AB Global Risk Allocation Fund, Inc.
Consolidated Portfolio of Investments
August 31, 2021 (unaudited)
Principal Amount (000) | U.S. $ Value | |||||||||||
INFLATION-LINKED SECURITIES – 49.6% |
| |||||||||||
Japan – 9.5% |
| |||||||||||
Japanese Government CPI Linked Bond | JPY | 2,438,287 | $ | 22,577,455 | ||||||||
|
| |||||||||||
United States – 40.1% |
| |||||||||||
U.S. Treasury Inflation Index | U.S.$ | 15,592 | 16,849,641 | |||||||||
0.375%, 07/15/2025 (TIPS)(a) | 64,721 | 71,071,592 | ||||||||||
0.375%, 01/15/2027 (TIPS) | 6,331 | 7,065,477 | ||||||||||
|
| |||||||||||
94,986,710 | ||||||||||||
|
| |||||||||||
Total Inflation-Linked Securities |
| 117,564,165 | ||||||||||
|
| |||||||||||
Shares | ||||||||||||
COMMON STOCKS – 31.1% |
| |||||||||||
Information Technology – 5.4% |
| |||||||||||
Communications Equipment – 0.2% |
| |||||||||||
Cisco Systems, Inc./Delaware |
| 2,148 | 126,775 | |||||||||
F5 Networks, Inc.(b) |
| 462 | 94,049 | |||||||||
Juniper Networks, Inc. |
| 2,077 | 60,191 | |||||||||
Motorola Solutions, Inc. |
| 840 | 205,145 | |||||||||
Nokia Oyj(b) |
| 5,115 | 30,727 | |||||||||
Telefonaktiebolaget LM Ericsson - Class B |
| 4,594 | 54,416 | |||||||||
|
| |||||||||||
571,303 | ||||||||||||
|
| |||||||||||
Electronic Equipment, Instruments & Components – 0.4% |
| |||||||||||
Amphenol Corp. - Class A |
| 2,168 | 166,134 | |||||||||
Arrow Electronics, Inc.(b) |
| 775 | 93,945 | |||||||||
Avnet, Inc. |
| 1,566 | 63,360 | |||||||||
CDW Corp./DE |
| 1,016 | 203,820 | |||||||||
Corning, Inc. |
| 2,176 | 87,018 | |||||||||
Flex Ltd.(b) |
| 3,294 | 61,203 | |||||||||
Hexagon AB |
| 5,852 | 101,478 | |||||||||
TE Connectivity Ltd. |
| 878 | 131,893 | |||||||||
Trimble, Inc.(b) |
| 1,320 | 124,370 | |||||||||
Vontier Corp.(b) |
| 269 | 9,784 | |||||||||
|
| |||||||||||
1,043,005 | ||||||||||||
|
| |||||||||||
IT Services – 1.5% |
| |||||||||||
Accenture PLC - Class A |
| 613 | 206,311 | |||||||||
Akamai Technologies, Inc.(b) |
| 806 | 91,279 | |||||||||
Alliance Data Systems Corp. |
| 215 | 21,094 | |||||||||
Amadeus IT Group SA - Class A(b) |
| 787 | 48,068 | |||||||||
Atos SE |
| 247 | 12,842 | |||||||||
Automatic Data Processing, Inc. |
| 831 | 173,712 | |||||||||
Black Knight, Inc.(b) |
| 362 | 27,393 | |||||||||
Broadridge Financial Solutions, Inc. |
| 1,174 | 202,186 | |||||||||
Capgemini SE |
| 360 | 80,923 | |||||||||
CGI, Inc.(b) |
| 1,595 | 142,553 |
1
Company | Shares | U.S. $ Value | ||||||
Cognizant Technology Solutions Corp. - Class A | 1,099 | $ | 83,865 | |||||
DXC Technology Co.(b) | 635 | 23,317 | ||||||
Edenred | 463 | 26,261 | ||||||
Fidelity National Information Services, Inc. | 1,949 | 249,024 | ||||||
Fiserv, Inc.(b) | 2,368 | 278,927 | ||||||
FleetCor Technologies, Inc.(b) | 249 | 65,557 | ||||||
Gartner, Inc.(b) | 575 | 177,525 | ||||||
Global Payments, Inc. | 1,430 | 232,575 | ||||||
International Business Machines Corp. | 502 | 70,451 | ||||||
Mastercard, Inc. - Class A | 649 | 224,703 | ||||||
Paychex, Inc. | 1,472 | 168,500 | ||||||
PayPal Holdings, Inc.(b) | 1,263 | 364,578 | ||||||
Sabre Corp.(b) (c) | 2,420 | 27,177 | ||||||
VeriSign, Inc.(b) | 824 | 178,198 | ||||||
Visa, Inc. - Class A(c) | 718 | 164,494 | ||||||
Western Union Co. (The) - Class W | 3,117 | 67,452 | ||||||
Worldline SA/France(b) (d) | 725 | 64,556 | ||||||
|
| |||||||
3,473,521 | ||||||||
|
| |||||||
Semiconductors & Semiconductor Equipment – 1.2% |
| |||||||
Advanced Micro Devices, Inc.(b) | 2,015 | 223,101 | ||||||
Analog Devices, Inc. | 1,479 | 240,990 | ||||||
Applied Materials, Inc. | 967 | 130,671 | ||||||
ASML Holding NV | 269 | 224,343 | ||||||
Broadcom, Inc. | 205 | 101,928 | ||||||
Infineon Technologies AG | 1,599 | 68,082 | ||||||
Intel Corp. | 1,884 | 101,849 | ||||||
KLA Corp. | 609 | 207,036 | ||||||
Lam Research Corp. | 384 | 232,251 | ||||||
Marvell Technology, Inc. | 2,554 | 156,279 | ||||||
Microchip Technology, Inc. | 789 | 124,157 | ||||||
Micron Technology, Inc.(b) | 1,172 | 86,376 | ||||||
NVIDIA Corp. | 1,024 | 229,222 | ||||||
NXP Semiconductors NV | 516 | 111,007 | ||||||
Qorvo, Inc.(b) | 444 | 83,485 | ||||||
QUALCOMM, Inc. | 984 | 144,343 | ||||||
Skyworks Solutions, Inc. | 431 | 79,071 | ||||||
STMicroelectronics NV | 1,365 | 60,806 | ||||||
Texas Instruments, Inc. | 847 | 161,701 | ||||||
Xilinx, Inc. | 811 | 126,184 | ||||||
|
| |||||||
2,892,882 | ||||||||
|
| |||||||
Software – 1.8% |
| |||||||
Adobe, Inc.(b) | 449 | 298,001 | ||||||
ANSYS, Inc.(b) | 635 | 232,004 | ||||||
Autodesk, Inc.(b) | 395 | 122,486 | ||||||
BlackBerry Ltd.(b) | 2,745 | 31,287 | ||||||
Cadence Design Systems, Inc.(b) | 1,796 | 293,610 | ||||||
CDK Global, Inc. | 1,015 | 42,224 | ||||||
Cerence, Inc.(b) (c) | 343 | 37,195 | ||||||
Citrix Systems, Inc. | 604 | 62,133 | ||||||
Constellation Software, Inc./Canada | 106 | 179,644 | ||||||
Dassault Systemes SE | 3,230 | 184,485 | ||||||
Fortinet, Inc.(b) | 1,023 | 322,388 | ||||||
Intuit, Inc. | 570 | 322,683 |
2
Company | Shares | U.S. $ Value | ||||||
Micro Focus International PLC (ADR) | 345 | $ | 2,084 | |||||
Microsoft Corp. | 995 | 300,371 | ||||||
NortonLifeLock, Inc. | 1,835 | 48,738 | ||||||
Nuance Communications, Inc.(b) | 2,749 | 151,332 | ||||||
Open Text Corp. | 1,658 | 90,952 | ||||||
Oracle Corp. | 1,536 | 136,904 | ||||||
Palo Alto Networks, Inc.(b) | 297 | 136,929 | ||||||
Sage Group PLC (The) | 5,404 | 55,188 | ||||||
salesforce.com, Inc.(b) | 534 | 141,654 | ||||||
SAP SE | 466 | 69,998 | ||||||
ServiceNow, Inc.(b) | 428 | 275,478 | ||||||
Splunk, Inc.(b) | 575 | 87,900 | ||||||
Synopsys, Inc.(b) | 974 | 323,602 | ||||||
VMware, Inc. - Class A(b) (c) | 527 | 78,455 | ||||||
Workday, Inc. - Class A(b) | 384 | 104,893 | ||||||
|
| |||||||
4,132,618 | ||||||||
|
| |||||||
Technology Hardware, Storage & Peripherals – 0.3% |
| |||||||
Apple, Inc. | 1,628 | 247,179 | ||||||
Dell Technologies, Inc. - Class C(b) | 1,368 | 133,325 | ||||||
Hewlett Packard Enterprise Co. | 3,043 | 47,045 | ||||||
HP, Inc. | 2,579 | 76,700 | ||||||
NetApp, Inc. | 1,082 | 96,222 | ||||||
Seagate Technology Holdings PLC | 978 | 85,663 | ||||||
Topicus.com, Inc.(b) | 197 | 19,991 | ||||||
Western Digital Corp.(b) | 465 | 29,388 | ||||||
Xerox Holdings Corp. | 1,717 | 38,650 | ||||||
|
| |||||||
774,163 | ||||||||
|
| |||||||
12,887,492 | ||||||||
|
| |||||||
Financials – 4.7% |
| |||||||
Banks – 1.2% |
| |||||||
ABN AMRO Bank NV (GDR)(b) (d) | 1,125 | 15,673 | ||||||
Agricultural Bank of China Ltd. - Class H | 420,000 | 140,800 | ||||||
Banco Bilbao Vizcaya Argentaria SA(b) | 3,189 | 20,872 | ||||||
Banco de Sabadell SA(b) | 16,277 | 11,604 | ||||||
Banco Santander SA(b) | 3,967 | 14,627 | ||||||
Bank of America Corp. | 1,350 | 56,362 | ||||||
Bank of China Ltd. - Class H | 357,000 | 125,105 | ||||||
Bank of Communications Co., Ltd. - Class H | 226,000 | 129,792 | ||||||
Bank of Ireland Group PLC(b) | 2,334 | 14,609 | ||||||
Bank of Montreal | 747 | 74,342 | ||||||
Bank of Nova Scotia (The) | 862 | 53,395 | ||||||
Bankinter SA | 3,395 | 19,869 | ||||||
Barclays PLC | 10,110 | 25,633 | ||||||
BNP Paribas SA | 331 | 20,969 | ||||||
CaixaBank SA | 8,772 | 27,250 | ||||||
Canadian Imperial Bank of Commerce | 584 | 67,183 | ||||||
China CITIC Bank Corp., Ltd. - Class H | 265,000 | 121,827 | ||||||
China Construction Bank Corp. - Class H | 233,000 | 167,890 | ||||||
China Everbright Bank Co., Ltd. - Class H | 345,000 | 123,656 | ||||||
China Minsheng Banking Corp., Ltd. - Class H | 212,400 | 88,705 | ||||||
CIT Group, Inc. | 697 | 38,628 | ||||||
Citigroup, Inc. | 564 | 40,557 | ||||||
Citizens Financial Group, Inc. | 745 | 32,624 |
3
Company | Shares | U.S. $ Value | ||||||
Comerica, Inc. | 403 | $ | 29,786 | |||||
Commerzbank AG(b) | 2,045 | 12,798 | ||||||
Credit Agricole SA | 1,641 | 23,686 | ||||||
Danske Bank A/S | 858 | 14,398 | ||||||
DNB Bank ASA | 1,818 | 38,372 | ||||||
Erste Group Bank AG | 821 | 32,782 | ||||||
Fifth Third Bancorp | 1,167 | 45,350 | ||||||
First Republic Bank/CA | 402 | 79,974 | ||||||
HSBC Holdings PLC | 5,317 | 28,078 | ||||||
Huntington Bancshares, Inc./OH | 2,387 | 37,070 | ||||||
ING Groep NV | 1,574 | 21,712 | ||||||
Intesa Sanpaolo SpA | 18,206 | 51,520 | ||||||
JPMorgan Chase & Co. | 448 | 71,658 | ||||||
KBC Group NV | 411 | 34,540 | ||||||
KeyCorp | 1,685 | 34,239 | ||||||
Lloyds Banking Group PLC | 36,308 | 21,736 | ||||||
M&T Bank Corp. | 381 | 53,344 | ||||||
National Bank of Canada | 1,132 | 89,849 | ||||||
Natwest Group PLC | 6,922 | 20,212 | ||||||
Nedbank Group Ltd.(b) | 313 | 3,986 | ||||||
Nordea Bank Abp | 3,090 | 36,292 | ||||||
Nordea Bank Abp (Finland) | 88 | 1,032 | ||||||
People’s United Financial, Inc. | 2,269 | 37,280 | ||||||
PNC Financial Services Group, Inc. (The) | 291 | 55,610 | ||||||
Raiffeisen Bank International AG | 1,044 | 25,031 | ||||||
Regions Financial Corp. | 1,804 | 36,856 | ||||||
Royal Bank of Canada | 718 | 73,755 | ||||||
Signature Bank/New York NY | 215 | 55,756 | ||||||
Skandinaviska Enskilda Banken AB - Class A | 3,315 | 44,461 | ||||||
Societe Generale SA | 422 | 13,282 | ||||||
Standard Chartered PLC | 2,940 | 18,334 | ||||||
Svenska Handelsbanken AB - Class A | 2,923 | 32,845 | ||||||
Swedbank AB - Class A | 1,696 | 32,695 | ||||||
Toronto-Dominion Bank (The) | 1,045 | 67,861 | ||||||
Truist Financial Corp. | 1,653 | 94,320 | ||||||
UniCredit SpA | 1,079 | 13,454 | ||||||
US Bancorp | 800 | 45,912 | ||||||
Wells Fargo & Co. | 690 | 31,533 | ||||||
|
| |||||||
2,893,371 | ||||||||
|
| |||||||
Capital Markets – 1.3% |
| |||||||
3i Group PLC | 4,463 | 82,079 | ||||||
Abrdn PLC | 11,793 | 43,088 | ||||||
Affiliated Managers Group, Inc. | 225 | 38,275 | ||||||
Ameriprise Financial, Inc. | 250 | 68,228 | ||||||
Bank of New York Mellon Corp. (The) | 853 | 47,103 | ||||||
BlackRock, Inc. - Class A | 109 | 102,819 | ||||||
Brookfield Asset Management, Inc.(c) | 41 | 2,278 | ||||||
Brookfield Asset Management, Inc. - Class A | 1,867 | 103,868 | ||||||
Charles Schwab Corp. (The) | 1,564 | 113,937 | ||||||
CI Financial Corp. | 2,261 | 43,889 | ||||||
CITIC Securities Co., Ltd. - Class H | 80,000 | 202,622 | ||||||
CME Group, Inc. - Class A | 377 | 76,049 | ||||||
Credit Suisse Group AG | 1,310 | 13,878 | ||||||
Deutsche Bank AG(b) | 1,113 | 13,764 | ||||||
Deutsche Boerse AG | 355 | 61,222 | ||||||
Franklin Resources, Inc. | 837 | 27,152 | ||||||
Goldman Sachs Group, Inc. (The) | 162 | 66,989 | ||||||
Haitong Securities Co., Ltd. - Class H | 98,800 | 91,284 |
4
Company | Shares | U.S. $ Value | ||||||
Hargreaves Lansdown PLC | 1,868 | $ | 38,794 | |||||
IGM Financial, Inc. | 1,289 | 47,007 | ||||||
Intercontinental Exchange, Inc. | 727 | 86,898 | ||||||
Invesco Ltd. | 1,109 | 28,080 | ||||||
Investec PLC | 4,737 | 19,922 | ||||||
Jefferies Financial Group, Inc. | 1,464 | 54,109 | ||||||
Julius Baer Group Ltd. | 634 | 43,273 | ||||||
