NPORT-EX 2 NPORT_6365905865668747.htm HTML[877387.FFLCG]

AB Cap Fund, Inc.

AB FlexFee Large Cap Growth Portfolio

Portfolio of Investments

March 31, 2020 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 94.9%

        

Information Technology – 27.3%

        

Communications Equipment – 1.7%

        

Arista Networks, Inc.(a)

      10,939        $ 2,215,694  

Motorola Solutions, Inc.

      14,094          1,873,375  
       

 

 

  
          4,089,069  
       

 

 

  

Electronic Equipment, Instruments & Components – 1.1%

        

Amphenol Corp. - Class A

      9,602          699,794  

Cognex Corp.(b)

      18,992          801,842  

IPG Photonics Corp.(a)

      9,622          1,061,114  
       

 

 

  
          2,562,750  
       

 

 

  

IT Services – 7.7%

        

Euronet Worldwide, Inc.(a)

      20,585          1,764,546  

PayPal Holdings, Inc.(a)

      66,772          6,392,751  

Visa, Inc. - Class A

      65,780          10,598,474  
       

 

 

  
          18,755,771  
       

 

 

  

Semiconductors & Semiconductor Equipment – 4.8%

        

ASML Holding NV (ADR)

      8,040          2,103,586  

NVIDIA Corp.

      9,034          2,381,362  

QUALCOMM, Inc.

      24,119          1,631,650  

Texas Instruments, Inc.

      8,188          818,227  

Xilinx, Inc.

      61,225          4,771,877  
       

 

 

  
          11,706,702  
       

 

 

  

Software – 12.0%

        

Adobe, Inc.(a)

      13,327          4,241,184  

ANSYS, Inc.(a)

      2,183          507,482  

Microsoft Corp.

      112,108          17,680,553  

Paycom Software, Inc.(a)

      7,491          1,513,257  

Slack Technologies, Inc. - Class A(a)

      67,699          1,817,041  

Splunk, Inc.(a)

      10,477          1,322,512  

Tyler Technologies, Inc.(a)

      6,760          2,004,745  
       

 

 

  
          29,086,774  
       

 

 

  
          66,201,066  
       

 

 

  

Health Care – 26.6%

        

Biotechnology – 6.2%

        

Regeneron Pharmaceuticals, Inc.(a)

      11,905          5,813,092  

Vertex Pharmaceuticals, Inc.(a)

      38,846          9,243,406  
       

 

 

  
          15,056,498  
       

 

 

  

Health Care Equipment & Supplies – 9.0%

        

ABIOMED, Inc.(a)

      9,439          1,370,165  

Align Technology, Inc.(a)

      12,704          2,209,861  

Edwards Lifesciences Corp.(a)

      29,405          5,546,371  

IDEXX Laboratories, Inc.(a)

      10,444          2,529,954  

Intuitive Surgical, Inc.(a) (b)

      15,639          7,744,589  

Stryker Corp.

      14,642          2,437,747  
       

 

 

  
                21,838,687  
       

 

 

  
Company    Shares        U.S. $ Value  

Health Care Providers & Services – 4.7%

        

UnitedHealth Group, Inc.

      45,853        $ 11,434,821  
       

 

 

  

Health Care Technology – 1.0%

        

Veeva Systems, Inc. - Class A(a) (b)

      14,696          2,298,014  
       

 

 

  

Life Sciences Tools & Services – 2.1%

        

Illumina, Inc.(a)

      13,663          3,731,639  

Mettler-Toledo International, Inc.(a)

      1,881          1,298,849  
       

 

 

  
          5,030,488  
       

 

 

  

Pharmaceuticals – 3.6%

        

Zoetis, Inc.

      73,148          8,608,788  
       

 

 

  
          64,267,296  
       

 

 

  

Consumer Discretionary – 14.9%

        

Hotels, Restaurants & Leisure – 0.9%

        

Domino’s Pizza, Inc.

      6,947          2,251,314  
       

 

 

  

Internet & Direct Marketing Retail – 5.8%

        

Amazon.com, Inc.(a)

      5,956          11,612,532  

Booking Holdings, Inc.(a)

      1,292          1,738,154  

Etsy, Inc.(a)

      18,391          706,950  
       

 

 

  
                14,057,636  
       

 

 

  

Specialty Retail – 5.8%

        

Burlington Stores, Inc.(a)

      18,879          2,991,566  

Five Below, Inc.(a)

      11,227          790,156  

Home Depot, Inc. (The)

      28,853          5,387,144  

TJX Cos., Inc. (The)

      65,194          3,116,925  

Ulta Beauty, Inc.(a)

      9,798          1,721,509  
       

 

 

  
          14,007,300  
       

 

 

  

