AB Cap Fund, Inc.
AB FlexFee US Thematic Portfolio
Portfolio of Investments
March 31, 2021 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS 93.3% |
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Information Technology 35.3% |
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Communications Equipment 6.1% |
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Ciena Corp.(a) |
72,858 | $ | 3,986,790 | |||||
Lumentum Holdings, Inc.(a) |
46,997 | 4,293,176 | ||||||
Motorola Solutions, Inc. |
22,551 | 4,240,715 | ||||||
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12,520,681 | ||||||||
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Electronic Equipment, Instruments & Components 4.2% |
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Flex Ltd.(a) |
311,922 | 5,711,292 | ||||||
Keysight Technologies, Inc.(a) |
21,244 | 3,046,389 | ||||||
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8,757,681 | ||||||||
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IT Services 8.5% |
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MAXIMUS, Inc. |
39,022 | 3,474,519 | ||||||
PayPal Holdings, Inc.(a) |
18,015 | 4,374,763 | ||||||
Square, Inc. - Class A(a) |
15,095 | 3,427,320 | ||||||
Twilio, Inc. - Class A(a) |
6,052 | 2,062,279 | ||||||
Visa, Inc. - Class A |
20,052 | 4,245,610 | ||||||
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17,584,491 | ||||||||
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Semiconductors & Semiconductor Equipment 5.3% |
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Cree, Inc.(a) |
19,273 | 2,083,990 | ||||||
Monolithic Power Systems, Inc. |
5,744 | 2,028,838 | ||||||
NVIDIA Corp. |
3,795 | 2,026,264 | ||||||
NXP Semiconductors NV |
24,336 | 4,899,810 | ||||||
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11,038,902 | ||||||||
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Software 9.0% |
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Adobe, Inc.(a) |
8,636 | 4,105,295 | ||||||
ANSYS, Inc.(a) |
9,073 | 3,080,828 | ||||||
Microsoft Corp. |
20,136 | 4,747,465 | ||||||
Proofpoint, Inc.(a) |
30,986 | 3,897,729 | ||||||
Zendesk, Inc.(a) |
21,309 | 2,826,000 | ||||||
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18,657,317 | ||||||||
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Technology Hardware, Storage & Peripherals 2.2% |
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Apple, Inc. |
36,795 | 4,494,509 | ||||||
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73,053,581 | ||||||||
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Health Care 18.3% |
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Health Care Equipment & Supplies 9.2% |
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Alcon, Inc.(a) |
61,875 | 4,342,388 | ||||||
Danaher Corp. |
22,117 | 4,978,094 | ||||||
Koninklijke Philips NV (ADR)(a) |
91,281 | 5,205,756 | ||||||
STERIS PLC |
23,252 | 4,429,041 | ||||||
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18,955,279 | ||||||||
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Health Care Providers & Services 4.1% |
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Laboratory Corp. of America Holdings(a) |
22,811 | 5,817,489 | ||||||
UnitedHealth Group, Inc. |
7,383 | 2,746,993 | ||||||
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8,564,482 | ||||||||
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Company | Shares | U.S. $ Value | ||||||
Life Sciences Tools & Services 5.0% |
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Bio-Rad Laboratories, Inc. - Class A(a) |
9,201 | $ | 5,255,335 | |||||
Bruker Corp. |
79,236 | 5,093,290 | ||||||
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10,348,625 | ||||||||
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37,868,386 | ||||||||
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Industrials 14.6% |
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Aerospace & Defense 1.8% |
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Hexcel Corp.(a) |
67,734 | 3,793,104 | ||||||
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Building Products 2.4% |
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Trex Co., Inc.(a) |
52,883 | 4,840,910 | ||||||
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Commercial Services & Supplies 3.8% |
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Tetra Tech, Inc. |
21,039 | 2,855,413 | ||||||
Waste Management, Inc. |
39,384 | 5,081,324 | ||||||
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7,936,737 | ||||||||
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Electrical Equipment 4.4% |
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Rockwell Automation, Inc. |
17,695 | 4,696,961 | ||||||
Vestas Wind Systems A/S (Sponsored ADR) |
63,206 | 4,409,882 | ||||||
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9,106,843 | ||||||||
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Machinery 2.2% |
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Xylem, Inc./NY |
43,112 | 4,534,520 | ||||||
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30,212,114 | ||||||||
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Consumer Discretionary 9.0% |
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Auto Components 2.4% |
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Aptiv PLC(a) |
36,634 | 5,051,829 | ||||||
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Household Durables 2.0% |
