Ab Variable Products Series Fund NPORT-P AB Dynamic Asset Allocation Portfolio (Mar 2020 report)

AB Variable Products Series Fund, Inc.

AB Dynamic Asset Allocation Portfolio

Portfolio of Investments

March 31, 2020 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 48.5%
Information Technology – 7.6%
Communications Equipment – 0.3%
Arista Networks, Inc.(a)		335	$	67,854
Cisco Systems, Inc.		21,540		846,738
F5 Networks, Inc.(a)		280		29,856
Juniper Networks, Inc.		1,610		30,815
Motorola Solutions, Inc.		825		109,659
Nokia Oyj		62,192		191,543
Telefonaktiebolaget LM Ericsson - Class B		28,969		234,503
				1,510,968
Electronic Equipment, Instruments & Components – 0.6%
Alps Alpine Co., Ltd.		2,053		19,782
Amphenol Corp. - Class A		1,510		110,049
CDW Corp./DE		732		68,274
Corning, Inc.		3,815		78,360
FLIR Systems, Inc.		610		19,453
Halma PLC		4,302		101,037
Hamamatsu Photonics KK		1,600		65,015
Hexagon AB - Class B		4,263		180,262
Hirose Electric Co., Ltd.		315		32,474
Hitachi High-Tech Corp.		1,881		138,953
Hitachi Ltd.		10,400		298,755
Ingenico Group SA		930		97,212
IPG Photonics Corp.(a)		123		13,564
Keyence Corp.		2,108		677,748
Keysight Technologies, Inc.(a)		928		77,655
Kyocera Corp.		3,637		214,622
Murata Manufacturing Co., Ltd.		6,584		327,322
Omron Corp.		1,800		93,065
Shimadzu Corp.		2,000		52,197
TDK Corp.		1,200		92,267
TE Connectivity Ltd.		1,660		104,547
Venture Corp., Ltd.		4,005		38,152
Yaskawa Electric Corp.		2,723		74,040
Yokogawa Electric Corp.		4,500		53,832
Zebra Technologies Corp. - Class A(a)		312		57,283
				3,085,920
IT Services – 1.5%
Accenture PLC - Class A		3,225		526,514
Adyen NV(a) (b)		83		70,541
Akamai Technologies, Inc.(a)		805		73,649
Alliance Data Systems Corp.		180		6,057
Amadeus IT Group SA - Class A		4,973		234,073
Atos SE		677		45,105
Automatic Data Processing, Inc.		2,180		297,962
Broadridge Financial Solutions, Inc.		519		49,217
Capgemini SE		1,557		130,106
Cognizant Technology Solutions Corp. - Class A		2,690		125,004
Computershare Ltd.		3,663		21,928
DXC Technology Co.		1,218		15,895
Edenred		2,787		115,659
Fidelity National Information Services, Inc.		3,099		376,962
Fiserv, Inc.(a)		2,838		269,582
FleetCor Technologies, Inc.(a)		461		85,995

Company	Shares		U.S. $ Value
Fujitsu Ltd.		2,228	$	200,673
Gartner, Inc.(a)		440		43,811
Global Payments, Inc.		1,577		227,451
GMO Payment Gateway, Inc.		913		63,988
International Business Machines Corp.		4,538		503,400
Itochu Techno-Solutions Corp.		1,463		41,667
Jack Henry & Associates, Inc.		397		61,630
Leidos Holdings, Inc.		695		63,697
Mastercard, Inc. - Class A		4,510		1,089,436
NEC Corp.		2,500		91,033
Nomura Research Institute Ltd.		3,900		82,379
NTT Data Corp.		6,010		57,531
Obic Co., Ltd.		730		95,111
Otsuka Corp.		1,200		51,157
Paychex, Inc.		1,545		97,211
PayPal Holdings, Inc.(a)		5,985		573,004
VeriSign, Inc.(a)		575		103,552
Visa, Inc. - Class A		8,700		1,401,744
Western Union Co. (The) - Class W		2,090		37,892
Wirecard AG		1,262		142,190
Wix.com Ltd.(a) (c)		543		54,745
Worldline SA/France(a) (b)		270		15,936
				7,543,487
Semiconductors & Semiconductor Equipment – 1.5%
Advanced Micro Devices, Inc.(a)		5,903		268,468
Advantest Corp.		2,262		90,095
Analog Devices, Inc.		1,860		166,749
Applied Materials, Inc.		4,625		211,918
ASM Pacific Technology Ltd.		900		8,345
ASML Holding NV		4,875		1,285,121
Broadcom, Inc.		2,059		488,189
Disco Corp.		309		60,117
Infineon Technologies AG		14,329		206,850
Intel Corp.		22,060		1,193,887
KLA Corp.		810		116,429
Lam Research Corp.		729		174,960
Maxim Integrated Products, Inc.		1,375		66,839
Microchip Technology, Inc.(c)		1,145		77,631
Micron Technology, Inc.(a)		5,580		234,695
NVIDIA Corp.		3,165		834,294
NXP Semiconductors NV		3,195		264,961
Qorvo, Inc.(a)		518		41,766
QUALCOMM, Inc.		5,714		386,552
Renesas Electronics Corp.(a)		9,161		32,586
Rohm Co., Ltd.		1,300		70,567
Skyworks Solutions, Inc.		824		73,649
STMicroelectronics NV		12,251		263,355
SUMCO Corp.		2,522		32,047
Texas Instruments, Inc.		4,745		474,168
Tokyo Electron Ltd.		1,689		314,785
Xilinx, Inc.		1,285		100,153
				7,539,176
Software – 2.4%
Adobe, Inc.(a)		2,480		789,235
ANSYS, Inc.(a)		412		95,778

Company	Shares		U.S. $ Value
Autodesk, Inc.(a)		1,135	$	177,173
AVEVA Group PLC		740		31,883
Cadence Design Systems, Inc.(a)		1,414		93,380
Check Point Software Technologies Ltd.(a)		1,396		140,354
Citrix Systems, Inc.		580		82,099
CyberArk Software Ltd.(a)		439		37,561
Dassault Systemes SE		1,424		207,891
Fortinet, Inc.(a)		669		67,683
Intuit, Inc.		1,380		317,400
Micro Focus International PLC		3,943		19,457
Microsoft Corp.		38,773		6,114,890
Nice Ltd.(a)		690		99,771
NortonLifeLock, Inc.		2,825		52,856
Oracle Corp.		10,961		529,745
Oracle Corp. Japan		500		43,611
Paycom Software, Inc.(a)		284		57,371
Sage Group PLC (The)		12,240		89,004
salesforce.com, Inc.(a)		4,553		655,541
SAP SE		11,137		1,243,423
ServiceNow, Inc.(a)		979		280,562
Synopsys, Inc.(a)		722		92,986
Temenos AG(a)		662		86,291
Trend Micro, Inc./Japan		1,600		79,011
WiseTech Global Ltd.		2,856		29,691
				11,514,647
Technology Hardware, Storage & Peripherals – 1.3%
Apple, Inc.		21,274		5,409,765
Brother Industries Ltd.		2,200		33,322
Canon, Inc.		11,400		247,733
FUJIFILM Holdings Corp.		4,200		206,974
Hewlett Packard Enterprise Co.		6,580		63,892
HP, Inc.		7,470		129,679
Konica Minolta, Inc.		6,000		24,173
NetApp, Inc.		1,090		45,442
Ricoh Co., Ltd.		6,000		43,808
Seagate Technology PLC		1,150		56,120
Seiko Epson Corp.		2,700		29,060
Western Digital Corp.		1,413		58,809
Xerox Holdings Corp.(a)		866		16,402
				6,365,179
				37,559,377
Health Care – 7.2%
Biotechnology – 0.8%
AbbVie, Inc.		7,502		571,577
Alexion Pharmaceuticals, Inc.(a)		1,080		96,973
Amgen, Inc.		3,078		624,003
BeiGene Ltd. (Sponsored ADR)(a) (c)		415		51,091
Biogen, Inc.(a)		915		289,488
CSL Ltd.		5,165		936,268
Genmab A/S(a)		745		149,647
Gilead Sciences, Inc.		6,425		480,333
Grifols SA		3,644		121,918
Incyte Corp.(a)		890		65,175

Company		Shares		U.S. $ Value
PeptiDream, Inc.(a)			1,023	$	35,610
Regeneron Pharmaceuticals, Inc.(a)			390		190,433
Vertex Pharmaceuticals, Inc.(a)			1,367		325,277
					3,937,793
Health Care Equipment & Supplies – 1.4%
Abbott Laboratories			8,926		704,351
ABIOMED, Inc.(a)			208		30,193
Alcon, Inc.(a)			4,817		246,778
Align Technology, Inc.(a)			340		59,143
Asahi Intecc Co., Ltd.			1,468		36,307
Baxter International, Inc.			2,590		210,282
Becton Dickinson and Co.			1,438		330,409
BioMerieux			788		89,208
Boston Scientific Corp.(a)			7,010		228,736
Carl Zeiss Meditec AG			488		46,468
Cochlear Ltd.			682		77,729
Coloplast A/S - Class B			1,154		167,360
Cooper Cos., Inc. (The)			311		85,733
Danaher Corp.			3,290		455,369
Demant A/S(a)			2,050		44,636
DENTSPLY SIRONA, Inc.			1,046		40,616
Edwards Lifesciences Corp.(a)			1,090		205,596
Fisher & Paykel Healthcare Corp., Ltd.			6,133		111,489
Hologic, Inc.(a)			1,320		46,332
Hoya Corp.			4,322		367,506
IDEXX Laboratories, Inc.(a)			433		104,890
Intuitive Surgical, Inc.(a)			655		324,363
Koninklijke Philips NV			14,135		580,346
Medtronic PLC			6,829		615,839
Olympus Corp.			13,355		192,516
ResMed, Inc.			766		112,824
Sartorius AG (Preference Shares)			812		194,129
Siemens Healthineers AG(b)			1,618		62,546
Smith & Nephew PLC			9,779		172,272
Sonova Holding AG	��		666		118,757
STERIS PLC			391		54,728
Straumann Holding AG			145		106,010
Stryker Corp.			1,665		277,206
Sysmex Corp.			1,836		132,880
Teleflex, Inc.			211		61,794
Terumo Corp.			6,600		226,125
Varian Medical Systems, Inc.(a)			445		45,684
Zimmer Biomet Holdings, Inc.			1,025		103,607
					7,070,757
Health Care Providers & Services – 0.8%
Alfresa Holdings Corp.			2,700		50,251
AmerisourceBergen Corp. - Class A			735		65,048
Anthem, Inc.			1,260		286,070
Cardinal Health, Inc.			1,465		70,232
Centene Corp.(a)			2,936		174,428
Cigna Corp.(a)			1,861		329,732
CVS Health Corp.			6,589		390,925
DaVita, Inc.(a)			450		34,227

