0001752724-19-048628.txt : 20190529 0001752724-19-048628.hdr.sgml : 20190529 20190529135749 ACCESSION NUMBER: 0001752724-19-048628 CONFORMED SUBMISSION TYPE: NPORT-EX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190331 FILED AS OF DATE: 20190529 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AB CAP FUND, INC. CENTRAL INDEX KEY: 0000081443 IRS NUMBER: 132625045 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: NPORT-EX SEC ACT: 1940 Act SEC FILE NUMBER: 811-01716 FILM NUMBER: 19861065 BUSINESS ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 BUSINESS PHONE: 2129691000 MAIL ADDRESS: STREET 1: ALLIANCEBERNSTEIN LP STREET 2: 1345 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10105 FORMER COMPANY: FORMER CONFORMED NAME: ALLIANCEBERNSTEIN CAP FUND, INC. DATE OF NAME CHANGE: 20110524 FORMER COMPANY: FORMER CONFORMED NAME: ALLIANCEBERNSTEIN CAP FUND,INC DATE OF NAME CHANGE: 20040908 FORMER COMPANY: FORMER CONFORMED NAME: ALLIANCEBERNSTEIN SMALL CAP GROWTH FUND INC DATE OF NAME CHANGE: 19931001 0000081443 S000039195 AB Select US Long/Short Portfolio C000120605 Advisor Class ASYLX C000120608 Class A ASLAX C000120609 Class C ASCLX C000120610 Class I ASILX C000120611 Class K ASLKX C000120612 Class R ASRLX ACCESSION NUMBER: 0001752724-19-039587 NPORT-EX 1 NPORT_827429363611925.htm FOR VALIDATION PURPOSES ONLY - [700748.SLS]

AB Cap Fund, Inc.

AB Select US Long/Short Portfolio

Portfolio of Investments

March 31, 2019 (unaudited)

 

Company

    Shares        U.S. $ Value  

COMMON STOCKS - 61.1%

        

Information Technology - 12.4%

        

Communications Equipment - 1.7%

        

Cisco Systems, Inc.

      320,635        $ 17,311,084  
       

 

 

  

IT Services - 1.7%

        

PayPal Holdings, Inc. (a)

      49,527          5,142,884  

Visa, Inc.-Class A

      79,211          12,371,966  
       

 

 

  
          17,514,850  
       

 

 

  

Semiconductors & Semiconductor Equipment - 2.1%

        

Broadcom, Inc.

      21,011          6,318,218  

Intel Corp.

      117,709          6,320,973  

QUALCOMM, Inc.

      45,282          2,582,432  

Texas Instruments, Inc.

      65,456          6,942,918  
       

 

 

  
          22,164,541  
       

 

 

  

Software - 4.8%

        

Adobe, Inc. (a)

      25,326          6,749,126  

Lyft, Inc. (a)

      81,422          6,374,528  

Microsoft Corp.

      247,155          29,149,461  

VMware, Inc.-Class A

      39,183          7,072,923  
       

 

 

  
          49,346,038  
       

 

 

  

Technology Hardware, Storage & Peripherals - 2.1%

        

Apple, Inc.

      117,167          22,255,872  
       

 

 

  
          128,592,385  
       

 

 

  

Health Care - 8.9%

        

Health Care Equipment & Supplies - 2.7%

        

Abbott Laboratories

      137,873          11,021,568  

Boston Scientific Corp. (a)

      229,562          8,810,589  

Medtronic PLC

      92,215          8,398,942  
       

 

 

  
          28,231,099  
       

 

 

  

Health Care Providers & Services - 1.8%

        

Cigna Corp. (a)

      28,303          4,551,689  

Humana, Inc.

      14,114          3,754,324  

UnitedHealth Group, Inc.

      42,519          10,513,248  
       

 

 

  
          18,819,261  
       

 

 

  

Pharmaceuticals - 4.4%

        

Eli Lilly & Co.

      44,501          5,774,450  

Johnson & Johnson

      93,400          13,056,386  

Merck & Co., Inc.

      123,188          10,245,546  

Pfizer, Inc.

      190,237          8,079,365  

Zoetis, Inc.

      81,191          8,173,498  
       

 

 

  
          45,329,245  
       

 

 

  
          92,379,605  
       

 

 

  

Financials - 8.9%

        

Banks - 5.5%

        

Bank of America Corp.