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TopBuild Corp.(a) |
19,598 | 4,104,409 | ||||||
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Specialty Retail 2.3% |
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Home Depot, Inc. (The) |
15,659 | 4,779,910 | ||||||
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Textiles, Apparel & Luxury Goods 2.3% |
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NIKE, Inc. - Class B |
35,144 | 4,670,286 | ||||||
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18,606,434 | ||||||||
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Financials 9.0% |
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Banks 2.6% |
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SVB Financial Group(a) |
10,790 | 5,326,591 | ||||||
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Capital Markets 4.3% |
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Intercontinental Exchange, Inc. |
40,570 | 4,530,858 | ||||||
MSCI, Inc. - Class A |
10,654 | 4,467,009 | ||||||
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8,997,867 | ||||||||
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Insurance 2.1% |
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Aflac, Inc. |
83,199 | 4,258,125 | ||||||
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18,582,583 | ||||||||
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Company | Shares | U.S. $ Value | ||||||
Utilities 4.1% |
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Electric Utilities 2.4% |
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NextEra Energy, Inc. |
65,836 | $ | 4,977,860 | |||||
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Water Utilities 1.7% |
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American Water Works Co., Inc. |
24,035 | 3,603,327 | ||||||
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8,581,187 | ||||||||
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Real Estate 1.6% |
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Equity Real Estate Investment Trusts (REITs) 1.6% |
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SBA Communications Corp. |
11,946 | 3,315,612 | ||||||
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Consumer Staples 1.4% |
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Household Products 1.4% |
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Procter & Gamble Co. (The) |
22,135 | 2,997,743 | ||||||
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Total Common Stocks |
193,217,640 | |||||||
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SHORT-TERM INVESTMENTS 5.8% |
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Investment Companies 5.8% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(b) (c) (d) |
11,986,142 | 11,986,142 | ||||||
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Total Investments 99.1% |
205,203,782 | |||||||
Other assets less liabilities 0.9% |
1,810,704 | |||||||
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Net Assets 100.0% |
$ | 207,014,486 | ||||||
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(a) | Non-income producing security. |
(b) | The rate shown represents the 7-day yield as of period end. |
(c) | To obtain a copy of the funds shareholder report, please go to the Securities and Exchange Commissions website at www.sec.gov, or call AB at (800) 227-4618. |
(d) | Affiliated investments. |
(e) | As of March 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $56,466,380 and gross unrealized depreciation of investments was $(162,344), resulting in net unrealized appreciation of $56,304,036. |
Glossary:
ADR American Depositary Receipt
REIT Real Estate Investment Trust
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AB Cap Fund, Inc.
AB FlexFee US Thematic Portfolio
March 31, 2021 (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 Funds 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 Funds 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 Funds investments by the above fair value hierarchy levels as of March 31, 2021:
Investments in Securities |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: | ||||||||||||||||
Common Stocks^ | $ | 193,217,640 | $ | -0- | $ | -0- | $ | 193,217,640 | ||||||||
Short-Term Investments: | ||||||||||||||||
Investment Companies |
11,986,142 | -0- | -0- | 11,986,142 | ||||||||||||
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Total Investments in Securities | 205,203,782 | -0- | -0- | 205,203,782 | ||||||||||||
Other Financial Instruments* | -0- | -0- | -0- | -0- | ||||||||||||
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Total | $ | 205,203,782 | $ | -0- | $ | -0- | $ | 205,203,782 | ||||||||
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^ | 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 Funds transactions in AB mutual funds for the three months ended March 31, 2021 is as follows:
Fund | Market Value 12/31/20 (000) |
Purchases at Cost (000) |
Sales Proceeds (000) |
Market Value 3/31/21 (000) |
Dividend Income (000) |
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Government Money Market Portfolio | $ | 9,523 | $ | 31,876 | $ | 29,413 | $ | 11,986 | $ | 0 | * | |||||||||
Government Money Market Portfolio** | 178 | 3,883 | 4,061 | -0- | 0 | * | ||||||||||||||
Total | $ | 11,986 | $ | 0 | * |
* | Amount is less than $500. |
** | Investment of cash collateral for securities lending transactions. |
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