Ab Variable Products Series Fund NPORT-P AB Global Risk Allocation-Moderate Portfolio (Sep 2023 report)

AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

Portfolio of Investments

September 30, 2023 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 72.3%
Information Technology – 15.8%
Communications Equipment – 0.5%
Arista Networks, Inc.(a)		2,705	$	497,531
Cisco Systems, Inc.		43,961		2,363,343
F5, Inc.(a)		640		103,130
Juniper Networks, Inc.		3,467		96,348
Motorola Solutions, Inc.		1,802		490,576
Nokia Oyj		57,110		214,738
Telefonaktiebolaget LM Ericsson - Class B(b)		31,254		152,262
				3,917,928
Electronic Equipment, Instruments & Components – 0.6%
Amphenol Corp. - Class A		6,419		539,132
Azbil Corp.		1,243		37,973
CDW Corp./DE		1,446		291,745
Corning, Inc.		8,282		252,352
Halma PLC		4,008		94,431
Hamamatsu Photonics KK		1,510		63,501
Hexagon AB - Class B		21,950		186,811
Hirose Electric Co., Ltd.		326		37,709
Ibiden Co., Ltd.		1,205		63,914
Keyence Corp.		2,077		768,128
Keysight Technologies, Inc.(a)		1,924		254,564
Kyocera Corp.		3,417		173,234
Murata Manufacturing Co., Ltd.		18,414		335,911
Omron Corp.		1,854		82,506
Shimadzu Corp.		2,567		68,090
TDK Corp.		4,191		154,942
TE Connectivity Ltd.		3,387		418,396
Teledyne Technologies, Inc.(a)		508		207,559
Trimble, Inc.(a)		2,679		144,291
Yaskawa Electric Corp.(b)		2,574		92,692
Yokogawa Electric Corp.		2,300		44,392
Zebra Technologies Corp. - Class A(a)		554		131,038
				4,443,311
IT Services – 0.8%
Accenture PLC - Class A		6,805		2,089,884
Akamai Technologies, Inc.(a)		1,640		174,726
Bechtle AG		933		43,450
Capgemini SE		1,767		308,331
Cognizant Technology Solutions Corp. - Class A		5,448		369,047
DXC Technology Co.(a)		2,213		46,097
EPAM Systems, Inc.(a)		625		159,806
Fujitsu Ltd.		1,902		223,696
Gartner, Inc.(a)		850		292,068
International Business Machines Corp.		9,828		1,378,868
NEC Corp.		2,617		144,518
Nomura Research Institute Ltd.		4,139		107,580
NTT Data Corp.		6,709		89,775
Obic Co., Ltd.(b)		765		115,913
Otsuka Corp.		1,284		54,324
SCSK Corp.		1,574		27,442
TIS, Inc.		2,330		51,235
VeriSign, Inc.(a)		968		196,049
Wix.com Ltd.(a)		571		52,418
				5,925,227

1

Company	Shares		U.S. $ Value
Semiconductors & Semiconductor Equipment – 4.5%
Advanced Micro Devices, Inc.(a)		17,429	$	1,792,050
Advantest Corp.(b)		8,268		230,624
Analog Devices, Inc.		5,409		947,062
Applied Materials, Inc.		9,059		1,254,219
ASM International NV		502		209,631
ASML Holding NV		4,303		2,533,391
BE Semiconductor Industries NV		823		80,495
Broadcom, Inc.		4,452		3,697,742
Disco Corp.		1,001		184,941
Enphase Energy, Inc.(a)		1,471		176,741
First Solar, Inc.(a)		1,152		186,152
Infineon Technologies AG		13,946		461,902
Intel Corp.		45,179		1,606,113
KLA Corp.		1,475		676,524
Lam Research Corp.		1,438		901,295
Lasertec Corp.(b)		830		129,075
Microchip Technology, Inc.		5,872		458,310
Micron Technology, Inc.		11,816		803,842
Monolithic Power Systems, Inc.		515		237,930
NVIDIA Corp.		26,646		11,590,744
NXP Semiconductors NV		2,781		555,978
ON Semiconductor Corp.(a)		4,655		432,682
Qorvo, Inc.(a)		1,056		100,816
QUALCOMM, Inc.		12,039		1,337,051
Renesas Electronics Corp.(a)		13,459		205,586
Rohm Co., Ltd.		3,804		71,512
Skyworks Solutions, Inc.		1,719		169,476
SolarEdge Technologies, Inc.(a)		610		79,001
STMicroelectronics NV		7,364		317,558
SUMCO Corp.		3,702		48,174
Teradyne, Inc.		1,661		166,864
Texas Instruments, Inc.		9,795		1,557,503
Tokyo Electron Ltd.		5,034		687,605
				33,888,589
Software – 5.6%
Adobe, Inc.(a)		4,917		2,507,178
ANSYS, Inc.(a)		936		278,507	��
Autodesk, Inc.(a)		2,306		477,134
Cadence Design Systems, Inc.(a)		2,932		686,968
Check Point Software Technologies Ltd.(a)		1,022		136,212
CyberArk Software Ltd.(a)		466		76,317
Dassault Systemes SE		7,200		267,425
Fair Isaac Corp.(a)		268		232,766
Fortinet, Inc.(a)		7,032		412,638
Gen Digital, Inc.		6,070		107,318
Intuit, Inc.		3,021		1,543,550
Microsoft Corp.		80,150		25,307,362
Monday.com Ltd.(a)		232		36,939
Nemetschek SE		648		39,436

2

Company	Shares		U.S. $ Value
Nice Ltd.(a)		687	$	117,174
Oracle Corp.		16,983		1,798,839
Oracle Corp. Japan		456		33,778
Palo Alto Networks, Inc.(a)		3,299		773,418
PTC, Inc.(a)		1,282		181,634
Roper Technologies, Inc.		1,151		557,406
Sage Group PLC (The)		10,941		131,663
Salesforce, Inc.(a)		10,507		2,130,609
SAP SE		11,146		1,442,761
ServiceNow, Inc.(a)		2,201		1,230,271
Synopsys, Inc.(a)		1,641		753,170
Temenos AG (REG)		677		47,350
Trend Micro, Inc./Japan		1,437		54,395
Tyler Technologies, Inc.(a)		454		175,308
WiseTech Global Ltd.		1,755		72,851
Xero Ltd.(a)		1,583		113,846
				41,724,223
Technology Hardware, Storage & Peripherals – 3.8%
Apple, Inc.		158,537		27,143,120
Brother Industries Ltd.		2,377		38,289
Canon, Inc.(b)		10,709		257,965
FUJIFILM Holdings Corp.		4,033		233,311
Hewlett Packard Enterprise Co.		13,933		242,016
HP, Inc.		9,360		240,552
Logitech International SA (REG)		1,812		124,663
NetApp, Inc.		2,274		172,551
Ricoh Co., Ltd.		5,799		50,033
Seagate Technology Holdings PLC		2,081		137,242
Seiko Epson Corp.(b)		3,139		49,297
Western Digital Corp.(a)		3,451		157,469
				28,846,508
				118,745,786
Financials – 10.6%
Banks – 3.7%
ABN AMRO Bank NV(c)		4,207		59,456
AIB Group PLC		15,373		68,905
ANZ Group Holdings Ltd.		32,077		526,116
Banco Bilbao Vizcaya Argentaria SA		63,278		512,104
Banco Santander SA		172,173		655,647
Bank Hapoalim BM		13,559		120,805
Bank Leumi Le-Israel BM		15,840		131,248
Bank of America Corp.		74,579		2,041,973
Bank of Ireland Group PLC		11,086		108,372
Banque Cantonale Vaudoise (REG)(b)		317		33,171
Barclays PLC		164,047		316,189
BNP Paribas SA		11,199		712,103
BOC Hong Kong Holdings Ltd.		39,083		106,691
CaixaBank SA		43,625		173,802
Chiba Bank Ltd. (The)		5,340		38,795
Citigroup, Inc.		20,774		854,435
Citizens Financial Group, Inc.		5,095		136,546
Comerica, Inc.		1,422		59,084
Commerzbank AG		11,361		128,940

3

Company	Shares		U.S. $ Value
Commonwealth Bank of Australia		17,936	$	1,145,681
Concordia Financial Group Ltd.		10,968		49,965
Credit Agricole SA		12,536		154,128
Danske Bank A/S		7,403		171,794
DBS Group Holdings Ltd.		19,478		478,373
DNB Bank ASA		9,890		198,708
Erste Group Bank AG		3,629		125,334
Fifth Third Bancorp		7,345		186,049
FinecoBank Banca Fineco SpA		6,517		78,694
Hang Seng Bank Ltd.		8,009		99,371
HSBC Holdings PLC		210,563		1,647,736
Huntington Bancshares, Inc./OH		15,619		162,438
ING Groep NV		38,632		509,172
Intesa Sanpaolo SpA		165,870		424,829
Israel Discount Bank Ltd. - Class A		12,463		67,551
Japan Post Bank Co., Ltd.		14,977		130,327
JPMorgan Chase & Co.		31,350		4,546,377
KBC Group NV		2,670		166,225
KeyCorp		10,096		108,633
Lloyds Banking Group PLC		687,389		369,399
M&T Bank Corp.		1,790		226,345
Mediobanca Banca di Credito Finanziario SpA		5,771		76,085
Mitsubishi UFJ Financial Group, Inc.		121,879		1,032,822
Mizrahi Tefahot Bank Ltd.		1,725		62,643
Mizuho Financial Group, Inc.		25,812		438,235
National Australia Bank Ltd.		33,509		622,072
NatWest Group PLC		60,628		173,430
Nordea Bank Abp (Stockholm)		34,219		375,168
Oversea-Chinese Banking Corp., Ltd.		36,043		337,076
PNC Financial Services Group, Inc. (The)		4,296		527,420
Regions Financial Corp.		10,123		174,116
Resona Holdings, Inc.		22,172		122,593
Shizuoka Financial Group, Inc.		4,497		36,648
Skandinaviska Enskilda Banken AB - Class A		16,831		200,657
Societe Generale SA		7,691		186,104
Standard Chartered PLC		25,196		231,741
Sumitomo Mitsui Financial Group, Inc.		13,558		666,051
Sumitomo Mitsui Trust Holdings, Inc.		3,559		133,986
Svenska Handelsbanken AB - Class A		15,192		135,177
Swedbank AB - Class A		8,976		164,991
Truist Financial Corp.		14,369		411,097
UniCredit SpA		19,698		469,332
United Overseas Bank Ltd.		13,375		278,576
US Bancorp		16,796		555,276
Wells Fargo & Co.		39,470		1,612,744
Westpac Banking Corp.		37,463		506,408
Zions Bancorp NA		1,598		55,754
				27,417,713
Capital Markets – 2.0%
3i Group PLC		10,347		260,441
Abrdn PLC		19,986		37,761
Ameriprise Financial, Inc.		1,107		364,956
Amundi SA(c)		691		38,811
ASX Ltd.		2,054		75,131
Bank of New York Mellon Corp. (The)		8,401		358,303
BlackRock, Inc.		1,514		978,786
Blackstone, Inc.		7,657		820,371
Cboe Global Markets, Inc.		1,138		177,767
Charles Schwab Corp. (The)		16,041		880,651

