Ab Bond Fund NPORT-P AB All Market Real Return Portfolio (Jul 2024 report)

All Market Real Return Portfolio

Consolidated Portfolio of Investments

July 31, 2024 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 74.5%
Equity Real Estate Investment Trusts (REITs) – 29.1%
Diversified REITs – 2.0%
Charter Hall Group(a)		128,410	$	1,072,343
Covivio SA/France		16,129		830,276
Essential Properties Realty Trust, Inc.		131,550		3,892,565
KDX Realty Investment Corp.		673		693,846
Land Securities Group PLC		221,930		1,814,812
Merlin Properties Socimi SA		83,640		955,158
Stockland(a)		1,601,320		4,836,643
				14,095,643
Health Care REITs – 3.5%
Aedifica SA		17,060		1,084,378
Alexandria Real Estate Equities, Inc.		39,940		4,684,562
American Healthcare REIT, Inc.		232,390		3,704,297
Ventas, Inc.		100,120		5,450,533
Welltower, Inc.		85,300		9,489,625
				24,413,395
Hotel & Resort REITs – 1.0%
Hoshino Resorts REIT, Inc.		260		899,472
Invincible Investment Corp.(a)		576		260,899
Japan Hotel REIT Investment Corp.		2,213		1,130,445
Park Hotels & Resorts, Inc.		89,660		1,350,280
Ryman Hospitality Properties, Inc.		22,460		2,257,455
Xenia Hotels & Resorts, Inc.		76,060		1,055,713
				6,954,264
Industrial REITs – 6.3%
CapitaLand Ascendas REIT		1,429,400		2,918,203
Dream Industrial Real Estate Investment Trust		152,284		1,486,827
Goodman Group		176,150		4,066,614
Lineage, Inc.(b)		21,869		1,921,848
Mapletree Industrial Trust		456,200		791,558
Mitsui Fudosan Logistics Park, Inc.(a)		667		1,879,403
Nippon Prologis REIT, Inc.		992		1,638,980
Prologis, Inc.		147,771		18,626,535
Rexford Industrial Realty, Inc.		84,950		4,256,845
Segro PLC		263,090		3,096,729
STAG Industrial, Inc.		46,100		1,881,341
Tritax Big Box REIT PLC		1,004,790		2,135,754
				44,700,637
Office REITs – 1.3%
BXP, Inc.		23,860		1,701,456
COPT Defense Properties		93,590		2,711,302
Derwent London PLC		40,360		1,192,313
Dexus(a)		260,400		1,200,589
Japan Real Estate Investment Corp.(a)		190		659,016
Nippon Building Fund, Inc.		519		2,002,951
				9,467,627
Residential REITs – 4.2%
Comforia Residential REIT, Inc.(a)		600		1,244,744
Independence Realty Trust, Inc.		289,380		5,396,937

1

Company	Shares		U.S. $ Value
Invitation Homes, Inc.		88,540	$	3,122,806
Killam Apartment Real Estate Investment Trust		119,130		1,598,869
Mid-America Apartment Communities, Inc.		49,720		6,949,364
Sun Communities, Inc.		25,497		3,231,235
UDR, Inc.		164,440		6,589,111
UNITE Group PLC (The)		131,060		1,606,433
				29,739,499
Retail REITs – 4.6%
Acadia Realty Trust		200,640		4,341,850
Brixmor Property Group, Inc.		141,310		3,599,166
CapitaLand Integrated Commercial Trust		1,355,660		2,117,590
Frasers Centrepoint Trust		645,600		1,069,579
Japan Metropolitan Fund Invest		1,563		975,934
Klepierre SA		60,650		1,736,686
Link REIT		345,160		1,456,237
NETSTREIT Corp.		149,706		2,465,658
Phillips Edison & Co., Inc.		19,220		674,622
Realty Income Corp.		69,440		3,987,939
Region Re Ltd.		1,710,157		2,546,447
Simon Property Group, Inc.		51,432		7,891,726
				32,863,434
Specialized REITs – 6.2%
Big Yellow Group PLC		64,740		1,006,798
Digital Realty Trust, Inc.		49,380		7,381,816
Equinix, Inc.		15,080		11,916,819
Extra Space Storage, Inc.		35,540		5,672,895
Iron Mountain, Inc.		56,960		5,841,818
Public Storage		20,040		5,930,237
VICI Properties, Inc.		192,047		6,003,389
				43,753,772
				205,988,271
Energy – 9.6%
Energy Equipment & Services – 0.7%
Saipem SpA(b)		731,365		1,737,456
TechnipFMC PLC		49,380		1,456,710
Vallourec SACA(b)		95,417		1,542,761
				4,736,927
Oil, Gas & Consumable Fuels – 8.9%
BP PLC		588,380		3,477,979
Cameco Corp.		31,765		1,445,275
Chevron Corp.		28,164		4,519,477
ConocoPhillips		44,847		4,986,986
Cosan SA		74,800		176,812
Coterra Energy, Inc.		35,124		906,199
Devon Energy Corp.		21,681		1,019,657
Eni SpA		229,109		3,665,696
EOG Resources, Inc.		30,258		3,836,714
Exxon Mobil Corp.		110,598		13,115,817
Gazprom PJSC(b) (c) (d) (e)		818,956		0
Hess Corp.		18,913		2,901,633
HF Sinclair Corp.		15,742		810,241
Imperial Oil Ltd.(a)		17,488		1,252,843
LUKOIL PJSC(c) (d) (e)		20,541		0

2

Company	Shares		U.S. $ Value
Neste Oyj(a)		1,309	$	26,419
Paladin Energy Ltd.(a) (b)		21,854		163,942
REX American Resources Corp.(b)		11,966		607,993
Shell PLC		341,580		12,455,332
TotalEnergies SE		88,017		5,938,181
Uranium Energy Corp.(b)		72,764		431,491
Woodside Energy Group Ltd.		67,700		1,227,726
				62,966,413
				67,703,340
Materials – 6.9%
Chemicals – 2.1%
Air Liquide SA		1,066		194,501
Air Products and Chemicals, Inc.		1,956		516,091
Albemarle Corp.(a)		3,997		374,399
BASF SE		4,732		220,308
CF Industries Holdings, Inc.		16,990		1,297,866
CNGR Advanced Material Co., Ltd. - Class A		120,990		500,841
Corteva, Inc.		39,239		2,201,308
DSM-Firmenich AG		1,923		245,507
Ecolab, Inc.		2,154		496,906
Enchem Co., Ltd.(b)		1,623		207,651
Ganfeng Lithium Group Co., Ltd - Class A		91,880		358,042
Givaudan SA (REG)		67		328,706
Guangzhou Tinci Materials Technology Co., Ltd. - Class A		190,600		415,066
Johnson Matthey PLC		13,423		282,825
LG Chem Ltd.		943		212,066
Linde PLC		1,010		458,035
Mitsubishi Chemical Group Corp.		24,400		144,112
Novonesis (Novozymes) B		4,168		265,323
Nutrien Ltd.		19,786		1,013,043
RPM International, Inc.		10,503		1,275,694
Shanghai Putailai New Energy Technology Co., Ltd. - Class A		240,219		432,244
Sherwin-Williams Co. (The)		3,999		1,402,849
Sumitomo Chemical Co., Ltd.(a)		496,400		1,272,498
Symrise AG		2,348		295,922
Umicore SA(a)		14,315		196,603
Wacker Chemie AG		1,751		175,011
				14,783,417
Metals & Mining – 4.8%
Agnico Eagle Mines Ltd.		34,999		2,700,499
Anglo American PLC		70,664		2,142,272
Antofagasta PLC		71,499		1,861,776
APERAM SA(a)		32,606		886,019
ArcelorMittal SA		98,343		2,239,337
Barrick Gold Corp.		101,894		1,886,058
Capstone Mining Corp.(b)		221,137		1,486,366
CMOC Group Ltd. - Class H		819,000		653,201
Endeavour Mining PLC		94,446		2,109,690
Glencore PLC		591,052		3,279,652
Kinross Gold Corp.		82,996		754,427
Lundin Mining Corp.		95,803		967,294
MMC Norilsk Nickel PJSC (ADR)(b) (c) (d)		66,074		0

