UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-05088

THE AB PORTFOLIOS

(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: August 31, 2019

Date of reporting period: November 30, 2018

ITEM 1. SCHEDULE OF INVESTMENTS.

AB All Market Total Return Portfolio

Consolidated Portfolio of Investments

November 30, 2018 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 49.3%
Information Technology - 9.9%
Communications Equipment - 0.3%
Cisco Systems, Inc.		9,572	$	458,212
F5 Networks, Inc. (a)		2,755		473,777
Juniper Networks, Inc.		16,440		471,993
Telefonaktiebolaget LM Ericsson-Class B		32,200		270,254
				1,674,236
Electronic Equipment, Instruments & Components - 0.9%
Amphenol Corp.-Class A		59,558		5,237,531
Avnet, Inc.		11,710		513,132
IPG Photonics Corp. (a)		5,008		711,887
				6,462,550
IT Services - 3.4%
Alliance Data Systems Corp.		2,330		466,839
Amadeus IT Group SA-Class A		16,331		1,172,078
Amdocs Ltd.		7,777		504,805
Booz Allen Hamilton Holding Corp.		29,556		1,516,518
Capgemini SE		9,150		1,068,367
CGI Group, Inc.-Class A (a)		3,560		227,750
Cognizant Technology Solutions Corp.-Class A		30,448		2,168,811
Fidelity National Information Services, Inc.		14,970		1,616,012
Goodman Networks, Inc. (a)(b)(c)(d)		3,005		0
Mastercard, Inc.-Class A		40,030		8,048,832
Otsuka Corp.		26,800		905,621
Paychex, Inc.		27,110		1,918,304
Total System Services, Inc.		13,730		1,199,590
Visa, Inc.-Class A		27,658		3,919,415
				24,732,942
Semiconductors & Semiconductor Equipment - 0.7%
Intel Corp.		51,963		2,562,295
NXP Semiconductors NV		7,800		650,286
Taiwan Semiconductor Manufacturing Co., Ltd. (Sponsored ADR)		20,790		781,496
Texas Instruments, Inc.		11,823		1,180,527
				5,174,604
Software - 3.5%
Adobe, Inc. (a)		2,580		647,296
Avaya Holdings Corp. (a)		8,861		137,966
Check Point Software Technologies Ltd. (a)		12,890		1,441,231
Citrix Systems, Inc. (a)		4,750		517,608
Constellation Software, Inc./Canada		1,346		923,169
Dell Technologies, Inc.-Class V (a)		5,310		560,099
Fortinet, Inc. (a)		5,028		371,268
Intuit, Inc.		2,593		556,276
Microsoft Corp.		127,698		14,160,431
Nice Ltd. (a)		19,050		2,209,731
Oracle Corp.		36,029		1,756,774
Oracle Corp. Japan		18,300		1,189,719
SAP SE		7,521		779,000
Trend Micro, Inc./Japan		3,100		178,124
				25,428,692

Company	Shares		U.S. $ Value
Technology Hardware, Storage & Peripherals - 1.1%
Apple, Inc.		34,351	$	6,134,401
Samsung Electronics Co., Ltd.		52,171		1,954,908
Travelport Worldwide Ltd.		1,124		17,175
				8,106,484
				71,579,508
Health Care - 8.1%
Biotechnology - 1.5%
AbbVie, Inc.		5,909		557,042
Amgen, Inc.		2,696		561,442
Biogen, Inc. (a)		856		285,664
Celgene Corp. (a)		59,359		4,286,907
CSL Ltd.		1,743		227,229
Gilead Sciences, Inc.		57,972		4,170,506
Grifols SA		8,621		242,474
United Therapeutics Corp. (a)		2,830		334,223
				10,665,487
Health Care Equipment & Supplies - 1.8%
Abbott Laboratories		116,529		8,628,972
Baxter International, Inc.		8,240		564,852
Coloplast A/S-Class B		2,870		274,014
Medtronic PLC		7,340		715,870
ResMed, Inc.		180		20,122
West Pharmaceutical Services, Inc.		24,501		2,684,330
				12,888,160
Health Care Providers & Services - 1.5%
Anthem, Inc.		22,990		6,668,709
Centene Corp. (a)		1,070		152,207
CVS Health Corp.		14,940		1,198,188
Humana, Inc.		1,712		564,053
Sinopharm Group Co., Ltd.-Class H		22,000		108,545
UnitedHealth Group, Inc.		5,660		1,592,497
WellCare Health Plans, Inc. (a)		1,720		438,394
				10,722,593
Life Sciences Tools & Services - 0.7%
IQVIA Holdings, Inc. (a)		43,167		5,398,897
Pharmaceuticals - 2.6%
Astellas Pharma, Inc.		48,800		751,997
Bausch Health Cos., Inc. (a)		9,280		225,531
Bristol-Myers Squibb Co.		14,650		783,189
Eli Lilly & Co.		1,469		174,282
Endo International PLC (a)		3,078		37,028
GlaxoSmithKline PLC		39,440		817,588
H Lundbeck A/S		12,740		523,659
Horizon Pharma PLC (a)		1,435		28,671
Johnson & Johnson		5,019		737,291
Merck & Co., Inc.		24,222		1,921,774

Company	Shares		U.S. $ Value
Novo Nordisk A/S-Class B		29,025	$	1,349,994
Pfizer, Inc.		52,469		2,425,642
Roche Holding AG		14,664		3,806,540
Sanofi		6,050		548,495
Zoetis, Inc.		53,989		5,067,947
				19,199,628
				58,874,765
Financials - 7.2%
Banks - 2.7%
Banco do Brasil SA		9,300		107,447
Bank Leumi Le-Israel BM		19,415		127,762
Bank of America Corp.		1,028		29,195
Bank of Communications Co., Ltd.-Class A		40,200		34,007
China CITIC Bank Corp., Ltd.		121,800		99,880
China Minsheng Banking Corp., Ltd.		113,000		99,618
Chongqing Rural Commercial Bank Co., Ltd.-Class H		189,000		110,927
Citigroup, Inc.		26,454		1,713,955
Comerica, Inc.		3,182		251,951
CTBC Financial Holding Co., Ltd.		162,000		107,920
DBS Group Holdings Ltd.		135,900		2,426,875
DNB ASA		41,937		720,482
Hang Seng Bank Ltd.		23,900		553,483
Industrial Bank of Korea		7,086		93,866
JPMorgan Chase & Co.		6,264		696,494
Jyske Bank A/S		62,782		2,466,584
Mitsubishi UFJ Financial Group, Inc.		109,800		600,760
PNC Financial Services Group, Inc. (The)		3,790		514,606
Royal Bank of Canada		19,340		1,418,058
Seven Bank Ltd.		171,000		531,017
Svenska Handelsbanken AB-Class A		25,020		275,877
Swedbank AB-Class A		12,220		284,281
Toronto-Dominion Bank (The)		29,769		1,648,145
Wells Fargo & Co.		78,360		4,253,381
Westpac Banking Corp.		23,810		453,468
				19,620,039
Capital Markets - 2.7%
BlackRock, Inc.-Class A		2,050		877,420
Charles Schwab Corp. (The)		162,550		7,282,240
China Cinda Asset Management Co., Ltd.-Class H		426,000		114,715
China Huarong Asset Management Co., Ltd. (e)		575,000		118,705
Intercontinental Exchange, Inc.		13,910		1,136,725
Julius Baer Group Ltd. (a)		73,888		2,980,264
London Stock Exchange Group PLC		14,040		723,596
Moody’s Corp.		8,630		1,372,774
Morgan Stanley		10,518		466,894
Partners Group Holding AG		1,150		755,915
S&P Global, Inc.		3,400		621,724
Singapore Exchange Ltd.		448,700		2,402,933
Yuanta Financial Holding Co., Ltd.		267,000		136,556
				18,990,461
Consumer Finance - 0.1%
Ally Financial, Inc.		18,670		498,116
Discover Financial Services		918		65,453
				563,569

Company	Shares		U.S. $ Value
Diversified Financial Services - 0.3%
Berkshire Hathaway, Inc.-Class B (a)		556	$	121,341
Chailease Holding Co., Ltd.		37,000		116,221
Cielo SA		337,800		831,531
Fubon Financial Holding Co., Ltd.		69,000		109,664
Pargesa Holding SA		8,380		580,971
Voya Financial, Inc.		10,770		484,112
				2,243,840
Insurance - 1.4%
Admiral Group PLC		20,000		532,224
Aflac, Inc.		3,036		138,867
Arthur J Gallagher & Co.		18,670		1,438,897
China Life Insurance Co., Ltd./Taiwan		110,000		104,613
CNP Assurances		11,720		268,500
Direct Line Insurance Group PLC		101,490		425,237
Everest Re Group Ltd.		2,330		517,446
Fidelity National Financial, Inc.		53,798		1,807,613
Hyundai Marine & Fire Insurance Co., Ltd.		2,840		101,430
Japan Post Holdings Co., Ltd.		18,200		221,610
Lincoln National Corp.		8,070		508,168
Marsh & McLennan Cos., Inc.		6,320		560,584
NN Group NV		28,520		1,216,429
People’s Insurance Co. Group of China Ltd. (The)-Class H		256,000		110,959
Progressive Corp. (The)		7,601		503,870
Prudential Financial, Inc.		5,628		527,681
Reinsurance Group of America, Inc.-Class A		3,320		495,942
Shin Kong Financial Holding Co., Ltd.		319,000		108,761
Swiss Re AG		7,940		726,354
				10,315,185
				51,733,094
Consumer Discretionary - 7.0%
Auto Components - 0.6%
Aptiv PLC		62,840		4,518,196
Diversified Consumer Services - 0.8%
H&R Block, Inc.		17,860		482,399
Laureate Education, Inc.-Class A (a)		3,231		47,657
Service Corp. International/US		92,240		4,261,488
Sotheby’s (a)		29,566		1,182,344
				5,973,888
Hotels, Restaurants & Leisure - 1.8%
Aristocrat Leisure Ltd.		60,970		1,059,822
Caesars Entertainment Corp. (a)(f)		5,492		46,792
Compass Group PLC		77,648		1,665,163
eDreams ODIGEO SA (a)		29,487		109,327
Flight Centre Travel Group Ltd.		4,291		153,749
Las Vegas Sands Corp.		27,600		1,516,344
McDonald’s Corp.		5,760		1,085,817
Starbucks Corp.		111,697		7,452,423
				13,089,437

Company	Shares		U.S. $ Value
Household Durables - 0.1%
Auto Trader Group PLC (e)		100,510	$	563,214
Hovnanian Enterprises, Inc.-Class A (a)(f)		7,965		10,115
Toll Brothers, Inc.		4,803		158,355
				731,684
Internet & Direct Marketing Retail - 1.0%
Amazon.com, Inc. (a)		709		1,198,331
Booking Holdings, Inc. (a)		3,232		6,114,556
				7,312,887
Leisure Products - 0.1%
Amer Sports Oyj (a)		12,860		482,402
Sankyo Co., Ltd.		4,800		192,271
				674,673
Media - 0.1%
Clear Channel Outdoor Holdings, Inc.-Class A		7,440		38,018
Live Nation Entertainment, Inc. (a)		9,020		502,234
				540,252
Multiline Retail - 0.2%
Dollar General Corp.		6,850		760,282
Next PLC		5,290		330,307
				1,090,589
Specialty Retail - 1.9%
AutoZone, Inc. (a)		1,657		1,340,629
Best Buy Co., Inc.		7,030		454,068
Hennes & Mauritz AB-Class B		15,940		293,772
Home Depot, Inc. (The)		10,131		1,826,821
Ross Stores, Inc.		19,937		1,746,481
TJX Cos., Inc. (The)		36,800		1,797,680
Ulta Salon Cosmetics & Fragrance, Inc. (a)		20,868		6,214,282
				13,673,733
Textiles, Apparel & Luxury Goods - 0.4%
Michael Kors Holdings Ltd. (a)		8,630		377,562
Moncler SpA		4,969		162,759
Pandora A/S		4,580		247,395
Samsonite International SA (a)(e)		624,600		1,892,054
				2,679,770
				50,285,109
Industrials - 4.9%
Aerospace & Defense - 0.8%
Arconic, Inc.		15,080		323,918
BAE Systems PLC		96,250		605,062
Boeing Co. (The)		6,806		2,360,049
Harris Corp.		2,980		425,991
Huntington Ingalls Industries, Inc.		2,200		474,100
Raytheon Co.		10,560		1,851,590
				6,040,710

Company	Shares		U.S. $ Value
Air Freight & Logistics - 0.1%
CH Robinson Worldwide, Inc.		5,956	$	549,917
Airlines - 0.1%
Qantas Airways Ltd.		207,000		904,896
Building Products - 0.8%
Allegion PLC		58,668		5,373,402
Commercial Services & Supplies - 0.4%
Republic Services, Inc.-Class A		6,310		488,015
Secom Co., Ltd.		29,500		2,498,251
Toppan Printing Co., Ltd.		12,300		198,083
				3,184,349
Construction & Engineering - 0.0%
China State Construction Engineering Corp., Ltd.		139,400		116,328
Willscot Corp. (b)(c)		1,235		17,018
				133,346
Consumer Cyclical - Automotive - 0.0%
Exide Technologies (a)(c)(d)(g)		2,460		935
Exide Technologies/Old (a)(c)(d)(g)		1,244		473
				1,408
Electrical Equipment - 0.0%
Emerson Electric Co.		696		46,994
Industrial Conglomerates - 0.0%
CITIC Ltd.		77,000		123,953
Machinery - 0.9%
Dover Corp.		39,040		3,314,105
Kone Oyj-Class B		32,750		1,624,488
Mitsubishi Heavy Industries Ltd.		5,400		205,560
Pentair PLC		11,803		503,988
Stanley Black & Decker, Inc.		5,708		746,892
				6,395,033
Professional Services - 1.5%
Experian PLC		31,390		765,773
RELX PLC (a)		155,932		3,246,398
Verisk Analytics, Inc.-Class A (a)		44,440		5,480,341
Wolters Kluwer NV		18,190		1,099,695
				10,592,207
Road & Rail - 0.2%
ALD SA (e)		47,743		629,140
Central Japan Railway Co.		1,100		226,504
ComfortDelGro Corp., Ltd.		65,400		100,450
CSX Corp.		8,061		585,471
DSV A/S		729		55,831
				1,597,396

Company	Shares		U.S. $ Value
Trading Companies & Distributors - 0.0%
Emeco Holdings Ltd. (a)		4,397	$	8,325
Transportation Infrastructure - 0.1%
Flughafen Zurich AG		4,723		773,030
				35,724,966
Communication Services - 4.5%
Diversified Telecommunication Services - 0.6%
China Communications Services Corp., Ltd.-Class H		122,000		102,181
HKT Trust & HKT Ltd.-Class SS		1,356,000		1,964,154
Nippon Telegraph & Telephone Corp.		37,400		1,542,789
Telenor ASA		5,019		97,357
Verizon Communications, Inc.		14,739		888,762
				4,595,243
Entertainment - 0.1%
Daiichikosho Co., Ltd.		9,700		443,709
Interactive Media & Services - 2.3%
Alphabet, Inc.-Class A (a)		558		619,185
Alphabet, Inc.-Class C (a)		10,151		11,109,559
Facebook, Inc.-Class A (a)		32,590		4,582,479
				16,311,223
Media - 0.7%
Charter Communications, Inc.-Class A (a)		193		63,536
Comcast Corp.-Class A		32,398		1,263,846
DISH Network Corp.-Class A (a)		609		19,951
Interpublic Group of Cos., Inc. (The)		20,700		486,450
Naspers Ltd.-Class N		13,100		2,611,525
Omnicom Group, Inc.		7,250		558,033
Sirius XM Holdings, Inc. (f)		72,236		450,030
				5,453,371
Wireless Telecommunication Services - 0.8%
China Mobile Ltd.		124,000		1,236,063
DiGi.Com Bhd		101,600		103,113
Globe Telecom, Inc.		2,660		99,966
KDDI Corp.		102,900		2,417,811
SoftBank Group Corp.		20,600		1,739,043
				5,595,996
				32,399,542
Consumer Staples - 3.2%
Beverages - 0.5%
Ambev SA		136,200		596,589
Diageo PLC		21,725		784,566
PepsiCo, Inc.		11,652		1,420,845
Wuliangye Yibin Co., Ltd.-Class A		85,200		647,716
				3,449,716
Food & Staples Retailing - 0.7%
Dairy Farm International Holdings Ltd.		11,700		103,187

Company	Shares		U.S. $ Value
J Sainsbury PLC		86,410	$	336,722
Koninklijke Ahold Delhaize NV		53,992		1,391,384
Kroger Co. (The)		16,909		501,521
President Chain Store Corp.		11,000		113,871
Southeastern Grocers, Inc. Npv (a)(b)(c)(d)		2,013		67,436
Sysco Corp.		11,220		756,228
Walgreens Boots Alliance, Inc.		7,178		607,761
Walmart, Inc.		14,650		1,430,572
				5,308,682
Food Products - 0.7%
Archer-Daniels-Midland Co.		10,640		489,653
Danone SA		10,015		747,775
Hershey Co. (The)		16,200		1,754,460
Kellogg Co.		7,510		478,012
Nestle Malaysia Bhd		3,800		135,672
Salmar ASA		26,840		1,517,937
Uni-President Enterprises Corp.		53,000		124,687
Wilmar International Ltd.		46,900		104,091
				5,352,287
Household Products - 0.2%
Kimberly-Clark Corp.		436		50,301
Procter & Gamble Co. (The)		17,350		1,639,749
				1,690,050
Personal Products - 0.5%
L’Oreal SA		11,172		2,636,198
Unilever PLC		11,570		627,027
				3,263,225
Tobacco - 0.6%
Altria Group, Inc.		10,171		557,676
British American Tobacco PLC		33,424		1,170,235
Imperial Brands PLC		27,900		859,993
Philip Morris International, Inc.		17,096		1,479,317
Swedish Match AB		5,556		217,143
				4,284,364
				23,348,324
Energy - 1.7%
Energy Equipment & Services - 0.0%
TechnipFMC PLC		12,062		278,512
Oil, Gas & Consumable Fuels - 1.7%
Berry Petroleum Corp.		9,529		118,060
CHC Group LLC (a)(g)		2,966		19,279
Chesapeake Energy Corp. (a)(f)		13,075		38,179
Chevron Corp.		4,640		551,881
ConocoPhillips		909		60,158
Denbury Resources, Inc. (a)		5,777		13,056
EP Energy Corp.-Class A (a)(f)		6,082		6,690
Equinor ASA		39,680		929,499
Exxon Mobil Corp.		8,057		640,531
Formosa Petrochemical Corp.		27,000		98,141
Halcon Resources Corp. (a)		670		1,876

Company	Shares		U.S. $ Value
Husky Energy, Inc.		13,960	$	173,364
K2016470219 South Africa Ltd.-Series A (a)(b)(c)(d)		465,862		0
K2016470219 South Africa Ltd.-Series B (a)(b)(c)(d)		73,623		0
LUKOIL PJSC (Sponsored ADR)		17,984		1,316,429
Marathon Petroleum Corp.		5,082		331,143
Oasis Petroleum, Inc. (a)		1,937		13,830
Paragon Litigation-Class A (b)(d)		649		541
Paragon Litigation-Class B (b)(d)		974		36,525
Peabody Energy Corp.		1,456		45,340
Phillips 66		3,286		307,307
Repsol SA		42,830		737,804
Roan Resources, Inc. (a)		99		1,019
Royal Dutch Shell PLC-Class B		124,936		3,825,941
Suncor Energy, Inc.		6,190		199,586
Tervita Corp. (a)(b)		62,228		394,823
TOTAL SA		28,684		1,595,397
Triangle Petroleum Corp. (a)		7,408		104
Valero Energy Corp.		4,092		326,951
Vantage Drilling International (a)(b)(d)		200		56,000
Whiting Petroleum Corp. (a)		1,269		38,413
				11,877,867
				12,156,379
Materials - 1.4%
Chemicals - 1.2%
BASF SE		32,569		2,381,674
Covestro AG (e)		8,801		509,781
Ecolab, Inc.		20,400		3,273,996
Ingevity Corp. (a)		2		196
LyondellBasell Industries NV-Class A		15,818		1,475,977
Methanex Corp.		2,832		156,920
Mitsubishi Chemical Holdings Corp.		24,200		198,522
Nan Ya Plastics Corp.		13,000		31,457
Petronas Chemicals Group Bhd		47,200		103,911
Sinopec Shanghai Petrochemical Co., Ltd.		136,500		98,902
Sinopec Shanghai Petrochemical Co., Ltd.-Class H		178,000		81,164
Sumitomo Chemical Co., Ltd.		37,300		203,050
				8,515,550
Containers & Packaging - 0.0%
Smurfit Kappa Group PLC		6,652		179,816
Westrock Co.		16		754
				180,570
Metals & Mining - 0.1%
Anglo American PLC		17,187		346,227
Artsonig Pty Ltd. (b)(c)(d)		51,133		818
BHP Billiton Ltd.		11,320		251,523
Constellium NV-Class A (a)		20,428		171,391
Neenah Enterprises, Inc. (a)(b)(c)(d)		10,896		3,160
				773,119

Company	Shares		U.S. $ Value
Paper & Forest Products - 0.1%
Mondi PLC		23,549	$	515,674
				9,984,913
Real Estate - 0.8%
Equity Real Estate Investment Trusts (REITs) - 0.4%
Host Hotels & Resorts, Inc.		25,520		484,880
Kimco Realty Corp.		29,580		483,633
Lamar Advertising Co.-Class A		6,030		457,315
Nippon Building Fund, Inc.		87		542,217
Simon Property Group, Inc.		3,025		561,712
Weyerhaeuser Co.		15,041		397,233
				2,926,990
Real Estate Management & Development - 0.4%
CBRE Group, Inc.-Class A (a)		39,822		1,739,425
Vonovia SE		21,980		1,068,626
				2,808,051
				5,735,041
Utilities - 0.6%
Electric Utilities - 0.2%
CLP Holdings Ltd.		10,500		115,911
EDP-Energias de Portugal SA		57,288		200,210
Endesa SA		12,610		281,728
Manila Electric Co.		15,130		111,146
NextEra Energy, Inc.		1,317		239,312
Red Electrica Corp. SA		13,604		293,644
				1,241,951
Independent Power and Renewable Electricity Producers - 0.1%
AES Corp./VA		32,960		510,550
Multi-Utilities - 0.1%
Ameren Corp.		9,660		662,869
Centrica PLC		173,906		306,364
				969,233
Water Utilities - 0.2%
Guangdong Investment Ltd.		776,000		1,500,001
				4,221,735
Total Common Stocks (cost $323,822,408)				356,043,376
INVESTMENT COMPANIES - 25.2%
Funds and Investment Trusts - 25.2% (h)
AB Cap Fund, Inc.-AB All Market Alternative Return Portfolio-Class ADV (a)(i)		16,158,196		120,378,562
iShares Core S&P Mid-Cap ETF		3,061		574,825
iShares JP Morgan USD Emerging Markets Bond ETF		6,100		632,509
iShares MSCI Emerging Markets ETF		14,116		579,885

Company	Shares		U.S. $ Value
iShares Russell 2000 ETF		591	$	90,199
VanEck Vectors JP Morgan EM Local Currency Bond ETF-Class E		93,525		3,081,649
Vanguard FTSE Emerging Markets ETF		449,729		17,849,744
Vanguard Global ex-U.S. Real Estate ETF		335,163		18,454,075
Vanguard Real Estate ETF		246,787		20,231,598
Total Investment Companies (cost $200,044,620)				181,873,046
	Principal Amount (000)
CORPORATES - NON-INVESTMENT GRADE - 6.7%
Industrial - 5.4%
Basic - 0.5%
AK Steel Corp.
7.00%, 3/15/27 (f)	$	133		110,418
7.625%, 10/01/21 (f)		71		68,636
CF Industries, Inc.
3.45%, 6/01/23		78		72,743
5.375%, 3/15/44		53		44,785
Cleveland-Cliffs, Inc.
5.75%, 3/01/25		212		194,938
Commercial Metals Co.
5.375%, 7/15/27		140		127,611
Constellium NV
5.75%, 5/15/24 (e)		250		234,933
5.875%, 2/15/26 (e)		250		228,305
Crown Americas LLC/Crown Americas Capital Corp. VI
4.75%, 2/01/26 (e)		102		98,330
Eldorado Gold Corp.
6.125%, 12/15/20 (e)		64		59,391
ERP Iron Ore, LLC
9.039%, 12/31/19 (a)(b)(c)(d)(j)(k)		17		17,029
Freeport-McMoRan, Inc.
3.55%, 3/01/22		204		193,967
3.875%, 3/15/23		186		173,135
Grinding Media, Inc./Moly-Cop AltaSteel Ltd.
7.375%, 12/15/23 (e)		100		99,846
Joseph T Ryerson & Son, Inc.
11.00%, 5/15/22 (e)		385		410,183
Kraton Polymers LLC/Kraton Polymers Capital Corp.
5.25%, 5/15/26 (e)	EUR	100		104,592
Magnetation LLC/Mag Finance Corp.
11.00%, 5/15/18 (a)(d)(l)(m)	$	146		1
Momentive Performance Materials, Inc.
3.88%, 10/24/21		85		91,158
8.875%, 10/15/20 (a)(c)(d)(g)		85		0
Multi-Color Corp.
4.875%, 11/01/25 (e)		127		113,986
New Gold, Inc.
6.25%, 11/15/22 (e)		32		27,489

	Principal Amount (000)		U.S. $ Value
Nufarm Australia Ltd./Nufarm Americas, Inc.
5.75%, 4/30/26 (e)	$	61	$	56,208
OCI NV
5.00%, 4/15/23 (e)	EUR	100		117,041
Pactiv LLC
7.95%, 12/15/25	$	88		88,984
Peabody Energy Corp.
6.00%, 3/31/22 (e)(f)		13		12,619
Plastipak Holdings, Inc.
6.25%, 10/15/25 (e)		132		119,080
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Lu
5.125%, 7/15/23 (e)		152		148,203
Sealed Air Corp.
6.875%, 7/15/33 (e)		170		173,784
SPCM SA
4.875%, 9/15/25 (e)		142		129,835
Starfruit Finco BV/Starfruit US Holdco LLC
8.00%, 10/01/26 (e)(f)		150		144,042
Teck Resources Ltd.
5.20%, 3/01/42		88		77,457
5.40%, 2/01/43		79		70,765
8.50%, 6/01/24 (e)		10		10,764
United States Steel Corp.
6.25%, 3/15/26		36		32,915
6.875%, 8/15/25		103		97,176
Valvoline, Inc.
5.50%, 7/15/24		17		16,879
W.R. Grace & Co.-Conn
5.625%, 10/01/24 (e)		23		22,996
				3,790,224
Capital Goods - 0.3%
A123 Systems, Inc.
Zero Coupon, 4/15/16 (a)(b)(d)(l)(n)		50		3,522
ARD Finance SA
7.125%, 9/15/23 (k)		200		184,616
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
4.25%, 9/15/22 (e)		191		185,455
4.625%, 5/15/23 (e)		43		41,434
7.25%, 5/15/24 (e)		7		7,163
Ball Corp.
4.375%, 12/15/20		88		88,449
5.00%, 3/15/22		142		145,652
BBA US Holdings, Inc.
5.375%, 5/01/26 (e)		50		48,341
Bombardier, Inc.
5.75%, 3/15/22 (e)		364		344,773
6.00%, 10/15/22 (e)		4		3,792
6.125%, 1/15/23 (e)		14		13,285
7.50%, 3/15/25 (e)		20		18,989

	Principal Amount (000)		U.S. $ Value
BWAY Holding Co.
4.75%, 4/15/24 (e)	EUR	105	$	115,037
7.25%, 4/15/25 (e)	$	140		126,696
Clean Harbors, Inc.
5.125%, 6/01/21		120		120,679
Cleaver-Brooks, Inc.
7.875%, 3/01/23 (e)		65		64,596
Gates Global LLC/Gates Global Co.
6.00%, 7/15/22 (e)		49		49,096
GFL Environmental, Inc.
5.625%, 5/01/22 (e)		157		147,864
Hulk Finance Corp.
7.00%, 6/01/26 (e)		8		7,199
JELD-WEN, Inc.
4.625%, 12/15/25 (e)		17		15,163
4.875%, 12/15/27 (e)		23		20,078
Owens-Brockway Glass Container, Inc.
5.00%, 1/15/22 (e)		47		47,231
Stevens Holding Co., Inc.
6.125%, 10/01/26 (e)		18		17,773
TransDigm UK Holdings PLC
6.875%, 5/15/26 (e)		265		261,907
TransDigm, Inc.
6.50%, 7/15/24		145		145,212
				2,224,002
Communications - Media - 0.6%
Altice Financing SA
6.625%, 2/15/23 (e)		162		160,016
7.50%, 5/15/26 (e)		285		267,900
Altice France SA/France
7.375%, 5/01/26 (e)		450		432,090
CCO Holdings LLC/CCO Holdings Capital Corp.
5.125%, 2/15/23		125		124,549
5.125%, 5/01/27 (e)		98		92,867
5.25%, 9/30/22		15		14,938
5.375%, 5/01/25 (e)		30		29,259
5.875%, 5/01/27 (e)		48		47,369
Clear Channel Worldwide Holdings, Inc.
Series A
6.50%, 11/15/22		98		99,594
Series B
6.50%, 11/15/22		122		124,031
CSC Holdings LLC
5.375%, 2/01/28 (e)		200		187,972
6.625%, 10/15/25 (e)		6		6,628
7.75%, 7/15/25 (e)		200		209,558
10.875%, 10/15/25 (e)		236		271,981
DISH DBS Corp.
5.00%, 3/15/23		38		33,717
5.875%, 11/15/24		20		17,001
6.75%, 6/01/21		69		70,025

	Principal Amount (000)		U.S. $ Value
Gray Television, Inc.
5.125%, 10/15/24 (e)	$	150	$	143,748
5.875%, 7/15/26 (e)		85		82,844
iHeartCommunications, Inc.
6.875%, 6/15/18 (a)(b)(d)(l)		121		24,815
9.00%, 12/15/19 (a)(j)		175		125,114
11.25%, 3/01/21 (a)(e)(j)		25		17,200
Meredith Corp.
6.875%, 2/01/26 (e)		203		207,590
Netflix, Inc.
4.875%, 4/15/28		336		309,846
Radiate Holdco LLC/Radiate Finance, Inc.
6.625%, 2/15/25 (e)		43		38,280
6.875%, 2/15/23 (e)		60		56,168
RR Donnelley & Sons Co.
7.875%, 3/15/21		70		71,996
Sinclair Television Group, Inc.
5.125%, 2/15/27 (e)		150		133,949
6.125%, 10/01/22		41		41,907
TEGNA, Inc.
5.125%, 7/15/20		62		61,843
UPC Holding BV
5.50%, 1/15/28 (e)		217		198,227
Urban One, Inc.
7.375%, 4/15/22 (e)		160		157,869
Ziggo Bond Co. BV
5.875%, 1/15/25 (e)		44		40,133
Ziggo BV
5.50%, 1/15/27 (e)		268		249,437
				4,150,461
Communications - Telecommunications - 0.4%
C&W Senior Financing DAC
6.875%, 9/15/27 (e)		200		186,104
CenturyLink, Inc.
Series S
6.45%, 6/15/21		63		63,885
Series T
5.80%, 3/15/22		93		92,031
Embarq Corp.
7.995%, 6/01/36		178		166,907
Frontier Communications Corp.
7.125%, 1/15/23		155		99,703
7.625%, 4/15/24		133		76,849
7.875%, 1/15/27		31		15,921
8.75%, 4/15/22		64		46,705
11.00%, 9/15/25		131		92,686
Hughes Satellite Systems Corp.
6.50%, 6/15/19		71		71,912
7.625%, 6/15/21		47		49,075
Intelsat Jackson Holdings SA
5.50%, 8/01/23		268		236,543
8.00%, 2/15/24 (e)		25		25,866
9.50%, 9/30/22 (e)		107		123,481
9.75%, 7/15/25 (e)		147		151,738

	Principal Amount (000)		U.S. $ Value
Level 3 Financing, Inc.
5.25%, 3/15/26	$	164	$	158,392
Level 3 Parent LLC
5.75%, 12/01/22		18		18,404
Qwest Corp.
6.75%, 12/01/21		123		127,827
6.875%, 9/15/33		27		25,740
Sable International Finance Ltd.
6.875%, 8/01/22 (e)		102		105,037
Sprint Capital Corp.
6.875%, 11/15/28		150		144,877
Sprint Communications, Inc.
7.00%, 3/01/20 (e)		149		153,950
T-Mobile USA, Inc.
6.50%, 1/15/24-1/15/26		152		156,521
Telecom Italia Capital SA
6.375%, 11/15/33		136		121,241
7.20%, 7/18/36		148		140,378
7.721%, 6/04/38		68		67,270
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
6.00%, 4/15/23 (e)		28		26,662
Windstream Services LLC/Windstream Finance Corp.
9.00%, 6/30/25 (e)		40		29,303
Zayo Group LLC/Zayo Capital, Inc.
5.75%, 1/15/27 (e)		205		195,849
				2,970,857
Consumer Cyclical - Automotive - 0.2%
American Axle & Manufacturing, Inc.
6.25%, 4/01/25 (f)		125		116,267
BCD Acquisition, Inc.
9.625%, 9/15/23 (e)		279		295,225
Cooper-Standard Automotive, Inc.
5.625%, 11/15/26 (e)		87		78,836
Dana Financing Luxembourg SARL
6.50%, 6/01/26 (e)		9		9,017
Dana, Inc.
5.50%, 12/15/24		33		31,370
Exide Technologies
7.00%, 4/30/25 (d)(k)(m)(n)		236		129,763
11.00%, 4/30/22 (d)(k)(m)		86		69,038
IHO Verwaltungs GmbH
4.125%, 9/15/21 (e)(k)		142		137,111
Meritor, Inc.
6.25%, 2/15/24		69		66,784
Navistar International Corp.
6.625%, 11/01/25 (e)		132		130,306
Tenneco, Inc.
5.00%, 7/15/26		167		135,666
Titan International, Inc.
6.50%, 11/30/23		144		132,954
				1,332,337

	Principal Amount (000)			U.S. $ Value
Consumer Cyclical - Entertainment - 0.1%
AMC Entertainment Holdings, Inc.
5.75%, 6/15/25	$	10		$	9,513
5.875%, 11/15/26		162			144,225
National CineMedia LLC
5.75%, 8/15/26		33			30,662
Silversea Cruise Finance Ltd.
7.25%, 2/01/25 (e)		213			228,390
					412,790
Consumer Cyclical - Other - 0.5%
Beazer Homes USA, Inc.
5.875%, 10/15/27		88			72,149
6.75%, 3/15/25		64			56,121
8.75%, 3/15/22		155			158,094
Caesars Entertainment Corp.
5.00%, 10/01/24 (d)(n)		26			37,422
Cirsa Finance International SARL
6.25%, 12/20/23 (e)	EUR	110			126,455
Five Point Operating Co. LP/Five Point Capital Corp.
7.875%, 11/15/25 (e)	$	173			170,251
International Game Technology PLC
6.50%, 2/15/25 (e)		200			204,536
K. Hovnanian Enterprises, Inc.
5.00%, 11/01/21		103			87,938
10.00%, 7/15/22 (e)		220			203,588
10.50%, 7/15/24 (e)		219			195,966
KB Home
7.00%, 12/15/21		54			55,708
7.50%, 9/15/22		25			25,860
8.00%, 3/15/20		14			14,793
Lennar Corp.
4.125%, 12/01/18		71			70,860
4.50%, 11/15/19		148			148,538
6.25%, 12/15/21 (e)		0	**		280
6.25%, 12/15/21		55			56,784
Marriott Ownership Resorts, Inc./ILG LLC
6.50%, 9/15/26 (e)		151			150,139
MDC Holdings, Inc.
5.50%, 1/15/24		14			13,777
5.625%, 2/01/20		57			57,607
6.00%, 1/15/43		270			210,007
Meritage Homes Corp.
7.00%, 4/01/22		11			11,001
MGM Resorts International
8.625%, 2/01/19		110			110,677
PulteGroup, Inc.
5.00%, 1/15/27		21			19,757
6.00%, 2/15/35		130			116,050
7.875%, 6/15/32		151			156,679
Shea Homes LP/Shea Homes Funding Corp.
5.875%, 4/01/23 (e)		18			16,382
6.125%, 4/01/25 (e)		146			131,440

	Principal Amount (000)		U.S. $ Value
Standard Industries, Inc./NJ
6.00%, 10/15/25 (e)	$	74	$	72,495
Stars Group Holdings BV/Stars Group US Co-Borrower LLC
7.00%, 7/15/26 (e)		122		122,767
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp.
5.875%, 5/15/25 (e)		197		185,172
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc.
5.625%, 3/01/24 (e)		183		173,700
Toll Brothers Finance Corp.
4.875%, 3/15/27		27		24,849
5.875%, 2/15/22		86		87,923
				3,345,765
Consumer Cyclical - Restaurants - 0.1%
Golden Nugget, Inc.
8.75%, 10/01/25 (e)		140		140,963
IRB Holding Corp.
6.75%, 2/15/26 (e)		247		228,747
				369,710
Consumer Cyclical - Retailers - 0.1%
FirstCash, Inc.
5.375%, 6/01/24 (e)		171		167,814
JC Penney Corp., Inc.
6.375%, 10/15/36		37		13,320
L Brands, Inc.
6.875%, 11/01/35		185		156,686
7.00%, 5/01/20		106		110,543
Neiman Marcus Group Ltd. LLC
8.00%, 10/15/21 (e)		259		126,045
PetSmart, Inc.
7.125%, 3/15/23 (e)		154		103,519
Sonic Automotive, Inc.
5.00%, 5/15/23		153		139,626
6.125%, 3/15/27		47		42,453
				860,006
Consumer Non-Cyclical - 0.7%
Acadia Healthcare Co., Inc.
5.625%, 2/15/23		139		136,584
Air Medical Group Holdings, Inc.
6.375%, 5/15/23 (e)		85		70,223
Albertsons Cos. LLC/Safeway, Inc./New Albertsons LP/Albertson’s LLC
5.75%, 3/15/25		60		53,775
6.625%, 6/15/24		213		205,093
Aveta, Inc.
10.50%, 3/01/21 (a)(c)(d)(m)		1,149		0
Bausch Health Cos., Inc.
5.50%, 3/01/23 (e)		152		147,003

	Principal Amount (000)		U.S. $ Value
5.625%, 12/01/21 (e)	$	180	$	179,777
5.875%, 5/15/23 (e)		190		185,184
Catalent Pharma Solutions, Inc.
4.875%, 1/15/26 (e)		55		52,161
Charles River Laboratories International, Inc.
5.50%, 4/01/26 (e)		31		31,044
CHS/Community Health Systems, Inc.
6.25%, 3/31/23		134		124,294
8.125%, 6/30/24 (e)		97		74,262
DaVita, Inc.
5.00%, 5/01/25		150		141,125
Diamond BC BV
5.625%, 8/15/25 (e)	EUR	123		120,550
Endo Finance LLC
5.75%, 1/15/22 (e)	$	174		154,915
Endo Finance LLC/Endo Finco, Inc.
5.375%, 1/15/23 (e)		28		23,037
Envision Healthcare Corp.
8.75%, 10/15/26 (e)		20		18,749
First Quality Finance Co., Inc.
4.625%, 5/15/21 (e)		233		229,634
Hadrian Merger Sub, Inc.
8.50%, 5/01/26 (e)		98		90,895
HCA, Inc.
4.25%, 10/15/19		451		452,547
6.50%, 2/15/20		370		380,370
Kinetic Concepts, Inc./KCI USA, Inc.
7.875%, 2/15/21 (e)		118		120,704
Lamb Weston Holdings, Inc.
4.625%, 11/01/24 (e)		140		135,941
Mallinckrodt International Finance SA
4.75%, 4/15/23 (f)		4		3,244
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
5.50%, 4/15/25 (e)(f)		52		41,218
5.625%, 10/15/23 (e)(f)		78		67,036
5.75%, 8/01/22 (e)(f)		305		277,903
MEDNAX, Inc.
5.25%, 12/01/23 (e)		24		23,797
MPH Acquisition Holdings LLC
7.125%, 6/01/24 (e)		140		139,761
Post Holdings, Inc.
5.00%, 8/15/26 (e)		250		229,382
5.625%, 1/15/28 (e)		105		97,622
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc.
9.75%, 12/01/26 (e)(f)		328		326,399
Spectrum Brands, Inc.
5.75%, 7/15/25		140		132,591
6.625%, 11/15/22		26		26,746
Sunshine Mid BV
6.50%, 5/15/26 (e)	EUR	103		109,027

	Principal Amount (000)		U.S. $ Value
Tenet Healthcare Corp.
4.50%, 4/01/21	$	47	$	47,002
6.75%, 6/15/23		84		82,963
7.50%, 1/01/22 (e)		13		13,999
8.125%, 4/01/22		369		383,349
Vizient, Inc.
10.375%, 3/01/24 (e)		87		94,826
				5,224,732
Energy - 1.2%
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.
7.875%, 12/15/24		56		39,980
Antero Resources Corp.
5.125%, 12/01/22		151		147,899
Berry Petroleum Co. LLC
6.375%, 9/15/22 (a)(b)(c)(d)		135		0
7.00%, 2/15/26 (e)		71		67,452
Bristow Group, Inc.
8.75%, 3/01/23 (e)		33		27,975
Bruin E&P Partners LLC
8.875%, 8/01/23 (e)		124		115,365
California Resources Corp.
5.50%, 9/15/21		45		35,786
8.00%, 12/15/22 (e)(f)		418		320,376
Carrizo Oil & Gas, Inc.
6.25%, 4/15/23 (f)		58		55,485
8.25%, 7/15/25		169		173,245
Cheniere Corpus Christi Holdings LLC
5.875%, 3/31/25		81		83,877
Cheniere Energy Partners LP
5.25%, 10/01/25		137		133,376
Chesapeake Energy Corp.
6.125%, 2/15/21		199		195,561
6.875%, 11/15/20		1		1,431
8.00%, 6/15/27		219		208,852
Covey Park Energy LLC/Covey Park Finance Corp.
7.50%, 5/15/25 (e)		41		38,769
Denbury Resources, Inc.
7.50%, 2/15/24 (e)(f)		104		91,861
9.25%, 3/31/22 (e)		63		62,723
Diamond Offshore Drilling, Inc.
4.875%, 11/01/43		367		216,721
7.875%, 8/15/25		222		198,621
Energy Transfer LP
4.25%, 3/15/23		290		282,901
7.50%, 10/15/20		152		160,609
Ensco PLC
4.50%, 10/01/24		16		12,117
5.20%, 3/15/25 (f)		220		165,106
EP Energy LLC/Everest Acquisition Finance, Inc.
7.75%, 9/01/22		357		206,547
9.375%, 5/01/24 (e)		226		125,484

