AB Variable Products Series Fund, Inc.

AB Balanced Wealth Strategy Portfolio

Portfolio of Investments

March 31, 2019 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS - 39.1%
Information Technology - 7.4%
Communications Equipment - 0.5%
Cisco Systems, Inc.		16,903	$	912,593
F5 Networks, Inc. (a)		476		74,699
Nokia Oyj (Sponsored ADR)-Class A		83,638		478,409
				1,465,701
Electronic Equipment, Instruments & Components - 0.2%
CDW Corp./DE		4,828		465,274
IT Services - 1.9%
Accenture PLC-Class A		277		48,758
Automatic Data Processing, Inc.		4,971		794,068
Cognizant Technology Solutions Corp.-Class A		6,539		473,751
Fidelity National Information Services, Inc.		6,768		765,461
Mastercard, Inc.-Class A		516		121,492
Paychex, Inc.		1,017		81,563
PayPal Holdings, Inc. (a)		7,429		771,427
Visa, Inc.-Class A		11,459		1,789,781
				4,846,301
Semiconductors & Semiconductor Equipment - 0.8%
Micron Technology, Inc. (a)		157		6,489
Texas Instruments, Inc.		10,398		1,102,916
Xilinx, Inc.		7,075		897,039
				2,006,444
Software - 2.6%
Adobe, Inc. (a)		2,911		775,752
Cadence Design Systems, Inc. (a)		169		10,733
Check Point Software Technologies Ltd. (a)		5,216		659,772
Dassault Systemes SE		227		33,834
Fortinet, Inc. (a)		620		52,061
Intuit, Inc.		346		90,448
Microsoft Corp.		27,080		3,193,815
Oracle Corp.		21,833		1,172,650
Trend Micro, Inc./Japan		700		34,140
VMware, Inc.-Class A		3,474		627,092
				6,650,297
Technology Hardware, Storage & Peripherals - 1.4%
Apple, Inc.		13,255		2,517,788
HP, Inc.		26,212		509,299
Xerox Corp.		19,530		624,569
				3,651,656
				19,085,673
Financials - 4.7%
Banks - 2.1%
Bank of America Corp.		54,261		1,497,061
Barclays PLC		2,975		5,992
Citigroup, Inc.		17,326		1,078,024
Citizens Financial Group, Inc.		301		9,782
JPMorgan Chase & Co.		13,852		1,402,238
Lloyds Banking Group PLC		82,042		66,468
Royal Bank of Scotland Group PLC		10,791		34,748
Wells Fargo & Co.		27,248		1,316,624
				5,410,937

Company	Shares		U.S. $ Value
Capital Markets - 0.6%
ASX Ltd.		248	$	12,319
Daiwa Securities Group, Inc.		7,800		38,020
Goldman Sachs Group, Inc. (The)		4,426		849,748
Hong Kong Exchanges & Clearing Ltd.		1,000		34,939
MSCI, Inc.-Class A		410		81,524
Partners Group Holding AG		26		18,914
S&P Global, Inc.		2,411		507,636
SEI Investments Co.		762		39,815
Singapore Exchange Ltd.		7,300		39,461
				1,622,376
Consumer Finance - 0.2%
Discover Financial Services		495		35,224
Synchrony Financial		18,250		582,175
				617,399
Diversified Financial Services - 0.7%
Berkshire Hathaway, Inc.-Class B (a)		8,350		1,677,432
Insurance - 1.1%
Admiral Group PLC		1,057		29,898
Everest Re Group Ltd.		4,428		956,271
Fidelity National Financial, Inc.		23,665		864,956
Japan Post Holdings Co., Ltd.		300		3,511
Legal & General Group PLC		10,249		36,780
MetLife, Inc.		1,844		78,499
PICC Property & Casualty Co., Ltd.-Class H		34,000		38,706
Progressive Corp. (The)		10,838		781,311
				2,789,932
				12,118,076
Real Estate - 4.5%
Diversified Real Estate Activities - 0.3%
City Developments Ltd.		9,900		66,255
Mitsubishi Estate Co., Ltd.		3,000		54,435
Mitsui Fudosan Co., Ltd.		9,000		226,724
New World Development Co., Ltd.		41,000		68,048
Sumitomo Realty & Development Co., Ltd.		2,100		87,129
Sun Hung Kai Properties Ltd.		10,000		171,907
UOL Group Ltd.		7,700		39,586
				714,084
Diversified REITs - 0.2%
Armada Hoffler Properties, Inc.		4,972		77,513
Empire State Realty Trust, Inc.-Class A		4,016		63,453
Essential Properties Realty Trust, Inc.		4,374		85,380
Fibra Uno Administracion SA de CV		13,590		18,729
GPT Group (The)		25,437		112,204
H&R Real Estate Investment Trust		2,916		51,082
Hulic Reit, Inc.		43		73,274
Kenedix Office Investment Corp.-Class A		4		27,771
Merlin Properties Socimi SA		4,144		54,233
Mirvac Group		30,588		59,751
				623,390

Company	Shares		U.S. $ Value
Equity Real Estate Investment Trusts (REITs) - 1.5%
CubeSmart		25,955	$	831,598
Equinix, Inc.		186		84,288
Link REIT		10,268		120,214
Mid-America Apartment Communities, Inc.		14,230		1,555,766
Regency Centers Corp.		17,957		1,211,918
Scentre Group		2,068		6,037
				3,809,821
Health Care REITs - 0.1%
HCP, Inc.		4,818		150,804
Medical Properties Trust, Inc.		5,920		109,579
Omega Healthcare Investors, Inc.		3,161		120,592
Physicians Realty Trust		2,110		39,689
				420,664
Hotel & Resort REITs - 0.1%
Japan Hotel REIT Investment Corp.		60		48,372
Park Hotels & Resorts, Inc.		3,541		110,054
RLJ Lodging Trust		5,306		93,226
				251,652
Industrial REITs - 0.3%
Goodman Group		7,216		68,435
Nippon Prologis REIT, Inc.		27		57,484
Prologis, Inc.		4,158		299,168
Rexford Industrial Realty, Inc.		1,541		55,183
Segro PLC		7,896		69,311
STAG Industrial, Inc.		3,129		92,775
Tritax Big Box REIT PLC		24,260		45,393
				687,749
Office REITs - 0.3%
Alexandria Real Estate Equities, Inc.		1,037		147,835
Boston Properties, Inc.		1,000		133,880
Brandywine Realty Trust		2,966		47,041
CapitaLand Commercial Trust		48,000		68,771
City Office REIT, Inc.		2,980		33,704
Cousins Properties, Inc.		7,058		68,180
Daiwa Office Investment Corp.		6		42,682
Great Portland Estates PLC		4,180		40,658
Ichigo Office REIT Investment		43		41,204
Inmobiliaria Colonial Socimi SA		4,088		42,051
Japan Real Estate Investment Corp.		8		47,157
Kilroy Realty Corp.		1,009		76,644
Nippon Building Fund, Inc.		10		67,713
Orix JREIT, Inc.		24		41,184
				898,704
Real Estate Development - 0.1%
CIFI Holdings Group Co., Ltd.		40,000		30,381
CK Asset Holdings Ltd.		20,500		182,569
Instone Real Estate Group AG (a)(b)		1,030		23,108
				236,058

Company	Shares		U.S. $ Value
Real Estate Management & Development - 0.3%
CBRE Group, Inc.-Class A (a)		15,241	$	753,667
Daito Trust Construction Co., Ltd.		200		27,904
				781,571
Real Estate Operating Companies - 0.4%
ADO Properties SA (b)		656		37,299
Aroundtown SA		12,678		104,575
Azrieli Group Ltd.		731		43,300
CA Immobilien Anlagen AG		1,868		67,473
Castellum AB		2,062		40,014
Deutsche Wohnen SE		2,390		115,975
Entra ASA (b)		2,700		40,779
Fabege AB		3,932		57,145
Hemfosa Fastigheter AB		4,374		38,413
Swire Properties Ltd.		18,400		79,192
TLG Immobilien AG		1,315		39,592
Vonovia SE		3,943		204,624
Wharf Real Estate Investment Co., Ltd.		14,000		104,338
				972,719
Real Estate Services - 0.1%
Unibail-Rodamco-Westfield		867		142,130
Residential REITs - 0.4%
American Campus Communities, Inc.		1,488		70,799
American Homes 4 Rent-Class A		4,083		92,766
Apartment Investment & Management Co.-Class A		2,225		111,895
Camden Property Trust		1,282		130,123
Essex Property Trust, Inc.		544		157,347
Independence Realty Trust, Inc.		7,287		78,627
Killam Apartment Real Estate Investment Trust		3,401		49,373
Nippon Accommodations Fund, Inc.		10		50,736
Northview Apartment Real Estate Investment Trust		1,815		39,414
Sun Communities, Inc.		1,078		127,765
UNITE Group PLC (The)		4,230		50,563
				959,408
Retail REITs - 0.3%
Agree Realty Corp.		988		68,508
British Land Co. PLC (The)		6,380		48,983
Brixmor Property Group, Inc.		6,784		124,622
Japan Retail Fund Investment Corp.		12		24,113
National Retail Properties, Inc.		1,936		107,235
Retail Properties of America, Inc.-Class A		6,330		77,163
Simon Property Group, Inc.		1,039		189,316
SITE Centers Corp.		3,735		50,871
Vicinity Centres		15,150		27,972
				718,783

Company	Shares		U.S. $ Value
Specialized REITs - 0.1%
Digital Realty Trust, Inc.		1,490	$	177,310
EPR Properties		818		62,904
MGM Growth Properties LLC-Class A		2,510		80,947
National Storage Affiliates Trust		2,982		85,017
Safestore Holdings PLC		2,370		18,413
				424,591
				11,641,324
Health Care - 4.2%
Biotechnology - 0.9%
AbbVie, Inc.		908		73,176
Amgen, Inc.		398		75,612
Biogen, Inc. (a)		2,619		619,080
Celgene Corp. (a)		688		64,906
Gilead Sciences, Inc.		14,741		958,312
Vertex Pharmaceuticals, Inc. (a)		3,228		593,790
				2,384,876
Health Care Equipment & Supplies - 0.5%
Cochlear Ltd.		282		34,771
Coloplast A/S-Class B		564		61,911
Edwards Lifesciences Corp. (a)		3,254		622,588
Hoya Corp.		700		46,366
Medtronic PLC		6,045		550,578
				1,316,214
Health Care Providers & Services - 1.1%
Anthem, Inc.		3,641		1,044,894
Centene Corp. (a)		539		28,621
McKesson Corp.		565		66,139
UnitedHealth Group, Inc.		6,576		1,625,982
				2,765,636
Pharmaceuticals - 1.7%
Astellas Pharma, Inc.		3,000		45,077
GlaxoSmithKline PLC		1,646		34,197
Johnson & Johnson		39		5,452
Merck & Co., Inc.		15,970		1,328,225
Novo Nordisk A/S-Class B		1,494		78,084
Pfizer, Inc.		37,694		1,600,864
Roche Holding AG		363		100,026
Sanofi		837		74,011
Shionogi & Co., Ltd.		500		31,041
Teva Pharmaceutical Industries Ltd. (Sponsored ADR) (a)		20,138		315,764
Zoetis, Inc.		9,173		923,446
				4,536,187
				11,002,913
Consumer Discretionary - 4.0%
Auto Components - 0.3%
Magna International, Inc.-Class A (Canada)		881		42,898
Magna International, Inc.-Class A (United States)		14,148		688,866
				731,764

