N-CSR/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-02383

AB BOND 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: September 30, 2022

Date of reporting period: September 30, 2022

Explanatory Note:

Enclosed for filing you will find an amended Form N-CSR of the registrant’s original 2022 Form N-CSR filing of the referenced period. The purpose of this amended filing is to update Item 11 (b) and Item 13 (which is addressed in exhibits labeled Exhibit 12 (b)(1) and Exhibit 12 (b)(2) in the original filings). Except as set forth above, no other changes have been made to the Form N-CSR, and this amended filing does not amend, update or change any other items or disclosure found in the Form N-CSR.

ITEM 1. REPORTS TO STOCKHOLDERS.

SEP    ^09.30.22

ANNUAL REPORT

AB LIMITED DURATION HIGH INCOME PORTFOLIO

Investment Products Offered •  Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.abfunds.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

This shareholder report must be preceded or accompanied by the Fund’s prospectus for individuals who are not current shareholders of the Fund.

You may obtain a description of the Fund’s proxy voting policies and procedures, and information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge. Simply visit AB’s website at www.abfunds.com, or go to the Securities and Exchange Commission’s (the “Commission”) website at www.sec.gov, or call AB at (800) 227 4618.

The Fund files its complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Fund’s Form N-PORT reports are available on the Commission’s website at www.sec.gov. AB publishes full portfolio holdings for the Fund monthly at www.abfunds.com.

AllianceBernstein Investments, Inc. (ABI) is the distributor of the AB family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the Adviser of the funds.

The [A/B] logo is a registered service mark of AllianceBernstein and AllianceBernstein^® is a registered service mark used by permission of the owner, AllianceBernstein L.P.

FROM THE PRESIDENT

Dear Shareholder,

We’re pleased to provide this report for the AB Limited Duration High Income Portfolio (the “Fund”). Please review the discussion of Fund performance, the market conditions during the reporting period and the Fund’s investment strategy.

At AB, we’re striving to help our clients achieve better outcomes by:

⁺  Fostering diverse perspectives that give us a distinctive approach to navigating global capital markets

⁺  Applying differentiated investment insights through a connected global research network

⁺  Embracing innovation to design better ways to invest and leading-edge mutual-fund solutions

Whether you’re an individual investor or a multibillion-dollar institution, we’re putting our knowledge and experience to work for you every day.

For more information about AB’s comprehensive range of products and shareholder resources, please log on to www.abfunds.com.

Thank you for your investment in AB mutual funds—and for placing your trust in our firm.

Sincerely,

Onur Erzan

President and Chief Executive Officer, AB Mutual Funds

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    1

ANNUAL REPORT

November 11, 2022

This report provides management’s discussion of fund performance for the AB Limited Duration High Income Portfolio for the annual reporting period ended September 30, 2022.

The Fund’s investment objective is to seek the highest level of income that is available without assuming what the Adviser considers to be undue risk to principal.

NAV RETURNS AS OF SEPTEMBER 30, 2022 (unaudited)

	6 Months		12 Months
AB LIMITED DURATION HIGH INCOME PORTFOLIO
Class A Shares		-8.52%		-11.98%
Class C Shares		-8.88%		-12.66%
Advisor Class Shares1		-8.43%		-11.78%
Bloomberg Global High Yield 1-5 Year Index (USD hedged)		-7.79%		-12.17%

1 Please note that this share class is for investors purchasing shares through accounts established under certain fee-based programs sponsored and maintained by certain broker-dealers and financial intermediaries, institutional pension plans and/or investment advisory clients of, and certain other persons associated with, the Adviser and its affiliates or the Fund.

INVESTMENT RESULTS

The table above shows the Fund’s performance compared to its benchmark, the Bloomberg Global High Yield 1-5 Year Index (USD hedged), for the six- and 12-month periods ended September 30, 2022.

During the 12-month period, all share classes except Class C outperformed the benchmark, before sales charges. Industry allocation was the primary contributor, relative to the benchmark, mostly from an underweight to real estate investment trusts (“REITs”), exposure to collateralized loan obligations and US Treasuries, and underweights to banking and sovereigns that were partially offset by exposure to commercial mortgage-backed securities. Security selection also contributed, from selection in REITs, basic industry, media, telecommunications and finance–other that were partially offset by losses within services, sovereigns and consumer cyclical–other. Yield-curve positioning in the US detracted, mostly from underweights to the six-month and two-year parts of the curve and overweights to the 10- to 30-year parts of the curve. An underweight to the eurozone also detracted at the country level.

During the six-month period, all share classes underperformed the benchmark, before sales charges. Yield-curve positioning in the US was the

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largest detractor, from overweights to the five- to 10-year parts of the curve that were partially offset by gains from an underweight to the two-year part of the curve. Security selection also hampered results, mainly as selection within sovereigns, technology, services and consumer cyclical–other outweighed gains from selection within REITs, media, entertainment and retailers. Industry allocation contributed, mostly from exposure to credit risk-transfer securities and US Treasuries, and an underweight to REITs that added more than offset losses from an overweight to banking and an underweight to energy. At the country level, an underweight to the UK and an overweight to the US contributed.

During both periods, the Fund utilized treasury futures to manage and hedge duration risk and/or to take active yield-curve positioning. Currency forwards were used to hedge foreign currency exposure. Credit default swaps were used to effectively obtain high-yield credit/sector exposure.

MARKET REVIEW AND INVESTMENT STRATEGY

During the 12-month period ended September 30, 2022, fixed-income government bond market yields increased rapidly, and bond prices fell in all developed markets. Most major central banks aggressively tightened monetary policy by raising short-term interest rates and ending bond purchases to combat high and persistent inflation. Developed-market government bonds fell the most in the UK and eurozone, and by the least in Japan. In credit risk sectors, securitized assets generally outperformed corporate bonds. Investment-grade corporate bonds trailed treasuries, underperforming in the US against US Treasuries, while outperforming in the eurozone relative to eurozone treasuries. High-yield corporate bonds trailed in the US versus US Treasuries while eurozone high yield outperformed eurozone treasuries. Investment-grade emerging-market corporate bonds slightly trailed developed-market corporates. Longer-maturity emerging-market sovereign bonds underperformed developed-market treasuries. Emerging-market local-currency bonds lagged as the US dollar advanced against almost all developed- and emerging-market currencies. Brent crude oil prices ended the period higher, even as prices fell sharply in the final quarter on global growth concerns and reduced demand.

The Fund’s Senior Investment Management Team (the “Team”) continues to utilize its high-quality strategy, which seeks attractive returns with less volatility than traditional high-yield approaches. The Team seeks to manage interest-rate risk by maintaining an average duration of less than four years. The Fund’s primary investments are high-yield corporate fixed-income securities from developed and emerging markets, particularly lower-rated, investment-grade and unrated-debt securities.

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INVESTMENT POLICIES

The Fund invests primarily in fixed-income securities, with an emphasis on corporate fixed-income securities rated below investment-grade (commonly known as “junk bonds”), unrated securities considered by the Adviser to be of comparable quality, and related derivatives. Under normal circumstances, the Fund will maintain a dollar-weighted average duration of less than four years, although it may invest in individual fixed-income securities with durations in excess of four years.

The Fund may also invest in investment-grade fixed-income securities, high-yield securities of governments and government-related issuers, loan participations and assignments and, to a lesser extent, equity securities and derivatives related to these instruments. The Fund will not invest more than 10% of its net assets in securities rated at or below Caa1 by Moody’s Investors Service, CCC+ by S&P Global Ratings or CCC by Fitch Ratings or the equivalent by any nationally recognized statistical rating organization (“NRSRO”), at the time of purchase. (For the purpose of this 10% limit, the Fund will rely on the highest rating from any NRSRO, and the notional amount of derivatives related to these instruments will be counted.)

The Fund invests on a global basis, including securities of issuers in both developed- and emerging-market countries. The Fund may invest in securities denominated in foreign currencies, although it expects to use hedging instruments frequently to attempt to limit the currency exposure resulting from such investments.

The Fund expects to use derivatives, such as options, futures contracts, forwards and swaps, to a significant extent, subject to the limits of applicable law. Derivatives may provide more efficient and economical exposure to market segments than direct investments, and may also be a quicker and more efficient way to alter the Fund’s exposure. For example, the Fund may use credit default and interest rate swaps to gain exposure to the fixed-income markets. In determining when and to what extent to enter into derivative transactions, the Adviser considers factors such as the risks and returns of these investments relative to direct investments and the costs of such transactions. Derivatives such as options and forwards may also be used for hedging purposes, including to hedge against interest-rate, credit market and currency fluctuations.

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DISCLOSURES AND RISKS

Benchmark Disclosure

The Bloomberg Global High Yield 1-5 Year Index (USD hedged) is unmanaged and does not reflect fees and expenses associated with the active management of a mutual fund portfolio. The Bloomberg Global High Yield 1-5 Year Index represents the performance of non-investment grade fixed-income securities in the US, developed and emerging markets with more than one year and less than five years remaining until maturity, hedged to the US dollar. An investor cannot invest directly in an index, and its results are not indicative of the performance for any specific investment, including the Fund.

A Word About Risk

Market Risk: The value of the Fund’s assets will fluctuate as the stock, bond, currency and commodity markets fluctuate. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events, including public health crises (including the occurrence of a contagious disease or illness) and regional and global conflicts, that affect large portions of the market.

Interest-Rate Risk: Changes in interest rates will affect the value of investments in fixed-income securities. When interest rates rise, the value of existing investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest-rate risk is generally greater for fixed-income securities with longer maturities or durations. The Fund may be subject to greater risk of rising interest rates than would normally be the case due to the end of a recent period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market reaction to those initiatives.

Credit Risk: An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer, guarantor or counterparty may default, causing a loss of the full principal amount of a security and accrued interest. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.

Below Investment-Grade Securities Risk: Investments in fixed-income securities with lower ratings (commonly known as “junk bonds”) are subject to a higher probability that an issuer will default or fail to meet its payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate developments and negative perceptions of the junk bond market generally and may be more difficult to trade than other types of securities.

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DISCLOSURES AND RISKS (continued)

Duration Risk: Duration is a measure that relates the expected price volatility of a fixed-income security to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest rates rise.

Inflation Risk: This is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions. This risk is significantly greater for fixed-income securities with longer maturities.

Derivatives Risk: Derivatives may be difficult to price and leveraged so that small changes may produce disproportionate losses for the Fund. Derivatives, especially over-the-counter derivatives, are also subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable or unwilling to honor its contractual obligations to the Fund.

Foreign (Non-US) Risk: Investments in securities of non-US issuers may involve more risk than those of US issuers. These securities may fluctuate more widely in price and may be more difficult to trade due to adverse market, economic, political, regulatory or other factors.

Emerging-Market Risk: Investments in emerging-market countries may have more risk because the markets are less developed and less liquid and are subject to increased economic, political, regulatory and other uncertainties.

Currency Risk: Fluctuations in currency exchange rates may negatively affect the value of the Fund’s investments or reduce its returns.

Loan Participations and Assignments Risk: When the Fund purchases loan participations and assignments, it is subject to the credit risk associated with the underlying corporate borrower. In addition, the lack of a liquid secondary market for loan participations and assignments may have an adverse impact on the value of such investments and the Fund’s ability to dispose of particular assignments or participations when necessary to meet the Fund’s liquidity needs or in response to a specific economic event such as a deterioration in the creditworthiness of the borrower.

Illiquid Investments Risk: Illiquid investments risk exists when certain investments become difficult to purchase or sell. Difficulty in selling such investments may result in sales at disadvantageous prices affecting the value of your investment in the Fund. Causes of illiquid investments risk may include low trading volumes, large positions and heavy redemptions

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DISCLOSURES AND RISKS (continued)

of Fund shares. Illiquid investments risk may be higher in a rising interest-rate environment, when the value and liquidity of fixed-income securities generally decline.

Management Risk: The Fund is subject to management risk because it is an actively managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results. Some of these techniques may incorporate, or rely upon, quantitative models, but there is no guarantee that these models will generate accurate forecasts, reduce risk or otherwise perform as expected.

These risks are fully discussed in the Fund’s prospectus. As with all investments, you may lose money by investing in the Fund.

An Important Note About Historical Performance

The investment return and principal value of an investment in the Fund will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Performance shown in this report represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. You may obtain performance information current to the most recent month-end by visiting www.abfunds.com.

All fees and expenses related to the operation of the Fund have been deducted. Net asset value (“NAV”) returns do not reflect sales charges; if sales charges were reflected, the Fund’s quoted performance would be lower. SEC returns reflect the applicable sales charges for each share class: a 4.25% maximum front-end sales charge for Class A shares and a 1% 1-year contingent deferred sales charge for Class C shares. Returns for the different share classes will vary due to different expenses associated with each class. Performance assumes reinvestment of distributions and does not account for taxes.

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HISTORICAL PERFORMANCE

GROWTH OF A $10,000 INVESTMENT IN THE FUND (unaudited)

9/30/2012 TO 9/30/2022

This chart illustrates the total value of an assumed $10,000 investment in AB Limited Duration High Income Portfolio Class A shares (from 9/30/2012 to 9/30/2022) as compared to the performance of its benchmark. The chart reflects the deduction of the maximum 4.25% sales charge from the initial $10,000 investment in the Fund and assumes the reinvestment of dividends and capital gains distributions.

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HISTORICAL PERFORMANCE (continued)

AVERAGE ANNUAL RETURNS AS OF SEPTEMBER 30, 2022 (unaudited)

	NAV Returns		SEC Returns (reflects applicable sales charges)		SEC Yields1
CLASS A SHARES						6.35%
1 Year		-11.98%		-15.72%
5 Years		0.66%		-0.21%
10 Years		2.34%		1.89%
CLASS C SHARES						5.82%
1 Year		-12.66%		-13.51%
5 Years		-0.12%		-0.12%
10 Years2		1.58%		1.58%
ADVISOR CLASS SHARES3						6.87%
1 Year		-11.78%		-11.78%
5 Years		0.89%		0.89%
10 Years		2.60%		2.60%

The Fund’s current prospectus fee table shows the Fund’s total annual operating expense ratios as 1.02%, 1.77% and 0.77% for Class A, Class C and Advisor Class shares, respectively, gross of any fee waivers or expense reimbursements. Contractual fee waivers and/or expense reimbursements limited the Fund’s total annual operating expense ratios, exclusive of expenses associated with acquired fund fees and expenses of any AB mutual funds in which the Fund may invest, interest expense, taxes, extraordinary expenses, and brokerage commissions and other transaction costs, to 0.95%, 1.70% and 0.70% for Class A, Class C and Advisor Class shares, respectively. These waivers/reimbursements may not be terminated before January 31, 2023. Absent reimbursements or waivers, performance would have been lower. The Financial Highlights section of this report sets forth expense ratio data for the current reporting period; the expense ratios shown above may differ from the expense ratios in the Financial Highlights section since they are based on different time periods.

1 SEC yields are calculated based on SEC guidelines for the 30-day period ended September 30, 2022.

2 Assumes conversion of Class C shares into Class A shares after eight years.

3 This share class is offered at NAV to eligible investors and the SEC returns are the same as the NAV returns. Please note that this share class is for investors purchasing shares through accounts established under certain fee-based programs sponsored and maintained by certain broker-dealers and financial intermediaries, institutional pension plans and/or investment advisory clients of, and certain other persons associated with, the Adviser and its affiliates or the Fund.

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HISTORICAL PERFORMANCE (continued)

SEC AVERAGE ANNUAL RETURNS

AS OF THE MOST RECENT CALENDAR QUARTER-END

SEPTEMBER 30, 2022 (unaudited)

	SEC Returns (reflects applicable sales charges)
CLASS A SHARES
1 Year		-15.72%
5 Years		-0.21%
10 Years		1.89%
CLASS C SHARES
1 Year		-13.51%
5 Years		-0.12%
10 Years1		1.58%
ADVISOR CLASS SHARES2
1 Year		-11.78%
5 Years		0.89%
10 Years		2.60%

1 Assumes conversion of Class C shares into Class A shares after eight years.

2 Please note that this share class is for investors purchasing shares through accounts established under certain fee-based programs sponsored and maintained by certain broker-dealers and financial intermediaries, institutional pension plans and/or investment advisory clients of, and certain other persons associated with, the Adviser and its affiliates or the Fund.

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EXPENSE EXAMPLE

(unaudited)

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchase payments, contingent deferred sales charges on redemptions and (2) ongoing costs, including management fees; distribution (12b-1) fees; and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period as indicated below.

Actual Expenses

The table below provides information about actual account values and actual expenses. You may use the information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The table below also provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed annual rate of return of 5% before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds by comparing this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads), or contingent deferred sales charges on redemptions. Therefore, the hypothetical example is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

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EXPENSE EXAMPLE (continued)

	Beginning Account Value April 1, 2022		Ending Account Value September 30, 2022		Expenses Paid During Period*		Annualized Expense Ratio*
Class A
Actual	$	1,000	$	914.80	$	4.56		0.95	%
Hypothetical**	$	1,000	$	1,020.31	$	4.81		0.95	%
Class C
Actual	$	1,000	$	911.20	$	8.14		1.70	%
Hypothetical**	$	1,000	$	1,016.55	$	8.59		1.70	%
Advisor Class
Actual	$	1,000	$	915.70	$	3.36		0.70	%
Hypothetical**	$	1,000	$	1,021.56	$	3.55		0.70	%
Class R
Actual	$	1,000	$	914.50	$	3.79		0.79	%
Hypothetical**	$	1,000	$	1,021.11	$	4.00		0.79	%
Class K
Actual	$	1,000	$	914.60	$	3.70		0.77	%
Hypothetical**	$	1,000	$	1,021.21	$	3.90		0.77	%
Class I
Actual	$	1,000	$	915.90	$	3.36		0.70	%
Hypothetical**	$	1,000	$	1,021.56	$	3.55		0.70	%

* Expenses are equal to the classes’ annualized expense ratios, multiplied by the average account value over the period, multiplied by 183/365 (to reflect the one-half year period).

** Assumes 5% annual return before expenses.

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PORTFOLIO SUMMARY

September 30, 2022 (unaudited)

PORTFOLIO STATISTICS

Net Assets ($mil): $317.9

1 All data are as of September 30, 2022. The Fund’s security type breakdown is expressed as a percentage of total investments 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).

2 “Other” represents less than 0.1% in Asset-Backed Securities and Preferred Stocks.

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PORTFOLIO OF INVESTMENTS

September 30, 2022

		Principal Amount (000)		U.S. $ Value
CORPORATES - NON-INVESTMENT GRADE – 45.5%
Industrial – 39.4%
Basic – 2.9%
Ahlstrom-Munksjo Holding 3 Oy 3.625%, 02/04/2028(a)	EUR		310	$	238,668
ASP Unifrax Holdings, Inc. 5.25%, 09/30/2028(a)	U.S.$		227		174,615
Cheever Escrow Issuer LLC 7.125%, 10/01/2027(a)			453		407,972
Cleveland-Cliffs, Inc. 6.75%, 03/15/2026(a)			294		289,199
Constellium SE 3.125%, 07/15/2029(a)	EUR		617		433,182
FMG Resources (August 2006) Pty Ltd. 5.125%, 05/15/2024(a)	U.S.$		632		618,671
Guala Closures SpA 3.25%, 06/15/2028(a)	EUR		716		555,008
Hecla Mining Co. 7.25%, 02/15/2028	U.S.$		298		277,158
INEOS Quattro Finance 1 PLC 3.75%, 07/15/2026(a)	EUR		300		226,389
INEOS Quattro Finance 2 PLC 2.50%, 01/15/2026(a)			257		206,954
3.375%, 01/15/2026(a)	U.S.$		1,073		893,863
INEOS Styrolution Group GmbH 2.25%, 01/16/2027(a)	EUR		280		211,299
Kleopatra Finco Sarl 4.25%, 03/01/2026(a)			920		724,103
Olympus Water US Holding Corp. 3.875%, 10/01/2028(a)			100		74,219
Rimini Bidco SpA 6.25% (EURIBOR 3 Month + 5.25%), 12/14/2026(a)(b)			995		823,280
SCIL IV LLC/SCIL USA Holdings LLC 4.375%, 11/01/2026(a)			187		146,170
4.642% (EURIBOR 3 Month + 4.38%), 11/01/2026(a)(b)			318		284,729
5.375%, 11/01/2026(a)	U.S.$		551		428,513
SPCM SA 3.125%, 03/15/2027(a)			862		753,853
Synthomer PLC 3.875%, 07/01/2025(a)	EUR		200		158,964
thyssenkrupp AG 2.875%, 02/22/2024(a)			343		314,852
WR Grace Holdings LLC 4.875%, 06/15/2027(a)	U.S.$		1,037		893,396
					9,135,057

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Capital Goods – 4.0%
ARD Finance SA 5.00% (5.00% Cash or 5.75% PIK), 06/30/2027(a)(c)	EUR		251	$	167,590
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC 6.00%, 06/15/2027(a)	U.S.$		324		306,818
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. 2.125%, 08/15/2026(a)	EUR		200		150,610
4.125%, 08/15/2026(a)	U.S.$		523		435,058
5.25%, 08/15/2027(a)			521		324,255
Ball Corp. 1.50%, 03/15/2027	EUR		493		403,259
Bombardier, Inc. 7.50%, 03/15/2025(a)	U.S.$		23		22,369
7.875%, 04/15/2027(a)			1,039		955,984
Clean Harbors, Inc. 4.875%, 07/15/2027(a)			852		778,455
Eco Material Technologies, Inc. 7.875%, 01/31/2027(a)			1,011		897,404
Gates Global LLC/Gates Corp. 6.25%, 01/15/2026(a)			1,143		1,051,560
GFL Environmental, Inc. 3.75%, 08/01/2025(a)			355		327,580
4.00%, 08/01/2028(a)			489		407,601
5.125%, 12/15/2026(a)			64		59,729
LSB Industries, Inc. 6.25%, 10/15/2028(a)			319		274,011
Paprec Holding SA 3.50%, 07/01/2028(a)	EUR		260		194,843
PCF GmbH 4.75%, 04/15/2026(a)			520		410,682
Renk AG/Frankfurt am Main 5.75%, 07/15/2025(a)			931		836,212
Silgan Holdings, Inc. 2.25%, 06/01/2028			412		323,178
Tervita Corp. 11.00%, 12/01/2025(a)	U.S.$		263		284,697
TK Elevator Midco GmbH 4.375%, 07/15/2027(a)	EUR		180		148,256
TK Elevator US Newco, Inc. 5.25%, 07/15/2027(a)	U.S.$		847		721,517
TransDigm, Inc. 5.50%, 11/15/2027			794		689,565
8.00%, 12/15/2025(a)			275		278,990

