Bernstein Fund NPORT-P International Small Cap Portfolio (Jun 2022 report)

Bernstein Fund, Inc.

Schedule of Investments

International Small Cap Portfolio

June 30, 2022 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 97.2%
Industrials – 19.0%
Aerospace & Defense – 2.2%
Babcock International Group PLC(a)		1,431,128	$	5,402,576
Saab AB - Class B		458,606		18,964,459
				24,367,035
Air Freight & Logistics – 0.2%
Cia de Distribucion Integral Logista Holdings SA		144,330		2,828,202
Airlines – 0.5%
Wizz Air Holdings PLC(a) (b)		237,496		5,107,495
Building Products – 1.0%
Bunka Shutter Co., Ltd.		316,800		2,330,616
Fletcher Building Ltd.		1,526,150		4,791,400
Inwido AB		182,380		2,010,510
Uponor Oyj		139,389		1,934,412
				11,066,938
Commercial Services & Supplies – 1.6%
Altech Corp.		150,200		1,973,758
Biffa PLC(b)		1,976,282		9,016,671
Downer EDI Ltd.		2,133,090		7,442,786
				18,433,215
Construction & Engineering – 1.4%
Balfour Beatty PLC		2,289,174		7,083,568
Hazama Ando Corp.		1,051,900		6,528,952
Veidekke ASA		212,600		1,939,675
				15,552,195
Electrical Equipment – 2.3%
Fuji Electric Co., Ltd.		255,100		10,546,809
Luceco PLC(b)		706,740		884,062
Nexans SA		113,605		8,850,882
TKH Group NV		155,399		5,854,437
				26,136,190
Industrial Conglomerates – 0.4%
Bidvest Group Ltd. (The)		245,822		3,166,920
Chargeurs SA		87,060		1,354,029
				4,520,949
Machinery – 4.8%
Amada Co., Ltd.		1,242,500		9,160,087
ANDRITZ AG		62,810		2,535,407
ATS Automation Tooling Systems, Inc.(a)		499,274		13,711,417
Deutz AG		947,570		3,681,611
Duerr AG		209,095		4,848,359
Ebara Corp.		68,000		2,540,993
IMI PLC		162,810		2,335,133
Morgan Advanced Materials PLC		586,590		1,963,655
Nabtesco Corp.		290,800		6,823,672
Turk Traktor ve Ziraat Makineleri AS		117,500		1,537,692
Valmet Oyj		94,760		2,335,201

1

Company	Shares		U.S. $ Value
YAMABIKO Corp.		276,800	$	2,338,933
				53,812,160
Marine – 0.2%
ZIM Integrated Shipping Services Ltd.		43,660		2,062,062
Professional Services – 1.5%
BayCurrent Consulting, Inc.		10,000		2,673,521
Danel Adir Yeoshua Ltd.		19,500		2,470,364
NICE Information Service Co., Ltd.		108,024		1,201,964
Teleperformance		20,780		6,416,533
UT Group Co., Ltd.		261,900		4,343,635
				17,106,017
Road & Rail – 0.3%
Redde Northgate PLC		461,870		1,897,261
Senko Group Holdings Co., Ltd.		313,900		2,033,617
				3,930,878
Trading Companies & Distributors – 1.5%
AerCap Holdings NV(a)		121,998		4,994,598
Howden Joinery Group PLC		305,640		2,253,011
Inaba Denki Sangyo Co., Ltd.		137,400		2,696,134
Russel Metals, Inc.		105,225		2,127,062
Solar A/S		22,292		1,913,570
Yuasa Trading Co., Ltd.		114,500		2,830,579
				16,814,954
Transportation Infrastructure – 1.1%
Anhui Expressway Co., Ltd.		2,956,000		2,388,697
Grupo Aeroportuario del Centro Norte SAB de CV		1,128,772		7,210,624
Sumitomo Warehouse Co., Ltd. (The)		168,800		2,498,938
				12,098,259
				213,836,549
Consumer Discretionary – 13.7%
Auto Components – 2.8%
Faurecia SE(a)		395,578		7,927,530
Mahle-Metal Leve SA		427,600		1,894,743
Nexteer Automotive Group Ltd.		6,316,000		4,563,113
NGK Spark Plug Co., Ltd.		168,600		3,058,326
Schaeffler AG (Preference Shares)		411,700		2,339,909
Toyo Tire Corp.		672,794		8,409,861
Tube Investments of India Ltd.		118,048		2,772,340
				30,965,822
Automobiles – 0.4%
Piaggio & C SpA		1,984,869		4,657,825
Diversified Consumer Services – 0.7%
Benesse Holdings, Inc.		464,800		7,521,357
Hotels, Restaurants & Leisure – 3.1%
Entain PLC(a)		459,752		6,996,351
Jollibee Foods Corp.		1,940,650		7,190,384
Jumbo Interactive Ltd.		251,460		2,473,501
KFC Holdings Japan Ltd.		114,300		2,395,826

