AB Discovery Growth Fund, Inc.
Portfolio of Investments
April 30, 2020 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS 96.7% |
| |||||||
Information Technology 30.5% |
| |||||||
Communications Equipment 1.3% |
| |||||||
Ciena Corp.(a) |
628,802 | $ | 29,082,093 | |||||
|
|
|||||||
Electronic Equipment, Instruments & Components 3.1% |
| |||||||
IPG Photonics Corp.(a) (b) |
137,343 | 17,762,570 | ||||||
Littelfuse, Inc. |
170,063 | 24,699,950 | ||||||
Novanta, Inc.(a) (b) |
337,881 | 29,358,480 | ||||||
|
|
|||||||
71,821,000 | ||||||||
|
|
|||||||
IT Services 1.7% |
| |||||||
Jack Henry & Associates, Inc.(b) |
235,266 | 38,477,754 | ||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 6.3% |
| |||||||
Cree, Inc.(a) (b) |
249,506 | 10,761,194 | ||||||
Entegris, Inc.(b) |
613,751 | 33,283,717 | ||||||
Inphi Corp.(a) (b) |
232,255 | 22,421,897 | ||||||
Lattice Semiconductor Corp.(a) (b) |
1,484,975 | 33,426,787 | ||||||
MKS Instruments, Inc.(b) |
197,130 | 19,758,340 | ||||||
Universal Display Corp. |
176,573 | 26,507,139 | ||||||
|
|
|||||||
146,159,074 | ||||||||
|
|
|||||||
Software 18.1% |
| |||||||
Anaplan, Inc.(a) (b) |
697,761 | 28,510,515 | ||||||
ANSYS, Inc.(a) (b) |
74,182 | 19,423,073 | ||||||
Aspen Technology, Inc.(a) (b) |
267,180 | 27,319,155 | ||||||
Avalara, Inc.(a) |
336,879 | 30,106,876 | ||||||
Coupa Software, Inc.(a) |
207,042 | 36,458,026 | ||||||
Crowdstrike Holdings, Inc. - Class A(a) |
290,500 | 19,655,230 | ||||||
Datadog, Inc. - Class A(a) |
527,380 | 23,795,386 | ||||||
Fair Isaac Corp.(a) |
102,695 | 36,245,173 | ||||||
HubSpot, Inc.(a) (b) |
183,811 | 30,996,049 | ||||||
Manhattan Associates, Inc.(a) (b) |
365,903 | 25,957,159 | ||||||
RingCentral, Inc. - Class A(a) (b) |
175,993 | 40,219,680 | ||||||
Slack Technologies, Inc. - Class A(a) (b) |
559,736 | 14,939,354 | ||||||
Smartsheet, Inc. - Class A(a) (b) |
620,221 | 32,698,051 | ||||||
Splunk, Inc.(a) (b) |
177,859 | 24,964,289 | ||||||
Trade Desk, Inc. (The) - Class A(a) (b) |
88,695 | 25,950,383 | ||||||
|
|
|||||||
417,238,399 | ||||||||
|
|
|||||||
702,778,320 | ||||||||
|
|
|||||||
Health Care 23.0% |
| |||||||
Biotechnology 9.1% |
| |||||||
Allogene Therapeutics, Inc.(a) (b) |
377,912 | 10,921,657 | ||||||
Arena Pharmaceuticals, Inc.(a) (b) |
243,913 | 11,944,420 | ||||||
Ascendis Pharma A/S (Sponsored ADR)(a) |
106,257 | 14,422,263 | ||||||
BeiGene Ltd. (Sponsored ADR)(a) (b) |
64,085 | 9,794,110 | ||||||
Biohaven Pharmaceutical Holding Co., Ltd.(a) |
299,391 | 14,101,316 | ||||||
Blueprint Medicines Corp.(a) |
174,545 | 10,268,482 | ||||||
Coherus Biosciences, Inc.(a) (b) |
782,038 | 12,981,831 |
Company | Shares | U.S. $ Value | ||||||
Deciphera Pharmaceuticals, Inc.(a) |
224,531 | $ | 13,018,307 | |||||
Gossamer Bio, Inc.(a) (b) |
386,164 | 5,027,855 | ||||||
Madrigal Pharmaceuticals, Inc.(a) (b) |
96,060 | 8,038,301 | ||||||
Neurocrine Biosciences, Inc.(a) |
285,526 | 28,021,522 | ||||||
NextCure, Inc.(a) |
264,330 | 8,569,579 | ||||||
PTC Therapeutics, Inc.(a) (b) |
303,366 | 15,447,397 | ||||||
Sarepta Therapeutics, Inc.(a) (b) |