	Principal Amount (000)		U.S. $ Value
Genesis Energy LP/Genesis Energy Finance Corp.
5.625%, 6/15/24	$	51	$	44,883
6.25%, 5/15/26		159		139,914
6.50%, 10/01/25		42		38,093
6.75%, 8/01/22		26		25,815
Gulfport Energy Corp.
6.00%, 10/15/24		54		49,471
6.375%, 5/15/25-1/15/26		340		306,300
Hess Infrastructure Partners LP/Hess Infrastructure Partners Finance Corp.
5.625%, 2/15/26 (e)		197		191,549
HighPoint Operating Corp.
7.00%, 10/15/22		81		76,826
8.75%, 6/15/25		26		25,797
Hilcorp Energy I LP/Hilcorp Finance Co.
5.75%, 10/01/25 (e)		295		272,859
Indigo Natural Resources LLC
6.875%, 2/15/26 (e)		135		125,188
Murphy Oil Corp.
5.875%, 12/01/42		51		43,211
Murphy Oil USA, Inc.
5.625%, 5/01/27		6		5,518
6.00%, 8/15/23		140		142,246
Nabors Industries, Inc.
4.625%, 9/15/21		139		129,107
5.50%, 1/15/23(f)		228		200,685
5.75%, 2/01/25		34		27,551
Nine Energy Service, Inc.
8.75%, 11/01/23 (e)		68		67,100
Noble Holding International Ltd.
7.75%, 1/15/24 (f)		231		202,125
7.95%, 4/01/25		48		41,507
Parkland Fuel Corp.
6.00%, 4/01/26 (e)		142		137,740
PDC Energy, Inc.
5.75%, 5/15/26		252		235,033
Precision Drilling Corp.
7.125%, 1/15/26 (e)		105		98,888
QEP Resources, Inc.
5.25%, 5/01/23		60		57,695
5.375%, 10/01/22		81		80,922
5.625%, 3/01/26 (f)		54		49,510
Range Resources Corp.
4.875%, 5/15/25		62		56,745
5.00%, 8/15/22-3/15/23		220		208,810
5.875%, 7/01/22		13		12,961
Rowan Cos., Inc.
4.75%, 1/15/24		160		130,251
5.85%, 1/15/44		86		56,707
Sanchez Energy Corp.
6.125%, 1/15/23		317		79,678
7.25%, 2/15/23 (e)(f)		103		88,335
SandRidge Energy, Inc.
7.50%, 2/15/23 (a)(b)(c)(d)		69		0
8.125%, 10/15/22 (b)(c)(d)		113		0

	Principal Amount (000)		U.S. $ Value
SemGroup Corp.
6.375%, 3/15/25	$	78	$	74,421
7.25%, 3/15/26		70		67,203
SemGroup Corp./Rose Rock Finance Corp.
5.625%, 11/15/23		29		27,036
SM Energy Co.
5.00%, 1/15/24 (f)		211		195,688
5.625%, 6/01/25 (f)		15		13,806
6.625%, 1/15/27		98		92,681
Southern Star Central Corp.
5.125%, 7/15/22 (e)		85		83,496
SRC Energy, Inc.
6.25%, 12/01/25		106		92,866
Sunoco LP/Sunoco Finance Corp.
5.50%, 2/15/26		180		171,450
5.875%, 3/15/28		136		128,690
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
4.25%, 11/15/23		45		43,096
5.875%, 4/15/26 (e)		112		111,472
Transocean Phoenix 2 Ltd.
7.75%, 10/15/24 (e)		121		123,087
Transocean Pontus Ltd.
6.125%, 8/01/25 (e)		65		63,656
Transocean, Inc.
6.80%, 3/15/38		154		111,489
7.50%, 1/15/26 (e)		103		95,811
9.00%, 7/15/23 (e)		70		71,178
Vantage Drilling International
7.50%, 11/01/19 (a)(b)(c)(d)		111		0
10.00%, 12/31/20 (b)(d)		3		2,830
10.00%, 12/31/20 (d)(m)		2		2,123
Vine Oil & Gas LP/Vine Oil & Gas Finance Corp.
8.75%, 4/15/23 (e)		246		207,511
Weatherford International LLC
9.875%, 3/01/25 (e)		114		75,525
Weatherford International Ltd.
5.875%, 7/01/21 (n)		88		62,119
7.75%, 6/15/21 (f)		167		137,301
9.875%, 2/15/24 (f)		50		33,361
Whiting Petroleum Corp.
1.25%, 4/01/20 (n)		67		63,584
5.75%, 3/15/21		38		37,515
6.25%, 4/01/23 (f)		42		41,292
6.625%, 1/15/26		180		173,246
WPX Energy, Inc.
5.75%, 6/01/26		65		62,402
				9,083,074

	Principal Amount (000)		U.S. $ Value
Other Industrial - 0.1%
Algeco Global Finance PLC
8.00%, 2/15/23 (e)	$	200	$	196,964
American Builders & Contractors Supply Co., Inc.
5.75%, 12/15/23 (e)		178		177,642
American Tire Distributors, Inc.
10.25%, 3/01/22 (a)(d)(e)(j)		288		49,649
Global Partners LP/GLP Finance Corp.
6.25%, 7/15/22		205		201,872
7.00%, 6/15/23		28		27,919
H&E Equipment Services, Inc.
5.625%, 9/01/25		58		54,071
KAR Auction Services, Inc.
5.125%, 6/01/25 (e)		62		58,206
Laureate Education, Inc.
8.25%, 5/01/25 (e)		231		246,363
				1,012,686
Services - 0.3%
ADT Security Corp. (The)
3.50%, 7/15/22		57		53,055
Aptim Corp.
7.75%, 6/15/25 (e)(f)		122		95,328
APX Group, Inc.
7.875%, 12/01/22		300		293,454
8.75%, 12/01/20		81		77,243
Aramark Services, Inc.
5.00%, 2/01/28 (e)		98		93,587
5.125%, 1/15/24		16		16,382
Carlson Travel, Inc.
9.50%, 12/15/24 (e)		200		191,410
Carriage Services, Inc.
6.625%, 6/01/26 (e)		87		86,108
GEO Group, Inc. (The)
5.125%, 4/01/23		115		104,205
5.875%, 1/15/22-10/15/24		39		37,565
6.00%, 4/15/26		140		125,605
Monitronics International, Inc.
9.125%, 4/01/20		120		74,784
Nielsen Co. Luxembourg SARL (The)
5.50%, 10/01/21 (e)		68		68,283
Prime Security Services Borrower LLC/Prime Finance, Inc.
9.25%, 5/15/23 (e)		289		306,002
Refinitiv US Holdings, Inc.
6.25%, 5/15/26 (e)		41		40,524
8.25%, 11/15/26 (e)		37		35,187
Sabre GLBL, Inc.
5.25%, 11/15/23 (e)		135		134,326
Team Health Holdings, Inc.
6.375%, 2/01/25 (e)(f)		50		41,503
Verscend Escrow Corp.
9.75%, 8/15/26 (e)		119		114,434
				1,988,985

	Principal Amount (000)		U.S. $ Value
Technology - 0.2%
Banff Merger Sub, Inc.
9.75%, 9/01/26 (e)	$	329	$	310,819
CommScope, Inc.
5.00%, 6/15/21 (e)		50		49,624
Conduent Finance, Inc./Conduent Business Services LLC
10.50%, 12/15/24 (e)		1		998
Dell International LLC/EMC Corp.
5.875%, 6/15/21 (e)		78		79,024
Dell, Inc.
6.50%, 4/15/38		43		39,696
First Data Corp.
7.00%, 12/01/23 (e)		75		77,741
Goodman Networks, Inc.
8.00%, 5/11/22 (d)		48		24,335
Infor US, Inc.
6.50%, 5/15/22		140		139,848
Iron Mountain, Inc.
4.375%, 6/01/21 (e)		50		49,199
Nokia Oyj
6.625%, 5/15/39		34		35,060
Sanmina Corp.
4.375%, 6/01/19 (e)		89		88,640
Solera LLC/Solera Finance, Inc.
10.50%, 3/01/24 (e)		188		202,233
Western Digital Corp.
4.75%, 2/15/26		132		120,418
				1,217,635
Transportation - Services - 0.1%
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
5.50%, 4/01/23 (f)		362		356,341
Herc Rentals, Inc.
7.75%, 6/01/24 (e)(f)		158		166,772
Hertz Corp. (The)
7.375%, 1/15/21		260		257,213
Hertz Holdings Netherlands BV
5.50%, 3/30/23 (e)	EUR	160		180,308
United Rentals North America, Inc.
4.875%, 1/15/28	$	140		126,356
5.75%, 11/15/24		36		35,970
XPO Logistics, Inc.
6.125%, 9/01/23 (e)		30		29,995
				1,152,955
				39,136,219

	Principal Amount (000)			U.S. $ Value
Financial Institutions - 1.1%
Banking - 0.6%
Allied Irish Banks PLC
7.375%, 12/03/20 (e)(o)	EUR	200		$	237,750
Ally Financial, Inc.
4.125%, 3/30/20	$	295			294,458
8.00%, 11/01/31		116			134,979
Banco Bilbao Vizcaya Argentaria SA
6.75%, 2/18/20 (e)(o)	EUR	200			226,986
Banco de Sabadell SA
6.50%, 5/18/22 (e)(o)		200			208,023
Banco Santander SA
6.75%, 4/25/22 (e)(o)		300			349,934
Barclays Bank PLC
6.86%, 6/15/32 (e)(o)	$	35			37,330
Barclays PLC
7.25%, 3/15/23 (e)(o)	GBP	200			251,952
CIT Group, Inc.
6.125%, 3/09/28	$	75			76,950
Citigroup Capital XVIII
1.688% (Sterling LIBOR 3 Month + 0.89%), 6/28/67 (p)	GBP	185			211,913
Citigroup, Inc.
5.95%, 1/30/23 (o)	$	365			359,010
Citizens Financial Group, Inc.
Series B
6.00%, 7/06/23 (o)		116			112,970
Credit Suisse Group AG
7.125%, 7/29/22 (e)(o)		200			198,926
7.50%, 12/11/23 (e)(o)		200			203,468
Goldman Sachs Group, Inc. (The)
Series P
5.00%, 11/10/22 (o)		210			185,029
Lloyds Banking Group PLC
7.625%, 6/27/23 (e)(o)	GBP	260			340,635
Royal Bank of Scotland Group PLC
8.625%, 8/15/21 (o)	$	0	**		453
Societe Generale SA
8.00%, 9/29/25 (e)(o)		320			321,647
SunTrust Banks, Inc.
Series H
5.125%, 12/15/27 (o)		72			64,515
UBS Group Funding Switzerland AG
7.00%, 2/19/25 (e)(o)		400			410,468
UniCredit SpA
9.25%, 6/03/22 (e)(o)	EUR	200			237,175
					4,464,571
Brokerage - 0.0%
Lehman Brothers Holdings, Inc.
5.625%, 1/24/13 (a)(b)(d)(l)	$	1,030			20,798
LPL Holdings, Inc.
5.75%, 9/15/25 (e)		199			188,790
					209,588

	Principal Amount (000)		U.S. $ Value
Finance - 0.2%
Compass Group Diversified Holdings LLC
8.00%, 5/01/26 (e)	$	139	$	140,319
Curo Group Holdings Corp.
8.25%, 9/01/25 (e)		169		142,813
Enova International, Inc.
8.50%, 9/01/24-9/15/25 (e)		245		223,889
goeasy Ltd.
7.875%, 11/01/22 (e)		62		63,698
Navient Corp.
5.00%, 10/26/20		115		114,046
5.50%, 1/25/23		194		182,950
5.875%, 3/25/21		1		1,407
6.50%, 6/15/22		79		78,845
7.25%, 1/25/22-9/25/23		85		86,044
8.00%, 3/25/20		237		245,102
SLM Corp.
5.125%, 4/05/22		30		30,118
TMX Finance LLC/TitleMax Finance Corp.
11.125%, 4/01/23 (e)		112		103,040
				1,412,271
Insurance - 0.1%
Ambac Assurance Corp.
5.10%, 6/07/20 (d)(e)		5		6,597
Liberty Mutual Group, Inc.
7.80%, 3/15/37 (e)		298		333,257
Polaris Intermediate Corp.
8.50%, 12/01/22 (e)(k)		266		265,108
WellCare Health Plans, Inc.
5.375%, 8/15/26 (e)		78		77,506
				682,468
Other Finance - 0.1%
Intrum AB
2.75%, 7/15/22 (e)	EUR	130		136,947
3.125%, 7/15/24 (e)		100		101,889
LHC3 PLC
4.125%, 8/15/24 (e)(k)		146		159,743
NVA Holdings, Inc./United States
6.875%, 4/01/26 (e)	$	101		96,372
Tempo Acquisition LLC/Tempo Acquisition Finance Corp.
6.75%, 6/01/25 (e)		217		205,095
Travelport Corporate Finance PLC
6.00%, 3/15/26 (e)		75		74,021
				774,067

	Principal Amount (000)		U.S. $ Value
REITS - 0.1%
Iron Mountain, Inc.
5.25%, 3/15/28 (e)	$	205	$	185,318
MPT Operating Partnership LP/MPT Finance Corp.
5.00%, 10/15/27		30		28,545
5.25%, 8/01/26		96		94,322
5.50%, 5/01/24		5		4,999
				313,184
				7,856,149
Utility - 0.2%
Electric - 0.2%
AES Corp./VA
4.875%, 5/15/23		75		74,512
Calpine Corp.
5.375%, 1/15/23		231		218,736
5.50%, 2/01/24		36		32,813
5.75%, 1/15/25		148		135,499
NRG Energy, Inc.
5.75%, 1/15/28		100		97,966
Talen Energy Supply LLC
4.60%, 12/15/21		168		152,501
6.50%, 6/01/25		163		118,399
10.50%, 1/15/26 (e)		133		115,227
Texas Competitive/TCEH
11.50%, 10/01/20 (a)(c)(d)(m)		142		0
Vistra Energy Corp.
5.875%, 6/01/23		18		18,620
7.375%, 11/01/22		150		156,036
7.625%, 11/01/24		16		17,321
				1,137,630
Natural Gas - 0.0%
NGL Energy Partners LP/NGL Energy Finance Corp.
7.50%, 11/01/23		282		275,026
				1,412,656
Total Corporates - Non-Investment Grade (cost $52,155,916)				48,405,024
INFLATION-LINKED SECURITIES - 1.8%
Japan - 1.8%
Japanese Government CPI Linked Bond
Series 22
0.10%, 3/10/27 (cost $13,226,846)	JPY	1,379,383		12,658,144

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - TREASURIES - 1.7%
Malaysia - 0.0%
Malaysia Government Bond
Series 3/04
5.734%, 7/30/19	MYR	1,169	$	283,497
Mexico - 0.1%
Mexican Bonos
Series M 20
7.50%, 6/03/27	MXN	19,911		887,142
Russia - 0.1%
Russian Federal Bond - OFZ
Series 6217
7.50%, 8/18/21	RUB	40,638		599,016
United States - 1.5%
U.S. Treasury Notes
1.625%, 5/15/26 (q)	$	1,714		1,562,954
1.75%, 9/30/22 (q)		1,551		1,489,202
2.25%, 2/15/27-8/15/27 (q)		7,800		7,371,516
				10,423,672
Uruguay - 0.0%
Uruguay Government International Bond
8.50%, 3/15/28 (e)	UYU	3,101		81,902
9.875%, 6/20/22 (e)		2,522		76,986
				158,888
Total Governments - Treasuries (cost $12,991,292)				12,352,215
CORPORATES - INVESTMENT GRADE - 1.3%
Financial Institutions - 0.7%
Banking - 0.4%
Axis Bank Ltd./Dubai
3.25%, 5/21/20 (e)	$	200		197,102
Bank of America Corp.
Series AA
6.10%, 3/17/25 (f)(o)		243		247,214
Series B
8.05%, 6/15/27		113		138,020
Series DD
6.30%, 3/10/26 (o)		114		118,981
Series Z
6.50%, 10/23/24 (o)		7		7,331
BNP Paribas SA
7.625%, 3/30/21 (e)(o)		142		145,522
BPCE SA
5.70%, 10/22/23 (e)		200		205,761
Credit Agricole SA
8.125%, 12/23/25 (e)(o)		400		415,528
Credit Suisse Group Funding Guernsey Ltd.
3.80%, 6/09/23		222		216,315

	Principal Amount (000)		U.S. $ Value
Deutsche Bank AG/New York NY
3.375%, 5/12/21	$	121	$	116,485
DNB Bank ASA
6.50%, 3/26/22 (e)(o)		201		199,046
HSBC Holdings PLC
6.00%, 9/29/23 (e)(o)	EUR	220		265,874
Morgan Stanley
5.00%, 11/24/25	$	211		213,475
Royal Bank of Scotland Group PLC
6.125%, 12/15/22		315		319,690
Santander Holdings USA, Inc.
4.40%, 7/13/27		141		131,136
Standard Chartered PLC
3.95%, 1/11/23 (e)		142		137,469
US Bancorp
Series J
5.30%, 4/15/27 (o)		43		41,067
Wells Fargo & Co.
4.125%, 8/15/23		212		211,182
				3,327,198
Insurance - 0.3%
Allstate Corp. (The)
6.50%, 5/15/57		191		200,658
American International Group, Inc.
8.175%, 5/15/58		110		131,862
Series A-9
5.75%, 4/01/48		77		70,871
Assicurazioni Generali SpA
5.50%, 10/27/47 (e)	EUR	185		210,486
Aviva PLC
3.875%, 7/03/44 (e)		200		227,890
Caisse Nationale de Reassurance Mutuelle Agricole Groupama
6.00%, 1/23/27		200		254,754
CNP Assurances
4.50%, 6/10/47 (e)		200		236,043
MetLife, Inc.
6.40%, 12/15/36	$	275		278,745
Nationwide Mutual Insurance Co.
9.375%, 8/15/39 (e)		75		110,317
Prudential Financial, Inc.
5.625%, 6/15/43		170		171,312
SCOR SE
3.00%, 6/08/46 (e)	EUR	100		112,281
				2,005,219
REITS - 0.0%
GLP Capital LP/GLP Financing II, Inc.
4.375%, 4/15/21	$	14		14,164
4.875%, 11/01/20		18		18,559
5.375%, 11/01/23		18		17,971
HCP, Inc.
4.25%, 11/15/23		118		117,439

	Principal Amount (000)		U.S. $ Value
Senior Housing Properties Trust
6.75%, 12/15/21	$	21	$	22,543
Spirit Realty LP
4.45%, 9/15/26		13		12,415
				203,091
				5,535,508
Industrial - 0.5%
Basic - 0.1%
ArcelorMittal
6.75%, 3/01/41		54		56,704
7.00%, 10/15/39		85		89,843
Equate Petrochemical BV
3.00%, 3/03/22 (e)		255		244,609
Fresnillo PLC
5.50%, 11/13/23 (e)		200		200,500
Glencore Finance Canada Ltd.
6.00%, 11/15/41 (e)		11		11,186
Glencore Funding LLC
4.00%, 4/16/25 (e)		12		11,422
				614,264
Capital Goods - 0.0%
CNH Industrial Capital LLC
3.375%, 7/15/19		62		62,128
4.375%, 4/05/22 (f)		93		93,286
General Electric Co.
Series D
5.00%, 1/21/21 (o)		122		96,761
Masco Corp.
5.95%, 3/15/22		33		34,391
7.125%, 3/15/20		3		3,394
				289,960
Communications - Telecommunications - 0.0%
CB T-Mobile USA, Inc.
Zero Coupon, 1/15/26 (a)(d)		17		0
6.50%, 1/15/24 (a)(d)		133		0
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
4.738%, 3/20/25 (e)		330		328,201
				328,201
Consumer Cyclical - Automotive - 0.1%
General Motors Co.
5.20%, 4/01/45		140		117,398
5.40%, 4/01/48 (f)		151		129,129
6.25%, 10/02/43		185		170,970
General Motors Financial Co., Inc.
3.10%, 1/15/19		62		61,997
				479,494

	Principal Amount (000)		U.S. $ Value
Consumer Cyclical - Other - 0.0%
DR Horton, Inc.
4.00%, 2/15/20	$	108	$	107,814
Consumer Non-Cyclical - 0.1%
Anheuser-Busch InBev Finance, Inc.
2.65%, 2/01/21		91		89,581
Constellation Brands, Inc.
3.75%, 5/01/21		49		49,031
CVS Health Corp.
4.78%, 3/25/38		265		253,019
Universal Health Services, Inc.
4.75%, 8/01/22 (e)		151		152,290
				543,921
Energy - 0.1%
Cenovus Energy, Inc.
4.45%, 9/15/42		75		55,523
6.75%, 11/15/39		4		3,424
Ecopetrol SA
5.375%, 6/26/26		90		89,235
5.875%, 5/28/45		37		33,734
Energy Transfer Operating LP
6.125%, 12/15/45		135		128,621
Energy Transfer Partners LP/Regency Energy Finance Corp.
4.50%, 11/01/23		95		94,023
Kinder Morgan, Inc./DE
4.30%, 6/01/25		140		136,781
Series G
7.75%, 1/15/32		28		32,836
Shell International Finance BV
2.25%, 11/10/20		275		269,841
				844,018
Technology - 0.1%
Dell International LLC/EMC Corp.
5.45%, 6/15/23 (e)		47		48,008
6.02%, 6/15/26 (e)		20		20,250
Seagate HDD Cayman
4.75%, 1/01/25		68		62,608
4.875%, 6/01/27		252		223,405
				354,271
				3,561,943
Utility - 0.1%
Electric - 0.1%
DPL, Inc.
6.75%, 10/01/19		31		31,602
Duke Energy Corp.
3.95%, 10/15/23		209		209,374
Israel Electric Corp., Ltd.
Series 6
5.00%, 11/12/24 (e)		200		201,500
				442,476
Total Corporates - Investment Grade (cost $10,311,140)				9,539,927

	Principal Amount (000)		U.S. $ Value
COLLATERALIZED MORTGAGE OBLIGATIONS - 1.1%
Risk Share Floating Rate - 1.1%
Bellemeade Re Ltd.
Series 2018-2A, Class M1B
3.665% (LIBOR 1 Month + 1.35%), 8/25/28 (e)(p)	$	254	$	254,938
Series 2018-3A, Class M2
5.065% (LIBOR 1 Month + 2.75%), 10/25/27 (e)(p)		150		150,370
Eagle RE Ltd.
Series 2018-1, Class M2
5.28% (LIBOR 1 Month + 3.00%), 11/25/28 (d)(e)(p)		150		150,000
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2013-DN1, Class M2
9.465% (LIBOR 1 Month + 7.15%), 7/25/23 (p)		35		41,346
Series 2013-DN2, Class M2
6.565% (LIBOR 1 Month + 4.25%), 11/25/23 (p)		116		127,138
Series 2014-DN1, Class M3
6.815% (LIBOR 1 Month + 4.50%), 2/25/24 (p)		89		101,114
Series 2014-HQ2, Class M3
6.065% (LIBOR 1 Month + 3.75%), 9/25/24 (p)		131		146,397
Series 2014-HQ3, Class M3
7.065% (LIBOR 1 Month + 4.75%), 10/25/24 (p)		384		420,216
Series 2017-HQA1, Class M2
5.865% (LIBOR 1 Month + 3.55%), 8/25/29 (p)		450		484,272
Federal National Mortgage Association Connecticut Avenue Securities
Series 2013-C01, Class M2
7.565% (LIBOR 1 Month + 5.25%), 10/25/23 (p)		35		40,338
Series 2014-C01, Class M2
6.715% (LIBOR 1 Month + 4.40%), 1/25/24 (p)		66		73,512
Series 2014-C02, Class 1M2
4.915% (LIBOR 1 Month + 2.60%), 5/25/24 (p)		228		240,072
Series 2014-C03, Class 1M2
5.315% (LIBOR 1 Month + 3.00%), 7/25/24 (p)		205		216,926
Series 2014-C04, Class 1M2
7.215% (LIBOR 1 Month + 4.90%), 11/25/24 (p)		213		239,640

	Principal Amount (000)		U.S. $ Value
Series 2014-C04, Class 2M2
7.315% (LIBOR 1 Month + 5.00%), 11/25/24 (p)	$	413	$	460,656
Series 2015-C01, Class 1M2
6.615% (LIBOR 1 Month + 4.30%), 2/25/25 (p)		246		269,295
Series 2015-C01, Class 2M2
6.865% (LIBOR 1 Month + 4.55%), 2/25/25 (p)		132		141,820
Series 2015-C02, Class 1M2
6.315% (LIBOR 1 Month + 4.00%), 5/25/25 (p)		243		262,421
Series 2015-C02, Class 2M2
6.315% (LIBOR 1 Month + 4.00%), 5/25/25 (p)		222		236,272
Series 2015-C03, Class 1M2
7.315% (LIBOR 1 Month + 5.00%), 7/25/25 (p)		13		14,355
Series 2015-C03, Class 2M2
7.315% (LIBOR 1 Month + 5.00%), 7/25/25 (p)		308		339,719
Series 2015-C04, Class 2M2
7.865% (LIBOR 1 Month + 5.55%), 4/25/28 (p)		326		365,015
Series 2016-C01, Class 2M2
9.265% (LIBOR 1 Month + 6.95%), 8/25/28 (p)		215		250,222
Series 2016-C03, Class 2M2
8.215% (LIBOR 1 Month + 5.90%), 10/25/28 (p)		440		499,879
Series 2016-C05, Class 2M2
6.765% (LIBOR 1 Month + 4.45%), 1/25/29 (p)		465		509,493
Series 2016-C07, Class 2M2
5.374% (LIBOR 1 Month + 4.35%), 5/25/29 (p)		475		520,208
Series 2017-C01, Class 1B1
8.065% (LIBOR 1 Month + 5.75%), 7/25/29 (p)		440		514,599
Series 2018-C01, Class 1B1
5.865% (LIBOR 1 Month + 3.55%), 7/25/30 (p)		107		104,725
Series 2018-R07, Class 1B1
6.665% (LIBOR 1 Month + 4.35%), 4/25/31 (e)(p)		51		50,870
Home Re Ltd.
Series 2018-1, Class M2
5.315% (LIBOR 1 Month + 3.00%), 10/25/28 (e)(p)		235		235,970
				7,461,798

	Principal Amount (000)		U.S. $ Value
Agency Fixed Rate - 0.0%
Federal National Mortgage Association Grantor Trust
Series 2004-T5, Class AB4
3.01%, 5/28/35 (d)	$	96	$	89,212
Non-Agency Fixed Rate - 0.0%
Alternative Loan Trust
Series 2006-28CB, Class A14
6.25%, 10/25/36		13		10,867
CSMC Mortgage-Backed Trust
Series 2006-7, Class 3A12
6.25%, 8/25/36		17		13,702
				24,569
Total Collateralized Mortgage Obligations (cost $7,511,765)				7,575,579
EMERGING MARKETS - SOVEREIGNS - 1.0%
Angola - 0.1%
Angolan Government International Bond
9.50%, 11/12/25 (e)		386		406,265
Argentina - 0.0%
Argentine Republic Government International Bond
6.875%, 1/26/27		363		292,215
Bahrain - 0.1%
Bahrain Government International Bond
6.75%, 9/20/29 (e)		200		192,000
7.00%, 10/12/28 (e)		200		196,000
				388,000
Brazil - 0.1%
Brazilian Government International Bond
4.625%, 1/13/28		435		410,938
Cameroon - 0.0%
Republic of Cameroon International Bond
9.50%, 11/19/25 (e)		200		202,250
Costa Rica - 0.0%
Costa Rica Government International Bond
4.37%, 5/22/19 (e)		107		105,126
Dominican Republic - 0.1%
Dominican Republic International Bond
5.95%, 1/25/27 (e)		220		215,875
8.625%, 4/20/27 (e)		425		479,719
				695,594
Ecuador - 0.0%
Ecuador Government International Bond
10.50%, 3/24/20 (e)		205		210,996

	Principal Amount (000)		U.S. $ Value
Egypt - 0.1%
Egypt Government International Bond
6.125%, 1/31/22 (e)	$	407	$	398,860
El Salvador - 0.0%
El Salvador Government International Bond
7.375%, 12/01/19 (e)		200		200,893
Gabon - 0.0%
Gabon Government International Bond
6.375%, 12/12/24 (e)		360		315,450
Honduras - 0.1%
Honduras Government International Bond
6.25%, 1/19/27 (e)		180		174,825
7.50%, 3/15/24 (e)		200		209,000
				383,825
Ivory Coast - 0.1%
Ivory Coast Government International Bond
6.375%, 3/03/28 (e)		635		569,912
Jamaica - 0.0%
Jamaica Government International Bond
7.875%, 7/28/45		200		226,000
Lebanon - 0.0%
Lebanon Government International Bond
6.65%, 4/22/24 (e)		45		36,506
Series G
6.20%, 2/26/25 (e)		53		40,943
6.60%, 11/27/26 (e)		89		67,417
				144,866
Mongolia - 0.1%
Mongolia Government International Bond
5.125%, 12/05/22 (e)		270		250,425
10.875%, 4/06/21 (e)		200		218,500
				468,925
Nigeria - 0.1%
Nigeria Government International Bond
6.50%, 11/28/27 (e)		200		173,500
6.75%, 1/28/21 (e)		200		202,250
				375,750
Senegal - 0.0%
Senegal Government International Bond
6.25%, 5/23/33 (e)		365		307,513

	Principal Amount (000)		U.S. $ Value
Sri Lanka - 0.0%
Sri Lanka Government International Bond
6.20%, 5/11/27 (e)	$	220	$	186,450
Ukraine - 0.1%
Ukraine Government International Bond
7.75%, 9/01/23-9/01/24 (e)		765		688,931
Venezuela - 0.0%
Venezuela Government International Bond
9.25%, 9/15/27 (a)(j)		815		187,450
Total Emerging Markets - Sovereigns (cost $7,973,646)				7,166,209
EMERGING MARKETS - CORPORATE BONDS - 0.9%
Industrial - 0.7%
Basic - 0.1%
Consolidated Energy Finance SA
6.875%, 6/15/25 (e)		200		198,188
First Quantum Minerals Ltd.
7.00%, 2/15/21 (e)		33		32,066
7.25%, 5/15/22-4/01/23 (e)		542		507,256
Vedanta Resources PLC
6.375%, 7/30/22 (e)		220		201,575
				939,085
Capital Goods - 0.0%
CIMPOR Financial Operations BV
5.75%, 7/17/24 (e)		200		164,250
Odebrecht Finance Ltd.
5.25%, 6/27/29 (a)(e)(j)		200		28,250
				192,500
Communications - Telecommunications - 0.1%
Digicel Group Ltd.
8.25%, 9/30/20 (e)		315		210,262
Millicom International Cellular SA
5.125%, 1/15/28 (e)		200		176,500
MTN Mauritius Investments Ltd.
6.50%, 10/13/26 (e)(f)		200		193,000
				579,762
Consumer Cyclical - Other - 0.1%
Wynn Macau Ltd.
4.875%, 10/01/24 (e)		214		190,727
5.50%, 10/01/27 (e)		214		189,925
				380,652
Consumer Cyclical - Retailers - 0.0%
K2016470219 South Africa Ltd.
3.00%, 12/31/22 (d)(k)(m)		36		806
K2016470260 South Africa Ltd.
25.00%, 12/31/22 (d)(k)(m)		11		3,303
				4,109

	Principal Amount (000)		U.S. $ Value
Consumer Non-Cyclical - 0.3%
BRF GmbH
4.35%, 9/29/26 (e)	$	480	$	408,300
Cosan Ltd.
5.95%, 9/20/24 (e)		360		346,500
MARB BondCo PLC
6.875%, 1/19/25 (e)		200		184,000
Minerva Luxembourg SA
6.50%, 9/20/26 (e)		220		201,300
Natura Cosmeticos SA
5.375%, 2/01/23 (e)		200		195,250
Rede D’or Finance SARL
4.95%, 1/17/28 (e)(f)		200		174,500
Teva Pharmaceutical Finance Netherlands III BV
1.70%, 7/19/19		94		91,778
2.80%, 7/21/23		152		133,406
3.15%, 10/01/26		55		44,741
Tonon Luxembourg SA
7.25%, 1/24/20 (a)(d)(j)(k)(m)		14		326
Virgolino de Oliveira Finance SA
10.50%, 1/28/18 (a)(d)(l)(m)		434		26,746
				1,806,847
Energy - 0.1%
Azure Power Energy Ltd.
5.50%, 11/03/22 (e)		200		185,000
CHC Group LLC/CHC Finance Ltd.
Series AI
Zero Coupon, 10/01/20 (g)		158		150,552
Petrobras Global Finance BV
6.125%, 1/17/22		3		3,419
6.25%, 3/17/24		210		212,363
8.75%, 5/23/26		208		233,584
YPF SA
16.50%, 5/09/22 (e)	ARS	2,493		41,769
				826,687
Transportation - Airlines - 0.0%
Guanay Finance Ltd.
6.00%, 12/15/20 (e)	$	11		11,307
Latam Finance Ltd.
6.875%, 4/11/24 (e)		285		281,438
				292,745
Transportation - Services - 0.0%
Rumo Luxembourg SARL
7.375%, 2/09/24 (e)		200		205,950
				5,228,337

	Principal Amount (000)		U.S. $ Value
Financial Institutions - 0.1%
Banking - 0.1%
Akbank TAS
5.00%, 10/24/22 (e)	$	150	$	135,938
Fidelity Bank PLC
10.50%, 10/16/22 (e)		200		200,250
Itau Unibanco Holding SA/Cayman Island
6.125%, 12/12/22 (e)(o)		200		187,100
Turkiye Garanti Bankasi AS
5.875%, 3/16/23 (e)		200		183,250
Turkiye Vakiflar Bankasi TAO
5.75%, 1/30/23 (e)		200		169,750
				876,288
Finance - 0.0%
Unifin Financiera SAB de CV SOFOM ENR
7.00%, 1/15/25 (e)		200		171,000
Insurance - 0.0%
Ambac LSNI LLC
7.396% (LIBOR 3 Month + 5.00%), 2/12/23 (d)(e)(p)		22		21,677
				1,068,965
Utility - 0.1%
Electric - 0.1%
Genneia SA
8.75%, 1/20/22 (e)		90		84,375
Light Servicos de Eletricidade SA/Light Energia SA
7.25%, 5/03/23 (e)		243		230,425
Terraform Global Operating LLC
6.125%, 3/01/26 (e)		37		34,717
				349,517
Total Emerging Markets - Corporate Bonds (cost $7,378,044)				6,646,819
EMERGING MARKETS - TREASURIES - 0.7%
Argentina - 0.2%
Argentina POM Politica Monetaria
Series POM
65.51% (ARLLMONP), 6/21/20 (p)	ARS	18,782		512,045
Argentine Bonos del Tesoro
15.50%, 10/17/26		2,786		56,622
16.00%, 10/17/23		7,637		166,804
18.20%, 10/03/21		14,384		298,933
				1,034,404

	Principal Amount (000)		U.S. $ Value
Brazil - 0.3%
Brazil Notas do Tesouro Nacional
Series F
10.00%, 1/01/21	BRL	8,037	$	2,155,900
Dominican Republic - 0.1%
Dominican Republic International Bond
16.00%, 7/10/20 (m)	DOP	25,000		542,345
South Africa - 0.0%
Republic of South Africa Government Bond
Series R186
10.50%, 12/21/26	ZAR	3,037		238,376
Turkey - 0.1%
Turkey Government Bond
11.10%, 5/15/19	TRY	4,030		742,508
Total Emerging Markets - Treasuries (cost $6,354,181)				4,713,533
BANK LOANS - 0.5%
Industrial - 0.5%
Basic - 0.0%
Foresight Energy LLC
8.277% (LIBOR 3 Month + 5.75%), 3/28/22 (r)	$	29		29,000
Specialty Building Products Holdings, LLC
10/01/25 (s)		140		138,784
Unifrax I LLC
5.886% (LIBOR 3 Month + 3.50%), 4/04/24 (r)		27		26,965
				194,749
Capital Goods - 0.0%
Brookfield WEC Holdings Inc. (fka Westinghouse Electric Company LLC)
6.09% (LIBOR 1 Month + 3.75%), 8/01/25 (r)		106		105,386
9.09% (LIBOR 1 Month + 6.75%), 8/03/26 (r)		37		37,375
Gardner Denver, Inc.
5.095% (LIBOR 1 Month + 2.75%), 7/30/24 (r)		37		36,486
				179,247
Communications - Telecommunications - 0.0%
Intelsat Jackson Holdings S.A.
6.63%, 1/02/24		15		14,697
6.82% (LIBOR 1 Month + 4.50%), 1/02/24 (r)		9		8,903
West Corporation
6.34% (LIBOR 1 Month + 4.00%), 10/10/24 (d)(r)		0		360
6.53% (LIBOR 3 Month + 4.00%), 10/10/24 (d)(r)		148		142,400
				166,360

	Principal Amount (000)		U.S. $ Value
Consumer Cyclical - Automotive - 0.0%
Navistar, Inc.
5.82% (LIBOR 1 Month + 3.50%), 11/06/24 (r)	$	46	$	45,893
Consumer Cyclical - Entertainment - 0.0%
Seaworld Parks & Entertainment, Inc. (fka SW Acquisitions Co., Inc.)
5.345% (LIBOR 1 Month + 3.00%), 4/01/24 (r)		60		59,300
Consumer Cyclical - Other - 0.0%
Caesars Resort Collection, LLC (fka Caesars Growth Properties Holdings, LLC)
5.095% (LIBOR 1 Month + 2.75%), 12/23/24 (r)		186		182,793
Stars Group Holdings B.V.
5.886% (LIBOR 3 Month + 3.50%), 7/10/25 (r)		37		37,232
				220,025
Consumer Cyclical - Retailers - 0.0%
Serta Simmons Bedding, LLC
10.318% (LIBOR 1 Month + 8.00%), 11/08/24 (r)		118		88,131
Consumer Non-Cyclical - 0.2%
Air Medical Group Holdings, Inc.
5.568% (LIBOR 1 Month + 3.25%), 4/28/22 (r)		299		285,144
Alphabet Holding Company, Inc. (fka Nature’s Bounty)
10.095% (LIBOR 1 Month + 7.75%), 9/26/25 (r)		263		232,635
BI-LO, LLC
10.34% (LIBOR 3 Month + 8.00%), 5/31/24 (r)		162		158,427
10.44% (LIBOR 3 Month + 8.00%), 5/31/24 (r)		168		164,800
10.62% (LIBOR 3 Month + 8.00%), 5/31/24 (r)		168		164,800
Owens & Minor, Inc.
6.799% (LIBOR 1 Month + 4.50%), 4/30/25 (r)		139		112,916
Regionalcare Hospital Partners Holdings, Inc.
11/16/25 (s)		126		123,756
Vizient, Inc.
5.095% (LIBOR 1 Month + 2.75%), 2/13/23 (r)		2		1,570
				1,244,048

	Principal Amount (000)		U.S. $ Value
Energy - 0.1%
California Resources Corporation
12.724% (LIBOR 1 Month + 10.37%), 12/31/21 (r)	$	113	$	119,788
Triton Solar US Acquisition Co.
10/31/24 (s)		274		256,560
				376,348
Other Industrial - 0.0%
American Tire Distributors, Inc.
6.636% (LIBOR 1 Month + 0.00%), 9/01/21 (r)		73		62,243
Travelport Finance (Luxembourg) S.àr.l.
5.116% (LIBOR 3 Month + 2.50%), 3/17/25 (r)		56		54,410
				116,653
Services - 0.1%
Financial & Risk US Holdings, Inc. (fka Refinitiv)
6.095% (LIBOR 1 Month + 3.75%), 10/01/25 (r)		45		43,787
Monitronics International, Inc.
7.886% (LIBOR 3 Month + 5.50%), 9/30/22 (r)		126		118,854
Verscend Holding Corp.
6.845% (LIBOR 1 Month + 4.50%), 8/27/25 (r)		91		90,738
				253,379
Technology - 0.1%
Boxer Parent Company Inc.
6.648% (LIBOR 3 Month + 4.25%), 10/02/25 (r)		100		98,625
MTS Systems Corporation
5.56% (LIBOR 1 Month + 3.25%), 7/05/23 (d)(r)		56		55,569
Solera, LLC (Solera Finance, Inc.)
5.095% (LIBOR 1 Month + 2.75%), 3/03/23 (r)		144		142,365
Veritas US Inc.
6.84% (LIBOR 1 Month + 4.50%), 1/27/23 (r)(s)		75		66,808
6.89% (LIBOR 3 Month + 4.50%), 1/27/23 (r)(s)		25		22,138
				385,505
Total Bank Loans (cost $3,425,088)				3,329,638

	Notional Amount		U.S. $ Value
OPTIONS PURCHASED - CALLS - 0.2%
Options on Forward Contracts - 0.1%
BRL/USD
Expiration: Feb 2019; Contracts: 13,462,500;
Exercise Price: BRL 3.75;
Counterparty: Morgan Stanley Capital Services LLC (a)	BRL	13,462,500	$	46,543
GBP/USD
Expiration: Jan 2019; Contracts: 900,000;
Exercise Price: GBP 0.75;
Counterparty: Citibank, NA (a)	GBP	900,000		5,536
GBP/USD
Expiration: Jan 2019; Contracts: 910,000;
Exercise Price: GBP 0.75;
Counterparty: Natwest Markets PLC (a)	GBP	910,000		5,597
GBP/USD
Expiration: Jan 2019; Contracts: 5,735,000;
Exercise Price: GBP 0.76;
Counterparty: Citibank, NA (a)	GBP	5,735,000		40,880
GBP/USD
Expiration: Dec 2018; Contracts: 5,606,000;
Exercise Price: GBP 0.76;
Counterparty: Morgan Stanley Capital Services LLC (a)	GBP	5,606,000		22,245
TRY/EUR
Expiration: Jan 2019; Contracts: 16,867,410;
Exercise Price: TRY 6.51;
Counterparty: JPMorgan Chase Bank, NA (a)	TRY	16,867,410		228,276
TRY/EUR
Expiration: Jan 2019; Contracts: 6,640,200;
Exercise Price: TRY 6.51;
Counterparty: Deutsche Bank AG (a)	TRY	6,640,200		89,865
TRY/USD
Expiration: Jan 2019; Contracts: 6,791,500;
Exercise Price: TRY 5.78;
Counterparty: Barclays Bank PLC (a)	TRY	6,791,500		103,545
TRY/USD
Expiration: Jan 2019; Contracts: 17,051,000;
Exercise Price: TRY 5.78;
Counterparty: Barclays Bank PLC (a)	TRY	17,051,000		259,964
				802,451
Options on Indices - 0.1%
S&P 500 Index
Expiration: Jan 2019; Contracts: 13,000;
Exercise Price: USD 2,800.00;
Counterparty: Credit Suisse International (a)	USD	13,000		594,625
Swaptions - 0.0%
CDX-NAHY Series 31, 5 Year Index
Expiration: Jan 2019; Contracts: 1,170,000;
Exercise Rate: 1.06%;
Counterparty: Credit Suisse International (a)	USD	1,170,000		2,370
Total Options Purchased-Calls (premiums paid $864,988)				1,399,446

	Principal Amount (000)		U.S. $ Value
ASSET-BACKED SECURITIES - 0.1%
Other ABS - Fixed Rate - 0.1%
Marlette Funding Trust
Series 2018-3A, Class C
4.63%, 9/15/28 (d)(e)	$	125	$	124,924
SoFi Consumer Loan Program LLC
Series 2017-6, Class C
4.02%, 11/25/26 (d)(e)		360		353,797
Taco Bell Funding LLC
Series 2016-1A, Class A23
4.97%, 5/25/46 (d)(e)		38		39,243
				517,964
Home Equity Loans - Fixed Rate - 0.0%
CWABS Asset-Backed Certificates Trust
Series 2005-7, Class AF5W
5.054%, 10/25/35 (d)		140		138,826
GSAA Home Equity Trust
Series 2006-6, Class AF5
6.241%, 3/25/36 (d)		181		85,118
Lehman XS Trust
Series 2007-6, Class 3A5
4.746%, 5/25/37 (d)		53		51,371
				275,315
Autos - Fixed Rate - 0.0%
CPS Auto Trust
Series 2018-C, Class D
4.40%, 6/17/24 (e)		120		120,945
Home Equity Loans - Floating Rate - 0.0%
ABFC Trust
Series 2003-WF1, Class A2
3.44% (LIBOR 1 Month + 1.13%), 12/25/32 (d)(p)		37		37,329
Total Asset-Backed Securities (cost $955,103)				951,553
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.1%
Non-Agency Fixed Rate CMBS - 0.1%
Citigroup Commercial Mortgage Trust
Series 2014-GC23, Class D
4.655%, 7/10/47 (d)(e)		35		31,304
GS Mortgage Securities Trust
Series 2014-GC18, Class D
5.163%, 1/10/47 (d)(e)		71		60,902
JP Morgan Chase Commercial Mortgage Securities Trust
Series 2012-CBX, Class E
5.191%, 6/15/45 (d)(e)		298		271,769

