NPORT-EX 2 NPORT_3824513222929766.htm HTML

AB Cap Fund, Inc.

AB Small Cap Value Portfolio

Portfolio of Investments

August 31, 2020 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 97.2%

 

Financials – 24.8%

 

Banks – 15.8%

 

1st Source Corp.

      76,196        $ 2,624,952  

Associated Banc-Corp.

      208,007          2,795,614  

Bank of Marin Bancorp

      77,292          2,460,204  

Carter Bank & Trust

      258,437          1,832,318  

First Horizon National Corp.

      332,720          3,177,476  

Harborone Northeast Bancorp(a)

      376,215          3,254,260  

Heritage Financial Corp./WA

      154,482          3,080,371  

Independent Bank Group, Inc.

      78,750          3,661,875  

Pacific Premier Bancorp, Inc.

      132,914          3,002,527  

Sandy Spring Bancorp, Inc.

      105,161          2,515,451  

Sterling Bancorp/DE

      219,900          2,566,233  

Synovus Financial Corp.

      166,045          3,631,404  

Texas Capital Bancshares, Inc.(a)

      92,265          2,988,463  

TriCo Bancshares

      119,263          3,302,393  

Umpqua Holdings Corp.

      246,224          2,777,407  

Webster Financial Corp.

      128,643          3,537,683  

Zions Bancorp NA

      73,423          2,361,284  
       

 

 

  
                49,569,915  
       

 

 

  

Capital Markets – 1.4%

 

Moelis & Co.

      119,448          3,811,586  

Stifel Financial Corp.

      9,030          457,911  
       

 

 

  
          4,269,497  
       

 

 

  

Insurance – 3.7%

 

First American Financial Corp.

      54,239          2,851,344  

Hanover Insurance Group, Inc. (The)

      36,580          3,749,084  

Selective Insurance Group, Inc.

      65,192          3,899,134  

State Auto Financial Corp.

      71,952          1,110,220  
       

 

 

  
          11,609,782  
       

 

 

  

Thrifts & Mortgage Finance – 3.9%

 

BankUnited, Inc.

      225,823          5,279,742  

Essent Group Ltd.

      89,848          3,207,573  

WSFS Financial Corp.

      133,883          3,922,772  
       

 

 

  
          12,410,087  
       

 

 

  
          77,859,281  
       

 

 

  

Consumer Discretionary – 20.5%

 

Auto Components – 2.5%

 

Cooper Tire & Rubber Co.

      75,554          2,611,902  

Dana, Inc.

      367,826          5,131,172  
       

 

 

  
          7,743,074  
       

 

 

  

Diversified Consumer Services – 2.1%

 

Hillenbrand, Inc.

      85,560          2,713,107  

Houghton Mifflin Harcourt Co.(a)

      576,545          1,302,992  

Regis Corp.(a) (b)

      331,862          2,452,460  
       

 

 

  
          6,468,559  
       

 

 

  

Hotels, Restaurants & Leisure – 4.4%

 

El Pollo Loco Holdings, Inc.(a) (b)

      281,779          5,035,391  

 

1

Company    Shares        U.S. $ Value  

Papa John’s International, Inc.

      53,781        $ 5,286,135  

Ruth’s Hospitality Group, Inc.

      354,289          3,640,319  
       

 

 

  
                13,961,845  
       

 

 

  

Household Durables – 2.9%

 

KB Home

      149,590          5,349,339  

Taylor Morrison Home Corp. - Class A(a)

      160,378          3,773,694  
       

 

 

  
          9,123,033  
       

 

 

  

Leisure Products – 2.8%

 

Callaway Golf Co.

      264,568          5,518,889  

Malibu Boats, Inc.(a)

      63,577          3,296,467  
       

 

 

  
          8,815,356  
       

 

 

  

Specialty Retail – 2.9%

 

Citi Trends, Inc.

      151,351          2,925,615  

Foot Locker, Inc.

      88,510          2,684,508  

Williams-Sonoma, Inc.

      40,590          3,562,178  
       

 

 

  
          9,172,301  
       

 

 

  

Textiles, Apparel & Luxury Goods – 2.9%

 

Crocs, Inc.(a)

      75,646          3,019,032  

Oxford Industries, Inc.

      77,275          3,827,431  

Skechers U.S.A., Inc. - Class A(a)

      80,207          2,394,179  
       

 

 

  
          9,240,642  
       

 

 

  
          64,524,810  
       

 

 

  

Industrials – 16.7%

 

Aerospace & Defense – 0.9%

 

AAR Corp.

