Ab Variable Products Series Fund NPORT-P AB Global Risk Allocation-Moderate Portfolio (Sep 2021 report)

AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

Portfolio of Investments

September 30, 2021 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 51.9%
Information Technology – 11.5%
Communications Equipment – 0.4%
Arista Networks, Inc.(a)		570	$	195,875
Cisco Systems, Inc./Delaware		43,630		2,374,781
F5 Networks, Inc.(a)		620		123,244
Juniper Networks, Inc.		3,390		93,293
Motorola Solutions, Inc.		1,760		408,883
Nokia Oyj(a)		53,670		296,006
Telefonaktiebolaget LM Ericsson - Class B(b)		29,054		327,930
				3,820,012
Electronic Equipment, Instruments & Components – 0.5%
Amphenol Corp. - Class A		6,180		452,561
Azbil Corp.		1,203		51,796
CDW Corp./DE		1,450		263,929
Corning, Inc.		8,020		292,650
Halma PLC		3,834		146,242
Hamamatsu Photonics KK		1,451		89,757
Hexagon AB		19,610		303,327
Hirose Electric Co., Ltd.		350		58,165
Ibiden Co., Ltd.		1,030		56,656
IPG Photonics Corp.(a)		370		58,608
Keyence Corp.		1,937		1,156,139
Keysight Technologies, Inc.(a)		1,900		312,151
Kyocera Corp.		3,211		200,724
Murata Manufacturing Co., Ltd.		5,718		505,771
Omron Corp.		1,872		185,239
Shimadzu Corp.		2,310		101,446
TDK Corp.		3,915		141,186
TE Connectivity Ltd.		3,410		467,920
Teledyne Technologies, Inc.(a)		480		206,198
Trimble, Inc.(a)		2,590		213,028
Venture Corp., Ltd.		2,697		35,449
Yaskawa Electric Corp.		2,441		117,213
Yokogawa Electric Corp.		2,226		38,825
Zebra Technologies Corp. - Class A(a)		560		288,635
				5,743,615
IT Services – 2.1%
Accenture PLC - Class A		6,580		2,105,074
Adyen NV(a) (b) (c)		197		550,686
Afterpay Ltd.(a)		2,174		188,866
Akamai Technologies, Inc.(a)		1,680		175,711
Amadeus IT Group SA - Class A(a)		4,485		294,986
Atos SE		965		51,263
Automatic Data Processing, Inc.		4,400		879,648
Bechtle AG		879		60,119
Broadridge Financial Solutions, Inc.		1,200		199,968
Capgemini SE		1,597		331,181
Cognizant Technology Solutions Corp. - Class A		5,460		405,187
Computershare Ltd.		5,287		68,366
DXC Technology Co.(a)		2,630		88,394
Edenred		2,491		134,097
Fidelity National Information Services, Inc.		6,420		781,186

1

Company	Shares		U.S. $ Value
Fiserv, Inc.(a)		6,160	$	668,360
FleetCor Technologies, Inc.(a)		860		224,692
Fujitsu Ltd.		1,958		353,831
Gartner, Inc.(a)		890		270,453
Global Payments, Inc.		3,050		480,619
GMO Payment Gateway, Inc.		442		55,808
International Business Machines Corp.		9,250		1,285,102
Itochu Techno-Solutions Corp.		936		30,396
Jack Henry & Associates, Inc.		770		126,326
Mastercard, Inc. - Class A		9,060		3,149,981
NEC Corp.		2,492		135,044
Nexi SpA(a) (c)		4,285		79,905
Nomura Research Institute Ltd.		3,437		126,333
NTT Data Corp.		6,155		119,002
Obic Co., Ltd.		706		134,251
Otsuka Corp.		1,111		57,131
Paychex, Inc.		3,320		373,334
PayPal Holdings, Inc.(a)		12,160		3,164,154
SCSK Corp.		1,524		32,234
TIS, Inc.		2,183		59,583
VeriSign, Inc.(a)		1,030		211,160
Visa, Inc. - Class A		17,520		3,902,580
Western Union Co. (The) - Class W		4,230		85,531
Wix.com Ltd.(a)		560		109,743
Worldline SA/France(a) (c)		2,370		180,656
				21,730,941
Semiconductors & Semiconductor Equipment – 2.5%
Advanced Micro Devices, Inc.(a)		12,580		1,294,482
Advantest Corp.		2,003		178,486
Analog Devices, Inc.		5,565		932,026
Applied Materials, Inc.		9,500		1,222,935
ASM International NV(b)		477		186,802
ASML Holding NV(b)		4,176		3,119,715
Broadcom, Inc.		4,230		2,051,254
Disco Corp.		298		83,466
Enphase Energy, Inc.(a)		1,400		209,958
Infineon Technologies AG		13,000		531,676
Intel Corp.		41,810		2,227,637
KLA Corp.		1,590		531,871
Lam Research Corp.		1,480		842,342
Lasertec Corp.		762		173,475
Microchip Technology, Inc.		2,830		434,377
Micron Technology, Inc.		11,610		824,078
Monolithic Power Systems, Inc.		450		218,106
NVIDIA Corp.		25,800		5,344,728
NXP Semiconductors NV		2,850		558,229
Qorvo, Inc.(a)		1,160		193,940
QUALCOMM, Inc.		11,680		1,506,486
Renesas Electronics Corp.(a)		12,226		150,470
Rohm Co., Ltd.		908		85,627
Skyworks Solutions, Inc.		1,710		281,774
STMicroelectronics NV		6,798		296,812
SUMCO Corp.		2,697		53,807
Teradyne, Inc.		1,720		187,772
Texas Instruments, Inc.		9,560		1,837,528
Tokyo Electron Ltd.(b)		1,487		656,925
Xilinx, Inc.		2,540		383,515
				26,600,299

2

Company	Shares		U.S. $ Value
Software – 3.6%
Adobe, Inc.(a)		4,950	$	2,849,814
ANSYS, Inc.(a)		900		306,405
Autodesk, Inc.(a)		2,280		650,188
AVEVA Group PLC		1,121		54,179
Cadence Design Systems, Inc.(a)		2,880		436,147
Ceridian HCM Holding, Inc.(a)		1,394		156,992
Check Point Software Technologies Ltd.(a)		1,136		128,413
Citrix Systems, Inc.		1,280		137,434
CyberArk Software Ltd.(a)		415		65,495
Dassault Systemes SE		6,440		338,908
Fortinet, Inc.(a)		1,400		408,856
Intuit, Inc.		2,830		1,526,813
Microsoft Corp.		77,990		21,986,941
Nemetschek SE		563		58,805
Nice Ltd.(a)		631		178,675
NortonLifeLock, Inc.		6,000		151,800
Oracle Corp.		17,025		1,483,388
Oracle Corp./Japan		375		32,942
Paycom Software, Inc.(a)		510		252,833
PTC, Inc.(a)		1,080		129,373
Sage Group PLC (The)		10,691		101,796
salesforce.com, Inc.(a)		9,590		2,601,000
SAP SE		10,395		1,405,707
ServiceNow, Inc.(a)		2,050		1,275,653
Sinch AB(a) (b) (c)		4,932		95,641
Synopsys, Inc.(a)		1,580		473,068
TeamViewer AG(a) (c)		1,568		45,873
Temenos AG		683		92,674
Trend Micro, Inc./Japan		1,303		72,562
Tyler Technologies, Inc.(a)		420		192,633
WiseTech Global Ltd.		1,425		54,041
Xero Ltd.(a)		1,336		131,100
				37,876,149
Technology Hardware, Storage & Peripherals – 2.4%
Apple, Inc.		162,420		22,982,430
Brother Industries Ltd.(b)		2,301		50,634
Canon, Inc.(b)		9,980		244,191
FUJIFILM Holdings Corp.		3,586		309,650
Hewlett Packard Enterprise Co.		13,520		192,660
HP, Inc.		12,430		340,085
Logitech International SA(b)		1,729		153,824
NetApp, Inc.		2,300		206,448
Ricoh Co., Ltd.		6,538		66,899
Seagate Technology Holdings PLC		2,060		169,991
Seiko Epson Corp.(b)		2,728		55,078
Western Digital Corp.(a)		3,170		178,915
				24,950,805
				120,721,821

3

Company	Shares		U.S. $ Value
Financials – 6.9%
Banks – 3.0%
ABN AMRO Bank NV (GDR)(a) (b) (c)		4,125	$	59,513
Australia & New Zealand Banking Group Ltd.		28,325		568,838
Banco Bilbao Vizcaya Argentaria SA		66,373		438,102
Banco Santander SA		172,613		625,267
Bank Hapoalim BM		11,074		97,270
Bank Leumi Le-Israel BM		14,170		120,063
Bank of America Corp.		78,080		3,314,496
Banque Cantonale Vaudoise		293		22,278
Barclays PLC		172,814		439,116
BNP Paribas SA		11,197		716,392
BOC Hong Kong Holdings Ltd.		36,090		108,754
CaixaBank SA		43,355		134,445
Chiba Bank Ltd. (The)		5,169		33,496
Citigroup, Inc.		21,400		1,501,852
Citizens Financial Group, Inc.		4,410		207,182
Comerica, Inc.		1,440		115,920
Commerzbank AG(a)		9,771		64,720
Commonwealth Bank of Australia		17,660		1,310,554
Concordia Financial Group Ltd.		10,617		41,794
Credit Agricole SA		11,378		156,396
Danske Bank A/S		6,727		113,324
DBS Group Holdings Ltd.		17,948		397,703
DNB Bank ASA		9,295		211,319
Erste Group Bank AG		2,857		125,448
Fifth Third Bancorp		7,280		308,963
FinecoBank Banca Fineco SpA(a)		5,944		107,360
First Republic Bank/CA		1,820		351,042
Hang Seng Bank Ltd.		7,458		127,747
HSBC Holdings PLC		202,756		1,060,146
Huntington Bancshares, Inc./OH		15,270		236,074
ING Groep NV(b)		38,828		564,501
Intesa Sanpaolo SpA		164,403		465,422
Israel Discount Bank Ltd. - Class A(a)		11,352		59,925
Japan Post Bank Co., Ltd.		3,949		33,872
JPMorgan Chase & Co.		31,340		5,130,045
KBC Group NV		2,502		225,692
KeyCorp		10,040		217,065
Lloyds Banking Group PLC		705,351		439,025
M&T Bank Corp.		1,330		198,622
Mediobanca Banca di Credito Finanziario SpA(a)		6,057		72,872
Mitsubishi UFJ Financial Group, Inc.		121,678		719,279
Mizrahi Tefahot Bank Ltd.		1,368		46,074
Mizuho Financial Group, Inc.		24,012		339,702
National Australia Bank Ltd.		32,820		647,244
Natwest Group PLC		47,493		143,185
Nordea Bank Abp		32,251		415,595
Oversea-Chinese Banking Corp., Ltd.		33,417		281,396
People’s United Financial, Inc.		4,420		77,217
PNC Financial Services Group, Inc. (The)		4,400		860,816
Raiffeisen Bank International AG		1,443		37,741
Regions Financial Corp.		9,950		212,034
Resona Holdings, Inc.		20,824		83,296

