NPORT-EX 2 NPORT_64RK_81153499_0322.htm FOR VALIDATION PURPOSES ONLY - [313062.64RK_0322]

AB Cap Fund, Inc.

AB Select US Long/Short Portfolio

Portfolio of Investments

March 31, 2022 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 52.2%

        

Information Technology – 12.5%

        

Communications Equipment – 0.4%

        

F5, Inc.(a)

      32,618        $ 6,815,531  
       

 

 

  

IT Services – 1.2%

        

PayPal Holdings, Inc.(a)

      36,715          4,246,090  

Stripe, Inc.(b) (c)

      24,598          918,735  

Visa, Inc. - Class A

      69,522          15,417,894  
       

 

 

  
          20,582,719  
       

 

 

  

Semiconductors & Semiconductor Equipment – 2.7%

        

Advanced Micro Devices, Inc.(a)

      86,476          9,455,286  

Broadcom, Inc.

      12,953          8,156,245  

NVIDIA Corp.

      46,548          12,701,087  

NXP Semiconductors NV

      37,188          6,882,755  

QUALCOMM, Inc.

      66,182          10,113,933  
       

 

 

  
          47,309,306  
       

 

 

  

Software – 4.8%

        

Adobe, Inc.(a)

      21,840          9,950,741  

Microsoft Corp.

      200,941          61,952,120  

Oracle Corp.

      104,063          8,609,132  

salesforce.com, Inc.(a)

      22,754          4,831,129  
       

 

 

  
          85,343,122  
       

 

 

  

Technology Hardware, Storage & Peripherals – 3.4%

        

Apple, Inc.

      350,921          61,274,316  
       

 

 

  
                 221,324,994  
       

 

 

  

Financials – 7.9%

        

Banks – 4.2%

        

Fifth Third Bancorp

      620,880          26,722,675  

JPMorgan Chase & Co.

      45,917          6,259,405  

PNC Financial Services Group, Inc. (The)

      99,021          18,264,424  

Wells Fargo & Co.

      489,905          23,740,796  
       

 

 

  
          74,987,300  
       

 

 

  

Capital Markets – 2.0%

        

Charles Schwab Corp. (The)

      194,543          16,401,920  

Goldman Sachs Group, Inc. (The)

      25,559          8,437,026  

Jefferies Financial Group, Inc.

      302,419          9,934,464  
       

 

 

  
          34,773,410  
       

 

 

  

Diversified Financial Services – 1.7%

        

Berkshire Hathaway, Inc. - Class B(a)

      87,140          30,752,578  
       

 

 

  
          140,513,288  
       

 

 

  

Health Care – 7.0%

        

Health Care Equipment & Supplies – 0.7%

        

Abbott Laboratories

      102,267          12,104,322  
       

 

 

  

Health Care Providers & Services – 2.5%

        

Humana, Inc.

      39,236          17,074,330  

UnitedHealth Group, Inc.

      55,498          28,302,315  
       

 

 

  
          45,376,645  
       

 

 

  

 

1

Company    Shares        U.S. $ Value  

Life Sciences Tools & Services – 0.9%

        

Danaher Corp.

      29,215        $ 8,569,636  

Thermo Fisher Scientific, Inc.

      12,480          7,371,312  
       

 

 

  
          15,940,948  
       

 

 

  

Pharmaceuticals – 2.9%

        

Eli Lilly & Co.

      19,760          5,658,671  

Johnson & Johnson

      157,639          27,938,360  

Pfizer, Inc.

      339,985          17,601,024  
       

 

 

  
          51,198,055  
       

 

 

  
                 124,619,970  
       

 

 

  

Industrials – 7.0%

        

Aerospace & Defense – 2.1%

        

Boeing Co. (The)(a)

      21,336          4,085,844  

Northrop Grumman Corp.

      34,257          15,320,416  

Raytheon Technologies Corp.

      182,536          18,083,841  
       

 

 

  
          37,490,101  
       

 

 

  

Commercial Services & Supplies – 0.7%

        

Republic Services, Inc. - Class A

      95,901          12,706,882  
       

 

 

  

Industrial Conglomerates – 1.5%

        

Honeywell International, Inc.

      134,790          26,227,438  
       

 

 

  

Machinery – 0.5%

        

Deere & Co.

      23,510          9,767,465  
       

 

 

  

Professional Services – 0.5%

        

Jacobs Engineering Group, Inc.

      59,690          8,225,879  
       

 

 

  

Road & Rail – 1.7%

        

CSX Corp.(d)

      214,303          8,025,648  

Norfolk Southern Corp.

      29,719          8,476,453  

Union Pacific Corp.

