AB Select US Equity Portfolio

Portfolio of Investments

September 30, 2023 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 97.3%
Information Technology – 22.9%
Communications Equipment – 1.9%
Cisco Systems, Inc.		25,056	$	1,347,011
Motorola Solutions, Inc.		9,481		2,581,107
				3,928,118
IT Services – 0.3%
International Business Machines Corp.		4,689		657,867
Semiconductors & Semiconductor Equipment – 5.7%
Advanced Micro Devices, Inc.(a)		7,854		807,548
Broadcom, Inc.		4,192		3,481,791
NVIDIA Corp.		11,441		4,976,721
NXP Semiconductors NV		12,894		2,577,769
				11,843,829
Software – 10.2%
Adobe, Inc.(a)		2,972		1,515,423
Intuit, Inc.		1,544		788,891
Microsoft Corp.		45,086		14,235,904
Oracle Corp.		26,605		2,818,002
Salesforce, Inc.(a)		8,203		1,663,404
				21,021,624
Technology Hardware, Storage & Peripherals – 4.8%
Apple, Inc.		58,204		9,965,107
				47,416,545
Health Care – 14.8%
Health Care Equipment & Supplies – 3.2%
Abbott Laboratories		42,668		4,132,396
Stryker Corp.		9,448		2,581,855
				6,714,251
Health Care Providers & Services – 5.6%
HCA Healthcare, Inc.		15,598		3,836,796
Humana, Inc.		4,939		2,402,922
UnitedHealth Group, Inc.		10,686		5,387,775
				11,627,493
Life Sciences Tools & Services – 1.2%
Thermo Fisher Scientific, Inc.		4,857		2,458,468
Pharmaceuticals – 4.8%
Eli Lilly & Co.		4,400		2,363,372
Johnson & Johnson		21,774		3,391,300
Merck & Co., Inc.		39,721		4,089,277
				9,843,949
				30,644,161
Financials – 14.1%
Banks – 3.8%
Fifth Third Bancorp		43,839		1,110,442

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Company	Shares		U.S. $ Value
JPMorgan Chase & Co.		26,859	$	3,895,092
Wells Fargo & Co.		67,606		2,762,381
				7,767,915
Capital Markets – 2.4%
Charles Schwab Corp. (The)		17,959		985,949
Goldman Sachs Group, Inc. (The)		4,988		1,613,967
Jefferies Financial Group, Inc.		66,696		2,443,075
				5,042,991
Consumer Finance – 0.4%
American Express Co.		6,110		911,551
Financial Services – 6.7%
Berkshire Hathaway, Inc. - Class B(a)		26,513		9,287,504
Visa, Inc. - Class A		19,495		4,484,045
				13,771,549
Insurance – 0.8%
Progressive Corp. (The)		11,649		1,622,705
				29,116,711
Communication Services – 10.8%
Diversified Telecommunication Services – 1.6%
Comcast Corp. - Class A		49,776		2,207,068
Deutsche Telekom AG (REG)		50,498		1,059,286
				3,266,354
Entertainment – 0.8%
Netflix, Inc.(a)		2,432		918,323
Walt Disney Co. (The)(a)		8,352		676,930
				1,595,253
Interactive Media & Services – 7.3%
Alphabet, Inc. - Class A(a)		72,689		9,512,083
Meta Platforms, Inc. - Class A(a)		19,173		5,755,926
				15,268,009
Wireless Telecommunication Services – 1.1%
T-Mobile US, Inc.(a)		16,125		2,258,306
				22,387,922
Energy – 9.8%
Energy Equipment & Services – 0.9%
Schlumberger NV		33,053		1,926,990
Oil, Gas & Consumable Fuels – 8.9%
Chevron Corp.		26,426		4,455,952
EOG Resources, Inc.		38,666		4,901,302
Exxon Mobil Corp.		49,535		5,824,325
Occidental Petroleum Corp.		49,834		3,233,230
				18,414,809
				20,341,799