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    15

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Triumph Group, Inc. 6.25%, 09/15/2024(a)	U.S.$		491	$	447,262
8.875%, 06/01/2024(a)			1,091		1,078,628
Trivium Packaging Finance BV 3.75%, 08/15/2026(a)	EUR		440		388,100
5.50%, 08/15/2026(a)	U.S.$		232		209,368
WESCO Distribution, Inc. 7.125%, 06/15/2025(a)			262		262,008
					12,835,589
Communications - Media – 3.1%
Altice Financing SA 2.25%, 01/15/2025(a)	EUR		106		91,264
5.00%, 01/15/2028(a)	U.S.$		1,078		832,960
AMC Networks, Inc. 5.00%, 04/01/2024			284		273,222
Banijay Entertainment SASU 3.50%, 03/01/2025(a)	EUR		360		326,420
5.375%, 03/01/2025(a)	U.S.$		999		936,003
CCO Holdings LLC/CCO Holdings Capital Corp. 4.00%, 03/01/2023(a)			614		610,918
5.125%, 05/01/2027(a)			352		317,687
6.375%, 09/01/2029(a)			652		598,569
Clear Channel Outdoor Holdings, Inc. 5.125%, 08/15/2027(a)			37		31,359
DISH DBS Corp. 5.00%, 03/15/2023			63		61,644
5.25%, 12/01/2026(a)			725		598,393
5.75%, 12/01/2028(a)			754		568,471
7.75%, 07/01/2026			145		111,200
iHeartCommunications, Inc. 6.375%, 05/01/2026			508		471,302
McGraw-Hill Education, Inc. 5.75%, 08/01/2028(a)			714		596,190
Sinclair Television Group, Inc. 5.50%, 03/01/2030(a)			431		310,320
Sirius XM Radio, Inc. 3.125%, 09/01/2026(a)			736		646,444
4.00%, 07/15/2028(a)			972		827,891
Summer BC Bidco B LLC 5.50%, 10/31/2026(a)			350		288,809
Univision Communications, Inc. 5.125%, 02/15/2025(a)			357		338,754
6.625%, 06/01/2027(a)			304		287,350
Urban One, Inc. 7.375%, 02/01/2028(a)			608		516,593

16    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Virgin Media Finance PLC 3.75%, 07/15/2030(a)	EUR		210	$	147,622
Virgin Media Secured Finance PLC 5.00%, 04/15/2027(a)	GBP		200		194,195
					9,983,580
Communications - Telecommunications – 1.1%
Altice France SA/France 5.125%, 07/15/2029(a)	U.S.$		200		149,472
Connect Finco SARL/Connect US Finco LLC 6.75%, 10/01/2026(a)			791		691,247
Consolidated Communications, Inc. 5.00%, 10/01/2028(a)			246		171,442
6.50%, 10/01/2028(a)			280		209,297
DKT Finance ApS 9.375%, 06/17/2023(a)			200		192,500
Kaixo Bondco Telecom SA 5.125%, 09/30/2029(a)	EUR		590		453,887
Level 3 Financing, Inc. 4.625%, 09/15/2027(a)	U.S.$		154		128,163
Lorca Telecom Bondco SA 4.00%, 09/18/2027(a)	EUR		1,164		992,637
United Group BV 4.00%, 11/15/2027(a)			120		83,376
5.142% (EURIBOR 3 Month + 4.88%), 02/01/2029(a)(b)			317		256,696
Zayo Group Holdings, Inc. 4.00%, 03/01/2027(a)	U.S.$		140		112,501
6.125%, 03/01/2028(a)			30		21,090
					3,462,308
Consumer Cyclical - Automotive – 2.4%
American Axle & Manufacturing, Inc. 6.50%, 04/01/2027			49		41,543
Clarios Global LP/Clarios US Finance Co. 4.375%, 05/15/2026(a)	EUR		430		372,137
6.25%, 05/15/2026(a)	U.S.$		511		487,944
Faurecia SE 2.75%, 02/15/2027(a)	EUR		200		150,610
Ford Motor Credit Co. LLC 2.30%, 02/10/2025	U.S.$		252		224,827
Ford Motor Credit Co. LLC 2.70%, 08/10/2026			254		210,414
4.95%, 05/28/2027			246		220,047
Goodyear Tire & Rubber Co. (The) 5.00%, 07/15/2029			419		343,253
IHO Verwaltungs GmbH 3.625% (3.625% Cash or 4.375% PIK), 05/15/2025(a)(c)	EUR		281		240,867

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    17

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
6.00% (6.00% Cash or 6.75% PIK), 05/15/2027(a)(c)	U.S.$		1,073	$	941,639
Jaguar Land Rover Automotive PLC 4.50%, 10/01/2027(a)			954		659,099
5.875%, 11/15/2024(a)	EUR		100		86,106
6.875%, 11/15/2026(a)			702		536,657
7.75%, 10/15/2025(a)	U.S.$		293		271,274
Mclaren Finance PLC 7.50%, 08/01/2026(a)			357		289,248
PM General Purchaser LLC 9.50%, 10/01/2028(a)			148		124,009
Schaeffler AG 3.375%, 10/12/2028(a)	EUR		800		639,377
Tenneco, Inc. 7.875%, 01/15/2029(a)	U.S.$		378		374,379
ZF Europe Finance BV 2.00%, 02/23/2026(a)	EUR		300		244,885
ZF Finance GmbH 3.00%, 09/21/2025(a)			200		173,588
ZF North America Capital, Inc. 4.75%, 04/29/2025(a)	U.S.$		1,233		1,122,992
					7,754,895
Consumer Cyclical - Entertainment – 3.1%
Boyne USA, Inc. 4.75%, 05/15/2029(a)			197		165,384
Carnival Corp. 1.875%, 11/07/2022	EUR		785		762,846
4.00%, 08/01/2028(a)	U.S.$		449		362,415
5.75%, 03/01/2027(a)			246		172,485
7.625%, 03/01/2026(a)	EUR		182		139,337
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op 5.50%, 05/01/2025(a)	U.S.$		1,294		1,246,174
CPUK Finance Ltd. 4.50%, 08/28/2027(a)	GBP		400		375,549
Lindblad Expeditions LLC 6.75%, 02/15/2027(a)	U.S.$		396		350,432
Mattel, Inc. 3.375%, 04/01/2026(a)			1,100		987,008
Motion Bondco DAC 4.50%, 11/15/2027(a)	EUR		239		188,116
NCL Corp., Ltd. 3.625%, 12/15/2024(a)	U.S.$		891		757,092
Royal Caribbean Cruises Ltd. 5.375%, 07/15/2027(a)			299		219,687
5.50%, 08/31/2026(a)			244		186,677

18    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
5.50%, 04/01/2028(a)	U.S.$		526	$	369,768
9.25%, 01/15/2029(a)			378		373,729
10.875%, 06/01/2023(a)			169		173,502
11.50%, 06/01/2025(a)			363		385,691
Vail Resorts, Inc. 6.25%, 05/15/2025(a)			1,353		1,335,898
Viking Cruises Ltd. 5.875%, 09/15/2027(a)			132		100,758
13.00%, 05/15/2025(a)			656		681,197
Viking Ocean Cruises Ship VII Ltd. 5.625%, 02/15/2029(a)			227		176,601
VOC Escrow Ltd. 5.00%, 02/15/2028(a)			434		353,793
					9,864,139
Consumer Cyclical - Other – 3.3%
Adams Homes, Inc. 7.50%, 02/15/2025(a)			435		358,940
Allwyn Entertainment Financing UK PLC 4.446% (EURIBOR 3 Month + 4.12%), 02/15/2028(a)(b)	EUR		466		421,067
Brookfield Residential Properties, Inc./Brookfield Residential US LLC 6.25%, 09/15/2027(a)	U.S.$		545		457,522
Caesars Entertainment, Inc. 6.25%, 07/01/2025(a)			330		318,037
Castle UK Finco PLC 5.571% (EURIBOR 3 Month + 5.25%), 05/15/2028(a)(b)	EUR		194		150,912
7.00%, 05/15/2029(a)	GBP		276		205,875
Churchill Downs, Inc. 4.75%, 01/15/2028(a)	U.S.$		331		287,728
Cirsa Finance International SARL 4.75%, 05/22/2025(a)	EUR		360		313,994
Empire Communities Corp. 7.00%, 12/15/2025(a)	U.S.$		759		633,385
Five Point Operating Co. LP/Five Point Capital Corp. 7.875%, 11/15/2025(a)			1,125		894,769
Forestar Group, Inc. 3.85%, 05/15/2026(a)			464		384,939
Hilton Domestic Operating Co., Inc. 4.875%, 01/15/2030			526		459,098
5.375%, 05/01/2025(a)			105		102,747
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875%, 07/01/2031(a)			35		26,738
5.00%, 06/01/2029(a)			422		340,448

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    19

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
International Game Technology PLC 3.50%, 06/15/2026(a)	EUR		300	$	261,041
KB Home 7.625%, 05/15/2023	U.S.$		355		354,996
Marriott Ownership Resorts, Inc. 4.50%, 06/15/2029(a)			139		110,360
MGM Resorts International 5.50%, 04/15/2027			267		239,325
NAC Aviation 29 DAC 4.75%, 06/30/2026(d)			354		294,068
NH Hotel Group SA 4.00%, 07/02/2026(a)	EUR		817		697,018
Samsonite Finco SARL 3.50%, 05/15/2026(a)			685		594,098
Shea Homes LP/Shea Homes Funding Corp. 4.75%, 02/15/2028(a)	U.S.$		445		361,821
Taylor Morrison Communities, Inc. 5.875%, 06/15/2027(a)			195		181,565
Travel + Leisure Co. 6.625%, 07/31/2026(a)			1,119		1,052,688
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25%, 05/15/2027(a)			1,024		902,380
					10,405,559
Consumer Cyclical - Restaurants – 0.4%
1011778 BC ULC/New Red Finance, Inc. 5.75%, 04/15/2025(a)			452		448,081
Stonegate Pub Co. Financing 2019 PLC 8.00%, 07/13/2025(a)	GBP		112		109,047
8.25%, 07/31/2025(a)			670		656,014
					1,213,142
Consumer Cyclical - Retailers – 2.3%
Bath & Body Works, Inc. 5.25%, 02/01/2028	U.S.$		1,474		1,283,559
CT Investment GmbH 5.50%, 04/15/2026(a)	EUR		360		296,381
Dufry One BV 2.00%, 02/15/2027(a)			571		425,778
2.50%, 10/15/2024(a)			748		672,379
eG Global Finance PLC 4.375%, 02/07/2025(a)			610		514,421
Hanesbrands, Inc. 4.625%, 05/15/2024(a)	U.S.$		607		581,020
4.875%, 05/15/2026(a)			170		152,684
Michaels Cos, Inc. (The) 5.25%, 05/01/2028(a)			965		677,903

20    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
PetSmart, Inc./PetSmart Finance Corp. 4.75%, 02/15/2028(a)	U.S.$		302	$	259,919
7.75%, 02/15/2029(a)			317		283,490
Rite Aid Corp. 7.50%, 07/01/2025(a)			101		76,690
Sonic Automotive, Inc. 4.625%, 11/15/2029(a)			116		91,110
Specialty Building Products Holdings LLC/SBP Finance Corp. 6.375%, 09/30/2026(a)			357		298,149
SRS Distribution, Inc. 4.625%, 07/01/2028(a)			509		436,356
Staples, Inc. 7.50%, 04/15/2026(a)			739		620,442
TPro Acquisition Corp. 11.00%, 10/15/2024(a)			177		173,609
William Carter Co. (The) 5.625%, 03/15/2027(a)			547		511,921
					7,355,811
Consumer Non-Cyclical – 3.9%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC 3.50%, 02/15/2023(a)			397		393,467
4.625%, 01/15/2027(a)			694		624,885
7.50%, 03/15/2026(a)			185		186,789
Avantor Funding, Inc. 2.625%, 11/01/2025(a)	EUR		346		308,891
CAB SELAS 3.375%, 02/01/2028(a)			659		494,659
CD&R Smokey Buyer, Inc. 6.75%, 07/15/2025(a)	U.S.$		321		294,370
Cheplapharm Arzneimittel GmbH 3.50%, 02/11/2027(a)	EUR		106		85,140
Cidron Aida Finco SARL 5.00%, 04/01/2028(a)			430		346,261
5.00%, 04/01/2028(a)			145		116,762
Emergent BioSolutions, Inc. 3.875%, 08/15/2028(a)	U.S.$		1,030		681,819
Global Medical Response, Inc. 6.50%, 10/01/2025(a)			290		243,707
Grifols Escrow Issuer SA 3.875%, 10/15/2028(a)	EUR		481		348,368
4.75%, 10/15/2028(a)	U.S.$		1,124		868,076
Gruenenthal GmbH 4.125%, 05/15/2028(a)	EUR		907		737,436
Horizon Therapeutics USA, Inc. 5.50%, 08/01/2027(a)	U.S.$		1,106		1,035,570

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    21

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
IQVIA, Inc. 1.75%, 03/15/2026(a)	EUR		798	$	677,305
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. 7.00%, 12/31/2027(a)	U.S.$		469		358,921
Legacy LifePoint Health LLC 4.375%, 02/15/2027(a)			147		122,250
6.75%, 04/15/2025(a)			469		443,866
ModivCare, Inc. 5.875%, 11/15/2025(a)			221		204,699
Nidda Healthcare Holding GmbH 3.50%, 09/30/2024(a)	EUR		1,120		995,409
Organon & Co.,/Organon Foreign Debt Co-Issuer BV 4.125%, 04/30/2028(a)	U.S.$		497		424,895
Picard Groupe SAS 3.875%, 07/01/2026(a)	EUR		310		254,433
Post Holdings, Inc. 5.75%, 03/01/2027(a)	U.S.$		183		174,752
Premier Foods Finance PLC 3.50%, 10/15/2026(a)	GBP		200		177,960
RP Escrow Issuer LLC 5.25%, 12/15/2025(a)	U.S.$		570		470,792
Syneos Health, Inc. 3.625%, 01/15/2029(a)			757		602,988
US Acute Care Solutions LLC 6.375%, 03/01/2026(a)			731		613,982
					12,288,452
Energy – 3.1%
Athabasca Oil Corp. 9.75%, 11/01/2026(a)			307		325,444
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.625%, 12/15/2025(a)			653		629,760
Callon Petroleum Co. 8.25%, 07/15/2025			125		122,240
CITGO Petroleum Corp. 6.375%, 06/15/2026(a)			356		333,291
7.00%, 06/15/2025(a)			376		359,163
Civitas Resources, Inc. 5.00%, 10/15/2026(a)			407		369,605
CNX Resources Corp. 6.00%, 01/15/2029(a)			165		151,617
Crescent Energy Finance LLC 7.25%, 05/01/2026(a)			467		420,122
Cullinan Holdco Scsp 4.625%, 10/15/2026(a)	EUR		190		156,865

22    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
EnLink Midstream Partners LP 4.15%, 06/01/2025	U.S.$		306	$	283,977
4.85%, 07/15/2026			582		538,653
EQM Midstream Partners LP 4.125%, 12/01/2026			1,400		1,188,740
Genesis Energy LP/Genesis Energy Finance Corp. 5.625%, 06/15/2024			108		102,381
7.75%, 02/01/2028			680		587,812
8.00%, 01/15/2027			449		393,899
Gulfport Energy Corp. 6.00%, 10/15/2024(e)(f)			400		500
8.00%, 05/17/2026(a)			64		63,796
Hess Midstream Operations LP 5.625%, 02/15/2026(a)			195		185,096
Nabors Industries Ltd. 7.25%, 01/15/2026(a)			271		236,415
Nabors Industries, Inc. 7.375%, 05/15/2027(a)			563		520,184
New Fortress Energy, Inc. 6.75%, 09/15/2025(a)			380		359,830
NGL Energy Operating LLC/NGL Energy Finance Corp. 7.50%, 02/01/2026(a)			312		277,733
NGL Energy Partners LP/NGL Energy Finance Corp. 7.50%, 11/01/2023			455		440,262
PDC Energy, Inc. 5.75%, 05/15/2026			228		210,966
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 8.50%, 10/15/2026(a)			745		698,519
Sunnova Energy Corp. 5.875%, 09/01/2026(a)			356		318,175
Transocean Phoenix 2 Ltd. 7.75%, 10/15/2024(a)			153		148,210
Transocean Sentry Ltd. 5.375%, 05/15/2023(a)			396		381,774
Weatherford International Ltd. 11.00%, 12/01/2024(a)			12		12,213
					9,817,242
Other Industrial – 0.4%
Belden, Inc. 3.375%, 07/15/2031(a)	EUR		693		481,997
SIG PLC 5.25%, 11/30/2026(a)			958		725,939
					1,207,936

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    23

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Services – 4.0%
ADT Security Corp. (The) 4.125%, 06/15/2023	U.S.$		539	$	534,268
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.625%, 07/15/2026(a)			597		532,190
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL 3.625%, 06/01/2028(a)	EUR		160		116,824
4.625%, 06/01/2028(a)	U.S.$		602		458,863
ANGI Group LLC 3.875%, 08/15/2028(a)			969		684,337
APCOA Parking Holdings GmbH 4.625%, 01/15/2027(a)	EUR		210		163,232
APX Group, Inc. 6.75%, 02/15/2027(a)	U.S.$		1,024		961,413
Aramark Services, Inc. 5.00%, 04/01/2025(a)			506		484,758
Block, Inc. 2.75%, 06/01/2026			1,375		1,181,661
Elior Group SA 3.75%, 07/15/2026(a)	EUR		200		149,168
Garda World Security Corp. 4.625%, 02/15/2027(a)	U.S.$		678		582,355
Intertrust Group BV 3.375%, 11/15/2025(a)	EUR		556		531,198
ION Trading Technologies SARL 5.75%, 05/15/2028(a)	U.S.$		556		451,922
Millennium Escrow Corp. 6.625%, 08/01/2026(a)			748		597,248
MoneyGram International, Inc. 5.375%, 08/01/2026(a)			637		624,273
MPH Acquisition Holdings LLC 5.50%, 09/01/2028(a)			860		710,446
Prime Security Services Borrower LLC/Prime Finance, Inc. 3.375%, 08/31/2027(a)			178		149,728
5.25%, 04/15/2024(a)			583		568,017
5.75%, 04/15/2026(a)			225		211,675
6.25%, 01/15/2028(a)			753		644,832
Q-Park Holding I BV 2.00%, 03/01/2027(a)	EUR		221		171,696
Ritchie Bros Auctioneers, Inc. 5.375%, 01/15/2025(a)	U.S.$		85		83,475
Sabre GLBL, Inc. 7.375%, 09/01/2025(a)			585		523,873
9.25%, 04/15/2025(a)			141		134,989

24    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Techem Verwaltungsgesellschaft 675 mbH 2.00%, 07/15/2025(a)	EUR		200	$	171,546
TripAdvisor, Inc. 7.00%, 07/15/2025(a)	U.S.$		461		449,756
Verisure Holding AB 3.25%, 02/15/2027(a)	EUR		638		507,583
3.875%, 07/15/2026(a)			519		437,680
					12,819,006
Technology – 2.8%
Avaya, Inc. 6.125%, 09/15/2028(a)	U.S.$		345		170,882
Black Knight InfoServ LLC 3.625%, 09/01/2028(a)			438		373,088
Centurion Bidco SpA 5.875%, 09/30/2026(a)	EUR		1,310		1,124,217
Clarivate Science Holdings Corp. 3.875%, 07/01/2028(a)	U.S.$		1,039		858,786
CWT Travel Group, Inc. 8.50%, 11/19/2026(a)			994		858,581
NCR Corp. 5.75%, 09/01/2027(a)			319		289,406
NortonLifeLock, Inc. 6.75%, 09/30/2027(a)			1,313		1,264,038
Pitney Bowes, Inc. 6.875%, 03/15/2027(a)			315		194,765
Playtech PLC 4.25%, 03/07/2026(a)	EUR		130		115,437
Presidio Holdings, Inc. 4.875%, 02/01/2027(a)	U.S.$		543		480,017
Rackspace Technology Global, Inc. 3.50%, 02/15/2028(a)			1,378		910,100
Seagate HDD Cayman 4.875%, 03/01/2024			218		212,199
TeamSystem SpA 3.50%, 02/15/2028(a)	EUR		200		162,194
Veritas US, Inc./Veritas Bermuda Ltd. 7.50%, 09/01/2025(a)	U.S.$		1,857		1,422,926
Virtusa Corp. 7.125%, 12/15/2028(a)			269		201,134
Xerox Corp. 4.625%, 03/15/2023			155		153,624
					8,791,394
Transportation - Airlines – 1.1%
Allegiant Travel Co. 7.25%, 08/15/2027(a)			337		318,074

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    25

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.50%, 04/20/2026(a)	U.S.$		602	$	565,735
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.75%, 01/20/2026(a)			1,711		1,512,114
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.00%, 09/20/2025(a)			618		622,579
United Airlines, Inc. 4.375%, 04/15/2026(a)			395		352,431
					3,370,933
Transportation - Services – 1.5%
AerCap Global Aviation Trust 6.50%, 06/15/2045(a)			291		265,590
Albion Financing 1 SARL/Aggreko Holdings, Inc. 5.25%, 10/15/2026(a)	EUR		253		212,228
6.125%, 10/15/2026(a)	U.S.$		475		402,966
Atlantia SpA 1.875%, 02/12/2028(a)	EUR		573		422,317
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 4.75%, 04/01/2028(a)	U.S.$		418		342,856
5.75%, 07/15/2027(a)			69		60,644
BCP V Modular Services Finance II PLC 4.75%, 11/30/2028(a)	EUR		1,295		1,020,916
EC Finance PLC 3.00%, 10/15/2026(a)			322		274,122
Hertz Corp. (The) 4.625%, 12/01/2026(a)	U.S.$		1,328		1,085,640
Kapla Holding SAS 3.375%, 12/15/2026(a)	EUR		410		335,203
Loxam SAS 4.50%, 02/15/2027(a)			404		335,072
					4,757,554
					125,062,597
Financial Institutions – 5.7%
Banking – 1.1%
Bread Financial Holdings, Inc. 4.75%, 12/15/2024(a)	U.S.$		1,128		984,473
CaixaBank SA 5.875%, 10/09/2027(a)(g)	EUR		200		164,051
Discover Financial Services Series D 6.125%, 06/23/2025(g)	U.S.$		811		792,996

26    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Intesa Sanpaolo SpA 5.017%, 06/26/2024(a)	U.S.$		914	$	853,137
5.71%, 01/15/2026(a)			347		316,710
Societe Generale SA 8.00%, 09/29/2025(a)(g)			386		366,264
					3,477,631
Brokerage – 0.5%
AG Issuer LLC 6.25%, 03/01/2028(a)			144		125,578
AG TTMT Escrow Issuer LLC 8.625%, 09/30/2027(a)			824		775,046
NFP Corp. 4.875%, 08/15/2028(a)			688		587,339
					1,487,963
Finance – 1.8%
Castlelake Aviation Finance DAC 5.00%, 04/15/2027(a)			748		637,902
Curo Group Holdings Corp. 7.50%, 08/01/2028(a)			1,013		496,025
Enova International, Inc. 8.50%, 09/15/2025(a)			1,037		901,402
goeasy Ltd. 4.375%, 05/01/2026(a)			495		437,516
5.375%, 12/01/2024(a)			852		809,212
Jefferies Finance LLC/JFIN Co-Issuer Corp. 5.00%, 08/15/2028(a)			808		595,730
Lincoln Financing SARL 3.625%, 04/01/2024(a)	EUR		327		309,516
Navient Corp. 4.875%, 03/15/2028	U.S.$		56		42,843
5.00%, 03/15/2027			441		363,865
5.50%, 01/25/2023			506		506,066
6.75%, 06/25/2025			607		569,360
6.75%, 06/15/2026			70		63,617
7.25%, 09/25/2023			82		82,081
					5,815,135
Other Finance – 0.4%
Coinbase Global, Inc. 3.375%, 10/01/2028(a)			616		385,721
Intrum AB
3.50%, 07/15/2026(a)	EUR		250		195,065
4.875%, 08/15/2025(a)			345		298,679
Motion Finco Sarl 7.00%, 05/15/2025(a)			492		477,401
					1,356,866

