AB Corporate Income Shares

Portfolio of Investments

July 31, 2023 (unaudited)

	Principal Amount (000)		U.S. $ Value
CORPORATES - INVESTMENT GRADE – 96.7%
Industrial – 64.0%
Basic – 2.7%
Anglo American Capital PLC 3.875%, 03/16/2029(a)	$	221	$	201,852
5.625%, 04/01/2030(a)		435		433,019
Celanese US Holdings LLC 6.05%, 03/15/2025		165		164,850
Celulosa Arauco y Constitucion SA 4.25%, 04/30/2029(a)		246		225,240
EIDP, Inc. 1.70%, 07/15/2025		433		403,426
Freeport Indonesia PT 4.763%, 04/14/2027(a)		240		232,171
5.315%, 04/14/2032(a)		240		226,537
Georgia-Pacific LLC 3.60%, 03/01/2025(a)		386		373,760
Glencore Funding LLC 4.875%, 03/12/2029(a)		562		549,990
5.70%, 05/08/2033(a)		633		628,468
International Paper Co. 7.30%, 11/15/2039		240		273,005
Inversiones CMPC SA 3.85%, 01/13/2030(a)		210		187,946
LYB International Finance III LLC 5.625%, 05/15/2033		361		360,870
Sealed Air Corp. 1.573%, 10/15/2026(a)		545		482,990
Westlake Corp. 3.375%, 08/15/2061		710		431,673
5.00%, 08/15/2046		315		271,987
WRKCo, Inc. 3.00%, 06/15/2033		572		464,824
4.90%, 03/15/2029		235		227,962
				6,140,570
Capital Goods – 4.4%
Boeing Co. (The) 2.196%, 02/04/2026		1,520		1,402,745
4.875%, 05/01/2025		1,417		1,399,840
6.875%, 03/15/2039		245		271,984
Caterpillar Financial Services Corp. 1.45%, 05/15/2025		484		453,329
4.90%, 01/17/2025		595		593,840
5.40%, 03/10/2025		297		298,770
CNH Industrial Capital LLC 3.95%, 05/23/2025		177		171,924
5.45%, 10/14/2025		303		302,497
Eaton Corp. 4.35%, 05/18/2028		212		207,741
John Deere Capital Corp. 4.70%, 06/10/2030		363		361,047
4.75%, 01/20/2028		736		734,160
4.95%, 07/14/2028		359		361,348

1

	Principal Amount (000)		U.S. $ Value
Johnson Controls International PLC 4.50%, 02/15/2047	$	440	$	383,257
Regal Rexnord Corp. 6.05%, 04/15/2028(a)		1,412		1,402,576
6.30%, 02/15/2030(a)		82		81,668
6.40%, 04/15/2033(a)		765		762,055
Trane Technologies Financing Ltd. 5.25%, 03/03/2033		125		125,905
Westinghouse Air Brake Technologies Corp. 4.40%, 03/15/2024(b)		602		594,956
				9,909,642
Communications - Media – 5.4%
Charter Communications Operating LLC/Charter Communications Operating Capital 5.125%, 07/01/2049		299		234,078
5.25%, 04/01/2053		118		95,407
5.375%, 05/01/2047		519		422,710
6.384%, 10/23/2035		765		751,427
6.484%, 10/23/2045		839		783,970
Cox Communications, Inc. 5.70%, 06/15/2033(a)		254		255,181
Discovery Communications LLC 4.125%, 05/15/2029		602		553,178
4.65%, 05/15/2050		59		44,704
5.20%, 09/20/2047		468		384,696
5.30%, 05/15/2049		82		67,784
FactSet Research Systems, Inc. 2.90%, 03/01/2027		515		475,809
Fox Corp. 5.476%, 01/25/2039		1,523		1,410,633
5.576%, 01/25/2049		346		316,950
Interpublic Group of Cos., Inc. (The) 5.375%, 06/15/2033		430		419,663
Meta Platforms, Inc. 3.85%, 08/15/2032		488		453,440
4.65%, 08/15/2062		515		454,245
4.95%, 05/15/2033		641		645,186
Netflix, Inc. 4.875%, 04/15/2028		705		696,850
Paramount Global 3.70%, 06/01/2028		498		446,059
4.20%, 05/19/2032		663		551,271
5.85%, 09/01/2043		585		489,768
5.90%, 10/15/2040		310		266,085
6.875%, 04/30/2036		397		385,400
Prosus NV 3.257%, 01/19/2027(a)		237		213,840
3.68%, 01/21/2030(a)		210		178,038
Tencent Holdings Ltd. 2.39%, 06/03/2030(a)		397		330,046

