AB All Market Total Return Portfolio

Consolidated Portfolio of Investments

November 30, 2022 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 57.7%
Information Technology – 15.1%
Communications Equipment – 0.4%
Calix, Inc.(a)		4,838	$	344,949
Juniper Networks, Inc.		3,182		105,770
Lumentum Holdings, Inc.(a)		6,152		337,991
Sierra Wireless, Inc.(a) (b)		37,018		1,085,738
				1,874,448
Electronic Equipment, Instruments & Components – 1.4%
Amphenol Corp. - Class A		28,401		2,284,293
CDW Corp./DE		19,383		3,656,409
Flex Ltd.(a)		26,582		584,272
Ibiden Co., Ltd.		2,600		106,696
Keyence Corp.		500		211,566
Keysight Technologies, Inc.(a)		1,619		292,861
				7,136,097
Internet Software & Services – 0.0%
Meta Platforms, Inc. - Class A(a)		522		61,648
IT Services – 5.0%
Accenture PLC - Class A		1,174		353,292
Akamai Technologies, Inc.(a)		12,955		1,228,911
Amdocs Ltd.		885		78,641
Automatic Data Processing, Inc.		15,223		4,021,003
Black Knight, Inc.(a)		23,621		1,464,266
Capgemini SE		3,275		592,111
CGI, Inc.(a)		452		39,462
Cognizant Technology Solutions Corp. - Class A		27,760		1,726,950
Evo Payments, Inc. - Class A(a)		4,683		157,864
Fidelity National Information Services, Inc.		7,808		566,705
Gartner, Inc.(a)		1,229		430,605
Genpact Ltd.		11,634		536,444
Kyndryl Holdings, Inc.(a)		772		9,040
Mastercard, Inc. - Class A		15,906		5,668,899
MoneyGram International, Inc.(a)		36,136		394,605
Otsuka Corp.		10,700		360,140
Paychex, Inc.		7,094		879,869
PayPal Holdings, Inc.(a)		11,477		899,911
Switch, Inc. - Class A		10,776		369,078
VeriSign, Inc.(a)		5,240		1,047,004
Visa, Inc. - Class A		18,928		4,107,376
				24,932,176
Semiconductors & Semiconductor Equipment – 1.9%
Applied Materials, Inc.		9,123		999,881
ASML Holding NV		674		411,490
Broadcom, Inc.		2,304		1,269,573
Enphase Energy, Inc.(a)		1,412		452,673
Infineon Technologies AG		25,920		870,665
KLA Corp.		1,947		765,464
Lam Research Corp.		303		143,131
MediaTek, Inc.		9,000		217,474
NVIDIA Corp.		1,893		320,352

1

Company	Shares		U.S. $ Value
NXP Semiconductors NV		2,068	$	363,637
ON Semiconductor Corp.(a)		4,217		317,118
QUALCOMM, Inc.		1,612		190,829
Silicon Motion Technology Corp. (ADR)		10,822		682,868
STMicroelectronics NV		3,678		142,364
Taiwan Semiconductor Manufacturing Co., Ltd.		18,000		289,077
Teradyne, Inc.		3,512		328,196
Texas Instruments, Inc.		1,296		233,876
Tower Semiconductor Ltd.(a)		28,440		1,267,571
				9,266,239
Software – 4.7%
Adobe, Inc.(a)		2,021		697,103
Autodesk, Inc.(a)		2,271		458,628
Avaya Holdings Corp.(a) (b)		2,217		2,142
Cadence Design Systems, Inc.(a)		2,699		464,336
Constellation Software, Inc./Canada		482		777,033
Crowdstrike Holdings, Inc. - Class A(a)		2,859		336,361
Dassault Systemes SE		8,992		335,287
Dropbox, Inc. - Class A(a)		17,236		406,080
ForgeRock, Inc. - Class A(a) (b)		25,828		561,759
Fortinet, Inc.(a)		7,280		387,005
Intuit, Inc.		611		249,037
KnowBe4, Inc. - Class A(a)		3,440		84,934
Microsoft Corp.		51,236		13,072,354
Monitronics International, Inc.		2,239		560
NortonLifeLock, Inc.		33,543		770,147
Oracle Corp.		12,555		1,042,442
Sage Group PLC (The)		41,968		407,068
SAP SE		3,210		356,171
ServiceNow, Inc.(a)		1,727		718,950
VMware, Inc. - Class A(a)		18,669		2,268,097
				23,395,494
Technology Hardware, Storage & Peripherals – 1.7%
Apple, Inc.		34,124		5,051,376
Dell Technologies, Inc. - Class C		5,627		252,033
NetApp, Inc.		5,643		381,523
Ricoh Co., Ltd.		50,000		397,173
Samsung Electronics Co., Ltd.		44,155		2,121,602
				8,203,707
				74,869,809
Health Care – 10.3%
Biotechnology – 0.8%
AbbVie, Inc.		8,066		1,300,078
Abcam PLC(a)		15,553		243,797
Amgen, Inc.		1,576		451,366
AVEO Pharmaceuticals, Inc.(a)		51,575		771,046
Genmab A/S(a)		661		306,304
Horizon Therapeutics PLC(a)		864		86,651
Incyte Corp.(a)		1,760		140,219
Neurocrine Biosciences, Inc.(a)		2,276		289,189

2

Company	Shares		U.S. $ Value
Regeneron Pharmaceuticals, Inc.(a)		465	$	349,540
Vertex Pharmaceuticals, Inc.(a)		302		95,553
				4,033,743
Health Care Equipment & Supplies – 2.3%
Abbott Laboratories		24,709		2,658,194
ABIOMED, Inc.(a)		3,960		1,496,048
Alcon, Inc.		3,982		274,597
Becton Dickinson and Co.		1,705		425,125
Coloplast A/S - Class B		3,338		394,608
Cooper Cos., Inc. (The)		5,327		1,685,197
Dexcom, Inc.(a)		1,304		151,629
IDEXX Laboratories, Inc.(a)		1,042		443,757
Insulet Corp.(a)		467		139,806
Koninklijke Philips NV		43,908		657,944
Medtronic PLC		17,024		1,345,577
Meridian Bioscience, Inc.(a)		42,404		1,356,928
STERIS PLC		2,037		378,352
				11,407,762
Health Care Providers & Services – 2.4%
1Life Healthcare, Inc.(a)		68,761		1,168,249
AmerisourceBergen Corp.		2,478		422,970
Cardinal Health, Inc.		3,594		288,131
Centene Corp.(a)		10,610		923,601
CVS Health Corp.		5,424		552,597
Elevance Health, Inc.		3,676		1,959,014
Humana, Inc.		877		482,262
LHC Group, Inc.(a)		9,586		1,566,448
McKesson Corp.		3,127		1,193,513
Molina Healthcare, Inc.(a)		1,245		419,279
Signify Health, Inc. - Class A(a)		40,363		1,155,189
UnitedHealth Group, Inc.		2,514		1,377,069
				11,508,322
Health Care Technology – 0.2%
EMIS Group PLC		44,661		1,010,884
Life Sciences Tools & Services – 1.8%
Agilent Technologies, Inc.		814		126,154
Bio-Rad Laboratories, Inc. - Class A(a)		672		278,685
Bruker Corp.		4,072		274,494
Danaher Corp.		1,923		525,767
Gerresheimer AG		3,105		229,192
ICON PLC(a)		1,365		294,076
Illumina, Inc.(a)		6,784		1,479,455
IQVIA Holdings, Inc.(a)		13,770		3,002,135
Mettler-Toledo International, Inc.(a)		299		439,398
Thermo Fisher Scientific, Inc.		3,019		1,691,304
Waters Corp.(a)		1,240		429,784
West Pharmaceutical Services, Inc.		1,115		261,646
				9,032,090

3

Company	Shares		U.S. $ Value
Pharmaceuticals – 2.8%
Chugai Pharmaceutical Co., Ltd.(b)		11,600	$	308,915
Eli Lilly & Co.		3,302		1,225,306
Jazz Pharmaceuticals PLC(a)		345		54,134
Johnson & Johnson		4,432		788,896
Mallinckrodt PLC(a)		223		2,414
Merck & Co., Inc.		10,537		1,160,334
Novo Nordisk A/S - Class B		14,580		1,828,887
Pfizer, Inc.		14,390		721,371
Roche Holding AG (BR)		611		245,447
Roche Holding AG (Genusschein)		9,280		3,031,070
Sanofi		21,610		1,952,016
Zoetis, Inc.		16,254		2,505,391
				13,824,181
				50,816,982
Financials – 8.4%
Banks – 3.4%
ABN AMRO Bank NV(c)		46,576		600,640
Banco Bilbao Vizcaya Argentaria SA		74,008		436,132
Bank Leumi Le-Israel BM		68,887		631,487
Barclays PLC		65,176		127,489
BNP Paribas SA		14,984		841,981
Citigroup, Inc.		11,295		546,791
Commerzbank AG(a)		26,217		219,596
Commonwealth Bank of Australia(b)		7,428		547,422
DBS Group Holdings Ltd.		14,600		380,750
Erste Group Bank AG		13,257		415,095
First Horizon Corp.		66,748		1,658,688
HDFC Bank Ltd. (ADR)		8,540		602,668
JPMorgan Chase & Co.		9,489		1,311,190
KBC Group NV		2,016		111,674
KeyCorp		4,840		91,040
Mitsubishi UFJ Financial Group, Inc.		344,200		1,877,109
National Bank of Canada		2,662		189,842
NatWest Group PLC		96,815		307,902
Nordea Bank Abp (Stockholm)		43,783		460,116
Oversea-Chinese Banking Corp., Ltd.		74,000		682,034
Royal Bank of Canada(b)		8,694		864,649
Skandinaviska Enskilda Banken AB - Class A		27,637		318,675
Societe Generale SA		11,272		283,705
Standard Chartered PLC		53,993		402,196
SVB Financial Group(a)		806		186,815
Toronto-Dominion Bank (The)		7,698		512,361
Umpqua Holdings Corp.		79,907		1,619,715
Wells Fargo & Co.		15,851		760,055
				16,987,817
Capital Markets – 2.7%
Ameriprise Financial, Inc.		1,314		436,182
BlackRock, Inc.		2,096		1,500,736
Carlyle Group, Inc. (The)		5,338		166,386
Charles Schwab Corp. (The)		45,616		3,765,145
CME Group, Inc.		3,644		643,166
Deutsche Boerse AG		1,920		352,847
Goldman Sachs Group, Inc. (The)		7,572		2,923,928
Houlihan Lokey, Inc.		5,723		562,857

4

Company	Shares		U.S. $ Value
Julius Baer Group Ltd.		20,288	$	1,168,636
London Stock Exchange Group PLC		2,306		230,912
Morgan Stanley		3,374		314,018
MSCI, Inc.		1,003		509,354
Partners Group Holding AG		553		550,992
Raymond James Financial, Inc.		1,186		138,643
Singapore Exchange Ltd.		43,300		289,824
				13,553,626
Consumer Finance – 0.1%
American Express Co.		4,096		645,489
Diversified Financial Services – 0.1%
Berkshire Hathaway, Inc. - Class B(a)		583		185,744
Wendel SE		1,428		132,966
				318,710
Insurance – 1.6%
Admiral Group PLC		5,401		132,043
Aflac, Inc.		5,926		426,257
AIA Group Ltd.		31,400		318,855
American International Group, Inc.		7,197		454,203
Aviva PLC		76,834		414,847
AXA SA		13,275		375,265
Everest Re Group Ltd.		1,205		407,218
Fidelity National Financial, Inc.		10,016		404,246
Gjensidige Forsikring ASA		6,086		117,483
Japan Post Holdings Co., Ltd.		52,300		409,936
Japan Post Insurance Co., Ltd.		22,400		372,529
Manulife Financial Corp.		4,037		72,718
Marsh & McLennan Cos., Inc.		3,340		578,421
NN Group NV		13,963		596,729
Principal Financial Group, Inc.		4,619		414,232
Progressive Corp. (The)		4,152		548,687
Prudential Financial, Inc.		3,867		417,752
Sampo Oyj - Class A		13,670		692,292
Willis Towers Watson PLC		2,732		672,509
				7,826,222
Thrifts & Mortgage Finance – 0.5%
Flagstar Bancorp, Inc.		45,637		1,713,213
Home Capital Group, Inc.(b)		15,827		502,407
				2,215,620
				41,547,484
Consumer Discretionary – 6.2%
Auto Components – 0.6%
Aisin Corp.		4,600		126,775
Aptiv PLC(a)		21,779		2,323,166
BorgWarner, Inc.		9,546		405,800
Energy Technology(d) (e)		13		2,275
				2,858,016
Automobiles – 0.3%
IAA, Inc.(a)		17,471		652,891
Tesla, Inc.(a)		3,155		614,279
				1,267,170

5

Company	Shares		U.S. $ Value
Distributors – 0.0%
D’ieteren Group		786	$	149,695
Diversified Consumer Services – 0.1%
Service Corp. International/US		8,617		615,685
Hotels, Restaurants & Leisure – 1.3%
Caesars Entertainment, Inc.(a)		367		18,647
Chipotle Mexican Grill, Inc.(a)		266		432,772
Compass Group PLC		25,941		591,401
Domino’s Pizza, Inc.		733		284,939
Evolution AB(c)		3,104		319,724
Galaxy Entertainment Group Ltd.		222,800		1,354,503
Marriott International, Inc./MD - Class A		2,759		456,201
Sodexo SA		4,174		399,759
Starbucks Corp.		17,241		1,762,030
Yum China Holdings, Inc.		12,258		675,661
Yum! Brands, Inc.		2,149		276,490
				6,572,127
Household Durables – 0.4%
iRobot Corp.(a)		23,035		1,199,893
Open House Group Co., Ltd.		9,300		394,381
TopBuild Corp.(a)		1,024		157,778
				1,752,052
Internet & Direct Marketing Retail – 1.4%
Alibaba Group Holding Ltd.(a)		51,300		558,305
Alibaba Group Holding Ltd. (Sponsored ADR)(a)		8,555		749,076
Amazon.com, Inc.(a)		46,568		4,495,675
Poshmark, Inc. - Class A(a)		12,030		214,495
Prosus NV		5,802		379,675
ZOZO, Inc.		19,100		482,211
				6,879,437
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		5,600		371,058
BRP, Inc.		1,841		137,765
Carlson Travel, Inc.		1,901		11,121
				519,944
Multiline Retail – 0.1%
ATD New Holdings, Inc.(a)		2,609		186,543
Cie Financiere Richemont SA (REG)		3,678		487,585
				674,128
Specialty Retail – 1.1%
AutoZone, Inc.(a)		541		1,395,239
Home Depot, Inc. (The)		2,243		726,710
O’Reilly Automotive, Inc.(a)		835		721,891
TJX Cos., Inc. (The)		32,286		2,584,494
				5,428,334

6

Company	Shares		U.S. $ Value
Textiles, Apparel & Luxury Goods – 0.8%
adidas AG		603	$	77,732
Kering SA		1,084		651,307
NIKE, Inc. - Class B		27,945		3,065,287
Pandora A/S		5,398		410,954
				4,205,280
				30,921,868
Industrials – 5.0%
Aerospace & Defense – 0.4%
Airbus SE		4,117		472,613
BAE Systems PLC		42,653		422,424
Dassault Aviation SA		917		145,764
Hexcel Corp.		4,974		298,191
Huntington Ingalls Industries, Inc.		1,717		398,276
Rheinmetall AG		363		74,188
				1,811,456
Air Freight & Logistics – 0.2%
Atlas Air Worldwide Holdings, Inc.(a)		6,204		625,177
Expeditors International of Washington, Inc.		3,657		424,431
				1,049,608
Airlines – 0.3%
Deutsche Lufthansa AG (REG)(a)		49,511		399,161
Spirit Airlines, Inc.		53,764		1,167,217
				1,566,378
Building Products – 0.6%
Assa Abloy AB - Class B		11,753		269,489
Otis Worldwide Corp.		31,722		2,477,171
Owens Corning		5,770		512,607
				3,259,267
Commercial Services & Supplies – 0.7%
Cintas Corp.		949		438,229
Rollins, Inc.		9,931		401,610
Stericycle, Inc.(a)		30,093		1,568,748
Tetra Tech, Inc.		2,757		426,205
TOMRA Systems ASA		17,025		326,840
Waste Management, Inc.		3,495		586,181
				3,747,813
Construction & Engineering – 0.1%
AECOM		3,184		270,640
WillScot Mobile Mini Holdings Corp.(a)		1,235		59,539
				330,179
Electrical Equipment – 0.2%
Eaton Corp. PLC		5,637		921,368