4

Company	Shares		U.S. $ Value
Shizuoka Bank Ltd. (The)(b)		4,353	$	35,765
Skandinaviska Enskilda Banken AB - Class A		15,873		223,703
Societe Generale SA		8,071		252,742
Standard Chartered PLC		26,164		152,949
Sumitomo Mitsui Financial Group, Inc.		12,994		457,121
Sumitomo Mitsui Trust Holdings, Inc.		3,294		113,445
SVB Financial Group(a)		570		368,722
Svenska Handelsbanken AB - Class A		14,225		159,311
Swedbank AB - Class A		8,832		178,094
Truist Financial Corp.		13,920		816,408
UniCredit SpA		21,156		279,972
United Overseas Bank Ltd.		11,756		222,395
US Bancorp		14,030		833,943
Wells Fargo & Co.		42,800		1,986,348
Westpac Banking Corp.		36,518		675,345
Zions Bancorp NA		1,690		104,594
				31,247,051
Capital Markets – 1.5%
3i Group PLC		9,491		163,024
Abrdn PLC		21,284		72,790
Ameriprise Financial, Inc.		1,200		316,944
Amundi SA(c)		649		54,585
ASX Ltd.(b)		1,975		114,028
Bank of New York Mellon Corp. (The)		8,350		432,864
BlackRock, Inc. - Class A		1,470		1,232,830
Cboe Global Markets, Inc.		1,100		136,246
Charles Schwab Corp. (The)		15,530		1,131,205
CME Group, Inc. - Class A		3,720		719,374
Credit Suisse Group AG		24,365		240,635
Daiwa Securities Group, Inc.		14,087		82,110
Deutsche Bank AG(a)		20,573		261,437
Deutsche Boerse AG		1,892		307,008
EQT AB		2,323		96,460
Franklin Resources, Inc.		2,810		83,513
Futu Holdings Ltd. (ADR)(a)		519		47,239
Goldman Sachs Group, Inc. (The)		3,520		1,330,666
Hargreaves Lansdown PLC		3,469		66,607
Hong Kong Exchanges & Clearing Ltd.		11,990		736,792
Intercontinental Exchange, Inc.		5,820		668,252
Invesco Ltd.		3,910		94,270
Japan Exchange Group, Inc.(b)		4,969		123,231
Julius Baer Group Ltd.		2,257		149,954
London Stock Exchange Group PLC		3,232		323,873
Macquarie Group Ltd.(b)		3,422		442,110
Magellan Financial Group Ltd.(b)		1,344		33,735
MarketAxess Holdings, Inc.		400		168,276
Moody’s Corp.		1,670		593,034
Morgan Stanley		15,410		1,499,547
MSCI, Inc. - Class A		860		523,172
Nasdaq, Inc.		1,190		229,694
Nomura Holdings, Inc.		29,960		147,700
Northern Trust Corp.		2,150		231,792
Partners Group Holding AG		226		352,704
Raymond James Financial, Inc.		1,890		174,409
S&P Global, Inc.		2,500		1,062,225
SBI Holdings, Inc./Japan		2,374		58,145
Schroders PLC		1,212		58,370

5

Company	Shares		U.S. $ Value
Singapore Exchange Ltd.		7,838	$	57,381
St. James’s Place PLC		5,249		105,884
State Street Corp.		3,600		304,992
T. Rowe Price Group, Inc.		2,350		462,245
UBS Group AG		36,493		582,487
				16,073,839
Consumer Finance – 0.2%
Acom Co., Ltd.(b)		3,892		14,222
American Express Co.		6,730		1,127,477
Capital One Financial Corp.		4,670		756,400
Discover Financial Services		3,150		386,977
Synchrony Financial		5,600		273,728
				2,558,804
Diversified Financial Services – 0.7%
Berkshire Hathaway, Inc. - Class B(a)		19,158		5,228,984
EXOR NV		1,118		93,819
Groupe Bruxelles Lambert SA		1,146		126,055
IHS Markit Ltd.		3,870		451,319
Industrivarden AB		1,042		33,288
Industrivarden AB - Class C		1,557		48,105
Investor AB		18,136		390,003
Kinnevik AB(a)		2,481		87,218
L E Lundbergforetagen AB - Class B		741		40,665
M&G PLC		25,356		69,278
Mitsubishi HC Capital, Inc.		6,438		33,664
ORIX Corp.		11,912		222,892
Sofina SA		162		64,369
Tokyo Century Corp.(b)		359		20,212
Wendel SE		299		41,314
				6,951,185
Insurance – 1.5%
Admiral Group PLC		1,880		78,553
Aegon NV		17,451		90,079
Aflac, Inc.		6,540		340,930
Ageas SA/NV		1,796		88,939
AIA Group Ltd.		120,396		1,385,084
Allianz SE		4,105		919,707
Allstate Corp. (The)		3,090		393,388
American International Group, Inc.		8,880		487,423
Aon PLC		2,340		668,702
Arthur J Gallagher & Co.		2,120		315,138
Assicurazioni Generali SpA		11,005		233,077
Assurant, Inc.		620		97,805
Aviva PLC		38,316		203,070
AXA SA		19,297		534,782
Baloise Holding AG		484		73,418
Brown & Brown, Inc.		2,416		133,967
Chubb Ltd.		4,650		806,682
Cincinnati Financial Corp.		1,550		177,041
CNP Assurances		1,674		26,421
Dai-ichi Life Holdings, Inc.		9,937		217,333
Direct Line Insurance Group PLC		13,308		51,929
Everest Re Group Ltd.		410		102,820
Gjensidige Forsikring ASA		1,950		43,189
Globe Life, Inc.		980		87,249

6

Company	Shares		U.S. $ Value
Hannover Rueck SE		618	$	107,619
Hartford Financial Services Group, Inc. (The)		3,690		259,222
Insurance Australia Group Ltd.(b)		24,042		83,961
Japan Post Holdings Co., Ltd.(a)		15,360		129,111
Japan Post Insurance Co., Ltd.		2,194		39,795
Legal & General Group PLC		58,199		218,659
Lincoln National Corp.		1,850		127,188
Loews Corp.		2,310		124,578
Marsh & McLennan Cos., Inc.		5,260		796,522
Medibank Pvt Ltd.		26,859		68,577
MetLife, Inc.		7,700		475,321
MS&AD Insurance Group Holdings, Inc.		4,341		145,192
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		1,395		380,653
NN Group NV		2,842		148,870
Phoenix Group Holdings PLC		6,334		54,759
Poste Italiane SpA(c)		5,095		69,964
Principal Financial Group, Inc.		2,610		168,084
Progressive Corp. (The)		6,050		546,859
Prudential Financial, Inc.		4,070		428,164
Prudential PLC		25,976		504,075
QBE Insurance Group Ltd.		14,387		118,523
Sampo Oyj - Class A		4,970		245,721
SCOR SE		1,546		44,518
Sompo Holdings, Inc.		3,225		139,917
Suncorp Group Ltd.		12,489		111,052
Swiss Life Holding AG		323		162,749
Swiss Re AG		3,003		256,307
T&D Holdings, Inc.		5,247		71,978
Tokio Marine Holdings, Inc.		6,289		337,122
Travelers Cos., Inc. (The)		2,600		395,226
Tryg A/S		3,511		79,590
Willis Towers Watson PLC		1,330		309,172
WR Berkley Corp.		1,450		106,111
Zurich Insurance Group AG		1,498		612,562
				15,424,447
				72,255,326
Health Care – 6.8%
Biotechnology – 0.8%
AbbVie, Inc.		18,280		1,971,864
Amgen, Inc.		5,950		1,265,267
Argenx SE(a)		464		139,475
Biogen, Inc.(a)		1,560		441,464
CSL Ltd.		4,530		946,458
Genmab A/S(a)		653		285,310
Gilead Sciences, Inc.		12,980		906,653
Grifols SA		2,909		71,032
Incyte Corp.(a)		1,930		132,745
Moderna, Inc.(a)		3,629		1,396,657
PeptiDream, Inc.(a)		934		30,490
Regeneron Pharmaceuticals, Inc.(a)		1,090		659,646
Vertex Pharmaceuticals, Inc.(a)		2,680		486,125
				8,733,186

7

Company	Shares		U.S. $ Value
Health Care Equipment & Supplies – 1.7%
Abbott Laboratories		18,390	$	2,172,411
ABIOMED, Inc.(a)		470		152,994
Alcon, Inc.		4,974		402,748
Align Technology, Inc.(a)		750		499,073
Ambu A/S		1,633		48,291
Asahi Intecc Co., Ltd.		2,034		55,708
Baxter International, Inc.		5,200		418,236
Becton Dickinson and Co.		3,010		739,918
BioMerieux		450		51,204
Boston Scientific Corp.(a)		14,710		638,267
Carl Zeiss Meditec AG		418		80,069
Cochlear Ltd.(b)		669		104,673
Coloplast A/S - Class B		1,189		185,915
Cooper Cos., Inc. (The)		510		210,788
Danaher Corp.		6,570		2,000,171
Demant A/S(a)		1,056		53,213
DENTSPLY SIRONA, Inc.		2,260		131,193
DexCom, Inc.(a)		1,000		546,860
DiaSorin SpA		272		56,960
Edwards Lifesciences Corp.(a)		6,430		727,940
Fisher & Paykel Healthcare Corp., Ltd.		5,621		123,638
GN Store Nord AS		1,304		90,189
Hologic, Inc.(a)		2,650		195,597
Hoya Corp.		3,712		579,141
IDEXX Laboratories, Inc.(a)		890		553,491
Intuitive Surgical, Inc.(a)		1,230		1,222,804
Koninklijke Philips NV		9,069		402,908
Medtronic PLC		13,930		1,746,125
Olympus Corp.		11,622		254,382
ResMed, Inc.		1,510		397,961
Sartorius AG (Preference Shares)		265		168,701
Siemens Healthineers AG(c)		2,703		175,304
Smith & Nephew PLC		8,782		151,295
Sonova Holding AG		551		208,227
STERIS PLC		1,010		206,323
Straumann Holding AG		104		186,520
Stryker Corp.		3,390		894,011
Sysmex Corp.		1,676		208,173
Teleflex, Inc.		490		184,510
Terumo Corp.		6,427		303,472
West Pharmaceutical Services, Inc.		770		326,896
Zimmer Biomet Holdings, Inc.		2,160		316,138
				18,172,438
Health Care Providers & Services – 1.0%
AmerisourceBergen Corp. - Class A		1,530		182,759
Amplifon SpA		1,214		57,696
Anthem, Inc.		2,540		946,912
Cardinal Health, Inc.		3,000		148,380
Centene Corp.(a)		6,030		375,729
Cigna Corp.		3,550		710,568
CVS Health Corp.		13,630		1,156,642
DaVita, Inc.(a)		720		83,707
Fresenius Medical Care AG & Co. KGaA		2,061		144,567
Fresenius SE & Co. KGaA		4,174		199,789
HCA Healthcare, Inc.		2,720		660,198