2

Company	Shares		U.S. $ Value
Kindred Group PLC (SDR)		792,369	$	6,594,140
LeoVegas AB(b)		244,840		1,451,202
Tongcheng Travel Holdings Ltd.(a)		3,808,400		8,234,247
				35,335,651
Household Durables – 1.1%
Ki-Star Real Estate Co., Ltd.		181,500		6,292,614
Redrow PLC		921,881		5,503,919
Vistry Group PLC		114,260		1,163,774
				12,960,307
Leisure Products – 0.9%
Beneteau SA		178,850		1,815,865
BRP, Inc.		108,845		6,698,804
MIPS AB(b)		30,464		1,337,773
				9,852,442
Multiline Retail – 0.2%
Europris ASA(b)		429,414		2,015,707
Specialty Retail – 1.3%
Clas Ohlson AB - Class B		245,800		2,548,472
Delek Automotive Systems Ltd.		205,270		2,241,315
EDION Corp.		310,800		2,918,435
Kohnan Shoji Co., Ltd.		99,500		2,687,356
Mobilezone Holding AG		81,487		1,424,423
Motus Holdings Ltd.		145,610		957,681
Sleep Country Canada Holdings, Inc.(b)		108,970		2,033,452
				14,811,134
Textiles, Apparel & Luxury Goods – 3.2%
Asics Corp.		561,500		10,170,046
Delta Galil Industries Ltd.		23,260		1,147,225
Handsome Co., Ltd.		76,556		1,816,796
HUGO BOSS AG		217,223		11,502,709
JNBY Design Ltd.(b)		1,194,500		1,370,269
Marimekko Oyj		177,880		2,307,781
New Wave Group AB		183,790		2,457,640
Pandora A/S		87,744		5,574,592
				36,347,058
				154,467,303
Information Technology – 11.9%
Communications Equipment – 0.7%
Sterlite Technologies Ltd.		2,860,052		5,361,093
VTech Holdings Ltd.		282,700		2,226,271
				7,587,364
Electronic Equipment, Instruments & Components – 3.9%
Anritsu Corp.		201,200		2,178,307
E Ink Holdings, Inc.		3,587,000		22,903,943
Horiba Ltd.		135,400		5,776,072
Kaga Electronics Co., Ltd.		95,600		2,137,864
SOLUM Co., Ltd.(a)		235,823		3,535,966
Test Research, Inc.		1,133,000		2,269,628