7

Company	Shares		U.S. $ Value
Machinery – 1.7%
Altra Industrial Motion Corp.		18,308	$	1,073,215
Atlas Copco AB - Class B		13,809		156,777
Caterpillar, Inc.		1,554		367,381
CNH Industrial NV		25,634		413,139
Deere & Co.		1,446		637,686
Dover Corp.		10,038		1,424,894
Illinois Tool Works, Inc.		2,103		478,369
Parker-Hannifin Corp.		4,288		1,281,855
SMC Corp.		800		365,049
Snap-on, Inc.		1,712		411,907
Techtronic Industries Co., Ltd.		36,700		447,379
Volvo AB - Class A		6,126		116,668
Volvo AB - Class B		53,670		986,005
Xylem, Inc./NY		2,202		247,395
				8,407,719
Marine – 0.0%
SITC International Holdings Co., Ltd.		80,000		177,468
Professional Services – 0.5%
Booz Allen Hamilton Holding Corp.		3,461		368,251
Experian PLC		868		30,711
RELX PLC (Amsterdam)		24,893		702,500
Robert Half International, Inc.		5,176		407,765
Wolters Kluwer NV		7,359		811,038
				2,320,265
Road & Rail – 0.1%
Canadian National Railway Co.		4,037		518,269
Trading Companies & Distributors – 0.2%
Toyota Tsusho Corp.		3,900		150,551
United Rentals, Inc.(a)		833		294,074
WW Grainger, Inc.		704		424,554
				869,179
Transportation Infrastructure – 0.0%
Atlas Corp.(b)		2,868		44,081
				25,023,050
Communication Services – 3.6%
Diversified Telecommunication Services – 1.3%
BCE, Inc.		7,012		333,932
Charter Communications, Inc. - Class A(a)		193		75,519
Comcast Corp. - Class A		57,917		2,122,079
Deutsche Telekom AG (REG)		12,706		258,475
HKT Trust & HKT Ltd.		347,000		423,104
Intelsat Jackson Holdings SA(a) (d) (e)		346		0
Intelsat SA		1,653		38,639
Nippon Telegraph & Telephone Corp.		17,700		490,803
Shaw Communications, Inc. - Class B		62,225		1,698,160
Spark New Zealand Ltd.		121,661		396,628
Telstra Group Ltd.		288,194		781,932
				6,619,271

8

Company	Shares		U.S. $ Value
Entertainment – 1.0%
Activision Blizzard, Inc.		23,295	$	1,722,665
Electronic Arts, Inc.		17,452		2,282,373
Live Nation Entertainment, Inc.(a)		5,648		410,948
Ubisoft Entertainment SA(a)		4,280		119,062
Universal Music Group NV(b)		13,693		325,630
				4,860,678
Interactive Media & Services – 1.2%
Alphabet, Inc. - Class A(a)		7,090		716,019
Alphabet, Inc. - Class C(a)		45,322		4,597,917
Auto Trader Group PLC(c)		55,566		383,589
Kakaku.com, Inc.		10,100		181,539
				5,879,064
Media – 0.1%
DISH Network Corp. - Class A(a)		609		9,775
iHeartMedia, Inc. - Class A(a)		2,453		19,722
TEGNA, Inc.		14,345		283,170
				312,667
				17,671,680
Consumer Staples – 3.0%
Beverages – 1.4%
Asahi Group Holdings Ltd.		65,039		2,085,922
Coca-Cola Co. (The)		36,754		2,337,922
Constellation Brands, Inc. - Class A		6,977		1,795,531
Heineken Holding NV		3,400		257,407
Keurig Dr Pepper, Inc.		4,694		181,517
Kirin Holdings Co., Ltd.(b)		16,800		265,198
				6,923,497
Food & Staples Retailing – 0.7%
Albertsons Cos., Inc. - Class A		19,044		398,972
Alimentation Couche-Tard, Inc.		3,072		139,949
Costco Wholesale Corp.		196		105,693
George Weston Ltd.		1,399		175,193
Jeronimo Martins SGPS SA		16,591		370,170
Koninklijke Ahold Delhaize NV		30,450		887,377
Kroger Co. (The)		6,552		322,293
Loblaw Cos., Ltd.		2,887		260,552
Progenics Pharmaceuticals, Inc.(d) (e)		136,645		0
Sysco Corp.		5,092		440,509
Walmart, Inc.		1,688		257,285
				3,357,993
Food Products – 0.3%
Archer-Daniels-Midland Co.		4,762		464,295
Bunge Ltd.		3,864		405,102
Hershey Co. (The)		1,801		423,541
Nestle SA (REG)		873		103,908
Salmar ASA		4,783		168,597
				1,565,443

9

Company	Shares		U.S. $ Value
Household Products – 0.4%
Colgate-Palmolive Co.		6,055	$	469,141
Kimberly-Clark Corp.		783		106,198
Procter & Gamble Co. (The)		6,598		984,158
Southeastern Grocers, Inc.(a) (d) (e)		8,714		189,530
				1,749,027
Personal Products – 0.1%
Unilever PLC (London)		11,319		565,963
Tobacco – 0.1%
Imperial Brands PLC		16,183		416,244
Philip Morris International, Inc.		2,503		249,474
				665,718
				14,827,641
Energy – 1.9%
Energy Equipment & Services – 0.6%
CHC Group LLC(a)		1,138		2
Diamond Offshore Drilling, Inc.(f)		3,643		34,864
Halliburton Co.		11,397		431,832
Shell PLC		89,939		2,632,137
Vantage Drilling International(a)		250		4,000
				3,102,835
Oil, Gas & Consumable Fuels – 1.3%
Battalion Oil Corp.(a)		1		11
Berry Corp.		5,577		50,249
Cenovus Energy, Inc.(b)		20,681		411,268
Cheniere Energy, Inc.		5,260		922,394
Chevron Corp.		530		97,154
Civitas Resources, Inc.		493		33,208
Denbury, Inc.(a)		594		53,317
Equinor ASA		40,786		1,570,702
Exxon Mobil Corp.		2,332		259,645
Imperial Oil Ltd.(b)		7,062		401,780
K201640219 South Africa Ltd. - Series A(d) (e)		465,862		0
K201640219 South Africa Ltd. - Series B(d) (e)		73,623		0
Marathon Petroleum Corp.		3,754		457,275
Neste Oyj		8,486		438,018
Repsol SA		27,070		417,970
SandRidge Energy, Inc.(a)		14		286
Suncor Energy, Inc.(b)		8,588		282,383
Texas Pacific Land Corp.		160		414,806
Tourmaline Oil Corp.		1,020		62,080
Valero Energy Corp.		878		117,318
Woodside Energy Group Ltd.		5,789		146,199
				6,136,063
				9,238,898
Materials – 1.5%
Chemicals – 0.6%
CF Industries Holdings, Inc.		3,537		382,668
Chr Hansen Holding A/S		4,131		254,963

10

Company	Shares		U.S. $ Value
Koninklijke DSM NV		2,206	$	286,125
Linde PLC		3,532		1,188,447
Mitsubishi Chemical Group Corp.		23,100		123,345
OCI NV		9,397		397,813
Sumitomo Chemical Co., Ltd.		101,100		368,594
				3,001,955
Containers & Packaging – 0.1%
Avery Dennison Corp.		1,951		377,187
Westrock Co.		16		607
				377,794
Metals & Mining – 0.7%
Artsonig Pty Ltd.(d) (e)		51,133		0
Fortescue Metals Group Ltd.(b)		13,332		177,444
Mineral Resources Ltd.		1,221		73,544
Nippon Steel Corp.		2,500		40,053
Steel Dynamics, Inc.		3,931		408,549
Teck Resources Ltd. – Class B		5,241		194,265
Turquoise Hill Resources Ltd.(a)		35,113		1,099,476
Yamana Gold, Inc.		279,387		1,525,453
				3,518,784
Paper & Forest Products – 0.1%
Resolute Forest Products, Inc.(a)		14,789		312,048
				7,210,581
Utilities – 1.4%
Electric Utilities – 1.0%
American Electric Power Co., Inc.		4,316		417,789
Enel SpA		31,780		171,446
First Trust Global Wind Energy ETF(b)		20,043		348,949
Iberdrola SA		65,072		735,145
NextEra Energy, Inc.		5,634		477,200
NRG Energy, Inc.		9,491		402,893
Orsted AS(c)		3,167		277,304
PNM Resources, Inc.		34,082		1,670,018
Xcel Energy, Inc.		5,629		395,268
				4,896,012
Gas Utilities – 0.2%
Naturgy Energy Group SA(b)		13,975		392,924
South Jersey Industries, Inc.		16,897		586,326
UGI Corp.		10,403		402,076
				1,381,326
Multi-Utilities – 0.1%
Sempra Energy		2,796		464,667
Water Utilities – 0.1%
American Water Works Co., Inc.		1,667		252,984
				6,994,989
Real Estate – 1.3%
Equity Real Estate Investment Trusts (REITs) – 1.0%
American Tower Corp.		9,992		2,210,730

11

Company			Shares		U.S. $ Value
Extra Space Storage, Inc.				1,177	$	189,132
Host Hotels & Resorts, Inc.				7,343		139,076
Iron Mountain, Inc.				4,132		224,492
Link REIT				24,700		166,844
Medical Properties Trust, Inc.(b)				11,653		152,887
Nippon Building Fund, Inc.				39		181,917
Public Storage				77		22,943
Simon Property Group, Inc.				3,675		438,942
Stockland				46,377		121,084
STORE Capital Corp.				17,753		566,321
Summit Industrial Income REIT				27,410		459,499
Weyerhaeuser Co.				12,825		419,506
						5,293,373
Real Estate Management & Development – 0.3%
CBRE Group, Inc. - Class A(a)				17,452		1,389,179
						6,682,552
Total Common Stocks (cost $255,788,934)						285,805,534
	Principal Amount (000)
CORPORATES – NON-INVESTMENT GRADE – 5.7%
Industrial – 5.0%
Basic – 0.3%
Arconic Corp. 6.125%, 02/15/2028(c)		U.S.$		33		30,974
ASP Unifrax Holdings, Inc. 5.25%, 09/30/2028(c)				58		47,915
7.50%, 09/30/2029(c)				16		10,697
Big River Steel LLC/BRS Finance Corp. 6.625%, 01/31/2029(c)				102		99,138
Cleveland-Cliffs, Inc. 4.625%, 03/01/2029(b) (c)				25		21,935
6.75%, 03/15/2026(c)				12		12,077
Crown Americas LLC/Crown Americas Capital Corp. VI 4.75%, 02/01/2026				20		19,357
CVR Partners LP/CVR Nitrogen Finance Corp. 6.125%, 06/15/2028(c)				64		57,811
Element Solutions, Inc. 3.875%, 09/01/2028(c)				91		77,857
ERP Iron Ore, LLC 1.00%, 12/31/2019(a) (d) (e) (g) (h)				12		8,102
FMG Resources (August 2006) Pty Ltd. 4.50%, 09/15/2027(c)				36		33,128
6.125%, 04/15/2032(c)				166		152,295
Glatfelter Corp. 4.75%, 11/15/2029(c)				32		20,877
Graham Packaging Co., Inc. 7.125%, 08/15/2028(c)				28		23,793

12

	Principal Amount (000)			U.S. $ Value
Illuminate Buyer LLC/Illuminate Holdings IV, Inc. 9.00%, 07/01/2028(c)		U.S.$	11	$	9,124
INEOS Quattro Finance 1 PLC 3.75%, 07/15/2026(c)		EUR	149		131,856
Intelligent Packaging Holdco Issuer LP 9.00% (9.00% Cash or 9.75% PIK), 01/15/2026(c) (h)		U.S.$	52		36,625
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC 6.00%, 09/15/2028(c)			123		100,091
Magnetation LLC/Mag Finance Corp. 11.00%, 05/15/2018(a) (d) (e) (f) (g)			146		0
Mercer International, Inc. 5.125%, 02/01/2029			93		79,832
Valvoline, Inc. 4.25%, 02/15/2030(c)			152		147,863
Vibrantz Technologies, Inc. 9.00%, 02/15/2030(c)			234		175,523
WR Grace Holdings LLC 4.875%, 06/15/2027(c)			59		52,860
					1,349,730
Capital Goods – 0.4%
ARD Finance SA 5.00% (5.00% Cash or 5.75% PIK), 06/30/2027(c) (h)		EUR	202		147,690
Ardagh Packaging Finance PLC / Ardagh Holdings USA, Inc. 2.125%, 08/15/2026(c)			218		193,204
Clean Harbors, Inc. 4.875%, 07/15/2027(c)		U.S.$	3		2,823
Eco Material Technologies, Inc. 7.875%, 01/31/2027(c)			121		115,118
Energizer Holdings, Inc. 4.75%, 06/15/2028(c)			33		28,933
EnerSys 4.375%, 12/15/2027(c)			100		89,196
Gates Global LLC/Gates Corp. 6.25%, 01/15/2026(c)			130		125,347
GFL Environmental, Inc. 5.125%, 12/15/2026(c)			15		14,439
Granite US Holdings Corp. 11.00%, 10/01/2027(b) (c)			54		56,364
Harsco Corp. 5.75%, 07/31/2027(c)			122		98,686
JELD-WEN, Inc. 4.625%, 12/15/2025(c)			17		14,407
LSB Industries, Inc. 6.25%, 10/15/2028(c)			23		21,478
Madison IAQ LLC 5.875%, 06/30/2029(c)			207		151,890

13

	Principal Amount (000)			U.S. $ Value
Moog, Inc. 4.25%, 12/15/2027(c)		U.S.$	42	$	38,058
SPX FLOW, Inc. 8.75%, 04/01/2030(c)			103		85,237
Stevens Holding Co., Inc. 6.125%, 10/01/2026(c)			18		18,079
Summit Materials LLC/Summit Materials Finance Corp. 5.25%, 01/15/2029(c)			34		31,387
TK Elevator Midco GmbH 4.375%, 07/15/2027(c)		EUR	201		184,212
TransDigm UK Holdings PLC 6.875%, 05/15/2026		U.S.$	265		261,205
TransDigm, Inc. 6.25%, 03/15/2026(c)			47		46,726
Triumph Group, Inc. 6.25%, 09/15/2024(c)			37		35,176
7.75%, 08/15/2025(b)			42		36,374
8.875%, 06/01/2024(c)			51		52,511
WESCO Distribution, Inc. 7.25%, 06/15/2028(c)			53		53,720
					1,902,260
Communications - Media – 0.6%
Advantage Sales & Marketing, Inc. 6.50%, 11/15/2028(c)			113		88,503
Altice Financing SA 5.75%, 08/15/2029(c)			279		228,043
AMC Networks, Inc. 4.25%, 02/15/2029			181		134,899
Arches Buyer, Inc. 6.125%, 12/01/2028(b) (c)			39		31,466
Banijay Entertainment SASU 3.50%, 03/01/2025(c)		EUR	150		148,206
CCO Holdings LLC/CCO Holdings Capital Corp. 4.25%, 01/15/2034(c)		U.S.$	111		86,430
4.50%, 08/15/2030(c)			105		88,460
4.75%, 02/01/2032(c)			88		73,545
Clear Channel Outdoor Holdings, Inc. 5.125%, 08/15/2027(c)			25		21,732
CSC Holdings LLC 3.375%, 02/15/2031(c)			200		144,186
DISH DBS Corp. 5.125%, 06/01/2029			53		34,860
5.25%, 12/01/2026(c)			135		115,881
5.75%, 12/01/2028(c)			94		76,599
7.375%, 07/01/2028			98		72,275
DISH Network Corp. 3.375%, 08/15/2026(i)			56		36,260
Gray Escrow II, Inc. 5.375%, 11/15/2031(c)			129		98,402

14

	Principal Amount (000)			U.S. $ Value
iHeartCommunications, Inc. 4.75%, 01/15/2028(c)		U.S.$	35	$	30,160
6.375%, 05/01/2026			22		20,820
8.375%, 05/01/2027(b)			137		121,421
Lamar Media Corp. 4.875%, 01/15/2029			4		3,720
McGraw-Hill Education, Inc. 5.75%, 08/01/2028(c)			139		123,504
8.00%, 08/01/2029(c)			93		78,828
National CineMedia LLC 5.75%, 08/15/2026			33		3,439
5.875%, 04/15/2028(c)			67		23,954
Outfront Media Capital LLC/Outfront Media Capital Corp. 4.625%, 03/15/2030(c)			61		51,482
Sinclair Television Group, Inc. 5.125%, 02/15/2027(b) (c)			150		125,714
5.50%, 03/01/2030(c)			107		81,884
Sirius XM Radio, Inc. 3.875%, 09/01/2031(c)			116		94,799
4.00%, 07/15/2028(c)			292		258,043
Summer BC Holdco B SARL 5.75%, 10/31/2026(c)		EUR	150		138,689
TEGNA, Inc. 4.75%, 03/15/2026(c)		U.S.$	35		34,300
5.00%, 09/15/2029			110		103,223
Univision Communications, Inc. 6.625%, 06/01/2027(c)			144		141,173
7.375%, 06/30/2030(c)			25		24,948
Urban One, Inc. 7.375%, 02/01/2028(c)			203		171,971
					3,111,819
Communications - Telecommunications – 0.3%
Connect Finco SARL/Connect US Finco LLC 6.75%, 10/01/2026(c)			200		188,904
Consolidated Communications, Inc. 5.00%, 10/01/2028(c)			25		18,989
6.50%, 10/01/2028(c)			164		134,921
Embarq Corp. 7.995%, 06/01/2036			180		76,482
Frontier Communications Holdings LLC 5.875%, 10/15/2027(c)			65		61,840
Intelsat Jackson Holdings SA 5.50%, 08/01/2023(a) (d) (e)			177		0
Kaixo Bondco Telecom SA 5.125%, 09/30/2029(c)		EUR	100		89,074
Level 3 Financing, Inc. 4.25%, 07/01/2028(c)		U.S.$	25		19,803
4.625%, 09/15/2027(c)			67		56,823
Telecom Italia Capital SA 7.20%, 07/18/2036			105		87,085

