Ab Global Risk Allocation Fund NPORT-P Ab Global Risk Allocation Fund, Inc. (Feb 2022 report)

AB Global Risk Allocation Fund, Inc.

Consolidated Portfolio of Investments

February 28, 2022 (unaudited)

	Principal Amount (000)			U.S. $ Value
INFLATION-LINKED SECURITIES – 48.6%
Japan – 10.1%
Japanese Government CPI Linked Bond Series 21 0.10%, 03/10/2026		JPY	2,451,414		$     22,080,100
United States – 38.5%
U.S. Treasury Inflation Index 0.25%, 01/15/2025 (TIPS)		U.S.$	16,003		17,063,622
0.375%, 07/15/2025 (TIPS)(a)			55,890		60,265,637
0.375%, 01/15/2027 (TIPS)			6,497		7,056,678
					84,385,937
Total Inflation-Linked Securities (cost $103,124,721)					106,466,037
	Shares
COMMON STOCKS – 32.1%
Information Technology – 5.4%
Communications Equipment – 0.2%
Cisco Systems, Inc./Delaware			2,148		119,794
F5, Inc.(b)			462		92,793
Juniper Networks, Inc.			2,077		70,182
Motorola Solutions, Inc.			840		185,161
Nokia Oyj(b)			5,115		27,659
Telefonaktiebolaget LM Ericsson - Class B			4,594		42,273
					537,862
Electronic Equipment, Instruments & Components – 0.5%
Amphenol Corp. - Class A			2,168		164,790
Arrow Electronics, Inc.(b)			775		94,457
Avnet, Inc.			1,566		65,882
CDW Corp./DE			1,016		175,219
Corning, Inc.			2,176		87,910
Flex Ltd.(b)			3,294		54,318
Hexagon AB			5,852		79,059
TE Connectivity Ltd.			878		125,053
Teledyne Technologies, Inc.(b)			130		55,819
Trimble, Inc.(b)			1,320		92,070
Vontier Corp.			269		6,537
					1,001,114
IT Services – 1.4%
Accenture PLC - Class A			613		193,720
Akamai Technologies, Inc.(b)			806		87,258
Alliance Data Systems Corp.			215		14,502
Amadeus IT Group SA - Class A(b)			787		51,924
Atos SE			247		8,775
Automatic Data Processing, Inc.			831		169,890
Black Knight, Inc.(b)			362		20,341
Broadridge Financial Solutions, Inc.			1,174		171,650
Capgemini SE			360		75,359

1

Company	Shares		U.S. $ Value
CGI, Inc.(b)		1,595	$	130,771
Cognizant Technology Solutions Corp. - Class A		1,099		94,657
DXC Technology Co.(b)		635		21,609
Edenred		463		21,069
Fidelity National Information Services, Inc.		1,949		185,603
Fiserv, Inc.(b)		2,368		231,283
FleetCor Technologies, Inc.(b)		249		58,316
Gartner, Inc.(b)		575		161,241
Global Payments, Inc.		1,430		190,733
International Business Machines Corp.		502		61,500
Kyndryl Holdings, Inc.(b)		100		1,586
Mastercard, Inc. - Class A		649		234,172
Paychex, Inc.		1,472		175,256
PayPal Holdings, Inc.(b)		1,263		141,368
Sabre Corp.(b)		2,420		26,451
VeriSign, Inc.(b)		824		176,105
Visa, Inc. - Class A(c)		718		155,174
Western Union Co. (The) - Class W		3,117		56,667
Worldline SA/France(b)		725		36,970
				2,953,950
Semiconductors & Semiconductor Equipment – 1.3%
Advanced Micro Devices, Inc.(b)		3,412		420,836
Analog Devices, Inc.		1,478		236,909
Applied Materials, Inc.		967		129,771
ASML Holding NV		269		179,967
Broadcom, Inc.		205		120,425
Infineon Technologies AG		1,599		54,104
Intel Corp.		1,884		89,867
KLA Corp.		609		212,237
Lam Research Corp.		384		215,558
Marvell Technology, Inc.		2,554		174,515
Microchip Technology, Inc.		1,578		110,981
Micron Technology, Inc.		1,172		104,144
NVIDIA Corp.		1,024		249,702
NXP Semiconductors NV		516		98,102
Qorvo, Inc.(b)		444		60,730
QUALCOMM, Inc.		984		169,238
Skyworks Solutions, Inc.		431		59,551
STMicroelectronics NV		1,365		57,300
Texas Instruments, Inc.		847		143,982
				2,887,919
Software – 1.7%
Adobe, Inc.(b)		449		209,988
ANSYS, Inc.(b)		635		205,861
Autodesk, Inc.(b)		395		86,991
BlackBerry Ltd.(b)		2,745		18,841
Cadence Design Systems, Inc.(b)		1,796		271,968
CDK Global, Inc.		1,015		46,020
Cerence, Inc.(b)		343		12,386
Citrix Systems, Inc.		604		61,910
Constellation Software, Inc./Canada		106		178,645
Dassault Systemes SE		3,230		155,803
Fortinet, Inc.(b)		1,023		352,444

2

Company	Shares		U.S. $ Value
Intuit, Inc.		570	$	270,391
Micro Focus International PLC (ADR)(c)		345		1,777
Microsoft Corp.		995		297,296
NortonLifeLock, Inc.		1,835		53,178
Nuance Communications, Inc.(b)		2,749		152,625
Open Text Corp.		1,658		72,154
Oracle Corp.		1,536		116,690
Palo Alto Networks, Inc.(b) (c)		297		176,492
Sage Group PLC (The)		5,404		50,697
salesforce.com, Inc.(b)		534		112,423
SAP SE		466		52,567
ServiceNow, Inc.(b)		428		248,206
Splunk, Inc.(b)		575		67,908
Synopsys, Inc.(b)		974		304,268
VMware, Inc. - Class A		1,129		132,454
Workday, Inc. - Class A(b)		384		87,955
				3,797,938
Technology Hardware, Storage & Peripherals – 0.3%
Apple, Inc.		1,628		268,815
Dell Technologies, Inc. - Class C(b)		1,368		69,713
Hewlett Packard Enterprise Co.		3,043		48,445
HP, Inc.		2,579		88,615
NetApp, Inc.		1,082		84,807
Seagate Technology Holdings PLC		978		100,891
Topicus.com, Inc.(b)		197		13,851
Western Digital Corp.(b)		465		23,687
Xerox Holdings Corp.		1,717		33,842
				732,666
				11,911,449
Financials – 5.0%
Banks – 1.4%
ABN AMRO Bank NV (GDR)		1,125		14,971
Agricultural Bank of China Ltd. - Class H		420,000		159,062
Banco Bilbao Vizcaya Argentaria SA		3,189		18,923
Banco de Sabadell SA(b)		16,277		14,074
Banco Santander SA		3,967		13,210
Bank of America Corp.		1,350		59,670
Bank of China Ltd. - Class H		357,000		138,981
Bank of Communications Co., Ltd. - Class H		226,000		154,930
Bank of Ireland Group PLC(b)		2,334		15,487
Bank of Montreal		747		85,297
Bank of Nova Scotia (The)		862		62,465
Bankinter SA		3,395		19,278
Barclays PLC		10,110		24,704
BNP Paribas SA		331		19,206
CaixaBank SA		8,772		28,812
Canadian Imperial Bank of Commerce		584		73,918
China CITIC Bank Corp., Ltd. - Class H		265,000		124,527
China Construction Bank Corp. - Class H		233,000		174,742
China Everbright Bank Co., Ltd. - Class H		345,000		128,308
China Minsheng Banking Corp., Ltd. - Class H		212,400		82,730
Citigroup, Inc.		564		33,406
Citizens Financial Group, Inc.		745		39,053
Comerica, Inc.		403		38,482

3

Company	Shares		U.S. $ Value
Commerzbank AG(b)		2,045	$	17,090
Credit Agricole SA		1,641		20,904
Danske Bank A/S		858		14,533
DNB Bank ASA		1,818		40,702
Erste Group Bank AG		821		29,184
Fifth Third Bancorp		1,167		55,829
First Citizens BancShares, Inc./NC - Class A		43		33,903
First Republic Bank/CA		402		69,651
HSBC Holdings PLC		5,317		36,912
Huntington Bancshares, Inc.		2,387		37,046
ING Groep NV		1,574		18,382
Intesa Sanpaolo SpA		18,206		46,540
JPMorgan Chase & Co.		448		63,526
KBC Group NV		411		29,611
KeyCorp		1,685		42,243
Lloyds Banking Group PLC		36,308		23,401
M&T Bank Corp.		381		69,430
National Bank of Canada		1,132		90,765
NatWest Group PLC		6,922		21,210
Nedbank Group Ltd.		441		6,269
Nordea Bank Abp		3,090		34,186
Nordea Bank Abp (Finland)		88		971
People’s United Financial, Inc.		2,269		47,831
PNC Financial Services Group, Inc. (The)		291		57,982
Raiffeisen Bank International AG		1,044		17,012
Regions Financial Corp.		1,804		43,639
Royal Bank of Canada		718		79,425
Signature Bank/New York NY		215		74,151
Skandinaviska Enskilda Banken AB - Class A		3,315		38,190
Societe Generale SA		422		11,933
Standard Chartered PLC		2,940		20,952
Svenska Handelsbanken AB - Class A		2,923		27,788
Swedbank AB - Class A		1,696		27,402
Toronto-Dominion Bank (The)		1,045		84,326
Truist Financial Corp.		1,653		102,850
UniCredit SpA		1,079		13,633
US Bancorp		800		45,232
Wells Fargo & Co.		690		36,825
				3,055,695
Capital Markets – 1.3%
3i Group PLC		4,463		79,504
ABRDN PLC		11,793		32,687
Affiliated Managers Group, Inc.		225		31,131
Ameriprise Financial, Inc.		250		74,948
Bank of New York Mellon Corp. (The)		853		45,337
BlackRock, Inc. - Class A		109		81,084
Brookfield Asset Management, Inc. - Class A		41		2,240
Brookfield Asset Management, Inc. - Class A (Canada)		1,867		102,033
Charles Schwab Corp. (The)		1,564		132,095
CI Financial Corp.		2,261		37,014
CITIC Securities Co., Ltd. - Class H		92,000		222,889
CME Group, Inc. - Class A		377		89,172
Credit Suisse Group AG		1,310		10,974
Deutsche Bank AG(b)		1,113		13,740
Deutsche Boerse AG		355		60,429
Franklin Resources, Inc.		837		24,884
Goldman Sachs Group, Inc. (The)		162		55,289
Haitong Securities Co., Ltd. - Class H		98,800		85,016

