AB Discovery Growth Fund, Inc.
Portfolio of Investments
October 31, 2023 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS 96.5% |
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Information Technology 23.9% |
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Electronic Equipment, Instruments & Components 4.4% |
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Fabrinet(a) (b) |
189,307 | $ | 29,342,585 | |||||
Littelfuse, Inc. |
96,406 | 20,888,288 | ||||||
Novanta, Inc.(b) |
219,102 | 28,934,610 | ||||||
Shoals Technologies Group, Inc. - Class A(a) (b) |
1,343,735 | 20,639,770 | ||||||
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99,805,253 | ||||||||
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IT Services 1.1% |
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MongoDB, Inc.(b) |
75,144 | 25,893,871 | ||||||
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Semiconductors & Semiconductor Equipment 5.7% |
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Lattice Semiconductor Corp.(b) |
610,675 | 33,959,637 | ||||||
MACOM Technology Solutions Holdings, Inc.(b) |
550,001 | 38,797,070 | ||||||
Monolithic Power Systems, Inc. |
55,178 | 24,374,330 | ||||||
Universal Display Corp. |
244,458 | 34,023,664 | ||||||
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131,154,701 | ||||||||
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Software 12.7% |
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Fair Isaac Corp.(b) |
37,177 | 31,446,909 | ||||||
Five9, Inc.(b) |
619,832 | 35,869,678 | ||||||
Freshworks, Inc. - Class A(b) |
1,874,712 | 33,632,333 | ||||||
HubSpot, Inc.(b) |
42,963 | 18,206,430 | ||||||
Klaviyo Inc-a(b) |
846,765 | 24,124,335 | ||||||
Manhattan Associates, Inc.(b) |
274,261 | 53,475,410 | ||||||
Monday.com Ltd.(b) |
162,317 | 21,099,587 | ||||||
PTC, Inc.(b) |
307,647 | 43,199,792 | ||||||
Smartsheet, Inc. - Class A(b) |
797,494 | 31,532,913 | ||||||
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292,587,387 | ||||||||
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549,441,212 | ||||||||
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Industrials 21.4% |
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Aerospace & Defense 7.0% |
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Axon Enterprise, Inc.(b) |
282,216 | 57,710,350 | ||||||
Curtiss-Wright Corp. |
198,819 | 39,527,205 | ||||||
Hexcel Corp. |
466,450 | 28,882,584 | ||||||
Howmet Aerospace, Inc. |
790,153 | 34,845,747 | ||||||
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160,965,886 | ||||||||
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Building Products 4.5% |
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AZEK Co., Inc. (The)(b) |
980,080 | 25,678,096 | ||||||
Builders FirstSource, Inc.(b) |
245,721 | 26,665,643 | ||||||
Carlisle Cos., Inc. |
104,127 | 26,457,629 | ||||||
Lennox International, Inc. |
69,000 | 25,567,260 | ||||||
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104,368,628 | ||||||||
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Commercial Services & Supplies 1.6% |
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Tetra Tech, Inc. |
243,015 | 36,673,394 | ||||||
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Ground Transportation 2.4% |
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Saia, Inc.(b) |
66,627 | 23,885,113 | ||||||
XPO, Inc.(a) (b) |
419,560 | 31,806,844 | ||||||
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55,691,957 | ||||||||
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1
Company | Shares | U.S. $ Value | ||||||
Machinery 2.8% |
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Ingersoll Rand, Inc.(a) |
334,132 | $ | 20,275,130 | |||||
ITT, Inc. |
295,154 | 27,552,626 | ||||||
Middleby Corp. (The)(b) |
150,410 | 16,976,776 | ||||||
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64,804,532 | ||||||||
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Professional Services 1.7% |
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FTI Consulting, Inc.(b) |
181,439 | 38,512,242 | ||||||
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Trading Companies & Distributors 1.4% |
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SiteOne Landscape Supply, Inc.(b) |
225,702 | 31,094,965 | ||||||
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492,111,604 | ||||||||
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Health Care 18.9% |
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Biotechnology 8.9% |
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Akero Therapeutics, Inc.(b) |
224,362 | 2,674,395 | ||||||
Arcus Biosciences, Inc.(b) |
442,561 | 6,952,633 | ||||||
Ascendis Pharma A/S (ADR)(b) |
116,669 | 10,419,708 | ||||||
Blueprint Medicines Corp.(b) |
251,458 | 14,800,818 | ||||||
Bridgebio Pharma, Inc.(b) |
477,816 | 12,442,329 | ||||||
Halozyme Therapeutics, Inc.(b) |