4

Company	Shares		U.S. $ Value
CME Group, Inc.		3,881	$	777,054
Daiwa Securities Group, Inc.(b)		13,519		77,958
Deutsche Bank AG (REG)		20,492		225,213
Deutsche Boerse AG		2,031		350,747
EQT AB(b)		3,703		72,960
Euronext NV(c)		936		65,107
FactSet Research Systems, Inc.		412		180,151
Franklin Resources, Inc.		3,068		75,411
Futu Holdings Ltd. (ADR)(a), (b)		656		37,923
Goldman Sachs Group, Inc. (The)		3,556		1,150,615
Hargreaves Lansdown PLC		3,584		33,707
Hong Kong Exchanges & Clearing Ltd.		12,930		479,868
Intercontinental Exchange, Inc.		6,174		679,264
Invesco Ltd.		4,840		70,277
Japan Exchange Group, Inc.(b)		5,165		95,688
Julius Baer Group Ltd.		2,199		140,753
London Stock Exchange Group PLC		4,295		430,470
Macquarie Group Ltd.		3,930		420,856
MarketAxess Holdings, Inc.		406		86,738
Moody’s Corp.		1,702		538,121
Morgan Stanley		13,764		1,124,106
MSCI, Inc.		853		437,657
Nasdaq, Inc.		3,657		177,694
Nomura Holdings, Inc.		32,077		128,450
Northern Trust Corp.		2,233		155,149
Partners Group Holding AG		245		275,036
Raymond James Financial, Inc.		2,028		203,672
S&P Global, Inc.		3,510		1,282,589
SBI Holdings, Inc.(b)		2,467		51,920
Schroders PLC		8,348		41,250
Singapore Exchange Ltd.		8,880		63,172
St. James’s Place PLC		5,807		58,587
State Street Corp.		3,437		230,142
T. Rowe Price Group, Inc.		2,420		253,785
UBS Group AG (REG)(a)		35,105		864,713
				15,329,781
Consumer Finance – 0.2%
American Express Co.		6,276		936,316
Capital One Financial Corp.		4,115		399,361
Discover Financial Services		2,696		233,555
Synchrony Financial		4,511		137,901
				1,707,133
Financial Services – 2.5%
Adyen NV(a), (b), (c)		233		172,754
Berkshire Hathaway, Inc. - Class B(a)		19,673		6,891,452
Edenred SE		2,691		168,338
Eurazeo SE		464		27,610
EXOR NV(b)		1,169		103,397
Fidelity National Information Services, Inc.		6,391		353,231
Fiserv, Inc.(a)		6,576		742,825
FleetCor Technologies, Inc.(a)		798		203,761
Global Payments, Inc.		2,805		323,669
GMO Payment Gateway, Inc.		481		26,245
Groupe Bruxelles Lambert NV(b)		1,018		75,750

5

Company	Shares		U.S. $ Value
Industrivarden AB - Class A		1,313	$	34,623
Industrivarden AB - Class C		1,637		43,137
Investor AB - Class B		18,560		355,322
Jack Henry & Associates, Inc.		786		118,796
L E Lundbergforetagen AB - Class B(b)		871		36,317
M&G PLC		22,056		52,844
Mastercard, Inc. - Class A		8,976		3,553,688
Mitsubishi HC Capital, Inc.(b)		8,514		56,729
Nexi SpA(a), (c)		6,113		37,247
ORIX Corp.		12,381		231,183
PayPal Holdings, Inc.(a)		11,845		692,459
Sofina SA		177		35,774
Visa, Inc. - Class A		17,334		3,986,993
Wendel SE		317		25,057
Wise PLC - Class A(a)		6,500		54,206
Worldline SA/France(a), (c)		2,518		70,684
				18,474,091
Insurance – 2.2%
Admiral Group PLC		2,244		64,851
Aegon NV(b)		18,011		86,808
Aflac, Inc.		5,832		447,606
Ageas SA/NV		1,677		69,070
AIA Group Ltd.		123,105		995,568
Allianz SE (REG)		4,305		1,024,487
Allstate Corp. (The)		2,822		314,399
American International Group, Inc.		7,680		465,408
Aon PLC - Class A		2,188		709,393
Arch Capital Group Ltd.(a)		4,023		320,673
Arthur J Gallagher & Co.		2,325		529,937
ASR Nederland NV		1,706		63,834
Assicurazioni Generali SpA		10,716		218,739
Assurant, Inc.		572		82,128
Aviva PLC		29,197		138,194
AXA SA		19,588		581,154
Baloise Holding AG (REG)		490		70,940
Brown & Brown, Inc.		2,539		177,324
Chubb Ltd.		4,431		922,446
Cincinnati Financial Corp.		1,692		173,075
Dai-ichi Life Holdings, Inc.		9,921		204,812
Everest Re Group Ltd.		466		173,198
Gjensidige Forsikring ASA		2,015		29,567
Globe Life, Inc.		938		101,989
Hannover Rueck SE		665		145,914
Hartford Financial Services Group, Inc. (The)		3,299		233,932
Helvetia Holding AG (REG)		426		59,507
Insurance Australia Group Ltd.		24,836		90,094
Japan Post Holdings Co., Ltd.		24,011		192,091
Japan Post Insurance Co., Ltd.		2,013		33,855
Legal & General Group PLC		63,804		172,164
Loews Corp.		1,995		126,303
Marsh & McLennan Cos., Inc.		5,329		1,014,109
Medibank Pvt Ltd.		27,747		61,241
MetLife, Inc.		6,815		428,732
MS&AD Insurance Group Holdings, Inc.(b)		4,612		168,773
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (REG)		1,457		567,432
NN Group NV(b)		2,651		84,986

6

Company	Shares		U.S. $ Value
Phoenix Group Holdings PLC		7,768	$	45,525
Poste Italiane SpA(c)		5,263		55,268
Principal Financial Group, Inc.		2,399		172,896
Progressive Corp. (The)		6,314		879,540
Prudential Financial, Inc.		3,916		371,589
Prudential PLC		29,109		312,902
QBE Insurance Group Ltd.		15,464		154,907
Sampo Oyj - Class A		4,977		215,163
Sompo Holdings, Inc.		3,155		135,213
Suncorp Group Ltd.		13,390		119,300
Swiss Life Holding AG (REG)		316		196,608
Swiss Re AG		3,258		334,598
T&D Holdings, Inc.(b)		5,343		87,866
Talanx AG(a)		670		42,404
Tokio Marine Holdings, Inc.		19,282		446,449
Travelers Cos., Inc. (The)		2,470		403,376
Tryg A/S		3,577		65,457
Willis Towers Watson PLC		1,131		236,334
WR Berkley Corp.		2,195		139,361
Zurich Insurance Group AG		1,606		734,834
				16,494,323
				79,423,041
Health Care – 9.7%
Biotechnology – 1.3%
AbbVie, Inc.		19,041		2,838,251
Amgen, Inc.		5,770		1,550,745
Argenx SE(a)		601		292,669
Biogen, Inc.(a)		1,562		401,450
CSL Ltd.		5,149		829,519
Genmab A/S(a)		716		253,500
Gilead Sciences, Inc.		13,442		1,007,344
Grifols SA(a), (b)		3,005		38,920
Incyte Corp.(a)		2,006		115,887
Moderna, Inc.(a)		3,572		368,952
Regeneron Pharmaceuticals, Inc.(a)		1,151		947,227
Swedish Orphan Biovitrum AB(a)		1,962		40,089
Vertex Pharmaceuticals, Inc.(a)		2,784		968,108
				9,652,661
Health Care Equipment & Supplies – 1.8%
Abbott Laboratories		18,721		1,813,129
Alcon, Inc.		5,373		414,620
Align Technology, Inc.(a)		768		234,486
Asahi Intecc Co., Ltd.(b)		2,189		39,245
Baxter International, Inc.		5,463		206,174
Becton Dickinson & Co.		3,130		809,199
BioMerieux		475		45,952
Boston Scientific Corp.(a)		15,796		834,029
Carl Zeiss Meditec AG		450		39,228
Cochlear Ltd.		725		118,743
Coloplast A/S - Class B		1,275		134,917
Cooper Cos., Inc. (The)		534		169,817
Demant A/S(a)		1,082		44,677
DENTSPLY SIRONA, Inc.		2,284		78,021