8

Company	Shares		U.S. $ Value
Henry Schein, Inc.(a)		1,450	$	110,432
Humana, Inc.		1,340		521,461
Laboratory Corp. of America Holdings(a)		1,010		284,254
McKesson Corp.		1,640		326,983
Medipal Holdings Corp.		1,788		33,650
Orpea SA		544		63,252
Quest Diagnostics, Inc.		1,350		196,169
Ramsay Health Care Ltd.		1,891		93,712
Ryman Healthcare Ltd.(b)		4,145		43,131
Sonic Healthcare Ltd.		4,427		127,937
UnitedHealth Group, Inc.		9,770		3,817,530
Universal Health Services, Inc. - Class B		800		110,696
				10,396,154
Health Care Technology – 0.1%
Cerner Corp.		3,110		219,317
M3, Inc.		4,392		313,011
				532,328
Life Sciences Tools & Services – 0.6%
Agilent Technologies, Inc.		3,140		494,644
Bio-Rad Laboratories, Inc. - Class A(a)		230		171,569
Bio-Techne Corp.		402		194,797
Charles River Laboratories International, Inc.(a)		520		214,589
Eurofins Scientific SE		1,347		172,943
Illumina, Inc.(a)		1,510		612,471
IQVIA Holdings, Inc.(a)		1,980		474,289
Lonza Group AG		742		556,581
Mettler-Toledo International, Inc.(a)		240		330,567
PerkinElmer, Inc.		1,160		201,016
QIAGEN NV(a)		2,353		122,080
Sartorius Stedim Biotech		280		156,465
Thermo Fisher Scientific, Inc.		4,070		2,325,313
Waters Corp.(a)		640		228,672
				6,255,996
Pharmaceuticals – 2.6%
Astellas Pharma, Inc.		18,532		305,019
AstraZeneca PLC		15,409		1,857,058
Bayer AG		9,780		530,814
Bristol-Myers Squibb Co.		23,130		1,368,602
Catalent, Inc.(a)		1,760		234,203
Chugai Pharmaceutical Co., Ltd.		6,686		244,667
Daiichi Sankyo Co., Ltd.		16,938		450,231
Eisai Co., Ltd.		2,366		177,231
Eli Lilly & Co.		8,240		1,903,852
GlaxoSmithKline PLC		50,080		945,168
Hikma Pharmaceuticals PLC		1,686		55,463
Hisamitsu Pharmaceutical Co., Inc.		498		18,835
Ipsen SA		416		39,641
Johnson & Johnson		27,260		4,402,490
Kyowa Kirin Co., Ltd.		2,633		94,920
Merck & Co., Inc.		26,210		1,968,633
Merck KGaA		1,287		278,558
Nippon Shinyaku Co., Ltd.		479		39,816
Novartis AG		22,102		1,812,345

9

Company	Shares		U.S. $ Value
Novo Nordisk A/S - Class B		17,141	$	1,652,212
Ono Pharmaceutical Co., Ltd.		3,607		82,253
Organon & Co.		2,620		85,910
Orion Oyj - Class B(b)		1,034		40,937
Otsuka Holdings Co., Ltd.		3,931		168,100
Pfizer, Inc.		57,960		2,492,860
Recordati Industria Chimica e Farmaceutica SpA		1,019		59,061
Roche Holding AG		7,319		2,685,986
Sanofi		11,279		1,085,762
Santen Pharmaceutical Co., Ltd.		3,513		49,407
Shionogi & Co., Ltd.		2,680		183,391
Sumitomo Dainippon Pharma Co., Ltd.		1,746		31,208
Taisho Pharmaceutical Holdings Co., Ltd.		332		19,352
Takeda Pharmaceutical Co., Ltd.		15,692		517,566
Teva Pharmaceutical Industries Ltd. (Sponsored ADR)(a)		10,694		104,160
UCB SA		1,281		143,443
Viatris, Inc.		12,510		169,510
Vifor Pharma AG		513		66,493
Zoetis, Inc.		4,910		953,227
				27,318,384
				71,408,486
Consumer Discretionary – 6.5%
Auto Components – 0.2%
Aisin Corp.		1,436		52,036
Aptiv PLC(a)		2,800		417,116
BorgWarner, Inc.		2,480		107,161
Bridgestone Corp.		5,684		268,917
Cie Generale des Etablissements Michelin SCA - Class B		1,687		258,685
Continental AG(a)		1,106		120,066
Denso Corp.		4,314		281,693
Faurecia SE		1,144		53,822
Koito Manufacturing Co., Ltd.		1,019		61,276
Stanley Electric Co., Ltd.		1,268		32,027
Sumitomo Electric Industries Ltd.		7,356		97,818
Toyota Industries Corp.		1,489		122,515
Valeo		2,239		62,486
Vitesco Technologies Group AG(a)		221		13,067
				1,948,685
Automobiles – 1.3%
Bayerische Motoren Werke AG		3,296		313,051
Bayerische Motoren Werke AG (Preference Shares)		610		46,272
Daimler AG		8,520		751,734
Ferrari NV		1,255		261,918
Ford Motor Co.(a)		40,590		574,754
General Motors Co.(a)		13,210		696,299
Honda Motor Co., Ltd.		16,228		498,910
Isuzu Motors Ltd.		5,378		69,969
Mazda Motor Corp.(a)		5,545		47,986
Nissan Motor Co., Ltd.(a)		22,640		113,143
Porsche Automobil Holding SE (Preference Shares)		1,540		152,291

10

Company	Shares		U.S. $ Value
Renault SA(a)		1,874	$	66,484
Stellantis NV(b)		20,187		384,181
Subaru Corp.		6,001		110,897
Suzuki Motor Corp.		3,709		165,715
Tesla, Inc.(a)		8,386		6,503,175
Toyota Motor Corp.		105,565		1,880,892
Volkswagen AG		332		102,390
Volkswagen AG (Preference Shares)		1,848		411,924
Yamaha Motor Co., Ltd.		2,731		76,031
				13,228,016
Distributors – 0.0%
Genuine Parts Co.		1,490		180,633
LKQ Corp.(a)		2,870		144,418
Pool Corp.		420		182,452
				507,503
Hotels, Restaurants & Leisure – 1.0%
Accor SA(a)		1,657		59,084
Aristocrat Leisure Ltd.		5,762		191,624
Booking Holdings, Inc.(a)		430		1,020,764
Caesars Entertainment, Inc.(a)		2,160		242,525
Carnival Corp.(a)		8,260		206,583
Chipotle Mexican Grill, Inc. - Class A(a)		300		545,256
Compass Group PLC(a)		17,757		363,151
Crown Resorts Ltd.(a) (b)		3,632		24,862
Darden Restaurants, Inc.		1,350		204,484
Domino’s Pizza Enterprises Ltd.		648		74,117
Domino’s Pizza, Inc.		400		190,784
Entain PLC(a)		5,707		163,001
Evolution AB(c)		1,691		256,084
Expedia Group, Inc.(a)		1,460		239,294
Flutter Entertainment PLC(a)		1,657		328,636
Galaxy Entertainment Group Ltd.(a)		21,186		108,706
Genting Singapore Ltd.		58,976		31,095
Hilton Worldwide Holdings, Inc.(a)		2,880		380,477
InterContinental Hotels Group PLC(a)		1,855		118,445
La Francaise des Jeux SAEM(c)		931		47,869
Las Vegas Sands Corp.(a)		3,400		124,440
Marriott International, Inc./MD - Class A(a)		2,760		408,728
McDonald’s Corp.		7,730		1,863,780
McDonald’s Holdings Co. Japan Ltd.(b)		778		36,705
Melco Resorts & Entertainment Ltd. (ADR)(a)		2,093		21,432
MGM Resorts International		4,210		181,662
Norwegian Cruise Line Holdings Ltd.(a)		3,830		102,299
Oriental Land Co., Ltd./Japan		1,992		322,257
Penn National Gaming, Inc.(a)		1,530		110,864
Royal Caribbean Cruises Ltd.(a)		2,260		201,027
Sands China Ltd.(a)		23,670		48,441
SJM Holdings Ltd.(a) (b)		19,382		13,173
Sodexo SA(a)		914		79,880
Starbucks Corp.		12,200		1,345,782

11

Company	Shares		U.S. $ Value
Tabcorp Holdings Ltd.(b)		21,623	$	75,131
Whitbread PLC(a)		2,080		92,483
Wynn Macau Ltd.(a) (b)		15,232		12,818
Wynn Resorts Ltd.(a) (b)		1,080		91,530
Yum! Brands, Inc.		3,080		376,715
				10,305,988
Household Durables – 0.4%
Barratt Developments PLC		9,931		87,788
Berkeley Group Holdings PLC		1,176		68,673
Casio Computer Co., Ltd.(b)		1,894		31,357
DR Horton, Inc.		3,390		284,658
Electrolux AB - Class B(b)		2,199		50,805
Garmin Ltd.		1,550		240,963
Husqvarna AB - Class B		4,078		48,716
Iida Group Holdings Co., Ltd.		1,435		36,911
Leggett & Platt, Inc.		1,370		61,431
Lennar Corp. - Class A		2,850		266,988
Mohawk Industries, Inc.(a)		600		106,440
Newell Brands, Inc.		3,910		86,567
NVR, Inc.(a)		40		191,763
Panasonic Corp.		21,981		272,463
Persimmon PLC		3,229		115,485
PulteGroup, Inc.		2,730		125,362
Rinnai Corp.		352		38,647
SEB SA		297		41,784
Sekisui Chemical Co., Ltd.		3,717		63,866
Sekisui House Ltd.		6,009		125,834
Sharp Corp./Japan(b)		2,088		26,321
Sony Group Corp.		12,553		1,393,617
Taylor Wimpey PLC		35,555		74,157
Whirlpool Corp.		650		132,509
				3,973,105
Internet & Direct Marketing Retail – 1.6%
Amazon.com, Inc.(a)		4,501		14,785,965
Delivery Hero SE(a) (c)		1,568		200,007
eBay, Inc.		6,700		466,789
Etsy, Inc.(a)		1,310		272,428
HelloFresh SE(a)		1,662		153,182
Just Eat Takeaway.com NV(a) (b) (c)		1,804		131,807
Mercari, Inc.(a)		996		55,037
Prosus NV(a) (b)		9,278		742,620
Rakuten, Inc.		8,444		82,251
Zalando SE(a) (c)		1,660		151,394
ZOZO, Inc.		1,215		45,520
				17,087,000
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		2,021		151,934
Hasbro, Inc.		1,320		117,771
Shimano, Inc.		744		217,387
Yamaha Corp.		1,399		88,000
				575,092