2

	Principal Amount (000)		U.S. $ Value
Thomson Reuters Corp. 5.65%, 11/23/2043	$	220	$	206,054
Time Warner Cable LLC 6.55%, 05/01/2037		360		346,050
Warnermedia Holdings, Inc. 5.05%, 03/15/2042		305		254,111
				12,132,633
Communications - Telecommunications – 0.6%
AT&T, Inc. 6.55%, 01/15/2028		100		103,465
Corning, Inc. 5.45%, 11/15/2079		195		179,143
Rogers Communications, Inc. 4.50%, 03/15/2043		4		3,270
T-Mobile USA, Inc. 3.50%, 04/15/2025		476		460,349
3.875%, 04/15/2030		305		280,301
5.05%, 07/15/2033		427		417,619
				1,444,147
Consumer Cyclical - Automotive – 4.3%
Aptiv PLC 5.40%, 03/15/2049		310		278,529
General Motors Co. 5.95%, 04/01/2049		115		107,701
6.75%, 04/01/2046		977		995,446
General Motors Financial Co., Inc. 2.70%, 06/10/2031		572		459,482
3.10%, 01/12/2032		643		525,132
3.60%, 06/21/2030		753		658,231
5.80%, 06/23/2028		54		54,222
5.85%, 04/06/2030		489		488,501
6.05%, 10/10/2025		303		305,257
Harley-Davidson Financial Services, Inc. 3.05%, 02/14/2027(a)		831		757,398
6.50%, 03/10/2028(a)		313		316,280
Hyundai Capital America 5.65%, 06/26/2026(a)		1,125		1,121,996
5.80%, 06/26/2025(a)		912		912,438
5.875%, 04/07/2025(a)		160		160,181
Lear Corp. 4.25%, 05/15/2029		482		455,321
Mercedes-Benz Finance North America LLC 4.80%, 03/30/2026(a)		237		235,061
5.199%, 08/03/2026(a)		678		677,220
Toyota Motor Corp. 5.275%, 07/13/2026		722		728,375
Toyota Motor Credit Corp. 5.45%, 11/10/2027		440		450,072
				9,686,843

3

	Principal Amount (000)		U.S. $ Value
Consumer Cyclical - Entertainment – 1.2%
Hasbro, Inc. 3.55%, 11/19/2026	$	486	$	456,349
3.90%, 11/19/2029		1,540		1,402,047
5.10%, 05/15/2044		355		314,118
Mattel, Inc. 3.375%, 04/01/2026(a)		588		546,764
				2,719,278
Consumer Cyclical - Other – 2.9%
Las Vegas Sands Corp. 2.90%, 06/25/2025		685		646,332
3.90%, 08/08/2029		390		349,666
Lennar Corp. 4.75%, 11/29/2027		1,436		1,399,522
Marriott International, Inc. Series GG 3.50%, 10/15/2032		1,627		1,406,212
Marriott International, Inc./MD 4.90%, 04/15/2029		300		294,135
Series R 3.125%, 06/15/2026		482		454,049
MDC Holdings, Inc. 2.50%, 01/15/2031		490		383,974
6.00%, 01/15/2043		450		402,709
PulteGroup, Inc. 7.875%, 06/15/2032		390		445,310
Toll Brothers Finance Corp. 4.35%, 02/15/2028		751		711,738
				6,493,647
Consumer Cyclical - Restaurants – 1.4%
McDonald’s Corp. 3.625%, 09/01/2049		215		166,973
3.70%, 01/30/2026		1,450		1,402,962
4.45%, 09/01/2048		185		165,679
4.60%, 05/26/2045		280		253,901
4.70%, 12/09/2035		670		647,474
Starbucks Corp. 4.30%, 06/15/2045		310		266,991
4.75%, 02/15/2026		238		236,291
				3,140,271
Consumer Cyclical - Retailers – 1.0%
AutoNation, Inc. 3.85%, 03/01/2032		515		435,788
Ross Stores, Inc. 4.70%, 04/15/2027		160		155,857
4.80%, 04/15/2030		115		108,726
5.45%, 04/15/2050		175		164,271
VF Corp. 2.40%, 04/23/2025		1,490		1,404,116
				2,268,758
Consumer Non-Cyclical – 15.8%
AbbVie, Inc. 3.20%, 05/14/2026		474		451,651
Altria Group, Inc. 2.35%, 05/06/2025		1,480		1,398,067

