		468		390,261
5.30%, 05/15/2049		82		69,338
FactSet Research Systems, Inc. 2.90%, 03/01/2027		515		481,237
Fox Corp. 3.05%, 04/07/2025		23		22,181
5.576%, 01/25/2049		346		334,329
Interpublic Group of Cos., Inc. (The) 3.375%, 03/01/2041		340		258,567
Meta Platforms, Inc. 4.65%, 08/15/2062		515		452,757
Netflix, Inc. 4.875%, 04/15/2028		705		704,401
Paramount Global 4.20%, 05/19/2032		225		193,529
Prosus NV 3.257%, 01/19/2027(a)		237		215,077
3.68%, 01/21/2030(a)		210		180,994
Tencent Holdings Ltd. 2.39%, 06/03/2030(a)		397		333,544
Thomson Reuters Corp. 5.65%, 11/23/2043		220		214,146
Time Warner Cable Enterprises LLC 8.375%, 03/15/2023		967		970,974
Walt Disney Co. (The) 4.00%, 10/01/2023		40		39,702
6.40%, 12/15/2035		161		185,266
8.875%, 04/26/2023		105		105,886
Warnermedia Holdings, Inc. 5.05%, 03/15/2042(a)		305		260,406
Weibo Corp. 3.50%, 07/05/2024		373		360,714
				8,076,311

2

	Principal Amount (000)		U.S. $ Value
Communications - Telecommunications – 0.6%
AT&T, Inc. 3.50%, 09/15/2053	$	179	$	132,369
6.55%, 01/15/2028		100		105,586
Corning, Inc. 4.75%, 03/15/2042		455		433,542
5.45%, 11/15/2079		195		187,777
Rogers Communications, Inc. 4.50%, 03/15/2043		4		3,447
				862,721
Consumer Cyclical - Automotive – 1.6%
General Motors Co. 5.95%, 04/01/2049		115		110,327
General Motors Financial Co., Inc. 4.15%, 06/19/2023		116		115,568
6.05%, 10/10/2025		303		308,760
Harley-Davidson Financial Services, Inc. 3.05%, 02/14/2027(a)		831		760,224
Hyundai Capital America 5.875%, 04/07/2025(a)		160		161,621
Mercedes-Benz Finance North America LLC 5.50%, 11/27/2024(a)		530		537,420
Toyota Motor Credit Corp. 5.45%, 11/10/2027		440		459,180
				2,453,100
Consumer Cyclical - Entertainment – 0.2%
Hasbro, Inc. 5.10%, 05/15/2044		355		316,507
Consumer Cyclical - Other – 0.7%
Las Vegas Sands Corp. 2.90%, 06/25/2025		685		640,735
3.90%, 08/08/2029		390		349,046
MDC Holdings, Inc. 6.00%, 01/15/2043		140		124,172
				1,113,953
Consumer Cyclical - Restaurants – 0.5%
McDonald’s Corp. 3.625%, 09/01/2049		215		175,840
4.45%, 09/01/2048		185		172,207
4.60%, 05/26/2045		280		265,082
4.70%, 12/09/2035		220		220,169
				833,298
Consumer Cyclical - Retailers – 1.6%
AutoNation, Inc. 3.85%, 03/01/2032		515		435,675
AutoZone, Inc. 3.125%, 04/21/2026		795		759,336
Lowe’s Cos., Inc. 5.80%, 09/15/2062		565		587,843

