AB Municipal Income Fund II
AB Massachusetts Portfolio
Portfolio of Investments
August 31, 2023 (unaudited)
Principal Amount (000) | U.S. $ Value | |||||||
MUNICIPAL OBLIGATIONS – 96.5% | ||||||||
Long-Term Municipal Bonds – 95.0% | ||||||||
Massachusetts – 81.6% | ||||||||
City of Quincy MA | $ | 3,060 | $ | 3,392,420 | ||||
City of Worcester MA | 2,600 | 1,998,751 | ||||||
Commonwealth of Massachusetts | 10,000 | 10,283,088 | ||||||
Series 2018-A | 5,000 | 5,222,643 | ||||||
Series 2022-B | 4,965 | 3,911,066 | ||||||
Series 2023-B | 2,000 | 2,202,861 | ||||||
Commonwealth of Massachusetts Transportation Fund Revenue | 2,000 | 2,116,635 | ||||||
Martha’s Vineyard Land Bank | 1,000 | 1,013,646 | ||||||
Massachusetts Bay Transportation Authority Assessment Revenue | 2,000 | 1,999,914 | ||||||
Massachusetts Bay Transportation Authority Sales Tax Revenue | 5,000 | 5,452,159 | ||||||
Massachusetts Development Finance Agency (Atrius Health Obligated Group) | 1,400 | 1,547,700 | ||||||
Massachusetts Development Finance Agency (Baystate Medical Obligated Group) | 7,000 | 7,004,374 | ||||||
Massachusetts Development Finance Agency (Beth Israel Lahey Health Obligated Group) | 5,000 | 5,051,197 | ||||||
Series 2019 | 1,000 | 1,037,563 | ||||||
Massachusetts Development Finance Agency (Boston Medical Center Corp. Obligated Group) | 3,755 | 3,766,219 | ||||||
Series 2023 | 2,000 | 2,061,812 | ||||||
Massachusetts Development Finance Agency (Brandeis University) | 1,795 | 1,938,632 | ||||||
5.00%, 10/01/2039 | 1,780 | 1,879,452 |
1
Principal Amount (000) | U.S. $ Value | |||||||
Massachusetts Development Finance Agency (Children’s Hospital Corp. Obligated Group (The)) | $ | 1,055 | $ | 1,071,547 | ||||
Massachusetts Development Finance Agency (Emerson College) | 700 | 714,465 | ||||||
5.00%, 01/01/2035 | 735 | 746,836 | ||||||
5.00%, 01/01/2036 | 1,000 | 1,011,711 | ||||||
5.25%, 01/01/2042 | 1,000 | 1,003,853 | ||||||
Massachusetts Development Finance Agency (Emmanuel College/MA) | 2,000 | 2,026,376 | ||||||
5.00%, 10/01/2034 | 2,100 | 2,116,245 | ||||||
Massachusetts Development Finance Agency (Equitable School Revolving Fund LLC Obligated Group) | 1,000 | 884,636 | ||||||
Massachusetts Development Finance Agency (Franklin W Olin College of Engineering, Inc.) | 5,000 | 5,010,223 | ||||||
Massachusetts Development Finance Agency (Lasell University) | 350 | 335,231 | ||||||
4.00%, 07/01/2031 | 365 | 347,268 | ||||||
4.00%, 07/01/2040 | 2,000 | 1,681,099 | ||||||
4.00%, 07/01/2050 | 1,000 | 759,427 | ||||||
Massachusetts Development Finance Agency (Lesley University) | 2,055 | 2,054,856 | ||||||
Massachusetts Development Finance Agency (Mass General Brigham Inc.) | 5,855 | 5,365,126 | ||||||
Massachusetts Development Finance Agency (MCPHS University) | 1,000 | 997,117 | ||||||
Massachusetts Development Finance Agency (Merrimack College) | 1,825 | 1,462,516 | ||||||
Series 2022 | 1,000 | 950,536 | ||||||
Massachusetts Development Finance Agency (NewBridge on the Charles, Inc. Obligated Group) | 250 | 247,414 | ||||||
Massachusetts Development Finance Agency (NewBridge on the Charles, Inc.) | 2,000 | 1,772,422 |
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Principal Amount (000) | U.S. $ Value | |||||||
Massachusetts Development Finance Agency (Northeastern University) | $ | 5,000 | $ | 5,427,827 | ||||
Massachusetts Development Finance Agency (President & Fellows of Harvard College) | 700 | 831,096 | ||||||
5.00%, 07/15/2040 | 2,400 | 2,721,437 | ||||||
Massachusetts Development Finance Agency (Salem Community Corp. Obligated Group) | 1,020 | 920,949 | ||||||
Massachusetts Development Finance Agency (Simmons University) | 2,455 | 2,491,356 | ||||||
Series 2020-M | 1,000 | 783,947 | ||||||
Massachusetts Development Finance Agency (South Shore Hospital, Inc. Obligated Group) | 2,000 | 1,843,500 | ||||||
5.00%, 07/01/2041 | 2,500 | 2,508,417 | ||||||
