NPORT-EX 2 NPORT_6361813935868865.htm HTML[877387.FFUST]

AB Cap Fund, Inc.

AB FlexFee US Thematic Portfolio

Portfolio of Investments

March 31, 2020 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 95.4%

        

Information Technology – 32.6%

        

Communications Equipment – 3.7%

        

Ciena Corp.(a)

      43,235        $ 1,721,185  

Lumentum Holdings, Inc.(a) (b)

      13,637          1,005,047  
       

 

 

  
          2,726,232  
       

 

 

  

Electronic Equipment, Instruments & Components – 3.6%

        

Flex Ltd.(a)

      188,260          1,576,677  

Keysight Technologies, Inc.(a)

      13,432          1,123,990  
       

 

 

  
          2,700,667  
       

 

 

  

IT Services – 6.2%

        

PayPal Holdings, Inc.(a)

      13,956          1,336,148  

Square, Inc. - Class A(a)

      22,616          1,184,626  

Visa, Inc. - Class A

      12,658          2,039,457  
       

 

 

  
          4,560,231  
       

 

 

  

Semiconductors & Semiconductor Equipment – 6.0%

        

Cree, Inc.(a) (b)

      28,595          1,013,979  

Monolithic Power Systems, Inc.

      5,701          954,689  

NVIDIA Corp.

      4,561          1,202,280  

NXP Semiconductors NV(b)

      15,363          1,274,053  
       

 

 

  
          4,445,001  
       

 

 

  

Software – 10.3%

        

ANSYS, Inc.(a)

      5,725          1,330,891  

Microsoft Corp.

      12,712          2,004,809  

Proofpoint, Inc.(a)

      13,065          1,340,338  

salesforce.com, Inc.(a)

      14,419          2,076,048  

Zendesk, Inc.(a)

      13,453          861,127  
       

 

 

  
          7,613,213  
       

 

 

  

Technology Hardware, Storage & Peripherals – 2.8%

        

Apple, Inc.

      8,225          2,091,535  
       

 

 

  
              24,136,879  
       

 

 

  

Health Care – 16.7%

        

Health Care Equipment & Supplies – 7.3%

        

Danaher Corp.

      13,962          1,932,481  

Koninklijke Philips NV (ADR)

      50,370          2,022,859  

West Pharmaceutical Services, Inc.

      9,420          1,434,195  
       

 

 

  
          5,389,535  
       

 

 

  

Health Care Providers & Services – 3.3%

        

Laboratory Corp. of America Holdings(a)

      10,473          1,323,682  

UnitedHealth Group, Inc.

      4,660          1,162,111  
       

 

 

  
          2,485,793  
       

 

 

  

Life Sciences Tools & Services – 6.1%

        

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

      5,809          2,036,403  

Bruker Corp.

      34,584          1,240,182  

ICON PLC(a)

      9,058          1,231,888  
       

 

 

  
          4,508,473  
       

 

 

  
          12,383,801  
       

 

 

  
Company    Shares        U.S. $ Value  

Consumer Discretionary – 15.2%

        

Auto Components – 1.5%

        

Aptiv PLC

      23,128        $ 1,138,823  
       

 

 

  

Automobiles – 1.7%

        

Tesla, Inc.(a)

      2,456          1,286,944  
       

 

 

  

Diversified Consumer Services – 1.7%

        

Bright Horizons Family Solutions, Inc.(a)

      12,665          1,291,830  
       

 

 

  

Hotels, Restaurants & Leisure – 1.6%

        

Starbucks Corp.

      18,498          1,216,059  
       

 

 

  

Internet & Direct Marketing Retail – 2.3%

        

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

      8,549          1,662,610  
       

 

 

  

Specialty Retail – 2.1%

        

Home Depot, Inc. (The)

      8,126          1,517,205  
       

 

 

  

Textiles, Apparel & Luxury Goods – 4.3%

        

Lululemon Athletica, Inc.(a) (b)

      7,174          1,359,832  

NIKE, Inc. - Class B

      22,186          1,835,669  
       

 

 

  
          3,195,501  
       

 

 

  
              11,308,972  
       

 

 

  

Industrials – 10.4%

        

Building Products – 1.7%

        

Trex Co., Inc.(a)

      15,505          1,242,571  
       

 

 

  

Commercial Services & Supplies – 2.0%

        

Waste Management, Inc.

