N-Q 1 d622995dnq.htm ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH FUND, INC. AllianceBernstein Global Thematic Growth Fund, Inc.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-03131

ALLIANCEBERNSTEIN GLOBAL THEMATIC GROWTH FUND, INC.

(Exact name of registrant as specified in charter)

1345 Avenue of the Americas, New York, New York 10105

(Address of principal executive offices) (Zip code)

Joseph J Mantineo

AllianceBernstein L.P.

1345 Avenue of the Americas

New York, New York 10105

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: July 31, 2014

Date of reporting period: October 31, 2013

 

 

 


ITEM 1. SCHEDULE OF INVESTMENTS.


AllianceBernstein Global Thematic Growth Fund

Portfolio of Investments

October 31, 2013 (unaudited)

 

Company

   Shares        U.S. $ Value  

COMMON STOCKS - 97.8%

       

Information Technology - 27.0%

       

Computers & Peripherals - 4.2%

       

Apple, Inc.

     26,550         $ 13,868,393   

Silicon Graphics International Corp. (a)

     801,406           10,233,955   

Stratasys Ltd. (a)

     72,440           8,202,381   
       

 

 

 
          32,304,729   
       

 

 

 

Electronic Equipment, Instruments & Components - 0.6%

       

InvenSense, Inc. (a)(b)

     283,970           4,796,253   
       

 

 

 

Internet Software & Services - 9.3%

       

Cornerstone OnDemand, Inc. (a)

     212,463           10,064,372   

eBay, Inc. (a)

     131,750           6,944,543   

Google, Inc. - Class A (a)

     10,198           10,509,855   

LinkedIn Corp. - Class A (a)

     40,984           9,166,891   

Tencent Holdings Ltd.

     297,800           16,246,830   

Yandex NV - Class A (a)

     198,490           7,316,341   

Yelp, Inc. (a)

     174,217           11,803,202   
       

 

 

 
          72,052,034   
       

 

 

 

IT Services - 2.4%

       

QIWI PLC (Sponsored ADR)

     175,628           7,109,421   

Visa, Inc. - Class A

     57,140           11,237,724   
       

 

 

 
          18,347,145   
       

 

 

 

Semiconductors & Semiconductor Equipment - 4.6%

       

Avago Technologies Ltd.

     95,490           4,338,111   

MediaTek, Inc.

     488,000           6,671,900   

Mellanox Technologies Ltd. (a)(b)

     172,431           6,255,797   

NVIDIA Corp.

     486,032           7,377,966   

NXP Semiconductor NV (a)

     265,180           11,169,381   
       

 

 

 
          35,813,155   
       

 

 

 

Software - 5.9%

       

NetSuite, Inc. (a)

     84,858           8,560,475   

Red Hat, Inc. (a)

     226,883           9,817,227   

Salesforce.com, Inc. (a)

     194,680           10,388,125   

ServiceNow, Inc. (a)

     126,690           6,918,541   

Splunk, Inc. (a)

     165,077           10,351,979   
       

 

 

 
          46,036,347   
       

 

 

 
          209,349,663   
       

 

 

 

Consumer Discretionary - 19.9%

       

Automobiles - 2.5%

       

Harley-Davidson, Inc.

     162,200           10,387,288   

Nissan Motor Co., Ltd.

     679,200           6,820,022   

Tesla Motors, Inc. (a)(b)

     11,611           1,857,063   
       

 

 

 
          19,064,373   
       

 

 

 

Diversified Consumer Services - 1.0%

       

Kroton Educacional SA

     511,800           7,562,084   
       

 

 

 


Company

   Shares        U.S. $ Value  

Hotels, Restaurants & Leisure - 2.6%

       

Melco Crown Entertainment Ltd. (ADR) (a)

     359,410         $ 11,918,035   

Yum! Brands, Inc.