4

	Principal Amount (000)		U.S. $ Value
2.45%, 02/04/2032	$	938	$	737,249
3.40%, 05/06/2030		180		159,106
5.80%, 02/14/2039		184		181,049
5.95%, 02/14/2049		180		170,741
Amgen, Inc. 6.40%, 02/01/2039		250		268,512
Archer-Daniels-Midland Co. 2.50%, 08/11/2026		480		451,445
4.50%, 08/15/2033		522		511,497
BAT Capital Corp. 2.259%, 03/25/2028		307		265,414
4.39%, 08/15/2037		323		255,590
6.421%, 08/02/2033		395		395,000
BAT International Finance PLC 4.448%, 03/16/2028		395		377,430
Baxalta, Inc. 4.00%, 06/23/2025		765		743,672
Baxter International, Inc. 0.868%, 12/01/2023		545		535,839
Bristol-Myers Squibb Co. 3.90%, 03/15/2062		485		381,375
Bunge Ltd. Finance Corp. 1.63%, 08/17/2025		493		456,326
2.75%, 05/14/2031		1,660		1,402,792
Cardinal Health, Inc. 4.50%, 11/15/2044		305		243,805
4.90%, 09/15/2045		305		262,681
Cargill, Inc. 3.625%, 04/22/2027(a)		560		536,558
4.375%, 04/22/2052(a)		350		310,621
4.50%, 06/24/2026(a)		75		73,993
4.875%, 10/10/2025(a)		453		450,386
5.125%, 10/11/2032(a)		166		167,569
Cigna Group (The) 7.875%, 05/15/2027		53		58,124
CommonSpirit Health 4.35%, 11/01/2042		44		37,775
Conagra Brands, Inc. 4.60%, 11/01/2025		1,432		1,403,417
Gilead Sciences, Inc. 3.65%, 03/01/2026		781		752,907
HCA, Inc. 5.25%, 06/15/2026		571		565,958
5.375%, 02/01/2025		675		671,051
5.50%, 06/01/2033		716		712,656
5.50%, 06/15/2047		1,257		1,172,316
Hershey Co. (The) 0.90%, 06/01/2025		898		832,994
3.125%, 11/15/2049		245		178,335
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc. 5.75%, 04/01/2033(a)		1,423		1,365,198
Johnson & Johnson 5.85%, 07/15/2038		240		266,362
Kenvue, Inc. 5.20%, 03/22/2063(a)		223		224,590

5

	Principal Amount (000)		U.S. $ Value
Kraft Heinz Foods Co. 7.125%, 08/01/2039(a)	$	240	$	266,460
McKesson Corp. 1.30%, 08/15/2026		926		829,085
4.90%, 07/15/2028		278		278,170
Mondelez International Holdings Netherlands BV 0.75%, 09/24/2024(a)		483		456,000
Ochsner LSU Health System of North Louisiana Series 2021 2.51%, 05/15/2031		264		194,682
Pfizer Investment Enterprises Pte Ltd. 5.11%, 05/19/2043		362		358,905
Philip Morris International, Inc. 4.875%, 02/13/2026		1,392		1,382,618
5.00%, 11/17/2025		375		374,216
5.375%, 02/15/2033		1,068		1,064,679
5.625%, 11/17/2029		69		70,508
Pilgrim’s Pride Corp. 3.50%, 03/01/2032		1,426		1,152,037
6.25%, 07/01/2033		1,104		1,096,460
Reynolds American, Inc. 5.70%, 08/15/2035		1,482		1,395,875
Royalty Pharma PLC 1.20%, 09/02/2025		1,293		1,175,195
Shire Acquisitions Investments Ireland DAC 3.20%, 09/23/2026		1,246		1,170,193
Smithfield Foods, Inc. 2.625%, 09/13/2031(a)		738		543,530
3.00%, 10/15/2030(a)		471		373,894
Sutter Health 5.164%, 08/15/2033		158		157,306
Sysco Corp. 2.45%, 12/14/2031		425		346,014
Tyson Foods, Inc. 4.00%, 03/01/2026		1,448		1,402,764
Wyeth LLC 5.95%, 04/01/2037		240		260,405
Zimmer Biomet Holdings, Inc. 1.45%, 11/22/2024		803		760,786
3.55%, 04/01/2025		1,179		1,141,178
				35,681,011
Energy – 6.6%
Apache Corp. 5.10%, 09/01/2040		1,660		1,409,390
BP Capital Markets America, Inc. 2.939%, 06/04/2051		485		328,801
3.00%, 02/24/2050		660		456,951
3.379%, 02/08/2061		380		267,843
4.893%, 09/11/2033		543		536,538
Cheniere Energy Partners LP 5.95%, 06/30/2033(a)		363		367,302
Continental Resources, Inc./OK 2.875%, 04/01/2032(a)		304		236,108

6

	Principal Amount (000)		U.S. $ Value
4.375%, 01/15/2028	$	484	$	458,300
4.90%, 06/01/2044		840		664,868
5.75%, 01/15/2031(a)		221		213,791
Devon Energy Corp. 5.60%, 07/15/2041		285		272,058
Ecopetrol SA 5.875%, 05/28/2045		25		17,875
Energy Transfer LP 3.90%, 07/15/2026		440		421,124
5.00%, 05/15/2044(b)		41		34,362
5.35%, 05/15/2045		135		117,694
EQT Corp. 3.125%, 05/15/2026(a)		492		455,922
6.125%, 02/01/2025(b)		251		251,136
Exxon Mobil Corp. 4.114%, 03/01/2046		168		146,867
4.327%, 03/19/2050		220		196,933
Flex Intermediate Holdco LLC 3.363%, 06/30/2031(a)		215		171,551
4.317%, 12/30/2039(a)		215		154,942
Marathon Oil Corp. 4.40%, 07/15/2027		1,112		1,064,907
6.60%, 10/01/2037		1,167		1,202,103
Marathon Petroleum Corp. 6.50%, 03/01/2041		260		269,672
MPLX LP 5.20%, 12/01/2047		144		126,769
ONEOK, Inc. 6.10%, 11/15/2032		127		129,738
Ovintiv, Inc. 5.65%, 05/15/2028		170		168,992
6.25%, 07/15/2033		245		247,305
Pioneer Natural Resources Co. 2.15%, 01/15/2031		560		458,522
5.10%, 03/29/2026		269		268,206
Suncor Energy, Inc. 6.50%, 06/15/2038		305		317,920
6.85%, 06/01/2039		181		193,368
Var Energi ASA 7.50%, 01/15/2028(a)		717		745,730
8.00%, 11/15/2032(a)		1,300		1,402,570
Western Midstream Operating LP 3.10%, 02/01/2025(b)		394		376,928
3.95%, 06/01/2025		473		456,852
4.65%, 07/01/2026		81		78,674
5.45%, 04/01/2044		149		130,308
				14,818,920
Other Industrial – 0.3%
LKQ Corp. 5.75%, 06/15/2028(a)		387		384,725
6.25%, 06/15/2033(a)		342		344,240
				728,965

