AB Variable Products Series Fund, Inc.

Dynamic Asset Allocation Portfolio

Portfolio of Investments

March 31, 2021 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 54.1%
Information Technology – 9.8%
Communications Equipment – 0.3%
Arista Networks, Inc.(a)		235	$	70,944
Cisco Systems, Inc./Delaware		18,790		971,631
F5 Networks, Inc.(a)		280		58,414
Juniper Networks, Inc.		1,460		36,982
Motorola Solutions, Inc.		725		136,336
Nokia Oyj(a)		65,083		259,918
Telefonaktiebolaget LM Ericsson - Class B		24,588		325,920
				1,860,145
Electronic Equipment, Instruments & Components – 0.7%
Amphenol Corp. - Class A		2,620		172,841
Azbil Corp.		1,100		47,426
CDW Corp./DE		632		104,754
Corning, Inc.		3,365		146,411
FLIR Systems, Inc.		560		31,623
Halma PLC		3,559		116,439
Hamamatsu Photonics KK		1,600		94,791
Hexagon AB - Class B		3,240		299,079
Hirose Electric Co., Ltd.		280		43,164
Hitachi Ltd.		8,595		389,597
Ibiden Co., Ltd.		940		43,430
IPG Photonics Corp.(a)		173		36,493
Keyence Corp.		1,617		736,957
Keysight Technologies, Inc.(a)		828		118,735
Kyocera Corp.		2,852		181,472
Murata Manufacturing Co., Ltd.		5,099		410,446
Omron Corp.		1,637		128,230
Shimadzu Corp.		2,556		92,682
TDK Corp.		1,152		160,367
TE Connectivity Ltd.		1,460		188,501
Trimble, Inc.(a)		1,115		86,736
Venture Corp., Ltd.		3,169		47,321
Yaskawa Electric Corp.		2,723		136,047
Yokogawa Electric Corp.		2,628		48,546
Zebra Technologies Corp. - Class A(a)		262		127,117
				3,989,205
IT Services – 1.9%
Accenture PLC - Class A		2,825		780,406
Adyen NV(a) (b)		167		372,644
Afterpay Ltd.(a)		1,899		148,320
Akamai Technologies, Inc.(a)		705		71,839
Amadeus IT Group SA - Class A(a)		4,486		319,529
Atos SE(a)		940		73,287
Automatic Data Processing, Inc.		1,880		354,324
Bechtle AG		272		51,026
Broadridge Financial Solutions, Inc.		519		79,459
Capgemini SE		1,452		246,879
Cognizant Technology Solutions Corp. - Class A		2,340		182,801
DXC Technology Co.(a)		1,118		34,949
Edenred		2,787		145,520
Fidelity National Information Services, Inc.		2,749		386,537
Fiserv, Inc.(a)		2,438		290,220

1

Company	Shares		U.S. $ Value
FleetCor Technologies, Inc.(a)		361	$	96,975
Fujitsu Ltd.		1,738		252,903
Gartner, Inc.(a)		390		71,194
Global Payments, Inc.		1,327		267,497
GMO Payment Gateway, Inc.		360		47,836
International Business Machines Corp.		3,938		524,778
Jack Henry & Associates, Inc.		347		52,647
Mastercard, Inc. - Class A		3,910		1,392,155
NEC Corp.		2,849		168,221
Nomura Research Institute Ltd.		3,684		114,454
NTT Data Corp.		7,265		112,672
Obic Co., Ltd.		803		147,344
Otsuka Corp.		1,200		56,267
Paychex, Inc.		1,395		136,738
PayPal Holdings, Inc.(a)		5,235		1,271,267
TIS, Inc.		1,980		47,403
VeriSign, Inc.(a)		425		84,473
Visa, Inc. - Class A(c)		7,550		1,598,561
Western Union Co. (The) - Class W		1,790		44,141
Wix.com Ltd.(a)		543		151,616
Worldline SA/France(a) (b)		2,512		210,297
				10,387,179
Semiconductors & Semiconductor Equipment – 2.4%
Advanced Micro Devices, Inc.(a)		5,353		420,210
Advantest Corp.		1,763		154,848
Analog Devices, Inc.		1,610		249,679
Applied Materials, Inc.		4,025		537,740
ASM International NV		465		134,824
ASM Pacific Technology Ltd.		3,530		45,176
ASML Holding NV		3,780		2,319,292
Broadcom, Inc.		1,809		838,761
Disco Corp.		332		104,913
Enphase Energy, Inc.(a)		563		91,296
Infineon Technologies AG		11,589		493,084
Intel Corp.		18,210		1,165,440
KLA Corp.		710		234,584
Lam Research Corp.		679		404,168
Lasertec Corp.		869		114,761
Maxim Integrated Products, Inc.		1,175		107,360
Microchip Technology, Inc.		1,145		177,727
Micron Technology, Inc.(a)		4,930		434,875
Monolithic Power Systems, Inc.		189		66,757
NVIDIA Corp.		2,765		1,476,316
NXP Semiconductors NV		1,234		248,454
Qorvo, Inc.(a)		518		94,639
QUALCOMM, Inc.		5,014		664,806
Renesas Electronics Corp.(a)		8,127		88,981
Rohm Co., Ltd.		1,013		99,349
Skyworks Solutions, Inc.		724		132,840
STMicroelectronics NV		5,762		220,139
SUMCO Corp.		2,320		53,168
Teradyne, Inc.		700		85,176
Texas Instruments, Inc.		4,095		773,914
Tokyo Electron Ltd.		1,331		578,497
Xilinx, Inc.		1,085		134,431
				12,746,205

2

Company	Shares		U.S. $ Value
Software – 2.7%
Adobe, Inc.(a)		2,130	$	1,012,538
ANSYS, Inc.(a)		412		139,899
Autodesk, Inc.(a)		985		272,993
AVEVA Group PLC		1,315		62,030
Cadence Design Systems, Inc.(a)		1,214		166,306
Check Point Software Technologies Ltd.(a)		1,105		123,727
Citrix Systems, Inc.		530		74,391
CyberArk Software Ltd.(a)		382		49,408
Dassault Systemes SE		1,194		255,204
Fortinet, Inc.(a)		569		104,935
Intuit, Inc.		1,180		452,011
Microsoft Corp.		33,673		7,939,083
Nice Ltd.(a)		604		131,311
NortonLifeLock, Inc.		2,625		55,807
Oracle Corp.		8,432		591,673
Paycom Software, Inc.(a)		234		86,594
Sage Group PLC (The)		10,203		86,197
salesforce.com, Inc.(a)		4,053		858,709
SAP SE		9,261		1,135,923
ServiceNow, Inc.(a)		879		439,597
Synopsys, Inc.(a)		672		166,508
TeamViewer AG(a) (b)		1,420		60,728
Temenos AG		597		86,140
Trend Micro, Inc./Japan		1,600		80,317
Tyler Technologies, Inc.(a)		179		75,991
Xero Ltd.(a)		1,274		123,305
				14,631,325
Technology Hardware, Storage & Peripherals – 1.8%
Apple, Inc.		70,290		8,585,923
Brother Industries Ltd.		1,980		43,977
Canon, Inc.		8,880		201,878
FUJIFILM Holdings Corp.		3,200		190,362
Hewlett Packard Enterprise Co.		5,730		90,190
HP, Inc.		6,070		192,723
Logitech International SA		1,453		152,382
NetApp, Inc.		990		71,943
Ricoh Co., Ltd.		5,940		60,547
Seagate Technology PLC		950		72,913
Seiko Epson Corp.		2,480		40,486
Western Digital Corp.		1,313		87,643
				9,790,967
				53,405,026
Financials – 7.8%
Banks – 3.5%
Australia & New Zealand Banking Group Ltd.		25,201		541,077
Banco Bilbao Vizcaya Argentaria SA		64,818		337,777
Banco Santander SA(a)		168,981		576,361
Bank Leumi Le-Israel BM		16,778		110,518

3

Company	Shares		U.S. $ Value
Bank of America Corp.		33,856	$	1,309,889
Barclays PLC		146,032		373,976
BNP Paribas SA(a)		10,048		612,217
BOC Hong Kong Holdings Ltd.		32,840		114,887
Citigroup, Inc.		9,249		672,865
Citizens Financial Group, Inc.		1,879		82,958
Comerica, Inc.		600		43,044
Commerzbank AG(a)		8,880		54,493
Commonwealth Bank of Australia		15,734		1,032,383
Concordia Financial Group Ltd.		9,120		36,991
Credit Agricole SA(a)		13,282		192,353
Danske Bank A/S		7,538		141,016
DBS Group Holdings Ltd.		17,778		381,185
DNB ASA		10,914		232,718
Erste Group Bank AG(a)		2,832		95,943
Fifth Third Bancorp		3,140		117,593
FinecoBank Banca Fineco SpA(a)		5,400		88,343
First Republic Bank/CA		773		128,898
Hang Seng Bank Ltd.		8,803		170,938
HSBC Holdings PLC		180,692		1,053,194
Huntington Bancshares, Inc./OH		4,495		70,661
ING Groep NV		34,597		422,571
Intesa Sanpaolo SpA(a)		171,325		464,217
Israel Discount Bank Ltd. - Class A		13,191		54,840
Japan Post Bank Co., Ltd.		3,600		34,619
JPMorgan Chase & Co.		13,555		2,063,478
KBC Group NV(a)		2,475		180,084
KeyCorp		4,315		86,214
Lloyds Banking Group PLC(a)		590,731		346,537
M&T Bank Corp.		565		85,660
Mitsubishi UFJ Financial Group, Inc.		108,445		579,887
Mizuho Financial Group, Inc.		21,408		309,568
National Australia Bank Ltd.		29,182		578,168
Natwest Group PLC		37,106		100,402
Nordea Bank Abp		37,296		367,748
Oversea-Chinese Banking Corp., Ltd.		32,006		280,021
People’s United Financial, Inc.		1,875		33,562
PNC Financial Services Group, Inc. (The)		1,880		329,771
Raiffeisen Bank International AG(a)		1,704		37,408
Regions Financial Corp.		4,265		88,115
Resona Holdings, Inc.		24,078		101,140
Shizuoka Bank Ltd. (The)		904		7,107
Skandinaviska Enskilda Banken AB - Class A(a)		14,436		176,097
Societe Generale SA(a)		7,347		192,086
Standard Chartered PLC		25,714		177,055
Sumitomo Mitsui Financial Group, Inc.		11,580		419,743
Sumitomo Mitsui Trust Holdings, Inc.		3,888		135,650
SVB Financial Group(a)		236		116,504
Svenska Handelsbanken AB - Class A		17,909		194,692
Swedbank AB - Class A		8,033		141,637
Truist Financial Corp.		5,998		349,803
UniCredit SpA(a)		24,423		257,976
United Overseas Bank Ltd.		13,541		261,098
US Bancorp		6,105		337,667
Wells Fargo & Co.		18,408		719,201
Westpac Banking Corp.		32,045		594,401
Zions Bancorp NA		730		40,121
				19,237,126