	Principal Amount (000)		U.S. $ Value
JPMBB Commercial Mortgage Securities Trust
Series 2013-C17, Class D
5.05%, 1/15/47 (d)(e)	$	71	$	69,052
Morgan Stanley Capital I Trust
Series 2005-IQ9, Class D
5.00%, 7/15/56 (b)(d)		105		97,502
				530,529
Non-Agency Floating Rate CMBS - 0.0%
BBCMS Mortgage Trust
Series 2017-GLKS, Class F
6.007% (LIBOR 1 Month + 3.70%), 11/15/34 (d)(e)(p)		105		106,446
CLNS Trust
Series 2017-IKPR, Class F
6.818% (LIBOR 1 Month + 4.50%), 6/11/32 (d)(e)(p)		110		110,068
				216,514
Total Commercial Mortgage-Backed Securities (cost $772,249)				747,043
COLLATERALIZED LOAN OBLIGATIONS - 0.1%
CLO - Floating Rate - 0.1%
Dryden Senior Loan Fund
Series 2017-49A, Class E
8.749% (LIBOR 3 Month + 6.30%), 7/18/30 (d)(e)(p)		250		241,730
Rockford Tower CLO Ltd.
Series 2017-2A, Class D
5.886% (LIBOR 3 Month + 3.45%), 10/15/29 (d)(e)(p)		306		306,810
Total Collateralized Loan Obligations (cost $560,920)				548,540
	Notional Amount
OPTIONS PURCHASED - PUTS - 0.0%
Options on Forward Contracts - 0.0%
CNH/USD
Expiration: Jan 2019; Contracts: 110,136,000;
Exercise Price: CNH 7.06;
Counterparty: JPMorgan Chase Bank, NA (a)	CNH	110,136,000		62,752
CNH/USD
Expiration: Jan 2019; Contracts: 34,819,750;
Exercise Price: CNH 7.07;
Counterparty: JPMorgan Chase Bank, NA (a)	CNH	34,819,750		18,356
CNH/USD
Expiration: Jan 2019; Contracts: 100,735,245;
Exercise Price: CNH 7.04;
Counterparty: Citibank, NA (a)	CNH	100,735,245		87,731

	Notional Amount		U.S. $ Value
AUD/USD
Expiration: Jun 2019; Contracts: 13,200,000;
Exercise Price: AUD 1.45;
Counterparty: Morgan Stanley Capital Services LLC (a)	AUD	13,200,000	$	89,918
				258,757
Swaptions - 0.0%
IRS Swaption
Expiration: Jan 2019; Contracts: 2,022,000;
Exercise Rate: 3.29%;
Counterparty: Morgan Stanley Capital Services LLC (a)	USD	2,022,000		3,499
Total Options Purchased-Puts (premiums paid $333,451)				262,256
	Principal Amount (000)
LOCAL GOVERNMENTS - REGIONAL BONDS - 0.0%
Argentina - 0.0%
Provincia de Buenos Aires/Argentina
7.875%, 6/15/27 (e) (cost $255,840)	$	341		260,952
LOCAL GOVERNMENTS - US MUNICIPAL BONDS - 0.0%
United States - 0.0%
State of California
Series 2010
7.60%, 11/01/40		60		86,425
7.95%, 3/01/36		130		137,414
Total Local Governments-US Municipal Bonds (cost $227,838)				223,839
	Shares
PREFERRED STOCKS - 0.0%
Utility - 0.0%
Electric - 0.0%
SCE Trust III
Series H
5.75%		1,027		22,604
Financial Institutions - 0.0%
Banking - 0.0%
GMAC Capital Trust I
Series 2
8.401%		868		22,134
Industrial - 0.0%
Consumer Cyclical - Other - 0.0%
Hovnanian Enterprises, Inc.
7.625% (a)		1,190		5,355

	Shares			U.S. $ Value
Energy - 0.0%
Sanchez Energy Corp.
Series A
4.875%		2,338		$	7,833
Technology - 0.0%
Goodman Networks, Inc.
0.00% (a)(b)(c)(d)		3,576			0
					13,188
Total Preferred Stocks (cost $126,090)					57,926
	Principal Amount (000)
QUASI-SOVEREIGNS - 0.0%
Quasi-Sovereign Bonds - 0.0%
Mexico - 0.0%
Petroleos Mexicanos
6.50%, 1/23/29 (e) (cost $40,981)	$	41			37,682
	Shares
WARRANTS - 0.0%
Information Technology - 0.0%
Software - 0.0%
Avaya Holdings Corp., expiring 12/15/22 (a)		4,686			21,087
Industrials - 0.0%
Construction & Engineering - 0.0%
Willscot Corp., expiring 11/29/22 (a)(b)(c)(d)		1,913			8,857
Energy - 0.0%
Oil, Gas & Consumable Fuels - 0.0%
Midstates Petroleum Co., Inc., expiring 4/21/20 (a)(b)		2,090			314
SandRidge Energy, Inc., A-CW22, expiring 10/04/22 (a)		4,803			48
SandRidge Energy, Inc., B-CW22, expiring 10/04/22 (a)		2,019			202
					564
Total Warrants (cost $20,248)					30,508
	Principal Amount (000)
MORTGAGE PASS-THROUGHS - 0.0%
Agency Fixed Rate 30-Year - 0.0%
Federal National Mortgage Association
Series 2006
5.00%, 1/01/36 (cost $184)	$	0	**		179

	Principal Amount (000)		U.S. $ Value
SHORT-TERM INVESTMENTS - 9.1%
Governments-Treasuries - 5.2%
Japan - 5.2%
Japan Treasury Discount Bill
Series 789
Zero Coupon, 1/21/19 (cost $37,805,355)	JPY	4,241,000	$	37,374,898
	Shares
Investment Companies - 2.5%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.13% (h)(i)(t) (cost $18,224,753)		18,224,753		18,224,753
	Principal Amount (000)
U.S. Treasury Bills - 1.4%
U.S. Treasury Bill
Zero Coupon, 1/31/19-2/07/19 (cost $9,961,566)	$	10,000		9,961,542
Total Short-Term Investments (cost $65,991,674)				65,561,193
Total Investments Before Security Lending Collateral for Securities Loaned - 99.8% (cost $715,344,512)			$	720,384,627
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 0.6%
Investment Companies - 0.6%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.13% (h)(i)(t) (cost $4,703,922)		4,703,922		4,703,922
Total Investments - 100.4% (cost $720,048,434) (u)				725,088,549
Other assets less liabilities - (0.4)%				(3,147,275	)
Net Assets - 100.0%			$	721,941,274

FUTURES

Description	Number of Contracts		Expiration Month		Notional (000)		Original Value		Value at November 30, 2018		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr Australian Bond Futures		68		December 2018	AUD	6,800	$	6,443,456	$	6,452,287	$	8,831
10 Yr Canadian Bond Futures		64		March 2019	CAD	6,400		6,376,455		6,420,472		44,017
10 Yr Japan Bond (OSE) Futures		128		December 2018	JPY	12,800,000		169,479,667		170,459,939		980,272
Euro Buxl 30 Yr Bond Futures		102		December 2018	EUR	10,200		20,464,477		20,623,697		159,220
Euro-BOBL Futures		114		March 2019	EUR	11,400		17,060,491		17,064,237		3,746
Euro-Bund Futures		214		December 2018	EUR	21,400		38,893,235		39,136,208		242,973

Description	Number of Contracts		Expiration Month		Notional (000)			Original Value		Value at November 30, 2018		Unrealized Appreciation/ (Depreciation)
Euro-Schatz Futures		202		March 2019	EUR	20,200		$	25,588,847	$	25,589,768	$	921
Long Gilt Futures		270		March 2019	GBP	27,000			42,060,238		42,194,004		133,766
MSCI EAFE Futures		199		December 2018	USD	10			19,402,519		18,072,185		(1,330,334	)
Mini MSCI Emerging Markets Futures		101		December 2018	USD	5			5,227,889		5,047,980		(179,909	)
S&P 500 E-Mini Futures		227		December 2018	USD	11			32,200,630		31,306,705		(893,925	)
S&P Mid 400 E-Mini Futures		48		December 2018	USD	5			9,763,753		9,021,600		(742,153	)
S&P TSX 60 Index Futures		10		December 2018	CAD	2			1,429,636		1,373,876		(55,760	)
U.S. T-Note 2 Yr (CBT) Futures		49		March 2019	USD	9,800			10,335,231		10,338,233		3,002
U.S. T-Note 5 Yr (CBT) Futures		330		March 2019	USD	33,000			37,238,704		37,277,110		38,406
U.S. T-Note 10 Yr (CBT) Futures		382		March 2019	USD	38,200			45,535,535		45,631,094		95,559
U.S. Ultra Bond (CBT) Futures		188		March 2019	USD	18,800			28,774,396		28,652,375		(122,021	)
Sold Contracts
10 Yr Mini Japan Government Bond Futures		65		December 2018	JPY	650,000			8,592,688		8,659,604		(66,916	)
Euro STOXX 50 Futures		86		December 2018	EUR	1			3,036,957		3,079,516		(42,559	)
Euro-Bund Futures		72		December 2018	EUR	7,200			13,015,031		13,167,322		(152,291	)
FTSE 100 Index Futures		18		December 2018	GBP	– 0	–***		1,600,289		1,598,445		1,844
S&P 500 E-Mini Futures		72		December 2018	USD	4			9,644,600		9,929,880		(285,280	)
S&P TSX 60 Index Futures		7		December 2018	CAD	1			937,796		961,713		(23,917	)
SPI 200 Futures		11		December 2018	AUD	– 0	–***		1,129,154		1,140,460		(11,306	)
TOPIX Index Futures		15		December 2018	JPY	150			2,129,888		2,204,114		(74,226	)
U.S. T-Note 10 Yr (CBT) Futures		36		March 2019	USD	3,600			4,287,326		4,300,313		(12,987	)
												$	(2,281,027	)

FORWARD CURRENCY EXCHANGE CONTRACTS
Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Australia and New Zealand Banking Group Ltd.	CNY	71,106	USD	10,267		12/13/18	$	36,273
Australia and New Zealand Banking Group Ltd.	AUD	4,334	USD	3,068		12/07/18		(99,399	)
Australia and New Zealand Banking Group Ltd.	USD	1,485	AUD	2,062		12/07/18		21,986
Australia and New Zealand Banking Group Ltd.	USD	4,434	CNY	30,650		12/13/18		(24,145	)
Australia and New Zealand Banking Group Ltd.	USD	3,067	JPY	342,853		12/13/18		(44,381	)
Bank of America, NA	KRW	4,104,274	USD	3,646		2/20/19		(27,654	)
Bank of America, NA	RUB	98,005	USD	1,447		12/14/18		(13,243	)
Bank of America, NA	RUB	132,752	USD	1,985		12/14/18		6,838
Bank of America, NA	BRL	9,966	USD	2,705		12/04/18		128,100
Bank of America, NA	TRY	1,568	USD	296		12/12/18		(3,003	)
Bank of America, NA	EUR	788	USD	902		1/09/19		6,630
Bank of America, NA	EUR	493	GBP	433		12/14/18		(6,541	)
Bank of America, NA	USD	1,439	AUD	1,974		12/07/18		3,947
Bank of America, NA	USD	2,348	CAD	3,042		12/14/18		(57,181	)
Bank of America, NA	USD	2,580	BRL	9,966		12/04/18		(2,468	)
Bank of America, NA	USD	7,024	CNY	48,705		12/13/18		(16,295	)
Bank of America, NA	USD	1,491	RUB	100,446		12/14/18		6,200
Bank of America, NA	USD	3,821	JPY	432,528		12/13/18		(8,145	)
Bank of America, NA	USD	1,444	COP	4,676,123		12/20/18		867
Barclays Bank PLC	COP	2,699,923	USD	858		12/20/18		23,677
Barclays Bank PLC	JPY	414,995	USD	3,655		12/13/18		(3,050	)
Barclays Bank PLC	JPY	490,570	USD	4,346		12/13/18		21,337
Barclays Bank PLC	INR	698,608	USD	9,790		12/13/18		(220,231	)
Barclays Bank PLC	TWD	113,011	USD	3,662		12/11/18		(1,781	)
Barclays Bank PLC	TWD	91,465	USD	2,971		12/11/18		5,297
Barclays Bank PLC	ZAR	12,051	USD	781		12/13/18		(87,516	)
Barclays Bank PLC	CNY	7,111	USD	1,024		1/23/19		2,558
Barclays Bank PLC	TRY	10,367	USD	1,674		1/15/19		(266,463	)
Barclays Bank PLC	CAD	6,844	USD	5,242		12/14/18		89,461
Barclays Bank PLC	MYR	3,052	USD	725		2/26/19		(4,474	)
Barclays Bank PLC	TRY	2,758	USD	503		12/12/18		(23,334	)
Barclays Bank PLC	CAD	1,903	USD	1,435		1/17/19		1,359
Barclays Bank PLC	EUR	1,625	USD	1,847		12/13/18		5,646
Barclays Bank PLC	USD	1,302	EUR	1,125		1/09/19		(23,928	)
Barclays Bank PLC	USD	1,463	CHF	1,446		1/17/19		(8,805	)
Barclays Bank PLC	USD	2,237	GBP	1,716		12/14/18		(48,922	)
Barclays Bank PLC	USD	1,329	TRY	7,288		12/12/18		61,659
Barclays Bank PLC	USD	2,219	CNY	15,360		12/13/18		(9,139	)
Barclays Bank PLC	USD	5,333	INR	394,112		12/13/18		314,584
Barclays Bank PLC	USD	7,508	TWD	231,432		12/11/18		(5,221	)
Barclays Bank PLC	USD	1,272	INR	88,510		12/13/18		(3,441	)
Barclays Bank PLC	USD	83	IDR	1,254,540		12/26/18		4,450
Barclays Bank PLC	USD	2,237	KRW	2,515,946		2/20/19		15,363
BNP Paribas SA	COP	9,211,571	USD	2,932		12/20/18		86,558
BNP Paribas SA	JPY	331,090	USD	2,942		12/13/18		22,768
BNP Paribas SA	CNY	48,705	USD	7,036		12/13/18		28,979
BNP Paribas SA	TWD	28,592	USD	928		12/11/18		902
BNP Paribas SA	MXN	25,159	USD	1,329		12/05/18		92,755
BNP Paribas SA	NZD	2,101	USD	1,430		12/07/18		(14,315	)
BNP Paribas SA	USD	2,957	AUD	4,130		12/07/18		61,672
BNP Paribas SA	USD	2,779	AUD	3,850		12/14/18		34,914
BNP Paribas SA	USD	3,710	EUR	3,211		1/09/19		(61,785	)
BNP Paribas SA	USD	2,892	NOK	24,671		1/23/19		(14,931	)
BNP Paribas SA	USD	5,404	JPY	608,564		12/13/18		(38,561	)
BNP Paribas SA	USD	1,468	JPY	165,344		12/07/18		(10,690	)
Citibank, NA	JPY	413,356	USD	3,656		12/13/18		12,351
Citibank, NA	INR	56,570	USD	769		12/13/18		(41,965	)
Citibank, NA	MXN	43,929	USD	2,197		12/05/18		39,103
Citibank, NA	TRY	7,573	USD	1,437		12/12/18		(7,658	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Citibank, NA	EUR	9,781	USD	11,422		12/14/18	$	339,931
Citibank, NA	BRL	10,947	USD	2,834		12/04/18		2,711
Citibank, NA	UYU	10,638	USD	324		12/04/18		(6,160	)
Citibank, NA	UYU	5,319	USD	162		1/22/19		(3,544	)
Citibank, NA	AUD	5,121	USD	3,672		12/07/18		(71,041	)
Citibank, NA	ILS	1,998	USD	539		1/30/19		(1,009	)
Citibank, NA	CAD	1,905	USD	1,429		1/17/19		(6,132	)
Citibank, NA	CAD	1,892	USD	1,433		1/17/19		7,542
Citibank, NA	TRY	1,310	USD	224		2/26/19		(15,504	)
Citibank, NA	TRY	1,273	USD	218		2/28/19		(15,072	)
Citibank, NA	EUR	638	USD	730		1/09/19		5,535
Citibank, NA	GBP	315	USD	410		1/15/19		7,134
Citibank, NA	USD	2,978	BRL	10,947		12/04/18		(146,852	)
Citibank, NA	USD	6,071	EUR	5,256		1/09/19		(99,410	)
Citibank, NA	USD	1,475	AUD	2,052		12/07/18		25,082
Citibank, NA	USD	3,144	GBP	2,426		12/14/18		(50,655	)
Citibank, NA	USD	746	NZD	1,139		12/07/18		36,619
Citibank, NA	USD	1,204	CAD	1,561		12/14/18		(28,427	)
Citibank, NA	USD	713	TRY	3,931		12/12/18		36,816
Citibank, NA	USD	329	UYU	10,638		12/04/18		1,583
Citibank, NA	NOK	12,350	EUR	1,282		1/23/19		17,710
Citibank, NA	USD	1,790	CNY	12,412		12/13/18		(4,353	)
Citibank, NA	USD	1,809	CNY	12,620		12/13/18		6,494
Citibank, NA	USD	1,446	SEK	13,085		1/23/19		(1,498	)
Citibank, NA	SEK	13,147	CHF	1,445		1/17/19		2,934
Citibank, NA	SEK	19,670	EUR	1,905		1/23/19		(4,386	)
Citibank, NA	USD	3,363	CNY	23,328		1/23/19		(12,377	)
Citibank, NA	USD	627	INR	43,743		12/13/18		(131	)
Citibank, NA	USD	1,392	JPY	156,148		12/13/18		(15,140	)
Citibank, NA	USD	4,708	CLP	3,190,826		12/20/18		42,727
Citibank, NA	USD	272	COP	852,851		12/20/18		(8,436	)
Credit Suisse International	JPY	66,039	USD	584		12/13/18		2,251
Credit Suisse International	MXN	22,893	USD	1,170		12/05/18		45,488
Credit Suisse International	CNY	6,303	USD	911		1/09/19		5,299
Credit Suisse International	EUR	3,219	USD	3,693		1/09/19		35,626
Credit Suisse International	AUD	2,179	USD	1,608		6/28/19		9,440
Credit Suisse International	TRY	1,808	USD	341		12/12/18		(3,509	)
Credit Suisse International	TRY	1,684	USD	228		2/28/19		(80,187	)
Credit Suisse International	CAD	1,477	USD	1,114		1/17/19		995
Credit Suisse International	CHF	937	USD	949		1/17/19		6,326
Credit Suisse International	TRY	732	USD	114		12/03/18		(26,127	)
Credit Suisse International	USD	249	CHF	242		2/28/19		(4,193	)
Credit Suisse International	USD	79	TRY	493		12/03/18		15,865
Credit Suisse International	CNY	929	JPY	14,900		12/13/18		(2,296	)
Credit Suisse International	USD	226	TRY	1,310		2/26/19		14,331
Credit Suisse International	USD	1,954	TRY	12,239		1/15/19		337,386
Credit Suisse International	USD	927	NZD	1,365		12/07/18		11,519
Credit Suisse International	USD	3,738	GBP	2,833		12/14/18		(125,691	)
Credit Suisse International	USD	617	TRY	3,743		1/17/19		83,402
Credit Suisse International	USD	7,020	EUR	5,977		12/14/18		(248,274	)
Credit Suisse International	USD	2,180	SEK	19,592		1/23/19		(16,879	)
Credit Suisse International	USD	1,596	INR	110,664		12/13/18		(9,821	)
Credit Suisse International	JPY	134,943	AUD	1,661		12/07/18		24,943
Deutsche Bank AG	EUR	1,323	USD	1,546		1/09/19		42,022
Deutsche Bank AG	TRY	3,484	EUR	509		1/17/19		(72,823	)
Deutsche Bank AG	USD	720	ZAR	9,983		1/30/19		(4,830	)
Goldman Sachs Bank USA	IDR	1,254,540	USD	83		12/26/18		(4,450	)
Goldman Sachs Bank USA	BRL	6,005	USD	1,545		12/04/18		(7,990	)
Goldman Sachs Bank USA	BRL	5,113	USD	1,323		12/04/18		1,266
Goldman Sachs Bank USA	CAD	1,917	USD	1,442		12/20/18		(1,607	)
Goldman Sachs Bank USA	NZD	1,364	USD	880		12/07/18		(57,660	)
Goldman Sachs Bank USA	USD	2,656	CAD	3,398		12/14/18		(97,231	)
Goldman Sachs Bank USA	USD	1,460	NZD	2,127		1/09/19		2,516
Goldman Sachs Bank USA	CHF	2,193	EUR	1,929		1/09/19		(12,081	)
Goldman Sachs Bank USA	USD	2,918	BRL	11,118		12/04/18		(42,974	)
Goldman Sachs Bank USA	USD	1,444	BRL	5,427		12/13/18		(41,810	)
Goldman Sachs Bank USA	JPY	14,900	CNY	929		12/13/18		2,297
Goldman Sachs Bank USA	USD	1,123	RUB	79,827		12/14/18		66,029
Goldman Sachs Bank USA	USD	6,347	INR	441,522		12/13/18		(20,881	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
HSBC Bank USA	MXN	75,151	USD	3,937		12/05/18	$	245,789
HSBC Bank USA	INR	39,646	USD	543		12/13/18		(24,946	)
HSBC Bank USA	CNY	15,493	USD	2,232		12/13/18		3,424
HSBC Bank USA	CHF	1,478	USD	1,480		1/17/19		(6,736	)
HSBC Bank USA	AUD	1,221	USD	873		6/28/19		(22,825	)
HSBC Bank USA	NZD	1,177	USD	759		12/07/18		(50,030	)
HSBC Bank USA	GBP	569	USD	740		12/14/18		14,883
HSBC Bank USA	USD	1,488	NZD	2,238		12/07/18		50,917
HSBC Bank USA	USD	644	TWD	19,690		3/14/19		7
HSBC Bank USA	USD	1,708	ZAR	23,991		1/30/19		10,998
HSBC Bank USA	USD	1,469	JPY	163,529		12/13/18		(27,539	)
HSBC Bank USA	JPY	165,083	AUD	2,074		12/07/18		61,386
HSBC Bank USA	USD	2,890	KRW	3,231,509		2/20/19		2,002
JPMorgan Chase Bank, NA	JPY	178,142	USD	1,583		12/14/18		12,024
JPMorgan Chase Bank, NA	NOK	28,088	USD	3,278		1/23/19		2,087
JPMorgan Chase Bank, NA	TRY	13,193	USD	2,498		12/12/18		(18,912	)
JPMorgan Chase Bank, NA	CAD	3,832	USD	2,896		1/17/19		8,754
JPMorgan Chase Bank, NA	EUR	3,242	USD	3,675		1/09/19		(9,219	)
JPMorgan Chase Bank, NA	GBP	5,029	USD	6,659		12/14/18		247,393
JPMorgan Chase Bank, NA	CHF	2,345	USD	2,341		1/17/19		(18,139	)
JPMorgan Chase Bank, NA	CNY	1,576	USD	229		12/19/18		2,053
JPMorgan Chase Bank, NA	EUR	1,276	USD	1,462		1/09/19		11,802
JPMorgan Chase Bank, NA	TRY	493	USD	79		12/03/18		(15,865	)
JPMorgan Chase Bank, NA	CHF	252	USD	258		2/26/19		3,525
JPMorgan Chase Bank, NA	USD	410	GBP	315		1/15/19		(7,134	)
JPMorgan Chase Bank, NA	USD	583	AUD	808		12/07/18		7,627
JPMorgan Chase Bank, NA	USD	735	NZD	1,105		12/07/18		24,166
JPMorgan Chase Bank, NA	USD	1,451	EUR	1,251		12/14/18		(33,932	)
JPMorgan Chase Bank, NA	USD	1,752	GBP	1,361		12/14/18		(16,526	)
JPMorgan Chase Bank, NA	USD	2,318	EUR	1,998		1/09/19		(47,389	)
JPMorgan Chase Bank, NA	USD	911	CNY	6,303		1/09/19		(5,299	)
JPMorgan Chase Bank, NA	USD	1,855	NOK	15,686		1/23/19		(25,192	)
JPMorgan Chase Bank, NA	USD	1,031	TWD	31,653		12/11/18		(4,645	)
JPMorgan Chase Bank, NA	JPY	67,724	AUD	836		12/07/18		14,206
JPMorgan Chase Bank, NA	USD	3,684	JPY	412,199		12/13/18		(50,159	)
Morgan Stanley Capital Services, Inc.	JPY	1,449,193	USD	13,086		12/14/18		308,581
Morgan Stanley Capital Services, Inc.	BRL	11,393	USD	2,929		12/04/18		(16,817	)
Morgan Stanley Capital Services, Inc.	BRL	18,752	USD	4,886		12/04/18		37,149
Morgan Stanley Capital Services, Inc.	BRL	9,124	USD	2,342		1/03/19		(14,253	)
Morgan Stanley Capital Services, Inc.	GBP	6,573	USD	8,588		12/14/18		207,672
Morgan Stanley Capital Services, Inc.	NZD	3,873	USD	2,499		12/07/18		(163,287	)
Morgan Stanley Capital Services, Inc.	AUD	3,850	USD	2,743		12/14/18		(71,098	)
Morgan Stanley Capital Services, Inc.	AUD	3,427	USD	2,431		12/07/18		(74,029	)
Morgan Stanley Capital Services, Inc.	EUR	1,254	USD	1,434		1/09/19		9,454
Morgan Stanley Capital Services, Inc.	AUD	1,080	USD	800		6/28/19		7,834
Morgan Stanley Capital Services, Inc.	USD	1,945	GBP	1,505		12/14/18		(26,612	)
Morgan Stanley Capital Services, Inc.	USD	4,440	AUD	6,012		6/28/19		(28,702	)
Morgan Stanley Capital Services, Inc.	USD	1,478	AUD	2,029		12/07/18		4,777
Morgan Stanley Capital Services, Inc.	USD	5,461	BRL	21,021		12/04/18		(25,250	)
Morgan Stanley Capital Services, Inc.	USD	2,346	BRL	9,124		12/04/18		13,468
Morgan Stanley Capital Services, Inc.	USD	1,151	NOK	9,742		1/23/19		(15,127	)
Morgan Stanley Capital Services, Inc.	USD	2,924	BRL	11,393		1/03/19		17,798

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Morgan Stanley Capital Services, Inc.	USD	1,470	SEK	13,227		1/23/19	$	(9,691	)
Morgan Stanley Capital Services, Inc.	USD	721	MXN	14,606		12/05/18		(3,672	)
Morgan Stanley Capital Services, Inc.	USD	1,545	INR	112,367		12/13/18		65,031
Morgan Stanley Capital Services, Inc.	USD	5,092	JPY	571,079		12/13/18		(57,379	)
Morgan Stanley Capital Services, Inc.	USD	1,609	JPY	178,142		12/14/18		(37,932	)
Morgan Stanley Capital Services, Inc.	JPY	218,358	EUR	1,693		12/13/18		(6,887	)
Natwest Markets PLC	INR	333,135	USD	4,536		12/13/18		(237,619	)
Natwest Markets PLC	TWD	47,911	USD	1,563		12/11/18		10,035
Natwest Markets PLC	MXN	28,336	USD	1,456		12/05/18		64,411
Natwest Markets PLC	GBP	1,521	USD	1,981		12/14/18		41,194
Natwest Markets PLC	TRY	1,431	USD	223		12/03/18		(50,946	)
Natwest Markets PLC	EUR	635	USD	727		1/09/19		5,196
Natwest Markets PLC	USD	2,261	AUD	3,139		12/07/18		33,058
Natwest Markets PLC	USD	2,103	GBP	1,615		12/14/18		(43,730	)
Natwest Markets PLC	USD	565	TWD	17,206		3/14/19		(2,311	)
Natwest Markets PLC	USD	3,680	SEK	33,136		1/23/19		(22,145	)
Natwest Markets PLC	USD	7,014	INR	511,220		12/13/18		310,835
Natwest Markets PLC	USD	3,832	TWD	117,027		12/11/18		(37,891	)
Natwest Markets PLC	USD	3,902	JPY	439,779		12/13/18		(25,001	)
Natwest Markets PLC	USD	2,730	KRW	3,047,295		2/20/19		(2,345	)
Natwest Markets PLC	USD	1,438	KRW	1,616,604		2/20/19		8,720
Standard Chartered Bank	JPY	1,428,468	USD	12,656		12/13/18		62,680
Standard Chartered Bank	TWD	136,099	USD	4,444		12/11/18		31,876
Standard Chartered Bank	INR	64,834	USD	869		12/13/18		(60,114	)
Standard Chartered Bank	BRL	843	USD	218		12/04/18		209
Standard Chartered Bank	EUR	491	USD	557		1/09/19		(412	)
Standard Chartered Bank	USD	225	BRL	843		12/04/18		(6,729	)
Standard Chartered Bank	USD	1,489	NZD	2,197		12/07/18		20,828
Standard Chartered Bank	USD	1,441	CNY	10,016		12/13/18		(248	)
Standard Chartered Bank	USD	1,707	INR	125,682		12/13/18		93,919
Standard Chartered Bank	USD	2,209	JPY	248,064		12/13/18		(21,698	)
Standard Chartered Bank	USD	30	IDR	457,519		1/29/19		1,778
Standard Chartered Bank	USD	552	KRW	614,741		2/20/19		(1,266	)
State Street Bank & Trust Co.	JPY	41,292	USD	365		12/13/18		873
State Street Bank & Trust Co.	MXN	13,555	USD	672		12/05/18		6,084
State Street Bank & Trust Co.	EUR	3,090	USD	3,574		1/09/19		62,539
State Street Bank & Trust Co.	TRY	2,775	USD	408		2/28/19		(99,666	)
State Street Bank & Trust Co.	TRY	1,939	USD	373		12/12/18		3,122
State Street Bank & Trust Co.	CHF	1,438	USD	1,445		1/17/19		(1,073	)
State Street Bank & Trust Co.	NZD	1,204	USD	778		12/07/18		(49,856	)
State Street Bank & Trust Co.	CHF	1,058	USD	1,099		12/14/18		38,881
State Street Bank & Trust Co.	CHF	412	USD	415		1/09/19		904
State Street Bank & Trust Co.	SGD	356	USD	259		1/24/19		(1,121	)
State Street Bank & Trust Co.	GBP	342	USD	450		12/14/18		14,790
State Street Bank & Trust Co.	CHF	291	USD	293		1/17/19		219
State Street Bank & Trust Co.	CHF	413	USD	428		2/28/19		10,131
State Street Bank & Trust Co.	USD	487	CHF	479		1/17/19		(4,945	)
State Street Bank & Trust Co.	USD	3,120	EUR	2,693		1/09/19		(60,648	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.	USD	250	CHF	244		2/28/19	$	(3,624	)
State Street Bank & Trust Co.	USD	258	CHF	252		2/26/19		(3,729	)
State Street Bank & Trust Co.	USD	732	NZD	1,086		12/07/18		14,582
State Street Bank & Trust Co.	USD	220	TRY	1,203		12/12/18		9,610
State Street Bank & Trust Co.	USD	459	TRY	2,937		2/28/19		78,329
State Street Bank & Trust Co.	USD	539	TRY	2,799		12/12/18		(4,588	)
State Street Bank & Trust Co.	USD	339	SEK	3,051		1/23/19		(2,172	)
State Street Bank & Trust Co.	USD	4,670	MYR	19,586		2/26/19		10,490
State Street Bank & Trust Co.	USD	299	MXN	6,130		12/05/18		2,395
State Street Bank & Trust Co.	USD	568	ZAR	7,946		1/30/19		1,494
State Street Bank & Trust Co.	USD	742	ZAR	10,789		12/13/18		35,980
State Street Bank & Trust Co.	USD	1,231	JPY	138,170		12/13/18		(13,151	)
UBS AG	JPY	4,244,355	USD	38,184		1/28/19		597,943
UBS AG	JPY	490,703	USD	4,324		12/13/18		(2,310	)
UBS AG	JPY	646,751	USD	5,770		12/13/18		68,113
UBS AG	CNY	15,422	USD	2,219		12/13/18		621
UBS AG	EUR	4,360	USD	5,033		1/09/19		79,433
UBS AG	CHF	2,205	USD	2,216		1/17/19		(1,917	)
UBS AG	CHF	1,473	USD	1,483		1/17/19		1,700
UBS AG	CAD	1,037	USD	785		1/17/19		4,057
UBS AG	CHF	750	USD	755		12/14/18		3,626
UBS AG	USD	713	GBP	551		12/14/18		(10,623	)
UBS AG	USD	1,888	CHF	1,808		12/14/18		(76,246	)
UBS AG	USD	2,225	EUR	1,935		1/09/19		(26,450	)
UBS AG	USD	1,913	NZD	2,873		12/07/18		61,811
UBS AG	USD	2,871	MXN	58,116		12/05/18		(16,612	)
UBS AG	USD	582	JPY	64,798		1/18/19		(8,948	)
UBS AG	USD	4,836	JPY	541,174		12/13/18		(65,593	)
							$	1,092,270

CALL OPTIONS WRITTEN

Description	Counterparty		Contracts		Exercise Price			Expiration Month		Notional (000)				Premiums Received		U.S. $ Value
Euro STOXX 50 Index (v)		Citibank, NA		2,040		EUR	3,100.00		December 2018		EUR	2		$	174,168	$	(215,010	)
FTSE 100 Index (v)		Citibank, NA		390		GBP	7,100.00		December 2018		GBP	– 0	–		56,017		(26,636	)
Nikkei 225 Index (v)		Goldman Sachs International		18,000		JPY	21,625.00		December 2018		JPY	18			111,475		(138,348	)
S&P 500 Index (v)		Goldman Sachs International		1,700		USD	2,690.00		December 2018		USD	2			68,599		(160,583	)
S&P 500 Index (v)		Goldman Sachs International		6,900		USD	2,690.00		December 2018		USD	7			293,947		(651,780	)
S&P 500 Index (v)		Credit Suisse International		13,000		USD	2,900.00		January 2019		USD	13			138,450		(163,103	)
														$	842,656	$	(1,355,460	)

PUT OPTIONS WRITTEN

Description	Counterparty		Contracts		Exercise Price			Expiration Month		Notional (000)				Premiums Received		U.S. $ Value
Euro STOXX 50 Index (v)		Citibank, NA		2,040		EUR	3,100.00		December 2018		EUR	2		$	116,112	$	(69,482	)
FTSE 100 Index (v)		Citibank, NA		390		GBP	7,100.00		December 2018		GBP	– 0	–		77,746		(85,764	)
Nikkei 225 Index (v)		Goldman Sachs International		18,000		JPY	21,625.00		December 2018		JPY	18			127,149		(22,176	)
S&P 500 Index (v)		Goldman Sachs International		1,700		USD	2,690.00		December 2018		USD	2			140,777		(41,969	)
S&P 500 Index (v)		Goldman Sachs International		6,900		USD	2,690.00		December 2018		USD	7			495,213		(170,346	)
														$	956,997	$	(389,737	)

CURRENCY OPTIONS WRITTEN

Description/ Counterparty	Exercise Price		Expiration Month		Contracts		Notional Amount (000)		Premiums Received		U.S. $ Value
Call
AUD vs. USD/ Morgan Stanley Capital Services LLC (v)	AUD	1.282		06/2019		13,200,000	AUD	13,200	$	137,041	$	(64,641	)
Put
BRL vs. USD/ Morgan Stanley Capital Services LLC (v)	BRL	4.100		02/2019		14,719,000	BRL	14,719		46,426		(46,304	)
BRL vs. USD/ Morgan Stanley Capital Services LLC (v)	BRL	4.170		02/2019		2,272,650	BRL	2,273		5,259		(5,521	)
CNH vs. USD/ JPMorgan Chase Bank, NA (v)	CNH	7.050		12/2018		8,636,250	CNH	8,636		6,180		(2,619	)
IDR vs. USD/ Goldman Sachs Bank USA (v)	IDR	15,870.000		12/2018		9,744,180,000	IDR	9,744,180		3,919		(186	)
INR vs. USD/ JPMorgan Chase Bank, NA (v)	INR	71.320		02/2019		46,358,000	INR	46,358		6,019		(6,136	)
JPY vs. CNH/ Goldman Sachs Bank USA (v)	JPY	16.500		12/2018		68,887,500	JPY	68,888		3,097		(1,037	)
MXN vs. USD/ Morgan Stanley Capital Services LLC (v)	MXN	23.820		02/2019		15,483,000	MXN	15,483		8,660		(1,778	)
SGD vs. CHF/ UBS AG (v)	SGD	1.550		06/2019		930,000	SGD	930		2,811		(1,543	)
TRY vs. CHF/ UBS AG (v)	TRY	5.900		02/2019		3,687,500	TRY	3,688		6,741		(11,380	)
TRY vs. EUR/ Deutsche Bank AG (v)	TRY	7.510		01/2019		7,660,200	TRY	7,660		20,434		(1,328	)
TRY vs. EUR/ JPMorgan Chase Bank, NA (v)	TRY	7.510		01/2019		19,458,410	TRY	19,458		49,907		(3,374	)

Description/ Counterparty	Exercise Price			Expiration Month		Contracts		Notional Amount (000)			Premiums Received		U.S. $ Value
TRY vs. USD/ Goldman Sachs Bank USA (v)		TRY	7.000		12/2018		31,605,000		TRY	31,605	$	46,414	$	(382	)
TRY vs. USD/ JPMorgan Chase Bank, NA (v)		TRY	7.000		11/2018		4,305,000		TRY	4,305		6,906		(41	)
TRY vs. USD/ JPMorgan Chase Bank, NA (v)		TRY	7.380		12/2018		28,708,200		TRY	28,708		92,812		(2,401	)
TRY vs. USD/ Barclays Bank PLC (v)		TRY	6.900		01/2019		8,107,500		TRY	8,108		26,285		(1,231	)
TRY vs. USD/ Barclays Bank PLC (v)		TRY	6.900		01/2019		20,355,000		TRY	20,355		65,992		(3,092	)
											$	534,903	$	(152,994	)

CREDIT DEFAULT SWAPTIONS WRITTEN

Description	Counterparty		Buy/Sell Protection		Strike Rate			Expiration Month		Notional Amount (000)			Premiums Received		Market Value
Put
CDX-NAHY Series 31, 5 Year Index (v)		Deutsche Bank AG		Sell		1.00	%		Jan, 2019		USD	575	$	2,415	$	(1,076	)
CDX-NAHY Series 31, 5 Year Index (v)		Credit Suisse International		Sell		1.00			Jan, 2019		USD	1,170		5,125		(2,191	)
													$	7,540	$	(3,267	)

INTEREST RATE SWAPTIONS WRITTEN

Description	Index	Counterparty	Strike Rate			Expiration Date		Notional Amount (000)		Premiums Received		Market Value
Call
OTC-1 Year Interest Rate Swap (v)	3 Month LIBOR	Deutsche Bank AG		3.18	%		11/30/18	USD	605	$	3,963	$	(5,507	)
OTC-1 Year Interest Rate Swap (v)	3 Month LIBOR	JPMorgan Chase Bank, NA		3.23			11/30/18	USD	605		3,781		(7,824	)
OTC-1 Year Interest Rate Swap (v)	6 Month EURIBOR	Citibank, NA		1.52			12/03/18	EUR	195		1,936		(3,448	)
OTC-1 Year Interest Rate Swap (v)	6 Month EURIBOR	Bank of America, NA		1.53			12/06/18	EUR	195		1,809		(3,908	)
OTC-1 Year Interest Rate Swap (v)	6 Month EURIBOR	Bank of America, NA		0.68			12/07/18	USD	675		1,892		(6,662	)

Description	Index	Counter- Party	Strike Rate			Expiration Date		Notional Amount (000)		Premiums Received		Market Value
OTC - 1 Year Interest Rate Swap (v)	6 Month EURIBOR	Morgan Stanley Capital Services LLC		1.52	%		12/10/18	EUR	195	$	1,691	$	(3,461	)
OTC - 1 Year Interest Rate Swap (v)	6 Month EURIBOR	Bank of America, NA		1.55			12/10/18	EUR	195		1,695		(4,845	)
OTC - 1 Year Interest Rate Swap (v)	6 Month EURIBOR	Barclays Bank PLC		1.53			12/14/18	EUR	195		1,722		(3,883	)
OTC - 1 Year Interest Rate Swap (v)	6 Month LIBOR	Goldman Sachs International		1.60			12/17/18	USD	450		4,199		(4,390	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Morgan Stanley Capital Services LLC		3.03			12/20/18	USD	1,120		3,841		(3,926	)
OTC - 1 Year Interest Rate Swap (v)	6 Month EURIBOR	JPMorgan Chase Bank, NA		0.29			12/28/18	EUR	875		1,585		(1,542	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Morgan Stanley Capital Services LLC		2.94			1/29/19	USD	2,022		6,976		(6,998	)
Put
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Deutsche Bank AG		3.18			11/30/18	USD	605		3,963		0
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	JPMorgan Chase Bank, NA		3.23			11/30/18	USD	605		3,781		0
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Citibank, NA		3.29			12/03/18	USD	265		3,617		(1	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Bank of America, NA		3.27			12/06/18	USD	610		3,721		(2	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	UBS AG		3.26			12/07/18	USD	610		3,462		(8	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Citibank, NA		3.32			12/10/18	USD	270		3,348		(38	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	JPMorgan Chase Bank, NA		3.30			12/10/18	USD	270		3,402		(76	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Citibank, NA		3.29			12/14/18	USD	265		3,286		(204	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Morgan Stanley Capital Services LLC		3.25			12/17/18	USD	260		3,354		(602	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Morgan Stanley Capital Services LLC		3.03			12/20/18	USD	1,120		3,842		(1,551	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Bank of America, NA		3.15			12/31/18	USD	250		2,950		(2,909	)
OTC - 1 Year Interest Rate Swap (v)	3 Month LIBOR	Morgan Stanley Capital Services LLC		3.44			1/29/19	USD	2,022		6,976		(1,209	)
										$	80,792	$	(62,994	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Buy Contracts
CDX-NAHY Series 28, 5 Year Index, 6/20/22*		(5.00	)%		Quarterly		3.13	%		USD	6,138	$	(425,499	)	$	(410,738	)	$	(14,761	)
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.40			USD	5		(333	)		(355	)		22
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.40			USD	3,470		(230,720	)		(224,439	)		(6,281	)
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.40			USD	3,690		(245,347	)		(258,191	)		12,844
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.40			USD	8,190		(544,551	)		(354,689	)		(189,862	)
CDX-NAHY Series 30, 5 Year Index, 6/20/23*		(5.00	)		Quarterly		3.64			USD	1,470		(91,952	)		(103,987	)		12,035
CDX-NAHY Series 31, 5 Year Index, 12/20/23*		(5.00	)		Quarterly		3.93			USD	22,530		(1,230,236	)		(1,045,812	)		(184,424	)
iTraxxx Xover Series 28, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.02			EUR	1,914		(182,324	)		(232,012	)		49,688
iTraxxx Xover Series 28, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.02			EUR	5,920		(563,889	)		(625,126	)		61,237
Sale Contracts
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		5.00			Quarterly		3.40			USD	5		332			380			(48	)
CDX-NAHY Series 31, 5 Year Index, 12/20/23*		5.00			Quarterly		3.93			USD	5,115		279,302			349,590			(70,288	)

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
CDX-NAIG Series 28, 5 Year Index, 6/20/22*		1.00	%		Quarterly		0.57	%		USD	84,550	$	1,381,948		$	1,423,237		$	(41,289	)
iTraxxx Europe Series 27, 5 Year Index, 6/20/22*		1.00			Quarterly		0.49			EUR	37,100		842,273			937,901			(95,628	)
iTraxxx Xover Series 30, 5 Year Index, 12/20/23*		5.00			Quarterly		3.28			EUR	4,436		438,891			475,306			(36,415	)
												$	(572,105	)	$	(68,935	)	$	(503,170	)

* Termination date

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Barclays Bank PLC
Federative Republic of Brazil, 4.250%, 1/07/25, 6/20/23*		1.00	%		Quarterly		1.91	%		USD	189	$	(6,893	)	$	(6,473	)	$	(420	)
Federative Republic of Brazil, 4.250%, 1/07/25, 6/20/23*		1.00			Quarterly		1.91			USD	206		(7,513	)		(7,055	)		(458	)
CDX-CMBX.NA.BB Series 6, 5/11/63*		5.00			Monthly		13.95			USD	2,500		(622,722	)		(449,406	)		(173,316	)
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.61			USD	5,800		(829,594	)		(587,481	)		(242,113	)
Credit Suisse International
CDX-CMBX.NA.BB Series 6, 5/11/63*		5.00			Monthly		13.95			USD	2,500		(622,722	)		(458,987	)		(163,735	)
Deutsche Bank AG
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	34		(4,072	)		(4,117	)		45

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Goldman Sachs International
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00	%		Quarterly		3.88	%		USD	33	$	(3,952	)	$	(4,033	)	$	81
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	68		(8,142	)		(7,674	)		(468	)
HSBC Bank USA
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	34		(4,071	)		(4,155	)		84
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	85		(10,178	)		(9,625	)		(553	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	85		(10,178	)		(9,728	)		(450	)
JPMorgan Chase Bank, NA
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	34		(4,071	)		(4,155	)		84
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	32		(3,831	)		(3,898	)		67
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	52		(6,227	)		(6,335	)		108
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	34		(4,071	)		(3,938	)		(133	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	78		(9,340	)		(9,653	)		313
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	7		(838	)		(866	)		28
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	157		(18,800	)		(17,990	)		(810	)

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00	%		Quarterly		3.88	%		USD	13	$	(1,557	)	$	(1,490	)	$	(67	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	13		(1,556	)		(1,479	)		(77	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	156		(18,680	)		(17,753	)		(927	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	78		(9,340	)		(8,869	)		(471	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	6		(718	)		(682	)		(36	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	86		(10,298	)		(9,812	)		(486	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	86		(10,298	)		(9,812	)		(486	)
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	34		(4,071	)		(3,917	)		(154	)
Morgan Stanley & Co. International PLC
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	86		(10,298	)		(11,015	)		717
Republic of Turkey, 11.875%, 1/15/30, 12/20/23*		1.00			Quarterly		3.88			USD	85		(10,178	)		(9,695	)		(483	)
Morgan Stanley Capital Services LLC
Republic of South Africa, 5.500%, 3/09/20, 6/20/23*		1.00			Quarterly		2.18			USD	330		(15,429	)		(8,175	)		(7,254	)
												$	(2,269,638	)	$	(1,678,268	)	$	(591,370	)

* Termination date

INFLATION (CPI) SWAPS

						Rate Type
Swap Counterparty	Notional Amount (000)			Termination Date		Payments made by the Fund			Payments received by the Fund			Payment Frequency Paid/ Received		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		USD	45,900		7/31/21		2.230	%		CPI	#		Maturity	$	(464,002	)
Bank of America, NA		USD	29,970		7/31/21		2.230	%		CPI	#		Maturity		(302,966	)
														$	(766,968	)

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation	# of Shares or Units		Rate Paid/ Received			Payment Frequency		Notional Amount (000)		Maturity Date		Unrealized Appreciation/ (Depreciation)
Receive Total Return on Reference Obligation
Bank of America, NA iBoxx $ Liquid High Yield Index		553,000		LIBOR			Quarterly/Maturity	USD	553		12/20/18	$	(9,335	)
Bank of America, NA iBoxx $ Liquid High Yield Index		1,029,000		LIBOR			Quarterly/Maturity	USD	1,029		12/20/18		(17,241	)
Barclays Bank PLC Barclays Capital US Inflation Linked Bonds 1 to 10 Year		139,500,000		LIBOR Plus 0.0002%			Annual	USD	139,500		2/01/19		207,440
BNP Paribas SA iBoxx $ Liquid High Yield Index		717,000		LIBOR			Quarterly/Maturity	USD	717		12/20/18		(12,014	)
Citibank, NA
CGABROE2		183,100		LIBOR Plus 0.20%			Quarterly	USD	18,316		11/15/19		8,109
Credit Suisse International iBoxx $ Liquid High Yield Index		1,161,000		LIBOR			Quarterly/Maturity	USD	1,161		12/20/18		(20,290	)
Goldman Sachs International
GSABLJHB(1)		9,888,965		LIBOR Plus 0.20%JPY			Quarterly	JPY	874,086		2/15/19		71,274
Goldman Sachs International
Russell 2000 Total Return Index		1,310		LIBOR			Quarterly	USD	9,927		5/15/19		51,192
JPMorgan Chase Bank, NA
JPQABACP(2)(3)		377,614		1.00%			Maturity	USD	35,476		6/17/19		(1,682,979	)
Morgan Stanley Capital Services LLC
Bloomberg Agriculture Subindex		16,875		0.18%			Annual	USD	1,336		10/15/19		40,880
Morgan Stanley Capital Services LLC
Bloomberg Commodity Index		266,125		0.12%			Annual	USD	52,599		12/17/18		(1,786,479	)
Pay Total Return on Reference Obligation
Citibank, NA
Russell 1000 Index Total Return		2,122		LIBOR Plus 0.24%			Quarterly	USD	18,335		11/15/19		23,451
Goldman Sachs International
GSABSJHB(4)		9,888,965		LIBOR Minus 0.20%JPY			Quarterly	JPY	892,974		2/15/19		(183,602	)
Goldman Sachs International
S&P 500 Total Return Index		21,354		LIBOR Plus 0.13	%		Quarterly	USD	115,620		5/15/19		(1,197,309	)
												$	(4,506,903	)

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
Deutsche Bank AG
AUD/JPY 1/14/20*		11.12	%		Maturity		AUD	18	$	1,650		$	– 0	–	$	1,650
AUD/JPY 3/03/20*		12.75			Maturity		AUD	9		(2,706	)		– 0	–		(2,706	)
AUD/JPY 4/16/20*		12.25			Maturity		AUD	21		(2,465	)		– 0	–		(2,465	)
AUD/JPY 5/07/20*		12.22			Maturity		AUD	13		(1,140	)		– 0	–		(1,140	)
Goldman Sachs Bank USA
AUD/JPY 3/10/20*		12.90			Maturity		AUD	4		(1,348	)		– 0	–		(1,348	)
AUD/JPY 3/11/20*		12.80			Maturity		AUD	5		(1,439	)		– 0	–		(1,439	)
Sale Contracts
Bank of America, NA
SPDR S&P 500 ETF Trust 12/03/18*		29.00			Maturity		USD	1		– 0	–		– 0	–		– 0	–
									$	(7,448	)	$	– 0	–	$	(7,448	)

* Termination date

** Principal amount less than 500.

*** Notional amount less than 500.

(a) Non-income producing security.

