Bernstein Fund NPORT-P International Strategic Equities Portfolio (Jun 2024 report)

Bernstein Fund, Inc.

Schedule of Investments

International Strategic Equities Portfolio

June 30, 2024 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 98.6%
Financials – 20.8%
Banks – 17.6%
Banco Bilbao Vizcaya Argentaria SA		14,316,430	$	143,715,400
Banco do Brasil SA		3,674,300		17,556,135
Barclays PLC		30,811,340		81,416,319
BNP Paribas SA		1,093,980		69,962,299
China Merchants Bank Co., Ltd. - Class H		32,676,000		148,484,308
Erste Group Bank AG		2,587,089		122,460,284
Eurobank Ergasias Services and Holdings SA(a)		21,562,760		46,758,663
HDFC Bank Ltd.		4,203,848		84,953,812
KB Financial Group, Inc.		3,160,510		179,770,239
Mitsubishi UFJ Financial Group, Inc.		8,167,200		88,140,643
Piraeus Financial Holdings SA(a)		9,472,270		34,470,045
Resona Holdings, Inc.		14,915,900		99,222,692
Sumitomo Mitsui Financial Group, Inc.		2,692,300		180,720,300
UniCredit SpA		2,957,560		109,447,527
				1,407,078,666
Capital Markets – 1.9%
B3 SA - Brasil Bolsa Balcao		32,821,200		60,122,196
Japan Exchange Group, Inc.		3,965,100		92,994,864
				153,117,060
Insurance – 1.3%
NN Group NV		2,317,230		107,701,252
				1,667,896,978
Industrials – 19.2%
Aerospace & Defense – 2.8%
BAE Systems PLC		10,713,330		178,447,948
MTU Aero Engines AG		90,598		23,098,254
Safran SA		109,570		23,092,810
				224,639,012
Electrical Equipment – 4.8%
Fuji Electric Co., Ltd.		1,321,800		75,528,425
Prysmian SpA		3,078,530		190,059,082
Schneider Electric SE		496,690		119,079,328
				384,666,835
Ground Transportation – 1.4%
Canadian National Railway Co.		929,820		109,875,152
Machinery – 3.5%
Kawasaki Heavy Industries Ltd.		2,618,300		99,960,628
Mitsubishi Heavy Industries Ltd.		12,024,700		129,446,754
Toyota Industries Corp.		663,000		56,398,320
				285,805,702
Professional Services – 5.3%
RELX PLC (London)		4,370,610		200,256,239
Wolters Kluwer NV		1,373,660		226,843,789
				427,100,028

1

Company	Shares		U.S. $ Value
Trading Companies & Distributors – 1.4%
Mitsubishi Corp.		5,640,700	$	110,884,257
				1,542,970,986
Information Technology – 16.7%
Electronic Equipment, Instruments & Components – 0.6%
Delta Electronics, Inc.		2,030,000		24,212,818
Nan Ya Printed Circuit Board Corp.(a)		3,962,000		22,672,445
				46,885,263
IT Services – 0.9%
CGI, Inc.(a)		262,120		26,163,142
Tata Consultancy Services Ltd.		1,040,638		48,643,933
				74,807,075
Semiconductors & Semiconductor Equipment – 11.9%
ASML Holding NV		134,570		137,149,149
MediaTek, Inc.		991,000		42,680,763
Novatek Microelectronics Corp.		6,001,000		111,917,428
SCREEN Holdings Co., Ltd.		1,045,700		94,801,950
SK Hynix, Inc.		823,230		139,709,171
Taiwan Semiconductor Manufacturing Co., Ltd.		11,573,000		342,880,364
Tokyo Electron Ltd.		372,800		81,606,060
				950,744,885
Software – 0.5%
SAP SE		206,940		41,569,191
Technology Hardware, Storage & Peripherals – 2.8%
Quanta Computer, Inc.		5,897,000		56,373,231
Samsung Electronics Co., Ltd.		2,844,570		167,413,685
Shenzhen Transsion Holdings Co., Ltd. - Class A		1		11
				223,786,927
				1,337,793,341
Consumer Discretionary – 14.5%
Automobile Components – 0.6%
Sumitomo Electric Industries Ltd.		2,972,500		46,473,565
Automobiles – 4.5%
Honda Motor Co., Ltd.		11,891,800		127,836,659
Kia Corp.		1,170,610		109,535,506
Stellantis NV		6,340,707		125,020,428
				362,392,593
Broadline Retail – 0.9%
PDD Holdings, Inc. (ADR)(a)		552,980		73,518,691
Hotels, Restaurants & Leisure – 1.3%
Aristocrat Leisure Ltd.		742,865		24,600,360
Booking Holdings, Inc.		19,370		76,734,255
				101,334,615
Household Durables – 1.4%
Barratt Developments PLC		6,892,310		40,934,289
Gree Electric Appliances, Inc. of Zhuhai - Class A		4,097,100		22,104,989
Midea Group Co., Ltd. - Class A		5,986,539		53,075,162
				116,114,440