Massachusetts Development Finance Agency (Southcoast Health System Obligated Group) | 1,500 | 1,501,667 | ||||||
Massachusetts Development Finance Agency (Springfield College) | 3,000 | 2,247,013 | ||||||
Series 2021-B | 1,000 | 772,404 | ||||||
Massachusetts Development Finance Agency (Suffolk University) | 1,250 | 1,291,253 | ||||||
Series 2020-A | 1,400 | 1,176,485 | ||||||
Series 2021 | 1,270 | 1,059,766 | ||||||
4.00%, 07/01/2051 | 1,000 | 806,239 | ||||||
Massachusetts Development Finance Agency (Trustees of Boston College) | 1,000 | 1,056,703 | ||||||
Massachusetts Development Finance Agency (Trustees of The Deerfield Academy/The) | 1,300 | 1,512,675 | ||||||
5.00%, 10/01/2033(b) | 1,000 | 1,173,400 | ||||||
Massachusetts Development Finance Agency (Tufts Medicine Obligated Group) | 1,000 | 991,151 | ||||||
5.00%, 07/01/2044 | 3,000 | 2,911,837 |
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Principal Amount (000) | U.S. $ Value | |||||||
Massachusetts Development Finance Agency (UMass Memorial Health Care Obligated Group) | $ | 1,500 | $ | 1,526,143 | ||||
Massachusetts Development Finance Agency (Woods Hole Oceanographic Institution State Lease) | 3,000 | 3,084,538 | ||||||
Massachusetts Port Authority | 4,685 | 5,042,182 | ||||||
Series 2019-C | 1,000 | 1,020,328 | ||||||
Series 2021-E | 2,250 | 2,395,999 | ||||||
5.00%, 07/01/2051 | 1,000 | 1,026,924 | ||||||
Massachusetts Port Authority (Bosfuel Corp.) | 2,000 | 2,120,172 | ||||||
Massachusetts School Building Authority | 3,770 | 3,849,584 | ||||||
Massachusetts School Building Authority (Massachusetts School Building Authority Sales Tax) | 4,000 | 4,218,798 | ||||||
Massachusetts Water Resources Authority | 5,500 | 5,801,470 | ||||||
Town of Weymouth MA | 2,000 | 1,242,957 | ||||||
University of Massachusetts Building Authority | 2,000 | 2,036,352 | ||||||
University of Massachusetts Building Authority (University of Massachusetts) | 2,500 | 2,680,860 | ||||||
Series 2020 | 2,000 | 1,464,594 | ||||||
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163,979,059 | ||||||||
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American Samoa – 0.2% | ||||||||
American Samoa Economic Development Authority (Territory of American Samoa) | 395 | 426,865 | ||||||
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Arizona – 0.3% | ||||||||
Salt Verde Financial Corp. (Citigroup, Inc.) | 660 | 675,755 | ||||||
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Principal Amount (000) | U.S. $ Value | |||||||
Connecticut – 0.5% | ||||||||
State of Connecticut | $ | 1,000 | $ | 1,032,753 | ||||
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Florida – 1.5% | ||||||||
County of Miami-Dade FL Aviation Revenue | 3,000 | 3,024,254 | ||||||
Palm Beach County Health Facilities Authority (Federation CCRC Operations Corp. Obligated Group) | 100 | 71,193 | ||||||
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3,095,447 | ||||||||
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Guam – 3.1% | ||||||||
Antonio B Won Pat International Airport Authority | 535 | 396,752 | ||||||
Series 2023 | 100 | 97,412 | ||||||
5.375%, 10/01/2043 | 200 | 189,637 | ||||||
Guam Government Waterworks Authority | 1,525 | 1,531,332 | ||||||
Guam Power Authority | 350 | 356,953 | ||||||
5.00%, 10/01/2040 | 1,420 | 1,430,465 | ||||||
Territory of Guam | 210 | 213,663 | ||||||
Territory of Guam (Territory of Guam Business Privilege Tax) | 2,255 | 1,935,269 | ||||||
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6,151,483 | ||||||||
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Illinois – 0.9% | ||||||||
Chicago Board of Education | 650 | 669,282 | ||||||
Illinois Finance Authority | 1,050 | 1,078,729 | ||||||
Village of Bolingbrook IL Sales Tax Revenue (Village of Bolingbrook IL) | 114 | 112,818 | ||||||
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1,860,829 | ||||||||
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Indiana – 0.1% | ||||||||