436,577 | 14,786,863 | ||||||
Intellia Therapeutics, Inc.(a) (b) |
285,013 | 7,139,576 | ||||||
Karuna Therapeutics, Inc.(a) (b) |
93,884 | 15,642,013 | ||||||
Legend Biotech Corp. (ADR)(b) |
201,252 | 13,296,719 | ||||||
Madrigal Pharmaceuticals, Inc.(a) (b) |
61,566 | 8,088,541 | ||||||
MoonLake Immunotherapeutics(b) |
159,886 | 8,283,694 | ||||||
Natera, Inc.(b) |
777,359 | 30,682,360 | ||||||
Sarepta Therapeutics, Inc.(b) |
222,184 | 14,955,205 | ||||||
Ultragenyx Pharmaceutical, Inc.(b) |
351,834 | 12,454,923 | ||||||
Vaxcyte, Inc.(a) (b) |
320,598 | 15,420,764 | ||||||
Viking Therapeutics, Inc.(a) (b) |
687,730 | 6,746,631 | ||||||
Vir Biotechnology, Inc.(b) |
536,290 | 4,252,780 | ||||||
Xenon Pharmaceuticals, Inc.(b) |
213,310 | 6,612,610 | ||||||
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205,652,562 | ||||||||
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Health Care Equipment & Supplies 4.9% |
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AtriCure, Inc.(b) |
676,873 | 23,446,881 | ||||||
iRhythm Technologies, Inc.(b) |
276,784 | 21,733,080 | ||||||
Lantheus Holdings, Inc.(a) (b) |
428,251 | 27,665,014 | ||||||
Shockwave Medical, Inc.(b) |
192,126 | 39,627,909 | ||||||
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112,472,884 | ||||||||
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Health Care Providers & Services 2.2% |
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Guardant Health, Inc.(b) |
813,967 | 21,065,466 | ||||||
Inari Medical, Inc.(b) |
488,238 | 29,640,929 | ||||||
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50,706,395 | ||||||||
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2
Company | Shares | U.S. $ Value | ||||||
Life Sciences Tools & Services 2.2% |
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ICON PLC(a) (b) |
105,182 | $ | 25,660,201 | |||||
Repligen Corp.(b) |
183,163 | 24,646,413 | ||||||
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50,306,614 | ||||||||
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Pharmaceuticals 0.7% |
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Intra-Cellular Therapies, Inc.(b) |
311,817 | 15,516,014 | ||||||
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434,654,469 | ||||||||
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Consumer Discretionary 14.6% |
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Broadline Retail 0.9% |
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Global-e Online Ltd.(a) (b) |
604,200 | 21,213,462 | ||||||
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Hotels, Restaurants & Leisure 4.1% |
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Cava Group, Inc.(a) (b) |
686,227 | 21,677,911 | ||||||
Vail Resorts, Inc. |
125,847 | 26,711,026 | ||||||
Wingstop, Inc. |
248,373 | 45,395,133 | ||||||
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93,784,070 | ||||||||
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Household Durables 1.2% |
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NVR, Inc.(b) |
4,915 | 26,603,027 | ||||||
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Specialty Retail 5.8% |
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Dynatrace, Inc.(b) |
986,052 | 44,086,385 | ||||||
Five Below, Inc.(a) (b) |
296,277 | 51,546,272 | ||||||
Lithia Motors, Inc.(a) |
111,815 | 27,082,711 | ||||||
Wayfair, Inc. - Class A(a) (b) |
257,360 | 10,966,110 | ||||||
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133,681,478 | ||||||||
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Textiles, Apparel & Luxury Goods 2.6% |
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Deckers Outdoor Corp.(b) |
101,219 | 60,433,816 | ||||||
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335,715,853 | ||||||||
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Financials 8.3% |
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Capital Markets 2.9% |
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Ares Management Corp. - Class A |
367,110 | 36,193,375 | ||||||
PJT Partners, Inc. - Class A(a) |
388,894 | 30,473,734 | ||||||
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66,667,109 | ||||||||
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Financial Services 2.4% |
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Flywire Corp.(b) |
1,223,069 | 32,888,325 | ||||||
Shift4 Payments, Inc. - Class A(b) |
485,447 | 21,612,101 | ||||||
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54,500,426 | ||||||||
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Insurance 3.0% |
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Kinsale Capital Group, Inc. |
123,086 | 41,099,646 | ||||||
Ryan Specialty Holdings, Inc.(a) (b) |
647,355 | 27,965,736 | ||||||
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69,065,382 | ||||||||
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190,232,917 | ||||||||