7

	Principal Amount (000)		U.S. $ Value
Services – 2.4%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031	$	400	$	324,952
2.70%, 02/09/2041		300		199,680
Amazon.com, Inc. 4.55%, 12/01/2027		531		530,634
Block Financial LLC 2.50%, 07/15/2028		430		366,717
Booking Holdings, Inc. 3.60%, 06/01/2026		469		452,613
4.625%, 04/13/2030		1,164		1,140,988
Global Payments, Inc. 2.90%, 11/15/2031		545		448,241
5.30%, 08/15/2029		460		451,757
Mastercard, Inc. 4.875%, 03/09/2028		595		601,473
PayPal Holdings, Inc. 2.85%, 10/01/2029		504		449,104
S&P Global, Inc. 2.90%, 03/01/2032		226		195,318
4.25%, 05/01/2029		90		87,592
4.75%, 08/01/2028		20		19,929
Verisk Analytics, Inc. 5.75%, 04/01/2033		204		210,932
				5,479,930
Technology – 11.5%
Analog Devices, Inc. 2.95%, 04/01/2025		36		34,725
Apple, Inc. 2.45%, 08/04/2026		782		733,008
2.65%, 05/11/2050		170		116,668
3.25%, 02/23/2026		840		809,516
4.10%, 08/08/2062		345		300,381
4.15%, 05/10/2030		397		391,633
4.45%, 05/06/2044		871		843,720
Broadcom, Inc. 3.137%, 11/15/2035(a)		466		357,646
3.187%, 11/15/2036(a)		573		432,581
4.926%, 05/15/2037(a)		1,542		1,402,341
CDW LLC/CDW Finance Corp. 2.67%, 12/01/2026		1,280		1,159,053
Cisco Systems, Inc. 5.90%, 02/15/2039		370		407,300
Dell International LLC/EMC Corp. 5.75%, 02/01/2033		454		460,442
8.35%, 07/15/2046		42		52,522
Entegris Escrow Corp. 4.75%, 04/15/2029(a)		395		368,713
Fidelity National Information Services, Inc. 2.25%, 03/01/2031		571		465,862
Hewlett Packard Enterprise Co. 6.35%, 10/15/2045(b)		260		272,043
HP, Inc. 4.20%, 04/15/2032		390		351,409
5.50%, 01/15/2033		695		685,451

8

	Principal Amount (000)		U.S. $ Value
Infor, Inc. 1.75%, 07/15/2025(a)	$	95	$	87,142
International Business Machines Corp. 4.25%, 05/15/2049		570		485,264
4.70%, 02/19/2046		300		271,089
4.90%, 07/27/2052		660		616,308
Jabil, Inc. 3.00%, 01/15/2031		540		458,071
3.95%, 01/12/2028		584		548,195
5.45%, 02/01/2029		87		86,556
KLA Corp. 4.95%, 07/15/2052		500		484,915
5.00%, 03/15/2049		280		269,875
5.25%, 07/15/2062		380		379,194
Kyndryl Holdings, Inc. 2.05%, 10/15/2026		1,080		941,004
Lam Research Corp. 3.75%, 03/15/2026		142		137,969
Micron Technology, Inc. 5.375%, 04/15/2028		305		302,307
5.875%, 02/09/2033		310		310,211
6.75%, 11/01/2029		775		814,339
Microsoft Corp. 2.40%, 08/08/2026		864		809,387
3.95%, 08/08/2056		225		198,538
NXP BV/NXP Funding LLC 5.55%, 12/01/2028		1,124		1,137,038
NXP BV/NXP Funding LLC/NXP USA, Inc. 2.70%, 05/01/2025		24		22,851
Oracle Corp. 2.50%, 04/01/2025		619		590,359
3.60%, 04/01/2040		436		335,467
3.65%, 03/25/2041		233		179,657
3.85%, 07/15/2036		1,684		1,411,933
3.85%, 04/01/2060		94		65,466
4.00%, 11/15/2047		537		411,927
4.125%, 05/15/2045		350		275,604
5.375%, 07/15/2040		143		136,187
6.125%, 07/08/2039		254		261,320
SK Hynix, Inc. 2.375%, 01/19/2031(a)		390		302,706
Skyworks Solutions, Inc. 3.00%, 06/01/2031		259		214,967
Take-Two Interactive Software, Inc. 3.30%, 03/28/2024		263		258,453
Texas Instruments, Inc. 4.60%, 02/15/2028		450		450,364
TSMC Arizona Corp. 4.50%, 04/22/2052		345		322,865
Tyco Electronics Group SA 4.50%, 02/13/2026		456		449,146
VMware, Inc. 1.40%, 08/15/2026		1,584		1,403,275
2.20%, 08/15/2031		1,215		951,741
				26,026,704