3

	Principal Amount (000)		U.S. $ Value
Ross Stores, Inc. 4.70%, 04/15/2027	$	160	$	159,203
4.80%, 04/15/2030		115		111,486
5.45%, 04/15/2050		175		168,551
Walmart, Inc. 3.95%, 06/28/2038		320		307,434
				2,529,528
Consumer Non-Cyclical – 13.0%
AbbVie, Inc. 4.40%, 11/06/2042		350		323,102
Altria Group, Inc. 3.40%, 05/06/2030		180		159,377
4.00%, 02/04/2061		300		207,402
5.95%, 02/14/2049		180		170,190
AmerisourceBergen Corp. 0.737%, 03/15/2023		277		275,643
4.25%, 03/01/2045		165		145,921
4.30%, 12/15/2047		295		266,125
Amgen, Inc. 4.40%, 02/22/2062		570		488,980
4.875%, 03/01/2053		335		318,099
BAT Capital Corp. 2.259%, 03/25/2028		307		263,870
4.39%, 08/15/2037		323		266,097
4.906%, 04/02/2030		394		372,740
5.65%, 03/16/2052		195		174,153
BAT International Finance PLC 4.448%, 03/16/2028		395		378,181
Baxalta, Inc. 4.00%, 06/23/2025		765		750,802
Baxter International, Inc. 0.868%, 12/01/2023		545		526,623
Biogen, Inc. 4.05%, 09/15/2025		385		378,336
Bristol-Myers Squibb Co. 3.625%, 05/15/2024		833		824,095
3.70%, 03/15/2052		480		405,446
3.90%, 03/15/2062		485		409,927
Cardinal Health, Inc. 4.50%, 11/15/2044		305		263,319
4.90%, 09/15/2045		305		277,385
Cargill, Inc. 3.625%, 04/22/2027(a)		560		544,578
4.375%, 04/22/2052(a)		350		330,039
5.125%, 10/11/2032(a)		166		172,891
Cigna Corp. 3.00%, 07/15/2023		71		70,359
4.80%, 08/15/2038		530		519,008
7.875%, 05/15/2027		53		59,577
CommonSpirit Health 4.35%, 11/01/2042		44		39,009
CVS Health Corp. 5.125%, 07/20/2045		315		303,162
Gilead Sciences, Inc. 0.75%, 09/29/2023		203		197,397
2.80%, 10/01/2050		175		122,276
3.65%, 03/01/2026		781		761,288

4

	Principal Amount (000)		U.S. $ Value
Hershey Co. (The) 0.90%, 06/01/2025	$	898	$	828,387
3.125%, 11/15/2049		245		191,242
Johnson & Johnson 5.85%, 07/15/2038		240		281,513
McKesson Corp. 1.30%, 08/15/2026		926		826,483
Merck & Co., Inc. 2.75%, 02/10/2025		707		685,267
2.90%, 12/10/2061		205		142,805
Molson Coors Brewing Co. 4.20%, 07/15/2046		210		175,808
Mylan, Inc. 4.20%, 11/29/2023		682		676,435
Newell Brands, Inc. 6.375%, 09/15/2027		320		321,728
Ochsner LSU Health System of North Louisiana Series 2021 2.51%, 05/15/2031		264		198,737
PepsiCo, Inc. 0.40%, 10/07/2023		787		763,500
3.90%, 07/18/2032		330		322,440
Philip Morris International, Inc. 5.00%, 11/17/2025		375		380,047
5.625%, 11/17/2029		69		72,066
Pilgrim’s Pride Corp. 3.50%, 03/01/2032(a)		400		325,584
Sysco Corp. 2.45%, 12/14/2031		425		356,222
3.15%, 12/14/2051		460		331,448
6.60%, 04/01/2050		227		263,297
Thermo Fisher Scientific, Inc. 0.797%, 10/18/2023		1,258		1,221,845
Wyeth LLC 5.95%, 04/01/2037		240		272,234
Zimmer Biomet Holdings, Inc. 1.45%, 11/22/2024		803		757,807
				20,160,292
Energy – 4.9%
BP Capital Markets America, Inc. 2.939%, 06/04/2051		485		346,809
3.00%, 02/24/2050		660		481,615
Conocophillips Co. 3.80%, 03/15/2052		405		346,927
Continental Resources, Inc./OK 2.875%, 04/01/2032(a)		304		237,728
4.90%, 06/01/2044		495		394,540
5.75%, 01/15/2031(a)		221		216,940
Ecopetrol SA 5.875%, 09/18/2023		64		63,840
5.875%, 05/28/2045		25		17,903
Enable Midstream Partners LP 5.00%, 05/15/2044		41		36,025
Energy Transfer LP 3.90%, 07/15/2026		440		423,672
5.35%, 05/15/2045		135		123,177

