AB Cap Fund, Inc.
AB Small Cap Growth Portfolio
Portfolio of Investments
October 31, 2021 (unaudited)
Company | Shares | U.S. $ Value | ||||||
COMMON STOCKS 97.1% |
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Information Technology 27.0% |
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Electronic Equipment, Instruments & Components 3.6% |
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Allegro MicroSystems, Inc.(a) |
1,563,331 | $ | 52,152,722 | |||||
Littelfuse, Inc. |
250,840 | 73,884,922 | ||||||
Novanta, Inc.(a) (b) |
544,160 | 93,900,249 | ||||||
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219,937,893 | ||||||||
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IT Services 3.9% |
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Amplitude, Inc.(a) |
592,811 | 44,039,929 | ||||||
BigCommerce Holdings, Inc.(a) (b) |
726,779 | 33,584,458 | ||||||
DigitaloOean Holdings, Inc.(a) (b) |
543,921 | 53,081,250 | ||||||
Shift4 Payments, Inc. - Class A(a) |
805,966 | 50,880,634 | ||||||
Switch, Inc. - Class A |
2,194,840 | 55,485,555 | ||||||
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237,071,826 | ||||||||
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Semiconductors & Semiconductor Equipment 9.0% |
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Ambarella, Inc.(a) (b) |
465,568 | 86,516,501 | ||||||
Lattice Semiconductor Corp.(a) |
1,514,329 | 105,155,006 | ||||||
MACOM Technology Solutions Holdings, Inc.(a) |
1,273,910 | 88,944,396 | ||||||
Semtech Corp.(a) |
1,117,650 | 95,033,780 | ||||||
Silicon Laboratories, Inc.(a) (b) |
373,212 | 70,447,497 | ||||||
Synaptics, Inc.(a) |
517,454 | 100,681,025 | ||||||
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546,778,205 | ||||||||
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Software 10.5% |
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Anaplan, Inc.(a) |
751,630 | 49,013,792 | ||||||
Blackline, Inc.(a) (b) |
753,530 | 95,600,351 | ||||||
Duck Creek Technologies, Inc.(a) |
704,635 | 22,196,003 | ||||||
Enfusion, Inc.(a) |
1,075,623 | 22,190,102 | ||||||
Everbridge, Inc.(a) (b) |
487,020 | 77,587,156 | ||||||
Manhattan Associates, Inc.(a) |
492,894 | 89,479,977 | ||||||
Rapid7, Inc.(a) (b) |
760,000 | 97,850,000 | ||||||
Riskified Ltd.(a) |
1,403,429 | 27,142,317 | ||||||
Smartsheet, Inc. - Class A(a) |
870,692 | 60,086,455 | ||||||
Varonis Systems, Inc.(a) |
1,405,455 | 90,989,157 | ||||||
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632,135,310 | ||||||||
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1,635,923,234 | ||||||||
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Health Care 21.0% |
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Biotechnology 12.6% |
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ADC Therapeutics SA(a) (b) |
921,531 | 26,715,184 | ||||||
Allakos, Inc.(a) (b) |
374,072 | 37,624,162 | ||||||
Annexon, Inc.(a) (b) |
1,061,859 | 17,318,920 | ||||||
Ascendis Pharma A/S (Sponsored ADR)(a) |
205,827 | 31,205,431 | ||||||
Beyondspring, Inc.(a) (b) |
1,223,597 | 16,910,111 | ||||||
Biohaven Pharmaceutical Holding Co., Ltd.(a) |
353,596 | 50,323,783 | ||||||
Bioxcel Therapeutics, Inc.(a) (b) |
666,734 | 19,428,629 | ||||||
Blueprint Medicines Corp.(a) |
478,490 | 53,825,340 | ||||||
Coherus Biosciences, Inc.(a) (b) |
1,635,112 | 27,355,424 |
1
Company | Shares | U.S. $ Value | ||||||
Erasca, Inc.(a) |
941,709 | $ | 18,627,004 | |||||
Insmed, Inc.(a) (b) |
1,268,735 | 38,252,360 | ||||||
Instil Bio, Inc.(a) |
802,939 | 16,355,872 | ||||||
Instil Bio, Inc.(a) (b) |
594,238 | 12,104,628 | ||||||
Intellia Therapeutics, Inc.(a) |
445,950 | 59,302,431 | ||||||
iTeos Therapeutics, Inc.(a) |
847,590 | 22,673,033 | ||||||
Legend Biotech Corp. (ADR)(a) (b) |
552,905 | 29,027,513 | ||||||
Praxis Precision Medicines, Inc.(a) (b) |
1,068,228 | 22,219,142 | ||||||
Recursion Pharmaceuticals, Inc.(a) (b) |
1,263,849 | 24,202,708 | ||||||
Relay Therapeutics, Inc.(a) (b) |
920,870 | 30,618,927 | ||||||
Turning Point Therapeutics, Inc. - Class I(a) |
451,001 | 18,752,622 | ||||||
Twist Bioscience Corp.(a) |
504,150 | 59,893,020 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) |
332,719 | 27,921,778 | ||||||
Vir Biotechnology, Inc.(a) (b) |
898,517 | 33,901,046 | ||||||
Y-mAbs Therapeutics, Inc.(a) (b) |
862,863 | 21,191,915 | ||||||