London Stock Exchange Group PLC | 1,249 | 136,820 | ||||||
Moody’s Corp. | 325 | 123,750 | ||||||
Morgan Stanley | 1,891 | 197,477 | ||||||
MSCI, Inc. - Class A | 361 | 229,083 | ||||||
Nasdaq, Inc. | 753 | 147,422 | ||||||
Ninety-One PLC | 2,368 | 8,341 | ||||||
Northern Trust Corp. | 412 | 48,830 | ||||||
Onex Corp. | 648 | 45,403 | ||||||
Partners Group Holding AG | 68 | 120,564 | ||||||
Quilter PLC(d) | 3,254 | 6,763 | ||||||
Raymond James Financial, Inc. | 418 | 58,478 | ||||||
S&P Global, Inc. | 311 | 138,028 | ||||||
Schroders PLC | 944 | 49,079 | ||||||
SEI Investments Co. | 695 | 43,653 | ||||||
St. James’s Place PLC | 2,130 | 47,168 | ||||||
State Street Corp. | 421 | 39,115 | ||||||
T Rowe Price Group, Inc. | 627 | 140,367 | ||||||
UBS Group AG | 1,814 | 30,260 | ||||||
|
| |||||||
3,127,208 | ||||||||
|
| |||||||
Consumer Finance – 0.2% |
| |||||||
Ally Financial, Inc. | 1,228 | 64,961 | ||||||
American Express Co. | 516 | 85,635 | ||||||
Capital One Financial Corp. | 376 | 62,405 | ||||||
Discover Financial Services | 568 | 72,829 | ||||||
Navient Corp.(c) | 1,339 | 31,078 | ||||||
Provident Financial PLC(b) | 1,368 | 6,706 | ||||||
Synchrony Financial | 1,033 | 51,392 | ||||||
|
| |||||||
375,006 | ||||||||
|
| |||||||
Diversified Financial Services – 0.3% |
| |||||||
Berkshire Hathaway, Inc. - Class B(b) | 231 | 66,013 | ||||||
Element Fleet Management Corp. | 3,194 | 35,215 | ||||||
EXOR NV | 480 | 40,048 | ||||||
Groupe Bruxelles Lambert SA | 1,242 | 142,291 | ||||||
IHS Markit Ltd. | 1,109 | 133,745 | ||||||
Industrivarden AB - Class C | 1,828 | 63,746 | ||||||
Investor AB | 3,608 | 86,298 | ||||||
Kinnevik AB(b) | 1,368 | 53,600 | ||||||
L E Lundbergforetagen AB - Class B | 856 | 54,692 | ||||||
M&G PLC | 1,555 | 4,405 | ||||||
Voya Financial, Inc. | 775 | 50,360 | ||||||
Wendel SE | 294 | 42,664 | ||||||
|
| |||||||
773,077 | ||||||||
|
| |||||||
Insurance – 1.6% |
| |||||||
Admiral Group PLC | 1,243 | 61,760 | ||||||
Aegon NV | 4,545 | 22,442 | ||||||
Aflac, Inc. | 1,388 | 78,672 | ||||||
Ageas SA/NV | 832 | 41,577 | ||||||
Alleghany Corp.(b) | 66 | 44,662 |
5
Company | Shares | U.S. $ Value | ||||||
Allianz SE | 222 | $ | 52,117 | |||||
Allstate Corp. (The) | 643 | 86,985 | ||||||
American International Group, Inc. | 720 | 39,283 | ||||||
Aon PLC | 435 | 124,784 | ||||||
Arch Capital Group Ltd.(b) | 1,779 | 73,117 | ||||||
Arthur J Gallagher & Co. | 958 | 137,588 | ||||||
Assicurazioni Generali SpA | 1,915 | 39,068 | ||||||
Assurant, Inc. | 420 | 71,446 | ||||||
Aviva PLC | 5,185 | 28,819 | ||||||
Axis Capital Holdings Ltd. | 710 | 36,331 | ||||||
Baloise Holding AG | 288 | 45,925 | ||||||
Brighthouse Financial, Inc.(b) | 60 | 2,938 | ||||||
Brookfield Asset Management Reinsurance Partners Ltd.(b) | 12 | 733 | ||||||
China Life Insurance Co., Ltd. - Class H | 44,000 | 73,777 | ||||||
Chubb Ltd. | 371 | 68,234 | ||||||
Cincinnati Financial Corp. | 705 | 86,997 | ||||||
CNP Assurances | 1,623 | 27,810 | ||||||
Direct Line Insurance Group PLC | 8,791 | 37,347 | ||||||
Everest Re Group Ltd. | 214 | 56,689 | ||||||
Fairfax Financial Holdings Ltd. | 85 | 37,625 | ||||||
Fidelity National Financial, Inc. | 1,183 | 57,766 | ||||||
Gjensidige Forsikring ASA | 2,409 | 56,314 | ||||||
Globe Life, Inc. | 598 | 57,450 | ||||||
Great-West Lifeco, Inc. | 2,017 | 62,397 | ||||||
Hannover Rueck SE | 383 | 70,482 | ||||||
Hartford Financial Services Group, Inc. (The) | 878 | 59,019 | ||||||
iA Financial Corp., Inc. | 1,008 | 55,895 | ||||||
Intact Financial Corp. | 960 | 130,747 | ||||||
Legal & General Group PLC | 13,473 | 50,047 | ||||||
Lincoln National Corp. | 446 | 30,618 | ||||||
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros | 3,395 | 7,179 | ||||||
Loews Corp. | 1,014 | 56,652 | ||||||
Manulife Financial Corp. | 2,171 | 42,279 | ||||||
Mapfre SA | 8,898 | 19,201 | ||||||
Markel Corp.(b) | 39 | 49,540 | ||||||
Marsh & McLennan Cos., Inc. | 753 | 118,372 | ||||||
MetLife, Inc. | 661 | 40,982 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 212 | 61,876 | ||||||
New China Life Insurance Co., Ltd. - Class H | 37,000 | 108,919 | ||||||
NN Group NV | 985 | 51,095 | ||||||
Old Mutual Ltd. | 9,763 | 10,220 | ||||||
Poste Italiane SpA(d) | 5,111 | 69,295 | ||||||
Power Corp. of Canada | 3,725 | 128,551 | ||||||
Principal Financial Group, Inc. | 589 | 39,351 | ||||||
Progressive Corp. (The) | 1,147 | 110,502 | ||||||
Prudential Financial, Inc. | 336 | 35,576 | ||||||
Prudential PLC | 1,555 | 32,398 | ||||||
Reinsurance Group of America, Inc. - Class A | 376 | 43,548 | ||||||
RenaissanceRe Holdings Ltd. | 388 | 60,811 | ||||||
Sampo Oyj - Class A | 886 | 45,784 | ||||||
SCOR SE | 791 | 24,276 | ||||||
Sun Life Financial, Inc. | 1,344 | 69,200 | ||||||
Swiss Life Holding AG | 132 | 68,802 | ||||||
Swiss Re AG | 469 | 43,121 | ||||||
Travelers Cos., Inc. (The) | 464 | 74,105 | ||||||
Trisura Group Ltd.(b) | 28 | 1,008 |
6
Company | Shares | U.S. $ Value | ||||||
Tryg A/S | 4,038 | $ | 99,982 | |||||
UnipolSai Assicurazioni SpA | 12,165 | 34,994 | ||||||
Unum Group | 830 | 22,095 | ||||||
Willis Towers Watson PLC | 352 | 77,693 | ||||||
WR Berkley Corp. | 1,102 | 82,992 | ||||||
Zurich Insurance Group AG | 154 | 67,574 | ||||||
|
| |||||||
3,805,434 | ||||||||
|
| |||||||
Mortgage Real Estate Investment Trusts (REITs) – 0.1% |
| |||||||
AGNC Investment Corp. | 2,408 | 39,274 | ||||||
Annaly Capital Management, Inc. | 3,658 | 31,788 | ||||||
|
| |||||||
71,062 | ||||||||
|
| |||||||
Thrifts & Mortgage Finance – 0.0% |
| |||||||
New York Community Bancorp, Inc. | 3,312 | 41,466 | ||||||
|
| |||||||
11,086,624 | ||||||||
|
| |||||||
Health Care – 3.6% |
| |||||||
Biotechnology – 0.3% |
| |||||||
AbbVie, Inc. | 1,379 | 166,556 | ||||||
Alkermes PLC(b) | 331 | 10,347 | ||||||
Amgen, Inc. | 320 | 72,170 | ||||||
Biogen, Inc.(b) | 169 | 57,276 | ||||||
BioMarin Pharmaceutical, Inc.(b) | 341 | 28,716 | ||||||
Genmab A/S(b) | 279 | 132,171 | ||||||
Gilead Sciences, Inc. | 703 | 51,164 | ||||||
Grifols SA | 2,271 | 55,518 | ||||||
Idorsia Ltd.(b) | 213 | 5,024 | ||||||
Incyte Corp.(b) | 189 | 14,457 | ||||||
Regeneron Pharmaceuticals, Inc.(b) | 66 | 44,444 | ||||||
Seagen, Inc.(b) | 303 | 50,783 | ||||||
United Therapeutics Corp.(b) | 217 | 46,629 | ||||||
Vertex Pharmaceuticals, Inc.(b) | 246 | 49,271 | ||||||
|
| |||||||
784,526 | ||||||||
|
| |||||||
Health Care Equipment & Supplies – 1.3% |
| |||||||
Abbott Laboratories | 1,269 | 160,364 | ||||||
Alcon, Inc. | 184 | 15,154 | ||||||
Align Technology, Inc.(b) | 301 | 213,409 | ||||||
Arjo AB - Class B | 2,759 | 35,394 | ||||||
Baxter International, Inc. | 1,040 | 79,269 | ||||||
Becton Dickinson and Co. | 362 | 91,115 | ||||||
Boston Scientific Corp.(b) | 1,769 | 79,870 | ||||||
Coloplast A/S - Class B | 742 | 128,558 | ||||||
Cooper Cos., Inc. (The) | 246 | 110,875 | ||||||
Danaher Corp. | 776 | 251,548 | ||||||
Demant A/S(b) | 2,432 | 137,950 | ||||||
DENTSPLY SIRONA, Inc. | 989 | 61,021 | ||||||
DexCom, Inc.(b) | 430 | 227,651 | ||||||
Edwards Lifesciences Corp.(b) | 960 | 112,493 | ||||||
Getinge AB - Class B | 2,759 | 113,242 | ||||||
Hologic, Inc.(b) | 1,129 | 89,360 | ||||||
IDEXX Laboratories, Inc.(b) | 330 | 222,341 | ||||||
Intuitive Surgical, Inc.(b) | 183 | 192,802 |
7
Company | Shares | U.S. $ Value | ||||||
Koninklijke Philips NV | 488 | $ | 22,489 | |||||
Medtronic PLC | 683 | 91,167 | ||||||
ResMed, Inc. | 778 | 226,032 | ||||||
Smith & Nephew PLC | 4,175 | 79,947 | ||||||
Sonova Holding AG | 435 | 167,635 | ||||||
Stryker Corp. | 486 | 134,671 | ||||||
Teleflex, Inc. | 270 | 106,774 | ||||||
Zimmer Biomet Holdings, Inc. | 375 | 56,419 | ||||||
|
| |||||||
3,207,550 | ||||||||
|
| |||||||
Health Care Providers & Services – 0.6% |
| |||||||
AmerisourceBergen Corp. - Class A | 482 | 58,905 | ||||||
Anthem, Inc. | 274 | 102,785 | ||||||
Cardinal Health, Inc. | 702 | 36,848 | ||||||
Centene Corp.(b) | 956 | 60,209 | ||||||
Cigna Corp. | 492 | 104,132 | ||||||
Covetrus, Inc.(b) | 280 | 6,325 | ||||||
CVS Health Corp. | 1,161 | 100,299 | ||||||
DaVita, Inc.(b) | 632 | 82,647 | ||||||
Fresenius Medical Care AG & Co. KGaA | 755 | 58,052 | ||||||
Fresenius SE & Co. KGaA | 693 | 36,031 | ||||||
HCA Healthcare, Inc. | 514 | 130,032 | ||||||
Henry Schein, Inc.(b) | 702 | 53,064 | ||||||
Humana, Inc. | 169 | 68,516 | ||||||
Laboratory Corp. of America Holdings(b) | 407 | 123,476 | ||||||
McKesson Corp. | 241 | 49,198 | ||||||
Mediclinic International PLC(b) | 5,230 | 22,538 | ||||||
MEDNAX, Inc.(b) | 637 | 20,454 | ||||||
Patterson Cos., Inc. | 1,039 | 31,835 | ||||||
Quest Diagnostics, Inc. | 556 | 84,973 | ||||||
UnitedHealth Group, Inc. | 310 | 129,044 | ||||||
Universal Health Services, Inc. - Class B | 362 | 56,385 | ||||||
|
| |||||||
1,415,748 | ||||||||
|
| |||||||
Health Care Technology – 0.0% |
| |||||||
Cerner Corp. | 701 | 53,522 | ||||||
|
| |||||||
Life Sciences Tools & Services – 0.6% |
| |||||||
Agilent Technologies, Inc. | 816 | 143,183 | ||||||
Eurofins Scientific SE | 1,160 | 164,593 | ||||||
Illumina, Inc.(b) | 183 | 83,660 | ||||||
IQVIA Holdings, Inc.(b) | 646 | 167,786 | ||||||
Lonza Group AG | 278 | 235,112 | ||||||
Mettler-Toledo International, Inc.(b) | 105 | 163,047 | ||||||
QIAGEN NV(b) | 1,521 | 84,175 | ||||||
Thermo Fisher Scientific, Inc. | 346 | 192,013 | ||||||
Waters Corp.(b) | 286 | 118,410 | ||||||
|
| |||||||
1,351,979 | ||||||||
|
| |||||||
Pharmaceuticals – 0.8% |
| |||||||
AstraZeneca PLC | 729 | 85,252 | ||||||
AstraZeneca PLC (Sponsored ADR) | 492 | 28,674 | ||||||
Bausch Health Cos., Inc.(b) | 834 | 24,300 | ||||||
Bayer AG | 526 | 29,262 | ||||||
Bristol-Myers Squibb Co. | 1,220 | 81,569 | ||||||
Eli Lilly & Co. | 693 | 178,995 |
8
Company | Shares | U.S. $ Value | ||||||
GlaxoSmithKline PLC | 3,649 | $ | 73,402 | |||||
Hikma Pharmaceuticals PLC | 2,641 | 92,183 | ||||||
Jazz Pharmaceuticals PLC(b) | 223 | 29,371 | ||||||
Johnson & Johnson | 554 | 95,914 | ||||||
Mallinckrodt PLC(b) | 476 | 100 | ||||||
Merck & Co., Inc. | 863 | 65,838 | ||||||
Merck KGaA | 536 | 127,352 | ||||||
Novartis AG | 923 | 85,369 | ||||||
Novo Nordisk A/S - Class B | 1,284 | 128,541 | ||||||
Organon & Co. | 86 | 2,914 | ||||||
Orion Oyj - Class B | 948 | 38,669 | ||||||
Perrigo Co. PLC | 428 | 17,527 | ||||||
Pfizer, Inc. | 2,016 | 92,877 | ||||||
Roche Holding AG | 268 | 107,617 | ||||||
Sanofi | 604 | 62,598 | ||||||
Takeda Pharmaceutical Co., Ltd. (Sponsored ADR)(c) | 1,184 | 19,642 | ||||||
UCB SA | 558 | 63,840 | ||||||
Viatris, Inc. | 1,277 | 18,682 | ||||||
Vifor Pharma AG | 380 | 54,107 | ||||||
Zoetis, Inc. | 996 | 203,742 | ||||||
|
| |||||||
1,808,337 | ||||||||
|
| |||||||
8,621,662 | ||||||||
|
| |||||||
Industrials – 3.3% |
| |||||||
Aerospace & Defense – 0.5% |
| |||||||
Airbus SE(b) | 181 | 24,760 | ||||||
Babcock International Group PLC(b) | 1,434 | 7,161 | ||||||
BAE Systems PLC | 2,639 | 20,617 | ||||||