(b) llliquid security.

(c) Fair valued by the Adviser.

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

(e) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2018, the aggregate market value of these securities amounted to $48,135,199 or 6.7% of net assets.

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

(g) Restricted and illiquid security.

Restricted & Illiquid Securities	Acquisition Date		Cost			Market Value			Percentage of Net Assets
CHC Group LLC		4/26/17	$	34,109		$	19,279			0.00	%
CHC Group LLC/CHC Finance Ltd. Series AI
Zero Coupon, 10/01/20		4/26/17		200,276			150,552			0.02	%
Exide Technologies		4/26/17		2,165			935			0.00	%
Exide Technologies/Old		4/26/17		1,094			473			0.00	%
Momentive Performance Materials, Inc.
8.875%, 10/15/20		4/26/17		– 0	–		– 0	–		0.00	%

(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) Defaulted.

(k) 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 November 30, 2018.

(l) Defaulted matured security.

(m) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities, which represent 0.11% of net assets as of November 30, 2018, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date		Cost			Market Value			Percentage of Net Assets
Aveta, Inc.
10.50%, 3/01/21		12/15/17	$	– 0	–	$	– 0	–		0.00	%
Dominican Republic International Bond
16.00%, 7/10/20		6/02/17		580,347			542,345			0.08	%
Exide Technologies
7.00%, 4/30/25		6/05/18		146,437			129,763			0.02	%
Exide Technologies
11.00%, 4/30/22		6/01/18		74,904			69,038			0.01	%
K2016470219 South Africa Ltd.
3.00%, 12/31/22		4/26/17		7,940			806			0.00	%
K2016470260 South Africa Ltd.
25.00%, 12/31/22		4/26/17		13,234			3,303			0.00	%
Magnetation LLC/Mag Finance Corp.
11.00%, 5/15/18		4/26/17		15			1			0.00	%
Texas Competitive/TCEH
11.50%, 10/01/20		4/26/17		– 0	–		– 0	–		0.00	%
Tonon Luxembourg SA
7.25%, 1/24/20		4/26/17		1,486			326			0.00	%
Vantage Drilling International
10.00%, 12/31/20		4/26/17		2,087			2,123			0.00	%
Virgolino de Oliveira Finance SA
10.50%, 1/28/18		4/26/17		33,435			26,746			0.00	%

(n) Convertible security.

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

(p) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at November 30, 2018.

(q) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(r) The stated coupon rate represents the greater of the LIBOR or the LIBOR floor rate plus a spread at November 30, 2018.

(s) This position or a portion of this position represents an unsettled loan purchase. The coupon rate will be determined at the time of settlement and will be based upon the London-Interbank Offered Rate (“LIBOR”) plus a premium which was determined at the time of purchase.

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

(u) As of November 30, 2018, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $57,714,685 and gross unrealized depreciation of investments was $(59,780,750), resulting in net unrealized depreciation of $(2,066,065).

(v) One contract relates to 1 share.

Currency Abbreviation:

ARS	-	Argentine Peso
AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
CLP	-	Chilean Peso
CNH	-	Chinese Yuan Renminbi (Offshore)
CNY	-	Chinese Yuan Renminbi
COP	-	Colombian Peso
DOP	-	Dominican Peso
EUR	-	Euro
GBP	-	Great British Pound
IDR	-	Indonesian Rupiah

ILS	-	Israeli Shekel
INR	-	Indian Rupee
JPY	-	Japanese Yen
KRW	-	South Korean Won
MXN	-	Mexican Peso
MYR	-	Malaysian Ringgit
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
RUB	-	Russian Ruble
SEK	-	Swedish Krona
SGD	-	Singapore Dollar
TRY	-	Turkish Lira
TWD	-	New Taiwan Dollar
USD	-	United States Dollar
UYU	-	Uruguayan Peso
ZAR	-	South African Rand
Glossary:
ABS	-	Asset-Backed Securities
ADR	-	American Depositary Receipt
ARLLMONP	-	Argentina Blended Policy Rate
BBA	-	British Bankers Association
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
CDX-NAIG	-	North American Investment Grade Credit Default Swap Index
CMBS	-	Commercial Mortgage-Backed Securities
CPI	-	Consumer Price Index
EAFE	-	Europe, Australia, and Far East
ETF	-	Exchange Traded Fund
EURIBOR	-	Euro Interbank Offered Rate
FTSE	-	Financial Times Stock Exchange
IDR	-	Industrial Development Revenue Bond
IRS	-	Interest Rate Swaption
LIBOR	-	London Interbank Offered Rates
MSCI	-	Morgan Stanley Capital International
OSE	-	Osaka Securities Exchange
PJSC	-	Public Joint Stock Company
SPDR	-	Standard & Poor’s Depository Receipt
SPI	-	Share Price Index
TOPIX	-	Tokyo Price Index
TSX	-	Toronto Stock Exchange

(1) The following table represents the 50 largest equity basket holdings underlying the total return swap with GSABLJHB as of November 30, 2018.

Security Description	Shares		Notional Amount as of 11/30/18		Percent of Basket’s Value
Sumitomo Dainippon Pharma Co. Ltd		5,634	JPY	20,846,996		2.4	%
FamilyMart UNY Holdings Co. Ltd		1,122		18,072,239		2.1	%
Eisai Co. Ltd		1,439		14,987,288		1.7	%
Kikkoman Corp.		2,183		14,448,544		1.6	%
Fast Retailing Co. Ltd		215		12,689,286		1.4	%
Suzuken Co. Ltd/Aichi Japan		1,935		11,824,592		1.3	%
Taiyo Nippon Sanso Corp.		5,971		11,415,615		1.3	%
Showa Shell Sekiyu KK		6,461		11,365,013		1.3	%
NTT Urban Development Corp.		6,759		11,347,653		1.3	%
Marui Group Co. Ltd		4,528		11,079,448		1.3	%
Sony Financial Holdings, Inc.		4,630		11,019,634		1.3	%
Medipal Holdings Corp.		4,230		10,997,563		1.2	%
TIS, Inc.		2,036		10,670,581		1.2	%

Security Description	Shares		Notional Amount as of 11/30/18		Percent of Basket’s Value
Alfresa Holdings Corp.		3,521	JPY	10,633,177		1.2	%
Nichirei Corp.		3,291		10,547,325		1.2	%
Shiseido Co. Ltd		1,392		10,056,272		1.1	%
Dai Nippon Printing Co. Ltd		3,772		9,904,343		1.1	%
Tokyo Gas Co. Ltd		3,367		9,844,873		1.1	%
Sumitomo Realty & Development		2,333		9,818,985		1.1	%
Sompo Holdings, Inc.		2,216		9,719,528		1.1	%
Trend Micro, Inc./Japan		1,488		9,684,032		1.1	%
Kyowa Hakko Kirin Co. Ltd		4,102		9,544,835		1.1	%
Mitsui Fudosan Co. Ltd		3,512		9,535,218		1.1	%
SBI Holdings, Inc./Japan		3,627		9,343,305		1.1	%
Hitachi Capital Corp.		3,260		9,145,568		1.0	%
Toyota Tsusho Corp.		2,330		9,132,739		1.0	%
Electric Power Development Co.		3,075		8,984,700		1.0	%
Konica Minolta, Inc.		8,749		8,941,079		1.0	%
Yokogawa Electric Corp.		4,265		8,895,985		1.0	%
Casio Computer Co. Ltd		5,608		8,877,435		1.0	%
Isetan Mitsukoshi Holdings Ltd		6,717		8,819,384		1.0	%
Mitsubishi Estate Co. Ltd		4,775		8,695,448		1.0	%
Sanwa Holdings Corp.		6,299		8,680,472		1.0	%
Nippon Express Co. Ltd		1,266		8,656,699		1.0	%
Iida Group Holdings Co. Ltd		4,311		8,634,475		1.0	%
Fukuoka Financial Group, Inc.		3,329		8,620,026		1.0	%
Kirin Holdings Co. Ltd		3,234		8,617,295		1.0	%
Dai-ichi Life Holdings, Inc.		4,354		8,612,651		1.0	%
Nippon Electric Glass Co. Ltd		2,805		8,554,016		1.0	%
Idemitsu Kosan Co. Ltd		2,059		8,505,115		1.0	%
Yokohama Rubber Co. Ltd/The		3,554		8,443,997		1.0	%
TDK Corp.		943		8,438,448		1.0	%
T&D Holdings, Inc.		5,182		8,358,237		0.9	%
SoftBank Group Corp.		872		8,310,343		0.9	%
Seino Holdings Co. Ltd		4,928		8,303,814		0.9	%
Bank of Kyoto Ltd/The		1,513		8,261,577		0.9	%
Konami Holdings Corp.		1,625		8,253,918		0.9	%
Asics Corp.		5,006		8,189,021		0.9	%
Oji Holdings Corp.		12,239		8,126,558		0.9	%
Isuzu Motors Ltd		5,023		8,117,032		0.9	%
Other		83,340		378,336,619		42.9	%

(2) The following table represents the 50 largest (long/short) basket holdings underlying the total return swap with JPQABACP as of November 30, 2018.

Security Description	Shares			Notional Amount as of 11/30/18			Percent of Basket’s Value
AC World Index		(17,893	)	$	(30,078,832	)		(105.4	)%
Royal Dutch Shell PLC		1,311			4,006,765			14.0	%
Chevron Corp.		15,110			1,798,055			6.3	%
Exxon Mobil Corp.		21,782			1,742,551			6.1	%
BP PLC		2,563			1,700,751			6.0	%
Total SA		30,528			1,693,710			5.9	%
EOG Resources, Inc.		12,994			1,338,395			4.7	%
PetroChina Co. Ltd		1,556,557			994,510			3.5	%
Glencore PLC		2,543			940,778			3.3	%
Repsol SA		51,006			866,275			3.0	%
Anadarko Petroleum Corp.		13,890			736,185			2.6	%
Mosaic Co/The		18,704			673,338			2.4	%
Vale SA		46,842			655,794			2.3	%
AgniCo. Eagle Mines Ltd		18,345			648,732			2.3	%

Security Description	Shares		Notional Amount as of 11/30/18		Percent of Basket’s Value
Alcoa Corp.		19,839	$	634,835		2.2	%
Boliden AB		25,651		574,955		2.0	%
Halliburton Co.		17,259		535,043		1.9	%
LUKOIL PJSC		6,682		494,461		1.7	%
JXTG Holdings, Inc.		68,590		414,377		1.5	%
Continental Resources, Inc./OK		9,006		414,288		1.5	%
First Quantum Minerals Ltd		45,675		412,388		1.4	%
Motor Oil Hellas Corinth Refin		18,206		412,269		1.4	%
C&J Energy Services, Inc.		22,722		386,274		1.4	%
Antofagasta PLC		372		380,075		1.3	%
MMC Norilsk Nickel PJSC		17,684		336,003		1.2	%
Rio Tinto PLC		72		325,729		1.1	%
SM Energy Co.		16,255		325,091		1.1	%
Yamato Kogyo Co. Ltd		11,391		297,732		1.0	%
Tupras Turkiye Petrol Rafineri		11,909		283,589		1.0	%
S-Oil Corp.		280,718		280,718		1.0	%
Concho Resources, Inc.		2,137		277,805		1.0	%
Origin Energy Ltd		62,770		275,029		1.0	%
Aker BP ASA		9,657		273,874		1.0	%
Norsk Hydro ASA		57,240		266,130		0.9	%
Newcrest Mining Ltd		14,897		228,456		0.8	%
Lundin Mining Corp.		49,272		222,431		0.8	%
Johnson Matthey PLC		59		220,591		0.8	%
Inpex Corp.		20,109		213,395		0.7	%
Sumitomo Metal Mining Co. Ltd		6,900		200,846		0.7	%
Sasol Ltd		68		200,494		0.7	%
Whiting Petroleum Corp.		6,437		193,122		0.7	%
Polyus PJSC		4,601		165,649		0.6	%
Syrah Resources Ltd		99,307		145,039		0.5	%
Incitec Pivot Ltd		48,722		142,316		0.5	%
OZ Minerals Ltd		21,352		140,328		0.5	%
Detour Gold Corp.		18,592		139,886		0.5	%
Cosan SA		15,288		134,148		0.5	%
Gran Tierra Energy, Inc.		44,356		133,492		0.5	%
Petroleo Brasileiro SA		9,895		128,629		0.5	%
APERAM SA		4,375		123,835		0.4	%
Other		130,202		702,714		3.5	%

(3) The following table represents the 50 largest (long/short) basket holdings underlying the total return swap with JPQABACP as of November 30, 2018.

Security Description	Shares			Notional Amount as of 11/30/18			Percent of Basket’s Value
AC World Index		(3,294	)	$	(5,537,827	)		(105.4	)%
Royal Dutch Shell PLC		241			737,687			14.0	%
Chevron Corp.		2,782			331,041			6.3	%
Exxon Mobil Corp.		4,010			320,822			6.1	%
BP PLC		472			313,126			6.0	%
Total SA		5,621			311,830			5.9	%
EOG Resources, Inc.		2,392			246,413			4.7	%
PetroChina Co. Ltd		286,578			183,100			3.5	%
Glencore PLC		468			173,207			3.3	%
Repsol SA		9,391			159,490			3.0	%

Security Description	Shares		Notional Amount as of 11/30/18		Percent of Basket’s Value
Anadarko Petroleum Corp.		2,557	$	135,539		2.6	%
Mosaic Co./The		3,444		123,969		2.4	%
Vale SA		8,624		120,738		2.3	%
AgniCo Eagle Mines Ltd		3,378		119,438		2.3	%
Alcoa Corp		3,652		116,880		2.2	%
Boliden AB		4,723		105,855		2.0	%
Halliburton Co.		3,178		98,507		1.9	%
LUKOIL PJSC		1,230		91,035		1.7	%
JXTG Holdings, Inc.		12,628		76,291		1.5	%
Continental Resources, Inc./OK		1,658		76,275		1.5	%
First Quantum Minerals Ltd		8,409		75,925		1.4	%
Motor Oil Hellas Corinth Refin		3,352		75,903		1.4	%
C&J Energy Services, Inc.		4,183		71,117		1.4	%
Antofagasta PLC		69		69,976		1.3	%
MMC Norilsk Nickel PJSC		3,256		61,862		1.2	%
Rio Tinto PLC		13		59,970		1.1	%
SM Energy Co.		2,993		59,853		1.1	%
Yamato Kogyo Co. Ltd		2,097		54,816		1.0	%
Tupras Turkiye Petrol Rafineri		2,193		52,212		1.0	%
S-Oil Corp.		51,683		51,683		1.0	%
Concho Resources, Inc.		393		51,147		1.0	%
Origin Energy Ltd		11,557		50,636		1.0	%
Aker BP ASA		1,778		50,423		1.0	%
Norsk Hydro ASA		10,538		48,997		0.9	%
Newcrest Mining Ltd		2,743		42,061		0.8	%
Lundin Mining Corp.		9,072		40,952		0.8	%
Johnson Matthey PLC		11		40,613		0.8	%
Inpex Corp.		3,702		39,288		0.7	%
Sumitomo Metal Mining Co. Ltd		1,270		36,978		0.7	%
Sasol Ltd		13		36,913		0.7	%
Whiting Petroleum Corp.		1,185		35,556		0.7	%
Polyus PJSC		847		30,498		0.6	%
Syrah Resources Ltd		18,284		26,703		0.5	%
Incitec Pivot Ltd		8,970		26,202		0.5	%
OZ Minerals Ltd		3,931		25,836		0.5	%
Detour Gold Corp.		3,423		25,754		0.5	%
Cosan SA		2,815		24,698		0.5	%
Gran Tierra Energy, Inc.		8,166		24,577		0.5	%
Petroleo Brasileiro SA		1,822		23,682		0.5	%
APERAM SA		805		22,799		0.4	%
Other		23,973		129,377		3.5	%

(4) The following table represents the 50 largest (short) equity basket holdings underlying the total return swap with GSABSJHB as of November 30, 2018.

Security Description	Shares			Notional Amount as of 11/30/18			Percent of Basket’s Value
Keihan Holdings Co. Ltd		(2,927	)	JPY	(13,873,510	)		(1.5	)%
Nissan Chemical Corp.		(2,227	)		(13,717,645	)		(1.5	)%
Asahi Intecc Co. Ltd		(2,490	)		(13,247,712	)		(1.5	)%
Bandai NamCo. Holdings, Inc.		(2,718	)		(12,966,821	)		(1.4	)%
Kyushu Railway Co.		(2,950	)		(11,061,009	)		(1.2	)%
Astellas Pharma, Inc.		(6,283	)		(10,957,166	)		(1.2	)%
Park24 Co. Ltd		(3,530	)		(10,818,501	)		(1.2	)%

Security Description	Shares			Notional Amount as of 11/30/18			Percent of Basket’s Value
Oriental Land Co. Ltd/Japan		(924	)	JPY	(10,436,724	)		(1.1	)%
Ezaki GliCo. Co. Ltd		(1,884	)		(10,416,923	)		(1.1	)%
Marubeni Corp.		(12,129	)		(10,285,558	)		(1.1	)%
Japan Post Insurance Co. Ltd		(3,579	)		(10,253,321	)		(1.1	)%
McDonald’s Holdings Co. Japan Ltd		(2,013	)		(10,247,199	)		(1.1	)%
Otsuka Holdings Co. Ltd		(1,813	)		(10,036,768	)		(1.1	)%
Azbil Corp.		(4,087	)		(10,013,386	)		(1.1	)%
West Japan Railway Co.		(1,212	)		(9,588,439	)		(1.1	)%
KDDI Corp.		(3,581	)		(9,539,200	)		(1.0	)%
MEIJI Holdings Co. Ltd		(1,053	)		(9,399,661	)		(1.0	)%
Fuji Media Holdings, Inc.		(5,296	)		(9,369,498	)		(1.0	)%
NTT DOCOMO, Inc.		(3,508	)		(9,217,979	)		(1.0	)%
Tobu Railway Co. Ltd		(2,747	)		(8,928,690	)		(1.0	)%
Japan Post Bank Co. Ltd		(6,694	)		(8,876,510	)		(1.0	)%
Makita Corp.		(1,984	)		(8,838,196	)		(1.0	)%
Yamaguchi Financial Group, Inc.		(7,502	)		(8,822,245	)		(1.0	)%
Hoshizaki Corp.		(1,000	)		(8,812,634	)		(1.0	)%
Rakuten, Inc.		(9,532	)		(8,712,457	)		(1.0	)%
Japan Airlines Co. Ltd		(2,125	)		(8,697,865	)		(1.0	)%
Nippon Telegraph & Telephone Corp.		(1,855	)		(8,682,970	)		(1.0	)%
SCSK Corp.		(1,910	)		(8,606,367	)		(0.9	)%
Nissan Motor Co. Ltd		(8,611	)		(8,559,522	)		(0.9	)%
Seria Co. Ltd		(1,771	)		(8,546,946	)		(0.9	)%
Ono Pharmaceutical Co. Ltd		(3,053	)		(8,384,112	)		(0.9	)%
ANA Holdings, Inc.		(2,069	)		(8,379,649	)		(0.9	)%
Aozora Bank Ltd		(2,223	)		(8,290,063	)		(0.9	)%
Toray Industries, Inc.		(9,123	)		(8,119,799	)		(0.9	)%
Rinnai Corp.		(991	)		(8,069,286	)		(0.9	)%
Nitori Holdings Co. Ltd		(526	)		(7,991,453	)		(0.9	)%
Zenkoku Hosho Co. Ltd		(2,042	)		(7,922,284	)		(0.9	)%
Teijin Ltd		(4,023	)		(7,884,377	)		(0.9	)%
Ryohin Keikaku Co. Ltd		(257	)		(7,844,097	)		(0.9	)%
Daito Trust Construction Co. Ltd		(529	)		(7,837,877	)		(0.9	)%
Canon, Inc.		(2,403	)		(7,737,319	)		(0.8	)%
Japan TobacCo., Inc.		(2,734	)		(7,720,630	)		(0.8	)%
Aeon Co. Ltd		(2,725	)		(7,414,432	)		(0.8	)%
Nihon M&A Center, Inc.		(2,737	)		(7,246,128	)		(0.8	)%
Sundrug Co. Ltd		(1,887	)		(7,227,653	)		(0.8	)%
Kansai Paint Co. Ltd		(3,364	)		(7,155,899	)		(0.8	)%
Shimamura Co. Ltd		(740	)		(7,136,590	)		(0.8	)%
Miura Co. Ltd		(2,278	)		(6,889,548	)		(0.8	)%
Nintendo Co. Ltd		(196	)		(6,775,740	)		(0.7	)%
Takeda Pharmaceutical Co. Ltd		(1,591	)		(6,768,105	)		(0.7	)%
Other		(166,837	)		(456,842,766	)		(50.1	)%

AB All Market Total Return Portfolio    

November 30, 2018 (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.

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

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.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2018:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Common Stocks:
Information Technology	$	61,851,706		$	9,727,802		$	– 0	– (a)	$	71,579,508
Health Care		50,224,230			8,650,535			– 0	–		58,874,765
Financials		29,951,652			21,781,442			– 0	–		51,733,094
Consumer Discretionary		43,489,596			6,795,513			– 0	–		50,285,109
Industrials		26417329			9306229			1,408			35,724,966
Communication Services		20,141,797			12,257,745			– 0	–		32,399,542
Consumer Staples		11,301,767			11,979,121			67,436			23,348,324
Energy		4,857,252			7,206,061			93,066	(a)		12,156,379
Materials		5,079,234			4,901,701			3,978			9,984,913
Real Estate		4,124,198			1,610,843			– 0	–		5,735,041
Utilities		1,612,941			2,608,794			– 0	–		4,221,735
Investment Companies		181,873,046			– 0	–		– 0	–		181,873,046
Corporates - Non-Investment Grade		– 0	–		48,017,102			387,922	(a)		48,405,024
Inflation-Linked Securities		– 0	–		12,658,144			– 0	–		12,658,144
Governments - Treasuries		– 0	–		12,352,215			– 0	–		12,352,215
Corporates - Investment Grade		– 0	–		9,539,927			– 0	– (a)		9,539,927
Collateralized Mortgage Obligations		– 0	–		7,336,367			239,212			7,575,579
Emerging Markets - Sovereigns		– 0	–		7,166,209			– 0	–		7,166,209
Emerging Markets - Corporate Bonds		– 0	–		6,593,961			52,858			6,646,819
Emerging Markets - Treasuries		– 0	–		4,713,533			– 0	–		4,713,533
Bank Loans		– 0	–		2,874,749			454,889			3,329,638
Options Purchased - Calls		– 0	–		1,399,446			– 0	–		1,399,446
Asset-Backed Securities		– 0	–		120,945			830,608			951,553
Commercial Mortgage-Backed Securities		– 0	–		– 0	–		747,043			747,043
Collateralized Loan Obligations		– 0	–		– 0	–		548,540			548,540
Options Purchased - Puts		– 0	–		262,256			– 0	–		262,256
Local Governments - Regional Bonds		– 0	–		260,952			– 0	–		260,952
Local Governments - US Municipal Bonds		– 0	–		223,839			– 0	–		223,839
Preferred Stocks		50,093			7,833			– 0	– (a)		57,926
Quasi-Sovereigns		– 0	–		37,682			– 0	–		37,682
Warrants		21,651			– 0	–		8,857			30,508
Mortgage Pass-Throughs		– 0	–		179			– 0	–		179
Short-Term Investments:
Governments - Treasuries		– 0	–		37,374,898			– 0	–		37,374,898
Investment Companies		18,224,753			– 0	–		– 0	–		18,224,753
U.S. Treasury Bills		– 0	–		9,961,542			– 0	–		9,961,542
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		4,703,922			– 0	–		– 0	–		4,703,922
Total Investments in Securities		463,925,167			257,727,565			3,435,817			725,088,549
Other Financial Instruments (b):
Assets:
Futures		1,710,713			1,844			– 0	–		1,712,557
Forward Currency Exchange Contracts		– 0	–		5,563,326			– 0	–		5,563,326
Centrally Cleared Credit Default Swaps		– 0	–		2,942,746			– 0	–		2,942,746
Total Return Swaps		– 0	–		402,346			– 0	–		402,346
Variance Swaps		– 0	–		1,650			– 0	–		1,650
Liabilities:
Futures		(3,865,493	)		(128,091	)		– 0	–		(3,993,584	)
Forward Currency Exchange Contracts		– 0	–		(4,471,056	)		– 0	–		(4,471,056	)
Call Options Written		– 0	–		(1,355,460	)		– 0	–		(1,355,460	)
Put Options Written		– 0	–		(389,737	)		– 0	–		(389,737	)
Currency Options Written		– 0	–		(152,994	)		– 0	–		(152,994	)
Credit Default Swaptions Written		– 0	–		(3,267	)		– 0	–		(3,267	)
Interest Rate Swaptions		– 0	–		(62,994	)		– 0	–		(62,994	)
Centrally Cleared Credit Default Swaps		– 0	–		(3,514,851	)		– 0	–		(3,514,851	)
Credit Default Swaps		– 0	–		(2,269,638	)		– 0	–		(2,269,638	)
Inflation (CPI) Swaps		– 0	–		(766,968	)		– 0	–		(766,968	)
Total Return Swaps		– 0	–		(4,909,249	)		– 0	–		(4,909,249	)
Variance Swaps		– 0	–		(9,098	)		– 0	–		(9,098	)
Total (c)	$	461,770,387		$	248,606,074		$	3,435,817		$	713,812,278

(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.

^(c)  There were de minimis transfers under 1% of net assets between Level 1 and Level 2 during the reporting period.

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

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

	Common Stocks (a)			Corporates - Non- Investment Grade (a)			Corporates - Investment Grade (a)
Balance as of 8/31/18	$	115,925		$	398,204		$	– 0	–
Accrued discounts/(premiums)		– 0	–		551			– 0	–
Realized gain (loss)		– 0	–		383			– 0	–
Change in unrealized appreciation/depreciation		(1,037	)		(103,448	)		– 0	–
Purchases/Payups		– 0	–		– 0	–		– 0	–
Sales/Paydowns		– 0	–		(8,454	)		– 0	–
Transfers in to Level 3		51,000			100,686			– 0	–
Transfers out of Level 3		– 0	–		– 0	–		– 0	–
Balance as of 11/30/18	$	165,888		$	387,922		$	– 0	–
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(1,037	)	$	(103,448	)	$	– 0	–
	Collateralized Mortgage Obligations			Emerging Markets - Corporate Bonds			Bank Loans
Balance as of 8/31/18	$	89,411		$	53,398		$	378,526
Accrued discounts/(premiums)		79			824			268
Realized gain (loss)		– 0	–		564			2
Change in unrealized appreciation/depreciation		(278	)		(1,138	)		(4,776	)
Purchases/Payups		150,000			– 0	–		255,188
Sales/Paydowns		– 0	–		(790	)		(540	)
Transfers in to Level 3		– 0	–		– 0	–		148,383
Transfers out of Level 3		– 0	–		– 0	–		(322,162	)
Balance as of 11/30/18	$	239,212		$	52,858		$	454,889
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(278	)	$	(1,138	)	$	(4,776	)

	Asset-Backed Securities			Commercial Mortgage-Backed Securities			Collateralized Loan Obligations
Balance as of 8/31/18	$	917,472		$	779,178		$	736,867
Accrued discounts/(premiums)		468			91			103
Realized gain (loss)		886			196			4,912
Change in unrealized appreciation/depreciation		(9,150	)		(4,091	)		(15,748	)
Purchases/Payups		– 0	–		– 0	–		– 0	–
Sales/Paydowns		(79,068	)		(28,331	)		(177,594	)
Transfers in to Level 3		– 0	–		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–		– 0	–
Balance as of 11/30/18	$	830,608		$	747,043		$	548,540
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(10,090	)	$	(3,895	)	$	(10,730	)
	Preferred Stocks (a)			Warrants			Total
Balance as of 8/31/18	$	– 0	–	$	8,723		$	3,477,704
Accrued discounts/(premiums)		– 0	–		– 0	–		2,384
Realized gain (loss)		– 0	–		– 0	–		6,943
Change in unrealized appreciation/depreciation		– 0	–		134			(139,532	)
Purchases/Payups		– 0	–		– 0	–		405,188
Sales/Paydowns		– 0	–		– 0	–		(294,777	)
Transfers in to Level 3		– 0	–		– 0	–		300,069
Transfers out of Level 3		– 0	–		– 0	–		(322,162	)
Balance as of 11/30/18	$	– 0	–	$	8,857		$	3,435,817	(b)
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	– 0	–	$	134		$	(135,258	)

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

(b) There were de minimis transfers under 1% of net assets during the reporting period.

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

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

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

A Summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2018 is as follows:

																	Distributions
Affiliated Issuer	Market Value 8/31/18 (000)		Purchases at Cost (000)			Sales Proceeds (000)			Realized Gain (Loss) (000)			Change in Unrealized Appr./(Depr.) (000)			Market Value 11/30/18 (000)		Dividend Income (000)			Realized Gains (000)
AB Cap Fund, Inc. - AB All Market Alternative Return Portfolio	$	125,226	$	– 0	–	$	– 0	–	$	– 0	–	$	(4,847	)	$	120,379	$	– 0	–	$	– 0	–
Government Money Market Portfolio		56,112		57,582			95,469			– 0	–		– 0	–		18,225		– 0	–		98
Government Money Market Portfolio*		8,545		11,017			14,858			– 0	–		– 0	–		4,704		38			– 0	–
Total	$	189,883	$	68,599		$	110,327		$	– 0	–	$	(4,847	)	$	143,308	$	38		$	98

* Investments of cash collateral for securities lending transactions

AB Conservative Wealth Strategy

Portfolio of Investments

November 30, 2018 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 34.3%
Information Technology - 6.9%
Communications Equipment - 0.2%
Cisco Systems, Inc.		1,775	$	84,969
F5 Networks, Inc. (a)		497		85,469
Juniper Networks, Inc.		2,980		85,556
Telefonaktiebolaget LM Ericsson-Class B		5,832		48,948
				304,942
Electronic Equipment, Instruments & Components - 0.6%
Amphenol Corp.-Class A		10,747		945,091
Avnet, Inc.		2,120		92,899
IPG Photonics Corp. (a)		907		128,930
				1,166,920
IT Services - 2.4%
Alliance Data Systems Corp.		420		84,151
Amadeus IT Group SA-Class A		2,933		210,502
Amdocs Ltd.		1,287		83,539
Booz Allen Hamilton Holding Corp.		5,326		273,277
Capgemini SE		1,645		192,072
CGI Group, Inc.-Class A (a)		640		40,944
Cognizant Technology Solutions Corp.-Class A		5,492		391,195
Fidelity National Information Services, Inc.		2,700		291,465
Mastercard, Inc.-Class A		7,390		1,485,908
Otsuka Corp.		4,800		162,201
Paychex, Inc.		4,890		346,016
Total System Services, Inc.		2,480		216,678
Visa, Inc.-Class A		4,982		705,999
				4,483,947
Semiconductors & Semiconductor Equipment - 0.5%
Intel Corp.		9,461		466,522
NXP Semiconductors NV		1,410		117,552
Taiwan Semiconductor Manufacturing Co., Ltd. (Sponsored ADR)		3,730		140,210
Texas Instruments, Inc.		2,132		212,880
				937,164
Software - 2.4%
Adobe, Inc. (a)		467		117,166
Check Point Software Technologies Ltd. (a)		2,290		256,045
Citrix Systems, Inc. (a)		860		93,714
Constellation Software, Inc./Canada		245		168,036
Dell Technologies, Inc.-Class V (a)		960		101,261
Fortinet, Inc. (a)		907		66,973
Intuit, Inc.		468		100,400
Microsoft Corp.		23,039		2,554,794
Nice Ltd. (a)		3,435		398,448
Oracle Corp.		6,486		316,257
Oracle Corp. Japan		3,300		214,540
SAP SE		1,296		134,235
Trend Micro, Inc./Japan		600		34,476
				4,556,345

Company	Shares		U.S. $ Value
Technology Hardware, Storage & Peripherals - 0.8%
Apple, Inc.		6,283	$	1,122,018
Samsung Electronics Co., Ltd.		9,418		352,903
				1,474,921
				12,924,239
Health Care - 5.7%
Biotechnology - 1.0%
AbbVie, Inc.		1,073		101,152
Amgen, Inc.		486		101,209
Biogen, Inc. (a)		154		51,393
Celgene Corp. (a)		10,447		754,482
CSL Ltd.		318		41,457
Gilead Sciences, Inc.		10,452		751,917
Grifols SA		1,557		43,792
United Therapeutics Corp. (a)		510		60,231
				1,905,633
Health Care Equipment & Supplies - 1.3%
Abbott Laboratories		21,015		1,556,161
Baxter International, Inc.		1,490		102,139
Coloplast A/S-Class B		520		49,647
Medtronic PLC		1,330		129,715
ResMed, Inc.		30		3,354
West Pharmaceutical Services, Inc.		5,213		571,136
				2,412,152
Health Care Providers & Services - 1.0%
Anthem, Inc.		4,144		1,202,050
Centene Corp. (a)		190		27,028
CVS Health Corp.		2,690		215,738
Humana, Inc.		309		101,806
Sinopharm Group Co., Ltd.-Class H		4,000		19,735
UnitedHealth Group, Inc.		1,020		286,987
WellCare Health Plans, Inc. (a)		310		79,013
				1,932,357
Life Sciences Tools & Services - 0.5%
IQVIA Holdings, Inc. (a)		7,788		974,045
Pharmaceuticals - 1.9%
Astellas Pharma, Inc.		8,900		137,147
Bausch Health Cos., Inc. (a)		1,680		40,829
Bristol-Myers Squibb Co.		2,640		141,134
Eli Lilly & Co.		268		31,796
GlaxoSmithKline PLC		7,140		148,012
H Lundbeck A/S		2,300		94,538
Johnson & Johnson		912		133,973
Merck & Co., Inc.		4,368		346,557
Novo Nordisk A/S-Class B		5,241		243,766
Pfizer, Inc.		9,477		438,122
Roche Holding AG		2,654		688,936
Sanofi		1,100		99,726

Company	Shares		U.S. $ Value
Zoetis, Inc.		9,757	$	915,890
				3,460,426
				10,684,613
Financials - 5.0%
Banks - 1.9%
Banco do Brasil SA		1,700		19,641
Bank Leumi Le-Israel BM		3,520		23,164
Bank of America Corp.		185		5,254
Bank of Communications Co., Ltd.-Class A		7,300		6,175
China CITIC Bank Corp., Ltd.		22,000		18,041
China Minsheng Banking Corp., Ltd.		20,400		17,984
Chongqing Rural Commercial Bank Co., Ltd.-Class H		34,000		19,955
Citigroup, Inc.		4,765		308,724
Comerica, Inc.		580		45,924
CTBC Financial Holding Co., Ltd.		29,000		19,319
DBS Group Holdings Ltd.		24,200		432,158
DNB ASA		7,645		131,342
Hang Seng Bank Ltd.		4,300		99,581
Industrial Bank of Korea		1,347		17,843
JPMorgan Chase & Co.		1,155		128,424
Jyske Bank A/S		11,340		445,527
Mitsubishi UFJ Financial Group, Inc.		20,300		111,070
PNC Financial Services Group, Inc. (The)		680		92,330
Royal Bank of Canada		3,490		255,896
Seven Bank Ltd.		30,900		95,956
Svenska Handelsbanken AB-Class A		4,530		49,949
Swedbank AB-Class A		2,210		51,412
Toronto-Dominion Bank (The)		5,368		297,197
Wells Fargo & Co.		14,131		767,031
Westpac Banking Corp.		4,460		84,942
				3,544,839
Capital Markets - 1.8%
BlackRock, Inc.-Class A		390		166,924
Charles Schwab Corp. (The)		29,200		1,308,160
China Cinda Asset Management Co., Ltd.-Class H		77,000		20,735
China Huarong Asset Management Co., Ltd. (b)		104,000		21,470
Intercontinental Exchange, Inc.		2,510		205,117
Julius Baer Group Ltd. (a)		13,325		537,462
London Stock Exchange Group PLC		2,529		130,340
Moody’s Corp.		1,550		246,559
Morgan Stanley		1,903		84,474
Partners Group Holding AG		209		137,379
S&P Global, Inc.		610		111,545
Singapore Exchange Ltd.		80,900		433,246
Yuanta Financial Holding Co., Ltd.		48,000		24,549
				3,427,960
Consumer Finance - 0.1%
Ally Financial, Inc.		3,380		90,179
Discover Financial Services		184		13,119
				103,298

Company	Shares		U.S. $ Value
Diversified Financial Services - 0.2%
Berkshire Hathaway, Inc.-Class B (a)		105	$	22,915
Chailease Holding Co., Ltd.		7,000		21,988
Cielo SA		61,000		150,158
Fubon Financial Holding Co., Ltd.		12,000		19,072
Pargesa Holding SA		1,510		104,686
Voya Financial, Inc.		1,950		87,652
				406,471
Insurance - 1.0%
Admiral Group PLC		3,600		95,800
Aflac, Inc.		550		25,157
Arthur J Gallagher & Co.		3,350		258,184
China Life Insurance Co., Ltd./Taiwan		20,000		19,020
CNP Assurances		2,120		48,568
Direct Line Insurance Group PLC		16,230		68,003
Everest Re Group Ltd.		420		93,274
Fidelity National Financial, Inc.		9,700		325,920
Hyundai Marine & Fire Insurance Co., Ltd.		510		18,215
Japan Post Holdings Co., Ltd.		3,000		36,529
Lincoln National Corp.		1,460		91,936
Marsh & McLennan Cos., Inc.		1,140		101,118
NN Group NV		5,170		220,510
People’s Insurance Co. Group of China Ltd. (The)-Class H		46,000		19,938
Progressive Corp. (The)		1,382		91,613
Prudential Financial, Inc.		1,022		95,823
Reinsurance Group of America, Inc.-Class A		600		89,628
Shin Kong Financial Holding Co., Ltd.		58,000		19,775
Swiss Re AG		1,460		133,561
				1,852,572
				9,335,140
Consumer Discretionary - 4.8%
Auto Components - 0.4%
Aptiv PLC		11,340		815,346
Diversified Consumer Services - 0.6%
H&R Block, Inc.		3,230		87,242
Service Corp. International/US		16,674		770,339
Sotheby’s (a)		5,352		214,027
				1,071,608
Hotels, Restaurants & Leisure - 1.2%
Aristocrat Leisure Ltd.		10,990		191,036
Compass Group PLC		13,708		293,968
Flight Centre Travel Group Ltd.		774		27,733
Las Vegas Sands Corp.		4,860		267,008
McDonald’s Corp.		1,040		196,050
Starbucks Corp.		20,253		1,351,281
				2,327,076
Household Durables - 0.1%
Auto Trader Group PLC (b)		18,120		101,536
Toll Brothers, Inc.		840		27,695
				129,231