      46,673          12,751,530  
       

 

 

  
          29,253,631  
       

 

 

  
          123,671,396  
       

 

 

  

Communication Services – 5.5%

        

Diversified Telecommunication Services – 0.5%

        

Comcast Corp. - Class A

      177,241          8,298,424  
       

 

 

  

Entertainment – 0.9%

        

Endeavor Group Holdings, Inc.(a)

      42,514          1,255,013  

Epic Games, Inc.(b) (c)

      5,074          5,185,628  

Walt Disney Co. (The)(a)

      69,805          9,574,454  
       

 

 

  
          16,015,095  
       

 

 

  

Interactive Media & Services – 3.4%

        

Alphabet, Inc. - Class A(a)

      16,955          47,157,789  

Meta Platforms, Inc. - Class A(a)

      55,971          12,445,712  
       

 

 

  
          59,603,501  
       

 

 

  

Wireless Telecommunication Services – 0.7%

        

T-Mobile US, Inc.(a)

      100,943          12,956,034  
       

 

 

  
          96,873,054  
       

 

 

  

 

2

Company    Shares        U.S. $ Value  

Consumer Discretionary – 4.9%

        

Hotels, Restaurants & Leisure – 0.5%

        

Booking Holdings, Inc.(a)

      1,765        $ 4,145,015  

McDonald’s Corp.

      17,333          4,286,104  
       

 

 

  
          8,431,119  
       

 

 

  

Internet & Direct Marketing Retail – 1.6%

        

Amazon.com, Inc.(a)

      8,541          27,843,233  
       

 

 

  

Multiline Retail – 0.6%

        

Dollar Tree, Inc.(a)

      27,229          4,360,724  

Target Corp.

      31,736          6,735,014  
       

 

 

  
          11,095,738  
       

 

 

  

Specialty Retail – 2.2%

        

Home Depot, Inc. (The)

      64,512          19,310,377  

Lowe’s Cos., Inc.

      98,926          20,001,848  
       

 

 

  
          39,312,225  
       

 

 

  
          86,682,315  
       

 

 

  

Energy – 3.9%

        

Energy Equipment & Services – 0.3%

        

Schlumberger NV

      143,016          5,907,991  
       

 

 

  

Oil, Gas & Consumable Fuels – 3.6%

        

Chevron Corp.

      28,364          4,618,510  

EOG Resources, Inc.(d)

      213,673          25,476,232  

EQT Corp.

      98,642          3,394,271  

Exxon Mobil Corp.

      125,872          10,395,768  

Pioneer Natural Resources Co.

      80,427          20,109,163  
       

 

 

  
          63,993,944  
       

 

 

  
                   69,901,935  
       

 

 

  

Consumer Staples – 2.2%

        

Beverages – 0.8%

        

PepsiCo, Inc.

      85,564          14,321,702  
       

 

 

  

Food & Staples Retailing – 0.4%

        

Costco Wholesale Corp.

      11,178          6,436,851  
       

 

 

  

Household Products – 1.0%

        

Procter & Gamble Co. (The)

      117,047          17,884,782  
       

 

 

  
          38,643,335  
       

 

 

  

Utilities – 0.5%

        

Electric Utilities – 0.5%

        

NextEra Energy, Inc.

      104,441          8,847,197  
       

 

 

  

Materials – 0.4%

        

Chemicals – 0.4%

        

FMC Corp.

      52,126          6,858,218  
       

 

 

  

Real Estate – 0.4%

        

Equity Real Estate Investment Trusts (REITs) – 0.4%

        

SBA Communications Corp.

      18,909          6,506,587  
       

 

 

  

Total Common Stocks
(cost $885,327,194)

           924,442,289  
       

 

 

  

 

3

Company    Shares        U.S. $ Value  

WARRANTS – 0.0%

        

Financials – 0.0%

        

Capital Markets – 0.0%

        

Pershing Square Tontine Holdings Ltd., expiring 07/24/2021(a)
(cost $52,400)

      9,228        $ 8,674  
       

 

 

  

SHORT-TERM INVESTMENTS – 46.0%

        

Investment Companies – 45.6%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio -
Class AB, 0.19%(e) (f) (g)
(cost $807,576,873)

      807,576,873          807,576,873  
       

 

 

  
     Principal
Amount
(000)		           

U.S. Treasury Bills – 0.4%

        

U.S. Treasury Bill
Zero Coupon, 05/12/2022
(cost $6,997,840)

    U.S.$ 7,000          6,998,406  
       

 

 

  

Total Short-Term Investments
(cost $814,574,713)

           814,575,279  
       

 

 

  

Total Investments Before Securities Sold Short – 98.2%
(cost $1,699,954,307)

           1,739,026,242  
       

 

 

  
     Shares           

SECURITIES SOLD SHORT – (0.1)%

        

COMMON STOCKS – (0.1)%

        

Consumer Discretionary – (0.1)%

        

Hotels, Restaurants & Leisure – 0.0%

        

DraftKings, Inc.(a)

      (11,566 )         (225,190 ) 
       

 

 

  

Textiles, Apparel & Luxury Goods – (0.1)%

        

Rent the Runway, Inc.(a)

      (146,955 )         (1,012,520 ) 
       

 

 

  
          (1,237,710 ) 
       

 

 

  

Real Estate – 0.0%

        

Equity Real Estate Investment Trusts (REITs) – 0.0%

        

Acadia Realty Trust

      (11,818 )         (256,096 ) 

Agree Realty Corp.

