AB Global Risk Allocation Fund, Inc.

Consolidated Portfolio of Investments

August 31, 2021 (unaudited)

	Principal Amount (000)			U.S. $ Value
INFLATION-LINKED SECURITIES – 49.6%
Japan – 9.5%
Japanese Government CPI Linked Bond Series 21 0.10%, 03/10/2026		JPY	2,438,287	$	22,577,455
United States – 40.1%
U.S. Treasury Inflation Index 0.25%, 01/15/2025 (TIPS)		U.S.$	15,592		16,849,641
0.375%, 07/15/2025 (TIPS)(a)			64,721		71,071,592
0.375%, 01/15/2027 (TIPS)			6,331		7,065,477
					94,986,710
Total Inflation-Linked Securities (cost $111,488,347)					117,564,165
	Shares
COMMON STOCKS – 31.1%
Information Technology – 5.4%
Communications Equipment – 0.2%
Cisco Systems, Inc./Delaware			2,148		126,775
F5 Networks, Inc.(b)			462		94,049
Juniper Networks, Inc.			2,077		60,191
Motorola Solutions, Inc.			840		205,145
Nokia Oyj(b)			5,115		30,727
Telefonaktiebolaget LM Ericsson - Class B			4,594		54,416
					571,303
Electronic Equipment, Instruments & Components – 0.4%
Amphenol Corp. - Class A			2,168		166,134
Arrow Electronics, Inc.(b)			775		93,945
Avnet, Inc.			1,566		63,360
CDW Corp./DE			1,016		203,820
Corning, Inc.			2,176		87,018
Flex Ltd.(b)			3,294		61,203
Hexagon AB			5,852		101,478
TE Connectivity Ltd.			878		131,893
Trimble, Inc.(b)			1,320		124,370
Vontier Corp.(b)			269		9,784
					1,043,005
IT Services – 1.5%
Accenture PLC - Class A			613		206,311
Akamai Technologies, Inc.(b)			806		91,279
Alliance Data Systems Corp.			215		21,094
Amadeus IT Group SA - Class A(b)			787		48,068
Atos SE			247		12,842
Automatic Data Processing, Inc.			831		173,712
Black Knight, Inc.(b)			362		27,393
Broadridge Financial Solutions, Inc.			1,174		202,186
Capgemini SE			360		80,923
CGI, Inc.(b)			1,595		142,553

1

Company	Shares		U.S. $ Value
Cognizant Technology Solutions Corp. - Class A		1,099	$	83,865
DXC Technology Co.(b)		635		23,317
Edenred		463		26,261
Fidelity National Information Services, Inc.		1,949		249,024
Fiserv, Inc.(b)		2,368		278,927
FleetCor Technologies, Inc.(b)		249		65,557
Gartner, Inc.(b)		575		177,525
Global Payments, Inc.		1,430		232,575
International Business Machines Corp.		502		70,451
Mastercard, Inc. - Class A		649		224,703
Paychex, Inc.		1,472		168,500
PayPal Holdings, Inc.(b)		1,263		364,578
Sabre Corp.(b) (c)		2,420		27,177
VeriSign, Inc.(b)		824		178,198
Visa, Inc. - Class A(c)		718		164,494
Western Union Co. (The) - Class W		3,117		67,452
Worldline SA/France(b) (d)		725		64,556
				3,473,521
Semiconductors & Semiconductor Equipment – 1.2%
Advanced Micro Devices, Inc.(b)		2,015		223,101
Analog Devices, Inc.		1,479		240,990
Applied Materials, Inc.		967		130,671
ASML Holding NV		269		224,343
Broadcom, Inc.		205		101,928
Infineon Technologies AG		1,599		68,082
Intel Corp.		1,884		101,849
KLA Corp.		609		207,036
Lam Research Corp.		384		232,251
Marvell Technology, Inc.		2,554		156,279
Microchip Technology, Inc.		789		124,157
Micron Technology, Inc.(b)		1,172		86,376
NVIDIA Corp.		1,024		229,222
NXP Semiconductors NV		516		111,007
Qorvo, Inc.(b)		444		83,485
QUALCOMM, Inc.		984		144,343
Skyworks Solutions, Inc.		431		79,071
STMicroelectronics NV		1,365		60,806
Texas Instruments, Inc.		847		161,701
Xilinx, Inc.		811		126,184
				2,892,882
Software – 1.8%
Adobe, Inc.(b)		449		298,001
ANSYS, Inc.(b)		635		232,004
Autodesk, Inc.(b)		395		122,486
BlackBerry Ltd.(b)		2,745		31,287
Cadence Design Systems, Inc.(b)		1,796		293,610
CDK Global, Inc.		1,015		42,224
Cerence, Inc.(b) (c)		343		37,195
Citrix Systems, Inc.		604		62,133
Constellation Software, Inc./Canada		106		179,644
Dassault Systemes SE		3,230		184,485
Fortinet, Inc.(b)		1,023		322,388
Intuit, Inc.		570		322,683

2

Company	Shares		U.S. $ Value
Micro Focus International PLC (ADR)		345	$	2,084
Microsoft Corp.		995		300,371
NortonLifeLock, Inc.		1,835		48,738
Nuance Communications, Inc.(b)		2,749		151,332
Open Text Corp.		1,658		90,952
Oracle Corp.		1,536		136,904
Palo Alto Networks, Inc.(b)		297		136,929
Sage Group PLC (The)		5,404		55,188
salesforce.com, Inc.(b)		534		141,654
SAP SE		466		69,998
ServiceNow, Inc.(b)		428		275,478
Splunk, Inc.(b)		575		87,900
Synopsys, Inc.(b)		974		323,602
VMware, Inc. - Class A(b) (c)		527		78,455
Workday, Inc. - Class A(b)		384		104,893
				4,132,618
Technology Hardware, Storage & Peripherals – 0.3%
Apple, Inc.		1,628		247,179
Dell Technologies, Inc. - Class C(b)		1,368		133,325
Hewlett Packard Enterprise Co.		3,043		47,045
HP, Inc.		2,579		76,700
NetApp, Inc.		1,082		96,222
Seagate Technology Holdings PLC		978		85,663
Topicus.com, Inc.(b)		197		19,991
Western Digital Corp.(b)		465		29,388
Xerox Holdings Corp.		1,717		38,650
				774,163
				12,887,492
Financials – 4.7%
Banks – 1.2%
ABN AMRO Bank NV (GDR)(b) (d)		1,125		15,673
Agricultural Bank of China Ltd. - Class H		420,000		140,800
Banco Bilbao Vizcaya Argentaria SA(b)		3,189		20,872
Banco de Sabadell SA(b)		16,277		11,604
Banco Santander SA(b)		3,967		14,627
Bank of America Corp.		1,350		56,362
Bank of China Ltd. - Class H		357,000		125,105
Bank of Communications Co., Ltd. - Class H		226,000		129,792
Bank of Ireland Group PLC(b)		2,334		14,609
Bank of Montreal		747		74,342
Bank of Nova Scotia (The)		862		53,395
Bankinter SA		3,395		19,869
Barclays PLC		10,110		25,633
BNP Paribas SA		331		20,969
CaixaBank SA		8,772		27,250
Canadian Imperial Bank of Commerce		584		67,183
China CITIC Bank Corp., Ltd. - Class H		265,000		121,827
China Construction Bank Corp. - Class H		233,000		167,890
China Everbright Bank Co., Ltd. - Class H		345,000		123,656
China Minsheng Banking Corp., Ltd. - Class H		212,400		88,705
CIT Group, Inc.		697		38,628
Citigroup, Inc.		564		40,557
Citizens Financial Group, Inc.		745		32,624

3

Company	Shares		U.S. $ Value
Comerica, Inc.		403	$	29,786
Commerzbank AG(b)		2,045		12,798
Credit Agricole SA		1,641		23,686
Danske Bank A/S		858		14,398
DNB Bank ASA		1,818		38,372
Erste Group Bank AG		821		32,782
Fifth Third Bancorp		1,167		45,350
First Republic Bank/CA		402		79,974
HSBC Holdings PLC		5,317		28,078
Huntington Bancshares, Inc./OH		2,387		37,070
ING Groep NV		1,574		21,712
Intesa Sanpaolo SpA		18,206		51,520
JPMorgan Chase & Co.		448		71,658
KBC Group NV		411		34,540
KeyCorp		1,685		34,239
Lloyds Banking Group PLC		36,308		21,736
M&T Bank Corp.		381		53,344
National Bank of Canada		1,132		89,849
Natwest Group PLC		6,922		20,212
Nedbank Group Ltd.(b)		313		3,986
Nordea Bank Abp		3,090		36,292
Nordea Bank Abp (Finland)		88		1,032
People’s United Financial, Inc.		2,269		37,280
PNC Financial Services Group, Inc. (The)		291		55,610
Raiffeisen Bank International AG		1,044		25,031
Regions Financial Corp.		1,804		36,856
Royal Bank of Canada		718		73,755
Signature Bank/New York NY		215		55,756
Skandinaviska Enskilda Banken AB - Class A		3,315		44,461
Societe Generale SA		422		13,282
Standard Chartered PLC		2,940		18,334
Svenska Handelsbanken AB - Class A		2,923		32,845
Swedbank AB - Class A		1,696		32,695
Toronto-Dominion Bank (The)		1,045		67,861
Truist Financial Corp.		1,653		94,320
UniCredit SpA		1,079		13,454
US Bancorp		800		45,912
Wells Fargo & Co.		690		31,533
				2,893,371
Capital Markets – 1.3%
3i Group PLC		4,463		82,079
Abrdn PLC		11,793		43,088
Affiliated Managers Group, Inc.		225		38,275
Ameriprise Financial, Inc.		250		68,228
Bank of New York Mellon Corp. (The)		853		47,103
BlackRock, Inc. - Class A		109		102,819
Brookfield Asset Management, Inc.(c)		41		2,278
Brookfield Asset Management, Inc. - Class A		1,867		103,868
Charles Schwab Corp. (The)		1,564		113,937
CI Financial Corp.		2,261		43,889
CITIC Securities Co., Ltd. - Class H		80,000		202,622
CME Group, Inc. - Class A		377		76,049
Credit Suisse Group AG		1,310		13,878
Deutsche Bank AG(b)		1,113		13,764
Deutsche Boerse AG		355		61,222
Franklin Resources, Inc.		837		27,152
Goldman Sachs Group, Inc. (The)		162		66,989
Haitong Securities Co., Ltd. - Class H		98,800		91,284