Boeing Co. (The)(b) | 219 | 48,070 | ||||||
Bombardier, Inc. - Class B(b) | 7,317 | 10,671 | ||||||
CAE, Inc.(b) | 2,809 | 81,110 | ||||||
Dassault Aviation SA | 11 | 12,419 | ||||||
General Dynamics Corp. | 241 | 48,275 | ||||||
Howmet Aerospace, Inc. | 824 | 26,162 | ||||||
Huntington Ingalls Industries, Inc. | 180 | 36,751 | ||||||
L3Harris Technologies, Inc. | 1,019 | 237,437 | ||||||
Leonardo SpA(b) | 684 | 5,569 | ||||||
Lockheed Martin Corp. | 198 | 71,240 | ||||||
Meggitt PLC(b) | 2,664 | 30,406 | ||||||
Northrop Grumman Corp. | 198 | 72,805 | ||||||
Raytheon Technologies Corp. | 1,280 | 108,493 | ||||||
Rolls-Royce Holdings PLC(b) | 5,507 | 8,685 | ||||||
Safran SA | 174 | 21,828 | ||||||
Teledyne Technologies, Inc.(b) | 130 | 60,239 | ||||||
Textron, Inc. | 720 | 52,322 | ||||||
Thales SA | 192 | 19,501 | ||||||
TransDigm Group, Inc.(b) | 93 | 56,495 | ||||||
|
| |||||||
1,061,016 | ||||||||
|
| |||||||
Air Freight & Logistics – 0.2% |
| |||||||
CH Robinson Worldwide, Inc. | 534 | 48,092 | ||||||
Deutsche Post AG | 500 | 35,155 | ||||||
DSV PANALPINA A/S | 295 | 75,143 | ||||||
Expeditors International of Washington, Inc. | 744 | 92,732 | ||||||
FedEx Corp. | 189 | 50,215 |
9
Company | Shares | U.S. $ Value | ||||||
Kuehne & Nagel International AG | 139 | $ | 50,800 | |||||
Royal Mail PLC | 3,581 | 24,389 | ||||||
United Parcel Service, Inc. - Class B | 471 | 92,142 | ||||||
|
| |||||||
468,668 | ||||||||
|
| |||||||
Airlines – 0.0% |
| |||||||
American Airlines Group, Inc.(b) | 507 | 10,109 | ||||||
Delta Air Lines, Inc.(b) | 566 | 22,889 | ||||||
Deutsche Lufthansa AG(b) | 656 | 6,572 | ||||||
easyJet PLC(b) | 784 | 8,584 | ||||||
International Consolidated Airlines Group SA(b) | 4,711 | 10,378 | ||||||
Southwest Airlines Co.(b) | 528 | 26,284 | ||||||
United Airlines Holdings, Inc.(b) | 315 | 14,651 | ||||||
|
| |||||||
99,467 | ||||||||
|
| |||||||
Building Products – 0.2% |
| |||||||
A O Smith Corp. | 711 | 51,704 | ||||||
Assa Abloy AB - Class B | 848 | 27,137 | ||||||
Carrier Global Corp. | 587 | 33,811 | ||||||
Cie de Saint-Gobain | 254 | 18,413 | ||||||
Fortune Brands Home & Security, Inc. | 681 | 66,309 | ||||||
Geberit AG | 50 | 41,755 | ||||||
Johnson Controls International PLC | 1,024 | 76,595 | ||||||
Masco Corp. | 1,061 | 64,424 | ||||||
Otis Worldwide Corp. | 293 | 27,021 | ||||||
Resideo Technologies, Inc.(b) | 63 | 2,031 | ||||||
|
| |||||||
409,200 | ||||||||
|
| |||||||
Commercial Services & Supplies – 0.3% |
| |||||||
Cintas Corp. | 386 | 152,767 | ||||||
G4S PLC(b) (e) (f) | 3,969 | 13,369 | ||||||
ISS A/S(b) | 413 | 9,504 | ||||||
Republic Services, Inc. - Class A | 966 | 119,910 | ||||||
Securitas AB - Class B | 1,405 | 23,373 | ||||||
Societe BIC SA | 160 | 10,652 | ||||||
Stericycle, Inc.(b) | 372 | 25,891 | ||||||
Waste Connections, Inc. | 891 | 115,126 | ||||||
Waste Management, Inc. | 916 | 142,081 | ||||||
|
| |||||||
612,673 | ||||||||
|
| |||||||
Construction & Engineering – 0.1% |
| |||||||
ACS Actividades de Construccion y Servicios SA | 514 | 13,876 | ||||||
Boskalis Westminster | 549 | 18,072 | ||||||
Bouygues SA | 319 | 13,358 | ||||||
China Railway Group Ltd. - Class H | 179,000 | 85,727 | ||||||
Eiffage SA | 192 | 19,977 | ||||||
Epiroc AB - Class A | 436 | 9,568 | ||||||
Epiroc AB - Class B | 520 | 9,883 | ||||||
Ferrovial SA | 1,050 | 30,407 | ||||||
Fluor Corp.(b) (c) | 716 | 11,929 | ||||||
HOCHTIEF AG | 79 | 6,319 | ||||||
Metso Outotec Oyj | 1,685 | 18,018 | ||||||
Orascom Construction PLC | 173 | 817 | ||||||
Skanska AB - Class B | 763 | 21,996 | ||||||
SNC-Lavalin Group, Inc. | 1,097 | 29,702 |
10
Company | Shares | U.S. $ Value | ||||||
Vinci SA | 175 | $ | 18,776 | |||||
|
| |||||||
308,425 | ||||||||
|
| |||||||
Electrical Equipment – 0.2% |
| |||||||
ABB Ltd. | 788 | 29,152 | ||||||
Acuity Brands, Inc. | 140 | 25,834 | ||||||
AMETEK, Inc. | 672 | 91,372 | ||||||
Eaton Corp. PLC | 547 | 92,093 | ||||||
Emerson Electric Co. | 688 | 72,584 | ||||||
Legrand SA | 296 | 33,961 | ||||||
nVent Electric PLC | 481 | 16,527 | ||||||
Prysmian SpA | 537 | 20,218 | ||||||
Rockwell Automation, Inc. | 235 | 76,481 | ||||||
Schneider Electric SE | 198 | 35,376 | ||||||
Sensata Technologies Holding PLC(b) | 858 | 50,777 | ||||||
Siemens Energy AG(b) | 59 | 1,712 | ||||||
Vestas Wind Systems A/S | 760 | 30,686 | ||||||
|
| |||||||
576,773 | ||||||||
|
| |||||||
Industrial Conglomerates – 0.1% |
| |||||||
3M Co. | 284 | 55,306 | ||||||
DCC PLC | 173 | 14,706 | ||||||
General Electric Co. | 199 | 20,977 | ||||||
Honeywell International, Inc. | 378 | 87,662 | ||||||
Melrose Industries PLC | 8,829 | 20,387 | ||||||
Roper Technologies, Inc. | 184 | 88,923 | ||||||
Siemens AG | 118 | 19,575 | ||||||
Smiths Group PLC | 1,381 | 27,409 | ||||||
|
| |||||||
334,945 | ||||||||
|
| |||||||
Machinery – 0.6% |
| |||||||
AGCO Corp. | 496 | 68,260 | ||||||
Alfa Laval AB | 849 | 34,474 | ||||||
Alstom SA | 671 | 28,848 | ||||||
ANDRITZ AG | 354 | 20,369 | ||||||
Atlas Copco AB - Class A | 436 | 29,974 | ||||||
Atlas Copco AB - Class B | 520 | 30,114 | ||||||
Caterpillar, Inc. | 323 | 68,111 | ||||||
CNH Industrial NV | 1,193 | 19,721 | ||||||
Cummins, Inc. | 221 | 52,152 | ||||||
Deere & Co. | 289 | 109,251 | ||||||
Dover Corp. | 428 | 74,626 | ||||||
Electrolux Professional AB - Class B(b) | 748 | 5,847 | ||||||
Flowserve Corp. | 599 | 23,283 | ||||||
Fortive Corp. | 674 | 49,788 | ||||||
GEA Group AG | 378 | 17,448 | ||||||
Illinois Tool Works, Inc. | 349 | 81,268 | ||||||
IMI PLC | 1,187 | 29,766 | ||||||
Ingersoll Rand, Inc.(b) | 413 | 21,897 | ||||||
Kone Oyj - Class B | 326 | 27,052 | ||||||
MAN SE | 62 | 5,410 | ||||||
Middleby Corp. (The)(b) | 251 | 45,918 | ||||||
Neles Oyj | 392 | 6,063 | ||||||
PACCAR, Inc. | 502 | 41,099 | ||||||
Parker-Hannifin Corp. | 211 | 62,597 | ||||||
Pentair PLC | 481 | 37,114 | ||||||
Sandvik AB | 907 | 23,146 | ||||||
Schindler Holding AG | 78 | 25,188 |
11
Company | Shares | U.S. $ Value | ||||||
Schindler Holding AG (REG) | 81 | $ | 25,248 | |||||
SKF AB - Class B | 706 | 18,031 | ||||||
Snap-on, Inc. | 233 | 52,413 | ||||||
Stanley Black & Decker, Inc. | 329 | 63,586 | ||||||
Trane Technologies PLC | 469 | 93,096 | ||||||
Volvo AB - Class B | 910 | 20,605 | ||||||
Wartsila Oyj Abp | 732 | 10,384 | ||||||
Weir Group PLC (The)(b) | 503 | 12,105 | ||||||
Westinghouse Air Brake Technologies Corp. | 457 | 41,034 | ||||||
Xylem, Inc./NY | 796 | 108,503 | ||||||
Zardoya Otis SA | 1,731 | 11,424 | ||||||
|
| |||||||
1,495,213 | ||||||||
|
| |||||||
Marine – 0.0% |
| |||||||
AP Moller - Maersk A/S - Class A | 10 | 27,099 | ||||||
AP Moller - Maersk A/S - Class B | 9 | 25,639 | ||||||
|
| |||||||
52,738 | ||||||||
|
| |||||||
Professional Services – 0.5% |
| |||||||
Adecco Group AG | 233 | 12,961 | ||||||
Bureau Veritas SA | 963 | 32,006 | ||||||
Capita PLC(b) | 1,612 | 1,085 | ||||||
CoStar Group, Inc.(b) | 2,870 | 243,204 | ||||||
Equifax, Inc. | 383 | 104,276 | ||||||
Experian PLC | 1,125 | 49,624 | ||||||
Intertek Group PLC | 254 | 18,417 | ||||||
Jacobs Engineering Group, Inc. | 615 | 83,000 | ||||||
ManpowerGroup, Inc. | 340 | 41,283 | ||||||
Nielsen Holdings PLC | 827 | 17,747 | ||||||
Randstad NV | 258 | 19,001 | ||||||
RELX PLC | 1,139 | 34,259 | ||||||
RELX PLC (London) | 1,122 | 33,673 | ||||||
Robert Half International, Inc. | 701 | 72,483 | ||||||
SGS SA | 10 | 31,428 | ||||||
Thomson Reuters Corp. | 1,197 | 139,866 | ||||||
Verisk Analytics, Inc. - Class A | 637 | 128,521 | ||||||
Wolters Kluwer NV | 490 | 56,350 | ||||||
|
| |||||||
1,119,184 | ||||||||
|
| |||||||
Road & Rail – 0.3% |
| |||||||
AMERCO(b) | 94 | 62,148 | ||||||
Canadian National Railway Co. | 661 | 77,749 | ||||||
Canadian Pacific Railway Ltd. | 1,400 | 96,196 | ||||||
CSX Corp. | 1,578 | 51,333 | ||||||
JB Hunt Transport Services, Inc. | 438 | 77,701 | ||||||
Kansas City Southern | 333 | 93,463 | ||||||
Norfolk Southern Corp. | 311 | 78,851 | ||||||
Union Pacific Corp. | 324 | 70,256 | ||||||
|
| |||||||
607,697 | ||||||||
|
| |||||||
Trading Companies & Distributors – 0.2% |
| |||||||
AerCap Holdings NV(b) | 317 | 17,096 | ||||||
Ashtead Group PLC | 560 | 43,777 | ||||||
Brenntag SE | 322 | 32,496 | ||||||
Bunzl PLC | 677 | 24,530 | ||||||
Fastenal Co. | 1,510 | 84,333 | ||||||
Ferguson PLC | 296 | 42,783 |
12
Company | Shares | U.S. $ Value | ||||||
Finning International, Inc. | 1,846 | $ | 48,050 | |||||
Rexel SA(b) | 970 | 20,306 | ||||||
Travis Perkins PLC(b) | 697 | 17,268 | ||||||
United Rentals, Inc.(b) | 195 | 68,767 | ||||||
WW Grainger, Inc. | 196 | 85,005 | ||||||
|
| |||||||
484,411 | ||||||||
|
| |||||||
Transportation Infrastructure – 0.1% |
| |||||||
Aena SME SA(b) (d) | 131 | 20,944 | ||||||
Aeroports de Paris(b) | 132 | 15,545 | ||||||
Atlantia SpA(b) | 613 | 11,483 | ||||||
Fraport AG Frankfurt Airport Services Worldwide(b) | 264 | 17,072 | ||||||
Getlink SE | 1,705 | 27,465 | ||||||
Macquarie Infrastructure Corp.(b) | 570 | 22,714 | ||||||
|
| |||||||
115,223 | ||||||||
|
| |||||||
7,745,633 | ||||||||
|
| |||||||
Consumer Staples – 2.7% |
| |||||||
Beverages – 0.5% |
| |||||||
Anheuser-Busch InBev SA/NV | 336 | 20,608 | ||||||
Brown-Forman Corp. - Class B | 1,553 | 109,052 | ||||||
Carlsberg AS - Class B | 434 | 75,804 | ||||||
Coca-Cola Co. (The) | 2,349 | 132,272 | ||||||
Coca-Cola Europacific Partners PLC | 1,012 | 59,273 | ||||||
Coca-Cola HBC AG(b) | 1,304 | 47,198 | ||||||
Constellation Brands, Inc. - Class A | 321 | 67,776 | ||||||
Diageo PLC | 1,525 | 73,311 | ||||||
Heineken Holding NV | 450 | 41,743 | ||||||
Heineken NV | 502 | 54,980 | ||||||
Keurig Dr Pepper, Inc. | 924 | 32,959 | ||||||
Molson Coors Beverage Co. - Class B | 775 | 36,836 | ||||||
Monster Beverage Corp.(b) | 1,264 | 123,328 | ||||||
PepsiCo, Inc. | 845 | 132,149 | ||||||
Pernod Ricard SA | 347 | 73,046 | ||||||
Remy Cointreau SA | 337 | 66,365 | ||||||
|
| |||||||
1,146,700 | ||||||||
|
| |||||||
Food & Staples Retailing – 0.7% |
| |||||||
Alimentation Couche-Tard, Inc. - Class B | 3,374 | 136,335 | ||||||
Carrefour SA | 1,249 | 24,865 | ||||||
Casino Guichard Perrachon SA(b) | 448 | 13,014 | ||||||
Costco Wholesale Corp. | 505 | 230,023 | ||||||
Distribuidora Internacional de Alimentacion SA(b) | 54,700 | 1,305 | ||||||
Empire Co., Ltd. - Class A | 3,731 | 120,655 | ||||||
Etablissements Franz Colruyt NV | 915 | 51,220 | ||||||
George Weston Ltd. | 1,283 | 138,301 | ||||||
ICA Gruppen AB | 1,334 | 66,364 | ||||||
J Sainsbury PLC | 10,711 | 44,768 | ||||||
Jeronimo Martins SGPS SA | 2,095 | 44,402 | ||||||
Koninklijke Ahold Delhaize NV | 1,925 | 64,945 | ||||||
Kroger Co. (The) | 1,741 | 80,138 | ||||||
Loblaw Cos., Ltd. | 1,937 | 136,472 | ||||||
METRO AG | 963 | 12,827 | ||||||
Metro, Inc./CN | 3,499 | 178,243 | ||||||
Rite Aid Corp.(b) (c) | 91 | 1,614 |
13
Company | Shares | U.S. $ Value | ||||||
Sysco Corp. | 1,355 | $ | 107,926 | |||||