3

Company	Shares		U.S. $ Value
Norsk Hydro ASA		216,989	$	1,203,607
Radius Recycling, Inc.		26,159		474,001
Rio Tinto PLC		110,086		7,159,211
Sims Ltd.(a)		37,777		252,216
Teck Resources Ltd. - Class B		58,085		2,846,746
Vale SA (Sponsored ADR)		125,171		1,358,105
				34,260,477
				49,043,894
Industrials – 5.6%
Aerospace & Defense – 0.2%
BAE Systems PLC		18,222		303,908
General Electric Co.		3,928		668,546
Huntington Ingalls Industries, Inc.		1,303		364,814
				1,337,268
Building Products – 0.9%
A O Smith Corp.		7,270		618,241
Advanced Drainage Systems, Inc.		3,531		625,128
AGC, Inc.		17,900		640,636
Kingspan Group PLC		2,907		271,991
Lennox International, Inc.		1,669		973,862
Masco Corp.		14,697		1,144,162
Nibe Industrier AB - Class B		30,228		132,829
Owens Corning		10,987		2,047,757
				6,454,606
Commercial Services & Supplies – 0.4%
Casella Waste Systems, Inc. - Class A(b)		4,401		455,767
Cintas Corp.		1,233		941,938
Clean Harbors, Inc.(b)		2,634		628,815
Element Fleet Management Corp.		21,058		402,812
Rollins, Inc.		12,692		608,074
				3,037,406
Construction & Engineering – 0.3%
EMCOR Group, Inc.		1,562		586,437
MasTec, Inc.(b)		5,504		605,605
Quanta Services, Inc.		2,210		586,490
				1,778,532
Electrical Equipment – 2.0%
ABB Ltd. (REG)		7,063		392,043
Acuity Brands, Inc.		4,820		1,211,507
Array Technologies, Inc.(b)		55,225		580,967
Bloom Energy Corp. - Class A(a) (b)		36,359		492,301
BWX Technologies, Inc.		6,260		622,808
Cavendish Hydrogen ASA(b)		3,606		6,149
Contemporary Amperex Technology Co., Ltd. - Class A		13,560		349,368
Doosan Fuel Cell Co., Ltd.(b)		4,171		61,398
Ecopro BM Co., Ltd.(b)		676		89,752
Eve Energy Co., Ltd. - Class A		73,700		391,959
Fluence Energy, Inc.(a) (b)		35,520		581,818
FuelCell Energy, Inc.(a) (b)		957,946		485,104

4

Company	Shares		U.S. $ Value
Goldwind Science & Technology Co., Ltd. - Class A		440,800	$	488,688
GoodWe Technologies Co., Ltd. - Class A		40,135		335,570
Gotion High-tech Co., Ltd. - Class A		101,800		275,672
GS Yuasa Corp.		20,300		361,203
Legrand SA		2,906		313,984
NARI Technology Co., Ltd. - Class A		106,870		355,076
NEL ASA(b)		321,017		172,958
Nexans SA		3,244		419,275
NEXTracker, Inc. - Class A(b)		11,327		556,609
Ningbo Ronbay New Energy Technology Co., Ltd. - Class A		137,762		435,348
Nordex SE(b)		21,506		326,055
Plug Power, Inc.(b)		167,594		413,957
Prysmian SpA		23,983		1,648,699
Schneider Electric SE		1,221		294,304
Siemens Energy AG(b)		9,643		280,019
Signify NV(f)		13,866		343,244
SK IE Technology Co., Ltd.(b) (f)		1,015		27,824
Sungrow Power Supply Co., Ltd. - Class A		49,100		468,660
SunPower Corp.(a) (b)		448,320		382,641
Sunrun, Inc.(b)		28,053		491,769
Titan Wind Energy Suzhou Co., Ltd. - Class A		398,900		470,775
Vestas Wind Systems A/S(b)		9,249		228,885
				14,356,389
Ground Transportation – 0.0%
MTR Corp., Ltd.		32,000		103,523
Industrial Conglomerates – 0.2%
DCC PLC		7,271		500,935
Hikari Tsushin, Inc.		3,000		561,763
Hitachi Ltd.		6,200		133,961
Siemens AG (REG)		1,475		270,068
				1,466,727
Machinery – 0.7%
AGCO Corp.		5,471		516,572
Alstom SA(b)		8,975		175,844
Chart Industries, Inc.(b)		3,000		483,240
CNH Industrial NV		21,598		224,869
Cummins, Inc.		2,202		642,543
Deere & Co.		1,389		516,680
Energy Recovery, Inc.(b)		30,220		440,608
NGK Insulators Ltd.		20,800		281,112
Volvo AB - Class B		50,499		1,288,772
Xylem, Inc./NY		3,520		469,920
				5,040,160
Professional Services – 0.6%
Automatic Data Processing, Inc.		5,434		1,427,077
Robert Half, Inc.		20,186		1,295,739
Verisk Analytics, Inc.		4,553		1,191,748
				3,914,564

5

Company	Shares		U.S. $ Value
Trading Companies & Distributors – 0.1%
WW Grainger, Inc.		954	$	931,877
Transportation Infrastructure – 0.2%
Aena SME SA		6,118		1,162,412
				39,583,464
Information Technology – 5.5%
Communications Equipment – 0.2%
Motorola Solutions, Inc.		3,449		1,375,875
Electronic Equipment, Instruments & Components – 0.2%
Itron, Inc.(b)		5,521		571,092
Samsung SDI Co., Ltd.		827		194,452
Shoals Technologies Group, Inc. - Class A(b)		60,769		394,999
				1,160,543
IT Services – 0.1%
GoDaddy, Inc. - Class A(b)		4,534		659,470
Semiconductors & Semiconductor Equipment – 2.0%
Applied Materials, Inc.		2,997		635,963
ASML Holding NV		1,022		951,657
Broadcom, Inc.		4,852		779,619
Enphase Energy, Inc.(b)		3,939		453,418
First Solar, Inc.(b)		2,781		600,668
GCL Technology Holdings Ltd.(b)		2,020,000		284,210
JA Solar Technology Co., Ltd. - Class A		269,280		402,535
LONGi Green Energy Technology Co., Ltd. - Class A		169,232		340,078
Maxeon Solar Technologies Ltd.(b)		1,250,987		222,050
NVIDIA Corp.		53,643		6,277,304
QUALCOMM, Inc.		5,790		1,047,701
Shanghai Aiko Solar Energy Co., Ltd. - Class A(b)		263,300		343,874
SolarEdge Technologies, Inc.(a) (b)		15,936		459,913
Universal Display Corp.		2,390		532,062
Wolfspeed, Inc.(a) (b)		20,389		384,333
Xinyi Solar Holdings Ltd.		644,000		305,564
				14,020,949
Software – 1.9%
Autodesk, Inc.(b)		5,016		1,241,560
Constellation Software, Inc./Canada		263		829,830
DocuSign, Inc.(b)		5,363		297,539
Dropbox, Inc. - Class A(b)		50,574		1,209,730
Manhattan Associates, Inc.(b)		4,955		1,265,408
Microsoft Corp.		14,235		5,955,212
Oracle Corp.		8,492		1,184,210
ServiceNow, Inc.(b)		1,769		1,440,656
Trend Micro, Inc./Japan		1,700		81,485
				13,505,630