Company	Shares		U.S. $ Value
Internet & Direct Marketing Retail - 0.7%
Amazon.com, Inc. (a)		128	$	216,342
Booking Holdings, Inc. (a)		582		1,101,074
				1,317,416
Leisure Products - 0.1%
Amer Sports Oyj (a)		2,410		90,403
Sankyo Co., Ltd.		900		36,051
				126,454
Multiline Retail - 0.1%
Dollar General Corp.		1,230		136,518
Next PLC		950		59,318
				195,836
Specialty Retail - 1.3%
AutoZone, Inc. (a)		294		237,867
Best Buy Co., Inc.		1,270		82,029
Hennes & Mauritz AB-Class B		2,830		52,157
Home Depot, Inc. (The)		1,826		329,264
Ross Stores, Inc.		3,590		314,484
TJX Cos., Inc. (The)		6,632		323,973
Ulta Salon Cosmetics & Fragrance, Inc. (a)		3,766		1,121,477
				2,461,251
Textiles, Apparel & Luxury Goods - 0.3%
Michael Kors Holdings Ltd. (a)		1,560		68,250
Moncler SpA		880		28,824
Pandora A/S		760		41,052
Samsonite International SA (a)(b)		112,800		341,697
				479,823
				8,924,041
Industrials - 3.5%
Aerospace & Defense - 0.6%
Arconic, Inc.		2,730		58,641
BAE Systems PLC		17,400		109,383
Boeing Co. (The)		1,231		426,861
Harris Corp.		540		77,193
Huntington Ingalls Industries, Inc.		400		86,200
Raytheon Co.		1,907		334,373
				1,092,651
Air Freight & Logistics - 0.1%
CH Robinson Worldwide, Inc.		1,011		93,346
Airlines - 0.1%
Qantas Airways Ltd.		37,653		164,599
Building Products - 0.5%
Allegion PLC		10,581		969,114
Commercial Services & Supplies - 0.3%
Republic Services, Inc.-Class A		1,160		89,714
Secom Co., Ltd.		5,300		448,838

Company	Shares		U.S. $ Value
Toppan Printing Co., Ltd.		2,200	$	35,430
				573,982
Construction & Engineering - 0.0%
China State Construction Engineering Corp., Ltd.		24,000		20,028
Electrical Equipment - 0.0%
Emerson Electric Co.		150		10,128
Industrial Conglomerates - 0.0%
CITIC Ltd.		14,000		22,537
Machinery - 0.6%
Dover Corp.		6,930		588,288
Kone Oyj-Class B		5,870		291,168
Mitsubishi Heavy Industries Ltd.		1,000		38,066
Pentair PLC		2,134		91,122
Stanley Black & Decker, Inc.		1,086		142,103
				1,150,747
Professional Services - 1.0%
Experian PLC		5,650		137,834
RELX PLC (a)		28,071		584,419
Verisk Analytics, Inc.-Class A (a)		8,010		987,793
Wolters Kluwer NV		3,280		198,296
				1,908,342
Road & Rail - 0.2%
ALD SA (b)		8,602		113,354
Central Japan Railway Co.		200		41,182
ComfortDelGro Corp., Ltd.		11,800		18,124
CSX Corp.		1,460		106,040
DSV A/S		128		9,803
				288,503
Transportation Infrastructure - 0.1%
Flughafen Zurich AG		910		148,943
				6,442,920
Communication Services - 3.1%
Diversified Telecommunication Services - 0.5%
China Communications Services Corp., Ltd.-Class H		20,000		16,751
HKT Trust & HKT Ltd.-Class SS		244,000		353,432
Nippon Telegraph & Telephone Corp.		6,700		276,382
Telenor ASA		860		16,682
Verizon Communications, Inc.		2,670		161,001
				824,248
Entertainment - 0.1%
Daiichikosho Co., Ltd.		1,800		82,338
Live Nation Entertainment, Inc. (a)		1,630		90,758
				173,096
Interactive Media & Services - 1.5%
Alphabet, Inc.-Class A (a)		101		112,075
Alphabet, Inc.-Class C (a)		1,732		1,895,552

Company	Shares		U.S. $ Value
Facebook, Inc.-Class A (a)		5,860	$	823,975
				2,831,602
Media - 0.5%
Comcast Corp.-Class A		5,837		227,701
Interpublic Group of Cos., Inc. (The)		3,750		88,125
Naspers Ltd.-Class N		2,360		470,473
Omnicom Group, Inc.		1,350		103,910
Sirius XM Holdings, Inc. (c)		13,083		81,507
				971,716
Wireless Telecommunication Services - 0.5%
China Mobile Ltd.		22,500		224,285
DiGi.Com Bhd		18,400		18,674
Globe Telecom, Inc.		480		18,039
KDDI Corp.		18,600		437,039
SoftBank Group Corp.		3,600		303,911
				1,001,948
				5,802,610
Consumer Staples - 2.3%
Beverages - 0.4%
Ambev SA		24,900		109,068
Diageo PLC		3,898		140,770
PepsiCo, Inc.		2,121		258,635
Wuliangye Yibin Co., Ltd.-Class A		15,200		115,555
				624,028
Food & Staples Retailing - 0.5%
Dairy Farm International Holdings Ltd.		2,100		18,521
J Sainsbury PLC		15,655		61,004
Koninklijke Ahold Delhaize NV		9,690		249,713
Kroger Co. (The)		3,065		90,908
President Chain Store Corp.		2,000		20,704
Sysco Corp.		2,030		136,822
Walgreens Boots Alliance, Inc.		1,300		110,071
Walmart, Inc.		2,640		257,796
				945,539
Food Products - 0.5%
Archer-Daniels-Midland Co.		1,928		88,727
Danone SA		1,829		136,563
Hershey Co. (The)		2,923		316,561
Kellogg Co.		1,360		86,564
Nestle Malaysia Bhd		700		24,992
Salmar ASA		4,840		273,726
Uni-President Enterprises Corp.		10,000		23,526
Wilmar International Ltd.		8,500		18,865
				969,524
Household Products - 0.2%
Kimberly-Clark Corp.		96		11,076
Procter & Gamble Co. (The)		3,130		295,816
				306,892

Company	Shares		U.S. $ Value
Personal Products - 0.3%
L’Oreal SA		2,012	$	474,761
Unilever PLC		2,090		113,266
				588,027
Tobacco - 0.4%
Altria Group, Inc.		1,844		101,106
British American Tobacco PLC		6,029		211,086
Imperial Brands PLC		5,040		155,354
Philip Morris International, Inc.		3,081		266,599
Swedish Match AB		1,004		39,239
				773,384
				4,207,394
Energy - 1.1%
Energy Equipment & Services - 0.0%
TechnipFMC PLC		2,185		50,452
Oil, Gas & Consumable Fuels - 1.1%
Chevron Corp.		850		101,099
ConocoPhillips		197		13,037
Equinor ASA		7,150		167,488
Exxon Mobil Corp.		1,457		115,832
Formosa Petrochemical Corp.		5,000		18,174
Husky Energy, Inc.		2,535		31,481
LUKOIL PJSC (Sponsored ADR)		3,234		236,729
Marathon Petroleum Corp.		920		59,947
Phillips 66		592		55,364
Repsol SA		7,720		132,987
Royal Dutch Shell PLC-Class B		22,546		690,431
Suncor Energy, Inc.		1,121		36,145
TOTAL SA		5,167		287,387
Valero Energy Corp.		739		59,046
				2,005,147
				2,055,599
Materials - 0.9%
Chemicals - 0.8%
BASF SE		5,842		427,208
Covestro AG (b)		1,593		92,271
Ecolab, Inc.		3,674		589,640
LyondellBasell Industries NV-Class A		2,853		266,214
Methanex Corp.		511		28,314
Mitsubishi Chemical Holdings Corp.		4,400		36,095
Nan Ya Plastics Corp.		2,000		4,840
Petronas Chemicals Group Bhd		8,500		18,713
Sinopec Shanghai Petrochemical Co., Ltd.		24,700		17,897
Sinopec Shanghai Petrochemical Co., Ltd.-Class H		34,000		15,503
Sumitomo Chemical Co., Ltd.		6,800		37,017
				1,533,712
Containers & Packaging - 0.0%
Smurfit Kappa Group PLC		1,202		32,492
Metals & Mining - 0.1%
Anglo American PLC		3,112		62,690

Company	Shares		U.S. $ Value
BHP Billiton Ltd.		2,050	$	45,550
				108,240
Paper & Forest Products - 0.0%
Mondi PLC		4,252		93,110
				1,767,554
Real Estate - 0.6%
Equity Real Estate Investment Trusts (REITs) - 0.3%
Host Hotels & Resorts, Inc.		4,620		87,780
Kimco Realty Corp.		5,360		87,636
Lamar Advertising Co.-Class A		1,110		84,182
Nippon Building Fund, Inc.		16		99,718
Simon Property Group, Inc.		549		101,944
Weyerhaeuser Co.		2,724		71,941
				533,201
Real Estate Management & Development - 0.3%
CBRE Group, Inc.-Class A (a)		7,174		313,361
Vonovia SE		3,930		191,069
				504,430
				1,037,631
Utilities - 0.4%
Electric Utilities - 0.1%
CLP Holdings Ltd.		2,000		22,078
EDP - Energias de Portugal SA		10,327		36,091
Endesa SA		2,280		50,939
Manila Electric Co.		2,740		20,128
NextEra Energy, Inc.		242		43,974
Red Electrica Corp. SA		2,410		52,020
				225,230
Independent Power and Renewable Electricity Producers - 0.1%
AES Corp./VA		5,970		92,475
Multi-Utilities - 0.1%
Ameren Corp.		1,730		118,713
Centrica PLC		31,498		55,489
				174,202
Water Utilities - 0.1%
Guangdong Investment Ltd.		140,000		270,619
				762,526
Total Common Stocks (cost $59,431,315)				63,944,267
INVESTMENT COMPANIES - 32.0%
Funds and Investment Trusts - 32.0% (d)
AB All Market Real Return Portfolio-Class Z (e)		2,931,984		24,540,706
AB Cap Fund, Inc. - AB All Market Alternative Return Portfolio-Class ADV (a)(e)		2,111,527		15,730,880
AB High Income Fund, Inc.-Class Z (e)		2,326,831		18,614,645
VanEck Vectors JP Morgan EM Local Currency Bond ETF-Class E		26,015		857,194
Total Investment Companies (cost $64,331,406)				59,743,425

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - TREASURIES - 8.9%
Australia - 0.1%
Australia Government Bond
Series 142
4.25%, 4/21/26 (b)	AUD	192	$	157,289
Belgium - 0.4%
Kingdom of Belgium Government Bond
Series 71
3.75%, 6/22/45 (b)	EUR	80		130,376
Series 72
2.60%, 6/22/24 (b)		262		337,094
Series 81
0.80%, 6/22/27 (b)		202		231,782
				699,252
Canada - 1.2%
Canadian Government Bond
1.75%, 3/01/23	CAD	2,794		2,063,752
2.00%, 6/01/28		297		218,282
				2,282,034
Chile - 0.2%
Bonos de la Tesoreria de la Republica en pesos
4.50%, 3/01/26	CLP	210,000		314,895
France - 1.1%
French Republic Government Bond OAT
0.50%, 5/25/26 (b)	EUR	745		854,927
1.00%, 5/25/27 (b)		528		623,706
1.75%, 6/25/39 (b)		240		291,087
2.25%, 10/25/22 (b)		313		389,637
				2,159,357
Germany - 0.7%
Bundesrepublik Deutschland Bundesanleihe
0.50%, 2/15/28 (b)		270		312,759
2.50%, 7/04/44-8/15/46 (b)		474		737,580
Series 3
4.75%, 7/04/34 (b)		102		186,463
				1,236,802
Ireland - 0.2%
Ireland Government Bond
1.00%, 5/15/26 (b)		339		395,483
Italy - 0.8%
Italy Buoni Poliennali Del Tesoro
1.35%, 4/15/22		110		122,608
1.85%, 5/15/24		95		104,014

	Principal Amount (000)		U.S. $ Value
2.05%, 8/01/27	EUR	121	$	126,987
2.20%, 6/01/27		960		1,022,662
5.50%, 11/01/22 (b)		108		137,844
				1,514,115
Japan - 0.2%
Japan Government Twenty Year Bond
Series 112
2.10%, 6/20/29	JPY	14,450		153,702
Series 143
1.60%, 3/20/33		27,400		284,580
				438,282
Malaysia - 0.3%
Malaysia Government Bond
Series 0313
3.48%, 3/15/23	MYR	460		108,044
Series 3/04
5.734%, 7/30/19		839		203,468
Series 414
3.654%, 10/31/19		777		185,978
				497,490
Netherlands - 0.1%
Netherlands Government Bond
0.50%, 7/15/26 (b)	EUR	86		99,901
Poland - 0.1%
Republic of Poland Government Bond
Series 725
3.25%, 7/25/25	PLN	496		135,312
Singapore - 0.2%
Singapore Government Bond
2.75%, 3/01/46	SGD	330		238,374
3.375%, 9/01/33		73		57,755
				296,129
Spain - 0.7%
Spain Government Bond
1.95%, 4/30/26 (b)	EUR	882		1,058,912
2.35%, 7/30/33 (b)		265		312,142
				1,371,054
United Kingdom - 0.1%
United Kingdom Gilt
1.50%, 7/22/47 (b)	GBP	176		196,466
United States - 2.5%
U.S. Treasury Bonds
2.50%, 2/15/46	$	1,442		1,230,548
5.375%, 2/15/31		651		803,578
U.S. Treasury Notes
1.50%, 8/15/26		1,275		1,147,898
1.875%, 7/31/22 (f)		1,402		1,354,489

	Principal Amount (000)		U.S. $ Value
2.125%, 5/15/25	$	184	$	175,690
				4,712,203
Uruguay - 0.0%
Uruguay Government International Bond
8.50%, 3/15/28 (b)	UYU	1,317		34,784
Total Governments - Treasuries (cost $16,934,177)				16,540,848
CORPORATES - INVESTMENT GRADE - 5.7%
Financial Institutions - 2.9%
Banking - 2.1%
Banco Santander SA
3.25%, 4/04/26 (b)	EUR	100		114,884
Bank of America Corp.
2.375%, 6/19/24 (b)		100		120,704
4.20%, 8/26/24	$	111		109,827
Bank of Nova Scotia (The)
4.375%, 1/13/21		31		31,655
Barclays Bank PLC
6.625%, 3/30/22 (b)	EUR	83		105,426
Barclays PLC
3.684%, 1/10/23	$	200		190,926
Citigroup, Inc.
0.75%, 10/26/23 (b)	EUR	104		115,465
Compass Bank
5.50%, 4/01/20	$	147		149,799
Cooperatieve Rabobank UA
4.375%, 8/04/25		250		244,435
Credit Agricole Corporate & Investment Bank SA
3.023% (LIBOR 3 Month + 0.63%), 10/03/21 (g)		173		172,171
Danske Bank A/S
0.875%, 5/22/23 (b)	EUR	160		174,776
Fifth Third Bancorp
2.30%, 3/01/19	$	64		63,898
Goldman Sachs Group, Inc. (The)
2.00%, 7/27/23 (b)	EUR	98		114,167
3.307%, 10/31/25	CAD	145		104,897
Lloyds Banking Group PLC
4.375%, 3/22/28	$	265		248,051
Mitsubishi UFJ Financial Group, Inc.
0.872%, 9/07/24 (b)	EUR	100		111,470
Morgan Stanley
3.00%, 2/07/24	CAD	145		105,362
Series G
1.375%, 10/27/26	EUR	111		121,543
1.75%, 3/11/24		100		115,775
Rabobank Capital Funding Trust IV
5.556%, 12/31/19 (b)(h)	GBP	36		47,220
Santander Holdings USA, Inc.
4.40%, 7/13/27	$	118		109,745
Skandinaviska Enskilda Banken AB
2.45%, 5/27/20 (b)		200		197,032

	Principal Amount (000)		U.S. $ Value
Standard Chartered PLC
4.247%, 1/20/23 (b)	$	200	$	197,754
UBS Group Funding Switzerland AG
1.50%, 11/30/24 (b)	EUR	200		227,588
UniCredit SpA
3.75%, 4/12/22 (b)	$	200		187,656
US Bancorp
0.85%, 6/07/24	EUR	103		115,819
Series J
5.30%, 4/15/27 (h)	$	46		44,432
Wells Fargo & Co.
1.375%, 6/30/22 (b)	GBP	170		210,579
				3,853,056
Brokerage - 0.1%
SURA Asset Management SA
4.875%, 4/17/24 (b)(c)	$	107		104,860
Finance - 0.0%
Synchrony Financial
4.50%, 7/23/25		93		84,962
Insurance - 0.5%
Aviva PLC
3.375%, 12/04/45 (b)	EUR	100		109,277
Berkshire Hathaway, Inc.
1.125%, 3/16/27		140		156,541
Chubb INA Holdings, Inc.
1.55%, 3/15/28		100		111,553
Halfmoon Parent, Inc.
3.75%, 7/15/23 (b)	$	52		51,276
4.125%, 11/15/25 (b)		62		61,239
Massachusetts Mutual Life Insurance Co.
8.875%, 6/01/39 (b)		21		31,357
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
6.25%, 5/26/42 (b)	EUR	100		131,639
Nationwide Mutual Insurance Co.
9.375%, 8/15/39 (b)	$	41		60,217
Prudential Financial, Inc.
5.625%, 6/15/43		98		98,718
Swiss Re America Holding Corp.
7.00%, 2/15/26		77		89,348
UnitedHealth Group, Inc.
4.75%, 7/15/45		40		41,296
				942,461
REITS - 0.2%
American Tower Corp.
5.05%, 9/01/20		163		166,842
Healthcare Trust of America Holdings LP
3.375%, 7/15/21		47		46,407

	Principal Amount (000)		U.S. $ Value
Welltower, Inc.
4.00%, 6/01/25	$	171	$	166,544
				379,793
				5,365,132
Industrial - 2.6%
Basic - 0.3%
DowDuPont, Inc.
4.205%, 11/15/23		100		100,842
Glencore Finance Europe Ltd.
1.875%, 9/13/23 (b)	EUR	100		113,240
Glencore Funding LLC
4.00%, 3/27/27 (b)	$	62		56,540
4.125%, 5/30/23 (b)		15		14,794
SABIC Capital II BV
4.00%, 10/10/23 (b)		200		197,794
Yamana Gold, Inc.
4.95%, 7/15/24		58		56,286
				539,496
Capital Goods - 0.2%
Molex Electronic Technologies LLC
2.878%, 4/15/20 (b)		230		227,084
United Technologies Corp.
1.15%, 5/18/24	EUR	115		129,004
Wabtec Corp.
4.15%, 3/15/24	$	37		35,665
				391,753
Communications - Media - 0.4%
CBS Corp.
5.50%, 5/15/33		40		41,568
Charter Communications Operating LLC/Charter Communications Operating Capital
3.579%, 7/23/20		81		80,622
4.908%, 7/23/25		78		77,536
Comcast Corp.
4.60%, 8/15/45		45		43,191
Cox Communications, Inc.
2.95%, 6/30/23 (b)		55		52,417
RELX Capital, Inc.
8.625%, 1/15/19		125		125,746
Time Warner Cable LLC
8.75%, 2/14/19		135		136,384
Warner Media LLC
3.55%, 6/01/24		115		110,480
				667,944
Communications - Telecommunications - 0.0%
Bell Canada, Inc.
4.70%, 9/11/23	CAD	52		41,064
Rogers Communications, Inc.
4.00%, 6/06/22		66		50,559
				91,623

	Principal Amount (000)		U.S. $ Value
Consumer Cyclical - Automotive - 0.1%
General Motors Co.
5.15%, 4/01/38	$	60	$	51,410
General Motors Financial Co., Inc.
3.70%, 5/09/23		25		23,658
Harley-Davidson Financial Services, Inc.
3.146% (LIBOR 3 Month + 0.50%), 5/21/20 (b)(g)		115		115,079
Volkswagen Leasing GmbH
2.625%, 1/15/24 (b)	EUR	60		70,502
				260,649
Consumer Cyclical - Entertainment - 0.1%
Carnival Corp.
1.625%, 2/22/21		242		281,749
Consumer Non-Cyclical - 0.5%
BAT Capital Corp.
3.222%, 8/15/24	$	120		110,998
Celgene Corp.
2.75%, 2/15/23		85		80,510
3.25%, 2/20/23		70		67,607
CVS Health Corp.
4.30%, 3/25/28		90		87,468
Reynolds American, Inc.
4.45%, 6/12/25		72		69,982
6.875%, 5/01/20		97		100,926
Takeda Pharmaceutical Co., Ltd.
1.125%, 11/21/22 (b)	EUR	155		176,290
4.40%, 11/26/23 (b)	$	200		201,584
Tyson Foods, Inc.
4.55%, 6/02/47		45		39,598
				934,963
Energy - 0.3%
Hess Corp.
4.30%, 4/01/27		78		71,290
Kinder Morgan Energy Partners LP
2.65%, 2/01/19		15		14,975
Marathon Petroleum Corp.
4.75%, 12/15/23-9/15/44		155		152,638
Occidental Petroleum Corp.
4.20%, 3/15/48		45		41,563
Plains All American Pipeline LP/PAA Finance Corp.
3.60%, 11/01/24		103		96,407
Williams Cos., Inc. (The)
3.90%, 1/15/25		78		75,186
4.50%, 11/15/23		35		35,103
				487,162
Services - 0.1%
Equifax, Inc.
3.30%, 12/15/22		160		155,130

	Principal Amount (000)		U.S. $ Value
Technology - 0.5%
Apple, Inc.
2.513%, 8/19/24	CAD	120	$	86,626
4.65%, 2/23/46	$	40		40,743
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.625%, 1/15/24		31		29,306
3.875%, 1/15/27		33		29,720
Fidelity National Information Services, Inc.
0.40%, 1/15/21	EUR	135		153,090
KLA-Tencor Corp.
4.125%, 11/01/21	$	145		146,192
4.65%, 11/01/24		91		92,444
Seagate HDD Cayman
4.75%, 1/01/25		72		66,265
Tencent Holdings Ltd.
3.375%, 5/02/19 (b)		200		199,991
				844,377
Transportation - Services - 0.1%
Penske Truck Leasing Co. Lp/PTL Finance Corp.
3.375%, 2/01/22 (b)		146		143,460
				4,798,306
Utility - 0.2%
Electric - 0.1%
Exelon Corp.
5.15%, 12/01/20		32		32,632
Iberdrola Finanzas SA
7.375%, 1/29/24	GBP	50		79,359
TECO Finance, Inc.
5.15%, 3/15/20	$	56		56,941
				168,932
Other Utility - 0.1%
Severn Trent Utilities Finance PLC
3.625%, 1/16/26 (b)	GBP	150		203,076
Yorkshire Water Finance PLC
6.588%, 2/21/23		80		121,440
				324,516
				493,448
Total Corporates - Investment Grade (cost $11,002,530)				10,656,886
INFLATION-LINKED SECURITIES - 5.0%
Japan - 4.3%
Japanese Government CPI Linked Bond
Series 21
0.10%, 3/10/26	JPY	147		1,348,381
Series 22
0.10%, 3/10/27		611		5,605,563
Series 23

	Principal Amount (000)		U.S. $ Value
0.10%, 3/10/28	JPY	120,575	$	1,108,018
				8,061,962
New Zealand - 0.1%
New Zealand Government Inflation Linked Bond
Series 925
2.00%, 9/20/25 (b)	NZD	195		141,250
United States - 0.6%
U.S. Treasury Inflation Index
0.125%, 4/15/21-7/15/26	$	1,092		1,053,519
Total Inflation-Linked Securities (cost $9,488,425)				9,256,731
MORTGAGE PASS-THROUGHS - 2.8%
Agency Fixed Rate 30-Year - 2.7%
Federal Home Loan Mortgage Corp. Gold
Series 2007
5.50%, 7/01/35		33		35,170
Series 2018
4.50%, 11/01/48		243		250,005
Federal National Mortgage Association
Series 2003
5.50%, 4/01/33		26		28,328
Series 2004
5.50%, 4/01/34-5/01/34		25		27,039
Series 2005
5.50%, 2/01/35		19		20,048
Series 2018
4.00%, 12/13/48, TBA		330		331,856
3.50%, 3/01/48-4/01/48		1,156		1,135,321
4.00%, 8/01/48-9/01/48		702		706,936
4.50%, 9/01/48		906		935,972
4.50%, 12/13/48, TBA		931		957,184
5.00%, 12/13/48, TBA		485		507,356
				4,935,215
Other Agency Fixed Rate Programs - 0.1%
Canadian Mortgage Pools
6.125%, 12/01/24	CAD	300		257,589
Agency ARMs - 0.0%
Federal Home Loan Mortgage Corp.
Series 2011
4.165% (LIBOR 12 Month + 1.76%), 5/01/38 (g)	$	40		41,626
Federal National Mortgage Association
Series 2003
3.655% (LIBOR 12 Month + 1.81%), 12/01/33 (g)		25		26,147
				67,773
Total Mortgage Pass-Throughs (cost $5,283,962)				5,260,577

	Principal Amount (000)		U.S. $ Value
COVERED BONDS - 1.3%
Banco de Sabadell SA
0.875%, 11/12/21 (b)	EUR	100	$	115,676
Bank of Montreal
0.75%, 9/21/22 (b)		170		196,489
Canadian Imperial Bank of Commerce
Zero Coupon, 7/25/22 (b)		177		199,085
Credit Suisse AG/Guernsey
0.75%, 9/17/21 (b)		110		127,088
1.75%, 1/15/21 (b)		166		195,168
Danske Bank A/S
0.125%, 2/14/22 (b)		100		113,271
1.25%, 6/11/21 (b)		100		116,856
DNB Boligkreditt AS
2.75%, 3/21/22 (b)		160		196,842
3.875%, 6/16/21 (b)		147		182,861
Nationwide Building Society
4.375%, 2/28/22 (b)		150		192,862
Santander UK PLC
1.625%, 11/26/20 (b)		156		182,416
Stadshypotek AB
0.625%, 11/10/21 (b)		305		351,551
UBS AG/London
1.375%, 4/16/21 (b)		169		197,964
4.00%, 4/08/22 (b)		84		107,471
Total Covered Bonds (cost $2,409,760)				2,475,600
COLLATERALIZED MORTGAGE OBLIGATIONS - 1.0%
Risk Share Floating Rate - 1.0%
Bellemeade Re Ltd.
Series 2018-2A, Class M1B
3.665% (LIBOR 1 Month + 1.35%), 8/25/28 (b)(g)	$	150		150,674
Eagle RE Ltd.
Series 2018-1, Class M1
3.879% (LIBOR 1 Month + 1.70%), 11/25/28 (b)(g)(i)		175		174,644
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2014-DN1, Class M2
4.515% (LIBOR 1 Month + 2.20%), 2/25/24 (g)		161		164,704
Series 2015-DN1, Class M3
6.465% (LIBOR 1 Month + 4.15%), 1/25/25 (g)		394		419,890
Series 2015-DNA2, Class M2
4.915% (LIBOR 1 Month + 2.60%), 12/25/27 (g)		82		83,505
Series 2016-DNA2, Class M2
4.515% (LIBOR 1 Month + 2.20%), 10/25/28 (g)		116		116,539
Series 2017-DNA2, Class M1

	Principal Amount (000)			U.S. $ Value
3.515% (LIBOR 1 Month + 1.20%), 10/25/29 (g)	$	227		$	227,787
Federal National Mortgage Association Connecticut Avenue Securities
Series 2013-C01, Class M1
4.315% (LIBOR 1 Month + 2.00%), 10/25/23 (g)		0	**		42
Series 2014-C01, Class M1
3.915% (LIBOR 1 Month + 1.60%), 1/25/24 (g)		22			22,241
Series 2014-C04, Class 2M2
7.315% (LIBOR 1 Month + 5.00%), 11/25/24 (g)		113			125,989
Series 2016-C01, Class 1M1
4.265% (LIBOR 1 Month + 1.95%), 8/25/28 (g)		13			13,194
Series 2016-C02, Class 1M1
4.465% (LIBOR 1 Month + 2.15%), 9/25/28 (g)		19			19,273
Series 2016-C03, Class 1M1
4.315% (LIBOR 1 Month + 2.00%), 10/25/28 (g)		31			31,118
Series 2016-C03, Class 2M1
4.515% (LIBOR 1 Month + 2.20%), 10/25/28 (g)		1			640
Series 2016-C04, Class 1M1
3.765% (LIBOR 1 Month + 1.45%), 1/25/29 (g)		40			40,568
Series 2016-C05, Class 2M1
3.665% (LIBOR 1 Month + 1.35%), 1/25/29 (g)		18			17,685
Series 2016-C06, Class 1M1
3.615% (LIBOR 1 Month + 1.30%), 4/25/29 (g)		173			173,816
Series 2016-C07, Class 2M1
3.615% (LIBOR 1 Month + 1.30%), 5/25/29 (g)		19			19,493
Series 2017-C02, Class 2M1
3.465% (LIBOR 1 Month + 1.15%), 9/25/29 (g)		67			67,377
					1,869,179
Agency Fixed Rate - 0.0%
Federal National Mortgage Association Grantor Trust
Series 2004-T5, Class AB4
3.01%, 5/28/35 (i)		33			30,326
Non-Agency Fixed Rate - 0.0%
Citigroup Mortgage Loan Trust, Inc.
Series 2005-2, Class 1A4
3.898%, 5/25/35		30			30,226
Total Collateralized Mortgage Obligations (cost $1,923,833)					1,929,731

	Principal Amount (000)		U.S. $ Value
AGENCIES - 0.8%
Agency Debentures - 0.7%
Residual Funding Corp. Principal Strip Zero Coupon, 7/15/20	$	1,471	$	1,404,143
Agency Subordinated - 0.1%
Federal National Mortgage Association Zero Coupon, 10/09/19		180		175,757
Total Agencies (cost $1,602,463)				1,579,900
COMMERCIAL MORTGAGE-BACKED SECURITIES - 0.7%
Non-Agency Floating Rate CMBS - 0.6%
Ashford Hospitality Trust
Series 2018-ASHF, Class A
3.207% (LIBOR 1 Month + 0.90%), 4/15/35 (b)(g)		177		176,220
Series 2018-KEYS, Class A
3.307% (LIBOR 1 Month + 1.00%), 5/15/35 (b)(g)		100		100,000
BHMS
Series 2018-ATLS, Class A
3.557% (LIBOR 1 Month + 1.25%), 7/15/35 (b)(g)		140		139,651
Braemar Hotels & Resorts Trust
Series 2018-PRME, Class A
3.127% (LIBOR 1 Month + 0.82%), 6/15/35 (b)(g)		100		99,754
Invitation Homes Trust
Series 2018-SFR4, Class A
3.35% (LIBOR 1 Month + 1.10%), 1/17/38 (b)(g)		175		175,108
MSCG Trust
Series 2018-SELF, Class A
3.207% (LIBOR 1 Month + 0.90%), 10/15/37 (b)(g)		150		149,577
Natixis Commercial Mortgage Securities Trust
Series 2018-850T, Class A
3.09% (LIBOR 1 Month + 0.78%), 7/15/33 (b)(g)		110		109,402
RETL
Series 2018-RVP, Class A
3.407% (LIBOR 1 Month + 1.10%), 3/15/33 (b)(g)		89		89,088
Starwood Retail Property Trust
Series 2014-STAR, Class A
3.527% (LIBOR 1 Month + 1.22%), 11/15/27 (b)(g)		130		129,953
				1,168,753
Non-Agency Fixed Rate CMBS - 0.1%
GS Mortgage Securities Trust
Series 2013-G1, Class A1
2.059%, 4/10/31 (b)		69		67,319

	Principal Amount (000)		U.S. $ Value
Series 2013-G1, Class A2
3.557%, 4/10/31 (b)	$	134	$	132,107
LSTAR Commercial Mortgage Trust
Series 2014-2, Class A2
2.767%, 1/20/41 (b)		1		1,022
				200,448
Total Commercial Mortgage-Backed Securities (cost $1,370,318)				1,369,201
COLLATERALIZED LOAN OBLIGATIONS - 0.5%
CLO - Floating Rate - 0.5%
Halcyon Loan Advisors Funding Ltd.
Series 2018-1A, Class A2
4.183% (LIBOR 3 Month + 1.80%), 7/21/31 (b)(g)(i)		250		248,292
Marble Point CLO XI Ltd.
Series 2017-2A, Class A
3.625% (LIBOR 3 Month + 1.18%), 12/18/30 (b)(g)(i)		250		249,366
Neuberger Berman Loan Advisers CLO Ltd.
Series 2018-29A, Class B1
4.136% (LIBOR 3 Month + 1.70%), 10/19/31 (b)(g)(i)		250		249,971
Rockford Tower CLO Ltd.
Series 2017-3A, Class A
3.659% (LIBOR 3 Month + 1.19%), 10/20/30 (b)(g)(i)		250		249,491
Total Collateralized Loan Obligations (cost $1,000,000)				997,120
ASSET-BACKED SECURITIES - 0.5%
Autos - Fixed Rate - 0.3%
Avis Budget Rental Car Funding AESOP LLC
Series 2018-2A, Class C
4.95%, 3/20/25 (b)		120		121,272
DT Auto Owner Trust
Series 2018-1A, Class A
2.59%, 5/17/21 (b)		14		13,833
Flagship Credit Auto Trust
Series 2018-3, Class D
4.15%, 12/16/24 (b)		78		77,928
Hertz Vehicle Financing II LP
Series 2017-1A, Class A
2.96%, 10/25/21 (b)		140		137,949
Series 2016-1A, Class A
2.32%, 3/25/20 (b)		166		165,598
				516,580
Other ABS - Fixed Rate - 0.2%
SBA Tower Trust
Series 2014-1A, Class C

	Principal Amount (000)		U.S. $ Value
2.898%, 10/15/44 (b)(i)	$	104	$	103,588
Series 2014-2A, Class C
3.869%, 10/15/49 (b)(i)		85		84,137
SoFi Consumer Loan Program LLC
Series 2017-2, Class A
3.28%, 2/25/26 (b)(i)		63		62,693
SoFi Consumer Loan Program Trust
Series 2018-1, Class B
3.65%, 2/25/27 (b)(i)		115		113,352
				363,770
Home Equity Loans - Floating Rate - 0.0%
ABFC Trust
Series 2003-WF1, Class A2
3.44% (LIBOR 1 Month + 1.13%), 12/25/32 (g)(i)		13		12,689
Total Asset-Backed Securities (cost $894,833)				893,039
GOVERNMENTS - SOVEREIGN BONDS - 0.3%
Qatar - 0.2%
Qatar Government International Bond
3.875%, 4/23/23 (b)		200		200,500
5.25%, 1/20/20 (b)		100		101,975
				302,475
Saudi Arabia - 0.1%
Saudi Government International Bond
2.875%, 3/04/23 (b)		200		191,100
Total Governments - Sovereign Bonds (cost $500,027)				493,575
SUPRANATIONALS - 0.2%
Supranational - 0.2%
European Financial Stability Facility 0.125%, 10/17/23 (b)
(cost $363,932)	EUR	311		351,654
GOVERNMENTS - SOVEREIGN AGENCIES - 0.1%
Canada - 0.1%
Canada Housing Trust No. 1 1.90%, 9/25/26 (b) (cost $265,625)		311		259,759
LOCAL GOVERNMENTS - US MUNICIPAL BONDS - 0.1%
United States - 0.1%
State of California
Series 2010 7.625%, 3/01/40 (cost $237,629)	$	165		232,533

	Principal Amount (000)		U.S. $ Value
QUASI-SOVEREIGNS - 0.1%
Quasi-Sovereign Bonds - 0.1%
China - 0.1%
State Grid Overseas Investment 2016 Ltd. 2.25%, 5/04/20 (b) (cost $199,842)	$	200	$	196,656
	Notional Amount
OPTIONS PURCHASED - PUTS - 0.1%
Options on Forward Contracts - 0.0%
AUD/USD
Expiration: Jun 2019; Contracts: 1,529,000; Exercise Price: AUD 1.45;
Counterparty: Morgan Stanley Capital Services LLC (a)		AUD    1,529,000		10,416
BRL/USD
Expiration: Feb 2019; Contracts: 2,100,000; Exercise Price: BRL 3.75;
Counterparty: Morgan Stanley Capital Services LLC (a)		BRL     2,100,000		7,260
CNH/USD
Expiration: Jan 2019; Contracts: 16,873,400; Exercise Price: CNH 7.06;
Counterparty: JPMorgan Chase Bank, NA (a)		CNH  16,873,400		9,614
				27,290
Options on Indices - 0.1%
S&P 500 Index
Expiration: Jan 2019; Contracts: 3,000; Exercise Price: USD 2,800.00;
Counterparty: Credit Suisse International (a)		USD            3,000		137,221
Total Options Purchased - Puts (premiums paid $154,832)				164,511
	Principal Amount (000)
CORPORATES - NON-INVESTMENT GRADE - 0.1%
Industrial - 0.1%
Energy - 0.1%
EnLink Midstream Partners LP 4.15%, 6/01/25 (cost $142,964)	$	144		130,503
LOCAL GOVERNMENTS - PROVINCIAL BONDS - 0.1%
Canada - 0.1%
Province of Quebec Canada 2.75%, 9/01/27 (cost $113,448)		CAD               141		104,570

	Notional Amount		U.S. $ Value
OPTIONS PURCHASED - CALLS - 0.1%
Options on Forward Contracts - 0.1%
CNH/USD
Expiration: Jan 2019; Contracts: 15,768,480; Exercise Price: CNH 7.04;
Counterparty: Citibank, NA (a)	CNH	15,768,480	$	13,733
GBP/USD
Expiration: Jan 2019; Contracts: 887,000; Exercise Price: GBP 0.76;
Counterparty: Citibank, NA (a)	GBP	887,000		6,323
GBP/USD
Expiration: Dec 2018; Contracts: 865,000; Exercise Price: GBP 0.76;
Counterparty: Morgan Stanley Capital Services LLC (a)	GBP	865,000		3,432
TRY/USD
Expiration: Jan 2019; Contracts: 2,658,800; Exercise Price: TRY 5.78;
Counterparty: Barclays Bank PLC (a)	TRY	2,658,800		40,537
TRY/EUR
Expiration: Jan 2019; Contracts: 2,597,490; Exercise Price: TRY 6.51;
Counterparty: JPMorgan Chase Bank, NA (a)	TRY	2,597,490		35,153
Total Options Purchased - Calls (premiums paid $46,788)				99,178
	Shares
SHORT-TERM INVESTMENTS - 4.9%
Investment Companies - 4.9%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio-Class AB, 2.13% (d)(e)(j) (cost $9,124,791)		9,124,791		9,124,791
Total Investments Before Security Lending Collateral for Securities Loaned - 99.6% (cost $186,822,900)				185,805,055
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 0.1%
INVESTMENT COMPANIES - 0.1%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio-Class AB, 2.13% (d)(e)(j) (cost $185,790)		185,790		185,790
Total Investments - 99.7% (cost $187,008,690) (k)			$	185,990,845
Other assets less liabilities - 0.3%				526,915
Net Assets - 100.0%			$	186,517,760

FUTURES

Description	Number of Contracts		Expiration Month		Notional (000)			Original Value		Value at November 30, 2018		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr Australian Bond Futures		15		December 2018	AUD	1,500		$	1,422,535	$	1,423,299	$	764
10 Yr Canadian Bond Futures		22		March 2019	CAD	2,200			2,191,839		2,207,037		15,198
10 Yr Japan Bond (OSE) Futures		18		December 2018	JPY	1,800,000			23,833,079		23,970,929		137,850
Euro Buxl 30 Yr Bond Futures		12		December 2018	EUR	1,200			2,398,616		2,426,317		27,701
Euro-BOBL Futures		6		March 2019	EUR	600			897,921		898,118		197
Euro-Schatz Futures		8		March 2019	EUR	800			1,013,419		1,013,456		37
Long Gilt Futures		25		March 2019	GBP	2,500			3,894,455		3,906,852		12,397
Mini MSCI Emerging Markets Futures		76		December 2018	USD	4			3,968,007		3,798,480		(169,527	)
Russell 2000 Mini Futures		27		December 2018	USD	1			2,307,731		2,071,710		(236,021	)
S&P Mid 400 E-Mini Futures		11		December 2018	USD	1			2,237,542		2,067,450		(170,092	)
U.S. 10 Yr Ultra Futures		20		March 2019	USD	2,000			2,520,301		2,530,000		9,699
U.S. T-Note 2 Yr (CBT) Futures		21		March 2019	USD	4,200			4,429,385		4,430,672		1,287
U.S. T-Note 5 Yr (CBT) Futures		48		March 2019	USD	4,800			5,416,561		5,422,125		5,564
U.S. T-Note 10 Yr (CBT) Futures		71		March 2019	USD	7,100			8,463,637		8,481,172		17,535
U.S. Ultra Bond (CBT) Futures		39		March 2019	USD	3,900			5,969,191		5,943,844		(25,347	)
Sold Contracts
10 Yr Mini Japan Government Bond Futures		22		December 2018	JPY	220,000			2,908,930		2,930,943		(22,013	)
Canadian 10 Yr Bond Futures		8		March 2019	CAD	800			797,008		802,559		(5,551	)
Euro STOXX 50 Futures		2		December 2018	EUR	– 0	–***		70,288		71,617		(1,329	)
Euro-BOBL Futures		20		March 2019	EUR	2,000			2,992,798		2,993,726		(928	)
Euro-Bund Futures		12		December 2018	EUR	1,200			2,165,570		2,194,554		(28,984	)
S&P 500 E-Mini Futures		156		December 2018	USD	8			22,167,096		21,514,740		652,356
SPI 200 Futures		2		December 2018	AUD	– 0	–***		205,300		207,356		(2,056	)
												$	218,737

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Australia and New Zealand Banking Group Ltd.	CNY	11,067	USD	1,598		12/13/18	$	5,661
Australia and New Zealand Banking Group Ltd.	USD	689	CNY	4,761		12/13/18		(3,753	)
Australia and New Zealand Banking Group Ltd.	USD	474	JPY	53,021		12/13/18		(6,863	)
Bank of America, NA	KRW	635,843	USD	565		2/20/19		(4,284	)
Bank of America, NA	RUB	20,966	USD	313		12/14/18		503
Bank of America, NA	RUB	15,189	USD	224		12/14/18		(2,052	)
Bank of America, NA	USD	1,068	CNY	7,404		12/13/18		(2,477	)
Bank of America, NA	USD	231	RUB	15,595		12/14/18		963
Bank of America, NA	USD	594	JPY	67,272		12/13/18		(1,267	)
Bank of America, NA	USD	224	COP	724,954		12/20/18		134
Barclays Bank PLC	INR	107,837	USD	1,511		12/13/18		(34,014	)
Barclays Bank PLC	TWD	17,524	USD	568		12/11/18		(276	)
Barclays Bank PLC	TWD	14,195	USD	461		12/11/18		822