      138,714          2,799,248  
       

 

 

  

Airlines – 1.4%

 

SkyWest, Inc.

      127,246          4,281,828  
       

 

 

  

Building Products – 1.2%

 

Masonite International Corp.(a)

      42,983          3,923,918  
       

 

 

  

Commercial Services & Supplies – 0.7%

 

Knoll, Inc.

      173,162          2,228,595  
       

 

 

  

Construction & Engineering – 1.4%

 

Primoris Services Corp.

      228,643          4,357,936  
       

 

 

  

Electrical Equipment – 3.2%

 

EnerSys

      57,771          4,158,357  

Regal Beloit Corp.

      59,340          5,866,352  
       

 

 

  
          10,024,709  
       

 

 

  

Machinery – 5.1%

 

Blue Bird Corp.(a)

      212,600          2,419,388  

Kennametal, Inc.

      169,995          4,933,255  

REV Group, Inc.

      136,531          1,058,115  

Shey Group , Inc. (The)

      220,750          4,408,377  

Terex Corp.

      163,110          3,192,063  
       

 

 

  
          16,011,198  
       

 

 

  

 

2

Company    Shares        U.S. $ Value  

Trading Companies & Distributors – 2.8%

 

GATX Corp.

      62,670        $ 4,191,370  

Herc Holdings, Inc.(a)

      52,884          2,165,600  

MRC Global, Inc.(a)

      422,796          2,405,709  
       

 

 

  
          8,762,679  
       

 

 

  
                52,390,111  
       

 

 

  

Information Technology – 8.8%

 

Communications Equipment – 1.6%

 

Casa Systems, Inc.(a)

      478,161          2,175,632  

Extreme Networks, Inc.(a)

      121,907          532,734  

NetScout Systems, Inc.(a)

      94,402          2,184,462  
       

 

 

  
          4,892,828  
       

 

 

  

Electronic Equipment, Instruments & Components – 2.1%

 

Belden, Inc.

      106,942          3,601,806  

TTM Technologies, Inc.(a)

      54,908          629,246  

Vishay Intertechnology, Inc.

      154,820          2,475,572  
       

 

 

  
          6,706,624  
       

 

 

  

IT Services – 1.2%

 

CSG Systems International, Inc.

      39,644          1,687,645  

Unisys Corp.(a)

      187,977          2,191,812  
       

 

 

  
          3,879,457  
       

 

 

  

Semiconductors & Semiconductor Equipment – 1.5%

 

Kulicke & Soffa Industries, Inc.

      95,290          2,285,054  

MagnaChip Semiconductor Corp.(a) (b)

      203,048          2,436,576  
       

 

 

  
          4,721,630  
       

 

 

  

Software – 1.7%

 

A10 Networks, Inc.(a)

      228,490          1,953,590  

CommVault Systems, Inc.(a)

      77,202          3,337,442  
       

 

 

  
          5,291,032  
       

 

 

  

Technology Hardware, Storage & Peripherals – 0.7%

 

NCR Corp.(a)

      103,427          2,114,048  
       

 

 

  
          27,605,619  
       

 

 

  

Real Estate – 8.0%

 

Equity Real Estate Investment Trusts (REITs) – 8.0%

 

Armada Hoffler Properties, Inc.

      184,828          1,866,763  

City Office REIT, Inc.

      228,865          1,840,075  

Cousins Properties, Inc.

      107,123          3,197,622  

Independence Realty Trust, Inc.

      340,699          3,989,585  

National Storage Affiliates Trust

      88,490          3,036,092  

Physicians Realty Trust

      214,236          3,888,383  

RLJ Lodging Trust

      258,590          2,441,090  

STAG Industrial, Inc.

      149,005          4,812,861  
       

 

 

  
          25,072,471  
       

 

 

  

 

3

Company    Shares        U.S. $ Value  

Materials – 4.7%

 

Chemicals – 2.5%

 

GCP Applied Technologies, Inc.(a)

      63,160        $ 1,645,950  

Orion Engineered Carbons SA

      327,454          3,978,566  

Trinseo SA

      91,284          2,273,884  
       

 

 

  
          7,898,400  
       

 

 

  

Containers & Packaging – 1.0%

 

Graphic Packaging Holding Co.

      233,161          3,259,591  
       

 

 

  

Metals & Mining – 1.2%

 

Carpenter Technology Corp.

      114,995          2,418,345  

Schnitzer Steel Industries, Inc. - Class A

      66,354          1,309,828  
       

 

 

  
          3,728,173  
       

 

 

  
                14,886,164  
       

 

 

  

Consumer Staples – 3.9%

 

Beverages – 1.2%

 

Primo Water Corp.