Tesco PLC | 11,257 | 39,519 | ||||||
Walgreens Boots Alliance, Inc. | 793 | 40,245 | ||||||
Walmart, Inc. | 1,159 | 171,648 | ||||||
Wm Morrison Supermarkets PLC | 13,410 | 53,339 | ||||||
|
| |||||||
1,758,168 | ||||||||
|
| |||||||
Food Products – 0.8% |
| |||||||
Archer-Daniels-Midland Co. | 1,514 | 90,840 | ||||||
Aryzta AG(b) | 6,292 | 8,784 | ||||||
Associated British Foods PLC | 933 | 25,439 | ||||||
Barry Callebaut AG | 33 | 84,069 | ||||||
Bunge Ltd. | 891 | 67,458 | ||||||
Campbell Soup Co.(c) | 1,279 | 53,373 | ||||||
Chocoladefabriken Lindt & Spruengli AG | 9 | 105,848 | ||||||
Chocoladefabriken Lindt & Spruengli AG (REG) | 1 | 122,195 | ||||||
Conagra Brands, Inc. | 1,969 | 65,213 | ||||||
Danone SA | 580 | 42,355 | ||||||
General Mills, Inc. | 1,305 | 75,442 | ||||||
Hershey Co. (The) | 758 | 134,697 | ||||||
Hormel Foods Corp.(c) | 1,930 | 87,892 | ||||||
Ingredion, Inc. | 628 | 55,176 | ||||||
JM Smucker Co. (The) | 614 | 75,933 | ||||||
Kellogg Co. | 1,053 | 66,487 | ||||||
Kerry Group PLC - Class A | 503 | 73,765 | ||||||
Kraft Heinz Co. (The) | 886 | 31,887 | ||||||
McCormick & Co., Inc./MD | 1,800 | 155,322 | ||||||
Mondelez International, Inc. - Class A | 1,174 | 72,870 | ||||||
Mowi ASA | 1,945 | 52,097 | ||||||
Nestle SA | 608 | 76,784 | ||||||
Orkla ASA | 3,826 | 34,175 | ||||||
Saputo, Inc. | 2,289 | 64,389 | ||||||
Tate & Lyle PLC | 4,685 | 45,501 | ||||||
Tyson Foods, Inc. - Class A | 1,060 | 83,231 | ||||||
|
| |||||||
1,851,222 | ||||||||
|
| |||||||
Household Products – 0.4% |
| |||||||
Church & Dwight Co., Inc. | 1,639 | 137,119 | ||||||
Clorox Co. (The) | 669 | 112,425 | ||||||
Colgate-Palmolive Co. | 1,207 | 94,086 | ||||||
Edgewell Personal Care Co.(c) | 667 | 28,214 | ||||||
Essity AB - Class B | 1,288 | 41,342 | ||||||
Henkel AG & Co. KGaA | 338 | 30,422 | ||||||
Henkel AG & Co. KGaA (Preference Shares) | 356 | 34,782 | ||||||
Kimberly-Clark Corp. | 706 | 97,294 | ||||||
Procter & Gamble Co. (The) | 1,192 | 169,729 | ||||||
Reckitt Benckiser Group PLC | 499 | 38,094 | ||||||
Spectrum Brands Holdings, Inc. | 587 | 45,821 | ||||||
|
| |||||||
829,328 | ||||||||
|
| |||||||
Personal Products – 0.2% |
| |||||||
Beiersdorf AG | 471 | 57,163 | ||||||
Coty, Inc. - Class A(b) (c) | 2,104 | 20,556 | ||||||
Estee Lauder Cos., Inc. (The) - Class A | 855 | 291,119 | ||||||
L’Oreal SA | 228 | 106,964 | ||||||
Unilever PLC | 811 | 45,156 |
14
Company | Shares | U.S. $ Value | ||||||
Unilever PLC | 860 | $ | 47,873 | |||||
|
| |||||||
568,831 | ||||||||
|
| |||||||
Tobacco – 0.1% |
| |||||||
Altria Group, Inc. | 1,060 | 53,244 | ||||||
British American Tobacco PLC | 579 | 21,720 | ||||||
British American Tobacco PLC (Sponsored ADR)(c) | 643 | 24,235 | ||||||
Imperial Brands PLC | 987 | 20,931 | ||||||
Philip Morris International, Inc. | 715 | 73,645 | ||||||
Swedish Match AB | 13,450 | 124,260 | ||||||
|
| |||||||
318,035 | ||||||||
|
| |||||||
6,472,284 | ||||||||
|
| |||||||
Consumer Discretionary – 2.6% |
| |||||||
Auto Components – 0.1% |
| |||||||
Aptiv PLC(b) | 302 | 45,961 | ||||||
Autoliv, Inc. | 287 | 25,368 | ||||||
BorgWarner, Inc. | 676 | 28,852 | ||||||
Cie Generale des Etablissements Michelin SCA - Class B | 199 | 32,217 | ||||||
Continental AG(b) | 107 | 14,380 | ||||||
Faurecia SE | 29 | 1,401 | ||||||
Faurecia SE (Italy) | 21 | 1,009 | ||||||
Goodyear Tire & Rubber Co. (The)(b) | 816 | 12,925 | ||||||
Lear Corp. | 199 | 31,828 | ||||||
Linamar Corp. | 630 | 35,693 | ||||||
Magna International, Inc. - Class A (Canada) | 729 | 57,568 | ||||||
Nokian Renkaat Oyj | 578 | 22,029 | ||||||
Schaeffler AG (Preference Shares) | 1,288 | 11,054 | ||||||
Valeo | 282 | 8,049 | ||||||
Veoneer, Inc.(b) (c) | 287 | 10,275 | ||||||
|
| |||||||
338,609 | ||||||||
|
| |||||||
Automobiles – 0.3% |
| |||||||
Bayerische Motoren Werke AG | 252 | 23,920 | ||||||
Bayerische Motoren Werke AG (Preference Shares) | 288 | 24,111 | ||||||
Daimler AG | 349 | 29,440 | ||||||
Ferrari NV | 303 | 65,727 | ||||||
Ford Motor Co.(b) | 2,754 | 35,885 | ||||||
General Motors Co.(b) | 869 | 42,590 | ||||||
Harley-Davidson, Inc. | 457 | 18,065 | ||||||
Porsche Automobil Holding SE (Preference Shares) | 377 | 38,140 | ||||||
Renault SA(b) | 203 | 7,557 | ||||||
Stellantis NV | 3,025 | 60,584 | ||||||
Tesla, Inc.(b) | 270 | 198,644 | ||||||
Volkswagen AG | 151 | 50,523 | ||||||
Volkswagen AG (Preference Shares) | 138 | 32,824 | ||||||
|
| |||||||
628,010 | ||||||||
|
| |||||||
Distributors – 0.0% |
| |||||||
Genuine Parts Co. | 435 | 53,153 |
15
Company | Shares | U.S. $ Value | ||||||
LKQ Corp.(b) | 877 | $ | 46,209 | |||||
|
| |||||||
99,362 | ||||||||
|
| |||||||
Diversified Consumer Services – 0.0% |
| |||||||
H&R Block, Inc. | 830 | 21,289 | ||||||
|
| |||||||
Hotels, Restaurants & Leisure – 0.5% |
| |||||||
Accor SA(b) | 515 | 17,760 | ||||||
Aramark | 1,174 | 40,843 | ||||||
Booking Holdings, Inc.(b) | 17 | 39,094 | ||||||
Carnival Corp.(b) | 557 | 13,446 | ||||||
Carnival PLC(b) | 409 | 8,862 | ||||||
Chipotle Mexican Grill, Inc. - Class A(b) | 57 | 108,490 | ||||||
Compass Group PLC(b) | 1,758 | 36,320 | ||||||
Darden Restaurants, Inc. | 368 | 55,439 | ||||||
Domino’s Pizza, Inc. | 151 | 78,050 | ||||||
Expedia Group, Inc.(b) | 215 | 31,068 | ||||||
Flutter Entertainment PLC(b) | 226 | 43,936 | ||||||
Hilton Worldwide Holdings, Inc.(b) | 532 | 66,426 | ||||||
InterContinental Hotels Group PLC(b) | 470 | 30,030 | ||||||
Las Vegas Sands Corp.(b) | 477 | 21,279 | ||||||
Marriott International, Inc./MD - Class A(b) | 350 | 47,299 | ||||||
McDonald’s Corp. | 324 | 76,937 | ||||||
MGM Resorts International | 769 | 32,775 | ||||||
Norwegian Cruise Line Holdings Ltd.(b) (c) | 485 | 12,532 | ||||||
Restaurant Brands International, Inc. | 668 | 42,918 | ||||||
Royal Caribbean Cruises Ltd.(b) (c) | 277 | 22,916 | ||||||
Sodexo SA(b) | 224 | 18,561 | ||||||
Starbucks Corp. | 666 | 78,248 | ||||||
Travel & Leisure Co. | 277 | 15,169 | ||||||
TUI AG-DI(b) | 3,055 | 13,289 | ||||||
Whitbread PLC(b) | 756 | 33,385 | ||||||
Wyndham Hotels & Resorts, Inc. | 277 | 20,138 | ||||||
Wynn Resorts Ltd.(b) | 179 | 18,203 | ||||||
Yum! Brands, Inc. | 630 | 82,549 | ||||||
|
| |||||||
1,105,962 | ||||||||
|
| |||||||
Household Durables – 0.3% |
| |||||||
Barratt Developments PLC | 2,559 | 26,029 | ||||||
Berkeley Group Holdings PLC | 550 | 36,534 | ||||||
DR Horton, Inc. | 836 | 79,938 | ||||||
Electrolux AB - Class B | 748 | 19,008 | ||||||
Garmin Ltd. | 605 | 105,530 | ||||||
Husqvarna AB - Class B | 2,521 | 33,866 | ||||||
Leggett & Platt, Inc.(c) | 679 | 32,857 | ||||||
Lennar Corp. - Class A | 555 | 59,557 | ||||||
Lennar Corp. - Class B | 11 | 963 | ||||||
Mohawk Industries, Inc.(b) | 156 | 30,851 | ||||||
Newell Brands, Inc. | 610 | 15,500 | ||||||
Persimmon PLC | 763 | 30,880 | ||||||
PulteGroup, Inc. | 1,261 | 67,917 | ||||||
SEB SA | 178 | 28,019 | ||||||
Taylor Wimpey PLC | 9,372 | 23,592 | ||||||
Toll Brothers, Inc. | 690 | 44,201 |
16
Company | Shares | U.S. $ Value | ||||||
Whirlpool Corp. | 167 | $ | 36,995 | |||||
|
| |||||||
672,237 | ||||||||
|
| |||||||
Internet & Direct Marketing Retail – 0.3% |
| |||||||
Amazon.com, Inc.(b) | 29 | 100,653 | ||||||
eBay, Inc. | 1,712 | 131,379 | ||||||
MercadoLibre, Inc.(b) | 134 | 250,238 | ||||||
Qurate Retail, Inc. | 1,207 | 13,313 | ||||||
Zalando SE(b) (d) | 758 | 84,043 | ||||||
|
| |||||||
579,626 | ||||||||
|
| |||||||
Leisure Products – 0.0% |
| |||||||
Hasbro, Inc. | 367 | 36,080 | ||||||
Mattel, Inc.(b) | 1,058 | 22,588 | ||||||
Nordic Entertainment Group AB - Class B(b) | 65 | 3,776 | ||||||
Polaris, Inc. | 248 | 29,701 | ||||||
|
| |||||||
92,145 | ||||||||
|
| |||||||
Multiline Retail – 0.2% |
| |||||||
Canadian Tire Corp., Ltd. - Class A | 300 | 45,654 | ||||||
Dollar General Corp. | 382 | 85,152 | ||||||
Dollar Tree, Inc.(b) | 304 | 27,524 | ||||||
Dollarama, Inc. | 1,356 | 61,832 | ||||||
Kohl’s Corp. | 485 | 27,839 | ||||||
Macy’s, Inc.(b) | 699 | 15,651 | ||||||
Marks & Spencer Group PLC(b) | 4,897 | 12,105 | ||||||
Next PLC | 400 | 43,500 | ||||||
Nordstrom, Inc.(b) (c) | 496 | 14,191 | ||||||
Target Corp. | 562 | 138,803 | ||||||
|
| |||||||
472,251 | ||||||||
|
| |||||||
Specialty Retail – 0.4% |
| |||||||
Advance Auto Parts, Inc. | 173 | 35,093 | ||||||
AutoNation, Inc.(b) (c) | 587 | 64,036 | ||||||
AutoZone, Inc.(b) | 47 | 72,810 | ||||||
Bath & Body Works, Inc.(g) | 409 | 27,599 | ||||||
Bed Bath & Beyond, Inc.(b) (c) | 660 | 18,176 | ||||||
Best Buy Co., Inc. | 397 | 46,255 | ||||||
CarMax, Inc.(b) | 276 | 34,558 | ||||||
CECONOMY AG(b) | 963 | 4,513 | ||||||
Dick’s Sporting Goods, Inc.(c) | 553 | 77,868 | ||||||
Dixons Carphone PLC | 4,868 | 9,350 | ||||||
Dufry AG(b) | 127 | 6,848 | ||||||
Foot Locker, Inc.(c) | 407 | 23,073 | ||||||
Gap, Inc. (The) | 852 | 22,774 | ||||||
H & M Hennes & Mauritz AB - Class B(b) | 936 | 18,796 | ||||||
Home Depot, Inc. (The) | 245 | 79,914 | ||||||
Industria de Diseno Textil SA | 757 | 25,860 | ||||||
Kingfisher PLC | 6,282 | 30,248 | ||||||
Lowe’s Cos., Inc. | 362 | 73,808 | ||||||
O’Reilly Automotive, Inc.(b) | 119 | 70,696 | ||||||
Ross Stores, Inc. | 451 | 53,398 | ||||||
Signet Jewelers Ltd. | 287 | 22,730 | ||||||
TJX Cos., Inc. (The) | 1,056 | 76,792 |
17
Company | Shares | U.S. $ Value | ||||||
Tractor Supply Co. | 570 | $ | 110,723 | |||||
Ulta Beauty, Inc.(b) | 91 | 35,245 | ||||||
Victoria’s Secret & Co.(b) | 136 | 9,017 | ||||||
Wickes Group PLC(b) | 782 | 2,602 | ||||||
|
| |||||||
1,052,782 | ||||||||
|
| |||||||
Textiles, Apparel & Luxury Goods – 0.5% |
| |||||||
adidas AG | 138 | 48,955 | ||||||
Burberry Group PLC | 981 | 25,119 | ||||||
Capri Holdings Ltd.(b) | 474 | 26,786 | ||||||
Christian Dior SE | 102 | 77,105 | ||||||
Cie Financiere Richemont SA | 285 | 31,456 | ||||||
EssilorLuxottica SA | 493 | 96,870 | ||||||
Gildan Activewear, Inc. | 1,287 | 49,474 | ||||||
Hanesbrands, Inc.(c) | 1,331 | 24,863 | ||||||
Hermes International | 67 | 98,611 | ||||||
HUGO BOSS AG | 261 | 14,573 | ||||||
Kering SA | 75 | 59,739 | ||||||
Kontoor Brands, Inc.(c) | 82 | 4,425 | ||||||
Lululemon Athletica, Inc.(b) | 362 | 144,862 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 90 | 66,673 | ||||||
NIKE, Inc. - Class B | 676 | 111,364 | ||||||
Pandora A/S | 240 | 28,767 | ||||||
Puma SE | 60 | 7,285 | ||||||
PVH Corp.(b) | 229 | 23,997 | ||||||
Ralph Lauren Corp. | 379 | 44,013 | ||||||
Swatch Group AG (The) | 56 | 15,801 | ||||||
Swatch Group AG (The) (REG) | 301 | 16,556 | ||||||
Tapestry, Inc.(b) | 597 | 24,071 | ||||||
Under Armour, Inc. - Class A(b) | 1,122 | 25,963 | ||||||
Under Armour, Inc. - Class C(b) | 1,242 | 24,914 | ||||||
VF Corp. | 576 | 44,047 | ||||||
|
| |||||||
1,136,289 | ||||||||
|
| |||||||
6,198,562 | ||||||||
|
| |||||||
Materials – 2.5% |
| |||||||
Chemicals – 1.4% |
| |||||||
Air Liquide SA | 447 | 80,121 | ||||||