6

Company	Shares		U.S. $ Value
Technology Hardware, Storage & Peripherals – 1.1%
Apple, Inc.		30,592	$	6,793,872
NetApp, Inc.		9,932		1,261,165
				8,055,037
				38,777,504
Real Estate Management & Development – 4.9%
Diversified Real Estate Activities – 1.7%
Mitsubishi Estate Co., Ltd.		135,800		2,314,565
Mitsui Fudosan Co., Ltd.		610,600		6,325,730
Sumitomo Realty & Development Co., Ltd.		60,300		1,993,080
Sun Hung Kai Properties Ltd.		101,000		874,511
				11,507,886
Real Estate Development – 0.6%
Katitas Co., Ltd.		109,700		1,375,144
Sino Land Co., Ltd.		2,826,000		2,923,096
				4,298,240
Real Estate Operating Companies – 2.4%
Azrieli Group Ltd.		11,270		691,723
CapitaLand Investment Ltd./Singapore		389,700		790,130
Castellum AB(b)		170,740		2,138,810
Catena AB		21,560		1,097,580
CTP NV		80,699		1,413,845
Fastighets AB Balder - Class B(b)		184,140		1,357,910
LEG Immobilien SE		18,170		1,584,996
PSP Swiss Property AG (REG)		15,400		2,057,917
Shurgard Self Storage Ltd.		14,750		576,674
Swire Properties Ltd.		775,400		1,224,612
TAG Immobilien AG(b)		66,260		998,255
Vonovia SE		102,304		3,136,661
				17,069,113
Real Estate Services – 0.2%
Stem, Inc.(a) (b)		363,618		443,614
Unibail-Rodamco-Westfield(b)		14,570		1,089,562
				1,533,176
				34,408,415
Financials – 3.3%
Banks – 1.2%
Banco Bilbao Vizcaya Argentaria SA		66,173		693,573
Citigroup, Inc.		11,992		778,041
DBS Group Holdings Ltd.		47,900		1,312,623
First Citizens BancShares, Inc./NC - Class A		623		1,300,631
Japan Post Bank Co., Ltd.		126,300		1,314,299
NatWest Group PLC		77,857		369,391
Skandinaviska Enskilda Banken AB - Class A		27,042		415,892
Standard Chartered PLC		134,876		1,332,344
UniCredit SpA		29,277		1,202,544
				8,719,338
Capital Markets – 0.4%
Ameriprise Financial, Inc.		2,835		1,219,248
UBS Group AG (REG)		46,458		1,407,709
				2,626,957

7

Company	Shares		U.S. $ Value
Consumer Finance – 0.3%
Ally Financial, Inc.		28,739	$	1,293,543
Synchrony Financial		20,128		1,022,301
				2,315,844
Financial Services – 0.6%
Corebridge Financial, Inc.		40,839		1,206,793
Eurazeo SE		3,818		300,382
EXOR NV		6,483		664,588
Groupe Bruxelles Lambert NV		717		53,509
Mastercard, Inc. - Class A		4,206		1,950,364
				4,175,636
Insurance – 0.8%
Everest Group Ltd.		3,239		1,272,506
Globe Life, Inc.		11,338		1,051,486
Japan Post Holdings Co., Ltd.		124,200		1,315,335
Japan Post Insurance Co., Ltd.		15,500		319,107
Poste Italiane SpA		90,435		1,224,268
T&D Holdings, Inc.(a)		35,100		657,975
				5,840,677
				23,678,452
Consumer Discretionary – 3.1%
Automobiles – 0.6%
BYD Co., Ltd. - Class H		20,500		606,898
Li Auto, Inc. - Class A(b)		38,700		378,571
Lucid Group, Inc.(b)		120,511		424,199
Nissan Motor Co., Ltd.(a)		385,800		1,224,577
Rivian Automotive, Inc. - Class A(a) (b)		21,937		359,986
Tesla, Inc.(b)		5,180		1,202,123
				4,196,354
Broadline Retail – 0.4%
Amazon.com, Inc.(b)		15,762		2,947,179
Broadline Retail – 0.1%
MercadoLibre, Inc.(b)		312		520,697
Hotels, Restaurants & Leisure – 0.8%
Aristocrat Leisure Ltd.		35,917		1,279,151
Booking Holdings, Inc.		380		1,411,704
Expedia Group, Inc.(b)		7,897		1,008,210
Hyatt Hotels Corp. - Class A		7,600		1,119,708
Lottery Corp., Ltd. (The)		207,857		677,315
				5,496,088
Household Durables – 0.5%
Desarrolladora Homex SAB de CV(b)		1,590		0
Panasonic Holdings Corp.		28,200		230,991
PulteGroup, Inc.		24,649		3,253,668
				3,484,659

8

Company	Shares		U.S. $ Value
Specialty Retail – 0.5%
Dick’s Sporting Goods, Inc.		6,089	$	1,317,355
Home Depot, Inc. (The)		5,058		1,862,154
Industria de Diseno Textil SA		16,651		809,053
				3,988,562
Textiles, Apparel & Luxury Goods – 0.2%
Pandora A/S		8,148		1,277,226
				21,910,765
Health Care – 2.6%
Biotechnology – 0.7%
AbbVie, Inc.		6,640		1,230,525
Amgen, Inc.		2,629		874,064
Incyte Corp.(b)		8,098		526,937
Moderna, Inc.(b)		3,660		436,345
Neurocrine Biosciences, Inc.(b)		3,830		542,213
United Therapeutics Corp.(b)		1,658		519,435
Vertex Pharmaceuticals, Inc.(b)		1,571		778,776
				4,908,295
Health Care Equipment & Supplies – 0.2%
Demant A/S(b)		16,463		631,182
IDEXX Laboratories, Inc.(b)		2,185		1,040,322
				1,671,504
Health Care Providers & Services – 0.8%
ABIOMED, Inc. (CVR)(b) (c) (d)		1,321		1,347
Cencora, Inc.		1,400		333,032
Chartwell Retirement Residences		204,700		2,031,210
McKesson Corp.		1,702		1,050,168
Molina Healthcare, Inc.(b)		2,851		972,961
UnitedHealth Group, Inc.		800		460,928
Universal Health Services, Inc. - Class B		5,134		1,097,444
				5,947,090
Pharmaceuticals – 0.9%
Eli Lilly & Co.		3,088		2,483,586
Merck & Co., Inc.		14,198		1,606,219
Novo Nordisk A/S - Class B		15,405		2,041,053
				6,130,858
				18,657,747
Utilities – 1.8%
Electric Utilities – 0.7%
Elia Group SA/NV(a)		1,505		156,309
Enel SpA		56,481		403,228
Entergy Corp.		11,041		1,280,425
Iberdrola SA		28,921		381,994
Origin Energy Ltd.		176,726		1,212,600
Orsted AS(b)		3,854		229,714

