AB Global High Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

Portfolio %

1) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/21 - 1/01/23 

3.55%

2) U.S. Treasury Notes  2.25%, 2/15/27 

2.39%

3) Indonesia Treasury Bond Series FR77 8.125%, 5/15/24 

1.86%

4) U.S. Treasury Notes  2.875%, 8/15/28 

1.68%

5) Republic of South Africa Government Bond Series R186 10.50%, 12/21/26 

0.79%

6) U.S. Treasury Bonds  6.25%, 5/15/30 

0.73%

7) Indonesia Treasury Bond Series FR78 8.25%, 5/15/29 

0.64%

8) U.S. Treasury Bonds  5.25%, 2/15/29 

0.61%

9) Dominican Republic International Bond  8.625%, 4/20/27 

0.60%

10) Colombian TES Series B 10.00%, 7/24/24 

0.57%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

4.84%

Communications - Media

3.40%

Communications - Telecommunications

2.97%

Consumer Non-Cyclical

2.92%

Basic

2.81%

Consumer Cyclical - Other

1.93%

Consumer Cyclical - Automotive

1.87%

Capital Goods

1.56%

Services

1.44%

Technology

1.21%

Consumer Cyclical - Retailers

0.77%

Transportation - Services

0.61%

Other Industrial

0.58%

Consumer Cyclical - Entertainment

0.23%

Consumer Cyclical - Restaurants

0.18%

SUBTOTAL

27.32%

Credit Default Swaps

12.78%

SUBTOTAL

12.78%

Financial Institutions

Banking

3.32%

Finance

1.30%

Insurance

0.61%

REITS

0.53%

Other Finance

0.48%

Brokerage

0.14%

SUBTOTAL

6.38%

Utility

Electric

0.88%

SUBTOTAL

0.88%

SUBTOTAL

47.36%

Global Governments

11.65%

Collateralized Mortgage Obligations

Risk Share Floating Rate

8.43%

Non-Agency Fixed Rate

0.82%

Non-Agency Floating Rate

0.74%

Agency Fixed Rate

0.64%

SUBTOTAL

10.63%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

8.28%

Credit Default Swaps

1.27%

SUBTOTAL

9.55%

Corporates - Investment Grade

Financial Institutions

Banking

2.68%

Insurance

1.90%

REITS

0.43%

SUBTOTAL

5.01%

Industrial

Consumer Cyclical - Other

0.67%

Energy

0.67%

Technology

0.65%

Basic

0.47%

Consumer Non-Cyclical

0.42%

Communications - Telecommunications

0.36%

Capital Goods

0.28%

Consumer Cyclical - Automotive

0.18%

Other Industrial

0.15%

Consumer Cyclical - Entertainment

0.14%

Communications - Media

0.11%

Services

0.07%

Transportation - Airlines

0.01%

SUBTOTAL

4.18%

SUBTOTAL

9.19%

Commercial Mortgage-Backed Securities

Credit Default Swaps

6.10%

Non-Agency Fixed Rate CMBS

1.89%

Non-Agency Floating Rate CMBS

0.19%

SUBTOTAL

8.18%

Total Return Swaps

5.50%

Interest Rate Futures

5.21%

Emerging Markets - Treasuries

4.49%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.86%

Basic

0.79%

Energy

0.51%

Communications - Telecommunications

0.43%

Consumer Cyclical - Other

0.27%

Transportation - Services

0.16%

Capital Goods

0.11%

Other Industrial

0.09%

Consumer Cyclical - Retailers

0.05%

Transportation - Airlines

0.02%

SUBTOTAL

3.29%

Financial Institutions

Banking

0.45%

REITS

0.23%

Finance

0.05%

Insurance

0.01%

SUBTOTAL

0.74%

Utility

Electric

0.25%

SUBTOTAL

0.25%

SUBTOTAL

4.28%

Bank Loans

Industrial

Consumer Non-Cyclical

1.19%

Technology

0.50%

Capital Goods

0.44%

Services

0.44%

Energy

0.39%

Consumer Cyclical - Retailers

0.24%

Consumer Cyclical - Other

0.23%

Other Industrial

0.18%

Communications - Telecommunications

0.11%

Consumer Cyclical - Entertainment

0.09%

Consumer Cyclical - Automotive

0.08%

Consumer Cyclical - Restaurants

0.06%

Communications - Media

0.05%

Basic

0.04%

SUBTOTAL

4.04%

Financial Institutions

Finance

0.07%

Brokerage

0.03%

SUBTOTAL

0.10%

SUBTOTAL

4.14%

Common Stocks

1.71%

Asset-Backed Securities

Other ABS - Fixed Rate

0.73%

Home Equity Loans - Fixed Rate