Indiana Finance Authority (Brightmark Plastics Renewal Indiana LLC) | 260 | 193,472 | ||||||
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Principal Amount (000) | U.S. $ Value | |||||||
Michigan – 0.1% | ||||||||
City of Detroit MI | $ | 90 | $ | 91,878 | ||||
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New Jersey – 0.6% | ||||||||
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Fed Hwy Grant) | 1,170 | 1,219,069 | ||||||
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North Carolina – 0.7% | ||||||||
North Carolina Medical Care Commission (Aldersgate United Methodist Retirement Community, Inc.) | 540 | 443,583 | ||||||
North Carolina Turnpike Authority | 1,000 | 1,042,817 | ||||||
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1,486,400 | ||||||||
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Pennsylvania – 1.1% | ||||||||
City of Philadelphia PA | 1,000 | 1,058,938 | ||||||
Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP) | 1,140 | 1,155,438 | ||||||
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2,214,376 | ||||||||
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Puerto Rico – 2.8% | ||||||||
Commonwealth of Puerto Rico | 63 | 61,075 | ||||||
Zero Coupon, 07/01/2033 | 205 | 124,622 | ||||||
4.00%, 07/01/2033 | 100 | 93,415 | ||||||
5.375%, 07/01/2025 | 200 | 203,699 | ||||||
5.625%, 07/01/2027 | 300 | 312,565 | ||||||
5.625%, 07/01/2029 | 120 | 126,776 | ||||||
5.75%, 07/01/2031 | 100 | 107,953 | ||||||
HTA TRRB Custodial Trust | ||||||||
Series 2022 5.25%, 07/01/2034 | 260 | 255,978 | ||||||
5.25%, 07/01/2036 | 230 | 231,786 | ||||||
5.25%, 07/01/2041 | 100 | 99,352 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority | 610 | 624,827 | ||||||
5.00%, 07/01/2035(a) | 500 | 501,398 | ||||||
Puerto Rico Electric Power Authority | 240 | 238,615 | ||||||
NATL Series 2007-V | 300 | 294,296 |
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Principal Amount (000) | U.S. $ Value | |||||||
Puerto Rico Highway & Transportation Authority | $ | 295 | $ | 290,206 | ||||
Series 2022-B | 220 | 141,350 | ||||||
Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Auth (AES Puerto Rico LP) | 575 | 402,500 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 238 | 185,908 | ||||||
Zero Coupon, 07/01/2046 | 1,000 | 277,278 | ||||||
Series 2019-A | 180 | 170,463 | ||||||
4.55%, 07/01/2040 | 22 | 21,396 | ||||||
5.00%, 07/01/2058 | 815 | 788,843 | ||||||
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5,554,301 | ||||||||
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Tennessee – 0.2% | ||||||||
Bristol Industrial Development Board (Bristol Industrial Development Board Sales Tax) | 310 | 285,254 | ||||||
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Texas – 0.8% | ||||||||
Mission Economic Development Corp. (Natgasoline LLC) | 540 | 526,665 | ||||||
North Texas Tollway Authority (North Texas Tollway System) | 1,000 | 1,013,038 | ||||||
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1,539,703 | ||||||||
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Wisconsin – 0.5% | ||||||||
Wisconsin Public Finance Authority (Celanese US Holdings LLC) | 1,000 | 1,013,871 | ||||||
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Total Long-Term Municipal Bonds | 190,820,515 | |||||||
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Short-Term Municipal Notes – 1.5% | ||||||||
Massachusetts – 1.5% | ||||||||
Massachusetts Transportation Trust Fund Metropolitan Highway System Revenue | 2,000 | 2,000,000 | ||||||
Town of Nantucket MA | 1,000 | 1,012,223 | ||||||
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Total Short-Term Municipal Notes | 3,012,223 | |||||||
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Total Municipal Obligations | 193,832,738 | |||||||
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Principal Amount (000) | U.S. $ Value | |||||||
ASSET-BACKED SECURITIES – 0.7% | ||||||||