9

Company	Shares		U.S. $ Value
Redeia Corp. SA		16,949	$	300,927
SSE PLC		6,378		154,359
Terna - Rete Elettrica Nazionale(a)		39,125		325,804
Verbund AG		6,089		488,920
				4,934,280
Independent Power and Renewable Electricity Producers – 0.9%
AES Corp. (The)		25,500		453,645
Altus Power, Inc.(b)		123,813		520,015
Boralex, Inc. - Class A		20,819		516,611
Brookfield Renewable Corp. - Class A(a)		18,209		511,854
China Longyuan Power Group Corp., Ltd. - Class H		576,000		516,475
Corp. ACCIONA Energias Renovables SA		7,902		166,889
EDP Renovaveis SA(a)		19,517		303,412
Encavis AG(b)		13,329		245,149
ERG SpA(a)		7,766		205,920
NextEra Energy Partners LP		19,992		510,796
Ormat Technologies, Inc.		6,682		518,791
RENOVA, Inc.(b)		30,900		189,401
Solaria Energia y Medio Ambiente SA(a) (b)		16,438		196,299
Sunnova Energy International, Inc.(a) (b)		44,485		314,509
Vistra Corp.		13,742		1,088,641
				6,258,407
Multi-Utilities – 0.2%
Centrica PLC		724,514		1,235,278
E.ON SE		18,429		258,432
National Grid PLC		12,846		162,992
				1,656,702
				12,849,389
Consumer Staples – 1.1%
Beverages – 0.3%
Carlsberg AS - Class B		9,854		1,189,939
Coca-Cola Co. (The)		12,512		835,051
				2,024,990
Consumer Staples Distribution & Retail – 0.2%
Costco Wholesale Corp.		436		358,392
George Weston Ltd.		6,074		940,675
				1,299,067
Food Products – 0.2%
Beyond Meat, Inc.(a) (b)		83,061		521,623
Darling Ingredients, Inc.(b)		12,606		500,836
Kerry Group PLC - Class A		2,896		270,764
Mowi ASA		36,331		613,213
				1,906,436
Household Products – 0.2%
Kimberly-Clark Corp.		9,147		1,235,302

10

Company	Shares		U.S. $ Value
Tobacco – 0.2%
Imperial Brands PLC		45,166	$	1,244,858
				7,710,653
Communication Services – 1.0%
Entertainment – 0.1%
Netflix, Inc.(b)		383		240,658
Sea Ltd. (ADR)(b)		4,031		264,837
				505,495
Interactive Media & Services – 0.7%
Alphabet, Inc. - Class A		11,485		1,970,137
Alphabet, Inc. - Class C		9,891		1,712,627
Meta Platforms, Inc. - Class A		3,312		1,572,637
				5,255,401
Media – 0.1%
Fox Corp. - Class B		25,884		917,070
Wireless Telecommunication Services – 0.1%
SoftBank Corp.		55,400		722,679
				7,400,645
Total Common Stocks (cost $464,298,797)				527,712,539
WARRANTS – 0.0%
Information Technology – 0.0%
Software – 0.0%
Constellation Software, Inc., expiring 03/31/2040(a) (b) (c) (d) (cost $0)		421		0
SHORT-TERM INVESTMENTS – 23.2%
Investment Companies – 23.2%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.20%(g) (h) (i) (cost $164,610,506)		164,610,506		164,610,506
Total Investments Before Security Lending Collateral for Securities Loaned – 97.7% (cost $628,909,303)				692,323,045
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.0%
Investment Companies – 1.0%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.20%(g) (h) (i) (cost $7,163,000)		7,163,000		7,163,000

11

	U.S. $ Value
Total Investments – 98.7% (cost $636,072,303)(j)	$	699,486,045
Other assets less liabilities – 1.3%		9,409,024
Net Assets – 100.0%	$	708,895,069

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
Brent Crude Futures		36		September 2024		$	2,888,280		$	5,692
Brent Crude Futures		171		January 2025			13,435,470			339,659
Coffee Robusta Futures		44		September 2024			1,874,840			105,079
Coffee ‘C’ Futures		54		March 2025			4,594,725			(33,652	)
Copper Futures		108		September 2024			11,276,550			(1,970,779	)
Corn Futures		361		March 2025			7,504,288			(88,963	)
Cotton No.2 Futures		104		March 2025			3,674,840			(13,283	)
Euro STOXX 50 Index Futures		52		September 2024			2,756,447			(12,493	)
FTSE 100 Index Futures		10		September 2024			1,074,399			15,193
Gasoline RBOB Futures		29		December 2024			2,588,128			82,959
Gold 100 OZ Futures		188		December 2024			46,492,400			(591,928	)
KC HRW Wheat Futures		86		March 2025			2,496,150			808
Lean Hogs Futures		148		February 2025			4,289,040			(99,124	)
Live Cattle Futures		93		February 2025			7,025,220			13,057
LME Lead Futures		30		September 2024			1,555,853			(107,736	)
LME Nickel Futures		30		September 2024			2,966,605			(477,364	)
LME Primary Aluminum Futures		164		September 2024			9,264,729			(1,397,700	)
LME Zinc Futures		82		September 2024			5,434,099			(498,546	)
Low SU Gasoil Futures		67		January 2025			4,924,500			(251,505	)
MSCI Emerging Markets Futures		113		September 2024			6,195,225			79,369
Natural Gas Futures		325		December 2024			11,323,000			(94,809	)
NY Harbor ULSD Futures		35		December 2024			3,612,819			(153,098	)
S&P 500 E-Mini Futures		60		September 2024			16,674,000			232,177
S&P/TSX 60 Index Futures		4		September 2024			802,694			31,700
Silver Futures		67		September 2024			9,694,230			(382,335	)
Soybean Futures		143		January 2025			7,432,425			(561,581	)
Soybean Meal Futures		169		January 2025			5,350,540			(387,529	)
Soybean Oil Futures		213		January 2025			5,405,940			(161,296	)
SPI 200 Futures		5		September 2024			658,936			24,970
Sugar 11 (World) Futures		260		February 2025			5,623,072			(359,026	)
TOPIX Index Futures		9		September 2024			1,680,384			16,022
Wheat (CBT) Futures		153		March 2025			4,385,363			20,020
WTI Crude Futures		38		August 2024			2,960,580			11,304
WTI Crude Futures		172		December 2024			12,882,800			(493,183	)
Sold Contracts
Bloomberg Commodity Index Futures		4,690		September 2024			45,235,050			1,865,377
LME Primary Aluminum Futures		12		September 2024			677,907			78,824
									$	(5,213,720	)

