AB International Value Fund

Portfolio of Investments

February 28, 2026 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 98.1%
Industrials – 19.2%
Aerospace & Defense – 5.3%
Airbus SE		12,981	$	2,818,862
BAE Systems PLC		76,525		2,185,213
CSG NV(a)		18,321		689,059
Melrose Industries PLC		264,742		2,014,485
				7,707,619
Construction & Engineering – 2.8%
Shimizu Corp.		78,900		1,763,504
Vinci SA		13,370		2,219,234
				3,982,738
Electrical Equipment – 1.9%
Mitsubishi Electric Corp.		72,100		2,744,342
Ground Transportation – 1.0%
Keisei Electric Railway Co., Ltd.(b)		171,700		1,490,806
Machinery – 4.2%
CNH Industrial NV		161,325		1,984,297
Techtronic Industries Co., Ltd. - Class H		126,000		2,040,655
Toyota Industries Corp.(a) (b)		15,900		2,059,182
				6,084,134
Passenger Airlines – 1.5%
Ryanair Holdings PLC (Sponsored ADR)		31,846		2,149,287
Professional Services – 2.5%
Bureau Veritas SA		63,460		2,205,329
Persol Holdings Co., Ltd.		857,200		1,369,789
				3,575,118
				27,734,044
Financials – 19.1%
Banks – 12.6%
ABN AMRO Bank NV		63,660		2,132,148
Barclays PLC		307,420		1,865,952
BPER Banca SpA		166,970		2,351,594
Danske Bank A/S		47,250		2,465,245
Erste Group Bank AG		17,513		2,078,691
Eurobank SA		387,492		1,795,429
Japan Post Bank Co., Ltd.		124,900		2,445,174
Resona Holdings, Inc.		245,700		2,997,986
				18,132,219
Insurance – 6.5%
ASR Nederland NV		27,297		1,983,476
AXA SA		52,811		2,582,568
Beazley PLC		140,310		2,390,713
Prudential PLC		163,500		2,504,247
				9,461,004
				27,593,223

1

Company	Shares		U.S. $ Value
Consumer Discretionary – 12.1%
Automobile Components – 1.2%
Toyo Tire Corp.		56,900	$	1,753,431
Automobiles – 1.6%
Honda Motor Co., Ltd.		234,400		2,348,088
Hotels, Restaurants & Leisure – 2.8%
Accor SA		37,646		2,185,168
Yum China Holdings, Inc.		33,095		1,817,246
				4,002,414
Household Durables – 2.0%
Sony Group Corp.		124,700		2,866,636
Specialty Retail – 3.0%
Industria de Diseno Textil SA		45,009		3,005,583
JD Sports Fashion PLC(b)		1,203,007		1,325,263
				4,330,846
Textiles, Apparel & Luxury Goods – 1.5%
Burberry Group PLC(a)		137,816		2,154,589
				17,456,004
Health Care – 10.6%
Health Care Equipment & Supplies – 1.1%
Siemens Healthineers AG		31,626		1,568,637
Life Sciences Tools & Services – 0.9%
ICON PLC(a)		11,816		1,277,782
Pharmaceuticals – 8.6%
Haleon PLC		496,964		2,727,805
Novo Nordisk A/S - Class B		57,314		2,167,817
Roche Holding AG		11,390		5,420,517
Takeda Pharmaceutical Co., Ltd.		58,700		2,196,977
				12,513,116
				15,359,535
Communication Services – 7.2%
Diversified Telecommunication Services – 3.3%
Deutsche Telekom AG (REG)		69,775		2,802,174
Koninklijke KPN NV		354,066		2,012,729
				4,814,903
Entertainment – 0.9%
Toho Co., Ltd./Tokyo		132,000		1,322,832
Media – 1.2%
Publicis Groupe SA		19,765		1,759,976
Wireless Telecommunication Services – 1.8%
Tele2 AB - Class B		119,910		2,530,600
				10,428,311
Information Technology – 6.5%
Semiconductors & Semiconductor Equipment – 4.6%
NXP Semiconductors NV		5,311		1,205,650
Taiwan Semiconductor Manufacturing Co., Ltd.		36,800		2,296,252
Tokyo Electron Ltd.		11,220		3,157,023
				6,658,925