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
REITs – 1.9%
ADLER Real Estate AG 1.875%, 04/27/2023(a)	EUR		800	$	640,498
Aedas Homes Opco SLU 4.00%, 08/15/2026(a)			826		688,020
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL 4.50%, 04/01/2027(a)	U.S.$		1,042		852,971
5.75%, 05/15/2026(a)			1,011		919,969
Diversified Healthcare Trust 9.75%, 06/15/2025			176		159,685
Iron Mountain, Inc. 4.875%, 09/15/2027(a)			323		289,637
Neinor Homes SA 4.50%, 10/15/2026(a)	EUR		821		674,112
Via Celere Desarrollos Inmobiliarios SA 5.25%, 04/01/2026(a)			1,119		969,067
Vivion Investments SARL 3.00%, 08/08/2024(a)			900		800,174
3.50%, 11/01/2025(a)			100		86,924
					6,081,057
					18,218,652
Utility – 0.4%
Electric – 0.4%
Calpine Corp. 4.50%, 02/15/2028(a)	U.S.$		879		769,670
ContourGlobal Power Holdings SA 3.125%, 01/01/2028(a)	EUR		120		87,221
Vistra Operations Co. LLC 5.50%, 09/01/2026(a)	U.S.$		528		493,152
					1,350,043
Total Corporates - Non-Investment Grade (cost $171,706,287)					144,631,292
CORPORATES - INVESTMENT GRADE – 18.4%
Industrial – 11.7%
Basic – 2.2%
Anglo American Capital PLC 4.75%, 04/10/2027(a)			1,323		1,250,599
Arconic Corp. 6.00%, 05/15/2025(a)			285		274,780
Braskem Netherlands Finance BV 4.50%, 01/31/2030(a)			517		415,565
4.50%, 01/10/2028(a)			341		287,702
Celanese US Holdings LLC 5.90%, 07/05/2024			320		315,715
6.05%, 03/15/2025			320		312,666

28    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Freeport Indonesia PT 4.763%, 04/14/2027(a)	U.S.$		218	$	197,290
Freeport-McMoRan, Inc. 3.875%, 03/15/2023			521		518,447
Glencore Finance Europe Ltd. 1.875%, 09/13/2023(a)	EUR		290		280,073
Industrias Penoles SAB de CV 5.65%, 09/12/2049(a)	U.S.$		395		324,591
INEOS Finance PLC 2.125%, 11/15/2025(a)	EUR		200		164,507
2.875%, 05/01/2026(a)			472		387,229
3.375%, 03/31/2026(a)			185		154,804
MEGlobal Canada ULC 5.00%, 05/18/2025(a)	U.S.$		248		242,341
Nexa Resources SA 5.375%, 05/04/2027(a)			346		306,815
SABIC Capital II BV 4.50%, 10/10/2028(a)			319		309,191
Smurfit Kappa Acquisitions ULC 2.875%, 01/15/2026(a)	EUR		334		316,436
Suzano Austria GmbH 6.00%, 01/15/2029	U.S.$		309		288,297
Westlake Corp. 3.60%, 08/15/2026			843		786,215
					7,133,263
Capital Goods – 0.0%
Westinghouse Air Brake Technologies Corp. 3.20%, 06/15/2025			91		85,033
4.40%, 03/15/2024			50		49,101
					134,134
Communications - Media – 0.6%
Netflix, Inc. 3.625%, 05/15/2027	EUR		1,136		1,047,951
Pinewood Finance Co., Ltd. 3.625%, 11/15/2027(a)	GBP		200		179,809
Prosus NV 4.85%, 07/06/2027(a)	U.S.$		321		284,045
Weibo Corp. 3.50%, 07/05/2024			352		336,204
					1,848,009
Consumer Cyclical - Automotive – 1.2%
General Motors Financial Co., Inc. 2.20%, 04/01/2024(a)	EUR		472		449,849
Harley-Davidson Financial Services, Inc. 3.05%, 02/14/2027(a)	U.S.$		506		434,117
3.35%, 06/08/2025(a)			268		251,604

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Hyundai Capital America 5.875%, 04/07/2025(a)	U.S.$		771	$	772,018
Nissan Motor Acceptance Co. LLC 3.45%, 03/15/2023(a)			29		28,743
Nissan Motor Co., Ltd. 4.345%, 09/17/2027(a)			1,110		956,354
Volkswagen Group of America Finance LLC 3.35%, 05/13/2025(a)			785		744,714
					3,637,399
Consumer Cyclical - Other – 1.2%
Genting New York LLC/GENNY Capital, Inc. 3.30%, 02/15/2026(a)			588		516,482
Gohl Capital Ltd. 4.25%, 01/24/2027(a)			347		288,184
Las Vegas Sands Corp. 3.20%, 08/08/2024			545		512,414
3.90%, 08/08/2029			674		558,537
Marriott International, Inc./MD Series EE 5.75%, 05/01/2025			112		113,216
PulteGroup, Inc. 5.50%, 03/01/2026			345		341,657
Sands China Ltd. 4.30%, 01/08/2026			437		369,265
5.90%, 08/08/2028			318		266,325
Toll Brothers Finance Corp. 4.375%, 04/15/2023			867		863,020
					3,829,100
Consumer Cyclical - Retailers – 0.3%
Advance Auto Parts, Inc. 3.90%, 04/15/2030			719		618,657
PVH Corp. 4.625%, 07/10/2025			246		235,862
Ross Stores, Inc. 4.70%, 04/15/2027			142		138,670
					993,189
Consumer Non-Cyclical – 1.5%
BAT Capital Corp. 2.259%, 03/25/2028			735		585,420
BAT International Finance PLC 4.448%, 03/16/2028			1,586		1,413,586
Charles River Laboratories International, Inc. 4.25%, 05/01/2028(a)			1,061		927,738
Kimberly-Clark de Mexico SAB de CV 2.431%, 07/01/2031(a)			343		270,970

30    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Newell Brands, Inc. 4.10%, 04/01/2023	U.S.$		72	$	72,040
4.45%, 04/01/2026			1,190		1,094,836
4.875%, 06/01/2025			122		118,086
6.375%, 09/15/2027			165		163,632
6.625%, 09/15/2029			165		161,359
					4,807,667
Energy – 2.9%
Cheniere Energy Partners LP 4.50%, 10/01/2029			193		170,408
Continental Resources, Inc./OK 3.80%, 06/01/2024			483		468,413
Devon Energy Corp. 4.50%, 01/15/2030			345		315,627
Ecopetrol SA 4.125%, 01/16/2025			353		321,517
5.375%, 06/26/2026			329		297,396
Energy Transfer LP 3.90%, 05/15/2024			1,564		1,522,194
3.90%, 07/15/2026			20		18,640
4.75%, 01/15/2026			253		244,193
Hunt Oil Co. of Peru LLC Sucursal Del Peru 6.375%, 06/01/2028(a)			183		162,968
Marathon Petroleum Corp. 4.70%, 05/01/2025			345		339,107
5.125%, 12/15/2026			1,656		1,630,017
Oleoducto Central SA 4.00%, 07/14/2027(a)			560		433,405
ONEOK, Inc. 4.35%, 03/15/2029			323		288,332
6.35%, 01/15/2031			200		196,244
Plains All American Pipeline LP/PAA Finance Corp. 4.50%, 12/15/2026			57		53,943
4.65%, 10/15/2025			681		655,926
Raizen Fuels Finance SA 5.30%, 01/20/2027(a)			392		372,400
Sabine Pass Liquefaction LLC 5.75%, 05/15/2024			387		388,393
Transportadora de Gas del Peru SA 4.25%, 04/30/2028(a)			343		318,458
Western Midstream Operating LP 4.30%, 02/01/2030			1,182		1,005,504
					9,203,085
Services – 0.1%
Booking Holdings, Inc. 4.625%, 04/13/2030			195		183,602

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Expedia Group, Inc. 6.25%, 05/01/2025(a)	U.S.$		50	$	50,306
					233,908
Technology – 1.1%
Baidu, Inc. 3.075%, 04/07/2025			234		220,643
Broadcom, Inc. 3.187%, 11/15/2036(a)			719		492,321
4.00%, 04/15/2029(a)			386		340,270
4.15%, 11/15/2030			149		128,784
4.926%, 05/15/2037(a)			200		165,454
CDW LLC/CDW Finance Corp. 4.125%, 05/01/2025			999		944,405
Entegris Escrow Corp. 4.75%, 04/15/2029(a)			701		621,864
Microchip Technology, Inc. 4.25%, 09/01/2025			238		230,208
Workday, Inc. 3.70%, 04/01/2029			200		179,372
					3,323,321
Transportation - Airlines – 0.4%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(a)			272		263,968
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.50%, 06/20/2027(a)			1,056		1,034,691
					1,298,659
Transportation - Railroads – 0.0%
Lima Metro Line 2 Finance Ltd. 5.875%, 07/05/2034(a)			96		90,732
Transportation - Services – 0.2%
Adani Ports & Special Economic Zone Ltd. 4.00%, 07/30/2027(a)			346		300,220
4.375%, 07/03/2029(a)			348		288,579
					588,799
					37,121,265
Financial Institutions – 5.7%
Banking – 2.5%
ABN AMRO Bank NV 7.75%, 05/15/2023(h)			200		202,292
Ally Financial, Inc. 5.75%, 11/20/2025			785		766,395
Banco de Credito del Peru S.A. 3.125%, 07/01/2030(a)			248		217,434

32    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand 5.375%, 04/17/2025(a)	U.S.$		266	$	259,193
Banco Santander SA 4.175%, 03/24/2028			400		361,916
5.179%, 11/19/2025			400		387,116
Bank of Ireland Group PLC 6.253%, 09/16/2026(a)			290		283,901
Citigroup, Inc. 3.875%, 02/18/2026(g)			154		127,624
5.95%, 01/30/2023(g)			305		301,502
Series V 4.70%, 01/30/2025(g)			147		118,138
Series W 4.00%, 12/10/2025(g)			207		174,667
Credit Suisse Group AG 6.373%, 07/15/2026(a)			445		430,150
Danske Bank A/S 3.244%, 12/20/2025(a)			358		333,112
Fifth Third Bancorp Series L 4.50%, 09/30/2025(g)			86		79,919
Lloyds Banking Group PLC 7.625%, 06/27/2023(a)(g)	GBP		410		466,145
Truist Financial Corp. Series Q 5.10%, 03/01/2030(g)	U.S.$		1,090		977,577
UBS Group AG 7.00%, 01/31/2024(a)(g)			343		325,843
7.00%, 02/19/2025(a)(g)			401		380,750
UniCredit SpA 1.982%, 06/03/2027(a)			222		183,217
2.569%, 09/22/2026(a)			482		412,799
5.861%, 06/19/2032(a)			426		353,180
Wells Fargo & Co. Series BB 3.90%, 03/15/2026(g)			878		743,587
					7,886,457
Brokerage – 0.2%
Charles Schwab Corp. (The) Series G 5.375%, 06/01/2025(g)			789		770,664
Finance – 1.2%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust 3.00%, 10/29/2028			922		743,335

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Aircastle Ltd. 2.85%, 01/26/2028(a)	U.S.$		39	$	29,872
4.125%, 05/01/2024			25		24,072
4.25%, 06/15/2026			5		4,484
4.40%, 09/25/2023			59		58,059
5.00%, 04/01/2023			6		5,970
5.25%, 08/11/2025(a)			1,078		1,015,465
Aviation Capital Group LLC 1.95%, 01/30/2026(a)			119		99,923
1.95%, 09/20/2026(a)			428		346,650
3.50%, 11/01/2027(a)			96		79,747
4.125%, 08/01/2025(a)			3		2,749
4.375%, 01/30/2024(a)			308		297,713
4.875%, 10/01/2025(a)			31		28,956
5.50%, 12/15/2024(a)			105		101,619
Huarong Finance II Co., Ltd. 4.625%, 06/03/2026(a)			685		567,266
Power Finance Corp. Ltd. 4.50%, 06/18/2029(a)			341		301,210
					3,707,090
Insurance – 0.5%
Centene Corp. 2.45%, 07/15/2028			1,214		987,249
4.625%, 12/15/2029			20		17,967
Hartford Financial Services Group, Inc. (The) Series ICON 5.03% (LIBOR 3 Month + 2.12%), 02/12/2047(a)(b)			859		704,560
					1,709,776
REITs – 1.3%
GLP Capital LP/GLP Financing II, Inc. 3.35%, 09/01/2024			13		12,340
5.25%, 06/01/2025			191		184,861
5.375%, 04/15/2026			79		75,542
MPT Operating Partnership LP/MPT Finance Corp. 5.00%, 10/15/2027			210		181,381
5.25%, 08/01/2026			530		485,204
Office Properties Income Trust 3.45%, 10/15/2031			452		273,966
4.50%, 02/01/2025			279		251,706
Omega Healthcare Investors, Inc. 3.375%, 02/01/2031			440		336,530
Sabra Health Care LP 3.90%, 10/15/2029			334		273,456
Spirit Realty LP 2.10%, 03/15/2028			346		276,208

34    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Trust Fibra Uno 4.869%, 01/15/2030(a)	U.S.$		211	$	160,663
VICI Properties LP/VICI Note Co., Inc. 5.625%, 05/01/2024(a)			696		683,368
5.75%, 02/01/2027(a)			200		188,386
Vornado Realty LP 2.15%, 06/01/2026			839		709,710
					4,093,321
					18,167,308
Utility – 1.0%
Electric – 1.0%
Adani Transmission Step-One Ltd. 4.00%, 08/03/2026(a)			956		864,762
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(a)			291		229,162
Chile Electricity PEC SpA Zero Coupon, 01/25/2028(a)			460		324,875
Empresa Electrica Cochrane SpA 5.50%, 05/14/2027(a)			316		284,605
Empresas Publicas de Medellin ESP 4.25%, 07/18/2029(a)			427		305,839
Engie Energia Chile SA 3.40%, 01/28/2030(a)			289		218,195
Fenix Power Peru SA 4.317%, 09/20/2027(a)			368		338,214
Kallpa Generacion SA 4.125%, 08/16/2027(a)			710		617,487
					3,183,139
Total Corporates - Investment Grade (cost $66,699,037)					58,471,712
GOVERNMENTS - TREASURIES – 9.2%
United States – 9.2%
U.S. Treasury Notes 1.50%, 01/31/2027			13,418		12,034,627
2.625%, 05/31/2027			8,591		8,067,768
2.75%, 08/15/2032			5,140		4,697,387
2.875%, 05/15/2032			4,878		4,508,062
Total Governments - Treasuries (cost $31,369,209)					29,307,844
BANK LOANS – 7.2%
Industrial – 6.5%
Capital Goods – 0.9%
ACProducts Holdings, Inc.
7.127% (LIBOR 3 Month + 4.25%), 05/17/2028(i)			501		367,887

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    35

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
7.924% (LIBOR 3 Month + 4.25%), 05/17/2028(i)	U.S.$		165	$	121,390
Apex Tool Group, LLC 8.098% (SOFR 1 Month + 5.25%), 02/08/2029(i)			715		630,433
Chariot Buyer LLC 6.615% (LIBOR 1 Month + 3.50%), 11/03/2028(i)			99		89,945
Gates Global LLC 5.615% (LIBOR 1 Month + 2.50%), 03/31/2027(i)			284		272,197
GFL Environmental, Inc. 5.806% (LIBOR 3 Month + 3.00%), 05/30/2025(i)			193		190,514
Granite US Holdings Corporation 7.688% (LIBOR 3 Month + 4.00%), 09/30/2026(d)(i)			540		518,253
TransDigm, Inc. 5.924% (LIBOR 3 Month + 2.25%), 12/09/2025(i)			658		628,985
					2,819,604
Communications - Media – 0.1%
Clear Channel Outdoor Holdings, Inc. 6.306% (LIBOR 3 Month + 3.50%), 08/21/2026(i)			81		72,542
Coral-US Co-Borrower LLC 5.818% (LIBOR 1 Month + 3.00%), 10/15/2029(i)			320		306,800
Univision Communications, Inc. 5.274% (LIBOR 1 Month + 2.75%), 03/15/2024(i)			48		47,453
					426,795
Communications - Telecommunications – 0.9%
Crown Subsea Communications Holding, Inc. 7.314% (LIBOR 1 Month + 4.75%), 04/27/2027(d)(i)			505		485,931
Directv Financing, LLC 8.115% (LIBOR 1 Month + 5.00%), 08/02/2027(i)			309		287,473
Intrado Corporation (West Corp/Olympus Merger) 7.115% (LIBOR 1 Month + 4.00%), 10/10/2024(i)			442		377,405
Proofpoint, Inc. 9.320% (LIBOR 3 Month + 6.25%), 08/31/2029(i)			850		814,937

36    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Zacapa SARL 7.803% (SOFR 3 Month + 4.25%), 03/22/2029(i)	U.S.$		904	$	856,658
					2,822,404
Consumer Cyclical - Automotive – 0.0%
Clarios Global LP 6.365% (LIBOR 1 Month + 3.25%), 04/30/2026(i)			110		103,696
Consumer Cyclical - Entertainment – 0.4%
Seaworld Parks & Entertainment, Inc. 6.125% (LIBOR 1 Month + 3.00%), 08/25/2028(i)			1,358		1,301,204
Consumer Cyclical - Other – 0.2%
Caesars Resort Collection, LLC 5.865% (LIBOR 1 Month + 2.75%), 12/23/2024(i)			410		399,561
Flutter Entertainment PLC 5.892% (LIBOR 3 Month + 2.25%), 07/21/2026(i)			79		76,346
Marriott Ownership Resorts, Inc. 4.865% (LIBOR 1 Month + 1.75%), 08/29/2025(i)			311		295,675
					771,582
Consumer Cyclical - Restaurants – 0.6%
1011778 B.C. Unlimited Liability Company 4.871% (LIBOR 1 Month + 1.75%), 11/19/2026(i)			1,607		1,533,536
IRB Holding Corp. 5.274% (LIBOR 1 Month + 2.75%), 02/05/2025(i)			467		450,778
					1,984,314
Consumer Cyclical - Retailers – 0.2%
Great Outdoors Group, LLC 6.865% (LIBOR 1 Month + 3.75%), 03/06/2028(i)			128		117,637
Restoration Hardware, Inc. 6.384% (SOFR 1 Month + 3.25%), 10/20/2028(i)			630		571,920
					689,557
Consumer Non-Cyclical – 1.1%
Allied Universal Holdco LLC (fka USAGM 6.784% (LIBOR 1 Month + 3.75%), 05/12/2028(i)			566		496,820

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    37

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Gainwell Acquisition Corp. 7.674% (LIBOR 3 Month + 4.00%), 10/01/2027(i)	U.S.$		393	$	373,645
Kronos Acquisition Holdings, Inc. 6.820% (LIBOR 3 Month + 3.75%), 12/22/2026(i)			550		508,324
LifePoint Health, Inc. (fka Regionalcare Hospital Partners Holdings, Inc.) 6.871% (LIBOR 1 Month + 3.75%), 11/16/2025(i)			694		643,750
Padagis LLC 7.043% (LIBOR 3 Month + 4.75%), 07/06/2028(d)(i)			235		203,530
PetSmart LLC 6.870% (LIBOR 1 Month + 3.75%), 02/11/2028(i)			713		673,004
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) 8.924% (LIBOR 3 Month + 5.25%), 12/15/2027(i)			532		467,657
					3,366,730
Energy – 0.5%
CITGO Petroleum Corporation 9.365% (LIBOR 1 Month + 6.25%), 03/28/2024(i)			265		264,863
GIP II Blue Holding, L.P. 8.174% (LIBOR 3 Month + 4.50%), 09/29/2028(i)			941		924,687
Parkway Generation, LLC
7.865% (LIBOR 1 Month + 4.75%), 02/18/2029(i)			318		310,440
7.865% (LIBOR 1 Month + 4.75%), 02/18/2029(d)(i)			40		39,050
					1,539,040
Other Industrial – 0.4%
American Tire Distributors, Inc. 9.033% (LIBOR 3 Month + 6.25%), 10/20/2028(i)			1,133		1,050,995
Dealer Tire, LLC 7.365% (LIBOR 1 Month + 4.25%), 12/12/2025(i)			126		122,790
Rockwood Service Corporation 7.365% (LIBOR 1 Month + 4.25%), 01/23/2027(i)			35		34,174
					1,207,959

38    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Services – 0.2%
Amentum Government Services Holdings LLC 8.170% (LIBOR 3 Month + 4.00%), 01/29/2027(i)	U.S.$		15	$	13,907
7.674% (LIBOR 3 Month + 4.00%), 01/29/2027(i)			44		41,908
Garda World Security Corporation 7.240% (LIBOR 3 Month + 4.25%), 10/30/2026(i)			457		428,745
					484,560
Technology – 1.0%
Ascend Learning, LLC 8.865% (LIBOR 1 Month + 5.75%), 12/10/2029(i)			300		259,689
Banff Guarantor, Inc. 8.615% (LIBOR 1 Month + 5.50%), 02/27/2026(i)			120		111,000
Boxer Parent Company, Inc. 6.865% (LIBOR 1 Month + 3.75%), 10/02/2025(i)			992		938,041
Endurance International Group Holdings, Inc. 6.185% (LIBOR 1 Month + 3.50%), 02/10/2028(i)			622		522,585
FINThrive Software Intermediate Holdings, Inc. 9.865% (LIBOR 1 Month + 6.75%), 12/17/2029(i)			240		204,401
Loyalty Ventures, Inc. 7.615% (LIBOR 1 Month + 4.50%), 11/03/2027(i)			595		178,472
Playtika Holding Corp. 5.865% (LIBOR 1 Month + 2.75%), 03/13/2028(i)			795		759,848
Presidio Holdings, Inc.
6.310% (LIBOR 3 Month + 3.50%), 01/22/2027(d)(i)			104		100,355
6.620% (LIBOR 1 Month + 3.50%), 01/22/2027(d)(i)			5		4,450
Veritas US, Inc. 8.674% (LIBOR 3 Month + 5.00%), 09/01/2025(i)			96		75,903
					3,154,744
					20,672,189

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    39

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Financial Institutions – 0.5%
Finance – 0.0%
Orbit Private Holdings I Ltd. 6.750% (LIBOR 3 Month + 4.50%), 12/11/2028(d)(i)	U.S.$		109	$	105,763
Insurance – 0.5%
Cross Financial Corp. 7.125% (LIBOR 1 Month + 4.00%), 09/15/2027(i)			414		400,611
Hub International Limited 5.982% (LIBOR 3 Month + 3.25%), 04/25/2025(i)			708		680,647
Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) 6.865% (LIBOR 1 Month + 3.75%), 09/03/2026(i)			359		341,785
					1,423,043
					1,528,806
Utility – 0.2%
Electric – 0.2%
Granite Generation LLC
6.000% (LIBOR 3 Month + 3.75%), 11/09/2026(i)			93		87,367
6.274% (LIBOR 1 Month + 3.75%), 11/09/2026(i)			467		436,500
					523,867
Total Bank Loans (cost $24,583,777)					22,724,862
EMERGING MARKETS - CORPORATE BONDS – 5.6%
Industrial – 4.9%
Basic – 1.1%
Braskem Idesa SAPI 6.99%, 02/20/2032(a)			486		321,975
Cia de Minas Buenaventura SAA 5.50%, 07/23/2026(a)			719		596,231
Consolidated Energy Finance SA 5.00%, 10/15/2028(a)	EUR		320		242,356
CSN Resources SA 7.625%, 04/17/2026(a)	U.S.$		274		262,749
Eldorado Gold Corp. 6.25%, 09/01/2029(a)			544		413,440
Indika Energy Capital IV Pte Ltd. 8.25%, 10/22/2025(a)			337		310,882