12

Company	Shares		U.S. $ Value
Multiline Retail – 0.3%
Dollar General Corp.		2,440	$	517,622
Dollar Tree, Inc.(a)		2,400		229,728
Next PLC		1,342		147,621
Pan Pacific International Holdings Corp.		4,019		82,925
Ryohin Keikaku Co., Ltd.		2,464		54,807
Target Corp.		5,120		1,171,303
Wesfarmers Ltd.		11,287		448,922
				2,652,928
Specialty Retail – 0.9%
ABC-Mart, Inc.		322		18,088
Advance Auto Parts, Inc.		680		142,045
AutoZone, Inc.(a)		230		390,538
Bath & Body Works, Inc.(d)		2,420		152,533
Best Buy Co., Inc.		2,300		243,133
CarMax, Inc.(a)		1,680		214,973
Chow Tai Fook Jewellery Group Ltd.		19,506		37,096
Fast Retailing Co., Ltd.		581		428,496
Gap, Inc. (The)		2,150		48,805
H & M Hennes & Mauritz AB - Class B(a)		7,331		148,391
Hikari Tsushin, Inc.		232		39,212
Home Depot, Inc. (The)		11,010		3,614,143
Industria de Diseno Textil SA		10,858		399,528
JD Sports Fashion PLC		5,030		70,689
Kingfisher PLC		20,586		92,923
Lowe’s Cos., Inc.		7,320		1,484,935
Nitori Holdings Co., Ltd.		809		159,431
O’Reilly Automotive, Inc.(a)		720		439,963
Ross Stores, Inc.		3,690		401,657
TJX Cos., Inc. (The)		12,480		823,430
Tractor Supply Co.		1,190		241,106
Ulta Beauty, Inc.(a)		570		205,724
USS Co., Ltd.		2,138		36,394
Yamada Holdings Co., Ltd.		6,598		27,709
				9,860,942
Textiles, Apparel & Luxury Goods – 0.7%
adidas AG		1,896		595,830
Burberry Group PLC		3,948		96,081
Cie Financiere Richemont SA		5,196		538,732
EssilorLuxottica SA		2,841		542,895
Hanesbrands, Inc.		3,610		61,948
Hermes International		316		435,996
Kering SA		747		530,565
LVMH Moet Hennessy Louis Vuitton SE		2,764		1,979,752
Moncler SpA		1,964		119,785
NIKE, Inc. - Class B		13,200		1,917,036
Pandora A/S		1,012		122,856
Puma SE		1,071		119,058
PVH Corp.(a)		730		75,037
Ralph Lauren Corp.		490		54,410
Swatch Group AG (The)		297		77,482
Swatch Group AG (The) (REG)		513		26,396
Tapestry, Inc.		2,880		106,618
Under Armour, Inc. - Class A(a)		1,950		39,351
Under Armour, Inc. - Class C(a)		2,030		35,566
VF Corp.		3,320		222,407
				7,697,801
				67,837,060

13

Company	Shares		U.S. $ Value
Industrials – 5.3%
Aerospace & Defense – 0.7%
Airbus SE(a)		5,855	$	776,232
BAE Systems PLC		31,403		237,848
Boeing Co. (The)(a)		5,690		1,251,459
Dassault Aviation SA		290		32,599
Elbit Systems Ltd.		298		43,150
General Dynamics Corp.		2,370		464,591
Howmet Aerospace, Inc.		4,040		126,048
Huntington Ingalls Industries, Inc.		420		81,085
L3Harris Technologies, Inc.		2,120		466,909
Lockheed Martin Corp.		2,530		873,103
MTU Aero Engines AG		541		121,629
Northrop Grumman Corp.		1,550		558,232
Raytheon Technologies Corp.		15,680		1,347,853
Rolls-Royce Holdings PLC(a)		81,609		152,422
Safran SA		3,403		430,413
Singapore Technologies Engineering Ltd.		15,226		42,502
Textron, Inc.		2,330		162,657
Thales SA		1,089		105,585
TransDigm Group, Inc.(a)		570		356,005
				7,630,322
Air Freight & Logistics – 0.4%
CH Robinson Worldwide, Inc.		1,370		119,190
Deutsche Post AG		9,867		618,757
DSV A/S		2,061		493,329
Expeditors International of Washington, Inc.		1,740		207,286
FedEx Corp.		2,530		554,804
InPost SA(a)		1,950		32,357
Kuehne & Nagel International AG		541		184,698
SG Holdings Co., Ltd.		3,122		88,325
United Parcel Service, Inc. - Class B		7,490		1,363,929
Yamato Holdings Co., Ltd.		2,842		71,932
				3,734,607
Airlines – 0.1%
Alaska Air Group, Inc.(a)		1,280		75,008
American Airlines Group, Inc.(a)		6,640		136,253
ANA Holdings, Inc.(a)		1,558		40,504
Delta Air Lines, Inc.(a)		6,620		282,078
Deutsche Lufthansa AG(a) (b)		5,828		26,802
Japan Airlines Co., Ltd.(a) (b)		1,406		33,472
Qantas Airways Ltd.(a)		9,013		36,349
Singapore Airlines Ltd.(a) (b)		13,067		48,120
Southwest Airlines Co.(a)		6,120		314,752
United Airlines Holdings, Inc.(a)		3,350		159,359
				1,152,697

14

Company	Shares		U.S. $ Value
Building Products – 0.4%
A O Smith Corp.		1,390	$	84,887
AGC, Inc.		1,885		97,138
Allegion PLC		930		122,927
Assa Abloy AB - Class B		9,977		289,399
Carrier Global Corp.		8,450		437,372
Cie de Saint-Gobain		5,038		339,042
Daikin Industries Ltd.		2,480		540,735
Fortune Brands Home & Security, Inc.		1,430		127,871
Geberit AG		369		270,921
Johnson Controls International PLC		7,420		505,154
Kingspan Group PLC		1,556		155,210
Lixil Corp.(b)		2,597		75,270
Masco Corp.		2,620		145,541
Nibe Industrier AB		13,903		174,716
Otis Worldwide Corp.		4,170		343,108
ROCKWOOL International A/S		93		39,719
TOTO Ltd.		1,380		65,711
Xinyi Glass Holdings Ltd.		17,728		52,883
				3,867,604
Commercial Services & Supplies – 0.2%
Brambles Ltd.		14,338		110,251
Cintas Corp.		920		350,207
Copart, Inc.(a)		2,150		298,248
Dai Nippon Printing Co., Ltd.		2,213		53,317
Rentokil Initial PLC		18,085		142,018
Republic Services, Inc. - Class A		2,180		261,731
Rollins, Inc.		2,290		80,906
Secom Co., Ltd.		2,113		152,829
Securitas AB - Class B(b)		3,053		48,322
Sohgo Security Services Co., Ltd.		696		31,290
TOPPAN, inc.		2,610		44,253
Waste Management, Inc.		4,020		600,427
				2,173,799
Construction & Engineering – 0.1%
ACS Actividades de Construccion y Servicios SA(b)		170		4,605
Bouygues SA		2,228		92,166
Eiffage SA		861		87,019
Epiroc AB - Class A		6,427		133,614
Epiroc AB - Class B		3,803		67,358
Ferrovial SA		4,850		141,565
Kajima Corp.		4,382		56,153
Obayashi Corp.		6,333		52,201
Quanta Services, Inc.		1,440		163,901
Shimizu Corp.		5,383		40,294
Skanska AB - Class B		3,317		83,216
Taisei Corp.		1,861		59,630
Vinci SA		5,300		551,247
				1,532,969
Electrical Equipment – 0.5%
ABB Ltd.		17,266		577,579
AMETEK, Inc.		2,390		296,384
Eaton Corp. PLC		4,120		615,157
Emerson Electric Co.		6,200		584,040

15

Company	Shares		U.S. $ Value
Fuji Electric Co., Ltd.		1,237	$	56,291
Generac Holdings, Inc.(a)		650		265,636
Legrand SA		2,663		285,340
Mitsubishi Electric Corp.		18,167		252,477
Nidec Corp.		4,452		490,788
Prysmian SpA		2,484		86,762
Rockwell Automation, Inc.		1,200		352,848
Schneider Electric SE		5,363		893,228
Siemens Energy AG(a)		3,897		104,243
Siemens Gamesa Renewable Energy SA(a)		2,325		59,095
Vestas Wind Systems A/S		10,053		403,216
				5,323,084
Industrial Conglomerates – 0.7%
3M Co.		6,000		1,052,520
CK Hutchison Holdings Ltd.		26,326		175,624
DCC PLC		1,022		85,200
General Electric Co.		11,361		1,170,524
Hitachi Ltd.		9,635		570,013
Honeywell International, Inc.		7,190		1,526,293
Investment AB Latour - Class B		1,443		44,653
Jardine Matheson Holdings Ltd.		2,185		115,495
Keppel Corp., Ltd.		14,204		54,241
Melrose Industries PLC		42,643		99,005
Roper Technologies, Inc.		1,090		486,282
Siemens AG		7,615		1,245,441
Smiths Group PLC		3,865		74,528
Toshiba Corp.		4,109		172,952
				6,872,771
Machinery – 1.0%
Alfa Laval AB		3,206		119,579
Alstom SA		2,812		106,667
Atlas Copco AB - Class A		6,685		403,678
Atlas Copco AB - Class B		3,901		198,275
Caterpillar, Inc.		5,670		1,088,470
CNH Industrial NV		9,980		167,754
Cummins, Inc.		1,510		339,086
Daifuku Co., Ltd.		1,043		97,819
Deere & Co.		3,230		1,082,276
Dover Corp.		1,490		231,695
FANUC Corp.		1,910		418,790
Fortive Corp.		3,500		246,995
GEA Group AG		1,496		68,321
Harmonic Drive Systems, Inc.(b)		422		20,238
Hino Motors Ltd.		2,801		26,010
Hitachi Construction Machinery Co., Ltd.		1,049		29,471
Hoshizaki Corp.		588		53,481
IDEX Corp.		790		163,491
Illinois Tool Works, Inc.		2,980		615,757
Ingersoll Rand, Inc.(a)		3,860		194,583
KION Group AG		750		69,733
Knorr-Bremse AG		752		80,458
Komatsu Ltd.		8,739		209,285
Kone Oyj - Class B		3,384		237,720
Kubota Corp.		10,266		218,487
Kurita Water Industries Ltd.		963		46,338
Makita Corp.		2,290		125,910