4

Company	Shares		U.S. $ Value
Hargreaves Lansdown PLC		1,868	$	28,312
IGM Financial, Inc.		1,289		45,794
Intercontinental Exchange, Inc.		727		93,143
Invesco Ltd.		1,109		23,555
Investec PLC		4,737		25,946
Jefferies Financial Group, Inc.		1,464		52,031
Julius Baer Group Ltd.		634		37,125
London Stock Exchange Group PLC		1,249		109,108
Moody’s Corp.		325		104,660
Morgan Stanley		1,891		171,589
MSCI, Inc. - Class A		361		181,110
Nasdaq, Inc.		753		128,876
Ninety One PLC		2,368		7,910
Northern Trust Corp.		412		46,927
Onex Corp.		648		43,517
Partners Group Holding AG		68		91,922
Quilter PLC(d)		3,254		5,659
Raymond James Financial, Inc.		627		68,751
S&P Global, Inc.		626		235,088
Schroders PLC		944		38,646
SEI Investments Co.		695		40,713
St. James’s Place PLC		2,130		39,933
State Street Corp.		421		35,924
T Rowe Price Group, Inc.		627		90,639
UBS Group AG		1,814		33,372
				2,960,716
Consumer Finance – 0.2%
Ally Financial, Inc.		1,228		61,277
American Express Co.		516		100,383
Capital One Financial Corp.		376		57,629
Discover Financial Services		568		70,114
Navient Corp.		1,339		23,580
Provident Financial PLC(b)		1,368		5,280
Synchrony Financial		1,033		44,192
				362,455
Diversified Financial Services – 0.3%
Berkshire Hathaway, Inc. - Class B(b)		231		74,255
Element Fleet Management Corp.		3,194		31,348
EXOR NV		480		36,367
Groupe Bruxelles Lambert SA		1,242		128,965
Industrivarden AB		44		1,215
Industrivarden AB - Class C		1,828		49,547
Investor AB		3,608		73,468
Jackson Financial, Inc.		38		1,554
Kinnevik AB(b)		1,368		34,830
L E Lundbergforetagen AB - Class B		856		41,334
M&G PLC		1,555		4,281
Voya Financial, Inc.(c)		775		52,196
Wendel SE		294		29,846
				559,206
Insurance – 1.8%
Admiral Group PLC		1,243		49,516
Aegon NV		4,545		22,451
Aflac, Inc.		1,388		84,793
Ageas SA/NV		832		40,024

5

Company	Shares		U.S. $ Value
Alleghany Corp.(b)		66	$	43,687
Allianz SE		222		50,043
Allstate Corp. (The)		643		78,677
American International Group, Inc.		720		44,093
Aon PLC		435		127,081
Arch Capital Group Ltd.(b)		1,779		83,809
Arthur J Gallagher & Co.		958		151,546
Assicurazioni Generali SpA		1,915		37,873
Assurant, Inc.		420		71,278
Aviva PLC		5,185		29,053
Axis Capital Holdings Ltd.		710		38,780
Baloise Holding AG		288		48,310
Brighthouse Financial, Inc.(b)		60		3,136
Brookfield Asset Management Reinsurance Partners Ltd.(b)		12		665
China Life Insurance Co., Ltd. - Class H		44,000		72,892
Chubb Ltd.		371		75,550
Cincinnati Financial Corp.		705		86,567
CNP Assurances		1,623		39,558
Direct Line Insurance Group PLC		8,791		34,878
Everest Re Group Ltd.		214		63,819
Fairfax Financial Holdings Ltd.		85		41,206
Fidelity National Financial, Inc.		1,183		56,358
Gjensidige Forsikring ASA		2,409		59,586
Globe Life, Inc.		598		60,374
Great-West Lifeco, Inc.		2,017		60,677
Hannover Rueck SE		383		70,511
Hartford Financial Services Group, Inc. (The)		878		61,003
iA Financial Corp., Inc.		1,008		59,891
Intact Financial Corp.		960		137,687
Legal & General Group PLC		13,473		49,815
Lincoln National Corp.		446		30,069
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		3,395		5,676
Loews Corp.		1,014		62,199
Manulife Financial Corp.		2,171		43,985
Mapfre SA		8,898		17,467
Markel Corp.(b)		39		48,473
Marsh & McLennan Cos., Inc.		753		117,024
MetLife, Inc.		661		44,651
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		212		58,159
New China Life Insurance Co., Ltd. - Class H		37,000		105,889
NN Group NV		985		47,275
Old Mutual Ltd.		9,763		8,002
Poste Italiane SpA		5,111		58,621
Power Corp. of Canada		3,725		114,880
Principal Financial Group, Inc.		589		41,607
Progressive Corp. (The)		1,147		121,502
Prudential Financial, Inc.		336		37,518
Prudential PLC		1,555		23,509
Reinsurance Group of America, Inc. - Class A		376		41,683
RenaissanceRe Holdings Ltd.		388		58,503
Sampo Oyj - Class A		886		41,805
SCOR SE		791		25,753
Sun Life Financial, Inc.		1,344		70,683
Swiss Life Holding AG		132		80,543
Swiss Re AG		469		44,816
Travelers Cos., Inc. (The)		464		79,729

6

Company	Shares		U.S. $ Value
Trisura Group Ltd.(b)		28	$	767
Tryg A/S		4,038		91,363
UnipolSai Assicurazioni SpA		12,165		32,971
Unum Group		830		23,174
W R Berkley Corp.		1,102		99,511
Willis Towers Watson PLC		352		78,250
Zurich Insurance Group AG		154		70,685
				3,861,929
Mortgage Real Estate Investment Trusts (REITs) – 0.0%
AGNC Investment Corp.		2,408		31,087
Annaly Capital Management, Inc.(c)		3,658		25,460
				56,547
Thrifts & Mortgage Finance – 0.0%
New York Community Bancorp, Inc.		3,312		38,220
				10,894,768
Health Care – 3.6%
Biotechnology – 0.3%
AbbVie, Inc.		1,379		203,775
Alkermes PLC(b)		331		8,229
Amgen, Inc.		320		72,473
Biogen, Inc.(b)		169		35,661
BioMarin Pharmaceutical, Inc.(b)		341		26,639
Genmab A/S(b)		279		93,771
Gilead Sciences, Inc.		703		42,461
Grifols SA		2,271		43,058
Idorsia Ltd.(b)		213		4,260
Incyte Corp.(b)		189		12,909
Regeneron Pharmaceuticals, Inc.(b)		66		40,812
Seagen, Inc.(b)		303		39,048
United Therapeutics Corp.(b)		217		36,065
Vertex Pharmaceuticals, Inc.(b)		246		56,585
				715,746
Health Care Equipment & Supplies – 1.2%
Abbott Laboratories		1,269		153,067
Alcon, Inc.		184		14,215
Align Technology, Inc.(b)		301		153,950
Arjo AB - Class B		2,759		23,667
Baxter International, Inc.		1,040		88,369
Becton Dickinson and Co.		362		98,203
Boston Scientific Corp.(b)		1,769		78,137
Coloplast A/S - Class B		742		111,625
Cooper Cos., Inc. (The)		246		100,619
Demant A/S(b)		2,432		102,778
DENTSPLY SIRONA, Inc.		989		53,544
Dexcom, Inc.(b)		430		177,981
Edwards Lifesciences Corp.(b)		960		107,875
Getinge AB - Class B		2,759		107,089
Hologic, Inc.(b)		1,129		80,351
IDEXX Laboratories, Inc.(b)		330		175,676
Intuitive Surgical, Inc.(b)		549		159,391

7

Company	Shares		U.S. $ Value
Koninklijke Philips NV		488	$	16,669
Medtronic PLC		683		71,708
ResMed, Inc.		778		191,972
Smith & Nephew PLC		4,175		74,674
Sonova Holding AG		435		168,430
Stryker Corp.		486		127,988
Teleflex, Inc.		270		90,804
Zimmer Biomet Holdings, Inc.		375		47,696
				2,576,478
Health Care Providers & Services – 0.7%
AmerisourceBergen Corp. - Class A		482		68,699
Anthem, Inc.		274		123,807
Cardinal Health, Inc.		702		37,915
Centene Corp.(b)		956		78,985
Cigna Corp.		492		116,988
Covetrus, Inc.(b)		280		4,961
CVS Health Corp.		1,161		120,338
DaVita, Inc.(b)		632		71,271
Fresenius Medical Care AG & Co. KGaA		755		48,440
Fresenius SE & Co. KGaA		693		24,180
HCA Healthcare, Inc.		514		128,659
Henry Schein, Inc.(b)		702		60,639
Humana, Inc.		169		73,400
Laboratory Corp. of America Holdings(b)		407		110,403
McKesson Corp.		241		66,265
Mediclinic International PLC(b)		5,230		23,054
MEDNAX, Inc.(b)		637		14,950
Patterson Cos., Inc.		1,039		31,066
Quest Diagnostics, Inc.		556		72,986
UnitedHealth Group, Inc.		310		147,520
Universal Health Services, Inc. - Class B		362		52,103
				1,476,629
Health Care Technology – 0.0%
Cerner Corp.		701		65,368
Life Sciences Tools & Services – 0.6%
Agilent Technologies, Inc.		816		106,374
Danaher Corp.		776		212,942
Eurofins Scientific SE		1,160		117,714
Illumina, Inc.(b)		183		59,768
IQVIA Holdings, Inc.(b)		646		148,657
Lonza Group AG		278		192,349
Mettler-Toledo International, Inc.(b)		105		147,918
QIAGEN NV(b)		1,521		76,418
Thermo Fisher Scientific, Inc.		346		188,224
Waters Corp.(b)		286		90,585
				1,340,949
Pharmaceuticals – 0.8%
AstraZeneca PLC		729		88,607
AstraZeneca PLC (Sponsored ADR)		492		29,953
Bausch Health Cos., Inc.(b)		834		20,062
Bayer AG		526		30,383
Bristol-Myers Squibb Co.		1,220		83,777

8

Company	Shares		U.S. $ Value
Eli Lilly & Co.		693	$	173,215
GlaxoSmithKline PLC		3,649		76,097
Hikma Pharmaceuticals PLC		2,641		73,525
Jazz Pharmaceuticals PLC(b)		223		30,645
Johnson & Johnson		554		91,172
Mallinckrodt PLC(b)		476		55
Merck & Co., Inc.		863		66,089
Merck KGaA		536		106,314
Novartis AG		923		81,124
Novo Nordisk A/S - Class B		1,284		132,873
Organon & Co.		86		3,210
Orion Oyj - Class B		948		44,517
Perrigo Co. PLC		428		15,203
Pfizer, Inc.		2,016		94,631
Roche Holding AG		268		101,500
Sanofi		604		63,138
Takeda Pharmaceutical Co., Ltd. (Sponsored ADR)		1,184		17,997
UCB SA		558		60,898
Viatris, Inc.		1,277		14,060
Vifor Pharma AG		380		66,701
Zoetis, Inc.		996		192,875
				1,758,621
				7,933,791
Industrials – 3.3%
Aerospace & Defense – 0.5%
Airbus SE(b)		181		23,110
Babcock International Group PLC(b)		1,434		6,316
BAE Systems PLC		2,639		25,337
Boeing Co. (The)(b)		219		44,969
Bombardier, Inc. - Class B(b)		7,317		9,121
CAE, Inc.(b)		2,809		75,150
Dassault Aviation SA		110		16,369
General Dynamics Corp.		241		56,502
Howmet Aerospace, Inc.		824		29,598
Huntington Ingalls Industries, Inc.		180		36,792
L3Harris Technologies, Inc.		1,019		257,104
Leonardo SpA(b)		684		6,098
Lockheed Martin Corp.		198		85,892
Meggitt PLC(b)		2,664		26,832
Northrop Grumman Corp.		198		87,544
Raytheon Technologies Corp.		1,280		131,456
Rolls-Royce Holdings PLC(b)		5,507		7,597
Safran SA		174		22,124
Textron, Inc.		720		52,654
Thales SA		192		21,950
TransDigm Group, Inc.(b)		93		61,993
				1,084,508
Air Freight & Logistics – 0.2%
CH Robinson Worldwide, Inc.		534		51,627
Deutsche Post AG		500		25,131
DSV A/S		295		54,297
Expeditors International of Washington, Inc.		744		76,900
FedEx Corp.		189		42,009

