Ab Portfolios NPORT-P/A AB Sustainable Thematic Balanced Portfolio (Nov 2022 report)

AB Sustainable Thematic Balanced Portfolio

Portfolio of Investments

November 30, 2022 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 69.4%
Information Technology – 25.5%
Communications Equipment – 2.5%
Ciena Corp.(a)		31,154	$	1,400,684
Lumentum Holdings, Inc.(a)		23,093		1,268,729
				2,669,413
Electronic Equipment, Instruments & Components – 6.0%
Flex Ltd.(a)		105,982		2,329,484
Keysight Technologies, Inc.(a)		11,904		2,153,315
TE Connectivity Ltd.		14,828		1,870,107
				6,352,906
IT Services – 4.3%
Accenture PLC - Class A		4,780		1,438,446
Maximus, Inc.		15,327		1,077,488
Visa, Inc. - Class A		9,542		2,070,614
				4,586,548
Semiconductors & Semiconductor Equipment – 5.3%
Monolithic Power Systems, Inc.		4,403		1,681,770
NVIDIA Corp.		5,961		1,008,780
NXP Semiconductors NV		9,558		1,680,679
ON Semiconductor Corp.(a)		16,912		1,271,782
				5,643,011
Software – 4.4%
Adobe, Inc.(a)		3,392		1,170,003
Intuit, Inc.		3,156		1,286,354
Microsoft Corp.		8,695		2,218,442
				4,674,799
Technology Hardware, Storage & Peripherals – 3.0%
Apple, Inc.		11,948		1,768,662
Dell Technologies, Inc. - Class C		31,549		1,413,080
				3,181,742
				27,108,419
Health Care – 14.8%
Health Care Equipment & Supplies – 5.0%
Alcon, Inc.		21,158		1,457,575
Becton Dickinson and Co.		7,425		1,851,349
Koninklijke Philips NV (ADR)(b)		17,467		262,704
STERIS PLC		9,132		1,696,178
				5,267,806
Health Care Providers & Services – 2.7%
Laboratory Corp. of America Holdings		5,432		1,307,483
UnitedHealth Group, Inc.		2,899		1,587,956
				2,895,439
Life Sciences Tools & Services – 7.1%
Bio-Rad Laboratories, Inc. - Class A(a)		3,076		1,275,648

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Company	Shares		U.S. $ Value
Bruker Corp.		20,858	$	1,406,038
Danaher Corp.		8,687		2,375,112
ICON PLC(a)		6,361		1,370,414
West Pharmaceutical Services, Inc.		4,929		1,156,639
				7,583,851
				15,747,096
Industrials – 10.2%
Aerospace & Defense – 1.2%
Hexcel Corp.		21,513		1,289,704
Building Products – 1.0%
Owens Corning		12,314		1,093,976
Commercial Services & Supplies – 3.7%
Tetra Tech, Inc.		10,582		1,635,871
Waste Management, Inc.		13,695		2,296,926
				3,932,797
Electrical Equipment – 1.1%
Rockwell Automation, Inc.		4,405		1,163,889
Machinery – 3.2%
Deere & Co.		5,535		2,440,935
Xylem, Inc./NY		8,674		974,524
				3,415,459
				10,895,825
Financials – 6.5%
Banks – 0.7%
SVB Financial Group(a)		3,223		747,027
Capital Markets – 3.6%
Intercontinental Exchange, Inc.		15,935		1,725,920
MSCI, Inc. - Class A		4,184		2,124,761
				3,850,681
Insurance – 2.2%
Aflac, Inc.		32,679		2,350,600
				6,948,308
Consumer Discretionary – 4.4%
Auto Components – 1.0%
Aptiv PLC(a)		9,973		1,063,820
Household Durables – 0.9%
TopBuild Corp.(a)		6,183		952,676
Specialty Retail – 1.4%
Home Depot, Inc. (The)		4,733		1,533,445
Textiles, Apparel & Luxury Goods – 1.1%
NIKE, Inc. - Class B		10,764		1,180,703
				4,730,644

