NPORT-EX 2 NPORT_3119_BBH_22217937_0923.htm HTML

AB Sustainable US Thematic Portfolio

Portfolio of Investments

September 30, 2023 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 95.6%

        

Information Technology – 32.4%

        

Communications Equipment – 2.1%

        

Ciena Corp.(a)

     55,359        $ 2,616,267  

Lumentum Holdings, Inc.(a)

     5,179          233,987  
       

 

 

  
          2,850,254  
       

 

 

  

Electronic Equipment, Instruments & Components – 7.3%

 

     

Flex Ltd.(a)

        127,707          3,445,535  

Keysight Technologies, Inc.(a)

     25,929          3,430,666  

TE Connectivity Ltd.

      23,961          2,959,902  
       

 

 

  
          9,836,103  
       

 

 

  

IT Services – 2.5%

        

Accenture PLC - Class A

      10,939          3,359,476  
       

 

 

  

Semiconductors & Semiconductor Equipment – 8.3%

        

Advanced Micro Devices, Inc.(a)

     12,872          1,323,499  

Monolithic Power Systems, Inc.

      3,947          1,823,514  

NVIDIA Corp.

      7,418          3,226,756  

NXP Semiconductors NV

      10,117          2,022,591  

ON Semiconductor Corp.(a)

     29,258          2,719,531  
       

 

 

  
          11,115,891  
       

 

 

  

Software – 12.2%

        

Adobe, Inc.(a)

     5,606          2,858,499  

Bentley Systems, Inc. - Class B

      9,443          473,661  

Fair Isaac Corp.(a)

     2,738          2,378,035  

Intuit, Inc.

      6,785          3,466,728  

Microsoft Corp.

      15,242          4,812,662  

Palo Alto Networks, Inc.(a)

     9,928          2,327,520  
       

 

 

  
          16,317,105  
       

 

 

  
          43,478,829  
       

 

 

  

Health Care – 22.9%

        

Health Care Equipment & Supplies – 6.8%

        

Alcon, Inc.

      43,020          3,315,121  

Becton Dickinson & Co.

      11,999          3,102,101  

STERIS PLC

      12,204          2,677,802  
       

 

 

  
          9,095,024  
       

 

 

  

Health Care Providers & Services – 4.6%

        

Laboratory Corp. of America Holdings

      12,058          2,424,261  

UnitedHealth Group, Inc.

      7,262          3,661,428  
       

 

 

  
          6,085,689  
       

 

 

  

Life Sciences Tools & Services – 9.4%

        

Bio-Rad Laboratories, Inc. - Class A(a)

     4,972          1,782,214  

Bruker Corp.

      27,628          1,721,224  

Danaher Corp.

      14,037          3,482,580  

ICON PLC(a)

     12,868          3,168,745  

West Pharmaceutical Services, Inc.

      6,663          2,500,024  
       

 

 

  
                12,654,787  
       

 

 

  

 

1

Company    Shares        U.S. $ Value  

Pharmaceuticals – 2.1%

        

Johnson & Johnson

      18,268        $ 2,845,241  
       

 

 

  
                30,680,741  
       

 

 

  

Industrials – 13.2%

        

Aerospace & Defense – 1.7%

        

Hexcel Corp.

      34,762          2,264,397  
       

 

 

  

Building Products – 2.0%

        

Owens Corning

      19,894          2,713,740  
       

 

 

  

Commercial Services & Supplies – 4.4%

        

Tetra Tech, Inc.

      17,099          2,599,561  

Waste Management, Inc.

      22,129          3,373,345  
       

 

 

  
          5,972,906  
       

 

 

  

Electrical Equipment – 1.5%

        

Rockwell Automation, Inc.

      7,127          2,037,395  
       

 

 

  

Machinery – 2.2%

        

Deere & Co.

      7,687          2,900,920  
       

 

 

  

Professional Services – 1.4%

        

Maximus, Inc.