2

Company	Shares		U.S. $ Value
Technology Hardware, Storage & Peripherals – 1.9%
Samsung Electronics Co., Ltd.		17,926	$	2,683,007
				9,341,932
Energy – 5.8%
Energy Equipment & Services – 4.7%
Shell PLC		116,636		4,864,696
Vallourec SACA		78,982		1,847,920
				6,712,616
Oil, Gas & Consumable Fuels – 1.1%
Santos Ltd.(b)		343,980		1,657,694
				8,370,310
Consumer Staples – 5.7%
Beverages – 4.4%
Anheuser-Busch InBev SA/NV(b)		41,310		3,359,131
Coca-Cola Europacific Partners PLC		26,375		2,912,591
				6,271,722
Food Products – 1.3%
Toyo Suisan Kaisha Ltd.		24,400		1,919,359
				8,191,081
Materials – 5.4%
Chemicals – 1.9%
Arkema SA		16,044		1,168,408
Tosoh Corp.(b)		94,400		1,649,746
				2,818,154
Construction Materials – 1.8%
CRH PLC		21,205		2,544,176
Metals & Mining – 1.7%
Anglo American PLC		48,060		2,397,837
				7,760,167
Utilities – 3.5%
Electric Utilities – 3.5%
EDP SA		464,567		2,471,750
Enel SpA		210,530		2,531,612
				5,003,362
Real Estate – 3.0%
Diversified REITs – 1.4%
Merlin Properties Socimi SA		111,914		1,976,240
Real Estate Management & Development – 1.6%
Mitsui Fudosan Co., Ltd.		174,800		2,356,273
				4,332,513
Total Common Stocks (cost $100,979,541)				141,570,482

3

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 1.3%
Investment Companies – 1.3%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%(c) (d) (e) (cost $1,849,112)		1,849,112	$	1,849,112
Total Investments Before Security Lending Collateral for Securities Loaned – 99.4% (cost $102,828,653)				143,419,594
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 2.8%
Investment Companies – 2.8%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%(c) (d) (e) (cost $4,112,336)		4,112,336		4,112,336
Total Investments – 102.2% (cost $106,940,989)(f)				147,531,930
Other assets less liabilities – (2.2)%				(3,214,698	)
Net Assets – 100.0%			$	144,317,232

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America NA		BRL	1,542		USD	299		03/03/2026		$	(1,343	)
Bank of America NA		USD	294		BRL	1,542		03/03/2026			6,344
Bank of America NA		KRW	563,260		USD	390		04/14/2026			(1,553	)
Bank of New York (The)		USD	1,691		SGD	2,135		04/24/2026			2,774
Barclays Capital, Inc.		JPY	97,946		USD	631		04/10/2026			1,952
Barclays Capital, Inc.		USD	1,057		EUR	894		04/16/2026			1,357
Citibank NA		CNH	9,654		USD	1,389		03/26/2026			(20,257	)
Citibank NA		USD	662		JPY	101,372		04/10/2026			(10,603	)
Citibank NA		USD	2,543		SEK	22,622		04/23/2026			(30,617	)
Citibank NA		TWD	65,951		USD	2,090		04/24/2026			(14,935	)
Deutsche Bank AG		EUR	494		USD	585		04/16/2026			66
Goldman Sachs Bank USA		BRL	1,542		USD	300		03/03/2026			(1,023	)
Goldman Sachs Bank USA		USD	299		BRL	1,542		03/03/2026			1,343
Goldman Sachs Bank USA		USD	297		BRL	1,542		04/02/2026			1,230
Goldman Sachs Bank USA		USD	619		JPY	94,554		04/10/2026			(11,287	)
HSBC Bank USA		KRW	4,552,395		USD	3,153		04/14/2026			(11,630	)
JPMorgan Chase Bank		EUR	425		USD	505		04/16/2026			2,251

4

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
JPMorgan Chase Bank		USD	581		EUR	491		04/16/2026		$	779
JPMorgan Chase Bank		USD	1,642		AUD	2,319		04/22/2026			8,212
Morgan Stanley Bank NA		USD	1,329		JPY	203,994		04/10/2026			(18,671	)
Morgan Stanley Bank NA		USD	571		KRW	836,091		04/14/2026			10,238
Morgan Stanley Bank NA		EUR	1,835		USD	2,166		04/16/2026			(6,616	)
Morgan Stanley Capital Services, Inc.		USD	1,283		ILS	4,109		03/12/2026			28,777
Morgan Stanley Capital Services, Inc.		JPY	93,868		USD	613		04/10/2026			10,443
Morgan Stanley Capital Services, Inc.		JPY	80,378		USD	510		04/10/2026			(6,607	)
Morgan Stanley Capital Services, Inc.		EUR	5,888		USD	7,058		04/16/2026			86,455
Morgan Stanley Capital Services, Inc.		USD	7,347		CHF	5,582		04/16/2026			(51,892	)
Morgan Stanley Capital Services, Inc.		USD	5,645		AUD	8,138		04/22/2026			145,430
Morgan Stanley Capital Services, Inc.		USD	1,075		NOK	10,229		04/23/2026			476
Standard Chartered Bank		JPY	107,490		USD	697		04/10/2026			6,332
State Street Bank & Trust Co.		USD	346		MXN	6,024		03/12/2026			3,245
State Street Bank & Trust Co.		USD	258		CNH	1,765		03/26/2026			26
State Street Bank & Trust Co.		JPY	141,475		USD	930		04/10/2026			21,353
State Street Bank & Trust Co.		JPY	291,514		USD	1,864		04/10/2026			(8,443	)
State Street Bank & Trust Co.		USD	740		JPY	115,271		04/10/2026			1,005
State Street Bank & Trust Co.		USD	735		JPY	112,264		04/10/2026			(13,438	)
State Street Bank & Trust Co.		USD	617		KRW	894,837		04/14/2026			4,973
State Street Bank & Trust Co.		EUR	1,383		USD	1,644		04/16/2026			7,047
State Street Bank & Trust Co.		EUR	2,292		USD	2,711		04/16/2026			(2,708	)
State Street Bank & Trust Co.		USD	159		CHF	122		04/16/2026			926
State Street Bank & Trust Co.		USD	1,267		EUR	1,059		04/16/2026			(12,854	)
State Street Bank & Trust Co.		USD	982		AUD	1,393		04/22/2026			8,670
State Street Bank & Trust Co.		USD	369		AUD	517		04/22/2026			(725	)
State Street Bank & Trust Co.		USD	288		NZD	479		04/22/2026			360
State Street Bank & Trust Co.		USD	373		NZD	616		04/22/2026			(2,762	)
State Street Bank & Trust Co.		SEK	1,805		USD	200		04/23/2026			(832	)
State Street Bank & Trust Co.		USD	185		NOK	1,775		04/23/2026			1,590
State Street Bank & Trust Co.		GBP	312		USD	421		04/24/2026			242
State Street Bank & Trust Co.		USD	832		GBP	618		04/24/2026			717
State Street Bank & Trust Co.		USD	302		SGD	380		04/24/2026			(46	)
UBS		USD	728		EUR	618		04/16/2026			3,910
										$	139,681

