NPORT-EX 2 NPORT_6456_91329594_1023.htm HTML

AB Large Cap Growth Fund, Inc.

Portfolio of Investments

October 31, 2023 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 95.2%

        

Information Technology – 33.8%

        

Communications Equipment – 3.3%

        

Arista Networks, Inc.(a)

      2,175,741        $ 435,953,224  

Motorola Solutions, Inc.

      875,674          243,840,182  
       

 

 

  
          679,793,406  
       

 

 

  

Electronic Equipment, Instruments & Components – 0.5%

        

Amphenol Corp. - Class A

      953,903          76,836,887  

Cognex Corp.

      872,361          31,396,272  
       

 

 

  
          108,233,159  
       

 

 

  

IT Services – 0.0%

        

EPAM Systems, Inc.(a)

      5,460          1,187,932  
       

 

 

  

Semiconductors & Semiconductor Equipment – 8.2%

        

ASML Holding NV (REG)

      241,032          144,332,372  

Broadcom, Inc.

      166,216          139,849,156  

Entegris, Inc.

      894,943          78,790,782  

NVIDIA Corp.

             2,288,056          933,069,237  

QUALCOMM, Inc.

      3,726,176          406,115,922  
       

 

 

  
                1,702,157,469  
       

 

 

  

Software – 21.8%

        

Adobe, Inc.(a)

      736,391          391,804,195  

Autodesk, Inc.(a)

      584,129          115,441,414  

Cadence Design Systems, Inc.(a)

      674,754          161,839,747  

Crowdstrike Holdings, Inc. - Class A(a)

      854,436          151,038,652  

Fortinet, Inc.(a)

      8,614,743          492,504,857  

Manhattan Associates, Inc.(a)

      573,847          111,888,688  

Microsoft Corp.

      6,461,879          2,184,825,909  

PTC, Inc.(a)

      560,670          78,729,281  

Roper Technologies, Inc.

      783,376          382,734,012  

ServiceNow, Inc.(a)

      321,256          186,922,804  

Synopsys, Inc.(a)

      341,634          160,376,665  

Tyler Technologies, Inc.(a)

      325,514          121,384,171  
       

 

 

  
          4,539,490,395  
       

 

 

  
          7,030,862,361  
       

 

 

  

Health Care – 23.0%

        

Biotechnology – 3.4%

        

Genmab A/S (Sponsored ADR)(a)

      4,063,326          115,398,459  

Vertex Pharmaceuticals, Inc.(a)

      1,655,901          599,618,311  
       

 

 

  
          715,016,770  
       

 

 

  

Health Care Equipment & Supplies – 6.5%

        

Align Technology, Inc.(a)

      358,160          66,112,754  

Edwards Lifesciences Corp.(a)

      5,364,454          341,823,009  

IDEXX Laboratories, Inc.(a)

      933,183          372,778,613  

Intuitive Surgical, Inc.(a)

      2,134,313          559,659,555  
       

 

 

  
          1,340,373,931  
       

 

 

  

 

1

Company    Shares        U.S. $ Value  

Health Care Providers & Services – 5.6%

 

ABIOMED, Inc.(a) (b) (c)

      294,487        $ 0  

UnitedHealth Group, Inc.

      2,173,688          1,164,140,346  
       

 

 

  
                1,164,140,346  
       

 

 

  

Health Care Technology – 1.8%

        

Veeva Systems, Inc. - Class A(a)

      1,915,088          369,056,608  
       

 

 

  

Life Sciences Tools & Services – 1.0%

        

Mettler-Toledo International, Inc.(a)

      107,893          106,296,183  

Waters Corp.(a)

      434,911          103,739,321  
       

 

 

  
          210,035,504  
       

 

 

  

Pharmaceuticals – 4.7%

        

Eli Lilly & Co.

      905,078          501,349,857  

Zoetis, Inc.

      3,033,687          476,288,859  
       

 

 

  
          977,638,716  
       

 

 

  
          4,776,261,875  
       

 

 

  

Consumer Discretionary – 11.7%

        

Automobiles – 0.7%

        

Ferrari NV

      471,177          142,125,830  
       

 

 

  

Broadline Retail – 4.9%

        

Amazon.com, Inc.(a)

      7,716,493          1,026,988,053  
       

 

 

  

Hotels, Restaurants & Leisure – 1.3%

        

Chipotle Mexican Grill, Inc.(a)

      138,987          269,940,552  
       

 

 

  

Specialty Retail – 2.1%

        

Home Depot, Inc. (The)

      1,037,251          295,294,987  

Tractor Supply Co.