9

	Principal Amount (000)		U.S. $ Value
Transportation - Airlines – 1.6%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.50%, 10/20/2025(a)	$	1,412	$	1,384,504
4.75%, 10/20/2028(a)		857		829,850
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.50%, 06/20/2027(a)		1,404		1,405,003
				3,619,357
Transportation - Railroads – 0.3%
Norfolk Southern Corp. 5.05%, 08/01/2030		791		789,386
Transportation - Services – 1.6%
Ashtead Capital, Inc. 5.95%, 10/15/2033(a)		364		363,392
ENA Master Trust 4.00%, 05/19/2048(a)		370		273,208
ERAC USA Finance LLC 3.85%, 11/15/2024(a)		711		695,287
4.60%, 05/01/2028(a)		212		207,018
4.90%, 05/01/2033(a)		330		324,835
5.40%, 05/01/2053(a)		367		367,382
7.00%, 10/15/2037(a)		514		588,510
Penske Truck Leasing Co. LP/PTL Finance Corp. 3.90%, 02/01/2024(a)		300		296,511
4.20%, 04/01/2027(a)		117		110,101
United Parcel Service, Inc. 4.875%, 03/03/2033		298		300,911
				3,527,155
				144,607,217
Financial Institutions – 28.7%
Banking – 19.6%
AIB Group PLC 4.263%, 04/10/2025(a)		209		205,376
7.583%, 10/14/2026(a)		249		255,272
Ally Financial, Inc. 5.80%, 05/01/2025		1,102		1,086,506
6.992%, 06/13/2029		430		433,109
8.00%, 11/01/2031		835		884,566
American Express Co. 4.99%, 05/01/2026		1,419		1,403,476
5.389%, 07/28/2027		727		726,724
Banco Bilbao Vizcaya Argentaria SA 5.862%, 09/14/2026		1,400		1,387,148
Banco de Credito del Peru S.A. 3.125%, 07/01/2030(a)		274		253,631
Banco Santander SA 6.921%, 08/08/2033		400		400,000
Banco Santander SA 1.722%, 09/14/2027		600		526,194
2.749%, 12/03/2030		600		470,268

10

	Principal Amount (000)		U.S. $ Value
Bank of America Corp. 3.384%, 04/02/2026	$	390	$	375,371
3.846%, 03/08/2037		510		439,691
Series U 8.631% (LIBOR 3 Month + 3.14%), 08/31/2023(c) (d)		297		296,905
Bank of Ireland Group PLC 6.253%, 09/16/2026(a)		320		318,973
Barclays PLC 5.088%, 06/20/2030		490		453,270
7.119%, 06/27/2034		1,275		1,290,045
BBVA Bancomer SA/Texas 5.875%, 09/13/2034(a)		330		293,779
BNP Paribas SA 1.904%, 09/30/2028(a)		531		455,194
2.591%, 01/20/2028(a)		450		404,784
BPCE SA 5.029%, 01/15/2025(a)		488		480,226
Capital One Financial Corp. 5.468%, 02/01/2029		146		142,597
6.312%, 06/08/2029		315		316,254
Citigroup, Inc. 2.014%, 01/25/2026		1,463		1,381,280
3.875%, 02/18/2026(d)		344		299,115
Series W 4.00%, 12/10/2025(d)		368		330,254
Series Y 4.15%, 11/15/2026(d)		569		478,483
Credit Suisse Group AG 6.373%, 07/15/2026(a)		738		739,166
Danske Bank A/S 4.298%, 04/01/2028(a)		250		235,735
6.466%, 01/09/2026(a)		350		351,194
Deutsche Bank AG/New York NY 2.311%, 11/16/2027		910		799,308
6.119%, 07/14/2026		173		172,170
6.72%, 01/18/2029		684		696,914
7.079%, 02/10/2034		1,098		1,053,893
Discover Bank 4.682%, 08/09/2028		385		350,188
Discover Financial Services 6.70%, 11/29/2032		175		179,279
Goldman Sachs Group, Inc. (The) 1.542%, 09/10/2027		881		777,888
1.948%, 10/21/2027		340		303,236
Series P 8.211% (SOFR + 3.14%), 08/31/2023(c) (d)		369		366,941
HSBC Holdings PLC 2.206%, 08/17/2029		335		282,000
3.973%, 05/22/2030		837		756,422
4.583%, 06/19/2029		970		916,233
4.60%, 12/17/2030(d)		267		213,728
4.755%, 06/09/2028		420		404,737
4.762%, 03/29/2033		242		219,511
8.113%, 11/03/2033		259		286,817