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC	CNY	1,098	USD	158		1/23/19	$	395
Barclays Bank PLC	TRY	1,088	USD	176		1/15/19		(27,963	)
Barclays Bank PLC	CAD	1,044	USD	800		12/14/18		13,653
Barclays Bank PLC	MYR	474	USD	113		2/26/19		(695	)
Barclays Bank PLC	USD	345	CNY	2,388		12/13/18		(1,421	)
Barclays Bank PLC	USD	819	INR	60,504		12/13/18		48,313
Barclays Bank PLC	USD	1,174	TWD	36,201		12/11/18		(828	)
Barclays Bank PLC	USD	270	INR	18,803		12/13/18		(731	)
Barclays Bank PLC	USD	347	KRW	390,078		2/20/19		2,382
BNP Paribas SA	COP	2,199,424	USD	700		12/20/18		20,667
BNP Paribas SA	CNY	11,367	USD	1,642		12/13/18		6,763
BNP Paribas SA	TWD	4,439	USD	144		12/11/18		140
BNP Paribas SA	USD	199	CAD	258		12/14/18		(4,823	)
BNP Paribas SA	USD	575	EUR	498		1/09/19		(9,582	)
BNP Paribas SA	USD	999	JPY	112,553		12/13/18		(7,046	)
Citibank, NA	INR	8,690	USD	118		12/13/18		(6,447	)
Citibank, NA	UYU	2,332	USD	71		12/04/18		(1,350	)
Citibank, NA	UYU	1,166	USD	35		1/22/19		(777	)
Citibank, NA	EUR	963	USD	1,124		12/14/18		33,462
Citibank, NA	BRL	1,694	USD	438		12/04/18		420
Citibank, NA	USD	461	BRL	1,694		12/04/18		(22,730	)
Citibank, NA	USD	574	EUR	498		1/09/19		(8,152	)
Citibank, NA	USD	72	UYU	2,332		12/04/18		347
Citibank, NA	USD	280	CNY	1,939		12/13/18		(680	)
Citibank, NA	USD	281	CNY	1,959		12/13/18		1,008
Citibank, NA	USD	526	CNY	3,652		1/23/19		(1,937	)
Citibank, NA	USD	271	INR	18,909		12/13/18		(57	)
Citibank, NA	USD	260	JPY	29,328		12/13/18		(1,726	)
Citibank, NA	USD	647	CLP	438,551		12/20/18		5,873
Credit Suisse International	EUR	497	USD	570		1/09/19		5,501
Credit Suisse International	USD	703	EUR	599		12/14/18		(24,871	)
Credit Suisse International	USD	245	INR	17,010		12/13/18		(1,510	)
Goldman Sachs Bank USA	CAD	4,596	USD	3,479		1/17/19		15,260
Goldman Sachs Bank USA	BRL	934	USD	240		12/04/18		(1,243	)
Goldman Sachs Bank USA	NZD	778	USD	502		12/07/18		(32,892	)
Goldman Sachs Bank USA	BRL	796	USD	206		12/04/18		197
Goldman Sachs Bank USA	USD	454	BRL	1,730		12/04/18		(6,684	)
Goldman Sachs Bank USA	USD	223	BRL	839		12/13/18		(6,464	)
Goldman Sachs Bank USA	USD	627	AUD	870		12/07/18		8,672
Goldman Sachs Bank USA	USD	289	RUB	20,516		12/14/18		16,970
Goldman Sachs Bank USA	USD	987	INR	68,669		12/13/18		(3,248	)
HSBC Bank USA	INR	18,530	USD	254		12/13/18		(11,660	)
HSBC Bank USA	MXN	11,566	USD	606		12/05/18		37,827
HSBC Bank USA	CNY	2,396	USD	345		12/13/18		529
HSBC Bank USA	USD	448	KRW	500,991		2/20/19		310
JPMorgan Chase Bank, NA	NOK	4,326	USD	505		1/23/19		321
JPMorgan Chase Bank, NA	GBP	1,928	USD	2,545		12/14/18		85,844
JPMorgan Chase Bank, NA	CHF	752	USD	750		1/17/19		(6,545	)
JPMorgan Chase Bank, NA	EUR	503	USD	570		1/09/19		(1,430	)
JPMorgan Chase Bank, NA	USD	774	GBP	602		12/14/18		(7,306	)
JPMorgan Chase Bank, NA	USD	275	TWD	8,429		12/11/18		(1,237	)
Morgan Stanley Capital Services, Inc.	JPY	634,557	USD	5,730		12/14/18		135,118
Morgan Stanley Capital Services, Inc.	BRL	1,765	USD	454		12/04/18		(2,605	)
Morgan Stanley Capital Services, Inc.	AUD	1,765	USD	1,252		12/07/18		(38,111	)
Morgan Stanley Capital Services, Inc.	GBP	1,285	USD	1,679		12/14/18		40,606
Morgan Stanley Capital Services, Inc.	BRL	1,493	USD	391		12/04/18		5,405
Morgan Stanley Capital Services, Inc.	AUD	750	USD	535		12/14/18		(13,858	)
Morgan Stanley Capital Services, Inc.	CAD	689	USD	519		1/17/19		323
Morgan Stanley Capital Services, Inc.	USD	399	GBP	305		12/14/18		(11,094	)
Morgan Stanley Capital Services, Inc.	USD	846	BRL	3,258		12/04/18		(3,918	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Morgan Stanley Capital Services, Inc.	USD	514	AUD	696		6/28/19	$	(3,325	)
Morgan Stanley Capital Services, Inc.	USD	453	BRL	1,765		1/03/19		2,757
Morgan Stanley Capital Services, Inc.	USD	737	NOK	6,237		1/23/19		(9,684	)
Morgan Stanley Capital Services, Inc.	USD	238	INR	17,278		12/13/18		9,999
Morgan Stanley Capital Services, Inc.	USD	565	JPY	63,424		12/13/18		(6,001	)
Natwest Markets PLC	INR	51,079	USD	696		12/13/18		(36,393	)
Natwest Markets PLC	TWD	7,345	USD	240		12/11/18		1,539
Natwest Markets PLC	USD	1,080	INR	78,752		12/13/18		48,267
Natwest Markets PLC	USD	568	SEK	5,117		1/23/19		(3,420	)
Natwest Markets PLC	USD	250	TWD	7,604		3/14/19		(1,022	)
Natwest Markets PLC	USD	587	TWD	17,923		12/11/18		(5,803	)
Natwest Markets PLC	USD	597	JPY	67,321		12/13/18		(3,827	)
Natwest Markets PLC	USD	224	KRW	251,353		2/20/19		1,356
Natwest Markets PLC	USD	338	KRW	377,772		2/20/19		(326	)
Natwest Markets PLC	USD	248	COP	778,611		12/20/18		(7,080	)
Standard Chartered Bank	JPY	616,178	USD	5,453		12/13/18		21,363
Standard Chartered Bank	INR	18,985	USD	254		12/13/18		(17,603	)
Standard Chartered Bank	TWD	26,635	USD	870		12/11/18		6,365
Standard Chartered Bank	USD	223	CNY	1,553		12/13/18		(38	)
Standard Chartered Bank	USD	496	INR	36,564		12/13/18		27,474
Standard Chartered Bank	USD	236	KRW	263,522		2/20/19		(543	)
State Street Bank & Trust Co.	JPY	269,936	USD	2,395		12/13/18		15,078
State Street Bank & Trust Co.	JPY	67,826	USD	597		12/13/18		(492	)
State Street Bank & Trust Co.	JPY	32,147	USD	286		12/14/18		2,094
State Street Bank & Trust Co.	MXN	24,827	USD	1,261		12/05/18		41,231
State Street Bank & Trust Co.	TRY	3,221	USD	611		12/12/18		(3,740	)
State Street Bank & Trust Co.	ZAR	1,871	USD	121		12/13/18		(13,592	)
State Street Bank & Trust Co.	PLN	1,019	USD	276		1/18/19		6,659
State Street Bank & Trust Co.	AUD	1,455	USD	1,039		12/07/18		(24,490	)
State Street Bank & Trust Co.	CAD	1,568	USD	1,185		1/17/19		3,440
State Street Bank & Trust Co.	NZD	1,284	USD	841		12/07/18		(41,875	)
State Street Bank & Trust Co.	SGD	478	USD	347		1/24/19		(1,282	)
State Street Bank & Trust Co.	CAD	401	USD	307		12/14/18		5,425
State Street Bank & Trust Co.	ILS	364	USD	98		1/30/19		(348	)
State Street Bank & Trust Co.	CHF	1,045	USD	1,048		1/17/19		(2,890	)
State Street Bank & Trust Co.	AUD	504	USD	372		6/28/19		2,711
State Street Bank & Trust Co.	GBP	459	USD	605		12/14/18		19,919
State Street Bank & Trust Co.	CAD	297	USD	223		12/20/18		(241	)
State Street Bank & Trust Co.	CAD	296	USD	222		1/17/19		(962	)
State Street Bank & Trust Co.	EUR	254	USD	289		12/13/18		861
State Street Bank & Trust Co.	CHF	474	USD	479		1/17/19		2,076
State Street Bank & Trust Co.	EUR	1,896	USD	2,177		1/09/19		24,812

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.	CHF	351	USD	359		12/14/18	$	7,406
State Street Bank & Trust Co.	AUD	193	USD	138		6/28/19		(3,632	)
State Street Bank & Trust Co.	CHF	66	USD	66		1/09/19		145
State Street Bank & Trust Co.	EUR	51	USD	57		1/09/19		(114	)
State Street Bank & Trust Co.	USD	395	CHF	388		1/17/19		(4,121	)
State Street Bank & Trust Co.	USD	3,089	EUR	2,679		1/09/19		(46,508	)
State Street Bank & Trust Co.	USD	366	CHF	351		12/14/18		(14,781	)
State Street Bank & Trust Co.	USD	1,490	AUD	2,069		12/07/18		22,455
State Street Bank & Trust Co.	USD	197	EUR	168		12/14/18		(6,904	)
State Street Bank & Trust Co.	USD	1,482	NZD	2,210		12/07/18		36,717
State Street Bank & Trust Co.	USD	2,614	GBP	2,010		12/14/18		(50,575	)
State Street Bank & Trust Co.	EUR	200	GBP	175		12/14/18		(2,561	)
State Street Bank & Trust Co.	USD	542	AUD	751		12/14/18		6,907
State Street Bank & Trust Co.	USD	226	NZD	329		1/09/19		445
State Street Bank & Trust Co.	CHF	338	EUR	297		1/09/19		(1,881	)
State Street Bank & Trust Co.	USD	574	CAD	744		12/14/18		(13,769	)
State Street Bank & Trust Co.	USD	79	TRY	411		12/12/18		(758	)
State Street Bank & Trust Co.	USD	333	CAD	444		12/14/18		536
State Street Bank & Trust Co.	USD	325	TRY	1,789		12/12/18		16,559
State Street Bank & Trust Co.	USD	482	CAD	641		1/17/19		1,053
State Street Bank & Trust Co.	USD	1,041	EUR	918		1/09/19		2,749
State Street Bank & Trust Co.	USD	717	MYR	3,005		2/26/19		1,609
State Street Bank & Trust Co.	USD	220	TRY	1,380		1/15/19		38,594
State Street Bank & Trust Co.	USD	112	ZAR	1,550		1/30/19		(705	)
State Street Bank & Trust Co.	USD	115	ZAR	1,670		12/13/18		5,607
State Street Bank & Trust Co.	NOK	1,919	EUR	199		1/23/19		2,753
State Street Bank & Trust Co.	USD	1,163	SEK	10,479		1/23/19		(6,584	)
State Street Bank & Trust Co.	SEK	2,038	CHF	224		1/17/19		450
State Street Bank & Trust Co.	USD	558	MXN	11,291		12/05/18		(3,022	)
State Street Bank & Trust Co.	USD	733	NOK	6,232		1/23/19		(6,110	)
State Street Bank & Trust Co.	SEK	3,046	EUR	295		1/23/19		(653	)
State Street Bank & Trust Co.	USD	524	ZAR	7,328		1/30/19		1,377
State Street Bank & Trust Co.	USD	2,433	JPY	272,546		12/13/18		(30,623	)
State Street Bank & Trust Co.	USD	171	JPY	19,497		12/13/18		387

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.	JPY	79,164	AUD	982		12/07/18	$	20,174
State Street Bank & Trust Co.	USD	229	JPY	25,760		12/07/18		(1,568	)
State Street Bank & Trust Co.	JPY	34,042	EUR	264		12/13/18		(1,007	)
State Street Bank & Trust Co.	USD	442	JPY	48,981		12/14/18		(10,387	)
UBS AG	JPY	76,075	USD	670		12/13/18		(358	)
UBS AG	JPY	62,741	USD	560		12/13/18		6,718
UBS AG	EUR	13,121	USD	15,180		1/09/19		270,922
UBS AG	CNY	2,398	USD	345		12/13/18		97
UBS AG	USD	428	EUR	364		12/14/18		(15,595	)
UBS AG	USD	593	JPY	66,276		12/13/18		(8,647	)
							$	439,028

CALL OPTIONS WRITTEN

Description	Counterparty	Contracts		Exercise Price		Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index (l)	Citibank, NA		380	EUR	3,100.00		December 2018	EUR	– 0	–***	$	32,443	$	(40,051	)
FTSE 100 Index (l)	Citibank, NA		70	GBP	7,100.00		December 2018	GBP	– 0	–***		10,054		(4,781	)
Nikkei 225 Index (l)	Goldman Sachs International		3,000	JPY	21,625.00		December 2018	JPY	3			18,579		(23,058	)
S&P 500 Index (l)	Goldman Sachs International		300	USD	2,690.00		December 2018	USD	– 0	–***		12,106		(28,338	)
S&P 500 Index (l)	Goldman Sachs International		1,300	USD	2,690.00		December 2018	USD	1			55,381		(122,799	)
S&P 500 Index (l)	Credit Suisse International		3,000	USD	2,900.00		January 2019	USD	3			31,950		(37,639	)
											$	160,513	$	(256,666	)

PUT OPTIONS WRITTEN

Description	Counterparty	Contracts		Exercise Price		Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index (l)	Citibank, NA		380	EUR	3,100.00		December 2018	EUR	– 0	–***	$	21,629	$	(12,943	)
FTSE 100 Index (l)	Citibank, NA		70	GBP	7,100.00		December 2018	GBP	– 0	–***		13,954		(15,394	)
Nikkei 225 Index (l)	Goldman Sachs International		3,000	JPY	21,625.00		December 2018	JPY	3			21,192		(3,696	)
S&P 500 Index (l)	Goldman Sachs International		300	USD	2,690.00		December 2018	USD	– 0	–***		24,843		(7,406	)
S&P 500 Index (l)	Goldman Sachs International		1,300	USD	2,690.00		December 2018	USD	1			93,301		(32,094	)
											$	174,919	$	(71,533	)

CURRENCY OPTIONS WRITTEN

Description/ Counterparty	Exercise Price			Expiration Month		Contracts		Notional Amount (000)			Premiums Received		U.S. $ Value
Call
AUD vs. USD/ Morgan Stanley Capital Services LLC (l)		AUD	1.280		06/2019		1,529,000		AUD	1,529	$	15,874	$	(7,488	)
Put
BRL vs. USD/ Morgan Stanley Capital Services LLC (l)		BRL	4.100		02/2019		2,296,000		BRL	2,296		7,242		(7,223	)
TRY vs. EUR/ JPMorgan Chase Bank, NA (l)		TRY	7.510		01/2019		2,996,000		TRY	2,996		7,685		(519	)
TRY vs. USD/ Goldman Sachs Bank USA (l)		TRY	7.000		12/2018		4,200,000		TRY	4,200		6,168		(51	)
TRY vs. USD/ JPMorgan Chase Bank, NA (l)		TRY	7.380		12/2018		4,428,000		TRY	4,428		14,316		(370	)
TRY vs. USD/ Barclays Bank PLC (l)		TRY	6.900		01/2019		3,174,000		TRY	3,174		10,290		(482	)
											$	61,575	$	(16,133	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018		Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Buy Contracts
CDX-NAHY Series 28, 5 Year Index, 6/20/22*		(5.00	)		Quarterly		3.13	USD	1,356	$	(94,021	)	$	(74,019	)	$	(20,002	)
CDX-NAHY Series 29, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.40	USD	1,450		(96,410	)		(62,796	)		(33,614	)
CDX-NAHY Series 31, 5 Year Index, 12/20/23*		(5.00	)		Quarterly		3.93	USD	3,920		(214,049	)		(181,961	)		(32,088	)
iTraxxx Australia Series 30, 5 Year Index, 12/20/23*		(1.00	)		Quarterly		0.86	USD	1,200		(9,892	)		(13,054	)		3,162
iTraxxx Xover Series 28, 5 Year Index, 12/20/22*		(5.00	)		Quarterly		3.02	EUR	1,105		(105,260	)		(116,638	)		11,378

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
CDX-NAIG Series 28, 5 Year Index, 6/20/22*		1.00	%		Quarterly		0.57	%		USD	15,820	$	258,574		$	227,159		$	31,415
CDX-NAIG Series 31, 5 Year Index, 12/20/23*		1.00			Quarterly		0.76			USD	1,200		15,967			21,252			(5,285	)
iTraxxx Europe Series 27, 5 Year Index, 6/20/22*		1.00			Quarterly		0.49			EUR	6,710		152,334			127,477			24,857
iTraxxx Europe Series 29, 5 Year Index, 6/20/23*		1.00			Quarterly		0.71			EUR	240		4,136			5,727			(1,591	)
												$	(88,621	)	$	(66,853	)	$	(21,768	)

* Termination date

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	1,010		9/10/48		2.980	%		3 Month LIBOR		Quarterly/Semi-Annual	$	32,539		$	– 0	–	$	32,539
USD	2,220		9/10/23		3 Month LIBOR			2.883	%	Quarterly/Semi-Annual		(6,856	)		– 0	–		(6,856	)
USD	5,350		9/10/20		3 Month LIBOR			2.824	%	Semi-Annual/Annual		(8,713	)		– 0	–		(8,713	)
											$	16,970		$	– 0	–	$	16,970

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Credit Suisse International
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00	%		Monthly		2.93	%	USD	1,529	$	(48,027	)	$	(29,607	)	$	(18,420	)
Deutsche Bank AG
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	370		(11,622	)		(15,489	)		3,867
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	53		(1,665	)		(511	)		(1,154	)
Goldman Sachs International
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	56		(1,759	)		(411	)		(1,348	)
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	55		(1,727	)		(340	)		(1,387	)
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	111		(3,487	)		(644	)		(2,843	)
Morgan Stanley & Co. International PLC
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00			Monthly		2.93		USD	6		(188	)		(114	)		(74	)
											$	(68,475	)	$	(47,116	)	$	(21,359	)

* Termination date

INFLATION (CPI) SWAPS

					Rate Type
Swap Counterparty	Notional Amount (000)		Termination Date		Payments made by the Fund			Payments received by the Fund			Payment Frequency Paid/Received		Unrealized Appreciation/ (Depreciation)
Bank of America, NA	USD	6,116		7/31/21		2.230	%		CPI	#		Maturity	$	(61,826	)
Bank of America, NA	USD	3,994		7/31/21		2.230	%		CPI	#		Maturity		(40,375	)
Barclays Bank PLC	USD	23,020		7/18/22		1.937	%		CPI	#		Maturity		204,037
Goldman Sachs International	USD	1,230		1/18/23		2.206	%		CPI	#		Maturity		(6,899	)
													$	94,937

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation

# of Shares or Units

Rate Paid/ Received

Payment Frequency

Notional Amount (000)

Maturity Date

Unrealized Appreciation/ (Depreciation)

Receive Total Return on Reference Obligation

Citibank, NA

CGABROE2

47,220

LIBOR Plus 0.20%

Quarterly

USD

4,724

11/15/19

$

2,091

Goldman Sachs International

GSABLJHB(1)

2,760,485

LIBOR Plus 0.20%

Quarterly

JPY

243,999

2/15/19

19,896

JPMorgan Chase Bank, NA

JPQABACP(2)

10,897

0.17%

Maturity

USD

1,024

6/17/19

(48,566

)

Pay Total Return on Reference Obligation

Citibank, NA

Russell 1000 Index

Total Return

548

LIBOR Plus 0.24%

Quarterly

USD

4,735

11/15/19

6,056

Goldman Sachs International

GSABSJHB(3)

2,760,485

LIBOR Minus 0.20%

Quarterly

JPY

249,272

2/15/19

(51,252

)

$

(71,775

)

** Principal amount less than 500.

*** Notional amount less than 500.

(a) Non-income producing security.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2018, the aggregate market value of these securities amounted to $19,007,988 or 10.2% of net assets.

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

(d) 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.

(e) Affiliated investments.

(f) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(g) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at November 30, 2018.

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

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

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

(k) As of November 30, 2018, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $10,349,495 and gross unrealized depreciation of investments was $(10,659,895), resulting in net unrealized depreciation of $(310,400).

(l) One contract relates to 1 share.

Currency Abbreviations:

AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
CLP	-	Chilean Peso
CNH	-	Chinese Yuan Renminbi (Offshore)
CNY	-	Chinese Yuan Renminbi
COP	-	Colombian Peso
EUR	-	Euro

GBP	-	Great British Pound
ILS	-	Israeli Shekel
INR	-	Indian Rupee
JPY	-	Japanese Yen
KRW	-	South Korean Won
MXN	-	Mexican Peso
MYR	-	Malaysian Ringgit
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
PLN	-	Polish Zloty
RUB	-	Russian Ruble
SEK	-	Swedish Krona
SGD	-	Singapore Dollar
TRY	-	Turkish Lira
TWD	-	New Taiwan Dollar
USD	-	United States Dollar
UYU	-	Uruguayan Peso
ZAR	-	South African Rand
Glossary:
ABS	-	Asset-Backed Securities
ADR	-	American Depositary Receipt
ARMs	-	Adjustable Rate Mortgages
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
CDX-NAIG	-	North American Investment Grade Credit Default Swap Index
CMBS	-	Commercial Mortgage-Backed Securities
CPI	-	Consumer Price Index
ETF	-	Exchange Traded Fund
FTSE	-	Financial Times Stock Exchange
LIBOR	-	London Interbank Offered Rates
MSCI	-	Morgan Stanley Capital International
OAT	-	Obligations Assimilables du Trésor
OSE	-	Osaka Securities Exchange
PJSC	-	Public Joint Stock Company
SPI	-	Share Price Index
TBA	-	To Be Announced

⁽¹⁾  The following table represents the 50 largest equity basket holdings underlying the total return swap with GSABLJHB as of November 30, 2018.

Security Description	Shares		Notional Value as of 11/30/18		Percent of Basket’s Value
Sumitomo Dainippon Pharma Co.		1,573	JPY	5,819,398		2.4	%
FamilyMart UNY Holdings Co. Ltd.		313		5,044,830		2.1	%
Eisai Co. Ltd.		402		4,183,672		1.7	%
Kikkoman Corp.		609		4,033,282		1.6	%
Fast Retailing Co. Ltd.		60		3,542,189		1.4	%
Suzuken Co. Ltd./Aichi Japan		540		3,300,812		1.3	%
Taiyo Nippon Sanso Corp.		1,667		3,186,646		1.3	%
Showa Shell Sekiyu KK		1,804		3,172,521		1.3	%
NTT Urban Development Corp.		1,887		3,167,675		1.3	%
Marui Group Co. Ltd.		1,264		3,092,806		1.3	%
Sony Financial Holdings Inc.		1,292		3,076,109		1.3	%
Medipal Holdings Corp.		1,181		3,069,948		1.2	%
TIS Inc.		568		2,978,672		1.2	%
Alfresa Holdings Corp.		983		2,968,230		1.2	%
Nichirei Corp.		919		2,944,265		1.2	%
Shiseido Co. Ltd.		389		2,807,188		1.1	%

Security Description	Shares		Notional Value as of 11/30/18		Percent of Basket’s Value
Dai Nippon Printing Co. Ltd.		1,053	JPY	2,764,778		1.1	%
Tokyo Gas Co. Ltd.		940		2,748,177		1.1	%
Sumitomo Realty & Development		651		2,740,950		1.1	%
Sompo Holdings Inc.		619		2,713,187		1.1	%
Trend Micro Inc./Japan		415		2,703,278		1.1	%
Kyowa Hakko Kirin Co. Ltd.		1,145		2,664,422		1.1	%
Mitsui Fudosan Co. Ltd.		980		2,661,737		1.1	%
SBI Holdings Inc./Japan		1,012		2,608,165		1.1	%
Hitachi Capital Corp.		910		2,552,967		1.0	%
Toyota Tsusho Corp.		650		2,549,386		1.0	%
Electric Power Development Co.		858		2,508,061		1.0	%
Konica Minolta Inc.		2,442		2,495,885		1.0	%
Yokogawa Electric Corp.		1,190		2,483,297		1.0	%
Casio Computer Co. Ltd.		1,565		2,478,118		1.0	%
Isetan Mitsukoshi Holdings Ltd.		1,875		2,461,913		1.0	%
Mitsubishi Estate Co. Ltd.		1,333		2,427,317		1.0	%
Sanwa Holdings Corp.		1,758		2,423,137		1.0	%
Nippon Express Co. Ltd.		353		2,416,500		1.0	%
Iida Group Holdings Co. Ltd.		1,203		2,410,297		1.0	%
Fukuoka Financial Group Inc.		929		2,406,263		1.0	%
Kirin Holdings Co. Ltd.		903		2,405,501		1.0	%
Dai-ichi Life Holdings Inc.		1,215		2,404,205		1.0	%
Nippon Electric Glass Co. Ltd.		783		2,387,837		1.0	%
Idemitsu Kosan Co. Ltd.		575		2,374,186		1.0	%
Yokohama Rubber Co. Ltd./The		992		2,357,125		1.0	%
TDK Corp.		263		2,355,576		1.0	%
T&D Holdings Inc.		1,446		2,333,185		0.9	%
SoftBank Group Corp.		244		2,319,816		0.9	%
Seino Holdings Co. Ltd.		1,376		2,317,993		0.9	%
Bank of Kyoto Ltd./The		422		2,306,203		0.9	%
Konami Holdings Corp.		454		2,304,065		0.9	%
Asics Corp.		1,397		2,285,949		0.9	%
Oji Holdings Corp.		3,416		2,268,513		0.9	%
Isuzu Motors Ltd.		1,402		2,265,853		0.9	%
Other		60,683		105,611,919		42.9	%

⁽²⁾  The following table represents the 50 largest (long/short) basket holdings underlying the total return swap with JPQABACP as of November 30, 2018.

Security Description	Shares		Notional Value as of 11/30/18		Percent of Basket’s Value
Royal Dutch Shell PLC		45	$	136,913		14.0	%
Chevron Corp.		516		61,440		6.3	%
Exxon Mobil Corp.		744		59,544		6.1	%
BP PLC		88		58,115		6.0	%
TOTAL SA		1,043		57,875		5.9	%
EOG Resources Inc.		444		45,734		4.7	%
PetroChina Co. Ltd.		53,188		33,983		3.5	%
Glencore PLC		87		32,147		3.3	%
Repsol SA		1,743		29,601		3.0	%
Anadarko Petroleum Corp.		475		25,156		2.6	%
Mosaic Co./The		639		23,008		2.4	%
Vale SA		1,601		22,409		2.3	%
Agnico Eagle Mines Ltd.		627		22,167		2.3	%
Alcoa Corp.		678		21,693		2.2	%
Boliden AB		876		19,647		2.0	%
Halliburton Co.		590		18,283		1.9	%
LUKOIL PJSC		228		16,896		1.7	%
JXTG Holdings Inc.		2,344		14,159		1.5	%
Continental Resources Inc./OK		308		14,156		1.5	%

Security Description	Shares		Notional Value as of 11/30/18			Percent of Basket’s Value
First Quantum Minerals Ltd.		1,561	$	14,092			1.4	%
Motor Oil Hellas Corinth Refineries		622		14,087			1.4	%
C&J Energy Services Inc.		776		13,199			1.4	%
Antofagasta PLC		13		12,987			1.3	%
MMC Norilsk Nickel PJSC		604		11,481			1.2	%
Rio Tinto PLC		2		11,130			1.1	%
SM Energy Co.		555		11,109			1.1	%
Yamato Kogyo Co. Ltd.		389		10,174			1.0	%
Tupras Turkiye Petrol Rafinerileri A.Ş.		407		9,690			1.0	%
S-Oil Corp.		9,592		9,592			1.0	%
Concho Resources Inc.		73		9,493			1.0	%
Origin Energy Ltd.		2,145		9,398			1.0	%
Aker BP ASA		330		9,358			1.0	%
Norsk Hydro ASA		1,956		9,094			0.9	%
Newcrest Mining Ltd.		509		7,806			0.8	%
Lundin Mining Corp.		1,684		7,601			0.8	%
Johnson Matthey PLC		2		7,538			0.8	%
Inpex Corp.		687		7,292			0.7	%
Sumitomo Metal Mining Co. Ltd.		236		6,863			0.7	%
Sasol Ltd.		2		6,851			0.7	%
Whiting Petroleum Corp.		220		6,599			0.7	%
Polyus PJSC		157		5,660			0.6	%
Syrah Resources Ltd.		3,393		4,956			0.5	%
Incitec Pivot Ltd.		1,665		4,863			0.5	%
OZ Minerals Ltd.		730		4,795			0.5	%
Detour Gold Corp.		635		4,780			0.5	%
Cosan SA		522		4,584			0.5	%
Gran Tierra Energy Inc.		1,516		4,561			0.5	%
Petroleo Brasileiro SA		338		4,395			0.5	%
APERAM SA		149		4,231			0.4	%
Industrias Penoles SAB de CV		361		4,116			0.4	%
Other		1,432		(1,017,860	)		(104.4	)%

⁽³⁾  The following table represents the 50 largest (short) equity basket holdings underlying the total return swap with GSABSJHB as of November 30, 2018.

Security Description	Shares			Notional Value as of 11/30/18			Percent of Basket’s Value
Keihan Holdings Co. Ltd.		(817	)	JPY	(3,872,763	)		1.5	%
Nissan Chemical Corp.		(622	)		(3,829,253	)		1.5	%
Asahi Intecc Co. Ltd.		(695	)		(3,698,072	)		1.5	%
Bandai Namco Holdings Inc.		(759	)		(3,619,662	)		1.4	%
Kyushu Railway Co.		(823	)		(3,087,659	)		1.2	%
Astellas Pharma Inc.		(1,754	)		(3,058,671	)		1.2	%
Park24 Co. Ltd.		(985	)		(3,019,963	)		1.2	%
Oriental Land Co. Ltd./Japan		(258	)		(2,913,391	)		1.1	%
Ezaki Glico Co Ltd.		(526	)		(2,907,864	)		1.1	%
Marubeni Corp.		(3,386	)		(2,871,193	)		1.1	%
Japan Post Insurance Co. Ltd.		(999	)		(2,862,194	)		1.1	%
McDonald’s Holdings Co. Japan L		(562	)		(2,860,485	)		1.1	%
Otsuka Holdings Co. Ltd.		(506	)		(2,801,744	)		1.1	%
Azbil Corp.		(1,141	)		(2,795,217	)		1.1	%
West Japan Railway Co.		(338	)		(2,676,594	)		1.1	%
KDDI Corp.		(1,000	)		(2,662,849	)		1.0	%
MEIJI Holdings Co. Ltd.		(294	)		(2,623,897	)		1.0	%
Fuji Media Holdings Inc.		(1,479	)		(2,615,477	)		1.0	%
NTT DOCOMO Inc.		(979	)		(2,573,180	)		1.0	%
Tobu Railway Co. Ltd.		(767	)		(2,492,426	)		1.0	%
Japan Post Bank Co. Ltd.		(1,869	)		(2,477,860	)		1.0	%
Makita Corp.		(554	)		(2,467,165	)		1.0	%

Security Description	Shares			Notional Value as of 11/30/18			Percent of Basket’s Value
Yamaguchi Financial Group Inc.		(2,094	)	JPY	(2,462,712	)		1.0	%
Hoshizaki Corp.		(279	)		(2,460,029	)		1.0	%
Rakuten Inc.		(2,661	)		(2,432,065	)		1.0	%
Japan Airlines Co. Ltd.		(593	)		(2,427,992	)		1.0	%
Nippon Telegraph & Telephone Co.		(518	)		(2,423,834	)		1.0	%
SCSK Corp.		(533	)		(2,402,450	)		0.9	%
Nissan Motor Co. Ltd.		(2,404	)		(2,389,374	)		0.9	%
Seria Co. Ltd.		(494	)		(2,385,863	)		0.9	%
Ono Pharmaceutical Co. Ltd.		(852	)		(2,340,408	)		0.9	%
ANA Holdings Inc.		(577	)		(2,339,162	)		0.9	%
Aozora Bank Ltd.		(620	)		(2,314,155	)		0.9	%
Toray Industries Inc.		(2,547	)		(2,266,626	)		0.9	%
Rinnai Corp.		(277	)		(2,252,525	)		0.9	%
Nitori Holdings Co. Ltd.		(147	)		(2,230,798	)		0.9	%
Zenkoku Hosho Co. Ltd.		(570	)		(2,211,490	)		0.9	%
Teijin Ltd.		(1,123	)		(2,200,908	)		0.9	%
Ryohin Keikaku Co. Ltd.		(72	)		(2,189,664	)		0.9	%
Daito Trust Construction Co. Ltd.		(148	)		(2,187,928	)		0.9	%
Canon Inc.		(671	)		(2,159,857	)		0.8	%
Japan Tobacco Inc.		(763	)		(2,155,199	)		0.8	%
Aeon Co. Ltd.		(761	)		(2,069,724	)		0.8	%
Nihon M&A Center Inc.		(764	)		(2,022,742	)		0.8	%
Sundrug Co. Ltd.		(527	)		(2,017,585	)		0.8	%
Kansai Paint Co. Ltd.		(939	)		(1,997,555	)		0.8	%
Shimamura Co. Ltd.		(207	)		(1,992,165	)		0.8	%
Miura Co. Ltd.		(636	)		(1,923,204	)		0.8	%
Nintendo Co. Ltd.		(55	)		(1,891,435	)		0.7	%
Takeda Pharmaceutical Co. Ltd.		(444	)		(1,889,303	)		0.7	%
Other		(46,577	)		(127,526,755	)		50.1	%

COUNTRY BREAKDOWN¹

68.4%	United States
6.3%	Japan
2.9%	United Kingdom
2.3%	Canada
2.0%	France
1.5%	Switzerland
1.2%	Germany
1.2%	Spain
0.9%	Italy
0.7%	Denmark
0.7%	China
0.7%	Singapore
0.6%	Netherlands
5.7%	Other
4.9%	Short-Term
100.0%	Total Investments

1 All data are as of November 30, 2018. The Portfolio’s country breakdown is expressed as a percentage of total investments and may vary over time. “Other” country weightings represent 0.5% or less in the following countries: Australia, Belgium, Brazil, Cayman Islands, Chile, Colombia, Finland, Hong Kong, Ireland, Israel, Malaysia, New Zealand, Norway, Philippines, Poland, Portugal, Qatar, Russia, Saudi Arabia, South Africa, South Korea, Supranational, Sweden, Taiwan, Turkey and Uruguay.

AB Conservative Wealth Fund

November 30, 2018 (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.

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

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.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2018:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Information Technology

$

11,175,914

$

1,748,325

$

– 0

–

$

12,924,239

Health Care

9,117,857

1,566,756

– 0

–

10,684,613

Financials

5,410,077

3,925,063

– 0

–

9,335,140

Consumer Discretionary

7,701,318

1,222,723

– 0

–

8,924,041

Industrials

4,758,689

1,684,231

– 0

–

6,442,920

Communication Services

3,602,643

2,199,967

– 0

–

5,802,610

Consumer Staples

2,045,673

2,161,721

– 0

–

4,207,394

Energy

759,132

1,296,467

– 0

–

2,055,599

Materials

884,168

883,386

– 0

–

1,767,554

Real Estate

746,844

290,787

– 0

–

1,037,631

Utilities

291,253

471,273

– 0

–

762,526

Investment Companies

59,743,425

– 0

–

– 0

–

59,743,425

Governments - Treasuries

– 0

–

16,540,848

– 0

–

16,540,848

Corporates - Investment Grade

– 0

–

10,656,886

– 0

–

10,656,886

Inflation-Linked Securities

– 0

–

9,256,731

– 0

–

9,256,731

Mortgage Pass-Throughs

– 0

–

5,260,577

– 0

–

5,260,577

Covered Bonds

– 0

–

2,475,600

– 0

–

2,475,600

Collateralized Mortgage Obligations

– 0

–

1,724,761

204,970

1,929,731

Agencies

– 0

–

1,579,900

– 0

–

1,579,900

Commercial Mortgage-Backed Securities

– 0

–

1,369,201

– 0

–

1,369,201

Collateralized Loan Obligations

– 0

–

– 0

–

997,120

997,120

Asset-Backed Securities

– 0

–

516,580

376,459

893,039

Governments - Sovereign Bonds

– 0

–

493,575

– 0

–

493,575

Supranationals

– 0

–

351,654

– 0

–

351,654

Governments - Sovereign Agencies

– 0

–

259,759

– 0

–

259,759

Local Governments - US Municipal Bonds

– 0

–

232,533

– 0

–

232,533

Quasi-Sovereigns

– 0

–

196,656

– 0

–

196,656

Options Purchased - Puts

– 0

–

164,511

– 0

–

164,511

Corporates - Non-Investment Grade

– 0

–

130,503

– 0

–

130,503

Local Governments - Provincial Bonds

– 0

–

104,570

– 0

–

104,570

Options Purchased - Calls

– 0

–

99,178

– 0

–

99,178

Short-Term Investments

9,124,791

– 0

–

– 0

–

9,124,791

Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund

185,790

– 0

–

– 0

–

185,790

Total Investments in Securities

115,547,574

68,864,722

1,578,549

185,990,845

Other Financial Instruments(a):

Assets:

Futures

228,229

652,356

– 0

–

880,585

Forward Currency Exchange Contracts

– 0

–

1,181,475

– 0

–

1,181,475

Centrally Cleared Credit Default Swaps

– 0

–

431,011

– 0

–

431,011

Centrally Cleared Interest Rate Swaps

– 0

–

32,539

– 0

–

32,539

Inflation (CPI) Swaps

– 0

–

204,037

– 0

–

204,037

Total Return Swaps

– 0

–

28,043

– 0

–

28,043

Liabilities:

Futures

(600,987

)

(60,861

)

– 0

–

(661,848

)

Forward Currency Exchange Contracts

– 0

–

(742,447

)

– 0

–

(742,447

)

Call Options Written

– 0

–

(256,666

)

– 0

–

(256,666

)

Put Options Written

– 0

–

(71,533

)

– 0

–

(71,533

)

Currency Options Written

– 0

–

(16,133

)

– 0

–

(16,133

)

Centrally Cleared Credit Default Swaps

– 0

–

(519,632

)

– 0

–

(519,632

)

Centrally Cleared Interest Rate Swaps

– 0

–

(15,569

)

– 0

–

(15,569

)

Credit Default Swaps

– 0

–

(68,475

)

– 0

–

(68,475

)

Inflation (CPI) Swaps

– 0

–

(109,100

)

– 0

–

(109,100

)

Total Return Swaps

– 0

–

(99,818

)

– 0

–

(99,818

)

Total(b)

$

115,174,816

$

69,433,949

$

1,578,549

$

186,187,314

(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) There were de minimis transfers under 1% of net assets between Level 1 and Level 2 during the reporting period.

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

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

	Collateralized Mortgage Obligations			Commercial Mortgage-Backed Securities			Collateralized Loan Obligations
Balance as of 8/31/18	$	30,393		$	9,382		$	749,998
Accrued discounts/(premiums)		32			– 0	–		– 0	–
Realized gain (loss)		– 0	–		65			– 0	–
Change in unrealized appreciation/depreciation		(455	)		(65	)		(2,878	)
Purchases/Payups		175,000			– 0	–		– 0	–
Sales/Paydowns		– 0	–		(9,382	)		– 0	–
Transfers in to Level 3		– 0	–		– 0	–		250,000
Transfers out of Level 3		– 0	–		– 0	–		– 0	–
Balance as of 11/30/18	$	204,970		$	– 0	–	$	997,120
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(455	)	$	– 0	–	$	(2,878	)
	Asset-Backed Securities			Total
Balance as of 8/31/18	$	388,628		$	1,178,401
Accrued discounts/(premiums)		6			38
Realized gain (loss)		9			74
Change in unrealized appreciation/depreciation		(1,768	)		(5,166	)
Purchases/Payups		– 0	–		175,000
Sales/Paydowns		(10,416	)		(19,798	)
Transfers in to Level 3		– 0	–		250,000	(a)
Transfers out of Level 3		– 0	–		– 0	–
Balance as of 11/30/18	$	376,459		$	1,578,549
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(1,768	)	$	(5,101	)

^(a) There were de minimis transfers under 1% of net assets during the reporting period.