9

Company	Shares		U.S. $ Value
Kuehne & Nagel International AG		139	$	37,907
Royal Mail PLC		3,581		18,820
United Parcel Service, Inc. - Class B		471		99,108
				405,799
Airlines – 0.1%
American Airlines Group, Inc.(b)		507		8,746
Delta Air Lines, Inc.(b)		566		22,595
Deutsche Lufthansa AG(b)		1,312		9,965
easyJet PLC(b)		1,301		10,439
International Consolidated Airlines Group SA(b)		4,711		9,241
Southwest Airlines Co.(b)		528		23,126
United Airlines Holdings, Inc.(b)		315		13,986
				98,098
Building Products – 0.2%
A O Smith Corp.		711		48,760
Assa Abloy AB - Class B		848		22,258
Carrier Global Corp.		587		26,345
Cie de Saint-Gobain		254		15,749
Fortune Brands Home & Security, Inc.		681		59,179
Geberit AG		50		32,709
Johnson Controls International PLC		1,024		66,519
Masco Corp.		1,061		59,458
Otis Worldwide Corp.		293		22,951
Resideo Technologies, Inc.(b)		63		1,622
				355,550
Commercial Services & Supplies – 0.3%
Cintas Corp.		386		144,874
G4S PLC(b) (e) (f)		3,969		13,045
ISS A/S(b)		413		7,539
Republic Services, Inc. - Class A		966		116,190
Securitas AB - Class B		1,405		17,010
Societe BIC SA		160		8,443
Stericycle, Inc.(b)		372		21,710
Waste Connections, Inc.		891		110,030
Waste Management, Inc.		916		132,270
				571,111
Construction & Engineering – 0.1%
ACS Actividades de Construccion y Servicios SA		524		12,740
Boskalis Westminster		549		15,855
Bouygues SA		319		11,407
China Railway Group Ltd. - Class H		179,000		105,101
Eiffage SA		192		19,558
Epiroc AB - Class A		436		8,193
Epiroc AB - Class B		520		8,429
Ferrovial SA		1,062		28,933
Fluor Corp.(b) (c)		716		15,509
HOCHTIEF AG		79		5,328
Metso Outotec Oyj		1,685		14,195
Orascom Construction PLC		173		865
Skanska AB - Class B		763		17,269
SNC-Lavalin Group, Inc.		1,097		24,701
Vinci SA		175		18,349
				306,432

10

Company	Shares		U.S. $ Value
Electrical Equipment – 0.2%
ABB Ltd.(b)		788	$	26,629
Acuity Brands, Inc.		140		25,532
AMETEK, Inc.		672		87,219
Eaton Corp. PLC		547		84,397
Emerson Electric Co.		688		63,929
Legrand SA		296		27,925
nVent Electric PLC		481		16,320
Prysmian SpA		537		17,678
Rockwell Automation, Inc.		235		62,646
Schneider Electric SE		198		30,677
Sensata Technologies Holding PLC(b)		858		49,687
Siemens Energy AG(b)		59		1,403
Vestas Wind Systems A/S		760		24,507
				518,549
Industrial Conglomerates – 0.1%
3M Co.		284		42,217
DCC PLC		173		13,576
General Electric Co.		199		19,006
Honeywell International, Inc.		378		71,726
Melrose Industries PLC		8,829		17,468
Roper Technologies, Inc.		184		82,472
Siemens AG		118		16,624
Smiths Group PLC		1,381		28,173
				291,262
Machinery – 0.6%
AGCO Corp.		496		59,599
Alfa Laval AB		849		27,534
Alstom SA		671		17,070
ANDRITZ AG		354		15,870
Atlas Copco AB - Class A		436		22,360
Atlas Copco AB - Class B		520		23,496
Caterpillar, Inc.		323		60,588
CNH Industrial NV		1,193		16,970
Cummins, Inc.		221		45,110
Daimler Truck Holding AG(b)		174		5,303
Deere & Co.		289		104,046
Dover Corp.		428		67,136
Electrolux Professional AB - Class B(b)		748		4,333
Flowserve Corp.		599		18,192
Fortive Corp.		674		43,641
GEA Group AG		378		16,529
Husqvarna AB - Class B		2,521		30,363
Illinois Tool Works, Inc.		349		75,503
IMI PLC		1,187		23,254
Ingersoll Rand, Inc.		413		20,865
Iveco Group NV(b)		238		1,987
Kone Oyj - Class B		326		19,023
Middleby Corp. (The)(b)		251		44,583
Neles Oyj		392		5,101
PACCAR, Inc.		502		46,089
Parker-Hannifin Corp.		211		62,538

11

Company	Shares		U.S. $ Value
Pentair PLC		481	$	27,855
Sandvik AB		907		19,548
Schindler Holding AG		78		17,897
Schindler Holding AG (REG)		81		18,156
SKF AB - Class B		706		13,036
Snap-on, Inc.		233		48,972
Stanley Black & Decker, Inc.		329		53,528
Trane Technologies PLC		469		72,193
Volvo AB - Class B		910		17,503
Wartsila Oyj Abp		732		8,198
Weir Group PLC (The)		503		10,604
Westinghouse Air Brake Technologies Corp.		457		42,419
Xylem, Inc./NY		796		70,804
Zardoya Otis SA		1,731		13,644
				1,311,440
Marine – 0.0%
AP Moller - Maersk A/S - Class A		10		29,985
AP Moller - Maersk A/S - Class B		9		28,471
				58,456
Professional Services – 0.4%
Adecco Group AG		233		11,004
Bureau Veritas SA		963		27,535
Capita PLC(b)		1,612		604
CoStar Group, Inc.(b)		2,870		175,099
Equifax, Inc.		383		83,624
Experian PLC		1,125		43,947
Intertek Group PLC		254		18,233
Jacobs Engineering Group, Inc.		615		75,645
ManpowerGroup, Inc.		340		36,135
Nielsen Holdings PLC		827		14,406
Randstad NV		258		17,582
RELX PLC		1,139		34,784
RELX PLC (London)		1,122		34,168
Robert Half International, Inc.		701		84,323
SGS SA		10		28,614
Thomson Reuters Corp.		1,197		121,032
Verisk Analytics, Inc. - Class A		637		112,966
Wolters Kluwer NV		490		49,926
				969,627
Road & Rail – 0.3%
AMERCO		94		54,295
Canadian National Railway Co.		661		82,000
Canadian Pacific Railway Ltd.		960		67,469
Canadian Pacific Railway Ltd.		1,400		98,580
CSX Corp.		1,578		53,510
JB Hunt Transport Services, Inc.		438		88,883
Norfolk Southern Corp.		311		79,778
Union Pacific Corp.		324		79,688
				604,203
Trading Companies & Distributors – 0.2%
AerCap Holdings NV(b)		317		17,254
Ashtead Group PLC		560		36,390
Brenntag SE		322		26,994
Bunzl PLC		677		26,753

12

Company	Shares		U.S. $ Value
Fastenal Co.		1,510	$	77,705
Ferguson PLC		296		45,104
Finning International, Inc.		1,846		53,712
Rexel SA(b)		970		21,348
Travis Perkins PLC		697		13,531
United Rentals, Inc.(b)		195		62,716
WW Grainger, Inc.		196		93,504
				475,011
Transportation Infrastructure – 0.1%
Aena SME SA(b)		131		21,380
Aeroports de Paris(b)		132		18,663
Atlantia SpA(b)		613		11,276
Fraport AG Frankfurt Airport Services Worldwide(b)		264		17,879
Getlink SE		1,705		27,808
				97,006
				7,147,052
Consumer Staples – 2.9%
Beverages – 0.5%
Anheuser-Busch InBev SA/NV		336		20,734
Brown-Forman Corp. - Class B		1,553		101,302
Carlsberg AS - Class B		434		63,646
Coca-Cola Co. (The)		2,349		146,202
Coca-Cola Europacific Partners PLC		1,012		52,790
Coca-Cola HBC AG(b)		1,304		33,130
Constellation Brands, Inc. - Class A		321		69,214
Diageo PLC		1,525		75,552
Heineken Holding NV		450		36,751
Heineken NV		502		50,922
Keurig Dr Pepper, Inc.		924		35,731
Molson Coors Beverage Co. - Class B		775		40,440
Monster Beverage Corp.(b)		1,264		106,682
PepsiCo, Inc.		845		138,360
Pernod Ricard SA		347		75,750
Remy Cointreau SA		337		64,857
				1,112,063
Food & Staples Retailing – 0.8%
Alimentation Couche-Tard, Inc.		3,374		132,431
Carrefour SA		1,249		25,110
Casino Guichard Perrachon SA(b)		448		7,976
Costco Wholesale Corp.		505		262,221
Distribuidora Internacional de Alimentacion SA(b)		54,700		854
Empire Co., Ltd. - Class A		3,731		115,565
Etablissements Franz Colruyt NV		915		36,597
George Weston Ltd.		1,283		139,121
J Sainsbury PLC		10,711		39,504
Jeronimo Martins SGPS SA		2,095		45,675
Koninklijke Ahold Delhaize NV		1,925		59,217
Kroger Co. (The)		1,741		81,479
Loblaw Cos. Ltd.		1,937		151,094
METRO AG(b)		963		8,994
Metro, Inc/.CN		3,499		182,638
Rite Aid Corp.(b) (c)		91		834

13

Company	Shares		U.S. $ Value
Sysco Corp.		1,355	$	118,021
Tesco PLC		11,257		43,609
Walgreens Boots Alliance, Inc.		793		36,549
Walmart, Inc.		1,159		156,650
				1,644,139
Food Products – 0.9%
Archer-Daniels-Midland Co.		1,514		118,773
Aryzta AG(b)		6,292		7,187
Associated British Foods PLC		933		23,872
Barry Callebaut AG		33		76,120
Bunge Ltd.		891		93,154
Campbell Soup Co.		1,279		57,517
Chocoladefabriken Lindt & Spruengli AG		9		95,469
Chocoladefabriken Lindt & Spruengli AG (REG)		1		112,245
Conagra Brands, Inc.		1,969		68,856
Danone SA		580		35,287
General Mills, Inc.		1,305		87,996
Hershey Co. (The)		758		153,313
Hormel Foods Corp.		1,930		91,945
Ingredion, Inc.		628		55,729
J M Smucker Co. (The)		614		82,736
Kellogg Co.		1,053		67,329
Kerry Group PLC - Class A		503		59,927
Kraft Heinz Co. (The)		886		34,749
McCormick & Co., Inc./MD		1,800		171,306
Mondelez International, Inc. - Class A		1,174		76,873
Mowi ASA		1,945		50,081
Nestle SA		608		79,220
Orkla ASA		3,826		35,840
Saputo, Inc.		2,289		56,092
Tate & Lyle PLC		4,685		47,030
Tyson Foods, Inc. - Class A		1,060		98,220
				1,936,866
Household Products – 0.4%
Church & Dwight Co., Inc.		1,639		160,376
Clorox Co. (The)		669		97,533
Colgate-Palmolive Co.		1,207		92,879
Edgewell Personal Care Co.(c)		667		23,798
Essity AB - Class B		1,288		33,148
Henkel AG & Co. KGaA		338		25,988
Henkel AG & Co. KGaA (Preference Shares)		356		28,255
Kimberly-Clark Corp.		706		91,886
Procter & Gamble Co. (The)		1,192		185,821
Reckitt Benckiser Group PLC		499		42,254
Spectrum Brands Holdings, Inc.		587		54,462
				836,400
Personal Products – 0.2%
Beiersdorf AG		471		47,744
Coty, Inc. - Class A(b)		2,104		19,294
Estee Lauder Cos., Inc. (The) - Class A		855		253,362
L’Oreal SA		228		90,134
Unilever PLC		811		40,738
Unilever PLC (Netherlands)		860		43,150
				494,422

