Ab Corporate Shares NPORT-P AB Corporate Income Shares (Jul 2024 report)

AB Corporate Income Shares

Portfolio of Investments

July 31, 2024 (unaudited)

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADE – 97.0%
Industrial – 64.0%
Basic – 3.6%
AngloGold Ashanti Holdings PLC 3.375%, 11/01/2028	$	1,705	$	1,553,306
CF Industries, Inc. 5.15%, 03/15/2034		839		831,189
Ecolab, Inc. 2.70%, 11/01/2026		910		872,654
Glencore Funding LLC 5.338%, 04/04/2027(a)		782		789,382
5.70%, 05/08/2033(a)		590		600,001
6.50%, 10/06/2033(a)		750		801,652
Inversiones CMPC SA 3.85%, 01/13/2030(a)		210		192,938
6.125%, 02/26/2034(a)		207		212,382
Nucor Corp. 3.95%, 05/23/2025		241		238,568
Sherwin-Williams Co. (The) 3.45%, 06/01/2027		1,493		1,442,417
Suzano Austria GmbH 6.00%, 01/15/2029		253		255,125
				7,789,614
Capital Goods – 4.5%
Boeing Co. (The) 2.196%, 02/04/2026		1,477		1,405,292
3.25%, 02/01/2028		105		97,920
3.625%, 02/01/2031		1,169		1,049,563
5.93%, 05/01/2060		545		501,623
6.298%, 05/01/2029(a)		183		189,237
6.528%, 05/01/2034(a)		286		300,220
Caterpillar Financial Services Corp. 5.00%, 05/14/2027		505		511,893
CNH Industrial Capital LLC 3.95%, 05/23/2025		177		174,892
GE Capital International Funding Co. Unlimited Co. 4.418%, 11/15/2035		443		420,119
General Electric Co. 5.875%, 01/14/2038		1,317		1,395,941
John Deere Capital Corp. 4.90%, 06/11/2027		657		663,800
Parker-Hannifin Corp. 3.25%, 06/14/2029		999		937,272
4.25%, 09/15/2027		1,415		1,395,897
Waste Management, Inc. 4.95%, 07/03/2027		843		853,327
				9,896,996
Communications - Media – 4.0%
Charter Communications Operating LLC/Charter Communications Operating Capital 6.384%, 10/23/2035		765		765,237
6.484%, 10/23/2045		936		884,679

1

	Principal Amount (000)		U.S. $ Value
Discovery Communications LLC 5.30%, 05/15/2049	$	82	$	64,025
Meta Platforms, Inc. 5.75%, 05/15/2063		1,304		1,369,474
Paramount Global 4.20%, 05/19/2032		267		226,993
4.375%, 03/15/2043		1,601		1,116,569
5.90%, 10/15/2040		310		262,372
Prosus NV 3.257%, 01/19/2027(a)		237		222,484
3.68%, 01/21/2030(a)		210		187,687
Tencent Holdings Ltd. 2.39%, 06/03/2030(a)		397		348,435
Time Warner Cable LLC 6.55%, 05/01/2037		360		351,209
6.75%, 06/15/2039		175		172,765
Warnermedia Holdings, Inc. 3.755%, 03/15/2027		1,394		1,327,813
4.279%, 03/15/2032		1,607		1,393,896
				8,693,638
Communications - Telecommunications – 0.7%
AT&T, Inc. 6.55%, 01/15/2028		100		104,859
T-Mobile USA, Inc. 2.625%, 04/15/2026		1,465		1,408,890
				1,513,749
Consumer Cyclical - Automotive – 6.7%
American Honda Finance Corp. 4.90%, 03/12/2027		672		677,067
Series G 5.05%, 07/10/2031		606		613,417
Ford Motor Co. 3.25%, 02/12/2032		1,509		1,267,847
Ford Motor Credit Co., LLC 2.70%, 08/10/2026		470		446,650
4.00%, 11/13/2030		626		568,489
6.05%, 03/05/2031		826		838,291
6.125%, 03/08/2034		238		238,305
General Motors Co. 5.15%, 04/01/2038		52		48,912
6.60%, 04/01/2036		522		557,105
General Motors Financial Co., Inc. 2.70%, 06/10/2031		926		784,350
3.10%, 01/12/2032		643		553,282
3.60%, 06/21/2030		540		495,990
5.95%, 04/04/2034		1,114		1,134,854
Harley-Davidson Financial Services, Inc. 5.95%, 06/11/2029(a)		558		566,130
Hyundai Capital America 5.30%, 03/19/2027(a)		385		387,953
5.65%, 06/26/2026(a)		1,125		1,137,082
5.68%, 06/26/2028(a)		566		579,465
5.875%, 04/07/2025(a)		55		55,141