Air Products and Chemicals, Inc. | 522 | 140,684 | ||||||
Akzo Nobel NV | 408 | 50,282 | ||||||
Albemarle Corp.(c) | 546 | 129,260 | ||||||
Arkema SA | 294 | 39,074 | ||||||
Axalta Coating Systems Ltd.(b) | 2,149 | 65,630 | ||||||
BASF SE | 444 | 34,348 | ||||||
Celanese Corp. - Class A | 722 | 114,509 | ||||||
CF Industries Holdings, Inc. | 1,192 | 54,141 | ||||||
Chr Hansen Holding A/S | 469 | 43,280 | ||||||
Corteva, Inc. | 701 | 30,823 | ||||||
Covestro AG(d) | 458 | 29,682 | ||||||
Croda International PLC | 632 | 79,557 | ||||||
Dow, Inc. | 701 | 44,093 | ||||||
DuPont de Nemours, Inc. | 701 | 51,888 | ||||||
Eastman Chemical Co. | 794 | 89,849 | ||||||
Ecolab, Inc. | 833 | 187,725 | ||||||
EMS-Chemie Holding AG | 47 | 50,927 |
18
Company | Shares | U.S. $ Value | ||||||
Evonik Industries AG | 1,232 | $ | 41,597 | |||||
FMC Corp. | 742 | 69,474 | ||||||
Givaudan SA | 25 | 125,424 | ||||||
International Flavors & Fragrances, Inc. | 533 | 80,750 | ||||||
Johnson Matthey PLC | 1,127 | 45,563 | ||||||
K&S AG(b) | 1,009 | 14,383 | ||||||
Koninklijke DSM NV | 642 | 136,680 | ||||||
LANXESS AG | 442 | 32,219 | ||||||
Linde PLC | 436 | 137,161 | ||||||
Livent Corp.(b) (c) | 693 | 17,235 | ||||||
LyondellBasell Industries NV - Class A | 645 | 64,726 | ||||||
Methanex Corp. | 1,103 | 40,425 | ||||||
Mosaic Co. (The) | 2,007 | 64,585 | ||||||
Novozymes A/S - Class B | 559 | 45,188 | ||||||
Nutrien Ltd. | 3,184 | 193,566 | ||||||
PPG Industries, Inc. | 660 | 105,303 | ||||||
Sherwin-Williams Co. (The) | 693 | 210,443 | ||||||
Sika AG | 360 | 129,710 | ||||||
Solvay SA | 330 | 43,194 | ||||||
Symrise AG | 710 | 101,040 | ||||||
Umicore SA | 1,130 | 74,356 | ||||||
WR Grace & Co. | 870 | 60,587 | ||||||
Yara International ASA | 866 | 43,493 | ||||||
|
| |||||||
3,192,975 | ||||||||
|
| |||||||
Construction Materials – 0.1% |
| |||||||
CRH PLC | 1,075 | 56,949 | ||||||
HeidelbergCement AG | 356 | 30,875 | ||||||
Holcim Ltd. | 595 | 33,904 | ||||||
Imerys SA | 563 | 26,106 | ||||||
Martin Marietta Materials, Inc. | 237 | 90,356 | ||||||
Vulcan Materials Co. | 393 | 73,071 | ||||||
|
| |||||||
311,261 | ||||||||
|
| |||||||
Containers & Packaging – 0.4% |
| |||||||
Avery Dennison Corp. | 978 | 220,432 | ||||||
Ball Corp. | 1,802 | 172,920 | ||||||
CCL Industries, Inc. - Class B | 1,790 | 102,180 | ||||||
Crown Holdings, Inc. | 1,332 | 146,240 | ||||||
International Paper Co. | 1,270 | 76,314 | ||||||
Packaging Corp. of America | 678 | 102,853 | ||||||
Sealed Air Corp. | 1,509 | 92,094 | ||||||
Westrock Co. | 1,050 | 54,642 | ||||||
|
| |||||||
967,675 | ||||||||
|
| |||||||
Metals & Mining – 0.5% |
| |||||||
Agnico Eagle Mines Ltd. | 888 | 51,099 | ||||||
Anglo American PLC | 1,415 | 59,763 | ||||||
Antofagasta PLC | 2,036 | 40,785 | ||||||
ArcelorMittal SA | 987 | 33,104 | ||||||
Arconic Corp.(b) | 206 | 7,105 | ||||||
Barrick Gold Corp. (London) | 1,911 | 38,096 | ||||||
Barrick Gold Corp. (Toronto) | 2,364 | 47,518 | ||||||
BHP Group PLC | 1,449 | 45,058 | ||||||
Boliden AB | 977 | 34,110 | ||||||
Eldorado Gold Corp.(b) | 1,427 | 12,509 | ||||||
First Quantum Minerals Ltd. | 3,202 | 66,697 | ||||||
Franco-Nevada Corp. | 739 | 107,806 |
19
Company | Shares | U.S. $ Value | ||||||
Freeport-McMoRan, Inc. | 2,604 | $ | 94,760 | |||||
Fresnillo PLC | 1,276 | 15,005 | ||||||
Glencore PLC(b) | 5,705 | 25,717 | ||||||
Kinross Gold Corp. | 6,730 | 40,487 | ||||||
Newmont Corp. | 1,386 | 80,374 | ||||||
Newmont Corp. (Toronto) | 1,053 | 61,061 | ||||||
Norsk Hydro ASA | 4,362 | 30,112 | ||||||
Nucor Corp. | 910 | 106,980 | ||||||
Rio Tinto PLC | 669 | 49,495 | ||||||
Teck Resources Ltd.- Class B | 2,652 | 59,802 | ||||||
thyssenkrupp AG(b) | 1,007 | 11,221 | ||||||
Turquoise Hill Resources Ltd.(b) | 641 | 9,613 | ||||||
voestalpine AG | 636 | 28,871 | ||||||
Wheaton Precious Metals Corp. | 1,870 | 84,277 | ||||||
Yamana Gold, Inc. | 7,199 | 31,782 | ||||||
|
| |||||||
1,273,207 | ||||||||
|
| |||||||
Paper & Forest Products – 0.1% |
| |||||||
Mondi PLC | 1,889 | 52,108 | ||||||
Stora Enso Oyj - Class R | 2,477 | 48,597 | ||||||
Svenska Cellulosa AB SCA - Class B | 1,288 | 22,763 | ||||||
UPM-Kymmene Oyj | 1,348 | 54,916 | ||||||
West Fraser Timber Co., Ltd. | 1,065 | 82,236 | ||||||
|
| |||||||
260,620 | ||||||||
|
| |||||||
6,005,738 | ||||||||
|
| |||||||
Utilities – 2.1% |
| |||||||
Electric Utilities – 1.1% |
| |||||||
Alliant Energy Corp. | 1,649 | 100,243 | ||||||
American Electric Power Co., Inc. | 1,054 | 94,407 | ||||||
Duke Energy Corp. | 865 | 90,531 | ||||||
Edison International | 797 | 46,098 | ||||||
EDP - Energias de Portugal SA | 19,584 | 107,507 | ||||||
Electricite de France SA | 3,570 | 48,416 | ||||||
Emera, Inc. | 2,500 | 118,020 | ||||||
Endesa SA | 3,408 | 81,936 | ||||||
Enel SpA | 10,639 | 96,926 | ||||||
Entergy Corp. | 880 | 97,337 | ||||||
Evergy, Inc. | 973 | 66,602 | ||||||
Eversource Energy | 1,141 | 103,523 | ||||||
Exelon Corp. | 1,491 | 73,089 | ||||||
FirstEnergy Corp. | 1,915 | 74,436 | ||||||
Fortis, Inc./Canada | 2,662 | 121,954 | ||||||
Fortum Oyj | 4,004 | 121,701 | ||||||
Hydro One Ltd.(d) | 3,582 | 89,149 | ||||||
Iberdrola SA | 8,534 | 105,749 | ||||||
NextEra Energy, Inc. | 2,156 | 181,082 | ||||||
OGE Energy Corp. | 1,973 | 69,864 | ||||||
Orsted AS(d) | 1,497 | 238,000 | ||||||
Pinnacle West Capital Corp. | 753 | 57,906 | ||||||
PPL Corp. | 1,790 | 52,536 | ||||||
Red Electrica Corp. SA | 3,748 | 74,748 | ||||||
Southern Co. (The) | 1,397 | 91,825 | ||||||
SSE PLC | 3,489 | 78,378 | ||||||
Terna - Rete Elettrica Nazionale | 13,636 | 107,862 | ||||||
Xcel Energy, Inc. | 1,190 | 81,812 | ||||||
|
| |||||||
2,671,637 | ||||||||
|
|
20
Company | Shares | U.S. $ Value | ||||||
Gas Utilities – 0.2% |
| |||||||
AltaGas Ltd. | 3,076 | $ | 61,610 | |||||
Atmos Energy Corp. | 860 | 83,859 | ||||||
Enagas SA | 3,496 | 79,578 | ||||||
Naturgy Energy Group SA | 2,625 | 67,522 | ||||||
Snam SpA | 22,765 | 134,600 | ||||||
UGI Corp. | 1,317 | 60,990 | ||||||
|
| |||||||
488,159 | ||||||||
|
| |||||||
Independent Power and Renewable Electricity Producers – 0.0% |
| |||||||
AES Corp. (The) | 4,046 | 96,578 | ||||||
|
| |||||||
Multi-Utilities – 0.7% |
| |||||||
Ameren Corp. | 1,162 | 101,931 | ||||||
Atco Ltd./Canada - Class I | 1,665 | 56,021 | ||||||
Canadian Utilities Ltd. - Class A | 2,932 | 82,988 | ||||||
CenterPoint Energy, Inc. | 2,121 | 53,216 | ||||||
Centrica PLC(b) | 23,244 | 16,610 | ||||||
CMS Energy Corp. | 1,535 | 98,439 | ||||||
Consolidated Edison, Inc. | 866 | 65,340 | ||||||
Dominion Energy, Inc. | 1,315 | 102,360 | ||||||
DTE Energy Co. | 687 | 82,673 | ||||||
E.ON SE | 6,694 | 88,318 | ||||||
Engie SA | 3,398 | 48,693 | ||||||
National Grid PLC | 4,604 | 59,549 | ||||||
NiSource, Inc. | 2,608 | 64,287 | ||||||
Public Service Enterprise Group, Inc. | 1,187 | 75,897 | ||||||
RWE AG | 2,734 | 106,756 | ||||||
Sempra Energy | 547 | 72,401 | ||||||
Suez SA | 3,280 | 76,102 | ||||||
United Utilities Group PLC | 6,181 | 89,887 | ||||||
Veolia Environnement SA | 2,624 | 90,049 | ||||||
WEC Energy Group, Inc. | 1,055 | 99,676 | ||||||
|
| |||||||
1,531,193 | ||||||||
|
| |||||||
Water Utilities – 0.1% |
| |||||||
American Water Works Co., Inc. | 869 | 158,375 | ||||||
Severn Trent PLC | 2,353 | 89,400 | ||||||
|
| |||||||
247,775 | ||||||||
|
| |||||||
5,035,342 | ||||||||
|
| |||||||
Communication Services – 1.7% |
| |||||||
Diversified Telecommunication Services – 0.6% |
| |||||||
Altice USA, Inc. - Class A(b) | 713 | 19,565 | ||||||
AT&T, Inc. | 2,772 | 76,008 | ||||||
BCE, Inc. | 3,032 | 158,131 | ||||||
BT Group PLC(b) | 7,665 | 17,918 | ||||||
Charter Communications, Inc. - Class A(b) (c) | 83 | 67,783 | ||||||
Comcast Corp. - Class A | 824 | 50,000 | ||||||
Deutsche Telekom AG | 2,256 | 47,970 | ||||||
Elisa Oyj | 1,116 | 71,525 | ||||||
Eurazeo SE | 635 | 65,324 | ||||||
Eutelsat Communications SA | 1,132 | 13,093 | ||||||
Iliad SA | 138 | 29,675 | ||||||
Koninklijke KPN NV | 12,242 | 39,216 | ||||||
Liberty Global PLC(b) | 1,811 | 52,483 |
21
Company | Shares | U.S. $ Value | ||||||
Liberty Global PLC - Class A(b) | 813 | $ | 23,366 | |||||
Liberty Latin America Ltd. - Class C(b) | 1,189 | 17,110 | ||||||
Lumen Technologies, Inc.(c) | 3,838 | 47,207 | ||||||
Orange SA | 2,176 | 24,739 | ||||||
Proximus SADP | 1,770 | 34,703 | ||||||
Shaw Communications, Inc. - Class B | 2,404 | 70,749 | ||||||
Sirius XM Holdings, Inc.(c) | 4,633 | 29,049 | ||||||
Swisscom AG | 114 | 66,911 | ||||||
Telecom Italia SpA/Milano | 31,583 | 14,309 | ||||||
Telecom Italia SpA/Milano (Savings Shares) | 39,625 | 19,144 | ||||||
Telefonica Deutschland Holding AG | 7,772 | 21,817 | ||||||
Telefonica SA | 3,726 | 18,436 | ||||||
Telenet Group Holding NV | 522 | 19,862 | ||||||
Telenor ASA | 2,325 | 40,731 | ||||||
Telia Co. AB | 12,753 | 54,830 | ||||||
TELUS Corp. | 6,684 | 154,008 | ||||||
United Internet AG | 623 | 26,928 | ||||||
Verizon Communications, Inc. | 1,696 | 93,280 | ||||||
|
| |||||||
1,485,870 | ||||||||
|
| |||||||
Entertainment – 0.2% |
| |||||||
Activision Blizzard, Inc. | 841 | 69,273 | ||||||
Bollore SA | 3,319 | 19,672 | ||||||
Electronic Arts, Inc. | 495 | 71,879 | ||||||
Modern Times Group MTG AB - Class B(b) | 90 | 1,284 | ||||||
Netflix, Inc.(b) | 129 | 73,425 | ||||||
Vivendi SE | 1,098 | 41,825 | ||||||
Walt Disney Co. (The)(b) | 1,074 | 194,716 | ||||||
|
| |||||||
472,074 | ||||||||
|
| |||||||
Interactive Media & Services – 0.4% |
| |||||||
Adevinta ASA - Class B(b) | 2,027 | 40,794 | ||||||
Alphabet, Inc. - Class A(b) | 78 | 225,728 | ||||||
Alphabet, Inc. - Class C(b) | 76 | 221,102 | ||||||
Auto Trader Group PLC | 4,579 | 39,598 | ||||||
Cars.com, Inc.(b) | 283 | 3,600 | ||||||
Facebook, Inc. - Class A(b) | 387 | 146,820 | ||||||
TripAdvisor, Inc.(b) | 426 | 14,910 | ||||||
Twitter, Inc.(b) | 1,866 | 120,357 | ||||||
Zillow Group, Inc. - Class C(b) (c) | 848 | 81,213 | ||||||
|
| |||||||
894,122 | ||||||||
|
| |||||||
Media – 0.3% |
| |||||||
Discovery, Inc. - Class A(b) (c) | 1,012 | 29,186 | ||||||
Discovery, Inc. - Class C(b) | 1,427 | 39,371 | ||||||
DISH Network Corp. - Class A(b) (c) | 297 | 12,946 | ||||||
Fox Corp. - Class A | 338 | 12,655 | ||||||
Fox Corp. - Class B | 340 | 11,774 | ||||||
Interpublic Group of Cos., Inc. (The) | 1,393 | 51,861 | ||||||
ITV PLC(b) | 7,799 | 12,430 | ||||||
JCDecaux SA(b) | 889 | 24,802 | ||||||
Lagardere SA(b) | 819 | 22,658 | ||||||
Liberty Broadband Corp.(b) | 346 | 66,197 |
22
Company | Shares | U.S. $ Value | ||||||
Liberty Media Corp.-Liberty SiriusXM - Class A(b) | 944 | $ | 46,728 | |||||
Liberty Media Corp.-Liberty SiriusXM - Class C(b) | 855 | 42,194 | ||||||
News Corp. - Class A | 2,510 | 56,400 | ||||||
Omnicom Group, Inc. | 460 | 33,681 | ||||||
Pearson PLC | 1,740 | 18,349 | ||||||
ProSiebenSat.1 Media SE | 638 | 12,181 | ||||||
Publicis Groupe SA | 351 | 23,043 | ||||||
RTL GROUP(b) | 289 | 17,958 | ||||||