4

Company	Shares		U.S. $ Value
Capital Markets - 1.5%
3i Group PLC		9,527	$	151,408
Ameriprise Financial, Inc.		545		126,685
ASX Ltd.		2,229		120,655
Bank of New York Mellon Corp. (The)		3,615		170,953
BlackRock, Inc. - Class A		633		477,257
Cboe Global Markets, Inc.		446		44,016
Charles Schwab Corp. (The)		6,642		432,926
CME Group, Inc. - Class A		1,600		326,768
Credit Suisse Group AG		21,724		229,826
Daiwa Securities Group, Inc.		16,000		82,880
Deutsche Bank AG(a)		17,421		208,372
Deutsche Boerse AG		1,688		280,493
EQT AB		3,226		106,212
Franklin Resources, Inc.		1,190		35,224
Goldman Sachs Group, Inc. (The)		1,538		502,926
Hargreaves Lansdown PLC		3,794		80,613
Hong Kong Exchanges & Clearing Ltd.		10,692		634,312
Intercontinental Exchange, Inc.		2,500		279,200
Invesco Ltd.		1,630		41,109
Japan Exchange Group, Inc.		5,865		137,772
Julius Baer Group Ltd.		2,348		150,045
London Stock Exchange Group PLC		2,579		246,551
Macquarie Group Ltd.		3,056		356,265
MarketAxess Holdings, Inc.		160		79,667
Moody’s Corp.		745		222,464
Morgan Stanley		6,321		490,889
MSCI, Inc. - Class A		357		149,683
Nasdaq, Inc.		510		75,205
Natixis SA(a)		10,888		52,043
Nomura Holdings, Inc.		27,893		147,790
Northern Trust Corp.		910		95,650
Partners Group Holding AG		156		199,356
Raymond James Financial, Inc.		509		62,383
S&P Global, Inc.		1,100		388,157
SBI Holdings, Inc./Japan		2,482		67,446
Schroders PLC		1,431		69,041
St. James’s Place PLC		3,698		64,923
Standard Life Aberdeen PLC		19,119		76,381
State Street Corp.		1,565		131,476
T. Rowe Price Group, Inc.		975		167,310
UBS Group AG		34,446		532,931
				8,295,263
Consumer Finance – 0.2%
American Express Co.		2,900		410,176
Capital One Financial Corp.		2,003		254,842
Discover Financial Services		1,360		129,186
Isracard Ltd.		0		1
Synchrony Financial		2,378		96,689
				890,894

5

Company	Shares		U.S. $ Value
Diversified Financial Services – 0.7%
Berkshire Hathaway, Inc. - Class B(a)		8,493	$	2,169,707
EXOR NV		1,249		105,344
Groupe Bruxelles Lambert SA		1,185		122,583
IHS Markit Ltd.		1,611		155,913
Industrivarden AB - Class C(a)		1,826		64,081
Investor AB - Class B		5,243		418,338
Kinnevik AB - Class B(a)		2,785		135,357
M&G PLC		27,397		78,291
ORIX Corp.		11,648		197,000
Sofina SA		178		60,179
Wendel SE		309		38,347
				3,545,140
Insurance – 1.9%
Admiral Group PLC		2,197		93,902
Aflac, Inc.		2,890		147,910
Ageas SA/NV		1,401		84,601
AIA Group Ltd.		107,299		1,312,993
Allianz SE		3,656		929,922
Allstate Corp. (The)		1,350		155,115
American International Group, Inc.		3,833		177,123
Aon PLC		1,025		235,863
Arthur J Gallagher & Co.		852		106,304
Assicurazioni Generali SpA(a)		12,649		252,716
Assurant, Inc.		260		36,860
Aviva PLC		33,354		188,006
Baloise Holding AG		420		71,422
Chubb Ltd.		2,012		317,836
Cincinnati Financial Corp.		660		68,039
CNP Assurances(a)		1,975		37,460
Dai-ichi Life Holdings, Inc.		9,576		164,611
Direct Line Insurance Group PLC		15,828		68,326
Everest Re Group Ltd.		194		48,075
Gjensidige Forsikring ASA		358		8,396
Globe Life, Inc.		402		38,845
Hannover Rueck SE		526		96,052
Hartford Financial Services Group, Inc. (The)		1,565		104,526
Insurance Australia Group Ltd.		26,603		94,769
Japan Post Holdings Co., Ltd.(a)		13,970		124,504
Japan Post Insurance Co., Ltd.		2,000		41,085
Legal & General Group PLC		58,066		222,945
Lincoln National Corp.		790		49,193
Loews Corp.		1,040		53,331
Marsh & McLennan Cos., Inc.		2,220		270,396
Medibank Pvt Ltd.		24,440		52,094
MetLife, Inc.		3,390		206,078
MS&AD Insurance Group Holdings, Inc.		3,942		115,958
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen		1,245		383,421
NN Group NV		3,362		164,003
Phoenix Group Holdings PLC		5,766		58,295
Poste Italiane SpA(b)		6,014		76,375
Principal Financial Group, Inc.		1,090		65,356
Progressive Corp. (The)		2,565		245,240
Prudential Financial, Inc.		1,755		159,880
Prudential PLC		23,081		491,683
QBE Insurance Group Ltd.		16,701		122,310
RSA Insurance Group PLC		8,319		78,042
Sampo Oyj - Class A		5,422		244,479
SCOR SE(a)		1,825		62,165

6

Company	Shares		U.S. $ Value
Sompo Holdings, Inc.		3,853	$	147,632
Suncorp Group Ltd.		14,515		109,358
Swiss Life Holding AG		268		131,705
Swiss Re AG		2,787		274,082
T&D Holdings, Inc.		5,646		72,651
Tokio Marine Holdings, Inc.		6,224		296,207
Travelers Cos., Inc. (The)		1,090		163,936
Tryg A/S		3,013		71,013
Unum Group		890		24,769
Willis Towers Watson PLC		587		134,353
WR Berkley Corp.		584		44,004
Zurich Insurance Group AG		1,335		568,244
				10,164,459
				42,132,882
Consumer Discretionary – 6.9%
Auto Components – 0.3%
Aisin Seiki Co., Ltd.		1,440		54,844
Aptiv PLC(a)		1,191		164,239
BorgWarner, Inc.		1,070		49,605
Bridgestone Corp.		4,742		192,786
Cie Generale des Etablissements Michelin SCA - Class B		1,534		229,747
Continental AG		947		125,359
Denso Corp.		3,849		256,590
Faurecia SE(a)		1,272		67,685
Koito Manufacturing Co., Ltd.		1,097		73,809
Sumitomo Electric Industries Ltd.		8,682		130,549
Toyoda Gosei Co., Ltd.		748		19,719
Toyota Industries Corp.		1,698		151,732
Valeo SA		2,160		73,283
				1,589,947
Automobiles – 1.4%
Bayerische Motoren Werke AG		2,932		304,273
Daimler AG		7,592		677,584
Ferrari NV		1,451		303,525
Ford Motor Co.(a)		17,370		212,783
General Motors Co.(a)		5,586		320,972
Honda Motor Co., Ltd.		14,461		435,934
Isuzu Motors Ltd.		4,900		52,625
Mazda Motor Corp.(a)		5,040		41,295
Nissan Motor Co., Ltd.(a)		26,300		146,929
Porsche Automobil Holding SE (Preference Shares)		1,360		144,297
Renault SA(a)		1,800		77,835
Stellantis NV		18,179		321,518
Subaru Corp.		7,083		141,565
Suzuki Motor Corp.		3,258		148,400
Tesla, Inc.(a)		3,400		2,270,962
Toyota Motor Corp.		18,815		1,464,183
Volkswagen AG		294		106,659
Volkswagen AG (Preference Shares)		1,637		458,230
Yamaha Motor Co., Ltd.		2,759		67,900
				7,697,469

7

Company	Shares		U.S. $ Value
Distributors – 0.0%
Genuine Parts Co.		610	$	70,510
LKQ Corp.(a)		1,214		51,389
Pool Corp.		181		62,488
				184,387
Hotels, Restaurants & Leisure – 0.9%
Accor SA(a)		1,740		65,556
Aristocrat Leisure Ltd.		4,995		131,047
Caesars Entertainment, Inc.(a)		928		81,154
Carnival Corp.(a)		3,305		87,715
Chipotle Mexican Grill, Inc. - Class A(a)		154		218,806
Compass Group PLC(a)		16,758		338,574
Darden Restaurants, Inc.		570		80,940
Domino’s Pizza, Inc.(c)		173		63,628
Entain PLC(a)		4,835		101,113
Evolution Gaming Group AB(b)		1,464		215,596
Flutter Entertainment PLC(a)		1,614		346,217
Galaxy Entertainment Group Ltd.(a)		24,949		225,547
Genting Singapore Ltd.		69,609		47,692
Hilton Worldwide Holdings, Inc.(a)		1,216		147,039
InterContinental Hotels Group PLC(a)		1,821		125,229
La Francaise des Jeux SAEM(b)		989		44,942
Las Vegas Sands Corp.(a)		1,447		87,920
Marriott International, Inc./MD - Class A(a)		1,171		173,437
McDonald’s Corp.		3,300		739,662
Melco Resorts & Entertainment Ltd. (ADR)(a)		2,114		42,090
MGM Resorts International		1,790		68,002
Norwegian Cruise Line Holdings Ltd.(a) (c)		1,381		38,102
Oriental Land Co., Ltd./Japan		1,783		268,308
Penn National Gaming, Inc.(a) (c)		662		69,404
Royal Caribbean Cruises Ltd.(a)		827		70,799
Sands China Ltd.(a)		27,932		139,998
Sodexo SA(a)		821		78,658
Starbucks Corp.		5,191		567,221
Tabcorp Holdings Ltd.		19,680		70,312
Whitbread PLC(a)		2,096		98,942
Wynn Resorts Ltd.(a)		410		51,402
Yum! Brands, Inc.		1,315		142,257
				5,027,309
Household Durables – 0.5%
Barratt Developments PLC(a)		7,050		72,516
Berkeley Group Holdings PLC		749		45,855
DR Horton, Inc.		1,435		127,887
Electrolux AB - Class B		2,430		67,557
Garmin Ltd.		620		81,747
Leggett & Platt, Inc.		575		26,249
Lennar Corp. - Class A		1,200		121,476
Mohawk Industries, Inc.(a)		250		48,078
Newell Brands, Inc.		1,675		44,857
NVR, Inc.(a)		20		94,219
Panasonic Corp.		19,596		253,757