11

	Principal Amount (000)		U.S. $ Value
Intesa Sanpaolo SpA 6.625%, 06/20/2033(a)	$	368	$	369,086
7.00%, 11/21/2025(a)		224		227,387
Series XR 4.00%, 09/23/2029(a)		519		453,409
JPMorgan Chase & Co. 2.947%, 02/24/2028		405		372,916
Series Q 8.884% (SOFR + 3.51%), 11/01/2023(c) (d)		172		173,013
Lloyds Banking Group PLC 5.871%, 03/06/2029		389		388,070
5.985%, 08/07/2027		448		448,000
7.50%, 06/27/2024(d)		287		279,429
7.953%, 11/15/2033		516		563,100
M&T Bank Corp. 3.50%, 09/01/2026(d)		264		196,115
Mitsubishi UFJ Financial Group, Inc. 1.64%, 10/13/2027		828		731,836
Mizuho Financial Group, Inc. 5.414%, 09/13/2028		1,010		1,004,081
5.667%, 05/27/2029		375		375,300
5.739%, 05/27/2031		375		375,052
Morgan Stanley 2.484%, 09/16/2036		500		381,285
National Australia Bank Ltd. 3.347%, 01/12/2037(a)		665		524,505
Nationwide Building Society 2.972%, 02/16/2028(a)		404		365,277
PNC Financial Services Group, Inc. (The) 4.626%, 06/06/2033		245		224,758
5.068%, 01/24/2034		149		143,840
Series O 9.312% (SOFR + 3.94%), 11/01/2023(c) (d)		358		358,967
Santander Holdings USA, Inc. 2.49%, 01/06/2028		662		576,006
4.40%, 07/13/2027		320		304,675
6.499%, 03/09/2029		325		326,365
6.565%, 06/12/2029		428		427,123
Santander UK Group Holdings PLC 6.534%, 01/10/2029		970		980,476
Societe Generale SA 2.226%, 01/21/2026(a)		1,113		1,041,968
2.797%, 01/19/2028(a)		795		708,528
6.446%, 01/10/2029(a)		451		457,422
Standard Chartered PLC 1.456%, 01/14/2027(a)		345		308,958
3.971%, 03/30/2026(a)		245		235,898
4.305%, 05/21/2030(a)		495		454,499
6.187%, 07/06/2027(a)		369		372,343
Sumitomo Mitsui Financial Group, Inc. 5.88%, 07/13/2026		722		729,400
Svenska Handelsbanken AB 4.375%, 03/01/2027(a) (d)		400		344,240

12

	Principal Amount (000)		U.S. $ Value
Synchrony Bank 5.625%, 08/23/2027	$	250	$	237,190
Toronto-Dominion Bank (The) 3.625%, 09/15/2031		485		451,491
UBS Group AG 4.55%, 04/17/2026		790		765,818
4.703%, 08/05/2027(a)		335		325,091
Wells Fargo & Co. 5.574%, 07/25/2029		363		364,739
7.625%, 09/15/2028(d)		191		196,411
Series BB 3.90%, 03/15/2026(d)		647		580,398
Western Union Co. (The) 2.75%, 03/15/2031		490		386,953
Westpac Banking Corp. 3.02%, 11/18/2036		630		483,273
4.11%, 07/24/2034		475		416,076
				44,324,618
Brokerage – 0.5%
Charles Schwab Corp. (The)
Series G 5.375%, 06/01/2025(d)		477		466,625
Series I 4.00%, 06/01/2026(d)		595		532,222
				998,847
Finance – 2.6%
Air Lease Corp. 1.875%, 08/15/2026		513		459,668
2.30%, 02/01/2025		783		740,820
3.375%, 07/01/2025		1,447		1,380,747
Aircastle Ltd. 2.85%, 01/26/2028(a)		664		575,555
4.25%, 06/15/2026		21		19,938
5.25%, 08/11/2025(a)		210		204,303
6.50%, 07/18/2028(a)		324		324,424
Aviation Capital Group LLC 1.95%, 01/30/2026(a)		274		245,962
1.95%, 09/20/2026(a)		391		343,114
3.50%, 11/01/2027(a)		116		104,571
4.375%, 01/30/2024(a)		220		216,927
6.375%, 07/15/2030(a)		197		196,811
Synchrony Financial 2.875%, 10/28/2031		368		273,770
3.95%, 12/01/2027		558		498,060
4.875%, 06/13/2025		267		258,098
5.15%, 03/19/2029		57		53,199
				5,895,967