     118,890           8,039,342   
       

 

 

 
          19,957,377   
       

 

 

 

Internet & Catalog Retail - 5.9%

       

Amazon.com, Inc. (a)

     63,132           22,981,942   

Ctrip.com International Ltd. (ADR) (a)

     216,000           11,718,000   

priceline.com, Inc. (a)

     10,590           11,160,060   
       

 

 

 
          45,860,002   
       

 

 

 

Media - 0.9%

       

Walt Disney Co. (The)

     107,850           7,397,432   
       

 

 

 

Multiline Retail - 1.6%

       

Lojas Renner SA

     219,700           6,625,897   

Matahari Department Store Tbk PT (a)

     5,603,500           6,109,813   
       

 

 

 
          12,735,710   
       

 

 

 

Specialty Retail - 0.8%

       

Belle International Holdings Ltd.

     4,345,000           6,092,946   
       

 

 

 

Textiles, Apparel & Luxury Goods - 4.6%

       

Cie Financiere Richemont SA

     155,180           15,867,105   

NIKE, Inc. - Class B

     167,120           12,661,011   

Samsonite International SA

     2,712,300           7,396,449   
       

 

 

 
          35,924,565   
       

 

 

 
          154,594,489   
       

 

 

 

Health Care - 13.1%

       

Biotechnology - 2.3%

       

Cepheid, Inc. (a)

     243,682           9,922,731   

Quintiles Transnational Holdings, Inc. (a)

     195,307           8,200,941   
       

 

 

 
          18,123,672   
       

 

 

 

Health Care Equipment & Supplies - 3.0%

       

Elekta AB - Class B

     449,680           6,641,388   

Essilor International SA

     95,340           10,217,144   

Intuitive Surgical, Inc. (a)

     17,786           6,607,499   
       

 

 

 
          23,466,031   
       

 

 

 

Health Care Providers & Services - 0.7%

       

Odontoprev SA

     1,241,700           5,132,641   
       

 

 

 

Life Sciences Tools & Services - 2.8%

       

Illumina, Inc. (a)

     232,030           21,697,125   
       

 

 

 

Pharmaceuticals - 4.3%

       

Bristol-Myers Squibb Co.

     221,040           11,609,021   

Roche Holding AG

     49,640           13,727,217   

Sun Pharmaceutical Industries Ltd.

     804,590           7,946,722   
       

 

 

 
          33,282,960   
       

 

 

 
          101,702,429   
       

 

 

 


Company

   Shares        U.S. $ Value  

Consumer Staples - 11.5%

       

Beverages - 4.0%

       

Anheuser-Busch InBev NV

     111,080         $ 11,514,954   

Diageo PLC

     345,420           11,011,107   

Pernod Ricard SA (b)

     70,030           8,411,201   
       

 

 

 
          30,937,262   
       

 

 

 

Food & Staples Retailing - 0.6%

       

Raia Drogasil SA

     651,000           4,751,944   
       

 

 

 

Food Products - 4.8%

       

Danone

     139,070           10,300,102   

Mead Johnson Nutrition Co. - Class A

     127,040           10,374,086   

Nestle SA

     130,280           9,404,120   

Universal Robina Corp.

     2,347,300           6,928,367   
       

 

 

 
          37,006,675   
       

 

 

 

Personal Products - 1.2%

       

Estee Lauder Cos., Inc. (The) - Class A

     128,380           9,109,845   
       

 

 

 

Tobacco - 0.9%

       

British American Tobacco PLC

     127,400           7,028,943   
       

 

 

 
          88,834,669   
       

 

 

 

Energy - 10.1%

       

Energy Equipment & Services - 5.8%

       

National Oilwell Varco, Inc.

     119,590           9,708,316   

Oceaneering International, Inc.

     143,070           12,286,852   

Schlumberger Ltd.

     160,740           15,064,553   

Technip SA

     78,040           8,173,802   
       

 

 

 
          45,233,523   
       

 

 

 

Oil, Gas & Consumable Fuels - 4.3%

       

BG Group PLC

     556,910           11,360,777   

Concho Resources, Inc. (a)

     97,870           10,825,401   

Noble Energy, Inc.