16

Company	Shares		U.S. $ Value
MINEBEA MITSUMI, Inc.		3,540	$	90,156
MISUMI Group, Inc.		2,770		117,861
Mitsubishi Heavy Industries Ltd.		3,125		83,731
Miura Co., Ltd.		855		34,178
Nabtesco Corp.		1,098		41,515
NGK Insulators Ltd.		2,514		42,615
NSK Ltd.		3,763		25,499
PACCAR, Inc.		3,590		283,323
Parker-Hannifin Corp.		1,340		374,691
Pentair PLC		1,720		124,924
Rational AG		55		51,666
Sandvik AB		11,238		256,747
Schindler Holding AG		414		111,146
Schindler Holding AG (REG)		214		55,132
SKF AB - Class B		3,722		87,769
SMC Corp.		570		355,629
Snap-on, Inc.		560		117,012
Spirax-Sarco Engineering PLC		746		150,100
Stanley Black & Decker, Inc.		1,670		292,768
Techtronic Industries Co., Ltd.		13,693		270,595
THK Co., Ltd.		1,174		25,762
Trane Technologies PLC		2,470		426,445
Volvo AB		1,952		44,105
Volvo AB - Class B		14,231		317,728
Wartsila Oyj Abp		4,616		54,973
Westinghouse Air Brake Technologies Corp.		1,830		157,764
Xylem, Inc./NY		1,860		230,045
				10,884,246
Marine – 0.0%
AP Moller - Maersk A/S - Class A		33		85,042
AP Moller - Maersk A/S - Class B		62		167,840
Nippon Yusen KK		1,675		125,505
SITC International Holdings Co., Ltd.		14,000		49,817
				428,204
Professional Services – 0.4%
Adecco Group AG		1,583		79,318
Bureau Veritas SA		2,866		88,448
Equifax, Inc.		1,260		319,309
Experian PLC		9,131		382,499
Intertek Group PLC		1,640		109,662
Jacobs Engineering Group, Inc.		1,340		177,590
Leidos Holdings, Inc.		1,370		131,698
Nielsen Holdings PLC		3,710		71,195
Nihon M&A Center, Inc.		2,953		86,713
Persol Holdings Co., Ltd.		1,731		43,152
Randstad NV(b)		1,230		82,812
Recruit Holdings Co., Ltd.		13,506		825,565
RELX PLC (London)		19,236		553,732
Robert Half International, Inc.		1,160		116,383
SGS SA		61		177,561
Teleperformance		585		230,101
Verisk Analytics, Inc. - Class A		1,680		336,454
Wolters Kluwer NV		2,663		282,269
				4,094,461

17

Company	Shares		U.S. $ Value
Road & Rail – 0.4%
Aurizon Holdings Ltd.		18,088	$	48,972
Central Japan Railway Co.		1,439		229,699
CSX Corp.		22,220		660,823
East Japan Railway Co.		3,018		213,291
Hankyu Hanshin Holdings, Inc.		2,232		70,249
JB Hunt Transport Services, Inc.		860		143,809
Kansas City Southern		940		254,402
Keio Corp.		1,003		53,647
Keisei Electric Railway Co., Ltd.(b)		1,261		41,771
Kintetsu Group Holdings Co., Ltd.(a)		1,673		56,262
MTR Corp., Ltd.		15,071		81,111
Nippon Express Co., Ltd.		815		56,129
Norfolk Southern Corp.		2,590		619,657
Odakyu Electric Railway Co., Ltd.(b)		2,875		66,542
Old Dominion Freight Line, Inc.		980		280,260
Tobu Railway Co., Ltd.		1,841		49,570
Tokyu Corp.		4,875		72,362
Union Pacific Corp.		6,880		1,348,549
West Japan Railway Co.(b)		1,673		84,097
				4,431,202
Trading Companies & Distributors – 0.3%
Ashtead Group PLC		4,473		338,129
Brenntag SE		1,560		144,916
Bunzl PLC		3,286		108,420
Fastenal Co.		5,940		306,563
Ferguson PLC		2,241		311,100
ITOCHU Corp.		11,832		344,619
Marubeni Corp.		15,255		126,208
Mitsubishi Corp.		12,571		394,760
Mitsui & Co., Ltd.		15,383		336,380
MonotaRO Co., Ltd.		2,444		54,770
Reece Ltd.(b)		2,835		38,234
Sumitomo Corp.		10,983		154,717
Toyota Tsusho Corp.		2,177		91,419
United Rentals, Inc.(a)		750		263,197
WW Grainger, Inc.		460		180,808
				3,194,240
Transportation Infrastructure – 0.1%
Aena SME SA(a) (c)		761		131,609
Aeroports de Paris(a)		327		41,647
Atlantia SpA(a)		4,832		91,188
Auckland International Airport Ltd.(a)		12,208		65,622
Getlink SE		4,291		67,032
Sydney Airport(a) (b)		12,897		75,742
Transurban Group(a) (b)		30,282		305,676
				778,516
				56,098,722
Communication Services – 4.8%
Diversified Telecommunication Services – 1.1%
AT&T, Inc.		73,930		1,996,849
BT Group PLC(a)		87,050		186,619
Cellnex Telecom SA(c)		5,072		313,146
Charter Communications, Inc. - Class A(a)		1,430		1,040,411

18

Company	Shares		U.S. $ Value
Comcast Corp. - Class A		47,470	$	2,654,997
Deutsche Telekom AG		33,178		665,358
Elisa Oyj		1,470		91,337
Eurazeo SE		385		36,075
HKT Trust & HKT Ltd. - Class SS		36,943		50,513
Infrastrutture Wireless Italiane SpA(c)		3,277		36,499
Koninklijke KPN NV		32,792		103,189
Lumen Technologies, Inc.		10,300		127,617
Nippon Telegraph & Telephone Corp.		12,814		355,065
Orange SA		19,457		210,425
Proximus SADP		1,483		29,429
Singapore Telecommunications Ltd.		80,533		144,981
Spark New Zealand Ltd.		18,061		59,418
Swisscom AG		261		150,200
Telecom Italia SpA/Milano		97,180		37,998
Telecom Italia SpA/Milano (Savings Shares)		58,789		23,723
Telefonica Deutschland Holding AG		10,153		28,908
Telefonica SA		50,934		239,012
Telenor ASA		6,824		114,861
Telia Co. AB(b)		25,926		106,653
Telstra Corp., Ltd.		40,598		113,760
United Internet AG		946		36,594
Verizon Communications, Inc.		42,860		2,314,869
Washington H Soul Pattinson & Co., Ltd.(b)		1,050		29,181
				11,297,687
Entertainment – 0.8%
Activision Blizzard, Inc.		8,040		622,216
Bollore SA		8,620		49,779
Capcom Co., Ltd.		1,717		47,709
Electronic Arts, Inc.		2,960		421,060
Embracer Group AB(a) (b)		5,002		48,166
Koei Tecmo Holdings Co., Ltd.(b)		573		27,199
Konami Holdings Corp.		909		56,975
Live Nation Entertainment, Inc.(a)		1,490		135,784
Netflix, Inc.(a)		4,590		2,801,461
Nexon Co., Ltd.(b)		4,758		76,368
Nintendo Co., Ltd.		1,115		532,839
Sea Ltd. (ADR)(a)		683		217,692
Square Enix Holdings Co., Ltd.		836		44,681
Take-Two Interactive Software, Inc.(a)		1,200		184,884
Toho Co., Ltd./Tokyo		1,091		51,398
Ubisoft Entertainment SA(a)		973		58,265
Universal Music Group NV(a)		7,089		189,810
Walt Disney Co. (The)(a)		18,810		3,182,088
				8,748,374
Interactive Media & Services – 2.5%
Adevinta ASA - Class B(a)		2,672		45,789
Alphabet, Inc. - Class A(a)		3,120		8,341,382
Alphabet, Inc. - Class C(a)		2,950		7,862,665
Auto Trader Group PLC		9,422		74,304
Facebook, Inc. - Class A(a)		24,810		8,420,266
Kakaku.com, Inc.		1,310		42,304
Match Group, Inc.(a)		2,861		449,148

19

Company	Shares		U.S. $ Value
REA Group Ltd.		555	$	62,510
Scout24 AG(c)		932		64,732
SEEK Ltd.(b)		3,270		71,885
Twitter, Inc.(a)		8,260		498,821
Z Holdings Corp.		25,876		165,608
				26,099,414
Media – 0.2%
CyberAgent, Inc.		3,945		76,109
Dentsu Group, Inc.		2,109		81,143
Discovery, Inc. - Class A(a)		1,740		44,161
Discovery, Inc. - Class C(a)		3,110		75,480
DISH Network Corp. - Class A(a)		2,570		111,692
Fox Corp. - Class A		3,380		135,572
Fox Corp. - Class B		1,570		58,278
Hakuhodo DY Holdings, Inc.(b)		2,278		39,202
Informa PLC(a)		14,650		107,735
Interpublic Group of Cos., Inc. (The)		4,070		149,247
News Corp. - Class A		4,050		95,297
News Corp. - Class B		1,260		29,270
Omnicom Group, Inc.		2,220		160,861
Pearson PLC		7,350		70,488
Publicis Groupe SA		2,251		151,217
Schibsted ASA		713		33,845
Schibsted ASA - Class B		949		40,362
ViacomCBS, Inc. - Class B		6,270		247,728
Vivendi SE		7,089		89,250
WPP PLC		11,950		160,101
				1,957,038
Wireless Telecommunication Services – 0.2%
KDDI Corp.		16,055		528,580
Softbank Corp.		28,591		387,831
SoftBank Group Corp.		12,482		721,276
T-Mobile US, Inc.(a)		6,060		774,225
Tele2 AB - Class B(b)		4,884		72,316
Vodafone Group PLC		267,115		406,467
				2,890,695
				50,993,208
Consumer Staples – 3.7%
Beverages – 0.8%
Anheuser-Busch InBev SA/NV		7,585		430,201
Asahi Group Holdings Ltd.		4,558		219,948
Brown-Forman Corp. - Class B		1,890		126,649
Budweiser Brewing Co. APAC Ltd.(c)		16,791		42,650
Carlsberg AS - Class B		1,031		168,201
Coca-Cola Co. (The)		40,180		2,108,245
Coca-Cola Europacific Partners PLC		2,081		115,058
Coca-Cola HBC AG(a)		1,954		62,966
Constellation Brands, Inc. - Class A		1,750		368,707
Davide Campari-Milano NV		5,098		71,613
Diageo PLC		23,290		1,127,586
Heineken Holding NV		1,173		102,140
Heineken NV(b)		2,581		269,391

20

Company	Shares		U.S. $ Value
Ito En Ltd.		522	$	34,627
Kirin Holdings Co., Ltd.		8,022		148,887
Molson Coors Beverage Co. - Class B		1,950		90,441
Monster Beverage Corp.(a)		3,830		340,219
PepsiCo, Inc.		14,300		2,150,863
Pernod Ricard SA		2,086		459,886
Remy Cointreau SA		246		47,730
Suntory Beverage & Food Ltd.		1,356		56,213
Treasury Wine Estates Ltd.		7,036		62,043
				8,604,264
Food & Staples Retailing – 0.7%
Aeon Co., Ltd.(b)		6,562		172,515
Carrefour SA		5,980		107,170
Coles Group Ltd.		13,009		158,020
Cosmos Pharmaceutical Corp.		230		39,061
Costco Wholesale Corp.		4,580		2,058,023
Endeavour Group Ltd./Australia(a)		13,351		66,810
Etablissements Franz Colruyt NV(b)		531		27,087
ICA Gruppen AB(b)		980		44,962
J Sainsbury PLC		16,271		62,363
Jeronimo Martins SGPS SA		2,454		48,921
Kesko Oyj - Class B		2,795		96,409
Kobe Bussan Co., Ltd.		1,334		43,587
Koninklijke Ahold Delhaize NV		10,409		346,600
Kroger Co. (The)		7,830		316,567
Lawson, Inc.		489		24,021
Ocado Group PLC(a)		4,746		106,063
Seven & i Holdings Co., Ltd.		7,500		341,433
Sysco Corp.		5,290		415,265
Tesco PLC		75,407		256,809
Tsuruha Holdings, Inc.		428		52,782
Walgreens Boots Alliance, Inc.		7,420		349,111
Walmart, Inc.		14,210		1,980,590
Welcia Holdings Co., Ltd.		920		33,159
Wm Morrison Supermarkets PLC		23,501		93,254
Woolworths Group Ltd.		12,596		353,800
				7,594,382
Food Products – 0.8%
a2 Milk Co., Ltd. (The)(a) (b)		7,242		32,067
Ajinomoto Co., Inc.		4,552		134,511
Archer-Daniels-Midland Co.		5,780		346,858
Associated British Foods PLC		3,474		86,477
Barry Callebaut AG		37		83,918
Campbell Soup Co.		2,100		87,801
Chocoladefabriken Lindt & Spruengli AG		11		122,989
Chocoladefabriken Lindt & Spruengli AG (REG)		2		235,850
Conagra Brands, Inc.		4,960		167,995
Danone SA		6,493		442,679
General Mills, Inc.		6,310		377,464
Hershey Co. (The)		1,510		255,568
Hormel Foods Corp.		2,910		119,310
JDE Peet’s NV		731		21,846
JM Smucker Co. (The)		1,130		135,634
Kellogg Co.		2,600		166,192
Kerry Group PLC - Class A		1,587		213,243
Kikkoman Corp.		1,495		121,652