8

Company	Shares		U.S. $ Value
Persimmon PLC		2,307	$	93,446
PulteGroup, Inc.		1,165		61,093
Rinnai Corp.		416		46,659
Sekisui Chemical Co., Ltd.		4,000		77,021
Sekisui House Ltd.		5,475		117,768
Sony Corp.		11,184		1,183,641
Taylor Wimpey PLC(a)		37,797		93,975
Whirlpool Corp.		300		66,105
				2,723,906
Internet & Direct Marketing Retail – 1.5%
Amazon.com, Inc.(a)		1,923		5,949,916
Booking Holdings, Inc.(a)		207		482,277
Delivery Hero SE(a) (b)		1,134		146,986
eBay, Inc.		2,915		178,514
Etsy, Inc.(a)		539		108,700
Expedia Group, Inc.(a)		582		100,174
HelloFresh SE(a)		1,456		108,483
Just Eat Takeaway.com NV(a) (b)		1,120		103,058
Ocado Group PLC(a)		3,601		100,962
Prosus NV(a)		4,334		482,282
Rakuten, Inc.		9,908		118,369
Zalando SE(a) (b)		1,307		128,070
				8,007,791
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		1,780		127,248
Hasbro, Inc.		550		52,866
Shimano, Inc.		654		156,201
Yamaha Corp.		1,600		87,189
				423,504
Multiline Retail – 0.3%
Dollar General Corp.		1,110		224,908
Dollar Tree, Inc.(a)		1,038		118,810
Next PLC(a)		1,227		132,985
Pan Pacific International Holdings Corp.		4,742		111,932
Ryohin Keikaku Co., Ltd.		2,120		50,321
Target Corp.		2,215		438,725
Wesfarmers Ltd.		10,052		403,674
				1,481,355
Specialty Retail – 0.9%
Advance Auto Parts, Inc.		281		51,561
AutoZone, Inc.(a)		105		147,451
Best Buy Co., Inc.		1,000		114,810
CarMax, Inc.(a)		720		95,515
Fast Retailing Co., Ltd.		515		411,679
Gap, Inc. (The)(a)		905		26,951
H & M Hennes & Mauritz AB - Class B(a)		9,038		203,685
Hikari Tsushin, Inc.		180		36,291
Home Depot, Inc. (The)		4,820		1,471,305
Industria de Diseno Textil SA		10,739		354,816
JD Sports Fashion PLC(a)		5,019		57,055

9

Company	Shares		U.S. $ Value
Kingfisher PLC(a)		18,366	$	80,499
L Brands, Inc.(a)		1,025		63,407
Lowe’s Cos., Inc.		3,260		619,987
Nitori Holdings Co., Ltd.		703		136,174
O’Reilly Automotive, Inc.(a)		340		172,465
Ross Stores, Inc.		1,550		185,860
TJX Cos., Inc. (The)		5,340		353,241
Tractor Supply Co.		515		91,196
Ulta Beauty, Inc.(a)		252		77,911
USS Co., Ltd.		1,940		38,050
Yamada Holdings Co., Ltd.		6,440		34,803
				4,824,712
Textiles, Apparel & Luxury Goods – 1.0%
adidas AG(a)		1,692		528,565
Burberry Group PLC(a)		3,292		86,118
Cie Financiere Richemont SA		4,629		444,492
EssilorLuxottica SA		2,554		416,064
Hanesbrands, Inc.		1,547		30,429
Hermes International		285		315,209
Kering SA		673		464,409
LVMH Moet Hennessy Louis Vuitton SE		2,469		1,649,171
Moncler SpA(a)		1,716		98,273
NIKE, Inc. - Class B		5,600		744,184
Pandora A/S(a)		1,211		129,516
Puma SE(a)		860		84,316
PVH Corp.(a)		295		31,182
Ralph Lauren Corp.(a)		190		23,400
Swatch Group AG (The)		250		71,985
Tapestry, Inc.(a)		1,230		50,688
Under Armour, Inc. - Class A(a)		827		18,326
Under Armour, Inc. - Class C(a)		854		15,765
VF Corp.		1,400		111,888
				5,313,980
				37,274,360
Health Care – 6.8%
Biotechnology – 0.7%
AbbVie, Inc.		7,816		845,848
Alexion Pharmaceuticals, Inc.(a)		980		149,852
Amgen, Inc.		2,578		641,432
Argenx SE(a)		405		111,327
Biogen, Inc.(a)		665		186,034
CSL Ltd.		4,037		815,893
Genmab A/S(a)		763		250,946
Gilead Sciences, Inc.		5,575		360,312
Grifols SA		2,899		75,872
Incyte Corp.(a)		790		64,203
PeptiDream, Inc.(a)		840		38,479
Regeneron Pharmaceuticals, Inc.(a)		502		237,516
Vertex Pharmaceuticals, Inc.(a)		1,167		250,777
				4,028,491

10

Company	Shares		U.S. $ Value
Health Care Equipment & Supplies – 1.6%
Abbott Laboratories		7,876	$	943,860
ABIOMED, Inc.(a)		208		66,296
Alcon, Inc.(a)		4,360		305,965
Align Technology, Inc.(a)		340		184,120
Asahi Intecc Co., Ltd.		1,740		48,029
Baxter International, Inc.		2,240		188,922
Becton Dickinson and Co.		1,288		313,177
BioMerieux		477		60,683
Boston Scientific Corp.(a)		6,360		245,814
Carl Zeiss Meditec AG		360		54,264
Cochlear Ltd.		738		118,711
Coloplast A/S - Class B		1,368		205,675
Cooper Cos., Inc. (The)		211		81,043
Danaher Corp.		2,840		639,227
Demant A/S(a)		1,271		53,802
DENTSPLY SIRONA, Inc.		946		60,364
DexCom, Inc.(a)		459		164,960
DiaSorin SpA		290		46,529
Edwards Lifesciences Corp.(a)		2,770		231,683
Fisher & Paykel Healthcare Corp., Ltd.		6,614		148,501
Hologic, Inc.(a)		1,120		83,306
Hoya Corp.		3,330		391,930
IDEXX Laboratories, Inc.(a)		383		187,406
Intuitive Surgical, Inc.(a)		555		410,112
Koninklijke Philips NV(a)		9,250		527,484
Medtronic PLC		5,979		706,299
Olympus Corp.		10,335		214,388
ResMed, Inc.		666		129,217
Sartorius AG (Preference Shares)		310		154,553
Siemens Healthineers AG(b)		2,811		152,361
Smith & Nephew PLC		8,855		168,112
Sonova Holding AG(a)		635		168,323
STERIS PLC		391		74,478
Straumann Holding AG		108		134,840
Stryker Corp.		1,465		356,845
Sysmex Corp.		1,487		160,512
Teleflex, Inc.		211		87,662
Terumo Corp.		5,732		207,431
Varian Medical Systems, Inc.(a)		395		69,729
West Pharmaceutical Services, Inc.		331		93,269
Zimmer Biomet Holdings, Inc.		925		148,074
				8,787,956
Health Care Providers & Services – 0.8%
AmerisourceBergen Corp. - Class A		635		74,974
Anthem, Inc.		1,110		398,435
Cardinal Health, Inc.		1,265		76,849
Centene Corp.(a)		2,536		162,076
Cigna Corp.		1,611		389,443
CVS Health Corp.		5,789		435,506
DaVita, Inc.(a)		300		32,331
Fresenius Medical Care AG & Co. KGaA		1,873		137,968
Fresenius SE & Co. KGaA		3,712		165,408
HCA Healthcare, Inc.		1,170		220,358
Henry Schein, Inc.(a)		590		40,852