12

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		BRL	18,371		USD	3,245		08/02/2024		$	(3,413	)
Bank of America, NA		USD	3,276		BRL	18,371		08/02/2024			(28,399	)
Bank of America, NA		CHF	3,533		USD	3,972		08/08/2024			(54,358	)
Bank of America, NA		EUR	3,300		USD	3,582		08/08/2024			9,823
Bank of America, NA		USD	9,086		CHF	8,109		08/08/2024			155,374
Bank of America, NA		USD	4,710		EUR	4,346		08/08/2024			(5,617	)
Bank of America, NA		JPY	517,740		USD	3,329		08/16/2024			(134,131	)
Bank of America, NA		CAD	2,319		USD	1,696		08/23/2024			14,879
Bank of America, NA		CAD	3,661		USD	2,644		08/23/2024			(8,879	)
Bank of America, NA		TWD	98,760		USD	3,014		08/23/2024			(13,853	)
Bank of America, NA		USD	3,156		CAD	4,342		08/23/2024			(8,929	)
Bank of America, NA		GBP	2,440		USD	3,167		08/29/2024			29,507
Bank of America, NA		USD	2,729		GBP	2,102		08/29/2024			(26,062	)
Bank of America, NA		BRL	5,058		USD	893		09/04/2024			1,875
Bank of America, NA		CZK	200,664		USD	8,616		09/12/2024			61,362
Bank of America, NA		HUF	2,251,525		USD	6,155		09/12/2024			(20,886	)
Bank of America, NA		USD	2,213		COP	9,005,622		09/12/2024			(1,993	)
Bank of America, NA		USD	2,169		CZK	50,237		09/12/2024			(27,722	)
Bank of America, NA		USD	1,022		PEN	3,821		09/12/2024			(165	)
Bank of America, NA		INR	272,875		USD	3,255		09/13/2024			(324	)
Bank of America, NA		USD	13,876		INR	1,161,574		09/13/2024			(19,554	)
Bank of America, NA		AUD	7,109		USD	4,808		09/19/2024			153,873
Bank of America, NA		SEK	143,104		USD	13,605		09/19/2024			209,188
Bank of America, NA		USD	2,477		AUD	3,778		09/19/2024			(3,075	)
Bank of America, NA		USD	6,137		NOK	67,500		09/19/2024			56,392
Bank of America, NA		USD	5,084		SEK	54,355		09/19/2024			4,253
Bank of America, NA		USD	1,317		NZD	2,232		09/26/2024			11,321
Bank of America, NA		USD	8,805		NZD	14,771		09/26/2024			(13,688	)
Bank of America, NA		CNH	10,546		USD	1,454		09/27/2024			(11,731	)
Barclays Bank PLC		BRL	6,847		USD	1,209		08/02/2024			(1,272	)
Barclays Bank PLC		USD	1,233		BRL	6,847		08/02/2024			(22,042	)
Barclays Bank PLC		CHF	2,992		USD	3,374		08/08/2024			(35,539	)
Barclays Bank PLC		EUR	1,858		USD	2,010		08/08/2024			(1,752	)
Barclays Bank PLC		USD	1,224		CHF	1,079		08/08/2024			6,135
Barclays Bank PLC		USD	2,767		EUR	2,583		08/08/2024			28,843
Barclays Bank PLC		USD	1,288		EUR	1,187		08/08/2024			(3,376	)
Barclays Bank PLC		USD	14,859		JPY	2,350,112		08/16/2024			861,113
Barclays Bank PLC		MYR	120,107		USD	25,623		08/21/2024			(597,041	)
Barclays Bank PLC		USD	42,057		MYR	197,942		08/21/2024			1,154,392
Barclays Bank PLC		USD	4,210		ZAR	78,246		08/22/2024			79,711
Barclays Bank PLC		CAD	4,952		USD	3,616		08/23/2024			27,079
Barclays Bank PLC		CAD	8,703		USD	6,287		08/23/2024			(20,930	)
Barclays Bank PLC		TWD	113,418		USD	3,501		08/23/2024			23,087
Barclays Bank PLC		USD	3,559		TWD	114,447		08/23/2024			(49,657	)
Barclays Bank PLC		USD	2,760		GBP	2,175		08/29/2024			37,254
Barclays Bank PLC		USD	852		HUF	308,576		09/12/2024			(5,312	)
Barclays Bank PLC		USD	1,139		PEN	4,279		09/12/2024			5,938
Barclays Bank PLC		AUD	1,289		USD	843		09/19/2024			(737	)
Barclays Bank PLC		USD	3,358		AUD	5,033		09/19/2024			(62,468	)
Barclays Bank PLC		USD	3,871		SEK	41,866		09/19/2024			47,570
Barclays Bank PLC		NZD	6,433		USD	3,773		09/26/2024			(55,532	)
Barclays Bank PLC		USD	8,310		MXN	151,449		09/26/2024			(249,788	)
Barclays Bank PLC		USD	373		KRW	515,664		10/18/2024			4,550
Barclays Bank PLC		IDR	89,950,330		USD	5,497		10/25/2024			(27,159	)
Barclays Bank PLC		PHP	188,814		USD	3,222		10/25/2024			(9,338	)
Barclays Bank PLC		USD	7,047		IDR	114,969,040		10/25/2024			13,180
Barclays Bank PLC		USD	2,531		IDR	41,073,921		10/25/2024			(8,634	)
Barclays Bank PLC		USD	3,884		PHP	228,058		10/25/2024			18,965
Barclays Bank PLC		USD	1,132		PHP	66,113		10/25/2024			(518	)
BNP Paribas SA		CLP	9,225,727		USD	10,079		09/12/2024			286,196
Deutsche Bank AG		BRL	35,045		USD	6,426		08/02/2024			230,403
Deutsche Bank AG		BRL	12,196		USD	2,154		08/02/2024			(2,266	)
Deutsche Bank AG		USD	6,189		BRL	35,045		08/02/2024			6,511
Deutsche Bank AG		USD	2,253		BRL	12,196		08/02/2024			(96,857	)
Deutsche Bank AG		CHF	5,174		USD	5,826		08/08/2024			(70,980	)
Deutsche Bank AG		EUR	8,541		USD	9,194		08/08/2024			(52,311	)
Deutsche Bank AG		USD	3,712		CHF	3,325		08/08/2024			77,551
Deutsche Bank AG		USD	15,908		EUR	14,779		08/08/2024			90,516
Deutsche Bank AG		JPY	1,980,282		USD	12,832		08/16/2024			(414,729	)