21

Company	Shares		U.S. $ Value
Kraft Heinz Co. (The)		6,710	$	247,062
Lamb Weston Holdings, Inc.		1,510		92,669
McCormick & Co., Inc./MD		2,570		208,247
MEIJI Holdings Co., Ltd.		1,274		82,367
Mondelez International, Inc. - Class A		14,540		845,937
Mowi ASA		4,286		108,894
Nestle SA		28,679		3,455,533
NH Foods Ltd.		803		30,325
Nisshin Seifun Group, Inc.		1,929		31,965
Nissin Foods Holdings Co., Ltd.(b)		618		49,591
Orkla ASA		7,325		67,230
Toyo Suisan Kaisha Ltd.		865		38,302
Tyson Foods, Inc. - Class A		3,050		240,767
WH Group Ltd.(c)		93,476		66,559
Wilmar International Ltd.		18,735		57,880
Yakult Honsha Co., Ltd.		1,339		67,782
				8,843,164
Household Products – 0.6%
Church & Dwight Co., Inc.		2,530		208,902
Clorox Co. (The)		1,290		213,637
Colgate-Palmolive Co.		8,750		661,325
Essity AB - Class B		6,084		188,689
Henkel AG & Co. KGaA		1,067		91,789
Henkel AG & Co. KGaA (Preference Shares)		1,785		165,128
Kimberly-Clark Corp.		3,490		462,216
Lion Corp.		2,187		35,373
Pigeon Corp.		1,127		26,200
Procter & Gamble Co. (The)		25,350		3,543,930
Reckitt Benckiser Group PLC		7,095		557,384
Unicharm Corp.		4,060		179,907
				6,334,480
Personal Products – 0.4%
Beiersdorf AG		1,025		110,598
Estee Lauder Cos., Inc. (The) - Class A		2,400		719,832
Kao Corp.		4,798		285,546
Kobayashi Pharmaceutical Co., Ltd.		520		41,227
Kose Corp.		357		42,696
L’Oreal SA		2,508		1,037,820
Pola Orbis Holdings, Inc.		893		20,555
Shiseido Co., Ltd.		3,982		267,628
Unilever PLC		26,172		1,416,908
				3,942,810
Tobacco – 0.4%
Altria Group, Inc.		19,160		872,163
British American Tobacco PLC		21,696		758,373
Imperial Brands PLC		9,460		197,871
Japan Tobacco, Inc.		11,967		234,485
Philip Morris International, Inc.		16,130		1,528,963
Swedish Match AB		15,819		138,523
				3,730,378
				39,049,478

22

Company	Shares		U.S. $ Value
Materials – 2.1%
Chemicals – 1.2%
Air Liquide SA		4,716	$	755,315
Air Products and Chemicals, Inc.		2,290		586,492
Akzo Nobel NV		1,899		207,494
Albemarle Corp.		1,210		264,954
Arkema SA		638		84,131
Asahi Kasei Corp.		12,235		131,111
BASF SE		9,143		693,133
Celanese Corp. - Class A		1,160		174,742
CF Industries Holdings, Inc.		2,220		123,920
Chr Hansen Holding A/S		1,083		88,462
Clariant AG(a)		2,104		39,493
Corteva, Inc.		7,630		321,070
Covestro AG(c)		1,961		133,644
Croda International PLC		1,409		161,439
Dow, Inc.		7,730		444,939
DuPont de Nemours, Inc.		5,510		374,625
Eastman Chemical Co.		1,410		142,043
Ecolab, Inc.		2,570		536,153
EMS-Chemie Holding AG		74		69,917
Evonik Industries AG		2,045		64,126
FMC Corp.		1,330		121,775
Fuchs Petrolub SE		677		31,698
Givaudan SA		92		419,436
ICL Group Ltd.		6,870		50,064
International Flavors & Fragrances, Inc.		2,570		343,660
Johnson Matthey PLC		1,887		67,700
JSR Corp.		1,984		71,317
Kansai Paint Co., Ltd.		1,728		42,866
Koninklijke DSM NV(b)		1,716		343,159
LANXESS AG		882		59,609
Linde PLC		5,390		1,581,318
LyondellBasell Industries NV - Class A		2,660		249,641
Mitsubishi Chemical Holdings Corp.		12,487		113,678
Mitsubishi Gas Chemical Co., Inc.		1,541		30,388
Mitsui Chemicals, Inc.		1,795		59,969
Mosaic Co. (The)		3,570		127,520
Nippon Paint Holdings Co., Ltd.		6,935		75,523
Nippon Sanso Holdings Corp.		1,478		37,040
Nissan Chemical Corp.		1,202		70,301
Nitto Denko Corp.		1,537		109,414
Novozymes A/S - Class B		2,096		143,683
Orica Ltd.(b)		3,968		38,757
PPG Industries, Inc.		2,450		350,375
Sherwin-Williams Co. (The)		2,480		693,730
Shin-Etsu Chemical Co., Ltd.		3,526		595,079
Sika AG		1,412		446,436
Solvay SA		761		94,400
Sumitomo Chemical Co., Ltd.(b)		14,531		75,420
Symrise AG		1,290		169,082
Toray Industries, Inc.		13,525		85,940
Tosoh Corp.		2,536		45,957
Umicore SA(b)		2,004		118,556
Yara International ASA		1,791		88,719
				12,349,413

23

Company	Shares		U.S. $ Value
Construction Materials – 0.1%
CRH PLC		7,815	$	368,828
HeidelbergCement AG		1,509		112,576
Holcim Ltd.(a)		5,212		251,140
James Hardie Industries PLC		4,482		158,982
Martin Marietta Materials, Inc.		650		222,092
Vulcan Materials Co.		1,370		231,749
				1,345,367
Containers & Packaging – 0.1%
AMCOR PLC		15,960		184,976
Avery Dennison Corp.		860		178,201
Ball Corp.		3,390		304,998
International Paper Co.		4,050		226,476
Packaging Corp. of America		980		134,691
Sealed Air Corp.		1,570		86,020
Smurfit Kappa Group PLC		2,481		130,621
Westrock Co.		2,750		137,033
				1,383,016
Metals & Mining – 0.6%
Anglo American PLC		12,891		451,812
Antofagasta PLC		3,846		69,892
ArcelorMittal SA		7,149		218,850
BHP Group Ltd.(b)		29,324		783,181
BHP Group PLC		21,024		529,686
BlueScope Steel Ltd.		4,913		71,187
Boliden AB		2,796		89,529
Evolution Mining Ltd.(b)		16,664		42,135
Evraz PLC		4,973		39,456
Fortescue Metals Group Ltd.		16,856		179,550
Freeport-McMoRan, Inc.		15,170		493,480
Glencore PLC(a)		99,475		467,941
Hitachi Metals Ltd.(a)		2,091		40,380
JFE Holdings, Inc.		4,794		71,892
Newcrest Mining Ltd.		7,963		132,008
Newmont Corp.		8,290		450,147
Nippon Steel Corp.		8,341		150,021
Norsk Hydro ASA		13,116		97,898
Northern Star Resources Ltd.		10,779		66,018
Nucor Corp.		3,090		304,334
Rio Tinto Ltd.		3,696		263,122
Rio Tinto PLC		11,172		732,348
South32 Ltd.		46,626		115,704
Sumitomo Metal Mining Co., Ltd.		2,536		91,703
voestalpine AG		1,131		41,778
				5,994,052
Paper & Forest Products – 0.1%
Mondi PLC		4,735		116,036
Oji Holdings Corp.		7,914		39,876
Stora Enso Oyj - Class R		5,673		94,492
Svenska Cellulosa AB SCA - Class B		5,909		91,578
UPM-Kymmene Oyj		5,334		188,793
				530,775
				21,602,623

24

Company	Shares		U.S. $ Value
Energy – 1.5%
Energy Equipment & Services – 0.1%
Baker Hughes Co. - Class A		7,530	$	186,217
Halliburton Co.		9,210		199,120
Schlumberger NV		14,470		428,891
Tenaris SA		4,605		48,440
				862,668
Oil, Gas & Consumable Fuels – 1.4%
Ampol Ltd.		2,324		46,381
APA Corp.		3,910		83,791
BP PLC		202,541		922,544
Cabot Oil & Gas Corp.		4,130		89,869
Chevron Corp.		20,010		2,030,015
ConocoPhillips		13,970		946,747
Devon Energy Corp.		6,160		218,742
Diamondback Energy, Inc.		1,870		177,033
ENEOS Holdings, Inc.		29,929		121,582
Eni SpA		25,123		335,020
EOG Resources, Inc.		6,040		484,831
Equinor ASA		9,764		248,306
Exxon Mobil Corp.		43,830		2,578,081
Galp Energia SGPS SA		4,888		55,518
Hess Corp.		2,840		221,832
Idemitsu Kosan Co., Ltd.		2,033		53,481
Inpex Corp.		9,983		77,731
Kinder Morgan, Inc.		20,160		337,277
Koninklijke Vopak NV(b)		674		26,557
Lundin Energy AB		1,952		72,461
Marathon Oil Corp.		8,160		111,547
Marathon Petroleum Corp.		6,590		407,328
Neste Oyj		4,212		237,609
Occidental Petroleum Corp.		8,690		257,050
Oil Search Ltd.		19,252		59,912
OMV AG		1,523		91,708
ONEOK, Inc.		4,610		267,334
Phillips 66		4,530		317,236
Pioneer Natural Resources Co.		2,400		399,624
Repsol SA		14,527		189,629
Royal Dutch Shell PLC - Class A		40,825		907,914
Royal Dutch Shell PLC - Class B		36,892		817,402
Santos Ltd.(b)		18,284		93,651
TotalEnergies SE		24,869		1,188,687
Valero Energy Corp.		4,230		298,511
Williams Cos., Inc. (The)		12,570		326,066
Woodside Petroleum Ltd.(b)		9,384		160,460
				15,259,467
				16,122,135
Utilities – 1.4%
Electric Utilities – 0.9%
Alliant Energy Corp.		2,590		144,988
American Electric Power Co., Inc.		5,170		419,701
AusNet Services Ltd.(b)		18,536		33,551
Chubu Electric Power Co., Inc.		6,283		74,257
CK Infrastructure Holdings Ltd.		6,463		36,048
CLP Holdings Ltd.		16,016		154,209
Duke Energy Corp.		7,960		776,816