11

Company	Shares		U.S. $ Value
Humana, Inc.		585	$	245,261
Laboratory Corp. of America Holdings(a)		425		108,388
McKesson Corp.		715		139,454
Orpea SA(a)		500		57,899
Quest Diagnostics, Inc.		600		77,004
Ramsay Health Care Ltd.		2,058		105,114
Sonic Healthcare Ltd.		3,588		95,948
UnitedHealth Group, Inc.		4,255		1,583,158
Universal Health Services, Inc. - Class B		350		46,687
				4,593,113
Health Care Technology – 0.1%
Cerner Corp.		1,330		95,600
M3, Inc.		4,320		296,560
				392,160
Life Sciences Tools & Services – 0.5%
Agilent Technologies, Inc.		1,345		171,003
Bio-Rad Laboratories, Inc. - Class A(a)		96		54,832
Eurofins Scientific SE(a)		1,520		145,282
Illumina, Inc.(a)		681		261,545
IQVIA Holdings, Inc.(a)		846		163,396
Lonza Group AG		681		380,883
Mettler-Toledo International, Inc.(a)		120		138,683
PerkinElmer, Inc.		505		64,787
QIAGEN NV(a)		2,703		130,823
Sartorius Stedim Biotech		319		131,284
Thermo Fisher Scientific, Inc.		1,785		814,638
Waters Corp.(a)		295		83,830
				2,540,986
Pharmaceuticals – 3.1%
Astellas Pharma, Inc.		16,511		254,340
AstraZeneca PLC		11,648		1,162,569
Bayer AG		8,989		569,659
Bristol-Myers Squibb Co.		10,015		632,247
Catalent, Inc.(a)		691		72,769
Chugai Pharmaceutical Co., Ltd.		6,693		271,962
Daiichi Sankyo Co., Ltd.		15,105		440,700
Eisai Co., Ltd.		2,233		150,089
Eli Lilly & Co.		3,523		658,167
GlaxoSmithKline PLC		44,510		787,952
H Lundbeck A/S		802		27,385
Hikma Pharmaceuticals PLC		1,674		52,513
Johnson & Johnson		11,695		1,922,073
Kyowa Kirin Co., Ltd.		3,108		93,077
Merck & Co., Inc.		11,235		866,106
Merck KGaA		1,160		198,423
Novartis AG		19,694		1,683,456
Novo Nordisk A/S - Class B		15,285		1,029,959
Ono Pharmaceutical Co., Ltd.		4,257		111,330
Orion Oyj - Class B		1,211		48,521
Otsuka Holdings Co., Ltd.		3,455		146,523
Perrigo Co. PLC		572		23,149
Pfizer, Inc.		24,754		896,837
Recordati Industria Chimica e Farmaceutica SpA		1,204		64,750
Roche Holding AG		6,557		2,129,964

12

Company	Shares		U.S. $ Value
Sanofi		10,098	$	998,532
Santen Pharmaceutical Co., Ltd.		3,200		44,132
Shionogi & Co., Ltd.		2,340		126,325
Takeda Pharmaceutical Co., Ltd.		13,976		509,455
Teva Pharmaceutical Industries Ltd. (Sponsored ADR)(a)		10,795		124,574
UCB SA		1,307		124,249
Viatris, Inc.(a)		5,326		74,404
Vifor Pharma AG		400		54,437
Zoetis, Inc.		2,126		334,803
				16,685,431
				37,028,137
Industrials – 6.5%
Aerospace & Defense – 0.7%
Airbus SE(a)		5,262		596,802
BAE Systems PLC		25,676		178,809
Boeing Co. (The)(a)		2,380		606,234
Elbit Systems Ltd.		166		23,525
General Dynamics Corp.		1,050		190,638
Howmet Aerospace, Inc.(a)		1,716		55,135
Huntington Ingalls Industries, Inc.		179		36,847
L3Harris Technologies, Inc.		957		193,965
Lockheed Martin Corp.		1,110		410,145
MTU Aero Engines AG		612		144,167
Northrop Grumman Corp.		720		233,021
Raytheon Technologies Corp.		6,720		519,254
Rolls-Royce Holdings PLC(a)		70,648		102,595
Safran SA(a)		2,869		390,263
Singapore Technologies Engineering Ltd.		339		982
Teledyne Technologies, Inc.(a)		165		68,252
Textron, Inc.		1,005		56,360
Thales SA		980		97,264
TransDigm Group, Inc.(a)		263		154,623
				4,058,881
Air Freight & Logistics – 0.4%
CH Robinson Worldwide, Inc.		565		53,918
Deutsche Post AG		8,787		482,063
DSV PANALPINA A/S		2,435		477,610
Expeditors International of Washington, Inc.		720		77,537
FedEx Corp.		1,065		302,503
Kuehne & Nagel International AG		622		177,659
SG Holdings Co., Ltd.		3,686		84,628
United Parcel Service, Inc. - Class B		3,165		538,018
Yamato Holdings Co., Ltd.		3,400		93,368
				2,287,304
Airlines – 0.1%
Alaska Air Group, Inc.(a)		543		37,581
American Airlines Group, Inc.(a)		2,682		64,100
Delta Air Lines, Inc.(a)		2,792		134,798
Singapore Airlines Ltd.(a)		14,000		57,815
Southwest Airlines Co.(a)		2,605		159,061

13

Company	Shares		U.S. $ Value
United Airlines Holdings, Inc.(a)		1,272	$	73,191
				526,546
Building Products – 0.4%
AGC, Inc.		2,225		93,394
Allegion PLC		385		48,364
AO Smith Corp.		555		37,524
Assa Abloy AB - Class B		11,538		332,068
Carrier Global Corp.		4,125		174,157
Cie de Saint-Gobain(a)		4,577		270,279
Daikin Industries Ltd.		2,215		447,781
Fortune Brands Home & Security, Inc.		571		54,713
Geberit AG		327		208,118
Johnson Controls International PLC		3,192		190,467
Lixil Corp.		2,795		77,783
Masco Corp.		1,135		67,987
Otis Worldwide Corp.		1,812		124,031
TOTO Ltd.		1,651		101,612
				2,228,278
Commercial Services & Supplies – 0.2%
Brambles Ltd.		12,264		98,930
Cintas Corp.		385		131,404
Copart, Inc.(a)		891		96,771
Dai Nippon Printing Co., Ltd.		2,799		58,711
Rentokil Initial PLC(a)		16,232		108,371
Republic Services, Inc. - Class A		900		89,415
Rollins, Inc.		981		33,766
Secom Co., Ltd.		1,857		156,548
Securitas AB - Class B		3,604		61,296
Toppan Printing Co., Ltd.		2,320		39,332
Waste Management, Inc.		1,715		221,269
				1,095,813
Construction & Engineering – 0.3%
Bouygues SA		2,120		84,916
Eiffage SA(a)		780		77,991
Epiroc AB - Class A		5,840		132,300
Epiroc AB - Class B		4,489		93,513
Ferrovial SA		4,499		117,563
Kajima Corp.		5,172		73,563
Obayashi Corp.		5,760		52,871
Quanta Services, Inc.		615		54,108
Shimizu Corp.		4,900		39,676
Skanska AB - Class B		3,916		98,212
Taisei Corp.		2,197		84,763
Vinci SA		4,671		478,412
				1,387,888
Electrical Equipment – 0.7%
ABB Ltd.		16,348		497,330
AMETEK, Inc.		999		127,602
Eaton Corp. PLC		1,764		243,926
Emerson Electric Co.		2,640		238,181
Fuji Electric Co., Ltd.		1,120		46,862
Generac Holdings, Inc.(a)		280		91,686
Legrand SA		2,405		223,444

14

Company	Shares		U.S. $ Value
Mitsubishi Electric Corp.		16,200	$	247,585
Nidec Corp.		3,966		483,566
Rockwell Automation, Inc.		530		140,683
Schneider Electric SE		4,807		732,275
Siemens Energy AG(a)		3,978		142,796
Vestas Wind Systems A/S		2,290		472,396
				3,688,332
Industrial Conglomerates – 0.7%
3M Co.		2,575		496,151
CK Hutchison Holdings Ltd.		31,073		248,252
DCC PLC		633		54,906
General Electric Co.		39,079		513,107
Honeywell International, Inc.		3,145		682,685
Investment AB Latour - Class B		1,704		44,154
Jardine Matheson Holdings Ltd.		2,530		165,758
Jardine Strategic Holdings Ltd.		2,551		84,288
Keihan Holdings Co., Ltd.		860		35,802
Keppel Corp., Ltd.		16,745		66,341
Melrose Industries PLC(a)		33,483		76,994
Roper Technologies, Inc.		495		199,653
Siemens AG		6,797		1,116,825
Smiths Group PLC		2,400		50,843
Toshiba Corp.		4,452		150,688
				3,986,447
Machinery – 1.4%
Alstom SA(a)		2,630		131,045
Atlas Copco AB - Class A		5,950		362,755
Atlas Copco AB - Class B		3,460		180,326
Caterpillar, Inc.		2,405		557,647
CNH Industrial NV(a)		11,779		182,341
Cummins, Inc.		650		168,421
Daifuku Co., Ltd.		1,166		114,582
Deere & Co.		1,405		525,667
Dover Corp.		635		87,078
FANUC Corp.		1,710		411,096
Fortive Corp.		1,470		103,841
GEA Group AG		1,352		55,453
Hino Motors Ltd.		3,307		28,443
Hoshizaki Corp.		440		39,345
IDEX Corp.		322		67,401
Illinois Tool Works, Inc.		1,265		280,223
Ingersoll Rand, Inc.(a)		1,619		79,671
KION Group AG		831		82,107
Knorr-Bremse AG		640		79,867
Komatsu Ltd.		7,776		240,973
Kone Oyj - Class B		3,971		324,574
Kubota Corp.		9,112		207,863
Kurita Water Industries Ltd.		1,200		51,558
Makita Corp.		2,579		110,773
MINEBEA MITSUMI, Inc.		4,131		106,028
MISUMI Group, Inc.		3,268		95,195
Mitsubishi Heavy Industries Ltd.		3,689		114,867
Miura Co., Ltd.		780		42,204
Nabtesco Corp.		1,000		45,758
NGK Insulators Ltd.		2,280		41,844
PACCAR, Inc.		1,510		140,309