RTL Group SA | 30 | 1,865 | ||||||
Schibsted ASA | 973 | 51,911 | ||||||
Schibsted ASA - Class B | 1,054 | 49,049 | ||||||
SES SA | 1,380 | 11,517 | ||||||
TEGNA, Inc. | 850 | 15,062 | ||||||
ViacomCBS, Inc. - Class B | 829 | 34,362 | ||||||
WPP PLC | 1,472 | 19,959 | ||||||
|
| |||||||
718,139 | ||||||||
|
| |||||||
Wireless Telecommunication Services – 0.2% |
| |||||||
Millicom International Cellular SA(b) | 591 | 22,365 | ||||||
Rogers Communications, Inc. - Class B | 2,193 | 111,732 | ||||||
T-Mobile US, Inc.(b) | 970 | 132,909 | ||||||
Tele2 AB - Class B | 4,849 | 72,799 | ||||||
Vodafone Group PLC | 17,886 | 30,041 | ||||||
|
| |||||||
369,846 | ||||||||
|
| |||||||
3,940,051 | ||||||||
|
| |||||||
Energy – 1.3% |
| |||||||
Energy Equipment & Services – 0.1% |
| |||||||
Baker Hughes Co. - Class A | 758 | 17,267 | ||||||
ChampionX Corp.(b) | 214 | 4,992 | ||||||
Core Laboratories NV | 280 | 7,717 | ||||||
Drilling Co. of 1972 A/S (The)(b) | 38 | 1,395 | ||||||
Halliburton Co. | 747 | 14,925 | ||||||
Helmerich & Payne, Inc. | 490 | 13,191 | ||||||
NOV, Inc.(b) | 851 | 11,208 | ||||||
Petrofac Ltd.(b) | 6,919 | 10,017 | ||||||
Saipem SpA(b) | 858 | 2,033 | ||||||
Schlumberger NV | 606 | 16,992 | ||||||
Tenaris SA | 3,797 | 38,218 | ||||||
Weatherford International PLC(b) | 1 | 16 | ||||||
|
| |||||||
137,971 | ||||||||
|
| |||||||
Oil, Gas & Consumable Fuels – 1.2% |
| |||||||
Antero Resources Corp.(b) | 1,271 | 17,438 | ||||||
APA Corp. | 607 | 11,824 | ||||||
ARC Resources Ltd. | 4,153 | 29,658 | ||||||
BP PLC | 13,599 | 55,325 | ||||||
Cabot Oil & Gas Corp. | 1,013 | 16,097 | ||||||
Cameco Corp. | 2,728 | 50,402 | ||||||
Canadian Natural Resources Ltd. | 1,035 | 34,250 | ||||||
Cenovus Energy, Inc. | 5,037 | 41,800 | ||||||
Cheniere Energy, Inc.(b) | 609 | 53,263 | ||||||
Chevron Corp. | 571 | 55,256 | ||||||
China Petroleum & Chemical Corp. - Class H | 230,000 | 110,662 | ||||||
China Shenhua Energy Co., Ltd. - Class H | 99,000 | 218,919 |
23
Company | Shares | U.S. $ Value | ||||||
Cimarex Energy Co. | 268 | $ | 17,211 | |||||
ConocoPhillips | 1,067 | 59,250 | ||||||
Continental Resources, Inc./OK(c) | 603 | 23,686 | ||||||
Crescent Point Energy Corp. | 2,365 | 8,492 | ||||||
Devon Energy Corp. | 669 | 19,769 | ||||||
Diamondback Energy, Inc. | 286 | 22,062 | ||||||
DTE Midstream LLC(b) | 343 | 15,939 | ||||||
Enbridge, Inc. | 1,314 | 51,710 | ||||||
Eni SpA | 4,936 | 60,898 | ||||||
EOG Resources, Inc. | 364 | 24,577 | ||||||
EQT Corp.(b) | 539 | 9,880 | ||||||
Equinor ASA | 4,590 | 97,281 | ||||||
Equitrans Midstream Corp. | 431 | 3,763 | ||||||
Exxon Mobil Corp. | 713 | 38,873 | ||||||
Galp Energia SGPS SA | 4,711 | 48,188 | ||||||
Hess Corp. | 565 | 38,844 | ||||||
HollyFrontier Corp. | 1,019 | 32,944 | ||||||
Imperial Oil Ltd. | 1,534 | 40,598 | ||||||
Inter Pipeline Ltd. | 3,237 | 51,314 | ||||||
Keyera Corp. | 1,731 | 41,682 | ||||||
Kinder Morgan, Inc. | 1,880 | 30,588 | ||||||
Koninklijke Vopak NV | 1,705 | 73,843 | ||||||
Lundin Energy AB | 2,787 | 85,173 | ||||||
Marathon Oil Corp. | 1,390 | 16,332 | ||||||
Marathon Petroleum Corp. | 1,407 | 83,393 | ||||||
Murphy Oil Corp.(c) | 914 | 19,432 | ||||||
Neste Oyj | 4,680 | 285,068 | ||||||
Occidental Petroleum Corp. | 864 | 22,196 | ||||||
OMV AG | 1,553 | 86,022 | ||||||
ONEOK, Inc. | 703 | 36,922 | ||||||
Ovintiv, Inc. | 398 | 10,849 | ||||||
Ovintiv, Inc. (Canada) | 403 | 10,972 | ||||||
Pembina Pipeline Corp. | 2,130 | 64,914 | ||||||
Peyto Exploration & Development Corp. | 1,639 | 8,704 | ||||||
Phillips 66 | 607 | 43,152 | ||||||
Pioneer Natural Resources Co. | 271 | 40,561 | ||||||
PrairieSky Royalty Ltd. | 1,883 | 20,656 | ||||||
Range Resources Corp.(b) (c) | 940 | 13,743 | ||||||
Royal Dutch Shell PLC - Class A | 3,106 | 61,559 | ||||||
Royal Dutch Shell PLC - Class B | 3,120 | 61,394 | ||||||
Southwestern Energy Co.(b) (c) | 2,381 | 10,833 | ||||||
Suncor Energy, Inc. | 1,483 | 27,693 | ||||||
Targa Resources Corp. | 621 | 27,274 | ||||||
TC Energy Corp. | 1,444 | 68,557 | ||||||
Thungela Resources Ltd.(b) | 141 | 588 | ||||||
TotalEnergies SE | 1,632 | 72,188 | ||||||
Tourmaline Oil Corp. | 1,532 | 40,970 | ||||||
Valero Energy Corp. | 618 | 40,980 | ||||||
Vermilion Energy, Inc.(b) | 920 | 6,140 | ||||||
Williams Cos., Inc. (The) | 1,051 | 25,949 | ||||||
|
| |||||||
2,798,500 | ||||||||
|
| |||||||
2,936,471 | ||||||||
|
| |||||||
Real Estate – 1.2% |
| |||||||
Equity Real Estate Investment Trusts (REITs) – 1.0% |
| |||||||
Alexandria Real Estate Equities, Inc. | 370 | 76,357 | ||||||
American Tower Corp. | 354 | 103,428 |
24
Company | Shares | U.S. $ Value | ||||||
AvalonBay Communities, Inc. | 234 | $ | 53,722 | |||||
Boston Properties, Inc. | 360 | 40,676 | ||||||
British Land Co. PLC (The) | 5,156 | 37,668 | ||||||
Brixmor Property Group, Inc. | 1,101 | 25,819 | ||||||
Camden Property Trust | 472 | 70,819 | ||||||
Covivio | 424 | 40,410 | ||||||
Crown Castle International Corp. | 494 | 96,177 | ||||||
Digital Realty Trust, Inc. | 378 | 61,958 | ||||||
DigitalBridge Group, Inc.(b) (c) | 3,138 | 21,652 | ||||||
Duke Realty Corp. | 1,323 | 69,471 | ||||||
Equinix, Inc. | 91 | 76,754 | ||||||
Equity Residential | 641 | 53,889 | ||||||
Essex Property Trust, Inc. | 185 | 61,187 | ||||||
Extra Space Storage, Inc. | 489 | 91,399 | ||||||
Federal Realty Investment Trust | 282 | 34,339 | ||||||
Gecina SA | 296 | 46,013 | ||||||
H&R Real Estate Investment Trust | 3,643 | 47,932 | ||||||
Hammerson PLC | 28,225 | 14,143 | ||||||
Healthpeak Properties, Inc. | 1,144 | 41,184 | ||||||
Host Hotels & Resorts, Inc.(b) | 1,706 | 28,251 | ||||||
ICADE | 547 | 47,037 | ||||||
Intu Properties PLC(b) (e) (f) | 9,375 | 0 | ||||||
Iron Mountain, Inc.(c) | 1,144 | 54,626 | ||||||
JBG SMITH Properties | 232 | 6,990 | ||||||
Kimco Realty Corp. | 1,471 | 32,053 | ||||||
Klepierre SA(b) | 1,062 | 26,036 | ||||||
Land Securities Group PLC | 3,092 | 30,199 | ||||||
Macerich Co. (The) | 518 | 8,847 | ||||||
Mid-America Apartment Communities, Inc. | 487 | 93,684 | ||||||
National Retail Properties, Inc. | 864 | 41,135 | ||||||
Prologis, Inc. | 1,398 | 188,255 | ||||||
Public Storage | 203 | 65,693 | ||||||
Realty Income Corp. | 678 | 48,965 | ||||||
Regency Centers Corp. | 664 | 45,564 | ||||||
RioCan Real Estate Investment Trust | 3,105 | 55,152 | ||||||
SBA Communications Corp. | 280 | 100,512 | ||||||
Segro PLC | 5,086 | 89,890 | ||||||
Simon Property Group, Inc. | 199 | 26,756 | ||||||
SL Green Realty Corp.(c) | 358 | 25,089 | ||||||
SmartCentres Real Estate Investment Trust | 1,619 | 39,152 | ||||||
UDR, Inc. | 1,200 | 64,824 | ||||||
Ventas, Inc. | 613 | 34,291 | ||||||
VEREIT, Inc. | 687 | 34,714 | ||||||
Vornado Realty Trust | 465 | 19,474 | ||||||
Welltower, Inc. | 621 | 54,356 | ||||||
Weyerhaeuser Co. | 1,110 | 39,960 | ||||||
|
| |||||||
2,466,502 | ||||||||
|
| |||||||
Real Estate Management & Development – 0.2% |
| |||||||
CBRE Group, Inc. - Class A(b) | 938 | 90,329 | ||||||
Deutsche Wohnen SE | 1,099 | 68,218 | ||||||
First Capital Real Estate Investment Trust | 2,575 | 36,779 | ||||||
Jones Lang LaSalle, Inc.(b) | 249 | 60,365 | ||||||
Swiss Prime Site AG | 732 | 78,329 | ||||||
Unibail-Rodamco-Westfield(b) | 156 | 13,670 |
25
Company | Shares | U.S. $ Value | ||||||||||
Vonovia SE | 1,235 | $ | 83,376 | |||||||||
|
| |||||||||||
431,066 | ||||||||||||
|
| |||||||||||
2,897,568 | ||||||||||||
|
| |||||||||||
Total Common Stocks | 73,827,427 | |||||||||||
|
| |||||||||||
INVESTMENT COMPANIES – 7.6% | ||||||||||||
Funds and Investment Trusts – 7.6%(h) | ||||||||||||
Altaba, Inc.(e) (f) | 1,120 | 0 | ||||||||||
iShares Global Energy ETF(c) | 97,950 | 2,412,509 | ||||||||||
iShares Russell 1000 Value ETF - Class E(c) | 41,760 | 6,810,638 | ||||||||||
iShares Russell 2000 Value ETF(c) | 20,070 | 3,291,480 | ||||||||||
VanEck Vectors JP Morgan EM Local Currency Bond ETF - Class E | 98,020 | 3,055,283 | ||||||||||
Vanguard Global ex-U.S. Real Estate ETF | 19,860 | 1,176,904 | ||||||||||
Vanguard Real Estate ETF(c) | 11,760 | 1,276,901 | ||||||||||
|
| |||||||||||
Total Investment Companies | 18,023,715 | |||||||||||
|
| |||||||||||
Principal Amount (000) | ||||||||||||
GOVERNMENTS - SOVEREIGN BONDS – 0.6% | ||||||||||||
Mexico – 0.6% | ||||||||||||
Mexico Government International Bond | U.S.$ | 1,174 | 1,328,968 | |||||||||
|
| |||||||||||
Shares | ||||||||||||
PREFERRED STOCKS – 0.0% | ||||||||||||
Materials – 0.0% | ||||||||||||
Chemicals – 0.0% | ||||||||||||
Fuchs Petrolub SE | 915 | 46,305 | ||||||||||
|
| |||||||||||
Consumer Discretionary – 0.0% | ||||||||||||
Internet & Direct Marketing Retail – 0.0% | ||||||||||||
Qurate Retail, Inc. | 36 | 3,888 | ||||||||||
|
| |||||||||||
Real Estate – 0.0% | ||||||||||||
Real Estate Management & Development – 0.0% | ||||||||||||
Brookfield Property Preferred LP | 29 | 749 | ||||||||||
|
| |||||||||||
Total Preferred Stocks | 50,942 | |||||||||||
|
| |||||||||||
WARRANTS – 0.0% | ||||||||||||
Energy – 0.0% | ||||||||||||
Energy Equipment & Services – 0.0% | ||||||||||||
Weatherford International PLC, expiring 11/26/2023(b) | 20 | 5 | ||||||||||
|
|
26
Company | Shares | U.S. $ Value | ||||||
Oil, Gas & Consumable Fuels – 0.0% |
| |||||||
Cenovus Energy, Inc., expiring 01/01/2026(b) | 200 | $ | 915 | |||||
Occidental Petroleum Corp., expiring 08/03/2027(b) | 108 | 1,093 | ||||||
|
| |||||||
2,008 | ||||||||
|
| |||||||
2,013 | ||||||||
|
| |||||||
Consumer Discretionary – 0.0% |
| |||||||
Multiline Retail – 0.0% |
| |||||||
Cie Financiere Richemont SA, expiring 11/27/2023(b) | 570 | 293 | ||||||
|
| |||||||
Total Warrants | 2,306 | |||||||
|
| |||||||
SHORT-TERM INVESTMENTS – 7.4% |
| |||||||
Investment Companies – 7.4% |
| |||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - | 17,453,700 | 17,453,700 | ||||||
|
| |||||||
Total Investments Before Security Lending Collateral for Securities Loaned – 96.3% |
| 228,251,223 | ||||||
|
| |||||||
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.1% |
| |||||||
Investment Companies – 1.1% |
| |||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - | 2,683,534 | 2,683,534 | ||||||
|
| |||||||
Total Investments – 97.4% |
| 230,934,757 | ||||||
Other assets less liabilities – 2.6% | 6,069,640 | |||||||
|
| |||||||
Net Assets – 100.0% | $ | 237,004,397 | ||||||
|
|
FUTURES
Description | Number of Contracts | Expiration Month | Current Notional | Value and Unrealized Appreciation/ (Depreciation) | ||||||||||||||||
Purchased Contracts |
| |||||||||||||||||||
Brent Crude Futures | 39 | January 2022 | $ | 2,712,840 | $ | 8,412 | ||||||||||||||
Canadian 10 Yr Bond Futures | 61 | December 2021 | 7,065,295 | 15,931 | ||||||||||||||||
Cattle Feeder Futures | 12 | September 2021 | 978,000 | 2,141 | ||||||||||||||||
Cocoa Futures | 32 | March 2022 | 820,160 | 12,323 | ||||||||||||||||