2

	Principal Amount (000)		U.S. $ Value
Mercedes-Benz Finance North America LLC 4.75%, 08/01/2027(a)	$	764	$	766,521
Toyota Motor Credit Corp. 4.65%, 01/05/2029		664		667,161
5.10%, 03/21/2031		772		788,667
5.20%, 05/15/2026		373		376,447
5.55%, 11/20/2030		1,072		1,124,817
				14,673,943
Consumer Cyclical - Entertainment – 0.3%
Mattel, Inc. 3.375%, 04/01/2026(a)		588		569,396
Consumer Cyclical - Other – 1.4%
Las Vegas Sands Corp. 3.90%, 08/08/2029		1,335		1,239,921
Marriott International, Inc./MD Series GG 3.50%, 10/15/2032		1,629		1,451,472
Series R 3.125%, 06/15/2026		482		466,677
				3,158,070
Consumer Cyclical - Restaurants – 1.2%
McDonald’s Corp. 3.50%, 03/01/2027		1,435		1,394,432
6.30%, 10/15/2037		622		689,201
Series G 5.00%, 05/17/2029		549		558,800
				2,642,433
Consumer Cyclical - Retailers – 2.0%
AutoZone, Inc. 5.40%, 07/15/2034		303		306,539
Costco Wholesale Corp. 1.60%, 04/20/2030		1,654		1,420,356
Home Depot, Inc. (The) 5.30%, 06/25/2054		549		547,342
Ross Stores, Inc. 4.70%, 04/15/2027		160		159,581
4.80%, 04/15/2030		115		113,863
5.45%, 04/15/2050		175		165,406
Target Corp. 2.95%, 01/15/2052		1,335		888,456
VF Corp. 2.80%, 04/23/2027		727		676,044
				4,277,587
Consumer Non-Cyclical – 13.5%
AbbVie, Inc. 2.95%, 11/21/2026		1,450		1,399,366
Altria Group, Inc. 2.45%, 02/04/2032		1,740		1,443,887
3.40%, 02/04/2041		462		343,358

3

	Principal Amount (000)		U.S. $ Value
Archer-Daniels-Midland Co. 2.50%, 08/11/2026	$	480	$	459,682
2.90%, 03/01/2032		1,473		1,291,703
3.25%, 03/27/2030		121		112,791
4.50%, 08/15/2033		476		463,010
Bunge Ltd. Finance Corp. 1.63%, 08/17/2025		493		475,430
2.75%, 05/14/2031		1,637		1,436,238
Cargill, Inc. 3.625%, 04/22/2027(a)		560		546,543
4.375%, 04/22/2052(a)		350		303,933
4.875%, 10/10/2025(a)		453		453,489
5.125%, 10/11/2032(a)		166		168,615
Cencora, Inc. 3.45%, 12/15/2027		1,501		1,441,065
Cencosud SA 5.95%, 05/28/2031(a)		650		657,313
Cigna Group (The) 7.875%, 05/15/2027		53		57,070
CVS Health Corp. 2.875%, 06/01/2026		1,468		1,413,625
4.78%, 03/25/2038		1,557		1,427,956
5.125%, 07/20/2045		505		454,894
5.70%, 06/01/2034		133		135,721
General Mills, Inc. 4.70%, 01/30/2027		304		303,501
HCA, Inc. 5.25%, 04/15/2025		67		66,831
Imperial Brands Finance PLC 5.875%, 07/01/2034(a)		873		876,457
McKesson Corp. 1.30%, 08/15/2026		926		864,440
Medtronic Global Holdings SCA 4.25%, 03/30/2028		1,409		1,396,037
PepsiCo, Inc. 1.625%, 05/01/2030		1,657		1,420,347
Philip Morris International, Inc. 0.875%, 05/01/2026		767		716,907
5.00%, 11/17/2025		375		375,240
5.25%, 02/13/2034		875		881,510
5.375%, 02/15/2033		960		978,797
6.375%, 05/16/2038		86		95,229
Pilgrim’s Pride Corp. 3.50%, 03/01/2032		1,351		1,172,465
6.25%, 07/01/2033		1,062		1,103,057
Roche Holdings, Inc. 4.909%, 03/08/2031(a)		774		787,181
Stryker Corp. 3.50%, 03/15/2026		692		678,430
Sysco Corp. 3.30%, 07/15/2026		1,451		1,410,314
3.75%, 10/01/2025		459		452,051
Tyson Foods, Inc. 4.00%, 03/01/2026		1,404		1,382,449
				29,446,932