5

	Principal Amount (000)		U.S. $ Value
Eni SpA 5.70%, 10/01/2040(a)	$	420	$	402,326
Enterprise Products Operating LLC 4.80%, 02/01/2049		85		78,911
Exxon Mobil Corp. 4.114%, 03/01/2046		514		468,634
4.327%, 03/19/2050		220		207,148
Flex Intermediate Holdco LLC 3.363%, 06/30/2031(a)		215		175,539
4.317%, 12/30/2039(a)		215		163,826
Kinder Morgan, Inc. 5.55%, 06/01/2045		485		473,423
Marathon Oil Corp. 6.60%, 10/01/2037		305		323,410
MPLX LP 5.20%, 12/01/2047		144		131,505
ONEOK, Inc. 6.10%, 11/15/2032		127		133,396
Pioneer Natural Resources Co. 2.15%, 01/15/2031		560		464,050
Suncor Energy, Inc. 6.50%, 06/15/2038		305		333,203
6.85%, 06/01/2039		215		238,824
Targa Resources Corp. 6.25%, 07/01/2052		495		502,658
Tengizchevroil Finance Co. International Ltd. 3.25%, 08/15/2030(a)		265		199,744
Var Energi ASA 7.50%, 01/15/2028(a)		292		307,639
Western Midstream Operating LP 4.65%, 07/01/2026		81		78,110
5.45%, 04/01/2044		149		131,038
				7,502,560
Services – 3.1%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031		400		328,196
2.70%, 02/09/2041		300		206,820
Amazon.com, Inc. 4.10%, 04/13/2062		280		245,599
4.25%, 08/22/2057		170		155,773
4.55%, 12/01/2027		531		537,807
Block Financial LLC 2.50%, 07/15/2028		430		377,441
Booking Holdings, Inc. 4.625%, 04/13/2030		800		803,728
Global Payments, Inc. 2.90%, 11/15/2031		545		454,465
Mastercard, Inc. 2.00%, 03/03/2025		804		765,199
Moody’s Corp. 5.25%, 07/15/2044		135		137,616
PayPal Holdings, Inc. 5.25%, 06/01/2062		395		389,735

6

	Principal Amount (000)		U.S. $ Value
S&P Global, Inc. 2.90%, 03/01/2032(a)	$	226	$	200,157
4.25%, 05/01/2029(a)		90		88,508
4.75%, 08/01/2028(a)		20		20,252
				4,711,296
Technology – 14.1%
Analog Devices, Inc. 2.95%, 04/01/2025		36		34,910
Apple, Inc. 2.45%, 08/04/2026		782		737,864
2.65%, 05/11/2050		170		120,297
3.25%, 02/23/2026		840		816,085
4.10%, 08/08/2062		345		307,792
4.45%, 05/06/2044		871		869,476
Baidu, Inc. 1.625%, 02/23/2027		435		381,247
3.075%, 04/07/2025		265		252,709
Broadcom, Inc. 3.137%, 11/15/2035(a)		466		361,756
3.187%, 11/15/2036(a)		573		438,030
4.926%, 05/15/2037(a)		452		414,954
CDW LLC/CDW Finance Corp. 2.67%, 12/01/2026		788		709,310
Cisco Systems, Inc. 2.20%, 09/20/2023		773		760,253
Dell International LLC/EMC Corp. 8.35%, 07/15/2046		42		50,752
Entegris Escrow Corp. 4.75%, 04/15/2029(a)		395		370,597
Fidelity National Information Services, Inc. 0.375%, 03/01/2023		1,295		1,290,377
HP, Inc. 4.20%, 04/15/2032		390		348,145
5.50%, 01/15/2033		695		682,692
Infor, Inc. 1.75%, 07/15/2025(a)		95		86,393
Intel Corp. 4.75%, 03/25/2050		454		419,555
5.05%, 08/05/2062		675		631,557
International Business Machines Corp. 4.25%, 05/15/2049		570		504,895
4.50%, 02/06/2026		620		620,632
4.90%, 07/27/2052		660		642,094
KLA Corp. 4.95%, 07/15/2052		500		502,675
5.25%, 07/15/2062		380		393,536
Kyndryl Holdings, Inc. 2.05%, 10/15/2026		1,080		931,241
Lam Research Corp. 3.75%, 03/15/2026		142		139,188
Micron Technology, Inc. 6.75%, 11/01/2029		359		382,209
Microsoft Corp. 2.00%, 08/08/2023		848		835,433
2.40%, 08/08/2026		864		815,115
3.95%, 08/08/2056		225		206,626