Company	Shares		U.S. $ Value
Automobiles - 0.0%
General Motors Co.		1,402	$	52,014
Hotels, Restaurants & Leisure - 0.2%
Compass Group PLC		381		8,964
McDonald’s Corp.		3,688		700,352
				709,316
Household Durables - 0.1%
Berkeley Group Holdings PLC		922		44,325
Electrolux AB-Class B		2,241		57,708
Garmin Ltd.		922		79,615
Nikon Corp.		700		9,897
				191,545
Internet & Direct Marketing Retail - 0.4%
Amazon.com, Inc. (a)		50		89,037
Booking Holdings, Inc. (a)		466		813,128
Expedia Group, Inc.		640		76,160
Rakuten, Inc.		2,000		18,980
				997,305
Multiline Retail - 0.4%
Dollar General Corp.		7,397		882,462
Next PLC		858		62,347
Target Corp.		1,045		83,872
				1,028,681
Specialty Retail - 2.1%
AutoZone, Inc. (a)		1,024		1,048,699
Best Buy Co., Inc.		1,128		80,156
Gap, Inc. (The)		1,295		33,903
Hennes & Mauritz AB-Class B		4,069		67,884
Hikari Tsushin, Inc.		100		18,981
Home Depot, Inc. (The)		7,751		1,487,339
Ross Stores, Inc.		10,354		963,957
TJX Cos., Inc. (The)		23,637		1,257,725
Ulta Salon Cosmetics & Fragrance, Inc. (a)		1,238		431,728
				5,390,372
Textiles, Apparel & Luxury Goods - 0.5%
Burberry Group PLC		2,001		50,999
Cie Financiere Richemont SA		855		62,375
HUGO BOSS AG		76		5,196
NIKE, Inc.-Class B		13,101		1,103,235
Pandora A/S		698		32,680
				1,254,485
				10,355,482
Energy - 3.7%
Energy Equipment & Services - 0.2%
C&J Energy Services, Inc. (a)		7,080		109,882
Halliburton Co.		5,260		154,118
National Oilwell Varco, Inc.		11,604		309,130
Petrofac Ltd.		3,430		21,865
				594,995

Company	Shares		U.S. $ Value
Oil, Gas & Consumable Fuels - 3.5%
Aker BP ASA		2,260	$	80,597
Anadarko Petroleum Corp.		3,580		162,818
BP PLC		63,750		462,919
Chevron Corp.		12,812		1,578,181
Concho Resources, Inc.		730		81,001
ConocoPhillips		140		9,344
Continental Resources, Inc./OK (a)		2,380		106,553
Cosan SA		3,300		35,947
Enagas SA		149		4,338
EOG Resources, Inc.		10,048		956,368
Exxon Mobil Corp.		14,648		1,183,559
Gran Tierra Energy, Inc. (a)		12,450		28,322
Imperial Oil Ltd.		139		3,794
Inpex Corp.		6,100		58,029
JXTG Holdings, Inc.		23,700		108,189
LUKOIL PJSC (Sponsored ADR)		1,410		126,068
Marathon Petroleum Corp.		5,021		300,507
Motor Oil Hellas Corinth Refineries SA		3,030		70,357
Origin Energy Ltd.		14,220		72,792
PetroChina Co., Ltd.-Class H		354,000		231,733
Petroleo Brasileiro SA (Preference Shares)		29,800		213,567
Phillips 66		34		3,236
Repsol SA		15,688		268,395
Royal Dutch Shell PLC (Sponsored ADR)		16,315		1,043,344
Royal Dutch Shell PLC-Class A		299		9,396
Royal Dutch Shell PLC-Class B		33,920		1,072,061
S-Oil Corp.		834		65,829
SM Energy Co.		5,940		103,891
TOTAL SA		8,170		454,655
TransCanada Corp.		820		36,829
Tupras Turkiye Petrol Rafinerileri AS		2,860		64,144
Valero Energy Corp.		295		25,025
Whiting Petroleum Corp. (a)		2,010		52,541
Woodside Petroleum Ltd.		323		7,930
				9,082,259
				9,677,254
Communication Services - 3.6%
Diversified Telecommunication Services - 0.5%
Eurazeo SE		749		56,320
Telenor ASA		804		16,099
Verizon Communications, Inc.		18,651		1,102,834
Washington H Soul Pattinson & Co., Ltd.		666		12,463
				1,187,716
Entertainment - 0.4%
Live Nation Entertainment, Inc. (a)		917		58,266
Nexon Co., Ltd. (a)		2,900		45,606
Ubisoft Entertainment SA (a)		533		47,529
Vivendi SA		630		18,258
Walt Disney Co. (The)		8,934		991,942
				1,161,601

Company	Shares		U.S. $ Value
Interactive Media & Services - 1.9%
Alphabet, Inc.-Class A (a)		31	$	36,484
Alphabet, Inc.-Class C (a)		2,617		3,070,552
Facebook, Inc.-Class A (a)		10,267		1,711,406
Kakaku.com, Inc.		2,100		40,457
				4,858,899
Media - 0.6%
Comcast Corp.-Class A		37,316		1,491,894
Fox Corp.-Class B (a)		575		20,631
				1,512,525
Wireless Telecommunication Services - 0.2%
Rogers Communications, Inc.-Class B		1,013		54,480
Softbank Corp.		2,900		32,672
T-Mobile US, Inc. (a)		7,511		519,010
				606,162
				9,326,903
Consumer Staples - 2.7%
Beverages - 0.5%
Coca-Cola Amatil Ltd.		6,372		39,163
Monster Beverage Corp. (a)		1,385		75,593
PepsiCo, Inc.		10,012		1,226,970
				1,341,726
Food & Staples Retailing - 1.2%
Carrefour SA		514		9,600
Colruyt SA		825		60,961
Costco Wholesale Corp.		3,981		963,959
J Sainsbury PLC		18,981		58,246
Jeronimo Martins SGPS SA		547		8,077
Koninklijke Ahold Delhaize NV		2,454		65,335
Kroger Co. (The)		2,797		68,806
US Foods Holding Corp. (a)		23,511		820,769
Walmart, Inc.		11,471		1,118,766
Woolworths Group Ltd.		345		7,451
				3,181,970
Food Products - 0.1%
Archer-Daniels-Midland Co.		188		8,108
Hershey Co. (The)		720		82,678
Nestle SA		590		56,257
				147,043
Household Products - 0.5%
Kimberly-Clark Corp.		304		37,666
Procter & Gamble Co. (The)		11,201		1,165,464
				1,203,130
Personal Products - 0.0%
Unilever PLC		1,267		72,932

Company	Shares		U.S. $ Value
Tobacco - 0.4%
Altria Group, Inc.		16,322	$	937,372
				6,884,173
Industrials - 2.2%
Aerospace & Defense - 0.9%
Boeing Co. (The)		2,497		952,406
Northrop Grumman Corp.		1,475		397,660
Raytheon Co.		5,812		1,058,249
Thales SA		209		25,040
				2,433,355
Air Freight & Logistics - 0.1%
CH Robinson Worldwide, Inc.		898		78,117
Expeditors International of Washington, Inc.		1,022		77,570
Kuehne & Nagel International AG		359		49,257
				204,944
Airlines - 0.3%
Delta Air Lines, Inc.		15,425		796,701
Japan Airlines Co., Ltd.		400		14,096
				810,797
Building Products - 0.1%
Cie de Saint-Gobain		1,007		36,513
Lennox International, Inc.		304		80,377
				116,890
Commercial Services & Supplies - 0.0%
G4S PLC		3,757		8,990
Societe BIC SA		607		54,113
				63,103
Construction & Engineering - 0.0%
HOCHTIEF AG		363		52,596
Electrical Equipment - 0.0%
Legrand SA		909		60,858
Industrial Conglomerates - 0.4%
Honeywell International, Inc.		6,762		1,074,617
Machinery - 0.0%
Volvo AB-Class B		4,143		64,283
Professional Services - 0.1%
RELX PLC (London)		1,048		22,426
Robert Half International, Inc.		1,103		71,872
Wolters Kluwer NV		760		51,778
				146,076
Road & Rail - 0.3%
Central Japan Railway Co.		200		46,489
DSV A/S		526		43,528
Norfolk Southern Corp.		3,633		678,971
Union Pacific Corp.		63		10,534
				779,522
				5,807,041

Company	Shares		U.S. $ Value
Materials - 1.2%
Chemicals - 0.4%
BASF SE		677	$	49,927
Covestro AG (b)		1,045		57,654
Johnson Matthey PLC		2,734		112,119
LyondellBasell Industries NV-Class A		885		74,411
Methanex Corp.		536		30,443
Mosaic Co. (The)		5,190		141,739
Sasol Ltd.		1,750		54,566
Sherwin-Williams Co. (The)		192		82,696
Westlake Chemical Corp.		6,403		434,507
				1,038,062
Construction Materials - 0.0%
Grupo Cementos de Chihuahua SAB de CV		3,320		18,293
Containers & Packaging - 0.0%
CCL Industries, Inc.-Class B		473		19,149
Metals & Mining - 0.8%
Agnico Eagle Mines Ltd.		4,213		183,167
Alcoa Corp. (a)		5,560		156,570
Anglo American PLC		1,506		40,280
Antofagasta PLC		8,570		107,825
APERAM SA		1,000		28,539
Boliden AB		5,850		166,719
Detour Gold Corp. (a)		4,120		38,661
First Quantum Minerals Ltd.		10,230		115,976
Fortescue Metals Group Ltd.		551		2,789
Glencore PLC (a)		74,600		309,154
Industrias Penoles SAB de CV		2,490		31,074
Kinross Gold Corp. (a)		4,919		16,932
Lundin Mining Corp.		13,370		62,030
MMC Norilsk Nickel PJSC (ADR)		3,880		81,577
Newcrest Mining Ltd.		3,230		58,495
Norsk Hydro ASA		15,090		61,368
Orocobre Ltd. (a)		5,420		13,009
OZ Minerals Ltd.		6,050		45,635
Polyus PJSC (GDR) (b)		920		38,069
Rio Tinto Ltd.		389		27,091
Rio Tinto PLC		1,640		95,322
Sumitomo Metal Mining Co., Ltd.		1,700		50,374
Syrah Resources Ltd. (a)		20,610		15,730
Vale SA (Sponsored ADR)-Class B		13,220		172,653
Yamato Kogyo Co., Ltd.		2,800		76,577
				1,995,616
				3,071,120
Utilities - 0.9%
Electric Utilities - 0.5%
American Electric Power Co., Inc.		12,952		1,084,730
Exelon Corp.		1,216		60,958
Red Electrica Corp. SA		2,734		58,280
				1,203,968