Zentalis Pharmaceuticals, Inc.(a) (b) |
548,048 | 44,084,981 | ||||||
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759,835,964 | ||||||||
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Health Care Equipment & Supplies 4.8% |
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AtriCure, Inc.(a) |
983,120 | 73,792,987 | ||||||
Figs, Inc.(a) |
1,211,453 | 40,716,935 | ||||||
Outset Medical, Inc.(a) (b) |
1,419,612 | 75,622,731 | ||||||
Sight Sciences, Inc.(a) (b) |
776,384 | 20,939,077 | ||||||
Silk Road Medical, Inc.(a) (b) |
940,189 | 55,198,496 | ||||||
Treace Medical Concepts, Inc.(a) |
1,148,697 | 26,488,953 | ||||||
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292,759,179 | ||||||||
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Health Care Providers & Services 1.1% |
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Certara, Inc.(a) (b) |
1,455,468 | 60,125,383 | ||||||
LHC Group, Inc.(a) |
53,115 | 7,148,748 | ||||||
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67,274,131 | ||||||||
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Health Care Technology 1.2% |
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Health Catalyst, Inc.(a) (b) |
1,383,964 | 72,851,865 | ||||||
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Life Sciences Tools & Services 1.3% |
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Repligen Corp.(a) |
274,970 | 79,878,785 | ||||||
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1,272,599,924 | ||||||||
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Industrials 16.3% |
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Aerospace & Defense 1.1% |
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Axon Enterprise, Inc.(a) |
356,689 | 64,189,752 | ||||||
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Building Products 2.2% |
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AZEK Co., Inc. (The)(a) (b) |
1,577,250 | 57,869,303 | ||||||
Simpson Manufacturing Co., Inc.(b) |
720,660 | 76,454,819 | ||||||
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134,324,122 | ||||||||
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Commercial Services & Supplies 1.9% |
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Tetra Tech, Inc. |
644,498 | 113,212,519 | ||||||
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2
Company | Shares | U.S. $ Value | ||||||
Construction & Engineering 1.0% |
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Hayward Holdings, Inc.(a) (b) |
2,726,408 | $ | 63,225,402 | |||||
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Machinery 5.8% |
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Chart Industries, Inc.(a) (b) |
458,333 | 81,363,274 | ||||||
Hydrofarm Holdings Group, Inc.(a) (b) |
1,356,241 | 44,715,266 | ||||||
ITT, Inc. |
738,870 | 69,505,501 | ||||||
John Bean Technologies Corp. |
579,560 | 85,629,990 | ||||||
Middleby Corp. (The)(a) |
387,360 | 70,669,958 | ||||||
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351,883,989 | ||||||||
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Professional Services 1.0% |
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Insperity, Inc.(b) |
495,100 | 61,887,500 | ||||||
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Road & Rail 1.9% |
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Saia, Inc.(a) |
362,096 | 113,205,694 | ||||||
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Trading Companies & Distributors 1.4% |
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SiteOne Landscape Supply, Inc.(a) (b) |
349,465 | 82,110,296 | ||||||
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984,039,274 | ||||||||
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Consumer Discretionary 16.0% |
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Auto Components 1.5% |
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Fox Factory Holding Corp.(a) (b) |
579,763 | 93,312,855 | ||||||
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Hotels, Restaurants & Leisure 5.2% |
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Hilton Grand Vacations, Inc.(a) |
1,611,730 | 81,037,784 | ||||||
Life Time Group Holdings, Inc.(a) |
2,661,363 | 46,148,035 | ||||||
Planet Fitness, Inc.(a) |
526,723 | 41,900,815 | ||||||
Texas Roadhouse, Inc. - Class A |