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Company	Shares		U.S. $ Value
Specialty Retail – 2.8%
Industria de Diseno Textil SA		4,459,500	$	221,295,534
Textiles, Apparel & Luxury Goods – 3.0%
ANTA Sports Products Ltd.		6,618,000		63,294,485
Eclat Textile Co., Ltd.		3,022,000		49,235,527
Kering SA		168,260		61,203,724
LVMH Moet Hennessy Louis Vuitton SE		87,280		67,012,781
				240,746,517
				1,161,875,955
Health Care – 10.2%
Health Care Equipment & Supplies – 1.2%
ResMed, Inc. (CDI)		4,993,600		96,420,356
Pharmaceuticals – 9.0%
GSK PLC		10,511,300		202,176,550
Novartis AG (REG)		766,890		81,652,026
Novo Nordisk A/S - Class B		3,052,040		436,700,394
				720,528,970
				816,949,326
Energy – 5.5%
Oil, Gas & Consumable Fuels – 5.5%
Equinor ASA		1,461,160		41,853,185
Petroleo Brasileiro SA (Preference Shares)		12,142,100		82,647,342
Repsol SA		9,344,020		148,183,809
Shell PLC		4,707,600		168,852,013
				441,536,349
Consumer Staples – 3.7%
Consumer Staples Distribution & Retail – 2.6%
Jeronimo Martins SGPS SA		1,332,660		26,045,489
Loblaw Cos., Ltd.		1,584,600		183,820,781
				209,866,270
Personal Care Products – 1.1%
Unilever PLC (London)		1,581,890		86,825,722
				296,691,992
Materials – 3.5%
Construction Materials – 2.0%
CRH PLC		2,104,410		157,788,662
Metals & Mining – 1.5%
ArcelorMittal SA		2,277,000		52,164,379
Sumitomo Metal Mining Co., Ltd.		2,378,000		72,251,797
				124,416,176
				282,204,838
Communication Services – 3.0%
Entertainment – 1.8%
Capcom Co., Ltd.		3,030,200		57,321,926
Konami Group Corp.		1,167,200		84,393,730
				141,715,656

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Company	Shares		U.S. $ Value
Interactive Media & Services – 1.2%
Tencent Holdings Ltd.		2,042,100	$	96,877,893
				238,593,549
Real Estate – 1.3%
Real Estate Management & Development – 1.3%
Emaar Properties PJSC		48,348,430		107,938,232
Utilities – 0.2%
Multi-Utilities – 0.2%
Sembcorp Industries Ltd.		4,604,000		16,273,239
Total Common Stocks (cost $6,083,923,944)				7,910,724,785
SHORT-TERM INVESTMENTS – 0.9%
Investment Companies – 0.9%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.22%(b) (c) (d) (cost $69,695,229)		69,695,229		69,695,229
Total Investments – 99.5% (cost $6,153,619,173)(e)				7,980,420,014
Other assets less liabilities – 0.5%				37,699,110
Net Assets – 100.0%			$	8,018,119,124

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		BRL	115,619		USD	21,836		07/02/2024		$	1,152,691
Bank of America, NA		USD	20,799		BRL	115,619		07/02/2024			(116,085	)
Bank of America, NA		USD	38,701		THB	1,418,777		07/12/2024			(8,655	)
Bank of America, NA		USD	17,719		KRW	24,666,356		07/18/2024			167,859
Bank of America, NA		USD	17,929		CNH	130,344		07/23/2024			(43,924	)
Bank of America, NA		EUR	41,151		USD	44,505		08/08/2024			357,526
Barclays Bank PLC		USD	17,898		TRY	609,830		07/24/2024			335,194
Barclays Bank PLC		USD	14,865		PHP	844,712		07/25/2024			(410,443	)
Barclays Bank PLC		EUR	19,467		USD	20,904		08/08/2024			19,502
Barclays Bank PLC		USD	23,738		EUR	22,067		08/08/2024			(63,602	)
Barclays Bank PLC		JPY	6,758,596		USD	43,671		08/16/2024			1,376,339
Barclays Bank PLC		TWD	1,795,555		USD	55,775		08/23/2024			454,495
Barclays Bank PLC		USD	331,820		INR	27,788,274		09/13/2024			708,083
BNP Paribas SA		KRW	45,086,977		USD	32,938		07/18/2024			243,217
BNP Paribas SA		CNH	139,578		USD	19,365		07/23/2024			212,535
BNP Paribas SA		USD	18,488		SGD	24,878		07/25/2024			(121,500	)
BNP Paribas SA		USD	31,877		CHF	28,537		08/08/2024			27,292
BNP Paribas SA		USD	25,694		INR	2,151,325		09/13/2024			49,329
Citibank, NA		CNH	161,699		USD	22,413		07/23/2024			224,909
Citibank, NA		USD	151,714		CNH	1,093,523		07/23/2024			(1,664,200	)
Citibank, NA		EUR	677,550		USD	730,101		08/08/2024			3,210,853
Citibank, NA		USD	12,049		CHF	10,818		08/08/2024			45,010
Citibank, NA		USD	42,248		EUR	39,445		08/08/2024			69,540
Citibank, NA		JPY	8,237,949		USD	53,052		08/16/2024			1,498,873