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Company	Shares		U.S. $ Value
Industrials – 9.3%
Aerospace & Defense – 1.9%
Boeing Co. (The)(a)		7,306	$	1,400,414
Northrop Grumman Corp.		3,204		1,410,369
RTX Corp.		14,471		1,041,478
				3,852,261
Commercial Services & Supplies – 0.6%
Republic Services, Inc.		8,734		1,244,683
Ground Transportation – 2.7%
CSX Corp.		66,763		2,052,962
Norfolk Southern Corp.		8,842		1,741,255
Union Pacific Corp.		9,133		1,859,753
				5,653,970
Industrial Conglomerates – 2.8%
Honeywell International, Inc.		31,949		5,902,258
Machinery – 1.3%
Deere & Co.		2,540		958,545
Parker-Hannifin Corp.		4,425		1,723,626
				2,682,171
				19,335,343
Consumer Staples – 7.8%
Beverages – 1.6%
PepsiCo, Inc.		19,694		3,336,951
Consumer Staples Distribution & Retail – 2.6%
Costco Wholesale Corp.		2,793		1,577,933
Kroger Co. (The)		10,088		451,438
Walmart, Inc.		21,257		3,399,632
				5,429,003
Food Products – 0.9%
Mondelez International, Inc. - Class A		27,200		1,887,680
Household Products – 2.1%
Procter & Gamble Co. (The)		29,253		4,266,843
Personal Care Products – 0.6%
Kenvue, Inc.		60,926		1,223,394
				16,143,871
Consumer Discretionary – 5.5%
Broadline Retail – 2.4%
Amazon.com, Inc.(a)		39,368		5,004,460
Hotels, Restaurants & Leisure – 2.1%
Booking Holdings, Inc.(a)		855		2,636,777
McDonald’s Corp.		6,617		1,743,183
				4,379,960
Specialty Retail – 1.0%
Home Depot, Inc. (The)		6,450		1,948,932
				11,333,352

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Company	Shares			U.S. $ Value
Utilities – 1.7%
Electric Utilities – 1.7%
NextEra Energy, Inc.			9,007	$	516,011
PPL Corp.			130,937		3,084,876
					3,600,887
Materials – 0.6%
Chemicals – 0.5%
Sherwin-Williams Co. (The)			3,877		988,829
Metals & Mining – 0.1%
Freeport-McMoRan, Inc.			8,186		305,256
					1,294,085
Total Common Stocks (cost $141,751,918)					201,614,676
SHORT-TERM INVESTMENTS – 2.7%
Investment Companies – 2.6%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(b) (c) (d) (cost $5,394,128)			5,394,128		5,394,128
	Principal Amount (000)
Time Deposits – 0.1%
Hong Kong & Shanghai Bank, Hong Kong 4.13%, 10/03/2023		HKD	155		19,821
Royal Bank of Canada, Toronto 3.80%, 10/03/2023		CAD	5		3,969
SEB, Stockholm 2.81%, 10/02/2023		EUR	100		105,540
4.17%, 10/02/2023		GBP	59		72,511
Sumitomo, Tokyo (0.38)%, 10/02/2023		JPY	1,514		10,128
Total Time Deposits (cost $211,969)					211,969
Total Short-Term Investments (cost $5,606,097)					5,606,097
Total Investments – 100.0% (cost $147,358,015)(e)					207,220,773
Other assets less liabilities – 0.0%					46,135
Net Assets – 100.0%				$	207,266,908

(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.

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(e) As of September 30, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $61,680,169 and gross unrealized depreciation of investments was $(1,817,411), resulting in net unrealized appreciation of $59,862,758.

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.    

Currency Abbreviations:

CAD – Canadian Dollar

EUR – Euro

GBP – Great British Pound

HKD – Hong Kong Dollar

JPY – Japanese Yen

Glossary:

REG – Registered Shares

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AB Select US Equity Portfolio

September 30, 2023 (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 September 30, 2023:

Investments in Securities	Level 1		Level 2		Level 3		Total
Assets:
Common Stocks:
Information Technology	$	47,416,545	$	-0-	$	-0-	$	47,416,545
Health Care		30,644,161		-0-		-0-		30,644,161
Financials		29,116,711		-0-		-0-		29,116,711
Communication Services		21,328,636		1,059,286		-0-		22,387,922
Energy		20,341,799		-0-		-0-		20,341,799
Industrials		19,335,343		-0-		-0-		19,335,343
Consumer Staples		16,143,871		-0-		-0-		16,143,871
Consumer Discretionary		11,333,352		-0-		-0-		11,333,352
Utilities		3,600,887		-0-		-0-		3,600,887
Materials		1,294,085		-0-		-0-		1,294,085
Short-Term Investments:
Investment Companies		5,394,128		-0-		-0-		5,394,128
Time Deposits		-0-		211,969		-0-		211,969
Total Investments in Securities		205,949,518		1,271,255		-0-		207,220,773
Other Financial Instruments*		-0-		-0-		-0-		-0-
Total	$	205,949,518	$	1,271,255	$	-0-	$	207,220,773

* 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, written options and written swaptions which are valued at market value.

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A summary of the Fund’s transactions in AB mutual funds for the three months ended September 30, 2023 is as follows:

Fund	Market Value 6/30/23 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 9/30/23 (000)		Dividend Income (000)
Government Money Market Portfolio	$	5,719	$	14,216	$	14,541	$	5,394	$	22
Government Money Market Portfolio*		-0-		2,549		2,549		-0-		0	**
Total							$	5,394	$	22

* Investment of cash collateral for securities lending transactions.

** Amount is less than $500.

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