4

Company	Shares		U.S. $ Value
Hargreaves Lansdown PLC		1,868	$	38,794
IGM Financial, Inc.		1,289		47,007
Intercontinental Exchange, Inc.		727		86,898
Invesco Ltd.		1,109		28,080
Investec PLC		4,737		19,922
Jefferies Financial Group, Inc.		1,464		54,109
Julius Baer Group Ltd.		634		43,273
London Stock Exchange Group PLC		1,249		136,820
Moody’s Corp.		325		123,750
Morgan Stanley		1,891		197,477
MSCI, Inc. - Class A		361		229,083
Nasdaq, Inc.		753		147,422
Ninety-One PLC		2,368		8,341
Northern Trust Corp.		412		48,830
Onex Corp.		648		45,403
Partners Group Holding AG		68		120,564
Quilter PLC(d)		3,254		6,763
Raymond James Financial, Inc.		418		58,478
S&P Global, Inc.		311		138,028
Schroders PLC		944		49,079
SEI Investments Co.		695		43,653
St. James’s Place PLC		2,130		47,168
State Street Corp.		421		39,115
T Rowe Price Group, Inc.		627		140,367
UBS Group AG		1,814		30,260
				3,127,208
Consumer Finance – 0.2%
Ally Financial, Inc.		1,228		64,961
American Express Co.		516		85,635
Capital One Financial Corp.		376		62,405
Discover Financial Services		568		72,829
Navient Corp.(c)		1,339		31,078
Provident Financial PLC(b)		1,368		6,706
Synchrony Financial		1,033		51,392
				375,006
Diversified Financial Services – 0.3%
Berkshire Hathaway, Inc. - Class B(b)		231		66,013
Element Fleet Management Corp.		3,194		35,215
EXOR NV		480		40,048
Groupe Bruxelles Lambert SA		1,242		142,291
IHS Markit Ltd.		1,109		133,745
Industrivarden AB - Class C		1,828		63,746
Investor AB		3,608		86,298
Kinnevik AB(b)		1,368		53,600
L E Lundbergforetagen AB - Class B		856		54,692
M&G PLC		1,555		4,405
Voya Financial, Inc.		775		50,360
Wendel SE		294		42,664
				773,077
Insurance – 1.6%
Admiral Group PLC		1,243		61,760
Aegon NV		4,545		22,442
Aflac, Inc.		1,388		78,672
Ageas SA/NV		832		41,577
Alleghany Corp.(b)		66		44,662

5

Company	Shares		U.S. $ Value
Allianz SE		222	$	52,117
Allstate Corp. (The)		643		86,985
American International Group, Inc.		720		39,283
Aon PLC		435		124,784
Arch Capital Group Ltd.(b)		1,779		73,117
Arthur J Gallagher & Co.		958		137,588
Assicurazioni Generali SpA		1,915		39,068
Assurant, Inc.		420		71,446
Aviva PLC		5,185		28,819
Axis Capital Holdings Ltd.		710		36,331
Baloise Holding AG		288		45,925
Brighthouse Financial, Inc.(b)		60		2,938
Brookfield Asset Management Reinsurance Partners Ltd.(b)		12		733
China Life Insurance Co., Ltd. - Class H		44,000		73,777
Chubb Ltd.		371		68,234
Cincinnati Financial Corp.		705		86,997
CNP Assurances		1,623		27,810
Direct Line Insurance Group PLC		8,791		37,347
Everest Re Group Ltd.		214		56,689
Fairfax Financial Holdings Ltd.		85		37,625
Fidelity National Financial, Inc.		1,183		57,766
Gjensidige Forsikring ASA		2,409		56,314
Globe Life, Inc.		598		57,450
Great-West Lifeco, Inc.		2,017		62,397
Hannover Rueck SE		383		70,482
Hartford Financial Services Group, Inc. (The)		878		59,019
iA Financial Corp., Inc.		1,008		55,895
Intact Financial Corp.		960		130,747
Legal & General Group PLC		13,473		50,047
Lincoln National Corp.		446		30,618
Linea Directa Aseguradora SA Cia de Seguros y Reaseguros		3,395		7,179
Loews Corp.		1,014		56,652
Manulife Financial Corp.		2,171		42,279
Mapfre SA		8,898		19,201
Markel Corp.(b)		39		49,540
Marsh & McLennan Cos., Inc.		753		118,372
MetLife, Inc.		661		40,982
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		212		61,876
New China Life Insurance Co., Ltd. - Class H		37,000		108,919
NN Group NV		985		51,095
Old Mutual Ltd.		9,763		10,220
Poste Italiane SpA(d)		5,111		69,295
Power Corp. of Canada		3,725		128,551
Principal Financial Group, Inc.		589		39,351
Progressive Corp. (The)		1,147		110,502
Prudential Financial, Inc.		336		35,576
Prudential PLC		1,555		32,398
Reinsurance Group of America, Inc. - Class A		376		43,548
RenaissanceRe Holdings Ltd.		388		60,811
Sampo Oyj - Class A		886		45,784
SCOR SE		791		24,276
Sun Life Financial, Inc.		1,344		69,200
Swiss Life Holding AG		132		68,802
Swiss Re AG		469		43,121
Travelers Cos., Inc. (The)		464		74,105
Trisura Group Ltd.(b)		28		1,008

6

Company	Shares		U.S. $ Value
Tryg A/S		4,038	$	99,982
UnipolSai Assicurazioni SpA		12,165		34,994
Unum Group		830		22,095
Willis Towers Watson PLC		352		77,693
WR Berkley Corp.		1,102		82,992
Zurich Insurance Group AG		154		67,574
				3,805,434
Mortgage Real Estate Investment Trusts (REITs) – 0.1%
AGNC Investment Corp.		2,408		39,274
Annaly Capital Management, Inc.		3,658		31,788
				71,062
Thrifts & Mortgage Finance – 0.0%
New York Community Bancorp, Inc.		3,312		41,466
				11,086,624
Health Care – 3.6%
Biotechnology – 0.3%
AbbVie, Inc.		1,379		166,556
Alkermes PLC(b)		331		10,347
Amgen, Inc.		320		72,170
Biogen, Inc.(b)		169		57,276
BioMarin Pharmaceutical, Inc.(b)		341		28,716
Genmab A/S(b)		279		132,171
Gilead Sciences, Inc.		703		51,164
Grifols SA		2,271		55,518
Idorsia Ltd.(b)		213		5,024
Incyte Corp.(b)		189		14,457
Regeneron Pharmaceuticals, Inc.(b)		66		44,444
Seagen, Inc.(b)		303		50,783
United Therapeutics Corp.(b)		217		46,629
Vertex Pharmaceuticals, Inc.(b)		246		49,271
				784,526
Health Care Equipment & Supplies – 1.3%
Abbott Laboratories		1,269		160,364
Alcon, Inc.		184		15,154
Align Technology, Inc.(b)		301		213,409
Arjo AB - Class B		2,759		35,394
Baxter International, Inc.		1,040		79,269
Becton Dickinson and Co.		362		91,115
Boston Scientific Corp.(b)		1,769		79,870
Coloplast A/S - Class B		742		128,558
Cooper Cos., Inc. (The)		246		110,875
Danaher Corp.		776		251,548
Demant A/S(b)		2,432		137,950
DENTSPLY SIRONA, Inc.		989		61,021
DexCom, Inc.(b)		430		227,651
Edwards Lifesciences Corp.(b)		960		112,493
Getinge AB - Class B		2,759		113,242
Hologic, Inc.(b)		1,129		89,360
IDEXX Laboratories, Inc.(b)		330		222,341
Intuitive Surgical, Inc.(b)		183		192,802

7

Company	Shares		U.S. $ Value
Koninklijke Philips NV		488	$	22,489
Medtronic PLC		683		91,167
ResMed, Inc.		778		226,032
Smith & Nephew PLC		4,175		79,947
Sonova Holding AG		435		167,635
Stryker Corp.		486		134,671
Teleflex, Inc.		270		106,774
Zimmer Biomet Holdings, Inc.		375		56,419
				3,207,550
Health Care Providers & Services – 0.6%
AmerisourceBergen Corp. - Class A		482		58,905
Anthem, Inc.		274		102,785
Cardinal Health, Inc.		702		36,848
Centene Corp.(b)		956		60,209
Cigna Corp.		492		104,132
Covetrus, Inc.(b)		280		6,325
CVS Health Corp.		1,161		100,299
DaVita, Inc.(b)		632		82,647
Fresenius Medical Care AG & Co. KGaA		755		58,052
Fresenius SE & Co. KGaA		693		36,031
HCA Healthcare, Inc.		514		130,032
Henry Schein, Inc.(b)		702		53,064
Humana, Inc.		169		68,516
Laboratory Corp. of America Holdings(b)		407		123,476
McKesson Corp.		241		49,198
Mediclinic International PLC(b)		5,230		22,538
MEDNAX, Inc.(b)		637		20,454
Patterson Cos., Inc.		1,039		31,835
Quest Diagnostics, Inc.		556		84,973
UnitedHealth Group, Inc.		310		129,044
Universal Health Services, Inc. - Class B		362		56,385
				1,415,748
Health Care Technology – 0.0%
Cerner Corp.		701		53,522
Life Sciences Tools & Services – 0.6%
Agilent Technologies, Inc.		816		143,183
Eurofins Scientific SE		1,160		164,593
Illumina, Inc.(b)		183		83,660
IQVIA Holdings, Inc.(b)		646		167,786
Lonza Group AG		278		235,112
Mettler-Toledo International, Inc.(b)		105		163,047
QIAGEN NV(b)		1,521		84,175
Thermo Fisher Scientific, Inc.		346		192,013
Waters Corp.(b)		286		118,410
				1,351,979
Pharmaceuticals – 0.8%
AstraZeneca PLC		729		85,252
AstraZeneca PLC (Sponsored ADR)		492		28,674
Bausch Health Cos., Inc.(b)		834		24,300
Bayer AG		526		29,262
Bristol-Myers Squibb Co.		1,220		81,569
Eli Lilly & Co.		693		178,995

