NPORT-EX 2 3119.HTM HTML

AB Cap Fund, Inc.

AB FlexFee US Thematic Portfolio

Portfolio of Investments

September 30, 2019 (unaudited)

 

Company

    Shares        U.S. $ Value  

COMMON STOCKS - 94.6%

 

Information Technology - 23.7%

 

Communications Equipment - 2.9%

 

Ciena Corp. (a)

      35,604        $ 1,396,745  

Lumentum Holdings, Inc. (a)

      24,112          1,291,439  
       

 

 

  
          2,688,184  
       

 

 

  

Electronic Equipment, Instruments & Components - 1.1%

 

Keysight Technologies, Inc. (a)

      10,576          1,028,516  
       

 

 

  

IT Services - 6.0%

 

PayPal Holdings, Inc. (a)

      11,186          1,158,758  

Square, Inc.-Class A (a)

      20,170          1,249,531  

Visa, Inc.-Class A

      17,971          3,091,192  
       

 

 

  
          5,499,481  
       

 

 

  

Semiconductors & Semiconductor Equipment - 2.3%

 

Monolithic Power Systems, Inc.

      6,405          996,810  

NVIDIA Corp.

      6,663          1,159,829  
       

 

 

  
          2,156,639  
       

 

 

  

Software - 9.1%

 

ANSYS, Inc. (a)

      6,508          1,440,611  

Microsoft Corp.

           17,962          2,497,257  

Proofpoint, Inc. (a)

      11,493          1,483,171  

salesforce.com, Inc. (a)

      12,679          1,882,071  

Zendesk, Inc. (a)

      15,364          1,119,728  
       

 

 

  
          8,422,838  
       

 

 

  

Technology Hardware, Storage & Peripherals - 2.3%

 

Apple, Inc.

      9,300          2,082,921  
       

 

 

  
          21,878,579  
       

 

 

  

Health Care - 18.1%

 

Health Care Equipment & Supplies - 8.3%

 

Abbott Laboratories

      16,140          1,350,434  

Danaher Corp.

      18,530          2,676,288  

Koninklijke Philips NV (ADR)

      38,610          1,781,079  

West Pharmaceutical Services, Inc.

      12,872          1,825,507  
       

 

 

  
          7,633,308  
       

 

 

  

Health Care Providers & Services - 1.9%

 

UnitedHealth Group, Inc.

      7,993          1,737,039  
       

 

 

  

Life Sciences Tools & Services - 7.9%

 

Bio-Rad Laboratories, Inc.-Class A (a)

      6,580          2,189,429  

Bruker Corp.

      39,296          1,726,273  

ICON PLC (a)

      10,309          1,518,928  

QIAGEN NV (a)

      56,062          1,848,364  
       

 

 

  
          7,282,994  
       

 

 

  
          16,653,341  
       

 

 

  

Company

    Shares        U.S. $ Value  

Consumer Discretionary - 16.4%

 

Auto Components - 2.0%

 

Aptiv PLC

      20,689        $ 1,808,632  
       

 

 

  

Diversified Consumer Services - 2.0%

 

Bright Horizons Family Solutions, Inc. (a)

      11,775          1,795,688  
       

 

 

  

Internet & Direct Marketing Retail - 5.5%

 

Alibaba Group Holding Ltd. (Sponsored ADR) (a)

      9,739          1,628,653  

Amazon.com, Inc. (a)

      1,424          2,471,936  

Etsy, Inc. (a)

      17,922          1,012,593  
       

 

 

  
          5,113,182  
       

 

 

  

Specialty Retail - 3.2%

 

Home Depot, Inc. (The)

      7,773          1,803,491  

Ulta Salon Cosmetics & Fragrance, Inc. (a)

      4,646          1,164,520  
       

 

 

  
          2,968,011  
       

 

 

  

Textiles, Apparel & Luxury Goods - 3.7%

 

NIKE, Inc.-Class B

      17,305          1,625,286  

VF Corp.

      20,045          1,783,804  
       

 

 

  
          3,409,090  
       

 

 

  
          15,094,603  
       

 

 

  

Financials - 8.7%

 

Capital Markets - 6.8%

 

Charles Schwab Corp. (The)

           35,532          1,486,304  

Intercontinental Exchange, Inc.

      23,819          2,197,779  

MSCI, Inc.-Class A

      12,037          2,621,057  
       

 

 

  
          6,305,140  
       

 

 

  

Insurance - 1.9%

 

Aflac, Inc.

      33,648          1,760,463  
       

 

 

  
          8,065,603  
       

 

 

  

Industrials - 7.8%

 

Aerospace & Defense - 1.8%

 

Hexcel Corp.

      19,818          1,627,652  
       

 

 

  

Electrical Equipment - 3.4%

 

Rockwell Automation, Inc.