14

Company	Shares		U.S. $ Value
Tobacco – 0.1%
Altria Group, Inc.		1,060	$	54,367
British American Tobacco PLC		579		25,376
British American Tobacco PLC (Sponsored ADR)		643		28,446
Imperial Brands PLC		987		21,582
Philip Morris International, Inc.		715		72,265
Swedish Match AB		13,450		97,778
				299,814
				6,323,704
Materials – 2.7%
Chemicals – 1.4%
Air Liquide SA		447		74,249
Air Products and Chemicals, Inc.		522		123,349
Akzo Nobel NV		408		38,818
Albemarle Corp.		546		106,956
Arkema SA		294		38,989
Axalta Coating Systems Ltd.(b)		2,149		58,109
BASF SE		444		29,564
Celanese Corp. - Class A		722		100,560
CF Industries Holdings, Inc.		1,192		96,778
Chr Hansen Holding A/S		469		34,192
Corteva, Inc.		701		36,473
Covestro AG		458		24,222
Croda International PLC		632		63,263
Dow, Inc.		701		41,331
DuPont de Nemours, Inc.		701		54,236
Eastman Chemical Co.		794		94,065
Ecolab, Inc.		833		146,825
EMS-Chemie Holding AG		47		46,489
Evonik Industries AG		1,232		37,085
FMC Corp.		742		86,999
FUCHS PETROLUB SE		915		36,152
Givaudan SA		25		104,385
International Flavors & Fragrances, Inc.		533		70,889
Johnson Matthey PLC		1,127		28,321
K&S AG(b)		1,009		25,883
Koninklijke DSM NV		642		120,545
LANXESS AG		442		21,531
Linde PLC(b)		436		127,853
Livent Corp.(b) (c)		693		16,320
LyondellBasell Industries NV - Class A		645		62,713
Methanex Corp.		1,103		57,426
Mosaic Co. (The)		2,007		105,227
Novozymes A/S - Class B		559		36,689
Nutrien Ltd.		3,184		273,837
PPG Industries, Inc.		660		88,077
Sherwin-Williams Co. (The)		693		182,349
Sika AG		360		119,460
Solvay SA		330		36,802
Symrise AG		710		84,452
Umicore SA		1,130		46,228
Yara International ASA		866		44,105
				3,021,796
Construction Materials – 0.1%
CRH PLC		1,075		48,867
HeidelbergCement AG		356		23,100

15

Company	Shares		U.S. $ Value
Holcim Ltd.(b)		595	$	29,951
Imerys SA		563		24,016
Martin Marietta Materials, Inc.		237		89,918
Vulcan Materials Co.		393		71,310
				287,162
Containers & Packaging – 0.4%
Avery Dennison Corp.		978		172,324
Ball Corp.		1,802		161,711
CCL Industries, Inc. - Class B		1,790		80,695
Crown Holdings, Inc.		1,332		163,396
International Paper Co.		1,270		55,283
Packaging Corp. of America		678		99,795
Sealed Air Corp.		1,509		101,299
Westrock Co.		1,050		47,534
				882,037
Metals & Mining – 0.7%
Agnico Eagle Mines Ltd.		888		44,859
Anglo American PLC		1,415		71,828
Antofagasta PLC		2,036		41,225
ArcelorMittal SA		987		30,625
Arconic Corp.(b)		206		6,324
Barrick Gold Corp. (London)		1,911		43,240
Barrick Gold Corp. (Toronto)		2,364		53,435
BHP Group Ltd.		1,449		48,985
Boliden AB		977		43,457
Eldorado Gold Corp.(b)		1,427		15,672
First Quantum Minerals Ltd.		3,202		93,900
Franco-Nevada Corp.		739		108,830
Freeport-McMoRan, Inc.		2,604		122,258
Fresnillo PLC		1,276		12,172
Glencore PLC(b)		5,705		33,545
Kinross Gold Corp.		6,730		33,557
Newmont Corp.		1,386		91,753
Newmont Corp. (Toronto)		1,053		69,793
Norsk Hydro ASA		4,362		41,422
Nucor Corp.		910		119,774
Rio Tinto PLC		669		52,311
Teck Resources Ltd. - Class B		2,652		95,493
thyssenkrupp AG(b)		1,007		10,676
Turquoise Hill Resources Ltd.(b)		641		13,184
voestalpine AG		636		21,020
Wheaton Precious Metals Corp.		1,870		81,941
Yamana Gold, Inc.		7,199		35,384
				1,436,663
Paper & Forest Products – 0.1%
Mondi PLC		1,889		39,634
Stora Enso Oyj - Class R		2,477		47,172
Svenska Cellulosa AB SCA - Class B		1,288		21,014
Sylvamo Corp.(b)		115		4,014
UPM-Kymmene Oyj		1,348		46,578
West Fraser Timber Co., Ltd.		1,065		106,307
				264,719
				5,892,377

16

Company	Shares		U.S. $ Value
Consumer Discretionary – 2.5%
Auto Components – 0.1%
Aptiv PLC(b)		302	$	39,091
Autoliv, Inc.		287		25,259
BorgWarner, Inc.		676		27,723
Cie Generale des Etablissements Michelin SCA - Class B		199		27,394
Continental AG(b)		107		9,118
Faurecia SE(e)		29		1,092
Faurecia SE (Italy)		21		806
Goodyear Tire & Rubber Co. (The)(b)		816		12,640
Lear Corp.		199		31,311
Linamar Corp.		630		32,899
Magna International, Inc. - Class A (Canada)		729		54,162
Nokian Renkaat Oyj		578		10,894
Schaeffler AG (Preference Shares)		1,288		8,569
Valeo		282		6,219
Veoneer, Inc.(b)		287		10,174
Vitesco Technologies Group AG(b)		21		882
				298,233
Automobiles – 0.3%
Bayerische Motoren Werke AG		252		24,269
Bayerische Motoren Werke AG (Preference Shares)		288		23,290
Ferrari NV		303		65,111
Ford Motor Co.		2,754		48,360
General Motors Co.(b)		869		40,600
Harley-Davidson, Inc.(c)		457		18,874
Mercedes-Benz Group AG		349		27,264
Porsche Automobil Holding SE (Preference Shares)		377		37,628
Renault SA(b)		203		6,362
Stellantis NV		1,735		31,644
Stellantis NV		1,290		23,442
Tesla, Inc.(b)		270		235,016
Volkswagen AG		151		39,054
Volkswagen AG (Preference Shares)		138		27,128
				648,042
Distributors – 0.0%
Genuine Parts Co.		435		53,140
LKQ Corp.		877		41,175
				94,315
Diversified Consumer Services – 0.0%
H&R Block, Inc.(c)		830		20,592
Hotels, Restaurants & Leisure – 0.5%
Accor SA(b)		515		17,589
Aramark		1,174		43,391

17

Company	Shares		U.S. $ Value
Booking Holdings, Inc.(b)		17	$	36,928
Carnival Corp.(b)		557		11,324
Carnival PLC(b)		409		7,676
Chipotle Mexican Grill, Inc. - Class A(b)		57		86,831
Compass Group PLC		1,758		39,736
Darden Restaurants, Inc.		368		53,441
Domino’s Pizza, Inc.		151		65,264
Expedia Group, Inc.(b)		215		42,164
Flutter Entertainment PLC(b)		226		32,546
Hilton Worldwide Holdings, Inc.(b)		532		79,194
InterContinental Hotels Group PLC(b)		470		32,727
Las Vegas Sands Corp.(b)		477		20,444
Marriott International, Inc./MD - Class A(b)	��	350		59,549
McDonald’s Corp.		324		79,306
MGM Resorts International		769		34,059
Norwegian Cruise Line Holdings Ltd.(b)		485		9,453
Restaurant Brands International, Inc.		668		37,392
Royal Caribbean Cruises Ltd.(b)		277		22,359
Sodexo SA		224		18,701
Starbucks Corp.		666		61,132
Travel & Leisure Co.		277		15,526
TUI AG-DI(b)		4,509		14,428
Whitbread PLC(b)		756		29,511
Wyndham Hotels & Resorts, Inc.		277		23,936
Wynn Resorts Ltd.(b)		179		15,487
Yum! Brands, Inc.		630		77,225
				1,067,319
Household Durables – 0.2%
Barratt Developments PLC		2,559		20,844
Berkeley Group Holdings PLC		507		26,367
DR Horton, Inc.		836		71,394
Electrolux AB		748		13,393
Garmin Ltd.		605		66,816
Leggett & Platt, Inc.		679		25,177
Lennar Corp. - Class A		555		49,883
Lennar Corp. - Class B		11		831
Mohawk Industries, Inc.(b)		156		21,962
Newell Brands, Inc.		610		14,488
Persimmon PLC		763		24,556
PulteGroup, Inc.		1,261		62,621
SEB SA		178		25,888
Taylor Wimpey PLC		9,372		18,798
Toll Brothers, Inc.		690		37,439
Whirlpool Corp.		167		33,612
				514,069
Internet & Direct Marketing Retail – 0.2%
Amazon.com, Inc.(b)		29		89,067
eBay, Inc.		1,712		93,458
MercadoLibre, Inc.(b)		134		150,971
Qurate Retail, Inc.		1,207		6,651
Zalando SE(b)		758		50,169
				390,316

18

Company	Shares		U.S. $ Value
Leisure Products – 0.0%
Hasbro, Inc.		367	$	35,617
Mattel, Inc.(b)		1,058		26,429
Nordic Entertainment Group AB - Class B(b)		65		2,207
Polaris, Inc.(c)		248		30,135
				94,388
Multiline Retail – 0.2%
Canadian Tire Corp. Ltd. - Class A		300		44,230
Cie Financiere Richemont SA		285		38,163
Dollar General Corp.		382		75,766
Dollar Tree, Inc.(b)		304		43,192
Dollarama, Inc.		1,356		70,073
Kohl’s Corp.		485		26,976
Macy’s, Inc.		699		18,118
Marks & Spencer Group PLC(b)		4,897		11,414
Next PLC		400		36,625
Nordstrom, Inc.(b) (c)		496		10,287
Target Corp.		562		112,271
				487,115
Specialty Retail – 0.5%
Advance Auto Parts, Inc.		173		35,375
AutoNation, Inc.(b)		587		67,305
AutoZone, Inc.(b)		47		87,579
Bath & Body Works, Inc.(g)		409		21,828
Bed Bath & Beyond, Inc.(b) (c)		660		11,147
Best Buy Co., Inc.		397		38,366
CarMax, Inc.(b) (c)		276		30,175
CECONOMY AG		963		3,823
Currys PLC		4,868		6,111
Dick’s Sporting Goods, Inc.(c)		553		58,065
Dufry AG(b)		127		5,932
Foot Locker, Inc.(c)		407		12,869
Gap, Inc. (The)		852		12,397
H & M Hennes & Mauritz AB - Class B		936		15,621
Home Depot, Inc. (The)		245		77,378
Industria de Diseno Textil SA		757		19,747
Kingfisher PLC		6,282		25,627
Lowe’s Cos., Inc.		362		80,024
O’Reilly Automotive, Inc.(b)		119		77,260
Ross Stores, Inc.		451		41,217
Signet Jewelers Ltd.(c)		287		20,233
TJX Cos., Inc. (The)		1,056		69,802
Tractor Supply Co.		570		116,160
Ulta Beauty, Inc.(b)		91		34,079
Victoria’s Secret & Co.(b)		136		7,294
Wickes Group PLC		782		1,906
				977,320
Textiles, Apparel & Luxury Goods – 0.5%
adidas AG		138		32,629
Burberry Group PLC		981		25,434
Capri Holdings Ltd.(b)		474		32,109