     149,010           11,165,319   
       

 

 

 
          33,351,497   
       

 

 

 
          78,585,020   
       

 

 

 

Financials - 9.9%

       

Capital Markets - 1.2%

       

UBS AG (a)(b)

     481,530           9,322,421   
       

 

 

 

Commercial Banks - 2.1%

       

BOC Hong Kong Holdings Ltd.

     3,258,500           10,599,637   

Grupo Financiero Banorte SAB de CV - Class O

     938,660           6,008,690   
       

 

 

 
          16,608,327   
       

 

 

 

Diversified Financial Services - 1.3%

       

IntercontinentalExchange, Inc. (a)

     53,760           10,361,165   
       

 

 

 

Insurance - 1.9%

       

AIA Group Ltd.

     2,870,000           14,573,371   
       

 

 

 

Real Estate Management & Development - 2.3%

       

BR Malls Participacoes SA

     614,500           5,936,032   

Global Logistic Properties Ltd.

     4,782,000           11,870,374   
       

 

 

 
          17,806,406   
       

 

 

 


Company

   Shares        U.S. $ Value  

Thrifts & Mortgage Finance - 1.1%

       

Housing Development Finance Corp.

     601,610         $ 8,378,618   
       

 

 

 
          77,050,308   
       

 

 

 

Industrials - 3.2%

       

Electrical Equipment - 1.1%

       

Babcock & Wilcox Co. (The)

     261,895           8,435,638   
       

 

 

 

Machinery - 2.1%

       

FANUC Corp.

     35,200           5,646,349   

Proto Labs, Inc. (a)(b)

     123,670           10,370,966   
       

 

 

 
          16,017,315   
       

 

 

 
          24,452,953   
       

 

 

 

Telecommunication Services - 1.8%

       

Wireless Telecommunication Services - 1.8%

       

Softbank Corp.

     146,200           10,918,049   

Tower Bersama Infrastructure Tbk PT

     6,468,500           3,268,804   
       

 

 

 
          14,186,853   
       

 

 

 

Materials - 1.3%

       

Chemicals - 1.3%

       

Monsanto Co.

     92,871           9,740,311   
       

 

 

 

Total Common Stocks
(cost $619,815,486)

          758,496,695   
       

 

 

 

SHORT-TERM INVESTMENTS - 2.5%

       

Investment Companies - 2.5%

       

AllianceBerstein Fixed-Income Shares Inc. - Government STIF Portfolio, 0.08% (c)
(cost $19,602,609)

     19,602,609           19,602,609   
       

 

 

 

Total Investments Before Security Lending Collateral for Securities Loaned - 100.3%
(cost $639,418,095)

          778,099,304   
       

 

 

 

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 1.3%

       

Investment Companies - 1.3%

       

AllianceBernstein Exchange Reserves - Class I, 0.07% (c)
(cost $10,095,759)

     10,095,759           10,095,759   
       

 

 

 

Total Investments - 101.6%
(cost $649,513,854) (d)

          788,195,063   

Other assets less liabilities - (1.6)%

          (12,667,036
       

 

 

 

Net Assets - 100.0%

        $ 775,528,027   
       

 

 

 


FORWARD CURRENCY EXCHANGE CONTRACTS

 

Counterparty

   Contracts to
Deliver
(000)
     In Exchange
For
(000)
     Settlement
Date
     Unrealized
Appreciation/
(Depreciation)
 

Bank of America, NA:

   USD      6,797       EUR      5,136         12/17/13       $ 177,331   

Barclays Bank PLC Wholesale:

   JPY      3,282,479       USD      33,720         12/17/13         329,103   

Barclays Bank PLC Wholesale:

   USD      21,419       EUR      16,155         12/17/13         516,801   

BNP Paribas SA:

   USD      7,339       AUD      7,896         12/17/13         102,423   

Citibank, NA:

   HKD      249,232       USD      32,145         12/17/13         (5,467

Citibank, NA:

   USD      15,042       CHF      13,433         12/17/13         (232,471

Credit Suisse International:

   USD      2,229       SEK      14,115         12/17/13         (52,690

Deutsche Bank AG London:

   USD      8,409       AUD      8,940         12/17/13         16,991   

Deutsche Bank AG London:

   USD      3,801       GBP      2,352         12/17/13         (31,514

Goldman Sachs Capital Markets LP:

   GBP      1,730       USD      2,792         12/17/13         18,526   

Goldman Sachs Capital Markets LP:

   USD      22,140       JPY      2,222,812         12/17/13         471,884   

Goldman Sachs Capital Markets LP:

   USD      3,873       JPY      380,392         12/17/13         (3,929

HSBC Bank USA:

   GBP      8,393       USD      13,372         12/17/13         (81,341

HSBC Bank USA:

   HKD      43,897       USD      5,662         12/17/13         (903

HSBC Bank USA:

   USD      5,783       HKD      44,836         12/17/13         296   

JPMorgan Chase Bank, NA:

   USD      22,088       GBP      14,262         12/17/13         771,839   

JPMorgan Chase Bank, NA:

   USD      13,247       JPY      1,303,223         12/17/13         9,659   

Royal Bank of Scotland PLC:

   USD      10,024       GBP      6,391         12/17/13         220,116   

Standard Chartered Bank:

   HKD      32,422       USD      4,181         12/17/13         (866

Standard Chartered Bank:

   USD      8,055       AUD      8,425         12/17/13         (114,138

State Street Bank & Trust Co.:

   CHF      20,109       USD      21,530         12/17/13         (640,240

State Street Bank & Trust Co.:

   USD      7,340       CHF      6,676         12/17/13         20,613   

State Street Bank & Trust Co.:

   USD      7,330       EUR      5,418         12/17/13         26,389   

State Street Bank & Trust Co.:

   USD      3,089       EUR      2,238         12/17/13         (49,636

State Street Bank & Trust Co.:

   USD      2,310       NOK      14,122         12/17/13         58,357   
                 

 

 

 
                  $     1,527,133   
                 

 

 

 

 

(a) Non-income producing security.
(b) Represents entire or partial securities out on loan.
(c) Investment in affiliated money market mutual fund. The rate shown represents the 7-day yield as of period end.
(d) As of October 31, 2013, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $154,218,942 and gross unrealized depreciation of investments was $(15,537,733), resulting in net unrealized appreciation of $138,681,209.

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
CHF    -    Swiss Franc
EUR    -    Euro
GBP    -    Great British Pound
HKD    -    Hong Kong Dollar
JPY    -    Japanese Yen
NOK    -    Norwegian Krone
SEK    -    Swedish Krona
USD    -    United States Dollar

Glossary:

 

ADR    -    American Depositary Receipt

COUNTRY BREAKDOWN *

October 31, 2013 (unaudited)

 

  52.0%        

United States

  6.5%        

Hong Kong

  6.2%        

Switzerland

  4.8%        

France

  3.9%        

Brazil

  3.8%        

United Kingdom

  3.6%        

China

  3.0%        

Japan

  2.1%        

India

  1.8%        

Russia

  1.5%        

Singapore

  1.5%        

Belgium

  1.4%        

Netherlands

  5.4%        

Other

  2.5%        

Short-Term

 

 

      
  100.0%        

Total Investments

 

 

      

 

* All data are as of October 31, 2013. The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 1.2% or less in the following countries: Indonesia, Israel, Mexico, Philippines, Sweden and Taiwan.