190,856 | 22,498,105 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) (b) |
270,713 | 16,359,186 | ||||||
Vir Biotechnology, Inc.(a) |
250,270 | 7,635,738 | ||||||
|
|
|||||||
209,050,069 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies 4.8% |
| |||||||
Insulet Corp.(a) |
207,636 | 41,469,062 | ||||||
iRhythm Technologies, Inc.(a) (b) |
341,860 | 36,114,091 | ||||||
Penumbra, Inc.(a) (b) |
182,791 | 32,412,500 | ||||||
|
|
|||||||
109,995,653 | ||||||||
|
|
|||||||
Health Care Providers & Services 3.6% |
| |||||||
Amedisys, Inc.(a) |
151,453 | 27,891,584 | ||||||
Guardant Health, Inc.(a) |
443,279 | 34,114,752 | ||||||
HealthEquity, Inc.(a) (b) |
390,804 | 21,990,541 | ||||||
|
|
|||||||
83,996,877 | ||||||||
|
|
|||||||
Health Care Technology 1.6% |
| |||||||
Teladoc Health, Inc.(a) (b) |
231,796 | 38,151,304 | ||||||
|
|
|||||||
Life Sciences Tools & Services 3.5% |
| |||||||
10X Genomics, Inc.(a) (b) |
416,129 | 33,236,223 | ||||||
ICON PLC(a) |
161,696 | 25,947,357 | ||||||
Repligen Corp.(a) (b) |
177,857 | 20,658,091 | ||||||
|
|
|||||||
79,841,671 | ||||||||
|
|
|||||||
Pharmaceuticals 0.4% |
| |||||||
Revance Therapeutics, Inc.(a) (b) |
523,381 | 9,687,782 | ||||||
|
|
|||||||
530,723,356 | ||||||||
|
|
|||||||
Industrials 17.2% |
| |||||||
Aerospace & Defense 1.3% |
| |||||||
Axon Enterprise, Inc.(a) (b) |
427,901 | 31,112,682 | ||||||
|
|
|||||||
Building Products 2.4% |
| |||||||
Armstrong World Industries, Inc. |
338,827 | 26,116,785 | ||||||
Trex Co., Inc.(a) (b) |
300,350 | 28,599,327 | ||||||
|
|
|||||||
54,716,112 | ||||||||
|
|
|||||||
Commercial Services & Supplies 1.0% |
| |||||||
Copart, Inc.(a) |
276,412 | 22,143,365 | ||||||
|
|
|||||||
Construction & Engineering 1.1% |
| |||||||
Jacobs Engineering Group, Inc. |
299,054 | 24,746,719 | ||||||
|
|
|||||||
Electrical Equipment 1.2% |
| |||||||
AMETEK, Inc. |
320,206 | 26,855,677 | ||||||
|
|
Company | Shares | U.S. $ Value | ||||||
Industrial Conglomerates 1.1% |
| |||||||
Carlisle Cos., Inc. |
208,709 | $ | 25,245,441 | |||||
|
|
|||||||
Machinery 4.3% |
| |||||||
IDEX Corp.(b) |
204,070 | 31,351,274 | ||||||
Ingersoll Rand, Inc.(a) (b) |
1,009,305 | 29,350,589 | ||||||
Nordson Corp. |
247,293 | 39,791,917 | ||||||
|
|
|||||||
100,493,780 | ||||||||
|
|
|||||||
Professional Services 1.0% |
| |||||||
CoStar Group, Inc.(a) |
36,570 | 23,706,868 | ||||||
|
|
|||||||
Road & Rail 2.2% |
| |||||||
Kansas City Southern |
168,699 | 22,023,654 | ||||||
Knight-Swift Transportation Holdings, Inc.(b) |
750,599 | 27,907,271 | ||||||
|
|
|||||||
49,930,925 | ||||||||
|
|
|||||||
Trading Companies & Distributors 1.6% |
| |||||||
SiteOne Landscape Supply, Inc.(a) (b) |
296,394 | 26,269,400 | ||||||
United Rentals, Inc.(a) (b) |
92,910 | 11,938,935 | ||||||
|
|
|||||||
38,208,335 | ||||||||
|
|
|||||||
397,159,904 | ||||||||
|
|
|||||||
Consumer Discretionary 15.1% |
| |||||||
Diversified Consumer Services 4.3% |
| |||||||
Bright Horizons Family Solutions, Inc.(a) |
279,665 | 32,566,989 | ||||||
Chegg, Inc.(a) (b) |
737,469 | 31,526,800 | ||||||