3

Company	Shares		U.S. $ Value
Tong Hsing Electronic Industries Ltd.		853,000	$	5,783,445
				44,585,225
IT Services – 1.3%
BIPROGY, Inc.		85,739		1,709,747
Computacenter PLC		88,353		2,530,178
Data#3 Ltd.		671,466		2,160,951
NEC Networks & System Integration Corp.		417,700		5,657,497
NSD Co., Ltd.		58,700		1,025,401
Sonata Software Ltd.		247,343		2,100,629
				15,184,403
Semiconductors & Semiconductor Equipment – 4.5%
ASM International NV		35,476		8,826,683
ASPEED Technology, Inc.		33,000		2,118,182
BE Semiconductor Industries NV		22,413		1,070,987
Elan Microelectronics Corp.		469,000		2,203,011
Elite Semiconductor Microelectronics Technology, Inc.		337,000		1,008,666
Himax Technologies, Inc. (ADR)		607,023		4,540,532
LX Semicon Co., Ltd.		26,833		1,991,414
Melexis NV		31,230		2,246,070
Optorun Co., Ltd.		228,300		3,030,900
Phison Electronics Corp.		137,000		1,256,117
Pixart Imaging, Inc.		310,000		1,013,799
Rorze Corp.		91,900		5,765,300
Sanken Electric Co., Ltd.		150,600		5,245,165
SCREEN Holdings Co., Ltd.		25,700		1,743,806
Sino-American Silicon Products, Inc.		451,000		2,150,124
Sitronix Technology Corp.		163,000		1,100,562
Tokyo Seimitsu Co., Ltd.		58,800		1,938,192
u-blox Holding AG(a)		30,960		3,143,117
				50,392,627
Software – 0.6%
Hilan Ltd.		47,720		2,524,129
Iress Ltd.		379,170		3,012,603
Magic Software Enterprises Ltd.		52,859		929,159
				6,465,891
Technology Hardware, Storage & Peripherals – 0.9%
Asia Vital Components Co., Ltd.		2,316,000		7,265,750
Gigabyte Technology Co., Ltd.		239,000		713,974
Konica Minolta, Inc.		621,700		2,072,053
				10,051,777
				134,267,287
Financials – 10.8%
Banks – 4.5%
Aozora Bank Ltd.		68,800		1,338,907
Bank of Ireland Group PLC		1,672,646		10,572,097
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT		29,172,000		2,693,439
Bank Pembangunan Daerah Jawa Timur Tbk PT		47,991,500		2,383,871
Bankinter SA		536,158		3,353,591
BAWAG Group AG(b)		162,574		6,862,993
BNK Financial Group, Inc.		438,540		2,275,214

4

Company	Shares		U.S. $ Value
Close Brothers Group PLC		154,680	$	1,944,410
Kiatnakin Phatra Bank PCL		1,416,200		2,483,507
National Bank of Greece SA(a)		806,600		2,413,002
Seven Bank Ltd.		660,900		1,262,135
Spar Nord Bank A/S		203,170		2,157,436
SpareBank 1 SMN		199,682		2,357,981
Sydbank AS		82,108		2,527,405
Virgin Money UK PLC		2,691,059		4,311,945
Yapi ve Kredi Bankasi AS		8,126,580		2,108,176
				51,046,109
Capital Markets – 2.9%
Azimut Holding SpA		465,644		8,104,987
Banca Generali SpA		74,870		2,119,798
IG Group Holdings PLC		1,080,212		9,117,047
Intermediate Capital Group PLC		523,670		8,372,202
Man Group PLC/Jersey		926,456		2,828,222
Polar Capital Holdings PLC		279,320		1,726,741
				32,268,997
Consumer Finance – 0.9%
Jaccs Co., Ltd.		119,300		2,954,943
Shriram Transport Finance Co., Ltd.		342,671		5,541,367
Sun Hung Kai & Co., Ltd.		4,246,000		1,985,882
				10,482,192
Diversified Financial Services – 0.3%
REC Ltd.		914,057		1,437,013
Svolder AB		325,750		1,666,402
				3,103,415
Insurance – 1.6%
Beazley PLC		1,669,811		10,181,583
Coface SA(a)		220,592		2,317,106
Protector Forsikring ASA		212,800		2,212,323
Topdanmark AS		52,639		2,739,656
				17,450,668
Thrifts & Mortgage Finance – 0.6%
Home Capital Group, Inc.		355,457		6,726,952
				121,078,333
Materials – 10.0%
Chemicals – 4.2%
Chambal Fertilizers and Chemicals Ltd.		468,409		1,583,336
China General Plastics Corp.		1,503,224		1,547,997
Dongjin Semichem Co., Ltd.		79,540		1,976,538
Elkem ASA(b)		689,240		2,213,915
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.		1,263,889		9,187,993
Hansol Chemical Co., Ltd.		29,811		4,713,480
Incitec Pivot Ltd.		3,222,174		7,415,201
Nantex Industry Co., Ltd.		633,597		910,697
Polyplex Corp. Ltd.		76,751		2,143,679
Synthomer PLC		489,350		1,342,370
Tosoh Corp.		509,900		6,342,505
Wacker Chemie AG		16,930		2,455,220