630,620 | 56,005,362 | ||||||
Wingstop, Inc. |
523,024 | 90,205,949 | ||||||
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315,297,945 | ||||||||
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Household Durables 2.4% |
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Lovesac Co. (The)(a) (b) |
839,298 | 65,473,637 | ||||||
Skyline Champion Corp.(a) |
1,221,830 | 77,366,275 | ||||||
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142,839,912 | ||||||||
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Multiline Retail 1.3% |
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Driven Brands Holdings, Inc.(a) |
2,495,691 | 81,035,087 | ||||||
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Specialty Retail 5.6% |
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Five Below, Inc.(a) |
302,822 | 59,746,781 | ||||||
Floor & Decor Holdings, Inc. - Class A(a) |
551,700 | 74,987,064 | ||||||
Lithia Motors, Inc. - Class A |
196,219 | 62,637,029 | ||||||
National Vision Holdings, Inc.(a) (b) |
1,365,950 | 84,197,158 | ||||||
Sleep Number Corp.(a) |
613,386 | 54,186,519 | ||||||
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335,754,551 | ||||||||
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968,240,350 | ||||||||
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Financials 10.9% |
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Banks 3.0% |
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First Financial Bankshares, Inc.(b) |
1,903,540 | 96,547,549 | ||||||
Live Oak Bancshares, Inc.(b) |
953,290 | 85,014,402 | ||||||
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181,561,951 | ||||||||
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3
Company | Shares | U.S. $ Value | ||||||
Capital Markets 3.9% |
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Houlihan Lokey, Inc. |
773,947 | $ | 86,743,980 | |||||
P10, Inc.(a) |
1,606,279 | 20,078,487 | ||||||
StepStone Group, Inc. |
1,028,950 | 48,340,071 | ||||||
Stifel Financial Corp. |
1,082,295 | 78,866,837 | ||||||
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234,029,375 | ||||||||
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Consumer Finance 0.4% |
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Fisker, Inc.(a) (b) |
1,696,700 | 27,232,035 | ||||||
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Insurance 3.6% |
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Inari Medical, Inc.(a) |
789,134 | 71,432,410 | ||||||
Ryan Specialty Group Holdings, Inc.(a) (b) |
1,732,863 | 65,484,893 | ||||||
Trupanion, Inc.(a) (b) |
785,289 | 80,413,593 | ||||||
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217,330,896 | ||||||||
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660,154,257 | ||||||||
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Consumer Staples 2.2% |
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Food & Staples Retailing 0.9% |
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Chefs Warehouse, Inc. (The)(a) (b) |
1,515,553 | 52,847,333 | ||||||
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Food Products 1.3% |
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Freshpet, Inc.(a) |
367,508 | 57,298,172 | ||||||
Vital Farms, Inc.(a) (b) |
1,311,388 | 21,532,991 | ||||||
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78,831,163 | ||||||||
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Personal Products 0.0% |
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Honest Co., Inc. (The)(a) |
77,572 | 709,784 | ||||||
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132,388,280 | ||||||||
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Materials 2.0% |
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Chemicals 0.9% |
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Element Solutions, Inc. |
2,252,990 | 51,165,403 | ||||||
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Containers & Packaging 1.1% |
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Ranpak Holdings Corp.(a) |
1,996,144 | 68,787,122 | ||||||
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119,952,525 | ||||||||
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Energy 1.7% |
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Energy Equipment & Services 0.6% |
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ChampionX Corp.(a) |