40    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
JSW Steel Ltd. 5.95%, 04/18/2024(a)	U.S.$		338	$	322,367
Sasol Financing USA LLC 5.875%, 03/27/2024			684		658,350
Vedanta Resources Finance II PLC 13.875%, 01/21/2024(a)			200		166,413
Volcan Cia Minera SAA 4.375%, 02/11/2026(a)			127		104,005
					3,398,768
Capital Goods – 0.6%
Cemex SAB de CV 7.375%, 06/05/2027(a)			397		395,015
Embraer Netherlands Finance BV 5.40%, 02/01/2027			588		535,933
6.95%, 01/17/2028(a)			318		298,483
IHS Holding Ltd. 5.625%, 11/29/2026(a)			263		206,093
Usiminas International SARL 5.875%, 07/18/2026(a)			545		505,760
					1,941,284
Communications - Media – 0.0%
RCS & RDS SA 3.25%, 02/05/2028(a)	EUR		200		148,943
Communications - Telecommunications – 0.2%
C&W Senior Financing DAC 6.875%, 09/15/2027(a)	U.S.$		208		169,264
HTA Group Ltd./Mauritius 7.00%, 12/18/2025(a)			424		369,225
					538,489
Consumer Cyclical - Other – 1.0%
Allwyn International AS 3.875%, 02/15/2027(a)	EUR		325		267,554
Melco Resorts Finance Ltd. 5.375%, 12/04/2029(a)	U.S.$		428		257,870
5.625%, 07/17/2027(a)			356		239,477
5.75%, 07/21/2028(a)			428		270,710
MGM China Holdings Ltd. 5.25%, 06/18/2025(a)			275		230,020
5.375%, 05/15/2024(a)			214		186,180
5.875%, 05/15/2026(a)			216		175,500
Studio City Co., Ltd. 7.00%, 02/15/2027(a)			390		327,600
Studio City Finance Ltd. 6.00%, 07/15/2025(a)			912		547,200

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    41

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Wynn Macau Ltd. 5.50%, 01/15/2026(a)	U.S.$		475	$	357,152
5.625%, 08/26/2028(a)			345		231,150
					3,090,413
Consumer Non-Cyclical – 0.9%
BRF GmbH 4.35%, 09/29/2026(a)			285		252,902
BRF SA 4.875%, 01/24/2030(a)			285		223,689
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL 5.25%, 04/27/2029(a)			58		49,880
Natura & Co. Luxembourg Holdings SARL 6.00%, 04/19/2029(a)			274		223,379
Natura Cosmeticos SA 4.125%, 05/03/2028(a)			333		258,908
Teva Pharmaceutical Finance Netherlands II BV 3.75%, 05/09/2027	EUR		482		397,186
4.50%, 03/01/2025			330		304,476
Teva Pharmaceutical Finance Netherlands III BV 3.15%, 10/01/2026	U.S.$		490		399,289
4.75%, 05/09/2027			372		314,316
5.125%, 05/09/2029			372		304,024
Tonon Luxembourg SA 6.50% (0.50% Cash and 6.00% PIK), 10/31/2024(c)(e)(f)(h)(j)			102		10
Ulker Biskuvi Sanayi AS 6.95%, 10/30/2025(a)			341		232,903
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018(d)(f)(h)(j)(k)			425		43
					2,961,005
Energy – 0.8%
Greenko Wind Projects Mauritius Ltd. 5.50%, 04/06/2025(a)			200		175,500
Kosmos Energy Ltd. 7.125%, 04/04/2026(a)			379		310,780
7.50%, 03/01/2028(a)			200		157,000
Leviathan Bond Ltd. 5.75%, 06/30/2023(a)			68		66,908
6.125%, 06/30/2025(a)			754		708,057
Medco Bell Pte Ltd. 6.375%, 01/30/2027(a)			357		282,476
Medco Platinum Road Pte Ltd. 6.75%, 01/30/2025(a)			345		309,918

42    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
ReNew Power Pvt Ltd. 5.875%, 03/05/2027(a)	U.S.$		200	$	179,100
SierraCol Energy Andina LLC 6.00%, 06/15/2028(a)			578		372,918
					2,562,657
Services – 0.1%
Bidvest Group UK PLC (The) 3.625%, 09/23/2026(a)			377		319,342
Technology – 0.2%
CA Magnum Holdings 5.375%, 10/31/2026(a)			741		618,735
					15,579,636
Financial Institutions – 0.4%
Banking – 0.2%
Akbank TAS 6.80%, 02/06/2026(a)			347		308,570
Bank Tabungan Negara Persero TBK PT 4.20%, 01/23/2025(a)			452		414,760
					723,330
Brokerage – 0.1%
Banco BTG Pactual SA/Cayman Islands 4.50%, 01/10/2025(a)			355		335,763
REITs – 0.1%
China Aoyuan Group Ltd. 5.88%, 03/01/2027(a)(e)(f)			200		12,500
China SCE Group Holdings Ltd. 6.00%, 02/04/2026(a)			228		33,174
Kaisa Group Holdings Ltd. 9.95%, 07/23/2025(a)(e)(f)			200		21,100
Powerlong Real Estate Holdings Ltd. 4.90%, 05/13/2026(a)			200		25,000
Sunac China Holdings Ltd. 5.95%, 04/26/2024(a)(e)(f)			200		26,000
6.50%, 01/26/2026(a)(e)(f)			254		33,020
Times China Holdings Ltd. 5.55%, 06/04/2024(a)			200		31,000
6.75%, 07/08/2025(a)			230		31,050
Yango Justice International Ltd. 7.50%, 02/17/2025(a)(e)(f)			200		10,000
Zhenro Properties Group Ltd. 7.10%, 09/10/2024(a)(e)(f)			200		8,000
					230,844
					1,289,937

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    43

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Utility – 0.3%
Electric – 0.3%
Cemig Geracao e Transmissao SA 9.25%, 12/05/2024(a)	U.S.$		200	$	205,350
India Clean Energy Holdings 4.50%, 04/18/2027(a)			200		144,000
Inkia Energy Ltd. 5.875%, 11/09/2027(a)			206		189,520
Investment Energy Resources Ltd. 6.25%, 04/26/2029(a)			247		210,074
Light Servicos de Eletricidade SA/Light Energia SA 4.375%, 06/18/2026(a)			209		173,209
Terraform Global Operating LP 6.125%, 03/01/2026(h)			108		101,711
					1,023,864
Total Emerging Markets - Corporate Bonds (cost $23,916,523)					17,893,437
MORTGAGE PASS-THROUGHS – 2.2%
Agency Fixed Rate 30-Year – 2.2%
Uniform Mortgage-Backed Security Series 2022 2.00%, 10/01/2052, TBA			6,684		5,408,171
3.00%, 10/01/2052, TBA			1,783		1,550,044
Total Mortgage Pass-Throughs (cost $7,297,966)					6,958,215
EMERGING MARKETS - SOVEREIGNS – 2.1%
Angola – 0.4%
Angolan Government International Bond 9.125%, 11/26/2049(a)			850		567,269
9.50%, 11/12/2025(a)			710		656,750
					1,224,019
Bahrain – 0.3%
Bahrain Government International Bond 7.00%, 10/12/2028(a)			570		543,032
CBB International Sukuk Programme Co. WLL 6.25%, 11/14/2024(a)			305		308,297
					851,329
Brazil – 0.2%
Brazilian Government International Bond 2.875%, 06/06/2025			547		514,727

44    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Ecuador – 0.1%
Ecuador Government International Bond 1.50%, 07/31/2040(a)	U.S.$		85	$	24,798
2.50%, 07/31/2035(a)			898		295,507
5.50%, 07/31/2030(a)			120		56,187
					376,492
Egypt – 0.1%
Egypt Government International Bond 6.20%, 03/01/2024(a)			380		341,050
Ghana – 0.1%
Ghana Government International Bond 6.375%, 02/11/2027(a)			224		88,480
7.875%, 03/26/2027(a)			801		316,395
					404,875
Ivory Coast – 0.2%
Ivory Coast Government International Bond 6.375%, 03/03/2028(a)			760		673,930
Lebanon – 0.0%
Lebanon Government International Bond 6.10%, 10/04/2022(a)(e)(f)			210		12,246
6.60%, 11/27/2026(a)(e)(f)			51		2,894
6.85%, 03/23/2027(a)(e)(f)			11		621
					15,761
Nigeria – 0.1%
Nigeria Government International Bond 7.625%, 11/28/2047(a)			639		354,645
Oman – 0.1%
Oman Government International Bond 4.875%, 02/01/2025(a)			326		314,590
Pakistan – 0.0%
Pakistan Government International Bond 6.00%, 04/08/2026(a)			343		130,378
Senegal – 0.2%
Senegal Government International Bond 4.75%, 03/13/2028(a)	EUR		499		397,349
6.75%, 03/13/2048(a)	U.S.$		483		297,739
					695,088
South Africa – 0.2%
Republic of South Africa Government International Bond 4.30%, 10/12/2028			208		172,614

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    45

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
4.85%, 09/27/2027	U.S.$		540	$	480,870
					653,484
Ukraine – 0.1%
Ukraine Government International Bond 7.75%, 09/01/2025(a)			338		78,585
7.75%, 09/01/2026(a)			384		76,800
					155,385
Total Emerging Markets - Sovereigns (cost $10,002,651)					6,705,753
COLLATERALIZED LOAN OBLIGATIONS – 2.1%
CLO - Floating Rate – 2.1%
Ares XXXIV CLO Ltd. Series 2015-2A, Class CR 4.74% (LIBOR 3 Month + 2.00%), 04/17/2033(a)(b)			644		587,167
Balboa Bay Loan Funding Ltd. Series 2020-1A, Class DR 5.86% (LIBOR 3 Month + 3.15%), 01/20/2032(a)(b)			250		218,593
Crown Point CLO 11 Ltd. Series 2021-11A, Class D 6.34% (LIBOR 3 Month + 3.60%), 01/17/2034(a)(b)			250		224,291
Dryden 78 CLO Ltd. Series 2020-78A, Class C 4.69% (LIBOR 3 Month + 1.95%), 04/17/2033(a)(b)			250		228,787
Series 2020-78A, Class D 5.74% (LIBOR 3 Month + 3.00%), 04/17/2033(a)(b)			443		391,923
Dryden 98 CLO Ltd. Series 2022-98A, Class E 7.304% (SOFR + 6.40%), 04/20/2035(a)(b)			250		204,875
Elevation CLO Ltd. Series 2020-11A, Class C 4.712% (LIBOR 3 Month + 2.20%), 04/15/2033(a)(b)			250		222,140
Series 2020-11A, Class D1 6.362% (LIBOR 3 Month + 3.85%), 04/15/2033(a)(b)			282		242,567
Elmwood CLO VII Ltd. Series 2020-4A, Class D 6.34% (LIBOR 3 Month + 3.60%), 01/17/2034(a)(b)			300		276,941

46    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Flatiron CLO 21 Ltd. Series 2021-1A, Class D 5.638% (LIBOR 3 Month + 2.90%), 07/19/2034(a)(b)	U.S.$		375	$	333,802
GoldenTree Loan Opportunities IX Ltd. Series 2014-9A, Class DR2 5.806% (LIBOR 3 Month + 3.00%), 10/29/2029(a)(b)			520		474,960
Greywolf CLO VI Ltd. Series 2018-1A, Class A1 3.796% (LIBOR 3 Month + 1.03%), 04/26/2031(a)(b)			550		536,258
Magnetite XXV Ltd. Series 2020-25A, Class D 6.083% (LIBOR 3 Month + 3.30%), 01/25/2032(a)(b)			250		227,086
Octagon Investment Partners 29 Ltd. Series 2016-1A, Class DR 5.883% (LIBOR 3 Month + 3.10%), 01/24/2033(a)(b)			521		462,378
Palmer Square CLO Ltd. Series 2021-3A, Class D 5.462% (LIBOR 3 Month + 2.95%), 01/15/2035(a)(b)			500		441,527
Rad CLO 7 Ltd. Series 2020-7A, Class C 4.74% (LIBOR 3 Month + 2.00%), 04/17/2033(a)(b)			250		229,870
Regatta XIX Funding Ltd. Series 2022-1A, Class D 4.379% (SOFR + 3.30%), 04/20/2035(a)(b)			377		322,338
Regatta XX Funding Ltd. Series 2021-2A, Class D 5.612% (LIBOR 3 Month + 3.10%), 10/15/2034(a)(b)			250		222,257
Rockford Tower CLO Ltd. Series 2021-2A, Class D 5.96% (LIBOR 3 Month + 3.25%), 07/20/2034(a)(b)			250		214,602
Sound Point CLO XIX Ltd. Series 2018-1A, Class A 3.512% (LIBOR 3 Month + 1.00%), 04/15/2031(a)(b)			550		535,478
Total Collateralized Loan Obligations (cost $7,312,224)					6,597,840

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    47

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
COLLATERALIZED MORTGAGE OBLIGATIONS – 2.1%
Risk Share Floating Rate – 2.1%
Bellemeade Re Ltd. Series 2019-1A, Class M2 5.784% (LIBOR 1 Month + 2.70%), 03/25/2029(a)(b)	U.S.$		185	$	183,940
Series 2019-2A, Class M1C 5.084% (LIBOR 1 Month + 2.00%), 04/25/2029(a)(b)			342		339,084
Series 2019-3A, Class M1C 5.034% (LIBOR 1 Month + 1.95%), 07/25/2029(a)(b)			853		842,746
Series 2019-4A, Class M1C 5.584% (LIBOR 1 Month + 2.50%), 10/25/2029(a)(b)			465		463,629
Series 2019-4A, Class M2 5.934% (LIBOR 1 Month + 2.85%), 10/25/2029(a)(b)			884		838,728
Connecticut Avenue Securities Trust
Series 2018-R07, Class 1M2 5.484% (LIBOR 1 Month + 2.40%), 04/25/2031(a)(b)			67		67,014
Series 2019-R01, Class 2M2 5.534% (LIBOR 1 Month + 2.45%), 07/25/2031(a)(b)			66		65,931
Series 2019-R02, Class 1M2 5.384% (LIBOR 1 Month + 2.30%), 08/25/2031(a)(b)			14		14,227
Series 2019-R03, Class 1M2 5.234% (LIBOR 1 Month + 2.15%), 09/25/2031(a)(b)			4		4,292
Series 2019-R06, Class 2M2 5.184% (LIBOR 1 Month + 2.10%), 09/25/2039(a)(b)			18		18,464
Series 2019-R07, Class 1M2 5.184% (LIBOR 1 Month + 2.10%), 10/25/2039(a)(b)			80		80,032
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2015-DNA1, Class M3 6.384% (LIBOR 1 Month + 3.30%), 10/25/2027(b)			47		47,170
Series 2019-DNA3, Class M2 5.134% (LIBOR 1 Month + 2.05%), 07/25/2049(a)(b)			63		62,283

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PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Series 2020-DNA1, Class M2 4.784% (LIBOR 1 Month + 1.70%), 01/25/2050(a)(b)	U.S.$		382	$	378,334
Series 2020-HQA2, Class M2 6.184% (LIBOR 1 Month + 3.10%), 03/25/2050(a)(b)			37		36,543
Federal National Mortgage Association Connecticut Avenue Securities Series 2014-C04, Class 1M2 7.984% (LIBOR 1 Month + 4.90%), 11/25/2024(b)			40		41,385
Series 2015-C03, Class 1M2 8.084% (LIBOR 1 Month + 5.00%), 07/25/2025(b)			138		140,861
Series 2015-C04, Class 1M2 8.784% (LIBOR 1 Month + 5.70%), 04/25/2028(b)			56		58,210
Series 2015-C04, Class 2M2 8.634% (LIBOR 1 Month + 5.55%), 04/25/2028(b)			69		70,617
Series 2016-C01, Class 1M2 9.834% (LIBOR 1 Month + 6.75%), 08/25/2028(b)			128		135,163
Series 2016-C01, Class 2M2 10.034% (LIBOR 1 Month + 6.95%), 08/25/2028(b)			51		52,665
Series 2016-C03, Class 1M2 8.384% (LIBOR 1 Month + 5.30%), 10/25/2028(b)			95		97,279
Series 2017-C02, Class 2B1 8.584% (LIBOR 1 Month + 5.50%), 09/25/2029(b)			415		449,631
Series 2017-C07, Class 2M2 5.584% (LIBOR 1 Month + 2.50%), 05/25/2030(b)			8		8,155
Home Re Ltd. Series 2020-1, Class M2 8.334% (LIBOR 1 Month + 5.25%), 10/25/2030(a)(b)			440		446,896
Oaktown Re III Ltd. Series 2019-1A, Class M2 5.634% (LIBOR 1 Month + 2.55%), 07/25/2029(a)(b)			270		266,022
PMT Credit Risk Transfer Trust Series 2019-2R, Class A 5.863% (LIBOR 1 Month + 2.75%), 05/27/2023(a)(b)			109		104,702

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    49

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
Series 2020-1R, Class A 5.463% (LIBOR 1 Month + 2.35%), 02/27/2023(b)(h)	U.S.$		123	$	116,379
Radnor Re Ltd. Series 2019-1, Class M1B 5.034% (LIBOR 1 Month + 1.95%), 02/25/2029(a)(b)			185		183,203
Series 2020-1, Class M1B 4.534% (LIBOR 1 Month + 1.45%), 01/25/2030(a)(b)			962		950,999
Total Collateralized Mortgage Obligations (cost $6,627,322)					6,564,584
QUASI-SOVEREIGNS – 0.9%
Quasi-Sovereign Bonds – 0.9%
Chile – 0.1%
Corp. Nacional del Cobre de Chile 3.75%, 01/15/2031(a)			200		170,300
Indonesia – 0.1%
Indonesia Asahan Aluminium Persero PT 5.45%, 05/15/2030(a)			371		328,868
Malaysia – 0.1%
Petronas Capital Ltd. 3.50%, 04/21/2030(a)			221		199,536
Mexico – 0.4%
Comision Federal de Electricidad 4.688%, 05/15/2029(a)			381		317,492
Petroleos Mexicanos 6.49%, 01/23/2027			1,127		938,904
6.75%, 09/21/2047			191		106,005
6.95%, 01/28/2060			58		31,895
					1,394,296
Oman – 0.2%
Lamar Funding Ltd. 3.958%, 05/07/2025(a)			631		584,779
Ukraine – 0.0%
State Agency of Roads of Ukraine 6.25%, 06/24/2030(h)			653		114,193
Total Quasi-Sovereigns (cost $3,810,070)					2,791,972

50    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.6%
Non-Agency Fixed Rate CMBS – 0.3%
CD Mortgage Trust Series 2016-CD1, Class XA 1.503%, 08/10/2049(l)	U.S.$		3,816	$	145,798
Citigroup Commercial Mortgage Trust Series 2017-C4, Class XA 1.224%, 10/12/2050(l)			2,926		101,330
Commercial Mortgage Trust Series 2012-CR3, Class D 4.894%, 10/15/2045(a)			100		77,987
GS Mortgage Securities Trust Series 2011-GC5, Class C 5.302%, 08/10/2044(a)			210		173,825
Series 2011-GC5, Class D 5.302%, 08/10/2044(a)			236		100,186
JPMBB Commercial Mortgage Securities Trust Series 2014-C24, Class C 4.53%, 11/15/2047			225		192,830
UBS Commercial Mortgage Trust Series 2012-C1, Class D 6.66%, 05/10/2045(a)			20		17,826
Wells Fargo Commercial Mortgage Trust Series 2016-LC24, Class XA 1.753%, 10/15/2049(l)			2,256		109,327
WF-RBS Commercial Mortgage Trust Series 2011-C4, Class E 4.987%, 06/15/2044(a)			25		19,741
					938,850
Non-Agency Floating Rate CMBS – 0.3%
BFLD Trust Series 2019-DPLO, Class E 5.058% (LIBOR 1 Month + 2.24%), 10/15/2034(a)(b)			160		150,789
Series 2021-FPM, Class A 4.418% (LIBOR 1 Month + 1.60%), 06/15/2038(a)(b)			690		665,413
					816,202
Total Commercial Mortgage-Backed Securities (cost $2,036,529)					1,755,052

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    51

PORTFOLIO OF INVESTMENTS (continued)

		Principal Amount (000)		U.S. $ Value
GOVERNMENTS – SOVEREIGN BONDS – 0.2%
Colombia – 0.1%
Colombia Government International Bond 8.125%, 05/21/2024	U.S.$		370	$	377,238
Saudi Arabia – 0.1%
Saudi Government International Bond 2.90%, 10/22/2025(a)			404		381,275
Total Governments - Sovereign Bonds (cost $800,857)					758,513
		Shares
COMMON STOCKS – 0.2%
Energy – 0.1%
Oil, Gas & Consumable Fuels – 0.1%
Civitas Resources, Inc.			3,453		198,168
Denbury, Inc.(f)			1,216		104,892
Nordic Aviation Capital AS(d)(f)			6,250		125,000
					428,060
Consumer Discretionary – 0.1%
Leisure Products – 0.1%
Carlson Travel, Inc.(f)			24,836		206,958
Total Common Stocks (cost $937,793)					635,018
		Principal Amount (000)
ASSET-BACKED SECURITIES – 0.1%
Other ABS – Fixed Rate – 0.1%
Marlette Funding Trust Series 2018-4A, Class C 4.91%, 12/15/2028(a)	U.S.$		150		149,941
Series 2019-2A, Class C 4.11%, 07/16/2029(a)			121		119,954
Total Asset-Backed Securities (cost $273,482)					269,895
		Shares
PREFERRED STOCKS – 0.0%
Industrial – 0.0%
Energy – 0.0%
Gulfport Energy Corp 10.00%(d)(f) (cost $10,176)			14		84,000

52    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

PORTFOLIO OF INVESTMENTS (continued)

Company		Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 4.4%
Investment Companies – 3.1%
AB Fixed Income Shares, Inc. – Government Money Market Portfolio – Class AB, 2.58%(m)(n)(o) (cost $9,965,243)			9,965,243	$	9,965,243
		Principal Amount (000)
U.S. Treasury Bills – 1.3%
U.S. Treasury Bill Zero Coupon, 10/13/2022 (cost $4,188,798)	U.S.$		4,192		4,188,779
Total Short-Term Investments (cost $14,154,041)					14,154,022
Total Investments – 100.8% (cost $371,537,944)					320,304,011
Other assets less liabilities – (0.8)%					(2,387,626	)
Net Assets – 100.0%				$	317,916,385

FUTURES (see Note D)

Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
U.S. T-Note 5 Yr (CBT) Futures		11		December 2022	$	1,182,586	$	(41,069	)
Sold Contracts
Euro-BOBL Futures		24		December 2022		2,816,664		82,537
U.S. T-Note 10 Yr (CBT) Futures		117		December 2022		13,111,313		616,510
							$	657,978

FORWARD CURRENCY EXCHANGE CONTRACTS (see Note D)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA	EUR	42,551	USD	41,104		12/08/2022	$	(791,044	)
Bank of America, NA	USD	523	EUR	536		12/08/2022		4,354
Morgan Stanley Capital Services, Inc.	GBP	2,426	USD	2,886		11/17/2022		175,067
State Street Bank & Trust Co.	EUR	171	USD	167		11/09/2022		(1,335	)
State Street Bank & Trust Co.	USD	478	EUR	494		11/09/2022		7,754
State Street Bank & Trust Co.	USD	347	EUR	354		12/08/2022		2,144
							$	(603,060	)

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PORTFOLIO OF INVESTMENTS (continued)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS (see Note D)

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at September 30, 2022			Notional Amount (000)		Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
CDX-NAHY Series 39, 5 Year Index, 12/20/2027*		5.00	%		Quarterly		6.06	%		USD    16,580	$	(656,379	)	$	(634,959	)	$	(21,420	)

* Termination date

CREDIT DEFAULT SWAPS (see Note D)

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at September 30, 2022			Notional Amount (000)		Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
Buy Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BB Series 6, 05/11/2063*		(5.00	)%		Monthly		7.50	%	USD	1,472	$	589,214		$	661,218		$	(72,004	)
Credit Suisse International
CDX-CMBX.NA.BB Series 6, 05/11/2063*		(5.00	)		Monthly		7.50		USD	410		164,263			47,531			116,732
Goldman Sachs International
CDX-CMBX.NA.BB Series 6, 05/11/2063*		(5.00	)		Monthly		7.50		USD	904		361,985			106,025			255,960
Sale Contracts
Deutsche Bank AG
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		7.50		USD	226		(50,710	)		(14,045	)		(36,665	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		7.50		USD	755		(169,355	)		(48,154	)		(121,201	)
Goldman Sachs International
Avis Budget Group, Inc., 5.250%, 03/15/2025, 12/20/2023*		5.00			Quarterly		2.01		USD	200		7,374			4,910			2,464
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	635		(254,302	)		(75,083	)		(179,219	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	636		(254,606	)		(73,210	)		(181,396	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	780		(312,180	)		(85,459	)		(226,721	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		7.50		USD	33		(7,405	)		(2,049	)		(5,356	)
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00			Monthly		7.50		USD	425		(95,302	)		(27,874	)		(67,428	)
JPMorgan Securities, LLC
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	64		(25,552	)		(11,753	)		(13,799	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	96		(38,328	)		(17,519	)		(20,809	)
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00			Monthly		7.50		USD	597		(239,093	)		(107,026	)		(132,067	)
											$	(323,997	)	$	357,512		$	(681,509	)

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PORTFOLIO OF INVESTMENTS (continued)

* Termination date

(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 September 30, 2022, the aggregate market value of these securities amounted to $192,262,751 or 60.5% of net assets.