0.34%

Autos - Fixed Rate

0.19%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.27%

Local Governments - US Municipal Bonds

0.49%

Investment Companies

Funds and Investment Trusts

0.48%

SUBTOTAL

0.48%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.32%

SUBTOTAL

0.32%

Preferred Stocks

Financial Institutions

0.29%

Utility

0.02%

SUBTOTAL

0.31%

Inflation-Linked Securities

0.26%

Local Governments - Regional Bonds

0.21%

Collateralized Loan Obligations

CLO - Floating Rate

0.09%

SUBTOTAL

0.09%

Currency Instruments

Forward Currency Exchange Contracts

0.07%

SUBTOTAL

0.07%

Whole Loan Trusts

Performing Asset

0.03%

SUBTOTAL

0.03%

Options Purchased - Puts

Options on Forward Contracts

0.01%

SUBTOTAL

0.01%

Warrants

0.01%

Interest Rate Swaps

-0.01%

Put Options Written

-0.02%

Reverse Repurchase Agreements

-0.66%

Net Cash Equivalents

U.S. Treasury Bills

2.66%

Investment Companies

2.65%

Cash

0.70%

Governments - Treasuries

0.49%

Commercial Paper

0.09%

SUBTOTAL

6.59%

Derivative Offsets

Futures Offsets

-5.11%

Swaps Offsets

-26.23%

SUBTOTAL

-31.34%

Total

100.00%

Country Breakdown

Portfolio %

United States

63.37%

Brazil

5.32%

Indonesia

2.85%

United Kingdom

1.93%

Luxembourg

1.81%

France

1.56%

Canada

1.37%

Netherlands

1.21%

Egypt

1.06%

Colombia

0.99%

Turkey

0.96%

Spain

0.95%

South Africa

0.93%

Argentina

0.93%

Italy

0.90%

Dominican Republic

0.87%

Switzerland

0.85%

Ireland

0.72%

Russia

0.72%

Ukraine

0.54%

Nigeria

0.53%

Kenya

0.51%

Mexico

0.50%

India

0.42%

Ivory Coast

0.41%

Sri Lanka

0.41%

Oman

0.41%

Germany

0.38%

Zambia

0.36%

Bahrain

0.34%

Finland

0.33%

Jamaica

0.32%

United Arab Emirates

0.31%

Angola

0.31%

Mongolia

0.29%

Ecuador

0.29%

China

0.28%

Sweden

0.27%

Honduras

0.27%

Gabon

0.26%

Bermuda

0.25%

Denmark

0.24%

Senegal

0.23%

Cayman Islands

0.22%

Venezuela

0.22%

Norway

0.20%

Malaysia

0.20%

Lebanon

0.17%

Macau

0.16%

Togo

0.15%

El Salvador

0.13%

Cameroon

0.12%

Uruguay

0.10%

Peru

0.09%

Virgin Islands (BVI)

0.09%

Ghana

0.08%

Hong Kong

0.07%

Kazakhstan

0.06%

Iraq

0.06%

Jordan

0.06%

Jersey (Channel Islands)

0.02%

Chile

0.02%

Australia

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

102.01%

Japanese Yen

3.05%

Mexican Peso

1.23%

Swiss Franc

1.01%

South African Rand

0.84%

Egypt Pound

0.49%

Indonesian Rupiah

0.49%

Argentine Peso

0.22%

Malaysian Ringgit

0.21%

Great British Pound

0.17%

Uruguayan Peso

0.10%

Nigerian Naira

0.09%

Russian Rubles

0.03%

Indian Rupee

0.01%

New Turkish Lira

-0.01%

Colombian Peso

-0.02%

Brazilian Real

-0.15%

Australian Dollar

-0.48%

Czech Koruny

-0.50%

Euro

-0.79%

Canadian Dollar

-0.98%

Israeli New Shekel

-0.99%

Taiwan New Dollar

-3.01%

Singapore Dollar

-3.02%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

6.62%

AA

0.87%

A

2.31%

BBB

17.64%

BB

27.56%

B

24.60%

CCC

4.86%

CC

0.42%

C

0.30%

D

0.02%

Not Rated

5.69%

Short Term Investments

5.89%

Reverse Repurchase Agreements

-0.66%

N/A

3.88%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

11.27%

1 to 5 years

44.70%

5 to 10 years

34.31%

10 to 20 years

5.37%

20 to 30 years

2.22%

More Than 30 years

0.41%

Other

1.72%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.35%

Average Bond Price:

100.79

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

41.62%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

41.62%

Average Maturity:

5.63  Years

Effective Duration:

4.16  Years

Total Net Assets:

$1,115.66 Million

Net Asset Value:

$12.94

Number of Holdings:

1248

Portfolio Turnover:

40%