      538,277          14,851,062  

Citigroup, Inc.

      141,395          8,797,597  

JPMorgan Chase & Co.

      166,798          16,884,961  

US Bancorp

      173,045          8,339,039  

Wells Fargo & Co.

      180,702          8,731,521  
       

 

 

  
          57,604,180  
       

 

 

  

Company

    Shares        U.S. $ Value  

Diversified Financial Services - 2.9%

        

Berkshire Hathaway, Inc.-Class B (a)

      149,111        $ 29,954,909  
       

 

 

  

Insurance - 0.5%

        

Progressive Corp. (The)

      66,612          4,802,059  
       

 

 

  
          92,361,148  
       

 

 

  

Communication Services - 8.5%

        

Diversified Telecommunication Services - 0.9%

        

AT&T, Inc.

      292,833          9,183,243  
       

 

 

  

Entertainment - 2.3%

        

Vivendi SA

      390,236          11,309,060  

Walt Disney Co. (The)

      112,966          12,542,615  
       

 

 

  
          23,851,675  
       

 

 

  

Interactive Media & Services - 3.6%

        

Alphabet, Inc.-Class C (a)

      21,224          24,902,331  

Facebook, Inc.-Class A (a)

      76,911          12,820,295  
       

 

 

  
          37,722,626  
       

 

 

  

Media - 1.4%

        

Comcast Corp.-Class A

      266,611          10,659,108  

Liberty Media Corp.-Liberty SiriusXM-Class A (a)

      58,482          2,232,843  

New York Times Co. (The)-Class A

      65,367          2,147,306  
       

 

 

  
          15,039,257  
       

 

 

  

Wireless Telecommunication Services - 0.3%

        

T-Mobile US, Inc. (a)

      38,698          2,674,032  
       

 

 

  
          88,470,833  
       

 

 

  

Industrials - 6.1%

        

Aerospace & Defense - 2.3%

        

Boeing Co. (The)

      14,653          5,588,947  

Northrop Grumman Corp.

      49,372          13,310,691  

United Technologies Corp.

      39,686          5,115,129  
       

 

 

  
          24,014,767  
       

 

 

  

Airlines - 0.6%

        

Delta Air Lines, Inc.

      123,481          6,377,794  
       

 

 

  

Construction & Engineering - 1.2%

        

Jacobs Engineering Group, Inc.

      162,797          12,240,706  
       

 

 

  

Industrial Conglomerates - 1.7%

        

Honeywell International, Inc.

      108,187          17,193,078  
       

 

 

  

Road & Rail - 0.3%

        

Norfolk Southern Corp.

      16,782          3,136,388  
       

 

 

  
          62,962,733  
       

 

 

  

Company

    Shares        U.S. $ Value  

Consumer Discretionary - 5.7%

        

Hotels, Restaurants & Leisure - 1.0%

        

Red Rock Resorts, Inc.-Class A

      36,936        $ 954,796  

Royal Caribbean Cruises Ltd.

      20,991          2,405,988  

Starbucks Corp.

      89,680          6,666,811  
       

 

 

  
          10,027,595  
       

 

 

  

Household Durables - 0.2%

        

Lennar Corp.-Class A

      49,628          2,436,239  
       

 

 

  

Internet & Direct Marketing Retail - 2.8%

        

Alibaba Group Holding Ltd. (Sponsored ADR) (a)

      15,269          2,785,829  

Amazon.com, Inc. (a)

      9,015          16,053,461  

Booking Holdings, Inc. (a)

      3,165          5,522,640  

eBay, Inc.

      121,076          4,496,763  
       

 

 

  
          28,858,693  
       

 

 

  

Leisure Products - 0.1%

        

Hasbro, Inc.

      17,114          1,455,032  
       

 

 

  

Specialty Retail - 1.5%

        

Burlington Stores, Inc. (a)

      7,084          1,109,921  

Home Depot, Inc. (The)

      53,772          10,318,309  

TJX Cos., Inc. (The)

      68,714          3,656,272  
       

 

 

  
          15,084,502  
       

 

 

  

Textiles, Apparel & Luxury Goods - 0.1%

        

Levi Strauss & Co.-Class A (a)

      57,066          1,343,904  
       

 

 

  
          59,205,965  
       

 

 

  

Energy - 3.8%

        

Oil, Gas & Consumable Fuels - 3.8%

        

Chevron Corp.