Other ABS - Fixed Rate – 0.7% | ||||||||
Commonwealth of Massachusetts | $ | 1,507 | $ | 1,465,958 | ||||
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SHORT-TERM INVESTMENTS – 4.0% | ||||||||
U.S. Treasury Bills – 4.0% | ||||||||
U.S. Treasury Bill | 8,000 | 7,935,161 | ||||||
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Total Investments – 101.2% | 203,233,857 | |||||||
Other assets less liabilities – (1.2)% | (2,317,508 | ) | ||||||
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Net Assets – 100.0% | $ | 200,916,349 | ||||||
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CENTRALLY CLEARED INFLATION (CPI) SWAPS
Rate Type | ||||||||||||||||||||||||
Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Received | Market Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||
USD | 1,325 | 01/15/2025 | 2.565% | CPI# | Maturity | $ | 123,125 | $ | — | $ | 123,125 | |||||||||||||
USD | 663 | 01/15/2025 | 2.613% | CPI# | Maturity | 60,340 | — | 60,340 | ||||||||||||||||
USD | 662 | 01/15/2025 | 2.585% | CPI# | Maturity | 60,983 | — | 60,983 | ||||||||||||||||
USD | 510 | 01/15/2025 | 4.028% | CPI# | Maturity | 16,715 | — | 16,715 | ||||||||||||||||
USD | 2,270 | 01/15/2026 | CPI# | 3.765% | Maturity | (65,626 | ) | — | (65,626 | ) | ||||||||||||||
USD | 2,060 | 01/15/2027 | CPI# | 3.466% | Maturity | (69,291 | ) | (1,893 | ) | (67,398 | ) | |||||||||||||
USD | 2,050 | 01/15/2027 | CPI# | 3.320% | Maturity | (87,357 | ) | — | (87,357 | ) | ||||||||||||||
USD | 1,660 | 01/15/2027 | CPI# | 3.323% | Maturity | (70,433 | ) | — | (70,433 | ) | ||||||||||||||
USD | 5,260 | 01/15/2028 | 1.230% | CPI# | Maturity | 929,054 | — | 929,054 | ||||||||||||||||
USD | 3,970 | 01/15/2028 | 0.735% | CPI# | Maturity | 842,250 | — | 842,250 | ||||||||||||||||
USD | 3,900 | 01/15/2029 | CPI# | 3.390% | Maturity | (86,893 | ) | — | (86,893 | ) | ||||||||||||||
USD | 2,420 | 01/15/2029 | CPI# | 3.735% | Maturity | 15,154 | — | 15,154 | ||||||||||||||||
USD | 1,250 | 01/15/2029 | CPI# | 3.331% | Maturity | (33,869 | ) | — | (33,869 | ) | ||||||||||||||
USD | 870 | 01/15/2030 | 1.572% | CPI# | Maturity | 146,488 | — | 146,488 | ||||||||||||||||
USD | 870 | 01/15/2030 | 1.587% | CPI# | Maturity | 145,314 | — | 145,314 | ||||||||||||||||
USD | 1,300 | 01/15/2031 | 2.782% | CPI# | Maturity | 85,551 | — | 85,551 | ||||||||||||||||
USD | 1,130 | 01/15/2031 | 2.680% | CPI# | Maturity | 85,448 | — | 85,448 | ||||||||||||||||
USD | 1,000 | 01/15/2031 | 2.989% | CPI# | Maturity | 45,680 | — | 45,680 | ||||||||||||||||
USD | 1,000 | 01/15/2032 | CPI# | 3.064% | Maturity | (33,044 | ) | — | (33,044 | ) | ||||||||||||||
USD | 950 | 04/15/2032 | CPI# | 2.909% | Maturity | (43,558 | ) | — | (43,558 | ) | ||||||||||||||
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$ | 2,066,031 | $ | (1,893 | ) | $ | 2,067,924 | ||||||||||||||||||
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# | Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI). |
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CENTRALLY CLEARED INTEREST RATE SWAPS
Rate Type | ||||||||||||||||||||||||
Notional | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Paid/ | Market Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||||||||
USD | 10,700 | 01/15/2027 | 1 Day SOFR | 3.540% | Annual | $ | (331,964 | ) | $ | — | $ | (331,964 | ) | |||||||||||
USD | 6,100 | 01/15/2027 | 1 Day SOFR | 4.315% | Annual | 940 | — | 940 | ||||||||||||||||
USD | 2,370 | 04/30/2030 | 1 Day SOFR | 3.500% | Annual | (64,397 | ) | — | (64,397 | ) | ||||||||||||||
USD | 8,100 | 07/31/2030 | 1 Day SOFR | 3.806% | Annual | (52,117 | ) | — | (52,117 | ) | ||||||||||||||
USD | 3,800 | 07/31/2030 | 1 Day SOFR | 4.016% | Annual | 26,408 | — | 26,408 | ||||||||||||||||
USD | 2,800 | 07/31/2030 | 1 Day SOFR | 3.781% | Annual | (21,118 | ) | — | (21,118 | ) | ||||||||||||||
USD | 5,100 | 04/15/2032 | 3.101% | 1 Day SOFR | Annual | 312,402 | — | 312,402 | ||||||||||||||||