7

	Principal Amount (000)		U.S. $ Value
NXP BV/NXP Funding LLC 5.55%, 12/01/2028	$	1,176	$	1,211,445
NXP BV/NXP Funding LLC/NXP USA, Inc. 2.70%, 05/01/2025		24		22,821
Oracle Corp. 2.50%, 04/01/2025		619		590,254
3.60%, 04/01/2040		436		345,517
3.65%, 03/25/2041		233		184,398
3.85%, 04/01/2060		94		67,983
4.00%, 11/15/2047		537		425,911
5.375%, 07/15/2040		143		139,622
6.125%, 07/08/2039		254		267,871
QUALCOMM, Inc. 6.00%, 05/20/2053		585		671,492
SK Hynix, Inc. 2.375%, 01/19/2031(a)		390		293,792
Skyworks Solutions, Inc. 3.00%, 06/01/2031		259		213,403
Take-Two Interactive Software, Inc. 3.30%, 03/28/2024		263		257,766
Texas Instruments, Inc. 4.10%, 08/16/2052		239		227,650
4.60%, 02/15/2028		450		459,171
TSMC Arizona Corp. 4.50%, 04/22/2052		345		338,962
				21,776,453
Transportation - Airlines – 0.1%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(a)		120		118,614
Transportation - Services – 0.9%
ENA Master Trust 4.00%, 05/19/2048(a)		370		289,872
ERAC USA Finance LLC 3.85%, 11/15/2024(a)		711		691,888
Penske Truck Leasing Co. Lp/PTL Finance Corp. 3.90%, 02/01/2024(a)		300		295,002
4.20%, 04/01/2027(a)		117		112,358
				1,389,120
				84,132,733
Financial Institutions – 34.5%
Banking – 23.4%
AIB Group PLC 7.583%, 10/14/2026(a)		455		470,907
Ally Financial, Inc. 8.00%, 11/01/2031		192		210,735
Australia & New Zealand Banking Group Ltd. 4.82%, 02/03/2025(a)		543		543,755
Banco de Credito del Peru S.A. 3.125%, 07/01/2030(a)		274		251,728

8

	Principal Amount (000)		U.S. $ Value
Banco Santander SA 1.722%, 09/14/2027	$	600	$	525,642
Bank of America Corp. 2.592%, 04/29/2031		575		491,625
2.884%, 10/22/2030		450		394,403
3.384%, 04/02/2026		390		377,126
3.846%, 03/08/2037		510		445,031
3.97%, 03/05/2029		520		495,908
3.974%, 02/07/2030		390		369,002
4.271%, 07/23/2029		727		702,987
4.827%, 07/22/2026		495		493,807
6.204%, 11/10/2028		585		616,964
Bank of Ireland Group PLC 6.253%, 09/16/2026(a)		320		324,435
Bank of Nova Scotia (The) 4.75%, 02/02/2026		461		460,751
Barclays PLC 7.385%, 11/02/2028		499		540,562
7.437%, 11/02/2033		275		309,782
BBVA Bancomer SA/Texas 5.875%, 09/13/2034(a)		330		316,759
BNP Paribas SA 2.591%, 01/20/2028(a)		450		408,271
4.625%, 02/25/2031(a) (b)		223		182,842
BPCE SA 5.029%, 01/15/2025(a)		488		487,878
5.975%, 01/18/2027(a)		322		325,954
Capital One Financial Corp. 4.985%, 07/24/2026		335		332,725
5.468%, 02/01/2029		146		146,860
Citigroup, Inc. 2.666%, 01/29/2031		400		344,216
3.875%, 02/18/2026(b)		344		314,000
4.14%, 05/24/2025		345		340,888
Series W 4.00%, 12/10/2025(b)		368		343,248
Series Y 4.15%, 11/15/2026(b)		569		508,544
Credit Suisse Group AG 4.55%, 04/17/2026		790		728,957
6.373%, 07/15/2026(a)		738		716,546
Danske Bank A/S 4.298%, 04/01/2028(a)		250		240,668
6.466%, 01/09/2026(a)		350		355,233
Deutsche Bank AG/New York NY 2.311%, 11/16/2027		910		809,227
6.119%, 07/14/2026		173		175,323
6.72%, 01/18/2029		238		250,445
Discover Bank 4.682%, 08/09/2028		385		373,562
Discover Financial Services 6.70%, 11/29/2032		175		187,010
Goldman Sachs Group, Inc. (The) 1.542%, 09/10/2027		881		777,676
1.948%, 10/21/2027		340		304,256