Company	Shares		U.S. $ Value
Fresenius Medical Care AG & Co. KGaA		2,085	$	136,100
Fresenius SE & Co. KGaA		4,696		174,845
HCA Healthcare, Inc.		1,270		114,109
Henry Schein, Inc.(a) (c)		690		34,859
Humana, Inc.		685		215,104
Laboratory Corp. of America Holdings(a)		525		66,355
McKesson Corp.		865		117,000
Medipal Holdings Corp.		3,900		72,875
NMC Health PLC(d) (e) (f)		1,143		1,489
Quest Diagnostics, Inc.		700		56,210
Ramsay Health Care Ltd.		1,156		40,648
Ryman Healthcare Ltd.		5,937		36,013
Sonic Healthcare Ltd.		5,598		84,137
Suzuken Co., Ltd./Aichi Japan		1,200		43,598
UnitedHealth Group, Inc.		4,805		1,198,271
Universal Health Services, Inc. - Class B		400		39,632
				3,832,158
Health Care Technology – 0.0%
Cerner Corp.		1,580		99,524
M3, Inc.		4,140		122,118
				221,642
Life Sciences Tools & Services – 0.4%
Agilent Technologies, Inc.		1,545		110,653
Illumina, Inc.(a)		731		199,651
IQVIA Holdings, Inc.(a)		896		96,643
Lonza Group AG		779		320,421
Mettler-Toledo International, Inc.(a)		170		117,387
PerkinElmer, Inc.		555		41,780
QIAGEN NV(a)		2,703		109,140
Sartorius Stedim Biotech		712		142,082
Thermo Fisher Scientific, Inc.		2,085		591,306
Waters Corp.(a)		345		62,807
				1,791,870
Pharmaceuticals – 3.8%
Allergan PLC		1,660		293,986
Astellas Pharma, Inc.		22,500		346,666
AstraZeneca PLC		15,028		1,338,978
Bayer AG		10,385		595,044
Bristol-Myers Squibb Co.		11,915		664,142
Chugai Pharmaceutical Co., Ltd.		2,537		293,520
Daiichi Sankyo Co., Ltd.		6,428		441,453
Eisai Co., Ltd.		2,933		214,541
Eli Lilly & Co.		4,323		599,687
GlaxoSmithKline PLC		57,174		1,072,822
Hisamitsu Pharmaceutical Co., Inc.		1,000		46,404
Ipsen SA		880		45,109
Johnson & Johnson		13,395		1,756,486
Kyowa Kirin Co., Ltd.		2,152		48,096
Merck & Co., Inc.		12,935		995,219
Merck KGaA		1,230		124,183
Mylan NV(a)		2,555		38,095
Nippon Shinyaku Co., Ltd.		701		54,893
Novartis AG		24,523		2,023,118
Novo Nordisk A/S - Class B		20,377		1,216,834

Company	Shares		U.S. $ Value
Ono Pharmaceutical Co., Ltd.		3,900	$	89,624
Orion Oyj - Class B		974		39,638
Otsuka Holdings Co., Ltd.		4,348		169,652
Perrigo Co. PLC		672		32,316
Pfizer, Inc.		28,054		915,683
Recordati SpA		2,055		86,583
Roche Holding AG		7,961		2,561,387
Sanofi		12,344		1,068,679
Santen Pharmaceutical Co., Ltd.		4,389		75,323
Shionogi & Co., Ltd.		2,800		137,926
Sumitomo Dainippon Pharma Co., Ltd.		2,900		37,646
Taisho Pharmaceutical Holdings Co., Ltd.		567		34,802
Takeda Pharmaceutical Co., Ltd.		16,445		500,719
Teva Pharmaceutical Industries Ltd. (Sponsored ADR)(a)		12,347		110,876
UCB SA		1,519		129,969
Vifor Pharma AG		802		109,720
Zoetis, Inc.		2,426		285,516
				18,595,335
				35,449,555
Financials – 6.8%
Banks – 3.0%
AIB Group PLC(a)		5,844		6,480
Aozora Bank Ltd.		2,000		38,168
Australia & New Zealand Banking Group Ltd.		31,095		326,106
Banco Bilbao Vizcaya Argentaria SA		73,153		226,522
Banco de Sabadell SA		69,405		35,099
Banco Santander SA		190,461		453,072
Bank Hapoalim BM		14,749		88,374
Bank LeumiLe-Israel BM		16,778		92,513
Bank of America Corp.		41,156		873,742
Bank of East Asia Ltd. (The)		41,231		88,111
Bank of Ireland Group PLC		11,605		21,633
Bank of Kyoto Ltd. (The)		400		12,677
Bankia SA		10,832		11,812
Bankinter SA		7,353		26,674
Barclays PLC		188,978		214,761
Bendigo & Adelaide Bank Ltd.		9,233		35,472
BNP Paribas SA		13,908		406,047
BOC Hong Kong Holdings Ltd.		39,500		108,428
CaixaBank SA		42,465		78,586
Chiba Bank Ltd. (The)		11,000		47,885
Citigroup, Inc.		11,049		465,384
Citizens Financial Group, Inc.		2,179		40,987
Comerica, Inc.		650		19,071
Commerzbank AG		15,814		56,295
Commonwealth Bank of Australia		20,060		756,864
Concordia Financial Group Ltd.		11,221		32,660
Credit Agricole SA		14,327		101,376
Danske Bank A/S		7,940		88,367
DBS Group Holdings Ltd.		21,665		282,688
DNB ASA		9,303		103,644
Erste Group Bank AG		3,207		58,713
Fifth Third Bancorp		3,590		53,312
First Republic Bank/CA		823		67,716
Fukuoka Financial Group, Inc.		1,800		23,745
Hang Seng Bank Ltd.		8,100		138,002
HSBC Holdings PLC		231,396		1,299,004

Company	Shares		U.S. $ Value
Huntington Bancshares, Inc./OH		5,245	$	43,061
ING Groep NV		36,740		188,259
Intesa Sanpaolo SpA		165,706		268,122
Israel Discount Bank Ltd. - Class A		13,191		38,463
Japan Post Bank Co., Ltd.		3,855		35,601
JPMorgan Chase & Co.		15,955		1,436,429
KBC Group NV		3,064		139,029
KeyCorp		4,965		51,487
Lloyds Banking Group PLC		821,886		321,317
M&T Bank Corp.		665		68,781
Mebuki Financial Group, Inc.		16,800		34,076
Mediobanca Banca di Credito Finanziario SpA		12,965		70,700
Mitsubishi UFJ Financial Group, Inc.		135,900		508,477
Mizrahi Tefahot Bank Ltd.		1,057		19,455
Mizuho Financial Group, Inc.		273,362		313,623
National Australia Bank Ltd.		33,042		338,941
Nordea Bank Abp		29,390		165,331
Oversea-Chinese Banking Corp., Ltd.		37,153		225,107
People’s United Financial, Inc.		2,175		24,034
PNC Financial Services Group, Inc. (The)		2,180		208,670
Raiffeisen Bank International AG		1,307		18,800
Regions Financial Corp.		4,815		43,191
Resona Holdings, Inc.		21,000		62,964
Royal Bank of Scotland Group PLC		53,666		73,999
Seven Bank Ltd.		16,218		41,856
Shinsei Bank Ltd.		3,700		49,006
Shizuoka Bank Ltd. (The)		4,000		24,287
Skandinaviska Enskilda Banken AB - Class A		16,190		108,425
Societe Generale SA		9,446		154,746
Standard Chartered PLC		34,982		193,408
Sumitomo Mitsui Financial Group, Inc.		15,240		370,231
Sumitomo Mitsui Trust Holdings, Inc.		3,200		91,937
SVB Financial Group(a)		236		35,655
Svenska Handelsbanken AB - Class A		14,254		117,554
Swedbank AB - Class A		8,621		95,083
Truist Financial Corp.		6,798		209,650
UniCredit SpA		17,422		134,787
United Overseas Bank Ltd.		12,000		164,640
US Bancorp		7,205		248,212
Wells Fargo & Co.		19,495		559,507
Westpac Banking Corp.		38,249		392,848
Zions Bancorp NA		830		22,211
				14,491,950
Capital Markets – 1.3%
3i Group PLC		9,721		94,193
Ameriprise Financial, Inc.		645		66,100
Amundi SA(b)		1,517		87,773
ASX Ltd.		2,413		113,268
Bank of New York Mellon Corp. (The)		4,215		141,961
BlackRock, Inc. - Class A		677		297,860
Cboe Global Markets, Inc.		496		44,268
Charles Schwab Corp. (The)		5,740		192,979
CME Group, Inc. - Class A		1,850		319,883
Credit Suisse Group AG(a)		28,090		226,724
Daiwa Securities Group, Inc.		16,000		61,829
Deutsche Bank AG		19,693		125,190
Deutsche Boerse AG		2,077		285,346
E*TRADE Financial Corp.		1,070		36,722

Company	Shares		U.S. $ Value
Franklin Resources, Inc.		1,340	$	22,365
Goldman Sachs Group, Inc. (The)		1,638		253,218
Hargreaves Lansdown PLC		4,023		68,354
Hong Kong Exchanges & Clearing Ltd.		13,451		402,983
Intercontinental Exchange, Inc.		2,800		226,100
Invesco Ltd.		1,880		17,070
Japan Exchange Group, Inc.		4,965		87,130
Julius Baer Group Ltd.(a)		2,130		71,350
London Stock Exchange Group PLC		3,987		356,660
Macquarie Group Ltd.		3,705		197,321
Magellan Financial Group Ltd.		1,420		37,661
MarketAxess Holdings, Inc.		260		86,468
Moody’s Corp.		845		178,717
Morgan Stanley		6,160		209,440
MSCI, Inc. - Class A		457		132,055
Nasdaq, Inc.		510		48,424
Natixis SA		21,759		69,286
Nomura Holdings, Inc.		38,855		163,972
Northern Trust Corp.		1,010		76,215
Partners Group Holding AG		231		158,158
Raymond James Financial, Inc.		559		35,329
S&P Global, Inc.		1,300		318,565
SBI Holdings, Inc./Japan		2,468		35,960
Schroders PLC		1,291		39,468
Singapore Exchange Ltd.		21,000		135,249
St. James’s Place PLC		4,994		46,634
Standard Life Aberdeen PLC		24,984		68,951
State Street Corp.		1,765		94,022
T. Rowe Price Group, Inc.		1,175		114,739
UBS Group AG(a)		42,353		388,212
				6,234,172
Consumer Finance – 0.1%
Acom Co., Ltd.		13,014		52,849
American Express Co.		3,400		291,074
Capital One Financial Corp.		2,353		118,638
Credit Saison Co., Ltd.		3,500		40,606
Discover Financial Services		1,560		55,645
Isracard Ltd.		0		1
Synchrony Financial		2,778		44,698
				603,511
Diversified Financial Services – 0.6%
AMP Ltd.(a)		67,589		55,196
Berkshire Hathaway, Inc. - Class B(a)		9,934		1,816,233
Challenger Ltd.		12,809		31,288
EXOR NV		3,679		189,612
Groupe Bruxelles Lambert SA		768		60,427
IHS Markit Ltd.		2,011		120,660
Industrivarden AB - Class C		4,979		95,335
Investor AB - Class B		4,336		195,613
Kinnevik AB - Class B		4,676		76,263
M&G PLC(a)		30,322		42,178
Mitsubishi UFJ Lease & Finance Co., Ltd.		7,362		36,035
ORIX Corp.		14,110		168,342
Pargesa Holding SA		1,023		67,542
Wendel SA		844		66,975
				3,021,699