      108,811          13,403,339  

EOG Resources, Inc.

      71,769          6,830,974  

Exxon Mobil Corp.

      102,891          8,313,593  

Occidental Petroleum Corp.

      89,632          5,933,638  

Valero Energy Corp.

      61,617          5,226,970  
       

 

 

  
          39,708,514  
       

 

 

  

Consumer Staples - 3.1%

        

Food & Staples Retailing - 0.7%

        

Walmart, Inc.

      72,583          7,079,020  
       

 

 

  

Food Products - 0.5%

        

General Mills, Inc.

      113,010          5,848,268  
       

 

 

  

Household Products - 1.2%

        

Procter & Gamble Co. (The)

      118,119          12,290,282  
       

 

 

  

Personal Products - 0.7%

        

Estee Lauder Cos., Inc. (The)-Class A

      44,373          7,345,950  
       

 

 

  
          32,563,520  
       

 

 

  

Utilities - 2.4%

        

Electric Utilities - 1.7%

        

NextEra Energy, Inc.

      88,975          17,200,647  
       

 

 

  

Company

    Shares        U.S. $ Value  

Independent Power and Renewable Electricity Producers - 0.7%

        

NRG Energy, Inc.

      175,054        $ 7,436,294  
       

 

 

  
          24,636,941  
       

 

 

  

Materials - 0.9%

        

Containers & Packaging - 0.9%

        

Berry Global Group, Inc. (a)

      170,265          9,172,175  
       

 

 

  

Real Estate - 0.4%

        

Equity Real Estate Investment Trusts (REITs) - 0.4%

        

Equinix, Inc.

      9,162          4,151,852  
       

 

 

  

Total Common Stocks
(cost $596,668,895)

           634,205,671  
       

 

 

  

PREFERRED STOCKS - 0.8%

        

Information Technology - 0.7%

        

Software - 0.7%

        

Lyft, Inc.

        

-Series G

        

0.00% (a)(b)(c)

      85,511          6,694,656  

Lyft, Inc.

        

-Series H

        

0.00% (a)(b)(c)

      17,100          1,338,759  
       

 

 

  
          8,033,415  
       

 

 

  

Consumer Discretionary - 0.1%

        

Household Durables - 0.1%

        

Honest Co., Inc. (The)

        

- Series D

        

0.00% (a)(b)(c)(d)

      20,767          520,366  
       

 

 

  

Total Preferred Stocks
(cost $4,379,031)

           8,553,781  
       

 

 

  

INVESTMENT COMPANIES - 0.7%

        

Funds and Investment Trusts - 0.7%

        

iShares Nasdaq Biotechnology ETF (e)(f)
(cost $6,847,199)

      62,533          6,991,189  
       

 

 

  

SHORT-TERM INVESTMENTS - 37.2%

        

Investment Companies - 36.5%

        

AB Fixed Income Shares, Inc.-Government
Money Market Portfolio-Class AB,
2.38% (e)(g)(h)
(cost $378,781,472)

      378,781,472          378,781,472  
       

 

 

  
     Principal
Amount
(000)		           

U.S. Treasury Bills - 0.7%

        

U.S. Treasury Bill Zero Coupon, 5/16/19 (i)
(cost $6,979,149)

    $ 7,000          6,979,481  
       

 

 

  

Total Short-Term Investments
(cost $385,760,621)

           385,760,953  
       

 

 

  

Company

    Shares        U.S. $ Value  

Total Investments Before Securities Lending Collateral For Securities loaned - 99.8%
(cost $993,655,746)

         $ 1,035,511,594  
       

 

 

  

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 0.4%

        

Investment Companies - 0.4%

        

AB Fixed Income Shares, Inc. - Government
Money Market Portfolio-Class AB,
2.38% (e)(g)(h)
(cost $4,406,079)

      4,406,079          4,406,079  
       

 

 

  

SECURITIES SOLD SHORT - (2.2)%

        

COMMON STOCKS - (1.8)%

        

Real Estate - (0.9)%

        

Equity Real Estate Investment Trusts (REITs) - (0.9)%

        

Empire State Realty Trust, Inc.- Class A

      (199,388 )         (3,150,331 ) 

SL Green Realty Corp.