13

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Deutsche Bank AG		USD	10,383		JPY	1,632,881		08/16/2024		$	539,542
Deutsche Bank AG		ZAR	97,772		USD	5,322		08/22/2024			(37,565	)
Deutsche Bank AG		CAD	4,875		USD	3,582		08/23/2024			48,823
Deutsche Bank AG		TWD	137,895		USD	4,299		08/23/2024			70,791
Deutsche Bank AG		USD	436		TWD	14,004		08/23/2024			(7,067	)
Deutsche Bank AG		GBP	3,447		USD	4,416		08/29/2024			(16,507	)
Deutsche Bank AG		USD	1,162		GBP	917		08/29/2024			16,988
Deutsche Bank AG		USD	697		HUF	250,422		09/12/2024			(10,084	)
Deutsche Bank AG		USD	1,022		PEN	3,819		09/12/2024			(985	)
Deutsche Bank AG		INR	648,668		USD	7,746		09/13/2024			7,931
Deutsche Bank AG		AUD	1,168		USD	788		09/19/2024			23,093
Deutsche Bank AG		SEK	19,400		USD	1,847		09/19/2024			31,270
Deutsche Bank AG		USD	1,355		AUD	2,069		09/19/2024			120
Deutsche Bank AG		USD	4,741		AUD	7,133		09/19/2024			(70,501	)
Deutsche Bank AG		USD	2,268		NOK	24,986		09/19/2024			24,901
Deutsche Bank AG		USD	644		SEK	6,912		09/19/2024			2,873
Goldman Sachs Bank USA		BRL	26,592		USD	4,696		08/02/2024			(4,941	)
Goldman Sachs Bank USA		USD	4,857		BRL	26,592		08/02/2024			(155,556	)
Goldman Sachs Bank USA		EUR	8,691		USD	9,300		08/08/2024			(108,859	)
Goldman Sachs Bank USA		JPY	654,112		USD	4,263		08/16/2024			(112,672	)
Goldman Sachs Bank USA		USD	4,947		JPY	769,623		08/16/2024			200,996
Goldman Sachs Bank USA		MYR	7,786		USD	1,648		08/21/2024			(51,701	)
Goldman Sachs Bank USA		TWD	51,853		USD	1,593		08/23/2024			3,375
Goldman Sachs Bank USA		TWD	33,688		USD	1,031		08/23/2024			(1,736	)
Goldman Sachs Bank USA		USD	18,542		CAD	25,454		08/23/2024			(94,802	)
Goldman Sachs Bank USA		GBP	2,230		USD	2,907		08/29/2024			39,038
Goldman Sachs Bank USA		PEN	14,747		USD	3,947		09/12/2024			2,352
Goldman Sachs Bank USA		PLN	2,247		USD	566		09/12/2024			(389	)
Goldman Sachs Bank USA		USD	677		CLP	618,194		09/12/2024			(20,434	)
Goldman Sachs Bank USA		INR	417,791		USD	4,979		09/13/2024			(4,534	)
Goldman Sachs Bank USA		NOK	53,552		USD	4,980		09/19/2024			66,586
Goldman Sachs Bank USA		USD	3,507		NZD	5,949		09/26/2024			33,745
Goldman Sachs Bank USA		KRW	3,521,307		USD	2,556		10/18/2024			(23,470	)
Goldman Sachs Bank USA		USD	6,358		IDR	103,169,824		10/25/2024			(21,686	)
HSBC Bank USA		CAD	1,272		USD	928		08/23/2024			6,108
HSBC Bank USA		USD	583		AUD	873		09/19/2024			(11,292	)
JPMorgan Chase Bank, NA		BRL	28,961		USD	5,121		08/02/2024			1,041
JPMorgan Chase Bank, NA		USD	5,115		BRL	28,961		08/02/2024			5,381
JPMorgan Chase Bank, NA		CHF	793		USD	896		08/08/2024			(7,925	)
JPMorgan Chase Bank, NA		EUR	2,599		USD	2,799		08/08/2024			(14,064	)
JPMorgan Chase Bank, NA		USD	3,514		CHF	3,176		08/08/2024			105,232
JPMorgan Chase Bank, NA		USD	710		EUR	657		08/08/2024			834
JPMorgan Chase Bank, NA		USD	3,319		JPY	521,862		08/16/2024			172,247
JPMorgan Chase Bank, NA		ZAR	62,400		USD	3,437		08/22/2024			16,428
JPMorgan Chase Bank, NA		ZAR	43,721		USD	2,383		08/22/2024			(14,094	)
JPMorgan Chase Bank, NA		CAD	1,646		USD	1,204		08/23/2024			11,398
JPMorgan Chase Bank, NA		TWD	12,523		USD	388		08/23/2024			3,854
JPMorgan Chase Bank, NA		USD	934		CAD	1,272		08/23/2024			(12,228	)
JPMorgan Chase Bank, NA		GBP	458		USD	587		08/29/2024			(1,439	)
JPMorgan Chase Bank, NA		USD	1,467		GBP	1,142		08/29/2024			1,605
JPMorgan Chase Bank, NA		USD	5,104		BRL	28,961		09/04/2024			(628	)
JPMorgan Chase Bank, NA		COP	3,797,407		USD	949		09/12/2024			16,661
JPMorgan Chase Bank, NA		CZK	21,625		USD	925		09/12/2024			3,028
JPMorgan Chase Bank, NA		USD	597		COP	2,432,517		09/12/2024			32
JPMorgan Chase Bank, NA		USD	4,712		PLN	18,548		09/12/2024			(34,939	)
JPMorgan Chase Bank, NA		USD	3,663		INR	306,754		09/13/2024			(3,831	)
JPMorgan Chase Bank, NA		KRW	1,710,817		USD	1,243		10/18/2024			(10,519	)
Morgan Stanley & Co. LLC		CNH	66,020		USD	9,120		09/27/2024			(57,314	)
Morgan Stanley Capital Services, Inc.		CHF	21,556		USD	24,048		08/08/2024			(519,096	)
Morgan Stanley Capital Services, Inc.		EUR	3,424		USD	3,728		08/08/2024			21,790
Morgan Stanley Capital Services, Inc.		USD	2,202		CHF	1,993		08/08/2024			69,811
Morgan Stanley Capital Services, Inc.		USD	1,618		EUR	1,513		08/08/2024			19,550
Morgan Stanley Capital Services, Inc.		USD	4,710		EUR	4,339		08/08/2024			(12,368	)
Morgan Stanley Capital Services, Inc.		JPY	1,272,183		USD	8,156		08/16/2024			(354,377	)