Company	Shares		U.S. $ Value
Insurance – 1.8%
Admiral Group PLC		2,010	$	55,356
Aegon NV		38,312		95,680
Aflac, Inc.		3,690		126,346
Ageas		2,085		86,886
AIA Group Ltd.		138,549		1,240,656
Allianz SE		4,871		829,519
Allstate Corp. (The)		1,650		151,354
American International Group, Inc.		4,333		105,075
Aon PLC/UK		1,175		193,922
Arthur J Gallagher & Co.		952		77,598
Assicurazioni Generali SpA		11,115		150,550
Assurant, Inc.		260		27,063
Aviva PLC		43,251		142,199
Baloise Holding AG		926		120,724
Chubb Ltd.		2,312		258,227
Cincinnati Financial Corp.		710		53,569
CNP Assurances		8,285		80,220
Dai-ichi Life Holdings, Inc.		11,850		140,720
Direct Line Insurance Group PLC		13,089		47,784
Everest Re Group Ltd.		244		46,950
Gjensidige Forsikring ASA		3,690		62,838
Globe Life, Inc.		452		32,530
Hannover Rueck SE		795		112,258
Hartford Financial Services Group, Inc. (The)		1,765		62,199
Insurance Australia Group Ltd.		22,589		85,229
Japan Post Holdings Co., Ltd.		16,700		130,638
Japan Post Insurance Co., Ltd.		1,829		22,597
Legal & General Group PLC		63,405		149,807
Lincoln National Corp.		940		24,741
Loews Corp.		1,240		43,189
Mapfre SA		17,737		30,089
Marsh & McLennan Cos., Inc.		2,520		217,879
Medibank Pvt Ltd.		39,307		64,641
MetLife, Inc.		3,890		118,917
MS&AD Insurance Group Holdings, Inc.		4,800		133,925
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		1,588		319,299
NN Group NV		7,137		193,953
Principal Financial Group, Inc.		1,290		40,429
Progressive Corp. (The)		2,915		215,244
Prudential Financial, Inc.		1,955		101,934
Prudential PLC		30,322		379,930
QBE Insurance Group Ltd.		13,053		67,993
RSA Insurance Group PLC		10,859		56,667
Sampo Oyj - Class A		4,765		137,465
SCOR SE		3,333		73,330
Sompo Holdings, Inc.		4,000		123,296
Sony Financial Holdings, Inc.		4,130		69,350
Suncorp Group Ltd.		11,891		66,034
Swiss Life Holding AG		342		114,791
Swiss Re AG		3,176		244,549
T&D Holdings, Inc.		5,500		44,586
Tokio Marine Holdings, Inc.		7,300		334,008
Travelers Cos., Inc. (The)		1,290		128,161
Tryg A/S		1,821		44,323
Unum Group		990		14,860
Willis Towers Watson PLC		687		116,687
WR Berkley Corp.		734		38,293

Company	Shares		U.S. $ Value
Zurich Insurance Group AG		1,604	$	563,496
				8,810,553
				33,161,885
Industrials – 5.5%
Aerospace & Defense – 0.7%
Airbus SE		6,243		402,560
Arconic, Inc.		1,616		25,953
BAE Systems PLC		36,720		235,927
Boeing Co. (The)		2,680		399,695
Dassault Aviation SA		41		33,669
Elbit Systems Ltd.		250		32,397
General Dynamics Corp.		1,150		152,157
Huntington Ingalls Industries, Inc.		179		32,616
L3Harris Technologies, Inc.		1,157		208,399
Leonardo SpA		5,271		34,847
Lockheed Martin Corp.		1,310		444,024
Meggitt PLC		10,854		39,017
MTU Aero Engines AG		579		83,722
Northrop Grumman Corp.		870		263,218
Raytheon Co.		1,390		182,298
Rolls-Royce Holdings PLC(a)		19,591		82,800
Safran SA		3,586		317,709
Singapore Technologies Engineering Ltd.		43,000		94,077
Textron, Inc.		1,105		29,470
Thales SA		1,184		98,054
TransDigm Group, Inc.		313		100,219
United Technologies Corp.		4,125		389,111
				3,681,939
Air Freight & Logistics – 0.3%
CH Robinson Worldwide, Inc.		615		40,713
Deutsche Post AG		10,803		289,613
DSV PANALPINA A/S		2,516		228,778
Expeditors International of Washington, Inc.		820		54,710
FedEx Corp.		1,165		141,268
Kuehne & Nagel International AG		477		64,977
SG Holdings Co., Ltd.		2,174		51,781
United Parcel Service, Inc. - Class B		3,565		333,042
Yamato Holdings Co., Ltd.		3,400		53,112
				1,257,994
Airlines – 0.1%
Alaska Air Group, Inc.		543		15,459
American Airlines Group, Inc.(c)		1,932		23,551
ANA Holdings, Inc.		1,007		24,534
Delta Air Lines, Inc.		2,892		82,509
Deutsche Lufthansa AG		3,330		31,146
easyJet PLC		2,320		16,077
Japan Airlines Co., Ltd.		2,921		53,680
Qantas Airways Ltd.		11,303		21,991
Singapore Airlines Ltd.		14,000		56,828
Southwest Airlines Co.		2,405		85,642
United Airlines Holdings, Inc.(a)		1,072		33,822
				445,239

Company	Shares		U.S. $ Value
Building Products – 0.3%
AGC, Inc./Japan		2,000	$	48,735
Allegion PLC		485		44,630
AO Smith Corp.		655		24,765
Assa Abloy AB - Class B		9,541		178,118
Cie de Saint-Gobain		4,539		108,915
Daikin Industries Ltd.		2,774		334,861
Fortune Brands Home & Security, Inc.		621		26,858
Geberit AG		360		157,745
Johnson Controls International PLC		3,892		104,928
Kingspan Group PLC		1,858		100,192
LIXIL Group Corp.		2,500		30,803
Masco Corp.		1,385		47,879
TOTO Ltd.		1,522		50,208
				1,258,637
Commercial Services & Supplies – 0.2%
Brambles Ltd.		15,030		97,150
Cintas Corp.		435		75,351
Copart, Inc.(a)		941		64,477
Dai Nippon Printing Co., Ltd.		2,500		53,128
G4S PLC		17,154		19,511
Park24 Co., Ltd.		1,300		19,164
Rentokil Initial PLC		20,957		100,090
Republic Services, Inc. - Class A		1,000		75,060
Rollins, Inc.(c)		654		23,636
Secom Co., Ltd.		2,338		193,372
Sohgo Security Services Co., Ltd.		1,000		48,539
Toppan Printing Co., Ltd.		2,500		38,170
Waste Management, Inc.		1,915		177,252
				984,900
Construction & Engineering – 0.3%
ACS Actividades de Construccion y Servicios SA		2,819		55,984
Bouygues SA		1,739		50,468
CIMIC Group Ltd.		2,988		42,320
Eiffage SA		1,102		78,224
Epiroc AB - Class A		16,027		158,370
Epiroc AB - Class B		3,579		35,277
Ferrovial SA		4,946		117,402
HOCHTIEF AG		422		27,708
Jacobs Engineering Group, Inc.		665		52,715
JGC Holdings Corp.		4,000		31,928
Kajima Corp.		3,500		35,775
Obayashi Corp.		6,000		50,913
Quanta Services, Inc.		665		21,101
Shimizu Corp.		4,000		31,127
Skanska AB - Class B		8,587		129,227
Taisei Corp.		2,000		60,996
Vinci SA		5,456		445,806
				1,425,341
Electrical Equipment – 0.5%
ABB Ltd.		20,970		364,480
AMETEK, Inc.		1,099		79,150
Eaton Corp. PLC		2,014		156,468
Emerson Electric Co.		3,040		144,856
Fuji Electric Co., Ltd.		2,800		62,783
Legrand SA		2,541		162,070

Company	Shares		U.S. $ Value
Melrose Industries PLC		52,623	$	58,477
Mitsubishi Electric Corp.		21,000		256,540
Nidec Corp.		5,134		264,578
Prysmian SpA		1,074		17,052
Rockwell Automation, Inc.		630		95,073
Schneider Electric SE		6,098		515,420
Siemens Gamesa Renewable Energy SA		2,259		33,334
Vestas Wind Systems A/S		2,133		173,553
				2,383,834
Industrial Conglomerates – 0.6%
3M Co.		2,875		392,466
CK Hutchison Holdings Ltd.		25,840		172,228
DCC PLC		1,216		75,941
General Electric Co.		44,379		352,369
Honeywell International, Inc.		3,645		487,665
Jardine Matheson Holdings Ltd.		2,300		115,763
Jardine Strategic Holdings Ltd.		2,005		44,809
Keihan Holdings Co., Ltd.		1,000		44,357
Keppel Corp., Ltd.		13,000		48,351
NWS Holdings Ltd.		37,000		37,706
Roper Technologies, Inc.		595		185,527
Siemens AG		8,669		725,899
Smiths Group PLC		3,761		56,705
Toshiba Corp.		7,200		157,812
				2,897,598
Machinery – 1.0%
Alfa Laval AB		3,778		64,683
Alstom SA		3,502		144,605
Amada Holdings Co., Ltd.		3,000		23,514
ANDRITZ AG		693		21,711
Atlas Copco AB - Class A		6,392		212,561
Atlas Copco AB - Class B		3,579		104,111
Caterpillar, Inc.		2,755		319,690
CNH Industrial NV		22,634		128,907
Cummins, Inc.		800		108,256
Daifuku Co., Ltd.		1,030		64,548
Deere & Co.		1,605		221,747
Dover Corp.		685		57,499
FANUC Corp.		2,100		280,614
Flowserve Corp.		610		14,573
Fortive Corp.		1,420		78,370
GEA Group AG		1,741		35,965
Hino Motors Ltd.		6,000		31,999
Hitachi Construction Machinery Co., Ltd.		3,000		60,168
Hoshizaki Corp.		400		29,921
IDEX Corp.		372		51,377
IHI Corp.		2,600		30,279
Illinois Tool Works, Inc.		1,515		215,312
Ingersoll Rand, Inc.(a)		1,669		41,391
Kawasaki Heavy Industries Ltd.		3,337		48,012
KION Group AG		1,747		75,187
Knorr-Bremse AG		473		41,584
Komatsu Ltd.		9,800		158,597
Kone Oyj - Class B		3,896		218,179
Kubota Corp.		11,872		151,000
Kurita Water Industries Ltd.		1,200		27,531
Makita Corp.		2,200		67,108