5

Company	Shares		U.S. $ Value
Zeon Corp.		539,700	$	5,235,408
				47,068,339
Construction Materials – 0.3%
CSR Ltd.		660,964		1,858,103
STO SE & Co. KGaA (Preference Shares)		12,520		1,838,699
				3,696,802
Containers & Packaging – 0.7%
Orora Ltd.		3,233,115		8,158,356
Metals & Mining – 3.8%
APERAM SA		184,344		5,119,972
Central Asia Metals PLC		681,782		1,838,302
Champion Iron Ltd.		516,656		1,931,466
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS		2,641,209		1,789,746
Labrador Iron Ore Royalty Corp.		109,494		2,411,556
Lundin Mining Corp.		970,459		6,152,071
Mitsui Mining & Smelting Co., Ltd.		108,200		2,523,468
Northern Star Resources Ltd.		1,050,988		4,929,878
OZ Minerals Ltd.		789,896		9,710,247
Perenti Global Ltd.		5,067,784		2,298,016
SSAB AB - Class B		539,902		2,243,415
Wesdome Gold Mines Ltd.(a)		147,890		1,281,054
				42,229,191
Paper & Forest Products – 1.0%
Century Plyboards India Ltd.		339,150		2,269,556
Daiken Corp.		146,600		1,985,317
Interfor Corp.(a)		365,426		7,364,163
				11,619,036
				112,771,724
Communication Services – 8.2%
Diversified Telecommunication Services – 0.2%
Telecom Egypt Co.		3,021,580		2,223,753
Entertainment – 3.5%
Capcom Co., Ltd.		449,500		10,934,506
CTS Eventim AG & Co. KGaA(a)		35,530		1,874,181
GungHo Online Entertainment, Inc.		438,400		7,777,842
International Games System Co., Ltd.		395,000		9,938,774
Soft-World International Corp.		482,000		1,253,113
Toei Animation Co., Ltd.		100,658		8,035,389
				39,813,805
Interactive Media & Services – 1.0%
AfreecaTV Co., Ltd.		24,970		1,550,775
Dip Corp.		336,000		9,350,622
				10,901,397
Media – 3.5%
Affle India Ltd.(a)		184,258		2,494,813
Cogeco Communications, Inc.		118,378		8,007,437
Criteo SA (Sponsored ADR)(a)		278,893		6,804,989

6

Company	Shares		U.S. $ Value
IPSOS		23,270	$	1,109,991
Kadokawa Corp.		185,000		4,002,053
Rightmove PLC		412,010		2,855,163
Stroeer SE & Co. KGaA		143,511		6,482,620
Sun TV Network Ltd.		1,037,407		5,480,251
Television Francaise 1		317,220		2,250,397
				39,487,714
				92,426,669
Real Estate – 6.7%
Equity Real Estate Investment Trusts (REITs) – 3.0%
AIMS APAC REIT		2,543,900		2,473,552
Charter Hall Retail REIT		2,876,456		7,511,788
H&R Real Estate Investment Trust		243,360		2,353,816
Immobiliare Grande Distribuzione SIIQ SpA		464,761		1,732,239
Keppel Pacific Oak US REIT(b)		2,396,000		1,677,540
Killam Apartment Real Estate Investment Trust		522,990		6,968,053
Manulife US Real Estate Investment Trust(b)		4,141,400		2,361,294
Merlin Properties Socimi SA		236,820		2,293,445
Morguard North American Residential Real Estate Investment Trust		185,002		2,354,205
Regional REIT Ltd.(b)		2,548,170		2,250,615
Sasseur Real Estate Investment Trust(b)		4,009,200		2,251,576
				34,228,123
Real Estate Management & Development – 3.7%
CA Immobilien Anlagen AG		345,323		10,993,048
Emaar Development PJSC(a)		1,907,920		2,209,378
Farglory Land Development Co., Ltd.		3,413,000		7,190,655
Grand City Properties SA		397,500		5,376,910
IWG PLC(a)		1,904,737		4,361,166
Kerry Properties Ltd.		902,500		2,509,670
KWG Living Group Holdings Ltd.(b)		10,686,000		3,349,623
Midea Real Estate Holding Ltd.(b)		1,917,200		3,106,892
Sirius Real Estate Ltd.		1,732,560		1,881,269
				40,978,611
				75,206,734
Health Care – 6.7%
Biotechnology – 0.9%
BioGaia AB		204,235		2,078,044
Clinuvel Pharmaceuticals Ltd.		132,351		1,357,566
Hugel, Inc.(a)		76,845		6,231,452
				9,667,062
Health Care Equipment & Supplies – 2.7%
ConvaTec Group PLC(b)		2,993,112		8,204,058
Getinge AB - Class B		420,990		9,757,017
LivaNova PLC(a)		135,404		8,458,688
Osstem Implant Co., Ltd.		28,258		2,185,705
Riverstone Holdings Ltd.		4,454,800		2,372,815
				30,978,283