4

	Principal Amount (000)		U.S. $ Value
Energy – 9.7%
Apache Corp. 5.10%, 09/01/2040	$	1,613	$	1,414,069
BP Capital Markets America, Inc. 5.017%, 11/17/2027		657		666,283
ConocoPhillips Co. 5.05%, 09/15/2033		1,356		1,374,347
5.30%, 05/15/2053		1,182		1,151,824
Continental Resources, Inc./OK 2.875%, 04/01/2032(a)		384		318,943
5.75%, 01/15/2031(a)		1,261		1,266,788
Devon Energy Corp. 5.60%, 07/15/2041		1,077		1,031,561
Diamondback Energy, Inc. 3.25%, 12/01/2026		1,463		1,414,487
5.20%, 04/18/2027		847		855,919
5.90%, 04/18/2064		112		111,471
Energy Transfer LP 5.60%, 09/01/2034		876		890,664
EQT Corp. 3.125%, 05/15/2026(a)		492		474,342
Hess Corp. 4.30%, 04/01/2027		1,414		1,395,590
Marathon Oil Corp. 5.70%, 04/01/2034		447		465,644
6.60%, 10/01/2037		1,211		1,345,893
Occidental Petroleum Corp. 5.20%, 08/01/2029		319		322,037
5.375%, 01/01/2032		334		337,904
ONEOK Partners LP 6.65%, 10/01/2036		645		706,333
Pioneer Natural Resources Co. 5.10%, 03/29/2026		1,411		1,418,422
Plains All American Pipeline LP/PAA Finance Corp. 5.70%, 09/15/2034		768		780,127
Saudi Arabian Oil Co. 5.75%, 07/17/2054(a)		257		249,933
5.875%, 07/17/2064(a)		545		531,446
Suncor Energy, Inc. 6.80%, 05/15/2038		945		1,050,339
6.85%, 06/01/2039		181		201,808
Var Energi ASA 8.00%, 11/15/2032(a)		1,300		1,486,849
				21,263,023
Services – 3.2%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031		400		338,772
2.70%, 02/09/2041		300		207,594
Amazon.com, Inc. 3.25%, 05/12/2061		2,087		1,434,980
Booking Holdings, Inc. 3.55%, 03/15/2028		1,151		1,113,086
Mastercard, Inc. 2.95%, 11/21/2026		677		653,887
3.35%, 03/26/2030		1,532		1,451,631