15

	Principal Amount (000)			U.S. $ Value
United Group BV 3.625%, 02/15/2028(c)		EUR	108	$	85,425
4.00%, 11/15/2027(c)			109		87,930
4.625%, 08/15/2028(c)			291		230,288
5.25%, 02/01/2030(c)			185		143,840
Vmed O2 UK Financing I PLC 4.75%, 07/15/2031(c)		U.S.$	200		163,884
					1,445,288
Consumer Cyclical - Automotive – 0.4%
Allison Transmission, Inc. 5.875%, 06/01/2029(c)			60		57,107
Clarios Global LP/Clarios US Finance Co. 6.25%, 05/15/2026(c)			69		68,229
Dana, Inc. 5.375%, 11/15/2027			11		10,126
5.625%, 06/15/2028			17		15,639
Dealer Tire LLC/DT Issuer LLC 8.00%, 02/01/2028(c)			169		145,291
Exide Technologies (Exchange Priority) 11.00%, 10/31/2024(a) (d) (e) (f)			59		0
(First Lien) 11.00%, 10/31/2024(a) (d) (e) (f)			24		0
Faurecia SE 2.75%, 02/15/2027(c)		EUR	219		197,493
Ford Motor Co. 6.10%, 08/19/2032		U.S.$	284		272,572
Goodyear Tire & Rubber Co. (The) 5.00%, 07/15/2029(b)			42		36,322
5.25%, 07/15/2031			39		33,408
IHO Verwaltungs GmbH 3.625% (3.625% Cash or 4.375% PIK), 05/15/2025(c) (h)		EUR	100		97,611
Jaguar Land Rover Automotive PLC 5.875%, 11/15/2024(c)			153		153,979
5.875%, 01/15/2028(c)		U.S.$	200		154,146
Mclaren Finance PLC 7.50%, 08/01/2026(c)			200		162,500
PM General Purchaser LLC 9.50%, 10/01/2028(c)			103		90,094
Real Hero Merger Sub 2, Inc. 6.25%, 02/01/2029(c)			163		112,512
Titan International, Inc. 7.00%, 04/30/2028			108		102,602
ZF North America Capital, Inc. 4.75%, 04/29/2025(c)			161		153,956
					1,863,587

16

	Principal Amount (000)		U.S. $ Value
Consumer Cyclical - Entertainment – 0.2%
Carnival Corp. 4.00%, 08/01/2028(c)	U.S.$	58	$	48,269
5.75%, 03/01/2027(c)		112		83,279
9.875%, 08/01/2027(c)		60		58,579
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Op 5.50%, 05/01/2025(c)		179		178,397
Lindblad Expeditions LLC 6.75%, 02/15/2027(c)		37		34,229
Mattel, Inc. 5.875%, 12/15/2027(c)		15		14,659
NCL Corp., Ltd. 5.875%, 03/15/2026(c)		123		101,709
Royal Caribbean Cruises Ltd. 5.375%, 07/15/2027(c)		112		92,957
5.50%, 08/31/2026(c)		90		78,052
5.50%, 04/01/2028(c)		93		76,097
9.25%, 01/15/2029(c)		83		84,991
11.50%, 06/01/2025(c)		134		143,641
SeaWorld Parks & Entertainment, Inc. 8.75%, 05/01/2025(c)		93		95,272
Six Flags Entertainment Corp. 4.875%, 07/31/2024(c)		30		29,171
Vail Resorts, Inc. 6.25%, 05/15/2025(c)		25		25,098
Viking Cruises Ltd. 5.875%, 09/15/2027(c)		129		108,179
7.00%, 02/15/2029(b) (c)		34		28,984
13.00%, 05/15/2025(c)		35		37,202
VOC Escrow Ltd. 5.00%, 02/15/2028(c)		3		2,585
				1,321,350
Consumer Cyclical - Other – 0.4%
Adams Homes, Inc. 7.50%, 02/15/2025(c)		63		52,557
Beazer Homes USA, Inc. 6.75%, 03/15/2025		46		44,071
Brookfield Residential Properties, Inc./Brookfield Residential US LLC 4.875%, 02/15/2030(c)		113		89,063
6.25%, 09/15/2027(c)		3		2,680
Builders FirstSource, Inc. 6.375%, 06/15/2032(c)		100		92,685
Caesars Entertainment, Inc. 6.25%, 07/01/2025(c)		102		100,641
CP Atlas Buyer, Inc. 7.00%, 12/01/2028(b) (c)		44		32,189
Empire Communities Corp. 7.00%, 12/15/2025(c)		7		6,171

17

	Principal Amount (000)		U.S. $ Value
Everi Holdings, Inc. 5.00%, 07/15/2029(c)	U.S.$	18	$	15,667
Five Point Operating Co. LP/Five Point Capital Corp. 7.875%, 11/15/2025(c)		173		147,105
Hilton Domestic Operating Co., Inc. 3.625%, 02/15/2032(c)		89		73,260
5.375%, 05/01/2025(c)		21		20,853
5.75%, 05/01/2028(c)		22		21,557
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Esc 4.875%, 07/01/2031(c)		72		59,366
5.00%, 06/01/2029(c)		66		57,168
Installed Building Products, Inc. 5.75%, 02/01/2028(c)		31		27,171
Marriott Ownership Resorts, Inc. 6.125%, 09/15/2025(c)		19		18,864
Mattamy Group Corp. 4.625%, 03/01/2030(c)		88		72,626
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp. 5.625%, 09/01/2029(b) (c)		17		13,602
Shea Homes LP / Shea Homes Funding Corp. 4.75%, 02/15/2028		55		47,489
4.75%, 04/01/2029		87		72,200
Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp. 5.875%, 05/15/2025(c)		197		185,562
Taylor Morrison Communities, Inc. 5.75%, 01/15/2028(c)		69		64,503
5.875%, 06/15/2027(c)		3		2,874
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc. 5.625%, 03/01/2024(c)		183		180,926
Travel + Leisure Co. 4.50%, 12/01/2029(c)		126		102,892
4.625%, 03/01/2030(c)		94		76,853
6.625%, 07/31/2026(c)		143		140,343
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 5.25%, 05/15/2027(b) (c)		93		86,140
				1,907,078
Consumer Cyclical - Restaurants – 0.0%
1011778 BC ULC/New Red Finance, Inc. 5.75%, 04/15/2025(c)		53		52,941
Consumer Cyclical - Retailers – 0.4%
Arko Corp. 5.125%, 11/15/2029(c)		46		36,939
Asbury Automotive Group, Inc. 4.625%, 11/15/2029(c)		60		52,347
5.00%, 02/15/2032(c)		24		20,296

18

	Principal Amount (000)			U.S. $ Value
Bath & Body Works, Inc. 5.25%, 02/01/2028		U.S.$	13	$	12,058
6.625%, 10/01/2030(c)			129		120,923
6.75%, 07/01/2036			58		50,931
6.875%, 11/01/2035			131		118,535
6.95%, 03/01/2033			69		59,881
7.50%, 06/15/2029(b)			13		13,041
9.375%, 07/01/2025(c)			32		33,814
BCPE Ulysses Intermediate, Inc. 7.75% (7.75% Cash or 8.50% PIK), 04/01/2027(c) (h)			48		31,668
Carvana Co. 5.50%, 04/15/2027(c)			14		5,041
5.875%, 10/01/2028(c)			37		12,971
Dufry One BV 2.50%, 10/15/2024(c)		EUR	143		144,946
Edcon Ltd. 0.01%, 06/25/2023(e)		ZAR	2		0
FirstCash, Inc. 4.625%, 09/01/2028(c)		U.S.$	22		19,458
5.625%, 01/01/2030(c)			93		84,555
Foundation Building Materials, Inc. 6.00%, 03/01/2029(c)			24		17,981
Kontoor Brands, Inc. 4.125%, 11/15/2029(c)			90		74,420
LBM Acquisition LLC 6.25%, 01/15/2029(c)			20		13,745
Michaels Cos, Inc. (The) 7.875%, 05/01/2029(c)			144		85,127
Murphy Oil USA, Inc. 5.625%, 05/01/2027			6		5,471
NMG Holding Co., Inc./Neiman Marcus Group LLC 7.125%, 04/01/2026(c)			60		57,733
PetSmart, Inc./PetSmart Finance Corp. 7.75%, 02/15/2029(c)			271		252,312
Rite Aid Corp. 7.50%, 07/01/2025(c)			105		77,709
8.00%, 11/15/2026(c)			109		67,128
Specialty Building Products Holdings LLC/SBP Finance Corp. 6.375%, 09/30/2026(c)			90		75,309
SRS Distribution, Inc. 6.125%, 07/01/2029(c)			29		24,067
Staples, Inc. 7.50%, 04/15/2026(c)			228		203,358
TPro Acquisition Corp. 11.00%, 10/15/2024(c)			36		35,981
White Cap Buyer LLC 6.875%, 10/15/2028(c)			151		130,700
White Cap Parent LLC 8.25%, 03/15/2026(c) (h)			29		24,894
					1,963,339

19

	Principal Amount (000)			U.S. $ Value
Consumer Non-Cyclical – 0.4%
Acadia Healthcare Co., Inc. 5.50%, 07/01/2028(c)		U.S.$	88	$	82,916
AdaptHealth LLC 6.125%, 08/01/2028(c)			25		23,077
AHP Health Partners, Inc. 5.75%, 07/15/2029(c)			83		65,782
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC 3.25%, 03/15/2026(c)			184		166,982
Bausch Health Cos., Inc. 4.875%, 06/01/2028(c)			173		105,992
6.25%, 02/15/2029(c)			7		2,959
7.25%, 05/30/2029(c)			48		20,294
CD&R Smokey Buyer, Inc. 6.75%, 07/15/2025(c)			8		7,150
CHS/Community Health Systems, Inc. 4.75%, 02/15/2031(c)			27		19,828
6.125%, 04/01/2030(c)			91		46,424
6.875%, 04/15/2029(c)			205		109,612
6.875%, 04/01/2028(c)			53		25,462
Darling Ingredients, Inc. 6.00%, 06/15/2030(c)			47		46,045
DaVita, Inc. 3.75%, 02/15/203(c)			45		33,048
Emergent BioSolutions, Inc. 3.875%, 08/15/2028(c)			13		5,850
Garden Spinco Corp. 8.625%, 07/20/2030(c)			71		75,867
Global Medical Response, Inc. 6.50%, 10/01/2025(c)			103		77,729
Grifols Escrow Issuer SA 4.75%, 10/15/2028(c)			200		167,306
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. 7.00%, 12/31/2027(c)			132		109,652
Legacy LifePoint Health LLC 4.375%, 02/15/2027(c)			67		56,128
Mallinckrodt International Finance SA/Mallinckrodt CB LLC 10.00%, 06/15/2029(c)			6		3,110
Medline Borrower LP 3.875%, 04/01/2029(c)			93		79,942
5.25%, 10/01/2029(c)			167		136,138
ModivCare Escrow Issuer, Inc. 5.00%, 10/01/2029(c)			17		14,294
ModivCare, Inc. 5.875%, 11/15/2025(c)			17		15,724

20

	Principal Amount (000)		U.S. $ Value
Option Care Health, Inc. 4.375%, 10/31/2029(c)	U.S.$	85	$	72,468
Post Holdings, Inc. 5.50%, 12/15/2029(c)		131		120,420
RP Escrow Issuer LLC 5.25%, 12/15/2025(c)		45		37,696
Spectrum Brands, Inc. 3.875%, 03/15/2031(c)		175		133,044
5.75%, 07/15/2025		2		1,976
Tenet Healthcare Corp. 6.125%, 10/01/2028(c)		65		57,336
6.125%, 06/15/2030(c)		39		36,969
Triton Water Holdings, Inc. 6.25%, 04/01/2029 (c)		65		50,622
US Acute Care Solutions LLC 6.375%, 03/01/2026(c)		59		53,531
US Renal Care, Inc. 10.625%, 07/15/2027(c)		66		26,452
				2,087,825
Energy – 0.6%
Berry Petroleum Co. LLC 7.00%, 02/15/2026(c)		58		54,855
Blue Racer Midstream LLC/Blue Racer Finance Corp. 7.625%, 12/15/2025(c)		37		37,332
Callon Petroleum Co. 8.25%, 07/15/2025		169		168,630
Citgo Holding, Inc. 9.25%, 08/01/2024(c)		50		50,250
CITGO Petroleum Corp. 6.375%, 06/15/2026(c)		43		42,206
7.00%, 06/15/2025(c)		152		149,854
Civitas Resources, Inc. 5.00%, 10/15/2026(c)		23		21,186
CNX Resources Corp. 6.00%, 01/15/2029(c)		47		44,209
7.25%, 03/14/2027(c)		2		1,993
Comstock Resources, Inc. 6.75%, 03/01/2029(c)		36		34,839
Crescent Energy Finance LLC 7.25%, 05/01/2026(c)		56		54,056
Diamond Foreign Asset Co./Diamond Finance LLC 13.00% (9.00% Cash or 13.00% PIK), 04/22/2027(h)		26		23,818
Encino Acquisition Partners Holdings LLC 8.50%, 05/01/2028(c)		90		86,341
EnLink Midstream LLC 5.625%, 01/15/2028(c)		74		71,726
EnLink Midstream Partners LP 4.15%, 06/01/2025		72		68,802
5.05%, 04/01/2045		49		37,253

21

	Principal Amount (000)		U.S. $ Value
5.45%, 06/01/2047	U.S.$	39	$	31,654
5.60%, 04/01/2044		10		8,310
EQM Midstream Partners LP 4.50%, 01/15/2029(c)		73		64,124
4.75%, 01/15/2031(c)		70		59,641
Genesis Energy LP/Genesis Energy Finance Corp. 5.625%, 06/15/2024		51		49,551
6.25%, 05/15/2026		47		43,805
6.50%, 10/01/2025		21		20,256
7.75%, 02/01/2028		84		80,153
8.00%, 01/15/2027		38		36,419
Global Partners LP/GLP Finance Corp. 6.875%, 01/15/2029		38		34,309
7.00%, 08/01/2027		43		40,832
Gulfport Energy Corp. 6.00%, 10/15/2024(a)		62		77
6.375%, 05/15/2025(a)		71		89
6.375%, 01/15/2026(a)		208		260
6.625%, 05/01/2023(a)		12		15
8.00%, 05/17/2026(c)		53		52,678
Hess Midstream Operations LP 4.25%, 02/15/2030(c)		14		12,023
Hilcorp Energy I LP/Hilcorp Finance Co. 5.75%, 02/01/2029(c)		21		19,270
6.00%, 02/01/2031(c)		30		27,550
ITT Holdings LLC 6.50%, 08/01/2029(c)		145		124,520
Murphy Oil Corp. 6.125%, 12/01/2042		51		39,624
Nabors Industries Ltd. 7.25%, 01/15/2026(c)		43		41,310
7.50%, 01/15/2028(c)		117		106,944
New Fortress Energy, Inc. 6.75%, 09/15/2025(c)		102		99,574
NGL Energy Operating LLC/NGL Energy Finance Corp. 7.50%, 02/01/2026(c)		149		134,450
Occidental Petroleum Corp. 5.50%, 12/01/2025		12		11,970
5.875%, 09/01/2025		22		22,209
6.125%, 01/01/2031		15		15,226
8.50%, 07/15/2027		26		28,325
8.875%, 07/15/2030		26		29,757
PDC Energy, Inc. 5.75%, 05/15/2026		163		155,737
Southwestern Energy Co. 5.375%, 02/01/2029		78		73,648
Summit Midstream Holdings LLC/Summit Midstream Finance Corp. 8.50%, 10/15/2026(c)		61		58,720
Sunnova Energy Corp. 5.875%, 09/01/2026(c)		30		26,844

22

	Principal Amount (000)		U.S. $ Value
Sunoco LP/Sunoco Finance Corp. 5.875%, 03/15/2028	U.S.$	129	$	123,899
6.00%, 04/15/2027		4		3,961
Talos Production, Inc. 12.00%, 01/15/2026		29		30,568
Transocean Phoenix 2 Ltd. 7.75%, 10/15/2024(c)		60		60,018
Transocean Pontus Ltd. 6.125%, 08/01/2025(c)		36		35,425
Transocean Sentry Ltd. 5.375%, 05/15/2023(c)		99		98,273
Transocean, Inc. 6.80%, 03/15/2038		1		524
				2,849,892
Other Industrial – 0.0%
Interface, Inc. 5.50%, 12/01/2028(c)		22		17,894
Services – 0.5%
Allied Universal Holdco LLC/Allied Universal Finance Corp. 6.625%, 07/15/2026(c)		31		29,460
9.75%, 07/15/2027(c)		206		185,839
ANGI Group LLC 3.875%, 08/15/2028(b) (c)		209		157,049
Aptim Corp. 7.75%, 06/15/2025(c)		161		113,763
APX Group, Inc. 5.75%, 07/15/2029(b) (c)		209		178,055
6.75%, 02/15/2027(c)		35		34,703
Aramark Services, Inc. 6.375%, 05/01/2025(c)		90		89,797
Cars.com, Inc. 6.375%, 11/01/2028(c)		70		61,676
Garda World Security Corp. 6.00%, 06/01/2029(c)		182		146,257
9.50%, 11/01/2027(c)		215		199,215
Gartner, Inc. 4.50%, 07/01/2028(c)		49		46,110
Korn Ferry 4.625%, 12/15/2027(c)		63		57,593
Millennium Escrow Corp. 6.625%, 08/01/2026(c)		140		100,743
MoneyGram International, Inc. 5.375%, 08/01/2026(c)		62		62,621
Monitronics International, Inc. 9.125%, 04/01/2020(a) (d) (e) (g)		120		0
MPH Acquisition Holdings LLC 5.50%, 09/01/2028(c)		77		61,519
5.75%, 11/01/2028(b) (c)		287		204,723
Neptune Bidco US, Inc. 9.29%, 04/15/2029(c)		204		196,438