14

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Morgan Stanley Capital Services, Inc.		USD	4,253		JPY	668,490		08/16/2024		$	218,679
Morgan Stanley Capital Services, Inc.		MYR	46,104		USD	9,797		08/21/2024			(267,811	)
Morgan Stanley Capital Services, Inc.		USD	12,464		MYR	58,397		08/21/2024			284,077
Morgan Stanley Capital Services, Inc.		CAD	9,249		USD	6,725		08/23/2024			21,690
Morgan Stanley Capital Services, Inc.		CAD	4,217		USD	3,053		08/23/2024			(3,239	)
Morgan Stanley Capital Services, Inc.		TWD	100,623		USD	3,066		08/23/2024			(19,261	)
Morgan Stanley Capital Services, Inc.		USD	7,219		CAD	9,826		08/23/2024			(97,872	)
Morgan Stanley Capital Services, Inc.		USD	22,662		TWD	722,135		08/23/2024			(521,201	)
Morgan Stanley Capital Services, Inc.		GBP	2,754		USD	3,554		08/29/2024			13,025
Morgan Stanley Capital Services, Inc.		USD	17,879		GBP	14,095		08/29/2024			245,930
Morgan Stanley Capital Services, Inc.		USD	2,946		GBP	2,278		08/29/2024			(17,193	)
Morgan Stanley Capital Services, Inc.		CLP	540,341		USD	569		09/12/2024			(4,432	)
Morgan Stanley Capital Services, Inc.		COP	7,640,732		USD	1,909		09/12/2024			33,017
Morgan Stanley Capital Services, Inc.		CZK	22,205		USD	948		09/12/2024			1,722
Morgan Stanley Capital Services, Inc.		USD	936		HUF	339,511		09/12/2024			(4,616	)
Morgan Stanley Capital Services, Inc.		USD	362		INR	30,278		09/13/2024			(1,278	)
Morgan Stanley Capital Services, Inc.		AUD	22,722		USD	15,106		09/19/2024			228,570
Morgan Stanley Capital Services, Inc.		DKK	24,799		USD	3,648		09/19/2024			41,894
Morgan Stanley Capital Services, Inc.		NOK	5,974		USD	545		09/19/2024			(3,413	)
Morgan Stanley Capital Services, Inc.		USD	4,829		SEK	52,029		09/19/2024			41,317
Morgan Stanley Capital Services, Inc.		USD	698		SEK	7,342		09/19/2024			(10,663	)
Morgan Stanley Capital Services, Inc.		MXN	13,535		USD	729		09/26/2024			8,954
Morgan Stanley Capital Services, Inc.		USD	3,855		NZD	6,470		09/26/2024			(3,769	)
Morgan Stanley Capital Services, Inc.		CNH	121,822		USD	16,828		09/27/2024			(105,758	)
Morgan Stanley Capital Services, Inc.		USD	7,341		KRW	10,053,234		10/18/2024			23,936
NatWest Markets PLC		USD	1,624		CHF	1,429		08/08/2024			4,747
State Street Bank & Trust Co.		CHF	422		USD	469		08/08/2024			(12,217	)
State Street Bank & Trust Co.		USD	2,133		CHF	1,902		08/08/2024			34,616
State Street Bank & Trust Co.		USD	1,216		EUR	1,129		08/08/2024			6,711
State Street Bank & Trust Co.		USD	710		EUR	653		08/08/2024			(3,044	)
State Street Bank & Trust Co.		JPY	344,800		USD	2,212		08/16/2024			(94,271	)
State Street Bank & Trust Co.		ZAR	7,839		USD	428		08/22/2024			(1,460	)
State Street Bank & Trust Co.		CAD	1,239		USD	897		08/23/2024			(1,064	)
State Street Bank & Trust Co.		USD	697		CAD	959		08/23/2024			(1,586	)
State Street Bank & Trust Co.		GBP	2,897		USD	3,663		08/29/2024			(62,247	)

15

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
State Street Bank & Trust Co.		USD	738		GBP	575		08/29/2024		$	1,260
State Street Bank & Trust Co.		CZK	10,806		USD	464		09/12/2024			3,526
State Street Bank & Trust Co.		THB	358,514		USD	9,908		09/12/2024			(182,950	)
State Street Bank & Trust Co.		USD	410		CZK	9,593		09/12/2024			(580	)
State Street Bank & Trust Co.		USD	446		PLN	1,754		09/12/2024			(3,306	)
State Street Bank & Trust Co.		USD	2,033		THB	72,834		09/12/2024			17,342
State Street Bank & Trust Co.		AUD	1,298		USD	864		09/19/2024			13,897
State Street Bank & Trust Co.		SEK	10,133		USD	964		09/19/2024			15,097
State Street Bank & Trust Co.		USD	1,103		AUD	1,642		09/19/2024			(27,436	)
State Street Bank & Trust Co.		USD	217		NOK	2,329		09/19/2024			(3,277	)
State Street Bank & Trust Co.		USD	357		SEK	3,849		09/19/2024			2,795
State Street Bank & Trust Co.		USD	470		SEK	4,943		09/19/2024			(7,280	)
State Street Bank & Trust Co.		NZD	484		USD	288		09/26/2024			414
State Street Bank & Trust Co.		USD	411		CNH	2,958		09/27/2024			628
State Street Bank & Trust Co.		USD	810		HKD	6,310		10/17/2024			(773	)
State Street Bank & Trust Co.		SGD	780		USD	582		10/18/2024			(3,813	)
										$	1,103,679

INFLATION (CPI) SWAPS

					Rate Type
Swap Counterparty	Notional Amount (000)			Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Goldman Sachs International		USD	110,190	04/25/2030	1.900%	CPI#	Maturity	$	3,020,655	$	—	$	3,020,655
Goldman Sachs International		USD	46,980	03/16/2031	2.289%	CPI#	Maturity		393,489		—		393,489
								$	3,414,144	$	—	$	3,414,144

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)			Maturity Date		Unrealized Appreciation (Depreciation)
Receive Total Return on Reference Obligation
Bank of America, NA
MLABGLIN(1)	SOFR plus 0.47%	Quarterly		USD	40,208		04/15/2025	$	828,020
Citibank, NA
Bloomberg Commodity Index	0.00%	Maturity		USD	14,484		09/16/2024		(695,135	)

16

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)			Maturity Date		Unrealized Appreciation (Depreciation)
Merrill Lynch International
Bloomberg Commodity Index	0.00%	Maturity		USD	22,375		09/16/2024	$	(1,073,842	)
Pay Total Return on Reference Obligation
Bank of America, NA
FTSE EPRA/NAREIT Developed Real Estate Index	EFFR plus 0.40%	Quarterly		USD	15,054		09/16/2024		(901,819	)
UBS AG
FTSE EPRA/NAREIT Developed Real Estate Index	OBFR plus 0.48%	Quarterly		USD	27,717		09/16/2024		(1,658,068	)
FTSE EPRA/NAREIT Developed Real Estate Index	OBFR plus 0.42%	Quarterly		USD	3,747		02/18/2025		(114,415	)
FTSE EPRA/NAREIT Developed Real Estate Index	OBFR plus 0.54%	Quarterly		USD	16,023		04/15/2025		(962,206	)
FTSE EPRA/NAREIT Developed Real Estate Index	OBFR plus 0.47%	Quarterly		USD	6,285		05/15/2025		(30,882	)
								$	(4,608,347	)

(a) Represents entire or partial securities out on loan.

(b) Non-income producing security.

(c) Security in which significant unobservable inputs (Level 3) were used in determining fair value.

(d) Fair valued by the Adviser.

(e) Restricted and illiquid security.

Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Gazprom PJSC	09/28/2021 - 01/11/2022	$	3,987,580	$	0	0.00%
LUKOIL PJSC	01/07/2021 - 08/19/2022		1,631,127		0	0.00%

(f) 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 $371,068 or 0.1% of net assets.

(g) Affiliated investments.

(h) 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.

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

(j) 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 $97,857,231 and gross unrealized depreciation of investments was $(39,747,733), resulting in net unrealized appreciation of $58,109,498.

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

COP – Colombian Peso

CZK – Czech Koruna

DKK – Danish Krone

EUR – Euro

17

GBP – Great British Pound

HKD – Hong Kong Dollar

HUF – Hungarian Forint

IDR – Indonesian Rupiah

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PHP – Philippine Peso

PLN – Polish Zloty

SEK – Swedish Krona

SGD – Singapore Dollar

THB – Thailand Baht

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ADR – American Depositary Receipt

CBT – Chicago Board of Trade

CVR – Contingent Value Right

EFFR – Effective Federal Funds Rate

EPRA – European Public Real Estate Association

FTSE – Financial Times Stock Exchange

KC HRW – Kansas City Hard Red Winter

LME – London Metal Exchange

MSCI – Morgan Stanley Capital International

NAREIT – National Association of Real Estate Investment Trusts

OBFR – Overnight Bank Funding Rate

PJSC – Public Joint Stock Company

RBOB – Reformulated Gasoline Blend-Stock for Oxygen Blending (Unleaded Gas)

REG – Registered Shares

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

SPI – Share Price Index

TOPIX – Tokyo Price Index

TSX – Toronto Stock Exchange

ULSD – Ultra-Low Sulfur Diesel

WTI – West Texas Intermediate

(1) The following table represents the 50 largest equity basket holdings underlying the total return swap in MLABGLIN as of July 31, 2024.