      (44,996 )         (4,046,040 ) 

Washington Prime Group, Inc.

      (338,202 )         (1,910,841 ) 
       

 

 

  
          (9,107,212 ) 
       

 

 

  

Industrials - (0.7)%

        

Aerospace & Defense - (0.1)%

        

Lockheed Martin Corp.

      (3,990 )         (1,197,639 ) 
       

 

 

  

Airlines - 0.0%

        

Allegiant Travel Co.

      (2,787 )         (360,833 ) 
       

 

 

  

Industrial Conglomerates - (0.6)%

        

3M Co.

      (28,785 )         (5,980,947 ) 
       

 

 

  
          (7,539,419 ) 
       

 

 

  

Health Care - (0.2)%

        

Biotechnology - (0.2)%

        

AbbVie, Inc.

      (21,764 )         (1,753,961 ) 
       

 

 

  

Consumer Discretionary - 0.0%

        

Automobiles - 0.0%

        

Tesla, Inc. (a)

      (1,125 )         (314,842 ) 
       

 

 

  

Total Common Stocks
(proceeds $18,626,849)

           (18,715,434 ) 
       

 

 

  

INVESTMENT COMPANIES - (0.4)%

        

Funds and Investment Trusts - (0.4)%

        

Invesco CurrencyShares Euro Currency Trust (a)(e)
(proceeds $4,086,329)

      (38,118 )         (4,079,388 ) 
       

 

 

  

Total Securities Sold Short
(proceeds $22,713,178)

           (22,794,822 ) 
       

 

 

  

Total Investments, Net of Securities Sold Short - 98.0%
(cost $975,348,647) (j)

           1,017,122,851  

Other assets less liabilities - 2.0%

           20,918,120  
       

 

 

  

Net Assets - 100.0%

         $ 1,038,040,971  
       

 

 

  

FUTURES

 

Description

    Number
of
Contracts		      Expiration
Month		      Current
Notional		      Value and
Unrealized
Appreciation/
(Depreciation)		  

Sold Contracts

            

S&P 500 E-Mini Futures

      90        June 2019      $ 12,770,100      $ (173,024 ) 

TOTAL RETURN SWAPS

 

Counterparty &
Referenced Obligation

    Rate Paid/
Received		   Payment
Frequency		      Current
Notional
(000)		     Maturity
Date		      Unrealized
Appreciation/
(Depreciation)		  

Receive Total Return on Reference Obligation

 

Morgan Stanley Capital Services LLC

 

Blackstone Group LP (The)

    FedFundEffective

Plus 0.95%

     Annual      USD      422       3/05/21      $ 56,018  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      262       3/05/21        45,388  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      705       3/05/21        33,833  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      260       3/05/21        21,373  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      129       3/05/21        19,392  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      131       3/05/21        15,513  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      84       3/05/21        10,249  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      174       3/05/21        8,262  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      40       3/05/21        5,750  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      44       3/05/21        4,798  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      180       3/05/21        3,085  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      102       3/05/21        2,919  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      50       3/05/21        2,577  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      55       3/05/21        2,332  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      53       3/05/21        2,044  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      12       3/05/21        1,811  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      57       3/05/21        1,503  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      52       3/05/21        1,388  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      37       3/05/21        1,178  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      8       3/05/21        507  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      11       3/05/21        339  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      8       3/05/21        251  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      0 *      3/05/21        15  

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      50       3/05/21        (630 ) 

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      51       3/05/21        (1,144 ) 

Blackstone Group LP (The)

    FedFundEffective
Plus 0.95%		     Annual      USD      104       3/05/21        (3,696 ) 

Counterparty &
Referenced Obligation

    Rate Paid/
Received		     Payment
Frequency		      Current
Notional
(000)		      Maturity
Date		      Unrealized
Appreciation/
(Depreciation)		  

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        287        3/05/21      $ (5,361 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        157        3/05/21        (6,530 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        220        3/05/21        (7,922 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        211        3/05/21        (25,357 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Minus 0.30%		  
 		     Annual        USD        394        3/05/21        (36,969 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        345        3/05/21        (41,864 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        499        3/05/21        (70,530 ) 

Blackstone Group LP (The)