Company	Shares		U.S. $ Value
Multi-Utilities - 0.4%
National Grid PLC		5,698	$	63,250
NiSource, Inc.		32,476		930,762
Sempra Energy		340		42,792
				1,036,804
				2,240,772
Transportation - 0.0%
Highways & Railtracks - 0.0%
Transurban Group		9,169		85,997
Health Care Equipment & Services - 0.0%
Health Care Facilities - 0.0%
Chartwell Retirement Residences		4,990		55,936
Consumer Services - 0.0%
Leisure Facilities - 0.0%
Planet Fitness, Inc. (a)		575		39,514
Consumer Durables & Apparel - 0.0%
Homebuilding - 0.0%
Lennar Corp.-Class A		802		39,370
Banks - 0.0%
Diversified Banks - 0.0%
Banco Comercial Portugues SA (a)		136,570		35,307
Total Common Stocks (cost $82,977,985)				101,466,855
INVESTMENT COMPANIES - 26.3%
Funds and Investment Trusts - 26.3% (c)(d)
AB Discovery Growth Fund, Inc.-Class Z		298,664		3,389,839
AB Discovery Value Fund, Inc.-Class Z		170,241		3,255,003
Bernstein Fund, Inc.-International Small Cap Portfolio-Class Z		811,956		8,533,657
Bernstein Fund, Inc.-International Strategic Equities Portfolio-Class Z		2,527,268		29,265,768
Bernstein Fund, Inc.-Small Cap Core Portfolio-Class Z		294,818		3,178,137
Sanford C. Bernstein Fund, Inc.-Emerging Markets Portfolio-Class Z		157,507		4,244,818
Sanford C. Bernstein Fund, Inc.-International Portfolio-Class Z		1,054,601		16,409,598
Total Investment Companies (cost $75,920,203)				68,276,820

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADE - 8.5%
Financial Institutions - 4.3%
Banking - 3.4%
AIB Group PLC
4.75%, 10/12/23 (b)	U.S.$	240	$	247,279
Banco Santander SA
3.25%, 4/04/26 (b)	EUR	200		242,861
3.50%, 4/11/22	U.S.$	200		201,842
Bank of America Corp.
2.375%, 6/19/24 (b)	EUR	176		215,888
Series Z
6.50%, 10/23/24 (e)	U.S.$	77		83,450
Bank of Ireland Group PLC
4.50%, 11/25/23 (b)		335		341,104
Barclays Bank PLC
6.625%, 3/30/22 (b)	EUR	50		64,765
6.86%, 6/15/32 (b)(e)	U.S.$	44		45,676
Barclays PLC
4.338%, 5/16/24		275		277,772
BNP Paribas SA
4.705%, 1/10/25 (b)		205		213,182
CaixaBank SA
1.125%, 1/12/23-5/17/24 (b)	EUR	300		338,473
Capital One Financial Corp.
3.30%, 10/30/24	U.S.$	265		262,218
Citigroup, Inc.
0.75%, 10/26/23 (b)	EUR	108		122,728
3.875%, 3/26/25	U.S.$	235		236,767
Compass Bank
2.875%, 6/29/22		265		262,101
5.50%, 4/01/20		314		321,404
Cooperatieve Rabobank UA
4.375%, 8/04/25		320		330,989
Credit Agricole SA/London
3.375%, 1/10/22 (b)		260		261,245
Credit Suisse Group AG
2.125%, 9/12/25 (b)	GBP	170		216,253
Credit Suisse Group Funding Guernsey Ltd.
3.80%, 6/09/23	U.S.$	385		390,867
Danske Bank A/S
5.375%, 1/12/24 (b)		200		207,736
Goldman Sachs Group, Inc. (The)
2.00%, 7/27/23 (b)	EUR	185		218,792
3.75%, 5/22/25	U.S.$	186		187,769
HSBC Holdings PLC
1.50%, 3/15/22 (b)	EUR	160		186,076
4.292%, 9/12/26	U.S.$	338		348,106
4.75%, 7/04/29 (b)(e)	EUR	240		264,172
JPMorgan Chase & Co.
3.22%, 3/01/25	U.S.$	265		264,814
Lloyds Banking Group PLC
1.00%, 11/09/23 (b)	EUR	210		235,876
4.582%, 12/10/25	U.S.$	200		202,212

	Principal Amount (000)		U.S. $ Value
Morgan Stanley
5.00%, 11/24/25	U.S.$	175	$	187,304
Series G
1.375%, 10/27/26	EUR	342		391,519
1.75%, 3/11/24		182		214,785
Nationwide Building Society
4.00%, 9/14/26 (b)	U.S.$	290		279,690
Nordea Bank Abp
3.75%, 8/30/23 (b)		240		241,574
Santander Holdings USA, Inc.
4.40%, 7/13/27		265		263,736
Santander UK PLC
5.00%, 11/07/23 (b)		200		205,390
UBS Group Funding Switzerland AG
7.125%, 8/10/21 (b)(e)		230		238,982
US Bancorp
Series J
5.30%, 4/15/27 (e)		116		117,762
				8,933,159
Finance - 0.1%
Synchrony Financial
4.375%, 3/19/24		23		23,320
4.50%, 7/23/25		192		192,749
				216,069
Insurance - 0.6%
Allianz SE
2.241%, 7/07/45 (b)	EUR	200		232,263
ASR Nederland NV
5.125%, 9/29/45 (b)		210		259,987
Caisse Nationale de Reassurance Mutuelle Agricole Groupama
6.00%, 1/23/27		100		134,048
CNP Assurances
4.25%, 6/05/45 (b)		200		247,907
Credit Agricole Assurances SA
4.75%, 9/27/48 (b)		200		249,064
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
3.25%, 5/26/49 (b)		200		246,437
Voya Financial, Inc.
5.65%, 5/15/53	U.S.$	145		143,469
				1,513,175
REITS - 0.2%
Equinix, Inc.
2.875%, 2/01/26	EUR	115		132,904
Host Hotels & Resorts LP
Series D
3.75%, 10/15/23	U.S.$	10		9,988
Welltower, Inc.
4.00%, 6/01/25		238		244,788
WPC Eurobond BV
2.125%, 4/15/27	EUR	148		166,837
				554,517
				11,216,920

	Principal Amount (000)		U.S. $ Value
Industrial - 3.9%
Basic - 0.3%
DowDuPont, Inc.
4.205%, 11/15/23	U.S.$	185	$	193,430
Eastman Chemical Co.
3.80%, 3/15/25		84		85,888
Glencore Finance Europe Ltd.
1.875%, 9/13/23 (b)	EUR	110		128,144
Series E
1.75%, 3/17/25 (b)		125		143,801
SABIC Capital II BV
4.00%, 10/10/23 (b)	U.S.$	335		342,270
				893,533
Capital Goods - 0.0%
Wabtec Corp.
4.40%, 3/15/24		67		68,150
Communications - Media - 0.2%
CBS Corp.
4.00%, 1/15/26		30		30,419
4.20%, 6/01/29		133		134,161
Charter Communications Operating LLC/Charter Communications Operating Capital
4.908%, 7/23/25		165		174,136
Time Warner Cable LLC
4.125%, 2/15/21		165		167,769
				506,485
Communications - Telecommunications - 0.4%
AT&T, Inc.
2.50%, 3/15/23	EUR	100		120,667
4.125%, 2/17/26	U.S.$	345		352,587
Rogers Communications, Inc.
4.00%, 6/06/22	CAD	46		35,995
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC
4.738%, 3/20/25 (b)	U.S.$	200		202,172
Vodafone Group PLC
3.75%, 1/16/24		78		78,732
4.125%, 5/30/25		171		174,410
				964,563
Consumer Cyclical - Automotive - 0.3%
General Motors Financial Co., Inc.
4.30%, 7/13/25		50		49,788
5.10%, 1/17/24		213		221,767
Volkswagen Bank GmbH
1.25%, 6/10/24 (b)	EUR	200		222,520
Volkswagen International Finance NV
Series 10Y
1.875%, 3/30/27 (b)		100		110,432
Volkswagen Leasing GmbH
2.625%, 1/15/24 (b)		120		143,050
				747,557

	Principal Amount (000)		U.S. $ Value
Consumer Non-Cyclical - 0.9%
Altria Group, Inc.
1.00%, 2/15/23	EUR	270	$	305,232
Becton Dickinson and Co.
3.734%, 12/15/24	U.S.$	66		67,014
Biogen, Inc.
4.05%, 9/15/25		251		258,106
CVS Health Corp.
4.10%, 3/25/25		120		123,174
Medtronic Global Holdings SCA
1.125%, 3/07/27	EUR	230		265,828
Philip Morris International, Inc.
0.625%, 11/08/24		193		216,615
Reynolds American, Inc.
4.45%, 6/12/25	U.S.$	145		149,024
Takeda Pharmaceutical Co., Ltd.
1.125%, 11/21/22 (b)	EUR	285		328,231
4.40%, 11/26/23 (b)	U.S.$	275		288,568
Tyson Foods, Inc.
3.95%, 8/15/24		206		211,683
4.00%, 3/01/26		65		66,463
4.35%, 3/01/29		71		73,410
				2,353,348
Energy - 0.7%
Encana Corp.
3.90%, 11/15/21		140		142,835
Enterprise Products Operating LLC
3.70%, 2/15/26		278		285,072
Hess Corp.
4.30%, 4/01/27		199		197,203
Marathon Petroleum Corp.
5.125%, 3/01/21		163		169,808
Noble Energy, Inc.
3.90%, 11/15/24		170		171,785
4.15%, 12/15/21		78		79,866
Plains All American Pipeline LP/PAA Finance Corp.
3.60%, 11/01/24		232		231,223
Sunoco Logistics Partners Operations LP
4.25%, 4/01/24		240		247,234
TransCanada PipeLines Ltd.
9.875%, 1/01/21		215		239,254
				1,764,280
Other Industrial - 0.1%
Alfa SAB de CV
5.25%, 3/25/24 (b)		200		208,800