7

Company	Shares		U.S. $ Value
Health Care Providers & Services – 0.7%
Chularat Hospital PCL		24,378,800	$	2,551,310
Healius Ltd.		918,220		2,327,935
Odontoprev SA		1,411,080		2,521,014
				7,400,259
Life Sciences Tools & Services – 0.9%
Chemometec A/S		26,215		2,817,354
Gerresheimer AG		117,223		7,657,865
				10,475,219
Pharmaceuticals – 1.5%
Chong Kun Dang Pharmaceutical Corp.		16,828		1,137,191
Faes Farma SA		496,093		2,023,229
Huons Co., Ltd.		37,076		1,007,390
Hypera SA		943,700		6,859,404
Mega Lifesciences PCL		2,098,400		2,997,290
Sanofi India Ltd.		29,225		2,382,891
				16,407,395
				74,928,218
Consumer Staples – 4.1%
Beverages – 0.8%
Royal Unibrew A/S		102,264		9,101,272
Food & Staples Retailing – 0.8%
Arcs Co., Ltd.		143,500		2,118,536
Axfood AB		112,628		3,242,843
Sheng Siong Group Ltd.		2,307,600		2,524,813
Sonae SGPS SA		1,332,610		1,635,147
				9,521,339
Food Products – 1.5%
Austevoll Seafood ASA		638,154		7,526,503
Hokuto Corp.		174,800		2,494,206
Marfrig Global Foods SA		709,200		1,641,061
Zhou Hei Ya International Holdings Co., Ltd.(b)		7,050,800		4,860,671
				16,522,441
Personal Products – 1.0%
Cosmax, Inc.		60,324		2,629,394
Industri Jamu Dan Farmasi Sido Muncul Tbk PT		46,162,640		3,098,684
TCI Co., Ltd.		950,000		4,955,356
				10,683,434
				45,828,486
Energy – 3.4%
Energy Equipment & Services – 0.2%
Pason Systems, Inc.		227,239		2,575,681
Oil, Gas & Consumable Fuels – 3.2%
Baytex Energy Corp.(a)		556,804		2,703,562
Beach Energy Ltd.		8,909,121		10,611,254
Cosmo Energy Holdings Co., Ltd.		196,000		5,404,717
Harbour Energy PLC		423,890		1,883,087
Inner Mongolia Yitai Coal Co., Ltd.		745,000		1,091,582

8

Company	Shares		U.S. $ Value
Itochu Enex Co., Ltd.		347,800	$	2,695,666
New Hope Corp., Ltd.		493,930		1,187,041
Serica Energy PLC		620,828		2,151,397
VERBIO Vereinigte BioEnergie AG		54,600		2,750,637
Vermilion Energy, Inc.		140,887		2,681,581
Whitecap Resources, Inc.		376,248		2,613,158
				35,773,682
				38,349,363
Utilities – 2.7%
Electric Utilities – 1.0%
Elmera Group ASA(b)		935,756		1,903,342
Enea SA(a)		1,223,470		2,666,865
Enerjisa Enerji AS(b)		2,663,160		2,173,878
Genesis Energy Ltd.		2,991,078		4,946,836
				11,690,921
Independent Power and Renewable Electricity Producers – 1.3%
Capital Power Corp.		403,273		14,101,397
Multi-Utilities – 0.2%
Hera SpA		795,239		2,304,395
Water Utilities – 0.2%
Cia de Saneamento de Minas Gerais-COPASA		1,132,000		2,491,786
				30,588,499
Total Common Stocks (cost $1,171,619,096)				1,093,749,165
SHORT-TERM INVESTMENTS – 1.4%
Investment Companies – 1.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 1.30%(c) (d) (e) (cost $15,644,668)		15,644,668		15,644,668
Total Investments – 98.6% (cost $1,187,263,764)(f)				1,109,393,833
Other assets less liabilities – 1.4%				15,774,674
Net Assets – 100.0%			$	1,125,168,507