     
 FedFundEffective
Plus 0.95%		  
 		     Annual        USD        712        3/05/21        (88,131 ) 

Pay Total Return on Reference Obligation

                 

Morgan Stanley Capital Services LLC

                 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        26        3/05/21        68  

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        105        3/05/21        (282 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        28        3/05/21        (507 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        181        3/05/21        (1,642 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        224        3/05/21        (9,534 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        4,132        3/05/21        (14,884 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        1,871        3/05/21        (100,745 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        3,551        3/05/21        (173,265 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        3,551        3/05/21        (178,592 ) 

MSABBBBD

     
 FedFundEffective
Minus 0.35%		  
 		     Annual        USD        3,551        3/05/21        (202,448 ) 
                

 

 

  
                 $ (729,440 ) 
                

 

 

  

 

*

Notional amount less than 500.

(a)

Non-income producing security.

(b)

Illiquid security.

(c)

Fair valued by the Adviser.

(d)

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

(e)

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

(f)

Represents entire or partial securities out on loan.

(g)

Affiliated investments.

(h)

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

(i)

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

(j)

As of March 31, 2019, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $46,088,592 and gross unrealized depreciation of investments was $(5,216,852), resulting in net unrealized appreciation of $40,871,740.

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
ETF    -    Exchange Traded Fund
FedFundEffective    -    Federal Funds Effective Rate

AB Cap Fund, Inc.

AB Select US Long/Short Portfolio

March 31, 2019 (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 March 31, 2019:

 

Investments in Securities:

    Level 1     Level 2     Level 3     Total  

Assets:

         

Common Stocks:

         

Information Technology

    $ 128,592,385     $ – 0  –    $ – 0  –    $ 128,592,385  

Health Care

      92,379,605       – 0  –      – 0  –      92,379,605  

Financials

      92,361,148       – 0  –      – 0  –      92,361,148  

Communication Services

      77,161,773       11,309,060       – 0  –      88,470,833  

Industrials

      62,962,733       – 0  –      – 0  –      62,962,733  

Consumer Discretionary

      59,205,965       – 0  –      – 0  –      59,205,965  

Energy

      39,708,514       – 0  –      – 0  –      39,708,514  

Consumer Staples

      32,563,520       – 0  –      – 0  –      32,563,520  

Utilities

      24,636,941       – 0  –      – 0  –      24,636,941  

Materials

      9,172,175       – 0  –      – 0  –      9,172,175  

Real Estate

      4,151,852       – 0  –      – 0  –      4,151,852  

Preferred Stocks

      8,033,415       – 0  –      520,366       8,553,781  

Investment Companies

      6,991,189       – 0  –      – 0  –      6,991,189  

Short-Term Investments:

         

Investment Companies

      378,781,472       – 0  –      – 0  –      378,781,472  

U.S. Treasury Bills

      – 0  –      6,979,481       – 0  –      6,979,481  

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

      4,406,079       – 0  –      – 0  –      4,406,079  

Liabilities:

         

Common Stocks (a)

      (18,715,434 )      – 0  –      – 0  –      (18,715,434 ) 

Investment Companies

      (4,079,388 )      – 0  –      – 0  –      (4,079,388 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments in Securities

      998,313,944       18,288,541       520,366       1,017,122,851  

Other Financial Instruments(b):

         

Assets:

 

Total Return Swaps

      – 0  –      240,593       – 0  –      240,593  

Liabilities:

 

Futures

      (173,024 )      – 0  –      – 0  –      (173,024 ) 

Total Return Swaps

      – 0  –      (970,033 )      – 0  –      (970,033 ) 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $     998,140,920     $     17,559,101     $     520,366     $     1,016,220,387  
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(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.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended March 31, 2019 is as follows:

 

Fund

    Market Value
6/30/18
(000)		      Purchases
at Cost
(000)		      Sales
Proceeds
(000)		      Market Value
3/31/19
(000)		      Dividend
Income
(000)		  

Government Money Market Portfolio

    $ 269,614      $ 530,640      $ 421,473      $ 378,781      $ 5,333  

Government Money Market Portfolio*

      17,964        124,326        137,884        4,406        115  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 287,578      $ 654,966      $ 559,357      $ 383,187      $ 5,448  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

*

Investments of cash collateral for securities lending transactions.