5

	Principal Amount (000)		U.S. $ Value
Moody’s Corp. 5.00%, 08/05/2034	$	366	$	365,996
S&P Global, Inc. 2.45%, 03/01/2027		1,482		1,405,173
4.75%, 08/01/2028		20		20,159
				6,991,278
Technology – 11.0%
Alphabet, Inc. 1.998%, 08/15/2026		925		881,849
Apple, Inc. 2.85%, 08/05/2061		1,172		751,369
3.95%, 08/08/2052		1,630		1,368,320
4.10%, 08/08/2062		1,699		1,424,510
Applied Materials, Inc. 4.80%, 06/15/2029		467		474,528
Autodesk, Inc. 2.85%, 01/15/2030		1,231		1,121,466
Broadcom Corp./Broadcom Cayman Finance Ltd. 3.875%, 01/15/2027		1,427		1,398,917
Broadcom, Inc. 5.05%, 07/12/2027		413		416,775
CDW LLC/CDW Finance Corp. 2.67%, 12/01/2026		1,280		1,212,608
3.276%, 12/01/2028		859		796,001
Honeywell International, Inc. 4.65%, 07/30/2027		1,092		1,096,630
Infor, Inc. 1.75%, 07/15/2025(a)		95		91,498
Jabil, Inc. 3.00%, 01/15/2031		540		469,357
3.95%, 01/12/2028		584		562,643
Lam Research Corp. 1.90%, 06/15/2030		1,676		1,448,600
Microsoft Corp. 2.675%, 06/01/2060		791		498,725
3.041%, 03/17/2062		2,022		1,379,813
4.50%, 02/06/2057		1,458		1,372,794
NXP BV/NXP Funding LLC 5.55%, 12/01/2028		1,124		1,153,606
NXP BV/NXP Funding LLC/NXP USA, Inc. 2.70%, 05/01/2025		24		23,525
Oracle Corp. 2.50%, 04/01/2025		259		254,014
3.85%, 07/15/2036		1,634		1,413,198
QUALCOMM, Inc. 1.30%, 05/20/2028		1,582		1,410,068
SK Hynix, Inc. 2.375%, 01/19/2031(a)		390		327,729
Tyco Electronics Group SA 4.625%, 02/01/2030		874		874,481
VMware LLC 1.40%, 08/15/2026		1,537		1,433,790
3.90%, 08/21/2027		436		423,805
				24,080,619

6

	Principal Amount (000)		U.S. $ Value
Transportation - Airlines – 0.8%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(a)	$	1,024	$	1,016,711
4.75%, 10/20/2028(a)		812		802,635
				1,819,346
Transportation - Services – 1.4%
ENA Master Trust 4.00%, 05/19/2048(a)		370		263,858
ERAC USA Finance LLC 5.40%, 05/01/2053(a)		675		668,480
7.00%, 10/15/2037(a)		821		956,473
TTX Co. 5.50%, 09/25/2026(a)		1,105		1,115,928
				3,004,739
				139,821,363
Financial Institutions – 28.6%
Banking – 24.0%
ABN AMRO Bank NV 3.324%, 03/13/2037(a)		600		503,574
AIB Group PLC 5.871%, 03/28/2035(a)		778		797,108
Ally Financial, Inc. 6.848%, 01/03/2030		256		268,132
6.992%, 06/13/2029		430		452,063
8.00%, 11/01/2031		835		940,452
American Express Co. 5.645%, 04/23/2027		756		764,286
Banco Bilbao Vizcaya Argentaria SA 5.862%, 09/14/2026		200		201,062
7.883%, 11/15/2034		200		224,100
Banco de Credito del Peru SA 3.125%, 07/01/2030(a)		274		265,657
Banco Santander SA 1.722%, 09/14/2027		600		557,274
5.365%, 07/15/2028		400		403,488
6.921%, 08/08/2033		1,000		1,070,570
9.625%, 05/21/2033(b)		200		228,276
Bank of America Corp. 2.972%, 02/04/2033		666		576,922
3.384%, 04/02/2026		390		384,754
3.846%, 03/08/2037		1,605		1,440,873
Series N 1.658%, 03/11/2027		1,368		1,295,551
Bank of Ireland Group PLC 5.601%, 03/20/2030(a)		332		337,013
Bank of New York Mellon Corp. (The) 5.606%, 07/21/2039		280		283,380
Barclays PLC 5.088%, 06/20/2030		490		479,063
5.674%, 03/12/2028		287		290,742
7.119%, 06/27/2034		1,275		1,376,197