8

Company	Shares		U.S. $ Value
GlaxoSmithKline PLC		3,649	$	73,402
Hikma Pharmaceuticals PLC		2,641		92,183
Jazz Pharmaceuticals PLC(b)		223		29,371
Johnson & Johnson		554		95,914
Mallinckrodt PLC(b)		476		100
Merck & Co., Inc.		863		65,838
Merck KGaA		536		127,352
Novartis AG		923		85,369
Novo Nordisk A/S - Class B		1,284		128,541
Organon & Co.		86		2,914
Orion Oyj - Class B		948		38,669
Perrigo Co. PLC		428		17,527
Pfizer, Inc.		2,016		92,877
Roche Holding AG		268		107,617
Sanofi		604		62,598
Takeda Pharmaceutical Co., Ltd. (Sponsored ADR)(c)		1,184		19,642
UCB SA		558		63,840
Viatris, Inc.		1,277		18,682
Vifor Pharma AG		380		54,107
Zoetis, Inc.		996		203,742
				1,808,337
				8,621,662
Industrials – 3.3%
Aerospace & Defense – 0.5%
Airbus SE(b)		181		24,760
Babcock International Group PLC(b)		1,434		7,161
BAE Systems PLC		2,639		20,617
Boeing Co. (The)(b)		219		48,070
Bombardier, Inc. - Class B(b)		7,317		10,671
CAE, Inc.(b)		2,809		81,110
Dassault Aviation SA		11		12,419
General Dynamics Corp.		241		48,275
Howmet Aerospace, Inc.		824		26,162
Huntington Ingalls Industries, Inc.		180		36,751
L3Harris Technologies, Inc.		1,019		237,437
Leonardo SpA(b)		684		5,569
Lockheed Martin Corp.		198		71,240
Meggitt PLC(b)		2,664		30,406
Northrop Grumman Corp.		198		72,805
Raytheon Technologies Corp.		1,280		108,493
Rolls-Royce Holdings PLC(b)		5,507		8,685
Safran SA		174		21,828
Teledyne Technologies, Inc.(b)		130		60,239
Textron, Inc.		720		52,322
Thales SA		192		19,501
TransDigm Group, Inc.(b)		93		56,495
				1,061,016
Air Freight & Logistics – 0.2%
CH Robinson Worldwide, Inc.		534		48,092
Deutsche Post AG		500		35,155
DSV PANALPINA A/S		295		75,143
Expeditors International of Washington, Inc.		744		92,732
FedEx Corp.		189		50,215

9

Company	Shares		U.S. $ Value
Kuehne & Nagel International AG		139	$	50,800
Royal Mail PLC		3,581		24,389
United Parcel Service, Inc. - Class B		471		92,142
				468,668
Airlines – 0.0%
American Airlines Group, Inc.(b)		507		10,109
Delta Air Lines, Inc.(b)		566		22,889
Deutsche Lufthansa AG(b)		656		6,572
easyJet PLC(b)		784		8,584
International Consolidated Airlines Group SA(b)		4,711		10,378
Southwest Airlines Co.(b)		528		26,284
United Airlines Holdings, Inc.(b)		315		14,651
				99,467
Building Products – 0.2%
A O Smith Corp.		711		51,704
Assa Abloy AB - Class B		848		27,137
Carrier Global Corp.		587		33,811
Cie de Saint-Gobain		254		18,413
Fortune Brands Home & Security, Inc.		681		66,309
Geberit AG		50		41,755
Johnson Controls International PLC		1,024		76,595
Masco Corp.		1,061		64,424
Otis Worldwide Corp.		293		27,021
Resideo Technologies, Inc.(b)		63		2,031
				409,200
Commercial Services & Supplies – 0.3%
Cintas Corp.		386		152,767
G4S PLC(b) (e) (f)		3,969		13,369
ISS A/S(b)		413		9,504
Republic Services, Inc. - Class A		966		119,910
Securitas AB - Class B		1,405		23,373
Societe BIC SA		160		10,652
Stericycle, Inc.(b)		372		25,891
Waste Connections, Inc.		891		115,126
Waste Management, Inc.		916		142,081
				612,673
Construction & Engineering – 0.1%
ACS Actividades de Construccion y Servicios SA		514		13,876
Boskalis Westminster		549		18,072
Bouygues SA		319		13,358
China Railway Group Ltd. - Class H		179,000		85,727
Eiffage SA		192		19,977
Epiroc AB - Class A		436		9,568
Epiroc AB - Class B		520		9,883
Ferrovial SA		1,050		30,407
Fluor Corp.(b) (c)		716		11,929
HOCHTIEF AG		79		6,319
Metso Outotec Oyj		1,685		18,018
Orascom Construction PLC		173		817
Skanska AB - Class B		763		21,996
SNC-Lavalin Group, Inc.		1,097		29,702

10

Company	Shares		U.S. $ Value
Vinci SA		175	$	18,776
				308,425
Electrical Equipment – 0.2%
ABB Ltd.		788		29,152
Acuity Brands, Inc.		140		25,834
AMETEK, Inc.		672		91,372
Eaton Corp. PLC		547		92,093
Emerson Electric Co.		688		72,584
Legrand SA		296		33,961
nVent Electric PLC		481		16,527
Prysmian SpA		537		20,218
Rockwell Automation, Inc.		235		76,481
Schneider Electric SE		198		35,376
Sensata Technologies Holding PLC(b)		858		50,777
Siemens Energy AG(b)		59		1,712
Vestas Wind Systems A/S		760		30,686
				576,773
Industrial Conglomerates – 0.1%
3M Co.		284		55,306
DCC PLC		173		14,706
General Electric Co.		199		20,977
Honeywell International, Inc.		378		87,662
Melrose Industries PLC		8,829		20,387
Roper Technologies, Inc.		184		88,923
Siemens AG		118		19,575
Smiths Group PLC		1,381		27,409
				334,945
Machinery – 0.6%
AGCO Corp.		496		68,260
Alfa Laval AB		849		34,474
Alstom SA		671		28,848
ANDRITZ AG		354		20,369
Atlas Copco AB - Class A		436		29,974
Atlas Copco AB - Class B		520		30,114
Caterpillar, Inc.		323		68,111
CNH Industrial NV		1,193		19,721
Cummins, Inc.		221		52,152
Deere & Co.		289		109,251
Dover Corp.		428		74,626
Electrolux Professional AB - Class B(b)		748		5,847
Flowserve Corp.		599		23,283
Fortive Corp.		674		49,788
GEA Group AG		378		17,448
Illinois Tool Works, Inc.		349		81,268
IMI PLC		1,187		29,766
Ingersoll Rand, Inc.(b)		413		21,897
Kone Oyj - Class B		326		27,052
MAN SE		62		5,410
Middleby Corp. (The)(b)		251		45,918
Neles Oyj		392		6,063
PACCAR, Inc.		502		41,099
Parker-Hannifin Corp.		211		62,597
Pentair PLC		481		37,114
Sandvik AB		907		23,146
Schindler Holding AG		78		25,188

11

Company	Shares		U.S. $ Value
Schindler Holding AG (REG)		81	$	25,248
SKF AB - Class B		706		18,031
Snap-on, Inc.		233		52,413
Stanley Black & Decker, Inc.		329		63,586
Trane Technologies PLC		469		93,096
Volvo AB - Class B		910		20,605
Wartsila Oyj Abp		732		10,384
Weir Group PLC (The)(b)		503		12,105
Westinghouse Air Brake Technologies Corp.		457		41,034
Xylem, Inc./NY		796		108,503
Zardoya Otis SA		1,731		11,424
				1,495,213
Marine – 0.0%
AP Moller - Maersk A/S - Class A		10		27,099
AP Moller - Maersk A/S - Class B		9		25,639
				52,738
Professional Services – 0.5%
Adecco Group AG		233		12,961
Bureau Veritas SA		963		32,006
Capita PLC(b)		1,612		1,085
CoStar Group, Inc.(b)		2,870		243,204
Equifax, Inc.		383		104,276
Experian PLC		1,125		49,624
Intertek Group PLC		254		18,417
Jacobs Engineering Group, Inc.		615		83,000
ManpowerGroup, Inc.		340		41,283
Nielsen Holdings PLC		827		17,747
Randstad NV		258		19,001
RELX PLC		1,139		34,259
RELX PLC (London)		1,122		33,673
Robert Half International, Inc.		701		72,483
SGS SA		10		31,428
Thomson Reuters Corp.		1,197		139,866
Verisk Analytics, Inc. - Class A		637		128,521
Wolters Kluwer NV		490		56,350
				1,119,184
Road & Rail – 0.3%
AMERCO(b)		94		62,148
Canadian National Railway Co.		661		77,749
Canadian Pacific Railway Ltd.		1,400		96,196
CSX Corp.		1,578		51,333
JB Hunt Transport Services, Inc.		438		77,701
Kansas City Southern		333		93,463
Norfolk Southern Corp.		311		78,851
Union Pacific Corp.		324		70,256
				607,697
Trading Companies & Distributors – 0.2%
AerCap Holdings NV(b)		317		17,096
Ashtead Group PLC		560		43,777
Brenntag SE		322		32,496
Bunzl PLC		677		24,530
Fastenal Co.		1,510		84,333
Ferguson PLC		296		42,783

12

Company	Shares		U.S. $ Value
Finning International, Inc.		1,846	$	48,050
Rexel SA(b)		970		20,306
Travis Perkins PLC(b)		697		17,268
United Rentals, Inc.(b)		195		68,767
WW Grainger, Inc.		196		85,005
				484,411
Transportation Infrastructure – 0.1%
Aena SME SA(b) (d)		131		20,944
Aeroports de Paris(b)		132		15,545
Atlantia SpA(b)		613		11,483
Fraport AG Frankfurt Airport Services Worldwide(b)		264		17,072
Getlink SE		1,705		27,465
Macquarie Infrastructure Corp.(b)		570		22,714
				115,223
				7,745,633
Consumer Staples – 2.7%
Beverages – 0.5%
Anheuser-Busch InBev SA/NV		336		20,608
Brown-Forman Corp. - Class B		1,553		109,052
Carlsberg AS - Class B		434		75,804
Coca-Cola Co. (The)		2,349		132,272
Coca-Cola Europacific Partners PLC		1,012		59,273
Coca-Cola HBC AG(b)		1,304		47,198
Constellation Brands, Inc. - Class A		321		67,776
Diageo PLC		1,525		73,311
Heineken Holding NV		450		41,743
Heineken NV		502		54,980
Keurig Dr Pepper, Inc.		924		32,959
Molson Coors Beverage Co. - Class B		775		36,836
Monster Beverage Corp.(b)		1,264		123,328
PepsiCo, Inc.		845		132,149
Pernod Ricard SA		347		73,046
Remy Cointreau SA		337		66,365
				1,146,700
Food & Staples Retailing – 0.7%
Alimentation Couche-Tard, Inc. - Class B		3,374		136,335
Carrefour SA		1,249		24,865
Casino Guichard Perrachon SA(b)		448		13,014
Costco Wholesale Corp.		505		230,023
Distribuidora Internacional de Alimentacion SA(b)		54,700		1,305
Empire Co., Ltd. - Class A		3,731		120,655
Etablissements Franz Colruyt NV		915		51,220
George Weston Ltd.		1,283		138,301
ICA Gruppen AB		1,334		66,364
J Sainsbury PLC		10,711		44,768
Jeronimo Martins SGPS SA		2,095		44,402
Koninklijke Ahold Delhaize NV		1,925		64,945
Kroger Co. (The)		1,741		80,138
Loblaw Cos., Ltd.		1,937		136,472
METRO AG		963		12,827
Metro, Inc./CN		3,499		178,243
Rite Aid Corp.(b) (c)		91		1,614