15

Company	Shares		U.S. $ Value
Parker-Hannifin Corp.		595	$	187,681
Pentair PLC		730		45,494
Sandvik AB(a)		12,995		355,568
Schindler Holding AG		365		107,240
Schindler Holding AG (REG)		232		66,567
SMC Corp.		500		291,190
Snap-on, Inc.		220		50,763
Spirax-Sarco Engineering PLC		774		121,609
Stanley Black & Decker, Inc.		715		142,764
Techtronic Industries Co., Ltd.		15,799		270,855
THK Co., Ltd.		1,060		36,777
Trane Technologies PLC		1,075		177,977
Volvo AB - Class B		12,635		319,982
Wartsila Oyj Abp		5,108		53,546
Westinghouse Air Brake Technologies Corp.		765		60,557
Xylem, Inc./NY		785		82,566
				7,430,391
Marine – 0.0%
AP Moller - Maersk A/S - Class A		1		2,176
AP Moller - Maersk A/S - Class B		37		85,896
Nippon Yusen KK		1,761		60,227
				148,299
Professional Services – 0.5%
Adecco Group AG		1,380		93,084
Bureau Veritas SA(a)		2,760		78,540
Equifax, Inc.		555		100,527
Experian PLC		8,147		280,672
Intertek Group PLC		1,627		125,630
Jacobs Engineering Group, Inc.		565		73,037
Leidos Holdings, Inc.		595		57,287
Nielsen Holdings PLC		1,566		39,385
Nihon M&A Center, Inc.		3,442		93,359
Recruit Holdings Co., Ltd.		12,042		591,337
RELX PLC (London)		17,069		428,104
Robert Half International, Inc.		485		37,864
SGS SA		50		142,070
Teleperformance		536		195,423
Verisk Analytics, Inc. - Class A		700		123,683
Wolters Kluwer NV		3,143		272,985
				2,732,987
Road & Rail – 0.5%
Aurizon Holdings Ltd.		22,082		65,621
Central Japan Railway Co.		1,280		191,642
CSX Corp.		3,380		325,900
East Japan Railway Co.		2,681		190,639
Hankyu Hanshin Holdings, Inc.		2,635		84,544
JB Hunt Transport Services, Inc.		353		59,329
Kansas City Southern		420		110,846
Keio Corp.		1,200		80,793
Keisei Electric Railway Co., Ltd.		1,140		37,325
Kintetsu Group Holdings Co., Ltd.		1,975		75,415
MTR Corp., Ltd.		5,081		28,898
Nagoya Railroad Co., Ltd.		1,660		39,548
Nippon Express Co., Ltd.		640		47,739
Norfolk Southern Corp.		1,120		300,742
Odakyu Electric Railway Co., Ltd.		3,393		92,839

16

Company	Shares		U.S. $ Value
Old Dominion Freight Line, Inc.		403	$	96,885
Tobu Railway Co., Ltd.		1,680		45,252
Tokyu Corp.		5,754		76,736
Union Pacific Corp.		2,990		659,026
West Japan Railway Co.		1,872		103,870
				2,713,589
Trading Companies & Distributors – 0.5%
Ashtead Group PLC		4,106		245,110
Brenntag SE		1,621		138,480
Bunzl PLC		2,848		91,157
Fastenal Co.		2,530		127,208
Ferguson PLC		1,875		223,978
ITOCHU Corp.		11,952		388,034
Marubeni Corp.		14,645		122,316
Mitsubishi Corp.		11,873		336,588
Mitsui & Co., Ltd.		14,477		302,140
MonotaRO Co., Ltd.		2,630		71,348
Sumitomo Corp.		10,545		150,916
Toyota Tsusho Corp.		2,502		105,361
United Rentals, Inc.(a)		300		98,793
WW Grainger, Inc.		230		92,214
				2,493,643
Transportation Infrastructure – 0.1%
Aena SME SA(a) (b)		547		88,744
Aeroports de Paris(a)		342		40,800
Atlantia SpA(a)		5,703		106,727
Auckland International Airport Ltd.(a)		13,988		76,803
Getlink SE(a)		5,064		77,629
Japan Airport Terminal Co., Ltd.		584		28,803
Sydney Airport(a)		11,740		55,474
Transurban Group		24,283		246,866
				721,846
				35,500,244
Communication Services – 4.4%
Diversified Telecommunication Services – 1.2%
AT&T, Inc.		31,727		960,376
BT Group PLC(a)		72,054		153,714
Cellnex Telecom SA(b)		3,059		176,346
Charter Communications, Inc. - Class A(a)		643		396,744
Comcast Corp. - Class A		20,302		1,098,541
Deutsche Telekom AG		29,571		595,957
Eurazeo SE(a)		453		34,462
HKT Trust & HKT Ltd. - Class SS		43,580		62,204
Infrastrutture Wireless Italiane SpA(b)		2,762		30,761
Koninklijke KPN NV		41,123		139,491
Lumen Technologies, Inc.		4,362		58,233
Nippon Telegraph & Telephone Corp.		11,420		294,658
Orange SA		18,045		222,061
Proximus SADP		1,581		34,399
Singapore Telecommunications Ltd.		71,734		130,345
Spark New Zealand Ltd.		21,146		66,232
Swisscom AG		299		160,418

17

Company	Shares		U.S. $ Value
Telecom Italia SpA/Milano		96,254	$	52,072
Telefonica SA		50,606		227,518
Telenor ASA		8,302		146,263
Telstra Corp., Ltd.		47,917		124,074
Verizon Communications, Inc.		18,405		1,070,251
				6,235,120
Entertainment – 0.8%
Activision Blizzard, Inc.		3,415		317,595
Bollore SA		10,158		49,021
Capcom Co., Ltd.		1,560		50,748
Electronic Arts, Inc.		1,265		171,243
Konami Holdings Corp.		1,074		64,117
Live Nation Entertainment, Inc.(a) (c)		616		52,144
Netflix, Inc.(a)		1,992		1,039,147
Nexon Co., Ltd.		4,317		140,078
Nintendo Co., Ltd.		984		554,617
Square Enix Holdings Co., Ltd.		820		45,608
Take-Two Interactive Software, Inc.(a)		535		94,535
Toho Co., Ltd./Tokyo		832		33,803
Ubisoft Entertainment SA(a)		881		66,961
Vivendi SE		7,485		245,685
Walt Disney Co. (The)(a)		8,059		1,487,047
				4,412,349
Interactive Media & Services – 1.7%
Adevinta ASA - Class B(a)		6,032		88,878
Alphabet, Inc. - Class A(a)		1,359		2,802,965
Alphabet, Inc. - Class C(a)		1,294		2,676,807
Auto Trader Group PLC(a)		11,120		85,024
Facebook, Inc. - Class A(a)		10,717		3,156,478
REA Group Ltd.		471		50,968
Scout24 AG(b)		961		72,905
SEEK Ltd.(a)		3,727		81,237
Twitter, Inc.(a)		3,536		224,996
Z Holdings Corp.		30,532		152,299
				9,392,557
Media – 0.2%
CyberAgent, Inc.		4,244		76,606
Dentsu Group, Inc.		2,490		80,154
Discovery, Inc. - Class A(a) (c)		685		29,770
Discovery, Inc. - Class C(a)		1,304		48,105
DISH Network Corp. - Class A(a)		1,056		38,227
Fox Corp. - Class A		1,500		54,165
Fox Corp. - Class B		682		23,822
Informa PLC(a)		14,664		113,223
Interpublic Group of Cos., Inc. (The)		1,725		50,370
News Corp. - Class A		1,728		43,943
News Corp. - Class B		517		12,129
Omnicom Group, Inc.		910		67,477
Pearson PLC		7,171		76,464
Publicis Groupe SA		2,491		151,907
SES SA		3,959		31,407
ViacomCBS, Inc. - Class B		2,488		112,209

18

Company	Shares		U.S. $ Value
WPP PLC		10,802	$	137,655
				1,147,633
Wireless Telecommunication Services – 0.5%
KDDI Corp.		14,309		440,870
Softbank Corp.		25,482		331,510
SoftBank Group Corp.		13,901		1,183,498
T-Mobile US, Inc.(a)		2,601		325,880
Tele2 AB - Class B		5,748		77,540
Vodafone Group PLC		237,158		432,475
				2,791,773
				23,979,432
Consumer Staples – 4.3%
Beverages – 0.9%
Anheuser-Busch InBev SA/NV		7,925		498,188
Asahi Group Holdings Ltd.		4,453		188,499
Brown-Forman Corp. - Class B		792		54,624
Budweiser Brewing Co. APAC Ltd.(b)		19,818		59,323
Carlsberg AS - Class B		858		131,582
Coca-Cola Amatil Ltd.		4,489		45,905
Coca-Cola Bottlers Japan Holdings, Inc.		1,300		22,688
Coca-Cola Co. (The)		17,220		907,666
Coca-Cola HBC AG		2,301		73,136
Constellation Brands, Inc. - Class A		770		175,560
Diageo PLC		20,748		852,358
Heineken NV		2,984		306,331
Kirin Holdings Co., Ltd.		7,305		140,169
Molson Coors Beverage Co. - Class B(a)		800		40,920
Monster Beverage Corp.(a)		1,620		147,566
PepsiCo, Inc.		6,125		866,381
Pernod Ricard SA		1,885		352,833
Suntory Beverage & Food Ltd.		1,601		59,702
Treasury Wine Estates Ltd.		6,410		50,524
				4,973,955
Food & Staples Retailing - 0.7%
Aeon Co., Ltd.		5,808		173,486
Carrefour SA		5,660		102,478
Coles Group Ltd.		11,775		143,591
Costco Wholesale Corp.		1,965		692,623
Etablissements Franz Colruyt NV		96		5,723
J Sainsbury PLC		20,378		68,144
Jeronimo Martins SGPS SA		2,897		48,751
Koninklijke Ahold Delhaize NV		9,031		251,900
Kroger Co. (The)		3,420		123,086
Seven & i Holdings Co., Ltd.		6,694		270,313
Sundrug Co., Ltd.		39		1,429
Sysco Corp.		2,225		175,196
Tesco PLC		72,696		229,518
Tsuruha Holdings, Inc.		320		41,292
Walgreens Boots Alliance, Inc.		3,175		174,308
Walmart, Inc.		6,163		837,120
Wm Morrison Supermarkets PLC		27,684		69,627
Woolworths Group Ltd.		11,218		349,376
				3,757,961