	Principal Amount (000)		U.S. $ Value
Services - 0.2%
Expedia Group, Inc.
3.80%, 2/15/28	U.S.$	185	$	178,323
S&P Global, Inc.
4.40%, 2/15/26		226		243,289
Total System Services, Inc.
3.75%, 6/01/23		45		45,915
4.00%, 6/01/23		83		85,322
				552,849
Technology - 0.6%
Broadcom Corp./Broadcom Cayman Finance Ltd.
3.625%, 1/15/24		53		52,867
3.875%, 1/15/27		117		111,783
Broadcom, Inc.
3.625%, 10/15/24		135		133,944
4.25%, 4/15/26		45		44,667
Dell International LLC/EMC Corp.
6.02%, 6/15/26 (b)		96		103,332
Fidelity National Information Services, Inc.
0.40%, 1/15/21	EUR	100		112,607
International Business Machines Corp.
0.375%, 1/31/23		160		180,885
0.875%, 1/31/25		141		161,161
KLA-Tencor Corp.
4.65%, 11/01/24	U.S.$	225		240,345
Motorola Solutions, Inc.
7.50%, 5/15/25		6		6,967
Seagate HDD Cayman
4.75%, 1/01/25		127		123,501
VMware, Inc.
2.95%, 8/21/22		85		84,277
Western Digital Corp.
4.75%, 2/15/26		167		159,731
				1,516,067
Transportation - Services - 0.2%
Adani Ports & Special Economic Zone Ltd.
3.95%, 1/19/22 (b)		200		200,293
Chicago Parking Meters LLC
4.93%, 12/30/25		200		212,208
FedEx Corp.
0.70%, 5/13/22	EUR	123		139,756
				552,257
				10,127,889
Utility - 0.3%
Electric - 0.3%
Abu Dhabi National Energy Co. PJSC
4.375%, 4/23/25 (b)	U.S.$	250		256,779
Adani Transmission Ltd.
4.00%, 8/03/26 (b)		210		194,757
Enel Finance International NV
4.25%, 9/14/23 (b)		240		245,253
				696,789
Total Corporates-Investment Grade (cost $21,843,450)				22,041,598

	Principal Amount (000)		U.S. $ Value
GOVERNMENTS - TREASURIES - 7.0%
Belgium - 0.8%
Kingdom of Belgium Government Bond
Series 87
0.90%, 6/22/29 (b)	EUR	1,500	$	1,765,124
Series 88
1.70%, 6/22/50 (b)		313		372,523
				2,137,647
France - 1.6%
French Republic Government Bond OAT
0.50%, 5/25/25 (b)		1,473		1,720,313
0.75%, 11/25/28 (b)		1,465		1,720,915
1.00%, 5/25/27 (b)		654		788,561
1.75%, 6/25/39 (b)		14		17,266
				4,247,055
Italy - 1.1%
Italy Buoni Poliennali Del Tesoro
1.35%, 4/15/22		775		878,450
2.05%, 8/01/27		624		689,101
2.20%, 6/01/27		335		375,020
3.35%, 3/01/35 (b)		288		334,943
3.85%, 9/01/49 (b)		524		618,004
				2,895,518
Japan - 1.0%
Japan Government Ten Year Bond
Series 342
0.10%, 3/20/26	JPY	99,150		914,009
Japan Government Twenty Year Bond
Series 158
0.50%, 9/20/36		109,750		1,032,440
Series 159
0.60%, 12/20/36		53,750		513,314
				2,459,763
Malaysia - 0.4%
Malaysia Government Bond
Series 0114
4.181%, 7/15/24	MYR	957		239,823
Series 0217
4.059%, 9/30/24		961		239,516
Series 0218
3.757%, 4/20/23		1,742		430,158
Series 0313
3.48%, 3/15/23		800		195,107
				1,104,604

	Principal Amount (000)		U.S. $ Value
Spain - 0.5%
Spain Government Bond
2.35%, 7/30/33 (b)	EUR	335	$	414,556
2.90%, 10/31/46 (b)		144		185,916
4.40%, 10/31/23 (b)		596		799,909
				1,400,381
United Kingdom - 0.3%
United Kingdom Gilt
4.50%, 12/07/42 (b)	GBP	303		627,980
United States - 1.3%
U.S. Treasury Bonds
3.125%, 8/15/44	U.S.$	191		202,400
U.S. Treasury Notes
1.25%, 5/31/19		1,735		1,731,476
1.625%, 2/15/26		435		415,561
2.25%, 2/15/27 (f)		890		882,888
				3,232,325
Total Governments-Treasuries (cost $17,895,102)				18,105,273
MORTGAGE PASS-THROUGHS - 2.8%
Agency Fixed Rate 30-Year - 2.8%
Federal Home Loan Mortgage Corp. Gold
Series 2018
4.00%, 8/01/48-12/01/48		629		652,911
Series 2018
4.50%, 11/01/48		441		466,148
Series 2019
4.50%, 2/01/49		337		357,112
Federal National Mortgage Association
Series 2013
4.00%, 10/01/43		804		839,170
Series 2017
3.50%, 12/01/47-1/01/48		368		373,299
Series 2018
3.50%, 2/01/48-3/01/48		897		910,279
4.00%, 8/01/48-9/01/48		666		690,992
4.50%, 9/01/48		1,202		1,268,475
Series 2019
4.50%, 4/01/49, TBA		611		636,586
5.00%, 4/01/49, TBA		900		951,539
Total Mortgage Pass-Throughs (cost $7,069,614)				7,146,511
INFLATION-LINKED SECURITIES - 2.5%
Japan - 1.7%
Japanese Government CPI Linked Bond
Series 21
0.10%, 3/10/26	JPY	107,345		1,006,422
Series 22
0.10%, 3/10/27		112,122		1,055,160
Series 23
0.10%, 3/10/28		256,732		2,414,552
				4,476,134

	Principal Amount (000)		U.S. $ Value
New Zealand - 0.1%
New Zealand Government Inflation Linked Bond
Series 0925
2.00%, 9/20/25 (b)	NZD	321	$	236,044
United States - 0.7%
U.S. Treasury Inflation Index
0.375%, 7/15/25 (TIPS)	U.S.$	1,666		1,664,789
Total Inflation-Linked Securities (cost $6,356,719)				6,376,967
COLLATERALIZED MORTGAGE OBLIGATIONS - 2.4%
Risk Share Floating Rate - 1.7%
Bellemeade Re Ltd.
Series 2018-2A, Class M1B
3.836% (LIBOR 1 Month + 1.35%), 8/25/28 (b)(g)		240		239,487
Series 2019-1A, Class M1B
4.234% (LIBOR 1 Month + 1.75%), 3/25/29 (b)(g)		220		220,000
Connecticut Avenue Securities Trust
Series 2019-R02, Class 1M2
4.786% (LIBOR 1 Month + 2.30%), 8/25/31 (b)(g)		104		104,764
Eagle RE Ltd.
Series 2018-1, Class M1
4.186% (LIBOR 1 Month + 1.70%), 11/25/28 (b)(g)		162		162,683
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes
Series 2014-DN3, Class M3
6.486% (LIBOR 1 Month + 4.00%), 8/25/24 (g)		254		273,973
Series 2014-DN4, Class M3
7.036% (LIBOR 1 Month + 4.55%), 10/25/24 (g)		179		196,172
Series 2014-HQ3, Class M3
7.236% (LIBOR 1 Month + 4.75%), 10/25/24 (g)		198		217,273
Series 2016-DNA1, Class M3
8.04% (LIBOR 1 Month + 5.55%), 7/25/28 (g)		250		294,087
Federal National Mortgage Association Connecticut Avenue Securities
Series 2014-C03, Class 1M2
5.486% (LIBOR 1 Month + 3.00%), 7/25/24 (g)		81		85,925

	Principal Amount (000)		U.S. $ Value
Series 2014-C04, Class 2M2
7.486% (LIBOR 1 Month + 5.00%), 11/25/24 (g)	U.S.$	46	$	51,121
Series 2015-C01, Class 1M2
6.786% (LIBOR 1 Month + 4.30%), 2/25/25 (g)		94		101,759
Series 2015-C02, Class 1M2
6.486% (LIBOR 1 Month + 4.00%), 5/25/25 (g)		128		137,997
Series 2015-C02, Class 2M2
6.486% (LIBOR 1 Month + 4.00%), 5/25/25 (g)		107		114,016
Series 2015-C03, Class 1M2
7.486% (LIBOR 1 Month + 5.00%), 7/25/25 (g)		62		69,249
Series 2015-C03, Class 2M2
7.486% (LIBOR 1 Month + 5.00%), 7/25/25 (g)		161		176,574
Series 2015-C04, Class 1M2
8.186% (LIBOR 1 Month + 5.70%), 4/25/28 (g)		57		65,340
Series 2015-C04, Class 2M2
8.036% (LIBOR 1 Month + 5.55%), 4/25/28 (g)		235		261,723
Series 2016-C01, Class 1M2
9.236% (LIBOR 1 Month + 6.75%), 8/25/28 (g)		201		232,772
Series 2016-C01, Class 2M2
9.436% (LIBOR 1 Month + 6.95%), 8/25/28 (g)		141		162,205
Series 2016-C03, Class 2M2
8.386% (LIBOR 1 Month + 5.90%), 10/25/28 (g)		284		321,082
Series 2016-C05, Class 2M2
6.936% (LIBOR 1 Month + 4.45%), 1/25/29 (g)		200		218,113
JP Morgan Madison Avenue Securities Trust
Series 2014-CH1, Class M2
6.736% (LIBOR 1 Month + 4.25%), 11/25/24 (g)(h)		27		29,390
PMT Credit Risk Transfer Trust
Series 2019-1R, Class A
4.484% (LIBOR 1 Month + 2.00%), 3/27/24 (b)(g)		150		150,220
Radnor RE Ltd.
Series 2019-1, Class M1B
4.436% (LIBOR 1 Month + 1.95%), 2/25/29 (b)(g)		220		220,808
Wells Fargo Credit Risk Transfer Securities Trust
Series 2015-WF1, Class 1M2
7.736% (LIBOR 1 Month + 5.25%), 11/25/25 (g)(h)		126		142,357
Series 2015-WF1, Class 2M2
7.986% (LIBOR 1 Month + 5.50%), 11/25/25 (g)(h)		40		46,190
				4,295,280

	Principal Amount (000)		U.S. $ Value
Agency Floating Rate - 0.4%
Federal Home Loan Mortgage Corp. REMICs
Series 4416, Class BS
3.616% (6.10% - LIBOR 1 Month), 12/15/44 (g)(i)	U.S.$	617	$	102,359
Series 4693, Class SL
3.666% (6.15% - LIBOR 1 Month), 6/15/47 (g)(i)		575		105,387
Series 4719, Class JS
3.666% (6.15% - LIBOR 1 Month), 9/15/47 (g)(i)		501		78,904
Series 4727, Class SA
3.716% (6.20% - LIBOR 1 Month), 11/15/47 (g)(i)		646		111,204
Federal National Mortgage Association REMICs
Series 2011-131, Class ST
4.055% (6.54% - LIBOR 1 Month), 12/25/41 (g)(i)		297		57,342
Series 2012-70, Class SA
4.065% (6.55% - LIBOR 1 Month), 7/25/42 (g)(i)		533		110,042
Series 2016-106, Class ES
3.515% (6.00% - LIBOR 1 Month), 1/25/47 (g)(i)		590		100,187
Series 2017-16, Class SG
3.565% (6.05% - LIBOR 1 Month), 3/25/47 (g)(i)		586		102,104
Series 2017-81, Class SA
3.715% (6.20% - LIBOR 1 Month), 10/25/47 (g)(i)		594		107,038
Series 2017-97, Class LS
3.715% (6.20% - LIBOR 1 Month), 12/25/47 (g)(i)		463		87,626
Government National Mortgage Association
Series 2017-134, Class SE
3.712% (6.20% - LIBOR 1 Month), 9/20/47 (g)(i)		441		71,112
Series 2017-65, Class ST
3.662% (6.15% - LIBOR 1 Month), 4/20/47 (g)(i)		564		100,462
				1,133,767
Non-Agency Fixed Rate - 0.2%
Alternative Loan Trust
Series 2005-20CB, Class 3A6
5.50%, 7/25/35		25		23,546
Series 2005-57CB, Class 4A3
5.50%, 12/25/35		55		46,750
Series 2006-24CB, Class A16
5.75%, 8/01/36		110		90,206