19

Company	Shares		U.S. $ Value
Christian Dior SE		102	$	72,233
EssilorLuxottica SA		493		86,063
Gildan Activewear, Inc.		1,287		50,526
Hanesbrands, Inc.		1,331		20,564
Hermes International		67		92,395
HUGO BOSS AG		261		15,927
Kering SA		75		52,023
Kontoor Brands, Inc.		82		4,062
Lululemon Athletica, Inc.(b)		362		115,818
LVMH Moet Hennessy Louis Vuitton SE		90		66,141
NIKE, Inc. - Class B		676		92,308
Pandora A/S		240		24,575
Puma SE		60		5,502
PVH Corp.		229		22,417
Ralph Lauren Corp.		379		50,043
Swatch Group AG (The)		56		17,221
Swatch Group AG (The) (REG)		301		17,832
Tapestry, Inc.		597		24,417
Under Armour, Inc. - Class A(b)		1,122		20,073
Under Armour, Inc. - Class C(b)		1,242		19,412
VF Corp.		576		33,420
				993,144
				5,584,853
Utilities – 2.2%
Electric Utilities – 1.2%
Alliant Energy Corp.		1,649		96,301
American Electric Power Co., Inc.		1,054		95,545
Constellation Energy Corp.		497		22,852
Duke Energy Corp.		865		86,855
Edison International		797		50,546
EDP - Energias de Portugal SA		19,584		95,618
Electricite de France SA		3,570		32,275
Emera, Inc.		2,500		116,962
Endesa SA		3,408		74,913
Enel SpA		10,639		78,398
Entergy Corp.		880		92,585
Evergy, Inc.		973		60,725
Eversource Energy		1,141		93,334
Exelon Corp.		1,491		63,457
FirstEnergy Corp.		1,915		80,143
Fortis, Inc./Canada		2,662		121,979
Fortum Oyj		4,004		83,795
Hydro One Ltd.(d)		3,582		88,455
Iberdrola SA		8,676		98,434
NextEra Energy, Inc.		2,156		168,750
OGE Energy Corp.		1,973		74,086
Orsted AS		1,497		193,733
Pinnacle West Capital Corp.		753		53,335
PPL Corp.		1,790		46,844
Red Electrica Corp. SA		3,748		74,249
Southern Co. (The)		1,397		90,484
SSE PLC		3,489		79,182
Terna - Rete Elettrica Nazionale		13,636		111,717
Xcel Energy, Inc.		1,190		80,123
				2,505,675

20

Company	Shares		U.S. $ Value
Gas Utilities – 0.2%
AltaGas Ltd.		3,076	$	67,757
Atmos Energy Corp.		860		94,437
Enagas SA		3,496		73,883
Macquarie Infrastructure Holdings LLC		570		2,080
Naturgy Energy Group SA		2,625		70,428
Snam SpA		22,765		126,488
UGI Corp.		1,317		50,625
				485,698
Independent Power and Renewable Electricity Producers – 0.0%
AES Corp. (The)		4,046		85,897
Multi-Utilities – 0.7%
Ameren Corp.		1,162		99,874
Atco Ltd./Canada - Class I		1,665		54,686
Canadian Utilities Ltd. - Class A		2,932		81,657
CenterPoint Energy, Inc.		2,121		58,009
Centrica PLC(b)		23,244		23,941
CMS Energy Corp.		1,535		98,255
Consolidated Edison, Inc.		866		74,277
Dominion Energy, Inc.		1,315		104,582
DTE Energy Co.		687		83,532
E.ON SE		6,694		91,049
Engie SA		3,398		54,139
National Grid PLC		4,604		69,610
NiSource, Inc.		2,608		75,449
Public Service Enterprise Group, Inc.		1,187		76,953
RWE AG		2,734		126,592
Sempra Energy		547		78,888
United Utilities Group PLC		6,181		88,714
Veolia Environnement SA		3,120		108,784
WEC Energy Group, Inc.		1,055		95,878
				1,544,869
Water Utilities – 0.1%
American Water Works Co., Inc.		869		131,297
Severn Trent PLC		2,353		90,527
				221,824
				4,843,963
Energy – 1.6%
Energy Equipment & Services – 0.1%
Baker Hughes Co. - Class A		758		22,270
ChampionX Corp.(b)		214		4,582
Core Laboratories NV(c)		280		7,717
Drilling Co. of 1972 A/S (The)(b)		38		1,493
Halliburton Co.		747		25,047
Helmerich & Payne, Inc.		490		17,753
NOV, Inc.		851		14,595
Petrofac Ltd.(b)		6,919		9,933
Saipem SpA(b)		858		1,011
Schlumberger NV		606		23,779
Tenaris SA		3,797		48,933
Weatherford International PLC(b)		1		28
				177,141

21

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels – 1.6%
Antero Resources Corp.(b)		1,271	$	29,144
APA Corp.		607		21,627
ARC Resources Ltd.		4,153		51,343
BP PLC		13,599		66,283
Cameco Corp.		2,728		67,086
Canadian Natural Resources Ltd.		1,035		57,821
Cenovus Energy, Inc.		5,037		79,201
Cheniere Energy, Inc.		609		80,936
Chevron Corp.		571		82,224
China Petroleum & Chemical Corp. - Class H		230,000		114,422
China Shenhua Energy Co., Ltd. - Class H		99,000		272,842
ConocoPhillips		1,067		101,216
Continental Resources, Inc./OK(c)		603		33,424
Coterra Energy, Inc.		2,088		48,713
Crescent Point Energy Corp.		2,365		16,924
Devon Energy Corp.		669		39,839
Diamondback Energy, Inc.		286		39,497
DTE Midstream LLC(b)		343		18,213
Enbridge, Inc.		1,314		56,769
Eni SpA		4,936		76,778
EOG Resources, Inc.		364		41,831
EQT Corp.		539		12,472
Equinor ASA		4,590		144,289
Equitrans Midstream Corp.		431		2,763
Exxon Mobil Corp.		713		55,913
Galp Energia SGPS SA		4,711		52,148
Hess Corp.		565		57,099
HollyFrontier Corp.		1,019		31,029
Imperial Oil Ltd.		1,534		68,852
Keyera Corp.		1,731		40,547
Kinder Morgan, Inc.		1,880		32,712
Koninklijke Vopak NV		1,705		63,183
Lundin Energy AB		2,787		102,838
Marathon Oil Corp.		1,390		31,358
Marathon Petroleum Corp.		1,407		109,563
Murphy Oil Corp.(c)		914		31,688
Neste Oyj		4,680		182,495
Occidental Petroleum Corp.		864		37,783
OMV AG		1,553		73,928
ONEOK, Inc.		703		45,906
Ovintiv, Inc.		398		18,248
Ovintiv, Inc. (Canada)		403		18,432
Pembina Pipeline Corp.		2,130		72,428
Peyto Exploration & Development Corp.		1,639		14,146
Phillips 66		607		51,134
Pioneer Natural Resources Co.		271		64,932
PrairieSky Royalty Ltd.		1,883		25,463
Range Resources Corp.(b) (c)		940		21,573
Shell PLC		6,226		164,185
Southwestern Energy Co.(b) (c)		2,381		11,881
Suncor Energy, Inc.		1,483		45,350
Targa Resources Corp.		621		40,595
TC Energy Corp.		1,444		77,583
Thungela Resources Ltd.(b)		141		1,274
TotalEnergies SE		1,632		83,143
Tourmaline Oil Corp.		1,532		60,434
Valero Energy Corp.		618		51,609

22

Company	Shares		U.S. $ Value
Vermilion Energy, Inc.(b)		920	$	17,202
Williams Cos., Inc. (The)		1,051		32,875
				3,445,186
				3,622,327
Communication Services – 1.5%
Diversified Telecommunication Services – 0.6%
Altice USA, Inc. - Class A(b)		713		8,242
AT&T, Inc.		2,772		65,669
BCE, Inc.		3,032		159,243
BT Group PLC		7,665		19,125
Charter Communications, Inc. - Class A(b)		83		49,948
Comcast Corp. - Class A		824		38,530
Deutsche Telekom AG		2,256		40,438
Elisa Oyj		1,116		61,834
Eurazeo SE		635		49,048
Eutelsat Communications SA		1,132		12,398
Koninklijke KPN NV		12,242		41,894
Liberty Global PLC(b)		1,811		46,851
Liberty Global PLC - Class A(b)		813		20,959
Liberty Latin America Ltd. - Class C(b)		1,189		11,997
Lumen Technologies, Inc.(c)		3,838		39,762
Orange SA		2,176		26,311
Proximus SADP		1,770		35,188
Shaw Communications, Inc. - Class B		2,404		72,092
Sirius XM Holdings, Inc.(c)		4,633		28,539
Swisscom AG		114		68,287
Telecom Italia SpA/Milano		31,583		13,269
Telecom Italia SpA/Milano (Savings Shares)		39,625		16,455
Telefonica Deutschland Holding AG		7,772		21,209
Telefonica SA		3,869		18,478
Telenet Group Holding NV		522		18,170
Telenor ASA		2,325		34,400
Telia Co. AB		12,753		47,418
TELUS Corp.		6,684		168,801
United Internet AG		623		21,187
Verizon Communications, Inc.		1,696		91,024
				1,346,766
Entertainment – 0.2%
Activision Blizzard, Inc.		841		68,542
Bollore SA		3,319		16,794
Electronic Arts, Inc.		495		64,395
Modern Times Group MTG AB - Class B(b)		90		1,158
Netflix, Inc.(b)		129		50,893
Universal Music Group NV		1,098		25,070
Walt Disney Co. (The)(b)		1,074		159,446
				386,298
Interactive Media & Services – 0.3%
Adevinta ASA - Class B(b)		2,027		21,715
Alphabet, Inc. - Class A(b)		78		210,689
Alphabet, Inc. - Class C(b)		76		205,034
Auto Trader Group PLC		4,579		40,497
Cars.com, Inc.(b)		283		4,579