7

	Principal Amount (000)		U.S. $ Value
BBVA Bancomer SA/Texas 5.875%, 09/13/2034(a)	$	330	$	311,616
BNP Paribas SA 4.625%, 02/25/2031(a) (b)		434		362,794
CaixaBank SA 6.037%, 06/15/2035(a)		894		922,483
6.84%, 09/13/2034(a)		390		423,618
Capital One Financial Corp. 5.463%, 07/26/2030		763		770,035
Citibank NA 4.838%, 08/06/2029		601		604,149
Citigroup, Inc. 2.561%, 05/01/2032		886		755,510
3.52%, 10/27/2028		1,293		1,239,121
Series VAR 3.07%, 02/24/2028		1,362		1,302,072
Series W 4.00%, 12/10/2025(b)		368		352,522
Series X 3.875%, 02/18/2026(b)		344		326,298
Credit Agricole SA 4.00%, 01/10/2033(a)		1,343		1,269,135
Danske Bank A/S 7.00%, 06/26/2025(a) (b)		330		330,594
Deutsche Bank AG/New York NY 7.079%, 02/10/2034		1,098		1,139,680
DNB Bank ASA 4.875%, 11/12/2024(a) (b)		331		328,560
Goldman Sachs Bank USA/New York NY 5.414%, 05/21/2027		767		772,331
Goldman Sachs Group, Inc. (The) 1.542%, 09/10/2027		881		819,603
1.948%, 10/21/2027		340		318,101
Series P 8.461% (CME Term SOFR 3 Month + 3.14%), 09/03/2024(b) (c)		459		459,656
HSBC Holdings PLC 5.733%, 05/17/2032		1,092		1,118,699
Intesa Sanpaolo SpA 6.625%, 06/20/2033(a)		368		389,763
7.20%, 11/28/2033(a)		422		464,327
7.778%, 06/20/2054(a)		935		1,006,359
JPMorgan Chase & Co. 1.04%, 02/04/2027		1,516		1,427,435
1.578%, 04/22/2027		1,511		1,425,523
2.956%, 05/13/2031		848		755,780
2.963%, 01/25/2033		808		703,687
4.979%, 07/22/2028		329		330,675
5.04%, 01/23/2028		890		893,774
5.766%, 04/22/2035		410		429,397
KeyCorp 2.25%, 04/06/2027		1,528		1,412,071
Lloyds Banking Group PLC 7.50%, 09/27/2025(b)		287		288,105

8

	Principal Amount (000)		U.S. $ Value
M&T Bank Corp. 6.082%, 03/13/2032	$	449	$	458,034
7.413%, 10/30/2029		833		895,050
Mizuho Financial Group, Inc. 5.382%, 07/10/2030		652		664,179
Morgan Stanley 4.679%, 07/17/2026		1,381		1,372,576
5.042%, 07/19/2030		439		442,363
5.652%, 04/13/2028		1,077		1,096,860
Morgan Stanley Bank NA Series B 5.504%, 05/26/2028		1,094		1,111,843
Nationwide Building Society 2.972%, 02/16/2028(a)		404		383,343
NatWest Group PLC 3.032%, 11/28/2035		367		317,488
8.125%, 11/10/2033(b)		256		264,835
Nordea Bank Abp 6.625%, 03/26/2026(a) (b)		335		333,807
Royal Bank of Canada Series G 5.069%, 07/23/2027		549		550,921
Societe Generale SA 5.519%, 01/19/2028(a)		884		885,317
7.367%, 01/10/2053(a)		1,103		1,116,490
Standard Chartered PLC 3.971%, 03/30/2026(a)		245		242,462
6.187%, 07/06/2027(a)		369		375,266
Sumitomo Mitsui Financial Group, Inc. 5.316%, 07/09/2029		680		694,355
Svenska Handelsbanken AB 4.375%, 03/01/2027(a) (b)		400		375,244
Swedbank AB Series NC5 5.625%, 09/17/2024(a) (b)		800		799,264
Synchrony Financial 5.935%, 08/02/2030		219		220,397
Truist Financial Corp. 1.267%, 03/02/2027		1,331		1,251,273
UBS Group AG 1.364%, 01/30/2027(a)		528		497,951
6.373%, 07/15/2026(a)		738		744,546
9.25%, 11/13/2028(a) (b)		273		296,180
Wells Fargo & Co. 5.707%, 04/22/2028		569		580,050
				52,564,104
Brokerage – 0.5%
Charles Schwab Corp. (The) Series I 4.00%, 06/01/2026(b)		595		555,533
Nomura Holdings, Inc. 5.783%, 07/03/2034		435		447,176
				1,002,709