Company	Shares		U.S. $ Value
Metso Oyj		1,073	$	25,286
MINEBEA MITSUMI, Inc.		4,131		61,017
MISUMI Group, Inc.		2,900		62,730
Mitsubishi Heavy Industries Ltd.		3,100		78,126
Nabtesco Corp.		1,000		22,875
NGK Insulators Ltd.		2,000		26,030
NSK Ltd.		4,719		30,037
PACCAR, Inc.		1,710		104,532
Parker-Hannifin Corp.		695		90,162
Pentair PLC		780		23,213
Sandvik AB		12,165		171,121
Schindler Holding AG		413		90,355
Schindler Holding AG (REG)		575		120,389
SKF AB - Class B		4,700		64,048
SMC Corp./Japan		600		251,546
Snap-on, Inc.		220		23,940
Spirax-Sarco Engineering PLC		834		83,728
Stanley Black & Decker, Inc.		715		71,500
Sumitomo Heavy Industries Ltd.		1,200		21,470
Techtronic Industries Co., Ltd.		13,454		85,432
THK Co., Ltd.		1,531		30,848
Trane Technologies PLC		1,225		101,173
Volvo AB - Class B		14,676		174,438
Wartsila Oyj Abp		4,224		30,846
Weir Group PLC (The)		2,037		18,117
Westinghouse Air Brake Technologies Corp.		915		44,039
Xylem, Inc./NY		885		57,640
Yangzijiang Shipbuilding Holdings Ltd.		56,331		32,685
				5,126,322
Marine – 0.0%
AP Moller - Maersk A/S - Class A		70		57,492
AP Moller - Maersk A/S - Class B		68		60,273
Mitsui OSK Lines Ltd.		1,200		19,234
Nippon Yusen KK		3,100		36,616
				173,615
Professional Services – 0.5%
Adecco Group AG		1,673		65,927
Bureau Veritas SA		3,094		58,318
Equifax, Inc.		555		66,295
Experian PLC		10,230		284,305
Intertek Group PLC		1,990		116,266
Nielsen Holdings PLC		1,766		22,146
Persol Holdings Co., Ltd.		2,583		25,846
Randstad NV		1,613		56,926
Recruit Holdings Co., Ltd.		15,153		391,421
RELX PLC (London)		22,241		474,677
Robert Half International, Inc.		585		22,084
SEEK Ltd.		4,101		37,476
SGS SA		52		119,937
Teleperformance		655		135,661
Verisk Analytics, Inc. - Class A		800		111,504
Wolters Kluwer NV		5,568		394,126
				2,382,915
Road & Rail – 0.5%
Aurizon Holdings Ltd.		22,082		57,227
Central Japan Railway Co.		1,537		246,337

Company	Shares		U.S. $ Value
CSX Corp.		3,880	$	222,324
East Japan Railway Co.		3,600		272,413
Hankyu Hanshin Holdings, Inc.		2,200		73,909
JB Hunt Transport Services, Inc.		403		37,169
Kansas City Southern		520		66,134
Keikyu Corp.		2,000		33,649
Keio Corp.		1,200		70,840
Keisei Electric Railway Co., Ltd.		1,465		42,336
Kintetsu Group Holdings Co., Ltd.		1,700		78,680
Kyushu Railway Co.		1,722		49,465
MTR Corp., Ltd.		15,500		79,726
Nagoya Railroad Co., Ltd.		1,800		50,608
Nippon Express Co., Ltd.		1,200		58,535
Norfolk Southern Corp.		1,320		192,720
Odakyu Electric Railway Co., Ltd.		3,000		65,884
Old Dominion Freight Line, Inc.		454		59,526
Seibu Holdings, Inc.		3,142		34,635
Tobu Railway Co., Ltd.		2,165		75,530
Tokyu Corp.		5,000		78,572
Union Pacific Corp.		3,540		499,282
West Japan Railway Co.		1,568		107,243
				2,552,744
Trading Companies & Distributors – 0.4%
AerCap Holdings NV(a)		1,409		32,111
Ashtead Group PLC		5,697		123,135
Brenntag AG		1,471		53,445
Bunzl PLC		3,191		63,873
Fastenal Co.		2,830		88,437
Ferguson PLC		2,936		181,540
ITOCHU Corp.		16,000		331,114
Marubeni Corp.		16,000		79,409
Mitsubishi Corp.		16,100		340,551
Mitsui & Co., Ltd.		18,200		252,683
MonotaRO Co., Ltd.		2,090		55,221
Sumitomo Corp.		13,465		153,558
Toyota Tsusho Corp.		2,300		53,727
United Rentals, Inc.(a)		400		41,160
WW Grainger, Inc.		280		69,580
				1,919,544
Transportation Infrastructure – 0.1%
Aena SME SA(b)		780		84,626
Aeroports de Paris		1,000		96,606
Atlantia SpA		3,639		45,205
Auckland International Airport Ltd.		10,521		31,350
Getlink SE		6,892		83,356
Japan Airport Terminal Co., Ltd.		1,196		45,964
Kamigumi Co., Ltd.		1,500		25,319
Sydney Airport		8,828		30,502
Transurban Group		30,317		225,820
				668,748
				27,159,370
Consumer Discretionary – 5.1%
Auto Components – 0.3%
Aisin Seiki Co., Ltd.		1,800		44,084
Aptiv PLC		1,291		63,569

Company	Shares		U.S. $ Value
BorgWarner, Inc.		1,020	$	24,857
Bridgestone Corp.		6,900		211,213
Cie Generale des Etablissements Michelin SCA - Class B		1,732		151,697
Continental AG		1,047		74,649
Denso Corp.		5,200		166,163
Faurecia SE		1,635		47,875
JTEKT Corp.		4,300		29,042
Koito Manufacturing Co., Ltd.		1,000		33,619
NGK Spark Plug Co., Ltd.		3,000		42,052
Nokian Renkaat Oyj		1,090		26,027
Stanley Electric Co., Ltd.		1,600		31,406
Sumitomo Electric Industries Ltd.		7,200		75,226
Sumitomo Rubber Industries Ltd.		4,100		38,511
Toyota Industries Corp.		1,600		76,288
Valeo SA		2,277		37,060
Yokohama Rubber Co., Ltd. (The)		1,000		12,397
				1,185,735
Automobiles – 0.8%
Bayerische Motoren Werke AG		3,152		160,907
Bayerische Motoren Werke AG (Preference Shares)		885		37,529
Daimler AG		10,262		306,466
Ferrari NV		1,527		235,211
Fiat Chrysler Automobiles NV		14,140		100,942
Ford Motor Co.		19,770		95,489
General Motors Co.		6,386		132,701
Harley-Davidson, Inc.(c)		690		13,062
Honda Motor Co., Ltd.		18,521		414,434
Isuzu Motors Ltd.		5,500		36,398
Mazda Motor Corp.		5,200		27,460
Mitsubishi Motors Corp.		11,400		32,120
Nissan Motor Co., Ltd.		26,300		87,992
Peugeot SA		7,475		97,319
Porsche Automobil Holding SE (Preference Shares)		1,458		60,945
Renault SA		1,830		34,779
Subaru Corp.		6,000		114,691
Suzuki Motor Corp.		4,173		99,364
Toyota Motor Corp.		25,884		1,559,896
Volkswagen AG		630		82,655
Volkswagen AG (Preference Shares)		2,067		238,111
Yamaha Motor Co., Ltd.		2,700		32,467
				4,000,938
Distributors – 0.0%
Genuine Parts Co.		710		47,805
LKQ Corp.(a)		1,514		31,052
				78,857
Diversified Consumer Services – 0.0%
Benesse Holdings, Inc.		300		7,634
H&R Block, Inc.		960		13,517
				21,151
Hotels, Restaurants & Leisure – 0.7%
Accor SA		2,705		72,673

Company	Shares		U.S. $ Value
Aristocrat Leisure Ltd.		4,876	$	63,181
Carnival Corp.		1,955		25,747
Carnival PLC		2,273		27,130
Chipotle Mexican Grill, Inc. - Class A(a)		154		100,778
Compass Group PLC		17,973		280,021
Crown Resorts Ltd.		9,430		43,762
Darden Restaurants, Inc.		570		31,042
Flutter Entertainment PLC		1,060		95,350
Galaxy Entertainment Group Ltd.		20,155		106,153
Genting Singapore Ltd.		92,000		44,598
GVC Holdings PLC		5,872		40,674
Hilton Worldwide Holdings, Inc.		1,366		93,216
InterContinental Hotels Group PLC		1,950		82,959
Las Vegas Sands Corp.		1,647		69,948
Marriott International, Inc./MD - Class A		1,371		102,565
McDonald’s Corp.		3,850		636,597
McDonald’s Holdings Co. Japan Ltd.		2,200		99,224
Melco Resorts & Entertainment Ltd. (ADR)		2,438		30,231
MGM Resorts International		2,540		29,972
Norwegian Cruise Line Holdings Ltd.(a)		1,031		11,300
Oriental Land Co., Ltd./Japan		2,100		268,080
Royal Caribbean Cruises Ltd.(c)		777		24,996
Sands China Ltd.		39,744		144,592
Sodexo SA		1,005		67,491
Starbucks Corp.		5,991		393,848
Tabcorp Holdings Ltd.		26,623		41,202
TUI AG		4,841		21,189
Whitbread PLC		2,125		78,756
Wynn Macau Ltd.		77,455		116,160
Wynn Resorts Ltd.		410		24,678
Yum! Brands, Inc.		1,515		103,823
				3,371,936
Household Durables – 0.4%
Barratt Developments PLC		11,885		64,242
Berkeley Group Holdings PLC		1,236		55,167
Casio Computer Co., Ltd.		3,415		47,780
DR Horton, Inc.		1,685		57,290
Electrolux AB - Class B		2,430		30,019
Garmin Ltd.		720		53,971
Husqvarna AB - Class B		8,194		40,763
Iida Group Holdings Co., Ltd.		2,902		40,109
Leggett & Platt, Inc.		575		15,341
Lennar Corp. - Class A		1,350		51,570
Mohawk Industries, Inc.(a)		250		19,060
Newell Brands, Inc.		1,925		25,564
Nikon Corp.		3,200		29,371
NVR, Inc.(a)		20		51,382
Panasonic Corp.		23,500		177,905
Persimmon PLC		3,527		83,374
PulteGroup, Inc.		1,215		27,119
Rinnai Corp.		700		49,343
SEB SA		568		70,350
Sekisui Chemical Co., Ltd.		4,000		52,696
Sekisui House Ltd.		6,000		98,952
Sharp Corp./Japan		4,999		51,892
Sony Corp.		14,135		837,266
Taylor Wimpey PLC		31,025		44,644