	Principal Amount (000)		U.S. $ Value
Series 2006-28CB, Class A14
6.25%, 10/25/36	U.S.$	81	$	64,533
Series 2006-J1, Class 1A13
5.50%, 2/25/36		61		54,158
Chase Mortgage Finance Trust
Series 2007-S5, Class 1A17
6.00%, 7/25/37		38		28,464
Citigroup Mortgage Loan Trust, Inc.
Series 2005-2, Class 1A4
4.174%, 5/25/35		10		10,407
Countrywide Home Loan Mortgage Pass-Through Trust
Series 2006-10, Class 1A8
6.00%, 5/25/36		58		45,805
Series 2006-13, Class 1A19
6.25%, 9/25/36		31		23,440
Credit Suisse Mortgage Trust
Series 2010-6R, Class 3A2
5.875%, 1/26/38 (b)		111		85,532
First Horizon Alternative Mortgage Securities Trust
Series 2006-FA3, Class A9
6.00%, 7/25/36		106		83,883
Wells Fargo Mortgage Backed Securities Trust
Series 2007-8, Class 2A5
5.75%, 7/25/37		26		25,528
				582,252
Non-Agency Floating Rate - 0.1%
Deutsche Alt-A Securities Mortgage Loan Trust
Series 2006-AR4, Class A2
2.676% (LIBOR 1 Month + 0.19%), 12/25/36 (g)		256		141,968
HomeBanc Mortgage Trust
Series 2005-1, Class A1
2.736% (LIBOR 1 Month + 0.25%), 3/25/35 (g)		82		71,113
				213,081
Total Collateralized Mortgage Obligations (cost $6,002,870)				6,224,380
CORPORATES - NON-INVESTMENT GRADE - 2.1%
Industrial - 1.3%
Basic - 0.1%
Smurfit Kappa Acquisitions ULC
2.875%, 1/15/26 (b)	EUR	150		175,190
SPCM SA
4.875%, 9/15/25 (b)	U.S.$	200		195,864
				371,054

	Principal Amount (000)		U.S. $ Value
Capital Goods - 0.1%
Colfax Corp.
3.25%, 5/15/25 (b)	EUR	120	$	137,576
Crown European Holdings SA
2.625%, 9/30/24 (b)		100		116,358
TransDigm, Inc.
6.25%, 3/15/26 (b)	U.S.$	110		114,300
				368,234
Communications - Media - 0.0%
CSC Holdings LLC
6.75%, 11/15/21		45		48,092
Communications - Telecommunications - 0.1%
Sprint Capital Corp.
6.90%, 5/01/19		170		170,389
Consumer Cyclical - Automotive - 0.2%
IHO Verwaltungs GmbH
3.25% (3.25% Cash or 4.00% PIK), 9/15/23 (b)(j)	EUR	100		114,263
Panther BF Aggregator 2 LP/Panther Finance Co., Inc.
4.375%, 5/15/26 (b)		120		137,111
Tenneco, Inc.
5.00%, 7/15/24 (b)		100		117,380
Volvo Car AB
2.00%, 1/24/25 (b)		159		176,109
				544,863
Consumer Cyclical - Entertainment - 0.0%
Dometic Group AB
3.00%, 9/13/23 (b)		100		112,661
Consumer Cyclical - Other - 0.1%
International Game Technology PLC
6.25%, 2/15/22 (b)	U.S.$	200		208,220
Consumer Non-Cyclical - 0.1%
HCA, Inc.
5.375%, 9/01/26		70		73,651
Spectrum Brands, Inc.
5.75%, 7/15/25		135		136,520
				210,171
Energy - 0.1%
Nabors Industries, Inc.
5.50%, 1/15/23		121		115,999
PDC Energy, Inc.
5.75%, 5/15/26		137		133,558
SM Energy Co.
6.625%, 1/15/27		53		50,478
Transocean Poseidon Ltd.
6.875%, 2/01/27 (b)		62		64,582
				364,617

	Principal Amount (000)		U.S. $ Value
Other Industrial - 0.1%
Belden, Inc.
3.375%, 7/15/27 (b)	EUR	130	$	146,917
ProGroup AG
3.00%, 3/31/26 (b)		125		143,871
				290,788
Services - 0.1%
Elis SA
2.875%, 2/15/26 (b)		100		115,202
Technology - 0.1%
CommScope Finance LLC
5.50%, 3/01/24 (b)	U.S.$	67		68,607
6.00%, 3/01/26 (b)		88		90,883
				159,490
Transportation - Railroads - 0.1%
Getlink SE
3.625%, 10/01/23 (b)	EUR	150		175,156
Transportation - Services - 0.1%
XPO Logistics, Inc.
6.75%, 8/15/24 (b)	U.S.$	130		132,618
				3,271,555
Financial Institutions - 0.8%
Banking - 0.6%
ABN AMRO Bank NV
5.75%, 9/22/20 (b)(e)	EUR	200		232,483
Allied Irish Banks PLC
7.375%, 12/03/20 (b)(e)		200		238,978
Barclays PLC
8.00%, 6/15/24 (e)	U.S.$	200		204,750
Citigroup, Inc.
5.95%, 1/30/23 (e)		90		91,609
Danske Bank A/S
5.875%, 4/06/22 (b)(e)	EUR	200		228,837
Goldman Sachs Group, Inc. (The)
Series P
5.00%, 11/10/22 (e)	U.S.$	142		131,390
Morgan Stanley
Series J
5.55%, 7/15/20 (e)		95		96,419
Royal Bank of Scotland Group PLC
Series U
4.921% (LIBOR 3 Month + 2.32%), 9/30/27 (e)(g)		200		186,388
Societe Generale SA
6.75%, 4/07/21 (b)(e)	EUR	200		236,128
Standard Chartered PLC	U.S.$	200		159,846
4.261% (LIBOR 3 Month + 1.51%), 1/30/27 (b)(e)(g)				1,806,828

	Principal Amount (000)		U.S. $ Value
Finance - 0.1%
Navient Corp.
6.625%, 7/26/21	U.S.$	170	$	177,830
REITS - 0.1%
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc.
5.75%, 2/01/27 (b)		130		134,238
				2,118,896
Total Corporates-Non-Investment Grade (cost $5,443,339)				5,390,451
COMMERCIAL MORTGAGE-BACKED SECURITIES - 2.0%
Non-Agency Fixed Rate CMBS - 1.2%
CGRBS Commercial Mortgage Trust
Series 2013-VN05, Class A
3.369%, 3/13/35 (b)		495		505,557
Citigroup Commercial Mortgage Trust
Series 2015-GC27, Class XA
1.375%, 2/10/48 (k)		2,383		148,710
Commercial Mortgage Trust
Series 2013-SFS, Class A1
1.873%, 4/12/35 (b)		112		109,493
GS Mortgage Securities Corp. II
Series 2013-KING, Class A
2.706%, 12/10/27 (b)		406		405,453
GS Mortgage Securities Trust
Series 2013-G1, Class A2
3.557%, 4/10/31 (b)		276		278,253
JP Morgan Chase Commercial Mortgage Securities Trust
Series 2006-LDP9, Class AM
5.372%, 5/15/47 (l)		11		11,100
Series 2012-C6, Class E
5.157%, 5/15/45 (b)(l)		119		110,572
JPMBB Commercial Mortgage Securities Trust
Series 2015-C31, Class A3
3.801%, 8/15/48		355		369,331
Series 2015-C32, Class C
4.672%, 11/15/48 (l)		195		200,181
LB-UBS Commercial Mortgage Trust
Series 2006-C6, Class AJ
5.452%, 9/15/39 (l)		48		33,170
LSTAR Commercial Mortgage Trust
Series 2015-3, Class A2
2.729%, 4/20/48 (b)		114		113,433
Series 2016-4, Class A2
2.579%, 3/10/49 (b)		161		157,862

	Principal Amount (000)		U.S. $ Value
Morgan Stanley Capital I Trust
Series 2005-IQ9, Class D
5.00%, 7/15/56 (l)(m)	U.S.$	112	$	104,344
UBS Commercial Mortgage Trust
Series 2018-C9, Class A4
4.117%, 3/15/51		300		319,015
Wells Fargo Commercial Mortgage Trust
Series 2015-SG1, Class C
4.469%, 9/15/48 (l)		197		196,415
				3,062,889
Non-Agency Floating Rate CMBS - 0.8%
Ashford Hospitality Trust
Series 2018-KEYS, Class A
3.484% (LIBOR 1 Month + 1.00%), 5/15/35 (b)(g)		200		199,750
BAMLL Commercial Mortgage Securities Trust
Series 2017-SCH, Class AF
3.484% (LIBOR 1 Month + 1.00%), 11/15/33 (b)(g)(l)		375		373,982
BHMS
Series 2018-ATLS, Class A
3.734% (LIBOR 1 Month + 1.25%), 7/15/35 (b)(g)		195		194,696
BX Trust
Series 2017-IMC, Class A
3.534% (LIBOR 1 Month + 1.05%), 10/15/32 (b)(g)		165		164,480
Series 2018-EXCL, Class A
3.571% (LIBOR 1 Month + 1.09%), 9/15/37 (b)(g)		170		169,575
Cloverleaf Cold Storage Trust
Series 2019-CHL2, Class A
3.56% (LIBOR 1 Month + 1.08%), 3/15/36 (b)(g)		170		170,056
Series 2019-CHL2, Class C
3.98% (LIBOR 1 Month + 1.50%), 3/15/36 (b)(g)(l)		100		100,060
Credit Suisse Mortgage Trust
Series 2016-MFF, Class D
7.084% (LIBOR 1 Month + 4.60%), 11/15/33 (b)(g)(l)		110		109,952
DBWF Mortgage Trust
Series 2018-GLKS, Class A
3.512% (LIBOR 1 Month + 1.03%), 11/19/35 (b)(g)		166		165,726
Invitation Homes Trust
Series 2018-SFR4, Class A
3.582% (LIBOR 1 Month + 1.10%), 1/17/38 (b)(g)		230		231,246
Morgan Stanley Capital I Trust
Series 2015-XLF2, Class SNMA
4.434% (LIBOR 1 Month + 1.95%), 11/15/26 (g)(h)		90		89,687