1,277,960 | 33,520,891 | ||||||
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Oil, Gas & Consumable Fuels 1.1% |
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Matador Resources Co.(b) |
1,624,380 | 67,980,303 | ||||||
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101,501,194 | ||||||||
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Total Common Stocks |
5,874,799,038 | |||||||
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4
Company | Shares | U.S. $ Value | ||||||
INVESTMENT COMPANIES 0.9% |
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Funds and Investment Trusts 0.9% |
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iShares Russell 2000 Growth ETF(b) |
183,530 | $ | 56,420,793 | |||||
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SHORT-TERM INVESTMENTS 1.6% |
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Investment Companies 1.6% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(c) (d) (e) |
96,292,949 | 96,292,949 | ||||||
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Total Investments Before Security Lending Collateral for Securities Loaned 99.6%
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6,027,512,780 | ||||||
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INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED 0.7% |
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Investment Companies 0.7% |
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AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 0.01%(c) (d) (e) |
40,281,927 | 40,281,927 | ||||||
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Total Investments 100.3% |
|
6,067,794,707 | ||||||
Other assets less liabilities (0.3)% |
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(17,192,209 | ) | |||||
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Net Assets 100.0% |
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$ | 6,050,602,498 | |||||
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(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 funds shareholder report, please go to the Securities and Exchange Commissions website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618. |
(f) | As of October 31, 2021, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,876,818,788 and gross unrealized depreciation of investments was $(92,220,073), resulting in net unrealized appreciation of $1,784,598,715. |
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 & Poors. 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
ETF Exchange Traded Fund
5
AB Cap Fund, Inc.
AB Small Cap Growth Portfolio
October 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, 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 Funds investments by the above fair value hierarchy levels as of October 31, 2021:
Investments in Securities: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Assets: |
| |||||||||||||||
Common Stocks(a) | $ | 5,874,799,038 | $ | | $ | | $ | 5,874,799,038 | ||||||||
Investment Companies | 56,420,793 | | | 56,420,793 | ||||||||||||
Short-Term Investments | 96,292,949 | | | 96,292,949 | ||||||||||||
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund | 40,281,927 | | | 40,281,927 | ||||||||||||
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Total Investments in Securities | 6,067,794,707 | | | 6,067,794,707 | ||||||||||||
Other Financial Instruments(b) | | | | | ||||||||||||
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Total | $ | 6,067,794,707 | $ | | $ | | $ | 6,067,794,707 | ||||||||
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(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. |
6
A summary of the Funds transactions in AB mutual funds for the three months ended October 31, 2021 is as follows:
Fund | Market Value 07/31/2021 (000) |
Purchases at Cost (000) |
Sales Proceeds (000) |
Market Value 10/31/2021 (000) |
Dividend Income (000) |
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Government Money Market Portfolio | $ | 117,127 | $ | 295,768 | $ | 316,602 | $ | 96,293 | $ | 3 | ||||||||||
Government Money Market Portfolio* | 131,341 | 247,508 | 338,567 | 40,282 | 2 | |||||||||||||||
Total | $ | 248,468 | $ | 543,276 | $ | 655,169 | $ | 136,575 | $ | 5 |
* | Investments of cash collateral for securities lending transactions |
7