Textiles, Apparel & Luxury Goods – 2.4%

        

NIKE, Inc. - Class B

      70,811          5,858,902  
       

 

 

  
          36,175,152  
       

 

 

  

Communication Services – 14.0%

        

Entertainment – 2.3%

        

Electronic Arts, Inc.(a)

      51,221          5,130,808  

Take-Two Interactive Software, Inc.(a) (b)

      4,010          475,626  
       

 

 

  
          5,606,434  
       

 

 

  

Interactive Media & Services – 11.7%

        

Alphabet, Inc. - Class C(a)

      14,074          16,365,388  

Facebook, Inc. - Class A(a)

      70,960          11,836,128  
       

 

 

  
          28,201,516  
       

 

 

  
          33,807,950  
       

 

 

  
Company    Shares        U.S. $ Value  

Consumer Staples – 5.9%

        

Beverages – 3.8%

        

Monster Beverage Corp.(a) (b)

      162,201        $ 9,125,428  
       

 

 

  

Food & Staples Retailing – 2.1%

        

Costco Wholesale Corp.

      17,967          5,122,931  
       

 

 

  
          14,248,359  
       

 

 

  

Industrials – 4.2%

        

Building Products – 1.3%

        

Allegion PLC

      34,008          3,129,416  
       

 

 

  

Commercial Services & Supplies – 0.7%

        

Copart, Inc.(a) (b)

      25,197          1,726,498  
       

 

 

  

Electrical Equipment – 0.3%

        

AMETEK, Inc.

      11,224          808,353  
       

 

 

  

Industrial Conglomerates – 1.5%

        

Roper Technologies, Inc.(b)

      11,784          3,674,369  
       

 

 

  

Machinery – 0.4%

        

IDEX Corp.

      6,441          889,567  
       

 

 

  
          10,228,203  
       

 

 

  

Materials – 1.6%

        

Chemicals – 1.6%

        

Sherwin-Williams Co. (The)

      8,357          3,840,209  
       

 

 

  

Financials – 0.4%

        

Capital Markets – 0.4%

        

S&P Global, Inc.

      3,656          895,903  
       

 

 

  

Total Common Stocks
(cost $211,135,503)

           229,664,138  
       

 

 

  

SHORT-TERM INVESTMENTS – 3.0%

        

Investment Companies – 3.0%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(c) (d) (e)
(cost $7,185,414)

      7,185,414          7,185,414  
       

 

 

  

Total Investments Before Security Lending Collateral for Securities Loaned – 97.9%
(cost $218,320,917)

               236,849,552  
       

 

 

  

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 2.3%

        

Investment Companies – 2.3%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(c) (d) (e)
(cost $5,502,324)

      5,502,324          5,502,324  
       

 

 

  
                U.S. $ Value  

Total Investments – 100.2%
(cost $223,823,241)(f)

         $ 242,351,876  

Other assets less liabilities – (0.2)%

           (400,202 ) 
       

 

 

  

Net Assets – 100.0%

         $    241,951,674  
       

 

 

  

 

(a)

Non-income producing security.

(b)

Represents entire or partial securities out on loan.

(c)

Affiliated investments.

(d)

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

(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, or call AB at (800) 227-4618.

(f)

As of March 31, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $24,728,006 and gross unrealized depreciation of investments was $(6,199,371), resulting in net unrealized appreciation of $18,528,635.

Glossary:

ADR – American Depositary Receipt

AB Cap Fund, Inc.

AB FlexFee Large Cap Growth Portfolio

March 31, 2020 (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, 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, 2020:

 

Investments in Securities

    Level 1      Level 2      Level 3      Total  
Assets:            
Common Stocks^    $ 229,664,138      $ -0-      $ -0-      $ 229,664,138  
Short-Term Investments:            

Investment Companies

      7,185,414        -0-        -0-        7,185,414  
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund      5,502,324        -0-        -0-        5,502,324  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      242,351,876        -0-        -0-        242,351,876  
Other Financial Instruments*      -0-        -0-        -0-        -0-  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $     242,351,876      $                 -0-      $                 -0-      $     242,351,876  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

^

See Portfolio of Investments for sector classifications.

 

*

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 three months ended March 31, 2020 is as follows:

 

Fund   

Market Value

12/31/19

(000)

     

Purchases

at Cost

(000)

     

Sales

Proceeds

(000)

     

Market Value

3/31/20

(000)

     

Dividend

Income

(000)

  
Government Money Market Portfolio    $     27,443      $     35,114      $     55,372      $ 7,185      $ 66  
Government Money Market Portfolio*.      -0-        6,455        953        5,502        0 ** 
Total                               $     12,687      $     66  

 

*

Investment of cash collateral for securities lending transactions.

 

**

Amount is less than $500.