13

	Principal Amount (000)		U.S. $ Value
Insurance – 2.3%
ACE Capital Trust II 9.70%, 04/01/2030	$	345	$	412,082
Allstate Corp. (The) Series B 5.75%, 08/15/2053		712		706,204
Hartford Financial Services Group, Inc. (The) Series ICON 7.446% (LIBOR 3 Month + 2.12%), 02/12/2047(a) (c)		535		457,527
Humana, Inc. 5.75%, 03/01/2028		264		270,172
Massachusetts Mutual Life Insurance Co. 5.077%, 02/15/2069(a)		170		152,092
MassMutual Global Funding II 0.60%, 04/12/2024(a)		420		404,720
Met Tower Global Funding 0.70%, 04/05/2024(a)		705		680,360
MetLife Capital Trust IV 7.875%, 12/15/2037(a)		150		157,485
MetLife, Inc. Series D 5.875%, 03/15/2028(d)		170		167,287
Nationwide Mutual Insurance Co. 9.375%, 08/15/2039(a)		120		153,437
Peachtree Corners Funding Trust 3.976%, 02/15/2025(a)		110		106,155
Prudential Financial, Inc. 5.20%, 03/15/2044		547		540,420
5.375%, 05/15/2045		260		257,049
Reinsurance Group of America, Inc. 3.15%, 06/15/2030		383		328,955
Swiss Re Finance Luxembourg SA 5.00%, 04/02/2049(a)		400		383,896
				5,177,841
REITs – 3.7%
American Homes 4 Rent LP 4.25%, 02/15/2028		5		4,749
American Tower Corp. 2.10%, 06/15/2030		139		112,255
5.25%, 07/15/2028		231		228,762
5.55%, 07/15/2033		309		308,994
Boston Properties LP 2.90%, 03/15/2030		570		466,283
3.40%, 06/21/2029		1,548		1,331,588
6.50%, 01/15/2034		367		371,514
6.75%, 12/01/2027		288		294,748
Essential Properties LP 2.95%, 07/15/2031		454		347,056
GLP Capital LP/GLP Financing II, Inc. 3.25%, 01/15/2032		139		113,666
4.00%, 01/15/2030		435		379,585
5.25%, 06/01/2025		313		308,540
5.30%, 01/15/2029		96		91,631
5.375%, 04/15/2026		1,414		1,389,877

14

	Principal Amount (000)		U.S. $ Value
Kilroy Realty LP 3.45%, 12/15/2024	$	40	$	38,428
Public Storage 5.786% (SOFR + 0.47%), 04/23/2024(c)		335		335,040
Regency Centers LP 3.75%, 06/15/2024		33		32,274
Simon Property Group LP 5.85%, 03/08/2053		297		299,420
SITE Centers Corp. 4.25%, 02/01/2026		178		167,400
4.70%, 06/01/2027		295		276,725
Spirit Realty LP 3.20%, 02/15/2031		385		315,296
4.00%, 07/15/2029		132		118,129
Vornado Realty LP 2.15%, 06/01/2026		425		362,113
3.40%, 06/01/2031		358		265,375
Weyerhaeuser Co. 7.375%, 03/15/2032		395		446,326
				8,405,774
				64,803,047
Utility – 4.0%
Electric – 3.9%
AEP Texas, Inc. 4.70%, 05/15/2032		404		387,921
AES Panama Generation Holdings SRL 4.375%, 05/31/2030(a)		198		171,451
Alfa Desarrollo SpA 4.55%, 09/27/2051(a)		219		166,076
American Electric Power Co., Inc. 5.699%, 08/15/2025		220		219,844
Berkshire Hathaway Energy Co. 4.50%, 02/01/2045		300		258,063
CenterPoint Energy, Inc. 5.776% (SOFR + 0.65%), 05/13/2024(c)		310		309,699
Commonwealth Edison Co. 5.30%, 02/01/2053		294		297,334
Series 133 3.85%, 03/15/2052		185		147,499
Consolidated Edison Co. of New York, Inc. 4.50%, 05/15/2058		290		242,968
Series A 4.125%, 05/15/2049		280		227,298
Electricite de France SA 9.125%, 03/15/2033(a) (d)		361		380,747
Empresas Publicas de Medellin ESP 4.25%, 07/18/2029(a)		200		162,074
Enel Chile SA 4.875%, 06/12/2028		62		59,489
Enel Finance International NV 7.75%, 10/14/2052(a)		495		583,917
Fells Point Funding Trust 3.046%, 01/31/2027(a)		261		240,650

15

	Principal Amount (000)		U.S. $ Value
Florida Power & Light Co. 3.95%, 03/01/2048	$	632	$	528,162
4.95%, 06/01/2035		455		452,643
5.30%, 04/01/2053		183		188,049
5.69%, 03/01/2040		255		266,228
Georgia Power Co. 4.30%, 03/15/2042		340		293,621
4.70%, 05/15/2032		165		159,408
Massachusetts Electric Co. 4.004%, 08/15/2046(a)		355		265,433
National Rural Utilities Cooperative Finance Corp. 3.45%, 06/15/2025		365		352,276
NextEra Energy Capital Holdings, Inc. 5.65%, 05/01/2079		404		375,296
Niagara Mohawk Power Corp. 2.759%, 01/10/2032(a)		556		451,639
NRG Energy, Inc. 7.00%, 03/15/2033(a)		284		284,196
Palomino Funding Trust I 7.233%, 05/17/2028(a)		374		377,845
Public Service Electric and Gas Co. 3.80%, 03/01/2046		385		311,249
Public Service Enterprise Group, Inc. 8.625%, 04/15/2031		248		284,897
San Diego Gas & Electric Co. Series WWW 2.95%, 08/15/2051		215		145,426
Southern Power Co. Series F 4.95%, 12/15/2046		77		67,363
Virginia Electric & Power Co. 8.875%, 11/15/2038		233		307,362
				8,966,123
Natural Gas – 0.1%
GNL Quintero SA 4.634%, 07/31/2029(a)		141		136,365
				9,102,488
Total Corporates - Investment Grade (cost $228,626,262)				218,512,752
QUASI-SOVEREIGNS – 0.7%
Quasi-Sovereign Bonds – 0.7%
Chile – 0.2%
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030(a)		350		322,056
4.70%, 05/07/2050(a)		295		253,880
				575,936
Mexico – 0.3%
Comision Federal de Electricidad 3.348%, 02/09/2031(a)		321		255,063
Petroleos Mexicanos 6.50%, 01/23/2029		135		112,151