Strategic Education, Inc. |
214,405 | 34,154,717 | ||||||
|
|
|||||||
98,248,506 | ||||||||
|
|
|||||||
Hotels, Restaurants & Leisure 2.6% |
| |||||||
Chipotle Mexican Grill, Inc. - Class A(a) |
25,408 | 22,322,198 | ||||||
Planet Fitness, Inc.(a) (b) |
622,733 | 37,569,482 | ||||||
|
|
|||||||
59,891,680 | ||||||||
|
|
|||||||
Household Durables 1.9% |
| |||||||
NVR, Inc.(a) |
7,419 | 22,998,900 | ||||||
Tempur Sealy International, Inc.(a) |
394,298 | 21,193,518 | ||||||
|
|
|||||||
44,192,418 | ||||||||
|
|
|||||||
Specialty Retail 6.3% |
| |||||||
Burlington Stores, Inc.(a) (b) |
200,514 | 36,631,903 | ||||||
Dynatrace, Inc.(a) (b) |
960,025 | 28,656,746 | ||||||
Five Below, Inc.(a) (b) |
325,313 | 29,330,220 | ||||||
Floor & Decor Holdings, Inc. - Class A(a) (b) |
412,173 | 17,476,135 | ||||||
National Vision Holdings, Inc.(a) (b) |
1,259,074 | 33,365,461 | ||||||
|
|
|||||||
145,460,465 | ||||||||
|
|
|||||||
347,793,069 | ||||||||
|
|
Company | Shares | U.S. $ Value | ||||||
Financials 5.5% |
||||||||
Banks 0.5% |
||||||||
SVB Financial Group(a) (b) |
56,410 | $ | 10,896,720 | |||||
|
|
|||||||
Capital Markets 3.3% |
||||||||
Ares Management Corp. - Class A |
727,114 | 24,394,675 | ||||||
PJT Partners, Inc. |
368,113 | 17,905,016 | ||||||
Stifel Financial Corp. |
239,384 | 10,599,923 | ||||||
Tradeweb Markets, Inc. - Class A |
442,848 | 23,098,952 | ||||||
|
|
|||||||
75,998,566 | ||||||||
|
|
|||||||
Insurance 1.7% |
||||||||
eHealth, Inc.(a) |
184,607 | 19,697,567 | ||||||
Goosehead Insurance, Inc. - Class A(a) (b) |
347,876 | 19,529,758 | ||||||
|
|
|||||||
39,227,325 | ||||||||
|
|
|||||||
126,122,611 | ||||||||
|
|
|||||||
Consumer Staples 3.8% |
||||||||
Food & Staples Retailing 2.4% |
||||||||
Caseys General Stores, Inc.(b) |
165,903 | 25,119,373 | ||||||
Grocery Outlet Holding Corp.(a) (b) |
861,896 | 28,675,280 | ||||||
|
|
|||||||
53,794,653 | ||||||||
|
|
|||||||
Food Products 1.4% |
||||||||
Freshpet, Inc.(a) |
429,380 | 32,379,546 | ||||||
|
|
|||||||
86,174,199 | ||||||||
|
|
|||||||
Materials 1.2% |
||||||||
Chemicals 1.2% |
||||||||
FMC Corp. |
308,962 | 28,393,608 | ||||||
|
|
|||||||
Utilities 0.4% |
||||||||
Multi-Utilities 0.4% |
||||||||
CMS Energy Corp. |
172,900 | 9,870,861 | ||||||
|
|
|||||||
Total Common Stocks |
2,229,015,928 | |||||||
|
|
|||||||
INVESTMENT COMPANIES 1.4% |
||||||||
Funds and Investment Trusts 1.4% |
||||||||
iShares Russell 2000 Growth ETF(b) (c) |
186,826 | 34,065,853 | ||||||
|
|
|||||||
PREFERRED STOCKS 0.1% |
||||||||
Consumer Discretionary 0.1% |
||||||||
Household Durables 0.1% |
||||||||
Honest Co., Inc. (The) |
42,660 | 1,224,506 | ||||||
Honest Co., Inc. (The) |
11,161 | 204,814 | ||||||
|
|
|||||||
Total Preferred Stocks |
1,429,320 | |||||||
|
|
Company | Shares | U.S. $ Value | ||||||
SHORT-TERM INVESTMENTS 2.4% |
||||||||
Investment Companies 2.4% |
||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.35%(c) (g) (h) |
54,855,209 | $ | 54,855,209 | |||||
|
|
|||||||
Total Investments Before Security Lending Collateral for Securities Loaned 100.6% |