25

Company	Shares		U.S. $ Value
Edison International		3,920	$	217,442
EDP - Energias de Portugal SA		27,074		142,223
Electricite de France SA		4,535		56,987
Elia Group SA/NV(b)		301		35,970
Endesa SA		3,097		62,459
Enel SpA		80,961		621,393
Entergy Corp.		2,070		205,572
Evergy, Inc.		2,370		147,414
Eversource Energy		3,550		290,248
Exelon Corp.		10,110		488,717
FirstEnergy Corp.		5,630		200,541
Fortum Oyj		4,331		131,515
HK Electric Investments & HK Electric Investments Ltd. - Class SS(c)		25,853		25,672
Iberdrola SA		58,936		592,921
Kansai Electric Power Co., Inc. (The)		6,866		66,533
Mercury NZ Ltd.		6,643		29,710
NextEra Energy, Inc.		20,300		1,593,956
NRG Energy, Inc.		2,530		103,300
Origin Energy Ltd.		17,177		57,629
Orsted AS(c)		1,883		248,207
Pinnacle West Capital Corp.		1,160		83,938
Power Assets Holdings Ltd.		13,530		79,314
PPL Corp.		7,960		221,925
Red Electrica Corp. SA		4,221		84,683
Southern Co. (The)		10,960		679,191
SSE PLC		10,403		219,036
Terna - Rete Elettrica Nazionale(b)		13,722		97,382
Tohoku Electric Power Co., Inc.(b)		4,168		30,640
Tokyo Electric Power Co. Holdings, Inc.(a)		14,889		42,393
Verbund AG		716		72,413
Xcel Energy, Inc.		5,570		348,125
				8,917,019
Gas Utilities – 0.1%
APA Group(b)		11,507		71,675
Atmos Energy Corp.		1,350		119,070
Enagas SA(b)		2,427		53,938
Hong Kong & China Gas Co., Ltd.		109,193		164,979
Naturgy Energy Group SA		2,836		71,385
Osaka Gas Co., Ltd.		3,657		66,824
Snam SpA		19,667		108,795
Toho Gas Co., Ltd.		720		31,316
Tokyo Gas Co., Ltd.		3,667		68,233
				756,215
Independent Power and Renewable Electricity Producers – 0.0%
AES Corp. (The)		6,890		157,299
EDP Renovaveis SA		2,810		69,721
Meridian Energy Ltd.		12,496		42,259
Uniper SE		892		37,133
				306,412
Multi-Utilities – 0.4%
AGL Energy Ltd.(b)		6,076		25,092
Ameren Corp.		2,640		213,840
CenterPoint Energy, Inc.		6,010		147,846

26

Company	Shares		U.S. $ Value
CMS Energy Corp.		2,990	$	178,593
Consolidated Edison, Inc.		3,540		256,969
Dominion Energy, Inc.		8,350		609,717
DTE Energy Co.		2,000		223,420
E.ON SE		22,348		272,773
Engie SA		18,181		237,865
National Grid PLC		35,329		420,970
NiSource, Inc.		4,060		98,374
Public Service Enterprise Group, Inc.		5,220		317,898
RWE AG		6,401		225,753
Sempra Energy		3,260		412,390
Suez SA		3,370		76,843
United Utilities Group PLC		6,650		86,552
Veolia Environnement SA		5,417		165,521
WEC Energy Group, Inc.		3,260		287,532
				4,257,948
Water Utilities – 0.0%
American Water Works Co., Inc.		1,880		317,795
Severn Trent PLC		2,329		81,536
				399,331
				14,636,925
Real Estate – 1.4%
Equity Real Estate Investment Trusts (REITs) – 1.1%
Alexandria Real Estate Equities, Inc.		1,420		271,319
American Tower Corp.		4,710		1,250,081
Ascendas Real Estate Investment Trust		31,372		69,149
AvalonBay Communities, Inc.		1,440		319,162
Boston Properties, Inc.		1,470		159,275
British Land Co. PLC (The)		8,586		56,973
CapitaLand Integrated Commercial Trust		48,175		71,735
Covivio		563		47,313
Crown Castle International Corp.		4,470		774,740
Daiwa House REIT Investment Corp.		21		61,670
Dexus		10,592		81,522
Digital Realty Trust, Inc.		2,910		420,350
Duke Realty Corp.		3,880		185,736
Equinix, Inc.		930		734,821
Equity Residential		3,560		288,075
Essex Property Trust, Inc.		670		214,226
Extra Space Storage, Inc.		1,380		231,826
Federal Realty Investment Trust		730		86,133
Gecina SA		480		64,577
GLP J-Reit		43		70,781
Goodman Group		16,550		254,656
GPT Group (The)		18,998		68,429
Healthpeak Properties, Inc.		5,580		186,818
Host Hotels & Resorts, Inc.(a)		7,310		119,372
Iron Mountain, Inc.		2,980		129,481
Japan Metropolitan Fund Invest		73		70,095
Japan Real Estate Investment Corp.		13		77,977
Kimco Realty Corp.		4,480		92,960
Klepierre SA(a)		2,012		44,995
Land Securities Group PLC		6,870		64,031
Link REIT		20,304		173,870
Mapletree Commercial Trust(a)		21,022		31,858
Mapletree Logistics Trust(a)		29,241		43,713

27

Company	Shares		U.S. $ Value
Mid-America Apartment Communities, Inc.		1,180	$	220,365
Mirvac Group		38,402		81,461
Nippon Building Fund, Inc.		15		97,452
Nippon Prologis REIT, Inc.		22		73,525
Nomura Real Estate Master Fund, Inc.		45		64,767
Orix JREIT, Inc.		28		48,730
Prologis, Inc.		7,650		959,540
Public Storage		1,580		469,418
Realty Income Corp.		3,860		250,360
Regency Centers Corp.		1,630		109,748
SBA Communications Corp.		1,130		373,544
Scentre Group(b)		50,621		107,740
Segro PLC		11,621		186,678
Simon Property Group, Inc.		3,400		441,898
Stockland		23,281		73,828
UDR, Inc.		3,070		162,649
United Urban Investment Corp.		32		43,250
Ventas, Inc.		3,880		214,215
Vicinity Centres(b)		37,738		44,615
Vornado Realty Trust		1,620		68,056
Welltower, Inc.		4,320		355,968
Weyerhaeuser Co.		7,750		275,668
				11,541,194
Real Estate Management & Development – 0.3%
Aroundtown SA		9,743		67,119
Azrieli Group Ltd.		413		37,178
Capitaland Investment Ltd.(a)		25,733		64,437
CBRE Group, Inc. - Class A(a)		3,470		337,839
City Developments Ltd.		3,990		20,194
CK Asset Holdings Ltd.		19,561		112,863
Daito Trust Construction Co., Ltd.		683		80,121
Daiwa House Industry Co., Ltd.		5,688		189,610
Deutsche Wohnen SE		3,334		203,856
ESR Cayman Ltd.(a) (c)		19,397		58,542
Fastighets AB Balder - Class B(a) (b)		1,102		66,226
Hang Lung Properties Ltd.		19,740		44,988
Henderson Land Development Co., Ltd.		14,165		54,088
Hongkong Land Holdings Ltd.		11,381		54,363
Hulic Co., Ltd.		2,629		29,278
LEG Immobilien SE		737		104,104
Lendlease Corp Ltd.(b)		6,713		51,613
Mitsubishi Estate Co., Ltd.		11,534		183,654
Mitsui Fudosan Co., Ltd.(b)		9,155		217,476
New World Development Co., Ltd.		14,856		60,423
Nomura Real Estate Holdings, Inc.		1,129		29,352
Sino Land Co., Ltd.		32,155		43,258
Sumitomo Realty & Development Co., Ltd.		3,018		110,311
Sun Hung Kai Properties Ltd.		12,717		158,789
Swire Pacific Ltd. - Class A		4,855		28,727
Swire Properties Ltd.		11,411		28,613
Swiss Prime Site AG		791		77,266
Unibail-Rodamco-Westfield(a)		1,271		93,665
UOL Group Ltd.		4,527		22,764
Vonovia SE		5,352		321,753

28

Company	Shares		U.S. $ Value
Wharf Real Estate Investment Co., Ltd.		16,286	$	83,676
				3,036,146
				14,577,340
Total Common Stocks (cost $546,970,605)				545,303,124
	Principal Amount (000)
INFLATION-LINKED SECURITIES – 0.7%
Japan – 0.7%
Japanese Government CPI Linked Bond Series 22 0.10%, 03/10/2027 (cost $7,374,201)	JPY	783,789		7,253,716
	Notional Amount
OPTIONS PURCHASED - CALLS – 0.4%
Options on Equity Indices – 0.4%
Euro STOXX 50 Index Expiration: Oct 2021; Contracts: 671; Exercise Price: EUR 4,075.00; Counterparty: Morgan Stanley & Co., Inc.(a)	EUR	27,343,250		526,977
FTSE 100 Index Expiration: Oct 2021; Contracts: 132; Exercise Price: GBP 6,900.00; Counterparty: Morgan Stanley & Co., Inc.(a)	GBP	9,108,000		80,480
Nikkei 225 Index Expiration: Oct 2021; Contracts: 81; Exercise Price: JPY 29,500.00; Counterparty: Morgan Stanley & Co., Inc.(a)	JPY	2,389,500,000		196,505
S&P 500 Index Expiration: Oct 2021; Contracts: 386; Exercise Price: USD 4,340.00; Counterparty: Morgan Stanley & Co., Inc.(a)	USD	167,524,000		3,116,950
Total Options Purchased - Calls (premiums paid $2,833,875)				3,920,912
	Shares
RIGHTS – 0.0%
Utilities – 0.0%
Multi-Utilities – 0.0%
Veolia Environnement SA, expiring 10/01/2021(a) (e) (cost $0)		5,417		4,494

29

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 45.0%
Investment Companies – 45.0%
AB Fixed Income Shares, Inc. – Government Money Market Portfolio - Class AB, 0.01%(f) (g) (h) (cost $472,385,917)		472,385,917	$	472,385,917
Total Investments Before Security Lending Collateral for Securities Loaned – 98.0% (cost $1,029,564,598)				1,028,868,163
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%
Investment Companies – 0.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(f) (g) (h) (cost $4,633,097)		4,633,097		4,633,097
Total Investments – 98.4% (cost $1,034,197,695)(i)				1,033,501,260
Other assets less liabilities – 1.6%				16,849,466
Net Assets – 100.0%			$	1,050,350,726