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

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

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

A Summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2018 is as follows:

																	Distributions
Affiliated Issuer	Market Value 8/31/18 (000)		Purchases at Cost (000)			Sales Proceeds (000)			Realized Gain (Loss) (000)			Change in Unrealized Appr./(Depr.) (000)			Market Value 11/30/18 (000)		Dividend Income (000)			Realized Gains (000)
AB All Market Real Return Portfolio	$	20,431	$	5,677		$	– 0	–	$	– 0	–	$	(1,567	)	$	24,541	$	– 0	–	$	– 0	–
AB Cap Fund, Inc. - AB All Market Alternative Return Portfolio		16,364		– 0	–		– 0	–		– 0	–		(633	)		15,731		– 0	–		– 0	–
AB High Income Fund, Inc.		20,301		328			1,204			(141	)		(669	)		18,615		334			– 0	–
Government Money Market Portfolio		1,825		19,497			12,197			– 0	–		– 0	–		9,125		– 0	–		27
Government Money Market Portfolio*		385		7,156			7,355			– 0	–		– 0	–		186		4			– 0	–
Total	$	59,306	$	32,658		$	20,756		$	(141	)	$	(2,869	)	$	68,198	$	338		$	27

* Investments of cash collateral for securities lending transactions

AB Tax-Managed All Market Income Portfolio

Portfolio of Investments

November 30, 2018 (unaudited)

	Principal Amount (000)		U.S. $ Value
MUNICIPAL OBLIGATIONS - 55.2%
Long-Term Municipal Bonds - 55.2%
Alabama - 1.0%
Water Works Board of the City of Birmingham (The)
Series 2010A
5.00%, 1/01/25	$	1,000	$	1,055,850
Arizona - 2.1%
Arizona Department of Transportation State Highway Fund Revenue
Series 2011A
5.00%, 7/01/25		1,685		1,802,580
Glendale Industrial Development Authority (Beatitudes Campus (The))
Series 2017
5.00%, 11/15/40 (a)		335		322,464
Tempe Industrial Development Authority (Mirabella at ASU, Inc.)
Series 2017A
6.125%, 10/01/47 (a)(b)		110		117,681
				2,242,725
California - 1.3%
California Health Facilities Financing Authority (Children’s Hospital Los Angeles)
Series 2017A
5.00%, 8/15/37		510		563,688
California School Finance Authority (Bright Star Schools Obligated Group)
Series 2017
5.00%, 6/01/54 (a)(b)		250		247,537
State of California
Series 2017
5.00%, 8/01/26		440		519,257
				1,330,482
Colorado - 1.7%
City & County of Denver CO (United Airlines, Inc.)
Series 2017
5.00%, 10/01/32		1,000		1,050,600
City & County of Denver CO Airport System Revenue (Denver Intl Airport)
Series 2018A
5.00%, 12/01/28		545		633,230
PV Water & Sanitation Metropolitan District
Series 2006
Zero Coupon, 12/15/17 (a)(c)(d)(e)		710		149,100
				1,832,930

	Principal Amount (000)		U.S. $ Value
Connecticut - 1.2%
State of Connecticut Special Tax Revenue
Series 2012
5.00%, 1/01/27	$	1,135	$	1,226,719
Delaware - 0.2%
Delaware State Economic Development Authority (Newark Charter School, Inc.)
Series 2012
5.00%, 9/01/42		225		231,143
Florida - 4.5%
Cape Coral Health Facilities Authority (Gulf Care, Inc. Obligated Group)
Series 2015
6.00%, 7/01/50 (a)(b)		270		283,570
Capital Trust Agency, Inc. (AVIVA SENIOR LIFE)
Series 2017
5.00%, 7/01/46 (a)(b)		340		333,503
Capital Trust Agency, Inc. (Provision Cares Proton Therapy Center - Orlando)
Series 2018A
7.50%, 6/01/48 (a)(b)		100		101,345
County of Miami-Dade FL Aviation Revenue
Series 2014B
5.00%, 10/01/25		665		748,311
County of Miami-Dade FL Spl Tax
Series 2012A
5.00%, 10/01/25		560		612,545
North Broward Hospital District
Series 2017B
5.00%, 1/01/37-1/01/48		425		447,881
Overoaks Community Development District
Series 2010A-1
6.125%, 5/01/35 (a)				15 15,016
Series 2010A-2
6.125%, 5/01/35 (a)				35 35,037
Sarasota County School Board COP
Series 2010B
5.00%, 7/01/22 (Pre-refunded/ETM)		935		979,160
Tampa Bay Water
Series 2011A 5.00%, 10/01/23		1,105		1,190,914
				4,747,282
Georgia - 1.5%
Augusta Development Authority (AU Health System Obligated Group)
Series 2018
5.00%, 7/01/30		200		224,312
City of Atlanta Department of Aviation (Hartsfield Jackson Atlanta Intl Airport)
Series 2014A
5.00%, 1/01/28		625		700,037

	Principal Amount (000)		U.S. $ Value
Main Street Natural Gas, Inc. (Royal Bank of Canada)
Series 2018C
4.00%, 8/01/48	$	450	$	469,989
Private Colleges & Universities Authority (Savannah College of Art & Design, Inc.)
Series 2014
5.00%, 4/01/44		210		221,414
				1,615,752
Guam - 0.3%
Territory of Guam (Territory of Guam Business Privilege Tax)
Series 2011A
5.125%, 1/01/42		300		308,655
Illinois - 6.7%
Chicago Board of Education
Series 2012A
5.00%, 12/01/42		950		936,928
Series 2016A
7.00%, 12/01/44		100		112,936
Series 2017B
6.75%, 12/01/30 (b)		135		158,131
7.00%, 12/01/42 (b)		100		115,834
Chicago O’Hare International Airport (TrIPs Obligated Group)
Series 2018
5.00%, 7/01/33		105		115,830
City of Chicago IL
Series 2014A
5.00%, 1/01/35		100		102,197
Illinois Finance Authority (Ascension Health Credit Group)
Series 2016C
5.00%, 2/15/41		415		453,960
Illinois Finance Authority (CHF-Chicago LLC)
Series 2017A
5.00%, 2/15/47		210		220,248
Illinois Finance Authority (Lutheran Home & Services Obligated Group)
Series 2012
5.75%, 5/15/46 (a)		475		484,633
Illinois Finance Authority (Mercy Health Corp. Obligated Group)
Series 2016
5.00%, 12/01/46		430		458,341
Illinois Finance Authority (Park Place of Elmhurst)
Series 2016A
6.44%, 5/15/55 (a)		498		445,904
Illinois Finance Authority (Rosalind Franklin University of Medicine & Science)
Series 2017C
5.00%, 8/01/49		425		447,865

	Principal Amount (000)		U.S. $ Value
Metropolitan Pier & Exposition Authority
Series 2012
Zero Coupon 12/15/41-12/15/50	$	675	$	171,955
Metropolitan Pier & Exposition Authority (Metropolitan Pier & Exposition Authority Lease)
Series 2017A
5.00%, 6/15/57		115		118,281
Series 2017B
Zero Coupon%, 12/15/54		150		23,262
Railsplitter Tobacco Settlement Authority
Series 2017
5.00%, 6/01/23		365		400,934
State of Illinois
Series 2013
5.00%, 7/01/22		315		328,800
Series 2014
5.00%, 4/01/20		75		76,981
Series 2016
5.00%, 2/01/23-2/01/28		1,170		1,230,957
Series 2017A
5.00%, 12/01/25		135		143,078
Series 2017D
5.00%, 11/01/24-11/01/28		480		506,688
				7,053,743
Indiana - 0.4%
Indiana Bond Bank
Series 2007A
5.25%, 10/15/19		460		471,909
Iowa - 0.5%
Iowa Finance Authority (Iowa Fertilizer Co. LLC)
Series 2013B
5.25%, 12/01/50		110		116,705
Xenia Rural Water District
Series 2016
5.00%, 12/01/31		340		369,604
				486,309
Kansas - 0.3%
Wyandotte County-Kansas City Unified Government (Wyandotte County-Kansas City Unified Government Sales Tax)
Series 2018
4.50%, 6/01/40		315		306,533
Kentucky - 1.1%
Kentucky Economic Development Finance Authority (Baptist Healthcare System Obligated Group)
Series 2017B
5.00%, 8/15/37-8/15/46		620		650,698

	Principal Amount (000)		U.S. $ Value
Kentucky Economic Development Finance Authority (Owensboro Health, Inc. Obligated Group)
Series 2017A
5.00%, 6/01/37	$	315	$	329,333
5.25%, 6/01/41		150		157,643
				1,137,674
Louisiana - 0.4%
New Orleans Aviation Board
Series 2017B
5.00%, 1/01/48		400		428,704
Maryland - 1.3%
City of Baltimore MD (Baltimore Hotel Corp.)
Series 2017
5.00%, 9/01/34		400		435,312
City of Baltimore MD (East Baltimore Research Park Project)
Series 2017A
5.00%, 9/01/38 (a)		215		223,630
County of Frederick MD (Mount St. Mary’s University, Inc.)
Series 2017A
5.00%, 9/01/45 (b)		215		220,184
County of Howard MD (Downtown Columbia Project)
Series 2017A
4.50%, 2/15/47 (a)(b)		500		489,790
				1,368,916
Massachusetts - 1.6%
Massachusetts Development Finance Agency (Boston Medical Center Corp. Obligated Group)
Series 2015D
5.00%, 7/01/44		175		184,557
Massachusetts Development Finance Agency (Lawrence General Hospital Obligated Group)
Series 2017
5.00%, 7/01/47		320		332,233
Massachusetts Development Finance Agency (Merrimack College)
Series 2012A
5.25%, 7/01/42		635		661,175
Massachusetts Development Finance Agency (NewBridge on the Charles, Inc.)
Series 2017
5.00%, 10/01/37 (b)		200		204,862
Massachusetts Development Finance Agency (Zero Waste Solutions)
Series 2017
8.00%, 12/01/22 (a)(b)		235		197,231
Series 2017A
7.75%, 12/01/44 (a)(b)		100		94,476
				1,674,534

	Principal Amount (000)		U.S. $ Value
Michigan - 2.5%
Grand Rapids Economic Development Authority (Beacon Hill at Eastgate)
Series 2017A
5.00%, 11/01/47 (a)	$	325	$	329,417
Michigan Finance Authority (Great Lakes Water Authority Sewage Disposal System Revenue)
AGM Series 2014C
5.00%, 7/01/28		325		361,169
Michigan Finance Authority (Great Lakes Water Authority Water Supply System Revenue)
AGM Series 2014D2
5.00%, 7/01/28		1,000		1,111,290
Michigan State Hospital Finance Authority (Trinity Health Corp. Obligated Group)
Series 2017C
5.00%, 12/01/23		445		498,662
Michigan Tobacco Settlement Finance Authority (Tobacco Settlement Financing Corp./MI)
Series 2007A
6.00%, 6/01/48		405		396,325
				2,696,863
Minnesota - 0.1%
City of Bethel MN (Lodge at Stillwater LLC (The))
Series 2018
5.25%, 6/01/58 (a)		100		102,428
Mississippi - 0.4%
Mississippi Hospital Equipment & Facilities Authority (Baptist Memorial Health Care Obligated Group)
Series 2016A
5.00%, 9/01/46		400		419,864
Missouri - 0.9%
Cape Girardeau County Industrial Development Authority (SoutheastHEALTH Obligated Group)
Series 2017A
5.00%, 3/01/36		470		500,221
Lees Summit Industrial Development Authority (John Knox Village Obligated Group)
Series 2016A
5.00%, 8/15/46		500		486,085
				986,306
Nebraska - 0.5%
Central Plains Energy Project (Goldman Sachs Group, Inc. (The))
Series 2017A
5.00%, 9/01/42		455		517,012

	Principal Amount (000)		U.S. $ Value
Nevada - 0.1%
State of Nevada Department of Business & Industry (Fulcrum Sierra Holdings LLC)
Series 2018
6.95%, 2/15/38 (a)(b)	$	100	$	99,358
New Jersey - 5.4%
New Jersey Economic Development Authority (New Jersey Economic Development Authority State Lease)
Series 2013
5.00%, 3/01/30		685		722,312
Series 2014P
5.00%, 6/15/29		500		532,185
New Jersey Economic Development Authority (North Star Academy Charter School of Newark, Inc.)
Series 2017
5.00%, 7/15/47		415		432,065
New Jersey Economic Development Authority (NYNJ Link Borrower LLC)
Series 2013
5.25%, 1/01/25		1,195		1,317,715
New Jersey Economic Development Authority (Port Newark Container Terminal LLC)
Series 2017
5.00%, 10/01/47		415		434,879
New Jersey Transit Corp.
Series 2014A
5.00%, 9/15/20		300		314,310
New Jersey Transportation Trust Fund Authority (New Jersey Transportation Trust Fund Authority State Lease)
Series 2013A
5.00%, 6/15/20		840		872,239
New Jersey Turnpike Authority
Series 2014A
5.00%, 1/01/29		675		755,156
Tobacco Settlement Financing Corp./NJ
Series 2018B
5.00%, 6/01/46		390		390,495
				5,771,356
New York - 3.4%
County of Nassau NY
Series 2017C
5.00%, 10/01/26		225		260,073
New York City Transitional Finance Authority Building Aid Revenue (New York City Transitional Finance Authority Building Aid Revenue State Lease)
Series 2018S
5.00%, 7/15/32		195		226,120
New York City Transitional Finance Authority Future Tax Secured Revenue
Series 2012B
5.00%, 11/01/26		1,085		1,190,896

	Principal Amount (000)		U.S. $ Value
New York State Dormitory Authority (State University of New York Dormitory Fees)
Series 2013A
5.00%, 7/01/26	$	205	$	228,618
New York Transportation Development Corp. (Laguardia Gateway Partners LLC)
Series 2016A
5.00%, 7/01/41		460		483,708
Triborough Bridge & Tunnel Authority
Series 2012B
5.00%, 11/15/26		1,000		1,103,700
Westchester County Local Development Corp. (Westchester County Health Care Corp. Obligated Group)
Series 2016
5.00%, 11/01/46		105		110,035
				3,603,150
North Carolina - 0.2%
North Carolina Medical Care Commission (United Church Homes & Services Obligated Group)
Series 2017
5.00%, 9/01/41 (a)		250		254,965
Ohio - 2.4%
Buckeye Tobacco Settlement Financing Authority
Series 2007A-2
5.875%, 6/01/47		730		690,821
Butler County Port Authority (StoryPoint Obligated Group)
Series 2017A-1
6.375%, 1/15/43 (a)(b)		225		229,327
County of Allen OH Hospital Facilities Revenue (Mercy Health/OH)
Series 2017A
5.00%, 8/01/28		315		362,256
County of Cuyahoga OH (MetroHealth System (The))
Series 2017
5.00%, 2/15/42		660		686,149
Ohio Air Quality Development Authority (FirstEnergy Generation LLC) 5.625%, 6/01/19 (a)(d)(f)		140		135,800
Series 2009D
4.25%, 8/01/29 (a)		250		242,500
Ohio Air Quality Development Authority (Pratt Paper/OH, Inc.)
Series 2017
4.50%, 1/15/48 (a)(b)		175		175,123
Ohio Water Development Authority Water Pollution Control Loan Fund (FirstEnergy Nuclear Generation LLC)
Series 2016A
4.375%, 6/01/33 (a)		45		43,650
				2,565,626

	Principal Amount (000)		U.S. $ Value
Pennsylvania - 2.6%
Allentown Neighborhood Improvement Zone Development Authority
Series 2017
5.00%, 5/01/42 (b)	$	220	$	228,245
Commonwealth of Pennsylvania
Series 2016
5.00%, 9/15/23		600		669,180
Crawford County Hospital Authority (Meadville Medical Center Obligated Group)
Series 2016A
6.00%, 6/01/51 (a)		215		226,225
Pennsylvania Economic Development Financing Authority (PA Bridges Finco LP)
Series 2015
5.00%, 12/31/34		220		234,837
Philadelphia Authority for Industrial Development (Evangelical Services for the Aging Obligated Group)
Series 2017A
5.00%, 7/01/49		335		333,945
Philadelphia Authority for Industrial Development (LLPCS Foundation)
Series 2005A
4.60%, 7/01/15 (a)(c)(d)(e)		55		550
School District of Philadelphia (The)
Series 2018A
5.00%, 9/01/34		1,000		1,107,190
				2,800,172
Puerto Rico - 1.8%
Commonwealth of Puerto Rico
Series 2012A
5.125%, 7/01/37 (d)(f)		100		58,000
5.50%, 7/01/39 (d)(f)		150		87,000
Series 2014A
8.00%, 7/01/35 (d)(f)		250		144,687
Government Development Bank for Puerto Rico
Series 2018
7.50%, 8/20/40 (a)		112		88,948
Puerto Rico Commonwealth Aqueduct & Sewer Authority
Series 2008A
6.125%, 7/01/24		30		28,875
Series 2012A
5.00%, 7/01/33		50		45,938
5.125%, 7/01/37		25		23,031
5.25%, 7/01/29-7/01/42		110		102,212
5.50%, 7/01/28		30		28,463
5.75%, 7/01/37		30		28,650
6.00%, 7/01/47		30		28,650
Puerto Rico Electric Power Authority
Series 2007T
5.00%, 7/01/37 (d)(f)		30		18,900

	Principal Amount (000)		U.S. $ Value
Series 2010C
5.00%, 7/01/21 (d)(f)	$	25	$	15,750
Series 2010DDD
5.00%, 7/01/21 (d)(f)		15		9,450
Series 2012A
5.00%, 7/01/42 (d)(f)		90		56,700
AGM Series 2007V
5.25%, 7/01/27-7/01/31		345		379,597
Puerto Rico Highway & Transportation Authority
NATL Series 2007N
5.25%, 7/01/32		330		344,325
Puerto Rico Industrial Tourist Educational Medical & Envirml Ctl Facs Fing Auth (AES Puerto Rico LP)
Series 2000
6.625%, 6/01/26		225		219,094
Puerto Rico Sales Tax Financing Corp.
5.25%, 8/01/57		100		80,000
Series 2011C
5.25%, 8/01/40		100		80,000
				1,868,270
Tennessee - 0.7%
Bristol Industrial Development Board (Bristol Industrial Development Board Sales Tax)
Series 2016A
5.125%, 12/01/42 (a)(b)		280		266,101
Memphis-Shelby County Industrial Development Board (Graceland, Inc.)
Series 2017A
5.50%, 7/01/37 (a)		100		105,013
Metropolitan Government Nashville & Davidson County Health & Educational Facs Board (Trousdale Foundation Obligated Group)
Series 2018A
6.25%, 4/01/49 (a)(b)		100		97,600
Tennessee Housing Development Agency
Series 2017
4.00%, 7/01/48		295		308,449
				777,163
Texas - 3.2%
City of Houston TX
Series 2017A
5.00%, 3/01/26		405		469,958
Harris County-Houston Sports Authority
AGM Series 2014A
5.00%, 11/15/25		615		691,365
Irving Hospital Authority
Series 2017A
5.00%, 10/15/44		500		529,370

	Principal Amount (000)		U.S. $ Value
New Hope Cultural Education Facilities Finance Corp. (Longhorn Village)
Series 2017
5.00%, 1/01/37 (a)	$	325	$	326,917
Red River Education Finance Corp. (St. Edward’s University, Inc.)
Series 2016
5.00%, 6/01/46		90		95,837
Tarrant County Cultural Education Facilities Finance Corp. (CC Young Memorial Home Obligated Group)
Series 2017A
6.375%, 2/15/48 (a)		230		244,515
Tarrant County Cultural Education Facilities Finance Corp. (Trinity Terrace Project)
Series 2014A-1
5.00%, 10/01/44		300		311,799
Uptown Development Authority
Series 2017A
5.00%, 9/01/40		625		664,512
				3,334,273
Vermont - 0.4%
Vermont Economic Development Authority (Casella Waste Systems, Inc.)
Series 2013
4.625%, 4/01/36 (b)		100		97,224
Vermont Economic Development Authority (Wake Robin Corp.)
Series 2017A
5.00%, 5/01/47 (a)		335		348,507
				445,731
Virginia - 1.0%
Henrico County Economic Development Authority (LifeSpire of Virginia Obligated Group)
Series 2017C
5.00%, 12/01/47 (a)		325		332,322
Richmond Redevelopment & Housing Authority (American Tobacco Holdings LLC)
Series 2017
5.55%, 1/01/37 (a)(b)		220		220,132
Tobacco Settlement Financing Corp./VA
Series 2007B1
5.00%, 6/01/47		510		483,404
				1,035,858
Washington - 1.4%
Kalispel Tribe of Indians
Series 2018B
5.25%, 1/01/38 (a)(b)(g)		155		160,307
King County Public Hospital District No. 1
5.00%, 12/01/31 (g)		265		298,459

	Principal Amount (000)		U.S. $ Value
Washington Health Care Facilities Authority (Virginia Mason Medical Center Obligated Group)
Series 2017
5.00%, 8/15/37	$	355	$	374,695
Washington State Housing Finance Commission (Mirabella)
Series 2012A
6.75%, 10/01/47 (a)(b)		340		361,910
Washington State Housing Finance Commission (Presbyterian Retirement Communities Northwest Obligated Group)
Series 2016A
5.00%, 1/01/46 (b)		315		324,910
				1,520,281
West Virginia - 0.1%
West Virginia Economic Development Authority (Morgantown Energy Associates)
Series 2016
2.875%, 12/15/26		100		95,886
Wisconsin - 2.0%
City of Milwaukee WI
Series 2018N
5.00%, 4/01/22		865		944,165
Wisconsin Public Finance Authority (American Dream at Meadowlands Project)
Series 2017
7.00%, 12/01/50 (a)(b)		175		196,726
Wisconsin Public Finance Authority (Bancroft Neurohealth/Bancroft Rehabilitation Services Obligated Group)
Series 2016
5.125%, 6/01/48 (a)(b)		160		158,915
Wisconsin Public Finance Authority (Celanese US Holdings LLC)
Series 2016A
5.00%, 1/01/24 (b)		265		284,220
Wisconsin Public Finance Authority (Gannon University)
Series 2017
5.00%, 5/01/42-5/01/47		410		429,604
Wisconsin Public Finance Authority (Maryland Proton Treatment Center LLC)
Series 2018A-1
6.375%, 1/01/48 (a)(b)		100		101,452
				2,115,082
Total Municipal Obligations (cost $58,679,804)				58,529,504

Company	Shares		U.S. $ Value
COMMON STOCKS - 23.3%
Health Care - 4.6%
Biotechnology - 0.7%
AbbVie, Inc.		4,411	$	415,825
Gilead Sciences, Inc.		3,769		271,142
				686,967
Health Care Providers & Services - 0.3%
Cardinal Health, Inc.		847		46,441
CVS Health Corp.		3,724		298,665
Sonic Healthcare Ltd.		1,123		18,778
				363,884
Pharmaceuticals - 3.6%
AstraZeneca PLC		3,742		291,386
Bristol-Myers Squibb Co.		4,748		253,828
GlaxoSmithKline PLC		14,731		305,373
Merck & Co., Inc.		7,751		614,964
Novartis AG		6,346		579,399
Orion Oyj-Class B		187		6,242
Pfizer, Inc.		17,158		793,214
Roche Holding AG		2,056		533,705
Sanofi		3,675		333,177
Takeda Pharmaceutical Co., Ltd.		2,096		78,905
				3,790,193
				4,841,044
Consumer Staples - 4.2%
Beverages - 1.0%
Coca-Cola Co. (The)		11,826		596,030
PepsiCo, Inc.		4,136		504,344
				1,100,374
Food & Staples Retailing - 0.1%
Coles Group Ltd. (d)		3,413		29,211
ICA Gruppen AB		166		6,022
Jeronimo Martins SGPS SA		636		7,596
Koninklijke Ahold Delhaize NV		3,826		98,597
Lawson, Inc.		99		6,489
Lenta Ltd. (GDR) (b)(d)		1		3
				147,918
Food Products - 1.0%
Archer-Daniels-Midland Co.		1,618		74,460
Campbell Soup Co.		560		21,952
General Mills, Inc.		1,681		71,123
Marine Harvest ASA		1,219		28,528
Nestle SA		8,967		765,002
Orkla ASA		3,037		25,153
WH Group Ltd. (b)		32,164		23,483
				1,009,701
Household Products - 0.8%
Kimberly-Clark Corp.		1,054		121,600

Company	Shares		U.S. $ Value
Procter & Gamble Co. (The)		7,245	$	684,725
				806,325
Personal Products - 0.4%
Unilever NV		4,447		246,783
Unilever PLC		3,528		191,197
				437,980
Tobacco - 0.9%
Altria Group, Inc.		5,509		302,059
Imperial Brands PLC		2,864		88,280
Japan Tobacco, Inc.		4,023		100,053
Philip Morris International, Inc.		4,523		391,375
Swedish Match AB		524		20,479
				902,246
				4,404,544
Financials - 2.6%
Banks - 1.0%
Bank of Nova Scotia (The)		3,679		200,197
BOC Hong Kong Holdings Ltd.		13,616		53,312
Canadian Imperial Bank of Commerce		1,313		110,187
DBS Group Holdings Ltd.		5,678		101,397
Hang Seng Bank Ltd.		2,276		52,708
Oversea-Chinese Banking Corp., Ltd.		9,958		82,113
People’s United Financial, Inc.		1,116		18,819
Regions Financial Corp.		3,227		53,094
Royal Bank of Canada		4,197		307,735
United Overseas Bank Ltd.		4,228		77,632
				1,057,194
Capital Markets - 0.3%
3i Group PLC		3,068		32,773
Amundi SA (b)		235		13,505
ASX Ltd.		578		25,549
CI Financial Corp.		414		6,270
CME Group, Inc.-Class A		1,092		207,567
Eaton Vance Corp.		346		14,094
IGM Financial, Inc.		243		6,234
Investec PLC		1,962		11,961
Schroders PLC		186		6,020
Singapore Exchange Ltd.		2,352		12,596
				336,569
Diversified Financial Services - 0.0%
Standard Life Aberdeen PLC		7,459		25,340
Insurance - 1.3%
Admiral Group PLC		789		20,996
Allianz SE		1,273		269,942
American Financial Group, Inc./OH		233		23,850
Assicurazioni Generali SpA		3,634		61,333
Baloise Holding AG		135		19,865
Cincinnati Financial Corp.		414		33,836
Direct Line Insurance Group PLC		3,771		15,800
Fidelity National Financial, Inc.		852		28,627
Great-West Lifeco, Inc.		1,064		24,401

Company	Shares		U.S. $ Value
Hannover Rueck SE		177	$	24,666
Industrial Alliance Insurance & Financial Services, Inc.		169		6,178
Insurance Australia Group Ltd.		7,405		39,525
Legal & General Group PLC		18,086		56,640
Manulife Financial Corp.		5,904		97,626
Mapfre SA		2,158		6,170
Medibank Pvt Ltd.		9,393		16,671
MS&AD Insurance Group Holdings, Inc.		1,324		40,183
Power Corp. of Canada		1,025		20,444
Power Financial Corp.		898		18,999
Principal Financial Group, Inc.		832		41,034
Sampo Oyj-Class A		1,259		56,288
SCOR SE		637		30,607
Sun Life Financial, Inc.		1,765		65,092
Swiss Life Holding AG (d)		103		40,470
Tokio Marine Holdings, Inc.		2,008		99,192
Tryg A/S		382		9,511
Zurich Insurance Group AG		457		143,647
				1,311,593
				2,730,696
Industrials - 2.3%
Aerospace & Defense - 0.3%
BAE Systems PLC		9,204		57,859
Lockheed Martin Corp.		742		222,919
Meggitt PLC		2,733		18,119
Singapore Technologies Engineering Ltd.		2,467		6,402
				305,299
Air Freight & Logistics - 0.3%
Deutsche Post AG		2,898		92,629
Kuehne & Nagel International AG		149		20,978
United Parcel Service, Inc.-Class B		2,029		233,923
				347,530
Airlines - 0.0%
easyJet PLC		414		5,899
Japan Airlines Co., Ltd.		472		17,043
				22,942
Building Products - 0.1%
Cie de Saint-Gobain		1,700		63,184
Commercial Services & Supplies - 0.0%
Brambles Ltd.		4,937		37,208
G4S PLC		3,452		8,553
				45,761
Construction & Engineering - 0.2%
ACS Actividades de Construccion y Servicios SA		737		28,274
Bouygues SA		769		29,598
CIMIC Group Ltd.		196		5,817
Skanska AB-Class B		1,144		18,025
Vinci SA		1,715		149,650
				231,364

Company	Shares		U.S. $ Value
Electrical Equipment - 0.4%
ABB Ltd.		5,773	$	117,047
Eaton Corp. PLC		1,330		102,330
Emerson Electric Co.		1,937		130,786
Schneider Electric SE		1,832		133,536
				483,699
Industrial Conglomerates - 0.3%
CK Hutchison Holdings Ltd.		7,998		83,893
NWS Holdings Ltd.		2,867		6,045
Siemens AG		2,220		258,353
Smiths Group PLC		1,149		20,450
				368,741
Machinery - 0.4%
Amada Holdings Co., Ltd.		565		6,133
ANDRITZ AG		258		12,459
Atlas Copco AB-Class A		1,965		48,176
Atlas Copco AB-Class B SHS		1,142		25,815
Cummins, Inc.		455		68,732
Komatsu Ltd.		2,703		72,236
Kone Oyj-Class B		957		47,470
NSK Ltd.		650		6,111
PACCAR, Inc.		1,000		62,220
SKF AB-Class B		1,360		21,521
Wartsila Oyj Abp		1,353		22,075
				392,948
Professional Services - 0.1%
Randstad NV		437		21,342
SGS SA		15		35,585
				56,927
Road & Rail - 0.0%
Aurizon Holdings Ltd.		7,064		21,813
ComfortDelGro Corp., Ltd.		4,077		6,262
				28,075
Trading Companies & Distributors - 0.1%
ITOCHU Corp.		4,005		71,288
Transportation Infrastructure - 0.1%
Aena SME SA (b)		209		33,249
Auckland International Airport Ltd.		3,438		17,054
SATS Ltd.		1,813		6,334
				56,637
				2,474,395
Communication Services - 2.3%
Diversified Telecommunication Services - 1.7%
AT&T, Inc.		21,255		664,006
BCE, Inc.		412		17,660
BT Group PLC		24,519		82,051
Elisa Oyj		374		15,016
HKT Trust & HKT Ltd.-Class SS		13,845		20,054
Nippon Telegraph & Telephone Corp.		2,025		83,503
Singapore Telecommunications Ltd.		24,215		54,455

Company	Shares		U.S. $ Value
Spark New Zealand Ltd.		6,458	$	18,809
Swisscom AG		68		32,663
Telenor ASA		2,329		45,177
TELUS Corp.		540		19,383
Verizon Communications, Inc.		12,094		729,268
				1,782,045
Media - 0.2%
Axel Springer SE		93		5,946
Eutelsat Communications SA		872		18,638
Interpublic Group of Cos., Inc. (The)		1,152		27,072
ITV PLC		9,763		18,119
Omnicom Group, Inc.		666		51,262
ProSiebenSat.1 Media SE		649		13,183
Publicis Groupe SA		674		40,035
RTL Group SA		102		6,104
Shaw Communications, Inc.-Class B		1,222		23,002
WPP PLC		3,495		38,580
				241,941
Wireless Telecommunication Services - 0.4%
1&1 Drillisch AG		121		6,083
KDDI Corp.		5,143		120,844
NTT DOCOMO, Inc.		3,831		88,878
Rogers Communications, Inc.-Class B		1,052		56,113
Vodafone Group PLC		79,129		170,969
				442,887
				2,466,873
Energy - 1.9%
Oil, Gas & Consumable Fuels - 1.9%
Enagas SA		661		18,188
Exxon Mobil Corp.		12,392		985,164
Galp Energia SGPS SA		1,479		24,345
Keyera Corp.		774		16,952
Koninklijke Vopak NV		141		6,163
Marathon Petroleum Corp.		2,081		135,598
Phillips 66		1,291		120,734
Snam SpA		5,803		25,463
TOTAL SA		7,779		432,666
TransCanada Corp.		2,602		106,634
Valero Energy Corp.		1,305		104,269
				1,976,176
				1,976,176
Utilities - 1.6%
Electric Utilities - 1.0%
Alliant Energy Corp.		639		29,004
American Electric Power Co., Inc.		1,461		113,578
CK Infrastructure Holdings Ltd.		2,575		19,604
CLP Holdings Ltd.		4,847		53,506
Duke Energy Corp.		2,126		188,300
Edison International		917		50,728
EDP - Energias de Portugal SA		8,217		28,717
Endesa SA		1,174		26,229
Eversource Energy		923		63,078
Fortis, Inc./Canada		1,320		45,849

Company	Shares		U.S. $ Value
Iberdrola SA		17,207	$	128,723
OGE Energy Corp.		531		21,038
Pinnacle West Capital Corp.		325		29,042
Power Assets Holdings Ltd.		4,254		28,866
PPL Corp.		2,035		62,251
Red Electrica Corp. SA		1,264		27,284
SSE PLC		2,797		39,213
Terna Rete Elettrica Nazionale SpA		3,992		22,374
Xcel Energy, Inc.		1,426		74,794
				1,052,178
Multi-Utilities - 0.6%
Ameren Corp.		675		46,318
CMS Energy Corp.		840		43,756
Consolidated Edison, Inc.		880		70,708
DTE Energy Co.		525		62,863
E.ON SE		6,830		69,817
Innogy SE (b)		507		23,214
National Grid PLC		9,611		102,597
Public Service Enterprise Group, Inc.		1,463		81,782
Sempra Energy		800		92,176
WEC Energy Group, Inc.		931		67,479
				660,710
				1,712,888
Consumer Discretionary - 1.5%
Auto Components - 0.1%
Bridgestone Corp.		1,824		74,163
Cie Generale des Etablissements Michelin SCA-Class B		590		61,827
Nokian Renkaat Oyj		439		14,088
				150,078
Automobiles - 0.5%
Bayerische Motoren Werke AG		961		78,911
Bayerische Motoren Werke AG (Preference Shares)		84		6,097
Daimler AG		2,720		153,787
General Motors Co.		3,838		145,652
Nissan Motor Co., Ltd.		6,548		57,416
Subaru Corp.		1,867		41,574
Yamaha Motor Co., Ltd.		819		16,850
				500,287
Distributors - 0.0%
Genuine Parts Co.		405		42,003
Diversified Consumer Services - 0.0%
H&R Block, Inc.		499		13,478
Hotels, Restaurants & Leisure - 0.3%
Carnival Corp.		1,221		73,614
Carnival PLC		508		29,627
Crown Resorts Ltd.		710		6,073
Darden Restaurants, Inc.		339		37,473
GVC Holdings PLC		1,608		15,146
Las Vegas Sands Corp.		1,151		63,236
Sands China Ltd.		7,638		33,307

Company	Shares		U.S. $ Value
Sodexo SA		281	$	29,081
TUI AG		1,306		18,657
				306,214
Household Durables - 0.2%
Barratt Developments PLC		2,752		16,272
Electrolux AB-Class B		683		15,545
Garmin Ltd.		343		22,865
Iida Group Holdings Co., Ltd.		339		5,996
Leggett & Platt, Inc.		342		13,249
Persimmon PLC		933		22,677
Sekisui House Ltd.		2,060		31,092
Taylor Wimpey PLC		9,380		16,089
Whirlpool Corp.		189		23,839
				167,624
Multiline Retail - 0.3%
Kohl’s Corp.		442		29,689
Macy’s, Inc.		783		26,794
Marks & Spencer Group PLC		5,528		20,658
Next PLC		443		27,661
Nordstrom, Inc.		325		17,183
Target Corp.		1,576		111,833
Wesfarmers Ltd.		3,413		79,041
				312,859
Specialty Retail - 0.1%
Gap, Inc. (The)		648		17,684
Kingfisher PLC		6,591		20,993
L Brands, Inc.		690		22,848
				61,525
Textiles, Apparel & Luxury Goods - 0.0%
Hanesbrands, Inc.		1,118		17,787
Tapestry, Inc.		775		30,171
				47,958
				1,602,026
Information Technology - 1.2%
Communications Equipment - 0.6%
Cisco Systems, Inc.		13,765		658,930
IT Services - 0.4%
International Business Machines Corp.		2,662		330,807
Paychex, Inc.		894		63,259
Western Union Co. (The)-Class W		1,355		25,379
				419,445
Semiconductors & Semiconductor Equipment - 0.1%
Maxim Integrated Products, Inc.		811		45,351
Tokyo Electron Ltd.		459		64,204
				109,555
Technology Hardware, Storage & Peripherals - 0.1%
Canon, Inc.		2,971		84,311

Company	Shares		U.S. $ Value
Seagate Technology PLC		816	$	35,162
				119,473
				1,307,403
Materials - 0.9%
Chemicals - 0.5%
BASF SE		2,657		194,299
Covestro AG (b)		563		32,423
EMS-Chemie Holding AG		24		12,891
Evonik Industries AG		582		15,718
LyondellBasell Industries NV-Class A		948		88,458
Mitsubishi Chemical Holdings Corp.		3,747		30,658
Mitsubishi Gas Chemical Co., Inc.		375		6,159
Nutrien Ltd.		1,885		97,098
Solvay SA		230		24,916
Sumitomo Chemical Co., Ltd.		4,361		23,670
				526,290
Construction Materials - 0.0%
Boral Ltd.		3,431		12,792
Containers & Packaging - 0.1%
Amcor Ltd./Australia		3,673		36,128
International Paper Co.		1,078		49,793
				85,921
Metals & Mining - 0.2%
Boliden AB		801		17,944
Fortescue Metals Group Ltd.		4,494		13,197
Norsk Hydro ASA		2,899		13,699
Rio Tinto Ltd.		1,222		65,813
Rio Tinto PLC		3,417		156,164
voestalpine AG		186		6,181
				272,998
Paper & Forest Products - 0.1%
Stora Enso Oyj-Class R		1,697		21,693
UPM-Kymmene Oyj		1,579		42,175
				63,868
				961,869
Real Estate - 0.2%
Real Estate Management & Development - 0.2%
Daito Trust Construction Co., Ltd.		260		34,004
First Capital Realty, Inc.		409		6,078
Hang Lung Properties Ltd.		3,402		6,907
Henderson Land Development Co., Ltd.		4,761		24,556
LendLease Group		1,999		18,567
New World Development Co., Ltd.		16,979		22,939
Sino Land Co., Ltd.		10,511		18,145
Sun Hung Kai Properties Ltd.		4,940		70,624
Swire Properties Ltd.		3,425		11,944
Swiss Prime Site AG (d)		172		14,213
				227,977
Total Common Stocks (cost $23,841,701)				24,705,891

	Shares		U.S. $ Value
PREFERRED STOCKS - 6.4%
Real Estate - 6.4%
Diversified REITs - 1.4%
Colony Capital, Inc.
Series H
7.125%		8,400	$	170,520
Colony Capital, Inc.
Series I
7.15%		10,750		219,300
Global Net Lease, Inc.
Series A
7.25%		5,900		146,320
Investors Real Estate Trust
Series C
6.625%		1,675		40,284
PS Business Parks, Inc.
Series X
5.25%		10,000		209,200
PS Business Parks, Inc.
Series Y
5.20%		1,050		21,808
Spirit Realty Capital, Inc.
Series A
6.00%		6,800		149,668
VEREIT, Inc.
Series F
6.70%		18,500		446,405
Vornado Realty Trust
Series K
5.70%		1,600		35,792
				1,439,297
Hotel & Resort REITs - 1.1%
Ashford Hospitality Trust, Inc.
Series F
7.375%		9,475		206,650
Ashford Hospitality Trust, Inc.
Series G
7.375%		1,000		21,600
Hersha Hospitality Trust
Series C
6.875%		1,000		22,170
Hersha Hospitality Trust
Series E
6.50%		12,600		257,670
LaSalle Hotel Properties
Series I
6.375%		4,250		98,387
LaSalle Hotel Properties
Series J
6.30%		5,600		123,760
Pebblebrook Hotel Trust
Series C
6.50%		9,900		231,660

Company	Shares		U.S. $ Value
Summit Hotel Properties, Inc.
Series E
6.25%		10,500	$	221,025
				1,182,922
Industrial REITs - 0.3%
Monmouth Real Estate Investment Corp.
Series C
6.125%		9,500		214,605
Rexford Industrial Realty, Inc.
Series B
5.875%		6,850		156,865
				371,470
Office REITs - 0.2%
Boston Properties, Inc.
Series B
5.25%		3,100		68,510
SL Green Realty Corp.
Series I
6.50%		7,100		174,802
				243,312
Residential REITs - 0.8%
American Homes 4 Rent
Series E
6.35%		4,725		107,636
American Homes 4 Rent
Series F
5.875%		9,600		207,360
Apartment Investment & Management Co.
Series A
6.875%		9,400		241,956
UMH Properties, Inc.
Series C
6.75%		10,300		232,780
UMH Properties, Inc.
Series D
6.375%		2,000		44,600
				834,332
Retail REITs - 1.7%
Brookfield Property REIT, Inc.
Series A
6.375%		11,025		263,828
Cedar Realty Trust, Inc.
Series C
6.50%		9,475		189,026
Federal Realty Investment Trust
Series C
5.00%		3,500		72,765
Kimco Realty Corp.
Series J
5.50%		10,200		211,446

Company	Shares		U.S. $ Value
Pennsylvania Real Estate Investment Trust
Series D
6.875%		3,000	$	61,830
Saul Centers, Inc.
Series C
6.875%		375		9,141
Saul Centers, Inc.
Series D
6.125%		10,000		219,900
SITE Centers Corp.
Series A
6.375%		15,800		358,818
Taubman Centers, Inc.
Series J
6.50%		7,050		172,020
Urstadt Biddle Properties, Inc.
Series G
6.75%		1,325		32,264
Urstadt Biddle Properties, Inc.
Series H
6.25%		8,375		187,935
Washington Prime Group, Inc.
Series H
7.50%		750		14,805
				1,793,778
Specialized REITs - 0.9%
Digital Realty Trust, Inc.
Series C
6.625%		9,100		237,510
Digital Realty Trust, Inc.
Series G
5.875%		7,800		189,150
EPR Properties
Series G
5.75%		5,575		118,748
National Storage Affiliates Trust
Series A
6.00%		3,000		69,810
Public Storage
Series C
5.125%		8,200		178,760
Public Storage
Series G
5.05%		6,000		131,100
				925,078
Total Preferred Stocks (cost $7,584,584)				6,790,189
INVESTMENT COMPANIES - 4.7%
Funds and Investment Trusts - 4.7% (j)
Invesco KBW Premium Yield Equity REIT ETF		9,208		287,382
iShares International Developed Real Estate ETF		4,416		123,736
iShares Mortgage Real Estate ETF		40,020		1,743,671
JPMorgan Alerian MLP Index ETN		109,167		2,682,233
Vanguard Real Estate ETF		2,068		169,535
Total Investment Companies (cost $5,330,282)				5,006,557

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 5.0%
Investment Companies – 5.0%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 2.13% (h)(i)(j) (cost $5,271,362)		5,271,362	$	5,271,362
Total Investments – 94.6% (cost $100,707,733) (k)				100,303,503
Other assets less liabilities – 5.4%				5,676,682
Net Assets - 100.0%			$	105,980,185

FUTURES

Description	Number of Contracts		Expiration Month		Notional (000)				Original Value		Value at November 30, 2018		Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Amsterdam Index Futures		1		December 2018		EUR	– 0	–**	$	119,179	$	117,553	$	(1,626	)
DAX Index Futures		1		December 2018		EUR	– 0	–**		337,434		318,347		(19,087	)
Euro STOXX 50 Index Futures		49		December 2018		EUR	– 0	–**		1,850,389		1,754,608		(95,781	)
Euro-CAC40 10 Futures		11		December 2018		EUR	– 0	–**		631,638		621,410		(10,228	)
FTSE 100 Index Futures		19		December 2018		GBP	– 0	–**		1,737,370		1,687,248		(50,122	)
FTSE/MIB Index Futures		1		December 2018		EUR	– 0	–**		118,986		108,534		(10,452	)
IBEX 35 Index Futures		1		December 2018		EUR	– 0	–**		102,533		102,352		(181	)
OMXS30 Index Futures		22		December 2018		SEK	2			367,465		365,392		(2,073	)
S&P 500 E-Mini Futures		58		December 2018		USD	3			8,303,779		7,999,070		(304,709	)
S&P TSX 60 Index Futures		3		December 2018		CAD	1			428,890		412,163		(16,727	)
SPI 200 Futures		5		December 2018		AUD	– 0	–**		563,991		518,391		(45,600	)
TOPIX Index Futures		15		December 2018		JPY	150			2,252,035		2,204,114		(47,921	)
U.S. T-Note 10 Yr (CBT) Futures		101		March 2019		USD	10,100			12,039,792		12,064,766		24,974
Sold Contracts
10 Yr Australian Bond Futures		24		December 2018		AUD	2,400			2,266,586		2,277,278		(10,692	)
Canadian 10 Yr Bond Futures		5		March 2019		CAD	500			498,130		501,599		(3,469	)
Euro-Bund Futures		8		December 2018		EUR	800			1,450,925		1,463,036		(12,111	)
Hang Seng Index Futures		6		December 2018		HKD	– 0	–**		1,007,910		1,017,293		(9,383	)
Long Gilt Futures		21		March 2019		GBP	2,100			3,270,391		3,281,756		(11,365	)
MSCI Singapore Index Futures		26		December 2018		SGD	3			653,035		660,566		(7,531	)
S&P 500 E-Mini Futures		13		December 2018		USD	1			1,881,570		1,792,895		88,675
S&P TSX 60 Index Futures		2		December 2018		CAD	– 0	–**		285,939		274,775		11,164
SPI 200 Futures		4		December 2018		AUD	– 0	–**		440,146		414,713		25,433
													$	(508,812	)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA	BRL	1,453	USD$	376		12/04/18	$	360
Bank of America, NA	USD	394	BRL	1,453		12/04/18		(18,678	)
Bank of America, NA	USD	648	RUB	43,228		12/14/18		(4,123	)
Barclays Bank PLC	COP	1,051,689	USD	334		12/20/18		9,223
Barclays Bank PLC	INR	75,369	USD	1,065		12/13/18		(15,225	)