(b) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at September 30, 2022.

(c) Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at September 30, 2022.

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

(e) Defaulted.

(f) Non-income producing security.

(g) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(h) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.17% of net assets as of September 30, 2022, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date		Cost		Market Value		Percentage of Net Assets
ABN AMRO Bank NV 7.75%, 05/15/2023		03/21/2018	$	203,992	$	202,292		0.06	%
PMT Credit Risk Transfer Trust Series 2020-1R, Class A 5.463%, 02/27/2023		02/11/2020		122,670		116,379		0.04	%
State Agency of Roads of Ukraine 6.25%, 06/24/2030		06/17/2021		653,000		114,193		0.04	%
Terraform Global Operating LP 6.125%, 03/01/2026		01/10/2019		108,698		101,711		0.03	%
Tonon Luxembourg SA 6.50%, 10/31/2024		07/24/2015		210,163		10		0.00	%
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018		03/15/2013		425,000		43		0.00	%

(i) The stated coupon rate represents the greater of the LIBOR or the LIBOR floor rate plus a spread at September 30, 2022.

(j) Fair valued by the Adviser.

(k) Defaulted matured security.

(l) IO – Interest Only.

(m) Affiliated investments.

(n) 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.

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

Currency Abbreviations:

EUR – Euro

GBP – Great British Pound

USD – United States Dollar

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PORTFOLIO OF INVESTMENTS (continued)

Glossary:

ABS – Asset-Backed Securities

BOBL – Bundesobligationen

CBT – Chicago Board of Trade

CDX-CMBX.NA – North American Commercial Mortgage-Backed Index

CDX-NAHY – North American High Yield Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

EURIBOR – Euro Interbank Offered Rate

LIBOR – London Interbank Offered Rate

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

TBA – To Be Announced

See notes to financial statements.

56    ^|    AB LIMITED DURATION  HIGH INCOME PORTFOLIO abfunds.com

STATEMENT OF ASSETS & LIABILITIES

September 30, 2022

Assets
Investments in securities, at value
Unaffiliated issuers (cost $361,572,701)	$	310,338,768
Affiliated issuers (cost $9,965,243)		9,965,243
Cash		474,734
Cash collateral due from broker		3,235,662
Foreign currencies, at value (cost $75,778)		75,699
Unaffiliated interest and dividends receivable		4,092,622
Receivable for capital stock sold		1,246,550
Market value on credit default swaps (net premiums paid $819,684)		1,122,836
Unrealized appreciation on forward currency exchange contracts		189,319
Receivable for investment securities sold		108,947
Receivable for variation margin on futures		12,637
Affiliated dividends receivable		9,458
Total assets		330,872,475
Liabilities
Payable for investment securities purchased		8,671,951
Market value on credit default swaps (net premiums paid $462,172)		1,446,833
Cash collateral due to broker		988,000
Unrealized depreciation on forward currency exchange contracts		792,379
Payable for capital stock redeemed		402,477
Dividends payable		224,556
Advisory fee payable		121,538
Foreign capital gains tax payable		23,928
Administrative fee payable		22,776
Distribution fee payable		11,897
Payable for variation margin on centrally cleared swaps		10,879
Transfer Agent fee payable		4,296
Directors’ fees payable		63
Accrued expenses		234,517
Total liabilities		12,956,090
Net Assets	$	317,916,385
Composition of Net Assets
Capital stock, at par	$	36,403
Additional paid-in capital		382,133,533
Accumulated loss		(64,253,551	)
Net Assets	$	317,916,385

Net Asset Value Per Share—30 billion shares of capital stock authorized, $.001 par value

Class	Net Assets		Shares Outstanding		Net Asset Value
A	$	27,200,762		3,110,076	$	8.75	*
C	$	7,334,929		839,204	$	8.74
Advisor	$	283,354,888		32,451,015	$	8.73
R	$	8,778		1,004	$	8.74
K	$	8,779		1,004	$	8.74
I	$	8,249		943	$	8.75

* The maximum offering price per share for Class A shares was $9.14 which reflects a sales charge of 4.25%.

See notes to financial statements.

abfunds.com AB LIMITED DURATION HIGH INCOME PORTFOLIO    ^|    57

STATEMENT OF OPERATIONS

Year Ended September 30, 2022

Investment Income
Interest	$	16,050,727
Dividends
Affiliated issuers		30,255
Unaffiliated issuers		18,821
Other income		11,773		$	16,111,576
Expenses
Advisory fee (see Note B)		1,897,929
Distribution fee—Class A		75,653
Distribution fee—Class C		86,114
Distribution fee—Class R		49
Distribution fee—Class K		24
Transfer agency—Class A		13,531
Transfer agency—Class C		3,851
Transfer agency—Advisor Class		137,359
Transfer agency—Class R		6
Transfer agency—Class K		5
Transfer agency—Class I		2
Audit and tax		140,996
Custody and accounting		114,473
Administrative		88,208
Registration fees		75,272
Printing		39,986
Legal		35,220
Directors’ fees		22,141
Miscellaneous		20,864
Total expenses		2,751,683
Less: expenses waived and reimbursed by the Distributor (see Note C)		(73	)
Less: expenses waived and reimbursed by the Adviser (see Note B)		(180,870	)
Net expenses					2,570,740
Net investment income					13,540,836
Realized and Unrealized Gain (Loss) on Investment and Foreign Currency Transactions
Net realized gain (loss) on:
Investment transactions(a)					(3,298,255	)
Forward currency exchange contracts					304,436
Futures					(1,621,117	)
Swaps					(219,280	)
Foreign currency transactions					8,567,782
Net change in unrealized appreciation/depreciation of:
Investments(b)					(59,942,560	)
Forward currency exchange contracts					(1,230,988	)
Futures					874,848
Swaps					128,334
Foreign currency denominated assets and liabilities					(55,765	)
Net loss on investment and foreign currency transactions					(56,492,565	)
Net Decrease in Net Assets from Operations				$	(42,951,729	)

(a) Net of foreign realized capital gains taxes of $10,721.

(b) Net of decrease in accrued foreign capital gains taxes on unrealized gains of $14,855.

See notes to financial statements.

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STATEMENT OF CHANGES IN NET ASSETS

	Year Ended September 30, 2022			Year Ended September 30, 2021
Increase (Decrease) in Net Assets from Operations
Net investment income	$	13,540,836		$	12,251,104
Net realized gain on investment and foreign currency transactions		3,733,566			1,503,617
Net change in unrealized appreciation/depreciation of investments and foreign currency denominated assets and liabilities		(60,226,131	)		11,700,029
Net increase (decrease) in net assets from operations		(42,951,729	)		25,454,750
Distributions to Shareholders
Class A		(1,232,008	)		(1,047,641	)
Class C		(285,616	)		(332,663	)
Advisor Class		(13,279,989	)		(11,989,769	)
Class R		(415	)		(374	)
Class K		(416	)		(400	)
Class I		(396	)		(399	)
Capital Stock Transactions
Net increase (decrease)		(289,283	)		72,275,585
Total increase (decrease)		(58,039,852	)		84,359,089
Net Assets
Beginning of period		375,956,237			291,597,148
End of period	$	317,916,385		$	375,956,237

See notes to financial statements.

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NOTES TO FINANCIAL STATEMENTS

September 30, 2022

NOTE A

Significant Accounting Policies

AB Bond Fund, Inc. (the “Company”) is registered under the Investment Company Act of 1940 as an open-end management investment company. The Company, which is a Maryland corporation, operates as a series company comprised of 10 portfolios currently in operation. Each portfolio is considered to be a separate entity for financial reporting and tax purposes. This report relates only to the AB Limited Duration High Income Portfolio (the “Fund”), a diversified portfolio. The Fund has authorized the issuance of Class A, Class B, Class C, Advisor Class, Class R, Class K, Class I, Class T, Class 1 and Class 2 shares. Class B, Class T, Class 1 and Class 2 shares have not been issued. Class A shares are sold with a front-end sales charge of up to 4.25% for purchases not exceeding $1,000,000. With respect to purchases of $1,000,000 or more, Class A shares redeemed within one year of purchase may be subject to a contingent deferred sales charge of 1%. Class C shares are subject to a contingent deferred sales charge of 1% on redemptions made within the first year after purchase, and 0% after the first year of purchase. Effective May 31, 2021, Class C shares automatically convert to Class A shares eight years after the end of the calendar month of purchase. Prior to May 31, 2021, Class C shares automatically converted to Class A shares 10 years after the end of the calendar month of purchase. Advisor Class, Class R, Class K, Class I, Class 1 and Class 2 shares are sold without an initial or contingent deferred sales charge. Advisor Class, Class I and Class 2 shares are not subject to ongoing distribution expenses. All ten classes of shares have identical voting, dividend, liquidation and other rights, except that the classes bear different distribution and transfer agency expenses. Each class has exclusive voting rights with respect to its distribution plan. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Fund.

1. Security Valuation

Portfolio securities are valued at market value determined on the basis of market quotations or, if market quotations are not readily available or are unreliable, at “fair value” as determined in accordance with procedures approved by and under the oversight of the Company’s Board of Directors (the “Board”). Pursuant to these procedures, AllianceBernstein L.P. (the

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“Adviser”) serves as the Fund’s valuation designee pursuant to Rule 2a-5 of the 1940 Act. In this capacity, the Adviser is responsible, among other things, for making all fair value determinations relating to the Fund’s portfolio investments, subject to the Board’s oversight.

In general, the market values of securities which are readily available and deemed reliable are determined as follows: securities listed on a national securities exchange (other than securities listed on the NASDAQ Stock Market, Inc. (“NASDAQ”)) or on a foreign securities exchange are valued at the last sale price at the close of the exchange or foreign securities exchange. If there has been no sale on such day, the securities are valued at the last traded price from the previous day. Securities listed on more than one exchange are valued by reference to the principal exchange on which the securities are traded; securities listed only on NASDAQ are valued in accordance with the NASDAQ Official Closing Price; listed or over the counter (“OTC”) market put or call options are valued at the mid level between the current bid and ask prices. If either a current bid or current ask price is unavailable, the Adviser will have discretion to determine the best valuation (e.g., last trade price in the case of listed options); open futures are valued using the closing settlement price or, in the absence of such a price, the most recent quoted bid price. If there are no quotations available for the day of valuation, the last available closing settlement price is used; U.S. Government securities and any other debt instruments having 60 days or less remaining until maturity are generally valued at market by an independent pricing vendor, if a market price is available. If a market price is not available, the securities are valued at amortized cost. This methodology is commonly used for short term securities that have an original maturity of 60 days or less, as well as short term securities that had an original term to maturity that exceeded 60 days. In instances when amortized cost is utilized, the Valuation Committee (the “Committee”) must reasonably conclude that the utilization of amortized cost is approximately the same as the fair value of the security. Factors the Committee will consider include, but are not limited to, an impairment of the creditworthiness of the issuer or material changes in interest rates. Fixed-income securities, including mortgage-backed and asset-backed securities, may be valued on the basis of prices provided by a pricing service or at a price obtained from one or more of the major broker-dealers. In cases where broker-dealer quotes are obtained, the Adviser may establish procedures whereby changes in market yields or spreads are used to adjust, on a daily basis, a recently obtained quoted price on a security. Swaps and other derivatives are valued daily, primarily using independent pricing services, independent pricing models using market inputs, as well as third party broker-dealers or counterparties. Open-end mutual funds are valued at the closing net asset value per share, while exchange traded funds are valued at the closing market price per share.

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Securities for which market quotations are not readily available (including restricted securities) or are deemed unreliable are valued at fair value as deemed appropriate by the Adviser. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, analysis of the issuer’s financial statements or other available documents. In addition, the Fund may use fair value pricing for securities primarily traded in non-U.S. markets because most foreign markets close well before the Fund values its securities at 4:00 p.m., Eastern Time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund generally values many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available.

2. Fair Value Measurements

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 as described in Note A.1 above). 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

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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 are 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, 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.

Valuations of mortgage-backed or other asset-backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset-backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as a significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

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

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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.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of September 30, 2022:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Corporates - Non-Investment Grade	$	– 0	–	$	144,337,224		$	294,068		$	144,631,292
Corporates - Investment Grade		– 0	–		58,471,712			– 0	–		58,471,712
Governments - Treasuries		– 0	–		29,307,844			– 0	–		29,307,844
Bank Loans		– 0	–		21,267,530			1,457,332			22,724,862
Emerging Markets - Corporate Bonds		– 0	–		17,893,394			43			17,893,437
Mortgage Pass-Throughs		– 0	–		6,958,215			– 0	–		6,958,215
Emerging Markets - Sovereigns		– 0	–		6,705,753			– 0	–		6,705,753
Collateralized Loan Obligations		– 0	–		6,597,840			– 0	–		6,597,840
Collateralized Mortgage Obligations		– 0	–		6,564,584			– 0	–		6,564,584
Quasi-Sovereigns		– 0	–		2,791,972			– 0	–		2,791,972
Commercial Mortgage-Backed Securities		– 0	–		1,755,052			– 0	–		1,755,052
Governments - Sovereign Bonds		– 0	–		758,513			– 0	–		758,513
Common Stocks		303,060			206,958			125,000			635,018
Asset-Backed Securities		– 0	–		269,895			– 0	–		269,895
Preferred Stocks		– 0	–		– 0	–		84,000			84,000
Short-Term Investments:
Investment Companies		9,965,243			– 0	–		– 0	–		9,965,243
U.S. Treasury Bills		– 0	–		4,188,779			– 0	–		4,188,779
Total Investments in Securities		10,268,303			308,075,265			1,960,443			320,304,011

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Investments in Securities:	Level 1			Level 2			Level 3			Total
Other Financial Instruments(a):
Assets:
Futures	$	699,047		$	– 0	–	$	– 0	–	$	699,047	(b)
Forward Currency Exchange Contracts		– 0	–		189,319			– 0	–		189,319
Credit Default Swaps		– 0	–		1,122,836			– 0	–		1,122,836
Liabilities:
Futures		(41,069	)		– 0	–		– 0	–		(41,069	)(b)
Forward Currency Exchange Contracts		– 0	–		(792,379	)		– 0	–		(792,379	)
Centrally Cleared Credit Default Swaps		– 0	–		(656,379	)		– 0	–		(656,379	)(b)
Credit Default Swaps		– 0	–		(1,446,833	)		– 0	–		(1,446,833	)
Total	$	10,926,281		$	306,491,829		$	1,960,443		$	319,378,553

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

(b) Only variation margin receivable/(payable) at period end is reported within the statement of assets and liabilities. This amount reflects cumulative unrealized appreciation/(depreciation) on futures and centrally cleared swaps as reported in the portfolio of investments. Where applicable, centrally cleared swaps with upfront premiums are presented here at market value.

3. Foreign Currency Translation

Assets and liabilities denominated in foreign currencies and commitments under forward currency exchange contracts are translated into U.S. dollars at the mean of the quoted bid and ask prices of such currencies against the U.S. dollar. Purchases and sales of portfolio securities are translated into U.S. dollars at the rates of exchange prevailing when such securities were acquired or sold. Income and expenses are translated into U.S. dollars at rates of exchange prevailing when accrued.

Net realized gain or loss on foreign currency transactions represents foreign exchange gains and losses from sales and maturities of foreign fixed income investments, holding of foreign currencies, currency gains or losses realized between the trade and settlement dates on foreign investment transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains and losses from valuing foreign currency denominated assets and liabilities at period end exchange rates are reflected as a component of net unrealized appreciation or depreciation of foreign currency denominated assets and liabilities.

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4. Taxes

It is the Fund’s policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its investment company taxable income and net realized gains, if any, to shareholders. Therefore, no provisions for federal income or excise taxes are required. The Fund may be subject to taxes imposed by countries in which it invests. Such taxes are generally based on income and/or capital gains earned or repatriated. Taxes are accrued and applied to net investment income, net realized gains and net unrealized appreciation/depreciation as such income and/or gains are earned.

In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Fund’s tax positions taken or expected to be taken on federal and state income tax returns for all open tax years (the current and the prior three tax years) and has concluded that no provision for income tax is required in the Fund’s financial statements.

5. Investment Income and Investment Transactions

Dividend income is recorded on the ex-dividend date or as soon as the Fund is informed of the dividend. Interest income is accrued daily. Investment transactions are accounted for on the date the securities are purchased or sold. Investment gains or losses are determined on the identified cost basis. Non-cash dividends, if any, are recorded on the ex-dividend date at the fair value of the securities received. The Fund amortizes premiums and accretes discounts as adjustments to interest income. The Fund accounts for distributions received from REIT investments or from regulated investment companies as dividend income, realized gain, or return of capital based on information provided by the REIT or the investment company.

6. Class Allocations

All income earned and expenses incurred by the Fund are borne on a pro-rata basis by each outstanding class of shares, based on the proportionate interest in the Fund represented by the net assets of such class, except for class specific expenses which are allocated to the respective class. Expenses of the Company are charged proportionately to each fund or based on other appropriate methods. Realized and unrealized gains and losses are allocated among the various share classes based on respective net assets.

7. Dividends and Distributions

Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. Income dividends and capital gains distributions are determined in accordance with federal tax regulations and may differ from

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those determined in accordance with U.S. GAAP. To the extent these differences are permanent, such amounts are reclassified within the capital accounts based on their federal tax basis treatment; temporary differences do not require such reclassification.

NOTE B

Advisory Fee and Other Transactions with Affiliates

Under the terms of the investment advisory agreement, the Fund pays the Adviser an advisory fee at an annual rate of .55% of the first $2.5 billion, .50% of the next $2.5 billion and .45% in excess of $5 billion, of the Fund’s average daily net assets. The fee is accrued daily and paid monthly. The Adviser has agreed to waive its fees and bear certain expenses to the extent necessary to limit total operating expenses (excluding acquired fund fees and expenses other than the advisory fees of any AB mutual funds in which the Fund may invest, interest expense, taxes, extraordinary expenses, and brokerage commissions and other transaction costs), on an annual basis (the “Expense Caps”) to .95%, 1.70%, .70%, 1.20%, .95% and .70% of the daily average net assets for the Class A, Class C, Advisor Class, Class R, Class K and Class I shares, respectively. The Expense Caps may not be terminated before January 31, 2023. For the year ended September 30, 2022, such reimbursements/waivers amounted to $173,132.

Pursuant to the investment advisory agreement, the Fund may reimburse the Adviser for certain legal and accounting services provided to the Fund by the Adviser. For the year ended September 30, 2022, the reimbursement for such services amounted to $88,208.

The Fund compensates AllianceBernstein Investor Services, Inc. (“ABIS”), a wholly-owned subsidiary of the Adviser, under a Transfer Agency Agreement for providing personnel and facilities to perform transfer agency services for the Fund. ABIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. Such compensation retained by ABIS amounted to $50,598 for the year ended September 30, 2022.

AllianceBernstein Investments, Inc. (the “Distributor”), a wholly-owned subsidiary of the Adviser, serves as the distributor of the Fund’s shares. The Distributor has advised the Fund that it has retained front-end sales charges of $1,879 from the sale of Class A shares and received $23,951 and $4,429 in contingent deferred sales charges imposed upon redemptions by shareholders of Class A and Class C shares, respectively, for the year ended September 30, 2022.

The Fund may invest in AB Government Money Market Portfolio (the “Government Money Market Portfolio”) which has a contractual annual

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advisory fee rate of .20% of the portfolio’s average daily net assets and bears its own expenses. The Adviser has contractually agreed to waive .10% of the advisory fee of Government Money Market Portfolio (resulting in a net advisory fee of .10%) until August 31, 2023. In connection with the investment by the Fund in Government Money Market Portfolio, the Adviser has contractually agreed to waive its advisory fee from the Fund in an amount equal to the Fund’s pro rata share of the effective advisory fee of Government Money Market Portfolio, as borne indirectly by the Fund as an acquired fund fee and expense. For the year ended September 30, 2022, such waiver amounted to $7,738.

A summary of the Fund’s transactions in AB mutual funds for the year ended September 30, 2022 is as follows:

Fund	Market Value 9/30/21 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 9/30/22 (000)		Dividend Income (000)
Government Money Market Portfolio	$	27,812	$	151,207	$	169,054	$	9,965	$	30

NOTE C

Distribution Services Agreement

The Fund has adopted a Distribution Services Agreement (the “Agreement”) pursuant to Rule 12b-1 under the Investment Company Act of 1940. Under the Agreement, the Fund pays distribution and servicing fees to the Distributor at an annual rate of up to .30% of the Fund’s average daily net assets attributable to Class A shares, 1% of the Fund’s average daily net assets attributable to Class C shares, .50% of the Fund’s average daily net assets attributable to Class R shares and .25% of the Fund’s average daily net assets attributable to Class K shares. There are no distribution and servicing fees on the Advisor Class and Class I shares. Payments under the Plan in respect of Class A shares are currently limited to an annual rate of .25% of Class A shares’ average daily net assets. As of September 1, 2021, with respect to Class R and Class K shares, payments to the Distributor are voluntarily being limited to 0% and 0% of the average daily net assets attributable to Class R and Class K shares. For the year ended September 30, 2022, such waivers amounted to $49 and $24, respectively. The fees are accrued daily and paid monthly. The Agreement provides that the Distributor will use such payments in their entirety for distribution assistance and promotional activities. Since the commencement of the Fund’s operations, the Distributor has incurred expenses in excess of the distribution costs reimbursed by the Fund in the amounts of $308,461, $0 and $0 for Class C, Class R and Class K shares, respectively. While such costs may be recovered from the Fund in future periods so long as the Agreement is in effect, the rate of the distribution

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and servicing fees payable under the Agreement may not be increased without a shareholder vote. In accordance with the Agreement, there is no provision for recovery of unreimbursed distribution costs incurred by the Distributor beyond the current fiscal year for Class A shares. The Agreement also provides that the Adviser may use its own resources to finance the distribution of the Fund’s shares.