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr Canadian Bond Futures		48		December 2021		$	5,424,917		$	(127,351	)
10 Yr Mini Japan Government Bond Futures		346		December 2021			47,099,151			(148,030	)
Euro STOXX 50 Index Futures		474		December 2021			22,225,862			(410,790	)
Euro-BOBL Futures		88		December 2021			13,754,061			(82,666	)
Euro-BTP Futures		123		December 2021			21,649,386			(292,215	)
Euro-Bund Futures		78		December 2021			15,343,457			(248,554	)
Euro-OAT Futures		139		December 2021			26,719,715			(465,477	)
FTSE 100 Index Futures		46		December 2021			4,384,184			15,577
Hang Seng Index Futures		29		October 2021			4,567,938			67,549
Japan 10 Yr Bond (OSE) Futures		54		December 2021			73,444,270			(325,402	)
Long Gilt Futures		362		December 2021			61,043,022			(1,629,519	)
MSCI EAFE Futures		4		December 2021			453,400			(7,253	)
MSCI Emerging Markets Futures		66		December 2021			4,110,480			(190,052	)
MSCI Singapore IX ETS Futures		57		October 2021			1,483,981			(6,119	)
Nikkei 225 (CME) Futures		90		December 2021			13,207,500			(133,666	)
OMXS 30 Index Futures		295		October 2021			7,592,853			(196,989	)
S&P 500 E-Mini Futures		484		December 2021			104,005,550			(4,380,056	)
S&P Mid 400 E-Mini Futures		5		December 2021			1,316,600			(22,915	)
S&P/TSX 60 Index Futures		96		December 2021			18,131,312			(572,135	)
TOPIX Index Futures		6		December 2021			1,094,658			3,084
U.S. T-Note 5 Yr (CBT) Futures		227		December 2021			27,862,477			(188,329	)
U.S. T-Note 10 Yr (CBT) Futures		861		December 2021			113,315,672			(1,205,232	)
U.S. Ultra Bond (CBT) Futures		59		December 2021			11,272,688			(288,158	)

30

Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation/ (Depreciation)
Sold Contracts
Hang Seng Futures		5		September 2021	$	786,323	$	(13,222	)
MSCI Singapore IX ETS Futures		135		September 2021		3,522,647		(12,131	)
MSCI Singapore IX ETS Futures		101		October 2021		2,629,511		2,882
SPI 200 Futures		41		December 2021		5,404,283		30,139
							$	(10,827,030	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		SEK	54,748		USD	6,345		10/13/2021	$	90,356
Bank of America, NA		CHF	2,513		USD	2,740		10/28/2021		42,006
Barclays Bank PLC		SEK	30,903		USD	3,560		10/13/2021		29,600
Barclays Bank PLC		USD	10,710		EUR	9,109		11/08/2021		(151,215	)
Barclays Bank PLC		JPY	1,179,785		USD	10,711		11/17/2021		107,439
Barclays Bank PLC		USD	10,795		CAD	13,649		11/19/2021		(19,437	)
Citibank, NA		SGD	1,908		USD	1,400		11/10/2021		(4,637	)
Morgan Stanley Capital Services, Inc.		USD	4,392		SEK	37,617		10/13/2021		(95,080	)
Morgan Stanley Capital Services, Inc.		USD	5,486		CHF	5,008		10/28/2021		(108,853	)
Morgan Stanley Capital Services, Inc.		EUR	28,697		USD	34,082		11/08/2021		819,386
Morgan Stanley Capital Services, Inc.		USD	10,977		EUR	9,232		11/08/2021		(275,980	)
Morgan Stanley Capital Services, Inc.		AUD	12,570		USD	9,067		11/09/2021		(21,919	)
Morgan Stanley Capital Services, Inc.		GBP	15,427		USD	21,164		11/10/2021		377,005
State Street Bank & Trust Co.		USD	17		NOK	149		10/13/2021		(4	)
State Street Bank & Trust Co.		USD	2,200		SEK	18,845		10/13/2021		(46,854	)
State Street Bank & Trust Co.		CHF	10,358		USD	11,482		10/28/2021		361,373
State Street Bank & Trust Co.		EUR	15,962		USD	18,691		11/08/2021		189,368
State Street Bank & Trust Co.		USD	5,489		EUR	4,611		11/08/2021		(144,392	)
State Street Bank & Trust Co.		GBP	4,379		USD	5,886		11/10/2021		(14,466	)
UBS AG		EUR	13,785		USD	16,160		11/08/2021		181,253
UBS AG		AUD	4,022		USD	2,926		11/09/2021		17,811
UBS AG		JPY	3,761,796		USD	34,355		11/17/2021		544,335
UBS AG		CAD	1,466		USD	1,145		11/19/2021		(12,707	)
									$	1,864,388

CALL OPTIONS WRITTEN

Description

Counterparty

Contracts

Exercise Price

Expiration Month

Notional (000)

Premiums Received

U.S. $ Value

Nikkei 225 Index(j)

Morgan Stanley & Co., Inc.

81

JPY

31,625.00

October 2021

JPY

2,561,625

$

110,014

$

(2,547

)

31

PUT OPTIONS WRITTEN

Description	Counterparty	Contracts		Exercise Price			Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index(k)	Morgan Stanley & Co., Inc.		671		EUR	3,875.00		October 2021		EUR	26,001	$	203,242	$	(165,943	)
FTSE 100 Index(k)	Morgan Stanley & Co., Inc.		132		GBP	6,550.00		October 2021		GBP	8,646		53,254		(23,566	)
Nikkei 225 Index(j)	Morgan Stanley & Co., Inc.		81		JPY	28,000.00		October 2021		JPY	2,268,000		84,243		(29,476	)
S&P 500 Index(l)	Morgan Stanley & Co., Inc.		386		USD	4,110.00		October 2021		USD	158,646		821,396		(847,270	)
												$	1,162,135	$	(1,066,255	)

VARIANCE SWAPS

Swap Counterparty & Referenced Obligation	Volatility Strike Rate			Payment Frequency		Notional Amount (000)			Market Value			Upfront Premiums (Paid)/ Received		Unrealized Appreciation/ (Depreciation)
Buy Contracts
Citibank, NA
USD/JPY 04/19/2022*		6.85	%		Maturity		USD	343	$	(59,595	)	$	—	$	(59,595	)

* Termination date

(a) Non-income producing security.

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

(c) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At September 30, 2021, the aggregate market value of these securities amounted to $3,220,548 or 0.3% of net assets.

(d) When-Issued or delayed delivery security.

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

(f) Affiliated investments.

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

(i) As of September 30, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $21,727,479 and gross unrealized depreciation of investments was $(31,242,804), resulting in net unrealized depreciation of $(9,515,325).

(j) One contract relates to 1000 shares.

(k) One contract relates to 10 shares.

(l) One contract relates to 100 shares.

Currency Abbreviations:

AUD – Australian Dollar

CAD – Canadian Dollar

CHF – Swiss Franc

EUR – Euro

GBP – Great British Pound

JPY – Japanese Yen

NOK – Norwegian Krone

SEK – Swedish Krona

SGD – Singapore Dollar

USD – United States Dollar

32

Glossary:

ADR – American Depositary Receipt

BOBL – Bundesobligationen

BTP – Buoni del Tesoro Poliennali

CBT – Chicago Board of Trade

CME – Chicago Mercantile Exchange

CPI – Consumer Price Index

EAFE – Europe, Australia, and Far East

ETS – Emission Trading Scheme

FTSE – Financial Times Stock Exchange

GDR – Global Depositary Receipt

OAT – Obligations Assimilables du Trésor

OMXS – Stockholm Stock Exchange

OSE – Osaka Securities Exchange

REG – Registered Shares

REIT – Real Estate Investment Trust

SPI – Share Price Index

TOPIX – Tokyo Price Index

TSX – Toronto Stock Exchange

COUNTRY BREAKDOWN1 September 30, 2021 (unaudited)
	37.1	%	United States
	4.6	%	Japan
	2.3	%	United Kingdom
	1.7	%	France
	1.5	%	Switzerland
	1.5	%	Germany
	1.2	%	Australia
	0.8	%	Netherlands
	0.6	%	Sweden
	0.4	%	Denmark
	0.4	%	Hong Kong
	0.4	%	Spain
	0.3	%	Italy
	1.3	%	Other
	45.9	%	Short-Term
	100.0	%	Total Investments

1 All data are as of September 30, 2021. The Portfolio’s country breakdown is expressed as a percentage of total investments and may vary over time. “Other” country weightings represent 0.2% or less in the following: Austria, Belgium, Brazil, Chile, China, Finland, Ireland, Israel, Jordan, Luxembourg, Macau, New Zealand, Norway, Poland, Portugal, Russia, Singapore, South Africa and Taiwan.

33

AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

September 30, 2021 (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, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

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

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Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of September 30, 2021:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Common Stocks:
Information Technology	$	104,805,772		$	15,916,049		$	—	$	120,721,821
Financials		43,908,538			28,346,788			—		72,255,326
Health Care		50,879,060			20,529,426			—		71,408,486
Consumer Discretionary		46,651,146			21,185,914			—		67,837,060
Industrials		30,658,943			25,439,779			—		56,098,722
Communication Services		43,930,482			7,062,726			—		50,993,208
Consumer Staples		22,953,460			16,096,018			—		39,049,478
Materials		9,511,314			12,091,309			—		21,602,623
Energy		10,367,142			5,754,993			—		16,122,135
Utilities		9,577,076			5,059,849			—		14,636,925
Real Estate		10,282,892			4,294,448			—		14,577,340
Inflation-Linked Securities		—			7,253,716			—		7,253,716
Options Purchased - Calls		—			3,920,912			—		3,920,912
Rights		—			—			4,494		4,494
Short-Term Investments		472,385,917			—			—		472,385,917
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		4,633,097			—			—		4,633,097
Total Investments in Securities		860,544,839			172,951,927			4,494		1,033,501,260
Other Financial Instruments(a):
Assets:
Futures		119,231			—			—		119,231
Forward Currency Exchange Contracts		—			2,759,932			—		2,759,932
Liabilities:
Futures		(10,946,261	)		—			—		(10,946,261	)
Forward Currency Exchange Contracts		—			(895,544	)		—		(895,544	)
Call Options Written		—			(2,547	)		—		(2,547	)
Put Options Written		—			(1,066,255	)		—		(1,066,255	)
Variance Swaps		—			(59,595	)		—		(59,595	)
Total	$	849,717,809		$	173,687,918		$	4,494	$	1,023,410,221

^(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.

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A summary of the Portfolio’s transactions in AB mutual funds for the nine months ended September 30, 2021 is as follows:

Fund	Market Value 12/31/2020 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 09/30/2021 (000)		Dividend Income (000)
Government Money Market Portfolio	$	12,180	$	1,068,652	$	608,446	$	472,386	$	15
Government Money Market Portfolio*		0		70,295		65,662		4,633		0	**
Total	$	12,180	$	1,138,947	$	674,108	$	477,019	$	15

* Investments of cash collateral for securities lending transactions.

** Amount less than $500.

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