13

Company	Shares		U.S. $ Value
Sysco Corp.		1,355	$	107,926
Tesco PLC		11,257		39,519
Walgreens Boots Alliance, Inc.		793		40,245
Walmart, Inc.		1,159		171,648
Wm Morrison Supermarkets PLC		13,410		53,339
				1,758,168
Food Products – 0.8%
Archer-Daniels-Midland Co.		1,514		90,840
Aryzta AG(b)		6,292		8,784
Associated British Foods PLC		933		25,439
Barry Callebaut AG		33		84,069
Bunge Ltd.		891		67,458
Campbell Soup Co.(c)		1,279		53,373
Chocoladefabriken Lindt & Spruengli AG		9		105,848
Chocoladefabriken Lindt & Spruengli AG (REG)		1		122,195
Conagra Brands, Inc.		1,969		65,213
Danone SA		580		42,355
General Mills, Inc.		1,305		75,442
Hershey Co. (The)		758		134,697
Hormel Foods Corp.(c)		1,930		87,892
Ingredion, Inc.		628		55,176
JM Smucker Co. (The)		614		75,933
Kellogg Co.		1,053		66,487
Kerry Group PLC - Class A		503		73,765
Kraft Heinz Co. (The)		886		31,887
McCormick & Co., Inc./MD		1,800		155,322
Mondelez International, Inc. - Class A		1,174		72,870
Mowi ASA		1,945		52,097
Nestle SA		608		76,784
Orkla ASA		3,826		34,175
Saputo, Inc.		2,289		64,389
Tate & Lyle PLC		4,685		45,501
Tyson Foods, Inc. - Class A		1,060		83,231
				1,851,222
Household Products – 0.4%
Church & Dwight Co., Inc.		1,639		137,119
Clorox Co. (The)		669		112,425
Colgate-Palmolive Co.		1,207		94,086
Edgewell Personal Care Co.(c)		667		28,214
Essity AB - Class B		1,288		41,342
Henkel AG & Co. KGaA		338		30,422
Henkel AG & Co. KGaA (Preference Shares)		356		34,782
Kimberly-Clark Corp.		706		97,294
Procter & Gamble Co. (The)		1,192		169,729
Reckitt Benckiser Group PLC		499		38,094
Spectrum Brands Holdings, Inc.		587		45,821
				829,328
Personal Products – 0.2%
Beiersdorf AG		471		57,163
Coty, Inc. - Class A(b) (c)		2,104		20,556
Estee Lauder Cos., Inc. (The) - Class A		855		291,119
L’Oreal SA		228		106,964
Unilever PLC		811		45,156

14

Company	Shares		U.S. $ Value
Unilever PLC		860	$	47,873
				568,831
Tobacco – 0.1%
Altria Group, Inc.		1,060		53,244
British American Tobacco PLC		579		21,720
British American Tobacco PLC (Sponsored ADR)(c)		643		24,235
Imperial Brands PLC		987		20,931
Philip Morris International, Inc.		715		73,645
Swedish Match AB		13,450		124,260
				318,035
				6,472,284
Consumer Discretionary – 2.6%
Auto Components – 0.1%
Aptiv PLC(b)		302		45,961
Autoliv, Inc.		287		25,368
BorgWarner, Inc.		676		28,852
Cie Generale des Etablissements Michelin SCA - Class B		199		32,217
Continental AG(b)		107		14,380
Faurecia SE		29		1,401
Faurecia SE (Italy)		21		1,009
Goodyear Tire & Rubber Co. (The)(b)		816		12,925
Lear Corp.		199		31,828
Linamar Corp.		630		35,693
Magna International, Inc. - Class A (Canada)		729		57,568
Nokian Renkaat Oyj		578		22,029
Schaeffler AG (Preference Shares)		1,288		11,054
Valeo		282		8,049
Veoneer, Inc.(b) (c)		287		10,275
				338,609
Automobiles – 0.3%
Bayerische Motoren Werke AG		252		23,920
Bayerische Motoren Werke AG (Preference Shares)		288		24,111
Daimler AG		349		29,440
Ferrari NV		303		65,727
Ford Motor Co.(b)		2,754		35,885
General Motors Co.(b)		869		42,590
Harley-Davidson, Inc.		457		18,065
Porsche Automobil Holding SE (Preference Shares)		377		38,140
Renault SA(b)		203		7,557
Stellantis NV		3,025		60,584
Tesla, Inc.(b)		270		198,644
Volkswagen AG		151		50,523
Volkswagen AG (Preference Shares)		138		32,824
				628,010
Distributors – 0.0%
Genuine Parts Co.		435		53,153

15

Company	Shares		U.S. $ Value
LKQ Corp.(b)		877	$	46,209
				99,362
Diversified Consumer Services – 0.0%
H&R Block, Inc.		830		21,289
Hotels, Restaurants & Leisure – 0.5%
Accor SA(b)		515		17,760
Aramark		1,174		40,843
Booking Holdings, Inc.(b)		17		39,094
Carnival Corp.(b)		557		13,446
Carnival PLC(b)		409		8,862
Chipotle Mexican Grill, Inc. - Class A(b)		57		108,490
Compass Group PLC(b)		1,758		36,320
Darden Restaurants, Inc.		368		55,439
Domino’s Pizza, Inc.		151		78,050
Expedia Group, Inc.(b)		215		31,068
Flutter Entertainment PLC(b)		226		43,936
Hilton Worldwide Holdings, Inc.(b)		532		66,426
InterContinental Hotels Group PLC(b)		470		30,030
Las Vegas Sands Corp.(b)		477		21,279
Marriott International, Inc./MD - Class A(b)		350		47,299
McDonald’s Corp.		324		76,937
MGM Resorts International		769		32,775
Norwegian Cruise Line Holdings Ltd.(b) (c)		485		12,532
Restaurant Brands International, Inc.		668		42,918
Royal Caribbean Cruises Ltd.(b) (c)		277		22,916
Sodexo SA(b)		224		18,561
Starbucks Corp.		666		78,248
Travel & Leisure Co.		277		15,169
TUI AG-DI(b)		3,055		13,289
Whitbread PLC(b)		756		33,385
Wyndham Hotels & Resorts, Inc.		277		20,138
Wynn Resorts Ltd.(b)		179		18,203
Yum! Brands, Inc.		630		82,549
				1,105,962
Household Durables – 0.3%
Barratt Developments PLC		2,559		26,029
Berkeley Group Holdings PLC		550		36,534
DR Horton, Inc.		836		79,938
Electrolux AB - Class B		748		19,008
Garmin Ltd.		605		105,530
Husqvarna AB - Class B		2,521		33,866
Leggett & Platt, Inc.(c)		679		32,857
Lennar Corp. - Class A		555		59,557
Lennar Corp. - Class B		11		963
Mohawk Industries, Inc.(b)		156		30,851
Newell Brands, Inc.		610		15,500
Persimmon PLC		763		30,880
PulteGroup, Inc.		1,261		67,917
SEB SA		178		28,019
Taylor Wimpey PLC		9,372		23,592
Toll Brothers, Inc.		690		44,201

16

Company	Shares		U.S. $ Value
Whirlpool Corp.		167	$	36,995
				672,237
Internet & Direct Marketing Retail – 0.3%
Amazon.com, Inc.(b)		29		100,653
eBay, Inc.		1,712		131,379
MercadoLibre, Inc.(b)		134		250,238
Qurate Retail, Inc.		1,207		13,313
Zalando SE(b) (d)		758		84,043
				579,626
Leisure Products – 0.0%
Hasbro, Inc.		367		36,080
Mattel, Inc.(b)		1,058		22,588
Nordic Entertainment Group AB - Class B(b)		65		3,776
Polaris, Inc.		248		29,701
				92,145
Multiline Retail – 0.2%
Canadian Tire Corp., Ltd. - Class A		300		45,654
Dollar General Corp.		382		85,152
Dollar Tree, Inc.(b)		304		27,524
Dollarama, Inc.		1,356		61,832
Kohl’s Corp.		485		27,839
Macy’s, Inc.(b)		699		15,651
Marks & Spencer Group PLC(b)		4,897		12,105
Next PLC		400		43,500
Nordstrom, Inc.(b) (c)		496		14,191
Target Corp.		562		138,803
				472,251
Specialty Retail – 0.4%
Advance Auto Parts, Inc.		173		35,093
AutoNation, Inc.(b) (c)		587		64,036
AutoZone, Inc.(b)		47		72,810
Bath & Body Works, Inc.(g)		409		27,599
Bed Bath & Beyond, Inc.(b) (c)		660		18,176
Best Buy Co., Inc.		397		46,255
CarMax, Inc.(b)		276		34,558
CECONOMY AG(b)		963		4,513
Dick’s Sporting Goods, Inc.(c)		553		77,868
Dixons Carphone PLC		4,868		9,350
Dufry AG(b)		127		6,848
Foot Locker, Inc.(c)		407		23,073
Gap, Inc. (The)		852		22,774
H & M Hennes & Mauritz AB - Class B(b)		936		18,796
Home Depot, Inc. (The)		245		79,914
Industria de Diseno Textil SA		757		25,860
Kingfisher PLC		6,282		30,248
Lowe’s Cos., Inc.		362		73,808
O’Reilly Automotive, Inc.(b)		119		70,696
Ross Stores, Inc.		451		53,398
Signet Jewelers Ltd.		287		22,730
TJX Cos., Inc. (The)		1,056		76,792