7

Company	Shares		U.S. $ Value
Dexcom, Inc.(a)		4,184	$	390,367
DiaSorin SpA		239		21,764
Edwards Lifesciences Corp.(a)		6,558		454,338
EssilorLuxottica SA		3,147		547,407
Fisher & Paykel Healthcare Corp., Ltd.		6,105		78,712
GE Healthcare, Inc.		4,220		287,129
Getinge AB - Class B		2,520		44,282
Hologic, Inc.(a)		2,642		183,355
Hoya Corp.		3,805		389,698
IDEXX Laboratories, Inc.(a)		896		391,794
Insulet Corp.(a)		753		120,096
Intuitive Surgical, Inc.(a)		3,790		1,107,779
Koninklijke Philips NV(a), (b)		9,927		198,066
Medtronic PLC		14,360		1,125,249
Olympus Corp.		13,514		175,459
ResMed, Inc.		1,585		234,374
Siemens Healthineers AG(c)		3,007		152,100
Smith & Nephew PLC		9,172		113,830
Sonova Holding AG (REG)		556		131,592
STERIS PLC		1,064		233,463
Straumann Holding AG (REG)		1,218		155,026
Stryker Corp.		3,646		996,342
Sysmex Corp.		1,777		84,438
Teleflex, Inc.		507		99,580
Terumo Corp.		7,115		188,340
Zimmer Biomet Holdings, Inc.		2,254		252,944
				13,139,761
Health Care Providers & Services – 1.6%
Amplifon SpA(b)		1,382		40,909
Cardinal Health, Inc.		2,747		238,495
Cencora, Inc.		1,749		314,767
Centene Corp.(a)		5,841		402,328
Cigna Group (The)		3,193		913,421
CVS Health Corp.		13,856		967,426
DaVita, Inc.(a)		581		54,922
EBOS Group Ltd.		1,688		34,580
Elevance Health, Inc.		2,542		1,106,838
Fresenius Medical Care AG & Co. KGaA		2,193		94,281
Fresenius SE & Co. KGaA		4,563		141,728
HCA Healthcare, Inc.		2,171		534,023
Henry Schein, Inc.(a)		1,409		104,618
Humana, Inc.		1,337		650,477
Laboratory Corp. of America Holdings		956		192,204
McKesson Corp.		1,455		632,707
Molina Healthcare, Inc.(a)		629		206,243
Quest Diagnostics, Inc.		1,211		147,572
Ramsay Health Care Ltd.(b)		1,960		65,053
Sonic Healthcare Ltd.		4,801		91,675
UnitedHealth Group, Inc.		9,993		5,038,371
Universal Health Services, Inc. - Class B		670		84,239
				12,056,877
Health Care Technology – 0.0%
M3, Inc.		4,607		83,565

8

Company	Shares		U.S. $ Value
Life Sciences Tools & Services – 0.9%
Agilent Technologies, Inc.		3,186	$	356,259
Bachem Holding AG (REG)(b)		393		28,987
Bio-Rad Laboratories, Inc. - Class A(a)		225		80,651
Bio-Techne Corp.		1,698		115,583
Charles River Laboratories International, Inc.(a)		553		108,377
Danaher Corp.		7,089		1,758,781
Eurofins Scientific SE		1,485		83,690
Illumina, Inc.(a)		1,708		234,474
IQVIA Holdings, Inc.(a)		1,975		388,581
Lonza Group AG (REG)		798		369,113
Mettler-Toledo International, Inc.(a)		236		261,505
QIAGEN NV(a)		2,427		97,928
Revvity, Inc.		1,339		148,227
Sartorius AG		291		98,560
Sartorius Stedim Biotech		312		74,226
Thermo Fisher Scientific, Inc.		4,164		2,107,692
Waters Corp.(a)		638		174,946
West Pharmaceutical Services, Inc.		797		299,042
				6,786,622
Pharmaceuticals – 4.1%
Astellas Pharma, Inc.		19,122		264,679
AstraZeneca PLC		16,543		2,231,393
Bayer AG (REG)		10,515		504,976
Bristol-Myers Squibb Co.		22,537		1,308,048
Catalent, Inc.(a)		1,945		88,556
Chugai Pharmaceutical Co., Ltd.		7,154		220,587
Daiichi Sankyo Co., Ltd.		19,743		540,510
Eisai Co., Ltd.		2,714		150,420
Eli Lilly & Co.		8,602		4,620,392
GSK PLC		43,708		790,844
Hikma Pharmaceuticals PLC		1,710		43,422
Ipsen SA		431		56,470
Johnson & Johnson		25,977		4,045,918
Kyowa Kirin Co., Ltd.		2,720		47,292
Merck & Co., Inc.		27,374		2,818,153
Merck KGaA		1,386		231,056
Novartis AG (REG)		21,878		2,234,370
Novo Nordisk A/S - Class B		34,832		3,171,495
Ono Pharmaceutical Co., Ltd.		4,103		78,689
Organon & Co.		2,757		47,862
Orion Oyj - Class B		1,167		45,847
Otsuka Holdings Co., Ltd.		4,225		150,009
Pfizer, Inc.		60,907		2,020,285
Recordati Industria Chimica e Farmaceutica SpA(b)		1,163		54,807
Roche Holding AG (BR)		355		104,294
Roche Holding AG (Genusschein)		7,499		2,047,235
Sanofi		12,127		1,302,140
Shionogi & Co., Ltd.		2,770		123,554
Takeda Pharmaceutical Co., Ltd.(b)		16,893		523,624
Teva Pharmaceutical Industries Ltd. (Sponsored ADR)(a)		11,958		121,972
UCB SA		1,386		113,526
Viatris, Inc.		12,940		127,588
Zoetis, Inc.		4,966		863,985
				31,093,998
				72,813,484

9

Company	Shares		U.S. $ Value
Consumer Discretionary – 8.0%
Automobile Components – 0.2%
Aisin Corp.		1,641	$	62,005
Aptiv PLC(a)		3,051		300,798
BorgWarner, Inc.		2,536		102,378
Bridgestone Corp.		6,140		239,263
Cie Generale des Etablissements Michelin SCA		7,309		223,706
Continental AG		1,197		84,104
Denso Corp.		18,488		296,656
Koito Manufacturing Co., Ltd.		2,104		31,728
Sumitomo Electric Industries Ltd.		7,626		91,870
Valeo SE		2,088		35,830
				1,468,338
Automobiles – 1.9%
Bayerische Motoren Werke AG		3,213		326,335
Bayerische Motoren Werke AG (Preference Shares)		653		60,782
Dr Ing hc F Porsche AG (Preference Shares)(c)		1,214		113,906
Ferrari NV		1,352		398,550
Ford Motor Co.		42,411		526,745
General Motors Co.		14,843		489,374
Honda Motor Co., Ltd.		49,314		554,767
Isuzu Motors Ltd.		5,874		73,846
Mazda Motor Corp.		5,729		65,050
Mercedes-Benz Group AG		8,565		596,096
Nissan Motor Co., Ltd.(b)		24,777		109,347
Porsche Automobil Holding SE (Preference Shares)		1,700		83,622
Renault SA		2,081		85,147
Stellantis NV (Italy)		23,513		450,237
Subaru Corp.		6,506		126,506
Suzuki Motor Corp.		3,989		160,441
Tesla, Inc.(a)		29,789		7,453,804
Toyota Motor Corp.(b)		113,189		2,030,647
Volkswagen AG		326		42,813
Volkswagen AG (Preference Shares)		2,222		255,306
Volvo Car AB - Class B(a)		6,056		24,495
Yamaha Motor Co., Ltd.(b)		3,192		83,908
				14,111,724
Broadline Retail – 1.9%
Amazon.com, Inc.(a)		97,948		12,451,150
Cie Financiere Richemont SA (REG)		5,572		678,576
eBay, Inc.		5,741		253,121
Etsy, Inc.(a)		1,327		85,698
Global-e Online Ltd.(a)		964		38,309
Next PLC		1,291		114,501
Pan Pacific International Holdings Corp.		4,058		85,165
Prosus NV(a)		16,316		480,768
Rakuten Group, Inc.(b)		15,953		65,547
Wesfarmers Ltd.		12,202		412,964
				14,665,799

10

Company	Shares		U.S. $ Value
Distributors – 0.1%
D’ieteren Group		230	$	38,776
Genuine Parts Co.		1,515		218,736
LKQ Corp.		2,886		142,886
Pool Corp.		421		149,918
				550,316
Diversified Consumer Services – 0.0%
IDP Education Ltd.		2,648		36,238
Pearson PLC		6,879		72,579
				108,817
Hotels, Restaurants & Leisure – 1.5%
Accor SA		2,014		67,740
Airbnb, Inc. - Class A(a)		4,599		631,029
Amadeus IT Group SA		4,858		293,436
Aristocrat Leisure Ltd.		6,278		164,022
Booking Holdings, Inc.(a)		385		1,187,321
Caesars Entertainment, Inc.(a)		2,322		107,625
Carnival Corp.(a)		10,867		149,095
Chipotle Mexican Grill, Inc.(a)		298		545,885
Compass Group PLC		18,435		448,737
Darden Restaurants, Inc.		1,304		186,759
Delivery Hero SE(a), (c)		1,890		53,966
Domino’s Pizza, Inc.		379		143,561
Entain PLC		6,817		77,317
Evolution AB(c)		1,961		197,883
Expedia Group, Inc.(a)		1,487		153,265
Flutter Entertainment PLC(a)		1,894		308,969
Galaxy Entertainment Group Ltd.		22,738		136,056
Genting Singapore Ltd.		60,925		37,611
Hilton Worldwide Holdings, Inc.		2,821		423,658
InterContinental Hotels Group PLC		1,827		135,114
La Francaise des Jeux SAEM(c)		1,096		35,598
Las Vegas Sands Corp.		3,546		162,549
Lottery Corp., Ltd. (The)		22,425		67,768
Marriott International, Inc./MD - Class A		2,703		531,302
McDonald’s Corp.		7,862		2,071,165
McDonald’s Holdings Co. Japan Ltd.(b)		929		35,496
MGM Resorts International(a)		3,028		111,309
Norwegian Cruise Line Holdings Ltd.(a)		4,589		75,627
Oriental Land Co., Ltd./Japan		11,679		383,161
Royal Caribbean Cruises Ltd.(a)		2,542		234,220
Sands China Ltd.(a)		24,462		74,388
Sodexo SA		953		98,109
Starbucks Corp.		12,356		1,127,732
Whitbread PLC		2,170		91,342
Wynn Resorts Ltd.		1,045		96,568
Yum! Brands, Inc.		3,023		377,694
Zensho Holdings Co., Ltd.		992		43,077
				11,066,154