23

	Principal Amount (000)		U.S. $ Value
Prime Security Services Borrower LLC/Prime Finance, Inc. 6.25%, 01/15/2028(c)	U.S.$	247	$	230,515
Sabre GLBL, Inc. 7.375%, 09/01/2025(c)		88		83,838
9.25%, 04/15/2025(c)		41		40,872
11.25%, 12/15/2027(c)		80		82,034
TripAdvisor, Inc. 7.00%, 07/15/2025(c)		41		40,662
Verscend Escrow Corp. 9.75%, 08/15/2026(c)		115		115,138
ZipRecruiter, Inc. 5.00%, 01/15/2030(c)		131		107,056
				2,625,676
Technology – 0.3%
Ahead DB Holdings LLC 6.625%, 05/01/2028(c)		95		77,419
Avaya, Inc. 6.125%, 09/15/2028(c)		106		46,753
Boxer Parent Co., Inc. 7.125%, 10/02/2025(c)		7		6,832
Cablevision Lightpath LLC 5.625%, 09/15/2028(c)		200		154,148
Clarivate Science Holdings Corp. 4.875%, 07/01/2029(b) (c)		41		35,117
CommScope, Inc. 4.75%, 09/01/2029(c)		92		77,474
Entegris Escrow Corp. 5.95%, 06/15/2030(c)		59		55,546
GoTo Group, Inc. 5.50%, 09/01/2027(c)		51		29,836
NCR Corp. 5.125%, 04/15/2029(c)		102		87,757
5.75%, 09/01/2027(c)		43		41,813
6.125%, 09/01/2029(c)		28		27,179
NortonLifeLock, Inc. 6.75%, 09/30/2027(c)		85		85,363
7.125%, 09/30/2030(c)		85		85,681
Playtika Holding Corp. 4.25%, 03/15/2029(c)		90		72,960
Presidio Holdings, Inc. 4.875%, 02/01/2027(c)		12		11,206
8.25%, 02/01/2028(c)		172		156,274
Veritas US, Inc./Veritas Bermuda Ltd. 7.50%, 09/01/2025(c)		316		225,880
Virtusa Corp. 7.125%, 12/15/2028(c)		66		49,539
				1,326,777

24

	Principal Amount (000)			U.S. $ Value
Transportation - Airlines – 0.1%
Air Canada 3.875%, 08/15/2026(c)		U.S.$	29	$	26,534
Allegiant Travel Co. 7.25%, 08/15/2027(c)			47		45,462
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.50%, 04/20/2026(c)			101		98,166
5.75%, 04/20/2029(c)			88		82,174
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. 5.75%, 01/20/2026(c)			47		44,233
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd. 8.00%, 09/20/2025(c)			162		163,778
					460,347
Transportation - Services – 0.1%
Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 5.375%, 03/01/2029(b) (c)			45		39,767
5.75%, 07/15/2027(b) (c)			80		74,124
Hertz Corp. (The) 4.625%, 12/01/2026(c)			126		109,379
PROG Holdings, Inc. 6.00%, 11/15/2029(c)			85		74,195
					297,465
					24,583,268
Financial Institutions – 0.7%
Banking – 0.2%
Ally Financial, Inc. Series C 4.70%, 05/15/2028(j)			19		12,620
Bread Financial Holdings, Inc. 4.75%, 12/15/2024(c)			115		100,403
7.00%, 01/15/2026(c)			53		45,727
CaixaBank SA 5.875%, 10/09/2027(c) (j)		EUR	200		193,972
Credit Suisse Group AG 6.25%, 12/18/2024(c) (j)		U.S.$	200		150,282
Discover Financial Services Series D 6.125%, 06/23/2025(j)			244		238,171
					741,175
Brokerage – 0.1%
Advisor Group Holdings, Inc. 10.75%, 08/01/2027(c)			83		84,550
AG TTMT Escrow Issuer LLC 8.625%, 09/30/2027(c)			122		123,310
Hightower Holding LLC 6.75%, 04/15/2029(c)			270		224,111

25

	Principal Amount (000)			U.S. $ Value
NFP Corp. 6.875%, 08/15/2028(c)		U.S.$	257	$	217,404
7.50%, 10/01/2030(c)			70		67,321
					716,696
Finance – 0.2%
Aircastle Ltd. 5.25%, 06/15/2026(c) (j)			97		72,399
Castlelake Aviation Finance DAC 5.00%, 04/15/2027(c)			46		39,289
CNG Holdings, Inc. 12.50%, 06/15/2024(c)			93		78,686
Compass Group Diversified Holdings LLC 5.25%, 04/15/2029(c)			81		70,772
Curo Group Holdings Corp. 7.50%, 08/01/2028(c)			177		72,561
Enova International, Inc. 8.50%, 09/01/2024(c)			45		43,257
8.50%, 09/15/2025(c)			161		149,633
goeasy Ltd. 5.375%, 12/01/2024(c)			74		70,435
Lincoln Financing SARL 3.625%, 04/01/2024(c)		EUR	103		105,369
Navient Corp. 4.875%, 03/15/2028		U.S.$	45		36,764
5.50%, 01/25/2023			25		24,951
					764,116
Insurance – 0.0%
Acrisure LLC/Acrisure Finance, Inc. 6.00%, 08/01/2029(c)			242		193,731
7.00%, 11/15/2025(c)			35		32,901
AmWINS Group, Inc. 4.875%, 06/30/2029(c)			20		17,405
					244,037
Other Finance – 0.1%
Armor Holdco, Inc. 8.50%, 11/15/2029(c)			87		65,482
Coinbase Global, Inc. 3.625%, 10/01/2031(c)			116		62,584
Intrum AB 3.00%, 09/15/2027(c)		EUR	100		80,995
4.875%, 08/15/2025(c)			100		93,295
					302,356
REITs – 0.1%
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LL 4.50%, 04/01/2027(c)		U.S.$	153		134,695
5.75%, 05/15/2026(c)			51		49,083

26

	Principal Amount (000)			U.S. $ Value
Diversified Healthcare Trust 9.75%, 06/15/2025		U.S.$	45	$	43,815
Iron Mountain, Inc. 4.875%, 09/15/2027(c)			3		2,822
4.875%, 09/15/2029(c)			69		60,948
5.00%, 07/15/2028(c)			53		48,621
5.25%, 03/15/2028(c)			124		116,019
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer 4.875%, 05/15/2029(c)			49		41,896
					497,899
					3,266,279
Utility – 0.0%
Electric – 0.0%
Calpine Corp. 5.125%, 03/15/2028(c)			28		25,215
Vistra Corp. 7.00%, 12/15/2026(c) (j)			70		62,859
8.00%, 10/15/2026(c) (j)			78		74,592
					162,666
Natural Gas – 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp. 5.875%, 08/20/2026			11		10,543
Other Utility – 0.0%
Solaris Midstream Holdings LLC 7.625%, 04/01/2026(c)			60		59,448
					232,657
Total Corporates - Non-Investment Grade (cost $32,509,939)					28,082,204
GOVERNMENTS - TREASURIES – 3.6%
United States – 3.6%
U.S. Treasury Bonds 1.25%, 05/15/2050			14		7,742
U.S. Treasury Notes 0.625%, 08/15/2030(k)			2,130		1,696,331
1.25%, 05/31/2028(k)			4,020		3,504,937
1.625%, 08/15/2029(k) (l)			2,556		2,238,098
1.875%, 02/15/2032			678		581,874
2.375%, 05/15/2029(k)			1,524		1,398,801
2.625%, 05/31/2027			4,890		4,634,708
2.875%, 05/15/2032			1,342		1,253,466
3.00%, 07/31/2024			1,232		1,202,065
4.125%, 10/31/2027			198		199,924
4.375%, 10/31/2024			1,150		1,149,102
Total Governments - Treasuries (cost $19,562,615)					17,867,048

27

			Shares		U.S. $ Value
INVESTMENT COMPANIES – 2.3%
Funds and Investment Trusts – 2.3%(m)
Consumer Staples Select Sector SPDR Fund				6,660	$	514,085
Financial Select Sector SPDR Fund				13,300		482,923
Health Care Select Sector SPDR Fund(b)				65,294		9,077,172
Invesco S&P 500 Equal Weight Consumer Discretionary ETF				2,080		261,872
iShares 10-20 Year Treasury Bond ETF(b)				1,741		192,763
iShares Russell 2000 ETF(b)				591		110,736
iShares US Technology ETF(b)				8,545		695,734
Total Investment Companies (cost $10,766,000)						11,335,285
	Principal Amount (000)
CORPORATES - INVESTMENT GRADE – 1.6%
Financial Institutions – 1.0%
Banking – 0.6%
Ally Financial, Inc. Series B 4.70%, 05/15/2026(j)		U.S.$		272		197,904
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand 5.375%, 04/17/2025(c)				184		181,930
Banco Santander SA 4.175%, 03/24/2028				200		184,644
Bank of America Corp. Series Z 6.50%, 10/23/2024(j)				2		1,978
Barclays PLC 8.00%, 03/15/2029(j)				200		188,500
BNP Paribas SA 4.625%, 02/25/2031(c) (j)				283		214,972
Citigroup, Inc. 3.875%, 02/18/2026(j)				50		41,773
5.95%, 01/30/2023(j)				280		277,469
Series V 4.70%, 01/30/2025(j)				47		39,517
Series Y 4.15%, 11/15/2026(j)				65		52,577
Credit Agricole SA 8.125%, 12/23/2025(c) (j)				400		406,588
First-Citizens Bank & Trust Co. 3.929%, 06/19/2024				31		30,650
Goldman Sachs Group, Inc. (The) Series P 7.466% (LIBOR 3 Month + 2.87%), 01/03/2023(j) (n)				89		86,324
HSBC Holdings PLC 6.00%, 09/29/2023(c) (j)		EUR		300		309,767

28

	Principal Amount (000)			U.S. $ Value
Truist Financial Corp. Series Q 5.10%, 03/01/2030(j)		U.S.$	273	$	244,840
UBS Group AG 7.00%, 02/19/2025(c) (j)			400		396,108
					2,855,541
Brokerage – 0.0%
Charles Schwab Corp. (The) Series G 5.375%, 06/01/2025(j)			70		68,549
Finance – 0.1%
Air Lease Corp. Series B 4.65%, 06/15/2026(j)			112		94,993
Aircastle Ltd. 2.85%, 01/26/2028(c)			15		12,204
4.125%, 05/01/2024			14		13,499
4.25%, 06/15/2026			2		1,865
5.00%, 04/01/2023			3		2,989
5.25%, 08/11/2025(c)			200		191,678
Aviation Capital Group LLC 1.95%, 01/30/2026(c)			4		3,496
3.50%, 11/01/2027(c)			25		21,516
4.125%, 08/01/2025(c)			39		36,252
4.875%, 10/01/2025(c)			30		28,279
5.50%, 12/15/2024(c)			67		65,729
Huarong Finance II Co., Ltd. 5.50%, 01/16/2025(c)			200		185,662
					658,162
Insurance – 0.2%
Liberty Mutual Group, Inc. 7.80%, 03/15/2037(c)			271		297,334
MetLife Capital Trust IV 7.875%, 12/15/2037(c)			254		268,166
MetLife, Inc. 6.40%, 12/15/2036			5		4,728
Prudential Financial, Inc. 5.20%, 03/15/2044			44		41,877
5.625%, 06/15/2043			126		124,693
					736,798
REITs – 0.1%
GLP Capital LP/GLP Financing II, Inc. 5.375%, 04/15/2026			20		19,435
MPT Operating Partnership LP/MPT Finance Corp. 5.00%, 10/15/2027(b)			33		28,154
Trust Fibra Uno 4.869%, 01/15/2030(c)			200		165,412

29

	Principal Amount (000)			U.S. $ Value
VICI Properties LP/VICI Note Co., Inc. 5.625%, 05/01/2024(c)		U.S.$	90	$	89,296
5.75%, 02/01/2027(c)			108		105,249
					407,546
					4,726,596
Industrial – 0.6%
Basic – 0.1%
ArcelorMittal SA 6.75%, 03/01/2041			54		53,046
Arconic Corp. 6.00%, 05/15/2025(c)			54		53,277
Braskem Netherlands Finance BV 4.50%, 01/31/2030(c)			200		169,500
Celanese US Holdings LLC 5.90%, 07/05/2024			33		32,803
6.05%, 03/15/2025			33		32,841
CF Industries, Inc. 4.95%, 06/01/2043			3		2,614
Industrias Penoles SAB de CV 5.65%, 09/12/2049(c)			201		178,425
					522,506
Capital Goods – 0.0%
General Electric Co. Series D 6.623% (LIBOR 3 Month + 3.33%), 03/15/2023(j) (n)			122		117,163
Communications - Media – 0.1%
Directv Financing LLC/Directv Financing Co-Obligor, Inc. 5.875%, 08/15/2027(c)			56		51,374
Netflix, Inc. 5.875%, 11/15/2028			168		171,246
Warnermedia Holdings, Inc. 3.755%, 03/15/2027(c)			5		4,556
4.279%, 03/15/2032(c)			8		6,798
					233,974
Communications - Telecommunications – 0.0%
Hughes Satellite Systems Corp. 5.25%, 08/01/2026			55		52,835
Consumer Cyclical - Automotive – 0.0%
General Motors Co. 6.25%, 10/02/2043			17		16,397
Lear Corp. 4.25%, 05/15/2029			3		2,730
					19,127
Consumer Cyclical - Other – 0.1%
MDC Holdings, Inc. 6.00%, 01/15/2043			195		157,188

30

	Principal Amount (000)			U.S. $ Value
Resorts World Las Vegas LLC/RWLV Capital, Inc. 4.625%, 04/16/2029(c)		U.S.$	200	$	137,808
Toll Brothers Finance Corp. 4.875%, 03/15/2027			3		2,747
					297,743
Consumer Cyclical - Retailers – 0.0%
Macy’s Retail Holdings LLC 5.875%, 03/15/2030(c)			24		21,666
6.125%, 03/15/2032(c)			21		18,332
					39,998
Consumer Non-Cyclical – 0.0%
Newell Brands, Inc. 6.375%, 09/15/2027			69		67,869
6.625%, 09/15/2029(b)			69		68,078
					135,947
Energy – 0.1%
Antero Resources Corp. 7.625%, 02/01/2029(c)			15		15,346
Apache Corp. 4.25%, 01/15/2030			50		44,969
Cenovus Energy, Inc. 6.75%, 11/15/2039			3		2,687
Continental Resources, Inc./OK 5.75%, 01/15/2031(c)			82		77,553
Ecopetrol SA 4.625%, 11/02/2031			46		34,693
5.875%, 11/02/2051			39		25,779
6.875%, 04/29/2030			93		83,142
Energy Transfer LP 4.40%, 03/15/2027			12		11,488
4.95%, 05/15/2028			3		2,895
6.125%, 12/15/2045			135		127,855
Plains All American Pipeline LP/PAA Finance Corp. 4.50%, 12/15/2026			3		2,895
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 4.00%, 01/15/2032			17		14,574
Western Midstream Operating LP 3.95%, 06/01/2025			18		17,297
4.30%, 02/01/2030			48		42,889
4.50%, 03/01/2028			56		52,486
4.75%, 08/15/2028			29		27,161
5.45%, 04/01/2044			19		15,866
					599,575
Services – 0.0%
Expedia Group, Inc. 6.25%, 05/01/2025(c)			3		3,038

31

	Principal Amount (000)			U.S. $ Value
Technology – 0.1%
Baidu, Inc. 3.075%, 04/07/2025(b)		U.S.$	250	$	235,627
CDW LLC/CDW Finance Corp. 4.125%, 05/01/2025			6		5,761
Microchip Technology, Inc. 4.25%, 09/01/2025			58		56,336
Western Digital Corp. 3.10%, 02/01/2032			16		11,891
4.75%, 02/15/2026			10		9,417
					319,032
Transportation - Airlines – 0.1%
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.75%, 10/20/2028(c)			67		63,483
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd. 6.50%, 06/20/2027(c)			336		333,132
					396,615
					2,737,553
Utility – 0.0%
Electric – 0.0%
Israel Electric Corp., Ltd. Series 6 5.00%, 11/12/2024(c)			200		197,000
Total Corporates - Investment Grade (cost $8,260,614)					7,661,149
EMERGING MARKETS - SOVEREIGNS – 0.9%
Angola – 0.1%
Angolan Government International Bond 9.375%, 05/08/2048(c)			200		165,750
9.50%, 11/12/2025(c)			386		393,237
					558,987
Argentina – 0.0%
Argentine Republic Government International Bond 0.50%, 07/09/2030			307		81,077
1.00%, 07/09/2029			96		24,866
1.50%, 07/09/2035			62		15,058
3.50%, 07/09/2041			52		14,342
					135,343
Bahrain – 0.1%
Bahrain Government International Bond 7.00%, 10/12/2028(c)			200		200,663
7.375%, 05/14/2030(c)			200		203,225
					403,888