      7,520          1,239,296  

Vestas Wind Systems A/S (Sponsored ADR)

      71,936          1,860,984  
       

 

 

  
          3,100,280  
       

 

 

  

Machinery - 2.6%

 

Xylem, Inc./NY

      30,717          2,445,688  
       

 

 

  
          7,173,620  
       

 

 

  

Utilities - 6.0%

 

Electric Utilities - 1.9%

 

NextEra Energy, Inc.

      7,545          1,757,910  
       

 

 

  

Water Utilities - 4.1%

 

American Water Works Co., Inc.

      17,086          2,122,594  

Aqua America, Inc.

      36,463          1,634,636  
       

 

 

  
          3,757,230  
       

 

 

  
          5,515,140  
       

 

 

  

Company

    Shares        U.S. $ Value  

Communication Services - 4.4%

 

Diversified Telecommunication Services - 2.0%

 

Comcast Corp.-Class A

      42,316        $ 1,907,605  
       

 

 

  

Entertainment - 2.4%

 

Walt Disney Co. (The)

      16,812          2,190,940  
       

 

 

  
          4,098,545  
       

 

 

  

Consumer Staples - 4.1%

 

Food Products - 2.5%

 

Nestle SA (Sponsored ADR)

      20,799          2,254,612  
       

 

 

  

Household Products - 1.6%

 

Procter & Gamble Co. (The)

      11,963          1,487,958  
       

 

 

  
          3,742,570  
       

 

 

  

Materials - 2.3%

 

Chemicals - 2.3%

 

Ecolab, Inc.

      10,629          2,104,967  
       

 

 

  

Real Estate - 1.9%

 

Equity Real Estate Investment Trusts (REITs) - 1.9%

 

SBA Communications Corp.

      7,283          1,756,295  
       

 

 

  

Energy - 1.2%

 

Oil, Gas & Consumable Fuels - 1.2%

 

EOG Resources, Inc.

      15,058          1,117,605  
       

 

 

  

Total Common Stocks
(cost $74,690,314)

           87,200,868  
       

 

 

  

SHORT-TERM INVESTMENTS - 5.4%

 

Investment Companies - 5.4%

 

AB Fixed Income Shares, Inc.-Government Money Market
Portfolio-Class AB, 1.89% (b)(c)(d)
(cost $4,962,882)

      4,962,882          4,962,882  
       

 

 

  

Total Investments - 100.0%
(cost $79,653,196) (e)

 

        92,163,750  

Other assets less liabilities - 0.0%

           (385 ) 
       

 

 

  

Net Assets - 100.0%

         $ 92,163,365  
       

 

 

  

 

(a)

Non-income producing security.

(b)

To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov, or call AB at (800) 227-4618.

(c)

Affiliated investments.

(d)

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

(e)

As of September 30, 2019, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $14,420,306 and gross unrealized depreciation of investments was $(1,909,752), resulting in net unrealized appreciation of $12,510,554.

Glossary:

 

ADR    -    American Depositary Receipt

AB Cap Fund, Inc.

AB FlexFee US Thematic Portfolio

September 30, 2019 (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)

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, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of                 September 30, 2019:

 

Investments in Securities

    Level 1     Level 2     Level 3     Total  

Assets:

         

Common Stocks^

   $ 87,200,868     $ – 0  –    $ – 0  –    $ 87,200,868  

Short-Term Investments:

         

Investment Companies

      4,962,882       – 0  –      – 0  –      4,962,882  
  

 

 

    

 

 

    

 

 

    

 

 

  

Total Investments in Securities

      92,163,750       – 0  –      – 0  –      92,163,750  

Other Financial Instruments*

      – 0  –      – 0  –      – 0  –      – 0  – 
  

 

 

    

 

 

    

 

 

    

 

 

  

Total

    $     92,163,750     $             – 0  –    $             – 0  –    $     92,163,750  
  

 

 

    

 

 

    

 

 

    

 

 

  

 

^

See Portfolio of Investments for sector classifications.

*

Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/(depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, options written and swaptions written which are valued at market value.

A summary of the Fund’s transactions in AB mutual funds for the nine months ended September 30, 2019 is as follows:

 

Fund

    Market Value
12/31/18
(000)		      Purchases
at Cost
(000)		      Sales
Proceeds
(000)		      Market Value
9/30/19
(000)		     Dividend
Income
(000)		  

Government Money Market Portfolio

    $     4,002      $     19,152      $     18,191      $ 4,963     $ 101  

Government Money Market Portfolio*

      1,118        3,805        4,923        – 0  –      6  
           

 

 

    

 

 

  

Total

             $     4,963     $     107  
           

 

 

    

 

 

  

 

*

Investment of cash collateral for securities lending transactions.