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3
Company | Shares | U.S. $ Value | ||||||
Energy 4.9% |
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Energy Equipment & Services 1.9% |
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TechnipFMC PLC |
2,062,994 | $ | 44,395,631 | |||||
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Oil, Gas & Consumable Fuels 3.0% |
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Permian Resources Corp.(a) |
2,403,900 | 35,024,823 | ||||||
Southwestern Energy Co.(b) |
4,767,491 | 33,992,211 | ||||||
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69,017,034 | ||||||||
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113,412,665 | ||||||||
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Consumer Staples 4.5% |
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Beverages 1.8% |
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Celsius Holdings, Inc.(b) |
268,897 | 40,896,545 | ||||||
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Consumer Staples Distribution & Retail 1.5% |
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Grocery Outlet Holding Corp.(b) |
1,240,928 | 34,336,478 | ||||||
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Food Products 1.2% |
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Freshpet, Inc.(a) (b) |
480,395 | 27,574,673 | ||||||
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102,807,696 | ||||||||
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Total Common Stocks |
2,218,376,416 | |||||||
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INVESTMENT COMPANIES 1.4% |
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Funds and Investment Trusts 1.4% |
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iShares Russell 2000 Growth ETF(a) (c) |
156,772 | 32,450,236 | ||||||
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SHORT-TERM INVESTMENTS 1.5% |
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Investment Companies 1.5% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.27%(c) (d) (e) |
34,005,413 | 34,005,413 | ||||||
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Total Investments Before Security Lending Collateral for Securities Loaned 99.4% |
2,284,832,065 | |||||||
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INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED 2.4% |
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Investment Companies 2.4% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.27%(c) (d) (e) |
54,167,585 | 54,167,585 | ||||||
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Total Investments 101.8% |
2,338,999,650 | |||||||
Other assets less liabilities (1.8)% |
(40,885,238 | ) | ||||||
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Net Assets 100.0% |
$ | 2,298,114,412 | ||||||
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(a) | Represents entire or partial securities out on loan. |
(b) | Non-income producing security. |
4
(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) | Affiliated investments. |
(e) | The rate shown represents the 7-day yield as of period end. |
(f) | 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 $329,873,481 and gross unrealized depreciation of investments was $(219,867,285), resulting in net unrealized appreciation of $110,006,196. |
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 & Poors. 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
ETF Exchange Traded Fund
5
AB Discovery 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 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 October 31, 2023:
Investments in Securities: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Common Stocks(a) | $ | 2,218,376,416 | $ | | $ | | $ | 2,218,376,416 | ||||||||
Investment Companies | 32,450,236 | | | 32,450,236 | ||||||||||||
Short-Term Investments | 34,005,413 | | | 34,005,413 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 54,167,585 | | | 54,167,585 | ||||||||||||
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Total Investments in Securities | 2,338,999,650 | | | 2,338,999,650 | ||||||||||||
Other Financial Instruments(b) | | | | | ||||||||||||
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Total | $ | 2,338,999,650 | $ | | $ | | $ | 2,338,999,650 | ||||||||
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(a) | See Portfolio of Investments for sector classifications. |
6
(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 Funds 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) |
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Government Money Market Portfolio | $ | 58,623 | $ | 196,874 | $ | 221,492 | $ | 34,005 | $ | 593 | ||||||||||
Government Money Market Portfolio* | 33,955 | 195,154 | 174,941 | 54,168 | 475 | |||||||||||||||
Total | $ | 92,578 | $ | 392,028 | $ | 396,433 | $ | 88,173 | $ | 1,068 |
* | Investments of cash collateral for securities lending transactions |
7