17

Company	Shares		U.S. $ Value
Tractor Supply Co.		570	$	110,723
Ulta Beauty, Inc.(b)		91		35,245
Victoria’s Secret & Co.(b)		136		9,017
Wickes Group PLC(b)		782		2,602
				1,052,782
Textiles, Apparel & Luxury Goods – 0.5%
adidas AG		138		48,955
Burberry Group PLC		981		25,119
Capri Holdings Ltd.(b)		474		26,786
Christian Dior SE		102		77,105
Cie Financiere Richemont SA		285		31,456
EssilorLuxottica SA		493		96,870
Gildan Activewear, Inc.		1,287		49,474
Hanesbrands, Inc.(c)		1,331		24,863
Hermes International		67		98,611
HUGO BOSS AG		261		14,573
Kering SA		75		59,739
Kontoor Brands, Inc.(c)		82		4,425
Lululemon Athletica, Inc.(b)		362		144,862
LVMH Moet Hennessy Louis Vuitton SE		90		66,673
NIKE, Inc. - Class B		676		111,364
Pandora A/S		240		28,767
Puma SE		60		7,285
PVH Corp.(b)		229		23,997
Ralph Lauren Corp.		379		44,013
Swatch Group AG (The)		56		15,801
Swatch Group AG (The) (REG)		301		16,556
Tapestry, Inc.(b)		597		24,071
Under Armour, Inc. - Class A(b)		1,122		25,963
Under Armour, Inc. - Class C(b)		1,242		24,914
VF Corp.		576		44,047
				1,136,289
				6,198,562
Materials – 2.5%
Chemicals – 1.4%
Air Liquide SA		447		80,121
Air Products and Chemicals, Inc.		522		140,684
Akzo Nobel NV		408		50,282
Albemarle Corp.(c)		546		129,260
Arkema SA		294		39,074
Axalta Coating Systems Ltd.(b)		2,149		65,630
BASF SE		444		34,348
Celanese Corp. - Class A		722		114,509
CF Industries Holdings, Inc.		1,192		54,141
Chr Hansen Holding A/S		469		43,280
Corteva, Inc.		701		30,823
Covestro AG(d)		458		29,682
Croda International PLC		632		79,557
Dow, Inc.		701		44,093
DuPont de Nemours, Inc.		701		51,888
Eastman Chemical Co.		794		89,849
Ecolab, Inc.		833		187,725
EMS-Chemie Holding AG		47		50,927

18

Company	Shares		U.S. $ Value
Evonik Industries AG		1,232	$	41,597
FMC Corp.		742		69,474
Givaudan SA		25		125,424
International Flavors & Fragrances, Inc.		533		80,750
Johnson Matthey PLC		1,127		45,563
K&S AG(b)		1,009		14,383
Koninklijke DSM NV		642		136,680
LANXESS AG		442		32,219
Linde PLC		436		137,161
Livent Corp.(b) (c)		693		17,235
LyondellBasell Industries NV - Class A		645		64,726
Methanex Corp.		1,103		40,425
Mosaic Co. (The)		2,007		64,585
Novozymes A/S - Class B		559		45,188
Nutrien Ltd.		3,184		193,566
PPG Industries, Inc.		660		105,303
Sherwin-Williams Co. (The)		693		210,443
Sika AG		360		129,710
Solvay SA		330		43,194
Symrise AG		710		101,040
Umicore SA		1,130		74,356
WR Grace & Co.		870		60,587
Yara International ASA		866		43,493
				3,192,975
Construction Materials – 0.1%
CRH PLC		1,075		56,949
HeidelbergCement AG		356		30,875
Holcim Ltd.		595		33,904
Imerys SA		563		26,106
Martin Marietta Materials, Inc.		237		90,356
Vulcan Materials Co.		393		73,071
				311,261
Containers & Packaging – 0.4%
Avery Dennison Corp.		978		220,432
Ball Corp.		1,802		172,920
CCL Industries, Inc. - Class B		1,790		102,180
Crown Holdings, Inc.		1,332		146,240
International Paper Co.		1,270		76,314
Packaging Corp. of America		678		102,853
Sealed Air Corp.		1,509		92,094
Westrock Co.		1,050		54,642
				967,675
Metals & Mining – 0.5%
Agnico Eagle Mines Ltd.		888		51,099
Anglo American PLC		1,415		59,763
Antofagasta PLC		2,036		40,785
ArcelorMittal SA		987		33,104
Arconic Corp.(b)		206		7,105
Barrick Gold Corp. (London)		1,911		38,096
Barrick Gold Corp. (Toronto)		2,364		47,518
BHP Group PLC		1,449		45,058
Boliden AB		977		34,110
Eldorado Gold Corp.(b)		1,427		12,509
First Quantum Minerals Ltd.		3,202		66,697
Franco-Nevada Corp.		739		107,806

19

Company	Shares		U.S. $ Value
Freeport-McMoRan, Inc.		2,604	$	94,760
Fresnillo PLC		1,276		15,005
Glencore PLC(b)		5,705		25,717
Kinross Gold Corp.		6,730		40,487
Newmont Corp.		1,386		80,374
Newmont Corp. (Toronto)		1,053		61,061
Norsk Hydro ASA		4,362		30,112
Nucor Corp.		910		106,980
Rio Tinto PLC		669		49,495
Teck Resources Ltd.- Class B		2,652		59,802
thyssenkrupp AG(b)		1,007		11,221
Turquoise Hill Resources Ltd.(b)		641		9,613
voestalpine AG		636		28,871
Wheaton Precious Metals Corp.		1,870		84,277
Yamana Gold, Inc.		7,199		31,782
				1,273,207
Paper & Forest Products – 0.1%
Mondi PLC		1,889		52,108
Stora Enso Oyj - Class R		2,477		48,597
Svenska Cellulosa AB SCA - Class B		1,288		22,763
UPM-Kymmene Oyj		1,348		54,916
West Fraser Timber Co., Ltd.		1,065		82,236
				260,620
				6,005,738
Utilities – 2.1%
Electric Utilities – 1.1%
Alliant Energy Corp.		1,649		100,243
American Electric Power Co., Inc.		1,054		94,407
Duke Energy Corp.		865		90,531
Edison International		797		46,098
EDP - Energias de Portugal SA		19,584		107,507
Electricite de France SA		3,570		48,416
Emera, Inc.		2,500		118,020
Endesa SA		3,408		81,936
Enel SpA		10,639		96,926
Entergy Corp.		880		97,337
Evergy, Inc.		973		66,602
Eversource Energy		1,141		103,523
Exelon Corp.		1,491		73,089
FirstEnergy Corp.		1,915		74,436
Fortis, Inc./Canada		2,662		121,954
Fortum Oyj		4,004		121,701
Hydro One Ltd.(d)		3,582		89,149
Iberdrola SA		8,534		105,749
NextEra Energy, Inc.		2,156		181,082
OGE Energy Corp.		1,973		69,864
Orsted AS(d)		1,497		238,000
Pinnacle West Capital Corp.		753		57,906
PPL Corp.		1,790		52,536
Red Electrica Corp. SA		3,748		74,748
Southern Co. (The)		1,397		91,825
SSE PLC		3,489		78,378
Terna - Rete Elettrica Nazionale		13,636		107,862
Xcel Energy, Inc.		1,190		81,812
				2,671,637

20

Company	Shares		U.S. $ Value
Gas Utilities – 0.2%
AltaGas Ltd.		3,076	$	61,610
Atmos Energy Corp.		860		83,859
Enagas SA		3,496		79,578
Naturgy Energy Group SA		2,625		67,522
Snam SpA		22,765		134,600
UGI Corp.		1,317		60,990
				488,159
Independent Power and Renewable Electricity Producers – 0.0%
AES Corp. (The)		4,046		96,578
Multi-Utilities – 0.7%
Ameren Corp.		1,162		101,931
Atco Ltd./Canada - Class I		1,665		56,021
Canadian Utilities Ltd. - Class A		2,932		82,988
CenterPoint Energy, Inc.		2,121		53,216
Centrica PLC(b)		23,244		16,610
CMS Energy Corp.		1,535		98,439
Consolidated Edison, Inc.		866		65,340
Dominion Energy, Inc.		1,315		102,360
DTE Energy Co.		687		82,673
E.ON SE		6,694		88,318
Engie SA		3,398		48,693
National Grid PLC		4,604		59,549
NiSource, Inc.		2,608		64,287
Public Service Enterprise Group, Inc.		1,187		75,897
RWE AG		2,734		106,756
Sempra Energy		547		72,401
Suez SA		3,280		76,102
United Utilities Group PLC		6,181		89,887
Veolia Environnement SA		2,624		90,049
WEC Energy Group, Inc.		1,055		99,676
				1,531,193
Water Utilities – 0.1%
American Water Works Co., Inc.		869		158,375
Severn Trent PLC		2,353		89,400
				247,775
				5,035,342
Communication Services – 1.7%
Diversified Telecommunication Services – 0.6%
Altice USA, Inc. - Class A(b)		713		19,565
AT&T, Inc.		2,772		76,008
BCE, Inc.		3,032		158,131
BT Group PLC(b)		7,665		17,918
Charter Communications, Inc. - Class A(b) (c)		83		67,783
Comcast Corp. - Class A		824		50,000
Deutsche Telekom AG		2,256		47,970
Elisa Oyj		1,116		71,525
Eurazeo SE		635		65,324
Eutelsat Communications SA		1,132		13,093
Iliad SA		138		29,675
Koninklijke KPN NV		12,242		39,216
Liberty Global PLC(b)		1,811		52,483

21

Company	Shares		U.S. $ Value
Liberty Global PLC - Class A(b)		813	$	23,366
Liberty Latin America Ltd. - Class C(b)		1,189		17,110
Lumen Technologies, Inc.(c)		3,838		47,207
Orange SA		2,176		24,739
Proximus SADP		1,770		34,703
Shaw Communications, Inc. - Class B		2,404		70,749
Sirius XM Holdings, Inc.(c)		4,633		29,049
Swisscom AG		114		66,911
Telecom Italia SpA/Milano		31,583		14,309
Telecom Italia SpA/Milano (Savings Shares)		39,625		19,144
Telefonica Deutschland Holding AG		7,772		21,817
Telefonica SA		3,726		18,436
Telenet Group Holding NV		522		19,862
Telenor ASA		2,325		40,731
Telia Co. AB		12,753		54,830
TELUS Corp.		6,684		154,008
United Internet AG		623		26,928
Verizon Communications, Inc.		1,696		93,280
				1,485,870
Entertainment – 0.2%
Activision Blizzard, Inc.		841		69,273
Bollore SA		3,319		19,672
Electronic Arts, Inc.		495		71,879
Modern Times Group MTG AB - Class B(b)		90		1,284
Netflix, Inc.(b)		129		73,425
Vivendi SE		1,098		41,825
Walt Disney Co. (The)(b)		1,074		194,716
				472,074
Interactive Media & Services – 0.4%
Adevinta ASA - Class B(b)		2,027		40,794
Alphabet, Inc. - Class A(b)		78		225,728
Alphabet, Inc. - Class C(b)		76		221,102
Auto Trader Group PLC		4,579		39,598
Cars.com, Inc.(b)		283		3,600
Facebook, Inc. - Class A(b)		387		146,820
TripAdvisor, Inc.(b)		426		14,910
Twitter, Inc.(b)		1,866		120,357
Zillow Group, Inc. - Class C(b) (c)		848		81,213
				894,122
Media – 0.3%
Discovery, Inc. - Class A(b) (c)		1,012		29,186
Discovery, Inc. - Class C(b)		1,427		39,371
DISH Network Corp. - Class A(b) (c)		297		12,946
Fox Corp. - Class A		338		12,655
Fox Corp. - Class B		340		11,774
Interpublic Group of Cos., Inc. (The)		1,393		51,861
ITV PLC(b)		7,799		12,430
JCDecaux SA(b)		889		24,802
Lagardere SA(b)		819		22,658
Liberty Broadband Corp.(b)		346		66,197