(a) Non-income producing security.

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

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

5

(d) Affiliated investments.

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

(f) As of February 28, 2026, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $44,494,027 and gross unrealized depreciation of investments was $(3,763,405), resulting in net unrealized appreciation of $40,730,622.

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

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CHF – Swiss Franc

CNH – Chinese Yuan Renminbi (Offshore)

EUR – Euro

GBP – Great British Pound

ILS – Israeli Shekel

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

NOK – Norwegian Krone

NZD – New Zealand Dollar

SEK – Swedish Krona

SGD – Singapore Dollar

TWD – New Taiwan Dollar

USD – United States Dollar

Glossary:

ADR – American Depositary Receipt

REG – Registered Shares

REIT – Real Estate Investment Trust

6

COUNTRY BREAKDOWN¹

February, 2026 (unaudited)

24.0	%	Japan
13.7	%	United Kingdom
11.7	%	France
6.8	%	United States
4.9	%	Italy
4.3	%	Netherlands
3.8	%	Switzerland
3.5	%	Spain
3.2	%	Hong Kong
3.2	%	Denmark
3.0	%	Germany
2.3	%	Belgium
1.9	%	South Korea
12.4	%	Other
1.3	%	Short-Term Investments
100.0	%	Total Investments

¹  The Fund’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 1.8% or less in the following: Australia, Austria, China, Czech Republic, Greece, Portugal, South Africa, Sweden and Taiwan.

7

AB International Value Fund 

February 28, 2026 (unaudited)

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

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

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

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

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.

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.

8

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of February 28, 2026:

Investments in Securities:	Level 1		Level 2			Level 3		Total
Assets:
Common Stocks:
Industrials	$	4,822,643	$	22,911,401		$	—	$	27,734,044
Financials		—		27,593,223			—		27,593,223
Consumer Discretionary		1,817,246		15,638,758			—		17,456,004
Health Care		1,277,782		14,081,753			—		15,359,535
Communication Services		1,322,832		9,105,479			—		10,428,311
Information Technology		1,205,650		8,136,282			—		9,341,932
Energy		—		8,370,310			—		8,370,310
Consumer Staples		2,912,591		5,278,490			—		8,191,081
Materials		2,544,176		5,215,991			—		7,760,167
Utilities		—		5,003,362			—		5,003,362
Real Estate		—		4,332,513			—		4,332,513
Short-Term Investments		1,849,112		—			—		1,849,112
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		4,112,336		—			—		4,112,336
Total Investments in Securities		21,864,368		125,667,562	(a)		—		147,531,930
Other Financial Instruments(b):
Assets:
Forward Currency Exchange Contracts		—		368,523			—		368,523
Liabilities:
Forward Currency Exchange Contracts		—		(228,842	)		—		(228,842	)
Total	$	21,864,368	$	125,807,243		$	—	$	147,671,611

^(a)  A significant portion of the Portfolio’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available.

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

A summary of the Fund’s transactions in AB mutual funds for the three months ended February 28, 2026 is as follows:

Fund	Market Value 11/30/2025 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 02/28/2026 (000)		Dividend Income (000)
AB Government Money Market Portfolio	$	5,002	$	8,653	$	11,806	$	1,849	$	37
AB Government Money Market Portfolio*		472		12,365		8,725		4,112		38
Total	$	5,474	$	21,018	$	20,531	$	5,961	$	75

* Investments of cash collateral for securities lending transactions.

9