23

Company	Shares		U.S. $ Value
Meta Platforms, Inc. - Class A(b)		387	$	81,669
TripAdvisor, Inc.(b)		426		10,837
Twitter, Inc.(b)		1,866		66,336
				641,356
Media – 0.3%
Discovery, Inc. - Class A(b) (c)		1,012		28,387
Discovery, Inc. - Class C(b)		1,427		39,913
DISH Network Corp. - Class A(b)		297		9,492
Fox Corp. - Class A		338		14,139
Fox Corp. - Class B		340		13,008
Interpublic Group of Cos., Inc. (The)		1,393		51,262
ITV PLC(b)		7,799		11,491
JCDecaux SA(b)		889		25,129
Lagardere SA(b)		819		23,210
Liberty Broadband Corp.(b)		346		50,758
Liberty Media Corp-Liberty SiriusXM - Class A(b)		944		47,540
Liberty Media Corp-Liberty SiriusXM - Class C(b)		855		43,024
Loyalty Ventures, Inc.(b)		86		2,064
News Corp. - Class A		2,510		56,023
Omnicom Group, Inc.		460		38,589
Paramount Global - Class B(c)		829		25,376
Pearson PLC		1,740		15,053
ProSiebenSat.1 Media SE		638		8,722
Publicis Groupe SA		351		23,294
RTL GROUP(b)		289		16,104
RTL Group SA		30		1,680
Schibsted ASA		973		27,962
Schibsted ASA - Class B		1,054		27,283
SES SA		1,380		10,912
TEGNA, Inc.		850		19,482
Vivendi SE		1,098		13,861
WPP PLC		1,472		20,703
				664,461
Wireless Telecommunication Services – 0.1%
Millicom International Cellular SA(b)		591		13,710
Rogers Communications, Inc. - Class B		2,193		113,309
T-Mobile US, Inc.(b)		970		119,514
Tele2 AB - Class B		4,849		64,255
Vodafone Group PLC		17,886		31,485
				342,273
				3,381,154
Real Estate – 1.3%
Equity Real Estate Investment Trusts (REITs) – 1.1%
Alexandria Real Estate Equities, Inc.		370		70,078
American Tower Corp.		354		80,312
AvalonBay Communities, Inc.		234		55,830
Boston Properties, Inc.		360		44,032
British Land Co. PLC (The)		5,156		36,436
Brixmor Property Group, Inc.		1,101		27,657
Camden Property Trust		472		77,932
Covivio		424		34,688

24

Company	Shares		U.S. $ Value
Crown Castle International Corp.		494	$	82,295
Digital Realty Trust, Inc.		378		51,000
DigitalBridge Group, Inc.(b)		3,138		22,751
Duke Realty Corp.		1,323		70,119
Equinix, Inc.		91		64,585
Equity Residential		641		54,677
Essex Property Trust, Inc.		185		58,676
Extra Space Storage, Inc.		489		92,005
Federal Realty Investment Trust		282		33,158
Gecina SA		296		37,616
H&R Real Estate Investment Trust		3,643		37,163
Hammerson PLC		28,225		13,983
Healthpeak Properties, Inc.		1,144		35,533
Host Hotels & Resorts, Inc.(b)		1,706		31,169
ICADE		547		33,777
Intu Properties PLC(b) (f)		9,375		0
Iron Mountain, Inc.(c)		1,144		56,262
JBG SMITH Properties		232		6,190
Kimco Realty Corp.		1,471		34,613
Klepierre SA(b)		1,062		30,357
Land Securities Group PLC		3,092		32,765
Macerich Co. (The)		518		7,925
Mid-America Apartment Communities, Inc.		487		99,645
National Retail Properties, Inc.		864		36,815
Orion Office REIT, Inc.(b)		116		1,975
Primaris REIT		910		10,267
Prologis, Inc.		1,398		203,898
Public Storage		203		72,069
Realty Income Corp.		1,162		76,797
Regency Centers Corp.		664		43,751
RioCan Real Estate Investment Trust		3,105		61,537
SBA Communications Corp.		280		84,949
Segro PLC		5,086		88,451
Simon Property Group, Inc.		199		27,374
SL Green Realty Corp.(c)		357		28,389
SmartCentres Real Estate Investment Trust		1,619		40,631
UDR, Inc.		1,200		65,844
Ventas, Inc.		613		33,102
Vornado Realty Trust		465		20,125
Welltower, Inc.		621		51,723
Weyerhaeuser Co.		1,110		43,157
				2,404,083
Real Estate Management & Development – 0.2%
CBRE Group, Inc. - Class A(b)		938		90,845
Deutsche Wohnen SE		1,099		45,423
First Capital Real Estate Investment Trust		2,575		36,873
Jones Lang LaSalle, Inc.(b)		249		61,309
Swiss Prime Site AG		732		71,731
Unibail-Rodamco-Westfield(b)		156		11,891
Vonovia SE		1,666		88,436

25

Company		Shares		U.S. $ Value
Zillow Group, Inc. - Class C(b) (c)			848	$	48,777
					455,285
					2,859,368
Total Common Stocks (cost $40,878,276)					70,394,806
INVESTMENT COMPANIES – 8.4%
Funds and Investment Trusts – 8.4%(h)
Altaba, Inc.(e) (f)			1,120		0
iShares Russell 1000 Value ETF - Class E			41,760		6,764,285
iShares Russell 2000 Value ETF(c)			20,070		3,185,912
VanEck Vectors JPMorgan EM Local Currency Bond ETF - Class E(c)			98,020		2,664,183
Vanguard Global ex-U.S. Real Estate ETF(c)			19,860		1,027,358
Vanguard Real Estate ETF(c)			46,320		4,749,653
Total Investment Companies (cost $17,224,254)					18,391,391
	Principal Amount (000)
GOVERNMENTS - SOVEREIGN BONDS – 0.6%
Mexico – 0.6%
Mexico Government International Bond 4.125%, 01/21/2026 (cost $1,172,331)	U.S.$		1,174		1,242,679
	Shares
WARRANTS – 0.0%
Energy – 0.0%
Energy Equipment & Services – 0.0%
Weatherford International PLC, expiring 11/26/2023(b)			20		10
Oil, Gas & Consumable Fuels – 0.0%
Cenovus Energy, Inc., expiring 01/01/2026(b)			200		2,115
Occidental Petroleum Corp., expiring 08/03/2027(b)			108		2,458
					4,573
					4,583
Counsumer Discretionary – 0.0%
Textiles, Apparel & Luxury Goods – 0.0%
Cie Financiere Richemont SA, expiring 11/27/2023(b)			570		503
Total Warrants (cost $1,355)					5,086

26

Company	Shares		U.S. $ Value
PREFERRED STOCKS – 0.0%
Consumer Discretionary – 0.0%
Internet & Direct Marketing Retail – 0.0%
Qurate Retail, Inc. 8.00%		36	$	3,357
Real Estate – 0.0%
Real Estate Management & Development – 0.0%
Brookfield Property Preferred LP 6.25% (c)		29		691
Total Preferred Stocks (cost $10,293)				4,048
SHORT-TERM INVESTMENTS – 5.0%
Investment Companies – 5.0%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(h) (i) (j) (cost $10,969,780)		10,969,780		10,969,780
Total Investments Before Security Lending Collateral for Securities Loaned – 94.7% (cost $173,381,010)				207,473,827
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.0%
Investment Companies – 1.0%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(h) (i) (j) (cost $2,230,126)		2,230,126		2,230,126
Total Investments – 95.7% (cost $175,611,136)(k)				209,703,953
Other assets less liabilities – 4.3%				9,392,585
Net Assets – 100.0%			$	219,096,538

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Brent Crude Futures		3		March 2022		$	293,910		$	(5,663	)
Brent Crude Futures		36		July 2022			3,230,640			140,147
Canadian 10 Yr Bond Futures		62		June 2022			6,685,239			40,953
Cattle Feeder Futures		7		March 2022			552,038			(21,289	)
Coffee Robusta Futures		32		May 2022			668,800			(52,497	)
Coffee ‘C’ Futures		11		July 2022			955,144			(21,326	)
Copper Futures		24		May 2022			2,672,700			(30,662	)
Corn Futures		89		July 2022			3,012,650			254,224
Cotton No.2 Futures		12		July 2022			694,920			(11,165	)
Cotton No.2 Futures		3		December 2022			150,540			(4,104	)
Euro STOXX 50 Index Futures		119		March 2022			5,239,746			(263,908	)
Euro-Bund Futures		26		March 2022			4,869,632			(218,089	)
Gasoline RBOB Futures		10		June 2022			1,175,874			50,294

27

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Gold 100 OZ Futures		38		April 2022		$	7,222,660		$	133,972
Hang Seng Index Futures		8		March 2022			1,159,727			(81,843	)
Japan 10 Yr Bond (OSE) Futures		3		March 2022			3,927,282			(42,508	)
KC HRW Wheat Futures		13		July 2022			611,488			93,883
Lean Hogs Futures		26		July 2022			1,174,940			57,094
Live Cattle Futures		18		August 2022			987,480			2,832
LME Nickel Futures		11		March 2022			1,623,666			201,085
LME Primary Aluminum Futures		28		March 2022			2,361,800			371,259
LME Zinc Futures		16		March 2022			1,472,300			28,648
Long Gilt Futures		37		June 2022			6,109,139			44,201
Low SU Gasoil Futures		12		July 2022			954,600			48,186
MSCI Emerging Markets Futures		139		March 2022			8,169,725			(397,049	)
MSCI Singapore IX ETS Futures		29		March 2022			708,903			(35,707	)
Natural Gas Futures		80		April 2022			3,536,000			34,481
Nikkei 225 (CME) Futures		9		March 2022			1,199,250			(10,651	)
NY Harbor ULSD Futures		11		June 2022			1,260,937			57,656
OMXS30 Index Futures		41		March 2022			923,372			15,957
Platinum Futures		12		April 2022			623,220			40,875
Silver Futures		14		May 2022			1,705,620			33,144
Soybean Futures		37		July 2022			2,990,525			299,705
Soybean Meal Futures		37		July 2022			1,637,250			107,305
Soybean Oil Futures		43		July 2022			1,826,382			169,386
SPI 200 Futures		33		March 2022			4,208,162			(94,502	)
Sugar 11 (World) Futures		56		September 2022			1,103,872			(17,212	)
TOPIX Index Futures		46		March 2022			7,566,303			(367,251	)
U.S. T-Note 5 Yr (CBT) Futures		129		June 2022			15,258,280			86,530
U.S. T-Note 10 Yr (CBT) Futures		79		June 2022			10,067,562			82,735
Wheat (CBT) Futures		39		July 2022			1,788,150			258,514
WTI Crude Futures		47		June 2022			4,169,840			186,773
Sold Contracts
Bloomberg Commodity Index Futures		762		March 2022			8,728,710			(163,845	)
E-Mini Russell 2000 Futures		7		March 2022			715,575			30,790
FTSE 100 Index Futures		19		March 2022			1,894,943			(65,547	)
Japan 10 Yr Bond (OSE) Futures		9		March 2022			11,781,847			128,727
NASDAQ 100 E-MINI Futures		8		March 2022			2,276,480			346,772
S&P 400 E-Mini Futures		1		March 2022			265,800			(11,375	)
S&P 500 E-Mini Futures		42		March 2022			9,172,800			318,831
S&P TSX 60 Index Futures		17		March 2022			3,421,191			(27,726	)
TOPIX Index Futures		3		March 2022			493,454			23,916
U.S. T-Note 10 Yr (CBT) Futures		78		June 2022			9,940,125			(81,764	)
									$	1,663,192

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		DKK	3,946		USD	602		03/24/2022		$	6,445
Bank of America, NA		CLP	2,901,128		USD	3,495		03/25/2022			(125,885	)
Bank of America, NA		USD	2,113		CLP	1,739,113		03/25/2022			57,404
Bank of America, NA		INR	26,598		USD	353		04/07/2022			2,153
Bank of America, NA		INR	73,897		USD	971		04/07/2022			(5,020	)
Bank of America, NA		PHP	134,857		USD	2,602		04/28/2022			(20,013	)
Bank of America, NA		TWD	18,539		USD	676		04/28/2022			12,632
Bank of America, NA		USD	663		TWD	18,539		04/28/2022			149
Bank of America, NA		USD	1,313		TWD	36,414		04/28/2022			(10,461	)
Barclays Bank PLC		USD	3,947		RUB	294,952		03/02/2022			(1,215,537	)