9

	Principal Amount (000)		U.S. $ Value
Series V 4.125%, 11/10/2026(b)	$	248	$	221,251
HSBC Holdings PLC 2.013%, 09/22/2028		285		246,736
2.206%, 08/17/2029		335		283,758
2.251%, 11/22/2027		355		318,410
3.973%, 05/22/2030		342		315,078
4.583%, 06/19/2029		970		939,765
4.60%, 12/17/2030(b)		267		224,958
4.755%, 06/09/2028		420		412,931
4.762%, 03/29/2033		242		223,109
Intesa Sanpaolo SpA 7.00%, 11/21/2025(a)		224		231,423
JPMorgan Chase & Co. 2.947%, 02/24/2028		405		375,415
3.702%, 05/06/2030		335		311,865
4.323%, 04/26/2028		560		547,758
5.546%, 12/15/2025		765		771,181
8.00%, 04/29/2027		520		592,628
KBC Group NV 5.796%, 01/19/2029(a)		209		212,037
Lloyds Banking Group PLC 7.953%, 11/15/2033		516		589,489
M&T Bank Corp. 3.50%, 09/01/2026(b)		264		222,132
Mitsubishi UFJ Financial Group, Inc. 1.64%, 10/13/2027		828		730,371
2.852%, 01/19/2033		375		314,430
Mizuho Financial Group, Inc. 5.414%, 09/13/2028		560		572,186
Morgan Stanley 2.484%, 09/16/2036		500		386,970
3.62%, 04/17/2025		555		544,938
3.622%, 04/01/2031		125		114,894
4.431%, 01/23/2030		440		428,371
5.123%, 02/01/2029		330		333,571
6.296%, 10/18/2028		595		628,897
6.342%, 10/18/2033		210		230,870
National Australia Bank Ltd. 3.347%, 01/12/2037(a)		665		537,845
Nationwide Building Society 2.972%, 02/16/2028(a)		404		368,125
NatWest Group PLC 7.472%, 11/10/2026		234		247,542
PNC Financial Services Group, Inc. (The) 4.626%, 06/06/2033		245		236,104
5.068%, 01/24/2034		149		150,232
Series O 8.492% (LIBOR 3 Month + 3.68%), 05/01/2023(b) (c)		358		360,592
Santander Holdings USA, Inc. 2.49%, 01/06/2028		213		187,649
4.40%, 07/13/2027		320		311,286
Societe Generale SA 2.797%, 01/19/2028(a)		795		716,414

10

	Principal Amount (000)		U.S. $ Value
Standard Chartered PLC 1.456%, 01/14/2027(a)	$	345	$	307,561
3.971%, 03/30/2026(a)		245		236,856
6.17%, 01/09/2027(a)		287		293,868
State Street Corp. 4.857%, 01/26/2026		289		289,978
Synchrony Bank 5.625%, 08/23/2027		250		248,883
Truist Financial Corp. Series Q 5.10%, 03/01/2030(b)		382		371,896
UBS Group AG 4.703%, 08/05/2027(a)		335		330,541
Wells Fargo & Co. 3.908%, 04/25/2026		553		540,110
Series BB 3.90%, 03/15/2026(b)		805		741,510
Western Union Co. (The) 2.75%, 03/15/2031		490		389,584
Westpac Banking Corp. 3.02%, 11/18/2036		630		493,265
4.11%, 07/24/2034		475		429,058
				36,110,559
Brokerage – 0.9%
Charles Schwab Corp. (The) Series G 5.375%, 06/01/2025(b)		97		96,576
Series I 4.00%, 06/01/2026(b)		595		548,007
Jefferies Financial Group, Inc. 5.50%, 10/18/2023		444		443,623
Nomura Holdings, Inc. 5.709%, 01/09/2026		322		326,263
				1,414,469
Finance – 1.8%
Aircastle Ltd. 2.85%, 01/26/2028(a)		664		578,191
4.25%, 06/15/2026		21		20,244
5.25%, 08/11/2025(a)		210		205,472
Aviation Capital Group LLC 1.95%, 01/30/2026(a)		274		243,592
1.95%, 09/20/2026(a)		391		340,088
3.50%, 11/01/2027(a)		116		103,916
4.375%, 01/30/2024(a)		220		215,930
Synchrony Financial 2.875%, 10/28/2031		368		286,455
3.95%, 12/01/2027		558		516,100
4.875%, 06/13/2025		267		262,004
5.15%, 03/19/2029		57		54,420
				2,826,412
Insurance – 5.6%
ACE Capital Trust II 9.70%, 04/01/2030		345		434,707