	Principal Amount (000)		U.S. $ Value
Starwood Retail Property Trust
Series 2014-STAR, Class A
3.704% (LIBOR 1 Month + 1.22%), 11/15/27 (b)(g)	U.S.$	179	$	178,311
				2,147,521
Total Commercial Mortgage-Backed Securities (cost $5,207,972)				5,210,410
EMERGING MARKETS - TREASURIES - 1.8%
Brazil - 1.3%
Brazil Letras do Tesouro Nacional
Series LTN
Zero Coupon, 7/01/19	BRL	8,485		2,131,604
Brazil Notas do Tesouro Nacional
Series NTNF
10.00%, 1/01/23		4,541		1,224,144
				3,355,748
South Africa - 0.5%
Republic of South Africa Government Bond
Series 2048
8.75%, 2/28/48	ZAR	11,087		696,642
Series R186
10.50%, 12/21/26		6,966		533,729
				1,230,371
Total Emerging Markets-Treasuries (cost $4,508,744)				4,586,119
COVERED BONDS - 0.9%
Bank of Montreal
0.75%, 9/21/22 (b)	EUR	315		363,433
Canadian Imperial Bank of Commerce
Zero Coupon, 7/25/22 (b)		325		365,641
Credit Suisse AG/Guernsey
0.75%, 9/17/21 (b)		320		366,954
Danske Bank A/S
0.125%, 2/14/22 (b)		280		316,380
DNB Boligkreditt AS
2.75%, 3/21/22 (b)		300		365,510
Turkiye Vakiflar Bankasi TAO
2.375%, 5/04/21 (b)		140		151,023
UBS AG/London
1.375%, 4/16/21 (b)		140		162,111
4.00%, 4/08/22 (b)		158		199,164
Total Covered Bonds (cost $2,286,566)				2,290,216
ASSET-BACKED SECURITIES - 0.5%
Other ABS - Fixed Rate - 0.3%
CNH Equipment Trust
Series 2015-A, Class A4
1.85%, 4/15/21	U.S.$	96		96,299

	Principal Amount (000)		U.S. $ Value
Consumer Loan Underlying Bond Credit Trust
Series 2017-P1, Class A
2.42%, 9/15/23 (b)(l)	U.S.$	15	$	14,568
Series 2018-P1, Class A
3.39%, 7/15/25 (b)(l)		74		73,691
Marlette Funding Trust
Series 2017-1A, Class A
2.827%, 3/15/24 (b)(l)		2		1,741
Series 2017-2A, Class A
2.39%, 7/15/24 (b)(l)		3		2,730
Series 2017-3A, Class A
2.36%, 12/15/24 (b)(l)		30		30,155
Prosper Marketplace Issuance Trust
Series 2017-2A, Class B
3.48%, 9/15/23 (b)(l)		67		66,758
SBA Tower Trust
Series 2015-1A,Class C
3.156%, 10/08/20 (b)(l)		251		251,012
SoFi Consumer Loan Program LLC
Series 2017-2, Class A
3.28%, 2/25/26 (b)(l)		56		56,180
SoFi Consumer Loan Program Trust
Series 2018-1, Class A1
2.55%, 2/25/27 (b)(l)		84		83,406
				676,540
Autos-Fixed Rate - 0.2%
AmeriCredit Automobile Receivables Trust
Series 2017-3, Class A2A
1.69%, 12/18/20		17		16,771
CPS Auto Receivables Trust
Series 2017-D, Class A
1.87%, 3/15/21 (b)		54		53,609
DT Auto Owner Trust
Series 2018-1A, Class A
2.59%, 5/17/21 (b)		54		53,679
Exeter Automobile Receivables Trust
Series 2016-1A, Class D
8.20%, 2/15/23 (b)		140		146,331
Series 2017-2A, Class A
2.11%, 6/15/21 (b)		8		7,523
Series 2018-1A, Class A
2.21%, 5/17/21 (b)		41		40,686
Series 2018-2A, Class A
2.79%, 7/15/21 (b)		81		80,653
Flagship Credit Auto Trust
Series 2016-4, Class A2
1.96%, 2/16/21 (b)		9		9,068
Series 2016-4, Class D
3.89%, 11/15/22 (b)		100		100,659
Series 2017-2, Class A
1.85%, 7/15/21 (b)		42		41,910
Series 2017-3, Class A
1.88%, 10/15/21 (b)		57		56,350
Series 2017-4, Class A
2.07%, 4/15/22 (b)		55		54,615
				661,854

	Principal Amount (000)		U.S. $ Value
Home Equity Loans - Fixed Rate - 0.0%
Credit-Based Asset Servicing & Securitization LLC
Series 2003-CB1, Class AF
3.95%, 1/25/33 (l)	U.S.$	42	$	42,222
Total Asset-Backed Securities (cost $1,368,339)				1,380,616
COLLATERALIZED LOAN OBLIGATIONS - 0.5%
CLO - Floating Rate - 0.5%
ICG US CLO Ltd.
Series 2015-1A, Class A1R
3.901% (LIBOR 3 Month + 1.14%), 10/19/28 (b)(g)(l)		300		299,554
Octagon Loan Funding Ltd.
Series 2014-1A, Class ARR
3.863% (LIBOR 3 Month + 1.18%), 11/18/31 (b)(g)(l)		320		317,357
TIAA CLO IV Ltd.
Series 2018-1A, Class A1A
4.05% (LIBOR 3 Month + 1.23%), 1/20/32 (b)(g)(l)		250		249,284
Voya CLO Ltd.
Series 2016-3A, Class A1R
3.97% (LIBOR 3 Month + 1.19%), 10/18/31 (b)(g)(l)		500		497,611
Total Collateralized Loan Obligations (cost $1,370,000)				1,363,806
GOVERNMENTS - SOVEREIGN BONDS - 0.4%
Mexico - 0.1%
Mexico Government International Bond
3.60%, 1/30/25		200		199,800
Qatar - 0.1%
Qatar Government International Bond
3.875%, 4/23/23 (b)		250		257,188
Saudi Arabia - 0.2%
Saudi Government International Bond
4.00%, 4/17/25 (b)		251		255,957
4.375%, 4/16/29 (b)		200		208,404
5.25%, 1/16/50 (b)		200		213,470
				677,831
Total Governments-Sovereign Bonds (cost $1,089,705)				1,134,819

	Principal Amount (000)		U.S. $ Value
EMERGING MARKETS - SOVEREIGNS - 0.4%
Dominican Republic - 0.1%
Dominican Republic International Bond
5.95%, 1/25/27 (b)	U.S.$	190	$	199,500
Egypt - 0.1%
Egypt Government International Bond
5.577%, 2/21/23 (b)		200		197,750
Ivory Coast - 0.0%
Ivory Coast Government International Bond
5.125%, 6/15/25 (b)	EUR	125		143,180
Nigeria - 0.1%
Nigeria Government International Bond
6.75%, 1/28/21 (b)	U.S.$	200		205,750
Sri Lanka - 0.1%
Sri Lanka Government International Bond
6.85%, 3/14/24 (b)(n)		200		203,921
Total Emerging Markets-Sovereigns (cost $939,696)				950,101
EMERGING MARKETS - CORPORATE BONDS - 0.2%
Industrial - 0.2%
Consumer Non - Cyclical - 0.1%
Minerva Luxembourg SA
6.50%, 9/20/26 (b)		200		197,737
Energy - 0.0%
Petrobras Global Finance BV
6.25%, 3/17/24		15		16,106
Transportation - Services - 0.1%
Rumo Luxembourg SARL
5.875%, 1/18/25 (b)		200		201,614
				415,457
Utility - 0.0%
Electric - 0.0%
Genneia SA
8.75%, 1/20/22 (b)		76		68,020
Terraform Global Operating LLC
6.125%, 3/01/26 (h)		42		41,058
				109,078
Total Emerging Markets-Corporate Bonds (cost $536,169)				524,535
QUASI-SOVEREIGNS - 0.1%
Quasi-Sovereign Bonds - 0.1%
Indonesia - 0.1%
Perusahaan Listrik Negara PT
5.45%, 5/21/28 (b)		200		213,713

	Principal Amount (000)		U.S. $ Value
Mexico - 0.0%
Petroleos Mexicanos
6.35%, 2/12/48	U.S.$	62	$	54,654
6.50%, 1/23/29		59		58,281
				112,935
Total Quasi-Sovereigns (cost $311,251)				326,648
SHORT-TERM INVESTMENTS - 2.9%
U.S. Treasury Bills - 2.4%
U.S. Treasury Bill
Zero Coupon 4/04/19-4/11/19 (cost $6,112,582)		6,116		6,112,574
	Shares
Investment Companies - 0.5%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.38% (c)(d)(o) (cost $1,209,736)		1,209,736		1,209,736
Total Short-Term Investments (cost $7,322,318)				7,322,310
Total Investments Before Security Lending Collateral for Securities Loaned - 100.4% (cost $248,450,042)				260,118,435
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED - 0.1%
Investment Companies - 0.1%
AB Fixed Income Shares, Inc.-Government Money Market Portfolio-Class AB, 2.38% (c)(d)(o) (cost $209,500)		209,500		209,500
Total Investments - 100.5% (cost $248,659,542) (p)				260,327,935
Other assets less liabilities - (0.5)%				(1,174,930	)
Net Assets - 100.0%			$	259,153,005

FUTURES

Description	Number of Contracts		Expiration Month	Current Notional		Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
10 Yr Canadian Bond Futures		5	June 2019	$	520,223	$	10,207
10 Yr Japan Bond (OSE) Futures		2	June 2019		2,766,038		12,891
10 Yr Mini Japan Government Bond Futures		25	June 2019		3,457,548		15,454

Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation/ (Depreciation)
Euro Buxl 30 Yr Bond Futures		8		June 2019	$	1,719,957	$	86,680
Euro-Schatz Futures		14		June 2019		1,758,512		3,283
Long Gilt Futures		3		June 2019		505,494		8,280
U.S. T-Note 2 Yr (CBT) Futures		71		June 2019		15,129,656		63,150
U.S. Ultra Bond (CBT) Futures		14		June 2019		2,352,000		87,183
Sold Contracts
Euro-BOBL Futures		24		June 2019		3,584,396		(31,256	)
Euro-Bund Futures		2		June 2019		373,184		(7,451	)
Euro-OAT Futures		5		June 2019		912,376		(24,807	)
U.S. T-Note 5 Yr (CBT) Futures		122		June 2019		14,131,031		(148,838	)
U.S. T-Note 10 Yr (CBT) Futures		25		June 2019		3,105,469		(53,630	)
							$	21,146