      15,973          1,478,461  
       

 

 

  

Electrical Equipment – 4.3%

        

Rockwell Automation, Inc.

      11,170          1,685,664  

Vestas Wind Systems A/S (Sponsored ADR)

      56,456          1,538,539  
       

 

 

  
          3,224,203  
       

 

 

  

Machinery – 2.4%

        

Xylem, Inc./NY

      27,216          1,772,578  
       

 

 

  
          7,717,813  
       

 

 

  

Financials – 8.3%

        

Capital Markets – 6.9%

        

Charles Schwab Corp. (The)

      30,922          1,039,598  

Intercontinental Exchange, Inc.

      21,095          1,703,421  

MSCI, Inc. - Class A

      8,180          2,363,693  
       

 

 

  
          5,106,712  
       

 

 

  

Insurance – 1.4%

        

Aflac, Inc.

      29,840          1,021,721  
       

 

 

  
          6,128,433  
       

 

 

  
Company    Shares        U.S. $ Value  

Consumer Staples – 4.6%

        

Food Products – 2.6%

        

Nestle SA (Sponsored ADR)

      18,549        $ 1,910,362  
       

 

 

  

Household Products – 2.0%

        

Procter & Gamble Co. (The)

      13,973          1,537,030  
       

 

 

  
          3,447,392  
       

 

 

  

Utilities – 4.4%

        

Electric Utilities – 2.0%

        

NextEra Energy, Inc.

      6,017          1,447,811  
       

 

 

  

Water Utilities – 2.4%

        

American Water Works Co., Inc.

      15,173          1,814,084  
       

 

 

  
          3,261,895  
       

 

 

  

Materials – 2.0%

        

Chemicals – 2.0%

        

Ecolab, Inc.

      9,367          1,459,660  
       

 

 

  

Communication Services – 1.2%

        

Entertainment – 1.2%

        

Walt Disney Co. (The)

      9,352          903,403  
       

 

 

  

Total Common Stocks
(cost $66,912,960)

               70,748,248  
       

 

 

  

SHORT-TERM INVESTMENTS – 0.5%

        

Investment Companies – 0.5%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(c) (d) (e)
(cost $347,333)

      347,333          347,333  
       

 

 

  

Total Investments Before Security Lending Collateral for Securities Loaned – 95.9%
(cost $67,260,293)

           71,095,581  
       

 

 

  

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 5.9%

        

Investment Companies – 5.9%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.53%(c) (d) (e)
(cost $4,416,640)

      4,416,640          4,416,640  
       

 

 

  

Total Investments – 101.8%
(cost $71,676,933)(f)

           75,512,221  

Other assets less liabilities – (1.8)%

           (1,366,161 ) 
       

 

 

  

Net Assets – 100.0%

         $ 74,146,060  
       

 

 

  

 

(a)

Non-income producing security.

(b)

Represents entire or partial securities out on loan.

(c)

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

(d)

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.

(e)

Affiliated investments.

(f)

As of March 31, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $9,495,428 and gross unrealized depreciation of investments was $(5,660,140), resulting in net unrealized appreciation of $3,835,288.

Glossary:

ADR – American Depositary Receipt

AB Cap Fund, Inc.

AB FlexFee US Thematic Portfolio

March 31, 2020 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the 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 March 31, 2020:

 

Investments in Securities

    Level 1      Level 2      Level 3      Total  
Assets:            
Common Stocks^    $     70,748,248      $                 -0-      $                 -0-      $     70,748,248  
Short-Term Investments:            

Investment Companies

      347,333        -0-        -0-        347,333  
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund      4,416,640        -0-        -0-        4,416,640  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      75,512,221        -0-        -0-        75,512,221  
Other Financial Instruments*      -0-        -0-        -0-        -0-  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $ 75,512,221      $ -0-      $ -0-      $ 75,512,221  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

^

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 three months ended March 31, 2020 is as follows:

 

Fund   

Market Value

12/31/19
(000)

      Purchases
at Cost
(000)		      Sales
Proceeds
(000)		      Market Value
3/31/20
(000)		      Dividend
Income
(000)		  
Government Money Market Portfolio    $     6,422      $     14,570      $     20,645      $ 347      $ 23  
Government Money Market Portfolio*      185        7,199        2,967        4,417        0 ** 
Total                               $     4,764      $     23  

 

*

Investment of cash collateral for securities lending transactions.

 

**

Amount is less than $500.