AB Discovery Growth Fund, Inc.
Portfolio of Investments
April 30, 2021 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS – 97.9% |
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Information Technology – 35.2% | ||||||||
Electronic Equipment, Instruments & Components – 6.3% | ||||||||
Cognex Corp. | 939,300 | $ | 80,892,516 | |||||
IPG Photonics Corp.(a) (b) | 252,083 | 54,729,740 | ||||||
Littelfuse, Inc. | 205,883 | 54,608,407 | ||||||
Novanta, Inc.(b) | 378,271 | 49,822,073 | ||||||
Shoals Technologies Group, Inc.(b) | 1,097,927 | 35,210,519 | ||||||
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275,263,255 | ||||||||
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IT Services – 3.7% |
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Digitalocean Holdings, Inc.(b) | 633,530 | 27,602,902 | ||||||
MongoDB, Inc.(a) (b) | 231,450 | 68,847,117 | ||||||
Shift4 Payments, Inc. - Class A(b) | 646,331 | 63,915,673 | ||||||
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160,365,692 | ||||||||
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Semiconductors & Semiconductor Equipment – 12.2% |
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Cree, Inc.(a) (b) | 403,556 | 40,121,538 | ||||||
Entegris, Inc. | 664,206 | 74,776,311 | ||||||
Lattice Semiconductor Corp.(b) | 1,245,868 | 62,679,619 | ||||||
MACOM Technology Solutions Holdings, Inc.(b) | 648,864 | 36,732,191 | ||||||
MKS Instruments, Inc. | 366,070 | 65,566,798 | ||||||
Monolithic Power Systems, Inc. | 237,670 | 85,889,185 | ||||||
ON Semiconductor Corp.(b) | 1,440,280 | 56,170,920 | ||||||
Synaptics, Inc.(b) | 378,590 | 52,953,383 | ||||||
Universal Display Corp. | 262,363 | 58,687,979 | ||||||
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533,577,924 | ||||||||
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Software – 13.0% |
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Anaplan, Inc.(b) | 771,541 | 46,022,421 | ||||||
Avalara, Inc.(b) | 353,029 | 50,027,740 | ||||||
Coupa Software, Inc.(a) (b) | 81,062 | 21,808,921 | ||||||
Fair Isaac Corp.(b) | 136,565 | 71,206,357 | ||||||
HubSpot, Inc.(b) | 138,921 | 73,134,960 | ||||||
Manhattan Associates, Inc.(b) | 552,403 | 75,811,788 | ||||||
RingCentral, Inc. - Class A(a) (b) | 129,353 | 41,257,139 | ||||||
Smartsheet, Inc. - Class A(b) | 954,191 | 56,583,526 | ||||||
Varonis Systems, Inc.(b) | 980,633 | 51,924,517 | ||||||
Zendesk, Inc.(b) | 522,640 | 76,383,836 | ||||||
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564,161,205 | ||||||||
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1,533,368,076 | ||||||||
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Health Care – 20.8% | ||||||||
Biotechnology – 8.7% | ||||||||
ADC Therapeutics SA(a) (b) | 783,395 | 19,224,513 | ||||||
Allogene Therapeutics, Inc.(b) | 646,934 | 20,003,199 | ||||||
Arena Pharmaceuticals, Inc.(b) | 102,985 | 7,067,861 | ||||||
Arrowhead Pharmaceuticals, Inc.(b) | 450,450 | 32,774,742 | ||||||
Ascendis Pharma A/S (Sponsored ADR)(b) | 129,057 | 18,709,393 | ||||||
Biohaven Pharmaceutical Holding Co., Ltd.(b) | 340,721 | 25,588,147 |
1
Company | Shares | U.S. $ Value | ||||||
Blueprint Medicines Corp.(b) | 298,947 | $ | 28,794,575 | |||||
Coherus Biosciences, Inc.(a) (b) | 1,031,910 | 15,272,268 | ||||||
Deciphera Pharmaceuticals, Inc.(b) | 298,250 | 13,829,853 | ||||||
Instil Bio, Inc.(b) | 522,234 | 10,721,464 | ||||||
Intellia Therapeutics, Inc.(b) | 359,860 | 27,626,452 | ||||||
Iovance Biotherapeutics, Inc.(b) | 843,440 | 26,517,754 | ||||||
Kodiak Sciences, Inc.(a) (b) | 215,729 | 26,068,692 | ||||||
Legend Biotech Corp. ADR(b) | 599,377 | 18,041,248 | ||||||
PTC Therapeutics, Inc.(b) | 135,138 | 5,569,037 | ||||||
Sage Therapeutics, Inc.(b) | 176,430 | 13,895,627 | ||||||
Turning Point Therapeutics, Inc. - Class I(b) | 263,318 | 20,072,731 | ||||||
Ultragenyx Pharmaceutical, Inc.(b) | 237,283 | 26,490,274 | ||||||
Vir Biotechnology, Inc.(a) (b) | 460,106 | 21,965,460 | ||||||
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378,233,290 | ||||||||
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Health Care Equipment & Supplies – 3.1% |
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AtriCure, Inc.(b) | 686,719 | 52,925,433 | ||||||
Insulet Corp.(a) (b) | 149,286 | 44,072,213 | ||||||