Coffee Robusta Futures | 40 | November 2021 | 810,400 | 87,589 | ||||||||||||||||
Coffee ‘C’ Futures | 8 | March 2022 | 595,500 | 13,948 | ||||||||||||||||
Copper Futures | 15 | December 2021 | 1,640,625 | (36,521 | ) | |||||||||||||||
Corn Futures | 62 | March 2022 | 1,682,525 | (45,909 | ) | |||||||||||||||
Cotton No.2 Futures | 22 | March 2022 | 1,009,470 | 21,335 | ||||||||||||||||
Euro STOXX 50 Index Futures | 39 | September 2021 | 1,925,550 | 27,586 | ||||||||||||||||
Gasoline RBOB Futures | 17 | December 2021 | 1,431,641 | (3,137 | ) | |||||||||||||||
Gold 100 OZ Futures | 25 | December 2021 | 4,545,250 | (7,731 | ) | |||||||||||||||
Hang Seng Index Futures | 9 | September 2021 | 1,490,116 | 9,131 |
27
Description | Number of Contracts | Expiration Month | Current Notional | Value and Unrealized Appreciation/ (Depreciation) | ||||||||||||||||
Japan 10 Yr Bond (OSE) Futures | 3 | September 2021 | $ | 4,149,253 | $ | 10,891 | ||||||||||||||
KC HRW Wheat Futures | 34 | March 2022 | 1,226,550 | (24,358 | ) | |||||||||||||||
Lean Hogs Futures | 20 | February 2022 | 667,200 | (32,122 | ) | |||||||||||||||
Live Cattle Futures | 19 | February 2022 | 1,046,900 | 4,495 | ||||||||||||||||
LME Nickel Futures | 17 | November 2021 | 1,994,508 | 115,890 | ||||||||||||||||
LME Primary Aluminum Futures | 41 | November 2021 | 2,785,950 | 260,235 | ||||||||||||||||
LME Primary Aluminum Futures | 5 | September 2021 | 339,125 | 27,827 | ||||||||||||||||
LME Zinc Futures | 29 | November 2021 | 2,178,444 | 724 | ||||||||||||||||
Long Gilt Future | 43 | December 2021 | 7,581,364 | (16,011 | ) | |||||||||||||||
Low Sulphur Gasoil Futures | 28 | March 2022 | 1,649,900 | 13,007 | ||||||||||||||||
MSCI Emerging Markets Futures | 160 | September 2021 | 10,393,600 | (584,884 | ) | |||||||||||||||
MSCI Singapore IX ETS Futures | 29 | September 2021 | 759,593 | (11,681 | ) | |||||||||||||||
Natural Gas Futures | 94 | December 2021 | 4,289,220 | 314,899 | ||||||||||||||||
NY Harbor ULSD Futures | 18 | December 2021 | 1,598,184 | 3,263 | ||||||||||||||||
Platinum Futures | 18 | October 2021 | 912,690 | (56,484 | ) | |||||||||||||||
S&P 400 E-Mini Futures | 6 | September 2021 | 1,651,200 | 15,872 | ||||||||||||||||
Silver Futures | 11 | December 2021 | 1,320,330 | 8,528 | ||||||||||||||||
Soybean Futures | 28 | March 2022 | 1,827,350 | (35,598 | ) | |||||||||||||||
Soybean Meal Futures | 34 | March 2022 | 1,187,620 | (26,049 | ) | |||||||||||||||
Soybean Oil Futures | 37 | March 2022 | 1,299,588 | (21,513 | ) | |||||||||||||||
SPI 200 Futures | 24 | September 2021 | 3,281,879 | 85,101 | ||||||||||||||||
Sugar 11 (World) Futures | 55 | February 2022 | 1,265,880 | 152,913 | ||||||||||||||||
TOPIX Index Futures | 46 | September 2021 | 8,214,062 | 22,675 | ||||||||||||||||
U.S. T-Note 5 Yr (CBT) Futures | 64 | December 2021 | 7,918,000 | 10,950 | ||||||||||||||||
U.S. T-Note 10 Yr (CBT) Futures | 85 | December 2021 | 11,343,516 | 35,078 | ||||||||||||||||
Wheat Futures (CBT) | 34 | March 2022 | 1,252,900 | (24,315 | ) | |||||||||||||||
WTI Crude Futures | 42 | February 2022 | 2,806,440 | 6,533 | ||||||||||||||||
Sold Contracts | ||||||||||||||||||||
BCOM Commodity Index Futures | 1,010 | September 2021 | 9,696,000 | (269,801 | ) | |||||||||||||||
FTSE 100 Index Futures | 8 | September 2021 | 780,530 | 979 | ||||||||||||||||
Japan 10 Yr Bond (OSE) Futures | 9 | September 2021 | 12,447,757 | (66,727 | ) | |||||||||||||||
LME Nickel Futures | 5 | November 2021 | 586,620 | (25,696 | ) | |||||||||||||||
LME Primary Aluminum Futures | 2 | November 2021 | 135,900 | (5,656 | ) | |||||||||||||||
LME Primary Aluminum Futures | 5 | September 2021 | 339,125 | (35,422 | ) | |||||||||||||||
LME Zinc Futures | 6 | November 2021 | 450,713 | (7,745 | ) | |||||||||||||||
NASDAQ 100 E-MINI Futures | 8 | September 2021 | 2,493,200 | (255,381 | ) | |||||||||||||||
OMXS30 Index Futures | 7 | September 2021 | 190,930 | 1,812 | ||||||||||||||||
S&P 500 E-Mini Futures | 7 | September 2021 | 1,582,175 | (99,324 | ) | |||||||||||||||
S&P TSX 60 Index Futures | 14 | September 2021 | 2,729,537 | (78,371 | ) | |||||||||||||||
TOPIX Index Futures | 3 | September 2021 | 535,700 | (1,518 | ) | |||||||||||||||
U.S. T-Note 10 Yr (CBT) Futures | 84 | December 2021 | 11,210,063 | (47,374 | ) | |||||||||||||||
|
| |||||||||||||||||||
$ | (529,260 | ) | ||||||||||||||||||
|
|
FORWARD CURRENCY EXCHANGE CONTRACTS
Counterparty | Contracts to Deliver (000) | In Exchange For (000) | Settlement Date | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||||||||
Bank of America, NA | USD | 603 | COP | 2,316,769 | 09/16/2021 | $ | 11,384 | |||||||||||||||||||||||
Bank of America, NA | CAD | 13,542 | USD | 10,822 | 09/24/2021 | 89,213 | ||||||||||||||||||||||||
Bank of America, NA | USD | 932 | CAD | 1,166 | 09/24/2021 | (7,864 | ) | |||||||||||||||||||||||
Bank of America, NA | ILS | 3,070 | USD | 954 | 09/30/2021 | (3,707 | ) | |||||||||||||||||||||||
Bank of America, NA | RUB | 69,776 | USD | 944 | 09/30/2021 | (4,947 | ) | |||||||||||||||||||||||
Bank of America, NA | USD | 3,035 | RUB | 226,588 | 09/30/2021 | 47,540 | ||||||||||||||||||||||||
Bank of America, NA | DKK | 3,946 | USD | 629 | 10/13/2021 | 1,651 | ||||||||||||||||||||||||
Bank of America, NA | USD | 946 | CHF | 867 | 10/28/2021 | 2,285 |
28
Counterparty | Contracts to Deliver (000) | In Exchange For (000) | Settlement Date | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||
Bank of America, NA | EUR | 8,861 | USD | 10,527 | 11/08/2021 | $ | 50,753 | |||||||||||||||||
Bank of America, NA | USD | 3,569 | EUR | 3,004 | 11/08/2021 | (17,205 | ) | |||||||||||||||||
Barclays Bank PLC | MYR | 12,656 | USD | 3,065 | 09/23/2021 | 21,637 | ||||||||||||||||||
Barclays Bank PLC | MYR | 5,845 | USD | 1,403 | 09/23/2021 | (3,031 | ) | |||||||||||||||||
Barclays Bank PLC | USD | 6,752 | MYR | 27,924 | 09/23/2021 | (36,643 | ) | |||||||||||||||||
Barclays Bank PLC | USD | 2,836 | TWD | 79,156 | 10/21/2021 | 38,447 | ||||||||||||||||||
BNP Paribas SA | CLP | 728,056 | USD | 954 | 09/16/2021 | 13,655 | ||||||||||||||||||
BNP Paribas SA | NZD | 8,939 | USD | 6,218 | 10/15/2021 | (80,131 | ) | |||||||||||||||||
BNP Paribas SA | USD | 716 | TWD | 20,055 | 10/21/2021 | 11,871 | ||||||||||||||||||
BNP Paribas SA | KRW | 1,577,050 | USD | 1,361 | 10/28/2021 | 1,162 | ||||||||||||||||||
BNP Paribas SA | USD | 1,420 | AUD | 1,947 | 11/09/2021 | 4,709 | ||||||||||||||||||
Citibank, NA | CLP | 483,628 | USD | 613 | 09/16/2021 | (11,473 | ) | |||||||||||||||||
Citibank, NA | USD | 956 | CLP | 748,674 | 09/16/2021 | 10,669 | ||||||||||||||||||
Citibank, NA | USD | 1,895 | CLP | 1,420,552 | 09/16/2021 | (59,984 | ) | |||||||||||||||||
Citibank, NA | USD | 1,406 | CNY | 9,155 | 09/16/2021 | 10,307 | ||||||||||||||||||
Citibank, NA | HUF | 283,110 | USD | 942 | 09/17/2021 | (15,779 | ) | |||||||||||||||||
Citibank, NA | USD | 961 | HUF | 287,723 | 09/17/2021 | 12,447 | ||||||||||||||||||
Citibank, NA | INR | 97,395 | USD | 1,293 | 10/08/2021 | (36,663 | ) | |||||||||||||||||
Citibank, NA | USD | 1,397 | SEK | 11,947 | 10/13/2021 | (11,748 | ) | |||||||||||||||||
Citibank, NA | TWD | 53,024 | USD | 1,901 | 10/21/2021 | (24,460 | ) | |||||||||||||||||
Citibank, NA | CHF | 1,746 | USD | 1,934 | 10/28/2021 | 25,165 | ||||||||||||||||||
Citibank, NA | USD | 953 | KRW | 1,112,041 | 10/28/2021 | 5,698 | ||||||||||||||||||
Goldman Sachs Bank USA | BRL | 7,568 | USD | 1,471 | 09/02/2021 | 7,825 | ||||||||||||||||||
Goldman Sachs Bank USA | BRL | 3,682 | USD | 702 | 09/02/2021 | (9,941 | ) | |||||||||||||||||
Goldman Sachs Bank USA | USD | 513 | BRL | 2,666 | 09/02/2021 | 2,110 | ||||||||||||||||||
Goldman Sachs Bank USA | USD | 1,668 | BRL | 8,584 | 09/02/2021 | (8,191 | ) | |||||||||||||||||
Goldman Sachs Bank USA | USD | 965 | TWD | 26,676 | 10/21/2021 | 3,377 | ||||||||||||||||||
HSBC Bank USA | ILS | 3,133 | USD | 961 | 09/30/2021 | (16,350 | ) | |||||||||||||||||
HSBC Bank USA | USD | 948 | SGD | 1,292 | 11/10/2021 | 12,464 | ||||||||||||||||||
JPMorgan Chase Bank, NA | BRL | 3,885 | USD | 715 | 09/02/2021 | (36,390 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | USD | 755 | BRL | 3,885 | 09/02/2021 | (4,017 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | USD | 1,319 | INR | 97,395 | 10/08/2021 | 10,913 | ||||||||||||||||||
JPMorgan Chase Bank, NA | USD | 970 | EUR | 819 | 11/08/2021 | (1,736 | ) | |||||||||||||||||
JPMorgan Chase Bank, NA | HKD | 41,560 | USD | 5,335 | 11/10/2021 | (9,616 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | BRL | 1 | USD | 0 | 09/02/2021 | (1 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 1 | BRL | 0 | 09/02/2021 | (1 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | CNY | 9,153 | USD | 1,397 | 09/16/2021 | (19,155 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 458 | CLP | 346,737 | 09/16/2021 | (9,910 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | PLN | 3,673 | EUR | 802 | 09/17/2021 | (11,902 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 1,437 | CZK | 30,895 | 09/17/2021 | (1,849 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 957 | PLN | 3,673 | 09/17/2021 | 1,696 | ||||||||||||||||||
Morgan Stanley Capital Services, Inc. | MYR | 3,669 | USD | 878 | 09/23/2021 | (4,115 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 10 | BRL | 01 | 10/04/2021 | 1 | ||||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 906 | NOK | 7,926 | 10/13/2021 | 5,668 | ||||||||||||||||||
Morgan Stanley Capital Services, Inc. | AUD | 6,883 | USD | 4,966 | 11/09/2021 | (70,579 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | GBP | 5,582 | USD | 7,658 | 11/10/2021 | (17,528 | ) | |||||||||||||||||
Morgan Stanley Capital Services, Inc. | USD | 1,130 | GBP | 824 | 11/10/2021 | 2,587 | ||||||||||||||||||
Natwest Markets PLC | COP | 2,316,161 | USD | 580 | 09/16/2021 | (34,439 | ) | |||||||||||||||||
Natwest Markets PLC | MYR | 5,755 | USD | 1,390 | 09/23/2021 | 6,534 | ||||||||||||||||||
Societe Generale | SEK | 21,045 | USD | 2,445 | 10/13/2021 | 5,850 | ||||||||||||||||||
Societe Generale | USD | 909 | SEK | 7,820 | 10/13/2021 | (2,174 | ) | |||||||||||||||||
Standard Chartered Bank | TWD | 125,887 | USD | 4,510 | 10/21/2021 | (61,546 | ) | |||||||||||||||||
Standard Chartered Bank | USD | 2,336 | KRW | 2,674,690 | 10/28/2021 | (29,817 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 584 | ZAR | 8,349 | 09/16/2021 | (10,313 | ) |
29
Counterparty | Contracts to Deliver (000) | In Exchange For (000) | Settlement Date | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||
State Street Bank & Trust Co. | ZAR | 6,734 | USD | 452 | 09/16/2021 | $ | (10,807 | ) | ||||||||||||||||
State Street Bank & Trust Co. | EUR | 405 | CZK | 10,298 | 09/17/2021 | (90 | ) | |||||||||||||||||
State Street Bank & Trust Co. | EUR | 405 | HUF | 143,449 | 09/17/2021 | 7,173 | ||||||||||||||||||