      24,766          1,849,525  
       

 

 

  
          17,738,883  
       

 

 

  

Financials – 10.8%

        

Capital Markets – 4.7%

        

Intercontinental Exchange, Inc.

      25,749          2,832,905  

MSCI, Inc.

      6,762          3,469,447  
       

 

 

  
          6,302,352  
       

 

 

  

Financial Services – 3.1%

        

Visa, Inc. - Class A

      17,833          4,101,768  
       

 

 

  

Insurance – 3.0%

        

Aflac, Inc.

      52,804          4,052,707  
       

 

 

  
          14,456,827  
       

 

 

  

Consumer Staples – 6.5%

        

Household Products – 2.5%

        

Procter & Gamble Co. (The)

      23,029          3,359,010  

Personal Care Products – 4.0%

        

Haleon PLC (ADR)(b)

        237,228          1,976,109  

Unilever PLC (Sponsored ADR)

      68,478          3,382,813  
       

 

 

  
          5,358,922  
       

 

 

  
          8,717,932  
       

 

 

  

Consumer Discretionary – 5.3%

        

Automobile Components – 1.7%

        

Aptiv PLC(a)

     22,242          2,192,839  
       

 

 

  

Household Durables – 1.9%

        

TopBuild Corp.(a)

     9,992          2,513,987  
       

 

 

  

Specialty Retail – 1.7%

        

Home Depot, Inc. (The)

      7,649          2,311,222  
       

 

 

  
          7,018,048  
       

 

 

  

 

2

Company    Shares        U.S. $ Value  

Utilities – 3.4%

        

Electric Utilities – 2.0%

        

NextEra Energy, Inc.

      45,923        $ 2,630,929  
       

 

 

  

Water Utilities – 1.4%

        

American Water Works Co., Inc.

      15,254          1,888,903  
       

 

 

  
          4,519,832  
       

 

 

  

Real Estate – 1.1%

        

Specialized REITs – 1.1%

        

SBA Communications Corp.

      7,576          1,516,488  
       

 

 

  

Total Common Stocks
(cost $97,476,266)

           128,127,580  
       

 

 

  

SHORT-TERM INVESTMENTS – 4.5%

        

Investment Companies – 4.5%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(c) (d) (e)
(cost $6,051,498)

      6,051,498          6,051,498  
       

 

 

  

Total Investments Before Security Lending Collateral for Securities Loaned – 100.1%
(cost $103,527,764)

           134,179,078  
       

 

 

  

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.0%

        

Investment Companies – 0.0%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.25%(c) (d) (e)
(cost $43,214)

      43,214          43,214  
       

 

 

  

Total Investments – 100.1%
(cost $103,570,978)(f)

          134,222,292  

Other assets less liabilities – (0.1)%

           (121,051 ) 
       

 

 

  

Net Assets – 100.0%

         $     134,101,241  
       

 

 

  

 

(a)

Non-income producing security.

(b)

Represents entire or partial securities out on loan.

(c)

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.

(d)

Affiliated investments.

(e)

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

(f)

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 $32,184,324 and gross unrealized depreciation of investments was $(1,533,010), resulting in net unrealized appreciation of $30,651,314.

Glossary:

ADR – American Depositary Receipt

REIT – Real Estate Investment Trust

 

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AB Sustainable US Thematic 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^    $     128,127,580      $                 -0-      $                 -0-      $     128,127,580  
Short-Term Investments:            

Investment Companies

      6,051,498        -0-        -0-        6,051,498  
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund      43,214        -0-        -0-        43,214  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      134,222,292        -0-        -0-        134,222,292  
Other Financial Instruments*      -0-        -0-        -0-        -0-  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $ 134,222,292      $ -0-      $ -0-      $ 134,222,292  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

^

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

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    $ 8,047      $ 6,523      $ 8,519      $ 6,051      $ 25  
Government Money Market Portfolio*          1,996            14,657            16,610        43        7  
Total                               $     6,094      $     32  

 

*

Investment of cash collateral for securities lending transactions.

 

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