11

Company	Shares		U.S. $ Value
Household Durables – 0.4%
Barratt Developments PLC		10,300	$	55,225
Berkeley Group Holdings PLC		1,131		56,482
DR Horton, Inc.		3,285		353,039
Garmin Ltd.		1,652		173,790
Iida Group Holdings Co., Ltd.		1,483		24,610
Lennar Corp. - Class A		2,724		305,714
Mohawk Industries, Inc.(a)		570		48,912
NVR, Inc.(a)		35		208,715
Open House Group Co., Ltd.		825		27,973
Panasonic Holdings Corp.		23,575		266,109
Persimmon PLC		3,215		42,105
PulteGroup, Inc.		2,367		175,276
SEB SA		278		25,934
Sekisui Chemical Co., Ltd.		4,127		59,375
Sekisui House Ltd.		6,227		123,926
Sharp Corp./Japan(a), (b)		2,157		13,429
Sony Group Corp.		13,460		1,100,699
Taylor Wimpey PLC		36,789		52,468
Whirlpool Corp.		591		79,017
				3,192,798
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		6,458		131,359
Hasbro, Inc.		1,407		93,059
Shimano, Inc.		820		109,753
Yamaha Corp.(b)		1,474		40,257
				374,428
Specialty Retail – 1.2%
AutoZone, Inc.(a)		196		497,838
Bath & Body Works, Inc.		2,469		83,452
Best Buy Co., Inc.		2,069		143,733
CarMax, Inc.(a)		1,707		120,736
Dufry AG (REG)(a)		1,042		39,561
Fast Retailing Co., Ltd.		1,870		407,314
H & M Hennes & Mauritz AB - Class B		6,635		94,086
Home Depot, Inc. (The)		10,846		3,277,227
Industria de Diseno Textil SA		11,660		433,892
JD Sports Fashion PLC		25,984		47,201
Kingfisher PLC		19,545		53,057
Lowe’s Cos., Inc.		6,321		1,313,757
Nitori Holdings Co., Ltd.		863		96,221
O’Reilly Automotive, Inc.(a)		652		592,577
Ross Stores, Inc.		3,675		415,091
TJX Cos., Inc. (The)		12,398		1,101,934
Tractor Supply Co.		1,174		238,381
Ulta Beauty, Inc.(a)		537		214,505
USS Co., Ltd.		2,202		36,402
Zalando SE(a), (c)		2,410		53,546
ZOZO, Inc.(b)		1,507		27,595
				9,288,106

12

Company	Shares		U.S. $ Value
Textiles, Apparel & Luxury Goods – 0.7%
adidas AG		1,743	$	305,737
Burberry Group PLC		4,080		94,554
Hermes International SCA		339		617,938
Kering SA		803		364,853
LVMH Moet Hennessy Louis Vuitton SE		2,948		2,225,240
Moncler SpA		2,256		130,747
NIKE, Inc. - Class B		13,216		1,263,714
Pandora A/S		903		93,182
Puma SE		1,150		71,107
Ralph Lauren Corp.		436		50,615
Swatch Group AG (The)		313		80,166
Swatch Group AG (The) (REG)		610		29,792
Tapestry, Inc.		2,501		71,904
VF Corp.		3,566		63,011
				5,462,560
				60,289,040
Industrials – 7.6%
Aerospace & Defense – 1.2%
Airbus SE		6,328		846,993
Axon Enterprise, Inc.(a)		758		150,834
BAE Systems PLC		32,536		395,372
Boeing Co. (The)(a)		6,117		1,172,507
Dassault Aviation SA		221		41,625
Elbit Systems Ltd.		293		58,074
General Dynamics Corp.		2,445		540,272
Howmet Aerospace, Inc.		4,224		195,360
Huntington Ingalls Industries, Inc.	��	430		87,969
Kongsberg Gruppen ASA		909		37,463
L3Harris Technologies, Inc.		2,040		355,205
Lockheed Martin Corp.		2,418		988,865
Melrose Industries PLC		14,424		82,223
MTU Aero Engines AG		585		105,949
Northrop Grumman Corp.		1,534		675,252
Rheinmetall AG		472		121,423
Rolls-Royce Holdings PLC(a)		89,835		240,702
RTX Corp.		15,702		1,130,073
Saab AB - Class B		847		43,109
Safran SA		3,677		576,220
Singapore Technologies Engineering Ltd.		15,730		44,891
Textron, Inc.		2,137		166,985
Thales SA		1,147		161,203
TransDigm Group, Inc.(a)		595		501,662
				8,720,231
Air Freight & Logistics – 0.4%
CH Robinson Worldwide, Inc.		1,256		108,179
Deutsche Post AG (REG)		10,641		431,764
DSV A/S		2,005		373,613
Expeditors International of Washington, Inc.		1,595		182,835
FedEx Corp.		2,496		661,240
Nippon Express Holdings, Inc.		767		40,022
SG Holdings Co., Ltd.		3,385		43,334
United Parcel Service, Inc. - Class B		7,803		1,216,254
Yamato Holdings Co., Ltd.		2,661		43,311
				3,100,552

13

Company	Shares		U.S. $ Value
Building Products – 0.5%
A O Smith Corp.		1,344	$	88,879
AGC, Inc.		2,064		72,338
Allegion PLC		947		98,677
Assa Abloy AB - Class B		10,787		234,386
Carrier Global Corp.		9,036		498,787
Cie de Saint-Gobain SA		4,937		295,481
Daikin Industries Ltd.(b)		2,819		441,939
Geberit AG (REG)		361		180,023
Johnson Controls International PLC		7,339		390,508
Kingspan Group PLC		1,690		126,215
Lixil Corp.(b)		3,018		35,074
Masco Corp.		2,426		129,670
Nibe Industrier AB - Class B		15,903		103,970
Otis Worldwide Corp.		4,442		356,737
ROCKWOOL A/S - Class B		103		24,894
TOTO Ltd.		1,426		36,798
Trane Technologies PLC		2,464		499,970
Xinyi Glass Holdings Ltd.		14,857		19,144
				3,633,490
Commercial Services & Supplies – 0.3%
Brambles Ltd.		14,464		132,874
Cintas Corp.		933		448,782
Copart, Inc.(a)		9,374		403,926
Dai Nippon Printing Co., Ltd.		2,410		62,704
Rentokil Initial PLC		26,643		197,814
Republic Services, Inc.		2,218		316,087
Rollins, Inc.		2,605		97,245
Secom Co., Ltd.		2,267		153,795
Securitas AB - Class B		4,956		39,188
TOPPAN Holdings, Inc.		2,642		63,200
Waste Management, Inc.		3,976		606,101
				2,521,716
Construction & Engineering – 0.2%
ACS Actividades de Construccion y Servicios SA		2,311		83,080
Bouygues SA		2,012		70,349
Eiffage SA		827		78,497
Epiroc AB - Class A		7,081		134,449
Epiroc AB - Class B		4,236		67,764
Ferrovial SE(b)		5,384		164,519
Kajima Corp.		4,471		72,779
Obayashi Corp.		6,542		57,569
Quanta Services, Inc.		1,566		292,951
Shimizu Corp.		5,561		38,628
Skanska AB - Class B(b)		3,427		56,273
Taisei Corp.		1,770		62,297
Vinci SA		5,703		630,929
				1,810,084
Electrical Equipment – 0.7%
ABB Ltd. (REG)		17,075		609,461
AMETEK, Inc.		2,489		367,775
Eaton Corp. PLC		4,304		917,957
Emerson Electric Co.		6,165		595,354
Fuji Electric Co., Ltd.		1,402		63,140
Generac Holdings, Inc.(a)		671		73,112
Legrand SA		2,866		263,346

14

Company	Shares		U.S. $ Value
Mitsubishi Electric Corp.		20,626	$	254,823
Nidec Corp.		4,512		208,335
Prysmian SpA		2,831		113,631
Rockwell Automation, Inc.		1,239		354,193
Schneider Electric SE		5,809		957,277
Siemens Energy AG(a)		5,452		71,054
Vestas Wind Systems A/S(a)		10,754		230,070
				5,079,528
Ground Transportation – 0.6%
Aurizon Holdings Ltd.		18,545		41,465
Central Japan Railway Co.		7,685		186,884
CSX Corp.		21,644		665,553
East Japan Railway Co.(b)		3,226		184,614
Grab Holdings Ltd. - Class A(a)		19,721		69,812
Hankyu Hanshin Holdings, Inc.		2,463		84,039
JB Hunt Transport Services, Inc.		881		166,086
Keio Corp.(b)		1,175		40,394
Keisei Electric Railway Co., Ltd.		1,437		49,775
Kintetsu Group Holdings Co., Ltd.(b)		1,874		53,133
MTR Corp., Ltd.		15,600		61,627
Norfolk Southern Corp.		2,449		482,282
Odakyu Electric Railway Co., Ltd.(b)		3,343		49,950
Old Dominion Freight Line, Inc.		967		395,638
Tobu Railway Co., Ltd.		2,094		53,819
Tokyu Corp.		5,092		58,709
Union Pacific Corp.		6,575		1,338,867
West Japan Railway Co.		2,337		96,707
				4,079,354
Industrial Conglomerates – 0.7%
3M Co.		5,955		557,507
CK Hutchison Holdings Ltd.		27,958		148,431
DCC PLC		1,088		60,917
General Electric Co.		11,741		1,297,968
Hikari Tsushin, Inc.		214		32,591
Hitachi Ltd.		10,015		620,705
Honeywell International, Inc.		7,163		1,323,293
Investment AB Latour - Class B(b)		1,491		26,206
Jardine Cycle & Carriage Ltd.		1,023		23,850
Jardine Matheson Holdings Ltd.		1,834		84,990
Keppel Corp., Ltd.		14,674		72,869
Lifco AB - Class B		2,348		41,074
Siemens AG (REG)		8,112		1,159,275
Smiths Group PLC		3,730		73,436
Toshiba Corp.(a), (b)		951		29,283
				5,552,395
Machinery – 1.5%
Alfa Laval AB		3,094		105,994
Alstom SA		3,057		72,656
Atlas Copco AB - Class A		28,669		385,044
Atlas Copco AB - Class B		16,258		190,138
Caterpillar, Inc.		5,503		1,502,319
CNH Industrial NV		10,624		128,972
Cummins, Inc.		1,528		349,087