11

	Principal Amount (000)		U.S. $ Value
Allstate Corp. (The) Series B 5.75%, 08/15/2053	$	712	$	701,064
Berkshire Hathaway, Inc. 2.75%, 03/15/2023		395		393,989
Guardian Life Insurance Co. of America (The) 3.70%, 01/22/2070(a)		210		152,683
Hartford Financial Services Group, Inc. (The) Series ICON 6.731% (LIBOR 3 Month + 2.12%), 02/12/2047(a) (c)		535		457,345
Humana, Inc. 5.75%, 03/01/2028		264		275,307
Massachusetts Mutual Life Insurance Co. 5.077%, 02/15/2069(a)		170		156,830
MassMutual Global Funding II 0.60%, 04/12/2024(a)		420		399,084
0.85%, 06/09/2023(a)		270		266,080
Met Tower Global Funding 0.70%, 04/05/2024(a)		705		670,631
MetLife Capital Trust IV 7.875%, 12/15/2037(a)		150		165,000
MetLife, Inc. Series D 5.875%, 03/15/2028(b)		170		169,828
Nationwide Mutual Insurance Co. 9.375%, 08/15/2039(a)		120		164,618
New York Life Insurance Co. 4.45%, 05/15/2069(a)		180		159,973
Nippon Life Insurance Co. 2.75%, 01/21/2051(a)		490		414,045
Peachtree Corners Funding Trust 3.976%, 02/15/2025(a)		110		107,139
Prudential Financial, Inc. 5.20%, 03/15/2044		547		536,312
5.375%, 05/15/2045		260		254,935
5.625%, 06/15/2043		689		684,990
Reinsurance Group of America, Inc. 3.15%, 06/15/2030		383		338,897
Swiss Re Finance Luxembourg SA 5.00%, 04/02/2049(a)		400		387,660
UnitedHealth Group, Inc. 4.95%, 05/15/2062		345		347,788
6.05%, 02/15/2063		290		339,196
Voya Financial, Inc. 5.65%, 05/15/2053		690		687,088
				8,665,189
REITs – 2.8%
American Homes 4 Rent LP 4.25%, 02/15/2028		5		4,794
Boston Properties LP 6.75%, 12/01/2027		288		305,081

12

	Principal Amount (000)		U.S. $ Value
Essential Properties LP 2.95%, 07/15/2031	$	454	$	344,277
GLP Capital LP/GLP Financing II, Inc. 5.25%, 06/01/2025		313		310,643
5.375%, 04/15/2026		114		113,882
Kilroy Realty LP 3.45%, 12/15/2024		40		38,690
Office Properties Income Trust 3.45%, 10/15/2031		426		296,637
Public Storage 4.774% (SOFR + 0.47%), 04/23/2024(c)		335		333,985
Realty Income Corp. 4.60%, 02/06/2024		1,016		1,012,078
Regency Centers LP 3.75%, 06/15/2024		33		32,165
SITE Centers Corp. 4.25%, 02/01/2026		178		170,939
4.70%, 06/01/2027		295		283,032
Spirit Realty LP 3.20%, 02/15/2031		385		325,267
4.00%, 07/15/2029		132		118,986
Vornado Realty LP 2.15%, 06/01/2026		425		369,929
3.40%, 06/01/2031		358		277,020
				4,337,405
				53,354,034
Utility – 7.0%
Electric – 6.4%
Abu Dhabi National Energy Co. PJSC 4.375%, 04/23/2025(a)		215		213,495
AEP Texas, Inc. 4.70%, 05/15/2032		404		402,590
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(a)		200		178,038
Alfa Desarrollo SpA 4.55%, 09/27/2051(a)		219		176,301
American Transmission Systems 2.65%, 01/15/2032(a)		455		388,602
CenterPoint Energy, Inc. 4.75% (SOFR + 0.65%), 05/13/2024(c)		310		306,658
Commonwealth Edison Co. 5.30%, 02/01/2053		294		313,689
Series 133 3.85%, 03/15/2052		185		157,333
Consolidated Edison Co. of New York, Inc. 3.60%, 06/15/2061		220		172,383
4.50%, 05/15/2058		290		260,005
Series A 4.125%, 05/15/2049		280		243,079
Duke Energy Carolinas LLC 3.45%, 04/15/2051		400		314,668
Duke Energy Corp. 4.20%, 06/15/2049		218		184,633
Duke Energy Progress LLC 4.00%, 04/01/2052		134		114,766