9

	Principal Amount (000)		U.S. $ Value
Insurance – 2.7%
Allstate Corp. (The) Series B 8.522% (CME Term SOFR 3 Month + 3.20%), 08/15/2053(c)	$	712	$	712,221
Athene Global Funding 1.985%, 08/19/2028(a)		292		258,540
2.55%, 11/19/2030(a)		73		62,434
2.717%, 01/07/2029(a)		118		107,090
5.526%, 07/11/2031(a)		199		201,728
5.583%, 01/09/2029(a)		46		46,908
5.684%, 02/23/2026(a)		925		931,891
Elevance Health, Inc. 5.15%, 06/15/2029		199		202,948
Hartford Financial Services Group, Inc. (The) Series ICON 7.709% (CME Term SOFR 3 Month + 2.39%), 02/12/2047(a) (c)		535		482,490
MetLife, Inc. Series D 5.875%, 03/15/2028(b)		170		169,738
Nationwide Mutual Insurance Co. 9.375%, 08/15/2039(a)		120		155,434
Prudential Financial, Inc. 5.375%, 05/15/2045		260		256,810
6.50%, 03/15/2054		1,359		1,386,194
Swiss Re Finance Luxembourg SA 5.00%, 04/02/2049(a)		200		194,034
UnitedHealth Group, Inc. 5.75%, 07/15/2064		764		784,773
				5,953,233
REITs – 1.4%
Essential Properties LP 2.95%, 07/15/2031		454		383,149
GLP Capital LP/GLP Financing II, Inc. 3.25%, 01/15/2032		139		119,376
4.00%, 01/15/2030		435		406,281
5.375%, 04/15/2026		1,414		1,412,346
Trust Fibra Uno 7.375%, 02/13/2034(a)		358		356,926
Vornado Realty LP 2.15%, 06/01/2026		425		398,845
				3,076,923
				62,596,969
Utility – 4.4%
Electric – 4.3%
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(a)		193		170,346
Alexander Funding Trust II 7.467%, 07/31/2028(a)		640		684,602

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	Principal Amount (000)		U.S. $ Value
Alfa Desarrollo SpA 4.55%, 09/27/2051(a)	$	218	$	164,381
American Electric Power Co., Inc. 6.95%, 12/15/2054		270		273,937
Commonwealth Edison Co. 5.65%, 06/01/2054		762		780,219
DTE Energy Co. 4.95%, 07/01/2027		655		657,967
Empresas Publicas de Medellin ESP 4.25%, 07/18/2029(a)		200		174,358
Enel Chile SA 4.875%, 06/12/2028		62		60,741
Enel Finance International NV 5.50%, 06/26/2034(a)		765		766,392
Engie Energia Chile SA 6.375%, 04/17/2034(a)		663		677,089
Entergy Louisiana LLC 5.70%, 03/15/2054		778		788,386
Fells Point Funding Trust 3.046%, 01/31/2027(a)		261		248,903
NextEra Energy Capital Holdings, Inc. 6.70%, 09/01/2054		91		92,604
Niagara Mohawk Power Corp. 2.759%, 01/10/2032(a)		556		470,415
Pacific Gas and Electric Co. 5.55%, 05/15/2029		182		185,780
5.80%, 05/15/2034		667		679,626
Public Service Electric & Gas Co. 5.45%, 03/01/2054		887		901,449
Public Service Enterprise Group, Inc. 8.625%, 04/15/2031		248		288,932
Vistra Operations Co., LLC 6.00%, 04/15/2034(a)		45		46,243
6.95%, 10/15/2033(a)		1,297		1,412,148
				9,524,518
Natural Gas – 0.1%
GNL Quintero SA 4.634%, 07/31/2029(a)		118		115,150
				9,639,668
Total Corporates - Investment Grade (cost $209,706,434)				212,058,000
QUASI-SOVEREIGNS – 0.9%
Quasi-Sovereign Bonds – 0.9%
Chile – 0.2%
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030(a)		350		320,324
4.70%, 05/07/2050(a)		295		244,620
				564,944