15

Company	Shares		U.S. $ Value
Daifuku Co., Ltd.		3,087	$	58,272
Daimler Truck Holding AG		5,221		180,773
Deere & Co.		2,941		1,109,875
Dover Corp.		1,509		210,521
FANUC Corp.		10,136		263,611
Fortive Corp.		3,798		281,660
GEA Group AG		1,650		60,810
Hitachi Construction Machinery Co., Ltd.		1,083		32,865
Hoshizaki Corp.(b)		1,229		42,664
Husqvarna AB - Class B(b)		3,618		27,610
IDEX Corp.		816		169,744
Illinois Tool Works, Inc.		2,969		683,790
Indutrade AB		2,988		55,185
Ingersoll Rand, Inc.		4,363		278,010
Knorr-Bremse AG		819		51,922
Komatsu Ltd.		9,822		264,910
Kone Oyj - Class B		3,664		154,401
Kubota Corp.		10,703		157,450
Kurita Water Industries Ltd.(b)		1,130		39,323
Makita Corp.		2,435		60,045
Metso Oyj(b)		6,907		72,433
MINEBEA MITSUMI, Inc.		3,918		63,836
MISUMI Group, Inc.		3,063		47,698
Mitsubishi Heavy Industries Ltd.		3,461		193,044
NGK Insulators Ltd.		2,207		29,251
Nordson Corp.		584		130,331
PACCAR, Inc.		5,640		479,513
Parker-Hannifin Corp.		1,384		539,096
Pentair PLC		1,781		115,320
Rational AG		60		37,962
Sandvik AB		11,380		209,396
Schindler Holding AG		435		86,652
Schindler Holding AG (REG)		268		51,566
Seatrium Ltd.(a)		430,453		42,090
SKF AB - Class B		3,550		58,935
SMC Corp.		619		277,474
Snap-on, Inc.		571		145,639
Spirax-Sarco Engineering PLC		822		95,149
Stanley Black & Decker, Inc.		1,653		138,158
Techtronic Industries Co., Ltd.		14,362		138,645
Toyota Industries Corp.		1,574		123,898
VAT Group AG(c)		291		103,841
Volvo AB - Class A		2,017		41,886
Volvo AB - Class B		16,131		332,260
Wartsila OYJ Abp(b)		4,769		54,051
Westinghouse Air Brake Technologies Corp.		1,932		205,314
Xylem, Inc./NY		2,598		236,496
				10,967,585
Marine Transportation – 0.1%
AP Moller - Maersk A/S - Class A		33		58,400
AP Moller - Maersk A/S - Class B		52		93,543
Kawasaki Kisen Kaisha Ltd.(b)		1,458		49,756
Kuehne & Nagel International AG (REG)		583		165,648
Mitsui OSK Lines Ltd.(b)		3,652		100,353
Nippon Yusen KK(b)		5,249		136,289
SITC International Holdings Co., Ltd.		13,511		22,669
				626,658

16

Company	Shares		U.S. $ Value
Passenger Airlines – 0.1%
Alaska Air Group, Inc.(a)		1,372	$	50,874
American Airlines Group, Inc.(a)		7,048		90,285
ANA Holdings, Inc.(a)		1,610		33,710
Delta Air Lines, Inc.		6,941		256,817
Deutsche Lufthansa AG (REG)(a)		6,022		47,654
Japan Airlines Co., Ltd.		1,453		28,231
Qantas Airways Ltd.(a)		8,023		26,560
Singapore Airlines Ltd.(b)		15,799		74,527
Southwest Airlines Co.		6,426		173,952
United Airlines Holdings, Inc.(a)		3,538		149,657
				932,267
Professional Services – 0.7%
Adecco Group AG (REG)(b)		1,749		71,837
Automatic Data Processing, Inc.		4,444		1,069,138
BayCurrent Consulting, Inc.		1,376		45,852
Broadridge Financial Solutions, Inc.		1,274		228,110
Bureau Veritas SA		3,139		77,835
Ceridian HCM Holding, Inc.(a)		1,679		113,920
Computershare Ltd.		6,064		101,054
Equifax, Inc.		1,324		242,530
Experian PLC		9,879		323,118
Intertek Group PLC		1,729		86,466
Jacobs Solutions, Inc.		1,358		185,367
Leidos Holdings, Inc.		1,482		136,581
Paychex, Inc.		3,462		399,272
Paycom Software, Inc.		531		137,672
Persol Holdings Co., Ltd.		20,740		33,686
Randstad NV		1,167		64,472
Recruit Holdings Co., Ltd.		15,454		472,815
RELX PLC (London)		20,255		683,402
Robert Half, Inc.		1,155		84,638
SGS SA (REG)		1,641		137,722
Teleperformance SE		630		79,101
Verisk Analytics, Inc.		1,565		369,716
Wolters Kluwer NV(b)		2,765		334,774
				5,479,078
Trading Companies & Distributors – 0.5%
AerCap Holdings NV(a)		1,648		103,280
Ashtead Group PLC		4,681		283,868
Beijer Ref AB(b)		4,108		43,221
Brenntag SE		1,567		121,249
Bunzl PLC		3,676		130,916
Fastenal Co.		6,163		336,746
ITOCHU Corp.(b)		12,750		460,453
Marubeni Corp.		15,408		240,184
Mitsubishi Corp.		12,275		584,908
Mitsui & Co., Ltd.		14,018		508,432
MonotaRO Co., Ltd.		2,525		26,920
Reece Ltd.(b)		2,297		27,342

17

Company	Shares		U.S. $ Value
Sumitomo Corp.		11,162	$	222,770
Toyota Tsusho Corp.		2,273		133,689
United Rentals, Inc.		737		327,648
WW Grainger, Inc.		480		332,083
				3,883,709
Transportation Infrastructure – 0.1%
Aena SME SA(c)		820		123,392
Aeroports de Paris SA		342		40,332
Auckland International Airport Ltd.		12,611		59,787
Getlink SE		3,780		60,260
Transurban Group		32,880		267,172
				550,943
				56,937,590
Consumer Staples – 5.4%
Beverages – 1.2%
Anheuser-Busch InBev SA/NV		9,288		514,891
Asahi Group Holdings Ltd.		5,225		195,178
Brown-Forman Corp. - Class B		1,974		113,880
Budweiser Brewing Co. APAC Ltd.(c)		17,346		34,089
Carlsberg AS - Class B		1,073		135,289
Coca-Cola Co. (The)		41,985		2,350,320
Coca-Cola Europacific Partners PLC		2,252		140,705
Coca-Cola HBC AG(a)		2,354		64,367
Constellation Brands, Inc. - Class A		1,740		437,314
Davide Campari-Milano NV(b)		5,266		61,993
Diageo PLC		23,984		884,244
Heineken Holding NV		1,384		104,300
Heineken NV		3,074		271,009
Keurig Dr Pepper, Inc.		10,853		342,629
Kirin Holdings Co., Ltd.		8,214		115,000
Molson Coors Beverage Co. - Class B		2,002		127,307
Monster Beverage Corp.(a)		8,023		424,818
PepsiCo, Inc.		14,850		2,516,184
Pernod Ricard SA		2,184		363,614
Remy Cointreau SA		258		31,454
Suntory Beverage & Food Ltd.		1,532		46,623
Treasury Wine Estates Ltd.		7,272		57,425
				9,332,633
Consumer Staples Distribution & Retail – 1.2%
Aeon Co., Ltd.		7,071		140,063
Carrefour SA		6,221		106,846
Coles Group Ltd.		13,442		134,163
Costco Wholesale Corp.		4,781		2,701,074
Dollar General Corp.		2,366		250,323
Dollar Tree, Inc.(a)		2,259		240,471
Endeavour Group Ltd./Australia(b)		14,923		50,384
HelloFresh SE(a)		1,664		49,445
J Sainsbury PLC		17,682		54,452
Jeronimo Martins SGPS SA		3,053		68,565
Kesko Oyj - Class B		2,751		49,288
Kobe Bussan Co., Ltd.(b)		1,597		37,388
Koninklijke Ahold Delhaize NV(b)		10,316		310,921

18

Company	Shares		U.S. $ Value
Kroger Co. (The)		7,123	$	318,754
MatsukiyoCocokara & Co.		3,834		68,679
Ocado Group PLC(a), (b)		5,923		43,065
Seven & i Holdings Co., Ltd.		8,066		315,785
Sysco Corp.		5,449		359,906
Target Corp.		4,979		550,528
Tesco PLC		76,139		244,900
Walgreens Boots Alliance, Inc.		7,729		171,893
Walmart, Inc.		15,396		2,462,282
Welcia Holdings Co., Ltd.		950		16,406
Woolworths Group Ltd.		13,089		313,366
				9,058,947
Food Products – 1.2%
Ajinomoto Co., Inc.		4,841		186,662
Archer-Daniels-Midland Co.		5,783		436,154
Associated British Foods PLC		3,778		94,918
Barry Callebaut AG (REG)		41		65,200
Bunge Ltd.		1,625		175,906
Campbell Soup Co.		2,122		87,172
Chocoladefabriken Lindt & Spruengli AG(b)		11		122,238
Chocoladefabriken Lindt & Spruengli AG (REG)		2		218,991
Conagra Brands, Inc.		5,155		141,350
Danone SA		6,921		381,747
General Mills, Inc.		6,313		403,969
Hershey Co. (The)		1,617		323,529
Hormel Foods Corp.		3,123		118,768
J M Smucker Co. (The)		1,102		135,447
JDE Peet’s NV(b)		1,329		37,122
Kellogg Co.		2,844		169,246
Kerry Group PLC - Class A		1,700		142,043
Kikkoman Corp.		1,435		75,212
Kraft Heinz Co. (The)		8,613		289,741
Lamb Weston Holdings, Inc.		1,573		145,440
Lotus Bakeries NV		5		40,651
McCormick & Co., Inc./MD		2,709		204,909
MEIJI Holdings Co., Ltd.		2,506		62,284
Mondelez International, Inc. - Class A		14,676		1,018,514
Mowi ASA		4,647		82,137
Nestle SA (REG)		28,499		3,225,973
Nissin Foods Holdings Co., Ltd.		690		57,334
Orkla ASA		7,567		56,517
Salmar ASA		852		43,153
Tyson Foods, Inc. - Class A		3,080		155,509
WH Group Ltd.(c)		84,024		43,980
Wilmar International Ltd.		19,354		52,668
Yakult Honsha Co., Ltd.		2,762		67,081
				8,861,565
Household Products – 0.8%
Church & Dwight Co., Inc.		2,654		243,186
Clorox Co. (The)		1,336		175,096
Colgate-Palmolive Co.		8,918		634,159
Essity AB - Class B		6,522		140,661
Henkel AG & Co. KGaA		1,131		71,311
Henkel AG & Co. KGaA (Preference Shares)		1,855		132,094
Kimberly-Clark Corp.		3,648		440,861
Procter & Gamble Co. (The)		25,430		3,709,220
Reckitt Benckiser Group PLC		7,680		541,599
Unicharm Corp.		4,352		153,877
				6,242,064