Company	Shares		U.S. $ Value
Whirlpool Corp.(c)		300	$	25,740
				2,100,910
Internet & Direct Marketing Retail – 1.1%
Amazon.com, Inc.(a)		2,170		4,230,893
Booking Holdings, Inc.(a)		257		345,747
Delivery Hero SE(a) (b)		1,586		116,609
eBay, Inc.		3,815		114,679
Expedia Group, Inc.		632		35,563
Just Eat Takeaway(a) (b)		1,322		99,973
Ocado Group PLC(a)		5,151		77,266
Prosus NV(a)		5,572		388,079
Rakuten, Inc.		8,852		66,736
Zalando SE(a) (b)		2,021		76,172
ZOZO, Inc.		2,592		34,788
				5,586,505
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		1,900		92,156
Hasbro, Inc.		600		42,930
Sankyo Co., Ltd.		300		8,700
Shimano, Inc.		700		99,829
Yamaha Corp.		1,600		62,009
				305,624
Multiline Retail – 0.2%
Dollar General Corp.		1,260		190,273
Dollar Tree, Inc.(a)		1,138		83,609
Harvey Norman Holdings Ltd.		14,257		26,178
Isetan Mitsukoshi Holdings Ltd.		2,200		12,764
J Front Retailing Co., Ltd.		3,500		28,887
Kohl’s Corp.		780		11,380
Macy’s, Inc.(c)		1,565		7,684
Marks & Spencer Group PLC		15,442		18,719
Marui Group Co., Ltd.		3,300		55,205
Next PLC		1,643		82,427
Nordstrom, Inc.(c)		520		7,977
Pan Pacific International Holdings Corp.		4,000		75,749
Ryohin Keikaku Co., Ltd.		2,570		28,580
Target Corp.		2,515		233,819
Wesfarmers Ltd.		12,002		254,325
				1,117,576
Specialty Retail – 0.7%
ABC-Mart, Inc.		500		25,024
Advance Auto Parts, Inc.		331		30,889
AutoZone, Inc.(a)		155		131,130
Best Buy Co., Inc.		1,100		62,700
CarMax, Inc.(a) (c)		820		44,141
Fast Retailing Co., Ltd.		641		261,555
Gap, Inc. (The)		1,005		7,075
Hennes & Mauritz AB - Class B		9,038		115,657
Hikari Tsushin, Inc.		500		83,666
Home Depot, Inc. (The)		5,570		1,039,975
Industria de Diseno Textil SA		12,502		323,972

Company	Shares		U.S. $ Value
JD Sports Fashion PLC		5,019	$	28,110
Kingfisher PLC		29,522		51,856
L Brands, Inc.(c)		1,125		13,005
Lowe’s Cos., Inc.		3,860		332,153
Nitori Holdings Co., Ltd.		750		101,356
O’Reilly Automotive, Inc.(a)		390		117,410
Ross Stores, Inc.		1,850		160,894
Shimamura Co., Ltd.		200		12,087
Tiffany & Co.		555		71,873
TJX Cos., Inc. (The)		6,090		291,163
Tractor Supply Co.		515		43,543
Ulta Beauty, Inc.(a)		252		44,276
USS Co., Ltd.		4,120		56,495
Yamada Denki Co., Ltd.		10,990		43,773
				3,493,778
Textiles, Apparel & Luxury Goods – 0.8%
adidas AG		2,040		452,936
Burberry Group PLC		4,236		68,855
Capri Holdings Ltd.(a)		749		8,082
Cie Financiere Richemont SA		5,585		298,540
EssilorLuxottica SA		3,192		337,952
Hanesbrands, Inc.(c)		1,747		13,749
Hermes International		281		191,195
Kering SA		859		447,893
LVMH Moet Hennessy Louis Vuitton SE		3,148		1,154,532
Moncler SpA		2,123		77,147
NIKE, Inc. - Class B		6,250		517,125
Pandora A/S		1,106		35,537
Puma SE		1,420		83,432
PVH Corp.		345		12,986
Ralph Lauren Corp.		190		12,698
Swatch Group AG (The)		294		57,741
Swatch Group AG (The) (REG)		1,834		71,003
Tapestry, Inc.		1,380		17,871
Under Armour, Inc. - Class A(a)		927		8,538
Under Armour, Inc. - Class C(a)		904		7,286
VF Corp.		1,650		89,232
				3,964,330
				25,227,340
Consumer Staples – 5.0%
Beverages – 1.0%
Anheuser-Busch InBev SA/NV		8,733		385,735
Asahi Group Holdings Ltd.		3,700		120,040
Brown-Forman Corp. - Class B		892		49,515
Budweiser Brewing Co. APAC Ltd.(a)(b)		14,000		36,004
Carlsberg A/S - Class B		1,051		118,321
Coca-Cola Amatil Ltd.		14,439		77,931
Coca-Cola Bottlers Japan Holdings, Inc.		1,300		26,681
Coca-Cola Co. (The)		19,520		863,760
Coca-Cola European Partners PLC		2,647		99,342
Coca-Cola HBC AG		1,928		41,348
Constellation Brands, Inc. - Class A		820		117,555
Diageo PLC		27,623		875,912
Heineken Holding NV		1,000		77,928
Heineken NV		2,500		212,160

Company	Shares		U.S. $ Value
Kirin Holdings Co., Ltd.		9,345	$	184,566
Molson Coors Beverage Co. - Class B		950		37,060
Monster Beverage Corp.(a)		1,920		108,019
PepsiCo, Inc.		7,075		849,708
Pernod Ricard SA		2,406		341,498
Remy Cointreau SA		1,062		115,746
Suntory Beverage & Food Ltd.		1,324		50,033
Treasury Wine Estates Ltd.		6,024		37,400
				4,826,262
Food & Staples Retailing – 0.8%
Aeon Co., Ltd.		6,200		137,355
Carrefour SA		5,903		93,588
Casino Guichard Perrachon SA		1,228		46,996
Coles Group Ltd.		12,002		111,775
Colruyt SA		417		22,605
Costco Wholesale Corp.		2,315		660,076
Dairy Farm International Holdings Ltd.		7,381		33,949
FamilyMart Co., Ltd.		3,200		57,459
ICA Gruppen AB		2,462		102,826
J Sainsbury PLC		18,022		46,630
Jeronimo Martins SGPS SA		2,405		43,408
Koninklijke Ahold Delhaize NV		9,852		229,518
Kroger Co. (The)		4,020		121,082
Lawson, Inc.		600		32,934
METRO AG		7,593		64,671
Seven & i Holdings Co., Ltd.		8,000		264,199
Sundrug Co., Ltd.		1,000		32,044
Sysco Corp.		2,525		115,216
Tesco PLC		116,321		328,494
Tsuruha Holdings, Inc.		600		79,108
Walgreens Boots Alliance, Inc.		3,775		172,706
Walmart, Inc.		7,163		813,860
Welcia Holdings Co., Ltd.		796		55,892
Wm Morrison Supermarkets PLC		31,098		67,938
Woolworths Group Ltd.		14,003		304,514
				4,038,843
Food Products – 1.4%
a2 Milk Co., Ltd.(a)		8,040		82,133
Ajinomoto Co., Inc.		5,000		93,172
Archer-Daniels-Midland Co.		2,825		99,383
Associated British Foods PLC		3,965		88,815
Barry Callebaut AG		91		182,141
Calbee, Inc.		1,315		35,488
Campbell Soup Co.		775		35,774
Chocoladefabriken Lindt & Spruengli AG (REG)		1		86,794
Conagra Brands, Inc.		2,465		72,323
Danone SA		6,291		402,612
General Mills, Inc.		3,005		158,574
Hershey Co. (The)		750		99,375
Hormel Foods Corp.		1,350		62,964
JM Smucker Co. (The)		595		66,045
Kellogg Co.		1,215		72,888
Kerry Group PLC - Class A		1,906		221,144
Kikkoman Corp.		1,619		68,645
Kraft Heinz Co. (The)		3,128		77,387
Lamb Weston Holdings, Inc.		690		39,399
McCormick & Co., Inc./MD		575		81,196

Company	Shares		U.S. $ Value
MEIJI Holdings Co., Ltd.		1,100	$	77,953
Mondelez International, Inc. - Class A		7,295		365,334
Mowi ASA		4,327		65,422
Nestle SA		34,710		3,553,186
NH Foods Ltd.		933		32,469
Nisshin Seifun Group, Inc.		4,000		66,729
Nissin Foods Holdings Co., Ltd.		1,200		99,584
Orkla ASA		10,095		86,491
Toyo Suisan Kaisha Ltd.		1,000		48,332
Tyson Foods, Inc. - Class A		1,425		82,465
WH Group Ltd.(b)		157,321		145,208
Wilmar International Ltd.		26,000		58,797
Yakult Honsha Co., Ltd.		1,333		78,527
Yamazaki Baking Co., Ltd.		59		1,230
				6,887,979
Household Products – 0.7%
Church & Dwight Co., Inc.		1,226		78,685
Clorox Co. (The)		670		116,077
Colgate-Palmolive Co.		4,280		284,021
Essity AB - Class B		4,979		152,524
Henkel AG & Co. KGaA		989		72,650
Henkel AG & Co. KGaA (Preference Shares)		1,696		135,649
Kimberly-Clark Corp.		1,755		224,412
Lion Corp.		2,000		42,652
Pigeon Corp.		1,287		49,273
Procter & Gamble Co. (The)		12,670		1,393,700
Reckitt Benckiser Group PLC		8,017		610,700
Unicharm Corp.		3,800		142,249
				3,302,592
Personal Products – 0.6%
Beiersdorf AG		1,051		105,826
Coty, Inc. - Class A		1,462		7,544
Estee Lauder Cos., Inc. (The) - Class A		1,140		181,648
Kao Corp.		5,400		439,928
Kobayashi Pharmaceutical Co., Ltd.		809		74,849
Kose Corp.		500		61,871
L’Oreal SA		2,700		698,789
Pola Orbis Holdings, Inc.		1,800		33,092
Shiseido Co., Ltd.		4,533		266,415
Unilever NV		15,507		762,188
Unilever PLC		12,594		635,118
				3,267,268
Tobacco – 0.5%
Altria Group, Inc.		9,440		365,045
British American Tobacco PLC		26,574		905,250
Imperial Brands PLC		10,218		188,577
Japan Tobacco, Inc.		13,598		251,518
Philip Morris International, Inc.		7,850		572,736
Swedish Match AB		2,884		163,291
				2,446,417
				24,769,361
Communication Services – 3.9%
Diversified Telecommunication Services – 1.3%
AT&T, Inc.		37,077		1,080,795