Silk Road Medical, Inc.(a) (b) | 637,410 | 38,971,248 | ||||||
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135,968,894 | ||||||||
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Health Care Providers & Services – 3.4% |
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Alignment Healthcare, Inc.(b) | 802,638 | 21,302,012 | ||||||
Amedisys, Inc.(b) | 237,113 | 63,984,943 | ||||||
Guardant Health, Inc.(a) (b) | 384,361 | 61,105,712 | ||||||
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146,392,667 | ||||||||
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Health Care Technology – 0.1% |
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American Well Corp. - Class A(a) (b) | 264,475 | 4,070,270 | ||||||
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Life Sciences Tools & Services – 4.7% |
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10X Genomics, Inc.(a) (b) | 341,639 | 67,576,194 | ||||||
Berkeley Lights, Inc.(b) | 682,529 | 33,518,999 | ||||||
ICON PLC(a) (b) | 144,876 | 31,430,848 | ||||||
Repligen Corp.(b) | 351,277 | 74,368,854 | ||||||
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206,894,895 | ||||||||
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Pharmaceuticals – 0.8% |
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Instil Bio, Inc.(b) | 523,613 | 10,749,775 | ||||||
Revance Therapeutics, Inc.(b) | 800,264 | 23,303,688 | ||||||
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34,053,463 | ||||||||
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905,613,479 | ||||||||
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Consumer Discretionary – 16.7% | ||||||||
Distributors – 1.5% | ||||||||
Pool Corp. | 155,650 | 65,765,238 | ||||||
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Diversified Consumer Services – 1.3% | ||||||||
Chegg, Inc.(a) (b) | 648,999 | 58,624,080 | ||||||
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Company | Shares | U.S. $ Value | ||||||
Hotels, Restaurants & Leisure – 2.3% |
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Penn National Gaming, Inc.(a) (b) | 72,430 | $ | 6,454,962 | |||||
Planet Fitness, Inc.(b) | 558,313 | 46,892,709 | ||||||
Vail Resorts, Inc.(b) | 149,140 | 48,494,362 | ||||||
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101,842,033 | ||||||||
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Household Durables – 3.7% |
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NVR, Inc.(b) | 10,019 | 50,276,344 | ||||||
Tempur Sealy International, Inc. | 1,320,642 | 50,369,286 | ||||||
TopBuild Corp.(b) | 263,845 | 58,673,851 | ||||||
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159,319,481 | ||||||||
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Internet & Direct Marketing Retail – 1.1% |
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Etsy, Inc.(b) | 237,050 | 47,123,169 | ||||||
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Leisure Equipment & Products – 0.7% |
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Latham Group, Inc.(b) | 1,163,055 | 30,239,430 | ||||||
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Specialty Retail – 6.1% |
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Five Below, Inc.(b) | 317,623 | 63,927,981 | ||||||
Floor & Decor Holdings, Inc. - Class A(b) | 684,823 | 75,960,567 | ||||||
Lithia Motors, Inc. - Class A(a) | 158,450 | 60,905,011 | ||||||
National Vision Holdings, Inc.(a) (b) | 1,282,011 | 64,626,175 | ||||||
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265,419,734 | ||||||||
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728,333,165 | ||||||||
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Industrials – 13.6% | ||||||||
Aerospace & Defense – 1.3% | ||||||||
Axon Enterprise, Inc.(b) | 370,160 | 56,119,958 | ||||||
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Building Products – 1.8% |
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Trex Co., Inc.(a) (b) | 709,240 | 76,590,828 | ||||||
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Commercial Services & Supplies – 1.0% |
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Copart, Inc.(b) | 362,652 | 45,153,800 | ||||||
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Electrical Equipment – 1.4% |