19

Company	Shares		U.S. $ Value
Personal Care Products – 0.5%
Beiersdorf AG		1,104	$	142,404
Estee Lauder Cos., Inc. (The) - Class A		2,501		361,520
Haleon PLC		59,139		245,136
Kao Corp.		5,034		186,585
Kenvue, Inc.		18,592		373,327
Kobayashi Pharmaceutical Co., Ltd.		537		23,951
Kose Corp.		385		27,906
L’Oreal SA		2,575		1,067,111
Shiseido Co., Ltd.		4,266		149,498
Unilever PLC (London)		26,844		1,327,886
				3,905,324
Tobacco – 0.5%
Altria Group, Inc.		19,144		805,005
British American Tobacco PLC		22,676		711,996
Imperial Brands PLC		9,149		185,600
Japan Tobacco, Inc.		12,893		296,643
Philip Morris International, Inc.		16,746		1,550,345
				3,549,589
				40,950,122
Communication Services – 5.4%
Diversified Telecommunication Services – 1.0%
AT&T, Inc.		77,123		1,158,387
BT Group PLC		68,924		97,876
Cellnex Telecom SA(a), (c)		6,007		208,936
Charter Communications, Inc. - Class A(a)		1,098		482,922
Comcast Corp. - Class A		44,399		1,968,652
Deutsche Telekom AG (REG)		34,595		725,692
Elisa Oyj		1,530		70,951
HKT Trust & HKT Ltd.		38,163		39,795
Infrastrutture Wireless Italiane SpA(b), (c)		3,386		40,234
Koninklijke KPN NV		34,473		113,577
Nippon Telegraph & Telephone Corp.		317,900		376,278
Orange SA		19,686		225,804
Singapore Telecommunications Ltd.		86,008		152,242
Spark New Zealand Ltd.		18,834		54,220
Swisscom AG (REG)		278		165,074
Telecom Italia SpA/Milano(a), (b)		100,391		31,309
Telefonica Deutschland Holding AG		8,740		15,632
Telefonica SA(b)		54,139		221,176
Telenor ASA		7,049		79,940
Telia Co. AB		24,713		50,975
Telstra Group Ltd.		42,437		104,847
Verizon Communications, Inc.		45,352		1,469,858
Washington H Soul Pattinson & Co., Ltd.(b)		2,481		51,755
				7,906,132

20

Company	Shares		U.S. $ Value
Entertainment – 0.8%
Activision Blizzard, Inc.		7,718	$	722,636
Bollore SE		7,874		42,261
Capcom Co., Ltd.		1,904		68,528
Electronic Arts, Inc.		2,659		320,144
Koei Tecmo Holdings Co., Ltd.		1,184		16,822
Konami Group Corp.		1,137		59,948
Live Nation Entertainment, Inc.(a)		1,529		126,968
Netflix, Inc.(a)		4,781		1,805,306
Nexon Co., Ltd.		3,645		65,131
Nintendo Co., Ltd.		11,104		461,404
Sea Ltd. (ADR)(a)		3,914		172,020
Square Enix Holdings Co., Ltd.		966		33,100
Take-Two Interactive Software, Inc.(a)		1,704		239,225
Toho Co., Ltd./Tokyo		1,253		42,747
Universal Music Group NV(b)		8,662		226,045
Walt Disney Co. (The)(a)		19,739		1,599,846
Warner Bros Discovery, Inc.(a)		23,927		259,847
				6,261,978
Interactive Media & Services – 3.1%
Adevinta ASA(a)		2,936		28,925
Alphabet, Inc. - Class A(a)		64,003		8,375,433
Alphabet, Inc. - Class C(a)		54,444		7,178,441
Auto Trader Group PLC(c)		9,578		71,969
Match Group, Inc.(a)		3,000		117,525
Meta Platforms, Inc. - Class A(a)		23,977		7,198,135
REA Group Ltd.(b)		593		58,566
Scout24 SE(c)		842		58,383
SEEK Ltd.(b)		3,802		53,711
Z Holdings Corp.		26,998		74,895
				23,215,983
Media – 0.2%
CyberAgent, Inc.		4,076		21,941
Dentsu Group, Inc.		2,179		64,088
Fox Corp. - Class A		2,737		85,394
Fox Corp. - Class B		1,423		41,096
Hakuhodo DY Holdings, Inc.(b)		1,793		14,728
Informa PLC		14,938		136,406
Interpublic Group of Cos., Inc. (The)		4,153		119,025
News Corp. - Class A		4,110		82,447
News Corp. - Class B		1,246		26,004
Omnicom Group, Inc.		2,131		158,717
Paramount Global - Class B		5,202		67,106
Publicis Groupe SA		2,461		186,279
Vivendi SE		6,770		59,292
WPP PLC		11,472		102,208
				1,164,731
Wireless Telecommunication Services – 0.3%
KDDI Corp.		15,997		489,676
SoftBank Corp.		30,668		347,110
SoftBank Group Corp.		10,991		463,001
T-Mobile US, Inc.(a)		5,584		782,039
Tele2 AB - Class B		5,235		40,035

21

Company	Shares		U.S. $ Value
Vodafone Group PLC		242,578	$	227,392
				2,349,253
				40,898,077
Energy – 3.4%
Energy Equipment & Services – 0.2%
Baker Hughes Co.		10,892		384,705
Halliburton Co.		9,693		392,567
Schlumberger NV		15,331		893,797
Tenaris SA		5,059		79,912
				1,750,981
Oil, Gas & Consumable Fuels – 3.2%
Aker BP ASA		3,337		92,141
Ampol Ltd.		2,625		56,674
APA Corp.		3,315		136,247
BP PLC		185,204		1,193,813
Chevron Corp.		19,140		3,227,387
ConocoPhillips		12,918		1,547,576
Coterra Energy, Inc.		8,171		221,026
Devon Energy Corp.		6,912		329,702
Diamondback Energy, Inc.		1,929		298,764
ENEOS Holdings, Inc.(b)		29,445		115,900
Eni SpA(b)		25,223		405,177
EOG Resources, Inc.		6,281		796,180
EQT Corp.		3,901		158,303
Equinor ASA		9,616		315,136
Exxon Mobil Corp.		43,185		5,077,692
Galp Energia SGPS SA		5,050		74,801
Hess Corp.		2,981		456,093
Idemitsu Kosan Co., Ltd.		2,100		48,143
Inpex Corp.		10,262		153,913
Kinder Morgan, Inc.		20,912		346,721
Marathon Oil Corp.		6,534		174,784
Marathon Petroleum Corp.		4,313		652,729
Neste Oyj(b)		4,479		151,698
Occidental Petroleum Corp.		7,158		464,411
OMV AG		1,582		75,564
ONEOK, Inc.		4,829		306,303
Phillips 66		4,804		577,201
Pioneer Natural Resources Co.		2,515		577,318
Repsol SA		13,607		223,822
Santos Ltd.		33,885		170,815
Shell PLC		71,559		2,268,006
Targa Resources Corp.		2,413		206,842
TotalEnergies SE		23,999		1,577,918
Valero Energy Corp.		3,809		539,773
Williams Cos., Inc. (The)		13,122		442,080
Woodside Energy Group Ltd.		20,346		473,066
				23,933,719
				25,684,700
Materials – 2.8%
Chemicals – 1.5%
Air Liquide SA		5,591		941,700
Air Products and Chemicals, Inc.		2,396		679,026

22

Company	Shares		U.S. $ Value
Akzo Nobel NV		1,864	$	134,391
Albemarle Corp.		1,266		215,271
Arkema SA		643		63,297
Asahi Kasei Corp.		12,639		79,556
BASF SE		9,552		432,371
Celanese Corp.		1,080		135,562
CF Industries Holdings, Inc.		2,081		178,425
Chr Hansen Holding A/S		1,143		69,921
Clariant AG (REG)(a)		2,173		34,261
Corteva, Inc.		7,657		391,732
Covestro AG(a), (c)		2,076		111,637
Croda International PLC		1,529		91,330
Dow, Inc.		7,585		391,083
DSM-Firmenich AG		1,985		167,738
DuPont de Nemours, Inc.		4,952		369,370
Eastman Chemical Co.		1,279		98,125
Ecolab, Inc.		2,728		462,123
EMS-Chemie Holding AG (REG)		77		52,179
Evonik Industries AG		2,112		38,523
FMC Corp.		1,346		90,142
Givaudan SA (REG)		99		322,327
ICL Group Ltd.		7,440		41,055
IMCD NV		609		76,999
International Flavors & Fragrances, Inc.		2,754		187,740
Johnson Matthey PLC		1,949		38,585
JSR Corp.		1,839		49,335
Linde PLC		5,264		1,960,050
LyondellBasell Industries NV - Class A		2,763		261,656
Mitsubishi Chemical Group Corp.		12,899		81,265
Mitsui Chemicals, Inc.		1,855		48,060
Mosaic Co. (The)		3,585		127,626
Nippon Paint Holdings Co., Ltd.(b)		10,025		67,329
Nippon Sanso Holdings Corp.(b)		1,792		42,428
Nissan Chemical Corp.		1,430		60,789
Nitto Denko Corp.(b)		1,511		99,084
Novozymes A/S - Class B		2,164		87,068
OCI NV		1,071		29,781
Orica Ltd.		4,655		46,414
PPG Industries, Inc.		2,541		329,822
Sherwin-Williams Co. (The)		2,552		650,888
Shin-Etsu Chemical Co., Ltd.		19,444		564,764
Sika AG (REG)		1,578		399,803
Solvay SA		809		89,402
Sumitomo Chemical Co., Ltd.		13,360		36,338
Symrise AG		1,425		135,658
Toray Industries, Inc.		13,972		72,697
Tosoh Corp.		2,620		33,591
Umicore SA		2,301		54,480
Wacker Chemie AG		193		27,560
Yara International ASA		1,775		67,023
				11,317,380
Construction Materials – 0.2%
CRH PLC (London)		7,745		427,014
Heidelberg Materials AG		1,566		121,287
Holcim AG(a)		5,563		356,082
James Hardie Industries PLC(a)		4,721		123,469