Company	Shares		U.S. $ Value
BT Group PLC		101,334	$	147,397
Cellnex Telecom SA(b)		2,840		128,829
CenturyLink, Inc.		4,912		46,468
Charter Communications, Inc. - Class A(a)		793		345,994
Comcast Corp. - Class A		23,052		792,528
Deutsche Telekom AG		37,770		487,815
Elisa Oyj		1,354		83,573
Eurazeo SE		1,509		67,708
Eutelsat Communications SA		3,140		32,641
HKT Trust & HKT Ltd. - Class SS		55,098		74,936
Iliad SA		714		96,200
Koninklijke KPN NV		28,755		68,765
Nippon Telegraph & Telephone Corp.		14,800		353,966
Orange SA		18,911		228,964
Proximus SADP		1,568		36,008
Singapore Telecommunications Ltd.		76,000		135,487
Spark New Zealand Ltd.		17,417		42,389
Swisscom AG		247		132,264
Telecom Italia SpA/Milano(a)		150,129		60,768
Telefonica Deutschland Holding AG		17,113		42,014
Telefonica SA		52,707		239,874
Telenet Group Holding NV		715		21,470
Telenor ASA		7,146		104,444
Telia Co. AB		24,258		86,829
Telstra Corp., Ltd.		40,732		76,460
TPG Telecom Ltd.		8,880		37,818
United Internet AG		2,321		67,490
Verizon Communications, Inc.		21,005		1,128,599
Washington H Soul Pattinson & Co., Ltd.		3,258		33,666
				6,282,159
Entertainment – 0.7%
Activision Blizzard, Inc.		3,865		229,890
Bollore SA		25,929		70,465
Electronic Arts, Inc.(a)		1,415		141,741
Konami Holdings Corp.		1,300		39,874
Live Nation Entertainment, Inc.(a)(c)		716		32,549
Netflix, Inc.(a)		2,292		860,646
Nexon Co., Ltd.		5,190		84,809
Nintendo Co., Ltd.		1,284		499,031
Square Enix Holdings Co., Ltd.		633		28,280
Take-Two Interactive Software, Inc.(a)		585		69,387
Toho Co., Ltd./Tokyo		1,000		30,577
Ubisoft Entertainment SA(a)		804		58,765
Vivendi SA		11,072		234,100
Walt Disney Co. (The)		9,159		884,759
				3,264,873
Interactive Media & Services – 1.2%
Alphabet, Inc. - Class A(a)		1,609		1,869,577
Alphabet, Inc. - Class C(a)		1,544		1,795,379
Auto Trader Group PLC		9,529		51,493
Facebook, Inc. - Class A(a)		12,267		2,046,136
Kakaku.com, Inc.		3,799		69,481
LINE Corp.(a)		933		45,045
REA Group Ltd.		1,002		46,938

Company	Shares		U.S. $ Value
Twitter, Inc.(a)		3,886	$	95,440
Z Holdings Corp.		32,653		104,103
				6,123,592
Media – 0.2%
CyberAgent, Inc.		1,112		43,097
Dentsu Group, Inc.		2,100		40,576
Discovery, Inc. - Class A(a) (c)		785		15,260
Discovery, Inc. - Class C(a)		1,704		29,888
DISH Network Corp. - Class A(a)		1,206		24,108
Fox Corp. - Class A		1,750		41,353
Fox Corp. - Class B(a)		732		16,748
Hakuhodo DY Holdings, Inc.		2,490		25,124
Informa PLC		13,755		74,920
Interpublic Group of Cos., Inc. (The)		1,875		30,356
ITV PLC		44,429		36,460
JCDecaux SA		1,905		33,867
News Corp. - Class A		1,878		16,855
News Corp. - Class B		567		5,097
Omnicom Group, Inc.(c)		1,060		58,194
Pearson PLC		7,821		53,543
Publicis Groupe SA		1,801		51,471
Schibsted ASA - Class B		2,252		40,738
SES SA		4,651		27,285
Singapore Press Holdings Ltd.		29,528		38,180
ViacomCBS, Inc. - Class B		2,738		38,359
WPP PLC		13,761		93,560
				835,039
Wireless Telecommunication Services – 0.5%
KDDI Corp.		19,550		577,479
NTT DOCOMO, Inc.		14,767		461,810
Softbank Corp.		19,000		242,035
SoftBank Group Corp.		18,384		650,837
T-Mobile US, Inc.(a)		1,535		128,787
Tele2 AB - Class B		9,542		127,128
Vodafone Group PLC		306,793		424,431
				2,612,507
				19,118,170
Materials – 2.4%
Chemicals – 1.3%
Air Liquide SA		5,012		639,769
Air Products & Chemicals, Inc.		1,150		229,552
Akzo Nobel NV		3,226		212,170
Albemarle Corp.		511		28,805
Arkema SA		1,159		79,130
Asahi Kasei Corp.		12,000		84,082
BASF SE		10,527		492,052
Celanese Corp. - Class A		558		40,952
CF Industries Holdings, Inc.		1,050		28,560
Chr Hansen Holding A/S		1,460		107,737
Clariant AG		4,702		78,261
Corteva, Inc.(a)		3,806		89,441
Covestro AG(b)		1,766		53,595
Croda International PLC		1,648		86,945

Company	Shares		U.S. $ Value
Daicel Corp.		3,000	$	21,825
Dow, Inc.(a)		3,706		108,364
DuPont de Nemours, Inc.		3,766		128,421
Eastman Chemical Co.		630		29,345
Ecolab, Inc.		1,250		194,788
EMS-Chemie Holding AG		203		126,606
Evonik Industries AG		2,574		53,753
FMC Corp.		580		47,380
FUCHS PETROLUB SE (Preference Shares)		2,420		86,323
Givaudan SA		88		270,774
Hitachi Chemical Co., Ltd.		3,000		127,660
Incitec Pivot Ltd.		32,013		39,710
International Flavors & Fragrances, Inc.		501		51,115
Israel Chemicals Ltd.		9,886		31,486
Johnson Matthey PLC		1,842		40,587
JSR Corp.		800		14,622
Kansai Paint Co., Ltd.		3,000		56,904
Koninklijke DSM NV		2,026		227,902
Kuraray Co., Ltd.		3,000		30,184
LANXESS AG		1,767		70,334
Linde PLC		2,690		465,370
LyondellBasell Industries NV - Class A		1,299		64,469
Mitsubishi Chemical Holdings Corp.		13,000		77,194
Mitsubishi Gas Chemical Co., Inc.		2,500		26,977
Mitsui Chemicals, Inc.		1,600		30,115
Mosaic Co. (The)		1,760		19,043
Nippon Paint Holdings Co., Ltd.		2,000		104,104
Nissan Chemical Corp.		1,000		36,217
Nitto Denko Corp.		1,600		71,070
Novozymes A/S - Class B		2,458		110,258
Orica Ltd.		7,662		71,726
PPG Industries, Inc.		1,150		96,140
Sherwin-Williams Co. (The)		475		218,272
Shin-Etsu Chemical Co., Ltd.		4,100		402,978
Showa Denko KK		1,500		30,774
Sika AG		1,200		197,055
Solvay SA		927		66,807
Sumitomo Chemical Co., Ltd.		15,000		44,317
Symrise AG		1,178		108,975
Taiyo Nippon Sanso Corp.		3,206		47,439
Teijin Ltd.		3,000		50,745
Toray Industries, Inc.		14,000		60,599
Tosoh Corp.		3,149		35,587
Umicore SA		2,002		69,051
Yara International ASA		1,297		41,010
				6,555,426
Construction Materials – 0.2%
Boral Ltd.		17,642		22,159
CRH PLC		8,841		239,087
Fletcher Building Ltd.		8,637		17,976
HeidelbergCement AG		1,342		57,334
James Hardie Industries PLC		3,449		40,045
LafargeHolcim Ltd.(a)		5,336		194,729
Martin Marietta Materials, Inc.		377		71,340
Taiheiyo Cement Corp.		1,304		22,212
Vulcan Materials Co.		615		66,463
				731,345

Company	Shares		U.S. $ Value
Containers & Packaging – 0.1%
AMCOR PLC(a) (c)		8,143	$	66,121
Avery Dennison Corp.		435		44,313
Ball Corp.		1,610		104,103
International Paper Co.		1,975		61,482
Packaging Corp. of America		475		41,244
Sealed Air Corp.		740		18,285
Smurfit Kappa Group PLC		2,476		70,141
Toyo Seikan Group Holdings Ltd.		1,700		19,392
Westrock Co.		1,227		34,675
				459,756
Metals & Mining – 0.7%
Alumina Ltd.		28,452		25,498
Anglo American PLC		11,577		202,871
Antofagasta PLC		6,389		61,018
ArcelorMittal SA		12,535		118,336
BHP Group Ltd.		32,976		598,228
BHP Group PLC		23,519		365,007
BlueScope Steel Ltd.		6,941		36,340
Boliden AB		4,189		75,150
Evraz PLC		5,725		16,380
Fortescue Metals Group Ltd.		18,067		110,719
Freeport-McMoRan, Inc.		7,295		49,241
Glencore PLC(a)		130,406		197,376
Hitachi Metals Ltd.		5,000		52,483
JFE Holdings, Inc.		5,000		32,400
Mitsubishi Materials Corp.		2,700		55,196
Newcrest Mining Ltd.		7,017		96,362
Newmont Corp.		4,131		187,052
Nippon Steel Corp.		8,643		73,676
Norsk Hydro ASA		16,444		35,456
Nucor Corp.		1,460		52,589
Rio Tinto Ltd.		4,038		208,035
Rio Tinto PLC		13,185		604,430
South32 Ltd.		56,741		62,637
Sumitomo Metal Mining Co., Ltd.		2,500		51,111
thyssenkrupp AG(a)		3,919		20,642
voestalpine AG		1,082		21,831
				3,410,064
Paper & Forest Products – 0.1%
Mondi PLC		5,565		93,913
Oji Holdings Corp.		14,000		74,426
Stora Enso Oyj - Class R		6,056		60,553
UPM-Kymmene Oyj		5,689		155,122
				384,014
				11,540,605
Utilities – 1.9%
Electric Utilities – 1.1%
Alliant Energy Corp.		1,138		54,954
American Electric Power Co., Inc.		2,485		198,750
AusNet Services		37,398		39,268
Chubu Electric Power Co., Inc.		6,100		86,090
Chugoku Electric Power Co., Inc. (The)		4,000		55,809
CK Infrastructure Holdings Ltd.		15,000		79,408
CLP Holdings Ltd.		12,500		114,500