16

	Principal Amount (000)		U.S. $ Value
6.75%, 09/21/2047	$	112	$	71,792
6.95%, 01/28/2060		169		106,893
7.69%, 01/23/2050		80		55,132
				601,031
Peru – 0.1%
Corp. Financiera de Desarrollo SA 2.40%, 09/28/2027(a)		250		219,500
Qatar – 0.1%
QatarEnergy 3.125%, 07/12/2041(a)		277		210,232
Total Quasi-Sovereigns (cost $2,008,668)				1,606,699
GOVERNMENTS - SOVEREIGN BONDS – 0.5%
Colombia – 0.3%
Colombia Government International Bond 3.125%, 04/15/2031		562		438,641
5.20%, 05/15/2049		200		145,154
				583,795
Mexico – 0.1%
Mexico Government International Bond 4.60%, 01/23/2046		200		165,388
4.75%, 03/08/2044		120		103,045
				268,433
Qatar – 0.1%
Qatar Government International Bond 4.817%, 03/14/2049(a)		228		219,140
Uruguay – 0.0%
Uruguay Government International Bond 4.375%, 01/23/2031		54		52,683
Total Governments - Sovereign Bonds (cost $1,350,833)				1,124,051
CORPORATES - NON-INVESTMENT GRADE – 0.4%
Industrial – 0.4%
Consumer Cyclical - Automotive – 0.2%
Ford Motor Credit Co. LLC 3.81%, 01/09/2024		395		390,066
Consumer Non-Cyclical – 0.2%
Perrigo Finance Unlimited Co. 4.375%, 03/15/2026		420		399,735
Total Corporates - Non-Investment Grade (cost $798,144)				789,801
Total Investments – 98.3% (cost $232,783,907)(e)				222,033,303
Other assets less liabilities – 1.7%				3,824,866
Net Assets – 100.0%			$	225,858,169

17

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
U.S. 10 Yr Ultra Futures		2		September 2023		$	233,969		$	(3,003	)
U.S. T-Note 5 Yr (CBT) Futures		96		September 2023			10,254,750			(146,985	)
U.S. Ultra Bond (CBT) Futures		185		September 2023			24,460,469			(309,381	)
Sold Contracts
U.S. T-Note 2 Yr (CBT) Futures		49		September 2023			9,948,531			157,046
U.S. T-Note 10 Yr (CBT) Futures		9		September 2023			1,002,656			25,089
									$	(277,234	)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at July 31, 2023	Notional Amount (000)			Market Value		Upfront Premiums Paid (Received)		Unrealized Appreciation (Depreciation)
Sale Contracts
CDX-NAIG Series 40, 5 Year Index, 06/20/2028*		1.00	%	Quarterly	0.63%		USD	3,280	$	56,606	$	16,065	$	40,541

* Termination date

(a) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At July 31, 2023, the aggregate market value of these securities amounted to $50,124,669 or 22.2% of net assets.

(b) Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at July 31, 2023.

(c) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at July 31, 2023.

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

(e) As of July 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $803,189 and gross unrealized depreciation of investments was $(11,790,486), resulting in net unrealized depreciation of $(10,987,297).

Glossary:

CBT – Chicago Board of Trade

CDX-NAIG – North American Investment Grade Credit Default Swap Index

LIBOR – London Interbank Offered Rate

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

18

AB Corporate Income Shares

July 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)

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.

19

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

Investments in Securities:	Level 1			Level 2		Level 3		Total
Assets:
Corporates - Investment Grade	$	2,709,606		$	215,803,146	$	—	$	218,512,752
Quasi-Sovereigns		—			1,606,699		—		1,606,699
Governments - Sovereign Bonds		—			1,124,051		—		1,124,051
Corporates - Non-Investment Grade		—			789,801		—		789,801
Total Investments in Securities		2,709,606			219,323,697		—		222,033,303
Other Financial Instruments(a):
Assets:
Futures		182,135			—		—		182,135
Centrally Cleared Credit Default Swaps		—			56,606		—		56,606
Liabilities:
Futures		(459,369	)		—		—		(459,369	)
Total	$	2,432,372		$	219,380,303	$	—	$	221,812,675

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

20