32

	Principal Amount (000)			U.S. $ Value
Dominican Republic – 0.1%
Dominican Republic International Bond 8.625%, 04/20/2027(c)		U.S.$	425	$	441,150
Ecuador – 0.1%
Ecuador Government International Bond 1.50%, 07/31/2040(c)			200		79,192
2.50%, 07/31/2035(c)			484		210,660
5.50%, 07/31/2030(c)			166		100,707
					390,559
El Salvador – 0.0%
El Salvador Government International Bond 7.625%, 02/01/2041(c)			334		121,075
Gabon – 0.1%
Gabon Government International Bond 6.625%, 02/06/2031(c)			200		164,788
Ivory Coast – 0.1%
Ivory Coast Government International Bond 4.875%, 01/30/2032(c)		EUR	471		384,378
5.125%, 06/15/2025(c)			152		149,848
5.875%, 10/17/2031(c)			135		117,240
					651,466
Lebanon – 0.0%
Lebanon Government International Bond 6.60%, 11/27/2026(a) (c) (o)		U.S.$	189		10,607
6.65%, 04/22/2024(a) (c) (o)			45		2,610
6.85%, 03/23/2027(a) (c) (o)			46		2,582
					15,799
Nigeria – 0.0%
Nigeria Government International Bond 7.625%, 11/28/2047(c)			200		131,500
Oman – 0.1%
Oman Government International Bond 6.25%, 01/25/2031(c)			213		212,201
Senegal – 0.1%
Senegal Government International Bond 6.25%, 05/23/2033(c)			365		303,931
South Africa – 0.1%
Republic of South Africa Government International Bond 5.75%, 09/30/2049			247		187,720
5.875%, 09/16/2025			300		301,650
					489,370

33

	Principal Amount (000)			U.S. $ Value
Ukraine – 0.0%
Ukraine Government International Bond 7.75%, 09/01/2025(c)		100			24,925
7.75%, 09/01/2026(c)	U.S.$	285		$	64,089
7.75%, 09/01/2029(c)		188			44,157
					133,171
Venezuela – 0.0%
Venezuela Government International Bond 9.25%, 09/15/2027(a) (o)		815			67,238
Total Emerging Markets - Sovereigns (cost $6,109,486)					4,220,466
BANK LOANS – 0.8%
Financial Institutions – 0.1%
Finance – 0.0%
Orbit Private Holdings I Ltd. 8.174% (LIBOR 3 Month + 4.50%), 12/11/2028(e) (p)		20			19,528
Insurance – 0.1%
Hub International Limited 7.232% (LIBOR 3 Month + 3.25%), 04/25/2025(p)		0	**		303
7.528% (LIBOR 3 Month + 3.25%), 04/25/2025(p)		121			118,711
Sedgwick Claims Management Services, Inc. (Lightning Cayman Merger Sub, Ltd.) 7.821% (LIBOR 1 Month + 3.75%), 09/03/2026(p)		145			141,271
					260,285
					279,813
Industrial – 0.7%
Capital Goods – 0.1%
ACProducts Holdings, Inc. 7.127% (LIBOR 3 Month + 4.25%), 05/17/2028(p)		136			98,366
7.924% (LIBOR 3 Month + 4.25%), 05/17/2028(p)		45			32,457
Chariot Buyer LLC 7.571% (LIBOR 1 Month + 3.50%), 11/03/2028(p)		20			18,554
Granite US Holdings Corporation 7.688% (LIBOR 3 Month + 4.00%), 09/30/2026(e) (p)		161			160,573
					309,950
Communications - Media – 0.1%
Advantage Sales & Marketing, Inc. 8.284% (LIBOR 3 Month + 4.50%), 10/28/2027(p)		147			118,232

34

	Principal Amount (000)				U.S. $ Value
Clear Channel Outdoor Holdings, Inc. 7.571% (LIBOR 1 Month + 3.50%), 08/21/2026(p)		U.S.$	0	**	$	80
7.915% (LIBOR 3 Month + 3.50%), 08/21/2026(p)			34			31,135
iHeartCommunications, Inc. (fka Clear Channel Communications, Inc.) 7.071% (LIBOR 1 Month + 3.00%), 05/01/2026(p)			35			33,197
Univision Communications, Inc. 6.821% (LIBOR 1 Month + 2.75%), 03/15/2024(p)			18			18,141
						200,785
Communications - Telecommunications – 0.1%
Crown Subsea Communications Holding, Inc. 8.870% (LIBOR 1 Month + 4.75%), 04/27/2027(p)			128			124,934
Intrado Corporation (West Corp/Olympus Merger) 8.415% (LIBOR 3 Month + 4.00%), 10/10/2024(p)			127			115,930
Proofpoint, Inc. 9.320% (LIBOR 3 Month + 6.25%), 08/31/2029(p)			230			219,650
Zacapa SARL 7.803% (SOFR 3 Month + 4.25%), 03/22/2029(p)			196			188,505
						649,019
Consumer Cyclical - Automotive – 0.0%
Clarios Global LP 7.321% (LIBOR 1 Month + 3.25%), 04/30/2026(p)			51			49,835
Consumer Cyclical - Other – 0.0%
Caesars Resort Collection, LLC 6.821% (LIBOR 1 Month + 2.75%), 12/23/2024(p)			145			143,708
Consumer Cyclical - Retailers – 0.0%
Great Outdoors Group, LLC 7.821% (LIBOR 1 Month + 3.75%), 03/06/2028(p)			51			48,949
Restoration Hardware, Inc. 7.437% (SOFR 1 Month + 3.25%), 10/20/2028(p)			60			56,569
						105,518
Consumer Non-Cyclical – 0.1%
Kronos Acquisition Holdings, Inc. 8.485% (LIBOR 3 Month + 3.75%), 12/22/2026(p)			79			74,466

35

	Principal Amount (000)		U.S. $ Value
LifePoint Health, Inc. (fka Regionalcare Hospital Partners Holdings, Inc.) 8.165% (LIBOR 3 Month + 3.75%), 11/16/2025(p)	U.S$	96	$	88,620
Padagis LLC 8.491% (LIBOR 3 Month + 4.75%), 07/06/2028(e) (p)		47		39,294
PetSmart LLC 7.820% (LIBOR 1 Month + 3.75%), 02/11/2028(p)		198		189,529
US Radiology Specialists, Inc. (US Outpatient Imaging Services, Inc.) (US Outpatient Imaging Services, Inc.) 8.924% (LIBOR 3 Month + 5.25%), 12/15/2027(p)		167		151,102
				543,011
Energy – 0.1%
CITGO Petroleum Corporation 10.321% (LIBOR 1 Month + 6.25%), 03/28/2024(p)		54		53,954
GIP II Blue Holding, L.P. 8.174% (LIBOR 3 Month + 4.50%), 09/29/2028(p)		119		118,333
Parkway Generation, LLC 8.500% (LIBOR 1 Month + 4.75%), 02/18/2029(p)		80		78,256
				250,543
Other Industrial – 0.0%
American Tire Distributors, Inc. 10.608% (LIBOR 3 Month + 6.25%), 10/20/2028(p)		94		85,918
Dealer Tire, LLC 8.321% (LIBOR 1 Month + 4.25%), 12/12/2025(p)		39		38,336
Rockwood Service Corporation 8.321% (LIBOR 1 Month + 4.25%), 01/23/2027(p)		9		8,882
				133,136
Services – 0.0%
Amentum Government Services Holdings LLC 7.674% (LIBOR 3 Month + 4.00%), 01/29/2027(p)		29		28,918
8.170% (LIBOR 3 Month + 4.00%), 01/29/2027(p)		10		9,596
Verscend Holding Corp. 8.071% (LIBOR 1 Month + 4.00%), 08/27/2025(p)		88		86,768
				125,282

36

	Principal Amount (000)		U.S. $ Value
Technology – 0.2%
Ascend Learning, LLC 9.821% (LIBOR 1 Month + 5.75%), 12/10/2029(p)	U.S.$	60	$	50,850
Banff Guarantor, Inc. 9.571% (LIBOR 1 Month + 5.50%), 02/27/2026(p)		40		36,693
Boxer Parent Company, Inc. 7.821% (LIBOR 1 Month + 3.75%), 10/02/2025(p)		162		155,385
Endurance International Group Holdings, Inc. 7.347% (LIBOR 1 Month + 3.50%), 02/10/2028(p)		176		158,841
FINThrive Software Intermediate Holdings, Inc. 10.821% (LIBOR 1 Month + 6.75%), 12/17/2029(p)		40		33,750
Loyalty Ventures, Inc. 8.571% (LIBOR 1 Month + 4.50%), 11/03/2027(p)		147		58,138
Peraton Corp. 7.821% (LIBOR 1 Month + 3.75%), 02/01/2028(p)		64		62,533
Presidio Holdings, Inc. 7.580% (LIBOR 1 Month + 3.50%), 01/22/2027(e) (p)		2		1,770
7.920% (LIBOR 3 Month + 3.50%), 01/22/2027(e) (p)		40		39,925
Veritas US, Inc. 8.674% (LIBOR 3 Month + 5.00%), 09/01/2025(p)		220		157,671
				755,556
				3,266,343
Utility – 0.0%
Electric – 0.0%
Granite Generation LLC 7.821% (LIBOR 1 Month + 3.75%), 11/09/2026(p)		194		188,806
Total Bank Loans (cost $4,085,639)				3,734,962
EMERGING MARKETS - CORPORATE BONDS – 0.7%
Industrial – 0.6%
Basic – 0.2%
Braskem Idesa SAPI 7.45%, 11/15/2029(c)		200		156,625
CSN Inova Ventures 6.75%, 01/28/2028(b) (c)		219		207,229
Eldorado Gold Corp. 6.25%, 09/01/2029(b) (c)		46		38,238

37

	Principal Amount (000)		U.S. $ Value
Indika Energy Capital IV Pte Ltd. 8.25%, 10/22/2025(c)	U.S.$	250	$	243,125
Stillwater Mining Co. 4.50%, 11/16/2029(c)		200		160,375
Vedanta Resources Finance II PLC 13.875%, 01/21/2024(c)		201		171,327
Volcan Cia Minera SAA 4.375%, 02/11/2026(c)		40		34,095
				1,011,014
Capital Goods – 0.1%
Embraer Netherlands Finance BV 5.40%, 02/01/2027		90		85,950
6.95%, 01/17/2028(c)		200		198,163
Odebrecht Holdco Finance Ltd. Zero Coupon, 09/10/2058(c)		127		317
				284,430
Communications - Telecommunications – 0.0%
C&W Senior Financing DAC 6.875%, 09/15/2027(c)		200		178,368
Digicel Group Holdings Ltd. 7.00%, 12/16/2022(f) (h) (j)		9		853
				179,221
Consumer Cyclical - Other – 0.1%
Melco Resorts Finance Ltd. 5.375%, 12/04/2029(c)		200		157,125
Wynn Macau Ltd. 5.50%, 10/01/2027(c)		214		181,365
				338,490
Consumer Cyclical - Retailers – 0.0%
K2016470219 South Africa Ltd. 3.00%, 12/31/2022(d) (f) (h)		40		20
K2016470260 South Africa Ltd. 25.00%, 12/31/2022(d) (f) (h)		28		3
				23
Consumer Non-Cyclical – 0.1%
BRF GmbH 4.35%, 09/29/2026(c)		210		187,950
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL 5.25%, 04/27/2029(c)		23		20,605
Teva Pharmaceutical Finance Netherlands III BV 4.75%, 05/09/2027		200		179,679
5.125%, 05/09/2029(b)		200		177,050
Tonon Luxembourg SA 6.50% (0.50% Cash and 6.00% PIK), 10/31/2024(a) (d) (f) (h) (o)		5		1
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018(a) (d) (e) (f) (g)		434		43
				565,328

38

	Principal Amount (000)		U.S. $ Value
Energy – 0.1%
Leviathan Bond Ltd. 5.75%, 06/30/2023(c)	U.S.$	18	$	17,913
6.50%, 06/30/2027(c)		109		106,107
Peru LNG SRL 5.375%, 03/22/2030(c)		217		179,025
				303,045
Technology – 0.0%
CA Magnum Holdings 5.375%, 10/31/2026(c)		200		176,000
				2,857,551
Utility – 0.1%
Electric – 0.1%
Cemig Geracao e Transmissao SA 9.25%, 12/05/2024(c)		200		204,850
Investment Energy Resources Ltd. 6.25%, 04/26/2029(c)		270		242,882
Terraform Global Operating LP 6.125%, 03/01/2026(f)		12		11,225
				458,957
Financial Institutions – 0.0%
Other Finance – 0.0%
OEC Finance Ltd. 5.25%, 12/27/2033(c) (h)		116		2,420
Total Emerging Markets - Corporate Bonds (cost $3,919,921)				3,318,928
COLLATERALIZED LOAN OBLIGATIONS – 0.5%
CLO - Floating Rate – 0.5%
Ares XXXIV CLO Ltd. Series 2015-2A, Class CR 6.079% (LIBOR 3 Month + 2.00%), 04/17/2033(c) (n)		270		252,242
Dryden 49 Senior Loan Fund Series 2017-49A, Class E 10.494% (LIBOR 3 Month + 6.30%), 07/18/2030(c) (n)		250		209,581
Dryden 78 CLO Ltd. Series 2020-78A, Class C 6.029% (LIBOR 3 Month + 1.95%), 04/17/2033(c) (n)		250		235,191
Dryden 98 CLO Ltd. Series 2022-98A, Class E 10.363% (SOFR + 6.40%), 04/20/2035(c) (n)		250		212,718

39

	Principal Amount (000)		U.S. $ Value
Elmwood CLO VIII Ltd. Series 2021-1A, Class E1 10.243% (LIBOR 3 Month + 6.00%), 01/20/2034(c) (n)	U.S.$	150	$	138,197
Elmwood CLO XII Ltd. Series 2021-5A, Class E 10.593% (LIBOR 3 Month + 6.35%), 01/20/2035(c) (n)		250		228,175
Octagon Investment Partners 29 Ltd. Series 2016-1A, Class DR 7.425% (LIBOR 3 Month + 3.10%), 01/24/2033(c) (n)		263		235,813
Rad CLO 11 Ltd. Series 2021-11A, Class E 10.329% (LIBOR 3 Month + 6.25%), 04/15/2034(c) (n)		250		221,469
Regatta XIX Funding Ltd. Series 2022-1A, Class E 10.843% (SOFR + 6.88%), 04/20/2035(c) (n)		250		216,468
Rockford Tower CLO Ltd. Series 2017-2A, Class DR 6.929% (LIBOR 3 Month + 2.85%), 10/15/2029(c) (n)		306		275,265
Trimaran Cavu Ltd. Series 2019-1A, Class E 11.283% (LIBOR 3 Month + 7.04%), 07/20/2032(c) (n)		250		217,337
Voya CLO Ltd. Series 2019-1A, Class DR 6.929% (LIBOR 3 Month + 2.85%), 04/15/2031(c) (n)		109		93,532
Total Collateralized Loan Obligations (cost $2,840,313)				2,535,988
COLLATERALIZED MORTGAGE OBLIGATIONS – 0.4%
Risk Share Floating Rate – 0.4%
Bellemeade Re Ltd. Series 2019-3A, Class M1C 5.994% (LIBOR 1 Month + 1.95%), 07/25/2029(c) (n)		164		162,209
Eagle Re Ltd. Series 2018-1, Class M2 7.044% (LIBOR 1 Month + 3.00%), 11/25/2028(c) (n)		150		148,901
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2015-HQA1, Class B 12.816% (LIBOR 1 Month + 8.80%), 03/25/2028(n)		790		782,848
Series 2016-HQA3, Class M3 7.866% (LIBOR 1 Month + 3.85%), 03/25/2029(n)		223		226,431