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
Australia and New Zealand Banking Group Ltd.	AUD	3,232	USD	2,302		4/23/19	$	6,575
Barclays Bank PLC	BRL	3,536	USD	908		4/02/19		5,076
Barclays Bank PLC	USD	945	BRL	3,536		4/02/19		(42,181	)
Barclays Bank PLC	EUR	211	USD	244		4/10/19		6,497
Barclays Bank PLC	USD	451	KRW	504,866		5/16/19		(6,367	)
BNP Paribas SA	USD	650	EUR	572		4/10/19		(7,150	)
BNP Paribas SA	USD	1,074	JPY	118,888		4/11/19		(808	)
BNP Paribas SA	ILS	3,168	USD	867		4/16/19		(5,936	)
BNP Paribas SA	CAD	1,105	USD	829		5/09/19		1,492
BNP Paribas SA	CAD	765	USD	571		5/09/19		(1,875	)
Citibank, NA	BRL	1,708	USD	441		4/02/19		4,576
Citibank, NA	USD	438	BRL	1,708		4/02/19		(2,088	)
Citibank, NA	GBP	450	USD	594		4/09/19		7,584
Citibank, NA	EUR	2,526	USD	2,841		4/10/19		5,842
Citibank, NA	JPY	110,457	USD	1,001		4/11/19		3,406
Citibank, NA	SEK	2,010	USD	218		4/12/19		1,510
Citibank, NA	USD	676	SEK	6,051		4/12/19		(24,991	)
Citibank, NA	BRL	1,716	USD	431		5/03/19		(6,194	)
Citibank, NA	KRW	505,966	USD	445		5/16/19		137
Citibank, NA	USD	883	CNY	5,929		6/12/19		(1,094	)
Citibank, NA	USD	442	INR	31,042		7/16/19		(1,176	)
Credit Suisse International	GBP	415	USD	547		4/09/19		5,652
Credit Suisse International	EUR	872	USD	981		4/10/19		3,088
Credit Suisse International	NOK	1,867	USD	218		4/12/19		1,092
Goldman Sachs Bank USA	BRL	1,611	USD	414		4/02/19		2,793
Goldman Sachs Bank USA	USD	414	BRL	1,611		4/02/19		(2,688	)
Goldman Sachs Bank USA	USD	1,895	EUR	1,662		4/10/19		(29,441	)
Goldman Sachs Bank USA	BRL	1,436	USD	361		5/03/19		(4,787	)
Goldman Sachs Bank USA	BRL	8,485	USD	2,013		7/11/19		(137,539	)
JPMorgan Chase Bank, NA	USD	413	PLN	1,549		4/08/19		(9,579	)
JPMorgan Chase Bank, NA	USD	1,758	EUR	1,539		4/10/19		(31,072	)
JPMorgan Chase Bank, NA	USD	653	NOK	5,566		4/12/19		(7,635	)
JPMorgan Chase Bank, NA	USD	1,858	AUD	2,644		4/23/19		20,067
Morgan Stanley & Co., Inc.	NZD	1,711	USD	1,175		4/26/19		10,028
Morgan Stanley & Co., Inc.	BRL	1,900	USD	491		5/03/19		6,665
Natwest Markets PLC	BRL	217	USD	56		4/02/19		647
Natwest Markets PLC	USD	56	BRL	217		4/02/19		(266	)
Natwest Markets PLC	JPY	781,686	USD	7,084		4/11/19		26,286
Natwest Markets PLC	USD	56	BRL	217		5/03/19		(648	)
Standard Chartered Bank	EUR	1,359	USD	1,550		4/10/19		24,951
Standard Chartered Bank	USD	438	INR	30,983		7/16/19		2,013
State Street Bank & Trust Co.	USD	212	PLN	793		4/08/19		(5,001	)
State Street Bank & Trust Co.	GBP	167	USD	221		4/09/19		4,309

Counterparty	Contracts to Deliver (000)		In Exchange For (000)		Settlement Date		Unrealized Appreciation/ (Depreciation)
State Street Bank & Trust Co.	EUR	430	GBP	379		4/10/19	$	10,827
State Street Bank & Trust Co.	EUR	207	PLN	894		4/10/19		537
State Street Bank & Trust Co.	EUR	20,449	USD	23,555		4/10/19		600,267
State Street Bank & Trust Co.	SEK	3,621	EUR	348		4/10/19		1,294
State Street Bank & Trust Co.	USD	2,034	EUR	1,776		4/10/19		(40,467	)
State Street Bank & Trust Co.	NOK	1,147	USD	134		4/12/19		1,454
State Street Bank & Trust Co.	ZAR	10,163	USD	709		4/17/19		6,110
State Street Bank & Trust Co.	ZAR	7,689	USD	526		4/17/19		(5,492	)
State Street Bank & Trust Co.	USD	222	AUD	312		4/23/19		222
State Street Bank & Trust Co.	USD	470	NZD	690		4/26/19		(63	)
State Street Bank & Trust Co.	CHF	1,069	USD	1,069		6/13/19		(12,585	)
State Street Bank & Trust Co.	MXN	12,941	USD	669		6/13/19		9,956
State Street Bank & Trust Co.	USD	905	MXN	17,308		6/13/19		(23,641	)
State Street Bank & Trust Co.	AUD	28	USD	20		6/17/19		(17	)
State Street Bank & Trust Co.	EUR	117	USD	133		6/17/19		536
State Street Bank & Trust Co.	ILS	137	USD	38		6/17/19		138
State Street Bank & Trust Co.	JPY	6,330	USD	57		6/17/19		(220	)
State Street Bank & Trust Co.	MXN	690	USD	35		6/17/19		(125	)
State Street Bank & Trust Co.	USD	20	AUD	28		6/17/19		(4	)
State Street Bank & Trust Co.	USD	38	CAD	50		6/17/19		(700	)
State Street Bank & Trust Co.	USD	84	CHF	84		6/17/19		990
State Street Bank & Trust Co.	USD	43	EUR	38		6/17/19		(595	)
State Street Bank & Trust Co.	USD	22	GBP	17		6/17/19		42
State Street Bank & Trust Co.	USD	67	GBP	51		6/17/19		(144	)
State Street Bank & Trust Co.	USD	21	SGD	29		6/17/19		53
UBS AG	USD	853	EUR	745		4/10/19		(16,674	)
							$	353,469

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at March 31, 2019			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Buy Contracts
CDX-NAHY Series 31, 5 Year Index, 12/20/23*		(5.00	)%		Quarterly		3.36	%	USD	1,697	$	(121,710	)	$	(112,951	)	$	(8,759	)
CDX-NAHY Series 32, 5 Year Index, 6/20/24*		(5.00	)%		Quarterly		3.49	%	USD	3,529	$	(240,827	)	$	(228,796	)	$	(12,031	)
											$	(362,537	)	$	(341,747	)	$	(20,790	)

* Termination date

CENTRALLY CLEARED INTEREST RATE SWAPS

				Rate Type
Notional Amount             (000)		Termination Date		Payments made by the Fund	Payments received by the Fund	Payment Frequency Paid/ Received	Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation/ (Depreciation)
USD	9,940		9/10/20	3 Month LIBOR	2.824%	Quarterly/Semi-Annual	$	47,159		$	– 0	–	$	47,159
SEK	31,055		4/02/21	3 Month STIBOR	0.098%	Quarterly/Annual		(1,091	)		–0	–		(1,091	)
SEK	31,055		4/02/21	3 Month STIBOR	0.098%	Quarterly/Annual		(1,091	)		– 0	–		(1,091	)
EUR	2,967		4/02/21	-0.198%	6 Month EURIBOR	Annual/Semi-Annual		(138	)		– 0	–		(138	)
EUR	2,953		4/02/21	-0.198%	6 Month EURIBOR	Annual/Semi-Annual		(137	)		– 0	–		(137	)
USD	4,130		9/10/23	3 Month LIBOR	2.883%	Quarterly/Semi-Annual		104,072			– 0	–		104,072
EUR	3,150		1/15/24	6 Month EURIBOR	0.201%	Semi-Annual/Annual		38,733			– 0	–		38,733
USD	295		11/08/26	1.657%	3 Month LIBOR	Semi-Annual/Quarterly		13,484			– 0	–		13,484
USD	1,870		9/10/48	2.980%	3 Month LIBOR	Semi-Annual/Quarterly		(158,759	)		– 0	–		(158,759	)
							$	42,232		$	– 0	–	$	42,232

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at March 31, 2019			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Buy Contracts
Citibank, NA
Sprint Communications, Inc., 7.000%, 8/15/20, 6/20/19*		(5.00	)%		Quarterly		0.48	%	USD	198	$	(2,321	)	$	(553	)	$	(1,768	)
Sprint Communications, Inc., 7.000%, 8/15/20, 6/20/19*		(5.00	)		Quarterly		0.48		USD	172		(2,016	)		(463	)		(1,553	)

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at March 31, 2019			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Sale Contracts
Citigroup GlobalMarkets, Inc.
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00	%	Monthly		7.43	%	USD	55	$	(6,957	)	$	(7,593	)	$	636
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	69		(8,723	)		(10,771	)		2,048
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	11		(1,391	)		(1,802	)		411
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	60		(7,590	)		(8,091	)		501
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	70		(8,849	)		(10,608	)		1,759
CDX-CMBX.NA.A Series 6, 5/11/63*		2.00		Monthly		2.75		USD	450		(9,725	)		(9,006	)		(719	)
Credit Suisse International
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	75		(9,482	)		(11,314	)		1,832
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	165		(20,873	)		(10,854	)		(10,019	)
Deutsche Bank AG
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	8		(1,012	)		(954	)		(58	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	48		(6,072	)		(6,150	)		78
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	79		(9,993	)		(8,654	)		(1,339	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	9		(1,138	)		(525	)		(613	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	53		(6,704	)		(6,164	)		(540	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00		Monthly		7.43		USD	52		(6,578	)		(6,046	)		(532	)

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at March 31, 2019			Notional Amount (000)		Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation/ (Depreciation)
Goldman Sachs International
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00	%		Monthly		7.43	%	USD	64	$	(8,096	)	$	(4,314	)	$	(3,782	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	53		(6,705	)		(5,742	)		(963	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	75		(9,481	)		(11,723	)		2,242
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	58		(7,332	)		(9,639	)		2,307
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	82		(10,366	)		(13,824	)		3,458
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	47		(5,946	)		(4,130	)		(1,816	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	4		(506	)		(364	)		(142	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	78		(9,867	)		(10,794	)		927
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	5		(632	)		(772	)		140
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	8		(1,012	)		(743	)		(269	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	8		(1,012	)		(803	)		(209	)
CDX-CMBX.NA.BBB- Series 6, 5/11/63*		3.00			Monthly		7.43		USD	15		(1,898	)		(1,647	)		(251	)
											$	(172,277	)	$	(164,043	)	$	(8,234	)

* Termination date

INFLATION (CPI) SWAPS

Rate Type

Swap Counterparty

Notional Amount (000)

Termination Date

Payments made by the Fund

Payments received by the Fund

Payment Frequency Paid/Received

Unrealized Appreciation/ (Depreciation)

Bank of America, NA

USD

10,000

7/11/24

2.416

%

CPI

#

Maturity

$

(228,057

)

# Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).

(a) Non-income producing security.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. At March 31, 2019, the aggregate market value of these securities amounted to $34,681,644 or 13.4% of net assets.

(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. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(d) Affiliated investments.

(e) Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

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

(g) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at March 31, 2019.