23

Company	Shares		U.S. $ Value
Martin Marietta Materials, Inc.		667	$	273,790
Vulcan Materials Co.		1,433		289,495
				1,591,137
Containers & Packaging – 0.1%					��
Amcor PLC		15,873		145,397
Avery Dennison Corp.		869		158,740
Ball Corp.		3,399		169,202
International Paper Co.		3,733		132,410
Packaging Corp. of America		970		148,943
Sealed Air Corp.		1,558		51,196
SIG Group AG(a)		3,290		81,050
Smurfit Kappa Group PLC		2,756		91,554
Westrock Co.		2,765		98,987
				1,077,479
Metals & Mining – 0.9%
Anglo American PLC		13,499		370,677
Antofagasta PLC		4,245		73,692
ArcelorMittal SA		5,462		136,747
BHP Group Ltd.		54,070		1,518,870
BlueScope Steel Ltd.		4,890		60,555
Boliden AB		2,899		83,192
Endeavour Mining PLC		1,963		37,894
Fortescue Metals Group Ltd.		18,074		240,259
Freeport-McMoRan, Inc.		15,466		576,727
Glencore PLC		111,941		637,449
IGO Ltd.(b)		7,059		56,649
JFE Holdings, Inc.(b)		5,273		77,219
Mineral Resources Ltd.(b)		1,937		83,178
Newcrest Mining Ltd.		9,611		151,436
Newmont Corp. (New York)		8,573		316,772
Nippon Steel Corp.(b)		9,129		213,875
Norsk Hydro ASA		13,549		84,787
Northern Star Resources Ltd.		12,068		80,135
Nucor Corp.		2,683		419,487
Pilbara Minerals Ltd.(b)		28,527		77,827
Rio Tinto Ltd.		4,016		289,665
Rio Tinto PLC		12,017		754,577
South32 Ltd.		46,987		101,455
Steel Dynamics, Inc.		1,680		180,130
Sumitomo Metal Mining Co., Ltd.		2,644		77,644
voestalpine AG		1,169		31,826
				6,732,724
Paper & Forest Products – 0.1%
Holmen AB - Class B		1,088		42,291
Mondi PLC		5,196		86,679
Oji Holdings Corp.		8,176		34,398
Stora Enso Oyj - Class R		6,150		77,080
Svenska Cellulosa AB SCA - Class B(b)		6,104		83,577
UPM-Kymmene Oyj		5,673		194,248
				518,273
				21,236,993

24

Company	Shares		U.S. $ Value
Utilities – 1.9%
Electric Utilities – 1.1%
Acciona SA(b)		276	$	35,150
Alliant Energy Corp.		2,726		132,075
American Electric Power Co., Inc.		5,558		418,073
BKW AG		248		43,658
Chubu Electric Power Co., Inc.		6,877		87,543
CK Infrastructure Holdings Ltd.		5,927		27,966
CLP Holdings Ltd.		17,345		128,073
Constellation Energy Corp.		3,469		378,399
Duke Energy Corp.		8,314		733,794
Edison International		4,135		261,704
EDP - Energias de Portugal SA		33,493		139,262
Elia Group SA/NV		311		30,435
Endesa SA(b)		3,434		69,887
Enel SpA		86,811		532,389
Entergy Corp.		2,281		210,993
Evergy, Inc.		2,478		125,635
Eversource Energy		3,766		218,993
Exelon Corp.		10,736		405,713
FirstEnergy Corp.		5,567		190,280
Fortum Oyj		4,474		51,885
Iberdrola SA		64,982		726,788
Kansai Electric Power Co., Inc. (The)		7,514		104,028
Mercury NZ Ltd.		6,864		25,081
NextEra Energy, Inc.		21,831		1,250,698
NRG Energy, Inc.		2,472		95,221
Origin Energy Ltd.		17,744		99,915
Orsted AS(c)		2,071		112,669
PG&E Corp.(a)		22,560		363,893
Pinnacle West Capital Corp.		1,222		90,037
Power Assets Holdings Ltd.		13,977		67,502
PPL Corp.		7,951		187,326
Redeia Corp. SA		4,124		64,876
Southern Co. (The)		11,765		761,431
SSE PLC		11,528		225,906
Terna - Rete Elettrica Nazionale		14,764		111,046
Tokyo Electric Power Co. Holdings, Inc.(a)		15,381		68,609
Verbund AG		742		60,363
Xcel Energy, Inc.		5,950		340,459
				8,977,755
Gas Utilities – 0.1%
APA Group		13,441		71,504
Atmos Energy Corp.		1,602		169,700
Enagas SA		2,507		41,515
Hong Kong & China Gas Co., Ltd.		118,302		82,313
Naturgy Energy Group SA(b)		1,300		35,367
Osaka Gas Co., Ltd.		3,778		62,166
Snam SpA		21,320		100,039
Tokyo Gas Co., Ltd.		4,251		96,381
				658,985
Independent Power and Renewable Electricity Producers – 0.1%
AES Corp. (The)		7,224		109,805
Corp. ACCIONA Energias Renovables SA(b)		682		17,567
EDP Renovaveis SA		3,279		53,701

25

Company	Shares		U.S. $ Value
Meridian Energy Ltd.		12,972	$	39,893
RWE AG		6,801		252,452
				473,418
Multi-Utilities – 0.5%
Ameren Corp.		2,834		212,068
CenterPoint Energy, Inc.		6,809		182,822
Centrica PLC		57,451		108,060
CMS Energy Corp.		3,147		167,137
Consolidated Edison, Inc.		3,721		318,257
Dominion Energy, Inc.		9,027		403,236
DTE Energy Co.		2,224		220,799
E.ON SE		23,737		280,714
Engie SA		19,310		296,141
National Grid PLC		39,300		470,002
NiSource, Inc.		4,458		110,024
Public Service Enterprise Group, Inc.		5,384		306,404
Sembcorp Industries Ltd.		9,500		35,310
Sempra		6,789		461,856
Veolia Environnement SA		7,340		212,171
WEC Energy Group, Inc.		3,403		274,112
				4,059,113
Water Utilities – 0.1%
American Water Works Co., Inc.		2,100		260,043
Severn Trent PLC		2,673		77,130
United Utilities Group PLC		6,870		79,383
				416,556
				14,585,827
Real Estate – 1.7%
Diversified REITs – 0.0%
Daiwa House REIT Investment Corp.		25		44,109
GPT Group (The)(b)		19,300		48,061
Land Securities Group PLC		7,097		50,872
Mirvac Group		39,723		53,991
Nomura Real Estate Master Fund, Inc.(a)		46		51,520
Stockland		24,051		60,194
				308,747
Health Care REITs – 0.1%
Healthpeak Properties, Inc.		5,901		108,343
Ventas, Inc.		4,341		182,886
Welltower, Inc.		5,596		458,424
				749,653
Hotel & Resort REITs – 0.0%
Host Hotels & Resorts, Inc.		7,677		123,369
Industrial REITs – 0.2%
CapitaLand Ascendas REIT		39,812		79,850
GLP J-Reit		51		45,584
Goodman Group		17,910		245,471
Mapletree Logistics Trust		35,327		43,309
Nippon Prologis REIT, Inc.(a)		25		46,674
Prologis, Inc.		9,966		1,118,285

26

Company	Shares		U.S. $ Value
Segro PLC		12,152	$	106,258
Warehouses De Pauw CVA		1,696		41,914
				1,727,345
Office REITs – 0.1%
Alexandria Real Estate Equities, Inc.		1,680		168,168
Boston Properties, Inc.		1,557		92,610
Covivio SA/France		524		23,243
Dexus		10,836		50,512
Gecina SA		518		52,814
Japan Real Estate Investment Corp.		15		58,451
Nippon Building Fund, Inc.		18		72,892
				518,690
Real Estate Management & Development – 0.3%
Azrieli Group Ltd.		442		22,689
Capitaland Investment Ltd./Singapore		26,947		60,888
CBRE Group, Inc. - Class A(a)		3,342		246,840
City Developments Ltd.		5,193		25,061
CK Asset Holdings Ltd.		20,190		106,050
CoStar Group, Inc.(a)		4,405		338,700
Daito Trust Construction Co., Ltd.		659		69,415
Daiwa House Industry Co., Ltd.		6,312		169,410
ESR Group Ltd.(c)		23,358		32,654
Fastighets AB Balder - Class B(a), (b)		6,354		28,484
Hang Lung Properties Ltd.		17,199		23,531
Henderson Land Development Co., Ltd.		14,633		38,426
Hongkong Land Holdings Ltd.		11,598		41,362
Hulic Co., Ltd.(b)		3,868		34,684
LEG Immobilien SE(a)		808		55,564
Lendlease Corp., Ltd.(b)		6,939		31,822
Mitsubishi Estate Co., Ltd.		11,724		152,951
Mitsui Fudosan Co., Ltd.		9,510		209,448
New World Development Co., Ltd.		15,213		29,496
Nomura Real Estate Holdings, Inc.		1,195		30,001
Sagax AB - Class B		2,177		41,353
Sino Land Co., Ltd.		38,832		43,672
Sumitomo Realty & Development Co., Ltd.		3,117		80,922
Sun Hung Kai Properties Ltd.		15,091		161,020
Swire Pacific Ltd. - Class A		3,708		24,975
Swire Properties Ltd.		11,788		24,516
Swiss Prime Site AG (REG)		814		74,521
Unibail-Rodamco-Westfield(a)		1,282		63,043
UOL Group Ltd.		4,678		21,882
Vonovia SE		7,826		187,498
Wharf Real Estate Investment Co., Ltd.		16,824		64,839
				2,535,717
Residential REITs – 0.2%
AvalonBay Communities, Inc.		1,532		263,106
Camden Property Trust		1,152		108,956
Equity Residential		3,721		218,460
Essex Property Trust, Inc.		692		146,766
Invitation Homes, Inc.		6,205		196,637
Mid-America Apartment Communities, Inc.		1,259		161,970
UDR, Inc.		3,270		116,641
				1,212,536