NOTE D

Investment Transactions

Purchases and sales of investment securities (excluding short-term investments) for the year ended September 30, 2022 were as follows:

	Purchases		Sales
Investment securities (excluding U.S. government securities)	$	92,595,090	$	92,279,347
U.S. government securities		139,134,025		115,023,557

The cost of investments for federal income tax purposes, gross unrealized appreciation and unrealized depreciation are as follows:

Cost	$	371,985,631
Gross unrealized appreciation	$	2,344,604
Gross unrealized depreciation		(53,875,951	)
Net unrealized depreciation	$	(51,531,347	)

1. Derivative Financial Instruments

The Fund may use derivatives in an effort to earn income and enhance returns, to replace more traditional direct investments, to obtain exposure to otherwise inaccessible markets (collectively, “investment purposes”), or to hedge or adjust the risk profile of its portfolio.

The principal types of derivatives utilized by the Fund, as well as the methods in which they may be used are:

• Futures

The Fund may buy or sell futures for investment purposes or for the purpose of hedging its portfolio against adverse effects of potential movements in the market. The Fund bears the market risk that arises from changes in the value of these instruments and the imperfect correlation between movements in the price of the futures and movements in the price of the assets, reference rates or indices which they are designed to track. Among other things, the Fund may purchase or sell futures for foreign currencies or options thereon for non-hedging purposes as a means of making direct investment in foreign currencies, as described below under “Currency Transactions”.

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At the time the Fund enters into futures, the Fund deposits and maintains as collateral an initial margin with the broker, as required by the exchange on which the transaction is effected. Such amount is shown as cash collateral due from broker on the statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by the Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures is generally less than privately negotiated futures, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, has robust risk mitigation standards, including the requirement to provide initial and variation margin. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the time it was closed.

Use of long futures subjects the Fund to risk of loss in excess of the amounts shown on the statement of assets and liabilities, up to the notional value of the futures. Use of short futures subjects the Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of futures can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.

During the year ended September 30, 2022, the Fund held futures for hedging and non-hedging purposes.

• Forward Currency Exchange Contracts

The Fund may enter into forward currency exchange contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to hedge certain firm purchase and sale commitments denominated in foreign currencies and for non-hedging purposes as a means of making direct investments in foreign currencies, as described below under “Currency Transactions”.

A forward currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The gain or loss arising from the difference between the original contract and the closing of such contract would be included in net realized gain or loss on forward currency exchange contracts. Fluctuations in the value of open forward currency exchange contracts are recorded for financial reporting purposes as unrealized appreciation and/or depreciation by the Fund. Risks may arise from

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the potential inability of a counterparty to meet the terms of a contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

During the year ended September 30, 2022, the Fund held forward currency exchange contracts for hedging and non-hedging purposes.

• Swaps

The Fund may enter into swaps to hedge its exposure to interest rates, credit risk, equity markets or currencies. The Fund may also enter into swaps for non-hedging purposes as a means of gaining market exposures, making direct investments in foreign currencies, as described below under “Currency Transactions” or in order to take a “long” or “short” position with respect to an underlying referenced asset described below under “Total Return Swaps”. A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices or rates for a specified amount of an underlying asset. The payment flows are usually netted against each other, with the difference being paid by one party to the other. In addition, collateral may be pledged or received by the Fund in accordance with the terms of the respective swaps to provide value and recourse to the Fund or its counterparties in the event of default, bankruptcy or insolvency by one of the parties to the swap.

Risks may arise as a result of the failure of the counterparty to the swap to comply with the terms of the swap. The loss incurred by the failure of a counterparty is generally limited to the net interim payment to be received by the Fund, and/or the termination value at the end of the contract. Therefore, the Fund considers the creditworthiness of each counterparty to a swap in evaluating potential counterparty risk. This risk is mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty. Additionally, risks may arise from unanticipated movements in interest rates or in the value of the underlying securities. The Fund accrues for the interim payments on swaps on a daily basis, with the net amount recorded within unrealized appreciation/depreciation of swaps on the statement of assets and liabilities, where applicable. Once the interim payments are settled in cash, the net amount is recorded as realized gain/(loss) on swaps on the statement of operations, in addition to any realized gain/(loss) recorded upon the termination of swaps. Upfront premiums paid or received for swaps are recognized as cost or proceeds on the statement of assets and liabilities and are amortized on a straight line basis over the life of the contract. Amortized upfront premiums are included in net realized gain/(loss) from swaps on the

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statement of operations. Fluctuations in the value of swaps are recorded as a component of net change in unrealized appreciation/depreciation of swaps on the statement of operations.

Certain standardized swaps, including certain interest rate swaps and credit default swaps, are (or soon will be) subject to mandatory central clearing. Cleared swaps are transacted through futures commission merchants (“FCMs”) that are members of central clearinghouses, with the clearinghouse serving as central counterparty, similar to transactions in futures contracts. Centralized clearing will be required for additional categories of swaps on a phased-in basis based on requirements published by the Securities and Exchange Commission and Commodity Futures Trading Commission.

At the time the Fund enters into a centrally cleared swap, the Fund deposits and maintains as collateral an initial margin with the broker, as required by the clearinghouse on which the transaction is effected. Such amount is shown as cash collateral due from broker on the statement of assets and liabilities. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract. Such receipts or payments are known as variation margin and are recorded by the Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for centrally cleared swaps is generally less than non-centrally cleared swaps, since the clearinghouse, which is the issuer or counterparty to each centrally cleared swap, has robust risk mitigation standards, including the requirement to provide initial and variation margin. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the time it was closed.

Credit Default Swaps:

The Fund may enter into credit default swaps, including to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults by corporate and sovereign issuers held by the Fund, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. The Fund may purchase credit protection (“Buy Contract”) or provide credit protection (“Sale Contract”) on the referenced obligation of the credit default swap. During the term of the swap, the Fund receives/(pays) fixed payments from/(to) the respective counterparty, calculated at the agreed upon rate applied to the notional amount. If the Fund is a buyer/(seller) of protection and a credit event occurs, as defined under the terms of the swap, the Fund will either (i) receive from the seller/(pay to the buyer) of protection an amount equal to the notional amount of the swap (the “Maximum

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Payout Amount”) and deliver/(take delivery of) the referenced obligation or (ii) receive/(pay) a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation. In certain circumstances Maximum Payout Amounts may be partially offset by recovery values of the respective referenced obligations, upfront premium received upon entering into the agreement, or net amounts received from settlement of buy protection credit default swaps entered into by the Fund for the same referenced obligations with the same counterparty.

Credit default swaps may involve greater risks than if a Fund had invested in the referenced obligation directly. Credit default swaps are subject to general market risk, liquidity risk, counterparty risk and credit risk. If the Fund is a buyer of protection and no credit event occurs, it will lose the payments it made to its counterparty. If the Fund is a seller of protection and a credit event occurs, the value of the referenced obligation received by the Fund coupled with the periodic payments previously received, may be less than the Maximum Payout Amount it pays to the buyer, resulting in a net loss to the Fund.

Implied credit spreads over U.S. Treasuries of comparable maturity utilized in determining the market value of credit default swaps on issuers as of period end are disclosed in the portfolio of investments. The implied spreads serve as an indicator of the current status of the payment/performance risk and typically reflect the likelihood of default by the issuer of the referenced obligation. The implied credit spread of a particular reference obligation also reflects the cost of buying/selling protection and may reflect upfront payments required to be made to enter into the agreement. Widening credit spreads typically represent a deterioration of the referenced obligation’s credit soundness and greater likelihood of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced obligation.

During the year ended September 30, 2022, the Fund held credit default swaps for hedging and non-hedging purposes.

The Fund typically enters into International Swaps and Derivatives Association, Inc. Master Agreements (“ISDA Master Agreement”) with its OTC derivative contract counterparties in order to, among other things, reduce its credit risk to OTC counterparties. ISDA Master Agreements include provisions for general obligations, representations, collateral and events of default or termination. Under an ISDA Master Agreement, the Fund typically may offset with the OTC counterparty certain derivative financial

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instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment (close-out netting) in the event of default or termination. In the event of a default by an OTC counterparty, the return of collateral with market value in excess of the Fund’s net liability, held by the defaulting party, may be delayed or denied.

The Fund’s ISDA Master Agreements may contain provisions for early termination of OTC derivative transactions in the event the net assets of the Fund decline below specific levels (“net asset contingent features”). If these levels are triggered, the Fund’s OTC counterparty has the right to terminate such transaction and require the Fund to pay or receive a settlement amount in connection with the terminated transaction. If OTC derivatives were held at period end, please refer to netting arrangements by the OTC counterparty table below for additional details.

	Asset Derivatives				Liability Derivatives
Derivative Type	Statement of Assets and Liabilities Location	Fair Value			Statement of Assets and Liabilities Location	Fair Value
Interest rate contracts	Receivable/Payable for variation margin on futures	$	699,047	*	Receivable/Payable for variation margin on futures	$	41,069	*
Credit contracts					Receivable/Payable for variation margin on centrally cleared swaps		21,420	*
Foreign currency contracts	Unrealized appreciation on forward currency exchange contracts		189,319		Unrealized depreciation on forward currency exchange contracts		792,379
Credit contracts	Market value on credit default swaps		1,122,836		Market value on credit default swaps		1,446,833
Total		$	2,011,202			$	2,301,701

* Only variation margin receivable/payable at period end is reported within the statement of assets and liabilities. This amount reflects cumulative unrealized appreciation/(depreciation) on futures and centrally cleared swaps as reported in the portfolio of investments.

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Derivative Type	Location of Gain or (Loss) on Derivatives Within Statement of Operations	Realized Gain or (Loss) on Derivatives			Change in Unrealized Appreciation or (Depreciation)
Interest rate contracts	Net realized gain (loss) on futures; Net change in unrealized appreciation/depreciation of futures	$	(1,621,117	)	$	874,848
Foreign currency contracts	Net realized gain (loss) on forward currency exchange contracts; Net change in unrealized appreciation/depreciation of forward currency exchange contracts		304,436			(1,230,988	)
Credit contracts	Net realized gain (loss) on swaps; Net change in unrealized appreciation/depreciation of swaps		(219,280	)		128,334
Total		$	(1,535,961	)	$	(227,806	)

The following table represents the average monthly volume of the Fund’s derivative transactions during the year ended September 30, 2022:

Futures:
Average notional amount of buy contracts	$	16,685,682	(a)
Average notional amount of sale contracts	$	6,593,954
Forward Currency Exchange Contracts:
Average principal amount of buy contracts	$	1,865,946	(b)
Average principal amount of sale contracts	$	42,567,222
Credit Default Swaps:
Average notional amount of buy contracts	$	3,364,651
Average notional amount of sale contracts	$	5,755,543
Centrally Cleared Credit Default Swaps:
Average notional amount of sale contracts	$	15,185,485	(a)

(a) Positions were open for eleven months during the year.

(b) Positions were open for ten months during the year.

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the statement of assets and liabilities.

All OTC derivatives held at period end were subject to netting arrangements. The following table presents the Fund’s derivative assets and liabilities by OTC counterparty net of amounts available for offset under ISDA Master Agreements (“MA”) and net of the related collateral received/pledged by the Fund as of September 30, 2022. Exchange-traded

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derivatives and centrally cleared swaps are not subject to netting arrangements and as such are excluded from the table.

Counterparty	Derivative Assets Subject to a MA		Derivatives Available for Offset			Cash Collateral Received*			Security Collateral Received*			Net Amount of Derivative Assets
Bank of America, NA	$	4,354	$	(4,354	)	$	– 0	–	$	– 0	–	$	– 0	–
Citigroup Global Markets, Inc.		589,214		– 0	–		(589,214	)		– 0	–		– 0	–
Credit Suisse International		164,263		– 0	–		(164,263	)		– 0	–		– 0	–
Goldman Sachs International		369,359		(369,359	)		– 0	–		– 0	–		– 0	–
Morgan Stanley Capital Services, Inc.		175,067		– 0	–		– 0	–		– 0	–		175,067
State Street Bank & Trust Co.		9,898		(1,335	)		– 0	–		– 0	–		8,563
Total	$	1,312,155	$	(375,048	)	$	(753,477	)	$	– 0	–	$	183,630	^

Counterparty	Derivative Liabilities Subject to a MA		Derivatives Available for Offset			Cash Collateral Pledged*			Security Collateral Pledged*			Net Amount of Derivative Liabilities
Bank of America, NA	$	791,044	$	(4,354	)	$	– 0	–	$	– 0	–	$	786,690
Deutsche Bank AG		220,065		– 0	–		(220,065	)		– 0	–		– 0	–
Goldman Sachs International		923,795		(369,359	)		(554,436	)		– 0	–		– 0	–
JPMorgan Securities, LLC		302,973		– 0	–		(302,973	)		– 0	–		– 0	–
State Street Bank & Trust Co.		1,335		(1,335	)		– 0	–		– 0	–		– 0	–
Total	$	2,239,212	$	(375,048	)	$	(1,077,474	)	$	– 0	–	$	786,690	^

* The actual collateral received/pledged may be more than the amount reported due to over-collateralization.

^ Net amount represents the net receivable/payable that would be due from/to the counterparty in the event of default or termination. The net amount from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same counterparty.

2. Currency Transactions

The Fund may invest in non-U.S. Dollar-denominated securities on a currency hedged or unhedged basis. The Fund may seek investment opportunities by taking long or short positions in currencies through the use of currency-related derivatives, including forward currency exchange contracts, futures and options on futures, swaps, and other options. The Fund

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may enter into transactions for investment opportunities when it anticipates that a foreign currency will appreciate or depreciate in value but securities denominated in that currency are not held by the Fund and do not present attractive investment opportunities. Such transactions may also be used when the Adviser believes that it may be more efficient than a direct investment in a foreign currency-denominated security. The Fund may also conduct currency exchange contracts on a spot basis (i.e., for cash at the spot rate prevailing in the currency exchange market for buying or selling currencies).

NOTE E

Capital Stock

Each class consists of 3,000,000,000 authorized shares. Transactions in capital shares for each class were as follows:

	Shares						Amount
	Year Ended September 30, 2022			Year Ended September 30, 2021			Year Ended September 30, 2022			Year Ended September 30, 2021
Class A
Shares sold		1,505,730			893,518		$	14,461,974		$	9,253,412
Shares issued in reinvestment of dividends		68,950			60,199			660,087			621,073
Shares converted from Class C		136,847			209,731			1,333,170			2,170,300
Shares redeemed		(1,602,317	)		(614,678	)		(15,264,485	)		(6,350,266	)
Net increase		109,210			548,770		$	1,190,746		$	5,694,519
Class C
Shares sold		311,783			217,495		$	3,002,479		$	2,247,519
Shares issued in reinvestment of dividends		17,002			17,760			162,712			182,997
Shares converted to Class A		(136,928	)		(209,821	)		(1,333,170	)		(2,170,300	)
Shares redeemed		(322,216	)		(172,841	)		(3,091,319	)		(1,781,657	)
Net decrease		(130,359	)		(147,407	)	$	(1,259,298	)	$	(1,521,441	)
Advisor Class
Shares sold		15,420,420			14,257,102		$	148,828,268		$	147,259,359
Shares issued in reinvestment of dividends		951,360			873,224			9,090,428			8,996,889
Shares redeemed		(16,289,709	)		(8,542,476	)		(158,139,427	)		(88,153,741	)
Net increase (decrease)		82,071			6,587,850		$	(220,731	)	$	68,102,507

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There were no transactions in capital shares for Class R, Class K and Class I for the year ended September 30, 2022.

NOTE F

Risks Involved in Investing in the Fund

Market Risk—The value of the Fund’s assets will fluctuate as the stock, bond, currency and commodity markets fluctuate. The value of its investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events, including public health crises (including the occurrence of a contagious disease or illness) and regional and global conflicts, that affect large portions of the market.

Interest-Rate Risk—Changes in interest rates will affect the value of investments in fixed-income securities. When interest rates rise, the value of existing investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. The Fund may be subject to a greater risk of rising interest rates than would normally be the case due to the end of a recent period of historically low rates and the effect of potential government fiscal policy initiatives and resulting market reaction to those initiatives.

Credit Risk—An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer, guarantor or counterparty may default, causing a loss of the full principal amount of a security and accrued interest. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.

Below Investment-Grade Securities Risk—Investments in fixed-income securities with lower ratings (commonly known as “junk bonds”) are subject to a higher probability that an issuer will default or fail to meet its payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate developments and negative perceptions of the junk bond market generally and may be more difficult to trade than other types of securities.

Duration Risk—Duration is a measure that relates the expected price volatility of a fixed-income security to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to the full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest rates rise.

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Inflation Risk—This is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions. This risk is significantly greater for fixed-income securities with longer maturities.

Derivatives Risk—Derivatives may be difficult to price or unwind and leveraged so that small changes may produce disproportionate losses for the Fund. A short position in a derivative instrument involves the risk of a theoretically unlimited increase in the value of the underlying instrument, which could cause the Fund to suffer a (potentially unlimited) loss. Derivatives, especially over-the-counter derivatives, are also subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable or unwilling to honor its contractual obligations to the Fund.

Foreign (Non-U.S.) Risk—Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be more difficult to trade due to adverse market, economic, political, regulatory or other factors.

Emerging Market Risk—Investments in emerging market countries may have more risk because the markets are less developed and less liquid and are subject to increased economic, political, regulatory and other uncertainties.

Currency Risk—Fluctuations in currency exchange rates may negatively affect the value of the Fund’s investments or reduce its returns.

Loan Participations and Assignments Risk—When the Fund purchases loan participations and assignments, it is subject to the credit risk associated with the underlying corporate borrower. In addition, the lack of a liquid secondary market for loan participations and assignments may have an adverse impact on the value of such investments and the Fund’s ability to dispose of particular assignments or participations when necessary to meet the Fund’s liquidity needs or in response to a specific economic event such as a deterioration in the creditworthiness of the borrower.

Illiquid Investments Risk—Illiquid investments risk exists when certain investments become difficult to purchase or sell. Difficulty in selling such investments may result in sales at disadvantageous prices affecting the value of your investment in the Fund. Causes of illiquid investments risk may include low trading volumes, large positions and heavy redemptions of Fund shares. Illiquid investments risk may be higher in a rising interest rate environment, when the value and liquidity of fixed-income securities generally decline.

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LIBOR Transition and Associated Risk—A Fund may be exposed to debt securities, derivatives or other financial instruments that utilize the London Interbank Offered Rate, or “LIBOR,” as a “benchmark” or “reference rate” for various interest rate calculations. In 2017, the United Kingdom Financial Conduct Authority (“FCA”), which regulates LIBOR, announced a desire to phase out the use of LIBOR by the end of 2021. The FCA and LIBOR’s administrator, ICE Benchmark Administration, have since announced that most LIBOR settings (which reflect LIBOR rates quoted in different currencies over various time periods) will no longer be published after the end of 2021 but that the most widely used U.S. Dollar LIBOR settings will continue to be published until June 30, 2023. However, banks were strongly encouraged to cease entering into agreements with counterparties referencing LIBOR by the end of 2021. It is possible that a subset of LIBOR settings will be published after these dates on a “synthetic” basis, but any such publications would be considered non-representative of the underlying market. Since 2018 the Federal Reserve Bank of New York has published the secured overnight funding rate (referred to as SOFR), which is intended to replace U.S. Dollar LIBOR. SOFR is a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities in the repurchase agreement (repo) market and has been used increasingly on a voluntary basis in new instruments and transactions. In addition, on March 15, 2022, the Adjustable Interest Rate Act was signed into law. This law provides a statutory fallback mechanism to replace LIBOR with a benchmark rate that is selected by the Federal Reserve Board and based on SOFR for certain contracts that reference LIBOR without adequate fallback provisions.

The elimination of LIBOR or changes to other reference rates or any other changes or reforms to the determination or supervision of reference rates could have an adverse impact on the market for, or value of, any securities or payments linked to those reference rates, which may adversely affect a Fund’s performance and/or net asset value. Uncertainty and risk also remain regarding the willingness and ability of issuers and lenders to include revised provisions in new and existing contracts or instruments. Consequently, the transition from LIBOR to other reference rates may lead to increased volatility and illiquidity in markets that are tied to LIBOR, fluctuations in values of LIBOR-related investments or investments in issuers that utilize LIBOR, increased difficulty in borrowing or refinancing and diminished effectiveness of hedging strategies, potentially adversely affecting a Fund’s performance. Furthermore, the risks associated with the expected discontinuation of LIBOR and transition may be exacerbated if the work necessary to effect an orderly transition to an alternative reference rate is not completed in a timely manner. Neither the effect of the LIBOR transition process nor its ultimate success can yet be known.

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Indemnification Risk—In the ordinary course of business, the Fund enters into contracts that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, the Fund has not had prior claims or losses pursuant to these indemnification provisions and expects the risk of loss thereunder to be remote. Therefore, the Fund has not accrued any liability in connection with these indemnification provisions.

Management Risk—The Fund is subject to management risk because it is an actively-managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results. Some of these techniques may incorporate, or rely upon, quantitative models, but there is no guarantee that these models will generate accurate forecasts, reduce risk or otherwise perform as expected.

NOTE G

Joint Credit Facility

A number of open-end mutual funds managed by the Adviser, including the Fund, participate in a $325 million revolving credit facility (the “Facility”) intended to provide short-term financing related to redemptions and other short term liquidity requirements, subject to certain restrictions. Commitment fees related to the Facility are paid by the participating funds and are included in miscellaneous expenses in the statement of operations. The Fund did not utilize the Facility during the year ended September 30, 2022.

NOTE H

Distributions to Shareholders

The tax character of distributions paid during the fiscal years ended September 30, 2022 and September 30, 2021 were as follows:

	2022		2021
Distributions paid from:
Ordinary income	$	14,798,840	$	13,371,246
Total taxable distributions paid	$	14,798,840	$	13,371,246

As of September 30, 2022, the components of accumulated earnings/(deficit) on a tax basis were as follows:

Undistributed ordinary income	$	7,984,352
Accumulated capital and other losses		(20,131,967	)(a)
Unrealized appreciation/(depreciation)		(51,589,278	)(b)
Total accumulated earnings/(deficit)	$	(63,736,893	)(c)

(a) As of September 30, 2022, the Fund had a net capital loss carryforward of $20,131,967.

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(b) The differences between book-basis and tax-basis unrealized appreciation/(depreciation) are attributable primarily to the recognition for tax purposes of unrealized gains/losses on certain derivative instruments, the tax treatment of callable bonds, the tax treatment of swaps, and the tax deferral of losses on wash sales.

(c)The differences between book-basis and tax-basis components of accumulated earnings/(deficit) are attributable primarily to the accrual of foreign capital gains tax, the tax treatment of defaulted securities, and dividends payable.

For tax purposes, net realized capital losses may be carried over to offset future capital gains, if any. Funds are permitted to carry forward capital losses for an indefinite period, and such losses will retain their character as either short-term or long-term capital losses. As of September 30, 2022, the Fund had a net short-term capital loss carryforward of $10,705,869 and a net long-term capital loss carryforward of $9,426,098, which may be carried forward for an indefinite period.