19

Company	Shares		U.S. $ Value
Food Products – 1.0%
a2 Milk Co., Ltd. (The)(a)		6,019	$	36,335
Ajinomoto Co., Inc.		5,373		110,140
Archer-Daniels-Midland Co.		2,475		141,075
Associated British Foods PLC(a)		3,365		111,797
Barry Callebaut AG		20		45,282
Campbell Soup Co.		875		43,986
Conagra Brands, Inc.		2,165		81,404
Danone SA		5,549		379,818
General Mills, Inc.		2,705		165,871
Hershey Co. (The)		650		102,804
Hormel Foods Corp.		1,250		59,725
JM Smucker Co. (The)		495		62,632
Kellogg Co.		1,115		70,580
Kerry Group PLC - Class A		1,489		185,960
Kikkoman Corp.		1,724		102,810
Kraft Heinz Co. (The)		2,878		115,120
Lamb Weston Holdings, Inc.		640		49,587
McCormick & Co., Inc./MD		1,100		98,076
MEIJI Holdings Co., Ltd.		1,318		84,755
Mondelez International, Inc. - Class A		6,345		371,373
Mowi ASA		5,059		125,649
Nestle SA		25,563		2,849,671
Nissin Foods Holdings Co., Ltd.		560		41,519
Tyson Foods, Inc. - Class A		1,275		94,732
Yakult Honsha Co., Ltd.		1,419		71,799
Yamazaki Baking Co., Ltd.		1,394		22,523
				5,625,023
Household Products – 0.7%
Church & Dwight Co., Inc.		1,076		93,989
Clorox Co. (The)		570		109,942
Colgate-Palmolive Co.		3,780		297,977
Essity AB - Class B		6,982		220,667
Henkel AG & Co. KGaA		918		90,948
Henkel AG & Co. KGaA (Preference Shares)		1,571		176,633
Kimberly-Clark Corp.		1,505		209,270
Lion Corp.		2,000		38,988
Pigeon Corp.		1,020		38,678
Procter & Gamble Co. (The)		11,020		1,492,439
Reckitt Benckiser Group PLC		6,309		564,720
Unicharm Corp.		3,585		150,536
				3,484,787
Personal Products – 0.6%
Beiersdorf AG		1,161		122,672
Estee Lauder Cos., Inc. (The) - Class A		990		287,942
Kao Corp.		4,269		282,474
Kobayashi Pharmaceutical Co., Ltd.		262		24,471
Kose Corp.		300		42,519
L’Oreal SA		2,239		857,719
Shiseido Co., Ltd.		3,554		239,021
Unilever PLC		23,323		1,301,417
				3,158,235
Tobacco – 0.4%
Altria Group, Inc.		8,240		421,558
British American Tobacco PLC		20,362		773,969
Imperial Brands PLC		9,340		191,479

20

Company	Shares		U.S. $ Value
Japan Tobacco, Inc.		10,653	$	204,648
Philip Morris International, Inc.		6,900		612,306
Swedish Match AB		1,957		152,668
				2,356,628
				23,356,589
Materials – 2.8%
Chemicals – 1.5%
Air Liquide SA		4,236		691,637
Air Products & Chemicals, Inc.		1,000		281,340
Akzo Nobel NV		2,298		256,562
Albemarle Corp.		461		67,357
Arkema SA		794		96,158
Asahi Kasei Corp.		11,121		128,378
BASF SE		8,149		677,206
Celanese Corp. - Class A		508		76,103
CF Industries Holdings, Inc.		950		43,111
Corteva, Inc.		3,306		154,126
Covestro AG(b)		2,001		134,629
Croda International PLC		984		86,096
Dow, Inc.		3,256		208,189
DuPont de Nemours, Inc.		2,392		184,854
Eastman Chemical Co.		580		63,870
Ecolab, Inc.		1,100		235,477
EMS-Chemie Holding AG		80		71,465
Evonik Industries AG		2,375		84,039
FMC Corp.		580		64,154
Givaudan SA		87		335,580
ICL Group Ltd.ICL Group Ltd.		8,106		47,521
International Flavors & Fragrances, Inc.		1,109		154,827
Johnson Matthey PLC		1,188		49,349
JSR Corp.		1,800		54,475
Kansai Paint Co., Ltd.		1,580		42,263
Koninklijke DSM NV		1,984		335,411
LANXESS AG		740		54,615
Linde PLC		2,340		655,528
LyondellBasell Industries NV - Class A		1,099		114,351
Mitsubishi Chemical Holdings Corp.		14,738		110,691
Mitsui Chemicals, Inc.		1,640		51,902
Mosaic Co. (The)		1,510		47,731
Nippon Paint Holdings Co., Ltd.		8,430		121,760
Nissan Chemical Corp.		1,429		76,455
Nitto Denko Corp.		1,408		120,695
Novozymes A/S - Class B		1,608		102,891
PPG Industries, Inc.		1,050		157,773
Sherwin-Williams Co. (The)		375		276,754
Shin-Etsu Chemical Co., Ltd.		3,136		531,239
Sika AG		1,263		361,160
Solvay SA		651		81,021
Sumitomo Chemical Co., Ltd.		14,678		76,153
Symrise AG		1,121		136,013
Toray Industries, Inc.		15,963		103,061
Tosoh Corp.		2,791		53,454
Yara International ASA		2,038		106,169
				7,963,593
Construction Materials – 0.2%
CRH PLC		7,734		361,926
HeidelbergCement AG		1,561		141,829

21

Company	Shares		U.S. $ Value
James Hardie Industries PLC		3,639	$	109,984
LafargeHolcim Ltd.(a)		4,647		273,266
Martin Marietta Materials, Inc.		277		93,022
Vulcan Materials Co.		565		95,344
				1,075,371
Containers & Packaging – 0.1%
AMCOR PLC		6,943		81,094
Avery Dennison Corp.		385		70,705
Ball Corp.		1,410		119,484
International Paper Co.		1,725		93,271
Packaging Corp. of America		425		57,154
Sealed Air Corp.		690		31,616
Smurfit Kappa Group PLC		2,414		113,266
Westrock Co.		1,127		58,660
				625,250
Metals & Mining – 0.9%
Anglo American PLC		10,645		416,941
Antofagasta PLC		2,599		60,539
ArcelorMittal SA(a)		6,520		187,655
BHP Group Ltd.		26,145		906,955
BHP Group PLC		18,730		539,274
BlueScope Steel Ltd.		4,460		65,815
Evolution Mining Ltd.		14,400		44,862
Fortescue Metals Group Ltd.		15,033		229,112
Freeport-McMoRan, Inc.(a)		6,445		212,234
Glencore PLC(a)		88,667		348,142
JFE Holdings, Inc.(a)		5,000		61,690
Newcrest Mining Ltd.		7,040		132,999
Newmont Corp.		3,531		212,813
Nippon Steel Corp.(a)		7,158		122,171
Norsk Hydro ASA		4,345		27,908
Northern Star Resources Ltd.		8,518		61,702
Nucor Corp.		1,310		105,154
Rio Tinto Ltd.		3,293		278,315
Rio Tinto PLC		9,954		759,371
South32 Ltd.		52,892		113,514
Sumitomo Metal Mining Co., Ltd.		2,682		116,225
voestalpine AG		1,337		55,369
				5,058,760
Paper & Forest Products – 0.1%
Mondi PLC		4,582		116,810
Oji Holdings Corp.		7,640		49,538
UPM-Kymmene Oyj		6,144		220,801
				387,149
				15,110,123
Utilities – 1.7%
Electric Utilities – 1.0%
Alliant Energy Corp.		1,088		58,926
American Electric Power Co., Inc.		2,185		185,069
Chubu Electric Power Co., Inc.		7,416		95,559
CLP Holdings Ltd.		18,903		184,053
Duke Energy Corp.		3,242		312,950

22

Company	Shares		U.S. $ Value
Edison International		1,685	$	98,741
EDP - Energias de Portugal SA		31,472		179,758
Electricite de France SA(a)		7,145		95,844
Elia Group SA/NV		356		39,205
Endesa SA		2,965		78,579
Enel SpA		72,165		717,850
Entergy Corp.		875		87,036
Evergy, Inc.		985		58,637
Eversource Energy		1,510		130,751
Exelon Corp.		4,317		188,826
FirstEnergy Corp.		2,375		82,389
Iberdrola SA		54,284		700,639
Kansai Electric Power Co., Inc. (The)		8,006		86,800
Kyushu Electric Power Co., Inc.		642		6,340
Mercury NZ Ltd.		1,085		4,931
NextEra Energy, Inc.		8,690		657,051
NRG Energy, Inc.		1,060		39,994
Orsted AS(b)		1,747		282,080
Pinnacle West Capital Corp.		485		39,455
Power Assets Holdings Ltd.		15,969		94,520
PPL Corp.		3,415		98,489
Red Electrica Corp. SA		4,542		80,566
Southern Co. (The)		4,660		289,666
SSE PLC		9,730		195,096
Terna Rete Elettrica Nazionale SpA		12,480		94,250
Tohoku Electric Power Co., Inc.		4,920		46,522
Tokyo Electric Power Co. Holdings, Inc.(a)		12,840		42,922
Xcel Energy, Inc.		2,330		154,968
				5,508,462
Gas Utilities – 0.2%
APA Group		13,346		101,904
Atmos Energy Corp.		542		53,577
Enagas SA		2,865		62,373
Hong Kong & China Gas Co., Ltd.		122,741		194,617
Naturgy Energy Group SA		2,526		62,020
Osaka Gas Co., Ltd.		4,317		84,245
Snam SpA		15,010		83,214
Toho Gas Co., Ltd.		851		52,514
Tokyo Gas Co., Ltd.		4,329		96,445
				790,909
Independent Power and Renewable Electricity Producers – 0.0%
AES Corp. (The)		2,925		78,419
Meridian Energy Ltd.		14,751		55,609
Uniper SE		1,795		65,020
				199,048
Multi-Utilities – 0.5%
AGL Energy Ltd.		7,355		54,069
Ameren Corp.		1,060		86,242
CenterPoint Energy, Inc.		2,405		54,473
CMS Energy Corp.		1,270		77,749
Consolidated Edison, Inc.		1,490		111,452
Dominion Energy, Inc.		3,620		274,975
DTE Energy Co.		820		109,175
E.ON SE		19,924		232,194
Engie SA(a)		16,505		234,459