22

Company	Shares		U.S. $ Value
Liberty Media Corp.-Liberty SiriusXM - Class A(b)		944	$	46,728
Liberty Media Corp.-Liberty SiriusXM - Class C(b)		855		42,194
News Corp. - Class A		2,510		56,400
Omnicom Group, Inc.		460		33,681
Pearson PLC		1,740		18,349
ProSiebenSat.1 Media SE		638		12,181
Publicis Groupe SA		351		23,043
RTL GROUP(b)		289		17,958
RTL Group SA		30		1,865
Schibsted ASA		973		51,911
Schibsted ASA - Class B		1,054		49,049
SES SA		1,380		11,517
TEGNA, Inc.		850		15,062
ViacomCBS, Inc. - Class B		829		34,362
WPP PLC		1,472		19,959
				718,139
Wireless Telecommunication Services – 0.2%
Millicom International Cellular SA(b)		591		22,365
Rogers Communications, Inc. - Class B		2,193		111,732
T-Mobile US, Inc.(b)		970		132,909
Tele2 AB - Class B		4,849		72,799
Vodafone Group PLC		17,886		30,041
				369,846
				3,940,051
Energy – 1.3%
Energy Equipment & Services – 0.1%
Baker Hughes Co. - Class A		758		17,267
ChampionX Corp.(b)		214		4,992
Core Laboratories NV		280		7,717
Drilling Co. of 1972 A/S (The)(b)		38		1,395
Halliburton Co.		747		14,925
Helmerich & Payne, Inc.		490		13,191
NOV, Inc.(b)		851		11,208
Petrofac Ltd.(b)		6,919		10,017
Saipem SpA(b)		858		2,033
Schlumberger NV		606		16,992
Tenaris SA		3,797		38,218
Weatherford International PLC(b)		1		16
				137,971
Oil, Gas & Consumable Fuels – 1.2%
Antero Resources Corp.(b)		1,271		17,438
APA Corp.		607		11,824
ARC Resources Ltd.		4,153		29,658
BP PLC		13,599		55,325
Cabot Oil & Gas Corp.		1,013		16,097
Cameco Corp.		2,728		50,402
Canadian Natural Resources Ltd.		1,035		34,250
Cenovus Energy, Inc.		5,037		41,800
Cheniere Energy, Inc.(b)		609		53,263
Chevron Corp.		571		55,256
China Petroleum & Chemical Corp. - Class H		230,000		110,662
China Shenhua Energy Co., Ltd. - Class H		99,000		218,919

23

Company	Shares		U.S. $ Value
Cimarex Energy Co.		268	$	17,211
ConocoPhillips		1,067		59,250
Continental Resources, Inc./OK(c)		603		23,686
Crescent Point Energy Corp.		2,365		8,492
Devon Energy Corp.		669		19,769
Diamondback Energy, Inc.		286		22,062
DTE Midstream LLC(b)		343		15,939
Enbridge, Inc.		1,314		51,710
Eni SpA		4,936		60,898
EOG Resources, Inc.		364		24,577
EQT Corp.(b)		539		9,880
Equinor ASA		4,590		97,281
Equitrans Midstream Corp.		431		3,763
Exxon Mobil Corp.		713		38,873
Galp Energia SGPS SA		4,711		48,188
Hess Corp.		565		38,844
HollyFrontier Corp.		1,019		32,944
Imperial Oil Ltd.		1,534		40,598
Inter Pipeline Ltd.		3,237		51,314
Keyera Corp.		1,731		41,682
Kinder Morgan, Inc.		1,880		30,588
Koninklijke Vopak NV		1,705		73,843
Lundin Energy AB		2,787		85,173
Marathon Oil Corp.		1,390		16,332
Marathon Petroleum Corp.		1,407		83,393
Murphy Oil Corp.(c)		914		19,432
Neste Oyj		4,680		285,068
Occidental Petroleum Corp.		864		22,196
OMV AG		1,553		86,022
ONEOK, Inc.		703		36,922
Ovintiv, Inc.		398		10,849
Ovintiv, Inc. (Canada)		403		10,972
Pembina Pipeline Corp.		2,130		64,914
Peyto Exploration & Development Corp.		1,639		8,704
Phillips 66		607		43,152
Pioneer Natural Resources Co.		271		40,561
PrairieSky Royalty Ltd.		1,883		20,656
Range Resources Corp.(b) (c)		940		13,743
Royal Dutch Shell PLC - Class A		3,106		61,559
Royal Dutch Shell PLC - Class B		3,120		61,394
Southwestern Energy Co.(b) (c)		2,381		10,833
Suncor Energy, Inc.		1,483		27,693
Targa Resources Corp.		621		27,274
TC Energy Corp.		1,444		68,557
Thungela Resources Ltd.(b)		141		588
TotalEnergies SE		1,632		72,188
Tourmaline Oil Corp.		1,532		40,970
Valero Energy Corp.		618		40,980
Vermilion Energy, Inc.(b)		920		6,140
Williams Cos., Inc. (The)		1,051		25,949
				2,798,500
				2,936,471
Real Estate – 1.2%
Equity Real Estate Investment Trusts (REITs) – 1.0%
Alexandria Real Estate Equities, Inc.		370		76,357
American Tower Corp.		354		103,428

24

Company	Shares		U.S. $ Value
AvalonBay Communities, Inc.		234	$	53,722
Boston Properties, Inc.		360		40,676
British Land Co. PLC (The)		5,156		37,668
Brixmor Property Group, Inc.		1,101		25,819
Camden Property Trust		472		70,819
Covivio		424		40,410
Crown Castle International Corp.		494		96,177
Digital Realty Trust, Inc.		378		61,958
DigitalBridge Group, Inc.(b) (c)		3,138		21,652
Duke Realty Corp.		1,323		69,471
Equinix, Inc.		91		76,754
Equity Residential		641		53,889
Essex Property Trust, Inc.		185		61,187
Extra Space Storage, Inc.		489		91,399
Federal Realty Investment Trust		282		34,339
Gecina SA		296		46,013
H&R Real Estate Investment Trust		3,643		47,932
Hammerson PLC		28,225		14,143
Healthpeak Properties, Inc.		1,144		41,184
Host Hotels & Resorts, Inc.(b)		1,706		28,251
ICADE		547		47,037
Intu Properties PLC(b) (e) (f)		9,375		0
Iron Mountain, Inc.(c)		1,144		54,626
JBG SMITH Properties		232		6,990
Kimco Realty Corp.		1,471		32,053
Klepierre SA(b)		1,062		26,036
Land Securities Group PLC		3,092		30,199
Macerich Co. (The)		518		8,847
Mid-America Apartment Communities, Inc.		487		93,684
National Retail Properties, Inc.		864		41,135
Prologis, Inc.		1,398		188,255
Public Storage		203		65,693
Realty Income Corp.		678		48,965
Regency Centers Corp.		664		45,564
RioCan Real Estate Investment Trust		3,105		55,152
SBA Communications Corp.		280		100,512
Segro PLC		5,086		89,890
Simon Property Group, Inc.		199		26,756
SL Green Realty Corp.(c)		358		25,089
SmartCentres Real Estate Investment Trust		1,619		39,152
UDR, Inc.		1,200		64,824
Ventas, Inc.		613		34,291
VEREIT, Inc.		687		34,714
Vornado Realty Trust		465		19,474
Welltower, Inc.		621		54,356
Weyerhaeuser Co.		1,110		39,960
				2,466,502
Real Estate Management & Development – 0.2%
CBRE Group, Inc. - Class A(b)		938		90,329
Deutsche Wohnen SE		1,099		68,218
First Capital Real Estate Investment Trust		2,575		36,779
Jones Lang LaSalle, Inc.(b)		249		60,365
Swiss Prime Site AG		732		78,329
Unibail-Rodamco-Westfield(b)		156		13,670

25

Company	Shares		U.S. $ Value
Vonovia SE		1,235	$	83,376
				431,066
				2,897,568
Total Common Stocks (cost $41,027,055)				73,827,427
INVESTMENT COMPANIES – 7.6%
Funds and Investment Trusts – 7.6%(h)
Altaba, Inc.(e) (f)		1,120		0
iShares Global Energy ETF(c)		97,950		2,412,509
iShares Russell 1000 Value ETF - Class E(c)		41,760		6,810,638
iShares Russell 2000 Value ETF(c)		20,070		3,291,480
VanEck Vectors JP Morgan EM Local Currency Bond ETF - Class E		98,020		3,055,283
Vanguard Global ex-U.S. Real Estate ETF		19,860		1,176,904
Vanguard Real Estate ETF(c)		11,760		1,276,901
Total Investment Companies (cost $15,694,631)				18,023,715
	Principal Amount (000)
GOVERNMENTS - SOVEREIGN BONDS – 0.6%
Mexico – 0.6%
Mexico Government International Bond 4.125%, 01/21/2026 (c) (cost $1,172,138)	U.S.$	1,174		1,328,968
	Shares
PREFERRED STOCKS – 0.0%
Materials – 0.0%
Chemicals – 0.0%
Fuchs Petrolub SE 0.00% (b)		915		46,305
Consumer Discretionary – 0.0%
Internet & Direct Marketing Retail – 0.0%
Qurate Retail, Inc. 8.00%		36		3,888
Real Estate – 0.0%
Real Estate Management & Development – 0.0%
Brookfield Property Preferred LP 6.25% (c)		29		749
Total Preferred Stocks (cost $48,064)				50,942
WARRANTS – 0.0%
Energy – 0.0%
Energy Equipment & Services – 0.0%
Weatherford International PLC, expiring 11/26/2023(b)		20		5