      697,030          134,220,097  
       

 

 

  
          429,515,084  
       

 

 

  

Textiles, Apparel & Luxury Goods – 2.7%

        

Lululemon Athletica, Inc.(a)

      827,238          325,501,608  

NIKE, Inc. - Class B

             2,402,656          246,920,957  
       

 

 

  
          572,422,565  
       

 

 

  
          2,440,992,084  
       

 

 

  

Communication Services – 7.2%

        

Entertainment – 1.6%

        

Netflix, Inc.(a)

      808,415          332,816,371  
       

 

 

  

Interactive Media & Services – 5.6%

        

Alphabet, Inc. - Class C(a)

      9,203,699          1,153,223,485  
       

 

 

  
          1,486,039,856  
       

 

 

  

Industrials – 6.6%

        

Building Products – 1.6%

        

Otis Worldwide Corp.

      3,181,388          245,634,967  

Trex Co., Inc.(a)

      1,553,424          87,317,963  
       

 

 

  
          332,952,930  
       

 

 

  

 

2

Company    Shares        U.S. $ Value  

Commercial Services & Supplies – 2.2%

 

Copart, Inc.(a)

      10,537,730        $ 458,602,010  
       

 

 

  

Electrical Equipment – 0.6%

        

AMETEK, Inc.

      856,466          120,564,719  
       

 

 

  

Machinery – 0.3%

        

IDEX Corp.

      370,259          70,871,275  
       

 

 

  

Professional Services – 1.9%

        

Paycom Software, Inc.

      948,579          232,373,398  

Verisk Analytics, Inc.

      709,253          161,255,762  
       

 

 

  
          393,629,160  
       

 

 

  
          1,376,620,094  
       

 

 

  

Consumer Staples – 6.2%

        

Beverages – 3.2%

        

Monster Beverage Corp.(a)

      12,897,134          659,043,547  
       

 

 

  

Consumer Staples Distribution & Retail – 3.0%

        

Costco Wholesale Corp.

      1,145,177          632,641,582  
       

 

 

  
          1,291,685,129  
       

 

 

  

Financials – 5.9%

        

Capital Markets – 1.0%

        

MSCI, Inc.

      418,324          197,260,682  
       

 

 

  

Financial Services – 4.9%

        

Visa, Inc. - Class A

      4,341,665          1,020,725,442  
       

 

 

  
          1,217,986,124  
       

 

 

  

Materials – 0.8%

        

Chemicals – 0.8%

        

Sherwin-Williams Co. (The)

      670,657          159,757,204  
       

 

 

  

Total Common Stocks
(cost $13,560,242,829)

           19,780,204,727  
       

 

 

  

SHORT-TERM INVESTMENTS – 4.9%

        

Investment Companies – 4.9%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.27%(d) (e) (f)
(cost $1,011,343,792)

      1,011,343,792          1,011,343,792  
       

 

 

  

Total Investments – 100.1%
(cost $14,571,586,621)(g)

 

        20,791,548,519  

Other assets less liabilities – (0.1)%

           (15,027,919 ) 
       

 

 

  

Net Assets – 100.0%

         $     20,776,520,600  
       

 

 

  

 

(a)

Non-income producing security.

(b)

Fair valued by the Adviser.

(c)

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

(d)

To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(e)

Affiliated investments.

 

3

(f)

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

(g)

As of October 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $6,460,092,445 and gross unrealized depreciation of investments was $(240,130,547), resulting in net unrealized appreciation of $6,219,961,898.

 

    

Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Glossary:

ADR – American Depositary Receipt

REG – Registered Shares

 

4

AB Large Cap Growth Fund, Inc.

October 31, 2023 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

 

  •  

Level 1 - quoted prices in active markets for identical investments

  •  

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

  •  

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, by pricing vendors, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of October 31, 2023:

 

Investments in Securities:

    Level 1      Level 2      Level 3      Total  
Assets:

 

Common Stocks:            

Information Technology

    $ 7,030,862,361      $                 —      $                 —      $ 7,030,862,361  

Health Care

      4,776,261,875        —        0 (a)       4,776,261,875  

Consumer Discretionary

      2,440,992,084        —        —        2,440,992,084  

Communication Services

      1,486,039,856        —        —        1,486,039,856  

Industrials

      1,376,620,094        —        —        1,376,620,094  

Consumer Staples

      1,291,685,129        —        —        1,291,685,129  

Financials

      1,217,986,124        —        —        1,217,986,124  

Materials

      159,757,204        —        —        159,757,204  
Short-Term Investments      1,011,343,792        —        —        1,011,343,792  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      20,791,548,519        —        0 (a)       20,791,548,519  
Other Financial Instruments(b)      —        —        —        —  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $     20,791,548,519      $ —      $                 0 (a)     $     20,791,548,519  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

 

5

(a) 

The Fund held securities with zero market value at period end.

 

(b) 

Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the three months ended October 31, 2023 is as follows:

 

Fund    Market Value
07/31/2023
(000)		      Purchases
at Cost
(000)		      Sales
Proceeds
(000)		      Market Value
10/31/2023
(000)		      Dividend
Income
(000)		  
Government Money Market Portfolio    $     1,272,965      $     981,880      $     1,243,501      $     1,011,344      $     16,857  

 

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