28

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC		BRL	28,170		USD	5,564		03/03/2022		$	95,798
Barclays Bank PLC		BRL	686		USD	129		03/03/2022			(3,970	)
Barclays Bank PLC		USD	5,615		BRL	28,856		03/03/2022			(13,406	)
Barclays Bank PLC		USD	1,463		NOK	13,101		03/16/2022			22,453
Barclays Bank PLC		MXN	11,513		USD	552		03/24/2022			(7,855	)
Barclays Bank PLC		SEK	15,746		USD	1,685		03/24/2022			21,470
Barclays Bank PLC		USD	1,796		SEK	16,929		03/24/2022			(8,129	)
Barclays Bank PLC		COP	1,377,583		USD	345		03/25/2022			(3,749	)
Barclays Bank PLC		PEN	5,487		USD	1,424		03/25/2022			(21,916	)
Barclays Bank PLC		USD	2,541		CLP	2,079,887		03/25/2022			54,452
Barclays Bank PLC		USD	186		CLP	147,854		03/25/2022			(1,025	)
Barclays Bank PLC		USD	790		PEN	3,054		03/25/2022			15,253
Barclays Bank PLC		USD	472		PEN	1,776		03/25/2022			(4,188	)
Barclays Bank PLC		USD	6,185		BRL	31,610		04/04/2022			(101,986	)
Barclays Bank PLC		INR	32,992		USD	442		04/07/2022			6,370
Barclays Bank PLC		INR	24,632		USD	323		04/07/2022			(1,885	)
Barclays Bank PLC		USD	796		INR	60,364		04/07/2022			1,350
Barclays Bank PLC		USD	793		INR	59,590		04/07/2022			(5,698	)
Barclays Bank PLC		USD	702		ZAR	10,889		04/21/2022			1,921
Barclays Bank PLC		CAD	677		USD	531		04/22/2022			(3,272	)
Barclays Bank PLC		AUD	4,936		USD	3,496		04/28/2022			(92,448	)
Barclays Bank PLC		IDR	21,824,637		USD	1,517		04/28/2022			3,974
Barclays Bank PLC		IDR	13,273,439		USD	916		04/28/2022			(4,235	)
Barclays Bank PLC		KRW	4,462,785		USD	3,733		04/28/2022			24,084
Barclays Bank PLC		KRW	2,458,771		USD	2,028		04/28/2022			(15,580	)
Barclays Bank PLC		PHP	14,601		USD	284		04/28/2022			75
Barclays Bank PLC		PHP	50,451		USD	978		04/28/2022			(2,405	)
Barclays Bank PLC		USD	2,445		AUD	3,446		04/28/2022			60,609
Barclays Bank PLC		USD	139		IDR	2,017,449		04/28/2022			450
Barclays Bank PLC		USD	255		IDR	3,677,473		04/28/2022			(153	)
Barclays Bank PLC		USD	188		JPY	21,615		04/28/2022			74
Barclays Bank PLC		USD	5,053		KRW	6,027,730		04/28/2022			(43,839	)
Barclays Bank PLC		USD	10,302		PHP	534,502		04/28/2022			89,948
Barclays Bank PLC		USD	1,118		CZK	24,852		05/06/2022			(17,863	)
Barclays Bank PLC		USD	2,395		HUF	779,925		05/06/2022			(59,391	)
Barclays Bank PLC		USD	897		CNH	5,697		05/18/2022			(504	)
Barclays Bank PLC		MYR	21,186		USD	5,044		06/16/2022			6,064
Barclays Bank PLC		MYR	33,298		USD	7,870		06/16/2022			(47,755	)
Barclays Bank PLC		USD	12,129		MYR	50,980		06/16/2022			(6,214	)
BNP Paribas SA		HUF	206,987		USD	656		05/06/2022			36,321
BNP Paribas SA		USD	4,156		EUR	3,674		05/12/2022			(25,823	)
Citibank, NA		SEK	10,165		USD	1,105		03/24/2022			31,021
Citibank, NA		COP	10,212,330		USD	2,555		03/25/2022			(33,078	)
Citibank, NA		USD	1,374		CLP	1,133,068		03/25/2022			39,554
Citibank, NA		USD	343		COP	1,370,404		03/25/2022			4,246
Citibank, NA		USD	2,495		CZK	54,026		05/06/2022			(103,810	)
Credit Suisse International		MXN	14,407		USD	706		03/24/2022			5,281
Credit Suisse International		SEK	3,937		USD	419		03/24/2022			3,289
Credit Suisse International		USD	595		MXN	12,233		03/24/2022			(12	)
Credit Suisse International		KRW	867,044		USD	725		04/28/2022			4,250
Credit Suisse International		USD	353		AUD	491		04/28/2022			4,225
Credit Suisse International		USD	1,259		JPY	144,653		04/28/2022			1,207
Credit Suisse International		CZK	43,424		USD	1,925		05/06/2022			2,947
Credit Suisse International		CNH	16,424		USD	2,579		05/18/2022			(6,575	)
Credit Suisse International		USD	2,044		CNH	13,008		05/18/2022			3,172
Deutsche Bank AG		RUB	66,505		USD	801		03/02/2022			185,505
Deutsche Bank AG		BRL	23,399		USD	4,553		03/03/2022			10,870
Deutsche Bank AG		USD	4,268		BRL	23,399		03/03/2022			274,477
Deutsche Bank AG		CHF	1,063		USD	1,155		03/16/2022			(5,199	)
Deutsche Bank AG		GBP	6,257		USD	8,552		03/17/2022			156,725
Deutsche Bank AG		USD	1,128		GBP	824		03/17/2022			(22,019	)
Deutsche Bank AG		MXN	22,230		USD	1,079		03/24/2022			(2,543	)
Deutsche Bank AG		USD	6,283		SEK	59,043		03/24/2022			(46,229	)
Deutsche Bank AG		CLP	3,696,424		USD	4,569		03/25/2022			(43,728	)
Deutsche Bank AG		COP	588,957		USD	150		03/25/2022			728
Deutsche Bank AG		COP	767,094		USD	194		03/25/2022			(679	)
Deutsche Bank AG		PEN	2,827		USD	749		03/25/2022			3,679
Deutsche Bank AG		PEN	2,205		USD	570		03/25/2022			(11,324	)
Deutsche Bank AG		USD	439		CLP	358,177		03/25/2022			8,198

29

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Deutsche Bank AG		USD	1,132		COP	4,537,862		03/25/2022		$	18,308
Deutsche Bank AG		USD	888		COP	3,480,087		03/25/2022			(6,338	)
Deutsche Bank AG		USD	164		PEN	637		03/25/2022			3,771
Deutsche Bank AG		INR	157,193		USD	2,087		04/07/2022			10,989
Deutsche Bank AG		CHF	3,467		USD	3,755		04/13/2022			(32,769	)
Deutsche Bank AG		EUR	1,605		CHF	1,657		04/13/2022			7,882
Deutsche Bank AG		SGD	1,296		USD	963		04/21/2022			7,220
Deutsche Bank AG		ZAR	29,802		USD	1,950		04/21/2022			23,916
Deutsche Bank AG		USD	5,039		CAD	6,423		04/22/2022			29,277
Deutsche Bank AG		IDR	28,654,240		USD	1,986		04/28/2022			452
Deutsche Bank AG		PHP	41,287		USD	797		04/28/2022			(5,525	)
Deutsche Bank AG		USD	3,531		IDR	51,021,556		04/28/2022			4,782
Deutsche Bank AG		USD	602		PHP	30,991		04/28/2022			777
Deutsche Bank AG		CZK	47,577		USD	2,170		05/06/2022			64,326
Deutsche Bank AG		PLN	6,909		USD	1,717		05/06/2022			79,082
Deutsche Bank AG		CNH	17,681		USD	2,765		05/18/2022			(18,389	)
Deutsche Bank AG		CAD	6,489		USD	5,117		06/15/2022			(3,359	)
Goldman Sachs Bank USA		RUB	284,626		USD	3,761		03/02/2022			1,125,979
Goldman Sachs Bank USA		USD	746		RUB	56,179		03/02/2022			(225,661	)
Goldman Sachs Bank USA		BRL	9,550		USD	1,858		03/03/2022			4,436
Goldman Sachs Bank USA		USD	1,174		BRL	6,342		03/03/2022			56,642
Goldman Sachs Bank USA		USD	624		BRL	3,208		03/03/2022			(1,660	)
Goldman Sachs Bank USA		USD	499		MXN	10,314		03/24/2022			2,429
Goldman Sachs Bank USA		COP	1,467,185		USD	372		03/25/2022			298
Goldman Sachs Bank USA		PEN	2,252		USD	584		03/25/2022			(9,298	)
Goldman Sachs Bank USA		USD	453		CLP	370,184		03/25/2022			8,561
Goldman Sachs Bank USA		USD	213		CLP	169,384		03/25/2022			(1,177	)
Goldman Sachs Bank USA		USD	3,625		COP	14,426,418		03/25/2022			30,917
Goldman Sachs Bank USA		USD	2,543		PEN	9,464		03/25/2022			(48,014	)
Goldman Sachs Bank USA		IDR	10,857,737		USD	756		04/28/2022			3,820
Goldman Sachs Bank USA		KRW	2,010,116		USD	1,688		04/28/2022			16,948
Goldman Sachs Bank USA		PHP	155,493		USD	2,990		04/28/2022			(33,431	)
Goldman Sachs Bank USA		USD	255		IDR	3,677,473		04/28/2022			(129	)
Goldman Sachs Bank USA		HUF	240,173		USD	721		05/06/2022			2,083
Goldman Sachs Bank USA		CNH	2,093		USD	330		05/18/2022			278
Goldman Sachs Bank USA		MYR	8,962		USD	2,088		06/16/2022			(43,318	)
Goldman Sachs Bank USA		USD	9,469		MYR	40,175		06/16/2022			84,250
Goldman Sachs Bank USA		USD	3,678		MYR	15,401		06/16/2022			(15,963	)
HSBC Bank USA		BRL	4,093		USD	766		03/03/2022			(28,663	)
HSBC Bank USA		USD	796		BRL	4,093		03/03/2022			(1,902	)
HSBC Bank USA		USD	2,314		GBP	1,712		03/17/2022			(17,388	)
HSBC Bank USA		NZD	11,140		USD	7,386		03/18/2022			(149,928	)
HSBC Bank USA		COP	14,750,192		USD	3,695		03/25/2022			(42,365	)
HSBC Bank USA		PEN	16,052		USD	4,146		03/25/2022			(85,539	)
HSBC Bank USA		USD	3,335		PEN	12,715		03/25/2022			16,425
HSBC Bank USA		AUD	7,751		USD	5,519		04/28/2022			(115,941	)
HSBC Bank USA		JPY	303,209		USD	2,627		04/28/2022			(13,383	)
HSBC Bank USA		KRW	2,213,045		USD	1,849		04/28/2022			9,450
HSBC Bank USA		PHP	226,507		USD	4,389		04/28/2022			(14,630	)
HSBC Bank USA		TWD	36,414		USD	1,315		04/28/2022			12,831
HSBC Bank USA		USD	2,054		KRW	2,473,736		04/28/2022			1,442
HSBC Bank USA		USD	1,066		KRW	1,274,798		04/28/2022			(6,071	)
HSBC Bank USA		USD	3,498		PHP	180,783		04/28/2022			16,570
HSBC Bank USA		TWD	35,548		USD	1,270		04/29/2022			(856	)
JPMorgan Chase Bank, NA		SEK	19,322		USD	2,120		03/24/2022			79,064
JPMorgan Chase Bank, NA		USD	858		SEK	7,820		03/24/2022			(31,999	)
Morgan Stanley Capital Services, Inc.		NZD	8,939		USD	6,048		03/18/2022			642
Morgan Stanley Capital Services, Inc.		USD	2,212		NZD	3,325		03/18/2022			37,383
Morgan Stanley Capital Services, Inc.		USD	2,253		NZD	3,330		03/18/2022			(239	)
Morgan Stanley Capital Services, Inc.		USD	1,750		MXN	36,015		03/24/2022			2,482
Morgan Stanley Capital Services, Inc.		CHF	1,657		USD	1,812		04/13/2022			1,438