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Company	Shares		U.S. $ Value
Utilities – 3.4%
Electric Utilities – 2.1%
NextEra Energy, Inc.		25,859	$	2,190,257
Water Utilities – 1.3%
American Water Works Co., Inc.		9,440		1,432,615
				3,622,872
Consumer Staples – 3.3%
Food & Staples Retailing – 0.0%
Progenics Pharmaceuticals, Inc.(c) (d)		24,977		0
Household Products – 1.7%
Procter & Gamble Co. (The)		11,794		1,759,193
Personal Products – 1.6%
Unilever PLC (Sponsored ADR)(b)		34,688		1,747,581
				3,506,774
Real Estate – 1.3%
Equity Real Estate Investment Trusts (REITs) – 1.3%
SBA Communications Corp.		4,691		1,404,016
Total Common Stocks (cost $80,325,052)				73,963,954
	Principal Amount (000)
GOVERNMENTS - TREASURIES – 30.0%
United States – 30.0%
U.S. Treasury Bonds 1.25%, 05/15/2050	U.S.$	1,247		689,607
1.875%, 11/15/2051		655		426,578
2.25%, 02/15/2052		677		484,475
2.50%, 02/15/2046		962		731,794
3.00%, 05/15/2042		3,268		2,801,371
3.00%, 02/15/2048		557		465,721
3.00%, 02/15/2049		494		416,349
3.00%, 08/15/2052		137		116,619
6.125%, 08/15/2029		585		662,282
U.S. Treasury Notes 0.25%, 05/31/2025		5,857		5,307,725
0.625%, 05/15/2030		3,290		2,636,193
1.625%, 02/15/2026		314		291,022
1.875%, 02/28/2027		2,976		2,736,530
1.875%, 02/15/2032		3,005		2,578,110
2.00%, 02/15/2025		3,919		3,727,949
2.00%, 08/15/2025		847		799,715
2.25%, 08/15/2027		1,598		1,485,641
2.375%, 01/31/2023		1,297		1,292,847
2.50%, 03/31/2027		2,574		2,427,604
2.625%, 02/15/2029		1,069		997,530
2.75%, 02/15/2024		712		696,260
2.75%, 08/15/2032		139		128,227
Total Governments - Treasuries (cost $36,507,908)				31,900,149

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	Principal Amount (000)		U.S. $ Value
AGENCIES – 1.5%
Agency Debentures – 1.5%
Federal National Mortgage Association 6.625%, 11/15/2030 (cost $1,901,631)	U.S.$	1,382	$	1,619,341
	Shares
SHORT-TERM INVESTMENTS – 2.5%
Investment Companies – 2.5%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.50%(e) (f) (g) (cost $2,626,305)		2,626,305		2,626,305
Total Investments – 99.1% (cost $121,360,896)(h)				110,109,749
Other assets less liabilities – 0.9%				996,920
Net Assets – 100.0%			$	111,106,669

(a) Non-income producing security.

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

(c) Fair valued by the Adviser.

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

(e) Affiliated investments.

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

(g) 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.

(h) As of November 30, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $4,050,179 and gross unrealized depreciation of investments was $(15,301,326), resulting in net unrealized depreciation of $(11,251,147).

Glossary:

ADR – American Depositary Receipt

REIT – Real Estate Investment Trust

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AB Sustainable Thematic Balanced Portfolio

November 30, 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)

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2022:

Investments in Securities:	Level 1		Level 2		Level 3			Total
Assets:
Common Stocks(a)	$	73,963,954	$	—	$	0	(b)	$	73,963,954
Governments - Treasuries		—		31,900,149		—			31,900,149
Agencies		—		1,619,341		—			1,619,341
Short-Term Investments		2,626,305		—		—			2,626,305
Total Investments in Securities		76,590,259		33,519,490		0	(b)		110,109,749
Other Financial Instruments(c)		—		—		—			—
Total	$	76,590,259	$	33,519,490	$	0	(b)	$	110,109,749

^(a) See Portfolio of Investments for sector classifications.

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

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^(c)  Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2022 is as follows:

Fund	Market Value 08/31/2022 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 11/30/2022 (000)		Dividend Income (000)
Government Money Market Portfolio	$	2,482	$	6,720	$	6,576	$	2,626	$	21

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