13

	Principal Amount (000)		U.S. $ Value
Empresas Publicas de Medellin ESP 4.25%, 07/18/2029(a)	$	200	$	163,913
Enel Chile SA 4.875%, 06/12/2028		62		60,810
Enel Finance International NV 7.75%, 10/14/2052(a)		260		308,766
Engie Energia Chile SA 3.40%, 01/28/2030(a)		425		354,822
Fells Point Funding Trust 3.046%, 01/31/2027(a)		261		242,860
Florida Power & Light Co. 3.95%, 03/01/2048		632		558,024
4.347% (SOFR + 0.25%), 05/10/2023(c)		140		139,885
Georgia Power Co. 4.30%, 03/15/2042		340		306,700
4.70%, 05/15/2032		165		164,248
Kentucky Utilities Co. 3.30%, 06/01/2050		52		39,148
National Rural Utilities Cooperative Finance Corp. 3.45%, 06/15/2025		365		355,116
0.35%, 02/08/2024		590		564,193
3.40%, 11/15/2023		265		262,186
NextEra Energy Capital Holdings, Inc. 5.65%, 05/01/2079		404		384,956
Niagara Mohawk Power Corp. 5.783%, 09/16/2052(a)		320		343,837
Public Service Electric and Gas Co. 3.80%, 03/01/2046		385		329,402
Public Service Enterprise Group, Inc. 8.625%, 04/15/2031		248		297,935
San Diego Gas & Electric Co. Series WWW 2.95%, 08/15/2051		215		156,617
Southern California Edison Co. 0.70%, 04/03/2023		400		396,804
Southern Co. (The) 2.95%, 07/01/2023		412		408,374
Southern Power Co. Series F 4.95%, 12/15/2046		77		70,415
Virginia Electric & Power Co. 8.875%, 11/15/2038		233		328,122
WEC Energy Group, Inc. 4.75%, 01/09/2026		301		301,668
				9,965,041
Natural Gas – 0.6%
Atmos Energy Corp. 3.375%, 09/15/2049		325		254,455
GNL Quintero SA 4.634%, 07/31/2029(a)		153		149,710
NiSource, Inc. 5.65%, 02/01/2045		60		62,879

14

	Principal Amount (000)		U.S. $ Value
Piedmont Natural Gas Co., Inc. 5.05%, 05/15/2052	$	435	$	420,454
				887,498
				10,852,539
Total Corporates - Investment Grade (cost $160,319,347)				148,339,306
QUASI-SOVEREIGNS – 1.1%
Quasi-Sovereign Bonds – 1.1%
Chile – 0.4%
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030(a)		350		322,722
4.70%, 05/07/2050(a)		295		264,873
				587,595
Mexico – 0.4%
Comision Federal de Electricidad 3.348%, 02/09/2031(a)		321		262,678
Petroleos Mexicanos 6.50%, 01/23/2029		135		121,912
6.75%, 09/21/2047		112		77,420
6.95%, 01/28/2060		169		115,655
7.69%, 01/23/2050		80		59,740
				637,405
Peru – 0.1%
Corp. Financiera de Desarrollo SA 2.40%, 09/28/2027(a)		250		214,250
Qatar – 0.2%
QatarEnergy 3.125%, 07/12/2041(a)		277		218,882
Total Quasi-Sovereigns (cost $2,008,734)				1,658,132
GOVERNMENTS - SOVEREIGN BONDS – 0.7%
Colombia – 0.4%
Colombia Government International Bond 3.125%, 04/15/2031		562		424,767
5.20%, 05/15/2049		200		140,912
				565,679
Mexico – 0.2%
Mexico Government International Bond 4.60%, 01/23/2046		200		165,500
4.75%, 03/08/2044		120		103,050
				268,550
Peru – 0.0%
Peruvian Government International Bond 2.392%, 01/23/2026		53		49,267