40

	Principal Amount (000)		U.S. $ Value
Series 2020-DNA1, Class M2 5.716% (LIBOR 1 Month + 1.70%), 01/25/2050(c) (n)	U.S.$	66	$	64,795
Federal National Mortgage Association Connecticut Avenue Securities Series 2015-C02, Class 1M2 8.016% (LIBOR 1 Month + 4.00%), 05/25/2025(n)		49		49,467
Series 2015-C03, Class 1M2 9.016% (LIBOR 1 Month + 5.00%), 07/25/2025(n)		3		2,537
Series 2015-C04, Class 2M2 9.566% (LIBOR 1 Month + 5.55%), 04/25/2028(n)		108		111,187
Series 2016-C01, Class 2M2 10.966% (LIBOR 1 Month + 6.95%), 08/25/2028(n)		53		55,201
Series 2016-C04, Class 1B 14.266% (LIBOR 1 Month + 10.25%), 01/25/2029(n)		197		204,365
Series 2017-C01, Class 1B1 9.766% (LIBOR 1 Month + 5.75%), 07/25/2029(n)		27		28,740
Series 2017-C03, Class 1B1 8.866% (LIBOR 1 Month + 4.85%), 10/25/2029(n)		27		27,754
Series 2017-C05, Class 1B1 7.616% (LIBOR 1 Month + 3.60%), 01/25/2030(n)		27		26,998
Series 2018-C01, Class 1B1 7.566% (LIBOR 1 Month + 3.55%), 07/25/2030(n)		86		85,704
Traingle Re Ltd. Series 2020-1, Class M2 9.644% (LIBOR 1 Month + 5.6%), 10/25/2030(c) (n)		106		105,906
				2,083,043
Agency Fixed Rate – 0.0%
Federal National Mortgage Association Grantor Trust Series 2004-T5, Class AB4 4.126%, 05/28/2035		84		75,422
Non-Agency Fixed Rate – 0.0%
Alternative Loan Trust Series 2006-28CB, Class A14 6.25%, 10/25/2036		9		4,853
CSMC Mortgage-Backed Trust Series 2006-7, Class 3A12 6.25%, 08/25/2036		9		4,318
				9,171
Total Collateralized Mortgage Obligations (cost $2,254,525)				2,167,636

41

	Principal Amount (000)		U.S. $ Value
QUASI-SOVEREIGNS – 0.1%
Quasi-Sovereign Bonds – 0.1%
Mexico – 0.1%
Petroleos Mexicanos 6.49%, 01/23/2027	U.S.$	51	$	46,145
6.50%, 01/23/2029		41		34,379
6.75%, 09/21/2047		182		115,797
6.95%, 01/28/2060		31		19,539
				215,860
Ukraine – 0.0%
State Agency of Roads of Ukraine 6.25%, 06/24/2030(f)		324		56,761
United Arab Emirates – 0.0%
DP World Crescent Ltd. 3.875%, 07/18/2029(c)		220		202,455
Total Quasi-Sovereigns (cost $777,072)				475,076
GOVERNMENTS - SOVEREIGN BONDS – 0.1%
Colombia – 0.1%
Colombia Government International Bond 4.125%, 05/15/2051		200		117,800
5.625%, 02/26/2044		200		141,600
				259,400
Mexico – 0.0%
Mexico Government International Bond 2.659%, 05/24/2031		238		197,421
Total Governments - Sovereign Bonds (cost $489,546)				456,821
COMMERCIAL MORTGAGE-BACKED SECURITIES – 0.0%
Non-Agency Floating Rate CMBS – 0.0%
DBWF Mortgage Trust Series 2018-GLKS, Class E 6.957% (LIBOR 1 Month + 3.02%), 12/19/2030(c) (n)		100		93,483
Morgan Stanley Capital I Trust Series 2019-BPR, Class E 8.873% (LIBOR 1 Month + 5.00%), 05/15/2036(c) (n)		39		30,984
				124,467
Non-Agency Fixed Rate CMBS – 0.0%
Citigroup Commercial Mortgage Trust Series 2014-GC23, Class D 4.63%, 07/10/2047(c)		35		32,005
GS Mortgage Securities Trust Series 2014-GC18, Class D 5.224%, 01/10/2047(c)		28		11,539

42

	Principal Amount (000)		U.S. $ Value
JPMBB Commercial Mortgage Securities Trust Series 2013-C17, Class D 5.046%, 01/15/2047(c)	U.S.$	71	$	65,855
				109,399
Total Commercial Mortgage-Backed Securities (cost $259,530)				233,866
	Shares
PREFERRED STOCKS – 0.0%
Industrials – 0.0%
Auto Components – 0.0%
Energy Technology 0.00%(d) (e)		117		66,105
Energy Equipment & Services – 0.0%
Gulfport Energy Corp. 10.00%(e)		10		54,000
Industrial Conglomerates – 0.0%
WESCO International, Inc. Series A 10.625%		3,350		91,790
				211,895
Consumer Discretionary – 0.0%
Household Durables – 0.0%
Hovnanian Enterprises, Inc. 7.625%		1,190		21,670
Total Preferred Stocks (cost $193,246)				233,565
EMERGING MARKETS - TREASURIES – 0.0%
Russia – 0.0%
Russian Federal Bond - OFZ Series 6212 (cost $355,795)	U.S.$	23,770		159,700
WARRANTS – 0.0%
Industrials – 0.0%
Construction & Engineering – 0.0%
Willscot Corp., expiring 11/29/2022(a) (d) (e)		1,913		60,412
Information Technology – 0.0%
Software – 0.0%
Avaya Holdings Corp., expiring 12/15/2022(a)		4,686		94
Diversified – 0.0%
Special Purpose Acquisition Company – 0.0%
CWT Travel Holdings, Inc., A-CW26, expiring 11/19/2026(a) (d) (e)		1,052		14
CWT Travel Holdings, Inc., B-CW28, expiring 11/19/2028(a) (d) (e)		1,108		19
				33
Total Warrants (cost $8,723)				60,539

43

	Principal Amount (000)				U.S. $ Value
MORTGAGE PASS-THROUGHS – 0.0%
Agency Fixed Rate 30-Year – 0.0%
Federal National Mortgage Association Series 2006 5.00%, 01/01/2036 (cost $83)		U.S.$	0	**	$	78
	Shares
RIGHTS – 0.0%
Financials – 0.0%
Capital Markets – 0.0%
Credit Suisse Group AG, expiring 12/08/2022(a) (b) (cost $0)			428			40
SHORT-TERM INVESTMENTS – 22.1%
Investment Companies – 21.8%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.50%(m) (q) (r) (cost $107,830,660)			107,830,660			107,830,660
	Principal Amount (000)
U.S. Treasury Bills – 0.3%
United States – 0.3%
U.S. Treasury Bill (cost $1,689,420)		U.S.$	1,716			1,687,994
Total Investments Before Security Lending Collateral for Securities Loaned – 96.5% (cost $457,702,061)						477,867,539
	Shares
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%
Investment Companies – 0.4%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.50%(m) (q) (r) (cost $1,840,737)			1,840,737			1,840,737
Total Investments – 96.9% (cost $459,542,798)(s)						479,708,276
Other assets less liabilities – 3.1%						15,265,376
Net Assets – 100.0%					$	494,973,652

44

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
10 Yr Australian Bond Futures		125		December 2022		$	10,237,207		$	122,700
10 Yr Canadian Bond Futures		144		March 2023			13,460,625			85,412
10 Yr Japan Bond (OSE) Futures		23		December 2022			24,770,512			(11,732	)
Euro Buxl 30 Yr Bond Futures		40		December 2022			6,589,080			(11,029	)
Euro STOXX 50 Index Futures		146		December 2022			6,023,930			409,242
Euro-BOBL Futures		44		December 2022			5,495,742			(154,346	)
Euro-Bund Futures		92		December 2022			13,487,176			(341,503	)
Euro-Schatz Futures		72		December 2022			8,000,300			(114,658	)
FTSE 100 Index Futures		36		December 2022			3,297,132			234,273
FTSE KLCI Futures		71		December 2022			1,186,526			(1,251	)
FTSE Taiwan Index Futures		26		December 2022			1,352,520			3,531
FTSE/JSE Top 40 Futures		55		December 2022			2,191,990			70,276
Hang Seng Index Futures		8		December 2022			953,380			48,004
Long Gilt Futures		119		March 2023			15,058,171			83,019
MSCI EAFE Futures		2		December 2022			197,980			27,436
MSCI Emerging Markets Futures		417		December 2022			20,485,125			141,690
S&P Mid 400 E Mini Futures		26		December 2022			6,707,480			193,252
S&P TSX 60 Index Futures		11		December 2022			2,028,517			106,692
SET 50 Futures		313		December 2022			1,765,900			8,825
SPI 200 Futures		16		December 2022			1,984,393			96,183
TOPIX Index Futures		19		December 2022			2,738,069			45,174
U.S. Long Bond (CBT) Futures		12		March 2023			1,524,000			(5,712	)
U.S. T-Note 2 Yr (CBT) Futures		87		March 2023			17,866,266			45,487
U.S. T-Note 5 Yr (CBT) Futures		205		March 2023			22,256,914			123,058
U.S. T-Note 10 Yr (CBT) Futures		312		March 2023			35,412,000			111,374
U.S. Ultra Bond (CBT) Futures		219		March 2023			29,845,594			(188,543	)
Sold Contracts
10 Yr Australian Bond Futures		34		December 2022			2,784,520			(117,998	)
10 Yr Canadian Bond Futures		73		March 2023			6,823,789			(43,531	)
10 Yr Mini Japan Government Bond Futures		42		December 2022			4,525,440			(29,016	)
E-Mini Russell 1000 Futures		67		December 2022			7,505,340			28,981
Euro Buxl 30 Yr Bond Futures		15		December 2022			2,470,905			(110,839	)
Euro STOXX 50 Index Futures		107		December 2022			4,414,798			(565,013	)
Euro-Bund Futures		8		December 2022			1,172,798			(4,649	)
FTSE 100 Index Futures		15		December 2022			1,373,805			(98,796	)
FTSE China A50 Futures		115		December 2022			1,459,925			(51,677	)
Long Gilt Futures		28		March 2023			3,543,099			(9,754	)
Mexican BOLSA Index Futures		2		December 2022			53,540			(3,957	)
MSCI Singapore IX ETS Futures		157		December 2022			3,426,136			(4,342	)
OMXS30 Index Futures		86		December 2022			1,721,130			(11,051	)
S&P 500 E-Mini Futures		289		December 2022			58,974,063			(2,278,805	)
S&P TSX 60 Index Futures		6		December 2022			1,106,464			(74,860	)
SGX Nifty 50 Futures		56		December 2022			2,118,648			(72,190	)
SPI 200 Futures		9		December 2022			1,116,221			(62,081	)
TOPIX Index Futures		23		December 2022			3,314,505			(155,591	)
U.S. 10 Yr Ultra Futures		14		March 2023			1,675,187			(2,496	)
U.S. T-Note 2 Yr (CBT) Futures		63		March 2023			12,937,641			(34,531	)
U.S. T-Note 5 Yr (CBT) Futures		20		March 2023			2,171,406			(12,307	)
U.S. T-Note 10 Yr (CBT) Futures		165		March 2023			18,727,500			(99,173	)
U.S. Ultra Bond (CBT) Futures		51		March 2023			6,950,344			79,589
WIG 20 Index Futures		144		December 2022			1,116,752			(2,912	)
									$	(2,610,145	)

45

FORWARD CURRENCY EXCHANGE CONTRACTS

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		EUR	1,680		USD	1,623		12/08/2022		$	(125,998	)
Bank of America, NA		EUR	2,203		USD	2,285		12/21/2022			(10,847	)
Bank of America, NA		NOK	9,996		USD	1,000		12/21/2022			(15,935	)
Bank of America, NA		SEK	24,652		USD	2,362		12/21/2022			11,295
Bank of America, NA		KRW	1,736,373		USD	1,215		01/30/2023			(117,771	)
Barclays Bank PLC		BRL	745		USD	141		12/02/2022			(2,841	)
Barclays Bank PLC		USD	143		BRL	745		12/02/2022			566
Barclays Bank PLC		MYR	32,054		USD	7,184		12/15/2022			(64,360	)
Barclays Bank PLC		USD	3,050		MYR	13,818		12/15/2022			74,829
Barclays Bank PLC		USD	4,491		MYR	19,827		12/15/2022			(8,456	)
Barclays Bank PLC		ZAR	33,843		USD	1,862		12/15/2022			(94,694	)
Barclays Bank PLC		CAD	1,259		USD	928		12/21/2022			(7,789	)
Barclays Bank PLC		TWD	20,410		USD	633		12/21/2022			(34,543	)
Barclays Bank PLC		USD	900		CAD	1,197		12/21/2022			(9,920	)
Barclays Bank PLC		USD	601		CHF	572		12/21/2022			5,163
Barclays Bank PLC		USD	845		GBP	708		12/21/2022			8,844
Barclays Bank PLC		USD	865		INR	71,963		12/21/2022			19,121
Barclays Bank PLC		USD	805		NZD	1,305		12/21/2022			17,944
Barclays Bank PLC		USD	3,635		MXN	70,982		01/19/2023			13,555
Barclays Bank PLC		IDR	14,978,026		USD	962		01/26/2023			5,823
Barclays Bank PLC		IDR	36,684,314		USD	2,334		01/26/2023			(7,418	)
Barclays Bank PLC		PHP	188,384		USD	3,244		01/26/2023			(92,242	)
Barclays Bank PLC		USD	1,239		IDR	19,475,022		01/26/2023			3,733
Barclays Bank PLC		USD	4,008		IDR	62,483,626		01/26/2023			(19,014	)
Barclays Bank PLC		PLN	2,280		USD	501		01/30/2023			(1,315	)
Barclays Bank PLC		USD	3,382		HUF	1,346,904		01/30/2023			(13,506	)
Barclays Bank PLC		USD	555		KRW	784,207		01/30/2023			47,154
Barclays Bank PLC		CNH	3,411		USD	470		02/16/2023			(17,447	)
Barclays Bank PLC		USD	690		CNH	4,951		02/16/2023			17,078
BNP Paribas SA		USD	1,665		COP	8,113,846		01/19/2023			1,676
BNP Paribas SA		USD	467		IDR	7,295,058		01/26/2023			(905	)
Citibank, NA		USD	1,299		SEK	13,568		12/01/2022			(6,594	)
Citibank, NA		JPY	90,748		USD	651		12/02/2022			(5,886	)
Citibank, NA		AUD	964		USD	612		01/19/2023			(44,013	)
Citibank, NA		CAD	4,290		USD	3,144		01/19/2023			(48,149	)
Citibank, NA		USD	1,552		PHP	92,641		01/26/2023			88,166
Citibank, NA		USD	657		JPY	90,748		02/09/2023			5,915
Deutsche Bank AG		SEK	6,869		USD	615		12/01/2022			(38,967	)
Deutsche Bank AG		USD	650		SEK	6,869		12/01/2022			4,558
Deutsche Bank AG		CHF	612		USD	636		12/07/2022			(11,199	)
Deutsche Bank AG		ZAR	14,009		USD	769		12/15/2022			(41,242	)
Deutsche Bank AG		INR	165,289		USD	2,016		12/21/2022			(15,387	)
Deutsche Bank AG		TWD	16,386		USD	524		12/21/2022			(12,136	)
Deutsche Bank AG		USD	3,975		CAD	5,286		12/21/2022			(43,763	)
Deutsche Bank AG		USD	1,758		TWD	55,659		12/21/2022			63,137
Deutsche Bank AG		PHP	31,785		USD	555		01/26/2023			(7,979	)
Deutsche Bank AG		USD	730		KRW	961,214		01/30/2023			8,206
Deutsche Bank AG		USD	2,559		PLN	11,647		01/30/2023			8,804
Deutsche Bank AG		CNH	31,813		USD	4,445		02/16/2023			(97,200	)
Goldman Sachs Bank USA		BRL	2,276		USD	429		12/02/2022			(9,304	)
Goldman Sachs Bank USA		USD	423		BRL	2,276		12/02/2022			15,224
Goldman Sachs Bank USA		USD	1,365		ZAR	23,587		12/15/2022			(1,645	)
Goldman Sachs Bank USA		JPY	258,015		USD	1,855		12/21/2022			(18,173	)
Goldman Sachs Bank USA		NOK	11,405		USD	1,146		12/21/2022			(12,924	)
Goldman Sachs Bank USA		USD	796		EUR	771		12/21/2022			7,439
Goldman Sachs Bank USA		USD	4,575		INR	372,228		12/21/2022			708
Goldman Sachs Bank USA		USD	1,714		SEK	18,191		12/21/2022			20,710
Goldman Sachs Bank USA		USD	2,148		PHP	127,143		01/26/2023			103,650
Goldman Sachs Bank USA		HUF	800,541		USD	1,980		01/30/2023			(22,570	)
Goldman Sachs Bank USA		CNH	10,929		USD	1,501		02/16/2023			(59,246	)
Goldman Sachs Bank USA		USD	1,278		CNH	9,006		02/16/2023			7,612
HSBC Bank USA		PEN	5,731		USD	1,489		01/19/2023			776
JPMorgan Chase Bank, NA		BRL	2,036		USD	384		12/02/2022			(7,761	)
JPMorgan Chase Bank, NA		USD	378		BRL	2,036		12/02/2022			14,398