23

Company	Shares		U.S. $ Value
National Grid PLC		30,060	$	356,829
NiSource, Inc.		1,705		41,107
Public Service Enterprise Group, Inc.		2,245		135,171
RWE AG		5,603		219,872
Sempra Energy		1,250		165,725
Suez SA		3,260		69,044
United Utilities Group PLC		7,540		96,349
Veolia Environnement SA		6,203		159,135
WEC Energy Group, Inc.		1,368		128,031
				2,606,051
Water Utilities – 0.0%
American Water Works Co., Inc.		821		123,084
Severn Trent PLC		2,739		87,121
				210,205
				9,314,675
Energy – 1.6%
Energy Equipment & Services – 0.1%
Baker Hughes Co. - Class A		3,050		65,911
Halliburton Co.		3,900		83,694
NOV, Inc.(a)		1,725		23,667
Schlumberger NV		6,170		167,762
				341,034
Oil, Gas & Consumable Fuels – 1.5%
APA Corp.		1,665		29,804
BP PLC		179,833		730,473
Cabot Oil & Gas Corp.		1,740		32,677
Chevron Corp.		8,531		893,963
ConocoPhillips		5,981		316,814
Devon Energy Corp.		1,680		36,708
Diamondback Energy, Inc.		678		49,826
ENEOS Holdings, Inc.		27,225		123,516
Eni SpA		22,383		275,808
EOG Resources, Inc.		2,580		187,127
Equinor ASA		8,955		174,799
Exxon Mobil Corp.		18,800		1,049,604
Hess Corp.		1,190		84,204
HollyFrontier Corp.		650		23,257
Idemitsu Kosan Co., Ltd.		1,072		27,674
Inpex Corp.		11,643		79,614
Kinder Morgan, Inc.		8,649		144,006
Lundin Energy AB		2,139		67,276
Marathon Oil Corp.		3,485		37,220
Marathon Petroleum Corp.		2,851		152,500
Neste Oyj		4,921		261,333
Occidental Petroleum Corp.		3,686		98,121
Oil Search Ltd.		17,520		54,778
OMV AG		1,396		70,745
ONEOK, Inc.		1,968		99,699
Origin Energy Ltd.		20,273		72,633
Phillips 66		1,940		158,188
Pioneer Natural Resources Co.		715		113,556
Repsol SA		15,687		194,706
Royal Dutch Shell PLC - Class A		36,385		707,286
Royal Dutch Shell PLC - Class B		32,873		605,108
Santos Ltd.		20,382		110,321

24

Company	Shares		U.S. $ Value
TOTAL SE		22,451	$	1,046,660
Valero Energy Corp.		1,795		128,522
Williams Cos., Inc. (The)		5,378		127,405
Woodside Petroleum Ltd.		8,507		155,490
				8,521,421
				8,862,455
Real Estate – 1.5%
Equity Real Estate Investment Trusts (REITs) – 1.0%
Alexandria Real Estate Equities, Inc.		532		87,408
American Tower Corp.		1,975		472,143
Ascendas Real Estate Investment Trust		36,711		83,393
AvalonBay Communities, Inc.		595		109,783
Boston Properties, Inc.		600		60,756
British Land Co. PLC (The)		9,308		64,758
CapitaLand Integrated Commercial Trust		29,724		48,096
Covivio		553		47,297
Crown Castle International Corp.		1,920		330,490
Daiwa House REIT Investment Corp.		20		53,742
Dexus		12,575		93,503
Digital Realty Trust, Inc.		1,228		172,952
Duke Realty Corp.		1,628		68,262
Equinix, Inc.		430		292,224
Equity Residential		1,480		106,012
Essex Property Trust, Inc.		278		75,572
Extra Space Storage, Inc.		533		70,649
Federal Realty Investment Trust		272		27,594
Gecina SA		528		72,680
GLP J-Reit(a)		41		67,372
Goodman Group		14,742		203,563
GPT Group (The)		22,423		78,660
Healthpeak Properties, Inc.		2,380		75,541
Host Hotels & Resorts, Inc.(a)		3,120		52,572
Iron Mountain, Inc.(c)		1,248		46,188
Japan Metropolitan Fund Invest		60		61,468
Japan Real Estate Investment Corp.		16		94,550
Kimco Realty Corp.		1,910		35,812
Klepierre SA		2,231		51,928
Land Securities Group PLC		6,238		59,315
Link REIT		23,783		216,990
Mapletree Commercial Trust		24,747		39,100
Mapletree Logistics Trust		30,622		44,031
Mid-America Apartment Communities, Inc.		496		71,603
Mirvac Group		45,284		86,384
Nippon Building Fund, Inc.		15		88,392
Nippon Prologis REIT, Inc.		25		80,389
Nomura Real Estate Master Fund, Inc.		49		73,774
Orix JREIT, Inc.		21		36,576
Prologis, Inc.		3,279		347,574
Public Storage		700		172,732
Realty Income Corp.		1,558		98,933
Regency Centers Corp.		683		38,733
SBA Communications Corp.		490		135,999
Scentre Group		40,464		87,123
Segro PLC		11,368		146,910
Simon Property Group, Inc.		1,456		165,649
Stockland		27,447		92,137
UDR, Inc.		1,278		56,053
Ventas, Inc.		1,661		88,598

25

Company	Shares		U.S. $ Value
Vornado Realty Trust		685	$	31,092
Welltower, Inc.		1,835		131,441
Weyerhaeuser Co.		3,298		117,409
				5,611,905
Real Estate Management & Development – 0.5%
Aeon Mall Co., Ltd.		1,178		20,552
Aroundtown SA		8,860		63,100
Azrieli Group Ltd.		489		30,217
CapitaLand Ltd.		29,564		82,836
CBRE Group, Inc. - Class A(a)		1,465		115,896
City Developments Ltd.		5,233		31,124
CK Asset Holdings Ltd.		29,761		181,173
Daito Trust Construction Co., Ltd.		748		86,913
Daiwa House Industry Co., Ltd.		5,019		147,303
Deutsche Wohnen SE		2,994		139,665
Fastighets AB Balder - Class B(a)		121		5,990
Hongkong Land Holdings Ltd.		12,626		62,097
LEG Immobilien SE		795		104,572
Lendlease Corp Ltd.		6,115		60,291
Mitsubishi Estate Co., Ltd.		10,492		183,730
Mitsui Fudosan Co., Ltd.		8,129		185,304
Sino Land Co., Ltd.		36,047		50,306
Sumitomo Realty & Development Co., Ltd.		3,562		126,178
Sun Hung Kai Properties Ltd.		15,000		227,128
Swire Pacific Ltd. - Class A		5,731		43,172
Swire Properties Ltd.		13,468		41,805
Swiss Prime Site AG		875		80,778
Unibail-Rodamco-Westfield(a)		1,593		127,278
Vonovia SE		4,770		311,716
				2,509,124
				8,121,029
Total Common Stocks (cost $164,032,532)				294,084,952
	Principal Amount (000)
GOVERNMENTS - TREASURIES – 35.4%
United States – 35.4%
U.S. Treasury Bonds 1.25%, 05/15/2050	$	730		549,097
1.375%, 08/15/2050		460		357,955
1.625%, 11/15/2050		2,063		1,712,686
2.00%, 02/15/2050		915		834,223
2.25%, 08/15/2046-08/15/2049		7,073		6,840,113
2.375%, 11/15/2049		1,045		1,035,337
2.50%, 02/15/2045-05/15/2046		598		608,587
2.75%, 08/15/2042-08/15/2047		1,177		1,257,511
2.875%, 05/15/2043-05/15/2049		6,862		7,474,098
3.00%, 05/15/2045-02/15/2049		4,154		4,640,597
3.125%, 11/15/2041-02/15/2043		2,825		3,206,731
3.50%, 02/15/2039		23		27,496
3.625%, 08/15/2043		3,658		4,475,334
3.75%, 08/15/2041-11/15/2043		399		496,060

26

	Principal Amount (000)		U.S. $ Value
3.875%, 08/15/2040	$	280	$	352,144
4.25%, 05/15/2039		240		314,550
4.375%, 11/15/2039-05/15/2041		1,258		1,679,889
4.50%, 08/15/2039		317		428,099
4.75%, 02/15/2037-02/15/2041		1,127		1,549,900
5.25%, 11/15/2028		690		877,809
5.375%, 02/15/2031		650		868,156
5.50%, 08/15/2028		1,383		1,775,426
6.00%, 02/15/2026		2,846		3,536,155
6.125%, 11/15/2027		732		956,061
6.25%, 08/15/2023-05/15/2030		804		1,089,111
6.875%, 08/15/2025		849		1,071,067
7.25%, 08/15/2022		775		850,199
7.625%, 02/15/2025		295		374,189
U.S. Treasury Notes 0.125%, 11/30/2022		1,419		1,418,457
0.25%, 06/30/2025-09/30/2025		11,518		11,251,562
0.375%, 04/30/2025-01/31/2026		6,679		6,546,270
0.50%, 03/31/2025-02/28/2026		2,199		2,157,513
0.625%, 05/15/2030-08/15/2030		3,823		3,468,300
0.875%, 11/15/2030		3,725		3,442,318
1.125%, 02/15/2031		864		815,441
1.25%, 08/31/2024		1,994		2,045,096
1.375%, 08/31/2023		1,651		1,696,660
1.50%, 09/30/2024-02/15/2030		9,529		9,786,844
1.625%, 08/15/2022-08/15/2029		13,960		14,301,059
1.75%, 03/31/2022-11/15/2029		15,661		16,070,186
1.875%, 08/31/2022-10/31/2022		4,771		4,893,135
2.00%, 02/15/2022-11/15/2026		21,805		22,782,288
2.125%, 11/30/2023-05/15/2025		13,005		13,698,070
2.25%, 04/30/2024-11/15/2027		8,410		8,914,282
2.375%, 08/15/2024-05/15/2029		4,221		4,490,184
2.50%, 08/15/2023-05/15/2024		5,883		6,243,787
2.625%, 02/15/2029		821		887,450
2.75%, 11/15/2023-02/15/2028		3,400		3,626,892
2.875%, 10/31/2023-05/15/2028		2,273		2,447,761
3.125%, 11/15/2028		1,655		1,849,909
Total Governments - Treasuries (cost $185,901,863)				192,072,044
	Shares
INVESTMENT COMPANIES – 5.0%
Funds and Investment Trusts – 5.0%(d)
Vanguard Global ex-U.S. Real Estate ETF(c)		244,174		13,615,142
Vanguard Real Estate ETF(c)		148,363		13,628,625
Total Investment Companies (cost $24,347,049)				27,243,767
RIGHTS – 0.0%
Utilities – 0.0%
Gas Utilities – 0.0%
Snam SpA, expiring 06/06/2021(a) (e) (f) (cost $0)		15,010		15