During the current fiscal year, there were no permanent differences that resulted in adjustments to accumulated loss or additional paid-in capital.

NOTE I

Recent Accounting Pronouncements

In March 2020, the Financial Accounting Standards Board issued an Accounting Standards Update, ASU 2020-04, “Reference Rate Reform (Topic 848) – Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” ASU 2020-04 provides optional guidance to ease the potential accounting burden due to the discontinuation of the LIBOR and other interbank-offered based reference rates. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. Management is currently evaluating the impact, if any, of applying ASU 2020-04.

NOTE J

Subsequent Events

Management has evaluated subsequent events for possible recognition or disclosure in the financial statements through the date the financial statements are issued. Management has determined that there are no material events that would require disclosure in the Fund’s financial statements through this date.

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FINANCIAL HIGHLIGHTS

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Class A
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.36			$  9.95			$  10.36			$  10.24			$  10.40
Income From Investment Operations
Net investment income(a)(b)		.36			.36			.37			.39			.38
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.57	)		.45			(.33	)		.16			(.16	)
Net increase (decrease) in net asset value from operations		(1.21	)		.81			.04			.55			.22
Less: Dividends and Distributions
Dividends from net investment income		(.40	)		(.40	)		(.45	)		(.43	)		(.36	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.02	)
Total dividends and distributions		(.40	)		(.40	)		(.45	)		(.43	)		(.38	)
Net asset value, end of period		$  8.75			$  10.36			$  9.95			$  10.36			$  10.24
Total Return
Total investment return based on net asset value(c)		(11.98	)%		8.23	%		.54	%		5.54	%		2.23	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$27,201			$31,087			$24,393			$19,487			$17,897
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		.95	%		.95	%		.95	%		.95	%		.95	%
Expenses, before waivers/reimbursements(d)‡		1.00	%		1.02	%		1.04	%		1.05	%		1.05	%
Net investment income(b)		3.71	%		3.52	%		3.71	%		3.85	%		3.69	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Class C
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.35			$  9.94			$  10.35			$  10.23			$  10.40
Income From Investment Operations
Net investment income(a)(b)		.29			.29			.29			.32			.30
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.58	)		.44			(.32	)		.16			(.16	)
Net increase (decrease) in net asset value from operations		(1.29	)		.73			(.03	)		.48			.14
Less: Dividends and Distributions
Dividends from net investment income		(.32	)		(.32	)		(.38	)		(.36	)		(.30	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.01	)
Total dividends and distributions		(.32	)		(.32	)		(.38	)		(.36	)		(.31	)
Net asset value, end of period		$  8.74			$  10.35			$  9.94			$  10.35			$  10.23
Total Return
Total investment return based on net asset value(c)		(12.66	)%		7.43	%		(.21	)%		4.76	%		1.37	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$7,335			$10,038			$11,105			$17,617			$21,412
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		1.70	%		1.70	%		1.70	%		1.70	%		1.70	%
Expenses, before waivers/reimbursements(d)‡		1.75	%		1.77	%		1.79	%		1.80	%		1.80	%
Net investment income(b)		2.95	%		2.78	%		2.96	%		3.11	%		2.95	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Advisor Class
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.34			$  9.93			$  10.35			$  10.22			$  10.39
Income From Investment Operations
Net investment income(a)(b)		.38			.39			.39			.42			.41
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.57	)		.45			(.33	)		.17			(.17	)
Net increase (decrease) in net asset value from operations		(1.19	)		.84			.06			.59			.24
Less: Dividends and Distributions
Dividends from net investment income		(.42	)		(.43	)		(.48	)		(.46	)		(.39	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.02	)
Total dividends and distributions		(.42	)		(.43	)		(.48	)		(.46	)		(.41	)
Net asset value, end of period		$  8.73			$  10.34			$  9.93			$  10.35			$  10.22
Total Return
Total investment return based on net asset value(c)		(11.78	)%		8.52	%		.70	%		5.91	%		2.38	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$283,354			$334,801			$256,070			$238,350			$225,703
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		.70	%		.70	%		.70	%		.70	%		.69	%
Expenses, before waivers/reimbursements(d)‡		.75	%		.77	%		.79	%		.80	%		.80	%
Net investment income(b)		3.97	%		3.77	%		3.97	%		4.10	%		3.94	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Class R
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.36			$  9.94			$  10.36			$  10.23			$  10.40
Income From Investment Operations
Net investment income(a)(b)		.39			.35			.35			.37			.35
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.60	)		.44			(.34	)		.17			(.16	)
Net increase (decrease) in net asset value from operations		(1.21	)		.79			.01			.54			.19
Less: Dividends and Distributions
Dividends from net investment income		(.41	)		(.37	)		(.43	)		(.41	)		(.34	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.02	)
Total dividends and distributions		(.41	)		(.37	)		(.43	)		(.41	)		(.36	)
Net asset value, end of period		$  8.74			$  10.36			$  9.94			$  10.36			$  10.23
Total Return
Total investment return based on net asset value(c)		(11.92	)%		8.05	%		.21	%		5.39	%		1.87	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$9			$10			$10			$10			$10
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		.77	%		1.20	%		1.20	%		1.20	%		1.20	%
Expenses, before waivers/reimbursements(d)‡		1.28	%		1.24	%		1.30	%		1.31	%		1.32	%
Net investment income(b)		3.98	%		3.37	%		3.49	%		3.63	%		3.43	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Class K
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.36			$  9.95			$  10.36			$  10.23			$  10.40
Income From Investment Operations
Net investment income(a)(b)		.39			.37			.37			.40			.38
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.59	)		.44			(.32	)		.16			(.17	)
Net increase (decrease) in net asset value from operations		(1.20	)		.81			.05			.56			.21
Less: Dividends and Distributions
Dividends from net investment income		(.42	)		(.40	)		(.46	)		(.43	)		(.36	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.02	)
Total dividends and distributions		(.42	)		(.40	)		(.46	)		(.43	)		(.38	)
Net asset value, end of period		$  8.74			$  10.36			$  9.95			$  10.36			$  10.23
Total Return
Total investment return based on net asset value(c)		(11.91	)%		8.22	%		.56	%		5.65	%		2.12	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$9			$10			$10			$10			$10
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		.76	%		.95	%		.95	%		.95	%		.95	%
Expenses, before waivers/reimbursements(d)‡		1.01	%		1.00	%		1.04	%		1.04	%		1.06	%
Net investment income(b)		4.00	%		3.62	%		3.74	%		3.87	%		3.67	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

	Class I
	Year Ended September 30,
	2022			2021			2020			2019			2018
Net asset value, beginning of period		$  10.36			$  9.95			$  10.36			$  10.24			$  10.40
Income From Investment Operations
Net investment income(a)(b)		.39			.40			.39			.42			.40
Net realized and unrealized gain (loss) on investment and foreign currency transactions		(1.58	)		.43			(.32	)		.16			(.15	)
Net increase (decrease) in net asset value from operations		(1.19	)		.83			.07			.58			.25
Less: Dividends and Distributions
Dividends from net investment income		(.42	)		(.42	)		(.48	)		(.46	)		(.39	)
Return of capital		– 0	–		– 0	–		– 0	–		– 0	–		(.02	)
Total dividends and distributions		(.42	)		(.42	)		(.48	)		(.46	)		(.41	)
Net asset value, end of period		$  8.75			$  10.36			$  9.95			$  10.36			$  10.24
Total Return
Total investment return based on net asset value(c)		(11.76	)%		8.47	%		.80	%		5.80	%		2.47	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)		$8			$10			$9			$10			$10
Ratio to average net assets of:
Expenses, net of waivers/reimbursements(d)‡		.70	%		.70	%		.70	%		.70	%		.70	%
Expenses, before waivers/reimbursements(d)‡		.72	%		.72	%		.75	%		.76	%		.77	%
Net investment income(b)		4.05	%		3.85	%		3.96	%		4.10	%		3.93	%
Portfolio turnover rate		62	%		57	%		60	%		37	%		39	%
‡  Expense ratios exclude the estimated acquired fund fees of the affiliated/unaffiliated underlying
portfolios		.00	%		.00	%		.00	%		.01	%		.01	%

See footnote summary on page 89.

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FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

(a) Based on average shares outstanding.

(b) Net of expenses waived/reimbursed by the Adviser.

(c) Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption on the last day of the period. Initial sales charges or contingent deferred sales charges are not reflected in the calculation of total investment return. Total return does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total investment return calculated for a period of less than one year is not annualized.

(d) In connection with the Fund’s investments in affiliated underlying portfolios, the Fund incurs no direct expenses, but bears proportionate shares of the fees and expenses (i.e., operating, administrative and investment advisory fees) of the affiliated underlying portfolios. The Adviser has contractually agreed to waive its fees from the Fund in an amount equal to the Fund’s pro rata share of certain acquired fund fees and expenses, and for the years ended September 30, 2019 and September 30, 2018, such waiver amounted to .01% and .01%, respectively.

See notes to financial statements.

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REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM

To the Shareholders and the Board of Directors of

AB Limited Duration High Income Portfolio

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of AB Limited Duration High Income Portfolio (the “Fund”) (one of the series constituting AB Bond Fund, Inc. (the “Company”)), including the portfolio of investments, as of September 30, 2022, and the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund (one of the series constituting AB Bond Fund, Inc.) at September 30, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and its financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of the Company’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures

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REPORT OF INDEPENDENT REGISTERED

PUBLIC ACCOUNTING FIRM (continued)

included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of September 30, 2022, by correspondence with the custodian, brokers and others; when replies were not received from brokers or others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more of the AB investment companies since 1968.

New York, New York

November 23, 2022

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2022 FEDERAL TAX INFORMATION

(unaudited)

For Federal income tax purposes, the following information is furnished with respect to the distributions paid by the Fund during the taxable year ended September 30, 2022. For foreign shareholders, 33.55% of ordinary dividends paid may be considered to be qualifying to be taxed as interest-related dividends.

Shareholders should not use the above information to prepare their income tax returns. The information necessary to complete your income tax returns will be included with your Form 1099-DIV which will be sent to you separately in January 2023.

92    ^|    AB LIMITED DURATION HIGH INCOME PORTFOLIO abfunds.com

BOARD OF DIRECTORS

Marshall C. Turner, Jr.⁽¹⁾, Chairman Jorge A. Bermudez⁽¹⁾ Michael J. Downey⁽¹⁾ Onur Erzan, President and Chief Executive Officer Nancy P. Jacklin⁽¹⁾ Jeanette W. Loeb⁽¹⁾ Carol C. McMullen⁽¹⁾ Garry L. Moody⁽¹⁾

OFFICERS

Gershon M. Distenfeld⁽²⁾, Vice President William Smith⁽²⁾, Vice President Robert Schwartz⁽²⁾, Vice President Emilie D. Wrapp, Secretary Michael B. Reyes, Senior Vice President Joseph J. Mantineo, Treasurer and Chief Financial Officer Phyllis J. Clarke, Controller Vincent S. Noto, Chief Compliance Officer

Custodian and Accounting Agent State Street Bank and
Trust Company State Street Corporation CCB/5 1 Iron Street Boston, MA 02210   Principal Underwriter AllianceBernstein Investments, Inc. 501 Commerce Street Nashville, TN 37203   Transfer Agent AllianceBernstein Investor Services, Inc. P.O. Box 786003 San Antonio, TX 78278 Toll-Free (800) 221-5672 Independent Registered Public
Accounting Firm Ernst & Young LLP One Manhattan West New York, NY 10001   Legal Counsel Seward & Kissel LLP One Battery Park Plaza New York, NY 10004

1 Member of the Audit Committee, the Governance and Nominating Committee, and the Independent Directors Committee.

2 The day-to-day management of, and investment decisions for, the Fund’s portfolio are made by its Limited Duration High Income Investment Team.
Messrs. Distenfeld and Smith and Schwartz are the investment professionals with the most significant responsibility for the day-to-day management of the Fund’s portfolio.

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MANAGEMENT OF THE FUND

Board of Directors Information

The business and affairs of the Fund are managed under the direction of the Board of Directors. Certain information concerning the Fund’s Directors is set forth below.

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
INTERESTED DIRECTOR
Onur Erzan,# 1345 Avenue of the Americas New York, NY 10105 46 (2021)	Senior Vice President of AllianceBernstein L.P. (the “Adviser”), Head of Global Client Group and Head of Private Wealth. He oversees AB’s entire private wealth management business and third-party institutional and retail franchise, where he is responsible for all client services, sales and marketing, as well as product strategy, management and development worldwide. Director, President and Chief Executive Officer of the AB Mutual Funds as of April 1, 2021. He is also a member of the Equitable Holdings Management Committee. Prior to joining the firm in 2021, he spent over 19 years with McKinsey, most recently as a senior partner and co-leader of its Wealth & Asset Management practice. In addition, He co-led McKinsey’s Banking & Securities Solutions (a portfolio of data, analytics and digital assets and capabilities) globally.		75	None

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MANAGEMENT OF THE FUND (continued)

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
DISINTERESTED DIRECTORS
Marshall C. Turner, Jr.,## Chairman of the Board 81 (2005)	Private Investor since prior to 2017. Former Chairman and CEO of Dupont Photomasks, Inc. (semi-conductor manufacturing equipment). He was a Director of Xilinx, Inc. (programmable logic semi-conductors and adaptable, intelligent computing) from 2007 through August 2020, and is a former director of 33 other companies and organizations. He has extensive operating leadership, and venture capital investing experience, including five interim or full-time CEO roles, and prior service as general partner of institutional venture capital partnerships. He also has extensive non-profit board leadership experience, and currently serves on the board of the George Lucas Educational Foundation. He has served as a director of one AB Fund since 1992, and director or trustee of all AB Funds since 2005. He has been Chairman of the AB Funds since January 2014, and the Chairman of the Independent Directors Committees of such AB Funds since February 2014.		75	None

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MANAGEMENT OF THE FUND (continued)

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
DISINTERESTED DIRECTORS (continued)
Jorge A. Bermudez,## 71 (2020)	Private Investor since prior to 2017. Formerly, Chief Risk Officer of Citigroup, Inc., a global financial services company, from November 2007 to March 2008, Chief Executive Officer of Citigroup’s Commercial Business Group in North America and Citibank Texas from 2005 to 2007, and a variety of other executive and leadership roles at various businesses within Citigroup prior to then; Chairman (2018) of the Texas A&M Foundation Board of Trustees (Trustee since 2013) and Chairman of the Smart Grid Center Board at Texas A&M University since 2012; director of, among others, Citibank N.A. from 2005 to 2008, the Federal Reserve Bank of Dallas, Houston Branch from 2009 to 2011, the Federal Reserve Bank of Dallas from 2011 to 2017, and the Electric Reliability Council of Texas from 2010 to 2016. He has served as director or trustee of the AB Funds since January 2020.		75	Moody’s Corporation since April 2011
Michael J. Downey,## 78 (2005)	Private Investor since prior to 2017. Formerly, Chairman of The Asia Pacific Fund, Inc. (registered investment company) since prior to 2017 until January 2019. From 1987 until 1993, Chairman and CEO of Prudential Mutual Fund Management, director of the Prudential mutual funds, and member of the Executive Committee of Prudential Securities, Inc. He has served as a director or trustee of the AB Funds since 2005.		75	None

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MANAGEMENT OF THE FUND (continued)

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
DISINTERESTED DIRECTORS (continued)
Nancy P. Jacklin,## 74 (2006)	Private Investor since prior to 2017. Professorial Lecturer at the Johns Hopkins School of Advanced International Studies (2008-2015). U.S. Executive Director of the International Monetary Fund (which is responsible for ensuring the stability of the international monetary system), (December 2002-May 2006); Partner, Clifford Chance (1992-2002); Sector Counsel, International Banking and Finance, and Associate General Counsel, Citicorp (1985-1992); Assistant General Counsel (International), Federal Reserve Board of Governors (1982-1985); and Attorney Advisor, U.S. Department of the Treasury (1973-1982). Member of the Bar of the District of Columbia and of New York; and member of the Council on Foreign Relations. She has served as a director or trustee of the AB Funds since 2006 and has been Chair of the Governance and Nominating Committees of the AB Funds since August 2014.		75	None
Jeanette W. Loeb,## 70 (2020)	Chief Executive Officer of PetCareRx (e-commerce pet pharmacy) from 2002 to 2011 and 2015 to present. Director of New York City Center since 2005. She was a director of AB Multi-Manager Alternative Fund, Inc. (fund of hedge funds) from 2012 to 2018. Formerly, affiliated with Goldman Sachs Group, Inc. (financial services) from 1977 to 1994, including as a partner thereof from 1986 to 1994. She has served as director or trustee of the AB Funds since April 2020.		75	Apollo Investment Corp. (business development company) since August 2011

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MANAGEMENT OF THE FUND (continued)

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
DISINTERESTED DIRECTORS (continued)
Carol C. McMullen,## 67 (2016)	Managing Director of Slalom Consulting (consulting) since 2014, private investor and a member of the Advisory Board of Butcher Box (since 2018). Formerly, member, Partners Healthcare Investment Committee (2010-2019); Director of Norfolk & Dedham Group (mutual property and casualty insurance) from 2011 until November 2016; Director of Partners Community Physicians Organization (healthcare) from 2014 until December 2016; and Managing Director of The Crossland Group (consulting) from 2012 until 2013. She has held a number of senior positions in the asset and wealth management industries, including at Eastern Bank (where her roles included President of Eastern Wealth Management), Thomson Financial (Global Head of Sales for Investment Management), and Putnam Investments (where her roles included Chief Investment Officer, Core and Growth and Head of Global Investment Research). She has served on a number of private company and non-profit boards, and as a director or trustee of the AB Funds since June 2016.		75	None

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MANAGEMENT OF THE FUND (continued)

NAME, ADDRESS*, AGE, (YEAR FIRST ELECTED**)	PRINCIPAL OCCUPATION(S) DURING PAST FIVE YEARS AND OTHER INFORMATION***	PORTFOLIOS IN AB FUND COMPLEX OVERSEEN BY DIRECTOR		OTHER PUBLIC DIRECTORSHIPS CURRENTLY HELD BY DIRECTOR
DISINTERESTED DIRECTORS (continued)
Garry L. Moody,## 70 (2008)	Private Investor since prior to 2017. Formerly, Partner, Deloitte & Touche LLP (1995-2008) where he held a number of senior positions, including Vice Chairman, and U.S. and Global Investment Management Practice Managing Partner; President, Fidelity Accounting and Custody Services Company (1993-1995), where he was responsible for accounting, pricing, custody and reporting for the Fidelity mutual funds; and Partner, Ernst & Young LLP (1975-1993), where he served as the National Director of Mutual Fund Tax Services and Managing Partner of its Chicago Office Tax department. He is a member of the Investment Company Institute’s Board of Governors and the Independent Directors Council’s Governing Council, where he serves as Chairman of its Governance Committee. He has served as a director or trustee, and as Chairman of the Audit Committees, of the AB Funds since 2008.		75	None

* The address for each of the Fund’s disinterested Directors is c/o AllianceBernstein L.P., Attention: Legal and Compliance Department - Mutual Fund Legal, 1345 Avenue of the Americas, New York, NY 10105.

** There is no stated term of office for the Funds’ Directors.

*** The information above includes each Director’s principal occupation during the last five years and other information relating to the experience, attributes and skills relevant to each Director’s qualification to serve as a Director, which led to the conclusion that each Director should serve as a Director of the Fund.

# Mr. Erzan is an “interested person”, as defined in Section 2(a)(19) of the 1940 Act, of the Funds due to his position as a Senior Vice President of the Adviser.

## Member of the Audit Committee, the Governance and Nominating Committee and the Independent Directors Committee.

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MANAGEMENT OF THE FUND (continued)

Officer Information

Certain information concerning the Fund’s officers is listed below.

NAME, ADDRESS,* AND AGE	POSITIONS HELD WITH FUND	PRINCIPAL OCCUPATION DURING PAST 5 YEARS
Onur Ezan, 46	President and Chief Executive Officer	See biography above.
Gershon M. Distenfeld, 46	Vice President	Senior Vice President of the Adviser**, with which he has been associated since prior to 2017. He is also co-Head of Fixed-Income.
William Smith, 35	Vice President	Senior Vice President of the Adviser**, with which he has been associated since prior to 2017. He is also a Director of US High Yield Credit.
Robert Schwartz, 50	Vice President	Senior Vice President of the Adviser, with which he has been associated since prior to 2017.
Emilie D. Wrapp, 66	Secretary	Senior Vice President, Assistant General Counsel and Assistant Secretary of AllianceBernstein Investments, Inc. (“ABI”)**, with which she has been associated since prior to 2017.
Michael B. Reyes, 46	Senior Vice President	Vice President of the Adviser**, with which he has been associated since prior to 2017.
Joseph J. Mantineo, 63	Treasurer and Chief Financial Officer	Senior Vice President of AllianceBernstein Investor Services (“ABIS”)**, with which he has been associated since prior to 2017.
Phyllis J. Clarke, 61	Controller	Vice President of ABIS**, with which she has been associated since prior to 2017.
Vincent S. Noto, 57	Chief Compliance Officer	Senior Vice President and Mutual Fund Chief Compliance Officer of the Adviser** since prior to 2017.

* The address for each of the Fund’s Officers is 1345 Avenue of the Americas, New York, NY 10105.

** The Adviser, ABI and ABIS are affiliates of the Fund.

The Fund’s Statement of Additional Information (“SAI”) has additional information about the Fund’s Directors and Officers and is available without charge upon request. Contact your financial representative or AB at (800) 227-4618, or visit www.abfunds.com, for a free prospectus or SAI.

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Operation and Effectiveness of the Fund’s Liquidity Risk Management Program:

In October 2016, the Securities and Exchange Commission (“SEC”) adopted the open-end fund liquidity rule (the “Liquidity Rule”). In June 2018 the SEC adopted a requirement that funds disclose information about the operation and effectiveness of their Liquidity Risk Management Program (“LRMP”) in their reports to shareholders.

One of the requirements of the Liquidity Rule is for the Fund to designate an Administrator of the Fund’s Liquidity Risk Management Program. The Administrator of the Fund’s LRMP is AllianceBernstein L.P., the Fund’s investment adviser (the “Adviser”). The Adviser has delegated the responsibility to its Liquidity Risk Management Committee (the “Committee”).

Another requirement of the Liquidity Rule is for the Fund’s Board of Directors (the “Fund Board”) to receive an annual written report from the Administrator of the LRMP, which addresses the operation of the Fund’s LRMP and assesses its adequacy and effectiveness. The Adviser provided the Fund Board with such annual report during the first quarter of 2022, which covered the period January 1, 2021 through December 31, 2021 (the “Program Reporting Period”).

The LRMP’s principal objectives include supporting the Fund’s compliance with limits on investments in illiquid assets and mitigating the risk that the Fund will be unable to meet its redemption obligations in a timely manner.

Pursuant to the LRMP, the Fund classifies the liquidity of its portfolio investments into one of the four categories defined by the SEC: Highly Liquid, Moderately Liquid, Less Liquid, and Illiquid. These classifications are reported to the SEC on Form N-PORT.

During the Program Reporting Period, the Committee reviewed whether the Fund’s strategy is appropriate for an open-end structure, incorporating any holdings of less liquid and illiquid assets. If the Fund participated in derivative transactions, the exposure from such transactions were considered in the LRMP.