46

Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
JPMorgan Chase Bank, NA		EUR	2,127		USD	2,108		12/08/2022		$	(106,516	)
JPMorgan Chase Bank, NA		AUD	2,600		USD	1,757		12/21/2022			(9,245	)
JPMorgan Chase Bank, NA		CHF	3,771		USD	4,015		12/21/2022			19,829
JPMorgan Chase Bank, NA		GBP	3,830		USD	4,522		12/21/2022			(97,534	)
JPMorgan Chase Bank, NA		TWD	47,742		USD	1,494		12/21/2022			(68,097	)
JPMorgan Chase Bank, NA		USD	733		GBP	617		12/21/2022			11,017
JPMorgan Chase Bank, NA		USD	3,989		JPY	556,136		12/21/2022			47,754
JPMorgan Chase Bank, NA		GBP	783		USD	932		01/18/2023			(12,789	)
JPMorgan Chase Bank, NA		CZK	75,593		USD	3,218		01/30/2023			(3,956	)
JPMorgan Chase Bank, NA		USD	1,796		CNH	12,806		02/16/2023			32,863
Morgan Stanley Capital Services, Inc.		BRL	4,576		USD	849		12/02/2022			(32,827	)
Morgan Stanley Capital Services, Inc.		USD	864		BRL	4,576		12/02/2022			17,448
Morgan Stanley Capital Services, Inc.		USD	1,240		EUR	1,237		12/08/2022			47,954
Morgan Stanley Capital Services, Inc.		MYR	13,608		USD	2,919		12/15/2022			(157,976	)
Morgan Stanley Capital Services, Inc.		USD	729		MYR	3,237		12/15/2022			2,858
Morgan Stanley Capital Services, Inc.		NZD	1,381		USD	845		12/21/2022			(25,748	)
Morgan Stanley Capital Services, Inc.		TWD	13,781		USD	433		12/21/2022			(18,152	)
Morgan Stanley Capital Services, Inc.		USD	844		BRL	4,576		01/04/2023			32,945
Standard Chartered Bank		TWD	13,781		USD	433		12/21/2022			(17,948	)
Standard Chartered Bank		USD	3,989		AUD	5,946		12/21/2022			49,959
State Street Bank & Trust Co.		NOK	2,568		USD	248		12/01/2022			(12,467	)
State Street Bank & Trust Co.		USD	240		NOK	2,568		12/01/2022			20,277
State Street Bank & Trust Co.		USD	976		SEK	10,762		12/01/2022			48,448
State Street Bank & Trust Co.		JPY	1,180		USD	8		12/02/2022			(330	)
State Street Bank & Trust Co.		USD	630		JPY	90,748		12/02/2022			27,601
State Street Bank & Trust Co.		USD	623		CHF	612		12/07/2022			24,448
State Street Bank & Trust Co.		EUR	1,972		USD	1,960		12/08/2022			(91,726	)
State Street Bank & Trust Co.		USD	1,100		EUR	1,110		12/08/2022			54,733
State Street Bank & Trust Co.		NZD	798		USD	497		12/21/2022			(5,596	)
State Street Bank & Trust Co.		GBP	58		USD	70		01/18/2023			(154	)
State Street Bank & Trust Co.		USD	98		GBP	82		01/18/2023			1,045
State Street Bank & Trust Co.		CAD	976		USD	729		01/19/2023			2,612
State Street Bank & Trust Co.		CAD	911		USD	673		01/19/2023			(5,092	)
State Street Bank & Trust Co.		THB	206,012		USD	5,588		01/19/2023			(283,540	)
State Street Bank & Trust Co.		USD	626		CAD	847		01/19/2023			3,902
State Street Bank & Trust Co.		USD	417		CAD	556		01/19/2023			(3,411	)
State Street Bank & Trust Co.		USD	922		THB	33,060		01/19/2023			19,805
State Street Bank & Trust Co.		USD	2,880		THB	100,871		01/19/2023			(4,651	)
State Street Bank & Trust Co.		USD	475		CZK	11,237		01/30/2023			3,822
UBS AG		SEK	24,330		USD	2,258		12/01/2022			(58,900	)
UBS AG		CLP	1,460,653		USD	1,620		01/19/2023			(7,135	)
										$	(1,127,525	)

47

CENTRALLY CLEARED INTEREST RATE SWAPS

			Rate Type
Notional Amount (000)		Termination Date	Payments made by the Fund	Payments received by the Fund		Payment Frequency Paid/ Received	Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation (Depreciation)
USD	4,070	10/25/2024	1 Day SOFR		4.551%	Annual	$	11,758		$	—		$	11,758
CNY	36,260	02/17/2025	China 7-Day Reverse Repo Rate		2.547%	Quarterly		5,736			—			5,736
CNY	107,914	02/20/2025	China 7-Day Reverse Repo Rate		2.598%	Quarterly		33,379			—			33,379
CNY	109,516	02/21/2025	China 7-Day Reverse Repo Rate		2.620%	Quarterly		40,797			—			40,797
CHF	1,040	09/21/2031	1 Day SARON		(0.192)%	Annual		(164,051	)		(15,726	)		(148,325	)
CHF	590	11/19/2031	1 Day SARON		0.100%	Annual		(78,824	)		—			(78,824	)
NOK	840	05/25/2032	6 Month NIBOR		2.913%	Semi-Annual/ Annual		(978	)		—			(978	)
NOK	5,000	06/15/2032	6 Month NIBOR		3.335%	Semi-Annual/ Annual		5,703			—			5,703
NZD	60	07/21/2032	3 Month BKBM		3.973%	Quarterly/ Semi-Annual		(551	)		—			(551	)
NZD	900	08/22/2032	3 Month BKBM		3.721%	Quarterly/ Semi-Annual		(24,266	)		—			(24,266	)
CHF	480	08/22/2032	1 Day SARON		1.365%	Annual		(10,530	)		—			(10,530	)
SEK	60	08/22/2032	2.370%		3 Month STIBOR	Annual/ Quarterly		136			—			136
SEK	9,430	09/15/2032	2.907%		3 Month STIBOR	Annual/ Quarterly		(16,833	)		—			(16,833	)
SEK	29,980	09/27/2032	3.115%		3 Month STIBOR	Annual/ Quarterly		(102,670	)		—			(102,670	)
NZD	1,290	09/28/2032	3 Month BKBM		4.378%	Quarterly/ Semi-Annual		1,327			—			1,327
NOK	11,920	10/03/2032	6 Month NIBOR		3.568%	Semi-Annual/ Annual		31,533			—			31,533
USD	830	10/25/2032	3.934%		1 Day SOFR	Annual		(38,776	)		—			(38,776	)
							$	(307,110	)	$	(15,726	)	$	(291,384	)

48

CENTRALLY CLEARED CREDIT DEFAULT SWAPS

Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at November 30, 2022		Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation (Depreciation)
Buy Contracts
CDX-NAHY Series 33, 5 Year Index, 12/20/2024*		(5.00	)%		Quarterly		2.91%		USD	8,166	$	(405,784	)	$	(67,158	)	$	(338,626	)
Sale Contracts
CDX-NAHY Series 39, 5 Year Index, 12/20/2027*		5.00			Quarterly		4.53		USD	9,810		280,406			(366,580	)		646,986
iTraxx Xover Series 38, 5 Year Index, 12/20/2027*		5.00			Quarterly		4.58		EUR	2,900		79,810			(124,491	)		204,301
Republic of South Africa, 5.875%, 09/16/2025, 12/20/2027*		1.00			Quarterly		2.42		USD	300		(17,977	)		(22,632	)		4,655
											$	(63,545	)	$	(580,861	)	$	517,316

* Termination date

CREDIT DEFAULT SWAPS

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at November 30, 2022	Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation (Depreciation)
Buy Contracts
Goldman Sachs International
CDX-CMBX.NA.BB Series 6, 05/11/2063*		(5.00	)%	Monthly	7.50%		USD	591	$	217,560		$	182,945		$	34,615
JPMorgan Securities, LLC
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		(3.00	)	Monthly	7.50		USD	632		146,805			101,021			45,784
Sale Contracts
Citigroup Global Markets, Inc.
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	18		(6,620	)		(8,371	)		1,751
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	304		(113,237	)		(49,752	)		(63,485	)
Credit Suisse International
CDX-CMBX.NA.BBB- Series 6, 05/11/2063*		3.00		Monthly	7.50		USD	2,975		(699,152	)		(274,151	)		(425,001	)

49

Swap Counterparty & Referenced Obligation	Fixed Rate (Pay) Receive			Payment Frequency	Implied Credit Spread at November 30, 2022	Notional Amount (000)			Market Value			Upfront Premiums Paid/ (Received)			Unrealized Appreciation (Depreciation)
Deutsche Bank AG
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00	%	Monthly	7.50%		USD	906	$	(337,364	)	$	(151,384	)	$	(185,980	)
Goldman Sachs International
Avis Budget Group, Inc., 5.250%, 03/15/2025, 12/20/2023*		5.00		Quarterly	1.19		USD	50		3,091			679			2,412
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	3		(1,273	)		(1,608	)		335
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	3		(1,273	)		(1,608	)		335
Morgan Stanley & Co. International PLC
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	21		(7,893	)		(9,206	)		1,313
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	21		(7,893	)		(8,509	)		616
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	7		(2,546	)		(3,147	)		601
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	21		(7,639	)		(8,187	)		548
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	22		(8,148	)		(8,681	)		533
CDX-CMBX.NA.BB Series 6, 05/11/2063*		5.00		Monthly	7.50		USD	23		(8,402	)		(8,899	)		497
									$	(833,984	)	$	(248,858	)	$	(585,126	)

* Termination date

TOTAL RETURN SWAPS

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)			Maturity Date		Unrealized Appreciation (Depreciation)
Receive Total Return on Reference Obligation
Bank of America, NA
MLABUSCU	OBFR Plus 0.25%	Quarterly		USD	2,371		11/15/2023	$	54,501
MLABUSLV	OBFR Plus 0.25%	Quarterly		USD	431		04/17/2023		42,136
MLABUSLV	OBFR Plus 0.25%	Quarterly		USD	538		10/16/2023		52,576
MLABUSLV	OBFR Plus 0.25%	Quarterly		USD	93		11/15/2023		3,237

50

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)				Maturity Date		Unrealized Appreciation (Depreciation)
Barclays Bank PLC
Barclays Capital US Inflation Linked Bonds 1 to 10 Year	SOFR Plus 0.0022%	Annual/ Maturity		USD	86,923			02/01/2023	$	786,136
Citibank, NA
CGABROEG	FedFundEffective Plus 0.35%	Quarterly		USD	669			12/15/2022		43,943
CGABROEG	FedFundEffective Plus 0.35%	Quarterly		USD	731			12/15/2022		42,741
CGABROEG	FedFundEffective Plus 0.35%	Quarterly		USD	526			12/15/2022		34,596
CGABROEG	FedFundEffective Plus 0.35%	Quarterly		USD	253			12/15/2022		14,798
CGABROEG	FedFundEffective Plus 0.35%	Quarterly		USD	188			12/15/2022		11,026
Goldman Sachs International
GSABVISP	SOFR Plus 0.40%	Quarterly		USD	857			08/15/2023		16,989
GSABVISP	SOFR Plus 0.40%	Quarterly		USD	76			08/15/2023		765
Markit iBoxx EUR Contingent Convertible Liquid Developed Market AT1 TRI	EURIBOR	Annual/ Maturity		EUR	527			03/20/2023		18,159
Micro Focus International PLC	SONIA Plus 0.35%	Monthly		GBP	40			07/15/2025		468
JPMorgan Chase Bank, NA
AVEVA Group PLC	SONIA Plus 0.35%	Monthly		GBP	145			08/14/2023		829
AVEVA Group PLC	SONIA Plus 0.35%	Monthly		GBP	96			08/14/2023		150
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	13			08/14/2023		(15	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	2			08/14/2023		(26	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	3			08/14/2023		(32	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	3			08/14/2023		(33	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	6			08/14/2023		(68	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	10			08/14/2023		(107	)
ContourGlobal PLC	SONIA Plus 0.35%	Monthly		GBP	16			08/14/2023		(137	)
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	370			08/14/2023		10,640
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	185			08/14/2023		5,715
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	142			08/14/2023		3,948
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	89			08/14/2023		2,554
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	94			08/14/2023		1,571
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	49			08/14/2023		239
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	46			08/14/2023		225
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	41			08/14/2023		201
HomeServe PLC	SONIA Plus 0.35%	Monthly		GBP	0	***		08/14/2023		5
JPABJVAL(1)	TONAR Plus 0.18%	Quarterly		JPY	181,763			11/15/2023		33,487
Merrill Lynch International
Bloomberg Commodity Index	0.10%	Annual		USD	2,544			12/15/2022		(9,844	)
Bloomberg Commodity Index	0.10%	Annual		USD	32,238			12/15/2022		(124,758	)

51

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)				Maturity Date		Unrealized Appreciation (Depreciation)
Morgan Stanley Capital Services LLC
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	169			10/18/2023	$	2,249
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	85			10/18/2023		1,268
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	95			10/18/2023		1,224
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	76			10/18/2023		1,107
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	63			10/18/2023		858
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	58			10/18/2023		576
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	48			10/18/2023		541
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	22			10/18/2023		332
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	24			10/18/2023		273
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	13			10/18/2023		134
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	4			10/18/2023		57
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	2			10/18/2023		24
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	1			10/18/2023		19
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	1			10/18/2023		7
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	0	***		10/18/2023		1
Euromoney Institutional Investor PLC	SONIA Plus 0.54%	Monthly		GBP	0	***		10/18/2023		1
Micro Focus International PLC	SONIA Plus 0.54%	Monthly		GBP	166			10/18/2023		2,699
Micro Focus International PLC	SONIA Plus 0.54%	Monthly		GBP	65			10/18/2023		670
Micro Focus International PLC	SONIA Plus 0.54%	Monthly		GBP	61			10/18/2023		522
Micro Focus International PLC	SONIA Plus 0.54%	Monthly		GBP	28			10/18/2023		281
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	59			10/18/2023		269
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	28			10/18/2023		130
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	15			10/18/2023		69
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	13			10/18/2023		15
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	1			10/18/2023		6
Siemens Gamesa Renewable Energy SA	EURIBOR Plus 0.50%	Monthly		EUR	1			10/18/2023		3
Swiss Market Index Futures	0.00%	Monthly		CHF	558			12/16/2022		22,601
UBS AG
Russell 2000 Total Return Index	OBFR Plus 0.05%	Quarterly		USD	6,436			06/15/2023		189,098
Pay Total Return on Reference Obligation
Goldman Sachs International
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	220			07/15/2025		20,290
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	220			07/15/2025		17,596
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	172			07/15/2025		13,953
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	137			07/15/2025		12,696

52

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency	Current Notional (000)				Maturity Date		Unrealized Appreciation (Depreciation)
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	165			07/15/2025	$	11,522
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	65			07/15/2025		4,628
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	159			07/15/2025		3,408
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	89			07/15/2025		3,222
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	42			07/15/2025		3,211
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	28			07/15/2025		1,958
Columbia Banking System, Inc.	SOFR Minus 0.34%	Monthly		USD	115			07/15/2025		1,954
Columbia Banking System, Inc.	SOFR Minus 0.33%	Monthly		USD	22			07/15/2025		805
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	7			07/15/2025		710
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	5			07/15/2025		585
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	55			07/15/2025		477
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	1			07/15/2025		73
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	1			07/15/2025		70
Columbia Banking System, Inc.	SOFR Minus 0.33%	Monthly		USD	1			07/15/2025		41
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	0	***		07/15/2025		14
Columbia Banking System, Inc.	SOFR Minus 0.35%	Monthly		USD	66			07/15/2025		(622	)
Columbia Banking System, Inc.	SOFR Minus 0.32%	Monthly		USD	51			07/15/2025		(1,237	)
New York Community Bancorp, Inc.	SOFR Minus 0.30%	Monthly		USD	362			01/05/2023		134,060
New York Community Bancorp, Inc.	SOFR Minus 0.30%	Monthly		USD	346			01/05/2023		125,139
New York Community Bancorp, Inc.	SOFR Minus 0.30%	Monthly		USD	268			01/05/2023		88,337
New York Community Bancorp, Inc.	SOFR Minus 0.30%	Monthly		USD	160			01/05/2023		60,134
New York Community Bancorp, Inc.	SOFR Minus 0.07%	Monthly		USD	104			01/05/2023		34,878
New York Community Bancorp, Inc.	SOFR Minus 0.30%	Monthly		USD	104			01/05/2023		33,675
New York Community Bancorp, Inc.	SOFR Minus 0.32%	Monthly		USD	55			07/15/2025		22,511
New York Community Bancorp, Inc.	SOFR Minus 0.32%	Monthly		USD	41			07/15/2025		17,635
New York Community Bancorp, Inc.	SOFR Minus 0.32%	Monthly		USD	36			07/15/2025		15,484
New York Community Bancorp, Inc.	SOFR Minus 0.32%	Monthly		USD	0	***		07/15/2025		182
New York Community Bancorp, Inc.	SOFR Minus 0.48%	Monthly		USD	237			07/15/2025		(3,301	)
JPMorgan Chase Bank, NA
Broadcom, Inc.	OBFR Minus 0.28%	Monthly		USD	374			08/14/2023		11,050
Broadcom, Inc.	OBFR Minus 0.28%	Monthly		USD	232			08/14/2023		7,735
Broadcom, Inc.	OBFR Minus 0.28%	Monthly		USD	114			08/14/2023		4,792
Broadcom, Inc.	OBFR Minus 0.28%	Monthly		USD	225			08/14/2023		1,993
Broadcom, Inc.	OBFR Minus 0.28%	Monthly		USD	13			08/14/2023		598

