Ab Cap Fund NPORT-P AB Small Cap Growth Portfolio (Apr 2024 report)

AB Small Cap Growth Portfolio

Portfolio of Investments

April 30, 2024 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 96.8%
Information Technology – 25.4%
Electronic Equipment, Instruments & Components – 2.6%
Fabrinet(a) (b)		341,927	$	59,177,306
Novanta, Inc.(b)		224,664		35,159,916
				94,337,222
Semiconductors & Semiconductor Equipment – 8.3%
Astera Labs, Inc.(b)		20,591		1,745,293
Impinj, Inc.(a) (b)		248,810		39,655,338
Lattice Semiconductor Corp.(a) (b)		480,272		32,946,659
MACOM Technology Solutions Holdings, Inc.(b)		721,787		73,586,185
Onto Innovation, Inc.(b)		379,738		70,437,602
Semtech Corp.(a) (b)		1,179,230		44,362,632
Universal Display Corp.		242,068		38,241,903
				300,975,612
Software – 10.4%
Altair Engineering, Inc. - Class A(b)		723,926		58,239,847
BILL Holdings, Inc.(b)		28,770		1,794,097
Braze, Inc. - Class A(b)		982,638		41,172,532
Clearwater Analytics Holdings, Inc. - Class A(b)		2,102,805		33,182,263
Five9, Inc.(b)		600,447		34,567,734
Freshworks, Inc. - Class A(b)		2,620,410		46,774,318
Klaviyo, Inc. - Class A(a) (b)		1,184,610		26,535,264
Manhattan Associates, Inc.(b)		106,901		22,028,020
Monday.com Ltd.(b)		234,505		44,398,832
SPS Commerce, Inc.(b)		377,669		65,665,309
				374,358,216
Technology Hardware, Storage & Peripherals – 4.1%
ACV Auctions, Inc. - Class A(b)		3,064,556		53,476,502
Super Micro Computer, Inc.(a) (b)		109,020		93,626,376
				147,102,878
				916,773,928
Health Care – 18.9%
Biotechnology – 11.6%
Akero Therapeutics, Inc.(a) (b)		502,743		9,999,558
Apogee Therapeutics, Inc.(a) (b)		208,402		10,482,621
Ascendis Pharma A/S (ADR)(b)		146,870		20,332,683
Blueprint Medicines Corp.(b)		365,361		33,372,074
Bridgebio Pharma, Inc.(b)		839,443		21,506,530
CG oncology, Inc.(b)		510,230		20,506,144
Cytokinetics, Inc.(a) (b)		496,990		30,475,427
Halozyme Therapeutics, Inc.(a) (b)		895,641		34,123,922
Insmed, Inc.(b)		896,098		22,151,542
Intellia Therapeutics, Inc.(b)		447,077		9,567,448
Kyverna Therapeutics, Inc.(b)		267,632		4,051,948

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Company	Shares		U.S. $ Value
Legend Biotech Corp. (ADR)(b)		319,456	$	13,973,005
MoonLake Immunotherapeutics(b)		291,239		11,914,587
Natera, Inc.(b)		657,737		61,090,612
Ultragenyx Pharmaceutical, Inc.(b)		332,016		14,123,961
Vaxcyte, Inc.(b)		541,627		32,795,515
Viking Therapeutics, Inc.(b)		482,620		38,406,900
Viridian Therapeutics, Inc.(b)		891,112		11,816,145
Xenon Pharmaceuticals, Inc.(b)		448,215		18,219,940
				418,910,562
Health Care Equipment & Supplies – 1.9%
AtriCure, Inc.(b)		1,100,345		26,540,321
iRhythm Technologies, Inc.(a) (b)		388,969		42,623,223
				69,163,544
Health Care Providers & Services – 2.8%
BrightSpring Health Services, Inc.(b)		1,683,718		17,998,946
Inari Medical, Inc.(a) (b)		693,967		25,912,728
PROCEPT BioRobotics Corp.(a) (b)		1,076,437		57,029,632
				100,941,306
Life Sciences Tools & Services – 1.6%
Quanterix Corp.(b)		1,428,894		23,033,771
Repligen Corp.(b)		206,000		33,825,200
				56,858,971
Pharmaceuticals – 1.0%
Intra-Cellular Therapies, Inc.(b)		493,965		35,471,627
				681,346,010
Industrials – 17.2%
Aerospace & Defense – 3.0%
AeroVironment, Inc.(b)		42,757		6,832,141
Curtiss-Wright Corp.		183,411		46,480,016
Leonardo DRS, Inc.(b)		2,009,656		43,247,797
Loar Holdings, Inc.(b)		227,316		11,893,173
				108,453,127
Building Products – 1.2%
AZEK Co., Inc. (The)(b)		932,645		42,565,918
Commercial Services & Supplies – 1.4%
Tetra Tech, Inc.		265,809		51,758,328
Construction & Engineering – 3.3%
Centuri Holdings, Inc.(b)		519,697		12,862,501
Comfort Systems USA, Inc.		217,112		67,176,624
Construction Partners, Inc. - Class A(b)		733,366		37,871,020
				117,910,145