AllianceBernstein Global Thematic Growth Fund

October 31, 2013 (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)

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

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of October 31, 2013:

 

Investments in Securities:

   Level 1     Level 2     Level 3     Total  

Assets:

        

Common Stocks:

        

Information Technology

   $ 186,430,933      $ 22,918,730      $ – 0  –    $ 209,349,663   

Consumer Discretionary

     105,682,257        48,912,232        – 0  –      154,594,489   

Health Care

     63,169,958        38,532,471        – 0  –      101,702,429   

Consumer Staples

     19,483,931        69,350,738        – 0  –      88,834,669   

Energy

     59,050,441        19,534,579        – 0  –      78,585,020   

Financials

     25,692,276        51,358,032        – 0  –      77,050,308   

Industrials

     18,806,604        5,646,349        – 0  –      24,452,953   

Telecommunication Services

     – 0  –      14,186,853        – 0  –      14,186,853   

Materials

     9,740,311        – 0  –      – 0  –      9,740,311   

Short-Term Investments

     19,602,609        – 0  –      – 0  –      19,602,609   
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund      10,095,759        – 0  –      – 0  –      10,095,759   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Investments in Securities

     517,755,079            270,439,984+        – 0  –      788,195,063   

Other Financial Instruments* :

        

Assets:

        

Forward Currency Exchange Contracts

     – 0  –      2,740,328        – 0  –      2,740,328   

Liabilities:

        

Forward Currency Exchange Contracts

     – 0  –      (1,213,195     – 0  –      (1,213,195
  

 

 

   

 

 

   

 

 

   

 

 

 

Total^

   $     517,755,079      $ 271,967,117      $             – 0  –    $     789,722,196   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

* Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/depreciation on the instrument.
+ A significant portion of the Fund’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.
^ An amount of $11,437,654 was transferred from Level 1 to Level 2 due to insufficient observable inputs during the reporting period.

The Fund recognizes all transfers between levels of the fair value hierarchy assuming the financial instruments were transferred at the beginning of the reporting period.


The Adviser has established a Valuation Committee (the “Committee”) which is responsible for overseeing the pricing and valuation of all securities held in the Fund. The Committee operates under pricing and valuation policies and procedures established by the Adviser and approved by the Board, including pricing policies which set forth the mechanisms and processes to be employed on a daily basis to implement these policies and procedures. In particular, the pricing policies describe how to determine market quotations for securities and other instruments. The Committee’s responsibilities include: 1) fair value and liquidity determinations (and oversight of any third parties to whom any responsibility for fair value and liquidity determinations is delegated), and 2) regular monitoring of the Adviser’s pricing and valuation policies and procedures and modification or enhancement of these policies and procedures (or recommendation of the modification of these policies and procedures) as the Committee believes appropriate.

The Committee is also responsible for monitoring the implementation of the pricing policies by the Adviser’s Pricing Group (the “Pricing Group”) and a third party which performs certain pricing functions in accordance with the pricing policies. The Pricing Group is responsible for the oversight of the third party on a day-to-day basis. The Committee and the Pricing Group perform a series of activities to provide reasonable assurance of the accuracy of prices including: 1) periodic vendor due diligence meetings, review of methodologies, new developments and process at vendors, 2) daily compare of security valuation versus prior day for all securities that exceeded established thresholds, and 3) daily review of unpriced, stale, and variance reports with exceptions reviewed by senior management and the Committee.

In addition, several processes outside of the pricing process are used to monitor valuation issues including: 1) performance and performance attribution reports are monitored for anomalous impacts based upon benchmark performance, and 2) portfolio managers review all portfolios for performance and analytics (which are generated using the Adviser’s prices).


ITEM 2. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no significant changes in the registrant’s internal control over financial reporting that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

 

ITEM 3. EXHIBITS.

The following exhibits are attached to this Form N-Q:

 

EXHIBIT NO.

 

DESCRIPTION OF EXHIBIT

11 (a) (1)   Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
11 (a) (2)   Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant): AllianceBernstein Global Thematic Growth Fund, Inc.

By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   December 23, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:   /s/    Robert M. Keith
  Robert M. Keith
  President
Date:   December 23, 2013
By:   /s/    Joseph J. Mantineo
  Joseph J. Mantineo
  Treasurer and Chief Financial Officer
Date:   December 23, 2013