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AMETEK, Inc. | 379,296 | 51,178,409 | ||||||
Plug Power, Inc.(b) | 252,877 | 7,209,523 | ||||||
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58,387,932 | ||||||||
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Machinery – 2.7% |
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Ingersoll Rand, Inc.(b) | 1,220,425 | 60,301,199 | ||||||
Middleby Corp. (The)(b) | 324,020 | 58,751,307 | ||||||
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119,052,506 | ||||||||
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Professional Services – 1.4% |
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Jacobs Engineering Group, Inc.(a) | 451,334 | 60,302,736 | ||||||
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Road & Rail – 1.2% |
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TFI International, Inc.(a) | 597,422 | 52,364,038 | ||||||
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Trading Companies & Distributors – 2.8% |
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SiteOne Landscape Supply, Inc.(a) (b) | 358,104 | 64,236,695 |
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Company | Shares | U.S. $ Value | ||||||
United Rentals, Inc.(b) | 182,780 | $ | 58,480,461 | |||||
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122,717,156 | ||||||||
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590,688,954 | ||||||||
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Financials – 6.7% |
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Banks – 2.1% |
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Pinnacle Financial Partners, Inc.(a) | 495,660 | 43,439,642 | ||||||
SVB Financial Group(a) (b) | 87,220 | 49,875,013 | ||||||
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93,314,655 | ||||||||
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Capital Markets – 1.2% |
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Ares Management Corp. - Class A | 1,001,574 | 52,602,666 | ||||||
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Consumer Finance – 0.3% |
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Fisker, Inc.(a) (b) | 942,490 | 12,365,469 | ||||||
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Insurance – 3.1% |
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Goosehead Insurance, Inc. - Class A(a) | 245,542 | 26,994,888 | ||||||
Inari Medical, Inc.(b) | 595,156 | 68,020,379 | ||||||
Kinsale Capital Group, Inc. | 226,087 | 39,341,399 | ||||||
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134,356,666 | ||||||||
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292,639,456 | ||||||||
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Consumer Staples – 2.5% |
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Food & Staples Retailing – 1.0% |
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Casey’s General Stores, Inc. | 195,193 | 43,369,933 | ||||||
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Food Products – 1.5% |
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Freshpet, Inc.(b) | 339,800 | 62,801,836 | ||||||
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106,171,769 | ||||||||
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Materials – 1.0% |
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Chemicals – 1.0% |
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FMC Corp. | 369,322 | 43,668,633 | ||||||
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Real Estate – 0.8% |
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Equity Real Estate Investment Trusts (REITs) – 0.8% |
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Safehold, Inc.(a) | 476,160 | 33,669,274 | ||||||
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Energy – 0.6% |
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Oil, Gas & Consumable Fuels – 0.6% |
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Matador Resources Co. | 985,810 | 25,936,661 | ||||||
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Total Common Stocks |
| 4,260,089,467 | ||||||
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INVESTMENT COMPANIES – 1.3% |
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Funds and Investment Trusts – 1.3% |