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		JPY	1,014,071		USD	7,833		07/15/2022		$	354,868
Bank of America, NA		USD	8,394		JPY	1,084,996		07/15/2022			(392,443	)
Bank of America, NA		CAD	4,732		USD	3,666		07/21/2022			(9,787	)
Bank of America, NA		EUR	4,713		USD	5,070		07/28/2022			123,734
Bank of America, NA		USD	4,417		EUR	4,243		07/28/2022			36,325
Bank of America, NA		USD	4,862		EUR	4,548		07/28/2022			(88,387	)
Bank of America, NA		NOK	25,989		USD	2,600		09/22/2022			(43,333	)
Barclays Bank PLC		USD	3,716		INR	289,480		07/07/2022			(51,226	)

9

Counterparty	Contracts to Deliver (000)			In Exchange For (000)				Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC		USD	2,649		JPY		360,478		07/15/2022		$	9,138
Barclays Bank PLC		USD	10,617		GBP		8,470		08/25/2022			(296,552	)
Barclays Bank PLC		USD	7,957		MYR		35,142		12/15/2022			(401	)
BNP Paribas SA		USD	6,736		INR		516,326		07/07/2022			(198,852	)
BNP Paribas SA		USD	12,279		SGD		16,796		07/08/2022			(189,229	)
BNP Paribas SA		USD	3,689		CAD		4,633		07/21/2022			(89,741	)
BNP Paribas SA		USD	3,283		KRW		4,079,239		07/27/2022			(116,922	)
Citibank, NA		USD	3,550		AUD		4,862		07/21/2022			(193,349	)
Citibank, NA		USD	3,708		EUR		3,546		07/28/2022			13,553
Deutsche Bank AG		USD	8,818		CHF		8,426		07/13/2022			12,737
Deutsche Bank AG		AUD	7,956		USD		5,592		07/21/2022			100,265
Deutsche Bank AG		EUR	45,851		USD		48,460		07/28/2022			337,873
Deutsche Bank AG		PHP	301,351		USD		5,692		07/28/2022			219,726
Goldman Sachs Bank USA		JPY	1,344,290		USD		10,599		07/15/2022			685,883
Goldman Sachs Bank USA		CAD	4,633		USD		3,576		07/21/2022			(23,694	)
Goldman Sachs Bank USA		TWD	142,742		USD		4,910		07/27/2022			103,200
HSBC Bank USA		INR	325,318		USD		4,178		07/07/2022			59,553
HSBC Bank USA		JPY	658,386		USD		5,103		07/15/2022			248,189
HSBC Bank USA		TWD	305,479		USD		10,301		07/27/2022			13,919
HSBC Bank USA		USD	5,957		KRW		7,376,652		07/27/2022			(231,856	)
Morgan Stanley Capital Services, Inc.		USD	14,664		INR		1,123,595		07/07/2022			(438,261	)
Morgan Stanley Capital Services, Inc.		CHF	3,404		USD		3,458		07/13/2022			(109,391	)
Morgan Stanley Capital Services, Inc.		USD	15,294		CHF		14,221		07/13/2022			(390,535	)
Morgan Stanley Capital Services, Inc.		USD	3,249		JPY		441,866		07/15/2022			9,928
Morgan Stanley Capital Services, Inc.		USD	14,835		JPY		1,931,751		07/15/2022			(589,830	)
Morgan Stanley Capital Services, Inc.		USD	10,317		AUD	��	14,394		07/21/2022			(380,222	)
Morgan Stanley Capital Services, Inc.		TWD	441,208		USD		15,143		07/27/2022			285,160
Morgan Stanley Capital Services, Inc.		EUR	3,495		USD		3,704		07/28/2022			35,949
Morgan Stanley Capital Services, Inc.		USD	3,801		EUR		3,638		07/28/2022			16,925
Morgan Stanley Capital Services, Inc.		GBP	1,984		USD		2,425		08/25/2022			7,911
Morgan Stanley Capital Services, Inc.		GBP	6,486		USD		7,791		08/25/2022			(112,289	)
Natwest Markets PLC		INR	239,944		USD		3,067		07/07/2022			29,619
Natwest Markets PLC		USD	13,361		ILS		44,507		07/25/2022			(606,059	)
Natwest Markets PLC		EUR	7,569		USD		8,138		07/28/2022			194,212
Natwest Markets PLC		USD	12,455		ZAR		200,102		08/18/2022			(211,262	)
Standard Chartered Bank		TRY	108,183		USD		5,891		07/19/2022			(526,876	)
Standard Chartered Bank		USD	5,050		TWD		147,007		07/27/2022			(99,508	)
State Street Bank & Trust Co.		SGD	13,150		USD		9,535		07/08/2022			70,121
State Street Bank & Trust Co.		CAD	5,572		USD		4,375		07/21/2022			46,156
UBS AG		AUD	11,300		USD		8,147		07/21/2022			346,382
UBS AG		CAD	3,727		USD		2,947		07/21/2022			51,824
UBS AG		USD	7,184		CAD		9,299		07/21/2022			40,066
UBS AG		SEK	61,885		USD		6,073		09/22/2022			3,842
											$	(1,932,947	)