27

Company	Shares		U.S. $ Value
SHORT-TERM INVESTMENTS – 3.7%
Investment Companies – 3.6%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(d) (g) (h) (cost $19,575,825)		19,575,825	$	19,575,825
	Principal Amount (000)
U.S. Treasury Bills – 0.1%
U.S. Treasury Bill Zero Coupon, 04/27/2021 (cost $589,984)	$	590		589,994
Total Short-Term Investments (cost $20,165,809)				20,165,819
Total Investments Before Security Lending Collateral for Securities Loaned – 98.2% (cost $394,447,253)				533,566,597
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%
Investment Companies – 0.1%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(d) (g) (h) (cost $635,105)		635,105		635,105
Total Investments – 98.3% (cost $395,082,358)(i)				534,201,702
Other assets less liabilities – 1.7%				9,088,279
Net Assets – 100.0%			$	543,289,981

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
Purchased Contracts
Australian 10 Yr Bond Futures		173		June 2021		$	18,148,524		$	(80,049	)
Canadian 10 Yr Bond Futures		92		June 2021			10,159,020			(179,041	)
MSCI EAFE Futures		5		June 2021			548,000			(1,029	)
MSCI Emerging Markets Futures		406		June 2021			26,846,750			(213,990	)
MSCI Singapore IX ETS Futures		238		April 2021			6,333,043			35,890
OMXS30 Index Futures		279		April 2021			6,987,419			100,654
Russell 2000 E-Mini Futures		140		June 2021			15,557,500			(427,531	)
S&P Mid 400 E Mini Futures		61		June 2021			15,892,330			(5,806	)
TOPIX Index Futures		8		June 2021			1,411,786			(15,945	)
Sold Contracts
Euro STOXX 50 Index Futures		137		June 2021			6,211,111			(142,726	)
FTSE 100 Index Futures		69		June 2021			6,353,764			45,089

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Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation/ (Depreciation)
S&P 500 E-Mini Futures		66		June 2021		$	13,092,420		$	(115,718	)
SPI 200 Futures		70		June 2021			8,993,452			38,985
U.S. T-Note 10 Yr (CBT) Futures		48		June 2021			6,285,000			66,106
									$	(895,111)

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation/ (Depreciation)
Bank of America, NA		CAD	2,702		USD	2,160		06/16/2021		$	10,003
BNP Paribas SA		CAD	7,292		USD	5,802		06/16/2021			(1,277	)
BNP Paribas SA		JPY	390,235		USD	3,591		06/16/2021			64,248
BNP Paribas SA		SEK	19,152		USD	2,250		06/16/2021			55,229
BNP Paribas SA		USD	3,155		CAD	3,991		06/16/2021			21,037
BNP Paribas SA		USD	1,996		NZD	2,787		06/16/2021			(49,871	)
Citibank, NA		SEK	8,267		USD	994		06/16/2021			47,034
Citibank, NA		USD	1,815		CAD	2,304		06/16/2021			18,940
Deutsche Bank AG		AUD	6,719		USD	5,125		06/04/2021			19,806
Deutsche Bank AG		USD	485		AUD	636		06/04/2021			(1,641	)
HSBC Bank USA		GBP	651		USD	909		04/09/2021			11,201
JPMorgan Chase Bank, NA		CAD	4,230		USD	3,337		06/16/2021			(28,823	)
JPMorgan Chase Bank, NA		CHF	1,768		USD	1,905		06/16/2021			30,420
JPMorgan Chase Bank, NA		EUR	9,719		USD	11,728		06/16/2021			313,622
JPMorgan Chase Bank, NA		GBP	1,284		USD	1,786		06/16/2021			14,957
JPMorgan Chase Bank, NA		GBP	5,115		USD	6,987		06/16/2021			(65,834	)
JPMorgan Chase Bank, NA		JPY	1,069,246		USD	10,064		06/16/2021			400,695
JPMorgan Chase Bank, NA		SEK	40,927		USD	4,933		06/16/2021			243,628
JPMorgan Chase Bank, NA		USD	7,263		CAD	9,218		06/16/2021			72,011
JPMorgan Chase Bank, NA		USD	7,019		NOK	59,525		06/16/2021			(59,591	)
JPMorgan Chase Bank, NA		USD	9,849		SEK	82,869		06/16/2021			(353,947	)
Morgan Stanley Capital Services, Inc.		CHF	7,243		USD	7,825		05/06/2021			154,751
Morgan Stanley Capital Services, Inc.		USD	4,087		JPY	444,655		06/16/2021			(68,364	)
Natwest Markets PLC		GBP	572		USD	782		06/16/2021			(6,673	)
Natwest Markets PLC		JPY	182,651		USD	1,723		06/16/2021			72,233
State Street Bank & Trust Co.		USD	898		GBP	651		04/09/2021			7
State Street Bank & Trust Co.		USD	560		SEK	4,871		04/15/2021			(2,144	)
State Street Bank & Trust Co.		USD	1,099		CHF	1,030		05/06/2021			(7,885	)
State Street Bank & Trust Co.		USD	5,750		EUR	4,879		05/27/2021			(22,358	)
State Street Bank & Trust Co.		NZD	570		USD	408		06/16/2021			10,035
State Street Bank & Trust Co.		SEK	3,803		USD	458		06/16/2021			21,851
State Street Bank & Trust Co.		USD	972		GBP	705		06/16/2021			14
State Street Bank & Trust Co.		USD	4,201		JPY	459,595		06/16/2021			(47,363	)
UBS AG		EUR	6,046		USD	7,229		05/27/2021			130,779
										$	996,730

(a) Non-income producing security.

29

(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, 2021, the aggregate market value of these securities amounted to $2,355,845 or 0.4% of net assets.

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

(d) 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.

(e) Fair valued by the Adviser.

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

(g) Affiliated investments.

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

(i) As of March 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $152,608,990 and gross unrealized depreciation of investments was $(13,388,027), resulting in net unrealized appreciation of $139,220,963.

Currency Abbreviations:

AUD – Australian Dollar

CAD – Canadian Dollar

CHF – Swiss Franc

EUR – Euro

GBP – Great British Pound

JPY – Japanese Yen

NOK – Norwegian Krone

NZD – New Zealand Dollar

SEK – Swedish Krona

USD – United States Dollar

Glossary:

ADR – American Depositary Receipt

CBT – Chicago Board of Trade

EAFE – Europe, Australia, and Far East

ETF – Exchange Traded Fund

ETS – Emission Trading Scheme

FTSE – Financial Times Stock Exchange

MSCI – Morgan Stanley Capital International

REG – Registered Shares

REIT – Real Estate Investment Trust

SPI – Share Price Index

TOPIX – Tokyo Price Index

30

COUNTRY BREAKDOWN1 March 31, 2021 (unaudited)
	69.1	%	United States
	6.7	%	Japan
	3.7	%	United Kingdom
	3.0	%	France
	2.5	%	Germany
	2.5	%	Switzerland
	2.1	%	Australia
	1.2	%	Netherlands
	0.9	%	Sweden
	0.8	%	Hong Kong
	0.6	%	Denmark
	0.6	%	Spain
	0.6	%	Italy
	1.9	%	Other
	3.8	%	Short-Term
	100.0	%	Total Investments

1 All data are as of March 31, 2021. The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. “Other” country weightings represent 0.3% or less in the following: Austria, Belgium, Chile, China, Finland, Ireland, Israel, Jordan, Luxembourg, Macau, New Zealand, Norway, Portugal, Singapore and South Africa.

31

AB Variable Products Series Fund, Inc.

AB Dynamic Asset Allocation Portfolio    

March 31, 2021 (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.

32

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of March 31, 2021:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Common Stocks:
Information Technology	$	40,210,773		$	13,194,253		$	—	$	53,405,026
Financials		17,045,497			25,087,385			—		42,132,882
Consumer Discretionary		19,078,167			18,196,193			—		37,274,360
Health Care		19,797,383			17,230,754			—		37,028,137
Industrials		13,226,413			22,273,831			—		35,500,244
Communication Services		16,413,199			7,566,233			—		23,979,432
Consumer Staples		9,248,712			14,107,877			—		23,356,589
Materials		4,016,096			11,094,027			—		15,110,123
Utilities		3,922,128			5,392,547			—		9,314,675
Energy		4,104,235			4,758,220			—		8,862,455
Real Estate		3,655,670			4,465,359			—		8,121,029
Governments - Treasuries		—			192,072,044			—		192,072,044
Investment Companies		27,243,767			—			—		27,243,767
Rights		—			—			15		15
Short-Term Investments:
Investment Companies		19,575,825			—			—		19,575,825
U.S. Treasury Bills		—			589,994			—		589,994
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		635,105			—			—		635,105
Total Investments in Securities		198,172,970			336,028,717			15		534,201,702
Other Financial Instruments(a):
Assets:
Futures		286,724			—			—		286,724
Forward Currency Exchange Contracts		—			1,712,501			—		1,712,501
Liabilities:
Futures		(1,181,835	)		—			—		(1,181,835	)
Forward Currency Exchange Contracts		—			(715,771	)		—		(715,771	)
Total	$	197,277,859		$	337,025,447		$	15	$	534,303,321

^(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.

33

A summary of the Portfolio’s transactions in AB mutual funds for the three months ended March 31, 2021 is as follows:

Fund	Market Value 12/31/2020 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 03/31/2021 (000)		Dividend Income (000)
Government Money Market Portfolio	$	4,201	$	40,326	$	24,951	$	19,576	$	0	**
Government Money Market Portfolio*		67		4,337		3,769		635		0	**
Total	$	4,268	$	44,663	$	28,720	$	20,211	$	0

* Investments of cash collateral for securities lending transactions.

** Amount less than $500.

34