Company	Shares		U.S. $ Value
Duke Energy Corp.		3,642	$	294,565
Edison International		1,785		97,800
EDP - Energias de Portugal SA		29,006		116,702
Electricite de France SA		11,071		86,570
Endesa SA		3,024		63,989
Enel SpA		88,110		607,769
Entergy Corp.		975		91,621
Evergy, Inc.		1,085		59,729
Eversource Energy		1,560		122,008
Exelon Corp.		4,917		180,995
FirstEnergy Corp.		2,725		109,191
Fortum Oyj		4,947		71,964
HK Electric Investments & HK Electric Investments Ltd. - Class SS(b)		104,180		100,020
Iberdrola SA		72,102		705,230
Kansai Electric Power Co., Inc. (The)		8,491		94,513
Kyushu Electric Power Co., Inc.		4,100		32,883
Mercury NZ Ltd.		10,827		27,109
NextEra Energy, Inc.		2,535		609,972
NRG Energy, Inc.		1,260		34,348
Orsted A/S(b)		2,499		244,646
Pinnacle West Capital Corp.		485		36,758
Power Assets Holdings Ltd.		8,500		50,424
PPL Corp.		3,865		95,388
Red Electrica Corp. SA		5,707		102,552
Southern Co. (The)		5,310		287,483
SSE PLC		13,094		210,408
Terna Rete Elettrica Nazionale SpA		23,069		145,009
Tohoku Electric Power Co., Inc.		4,300		41,335
Tokyo Electric Power Co. Holdings, Inc.(a)		13,800		48,007
Verbund AG		759		27,374
Xcel Energy, Inc.		2,630		158,589
				5,583,730
Gas Utilities – 0.2%
APA Group		13,346		84,690
Atmos Energy Corp.		592		58,744
Enagas SA		2,159		42,591
Hong Kong & China Gas Co., Ltd.		96,005		157,201
Naturgy Energy Group SA		4,316		75,719
Osaka Gas Co., Ltd.		3,600		67,600
Snam SpA		26,833		122,635
Toho Gas Co., Ltd.		2,017		90,928
Tokyo Gas Co., Ltd.		3,800		89,540
				789,648
Independent Power and Renewable Electricity Producers – 0.1%
AES Corp./VA		3,325		45,220
Electric Power Development Co., Ltd.		1,600		32,067
Meridian Energy Ltd.		18,542		44,253
Uniper SE		3,660		89,901
				211,441
Multi-Utilities – 0.5%
AGL Energy Ltd.		6,423		67,219
Ameren Corp.		1,210		88,124
CenterPoint Energy, Inc.		2,455		37,930
Centrica PLC		64,140		30,222

Company	Shares		U.S. $ Value
CMS Energy Corp.		1,420	$	83,425
Consolidated Edison, Inc.		1,690		131,820
Dominion Energy, Inc.		4,170		301,032
DTE Energy Co.		920		87,372
E.ON SE		23,845		244,594
Engie SA		18,347		187,881
National Grid PLC		38,933		454,904
NiSource, Inc.		1,805		45,071
Public Service Enterprise Group, Inc.		2,545		114,296
RWE AG		5,973		156,204
Sempra Energy		1,450		163,836
Suez		5,769		58,609
United Utilities Group PLC		8,008		89,641
Veolia Environnement SA		5,882		124,233
WEC Energy Group, Inc.		1,518		133,781
				2,600,194
Water Utilities – 0.0%
American Water Works Co., Inc.		921		110,115
Severn Trent PLC		2,239		63,379
				173,494
				9,358,507
Energy – 1.6%
Energy Equipment & Services – 0.1%
Baker Hughes Co. - Class A		3,300		34,650
Halliburton Co.		4,450		30,483
Helmerich & Payne, Inc.		485		7,590
National Oilwell Varco, Inc.		1,875		18,431
Schlumberger Ltd.		6,970		94,025
TechnipFMC PLC		2,088		14,073
Tenaris SA		10,900		65,758
Worley Ltd.		4,472		16,595
				281,605
Oil, Gas & Consumable Fuels – 1.5%
Aker BP ASA		1,570		19,693
Apache Corp.		1,815		7,587
BP PLC		233,480		957,488
Cabot Oil & Gas Corp.		1,990		34,208
Caltex Australia Ltd.		3,100		41,859
Chevron Corp.		9,530		690,544
Concho Resources, Inc.		1,007		43,150
ConocoPhillips		5,530		170,324
Devon Energy Corp.		1,930		13,336
Diamondback Energy, Inc.		728		19,074
Eni SpA		24,216		240,646
EOG Resources, Inc.		2,880		103,450
Equinor ASA		12,989		161,922
Exxon Mobil Corp.		21,450		814,456
Galp Energia SGPS SA		5,341		61,081
Hess Corp.		1,240		41,292
HollyFrontier Corp.		750		18,382
Idemitsu Kosan Co., Ltd.		2,956		67,467
Inpex Corp.		11,643		65,318
JXTG Holdings, Inc.		32,750		111,592
Kinder Morgan, Inc./DE		9,899		137,794
Koninklijke Vopak NV		502		26,360

Company	Shares		U.S. $ Value
Lundin Petroleum AB		3,430	$	64,747
Marathon Oil Corp.		4,035		13,275
Marathon Petroleum Corp.		3,251		76,789
Neste Oyj		4,795		159,422
Noble Energy, Inc.		2,410		14,556
Occidental Petroleum Corp.(c)		4,486		51,948
Oil Search Ltd.		18,278		26,508
OMV AG		1,688		46,195
ONEOK, Inc.		2,018		44,013
Origin Energy Ltd.		16,658		44,764
Phillips 66		2,240		120,176
Pioneer Natural Resources Co.		815		57,172
Repsol SA		16,951		151,224
Royal Dutch Shell PLC - Class A		49,037		851,953
Royal Dutch Shell PLC - Class B		42,444		711,958
Santos Ltd.		18,468		37,929
TOTAL SA		27,758		1,045,887
Valero Energy Corp.		1,995		90,493
Williams Cos., Inc. (The)		6,128		86,711
Woodside Petroleum Ltd.		10,061		111,642
				7,654,385
				7,935,990
Real Estate – 1.5%
Equity Real Estate Investment Trusts (REITs) – 1.0%
Alexandria Real Estate Equities, Inc.		582		79,769
American Tower Corp.		2,225		484,494
Apartment Investment & Management Co. - Class A		674		23,691
Ascendas Real Estate Investment Trust		67,621		133,890
AvalonBay Communities, Inc.		695		102,283
Boston Properties, Inc.		750		69,173
British Land Co. PLC (The)		9,308		38,816
Crown Castle International Corp.		2,070		298,908
Daiwa House REIT Investment Corp.		13		31,862
Dexus		13,420		74,368
Digital Realty Trust, Inc.		1,328		184,473
Duke Realty Corp.		1,778		57,572
Equinix, Inc.		480		299,794
Equity Residential		1,730		106,758
Essex Property Trust, Inc.		328		72,239
Extra Space Storage, Inc.		583		55,828
Federal Realty Investment Trust		272		20,294
Gecina SA		408		53,689
Goodman Group		16,928		124,077
GPT Group (The)		17,105		38,001
Healthpeak Properties, Inc.		2,430		57,956
Host Hotels & Resorts, Inc.		3,570		39,413
ICADE		1,592		124,953
Iron Mountain, Inc.(c)		1,398		33,272
Japan Prime Realty Investment Corp.		15		45,319
Japan Real Estate Investment Corp.		12		70,539
Japan Retail Fund Investment Corp.		24		27,283
Kimco Realty Corp.		2,060		19,920
Klepierre SA		2,231		42,526
Land Securities Group PLC		9,736		67,139
Link REIT		21,500		181,212
Mid-America Apartment Communities, Inc.		596		61,406
Mirvac Group		40,488		51,440

Company	Shares		U.S. $ Value
Nippon Building Fund, Inc.		13	$	87,450
Nippon Prologis REIT, Inc.		14		35,225
Nomura Real Estate Master Fund, Inc.		34		43,245
Orix JREIT, Inc.		30		39,458
Prologis, Inc.		3,679		295,681
Public Storage		750		148,958
Realty Income Corp.		1,608		80,175
Regency Centers Corp.		833		32,012
SBA Communications Corp.		640		172,781
Scentre Group		50,683		48,545
Segro PLC		11,022		104,195
Simon Property Group, Inc.		1,556		85,362
SL Green Realty Corp.		376		16,206
Stockland		23,010		35,383
UDR, Inc.		1,428		52,179
United Urban Investment Corp.		26		26,012
Ventas, Inc.		1,811		48,535
Vicinity Centres		39,646		24,800
Vornado Realty Trust		735		26,614
Welltower, Inc.		2,035		93,162
Weyerhaeuser Co.		3,698		62,681
				4,731,016
Real Estate Management & Development – 0.5%
Aeon Mall Co., Ltd.		3,541		44,692
Aroundtown SA		11,635		58,238
Azrieli Group Ltd.		387		22,127
CapitaLand Ltd.		35,000		70,138
CBRE Group, Inc. - Class A(a)		1,615		60,902
City Developments Ltd.		11,000		55,777
CK Asset Holdings Ltd.		25,719		139,543
Daito Trust Construction Co., Ltd.		700		65,004
Daiwa House Industry Co., Ltd.		6,000		148,244
Deutsche Wohnen SE		3,212		121,731
Henderson Land Development Co., Ltd.		30,420		115,136
Hongkong Land Holdings Ltd.		14,000		52,379
Hulic Co., Ltd.		6,591		66,701
Kerry Properties Ltd.		8,500		22,227
Lendlease Group		10,380		65,080
Mitsubishi Estate Co., Ltd.		13,000		191,999
Mitsui Fudosan Co., Ltd.		10,000		173,147
New World Development Co., Ltd.		82,122		87,565
Nomura Real Estate Holdings, Inc.		3,600		58,251
Sino Land Co., Ltd.		63,328		79,702
Sumitomo Realty & Development Co., Ltd.		3,843		93,838
Sun Hung Kai Properties Ltd.		15,000		196,111
Swire Properties Ltd.		25,389		70,930
Swiss Prime Site AG		976		94,995
Tokyu Fudosan Holdings Corp.		7,989		38,372
Unibail-Rodamco-Westfield		1,707		97,856
Vonovia SE		5,710		284,035
Wharf Real Estate Investment Co., Ltd.		13,000		53,026
Wheelock & Co., Ltd.		17,000		115,191
				2,742,937
				7,473,953
Total Common Stocks (cost $207,714,714)				238,754,113