(a) Non-income producing security.

(b) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At June 30, 2022, the aggregate market value of these securities amounted to $64,433,028 or 5.7% of net assets.

(c) Affiliated investments.

(d) The rate shown represents the 7-day yield as of period end.

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(e) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(f) As of June 30, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $147,082,890 and gross unrealized depreciation of investments was $(226,885,768), resulting in net unrealized depreciation of $(79,802,878).

Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Currency Abbreviations:

AUD – Australian Dollar

CAD – Canadian Dollar

CHF – Swiss Franc

EUR – Euro

GBP – Great British Pound

ILS – Israeli Shekel

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MYR – Malaysian Ringgit

NOK – Norwegian Krone

PHP – Philippine Peso

SEK – Swedish Krona

SGD – Singapore Dollar

TRY – Turkish Lira

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ADR – American Depositary Receipt

PJSC – Public Joint Stock Company

REIT – Real Estate Investment Trust

SDR – Swedish Depositary Receipt

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Bernstein Fund, Inc.

International Small Cap Portfolio

June 30, 2022 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’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.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of June 30, 2022:

Investments in Securities:	Level 1		Level 2		Level 3		Total
Assets:
Common Stocks:
Industrials	$	51,336,577	$	162,499,972	$	—	$	213,836,549
Consumer Discretionary		11,584,680		142,882,623		—		154,467,303
Information Technology		4,540,532		129,726,755		—		134,267,287
Financials		18,156,860		102,921,473		—		121,078,333
Materials		19,047,146		93,724,578		—		112,771,724
Communication Services		14,812,426		77,614,243		—		92,426,669
Real Estate		13,557,343		61,649,391		—		75,206,734
Health Care		22,763,231		52,164,987		—		74,928,218

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Investments in Securities:	Level 1		Level 2			Level 3		Total
Consumer Staples	$	4,739,745	$	41,088,741		$	—	$	45,828,486
Energy		10,573,982		27,775,381			—		38,349,363
Utilities		16,593,183		13,995,316			—		30,588,499
Short-Term Investments		15,644,668		—			—		15,644,668
Total Investments in Securities		203,350,373		906,043,460	(a)		—		1,109,393,833
Other Financial Instruments(b):
Assets:
Forward Currency Exchange Contracts		—		3,457,058			—		3,457,058
Liabilities:
Forward Currency Exchange Contracts		—		(5,390,005	)		—		(5,390,005	)
Total	$	203,350,373	$	904,110,513		$	—	$	1,107,460,886

^(a)  A significant portion of the Portfolio’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available.

^(b)  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.

A summary of the Portfolio’s transactions in AB mutual funds for the nine months ended June 30, 2022 is as follows:

Fund	Market Value 09/30/2021 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 06/30/2022 (000)		Dividend Income (000)
Government Money Market Portfolio	$	17,728	$	209,054	$	211,137	$	15,645	$	31

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