2,319,366,310 | |||||||
|
|
|||||||
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED 1.7% |
||||||||
Investment Companies 1.7% |
||||||||
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.35%(c) (g) (h) |
39,395,837 | 39,395,837 | ||||||
|
|
|||||||
Total Investments 102.3% |
2,358,762,147 | |||||||
Other assets less liabilities (2.3)% |
(53,798,640 | ) | ||||||
|
|
|||||||
Net Assets 100.0% |
$ | 2,304,963,507 | ||||||
|
|
(a) | Non-income producing security. |
(b) | Represents entire or partial securities out on loan. |
(c) | To obtain a copy of the funds shareholder report, please go to the Securities and Exchange Commissions website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618. |
(d) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(e) | Illiquid security. |
(f) | Fair valued by the Adviser. |
(g) | The rate shown represents the 7-day yield as of period end. |
(h) | Affiliated investments. |
(i) | As of April 30, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $499,756,158 and gross unrealized depreciation of investments was $(60,206,714), resulting in net unrealized appreciation of $439,549,444. |
Glossary:
ADR American Depositary Receipt
ETF Exchange Traded Fund
AB Discovery Growth Fund, Inc.
April 30, 2020 (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 Funds 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 Funds 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 Funds investments by the above fair value hierarchy levels as of April 30, 2020:
Investments in Securities: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Common Stocks(a) | $ | 2,229,015,928 | $ | | $ | | $ | 2,229,015,928 | ||||||||
Investment Companies | 34,065,853 | | | 34,065,853 | ||||||||||||
Preferred Stocks | | | 1,429,320 | 1,429,320 | ||||||||||||
Short-Term Investments | 54,855,209 | | | 54,855,209 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 39,395,837 | | | 39,395,837 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Investments in Securities | 2,357,332,827 | | 1,429,320 | 2,358,762,147 | ||||||||||||
Other Financial Instruments(b) | | | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total | $ | 2,357,332,827 | $ | | $ | 1,429,320 | $ | 2,358,762,147 | ||||||||
|
|
|
|
|
|
|
|
(a) | See Portfolio of Investments for sector classifications. |
(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, options written and swaptions written which are valued at market value. |
A summary of the Funds transactions in AB mutual funds for the nine months ended April 30, 2020 is as follows:
Fund | Market Value 07/31/2019 (000) |
Purchases at Cost (000) |
Sales Proceeds (000) |
Market Value 04/30/2020 (000) |
Dividend Income (000) |
|||||||||||||||
Government Money Market Portfolio | $ | 77,153 | $ | 513,440 | $ | 535,738 | $ | 54,855 | $ | 744 | ||||||||||
Government Money Market Portfolio* | 75,311 | 150,289 | 186,204 | 39,396 | 127 | |||||||||||||||
Total | $ | 152,464 | $ | 663,729 | $ | 721,942 | $ | 94,251 | $ | 871 |
* | Investments of cash collateral for securities lending transactions. |