NPORT-EX 2 NPORT_344206092601773.htm HTML

AB Cap Fund, Inc.

AB Concentrated Growth Fund

Portfolio of Investments

September 30, 2020 (unaudited)

 

Company    Shares        U.S. $ Value  

COMMON STOCKS – 98.6%

        

Information Technology – 29.8%

        

Electronic Equipment, Instruments & Components – 8.8%

        

Amphenol Corp. - Class A

                367,677        $ 39,808,389  

CDW Corp./DE

      298,102          35,632,132  
       

 

 

  
          75,440,521  
       

 

 

  

IT Services – 12.2%

        

Automatic Data Processing, Inc.

      203,718          28,416,624  

Mastercard, Inc. - Class A

      223,735          75,660,465  
       

 

 

  
              104,077,089  
       

 

 

  

Software – 8.8%

        

Microsoft Corp.

      355,638          74,801,340  
       

 

 

  
          254,318,950  
       

 

 

  

Health Care – 21.7%

        

Health Care Equipment & Supplies – 7.8%

        

Abbott Laboratories

      608,568          66,230,455  
       

 

 

  

Life Sciences Tools & Services – 7.9%

        

IQVIA Holdings, Inc.(a)

      429,649          67,725,572  
       

 

 

  

Pharmaceuticals – 6.0%

        

Zoetis, Inc.

      306,497          50,685,409  
       

 

 

  
          184,641,436  
       

 

 

  

Consumer Discretionary – 16.8%

        

Auto Components – 4.8%

        

Aptiv PLC

      443,038          40,617,724  
       

 

 

  

Specialty Retail – 6.9%

        

TJX Cos., Inc. (The)

      699,506          38,927,509  

Ulta Beauty, Inc.(a)

      88,474          19,816,407  
       

 

 

  
          58,743,916  
       

 

 

  

Textiles, Apparel & Luxury Goods – 5.1%

        

NIKE, Inc. - Class B

      349,906          43,927,199  
       

 

 

  
          143,288,839  
       

 

 

  

Industrials – 11.6%

        

Building Products – 2.6%

        

Allegion PLC

      229,803          22,729,815  
       

 

 

  

Commercial Services & Supplies – 4.6%

        

Stericycle, Inc.(a) (b)

      619,015          39,035,086  
       

 

 

  

Professional Services – 4.4%

        

Verisk Analytics, Inc. - Class A

      201,259          37,295,305  
       

 

 

  
          99,060,206  
       

 

 

  

Communication Services – 8.6%

        

Interactive Media & Services – 8.6%

        

Alphabet, Inc. - Class C(a)

      23,660          34,770,736  

Facebook, Inc. - Class A(a)

      146,056          38,252,066  
       

 

 

  
          73,022,802  
       

 

 

  

 

1

Company    Shares        U.S. $ Value  

Financials – 4.4%

        

Capital Markets – 4.4%

        

Charles Schwab Corp. (The)

      1,031,980        $ 37,388,635  
       

 

 

  

Materials – 4.2%

        

Chemicals – 4.2%

        

International Flavors & Fragrances, Inc.

      293,409          35,927,932  
       

 

 

  

Real Estate – 1.5%

        

Equity Real Estate Investment Trusts (REITs) – 1.5%

        

American Tower Corp.

      52,550          12,702,912  
       

 

 

  

Total Common Stocks
(cost $596,131,605)

           840,351,712  
       

 

 

  

SHORT-TERM INVESTMENTS – 1.3%

        

Investment Companies – 1.3%

        

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.05%(c) (d) (e)
(cost $10,900,202)

           10,900,202          10,900,202  
       

 

 

  

Total Investments – 99.9%
(cost $607,031,807)(f)

           851,251,914  

Other assets less liabilities – 0.1%

           1,206,276  
       

 

 

  

Net Assets – 100.0%

         $     852,458,190  
       

 

 

  

 

(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 September 30, 2020, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $253,679,203 and gross unrealized depreciation of investments was $(9,459,096), resulting in net unrealized appreciation of $244,220,107.

     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:
REIT – Real Estate Investment Trust

 

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AB Cap Fund, Inc.

AB Concentrated Growth Fund

September 30, 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 September 30, 2020:

 

 

Investments in Securities:

    Level 1      Level 2      Level 3      Total  
Assets:            
Common Stocks(a)    $ 840,351,712      $                     —      $                     —      $ 840,351,712  
Short-Term Investments      10,900,202        —        —        10,900,202  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total Investments in Securities      851,251,914        —        —        851,251,914  
Other Financial Instruments(b)      —        —        —        —  
  

 

 

     

 

 

     

 

 

     

 

 

  
Total    $     851,251,914      $ —      $ —      $     851,251,914  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a) 

See Portfolio of Investments for sector classifications.

(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.

 

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A summary of the Fund’s transactions in AB mutual funds for the three months ended September 30, 2020 is as follows:

 

Fund    Market Value
06/30/2020
(000)		      Purchases
at Cost
(000)		      Sales
Proceeds
(000)		      Market Value
09/30/2020
(000)		      Dividend
Income
(000)		  
Government Money Market Portfolio    $     5,875      $     45,555      $     40,530      $     10,900      $     2  

 

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