15

	Principal Amount (000)		U.S. $ Value
Qatar – 0.1%
Qatar Government International Bond 4.817%, 03/14/2049(a)	$	228	$	226,860
Uruguay – 0.0%
Uruguay Government International Bond 4.375%, 01/23/2031		54		53,734
Total Governments - Sovereign Bonds (cost $1,404,324)				1,164,090
CORPORATES - NON-INVESTMENT GRADE – 0.7%
Industrial – 0.5%
Consumer Cyclical - Automotive – 0.2%
Ford Motor Credit Co. LLC 3.81%, 01/09/2024		395		387,152
Consumer Non-Cyclical – 0.3%
Perrigo Finance Unlimited Co. 4.375%, 03/15/2026		420		398,605
				785,757
Financial Institutions – 0.2%
REITs – 0.2%
Diversified Healthcare Trust 4.75%, 02/15/2028		407		247,794
Total Corporates - Non-Investment Grade (cost $1,176,375)				1,033,551
Total Investments – 98.4% (cost $164,908,780)(d)				152,195,079
Other assets less liabilities – 1.6%				2,502,629
Net Assets – 100.0%			$	154,697,708

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		40		March 2023		$      4,848,125		$	72,742
U.S. T-Note 5 Yr (CBT) Futures		103		March 2023		11,251,946			118,867
U.S. Ultra Bond (CBT) Futures		41		March 2023		5,811,750			145,095
Sold Contracts
U.S. T-Note 2 Yr (CBT) Futures		34		March 2023		6,992,047			(28,464	)
U.S. T-Note 10 Yr (CBT) Futures		9		March 2023		1,030,641			(14,552	)
								$	293,688

16

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at January 31, 2023	Notional Amount (000)			Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Sale Contracts
CDX-NAIG Series 39, 5 Year Index, 12/20/2027*		1.00	%	Quarterly	0.71%		USD	3,280	$	45,056	$	3,119	$	41,937

* 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	60	11/04/2044		3 Month LIBOR		3.049%		Quarterly/ Semi-Annual	$	(3,968	)	$	—	$	(3,968	)
USD	60	05/05/2045		3 Month LIBOR		2.562%		Quarterly/ Semi-Annual		(8,602	)		—		(8,602	)
USD	60	06/02/2046		3 Month LIBOR		2.186%		Quarterly/ Semi-Annual		(12,317	)		—		(12,317	)
USD	690	07/15/2046		3 Month LIBOR		1.783%		Quarterly/ Semi-Annual		(185,054	)		—		(185,054	)
USD	270	09/02/2046		3 Month LIBOR		1.736%		Quarterly/ Semi-Annual		(74,540	)		—		(74,540	)
USD	50	11/02/2046		3 Month LIBOR		2.086%		Quarterly/ Semi-Annual		(11,211	)		—		(11,211	)
									$	(295,692	)	$	—	$	(295,692	)

(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, 2023, the aggregate market value of these securities amounted to $30,343,211 or 19.6% 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, 2023.

(d) As of January 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,300,949 and gross unrealized depreciation of investments was $(13,974,717), resulting in net unrealized depreciation of $(12,673,768).

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

17

AB Corporate Income Shares

January 31, 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 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.

18

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of January 31, 2023:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Corporates - Investment Grade	$	182,842		$	148,156,464		$	—	$	148,339,306
Quasi-Sovereigns		—			1,658,132			—		1,658,132
Governments - Sovereign Bonds		—			1,164,090			—		1,164,090
Corporates - Non-Investment Grade		—			1,033,551			—		1,033,551
Total Investments in Securities		182,842			152,012,237			—		152,195,079
Other Financial Instruments(a):
Assets:
Futures		336,704			—			—		336,704
Centrally Cleared Credit Default Swaps		—			45,056			—		45,056
Liabilities:
Futures		(43,016	)		—			—		(43,016	)
Centrally Cleared Interest Rate Swaps		—			(295,692	)		—		(295,692	)
Total	$	476,530		$	151,761,601		$	—	$	152,238,131

^(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, written options and written swaptions which are valued at market value.

19