The Committee also performed an analysis to determine whether the Fund is required to maintain a Highly Liquid Investment Minimum (“HLIM”). The Committee also incorporated the following information when determining the Fund’s reasonably anticipated trading size for purposes of liquidity monitoring: historical net redemption activity, a Fund’s concentration in an issuer, shareholder concentration, investment performance, total net assets, and distribution channels.

The Adviser informed the Fund Board that the Committee believes the Fund’s LRMP is adequately designed, has been implemented as intended, and has operated effectively since its inception. No material exceptions

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have been noted since the implementation of the LRMP. During the Program Reporting Period, liquidity in all markets was significantly recovered and improved compared to the prior reporting period which included extreme levels of price volatility and relative illiquidity beginning in March 2020 with COVID-19 impacts. As such, the program operated in a relatively robust and benign liquidity environment experienced in markets during the Program Reporting Period. There were no liquidity events that impacted the Fund or its ability to timely meet redemptions during the Program Reporting Period.

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Information Regarding the Review and Approval of the Fund’s Advisory Agreement

The disinterested directors (the “directors”) of AB Bond Fund, Inc. (the “Company”) unanimously approved the continuance of the Company’s Advisory Agreement with the Adviser in respect of AB Limited Duration High Income Portfolio (the “Fund”) at a meeting held by video conference on November 2-4, 2021 (the “Meeting”).

Prior to approval of the continuance of the Advisory Agreement, the directors had requested from the Adviser, and received and evaluated, extensive materials. They reviewed the proposed continuance of the Advisory Agreement with the Adviser and with experienced counsel who are independent of the Adviser, who advised on the relevant legal standards. The directors also reviewed additional materials, including comparative analytical data prepared by the Senior Analyst for the Fund. The directors also discussed the proposed continuance in private sessions with counsel.

The directors considered their knowledge of the nature and quality of the services provided by the Adviser to the Fund gained from their experience as directors or trustees of most of the registered investment companies advised by the Adviser, their overall confidence in the Adviser’s integrity and competence they have gained from that experience, the Adviser’s initiative in identifying and raising potential issues with the directors and its responsiveness, frankness and attention to concerns raised by the directors in the past, including the Adviser’s willingness to consider and implement organizational and operational changes designed to improve investment results and the services provided to the AB Funds. The directors noted that they have four regular meetings each year, at each of which they review extensive materials and information from the Adviser, including information on the investment performance of the Fund and the money market fund advised by the Adviser in which the Fund invests a portion of its assets.

The directors also considered all factors they believed relevant, including the specific matters discussed below. During the course of their deliberations, the directors evaluated, among other things, the reasonableness of the advisory fee. The directors did not identify any particular information that was all-important or controlling, and different directors may have attributed different weights to the various factors. The directors determined that the selection of the Adviser to manage the Fund and the overall arrangements between the Fund and the Adviser, as provided in the Advisory Agreement, including the advisory fee, were fair and reasonable in light of the services performed, expenses incurred and such other matters as the directors considered relevant in the exercise of their business judgment. The material factors and conclusions that formed the basis for the directors’ determinations included the following:

Nature, Extent and Quality of Services Provided

The directors considered the scope and quality of services provided by the Adviser under the Advisory Agreement, including the quality of the investment

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research capabilities of the Adviser and the other resources it has dedicated to performing services for the Fund. The directors noted that the Adviser from time to time reviews the Fund’s investment strategies and from time to time proposes changes intended to improve the Fund’s relative or absolute performance for the directors’ consideration. They also noted the professional experience and qualifications of the Fund’s portfolio management team and other senior personnel of the Adviser. The directors also considered that the Advisory Agreement provides that the Fund will reimburse the Adviser for the cost to it of providing certain clerical, accounting, administrative and other services to the Fund by employees of the Adviser or its affiliates. Requests for these reimbursements are made on a quarterly basis and subject to approval by the directors. Reimbursements, to the extent requested and paid, result in a higher rate of total compensation from the Fund to the Adviser than the fee rate stated in the Advisory Agreement. The directors noted that the methodology used to determine the reimbursement amounts had been reviewed by an independent consultant at the request of the directors. The quality of administrative and other services, including the Adviser’s role in coordinating the activities of the Fund’s other service providers, also was considered. The directors concluded that, overall, they were satisfied with the nature, extent and quality of services provided to the Fund under the Advisory Agreement.

Costs of Services Provided and Profitability

The directors reviewed a schedule of the revenues and expenses and related notes indicating the profitability of the Fund to the Adviser for calendar years 2019 and 2020 that had been prepared with an expense allocation methodology arrived at in consultation with an independent consultant at the request of the directors. The directors noted the assumptions and methods of allocation used by the Adviser in preparing fund-specific profitability data and understood that there are a number of potentially acceptable allocation methodologies for information of this type. The directors noted that the profitability information reflected all revenues and expenses of the Adviser’s relationship with the Fund, including those relating to its subsidiaries that provide transfer agency and distribution services to the Fund. The directors recognized that it is difficult to make comparisons of the profitability of the Advisory Agreement with the profitability of fund advisory contracts for unaffiliated funds because comparative information is not generally publicly available and is affected by numerous factors. The directors focused on the profitability of the Adviser’s relationship with the Fund before taxes and distribution expenses. The directors concluded that the Adviser’s level of profitability from its relationship with the Fund was not unreasonable.

Fall-Out Benefits

The directors considered the other benefits to the Adviser and its affiliates from their relationships with the Fund and the money market fund advised by the Adviser in which the Fund invests, including, but not limited to,

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benefits relating to 12b-1 fees and sales charges received by the Fund’s principal underwriter (which is a wholly owned subsidiary of the Adviser) in respect of certain classes of the Fund’s shares; and transfer agency fees paid by the Fund to a wholly owned subsidiary of the Adviser. The directors recognized that the Adviser’s profitability would be somewhat lower without these benefits. The directors understood that the Adviser also might derive reputational and other benefits from its association with the Fund.

Investment Results

In addition to the information reviewed by the directors in connection with the Meeting, the directors receive detailed performance information for the Fund at each regular Board meeting during the year.

At the Meeting, the directors reviewed performance information prepared by an independent service provider (the “15(c) service provider”), showing the performance of the Class A Shares of the Fund against a group of similar funds (“peer group”) and a larger group of similar funds (“peer universe”), each selected by the 15(c) service provider, and information prepared by the Adviser showing performance of the Class A Shares against a broad-based securities market index, in each case for the 1-, 3- and 5-year periods ended July 31, 2021 and (in the case of comparisons with the broad-based securities market index) for the period from inception. Based on their review, the directors concluded that the Fund’s investment performance was acceptable.

Advisory Fees and Other Expenses

The directors considered the advisory fee rate payable by the Fund to the Adviser and information prepared by the 15(c) service provider concerning advisory fee rates payable by other funds in the same category as the Fund. The directors recognized that it is difficult to make comparisons of advisory fees because there are variations in the services that are included in the fees payable by other funds. The directors compared the Fund’s contractual effective advisory fee rate with a peer group median. Taking into account the administrative expense reimbursement paid to the Adviser in the latest fiscal year, the directors noted that the Adviser’s total rate of compensation was equal to the median.

The directors also considered the Adviser’s fee schedule for other clients utilizing investment strategies similar to those of the Fund. For this purpose, they reviewed the relevant advisory fee information from the Adviser’s Form ADV and in a report from the Fund’s Senior Analyst and noted the differences between the Fund’s fee schedule, on the one hand, and the Adviser’s institutional fee schedule and the schedule of fees charged by the Adviser to any offshore funds and for services to any sub-advised funds utilizing investment strategies similar to those of the Fund, on the other. The directors noted that the Adviser may, in some

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cases, agree to fee rates with large institutional clients that are lower than those reviewed by the directors and that they had previously discussed with the Adviser its policies in respect of such arrangements.

The Adviser reviewed with the directors the significantly greater scope of the services it provides to the Fund relative to institutional, offshore fund and sub-advised fund clients. In this regard, the Adviser noted, among other things, that, compared to institutional and offshore or sub-advisory accounts, the Fund (i) demands considerably more portfolio management, research and trading resources due to significantly higher daily cash flows; (ii) has more tax and regulatory restrictions and compliance obligations; (iii) must prepare and file or distribute regulatory and other communications about fund operations; and (iv) must provide shareholder servicing to retail investors. The Adviser also reviewed the greater legal risks presented by the large and changing population of Fund shareholders who may assert claims against the Adviser in individual or class actions, and the greater entrepreneurial risk in offering new fund products, which require substantial investment to launch, may not succeed, and generally must be priced to compete with larger, more established funds resulting in lack of profitability to the Adviser until a new fund achieves scale. In light of the substantial differences in services rendered by the Adviser to institutional, offshore fund and sub-advised fund clients as compared to the Fund, and the different risk profile, the directors considered these fee comparisons inapt and did not place significant weight on them in their deliberations.

The directors noted that the Fund may invest in shares of exchange-traded funds (“ETFs”), subject to the restrictions and limitations of the Investment Company Act of 1940 as these may be varied as a result of exemptive orders issued, and rules adopted, by the SEC. The directors also noted that ETFs pay advisory fees pursuant to their advisory contracts, and that the Adviser had provided, and they had reviewed, information about the expense ratios of the relevant ETFs. The directors concluded, based on the Adviser’s explanation of how it uses ETFs when they are the most cost-effective way to obtain desired exposures, in some cases pending purchases of underlying securities, that the advisory fee for the Fund would be for services in addition to, rather than duplicative of, the services provided under the advisory contracts of the ETFs.

In connection with their review of the Fund’s advisory fee, the directors also considered the total expense ratio of the Class A shares of the Fund in comparison to a peer group and a peer universe selected by the 15(c) service provider. The Class A expense ratio of the Fund was based on the Fund’s latest fiscal year and the directors considered the Adviser’s expense cap for the Fund. The directors noted that it was likely that the expense ratios of some of the other funds in the Fund’s category were lowered by waivers or reimbursements by those funds’ investment advisers, which in some cases might be voluntary or temporary. The directors view expense ratio information as relevant to their evaluation of the

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Adviser’s services because the Adviser is responsible for coordinating services provided to the Fund by others. Based on their review, the directors concluded that the Fund’s expense ratio was acceptable.

Economies of Scale

The directors noted that the advisory fee schedule for the Fund contains breakpoints that reduce the fee rates on assets above specified levels. The directors took into consideration prior presentations by an independent consultant on economies of scale in the mutual fund industry and for the AB Funds, and presentations from time to time by the Adviser concerning certain of its views on economies of scale. The directors also had requested and received from the Adviser certain updates on economies of scale in advance of the Meeting. The directors believe that economies of scale may be realized (if at all) by the Adviser across a variety of products and services, and not only in respect of a single fund. The directors noted that there is no established methodology for setting breakpoints that give effect to the fund-specific services provided by a fund’s adviser and to the economies of scale that an adviser may realize in its overall mutual fund business or those components of it which directly or indirectly affect a fund’s operations. The directors observed that in the mutual fund industry as a whole, as well as among funds similar to the Fund, there is no uniformity or pattern in the fees and asset levels at which breakpoints (if any) apply. The directors also noted that the advisory agreements for many funds do not have breakpoints at all. Having taken these factors into account, the directors concluded that the Fund’s shareholders would benefit from a sharing of economies of scale in the event the Fund’s net assets exceed a breakpoint in the future.

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This page is not part of the Shareholder Report or the Financial Statements.

AB FAMILY OF FUNDS

US EQUITY

CORE

Core Opportunities Fund

Select US Equity Portfolio

Sustainable US Thematic Portfolio

GROWTH

Concentrated Growth Fund

Discovery Growth Fund

Growth Fund

Large Cap Growth Fund

Small Cap Growth Portfolio

VALUE

Discovery Value Fund

Equity Income Fund

Relative Value Fund

Small Cap Value Portfolio

Value Fund

INTERNATIONAL/ GLOBAL EQUITY

CORE

Global Core Equity Portfolio

International Strategic Core Portfolio

Sustainable Global Thematic Fund

Sustainable International Thematic Fund

Tax-Managed Wealth Appreciation Strategy

Wealth Appreciation Strategy

GROWTH

Concentrated International Growth Portfolio

VALUE

All China Equity Portfolio

International Value Fund

FIXED INCOME

MUNICIPAL

High Income Municipal Portfolio

Intermediate California Municipal Portfolio

Intermediate Diversified Municipal Portfolio

Intermediate New York Municipal Portfolio

Municipal Bond Inflation Strategy

Tax-Aware Fixed Income Opportunities Portfolio

National Portfolio

Arizona Portfolio

California Portfolio

Massachusetts Portfolio

Minnesota Portfolio

New Jersey Portfolio

New York Portfolio

Ohio Portfolio

Pennsylvania Portfolio

Virginia Portfolio

TAXABLE

Bond Inflation Strategy

Global Bond Fund

High Income Fund

High Yield Portfolio

Income Fund

Intermediate Duration Portfolio

Limited Duration High Income Portfolio

Short Duration Income Portfolio

Short Duration Portfolio

Sustainable Thematic Credit Portfolio

Total Return Bond Portfolio

ALTERNATIVES

All Market Real Return Portfolio

Global Real Estate Investment Fund

Select US Long/Short Portfolio

MULTI-ASSET

All Market Income Portfolio

All Market Total Return Portfolio

Emerging Markets Multi-Asset Portfolio

Global Risk Allocation Fund

Sustainable Thematic Balanced Portfolio¹

Tax-Managed All Market Income Portfolio

CLOSED-END FUNDS

AllianceBernstein Global High Income Fund

AllianceBernstein National Municipal Income Fund

EXCHANGE-TRADED FUNDS

Tax-Aware Short Duration Municipal ETF

Ultra Short Income ETF

We also offer Government Money Market Portfolio, which serves as the money market fund exchange vehicle for the AB mutual funds. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.abfunds.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

1 Prior to December 1, 2021, Sustainable Thematic Balanced Portfolio was named Conservative Wealth Strategy.

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AB LIMITED DURATION HIGH INCOME PORTFOLIO

1345 Avenue of the Americas

New York, NY 10105

800 221 5672

LDHI-0151-0922                

ITEM 2. CODE OF ETHICS.

(a) The registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer and principal accounting officer. A copy of the registrant’s code of ethics is filed herewith as Exhibit 12(a)(1).

(b) During the period covered by this report, no material amendments were made to the provisions of the code of ethics adopted in 2(a) above.

(c) During the period covered by this report, no implicit or explicit waivers to the provisions of the code of ethics adopted in 2(a) above were granted.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The registrant’s Board of Directors has determined that independent directors Garry L. Moody, Marshall C. Turner, Jr. and Jorge A. Bermudez qualify as audit committee financial experts.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) - (c) The following table sets forth the aggregate fees billed by the independent registered public accounting firm Ernst & Young LLP, for the Fund’s last two fiscal years for professional services rendered for: (i) the audit of the Fund’s annual financial statements included in the Fund’s annual report to stockholders; (ii) assurance and related services that are reasonably related to the performance of the audit of the Fund’s financial statements and are not reported under (i), which include advice and education related to accounting and auditing issues and quarterly press release review (for those Funds which issue press releases), and preferred stock maintenance testing (for those Funds that issue preferred stock); and (iii) tax compliance, tax advice and tax return preparation.

		Audit Fees		Audit-Related Fees		Tax Fees
AB Limited Duration High Income	2021	$	111,484	$	—	$	34,604
	2022	$	117,058	$	—	$	23,787

(d) Not applicable.

(e) (1) Beginning with audit and non-audit service contracts entered into on or after May 6, 2003, the Fund’s Audit Committee policies and procedures require the pre-approval of all audit and non-audit services provided to the Fund by the Fund’s independent registered public accounting firm. The Fund’s Audit Committee policies and procedures also require pre-approval of all audit and non-audit services provided to the Adviser and Service Affiliates to the extent that these services are directly related to the operations or financial reporting of the Fund.

(e) (2) All of the amounts for Audit Fees, Audit-Related Fees and Tax Fees in the table under Item 4 (a) – (c) are for services pre-approved by the Fund’s Audit Committee.

(f) Not applicable.

(g) The following table sets forth the aggregate non-audit services provided to the Fund, the Fund’s Adviser and entities that control, are controlled by or under common control with the Adviser that provide ongoing services to the Fund:

		All Fees for Non-Audit Services Provided to the Portfolio, the Adviser and Service Affiliates		Total Amount of Foregoing Column Pre-approved by the Audit Committee (Portion Comprised of Audit Related Fees) (Portion Comprised of Tax Fees)
AB Limited Duration High Income	2021	$	1,109,744	$	34,604
				$	—
				$	(34,604	)
	2022	$	1,956,245	$	23,787
				$	—
				$	(23,787	)

(h) The Audit Committee of the Fund has considered whether the provision of any non-audit services not pre-approved by the Audit Committee provided by the Fund’s independent registered public accounting firm to the Adviser and Service Affiliates is compatible with maintaining the auditor’s independence.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable to the registrant.

ITEM 6. INVESTMENTS.

Please see Schedule of Investments contained in the Report to Shareholders included under Item 1 of this Form N-CSR.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to the registrant.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board of Directors since the Fund last provided disclosure in response to this item.

ITEM 11. 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 changes in the registrant’s internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 13. EXHIBITS.

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

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
12 (a) (1)	Code of Ethics that is subject to the disclosure of Item 2 hereof
12 (b) (1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
12 (b) (2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
12 (c)	Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 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): AB Bond Fund, Inc.

By:	/s/ Onur Erzan
	Onur Erzan
	President

Date: March 3, 2023

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/ Onur Erzan
	Onur Erzan
	President

Date: March 3, 2023

By:	/s/ Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer

Date: March 3, 2023

EX-99.CODE ETH

Exhibit 12(a) (1)

CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND SENIOR FINANCIAL OFFICERS

I. Covered Officers/Purpose of the Code

The AllianceBernstein Mutual Fund Complex’s code of ethics (this “Code”) for the investment companies within the complex (collectively, the “Funds” and each, a “Company”) applies to each Company’s Principal Executive Officer, Principal Financial and Accounting Officer and Controller (the “Covered Officers,” each of whom is set forth in Exhibit A) for the purpose of promoting:

• honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

• full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the Securities and Exchange Commission (“SEC”) and in other public communications made by the Company;

• compliance with applicable laws and governmental rules and regulations;

• the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

• accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

II. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

Overview. A “conflict of interest” occurs when a Covered Officer’s private interest interferes with the interests of, or his service to, the Company. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with the Company. For the purposes of this Code, members of the Covered Officer’s family include his or her spouse, children, stepchildren, financial dependents, parents and stepparents.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Company and already are subject to conflict of interest provisions in the Investment Company Act of 1940 (“Investment Company Act”) and the Investment Advisers Act of 1940 (“Investment Advisers Act”). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the Company because of their status as “affiliated persons” of the Company. The Company’s and the investment adviser’s compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Company and the investment adviser of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Company or for the adviser, or for both), be involved in establishing policies and implementing decisions that will have different effects on the adviser and the Company. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Company and the adviser and is consistent with the performance by the Covered Officers of their duties as officers of the Company. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Company’s Board of Directors or Trustees (the “Directors”) that the Covered Officers may also be officers or employees of one or more of the other Funds or of other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the Company.

Each Covered Officer must:

• not use his personal influence or personal relationships improperly to influence investment decisions or financial reporting by the Company whereby the Covered Officer would benefit personally to the detriment of the Company;

• not cause the Company to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Company;

• not use material non-public knowledge of portfolio transactions made or contemplated for the Company to trade personally or cause others to trade personally in contemplation of the market effect of such transactions;

2

There are some conflict of interest situations, whether involving a Covered Officer directly or a member of his family, that should always be discussed with the General Counsel of Alliance Capital Management L.P. (the “General Counsel”), if material. Examples of these include:

• service as a director on the board of directors or trustees of any public or private company (other than a not-for-profit organization);

• the receipt of any non-nominal gifts;

• the receipt of any entertainment from any company with which the Company has current or prospective business dealings unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;

• any ownership interest in, or any consulting or employment relationship with, any of the Company’s service providers, other than its investment adviser, principal underwriter, administrator or any affiliated person thereof;

• a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Company for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer’s employment, such as compensation or equity ownership.

III. Disclosure and Compliance

• Each Covered Officer should familiarize himself with the disclosure requirements and disclosure controls and procedures generally applicable to the Company;

• each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the Company to others, whether within or outside the Company, including to the Company’s directors and auditors, and to governmental regulators and self-regulatory organizations;

• each Covered Officer should, to the extent appropriate within his area of responsibility, consult with other officers and employees of the Funds and the adviser with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Funds file with, or submit to, the SEC and in other public communications made by the Funds; and

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• it is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

IV. Reporting and Accountability

Each Covered Officer must:

• upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to the General Counsel that he has received, read, and understands the Code;

• annually thereafter affirm to the General Counsel that he has complied with the requirements of the Code;

• complete at least annually a questionnaire relating to affiliations or other relationships that may give rise to conflicts of interest;

• not retaliate against any other Covered Officer or any employee of the Company or their affiliated persons for reports of potential violations that are made in good faith; and

• notify the General Counsel promptly if he knows of any violation of this Code. Failure to do so is itself a violation of this Code.

The General Counsel is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. However, waivers sought by a Covered Officer will be considered by the Company’s Audit Committee (the “Committee”).

The Company will follow these procedures in investigating and enforcing this Code:

• the General Counsel will take all appropriate action to investigate any potential violations reported to him;

• if, after such investigation, the General Counsel believes that no material violation has occurred, the General Counsel is not required to take any further action;

• any matter that the General Counsel believes is a material violation will be reported to the Committee;

• if the Committee concurs that a material violation has occurred, it will inform and make a recommendation to the Directors, who will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer;

• the Committee will be responsible for granting waivers, as appropriate; and

• any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

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V. Other Policies and Procedures

This Code shall be the sole code of ethics adopted by the Company for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the Company, the Company’s adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, it is understood that this Code is in all respects separate and apart from, and operates independently of, any such policies and procedures. In particular, the Company’s and its investment adviser’s and principal underwriter's codes of ethics under Rule 17j-l under the Investment Company Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

VI. Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Directors, including a majority of independent directors.

VII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Directors, the investment adviser, their counsel, counsel to the Company and, if deemed appropriate by the Directors of the Company, to the Directors of the other Funds.

VIII.  Internal  Use

The Code is intended solely for internal use by the Funds and does not constitute an admission, by or on behalf of any Company, as to any fact, circumstance, or legal conclusion.

Date: July 22, 2003, as amended March 17, 2004

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Exhibit A

Persons Covered by this Code of Ethics

Principal Executive Officer

Principal Financial and Accounting Officer

Controller

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EX-99.CERT

Exhibit 12(b)(1)

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

I, Onur Erzan, President of AB Bond Fund, Inc., certify that:

1. I have reviewed this report on Form N-CSR of AB Bond Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 3, 2023

By:	/s/ Onur Erzan
	Onur Erzan
	President

Exhibit 12(b)(2)

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

I, Joseph J. Mantineo, Treasurer and Chief Financial Officer of AB Bond Fund, Inc., certify that:

1. I have reviewed this report on Form N-CSR of AB Bond Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information ; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: March 3, 2023

By:	/s/ Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer

EX-99.906 CERT

EXHIBIT 12(c)

CERTIFICATION PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT

Pursuant to 18 U.S.C. 1350, each of the undersigned, being the Principal Executive Officer and Principal Financial Officer of AB Bond Fund, Inc. (the “Registrant”), hereby certifies that the Registrant’s report on Form N-CSR for the period ended September 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: March 3, 2023

By:	/s/ Onur Erzan
	Onur Erzan
	President
By:	/s/ Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer

This certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of the Report or as a separate disclosure document.

A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.