26

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels – 0.0%
Cenovus Energy, Inc., expiring 01/01/2026(b)		200	$	915
Occidental Petroleum Corp., expiring 08/03/2027(b)		108		1,093
				2,008
				2,013
Consumer Discretionary – 0.0%
Multiline Retail – 0.0%
Cie Financiere Richemont SA, expiring 11/27/2023(b)		570		293
Total Warrants (cost $1,355)				2,306
SHORT-TERM INVESTMENTS – 7.4%
Investment Companies – 7.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(h) (i) (j) (cost $17,453,700)		17,453,700		17,453,700
Total Investments Before Security Lending Collateral for Securities Loaned – 96.3% (cost $186,885,290)				228,251,223
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 1.1%
Investment Companies – 1.1%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(h) (i) (j) (cost $2,683,534)		2,683,534		2,683,534
Total Investments – 97.4% (cost $189,568,824)(k)				230,934,757
Other assets less liabilities – 2.6%				6,069,640
Net Assets – 100.0%			$	237,004,397

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Brent Crude Futures		39		January 2022		$	2,712,840		$	8,412
Canadian 10 Yr Bond Futures		61		December 2021			7,065,295			15,931
Cattle Feeder Futures		12		September 2021			978,000			2,141
Cocoa Futures		32		March 2022			820,160			12,323
Coffee Robusta Futures		40		November 2021			810,400			87,589
Coffee ‘C’ Futures		8		March 2022			595,500			13,948
Copper Futures		15		December 2021			1,640,625			(36,521	)
Corn Futures		62		March 2022			1,682,525			(45,909	)
Cotton No.2 Futures		22		March 2022			1,009,470			21,335
Euro STOXX 50 Index Futures		39		September 2021			1,925,550			27,586
Gasoline RBOB Futures		17		December 2021			1,431,641			(3,137	)
Gold 100 OZ Futures		25		December 2021			4,545,250			(7,731	)
Hang Seng Index Futures		9		September 2021			1,490,116			9,131

27

Description	Number     of     Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Japan 10 Yr Bond (OSE) Futures		3		September 2021		$	4,149,253		$	10,891
KC HRW Wheat Futures		34		March 2022			1,226,550			(24,358	)
Lean Hogs Futures		20		February 2022			667,200			(32,122	)
Live Cattle Futures		19		February 2022			1,046,900			4,495
LME Nickel Futures		17		November 2021			1,994,508			115,890
LME Primary Aluminum Futures		41		November 2021			2,785,950			260,235
LME Primary Aluminum Futures		5		September 2021			339,125			27,827
LME Zinc Futures		29		November 2021			2,178,444			724
Long Gilt Future		43		December 2021			7,581,364			(16,011	)
Low Sulphur Gasoil Futures		28		March 2022			1,649,900			13,007
MSCI Emerging Markets Futures		160		September 2021			10,393,600			(584,884	)
MSCI Singapore IX ETS Futures		29		September 2021			759,593			(11,681	)
Natural Gas Futures		94		December 2021			4,289,220			314,899
NY Harbor ULSD Futures		18		December 2021			1,598,184			3,263
Platinum Futures		18		October 2021			912,690			(56,484	)
S&P 400 E-Mini Futures		6		September 2021			1,651,200			15,872
Silver Futures		11		December 2021			1,320,330			8,528
Soybean Futures		28		March 2022			1,827,350			(35,598	)
Soybean Meal Futures		34		March 2022			1,187,620			(26,049	)
Soybean Oil Futures		37		March 2022			1,299,588			(21,513	)
SPI 200 Futures		24		September 2021			3,281,879			85,101
Sugar 11 (World) Futures		55		February 2022			1,265,880			152,913
TOPIX Index Futures		46		September 2021			8,214,062			22,675
U.S. T-Note 5 Yr (CBT) Futures		64		December 2021			7,918,000			10,950
U.S. T-Note 10 Yr (CBT) Futures		85		December 2021			11,343,516			35,078
Wheat Futures (CBT)		34		March 2022			1,252,900			(24,315	)
WTI Crude Futures		42		February 2022			2,806,440			6,533
Sold Contracts
BCOM Commodity Index Futures		1,010		September 2021			9,696,000			(269,801	)
FTSE 100 Index Futures		8		September 2021			780,530			979
Japan 10 Yr Bond (OSE) Futures		9		September 2021			12,447,757			(66,727	)
LME Nickel Futures		5		November 2021			586,620			(25,696	)
LME Primary Aluminum Futures		2		November 2021			135,900			(5,656	)
LME Primary Aluminum Futures		5		September 2021			339,125			(35,422	)
LME Zinc Futures		6		November 2021			450,713			(7,745	)
NASDAQ 100 E-MINI Futures		8		September 2021			2,493,200			(255,381	)
OMXS30 Index Futures		7		September 2021			190,930			1,812
S&P 500 E-Mini Futures		7		September 2021			1,582,175			(99,324	)
S&P TSX 60 Index Futures		14		September 2021			2,729,537			(78,371	)
TOPIX Index Futures		3		September 2021			535,700			(1,518	)
U.S. T-Note 10 Yr (CBT) Futures		84		December 2021			11,210,063			(47,374	)
									$	(529,260	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		USD	603		COP	2,316,769		09/16/2021		$	11,384
Bank of America, NA		CAD	13,542		USD	10,822		09/24/2021			89,213
Bank of America, NA		USD	932		CAD	1,166		09/24/2021			(7,864	)
Bank of America, NA		ILS	3,070		USD	954		09/30/2021			(3,707	)
Bank of America, NA		RUB	69,776		USD	944		09/30/2021			(4,947	)
Bank of America, NA		USD	3,035		RUB	226,588		09/30/2021			47,540
Bank of America, NA		DKK	3,946		USD	629		10/13/2021			1,651
Bank of America, NA		USD	946		CHF	867		10/28/2021			2,285

28

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		EUR	8,861		USD	10,527		11/08/2021	$	50,753
Bank of America, NA		USD	3,569		EUR	3,004		11/08/2021		(17,205	)
Barclays Bank PLC		MYR	12,656		USD	3,065		09/23/2021		21,637
Barclays Bank PLC		MYR	5,845		USD	1,403		09/23/2021		(3,031	)
Barclays Bank PLC		USD	6,752		MYR	27,924		09/23/2021		(36,643	)
Barclays Bank PLC		USD	2,836		TWD	79,156		10/21/2021		38,447
BNP Paribas SA		CLP	728,056		USD	954		09/16/2021		13,655
BNP Paribas SA		NZD	8,939		USD	6,218		10/15/2021		(80,131	)
BNP Paribas SA		USD	716		TWD	20,055		10/21/2021		11,871
BNP Paribas SA		KRW	1,577,050		USD	1,361		10/28/2021		1,162
BNP Paribas SA		USD	1,420		AUD	1,947		11/09/2021		4,709
Citibank, NA		CLP	483,628		USD	613		09/16/2021		(11,473	)
Citibank, NA		USD	956		CLP	748,674		09/16/2021		10,669
Citibank, NA		USD	1,895		CLP	1,420,552		09/16/2021		(59,984	)
Citibank, NA		USD	1,406		CNY	9,155		09/16/2021		10,307
Citibank, NA		HUF	283,110		USD	942		09/17/2021		(15,779	)
Citibank, NA		USD	961		HUF	287,723		09/17/2021		12,447
Citibank, NA		INR	97,395		USD	1,293		10/08/2021		(36,663	)
Citibank, NA		USD	1,397		SEK	11,947		10/13/2021		(11,748	)
Citibank, NA		TWD	53,024		USD	1,901		10/21/2021		(24,460	)
Citibank, NA		CHF	1,746		USD	1,934		10/28/2021		25,165
Citibank, NA		USD	953		KRW	1,112,041		10/28/2021		5,698
Goldman Sachs Bank USA		BRL	7,568		USD	1,471		09/02/2021		7,825
Goldman Sachs Bank USA		BRL	3,682		USD	702		09/02/2021		(9,941	)
Goldman Sachs Bank USA		USD	513		BRL	2,666		09/02/2021		2,110
Goldman Sachs Bank USA		USD	1,668		BRL	8,584		09/02/2021		(8,191	)
Goldman Sachs Bank USA		USD	965		TWD	26,676		10/21/2021		3,377
HSBC Bank USA		ILS	3,133		USD	961		09/30/2021		(16,350	)
HSBC Bank USA		USD	948		SGD	1,292		11/10/2021		12,464
JPMorgan Chase Bank, NA		BRL	3,885		USD	715		09/02/2021		(36,390	)
JPMorgan Chase Bank, NA		USD	755		BRL	3,885		09/02/2021		(4,017	)
JPMorgan Chase Bank, NA		USD	1,319		INR	97,395		10/08/2021		10,913
JPMorgan Chase Bank, NA		USD	970		EUR	819		11/08/2021		(1,736	)
JPMorgan Chase Bank, NA		HKD	41,560		USD	5,335		11/10/2021		(9,616	)
Morgan Stanley Capital Services, Inc.		BRL	1		USD	0		09/02/2021		(1	)
Morgan Stanley Capital Services, Inc.		USD	1		BRL	0		09/02/2021		(1	)
Morgan Stanley Capital Services, Inc.		CNY	9,153		USD	1,397		09/16/2021		(19,155	)
Morgan Stanley Capital Services, Inc.		USD	458		CLP	346,737		09/16/2021		(9,910	)
Morgan Stanley Capital Services, Inc.		PLN	3,673		EUR	802		09/17/2021		(11,902	)
Morgan Stanley Capital Services, Inc.		USD	1,437		CZK	30,895		09/17/2021		(1,849	)
Morgan Stanley Capital Services, Inc.		USD	957		PLN	3,673		09/17/2021		1,696
Morgan Stanley Capital Services, Inc.		MYR	3,669		USD	878		09/23/2021		(4,115	)
Morgan Stanley Capital Services, Inc.		USD	10		BRL	01		10/04/2021		1
Morgan Stanley Capital Services, Inc.		USD	906		NOK	7,926		10/13/2021		5,668
Morgan Stanley Capital Services, Inc.		AUD	6,883		USD	4,966		11/09/2021		(70,579	)
Morgan Stanley Capital Services, Inc.		GBP	5,582		USD	7,658		11/10/2021		(17,528	)
Morgan Stanley Capital Services, Inc.		USD	1,130		GBP	824		11/10/2021		2,587
Natwest Markets PLC		COP	2,316,161		USD	580		09/16/2021		(34,439	)
Natwest Markets PLC		MYR	5,755		USD	1,390		09/23/2021		6,534
Societe Generale		SEK	21,045		USD	2,445		10/13/2021		5,850
Societe Generale		USD	909		SEK	7,820		10/13/2021		(2,174	)
Standard Chartered Bank		TWD	125,887		USD	4,510		10/21/2021		(61,546	)
Standard Chartered Bank		USD	2,336		KRW	2,674,690		10/28/2021		(29,817	)
State Street Bank & Trust Co.		USD	584		ZAR	8,349		09/16/2021		(10,313	)