30

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Morgan Stanley Capital Services, Inc.		CHF	1,746		USD	1,890		04/13/2022		$	(17,044	)
Morgan Stanley Capital Services, Inc.		USD	4,181		ZAR	64,072		04/21/2022			(40,215	)
Morgan Stanley Capital Services, Inc.		ZAR	95,528		USD	6,207		04/21/2022			33,370
Morgan Stanley Capital Services, Inc.		CAD	5,887		USD	4,630		04/22/2022			(15,221	)
Morgan Stanley Capital Services, Inc.		AUD	3,040		USD	2,174		04/28/2022			(35,788	)
Morgan Stanley Capital Services, Inc.		JPY	332,913		USD	2,883		04/28/2022			(16,696	)
Morgan Stanley Capital Services, Inc.		USD	1,044		PLN	4,161		05/06/2022			(57,286	)
Morgan Stanley Capital Services, Inc.		EUR	9,275		USD	10,578		05/12/2022			150,351
Morgan Stanley Capital Services, Inc.		EUR	3,907		USD	4,374		05/12/2022			(18,544	)
Morgan Stanley Capital Services, Inc.		USD	3,439		EUR	3,004		05/12/2022			(61,246	)
Morgan Stanley Capital Services, Inc.		USD	1,344		CNH	8,536		05/18/2022			(616	)
Morgan Stanley Capital Services, Inc.		MYR	10,669		USD	2,513		06/16/2022			(23,756	)
Standard Chartered Bank		IDR	39,892,785		USD	2,763		04/28/2022			(2,244	)
Standard Chartered Bank		JPY	2,460,164		USD	21,412		04/28/2022			(13,500	)
Standard Chartered Bank		USD	2,898		JPY	332,913		04/28/2022			1,827
State Street Bank & Trust Co.		THB	19,666		USD	604		03/10/2022			2,328
State Street Bank & Trust Co.		THB	435,615		USD	13,063		03/10/2022			(268,192	)
State Street Bank & Trust Co.		USD	8,461		THB	280,893		03/10/2022			135,634
State Street Bank & Trust Co.		USD	2,435		THB	78,852		03/10/2022			(21,964	)
State Street Bank & Trust Co.		USD	360		NZD	535		03/18/2022			2,209
State Street Bank & Trust Co.		MXN	14,150		USD	677		03/24/2022			(10,909	)
State Street Bank & Trust Co.		NOK	2,490		USD	283		03/24/2022			344
State Street Bank & Trust Co.		USD	334		MXN	6,857		03/24/2022			(542	)
State Street Bank & Trust Co.		USD	225		NOK	2,000		03/24/2022			2,186
State Street Bank & Trust Co.		USD	502		CHF	464		04/13/2022			4,305
State Street Bank & Trust Co.		USD	958		SGD	1,292		04/21/2022			(5,255	)
State Street Bank & Trust Co.		USD	541		ZAR	8,465		04/21/2022			6,474
State Street Bank & Trust Co.		USD	443		ZAR	6,751		04/21/2022			(6,639	)
State Street Bank & Trust Co.		ZAR	3,309		USD	213		04/21/2022			(932	)
State Street Bank & Trust Co.		CAD	1		USD	1		04/22/2022			(3	)
State Street Bank & Trust Co.		USD	361		AUD	499		04/28/2022			1,198
State Street Bank & Trust Co.		USD	513		JPY	59,022		04/28/2022			777
State Street Bank & Trust Co.		CZK	3,937		USD	182		05/06/2022			7,579
State Street Bank & Trust Co.		HUF	73,190		USD	230		05/06/2022			11,044
State Street Bank & Trust Co.		PLN	1,392		USD	334		05/06/2022			3,836
State Street Bank & Trust Co.		USD	405		PLN	1,695		05/06/2022			(2,853	)
State Street Bank & Trust Co.		USD	186		EUR	163		05/12/2022			(3,269	)
UBS AG		SEK	16,336		USD	1,737		03/24/2022			11,106
UBS AG		USD	1,641		EUR	1,448		04/13/2022			(14,089	)
UBS AG		USD	2,215		AUD	3,087		04/28/2022			29,387
UBS AG		USD	658		HUF	206,987		05/06/2022			(38,073	)
										$	(346,284	)

31

CENTRALLY CLEARED INTEREST RATE SWAPS

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund		Payments received by the Fund		Payment Frequency Paid/ Received		Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
USD	30,190	02/15/2024		3 Month LIBOR		2.605%		Quarterly/ Semi-Annual	$	593,642		$	906,717		$	(313,075	)
AUD	15,000	07/09/2025		6 Month BBSW		3.168%		Semi-Annual		480,402			568,704			(88,302	)
AUD	4,740	02/23/2027		6 Month BBSW		3.040%		Semi-Annual		142,303			205,041			(62,738	)
NZD	20,260	02/24/2027		3 Month BKBM		3.508%		Quarterly/ Semi-Annual		342,709			570,632			(227,923	)
AUD	9,490	02/27/2027		6 Month BBSW		2.975%		Semi-Annual		365,354			389,511			(24,157	)
NZD	10,120	02/28/2027		3 Month BKBM		3.445%		Quarterly/ Semi-Annual		149,507			266,103			(116,596	)
AUD	8,630	11/13/2030		6 Month BBSW		0.872%		Semi-Annual		(757,771	)		(601,567	)		(156,204	)
NZD	9,130	11/16/2030		3 Month BKBM		0.839%		Quarterly/ Semi-Annual		(1,022,947	)		(897,619	)		(125,328	)
USD	4,800	04/01/2031		3 Month LIBOR		1.744%		Semi-Annual/ Quarterly		32,683			—			32,683
									$	325,882		$	1,407,522		$	(1,081,640	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at February 28, 2022	Notional Amount (000)			Market Value		Upfront Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
Sale Contracts
CDX-NAHY Series 37, 5 Year Index, 12/20/2026*		5.00	%	Quarterly	3.65%		USD	8,770	$	576,144	$	504,838	$	71,306

* Termination date

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VARIANCE SWAPS
Swap Counterparty & Referenced Obligation	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	466	$	(67,083	)	$	—	$	(67,083	)
USD/JPY 04/19/2022*		6.85			Maturity		USD	754		(108,518	)		—		(108,518	)
									$	(175,601	)	$	—	$	(175,601	)

* Termination date

(a) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(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 February 28, 2022, the aggregate market value of these securities amounted to $94,114 or 0.0% 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, or call AB at (800) 227-4618.

(i) Affiliated investments.

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

(k) As of February 28, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $47,740,325 and gross unrealized depreciation of investments was $(13,516,535), resulting in net unrealized appreciation of $34,223,790.

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

COP – Colombian Peso

CZK – Czech Koruna

DKK – Danish Krone

EUR – Euro

GBP – Great British Pound

HKD – Hong Kong Dollar

HUF – Hungarian Forint

IDR – Indonesian Rupiah

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PHP – Philippine Peso

PLN – Polish Zloty

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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)

BKBM – Bank Bill Benchmark (New Zealand)

CBT – Chicago Board of Trade

CDX-NAHY – North American High Yield Credit Default Swap Index

CME – Chicago Mercantile Exchange

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

February 28, 2022 (unaudited)

67.8	%	United States
10.6	%	Japan
3.3	%	Luxembourg
3.0	%	Canada
1.7	%	United Kingdom
1.2	%	France
1.0	%	Switzerland
0.9	%	China
0.9	%	Germany
0.6	%	Sweden
0.6	%	Mexico
0.5	%	Denmark
0.5	%	Netherlands
2.1	%	Other
5.3	%	Short-Term Investments
100.0	%	Total Investments

1 All data are as of February 28, 2022. 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 0.3% 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.

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AB Global Risk Allocation Fund, Inc.

February 28, 2022 (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.

35

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of February 28, 2022:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Inflation-Linked Securities	$	—		$	106,466,037		$	—		$	106,466,037
Common Stocks:
Information Technology		11,017,923			893,526			—			11,911,449
Financials		6,668,796			4,225,972			—			10,894,768
Health Care		5,765,723			2,168,068			—			7,933,791
Industrials		5,319,925			1,814,082			13,045			7,147,052
Consumer Staples		4,463,611			1,860,093			—			6,323,704
Materials		4,162,340			1,730,037			—			5,892,377
Consumer Discretionary		4,166,607			1,418,246			—			5,584,853
Utilities		2,997,494			1,846,469			—			4,843,963
Energy		2,164,423			1,457,904			—			3,622,327
Communication Services		2,424,920			956,234			—			3,381,154
Real Estate		2,333,814			525,554			0	(a)		2,859,368
Investment Companies		18,391,391			—			0	(a)		18,391,391
Governments - Sovereign Bonds		—			1,242,679			—			1,242,679
Warrants		5,086			—			—			5,086
Preferred Stocks		4,048			—			—			4,048
Short-Term Investments		10,969,780			—			—			10,969,780
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		2,230,126			—			—			2,230,126
Total Investments in Securities		83,086,007			126,604,901			13,045			209,703,953
Other Financial Instruments(b):
Assets:
Futures		3,688,875			—			—			3,688,875
Forward Currency Exchange Contracts		—			3,427,928			—			3,427,928
Centrally Cleared Interest Rate Swaps		—			2,106,600			—			2,106,600
Centrally Cleared Credit Default Swaps		—			576,144			—			576,144
Liabilities:
Futures		(2,025,683	)		—			—			(2,025,683	)
Forward Currency Exchange Contracts		—			(3,774,212	)		—			(3,774,212	)
Centrally Cleared Interest Rate Swaps		—			(1,780,718	)		—			(1,780,718	)
Variance Swaps		—			(175,601	)		—			(175,601	)
Total	$	84,749,199		$	126,985,042		$	13,045		$	211,747,286

^(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.

36

A summary of the Fund’s transactions in AB mutual funds for the three months ended February 28, 2022 is as follows:

Fund	Market Value 11/30/2021 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 02/28/2022 (000)		Dividend Income (000)
Government Money Market Portfolio	$	8,456	$	28,985	$	26,471	$	10,970	$	0	**
Government Money Market Portfolio*		4,140		22,217		24,127		2,230		0	**
Total	$	12,596	$	51,202	$	50,598	$	13,200	$	0	**

* Investments of cash collateral for securities lending transactions.

** Amount less than $500.

37