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Company	Shares		U.S. $ Value
Electrical Equipment – 1.4%
NEXTracker, Inc. - Class A(a) (b)		1,170,838	$	50,100,158
Ground Transportation – 1.1%
ArcBest Corp.		351,749		39,012,482
Machinery – 3.7%
Esab Corp.		334,609		35,428,401
ITT, Inc.		282,913		36,591,967
SPX Technologies, Inc.(b)		494,431		60,226,640
				132,247,008
Professional Services – 1.0%
FTI Consulting, Inc.(b)		173,232		37,042,199
Trading Companies & Distributors – 1.1%
SiteOne Landscape Supply, Inc.(b)		265,132		41,596,559
				620,685,924
Consumer Discretionary – 14.4%
Automobile Components – 1.3%
Modine Manufacturing Co.(a) (b)		509,030		47,151,449
Broadline Retail – 0.7%
Savers Value Village, Inc.(a) (b)		1,488,512		24,590,218
Diversified Consumer Services – 1.7%
Duolingo, Inc.(a) (b)		270,810		61,135,357
Hotels, Restaurants & Leisure – 3.5%
Cava Group, Inc.(a) (b)		591,252		42,534,669
Texas Roadhouse, Inc.		276,106		44,392,323
Wingstop, Inc.		105,236		40,493,760
				127,420,752
Household Durables – 3.8%
Meritage Homes Corp.		238,288		39,493,853
SharkNinja, Inc.		856,606		55,062,634
Skyline Champion Corp.(b)		560,529		42,034,070
				136,590,557
Specialty Retail – 3.4%
Boot Barn Holdings, Inc.(a) (b)		540,875		57,586,961
Five Below, Inc.(b)		185,857		27,198,314
Lithia Motors, Inc.(a)		13,077		3,326,527
Wayfair, Inc. - Class A(a) (b)		700,481		35,129,122
				123,240,924
				520,129,257
Financials – 6.6%
Capital Markets – 3.3%
Houlihan Lokey, Inc.		314,990		40,158,075
StepStone Group, Inc. - Class A		944,821		34,079,693
Stifel Financial Corp.		569,681		45,528,906
				119,766,674

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Company	Shares		U.S. $ Value
Financial Services – 1.7%
Flywire Corp.(b)		1,466,609	$	30,065,484
Shift4 Payments, Inc. - Class A(a) (b)		532,323		30,800,209
				60,865,693
Insurance – 1.6%
Kinsale Capital Group, Inc.		48,046		17,452,710
RLI Corp.		276,106		39,027,583
				56,480,293
				237,112,660
Energy – 6.2%
Energy Equipment & Services – 1.6%
TechnipFMC PLC		2,160,437		55,350,396
Oil, Gas & Consumable Fuels – 4.6%
Gulfport Energy Corp.(b)		263,730		41,856,588
Matador Resources Co.		919,559		57,288,526
Permian Resources Corp.(a)		2,847,537		47,696,245
Southwestern Energy Co.(b)		2,629,447		19,694,558
				166,535,917
				221,886,313
Consumer Staples – 4.9%
Consumer Staples Distribution & Retail – 2.4%
Chefs’ Warehouse, Inc. (The)(a) (b)		1,380,533		45,668,032
Grocery Outlet Holding Corp.(b)		1,620,328		42,079,918
				87,747,950
Food Products – 1.2%
Freshpet, Inc.(a) (b)		403,193		42,766,681
Personal Care Products – 1.3%
BellRing Brands, Inc.(b)		851,010		46,950,222
				177,464,853
Materials – 2.1%
Chemicals – 1.0%
Element Solutions, Inc.		1,545,446		35,746,166
Construction Materials – 1.1%
Summit Materials, Inc. - Class A(b)		1,052,224		40,931,513
				76,677,679
Real Estate – 1.1%
Real Estate Management & Development – 1.1%
DigitalBridge Group, Inc.		2,419,159		39,770,974
Total Common Stocks (cost $2,856,069,380)				3,491,847,598
INVESTMENT COMPANIES – 1.7%
Funds and Investment Trusts – 1.7%
iShares Russell 2000 Growth ETF(a) (c) (cost $53,353,211)		242,939		60,812,491

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Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 1.4%
Investment Companies – 1.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.21%(c) (d) (e) (cost $51,078,041)		51,078,041	$	51,078,041
Total Investments Before Security Lending Collateral for Securities Loaned – 99.9% (cost $2,960,500,632)				3,603,738,130
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 2.4%
Investment Companies – 2.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.21%(c) (d) (e) (cost $87,902,403)		87,902,403		87,902,403
Total Investments – 102.3% (cost $3,048,403,035)(f)				3,691,640,533
Other assets less liabilities – (2.3)%				(82,319,257	)
Net Assets – 100.0%			$	3,609,321,276

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

(b) Non-income producing security.

(c) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(d) Affiliated investments.

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

(f) As of April 30, 2024, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $836,429,042 and gross unrealized depreciation of investments was $(193,191,544), resulting in net unrealized appreciation of $643,237,498.

  Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Glossary:

ADR – American Depositary Receipt

ETF – Exchange Traded Fund

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AB Small Cap Growth Portfolio

April 30, 2024 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

• Level 1 - quoted prices in active markets for identical investments

• Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

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

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of April 30, 2024:

Investments in Securities:	Level 1		Level 2		Level 3		Total
Assets:
Common Stocks(a)	$	3,491,847,598	$	—	$	—	$	3,491,847,598
Investment Companies		60,812,491		—		—		60,812,491
Short-Term Investments		51,078,041		—		—		51,078,041
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		87,902,403		—		—		87,902,403
Total Investments in Securities		3,691,640,533		—		—		3,691,640,533
Other Financial Instruments(b)		—		—		—		—
Total	$	3,691,640,533	$	—	$	—	$	3,691,640,533

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

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

A summary of the Fund’s transactions in AB mutual funds for the nine months ended April 30, 2024 is as follows:

Fund	Market Value 07/31/2023 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 04/30/2024 (000)		Dividend Income (000)
Government Money Market Portfolio	$	85,124	$	887,535	$	921,581	$	51,078	$	2,361
Government Money Market Portfolio*		64,065		851,056		827,219		87,902		2,197
Total	$	149,189	$	1,738,591	$	1,748,800	$	138,980	$	4,558

* Investments of cash collateral for securities lending transactions

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