27

Company	Shares			U.S. $ Value
Retail REITs – 0.2%
CapitaLand Integrated Commercial Trust			53,735	$	72,516
Federal Realty Investment Trust			791		71,688
Japan Metropolitan Fund Invest			77		49,939
Kimco Realty Corp.			6,687		117,624
Klepierre SA			2,286		55,974
Link REIT			26,342		128,800
Mapletree Pan Asia Commercial Trust			21,757		22,707
Realty Income Corp.			7,646		381,841
Regency Centers Corp.			1,773		105,387
Scentre Group			55,399		87,052
Simon Property Group, Inc.			3,530		381,346
Vicinity Ltd.			38,985		42,250
					1,517,124
Specialized REITs – 0.6%
American Tower Corp.			5,029		827,019
Crown Castle, Inc.			4,678		430,516
Digital Realty Trust, Inc.			3,266		395,251
Equinix, Inc.			1,009		732,796
Extra Space Storage, Inc.			2,279		277,081
Iron Mountain, Inc.			3,148		187,149
Public Storage			1,707		449,829
SBA Communications Corp.			1,169		233,999
VICI Properties, Inc.			10,933		318,150
Weyerhaeuser Co.			7,883		241,693
					4,093,483
					12,786,664
Total Common Stocks (cost $561,026,193)					544,351,324
	Notional Amount
PURCHASED OPTIONS – PUTS – 0.5%
Options on Indices – 0.5%
Euro STOXX 50 Index Expiration: Oct 2023; Contracts: 419; Exercise Price: EUR 4,225.00; Counterparty: Morgan Stanley & Co., Inc.(a)		EUR	17,702,750		350,403
FTSE 100 Index Expiration: Oct 2023; Contracts: 107; Exercise Price: GBP 7,550.00; Counterparty: Morgan Stanley & Co., Inc.(a)		GBP	8,078,500		86,816
Nikkei 225 Index Expiration: Oct 2023; Contracts: 80; Exercise Price: JPY 31,500.00; Counterparty: Morgan Stanley & Co., Inc.(a)		JPY	2,520,000,000		120,450
S&P 500 Index Expiration: Oct 2023; Contracts: 280; Exercise Price: USD 4,380.00; Counterparty: Morgan Stanley & Co., Inc.(a)		USD	122,640,000		2,889,600
Total Purchased Options - Puts (premiums paid $1,212,654)					3,447,269

28

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 22.3%
Investment Companies – 22.3%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(d) (e) (f) (cost $168,174,205)		168,174,205	$	168,174,205
Total Investments Before Security Lending Collateral for Securities Loaned – 95.1% (cost $730,413,052)				715,972,798
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%
Investment Companies – 0.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(d) (e) (f) (cost $3,053,434)		3,053,434		3,053,434
Total Investments – 95.5% (cost $733,466,486)(g)				719,026,232
Other assets less liabilities – 4.5%				33,788,432
Net Assets – 100.0%			$	752,814,664

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
10 Yr Canadian Bond Futures		96		December 2023		$	8,137,294		$	(252,494	)
Euro-BTP Futures		136		December 2023			15,777,639			(801,332	)
Euro-Bund Futures		39		December 2023			5,304,181			(162,921	)
Euro-OAT Futures		155		December 2023			20,189,248			(683,580	)
FTSE 100 Index Futures		14		December 2023			1,310,314			(21,777	)
Long Gilt Futures		143		December 2023			16,428,499			(66,480	)
MSCI EAFE Futures		8		December 2023			816,600			(15,952	)
Nikkei 225 (CME) Futures		10		December 2023			1,592,500			(38,782	)
S&P 500 E-Mini Futures		1		December 2023			216,275			(10,515	)
S&P Mid 400 E-Mini Futures		5		December 2023			1,260,200			(40,602	)
S&P/TSX 60 Index Futures		93		December 2023			16,108,360			(424,337	)
TOPIX Index Futures		6		December 2023			932,883			(11,873	)
U.S. T-Note 5 Yr (CBT) Futures		426		December 2023			44,883,094			(316,797)
U.S. T-Note 10 Yr (CBT) Futures		766		December 2023			82,775,875			(1,771,130	)
U.S. Ultra Bond (CBT) Futures		109		December 2023			12,936,938			(982,595	)
Sold Contracts
Euro STOXX 50 Index Futures		200		December 2023			8,889,359			149,195
Hang Seng Index Futures		1		October 2023			114,220			1,016
MSCI Singapore IX ETS Futures		22		October 2023			459,715			(7,911	)
OMXS 30 Index Futures		57		October 2023			1,126,900			13,553
S&P 500 E-Mini Futures		148		December 2023			32,008,700			1,372,114
SPI 200 Futures		80		December 2023			9,111,887			205,817
									$	(3,867,383	)

29

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		USD	3,616		EUR	3,304		10/12/2023		$	(121,715	)
Bank of America, NA		AUD	10,953		USD	7,097		11/08/2023			46,566
Bank of America, NA		CHF	9,105		USD	10,210		11/16/2023			216,402
Bank of America, NA		SEK	39,686		USD	3,602		12/07/2023			(41,225	)
BNP Paribas SA		USD	6,959		JPY	1,009,967		10/19/2023			(183,487	)
Morgan Stanley Capital Services, Inc.		EUR	39,301		USD	43,331		10/12/2023			1,764,027
Morgan Stanley Capital Services, Inc.		JPY	5,102,917		USD	35,579		10/19/2023			1,344,988
Morgan Stanley Capital Services, Inc.		CAD	6,725		USD	4,966		10/27/2023			12,977
Morgan Stanley Capital Services, Inc.		GBP	12,844		USD	16,030		11/17/2023			354,900
State Street Bank & Trust Co.		NZD	636		USD	378		10/27/2023			(3,275)
State Street Bank & Trust Co.		NOK	3,521		USD	327		12/07/2023			(2,859	)
										$	3,387,299

CALL WRITTEN OPTIONS

Description

Counterparty

Contracts

Exercise Price

Expiration Month

Notional (000)

Premiums Received

U.S. $ Value

Nikkei 225 Index(h)

Morgan Stanley & Co., Inc.

80

JPY

34,125.00

October 2023

JPY

2,730,000

$

54,279

$

(4,550

)

PUT WRITTEN OPTIONS

Description	Counterparty	Contracts	Exercise Price			Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index(i)	Morgan Stanley & Co., Inc.	419		EUR	4,025.00		October 2023		EUR	16,865	$	45,335	$	(76,637	)
FTSE 100 Index(i)	Morgan Stanley & Co., Inc.	107		GBP	7,200.00		October 2023		GBP	7,704		11,782		(12,402	)
Nikkei 225 Index(h)	Morgan Stanley & Co., Inc.	80		JPY	30,125.00		October 2023		JPY	2,410,000		47,249		(19,272	)
S&P 500 Index(j)	Morgan Stanley & Co., Inc.	280		USD	4,170.00		October 2023		USD	116,760		251,431		(665,000	)
											$	355,797	$	(773,311	)

(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, 2023, the aggregate market value of these securities amounted to $2,048,110 or 0.3% of net assets.

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

(e) 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.

(f) Affiliated investments.

30

(g) As of September 30, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $67,512,133 and gross unrealized depreciation of investments was $(82,800,256), resulting in net unrealized depreciation of $(15,288,123).

(h) One contract relates to 1000 shares.

(i) One contract relates to 10 shares.

(j) 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

NZD – New Zealand Dollar

SEK – Swedish Krona

USD – United States Dollar

Glossary:

ADR – American Depositary Receipt

BTP – Buoni del Tesoro Poliennali

CBT – Chicago Board of Trade

CME – Chicago Mercantile Exchange

EAFE – Europe, Australia, and Far East

ETS – Emission Trading Scheme

FTSE – Financial Times Stock Exchange

MSCI – Morgan Stanley Capital International

OAT – Obligations Assimilables du Trésor

OMXS – Stockholm Stock 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, 2023 (unaudited)

55.1	%	United States
5.0	%	Japan
2.9	%	United Kingdom
2.5	%	France
2.1	%	Switzerland
1.9	%	Germany
1.7	%	Australia
0.9	%	Netherlands
0.7	%	Denmark
0.6	%	Sweden
0.6	%	Spain
0.5	%	Italy
0.5	%	Hong Kong
1.5	%	Other
23.5	%	Short-Term Investments
100.0	%	Total Investments

¹  The Portfolio’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.3% or less in the following: Austria, Belgium, Brazil, Chile, China, Finland, Ireland, Israel, Jordan, Luxembourg, Macau, New Zealand, Norway, Portugal, Singapore, South Africa and South Korea.

31

AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

September 30, 2023 (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.

32

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, 2023:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Common Stocks:
Information Technology	$	106,773,557		$	11,972,229		$	—	$	118,745,786
Financials		49,697,224			29,725,817			—		79,423,041
Health Care		52,197,826			20,615,658			—		72,813,484
Consumer Discretionary		41,450,774			18,838,266			—		60,289,040
Industrials		32,390,155			24,547,435			—		56,937,590
Consumer Staples		25,684,534			15,265,588			—		40,950,122
Communication Services		34,557,173			6,340,904			—		40,898,077
Energy		18,208,201			7,476,499			—		25,684,700
Materials		9,489,917			11,747,076			—		21,236,993
Utilities		9,438,117			5,147,710			—		14,585,827
Real Estate		9,201,530			3,585,134			—		12,786,664
Purchased Options - Puts		—			3,447,269			—		3,447,269
Short-Term Investments		168,174,205			—			—		168,174,205
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		3,053,434			—			—		3,053,434
Total Investments in Securities		560,316,647			158,709,585			—		719,026,232
Other Financial Instruments(a):
Assets:
Futures		1,741,695			—			—		1,741,695
Forward Currency Exchange Contracts		—			3,739,860			—		3,739,860
Liabilities:
Futures		(5,609,078	)		—			—		(5,609,078	)
Forward Currency Exchange Contracts		—			(352,561	)		—		(352,561	)
Call Written Options		—			(4,550	)		—		(4,550	)
Put Written Options		—			(773,311	)		—		(773,311	)
Total	$	556,449,264		$	161,319,023		$	—	$	717,768,287

^(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, written options and written swaptions which are valued at market value.

33

A summary of the Portfolio’s transactions in AB mutual funds for the nine months ended September 30, 2023 is as follows:

Portfolio	Market Value 12/31/2022 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 09/30/2023 (000)		Dividend Income (000)
Government Money Market Portfolio	$	244,271	$	80,796	$	156,893	$	168,174	$	7,968
Government Money Market Portfolio*		64		16,536		13,547		3,053		51
Total	$	244,335	$	97,332	$	170,440	$	171,227	$	8,019

* Investments of cash collateral for securities lending transactions.

34