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Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Citibank, NA		USD	35,051		JPY	5,409,230		08/16/2024		$	(1,200,660	)
Citibank, NA		USD	265,117		CAD	364,683		08/23/2024			1,772,758
Deutsche Bank AG		JPY	523,018		USD	3,377		08/16/2024			103,941
Goldman Sachs Bank USA		USD	21,947		EUR	20,480		08/08/2024			24,448
Goldman Sachs Bank USA		JPY	2,169,844		USD	13,920		08/16/2024			341,466
Goldman Sachs Bank USA		USD	27,065		MYR	128,127		08/21/2024			116,451
Goldman Sachs Bank USA		TWD	1,532,388		USD	47,422		08/23/2024			209,341
HSBC Bank USA		BRL	590,739		USD	114,504		07/02/2024			8,828,347
HSBC Bank USA		USD	106,269		BRL	590,739		07/02/2024			(593,119	)
HSBC Bank USA		USD	15,617		PLN	63,682		07/11/2024			200,872
HSBC Bank USA		USD	31,692		KRW	43,533,004		07/18/2024			(124,000	)
HSBC Bank USA		NOK	571,990		USD	52,326		07/19/2024			(1,270,213	)
HSBC Bank USA		USD	37,142		IDR	592,290,276		07/19/2024			(936,834	)
HSBC Bank USA		CNH	116,097		USD	16,080		07/23/2024			149,441
HSBC Bank USA		USD	20,182		CNH	147,125		07/23/2024			6,019
HSBC Bank USA		USD	21,747		CNH	157,673		07/23/2024			(111,252	)
HSBC Bank USA		USD	28,122		ILS	104,429		07/25/2024			(449,043	)
HSBC Bank USA		EUR	20,473		USD	22,003		08/08/2024			38,782
HSBC Bank USA		USD	33,824		JPY	5,277,754		08/16/2024			(795,941	)
HSBC Bank USA		USD	58,024		ZAR	1,074,986		08/22/2024			835,925
JPMorgan Chase Bank, NA		USD	22,133		NOK	233,115		07/19/2024			(289,871	)
JPMorgan Chase Bank, NA		USD	160,149		SEK	1,731,771		07/19/2024			3,376,560
JPMorgan Chase Bank, NA		EUR	35,666		USD	38,258		08/08/2024			(5,274	)
JPMorgan Chase Bank, NA		USD	11,739		EUR	10,937		08/08/2024			(5,897	)
JPMorgan Chase Bank, NA		JPY	39,744,704		USD	256,825		08/16/2024			8,104,710
Morgan Stanley Capital Services, Inc.		BRL	706,358		USD	127,068		07/02/2024			709,204
Morgan Stanley Capital Services, Inc.		USD	129,817		BRL	706,358		07/02/2024			(3,457,843	)
Morgan Stanley Capital Services, Inc.		KRW	385,924,537		USD	283,293		07/18/2024			3,436,120
Morgan Stanley Capital Services, Inc.		USD	12,039		CLP	11,233,560		07/19/2024			(103,815	)
Morgan Stanley Capital Services, Inc.		USD	59,803		MXN	1,001,381		07/25/2024			(5,258,680	)
Morgan Stanley Capital Services, Inc.		USD	16,851		NZD	27,640		07/25/2024			(15,308	)
Morgan Stanley Capital Services, Inc.		BRL	706,358		USD	129,371		08/02/2024			3,473,730
Morgan Stanley Capital Services, Inc.		TWD	3,884,337		USD	121,900		08/23/2024			2,224,430
Morgan Stanley Capital Services, Inc.		GBP	145,376		USD	184,401		08/29/2024			554,646
NatWest Markets PLC		USD	2,275		NOK	23,954		07/19/2024			(30,996	)
Standard Chartered Bank		CNH	28,559		USD	3,953		07/23/2024			34,441
Standard Chartered Bank		EUR	19,413		USD	20,821		08/08/2024			(5,233	)
Standard Chartered Bank		USD	14,452		TWD	468,000		08/23/2024			(33,387	)
State Street Bank & Trust Co.		KRW	100,121,543		USD	73,086		07/18/2024			481,648
State Street Bank & Trust Co.		CNH	320,563		USD	44,438		07/23/2024			451,146
State Street Bank & Trust Co.		USD	18,552		CNH	134,890		07/23/2024			(43,343	)
State Street Bank & Trust Co.		EUR	40,765		USD	43,850		08/08/2024			116,529
State Street Bank & Trust Co.		USD	350,067		CHF	313,325		08/08/2024			224,493
State Street Bank & Trust Co.		JPY	7,303,633		USD	47,013		08/16/2024			1,307,447
State Street Bank & Trust Co.		GBP	19,786		USD	25,065		08/29/2024			43,579
UBS AG		USD	48,549		EUR	44,934		08/08/2024			(343,153	)
UBS AG		USD	25,774		TWD	832,021		08/23/2024			(140,069	)
UBS AG		USD	369,514		AUD	553,552		09/19/2024			509,118
										$	30,186,499