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC	CNY	4,234	USD	607		1/24/19	$	(1,185	)
Barclays Bank PLC	TRY	2,288	USD	340		12/14/18		(95,731	)
Barclays Bank PLC	CHF	749	USD	757		12/14/18		6,623
Barclays Bank PLC	USD	593	CAD	774		12/14/18		(10,117	)
Barclays Bank PLC	USD	598	NZD	916		12/14/18		32,131
Barclays Bank PLC	USD	156	TWD	4,801		12/11/18		(735	)
Barclays Bank PLC	USD	596	NOK	4,990		3/15/19		(12,855	)
Barclays Bank PLC	USD	602	PHP	32,771		12/11/18		21,822
Barclays Bank PLC	USD	243	RUB	16,455		12/14/18		2,241
BNP Paribas SA	USD	1,039	CHF	1,042		12/14/18		5,088
BNP Paribas SA	USD	1,011	NZD	1,570		12/14/18		68,794
Citibank, NA	KRW	808,168	USD	720		2/20/19		(3,559	)
Citibank, NA	CLP	358,567	USD	529		12/20/18		(4,802	)
Citibank, NA	BRL	1,664	USD	443		12/04/18		13,012
Citibank, NA	EUR	1,699	USD	1,985		12/14/18		59,063
Citibank, NA	USD	431	BRL	1,664		12/04/18		(412	)
Citibank, NA	USD	732	EUR	623		12/14/18		(26,025	)
Citibank, NA	USD	979	JPY	110,272		12/14/18		(6,439	)
Citibank, NA	USD	1,647	INR	114,891		12/13/18		(344	)
Credit Suisse International	AUD	1,149	USD	812		12/14/18		(27,956	)
Credit Suisse International	EUR	681	USD	798		12/14/18		26,155
Credit Suisse International	USD	528	SEK	4,796		12/14/18		(1,184	)
Credit Suisse International	USD	534	HUF	149,400		12/14/18		(10,838	)
Deutsche Bank AG	USD	237	PEN	799		12/20/18		(653	)
Goldman Sachs Bank USA	SEK	9,238	USD	1,032		3/15/19		8,270
Goldman Sachs Bank USA	PEN	2,048	USD	609		12/20/18		3,333
Goldman Sachs Bank USA	CAD	774	USD	596		12/14/18		13,762
Goldman Sachs Bank USA	GBP	489	USD	639		12/14/18		15,971
Goldman Sachs Bank USA	USD	653	NOK	5,399		12/14/18		(24,229	)
Goldman Sachs Bank USA	USD	589	MXN	11,409		12/14/18		(29,332	)
Morgan Stanley & Co., Inc.	SEK	8,435	USD	940		12/14/18		12,543
Morgan Stanley & Co., Inc.	GBP	468	USD	611		12/14/18		14,786
Morgan Stanley & Co., Inc.	BRL	211	USD	55		12/04/18		52
Morgan Stanley & Co., Inc.	BRL	211	USD	54		1/03/19		(329	)
Morgan Stanley & Co., Inc.	USD	210	GBP	160		12/14/18		(5,829	)
Morgan Stanley & Co., Inc.	USD	54	BRL	211		12/04/18		311
Morgan Stanley & Co., Inc.	USD	566	AUD	794		12/14/18		14,673
Morgan Stanley & Co., Inc.	USD	522	JPY	57,773		12/14/18		(12,302	)
Nomura Global Financial Products, Inc.	THB	6,509	USD	199		12/14/18		767
Standard Chartered Bank	TWD	28,193	USD	920		12/11/18		5,905
Standard Chartered Bank	USD	695	IDR	10,625,066		1/29/19		41,297
State Street Bank & Trust Co.	HUF	66,304	USD	235		12/14/18		2,765
State Street Bank & Trust Co.	CZK	10,264	USD	459		12/14/18		11,624
State Street Bank & Trust Co.	JPY	6,492	USD	57		12/14/18		(27	)
State Street Bank & Trust Co.	MXN	5,860	USD	306		12/14/18		18,089
State Street Bank & Trust Co.	ZAR	2,069	USD	142		3/15/19		(5,041	)
State Street Bank & Trust Co.	NOK	1,443	USD	174		12/14/18		6,092
State Street Bank & Trust Co.	CHF	1,079	USD	1,120		12/14/18		38,678
State Street Bank & Trust Co.	NZD	755	USD	505		12/14/18		(14,408	)
State Street Bank & Trust Co.	CAD	975	USD	750		12/14/18		15,760
State Street Bank & Trust Co.	AUD	526	USD	373		12/14/18		(11,143	)
State Street Bank & Trust Co.	PLN	311	USD	84		12/14/18		1,631
State Street Bank & Trust Co.	GBP	219	USD	286		12/14/18		6,628
State Street Bank & Trust Co.	CAD	177	USD	134		3/15/19		847

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.	EUR	28	USD	32		3/15/19	$	139
State Street Bank & Trust Co.	ZAR	13	USD	1		12/14/18		(86	)
State Street Bank & Trust Co.	USD	557	AUD	770		12/14/18		6,239
State Street Bank & Trust Co.	USD	284	CHF	272		12/14/18		(10,986	)
State Street Bank & Trust Co.	USD	336	CAD	435		12/14/18		(8,944	)
State Street Bank & Trust Co.	USD	814	GBP	621		12/14/18		(22,655	)
State Street Bank & Trust Co.	USD	166	NOK	1,379		12/14/18		(5,822	)
State Street Bank & Trust Co.	USD	592	TRY	3,835		12/14/18		138,841
State Street Bank & Trust Co.	USD	271	MXN	5,276		12/14/18		(11,769	)
State Street Bank & Trust Co.	USD	267	MXN	5,547		3/15/19		800
UBS AG	USD	394	EUR	335		12/14/18		(14,349	)
							$	206,203

CALL OPTIONS WRITTEN

Description	Counterparty	Contracts		Exercise Price		Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index (l)	Citibank, NA		290	EUR	3,100.00		December 2018	EUR	– 0	–**	$	24,759	$	(30,565	)
FTSE 100 Index (l)	Citibank, NA		60	GBP	7,100.00		December 2018	GBP	– 0	–**		8,618		(4,098	)
Nikkei 225 Index (l)	Goldman Sachs International		3,000	JPY	21,625.00		December 2018	JPY	3			18,579		(23,058	)
S&P 500 Index (l)	Goldman Sachs International		200	USD	2,690.00		December 2018	USD	– 0	–**		8,071		(18,892	)
S&P 500 Index (l)	Goldman Sachs International		1,000	USD	2,690.00		December 2018	USD	1			42,601		(94,461	)
											$	102,628	$	(171,074	)

PUT OPTIONS WRITTEN

Description	Counterparty	Contracts		Exercise Price		Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index (l)	Citibank, NA		290	EUR	3,100.00		December 2018	EUR	– 0	–**	$	16,506	$	(9,877	)
FTSE 100 Index (l)	Citibank, NA		60	GBP	7,100.00		December 2018	GBP	– 0	–**		11,961		(13,194	)
Nikkei 225 Index (l)	Goldman Sachs International		3,000	JPY	21,625.00		December 2018	JPY	3			21,192		(3,696	)
S&P 500 Index (l)	Goldman Sachs International		200	USD	2,690.00		December 2018	USD	– 0	–**		16,562		(4,938	)
S&P 500 Index (l)	Goldman Sachs International		1,000	USD	2,690.00		December 2018	USD	1			71,770		(24,688	)
											$	137,991	$	(56,393	)

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)
NOK	7,850		4/27/27	6 Month NIBOR		1.935	%	Semi-Annual/Annual	$	(2,059	)	$	– 0	–	$	(2,059	)
NOK	3,430		12/06/27	6 Month NIBOR		1.795	%	Semi-Annual/Annual		(6,417	)		– 0	–		(6,417	)
NOK	2,830		5/15/28	6 Month NIBOR		2.234	%	Semi-Annual/Annual		5,990			– 0	–		5,990
SEK	1,770		6/08/28	3 Month STIBOR		1.178	%	Quarterly/Annual		2,845			– 0	–		2,845
NOK	5,160		7/12/28	6 Month NIBOR		2.145	%	Semi-Annual/Annual		758			– 0	–		758
CHF	480		7/12/28	6 Month LIBOR		0.403	%	Semi-Annual/Annual		3,117			– 0	–		3,117
NOK	980		9/10/28	6 Month NIBOR		2.168	%	Semi-Annual/Annual		210			– 0	–		210
CHF	520		9/10/28	6 Month LIBOR		0.400	%	Semi-Annual/Annual		791			– 0	–		791
NOK	1,390		10/11/28	6 Month NIBOR		2.396	%	Semi-Annual/Annual		3,473			– 0	–		3,473
NOK	9,670		11/13/28	6 Month NIBOR		2.322	%	Semi-Annual/Annual		14,525			– 0	–		14,525
SEK	7,180		11/13/28	3 Month STIBOR		1.273	%	Quarterly/Annual		11,371			– 0	–		11,371
CHF	980		11/13/28	6 Month LIBOR		0.510	%	Semi-Annual/Annual		10,713			– 0	–		10,713
NZD	640		11/13/28	3 Month BKBM		3.105	%	Quarterly/Semi-Annual		9,368			– 0	–		9,368
									$	54,685		$	– 0	–	$	54,685

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2018			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00	%		Monthly		7.61	%		USD	8	$	(1,145	)	$	(818	)	$	(327	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.61			USD	70		(10,018	)		(9,234	)		(784	)
Credit Suisse International

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency				Implied Credit Spread at November 30, 2018		Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00	%		Monthly	7.61	%		USD		4	$	(573	)	$	(512	)	$	(61	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		3		(430	)		(310	)		(120	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		54		(7,723	)		(5,579	)		(2,144	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		138		(19,750	)		(17,538	)		(2,212	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		81		(11,592	)		(8,154	)		(3,438	)
Goldman Sachs International
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		149		(21,312	)		(22,114	)		802
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		7		(1,002	)		(920	)		(82	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		26		(3,722	)		(3,416	)		(306	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly	7.61			USD		69		(9,875	)		(6,742	)		(3,133	)
												$	(87,142	)	$	(75,337	)	$	(11,805	)

* Termination date

INFLATION (CPI) SWAPS

						Rate Type
Swap Counterparty	Notional Amount (000)			Termination Date		Payments made by the Fund			Payments received by the Fund			Payment Frequency Paid/ Received	Unrealized Appreciation/ (Depreciation)
Barclays Bank PLC		USD	1,864		8/31/20		2.235	%		CPI	#	Maturity/Maturity	$	(17,850	)
Barclays Bank PLC		USD	1,865		9/04/20		2.248	%		CPI	#	Maturity/Maturity		(17,834	)
Barclays Bank PLC		USD	2,083		9/20/20		2.263	%		CPI	#	Maturity/Maturity		(19,609	)
Barclays Bank PLC		USD	2,079		10/15/20		2.208	%		CPI	#	Maturity/Maturity		(16,117	)
Barclays Bank PLC		USD	1,067		10/15/20		2.210	%		CPI	#	Maturity/Maturity		(8,324	)
Citibank, NA		USD	1,520		10/17/20		2.220	%		CPI	#	Maturity/Maturity		(11,954	)

Rate Type

Swap Counterparty

Notional Amount (000)

Termination Date

Payments made by the Fund

Payments received by the Fund

Payment Frequency Paid/ Received

Unrealized Appreciation/ (Depreciation)

JPMorgan Chase Bank, NA

USD

1,911

8/30/20

2.210

%

CPI

#

Maturity/Maturity

$

(17,270

)

$

(108,958

)

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation

# of Shares or Units

Rate Paid/ Received

Payment Frequency

Notional Amount (000)

Maturity Date

Unrealized Appreciation/ (Depreciation)

Pay Total Return on Reference Obligation

Bank of America, NA

iBoxx $ Liquid High Yield Index

5,276,000

LIBOR

Maturity

USD

5,276

12/20/18

$

105,465

iBoxx $ Liquid High Yield Index

524,000

LIBOR

Maturity

USD

524

12/20/18

10,592

Receive Total Return on Reference Obligation

JPMorgan Chase Bank, NA

JPABSAA1(1)

363,914

0.07

%

Maturity

USD

36,675

12/28/18

0

$

116,057

** Notional amount less than 500.

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

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At November 30, 2018, the aggregate market value of these securities amounted to $5,691,571 or 5.4% of net assets.

(c) Defaulted matured security.

(d) Non-income producing security.

(e) Illiquid security.

(f) Defaulted.

(g) When-Issued or delayed delivery security.

(h) Affiliated investments.

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

(j) 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.

(k) As of November 30, 2018, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $4,193,978 and gross unrealized depreciation of investments was $(4,837,686), resulting in net unrealized depreciation of $(643,708).

(l) One contract relates to 1 share.

As of November 30, 2018, the Fund’s percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 4.9% and 0.0%, respectively.

Currency Abbreviations:

AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
CLP	-	Chilean Peso

CNY	-	Chinese Yuan Renminbi
COP	-	Colombian Peso
CZK	-	Czech Koruna
EUR	-	Euro
GBP	-	Great British Pound
HKD	-	Hong Kong Dollar
HUF	-	Hungarian Forint
IDR	-	Indonesian Rupiah
INR	-	Indian Rupee
JPY	-	Japanese Yen
KRW	-	South Korean Won
MXN	-	Mexican Peso
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
PEN	-	Peruvian Sol
PHP	-	Philippine Peso
PLN	-	Polish Zloty
RUB	-	Russian Ruble
SEK	-	Swedish Krona
SGD	-	Singapore Dollar
THB	-	Thailand Baht
TRY	-	Turkish Lira
TWD	-	New Taiwan Dollar
USD	-	United States Dollar
ZAR	-	South African Rand
Glossary:
AGM	-	Assured Guaranty Municipal
BKBM	-	Bank Bill Benchmark (New Zealand)
CBT	-	Chicago Board of Trade
COP	-	Certificate of Participation
DAX	-	Deutscher Aktien Index (German Stock Index)
ETF	-	Exchange Traded Fund
ETM	-	Escrowed to Maturity
ETN	-	Exchange Traded Note
FTSE	-	Financial Times Stock Exchange
GDR	-	Global Depositary Receipt
IBEX	-	International Business Exchange
LIBOR	-	London Interbank Offered Rates
MIB	-	Milano Italia Borsa
MSCI	-	Morgan Stanley Capital International
NATL	-	National Interstate Corporation
NIBOR	-	Norwegian Interbank Offered Rate
REIT	-	Real Estate Investment Trust
SPI	-	Share Price Index
STIBOR	-	Stockholm Interbank Offered Rate
TOPIX	-	Tokyo Price Index
TSX	-	Toronto Stock Exchange

(1) The following table represents the 50 largest (long/short) equity basket holdings underlying the total return swap with JPABSAA1 as of November 30, 2018.

Security Description	Shares			Notional Value as of 11/30/18			Percent of Basket’s Value
S&P 500 Total Return		(3,356	)	$	(18,390,171	)		(50.1	)%
MSCI Daily TR Gross EAFE		(1,396	)		(10,341,729	)		(28.2	)%
MSCI Daily TR Gross Canada		(159	)		(1,089,120	)		(3.0	)%
Roche Holding AG		3,386			877,453			2.4	%
Nice Ltd.		797,190			797,190			2.2	%
Microsoft Corp.		7,167			795,507			2.2	%
HKT Trust & HKT Ltd.		531,296			746,798			2.0	%
Royal Dutch Shell PLC		234			716,516			2.0	%
Paychex, Inc.		9,942			705,873			1.9	%

Security Description	Shares		Notional Value as of 11/30/18		Percent of Basket’s Value
Merck & Co., Inc.		8,793	$	694,668		1.9	%
Raytheon Co.		3,906		683,464		1.9	%
Fidelity National Financial, Inc.		19,223		653,586		1.8	%
TJX Cos., Inc. (The)		12,881		631,177		1.7	%
Ross Stores, Inc.		7,088		623,708		1.7	%
Gilead Sciences, Inc.		8,507		612,503		1.7	%
Toronto-Dominion Bank (The)		10,936		608,906		1.7	%
TOTAL SA		10,575		586,697		1.6	%
Fidelity National Information Services Inc.		5,429		586,360		1.6	%
Nippon Telegraph & Telephone Corp.		14,134		582,523		1.6	%
UnitedHealth Group, Inc.		2,047		575,156		1.6	%
Booz Allen Hamilton Holding Corp.		11,131		567,686		1.5	%
Philip Morris International, Inc.		6,310		549,012		1.5	%
Salmar ASA		9,665		544,862		1.5	%
Apple, Inc.		3,025		541,543		1.5	%
Boeing Co. (The)		1,561		541,543		1.5	%
Pfizer, Inc.		11,529		530,338		1.4	%
Royal Bank of Canada		7,166		522,987		1.4	%
Walmart, Inc.		5,335		522,869		1.4	%
Check Point Software Technologies Ltd.		4,602		515,399		1.4	%
RELX PLC		25,120		511,958		1.4	%
Anthem, Inc.		1,739		504,195		1.4	%
NN Group NV		10,857		467,115		1.3	%
Comcast Corp.		11,970		466,847		1.3	%
CVS Health Corp.		5,602		448,173		1.2	%
Oracle Corp.		8,994		440,704		1.2	%
Oracle Corp./Japan		6,789		440,626		1.2	%
Total System Services, Inc.		5,023		436,969		1.2	%
British American Tobacco PLC		124		436,627		1.2	%
Aristocrat Leisure Ltd.		24,708		433,027		1.2	%
Texas Instruments, Inc.		4,295		429,499		1.2	%
Intercontinental Exchange, Inc.		5,192		425,765		1.2	%
Wolters Kluwer NV		6,912		414,798		1.1	%
PepsiCo, Inc.		3,398		414,560		1.1	%
Vonovia SE		8,213		399,851		1.1	%
Capgemini SE		3,429		399,851		1.1	%
Koninklijke Ahold Delhaize NV		15,354		399,851		1.1	%
McDonald’s Corp		2,114		399,621		1.1	%
LyondellBasell Industries NV		4,096		380,947		1.0	%
Novo Nordisk A/S		7,969		369,962		1.0	%
Home Depot, Inc. (The)		2,054		369,743		1.0	%
Other		360,978		11,370,351		31.0	%

AB Tax-Managed All Market Income Portfolio

November 30, 2018 (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.

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.

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments 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.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2018:

Investments in Securities:	Level 1			Level 2			Level 3			Total
Assets:
Long-Term Municipal Bonds	$	– 0	–	$	50,139,879		$	8,389,625		$	58,529,504
Common Stocks:
Health Care		2,694,079			2,146,965			– 0	–		4,841,044
Consumer Staples		2,796,882			1,607,662			– 0	–		4,404,544
Financials		1,284,284			1,446,412			– 0	–		2,730,696
Industrials		820,910			1,653,485			– 0	–		2,474,395
Communication Services		1,593,849			873,024			– 0	–		2,466,873
Energy		1,469,351			506,825			– 0	–		1,976,176
Utilities		1,171,461			541,427			– 0	–		1,712,888
Consumer Discretionary		709,398			892,628			– 0	–		1,602,026
Information Technology		1,158,888			148,515			– 0	–		1,307,403
Materials		235,349			726,520			– 0	–		961,869
Real Estate		6,078			221,899			– 0	–		227,977
Preferred Stocks		6,790,189			– 0	–		– 0	–		6,790,189
Investment Companies		5,006,557			– 0	–		– 0	–		5,006,557
Short-Term Investments		5,271,362			– 0	–		– 0	–		5,271,362
Total Investments in Securities		31,008,637			60,905,241			8,389,625			100,303,503
Other Financial Instruments (a):
Assets:
Futures		124,813			25,433			– 0	–		150,246
Forward Currency Exchange Contracts		– 0	–		624,315			– 0	–		624,315
Centrally Cleared Interest Rate Swaps		– 0	–		63,161			– 0	–		63,161
Total Return Swaps		– 0	–		116,057			– 0	–		116,057
Liabilities:
Futures		(359,073	)		(299,985	)		– 0	–		(659,058	)
Forward Currency Exchange Contracts		– 0	–		(418,112	)		– 0	–		(418,112	)
Call Options Written		– 0	–		(171,074	)		– 0	–		(171,074	)
Put Options Written		– 0	–		(56,393	)		– 0	–		(56,393	)
Centrally Cleared Interest Rate Swaps		– 0	–		(8,476	)		– 0	–		(8,476	)
Credit Default Swaps		– 0	–		(87,142	)		– 0	–		(87,142	)
Inflation (CPI) Swaps		– 0	–		(108,958	)		– 0	–		(108,958	)
Total (b)	$	30,774,377		$	60,584,067		$	8,389,625		$	99,748,069

(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) There were de minimis transfers under 1% of net assets between Level 1 and Level 2 during the reporting period.

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

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

	Long-Term Municipal Bonds			Total
Balance as of 8/31/18	$	8,607,904		$	8,607,904
Accrued discounts/(premiums)		(3,799	)		(3,799	)
Realized gain (loss)		9,048			9,048
Change in unrealized appreciation/depreciation		(228,346	)		(228,346	)
Purchases		188,947			188,947
Sales		(184,129	)		(184,129	)
Transfers in to Level 3		– 0	–		– 0	–
Transfers out of Level 3		– 0	–		– 0	–
Balance as of 11/30/18	$	8,389,625		$	8,389,625
Net change in unrealized appreciation/depreciation from investments held as of 11/30/18	$	(228,159)		$	(228,159)

As of November 30, 2018, all Level 3 securities were priced by third party vendors.

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

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

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

A summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2018 is as follows:

Fund	Market Value 8/31/18 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 11/30/18 (000)		Dividend Income (000)
Government Money Market Portfolio	$	1,665	$	13,700	$	10,094	$	5,271	$	19

AB Tax-Managed Wealth Appreciation Strategy

Portfolio of Investments

November 30, 2018 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 52.3%
Information Technology - 10.7%
Communications Equipment - 0.9%
Cisco Systems, Inc.		92,148	$	4,411,125
Nokia Oyj (Sponsored ADR)-Class A		384,028		2,100,633
				6,511,758
Electronic Equipment, Instruments & Components - 0.3%
CDW Corp./DE		22,267		2,063,705
IT Services - 2.6%
Broadridge Financial Solutions, Inc.		13,132		1,390,285
Cognizant Technology Solutions Corp.-Class A		30,721		2,188,257
Fidelity National Information Services, Inc.		28,684		3,096,438
Total System Services, Inc.		28,288		2,471,522
Visa, Inc.-Class A		62,501		8,857,017
				18,003,519
Semiconductors & Semiconductor Equipment - 1.4%
Intel Corp.		85,365		4,209,348
Texas Instruments, Inc.		21,583		2,155,063
Xilinx, Inc.		39,275		3,632,152
				9,996,563
Software - 3.1%
Adobe, Inc. (a)		10,938		2,744,235
Microsoft Corp.		117,511		13,030,795
Oracle Corp.		112,290		5,475,260
				21,250,290
Technology Hardware, Storage & Peripherals - 2.4%
Apple, Inc.		64,248		11,473,408
HP, Inc.		121,141		2,786,243
Xerox Corp.		93,258		2,510,505
				16,770,156
				74,595,991
Financials - 8.1%
Banks - 3.8%
Bank of America Corp.		281,253		7,987,585
Citigroup, Inc.		47,004		3,045,389
JPMorgan Chase & Co.		77,984		8,671,041
Wells Fargo & Co.		117,151		6,358,957
				26,062,972
Capital Markets - 1.2%
CME Group, Inc.-Class A		15,540		2,953,843
Goldman Sachs Group, Inc. (The)		19,242		3,669,257
S&P Global, Inc.		8,219		1,502,927
				8,126,027
Consumer Finance - 0.4%
Capital One Financial Corp.		4,640		416,115
Synchrony Financial		100,651		2,614,913
				3,031,028

Company	Shares		U.S. $ Value
Diversified Financial Services - 1.0%
Berkshire Hathaway, Inc.-Class B (a)		32,318	$	7,053,080
Insurance - 1.7%
Allstate Corp. (The)		1,156		103,104
Everest Re Group Ltd.		20,558		4,565,520
Fidelity National Financial, Inc.		94,810		3,185,616
Progressive Corp. (The)		58,035		3,847,140
				11,701,380
				55,974,487
Health Care - 6.9%
Biotechnology - 1.4%
Biogen, Inc. (a)		11,471		3,828,102
Gilead Sciences, Inc.		58,991		4,243,813
Vertex Pharmaceuticals, Inc. (a)		9,241		1,670,680
				9,742,595
Health Care Equipment & Supplies - 0.9%
Edwards Lifesciences Corp. (a)		17,730		2,872,438
Intuitive Surgical, Inc. (a)		2,145		1,138,716
Medtronic PLC		24,672		2,406,260
				6,417,414
Health Care Providers & Services - 2.2%
Anthem, Inc.		18,196		5,278,114
Cigna Corp.		3,939		879,894
CVS Health Corp.		15,769		1,264,679
UnitedHealth Group, Inc.		27,938		7,860,636
				15,283,323
Pharmaceuticals - 2.4%
Johnson & Johnson		11,584		1,701,690
Merck & Co., Inc.		48,459		3,844,737
Pfizer, Inc.		155,124		7,171,382
Zoetis, Inc.		39,761		3,732,365
				16,450,174
				47,893,506
Communication Services - 5.8%
Diversified Telecommunication Services - 0.9%
Verizon Communications, Inc.		105,117		6,338,555
Entertainment - 0.6%
Walt Disney Co. (The)		32,409		3,742,916
Interactive Media & Services - 2.9%
Alphabet, Inc.-Class A (a)		1,345		1,492,479
Alphabet, Inc.-Class C (a)		10,558		11,554,992
Facebook, Inc.-Class A (a)		50,661		7,123,443
				20,170,914
Media - 1.1%
Comcast Corp.-Class A		198,933		7,760,376

Company	Shares		U.S. $ Value
Wireless Telecommunication Services - 0.3%
T-Mobile US, Inc. (a)		34,179	$	2,339,553
				40,352,314
Consumer Discretionary - 5.4%
Auto Components - 0.5%
Magna International, Inc.-Class A		72,990		3,640,011
Hotels, Restaurants & Leisure - 0.5%
McDonald’s Corp.		17,067		3,217,300
Starbucks Corp.		8,366		558,180
				3,775,480
Internet & Direct Marketing Retail - 0.4%
Booking Holdings, Inc. (a)		1,454		2,750,794
Specialty Retail - 3.3%
AutoZone, Inc. (a)		4,888		3,954,734
Home Depot, Inc. (The)		38,538		6,949,172
Ross Stores, Inc.		50,495		4,423,362
TJX Cos., Inc. (The)		119,228		5,824,288
Ulta Salon Cosmetics & Fragrance, Inc. (a)		4,899		1,458,873
				22,610,429
Textiles, Apparel & Luxury Goods - 0.7%
NIKE, Inc.-Class B		65,504		4,920,660
				37,697,374
Consumer Staples - 4.4%
Beverages - 1.2%
Constellation Brands, Inc.-Class A		15,467		3,027,820
PepsiCo, Inc.		41,258		5,031,001
				8,058,821
Food & Staples Retailing - 2.1%
Costco Wholesale Corp.		20,537		4,749,797
US Foods Holding Corp. (a)		99,619		3,305,358
Walmart, Inc.		67,781		6,618,815
				14,673,970
Household Products - 0.6%
Procter & Gamble Co. (The)		47,523		4,491,399
Tobacco - 0.5%
Altria Group, Inc.		65,633		3,598,657
				30,822,847
Industrials - 3.3%
Aerospace & Defense - 1.7%
Boeing Co. (The)		14,023		4,862,616
Northrop Grumman Corp.		13,195		3,429,117
Raytheon Co.		21,369		3,746,840
				12,038,573
Airlines - 0.4%
Delta Air Lines, Inc.		48,076		2,918,694

Company	Shares		U.S. $ Value
Electrical Equipment - 0.0%
Eaton Corp. PLC		3,316	$	255,133
Industrial Conglomerates - 0.7%
Honeywell International, Inc.		30,769		4,515,351
Road & Rail - 0.5%
Norfolk Southern Corp.		20,884		3,565,734
				23,293,485
Real Estate - 3.0%
Equity Real Estate Investment Trusts (REITs) - 2.6%
CubeSmart		104,458		3,252,822
Mid-America Apartment Communities, Inc.		59,245		6,135,412
Regency Centers Corp.		74,148		4,720,262
Sun Communities, Inc.		35,017		3,645,270
				17,753,766
Real Estate Management & Development - 0.4%
CBRE Group, Inc.-Class A (a)		66,001		2,882,923
				20,636,689
Energy - 2.6%
Energy Equipment & Services - 0.3%
National Oilwell Varco, Inc.		56,668		1,819,610
Oil, Gas & Consumable Fuels - 2.3%
Chevron Corp.		42,870		5,098,958
EOG Resources, Inc.		30,759		3,177,712
Exxon Mobil Corp.		64,748		5,147,466
Marathon Petroleum Corp.		43,487		2,833,613
				16,257,749
				18,077,359
Utilities - 1.6%
Electric Utilities - 1.1%
American Electric Power Co., Inc.		91,778		7,134,822
Edison International		4,800		265,536
				7,400,358
Multi-Utilities - 0.5%
NiSource, Inc.		134,854		3,562,842
				10,963,200
Materials - 0.5%
Chemicals - 0.5%
LyondellBasell Industries NV-Class A		37,716		3,519,279
Total Common Stocks (cost $276,635,507)				363,826,531
INVESTMENT COMPANIES - 47.0%
Funds and Investment Trusts - 47.0% (b) (c)
AB Discovery Growth Fund, Inc.-Class Z (a)		1,295,029		16,045,414
AB Discovery Value Fund-Class Z		761,402		16,697,537
Bernstein Fund, Inc.-International Small Cap Portfolio-Class Z		3,714,599		41,492,071

Company	Shares		U.S. $ Value
Bernstein Fund, Inc.-International Strategic Equities Portfolio-Class Z		12,058,333	$	137,464,992
Bernstein Fund, Inc.-Small Cap Core Portfolio-Class Z		1,530,170		17,826,482
Sanford C. Bernstein Fund, Inc.-Emerging Markets Portfolio-Class Z		756,172		19,970,509
Sanford C. Bernstein Fund, Inc.- AB Tax-Managed International Portfolio-Class Z		4,858,370		77,150,923
Total Investment Companies (cost $349,278,085)				326,647,928
SHORT-TERM INVESTMENTS - 0.6%
Investment Companies - 0.6%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.13% (b)(c)(d) (cost $3,983,679)		3,983,679		3,983,679
Total Investments - 99.9% (cost $629,897,271) (e)				694,458,138
Other assets less liabilities - 0.1%				840,270
Net Assets - 100.0%			$	695,298,408

(a) Non-income producing security.

(b) 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.

(c) Affiliated investments.

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

(e) As of November 30, 2018, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $93,396,735 and gross unrealized depreciation of investments was $(28,835,868), resulting in net unrealized appreciation of $64,560,867.

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

Glossary:

ADR - American Depositary Receipt

AB Tax-Managed Wealth Appreciation Strategy

November 30, 2018 (unaudited)

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

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

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

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

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

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2018:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks (a)

$

363,826,531

$

– 0

–

$

– 0

–

$

363,826,531

Investment Companies

326,647,928

– 0

–

– 0

–

326,647,928

Short-Term Investments

3,983,679

– 0

–

– 0

–

3,983,679

Total Investments in Securities

694,458,138

– 0

–

– 0

–

694,458,138

Other Financial Instruments (b)

– 0

–

– 0

–

– 0

–

– 0

–

Total (c)

$

694,458,138

$

– 0

–

$

– 0

–

$

694,458,138

(a) See Portfolio of Investments for sector classifications.

(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.

(c) There were no transfers between any levels during the reporting period.

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

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

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

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

A summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2018 is as follows:

																	Distributions
Affiliated Issuer	Market Value 8/31/18 (000)		Purchases at Cost (000)			Sales Proceeds (000)			Realized Gain (Loss) (000)			Change in Unrealized Appr./(Depr.) (000)			Market Value 11/30/18 (000)		Dividend Income (000)			Realized Gains (000)
AB Discovery Growth Fund, Inc.	$	18,623	$	– 0	–	$	– 0	–	$	– 0	–	$	(2,578	)	$	16,045	$	– 0	–	$	– 0	–
AB Discovery Value Fund		18,197		– 0	–		– 0	–		– 0	–		(1,499	)		16,698		– 0	–		– 0	–
AB Fixed Income Shares, Inc. - Government Money Market Portfolio		80		26,438			22,534			– 0	–		– 0	–		3,984		– 0	–		7
Bernstein Fund, Inc. - International Small Cap Portfolio		44,190		2,390			– 0	–		– 0	–		(5,088	)		41,492		– 0	–		– 0	–
Bernstein Fund, Inc. - International Strategic Equities Portfolio		146,862		4,628			842			(56	)		(13,127	)		137,465		– 0	–		– 0	–
Bernstein Fund, Inc. - Small Cap Core Portfolio		20,336		– 0	–		– 0	–		– 0	–		(2,510	)		17,826		– 0	–		– 0	–
Sanford C. Bernstein Fund, Inc. - Emerging Markets Portfolio		18,997		2,784			– 0	–		– 0	–		(1,810	)		19,971		– 0	–		– 0	–
Sanford C. Bernstein Fund, Inc. - AB Tax-Managed International Portfolio		82,253		3,070			– 0	–		– 0	–		(8,172	)		77,151		– 0	–		– 0	–
Total	$	349,538	$	39,310		$	23,376		$	(56	)	$	(34,784	)	$	330,632	$	– 0	–	$	7

AB Wealth Appreciation Strategy

Portfolio of Investments

November 30, 2018 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 52.5%
Information Technology - 10.8%
Communications Equipment - 1.0%
Cisco Systems, Inc.		159,042	$	7,613,341
Nokia Oyj (Sponsored ADR)-Class A		833,649		4,560,060
				12,173,401
Electronic Equipment, Instruments & Components - 0.3%
CDW Corp./DE		43,091		3,993,674
IT Services - 2.6%
Broadridge Financial Solutions, Inc.		31,365		3,320,613
Cognizant Technology Solutions Corp.-Class A		66,505		4,737,151
Fidelity National Information Services, Inc.		55,432		5,983,884
Total System Services, Inc.		63,187		5,520,648
Visa, Inc.-Class A		94,346		13,369,772
				32,932,068
Semiconductors & Semiconductor Equipment - 1.4%
Intel Corp.		128,123		6,317,745
Texas Instruments, Inc.		51,521		5,144,372
Xilinx, Inc.		68,923		6,373,999
				17,836,116
Software - 3.2%
Adobe, Inc. (a)		25,408		6,374,613
Microsoft Corp.		227,844		25,265,621
Oracle Corp.		200,938		9,797,737
				41,437,971
Technology Hardware, Storage & Peripherals - 2.3%
Apple, Inc.		115,777		20,675,456
HP, Inc.		186,255		4,283,865
Xerox Corp.		171,414		4,614,465
				29,573,786
				137,947,016
Financials - 7.9%
Banks - 3.8%
Bank of America Corp.		468,784		13,313,466
Citigroup, Inc.		103,626		6,713,929
JPMorgan Chase & Co.		147,922		16,447,447
Wells Fargo & Co.		224,718		12,197,693
				48,672,535
Capital Markets - 0.8%
Goldman Sachs Group, Inc. (The)		33,593		6,405,849
S&P Global, Inc.		21,403		3,913,753
				10,319,602
Consumer Finance - 0.4%
Synchrony Financial		161,887		4,205,824
Diversified Financial Services - 1.2%
Berkshire Hathaway, Inc.-Class B (a)		70,776		15,446,154

Company	Shares		U.S. $ Value
Insurance - 1.7%
Everest Re Group Ltd.		40,699	$	9,038,434
Fidelity National Financial, Inc.		172,473		5,795,093
Progressive Corp. (The)		102,964		6,825,483
				21,659,010
				100,303,125
Health Care - 6.9%
Biotechnology - 1.5%
Biogen, Inc. (a)		21,638		7,221,034
Gilead Sciences, Inc.		115,286		8,293,675
Vertex Pharmaceuticals, Inc. (a)		18,484		3,341,722
				18,856,431
Health Care Equipment & Supplies - 0.8%
Edwards Lifesciences Corp. (a)		31,316		5,073,505
Medtronic PLC		56,736		5,533,462
				10,606,967
Health Care Providers & Services - 2.2%
Anthem, Inc.		35,427		10,276,310
CVS Health Corp.		26,046		2,088,918
UnitedHealth Group, Inc.		57,319		16,127,274
				28,492,502
Pharmaceuticals - 2.4%
Merck & Co., Inc.		111,219		8,824,116
Pfizer, Inc.		314,914		14,558,474
Zoetis, Inc.		72,721		6,826,320
				30,208,910
				88,164,810
Communication Services - 5.9%
Diversified Telecommunication Services - 0.8%
Verizon Communications, Inc.		169,402		10,214,941
Entertainment - 0.7%
Walt Disney Co. (The)		73,535		8,492,557
Interactive Media & Services - 3.0%
Alphabet, Inc.-Class C (a)		23,513		25,733,333
Facebook, Inc.-Class A (a)		86,825		12,208,463
				37,941,796
Media - 1.1%
Comcast Corp.-Class A		373,034		14,552,056
Wireless Telecommunication Services - 0.3%
T-Mobile US, Inc. (a)		65,305		4,470,127
				75,671,477
Consumer Discretionary - 5.5%
Auto Components - 0.5%
Magna International, Inc.-Class A		143,496		7,156,146

Company	Shares		U.S. $ Value
Hotels, Restaurants & Leisure - 0.6%
McDonald’s Corp.		38,881	$	7,329,457
Internet & Direct Marketing Retail - 0.4%
Booking Holdings, Inc. (a)		2,612		4,941,591
Specialty Retail - 3.3%
AutoZone, Inc. (a)		9,139		7,394,091
Home Depot, Inc. (The)		70,232		12,664,234
Ross Stores, Inc.		86,983		7,619,711
TJX Cos., Inc. (The)		224,244		10,954,319
Ulta Salon Cosmetics & Fragrance, Inc. (a)		11,233		3,345,075
				41,977,430
Textiles, Apparel & Luxury Goods - 0.7%
NIKE, Inc.-Class B		123,504		9,277,620
				70,682,244
Consumer Staples - 4.5%
Beverages - 1.2%
Constellation Brands, Inc.-Class A		29,361		5,747,709
PepsiCo, Inc.		77,143		9,406,818
				15,154,527
Food & Staples Retailing - 2.0%
Costco Wholesale Corp.		34,853		8,060,802
US Foods Holding Corp. (a)		179,767		5,964,669
Walmart, Inc.		123,935		12,102,252
				26,127,723
Household Products - 0.7%
Procter & Gamble Co. (The)		99,221		9,377,377
Tobacco - 0.6%
Altria Group, Inc.		131,048		7,185,362
				57,844,989
Industrials - 3.3%
Aerospace & Defense - 1.7%
Boeing Co. (The)		22,748		7,888,096
Northrop Grumman Corp.		22,108		5,745,427
Raytheon Co.		44,779		7,851,550
				21,485,073
Airlines - 0.4%
Delta Air Lines, Inc.		82,643		5,017,257
Industrial Conglomerates - 0.7%
Honeywell International, Inc.		59,772		8,771,541
Road & Rail - 0.5%
Norfolk Southern Corp.		36,252		6,189,666
				41,463,537
Real Estate - 3.0%
Equity Real Estate Investment Trusts (REITs) - 2.5%
CubeSmart		206,631		6,434,489
Mid-America Apartment Communities, Inc.		110,107		11,402,681
Regency Centers Corp.		136,764		8,706,396
Sun Communities, Inc.		59,024		6,144,399
				32,687,965

Company	Shares		U.S. $ Value
Real Estate Management & Development - 0.5%
CBRE Group, Inc.-Class A (a)		137,613	$	6,010,936
				38,698,901
Energy - 2.7%
Energy Equipment & Services - 0.3%
National Oilwell Varco, Inc.		115,759		3,717,022
Oil, Gas & Consumable Fuels - 2.4%
Chevron Corp.		75,009		8,921,570
EOG Resources, Inc.		58,608		6,054,792
Exxon Mobil Corp.		130,885		10,405,358
Marathon Petroleum Corp.		79,400		5,173,704
				30,555,424
				34,272,446
Utilities - 1.5%
Electric Utilities - 1.0%
American Electric Power Co., Inc.		162,228		12,611,605
Multi-Utilities - 0.5%
NiSource, Inc.		262,848		6,944,444
				19,556,049
Materials - 0.5%
Chemicals - 0.5%
LyondellBasell Industries NV-Class A		63,829		5,955,884
Total Common Stocks (cost $594,701,408)				670,560,478
INVESTMENT COMPANIES - 47.2%
Funds and Investment Trusts - 47.2% (b)(c)
AB Discovery Growth Fund, Inc.-Class Z (a)		2,406,671		29,818,657
AB Discovery Value Fund-Class Z		1,433,582		31,438,462
Bernstein Fund, Inc.-International Small Cap Portfolio-Class Z		6,831,215		76,304,673
Bernstein Fund, Inc.-International Strategic Equities Portfolio-Class Z		22,195,390		253,027,443
Bernstein Fund, Inc.-Small Cap Core Portfolio-Class Z		2,972,488		34,629,485
Sanford C. Bernstein Fund, Inc.-Emerging Markets Portfolio-Class Z		1,372,732		36,253,852
Sanford C. Bernstein Fund, Inc.-International Portfolio-Class Z		8,947,911		142,003,352
Total Investment Companies (cost $644,002,530)				603,475,924

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS - 0.2%
Investment Companies - 0.2%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.13% (b)(c)(d) (cost $2,598,228)		2,598,228	$	2,598,228
Total Investments - 99.9% (cost $1,241,302,166) (e)				1,276,634,630
Other assets less liabilities - 0.1%				674,934
Net Assets - 100.0%			$	1,277,309,564

(a) Non-income producing security.

(b) 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.

(c) Affiliated investments.

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

(e) As of November 30, 2018, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $92,651,935 and gross unrealized depreciation of investments was $(57,319,471), resulting in net unrealized appreciation of $35,332,464.

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

Glossary:

ADR - American Depositary Receipt

AB Wealth Appreciation Strategy

November 30, 2018 (unaudited)

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

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

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

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

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

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2018:

Investments in Securities:

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks (a)

$

670,560,478

$

– 0

–

$

– 0

–

$

670,560,478

Investment Companies

603,475,924

– 0

–

– 0

–

603,475,924

Short-Term Investments

2,598,228

– 0

–

– 0

–

2,598,228

Total Investments in Securities

1,276,634,630

– 0

–

–0

–

1,276,634,630

Other Financial Instruments (b)

– 0

–

– 0

–

–0

–

– 0

–

Total (c)

$

1,276,634,630

$

– 0

–

$

– 0

–

$

1,276,634,630

^(a)  See Portfolio of Investments for sector classifications.

^(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.

^(c)  There were no transfers between any levels during the reporting period.

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

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

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

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

A summary of the Fund’s transactions in AB mutual funds for the three months ended November 30, 2018 is as follows:

																		Distributions
Affiliated Issuer	Market Value 8/31/18 (000)			Purchases at Cost (000)			Sales Proceeds (000)			Realized Gain (Loss) (000)			Change in Unrealized Appr./(Depr.) (000)			Market Value 11/30/18 (000)		Dividend Income (000)			Realized Gains (000)
AB Discovery Growth Fund, Inc.	$	34,608		$	– 0	–	$	– 0	–	$	– 0	–	$	(4,789	)	$	29,819	$	– 0	–	$	– 0	–
AB Discovery Value Fund		34,707			– 0	–		415			8			(2,862	)		31,438		– 0	–		– 0	–
AB Fixed Income Shares, Inc. - Government Money Market Portfolio		– 0	–		47,806			45,208			– 0	–		– 0	–		2,598		– 0	–		12
Bernstein Fund, Inc. - International Small Cap Portfolio		80,519			5,070			– 0	–		– 0	–		(9,284	)		76,305		– 0	–		– 0	–
Bernstein Fund, Inc. - International Strategic Equities Portfolio		270,711			7,982			1,320			(126	)		(24,220	)		253,027		– 0	–		– 0	–
Bernstein Fund, Inc. - Small Cap Core Portfolio		39,504			– 0	–		– 0	–		– 0	–		(4,875	)		34,629		– 0	–		– 0	–
Sanford C. Bernstein Fund, Inc. - Emerging Markets Portfolio		35,399			4,110			– 0	–		– 0	–		(3,255	)		36,254		– 0	–		– 0	–
Sanford C. Bernstein Fund, Inc. - International Portfolio		150,901			5,950			– 0	–		– 0	–		(14,848	)		142,003		– 0	–		– 0	–
Total	$	646,349		$	70,918		$	46,943		$	(118	)	$	(64,133	)	$	606,073	$	– 0	–	$	12

ITEM 2. CONTROLS AND PROCEDURES.

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

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

ITEM 3. EXHIBITS.

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

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
11 (a) (1)	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
11 (a) (2)	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

SIGNATURES

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

(Registrant): The AB Portfolios
By:	/s/     Robert M. Keith
	Robert M. Keith
	President
Date:	January 22, 2019

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

By:	/s/    Robert M. Keith
	Robert M. Keith
	President
Date:	January 22, 2019
By:	/s/    Joseph J. Mantineo
	Joseph J. Mantineo
	Treasurer and Chief Financial Officer
Date:	January 22, 2019