29

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.		ZAR	6,734		USD	452		09/16/2021	$	(10,807	)
State Street Bank & Trust Co.		EUR	405		CZK	10,298		09/17/2021		(90	)
State Street Bank & Trust Co.		EUR	405		HUF	143,449		09/17/2021		7,173
State Street Bank & Trust Co.		USD	930		CZK	19,950		09/17/2021		(3,412	)
State Street Bank & Trust Co.		USD	489		PLN	1,868		09/17/2021		(763	)
State Street Bank & Trust Co.		ILS	1,527		USD	475		09/30/2021		(609	)
State Street Bank & Trust Co.		USD	477		ILS	1,551		09/30/2021		6,506
State Street Bank & Trust Co.		THB	62,705		USD	1,888		10/07/2021		(57,362	)
State Street Bank & Trust Co.		USD	962		THB	31,608		10/07/2021		18,316
State Street Bank & Trust Co.		NOK	10,415		USD	1,167		10/13/2021		(30,963	)
State Street Bank & Trust Co.		USD	481		NOK	4,177		10/13/2021		(890	)
State Street Bank & Trust Co.		NZD	686		USD	473		10/15/2021		(10,549	)
State Street Bank & Trust Co.		USD	479		NZD	686		10/15/2021		3,840
State Street Bank & Trust Co.		CHF	867		USD	961		10/28/2021		12,523
State Street Bank & Trust Co.		USD	514		CHF	463		10/28/2021		(6,886	)
State Street Bank & Trust Co.		JPY	2,460,164		USD	22,406		11/17/2021		29,865
State Street Bank & Trust Co.		USD	1,033		JPY	113,101		11/17/2021		(4,404	)
UBS AG		CLP	540,026		USD	702		09/16/2021		5,001
UBS AG		CZK	40,989		USD	1,907		09/17/2021		3,167
UBS AG		CAD	1,216		USD	964		09/24/2021		(28	)
									$	(295,959	)

CENTRALLY CLEARED INTEREST RATE SWAPS

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value			Upfront Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
USD	30,190	02/15/2024	3 Month LIBOR	2.605%	Quarterly/ Semi-Annual	$	1,661,100		$	—	$	1,661,100
AUD	15,000	07/09/2025	6 Month BBSW	3.168%	Semi-Annual		1,120,325			—		1,120,325
AUD	4,740	02/23/2027	6 Month BBSW	3.040%	Semi-Annual		405,919			—		405,919
NZD	20,260	02/24/2027	3 Month BKBM	3.508%	Quarterly/ Semi-Annual		1,380,153			—		1,380,153
AUD	9,490	02/27/2027	6 Month BBSW	2.975%	Semi-Annual		786,654			—		786,654
NZD	10,120	02/28/2027	3 Month BKBM	3.445%	Quarterly/ Semi-Annual		661,938			—		661,938
AUD	8,630	11/13/2030	6 Month BBSW	0.872%	Semi-Annual		(225,559	)		—		(225,559	)

30

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received		Market Value			Upfront Premiums Paid/ (Received)		Unrealized Appreciation/ (Depreciation)
NZD	9,130	11/16/2030	3 Month BKBM	0.839%		Quarterly/ Semi-Annual	$	(579,382	)	$	—	$	(579,382	)
USD	4,800	04/01/2031	1.744%	3 Month LIBOR		Semi-Annual/ Quarterly		(232,095	)		—		(232,095	)
							$	4,979,053		$	—	$	4,979,053

VARIANCE SWAPS

Swap Counterparty & Referenced Obligation	Volatility Strike Rate			Payment Frequency		Notional Amount (000)			Market Value			Upfront Premiums (Paid)/ Received		Unrealized Appreciation/ (Depreciation)
Buy Contracts
Citibank, NA
USD/JPY 04/19/2022*		6.85	%		Maturity		USD	68	$	(82,340	)	$	—	$	(82,340	)
USD/JPY 04/19/2022*		6.85			Maturity		USD	110		(133,197	)		—		(133,197	)
UBS AG
USD/JPY 09/30/2021*		7.85			Maturity		USD	61		(148,269	)		—		(148,269	)
Sale Contracts
Goldman Sachs Bank USA
USD/JPY 09/30/2021*		7.20			Maturity		USD	53		95,759			—		95,759
									$	(268,047	)	$	—	$	(268,047	)

* Termination date

(a) Position, or a portion thereof, has been segregated to collateralize margin requirements for open centrally cleared swaps.

(b) Non-income producing security.

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

(d) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At August 31, 2021, the aggregate market value of these securities amounted to $618,105 or 0.3% of net assets.

(e) Fair valued by the Adviser.

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

(g) When-Issued or delayed delivery security.

(h) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(i) Affiliated investments.

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

(k) As of August 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $54,767,043 and gross unrealized depreciation of investments was $(9,515,323), resulting in net unrealized appreciation of $45,251,720.

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNY – Chinese Yuan Renminbi

31

COP – Colombian Peso

CZK – Czech Koruna

DKK – Danish Krone

EUR – Euro

GBP – Great British Pound

HKD – Hong Kong Dollar

HUF – Hungarian Forint

ILS – Israeli Shekel

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PLN – Polish Zloty

RUB – Russian Ruble

SEK – Swedish Krona

SGD – Singapore Dollar

THB – Thailand Baht

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ADR – American Depositary Receipt

BBSW – Bank Bill Swap Reference Rate (Australia)

BCOM – Bloomberg Commodity Index

BKBM – Bank Bill Benchmark (New Zealand)

CBT – Chicago Board of Trade

CPI – Consumer Price Index

ETF – Exchange Traded Fund

ETS – Emission Trading Scheme

FTSE – Financial Times Stock Exchange

GDR – Global Depositary Receipt

KC HRW – Kansas City Hard Red Winter

LIBOR – London Interbank Offered Rate

LME – London Metal Exchange

MSCI – Morgan Stanley Capital International

NASDAQ – National Association of Securities Dealers Automated Quotations

OMXS – Stockholm Stock Exchange

OSE – Osaka Securities Exchange

RBOB – Reformulated Gasoline Blend-Stock for Oxygen Blending (Unleaded Gas)

REG – Registered Shares

REIT – Real Estate Investment Trust

SPI – Share Price Index

TIPS – Treasury Inflation Protected Security

TOPIX – Tokyo Price Index

TSX – Toronto Stock Exchange

ULSD – Ultra-Low Sulfur Diesel

WTI – West Texas Intermediate

COUNTRY BREAKDOWN¹

August 31, 2021 (unaudited)

66.9%	United States
9.9%	Japan
3.1%	Luxembourg
2.6%	Canada
1.6%	United Kingdom
1.2%	France
1.0%	Switzerland
0.9%	Germany
0.8%	China
0.7%	Sweden
0.6%	Mexico
0.5%	Denmark
0.5%	Netherlands
2.1%	Other
7.6%	Short-Term Investments
100.0%	Total Investments

1 All data are as of August 31, 2021. The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.4% or less in the following: Argentina, Australia, Austria, Belgium, Bermuda, Brazil, Chile, Colombia, Finland, Ireland, Italy, Jordan, Mongolia, Norway, Portugal, Russia, South Africa, Spain, Turkey, United Arab Emirates and Zambia.

32

AB Global Risk Allocation Fund, Inc.

August 31, 2021 (unaudited)

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

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

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

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

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

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

33

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of August 31, 2021:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Inflation-Linked Securities	$	—		$	117,564,165		$	—		$	117,564,165
Common Stocks:
Information Technology		11,805,319			1,082,173			—			12,887,492
Financials		6,717,700			4,368,924			—			11,086,624
Health Care		6,264,062			2,357,600			—			8,621,662
Industrials		5,766,035			1,966,229			13,369			7,745,633
Consumer Staples		4,765,421			1,706,863			—			6,472,284
Consumer Discretionary		4,549,986			1,648,576			—			6,198,562
Materials		4,109,441			1,896,297			—			6,005,738
Utilities		3,103,157			1,932,185			—			5,035,342
Communication Services		2,829,734			1,110,317			—			3,940,051
Energy		1,578,305			1,358,166			—			2,936,471
Real Estate		2,322,579			574,989			0	(a)		2,897,568
Investment Companies		18,023,715			—			0	(a)		18,023,715
Governments - Sovereign Bonds		—			1,328,968			—			1,328,968
Preferred Stocks		50,942			—			—			50,942
Warrants		2,306			—			—			2,306
Short-Term Investments		17,453,700			—			—			17,453,700
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		2,683,534			—			—			2,683,534
Total Investments in Securities		92,025,936			138,895,452			13,369			230,934,757
Other Financial Instruments(b):
Assets:
Futures		1,290,068			—			—			1,290,068
Forward Currency Exchange Contracts		—			504,009			—			504,009
Centrally Cleared Interest Rate Swaps		—			6,016,089			—			6,016,089
Variance Swaps		—			95,759			—			95,759
Liabilities:
Futures		(1,819,328	)		—			—			(1,819,328	)
Forward Currency Exchange Contracts		—			(799,968	)		—			(799,968	)
Centrally Cleared Interest Rate Swaps		—			(1,037,036	)		—			(1,037,036	)
Variance Swaps		—			(363,806	)		—			(363,806	)
Total	$	91,496,676		$	143,310,499		$	13,369		$	234,820,544

^(a)  The Fund held securities with zero market value at period end.

^(b)  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.

34

A summary of the Fund’s transactions in AB mutual funds for the nine months ended August 31, 2021 is as follows:

Fund	Market Value 11/30/2020 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 08/31/2021 (000)		Dividend Income (000)
Government Money Market Portfolio	$	17,913	$	104,677	$	105,136	$	17,454	$	2
Government Money Market Portfolio*		4,092		80,717		82,125		2,684		0	**
Total	$	22,005	$	185,394	$	187,261	$	20,138	$	2

* Investments of cash collateral for securities lending transactions.

** Amount less than $500.

35