(a) Non-income producing security.

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(b) Affiliated investments.

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

(d) 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.

(e) As of June 30, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $2,033,538,285 and gross unrealized depreciation of investments was $(176,550,945), resulting in net unrealized appreciation of $1,856,987,340.

  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

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

EUR – Euro

GBP – Great British Pound

IDR – Indonesian Rupiah

ILS – Israeli Shekel

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PHP – Philippine Peso

PLN – Polish Zloty

SEK – Swedish Krona

SGD – Singapore Dollar

THB – Thailand Baht

TRY – Turkish Lira

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ADR – American Depositary Receipt

CDI – CHESS Depositary Interest

PJSC – Public Joint Stock Company

REG – Registered Shares

COUNTRY BREAKDOWN¹

June 30, 2024 (unaudited)

18.8	%	Japan
9.7	%	United States
9.5	%	United Kingdom
8.1	%	Taiwan
7.5	%	South Korea
6.4	%	Spain
5.9	%	Netherlands
5.7	%	China
5.5	%	Denmark
4.0	%	Canada
3.8	%	Italy
2.8	%	France
2.0	%	Brazil
9.4	%	Other
0.9	%	Short-Term Investments
100.0	%	Total Investments

1 The Portfolio’s country breakdown is expressed as a percentage of total investments and may vary over time. The Portfolio also enters into derivative transactions, which may be used for hedging or investment purposes (see “Schedule of Investments” section of the report for additional details). “Other” country weightings represent 1.7% or less in the following: Australia, Austria, Germany, Greece, India, Luxembourg, Norway, Portugal, Singapore, Switzerland and United Arab Emirates.

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Bernstein Fund, Inc.

International Strategic Equities Portfolio

June 30, 2024 (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.

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The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of June 30, 2024:

Investments in Securities:	Level 1		Level 2			Level 3		Total
Assets:
Common Stocks:
Financials	$	77,678,331	$	1,590,218,647		$	—	$	1,667,896,978
Industrials		109,875,152		1,433,095,834			—		1,542,970,986
Information Technology		26,163,142		1,311,630,199			—		1,337,793,341
Consumer Discretionary		150,252,946		1,011,623,009			—		1,161,875,955
Health Care		—		816,949,326			—		816,949,326
Energy		82,647,342		358,889,007			—		441,536,349
Consumer Staples		183,820,781		112,871,211			—		296,691,992
Materials		157,788,662		124,416,176			—		282,204,838
Communication Services		—		238,593,549			—		238,593,549
Real Estate		107,938,232		—			—		107,938,232
Utilities		—		16,273,239			—		16,273,239
Short-Term Investments		69,695,229		—			—		69,695,229
Total Investments in Securities		965,859,817		7,014,560,197	(a)		—		7,980,420,014
Other Financial Instruments(b):
Assets:
Forward Currency Exchange Contracts		—		47,828,839			—		47,828,839
Liabilities:
Forward Currency Exchange Contracts		—		(17,642,340	)		—		(17,642,340	)
Total	$	965,859,817	$	7,044,746,696		$	—	$	8,010,606,513

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

A summary of the Portfolio’s transactions in AB mutual funds for the nine months ended June 30, 2024 is as follows:

Fund	Market Value 09/30/2023 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 06/30/2024 (000)		Dividend Income (000)
Government Money Market Portfolio	$	80,789	$	1,223,139	$	1,234,233	$	69,695	$	3,041

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