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iShares Russell 2000 Growth ETF(a) (c) | 186,826 | 57,282,720 | ||||||
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PREFERRED STOCKS – 0.0% |
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Consumer Discretionary – 0.0% |
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Household Durables – 0.0% |
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Honest Co., Inc. (The) - (Series D) | 85,320 | 1,322,460 |
Company | Shares | U.S. $ Value | ||||||
Honest Co., Inc. (The) - (Series E) | 22,322 | $ | 345,991 | |||||
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Total Preferred Stocks | 1,668,451 | |||||||
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SHORT-TERM INVESTMENTS – 1.1% |
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Investment Companies – 1.1% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(c) (f) (g) | 47,071,167 | 47,071,167 | ||||||
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Total Investments Before Security Lending Collateral for Securities Loaned – 100.3% |
| 4,366,111,805 | ||||||
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INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6% |
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Investment Companies – 1.6% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio Class AB, 0.01%(c) (f) (g) | 68,643,009 | 68,643,009 | ||||||
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Total Investments – 101.9% |
| 4,434,754,814 | ||||||
Other assets less liabilities – (1.9)% |
| (82,025,147 | ) | |||||
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Net Assets – 100.0% |
| $ | 4,352,729,667 | |||||
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(a) | Represents entire or partial securities out on loan. |
(b) | Non-income producing security. |
(c) | To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618. |
(d) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(e) | Fair valued by the Adviser. |
(f) | Affiliated investments. |
(g) | The rate shown represents the 7-day yield as of period end. |
(h) | As of April 30, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,220,432,946 and gross unrealized depreciation of investments was $(45,806,605), resulting in net unrealized appreciation of $1,174,626,341. |
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. |
Glossary:
ADR – American Depositary Receipt
ETF – Exchange Traded Fund
REIT – Real Estate Investment Trust
AB Discovery Growth Fund, Inc.
April 30, 2021 (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) |
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 Fund’s investments by the above fair value hierarchy levels as of April 30, 2021:
Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Common Stocks(a) | $ | 4,260,089,467 | $ | — | $ | — | $ | 4,260,089,467 | ||||||||
Investment Companies | 57,282,720 | — | — | 57,282,720 | ||||||||||||
Preferred Stocks | — | — | 1,668,451 | 1,668,451 | ||||||||||||
Short-Term Investments | 47,071,167 | — | — | 47,071,167 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 68,643,009 | — | — | 68,643,009 | ||||||||||||
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Total Investments in Securities | 4,433,086,363 | — | 1,668,451 | 4,434,754,814 | ||||||||||||
Other Financial Instruments(b) | — | — | — | — | ||||||||||||
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Total | $ | 4,433,086,363 | $ | — | $ | 1,668,451 | $ | 4,434,754,814 | ||||||||
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(a) | See Portfolio of Investments for sector classifications. |
(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. |
6
A summary of the Fund’s transactions in AB mutual funds for the nine months ended April 30, 2021 is as follows:
Fund | Market Value 07/31/2020 (000) | Purchases (000) | Sales Proceeds (000) | Market Value 04/30/2021 (000) | Dividend Income (000) | |||||||||||||||
Government Money Market Portfolio | $ | 46,768 | $ | 1,158,222 | $ | 1,157,919 | $ | 47,071 | $ | 10 | ||||||||||
Government Money Market Portfolio* | 71,907 | 120,517 | 123,781 | 68,643 | 2 | |||||||||||||||
Total | $ | 118,675 | $ | 1,278,739 | $ | 1,281,700 | $ | 115,714 | $ | 12 |
* | Investments of cash collateral for securities lending transactions. |
7