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	Principal Amount (000)		U.S. $ Value
Mexico – 0.3%
Comision Federal de Electricidad 3.348%, 02/09/2031(a)	$	321	$	269,480
Petroleos Mexicanos 6.50%, 01/23/2029		135		123,113
6.75%, 09/21/2047		112		75,740
6.95%, 01/28/2060		169		113,551
7.69%, 01/23/2050		80		58,860
				640,744
Peru – 0.3%
Corp. Financiera de Desarrollo SA 2.40%, 09/28/2027(a)		250		228,625
5.95%, 04/30/2029(a)		432		437,400
				666,025
Qatar – 0.1%
QatarEnergy 3.125%, 07/12/2041(a)		277		209,913
Total Quasi-Sovereigns (cost $2,435,624)				2,081,626
GOVERNMENTS - SOVEREIGN BONDS – 0.5%
Colombia – 0.3%
Colombia Government International Bond 3.125%, 04/15/2031		562		451,005
5.20%, 05/15/2049		200		143,100
				594,105
Mexico – 0.1%
Mexico Government International Bond 4.60%, 01/23/2046		200		158,187
4.75%, 03/08/2044		120		98,460
				256,647
Qatar – 0.1%
Qatar Government International Bond 4.817%, 03/14/2049(a)		228		216,244
Uruguay – 0.0%
Uruguay Government International Bond 4.375%, 01/23/2031		54		53,121
Total Governments - Sovereign Bonds (cost $1,349,838)				1,120,117
EMERGING MARKETS - CORPORATE BONDS – 0.0%
Industrial – 0.0%
Energy – 0.0%
Ecopetrol SA 5.875%, 05/28/2045 (cost $22,009)		25		18,050
Total Investments – 98.4% (cost $213,513,905)(d)				215,277,793
Other assets less liabilities – 1.6%				3,411,999
Net Assets – 100.0%			$	218,689,792

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FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. T-Note 5 Yr (CBT) Futures		16		September 2024		$	1,726,250		$	9,948
U.S. T-Note 10 Yr (CBT) Futures		30		September 2024			3,354,375			83,863
U.S. Ultra Bond (CBT) Futures		191		September 2024			24,442,031			1,009,439
Sold Contracts
U.S. 10 Yr Ultra Futures		49		September 2024			5,663,328			(150,305	)
U.S. T-Note 2 Yr (CBT) Futures		125		September 2024			25,670,899			(142,294	)
									$	810,651

(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 July 31, 2024, the aggregate market value of these securities amounted to $44,687,829 or 20.4% 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 July 31, 2024.

(d) As of July 31, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $5,023,708 and gross unrealized depreciation of investments was $(2,449,169), resulting in net unrealized appreciation of $2,574,539.

Glossary:

CBT – Chicago Board of Trade

CME – Chicago Mercantile Exchange

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

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AB Corporate Income Shares

July 31, 2024 (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.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of July 31, 2024:

Investments in Securities:	Level 1			Level 2		Level 3		Total
Assets:
Corporates - Investment Grade	$	—		$	212,058,000	$	—	$	212,058,000
Quasi-Sovereigns		—			2,081,626		—		2,081,626
Governments - Sovereign Bonds		—			1,120,117		—		1,120,117
Emerging Markets - Corporate Bonds		—			18,050		—		18,050
Total Investments in Securities		—			215,277,793		—		215,277,793
Other Financial Instruments(a):
Assets:
Futures		1,103,250			—		—		1,103,250
Liabilities:
Futures		(292,599	)		—		—		(292,599	)
Total	$	810,651		$	215,277,793	$	—	$	216,088,444

^(a)  Other financial instruments include reverse repurchase agreements and derivative instruments, such as futures, forwards and swaps. Derivative instruments 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.

14