	Principal Amount (000)			U.S. $ Value
GOVERNMENTS - TREASURIES – 40.5%
United States – 40.5%
U.S. Treasury Bonds 2.25%, 08/15/2046		$	6,373	$	7,584,346
2.375%, 11/15/2049			1,075		1,336,732
2.50%,02/15/2045-05/15/2046			598		739,631
2.75%,08/15/2042-08/15/2047			1,177		1,506,368
2.875%,05/15/2043-05/15/2049			6,862		9,082,440
3.00%,05/15/2045-02/15/2049			4,154		5,694,611
3.125%,11/15/2041-02/15/2043			2,825		3,820,933
3.50%, 02/15/2039			23		32,214
3.625%, 08/15/2043			3,658		5,325,819
3.75%,08/15/2041-11/15/2043			399		589,015
3.875%, 08/15/2040			280		415,800
4.25%, 05/15/2039			240		367,463
4.375%,11/15/2039-05/15/2041			1,258		1,971,014
4.50%, 08/15/2039			317		500,464
4.75%,02/15/2037-02/15/2041			1,127		1,795,865
5.25%, 11/15/2028			690		948,642
5.375%, 02/15/2031			650		954,586
5.50%, 08/15/2028			1,383		1,915,239
6.00%, 02/15/2026			2,846		3,722,034
6.125%, 11/15/2027			732		1,026,744
6.25%,08/15/2023-05/15/2030			804		1,185,469
6.875%, 08/15/2025			849		1,128,109
7.25%, 08/15/2022			775		896,215
7.625%, 02/15/2025			295		396,038
8.00%, 11/15/2021			9,123		10,250,546
U.S. Treasury Notes 0.50%, 03/31/2025			408		410,486
1.125%,02/28/2021-09/30/2021			2,905		2,933,740
1.25%,03/31/2021-08/31/2024			8,437		8,597,464
1.375%,05/31/2021-08/31/2023			2,507		2,576,039
1.50%,09/30/2024-02/15/2030			9,201		9,700,638
1.625%,08/15/2022-08/15/2029			15,079		15,812,151
1.75%,03/31/2022-11/15/2029			15,661		16,387,410
1.875%,11/30/2021-10/31/2022			6,713		6,947,462
2.00%,11/15/2021-11/15/2026			28,091		29,686,887
2.125%,11/30/2023-05/15/2025			11,032		11,816,887
2.25%,04/30/2024-08/15/2049			9,110		10,134,440
2.375%,08/15/2024-05/15/2029			4,221		4,772,276
2.50%,08/15/2023-05/15/2024			5,883		6,361,564
2.625%, 02/15/2029			821		957,876
2.75%,11/15/2023-02/15/2028			3,400		3,709,122
2.875%,10/31/2023-05/15/2028			2,273		2,539,399
3.125%,05/15/2021-11/15/2028			2,049		2,402,103
3.625%, 02/15/2021			564		580,141
Total Governments – Treasuries (cost $180,414,801)					199,512,422
	Shares
INVESTMENT COMPANIES – 4.6%
Funds and Investment Trusts – 4.6%(g)
iShares Core MSCI Emerging Markets ETF			49,932		2,020,748
Vanguard Globalex-U.S. Real Estate ETF			190,876		8,190,489
Vanguard Real Estate ETF(c)			180,607		12,615,399
Total Investment Companies (cost $28,051,701)					22,826,636

Company	Shares			U.S. $ Value
SHORT-TERM INVESTMENTS – 2.6%
Investment Companies – 2.2%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(g) (h) (i) (cost $10,929,116)			10,929,116	$	10,929,116
	Principal Amount (000)
U.S. Treasury Bills – 0.4%
U.S. Treasury Bill Zero Coupon, 04/16/2020 (cost $1,814,962)		$	1,815		1,814,925
Total Short-Term Investments (cost $12,744,078)					12,744,041
Total Investments Before Security Lending Collateral for Securities Loaned – 96.2% (cost $428,925,294)					473,837,212
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.5%
Investment Companies – 0.5%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(g) (h) (i) (cost $2,567,542)			2,567,542		2,567,542
Total Investments – 96.7% (cost $431,492,836)(j)					476,404,754
Other assets less liabilities – 3.3%					16,308,993
Net Assets – 100.0%				$	492,713,747

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr Canadian Bond Futures		34		June 2020		$	3,554,864		$	(16,473	)
10 Yr Mini Japan Government Bond Futures		221		June 2020			31,374,703			(325,044	)
Mini MSCI EAFE Futures		17		June 2020			1,325,405			90,608
Mini MSCI Emerging Markets Futures		520		June 2020			21,915,400			108,692
MSCI Singapore IX ETS Futures		229		April 2020			4,533,760			(56,206	)
Russell 2000E-Mini Futures		99		June 2020			5,680,620			(548,978	)
S&P Mid 400 E Mini Futures		39		June 2020			5,607,420			(441,682	)

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
U.S.T-Note 10 Yr (CBT) Futures		195		June 2020		$	27,044,063		$	(27,676	)
Sold Contracts
Euro STOXX 50 Index Futures		1,394		June 2020			42,233,526			(5,198,388	)
FTSE 100 Index Futures		134		June 2020			9,379,807			(530,990	)
Hang Seng Index Futures		32		April 2020			4,895,295			(89,082	)
S&P 500E-Mini Futures		483		June 2020			62,058,255			1,092,254
SPI 200 Futures		114		June 2020			8,956,255			7,750
TOPIX Index Futures		158		June 2020			20,616,043			(1,058,905	)
									$	(6,994,120	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		USD	589		AUD	908		06/15/2020		$	(30,405	)
Barclays Bank PLC		AUD	4,679		USD	3,147		06/15/2020			268,677
Barclays Bank PLC		EUR	1,358		USD	1,524		06/15/2020			22,238
BNP Paribas SA		CHF	1,377		USD	1,438		06/15/2020			2,308
BNP Paribas SA		JPY	271,320		USD	2,497		06/15/2020			(34,641	)
BNP Paribas SA		USD	1,535		NZD	2,450		06/15/2020			(74,153	)
Citibank, NA		AUD	4,288		USD	2,833		06/15/2020			194,874
Citibank, NA		CHF	946		USD	973		06/15/2020			(13,061	)
Citibank, NA		EUR	4,577		USD	5,103		06/15/2020			40,363
Citibank, NA		EUR	944		USD	1,038		06/15/2020			(5,770	)
Citibank, NA		GBP	5,192		USD	6,669		06/15/2020			211,287
Citibank, NA		USD	903		SEK	8,665		06/15/2020			(25,881	)
Credit Suisse International		GBP	1,618		USD	2,115		06/15/2020			102,882
Credit Suisse International		USD	6,472		AUD	9,840		06/15/2020			(418,465	)
Credit Suisse International		USD	1,788		CHF	1,714		06/15/2020			(1,249	)
Credit Suisse International		USD	3,479		SEK	33,288		06/15/2020			(108,112	)
Goldman Sachs Bank USA		AUD	9,203		USD	6,069		06/15/2020			407,139
Goldman Sachs Bank USA		CHF	2,837		USD	2,914		06/15/2020			(43,131	)
Goldman Sachs Bank USA		NOK	17,875		USD	1,921		06/15/2020			201,165
JPMorgan Chase Bank, NA		AUD	1,429		USD	945		06/15/2020			65,739
JPMorgan Chase Bank, NA		GBP	2,142		USD	2,764		06/15/2020			100,036
JPMorgan Chase Bank, NA		JPY	617,122		USD	5,698		06/15/2020			(59,559	)
JPMorgan Chase Bank, NA		SEK	123,840		USD	13,128		06/15/2020			589,411
JPMorgan Chase Bank, NA		USD	4,077		AUD	6,037		06/15/2020			(362,493	)
JPMorgan Chase Bank, NA		USD	8,969		CHF	8,373		06/15/2020			(239,026	)
JPMorgan Chase Bank, NA		USD	1,391		NZD	2,147		06/15/2020			(110,245	)
JPMorgan Chase Bank, NA		USD	7,579		SEK	73,766		06/15/2020			(109,883	)
Morgan Stanley Capital Services, Inc.		USD	1,493		JPY	155,657		06/15/2020			(40,379	)
Morgan Stanley Capital Services, Inc.		USD	1,899		NOK	17,875		06/15/2020			(179,267	)
State Street Bank & Trust Co.		NZD	4,597		USD	2,894		06/15/2020			152,309
State Street Bank & Trust Co.		USD	173		JPY	18,360		06/15/2020			(1,961	)
										$	500,747

(a) Non-income producing security.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2020, the aggregate market value of these securities amounted to $1,322,478 or 0.3% of net assets.

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

(d) Fair valued by the Adviser.

(e) Illiquid security.

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

(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. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800)227-4618.

(h) Affiliated investments.

(i) The rate shown represents the7-day yield as of period end.

(j) As of March 31, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $92,975,523 and gross unrealized depreciation of investments was $(54,556,978), resulting in net unrealized appreciation of $38,418,545.

Currency Abbreviations:

AUD – Australian Dollar

CHF – Swiss Franc

EUR – Euro

GBP – Great British Pound

JPY – Japanese Yen

NOK – Norwegian Krone

NZD – New Zealand Dollar

SEK – Swedish Krona

USD – United States Dollar

Glossary:

ADR – American Depositary Receipt

CBT – Chicago Board of Trade

EAFE – Europe, Australia, and Far East

ETF – Exchange Traded Fund

FTSE – Financial Times Stock Exchange

MSCI – Morgan Stanley Capital International

REG – Registered Shares

REIT – Real Estate Investment Trust

SPI – Share Price Index

TOPIX – Tokyo Price Index

AB Variable Products Series Fund, Inc.

AB Dynamic Asset Allocation Portfolio

March 31, 2020 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, andover-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, includingnon-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.

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of March 31, 2020:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Common Stocks:
Information Technology	$	28,309,089		$	9,250,288		$	—	$	37,559,377
Health Care		17,105,144			18,342,922			1,489		35,449,555
Financials		12,025,716			21,136,169			—		33,161,885	��
Industrials		9,219,114			17,940,256			—		27,159,370
Consumer Discretionary		11,198,257			14,029,083			—		25,227,340
Consumer Staples		8,821,910			15,947,451			—		24,769,361
Communication Services		11,824,893			7,293,277			—		19,118,170
Materials		2,636,850			8,903,755			—		11,540,605
Utilities		3,832,917			5,525,590			—		9,358,507
Energy		2,847,982			5,088,008			—		7,935,990
Real Estate		3,242,491			4,231,462			—		7,473,953
Governments - Treasuries		—			199,512,422			—		199,512,422
Investment Companies		22,826,636			—			—		22,826,636
Short-Term Investments:
Investment Companies		10,929,116			—			—		10,929,116
U.S. Treasury Bills		—			1,814,925			—		1,814,925
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		2,567,542			—			—		2,567,542
Total Investments in Securities		147,387,657			329,015,608			1,489		476,404,754
Other Financial Instruments(a):
Assets:
Futures		1,291,554			7,750			—		1,299,304
Forward Currency Exchange Contracts		—			2,358,428			—		2,358,428
Liabilities:
Futures		(1,359,853	)		(6,933,571	)		—		(8,293,424	)
Forward Currency Exchange Contracts		—			(1,857,681	)		—		(1,857,681	)
Total	$	147,319,358		$	322,590,534		$	1,489	$	469,911,381

^(a)  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.

A summary of the Portfolio’s transactions in AB mutual funds for the three months ended March 31, 2020 is as follows:

Fund	Market Value 12/31/2019 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 03/31/2020 (000)		Dividend Income (000)
Government Money Market Portfolio	$	12,784	$	53,913	$	55,768	$	10,929	$	49
Government Money Market Portfolio*		—		143,917		141,349		2,568		2
Total	$	12,784	$	197,830	$	197,117	$	13,497	$	51

* Investments of cash collateral for securities lending transactions.