53

Counterparty & Referenced Obligation	Rate Paid/ Received	Payment Frequency		Current Notional (000)			Maturity Date		Unrealized Appreciation (Depreciation)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	5		08/14/2023	$	(461	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	8		08/14/2023		(649	)
ICE U.S. Dollar Index	OBFR Minus 0.78%		Monthly		USD	33		08/14/2023		(2,129	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	49		08/14/2023		(2,321	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	64		08/14/2023		(2,946	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	39		08/14/2023		(3,384	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	40		08/14/2023		(3,876	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	69		08/14/2023		(4,243	)
ICE U.S. Dollar Index	OBFR Minus 0.28%		Monthly		USD	62		08/14/2023		(5,881	)
MaxLinear, Inc.	OBFR Minus 0.30%		Monthly		USD	154		08/14/2023		31,078
Morgan Stanley Capital Services LLC
Agnico Eagle Mines Ltd.	FedFundEffective Plus 3.53%		Monthly		USD	265		10/18/2023		(15,231	)
Agnico Eagle Mines Ltd.	FedFundEffective Plus 3.53%		Monthly		USD	265		10/18/2023		(32,001	)
IBOVESPA Futures	0.00%		Monthly		BRL	3,157		12/14/2022		25,769
KOSPI 200 Futures	0.00%		Monthly		KRW	239,738		12/08/2022		(1,092	)
MSABHOWN	FedFundEffective Minus 0.22%		Quarterly		USD	522		04/17/2023		(20,471	)
Pan American Silver Corp.	FedFundEffective Plus 3.53%		Monthly		USD	366		10/18/2023		(48,508	)
Pan American Silver Corp.	FedFundEffective Plus 3.53%		Monthly		USD	366		10/18/2023		(63,308	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	33		10/18/2023		957
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	7		10/18/2023		273
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	1		10/18/2023		15
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	15		10/18/2023		(16	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	58		10/18/2023		(205	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	24		10/18/2023		(553	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	33		10/18/2023		(1,837	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	38		10/18/2023		(2,103	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	40		10/18/2023		(2,263	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	71		10/18/2023		(4,956	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	118		10/18/2023		(8,242	)
Ritchie Bros. Auctioneers, Inc.	FedFundEffective Plus 3.53%		Monthly		USD	118		10/18/2023		(8,949	)
									$	1,744,372

54

VARIANCE SWAPS

Swap Counterparty & Referenced Obligation	Volatility Strike Rate			Payment Frequency		Notional Amount (000)			Market Value			Upfront Premiums (Paid)/ Received		Unrealized Appreciation (Depreciation)
Buy Contracts
JPMorgan Chase Bank, NA
FTSE 100 Index 12/16/2022*		23.90	%		Maturity		GBP	92	$	(79,852	)	$	—	$	(79,852	)
Nikkei 225 Index 02/10/2023*		23.65			Maturity		JPY	37,324		(32,333	)		—		(32,333	)
S&P/ASX 200 Index 12/15/2022*		21.20			Maturity		AUD	246		(92,725	)		—		(92,725	)
UBS AG
NASDAQ 100 Stock Index 02/17/2023*		33.50			Maturity		USD	385		(82,205	)		—		(82,205	)
S&P 500 Index 02/17/2023*		27.10			Maturity		USD	159		(32,947	)		—		(32,947	)
S&P/ASX 200 Index 02/16/2023*		19.12			Maturity		AUD	400		(73,880	)		—		(73,880	)
Sale Contracts
Citibank, NA
Russell 2000 Index 12/16/2022*		30.10			Maturity		USD	237		77,141			—		77,141
Goldman Sachs International
Euro STOXX 50 Price EUR Index 12/16/2022*		20.50			Maturity		EUR	100		39,719			—		39,719
S&P 500 Index 12/16/2022*		23.50			Maturity		USD	86		12,304			—		12,304
UBS AG
FTSE 100 Index 12/16/2022*		22.60			Maturity		GBP	82		68,130			—		68,130
NASDAQ 100 Stock Index 12/16/2022*		31.15			Maturity		USD	359		33,556			—		33,556
S&P/ASX 200 Index 12/15/2022*		21.26			Maturity		AUD	247		93,670			—		93,670
									$	(69,422	)	$	—	$	(69,422	)

* Termination date

** Principal amount less than 500.

*** Notional amount less than $500.

(a) Non-income producing security.

(b) Represents entire or partial securities out on loan.

(c) 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 November 30, 2022, the aggregate market value of these securities amounted to $40,291,890 or 8.1% of net assets.

(d) Fair valued by the Adviser.

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

(f) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.02% of net assets as of November 30, 2022, are considered illiquid and restricted. Additional information regarding such securities follows:

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Diamond Offshore Drilling, Inc.	04/26/2021	$	56,838	$	34,864		0.01	%
Digicel Group Holdings Ltd. 7.00%, 12/16/2022	06/19/2020		2,022		853		0.00	%

55

144A/Restricted & Illiquid Securities	Acquisition Date	Cost		Market Value		Percentage of Net Assets
Exide Technologies (Exchange Priority) 11.00%, 10/31/2024	10/26/2020	$	0	$	0	0.00%
Exide Technologies (First Lien) 11.00%, 10/31/2024	06/21/2019		17,967		0	0.00%
K2016470219 South Africa Ltd. 3.00%, 12/31/2022	04/26/2017		39,490		20	0.00%
K2016470260 South Africa Ltd. 25.00%, 12/31/2022	04/26/2017		28,308		3	0.00%
Magnetation LLC/Mag Finance Corp. 11.00%, 05/15/2018	04/26/2017		15		0	0.00%
State Agency of Roads of Ukraine 6.25%, 06/24/2030	06/17/2021		324,000		56,761	0.01%
Terraform Global Operating LP 6.125%, 03/01/2026	02/08/2018		12,000		11,225	0.00%
Tonon Luxembourg SA 6.50%, 10/31/2024	04/26/2017		2,770		1	0.00%
Virgolino de Oliveira Finance SA 10.50%, 01/28/2018	03/29/2017		33,435		43	0.00%

(g) Defaulted matured security.

(h) Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at November 30, 2022.

(i) Convertible security.

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

(k) Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding.

(l) Position, or a portion thereof, has been segregated to collateralize margin requirements for open exchange-traded derivatives.

(m) To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(n) Floating Rate Security. Stated interest/floor/ceiling rate was in effect at November 30, 2022.

(o) Defaulted.

(p) The stated coupon rate represents the greater of the LIBOR or the LIBOR floor rate plus a spread at November 30, 2022.

(q) Affiliated investments.

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

(s) As of November 30, 2022, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $52,266,403 and gross unrealized depreciation of investments was $(34,522,839), resulting in net unrealized appreciation of $17,743,564.

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CLP – Chilean Peso

CNH – Chiinese Yuan Renminbi (Offshore)

CNY – Chinese Yuan Renminbi

COP – Colombian Peso

CZK – Czech Koruna

EUR – Euro

GBP – Great British Pound

HUF – Hungarian Forint

IDR – Indonesian Rupiah

56

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PHP – Philippine Peso

PLN – Polish Zloty

SEK – Swedish Krona

THB – Thailand Baht

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

ADR – American Depositary Receipt

ASX – Australian Stock Exchange

BKBM – Bank Bill Benchmark (New Zealand)

BOBL – Bundesobligationen

CBT – Chicago Board of Trade

CDX-CMBX.NA – North American Commercial Mortgage-Backed Index

CDX-NAHY – North American High Yield Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

EAFE – Europe, Australia, and Far East

ETF – Exchange Traded Fund

ETS – Emission Trading Scheme

EURIBOR – Euro Interbank Offered Rate

FedFundEffective – Federal Funds Effective Rate

FTSE – Financial Times Stock Exchange

ICE – Intercontinental Exchange

JSE – Johannesburg Stock Exchange

KLCI – Kuala Lumpur Composite Index

KOSPI – Korea Composite Stock Price Index

LIBOR – London Interbank Offered Rate

MSCI – Morgan Stanley Capital International

NASDAQ – National Association of Securities Dealers Automated Quotations

NIBOR – Norwegian Interbank Offered Rate

OBFR – Overnight Bank Funding Rate

OSE – Osaka Securities Exchange

REG – Registered Shares

REIT – Real Estate Investment Trust

SARON – Swiss Average Rate Overnight

SET – Stock Exchange of Thailand

SGX – Singapore Exchange

SOFR – Secured Overnight Financing Rate

SONIA – Sterling Overnight Index Average

SPDR – Standard & Poor’s Depository Receipt

SPI – Share Price Index

STIBOR – Stockholm Interbank Offered Rate

TONAR – Tokyo Overnight Average Rate

TOPIX – Tokyo Price Index

TSX – Toronto Stock Exchange

WIG – Warszawski Indeks Gieldowy

57

(1) The following table represents the 50 largest equity basket holdings underlying the total return swap in JPABJVAL as of November 30, 2022.

Security Description	Shares		Current Notional			Percent of Basket’s Value
Sumitomo Mitsui Financial Group		1,446		JPY	6,755,846		3.7	%
Nippon Yusen KK		2,146			6,517,191		3.6	%
Mitsubishi Heavy Industries, Ltd.		1,189			6,490,266		3.6	%
Marubeni Corp.		4,156			6,433,972		3.5	%
Nintendo Co., Ltd.		1,021			6,016,785		3.3	%
Japan Tobacco, Inc.		2,090			5,885,777		3.2	%
SoftBank Group Corp.		945			5,621,741		3.1	%
Tokyo Electric Power Co. Holdings		11,088			5,532,986		3.0	%
Toyo Suisan Kaisha, Ltd.		853			4,919,160		2.7	%
Toyota Motor Corp.		2,425			4,875,395		2.7	%
TDK Corp.		922			4,499,326		2.5	%
Daito Trust Construction Co., Ltd.		293			4,490,545		2.5	%
Trend Micro, Inc./Japan		651			4,434,517		2.4	%
Central Japan Railway Co.		265			4,407,706		2.4	%
T&D Holdings, Inc.		2,630			4,387,069		2.4	%
Otsuka Holdings Co., Ltd.		935			4,384,861		2.4	%
Subaru Corp.		1,852			4,353,808		2.4	%
Takeda Pharmaceutical Co., Ltd.		1,070			4,334,912		2.4	%
Taisei Corp.		1,000			4,163,929		2.3	%
Nitto Denko Corp.		480			4,130,984		2.3	%
Nomura Real Estate Holdings, Inc.		1,187			3,940,805		2.2	%
Pan Pacific International Holdings		1,594			3,800,150		2.1	%
McDonald’s Holdings Co./Japan		735			3,754,223		2.1	%
SBI Holdings, Inc./Japan		1,400			3,665,943		2.0	%
NGK Insulators, Ltd.		1,985			3,595,082		2.0	%
Brother Industries, Ltd.		1,609			3,562,036		2.0	%
NEC Corp.		701			3,404,445		1.9	%
Hoya Corp.		230			3,238,937		1.8	%
Astellas Pharma, Inc.		1,425			3,032,488		1.7	%
Aisin Corp.		788			2,967,266		1.6	%
Lida Group Holdings Co. Ltd.		1,346			2,952,263		1.6	%
Nabtesco Corp.		854			2,910,990		1.6	%
ZOZO, Inc.		794			2,718,048		1.5	%
Lion Corp.		1,849			2,709,053		1.5	%
Kobe Bussan Co. Ltd.		649			2,320,950		1.3	%
Shionogi & Co. Ltd.		309			2,145,503		1.2	%
Sony Group Corp.		186			2,091,921		1.2	%
Z Holdings Corp.		5,500			2,054,336		1.1	%
Murata Manufacturing Co. Ltd.		250			1,864,058		1.0	%
TOPPAN, Inc.		680			1,450,130		0.8	%
Honda Motor Co. Ltd.		411			1,378,585		0.8	%
Tobu Railway Co. Ltd.		397			1,313,870		0.7	%
Dai-ichi Life Holdings, Inc.		485			1,233,637		0.7	%
Tokyo Electron, Ltd.		27			1,196,036		0.7	%
AGC, Inc.		228			1,050,980		0.6	%
United Urban Investment Corp.		7			1,028,706		0.6	%
Yamada Holdings Co. Ltd.		2,150			1,025,460		0.6	%
Ajinomoto Co., Inc.		206			893,849		0.5	%
Keyence Corp.		15			876,867		0.5	%
Orix J-REIT, Inc.		4			791,861		0.4	%
Other Long		4,651			10,158,161		5.3	%

Country Breakdown¹

November 31, 2022 (unaudited)

56.5	%	United States
2.5	%	United Kingdom
2.4	%	Canada
2.0	%	Japan
1.7	%	France
1.4	%	Switzerland
1.3	%	Netherlands
0.7	%	Denmark
0.7	%	Germany
0.6	%	China
0.6	%	Hong Kong
0.5	%	Spain
0.5	%	Israel
5.7	%	Other
22.9	%	Short-Term Investments
100.0	%	Total Investments

¹  The Fund’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.5% or less in the following: Angola, Argentina, Australia, Austria, Bahrain, Belgium, Bermuda, Brazil, Colombia, Dominican Republic, Ecuador, El Salvador, Finland, Gabon, Guatemala, India, Indonesia, Ireland, Italy, Ivory Coast, Jamaica, Lebanon, Luxembourg, Macau, Mexico, Mongolia, New Zealand, Nigeria, Norway, Oman,Panama, Peru, Portugal, Russia, Senegal, Singapore, South Africa, South Korea, Sweden, Taiwan, Turkey, Ukraine, United Arab Emirates and Venezuela.

58

AB All Market Total Return Portfolio

November 30, 2022 (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.

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.

59

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided are classified as Level 3.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of November 30, 2022:

Investments in Securities:	Level 1		Level 2		Level 3			Total
Assets:
Common Stocks:
Information Technology	$	68,050,925	$	6,818,884	$	—		$	74,869,809
Health Care		41,341,791		9,475,191		—			50,816,982
Financials		26,747,325		14,800,159		—			41,547,484
Consumer Discretionary		23,966,864		6,952,729		2,275			30,921,868
Industrials		18,555,286		6,467,764		—			25,023,050
Communication Services		14,272,279		3,399,401		0	(a)		17,671,680
Consumer Staples		9,517,325		5,120,786		189,530	(a)		14,827,641
Energy		4,033,870		5,205,028		0	(a)		9,238,898
Materials		5,488,700		1,721,881		0	(a)		7,210,581
Utilities		5,418,170		1,576,819		—			6,994,989
Real Estate		6,212,707		469,845		—			6,682,552
Corporates - Non-Investment Grade		—		28,074,102		8,102	(a)		28,082,204
Governments - Treasuries		—		17,867,048		—			17,867,048
Investment Companies		11,335,285		—		—			11,335,285
Corporates - Investment Grade		—		7,661,149		—			7,661,149
Emerging Markets - Sovereigns		—		4,220,466		—			4,220,466
Bank Loans		—		3,473,872		261,090			3,734,962
Emerging Markets - Corporate Bonds		—		3,318,885		43			3,318,928
Collateralized Loan Obligations		—		2,535,988		—			2,535,988
Collateralized Mortgage Obligations		—		2,167,636		—			2,167,636
Quasi-Sovereigns		—		475,076		—			475,076
Governments - Sovereign Bonds		—		456,821		—			456,821
Commercial Mortgage-Backed Securities		—		233,866		—			233,866
Preferred Stocks		113,460		—		120,105			233,565
Emerging Markets - Treasuries		—		159,700		—			159,700

60

Warrants		94			—			60,445		60,539
Mortgage Pass-Throughs		—			78			—		78
Rights		40			—			—		40
Short-Term Investments:
Investment Companies		107,830,660			—			—		107,830,660
U.S. Treasury Bills		—			1,687,994			—		1,687,994
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		1,840,737			—			—		1,840,737
Total Investments in Securities		344,725,518			134,341,168			641,590		479,708,276
Other Financial Instruments(b):
Assets:
Futures		2,064,198			—			—		2,064,198
Forward Currency Exchange Contracts		—			1,045,404			—		1,045,404
Centrally Cleared Interest Rate Swaps		—			130,369			—		130,369
Centrally Cleared Credit Default Swaps		—			360,216			—		360,216
Credit Default Swaps		—			367,456			—		367,456
Total Return Swaps		—			2,120,177			—		2,120,177
Variance Swaps		—			324,520			—		324,520
Liabilities:
Futures		(4,674,343	)		—			—		(4,674,343	)
Forward Currency Exchange
Contracts		—			(2,172,929	)		—		(2,172,929	)
Centrally Cleared Interest Rate Swaps		—			(437,479	)		—		(437,479	)
Centrally Cleared Credit Default
Swaps		—			(423,761	)		—		(423,761	)
Credit Default Swaps		—			(1,201,440	)		—		(1,201,440	)
Total Return Swaps		—			(375,805	)		—		(375,805	)
Variance Swaps		—			(393,942	)		—		(393,942	)
Total	$	342,115,373		$	133,683,954		$	641,590	$	476,440,917

^(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 November 30, 2022 is as follows:

Fund	Market Value 08/31/2022 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 11/30/2022 (000)		Dividend Income (000)
Government Money Market Portfolio	$	75,289	$	90,618	$	58,076	$	107,831	$	502
Government Money Market Portfolio*		5,352		28,866		32,377		1,841		27
Total	$	80,641	$	119,484	$	90,453	$	109,672	$	529

* Investments of cash collateral for securities lending transactions

61