State Street Bank & Trust Co. | USD | 930 | CZK | 19,950 | 09/17/2021 | (3,412 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 489 | PLN | 1,868 | 09/17/2021 | (763 | ) | |||||||||||||||||
State Street Bank & Trust Co. | ILS | 1,527 | USD | 475 | 09/30/2021 | (609 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 477 | ILS | 1,551 | 09/30/2021 | 6,506 | ||||||||||||||||||
State Street Bank & Trust Co. | THB | 62,705 | USD | 1,888 | 10/07/2021 | (57,362 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 962 | THB | 31,608 | 10/07/2021 | 18,316 | ||||||||||||||||||
State Street Bank & Trust Co. | NOK | 10,415 | USD | 1,167 | 10/13/2021 | (30,963 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 481 | NOK | 4,177 | 10/13/2021 | (890 | ) | |||||||||||||||||
State Street Bank & Trust Co. | NZD | 686 | USD | 473 | 10/15/2021 | (10,549 | ) | |||||||||||||||||
State Street Bank & Trust Co. | USD | 479 | NZD | 686 | 10/15/2021 | 3,840 | ||||||||||||||||||
State Street Bank & Trust Co. | CHF | 867 | USD | 961 | 10/28/2021 | 12,523 | ||||||||||||||||||
State Street Bank & Trust Co. | USD | 514 | CHF | 463 | 10/28/2021 | (6,886 | ) | |||||||||||||||||
State Street Bank & Trust Co. | JPY | 2,460,164 | USD | 22,406 | 11/17/2021 | 29,865 | ||||||||||||||||||
State Street Bank & Trust Co. | USD | 1,033 | JPY | 113,101 | 11/17/2021 | (4,404 | ) | |||||||||||||||||
UBS AG | CLP | 540,026 | USD | 702 | 09/16/2021 | 5,001 | ||||||||||||||||||
UBS AG | CZK | 40,989 | USD | 1,907 | 09/17/2021 | 3,167 | ||||||||||||||||||
UBS AG | CAD | 1,216 | USD | 964 | 09/24/2021 | (28 | ) | |||||||||||||||||
|
| |||||||||||||||||||||||
$ | (295,959 | ) | ||||||||||||||||||||||
|
|
CENTRALLY CLEARED INTEREST RATE SWAPS
Rate Type | ||||||||||||||||||||||||
Notional | 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) | |||||||||||||||||
USD | 30,190 | 02/15/2024 | 3 Month LIBOR | 2.605% | Quarterly/ Semi-Annual | $ | 1,661,100 | $ | — | $ | 1,661,100 | |||||||||||||
AUD | 15,000 | 07/09/2025 | 6 Month BBSW | 3.168% | Semi-Annual | 1,120,325 | — | 1,120,325 | ||||||||||||||||
AUD | 4,740 | 02/23/2027 | 6 Month BBSW | 3.040% | Semi-Annual | 405,919 | — | 405,919 | ||||||||||||||||
NZD | 20,260 | 02/24/2027 | 3 Month BKBM | 3.508% | Quarterly/ Semi-Annual | 1,380,153 | — | 1,380,153 | ||||||||||||||||
AUD | 9,490 | 02/27/2027 | 6 Month BBSW | 2.975% | Semi-Annual | 786,654 | — | 786,654 | ||||||||||||||||
NZD | 10,120 | 02/28/2027 | 3 Month BKBM | 3.445% | Quarterly/ Semi-Annual | 661,938 | — | 661,938 | ||||||||||||||||
AUD | 8,630 | 11/13/2030 | 6 Month BBSW | 0.872% | Semi-Annual | (225,559 | ) | — | (225,559 | ) |
30
Rate Type | ||||||||||||||||||||||||||
Notional Amount | 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) | |||||||||||||||||||
NZD | 9,130 | 11/16/2030 | 3 Month BKBM | 0.839% | | Quarterly/ Semi-Annual | $ | (579,382 | ) | $ | — | $ | (579,382 | ) | ||||||||||||
USD | 4,800 | 04/01/2031 | 1.744% | 3 Month LIBOR | | Semi-Annual/ Quarterly | (232,095 | ) | — | (232,095 | ) | |||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||
$ | 4,979,053 | $ | — | $ | 4,979,053 | |||||||||||||||||||||
|
|
|
|
|
|
VARIANCE SWAPS
Swap Counterparty & | Volatility Strike Rate | Payment Frequency | Notional Amount (000) | Market Value | Upfront Premiums (Paid)/ Received | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||||
Buy Contracts |
| |||||||||||||||||||||||||||
Citibank, NA |
| |||||||||||||||||||||||||||
USD/JPY 04/19/2022* | 6.85 | % | Maturity | USD | 68 | $ | (82,340 | ) | $ | — | $ | (82,340 | ) | |||||||||||||||
USD/JPY 04/19/2022* | 6.85 | Maturity | USD | 110 | (133,197 | ) | — | (133,197 | ) | |||||||||||||||||||
UBS AG |
| |||||||||||||||||||||||||||
USD/JPY 09/30/2021* | 7.85 | Maturity | USD | 61 | (148,269 | ) | — | (148,269 | ) | |||||||||||||||||||
Sale Contracts |
| |||||||||||||||||||||||||||
Goldman Sachs Bank USA |
| |||||||||||||||||||||||||||
USD/JPY 09/30/2021* | 7.20 | Maturity | USD | 53 | 95,759 | — | 95,759 | |||||||||||||||||||||
|
|
|
|
|
| |||||||||||||||||||||||
$ | (268,047 | ) | $ | — | $ | (268,047 | ) | |||||||||||||||||||||
|
|
|
|
|
|
* | Termination date |
(a) | Position, or a portion thereof, has been segregated to collateralize margin requirements for open centrally cleared swaps. |
(b) | Non-income producing security. |
(c) | Represents entire or partial securities out on loan. |
(d) | 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 August 31, 2021, the aggregate market value of these securities amounted to $618,105 or 0.3% of net assets. |
(e) | Fair valued by the Adviser. |
(f) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(g) | When-Issued or delayed delivery security. |
(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. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618. |
(i) | Affiliated investments. |
(j) | The rate shown represents the 7-day yield as of period end. |
(k) | As of August 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $54,767,043 and gross unrealized depreciation of investments was $(9,515,323), resulting in net unrealized appreciation of $45,251,720. |
Currency Abbreviations:
AUD – Australian Dollar
BRL – Brazilian Real
CAD – Canadian Dollar
CHF – Swiss Franc
CLP – Chilean Peso
CNY – Chinese Yuan Renminbi
31
COP – Colombian Peso
CZK – Czech Koruna
DKK – Danish Krone
EUR – Euro
GBP – Great British Pound
HKD – Hong Kong Dollar
HUF – Hungarian Forint
ILS – Israeli Shekel
INR – Indian Rupee
JPY – Japanese Yen
KRW – South Korean Won
MYR – Malaysian Ringgit
NOK – Norwegian Krone
NZD – New Zealand Dollar
PLN – Polish Zloty
RUB – Russian Ruble
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
BBSW – Bank Bill Swap Reference Rate (Australia)
BCOM – Bloomberg Commodity Index
BKBM – Bank Bill Benchmark (New Zealand)
CBT – Chicago Board of Trade
CPI – Consumer Price Index
ETF – Exchange Traded Fund
ETS – Emission Trading Scheme
FTSE – Financial Times Stock Exchange
GDR – Global Depositary Receipt
KC HRW – Kansas City Hard Red Winter
LIBOR – London Interbank Offered Rate
LME – London Metal Exchange
MSCI – Morgan Stanley Capital International
NASDAQ – National Association of Securities Dealers Automated Quotations
OMXS – Stockholm Stock Exchange
OSE – Osaka Securities Exchange
RBOB – Reformulated Gasoline Blend-Stock for Oxygen Blending (Unleaded Gas)
REG – Registered Shares
REIT – Real Estate Investment Trust
SPI – Share Price Index
TIPS – Treasury Inflation Protected Security
TOPIX – Tokyo Price Index
TSX – Toronto Stock Exchange
ULSD – Ultra-Low Sulfur Diesel
WTI – West Texas Intermediate
COUNTRY BREAKDOWN1
August 31, 2021 (unaudited)
66.9% | United States | |||
9.9% | Japan | |||
3.1% | Luxembourg | |||
2.6% | Canada | |||
1.6% | United Kingdom | |||
1.2% | France | |||
1.0% | Switzerland | |||
0.9% | Germany | |||
0.8% | China | |||
0.7% | Sweden | |||
0.6% | Mexico | |||
0.5% | Denmark | |||
0.5% | Netherlands | |||
2.1% | Other | |||
7.6% | Short-Term Investments | |||
|
| |||
100.0% | Total Investments | |||
|
|
1 | All data are as of August 31, 2021. 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 0.4% or less in the following: Argentina, Australia, Austria, Belgium, Bermuda, Brazil, Chile, Colombia, Finland, Ireland, Italy, Jordan, Mongolia, Norway, Portugal, Russia, South Africa, Spain, Turkey, United Arab Emirates and Zambia. |
32
AB Global Risk Allocation Fund, Inc.
August 31, 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) |
The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.
Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.
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.
33
The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of August 31, 2021:
Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: |
| |||||||||||||||
Inflation-Linked Securities | $ | — | $ | 117,564,165 | $ | — | $ | 117,564,165 | ||||||||
Common Stocks: | ||||||||||||||||
Information Technology | 11,805,319 | 1,082,173 | — | 12,887,492 | ||||||||||||
Financials | 6,717,700 | 4,368,924 | — | 11,086,624 | ||||||||||||
Health Care | 6,264,062 | 2,357,600 | — | 8,621,662 | ||||||||||||
Industrials | 5,766,035 | 1,966,229 | 13,369 | 7,745,633 | ||||||||||||
Consumer Staples | 4,765,421 | 1,706,863 | — | 6,472,284 | ||||||||||||
Consumer Discretionary | 4,549,986 | 1,648,576 | — | 6,198,562 | ||||||||||||
Materials | 4,109,441 | 1,896,297 | — | 6,005,738 | ||||||||||||
Utilities | 3,103,157 | 1,932,185 | — | 5,035,342 | ||||||||||||
Communication Services | 2,829,734 | 1,110,317 | — | 3,940,051 | ||||||||||||
Energy | 1,578,305 | 1,358,166 | — | 2,936,471 | ||||||||||||
Real Estate | 2,322,579 | 574,989 | 0 | (a) | 2,897,568 | |||||||||||
Investment Companies | 18,023,715 | — | 0 | (a) | 18,023,715 | |||||||||||
Governments - Sovereign Bonds | — | 1,328,968 | — | 1,328,968 | ||||||||||||
Preferred Stocks | 50,942 | — | — | 50,942 | ||||||||||||
Warrants | 2,306 | — | — | 2,306 | ||||||||||||
Short-Term Investments | 17,453,700 | — | — | 17,453,700 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 2,683,534 | — | — | 2,683,534 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
Total Investments in Securities | 92,025,936 | 138,895,452 | 13,369 | 230,934,757 | ||||||||||||
Other Financial Instruments(b): | ||||||||||||||||
Assets: |
| |||||||||||||||
Futures | 1,290,068 | — | — | 1,290,068 | ||||||||||||
Forward Currency Exchange Contracts | — | 504,009 | — | 504,009 | ||||||||||||
Centrally Cleared Interest Rate Swaps | — | 6,016,089 | — | 6,016,089 | ||||||||||||
Variance Swaps | — | 95,759 | — | 95,759 | ||||||||||||
Liabilities: |
| |||||||||||||||
Futures | (1,819,328 | ) | — | — | (1,819,328 | ) | ||||||||||
Forward Currency Exchange Contracts | — | (799,968 | ) | — | (799,968 | ) | ||||||||||
Centrally Cleared Interest Rate Swaps | — | (1,037,036 | ) | — | (1,037,036 | ) | ||||||||||
Variance Swaps | — | (363,806 | ) | — | (363,806 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Total | $ | 91,496,676 | $ | 143,310,499 | $ | 13,369 | $ | 234,820,544 | ||||||||
|
|
|
|
|
|
|
|
(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, options written and swaptions written which are valued at market value. |
34
A summary of the Fund’s transactions in AB mutual funds for the nine months ended August 31, 2021 is as follows:
Fund | Market Value 11/30/2020 (000) | Purchases at Cost (000) | Sales Proceeds (000) | Market Value 08/31/2021 (000) | Dividend Income (000) | |||||||||||||||
Government Money Market Portfolio | $ | 17,913 | $ | 104,677 | $ | 105,136 | $ | 17,454 | $ | 2 | ||||||||||
Government Money Market Portfolio* | 4,092 | 80,717 | 82,125 | 2,684 | 0 | ** | ||||||||||||||
Total | $ | 22,005 | $ | 185,394 | $ | 187,261 | $ | 20,138 | $ | 2 |
* | Investments of cash collateral for securities lending transactions. |
** | Amount less than $500. |
35