USD | 4,500 | 04/15/2032 | 3.250% | 1 Day SOFR | Annual | 224,407 | — | 224,407 | ||||||||||||||||
USD | 2,750 | 04/15/2032 | 1.280% | 1 Day SOFR | Annual | 550,340 | — | 550,340 | ||||||||||||||||
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$ | 644,901 | $ | — | $ | 644,901 | |||||||||||||||||||
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INTEREST RATE SWAPS
Rate Type | ||||||||||||||||||||||||||||
Swap Counterparty | Notional Amount (000) | Termination Date | Payments made by the Fund | Payments received by the Fund | Payment Received | Market Value | Upfront Premiums Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||
Citibank, NA | USD | 3,025 | 10/09/2029 | 1.125% | SIFMA* | Quarterly | $ | 334,877 | $ | — | $ | 334,877 |
* | Variable interest rate based on the Securities Industry & Financial Markets Association (SIFMA) Municipal Swap Index. |
(a) | 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 August 31, 2023, the aggregate market value of these securities amounted to $4,578,317 or 2.3% of net assets. |
(b) | When-Issued or delayed delivery security. |
(c) | Variable Rate Demand Notes are instruments whose interest rates change on a specific date (such as coupon date or interest payment date) or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). This instrument is payable on demand and is secured by letters of credit or other credit support agreements from major banks. |
(d) | As of August 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $4,353,364 and gross unrealized depreciation of investments was $(14,273,419), resulting in net unrealized depreciation of $(9,920,055). |
As of August 31, 2023, the Portfolio’s percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 1.8% and 0.0%, respectively.
Glossary:
AGM – Assured Guaranty Municipal
BAM – Build American Mutual
CCRC – Congregate Care Retirement Center
ETM – Escrowed to Maturity
NATL – National Interstate Corporation
SOFR – Secured Overnight Financing Rate
9
AB Municipal Income Fund II
AB Massachusetts Portfolio
August 31, 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.
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The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of August 31, 2023:
Investments in Securities: | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Long-Term Municipal Bonds | $ | — | $ | 190,820,515 | $ | — | $ | 190,820,515 | ||||||||
Short-Term Municipal Notes | — | 3,012,223 | — | 3,012,223 | ||||||||||||
Asset-Backed Securities | — | 1,465,958 | — | 1,465,958 | ||||||||||||
Short-Term Investments | — | 7,935,161 | — | 7,935,161 | ||||||||||||
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Total Investments in Securities | — | 203,233,857 | — | 203,233,857 | ||||||||||||
Other Financial Instruments(a): | ||||||||||||||||
Assets: | ||||||||||||||||
Centrally Cleared Inflation (CPI) Swaps | — | 2,556,102 | — | 2,556,102 | ||||||||||||
Centrally Cleared Interest Rate Swaps | — | 1,114,497 | — | 1,114,497 | ||||||||||||
Interest Rate Swaps | — | 334,877 | — | 334,877 | ||||||||||||
Liabilities: | ||||||||||||||||
Centrally Cleared Inflation (CPI) Swaps | — | (490,071 | ) | — | (490,071 | ) | ||||||||||
Centrally Cleared Interest Rate Swaps | — | (469,596 | ) | — | (469,596 | ) | ||||||||||
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Total | $ | — | $ | 206,279,666 | $ | — | $ | 206,279,666 | ||||||||
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(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. |
A summary of the Portfolio’s transactions in AB mutual funds for the three months ended August 31, 2023 is as follows:
Fund | Market Value 05/31/2023 (000) | Purchases at Cost (000) | Sales Proceeds (000) | Market Value 08/31/2023 (000) | Dividend Income (000) | |||||||||||||||
Government Money Market Portfolio | $ | 288 | $ | 24,109 | $ | 24,397 | $ | 0 | $ | 47 |
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