      (2,238 )         (148,514 ) 

Chatham Lodging Trust(a)

      (18,247 )         (251,626 ) 

Regency Centers Corp.

      (3,971 )         (283,291 ) 
       

 

 

  
          (939,527 ) 
       

 

 

  

Health Care – 0.0%

        

Health Care Equipment & Supplies – 0.0%

        

Stryker Corp.

      (630 )         (168,431 ) 
       

 

 

  

Health Care Providers & Services – 0.0%

        

Laboratory Corp. of America Holdings(a)

      (788 )         (207,764 ) 
       

 

 

  
          (376,195 ) 
       

 

 

  

 

4

Company    Shares        U.S. $ Value  

Financials – 0.0%

        

Banks – 0.0%

        

HSBC Holdings PLC

      (19,563 )       $ (134,498 ) 
       

 

 

  

Insurance – 0.0%

        

Lemonade, Inc.(a)

      (2,332 )         (61,495 ) 
       

 

 

  
          (195,993 ) 
       

 

 

  

Industrials – 0.0%

        

Machinery – 0.0%

        

Snap-on, Inc.

      (630 )         (129,452 ) 
       

 

 

  

Total Securities Sold Short
(proceeds $3,435,562)

           (2,878,877 ) 
       

 

 

  

Total Investments, Net of Securities Sold Short – 98.1%
(cost $1,696,518,745)(h)

               1,736,147,365  

Other assets less liabilities – 1.9%

           33,927,860  
       

 

 

  

Net Assets – 100.0%

         $ 1,770,075,225  
       

 

 

  

FUTURES

 

Description    Number
of
Contracts		      Expiration
Month		      Current
Notional		      Value and
Unrealized
Appreciation/
(Depreciation)		  
Sold Contracts            
S&P 500 E-Mini Futures      189        June 2022      $     42,815,588      $     (2,196,897 ) 

 

(a)

Non-income producing security.

(b)

Fair valued by the Adviser.

(c)

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

(d)

Position, or a portion thereof, has been segregated to collateralize short sales.

(e)

Affiliated investments.

(f)

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.

(g)

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

(h)

As of March 31, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $60,873,624 and gross unrealized depreciation of investments was $(23,441,901), resulting in net unrealized appreciation of $37,431,723.

 

  

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:

REIT– Real Estate Investment Trust

 

5

AB Cap Fund, Inc.

AB Select US Long/Short Portfolio

March 31, 2022 (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 Portfolio’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, 2022:

 

Investments in Securities:

    Level 1      Level 2      Level 3      Total  
Assets:            
Common Stocks:            

Information Technology

    $     220,406,259      $                 —      $ 918,735      $     221,324,994  

Financials

      140,513,288        —        —        140,513,288  

Health Care

      124,619,970        —        —        124,619,970  

Industrials

      123,671,396        —        —        123,671,396  

Communication Services

      91,687,426        —        5,185,628        96,873,054  

Consumer Discretionary

      86,682,315        —        —        86,682,315  

Energy

      69,901,935        —        —        69,901,935  

Consumer Staples

      38,643,335        —        —        38,643,335  

Utilities

      8,847,197        —        —        8,847,197  

Materials

      6,858,218        —        —        6,858,218  

Real Estate

      6,506,587        —        —        6,506,587  
Warrants      8,674        —        —        8,674  

 

6

Investments in Securities:

    Level 1     Level 2     Level 3      Total  
Short-Term Investments:          

Investment Companies

      807,576,873       —       —        807,576,873  

U.S. Treasury Bills

      —       6,998,406       —        6,998,406  
Liabilities:          
Common Stocks:          

Consumer Discretionary

      (1,237,710 )      —       —        (1,237,710 ) 

Real Estate

      (939,527 )      —       —        (939,527 ) 

Health Care

      (376,195 )      —       —        (376,195 ) 

Financials

      (61,495 )      (134,498 )      —        (195,993 ) 

Industrials

      (129,452 )      —       —        (129,452 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  
Total Investments in Securities      1,723,179,094       6,863,908       6,104,363        1,736,147,365  
Other Financial Instruments(a):          
Assets      —       —       —        —  
Liabilities:          
Futures      (2,196,897 )      —       —        (2,196,897 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  
Total    $     1,720,982,197     $     6,863,908     $     6,104,363      $     1,733,950,468  
  

 

 

    

 

 

    

 

 

     

 

 

  

 

(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.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended March 31, 2022 is as follows:

 

Fund   

Market Value

06/30/2021

(000)

     

Purchases

at Cost

(000)

     

Sales

Proceeds

(000)

     

Market Value

03/31/2022

(000)

     

Dividend

Income

(000)

  
Government Money Market Portfolio    $ 408,365      $ 716,510      $ 317,298      $ 807,577      $ 95  
Government Money Market Portfolio*      5,144        25,101        30,245        0        0 ** 
Total    $   413,509      $   741,611      $   347,543      $   807,577      $   95  

 

*

Investments of cash collateral for securities lending transactions.

**

Amount less than $500.

 

7