Security Description	Shares		Current Notional		Percent of Basket’s Value
Enbridge, Inc.		71,921		USD 2,690,048		6.7	%
Vinci SA		19,752		2,257,049		5.6	%
American Tower Corp.		10,187		2,245,176		5.6	%
National Grid PLC		1,416		1,793,304		4.5	%
TC Energy Corp.		33,993		1,442,427		3.6	%
Williams Cos., Inc. (The)		27,919		1,198,852		3.0	%
Energy Transfer LP		72,057		1,172,370		2.9	%
ONEOK, Inc.		14,033		1,169,352		2.9	%
Sempra		13,972		1,118,565		2.8	%
Crown Castle, Inc.		10,081		1,109,716		2.8	%
Enterprise Products Partners LP		37,731		1,088,927		2.7	%
Transurban Group		112,687		957,336		2.4	%
Cheniere Energy, Inc.		5,172		944,528		2.3	%
Exelon Corp.		24,937		927,643		2.3	%

18

Security Description	Shares		Current Notional		Percent of Basket’s Value
Kinder Morgan, Inc.		42,517		USD   898,395		2.2	%
PG&E Corp.		48,923		892,850		2.2	%
Consolidated Edison, Inc.		7,969		777,165		1.9	%
Cellnex Telecom SA		19,912		693,383		1.7	%
Pembina Pipeline Corp.		17,856		691,641		1.7	%
Ferrovial SE		17,225		684,810		1.7	%
Fortis, Inc. (Canada)		16,337		682,595		1.7	%
Edison International		8,454		676,390		1.7	%
Targa Resources Corp.		4,823		652,446		1.6	%
SBA Communications Corp.		2,659		583,809		1.5	%
American Water Works Co., Inc.		4,091		582,401		1.4	%
Eversource Energy		7,912		513,563		1.3	%
Aena SME SA		2,667		505,288		1.3	%
Atmos Energy Corp.		3,481		445,120		1.1	%
CenterPoint Energy, Inc.		16,018		444,493		1.1	%
Terna - Rete Elettrica Naziona		50,242		418,079		1.0	%
MPLX LP		8,668		371,170		0.9	%
Snam SpA		74,001		353,696		0.9	%
Tokyo Gas Co., Ltd.		15,218		333,984		0.8	%
Hydro One Ltd.		10,407		325,970		0.8	%
United Utilities Group PLC		242		320,460		0.8	%
Severn Trent PLC		93		307,699		0.8	%
Hong Kong & China Gas Co., Ltd.		353,712		288,421		0.7	%
NiSource, Inc.		9,084		283,883		0.7	%
APA Group		49,377		255,043		0.6	%
Redeia Corporacion SA		13,892		246,087		0.6	%
Brookfield Infrastructure Partners LP		7,467		235,803		0.6	%
Auckland International Airport Ltd.		52,949		235,237		0.6	%
Grupo Aeroportuario del Pacifico SAB de CV		1,436		229,671		0.6	%
Essential Utilities, Inc.		5,619		228,404		0.6	%
Keyera Corp.		7,584		213,842		0.5	%
Grupo Aeroportuario del Sureste		700		210,298		0.5	%
Plains All American Pipeline LP		11,439		208,080		0.5	%
ENN Energy Holdings Ltd.		29,324		206,077		0.5	%
Cia de Saneamento Basico do Estado de Sao Paulo		12,900		201,625		0.5	%
China Tower Corp Ltd.		1,597,826		196,353		0.5	%
Other Long		884,830		4,698,260		11.8	%

COUNTRY BREAKDOWN¹

July 31, 2024 (unaudited)

45.5	%	United States
5.2	%	United Kingdom
4.7	%	Japan
3.7	%	Australia
3.1	%	Canada
1.8	%	France
1.5	%	Italy
1.3	%	Singapore
1.3	%	China
1.1	%	Germany
1.0	%	Hong Kong
0.9	%	Sweden
0.9	%	Denmark
4.2	%	Other
23.8	%	Short-Term Investments
100.0	%	Total Investments

¹  The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.7% or less in the following: Austria, Belgium, Brazil, Chile, Finland, Ireland, Israel, Luxembourg, Mexico, Netherlands, Norway, Russia, South Africa, South Korea, Spain and Switzerland.

19

All Market Real Return Portfolio

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.

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.

20

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:
Common Stocks:
Equity Real Estate Investment Trusts (REITs)	$	158,259,754		$	47,728,517		$	—		$	205,988,271
Energy		37,467,848			30,235,492			0	(a)		67,703,340
Materials		21,792,512			27,251,382			0	(a)		49,043,894
Industrials		25,000,082			14,583,382			—			39,583,464
Information Technology		35,873,649			2,903,855			—			38,777,504
Real Estate Management & Development		443,614			33,964,801			—			34,408,415
Financials		11,094,913			12,583,539			—			23,678,452
Consumer Discretionary		15,426,983			6,483,782			—			21,910,765
Health Care		15,984,165			2,672,235			1,347			18,657,747
Utilities		5,715,287			7,134,102			—			12,849,389
Consumer Staples		4,391,879			3,318,774			—			7,710,653
Communication Services		6,677,966			722,679			—			7,400,645
Warrants		—			—			0	(a)		—
Short-Term Investments		164,610,506			—			—			164,610,506
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		7,163,000			—			—			7,163,000
Total Investments in Securities		509,902,158			189,582,540			1,347	(a)		699,486,045
Other Financial Instruments(b):
Assets:
Futures		2,922,210			—			—			2,922,210
Forward Currency Exchange Contracts		—			6,538,109			—			6,538,109
Inflation (CPI) Swaps		—			3,414,144			—			3,414,144
Total Return Swaps		—			828,020			—			828,020
Liabilities:
Futures		(8,135,930	)		—			—			(8,135,930	)
Forward Currency Exchange Contracts		—			(5,434,430	)		—			(5,434,430	)
Total Return Swaps		—			(5,436,367	)		—			(5,436,367	)
Total	$	504,688,438		$	189,492,016		$	1,347	(a)	$	694,181,801

^(a)  The Fund held securities with zero market value at period end.

^(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 Fund’s transactions in AB mutual funds for the nine months ended July 31, 2024 is as follows:

Fund	Market Value 10/31/2023 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 07/31/2024 (000)		Dividend Income (000)
Government Money Market Portfolio	$	278,917	$	257,449	$	371,755	$	164,611	$	7,778
Government Money Market Portfolio*		8,078		83,687		84,602		7,163		336
Total	$	286,995	$	341,136	$	456,357	$	171,774	$	8,114

* Investments of cash collateral for securities lending transactions.

21