      272,571          3,728,771  
       

 

 

  

Food Products – 2.7%

 

Hain Celestial Group, Inc. (The)(a) (b)

      129,224          4,237,255  

Nomad Foods Ltd.(a)

      180,559          4,452,585  
       

 

 

  
          8,689,840  
       

 

 

  
          12,418,611  
       

 

 

  

Energy – 3.2%

 

Energy Equipment & Services – 3.2%

 

Cactus, Inc. - Class A

      161,310          3,563,338  

Dril-Quip, Inc.(a)

      106,510          3,528,676  

Helix Energy Solutions Group, Inc.(a)

      792,746          2,838,031  
       

 

 

  
          9,930,045  
       

 

 

  

Utilities – 3.1%

 

Electric Utilities – 1.1%

 

PNM Resources, Inc.

      78,387          3,423,944  
       

 

 

  

Gas Utilities – 1.1%

 

Southwest Gas Holdings, Inc.

      54,900          3,451,563  
       

 

 

  

Multi-Utilities – 0.9%

 

Black Hills Corp.

      52,961          2,970,053  
       

 

 

  
          9,845,560  
       

 

 

  

Health Care – 2.4%

 

Health Care Providers & Services – 1.3%

 

Molina Healthcare, Inc.(a)

      21,387          3,955,954  
       

 

 

  

Life Sciences Tools & Services – 1.1%

 

ICON PLC(a)

      19,015          3,544,586  
       

 

 

  
          7,500,540  
       

 

 

  

Communication Services – 1.1%

 

Media – 1.1%

 

Criteo SA (Sponsored ADR)(a)

      264,507          3,443,881  
       

 

 

  

 

4

Company    Shares        U.S. $ Value  

Total Common Stocks
(cost $338,148,255)

         $ 305,477,093  
       

 

 

  

SHORT-TERM INVESTMENTS – 2.5%

 

Investment Companies – 2.5%

 

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.08%(c) (d) (e)
(cost $7,720,915)

      7,720,915          7,720,915  
       

 

 

  

Total Investments Before Security Lending Collateral for Securities Loaned – 99.7%
(cost $345,869,170)

 

        313,198,008  
       

 

 

  

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.0%

 

Investment Companies – 0.0%

 

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.08%(c) (d) (e)
(cost $75,480)

      75,480          75,480  
       

 

 

  

Total Investments – 99.7%
(cost $345,944,650)(f)

 

        313,273,488  

Other assets less liabilities – 0.3%

           908,037  
       

 

 

  

Net Assets – 100.0%

         $       314,181,525  
       

 

 

  

 

(a)

Non-income producing security.

(b)

Represents entire or partial securities out on loan.

(c)

Affiliated investments.

(d)

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

(e)

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.

(f)

As of August 31, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $29,299,946 and gross unrealized depreciation of investments was $(61,971,108), resulting in net unrealized depreciation of $(32,671,162).

 

  

Please note: The sector classifications presented herein are based on the Global Industry Classification Standard (GICS) which was developed by Morgan Stanley Capital International and Standard & Poor’s. The components are divided into sector, industry group, and industry sub-indices as classified by the GICS for each of the market capitalization indices in the broad market.

Glossary:

ADR – American Depositary Receipt

REIT – Real Estate Investment Trust

 

5

AB Cap Fund, Inc.

AB Small Cap Value Portfolio

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

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of August 31, 2020:

 

Investments in Securities:

    Level 1      Level 2      Level 3      Total  
Assets:

 

Common Stocks(a)    $ 305,477,093      $                 —      $                 —      $ 305,477,093  
Short-Term Investments      7,720,915                        —                        —        7,720,915  
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund      75,480                        —                        —        75,480  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      313,273,488                        —                        —        313,273,488  
Other Financial Instruments(b)                      —                        —                        —                        —  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $     313,273,488      $                 —      $                 —      $     313,273,488  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a) 

See Portfolio of Investments for sector classifications.

 

6

(b) 

Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation/(depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, 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 August 31, 2020 is as follows:

 

Fund   

Market Value

11/30/2019

(000)

     

Purchases

at Cost

(000)

     

Sales

Proceeds

(000)

     

Market Value

08/31/2020

(000)

     

Dividend

Income

(000)

  
Government Money Market Portfolio    $     15,454      $     63,072      $     70,805      $     7,721      $     37  
Government Money Market Portfolio*      464        1,587        1,976        75        2  
Total    $ 15,918      $ 64,659      $ 72,780      $ 7,796      $ 39  

 

*

Investments of cash collateral for securities lending transactions

 

7