(h) Security is exempt from registration under Rule 144A of the Securities Act of 1933. These securities, which represent 0.13% of net assets as of March 31, 2019, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date		Cost		Market Value		Percentage of Net Assets
JP Morgan Madison Avenue Securities Trust Series 2014-CH1, Class M2
6.736%, 11/25/24		11/06/15	$	26,798	$	29,390		0.01	%
Morgan Stanley Capital I Trust Series 2015-XLF2, Class SNMA
4.434%, 11/15/26		11/16/15		89,609		89,687		0.03	%
Terraform Global Operating LLC
6.125%, 3/01/26		2/08/18		42,000		41,058		0.02	%
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 1M2
7.736%, 11/25/25		9/28/15		126,438		142,357		0.05	%
Wells Fargo Credit Risk Transfer Securities Trust Series 2015-WF1, Class 2M2
7.986%, 11/25/25		9/28/15		39,892		46,190		0.02	%

(i) Inverse interest only security.

(j) Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at March 31, 2019.

(k) IO - Interest Only.

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

(m) Illiquid security.

(n) Represents entire or partial securities out on loan.

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

(p) 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 $23,169,920 and gross unrealized depreciation of investments was $(11,341,761), resulting in net unrealized appreciation of $11,828,159.

Currency Abbreviations:

AUD	-	Australian Dollar
BRL	-	Brazilian Real
CAD	-	Canadian Dollar
CHF	-	Swiss Franc
CNY	-	Chinese Yuan Renminbi
EUR	-	Euro

GBP	-	Great British Pound
ILS	-	Israeli Shekel
INR	-	Indian Rupee
JPY	-	Japanese Yen
KRW	-	South Korean Won
MXN	-	Mexican Peso
MYR	-	Malaysian Ringgit
NOK	-	Norwegian Krone
NZD	-	New Zealand Dollar
PLN	-	Polish Zloty
SEK	-	Swedish Krona
SGD	-	Singapore Dollar
USD	-	United States Dollar
ZAR	-	South African Rand
Glossary:
ABS	-	Asset-Backed Securities
ADR	-	American Depositary Receipt
BOBL	-	Bundesobligationen
CBT	-	Chicago Board of Trade
CDX-CMBX.NA	-	North American Commercial Mortgage-Backed Index
CDX-NAHY	-	North American High Yield Credit Default Swap Index
CMBS	-	Commercial Mortgage-Backed Securities
CPI	-	Consumer Price Index
EURIBOR	-	Euro Interbank Offered Rate
GDR	-	Global Depositary Receipt
LIBOR	-	London Interbank Offered Rates
OAT	-	Obligations Assimilables du Trésor
OSE	-	Osaka Securities Exchange
PJSC	-	Public Joint Stock Company
REIT	-	Real Estate Investment Trust
REMICs	-	Real Estate Mortgage Investment Conduits
STIBOR	-	Stockholm Interbank Offered Rate
TBA	-	To Be Announced
TIPS	-	Treasury Inflation Protected Security

COUNTRY BREAKDOWN 1

March 31, 2019 (unaudited)

74.8%	United States
3.6%	Japan
2.9%	United Kingdom
2.7%	France
1.6%	Brazil
1.2%	Italy
1.0%	Spain
1.0%	Canada
0.9%	Belgium
0.8%	Switzerland
0.7%	Germany
0.5%	South Africa
5.5%	Other
2.8%	Short-Term
100.0%	Total Investments

1 All data are as of March 31, 2019. The Portfolio’s country breakdown is expressed as a percentage of total investments and may vary over time. “Other” country weightings represent 0.4% or less in the following countries: Argentina, Australia, Austria, Cayman Islands, Chile, China, Denmark, Dominican Republic, Egypt, Finland, Greece, Hong Kong, India, Indonesia, Ireland, Israel, Ivory Coast, Luxembourg, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Portugal, Qatar, Russia, Saudi Arabia, Singapore, South Korea, Sri Lanka, Sweden, Turkey and United Arab Emirates.

AB Variable Products Series Fund, Inc.

AB Balanced Wealth Strategy Portfolio

March 31, 2019 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

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.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The following table summarizes the valuation of the Portfolio’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

$

19,017,699

$

67,974

$

– 0

–

$

19,085,673

Financials

11,758,320

359,756

– 0

–

12,118,076

Real Estate

8,549,783

3,091,541

– 0

–

11,641,324

Health Care

10,497,429

505,484

– 0

–

11,002,913

Consumer Discretionary

9,947,826

407,656

– 0

–

10,355,482

Energy

6,694,382

2,982,872

– 0

–

9,677,254

Communication Services

9,057,499

269,404

– 0

–

9,326,903

Consumer Staples

6,515,751

368,422

– 0

–

6,884,173

Industrials

5,277,074

529,967

– 0

–

5,807,041

Materials

1,697,947

1,373,173

– 0

–

3,071,120

Utilities

2,119,242

121,530

– 0

–

2,240,772

Transportation

– 0

–

85,997

– 0

–

85,997

Health Care Equipment & Services

55,936

– 0

–

– 0

–

55,936

Consumer Services

39,514

– 0

–

– 0

–

39,514

Consumer Durables & Apparel

39,370

– 0

–

– 0

–

39,370

Banks

– 0

–

35,307

– 0

–

35,307

Investment Companies

68,276,820

– 0

–

– 0

–

68,276,820

Corporates - Investment Grade

– 0

–

22,041,598

– 0

–

22,041,598

Governments - Treasuries

– 0

–

18,105,273

– 0

–

18,105,273

Mortgage Pass-Throughs

– 0

–

7,146,511

– 0

–

7,146,511

Inflation-Linked Securities

– 0

–

6,376,967

– 0

–

6,376,967

Collateralized Mortgage Obligations

– 0

–

6,224,380

– 0

–

6,224,380

Corporates - Non-Investment Grade

– 0

–

5,390,451

– 0

–

5,390,451

Commercial Mortgage-Backed Securities

– 0

–

3,970,634

1,239,776

5,210,410

Emerging Markets - Treasuries

– 0

–

4,586,119

– 0

–

4,586,119

Covered Bonds

– 0

–

2,290,216

– 0

–

2,290,216

Asset-Backed Securities

– 0

–

758,153

622,463

1,380,616

Collateralized Loan Obligations

– 0

–

– 0

–

1,363,806

1,363,806

Governments - Sovereign Bonds

– 0

–

1,134,819

– 0

–

1,134,819

Emerging Markets - Sovereigns

– 0

–

950,101

– 0

–

950,101

Emerging Markets - Corporate Bonds

– 0

–

524,535

– 0

–

524,535

Quasi-Sovereigns

– 0

–

326,648

– 0

–

326,648

Short-Term Investments:

U.S. Treasury Bills

– 0

–

6,112,574

– 0

–

6,112,574

Investment Companies

1,209,736

– 0

–

– 0

–

1,209,736

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

209,500

– 0

–

– 0

–

209,500

Total Investments in Securities

160,963,828

96,138,062

3,226,045

260,327,935

Other Financial Instruments (a):

Assets:

Futures

287,128

– 0

–

– 0

–

287,128

Forward Currency Exchange Contracts

– 0

–

782,712

– 0

–

782,712

Centrally Cleared Interest Rate Swaps

– 0

–

203,448

– 0

–

203,448

Liabilities:

Futures

(265,982

)

– 0

–

– 0

–

(265,982

)

Forward Currency Exchange Contracts

– 0

–

(429,243

)

– 0

–

(429,243

)

Centrally Cleared Credit Default Swaps

– 0

–

(362,537

)

– 0

–

(362,537

)

Centrally Cleared Interest Rate Swaps

– 0

–

(161,216

)

– 0

–

(161,216

)

Credit Default Swaps

– 0

–

(172,277

)

– 0

–

(172,277

)

Inflation (CPI) Swaps

– 0

–

(228,057

)

– 0

–

(228,057

)

Total

$

160,984,974

$

95,770,892

$

3,226,045

$

259,981,911

(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.

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value.

	Commercial Mortgage Backed Securities			Asset-Backed Securities			Collateralized Loan Obligations
Balance as of 12/31/18	$	1,312,564		$	798,453		$	1,355,132
Accrued discounts/(premiums)		209			95			– 0	–
Realized gain (loss)		(341	)		270			– 0	–
Change in unrealized appreciation/depreciation		20,190			3,765			8,674
Purchases/Payups		100,000			– 0	–		– 0	–
Sales/Paydowns		(28,989	)		(180,120	)		– 0	–
Transfers in to Level 3		– 0	–		– 0	–		– 0	–
Transfers out of Level 3		(163,857	)		– 0	–		– 0	–
Balance as of 3/31/19	$	1,239,776		$	622,463		$	1,363,806
Net change in unrealized appreciation/depreciation from investments held as of 3/31/19	$	20,190		$	3,765		$	8,674
	Total
Balance as of 12/31/18	$	3,466,149
Accrued discounts/(premiums)		304
Realized gain (loss)		(71	)
Change in unrealized appreciation/depreciation		32,629
Purchases/Payups		100,000
Sales/Paydowns		(209,109	)
Transfers in to Level 3		– 0	–
Transfers out of Level 3		(163,857	) (a)
Balance as of 3/31/19	$	3,226,045
Net change in unrealized appreciation/depreciation from investments held as of 3/31/19	$	32,629

(a) There were de minimis transfers under 1% of net assets during the reporting period.

As of March 31, 2019, all Level 3 securities were priced by third party vendors.

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

Distributions

Affiliated Issuer

Market Value 12/31/18 (000)

Purchases at Cost (000)

Sales Proceeds (000)

Realized Gain (Loss) (000)

Change in Unrealized Appr./(Depr.) (000)

Market Value 3/30/19 (000)

Dividend Income (000)

Realized Gains (000)

AB Discovery Growth Fund, Inc.

$

2,778

$

– 0

–

$

– 0

–

$

– 0

–

$

612

$

3,390

$

– 0

–

$

43

AB Discovery Value Fund, Inc.

2,913

– 0

–

– 0

–

– 0

–

342

3,255

– 0

–

6

Bernstein Fund, Inc. - International Small Cap Portfolio

7,779

– 0

–

– 0

–

– 0

–

755

8,534

– 0

–

– 0

–

Bernstein Fund, Inc. - International Strategic Equities Portfolio

27,140

– 0

–

497

– 0

–

2,623

29,266

– 0

–

– 0

–

Bernstein Fund, Inc. - Small Cap Core Portfolio

2,801

– 0

–

– 0

–

– 0

–

377

3,178

– 0

–

16

Government Money Market Portfolio

241

18,212

17,243

– 0

–

– 0

–

1,210

9

– 0

–

Government Money Market Portfolio*

155

1,299

1,244

– 0

–

– 0

–

210

1

– 0

–

Sanford C Bernstein Fund, Inc. - Emerging Markets Portfolio

3,686

– 0

–

– 0

–

– 0

–

559

4,245

– 0

–

– 0

–

Sanford C Bernstein Fund, Inc. - International Portfolio

14,880

– 0

–

– 0

–

– 0

–

1,530

16,410

– 0

–

– 0

–

Total

$

62,373

$

19,511

$

18,984

$

– 0

–

$

6,798

$

69,697

$

10

$

65

* Investments of cash collateral for securities lending transactions