AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

Portfolio of Investments

March 31, 2023 (unaudited)

Company	Shares		U.S. $ Value
COMMON STOCKS – 65.4%
Information Technology – 13.5%
Communications Equipment – 0.5%
Arista Networks, Inc.(a)		2,661	$	446,675
Cisco Systems, Inc.		44,167		2,308,830
F5, Inc.(a)		646		94,116
Juniper Networks, Inc.		3,483		119,885
Motorola Solutions, Inc.		1,798		514,462
Nokia Oyj		55,525		272,566
Telefonaktiebolaget LM Ericsson - Class B		30,232		177,214
				3,933,748
Electronic Equipment, Instruments & Components – 0.6%
Amphenol Corp. - Class A		6,393		522,436
Azbil Corp.		1,243		34,045
CDW Corp./DE		1,456		283,760
Corning, Inc.		8,184		288,732
Halma PLC		4,008		110,647
Hamamatsu Photonics KK		1,510		81,452
Hexagon AB - Class B		20,161		232,041
Hirose Electric Co., Ltd.		326		42,650
Ibiden Co., Ltd.(b)		1,205		48,325
Keyence Corp.		2,028		993,940
Keysight Technologies, Inc.(a)		1,917		309,557
Kyocera Corp.		3,322		173,295
Murata Manufacturing Co., Ltd.		5,966		363,599
Omron Corp.		1,974		115,532
Shimadzu Corp.		2,409		75,625
TDK Corp.		4,060		145,738
TE Connectivity Ltd.		3,402		446,172
Teledyne Technologies, Inc.(a)		504		225,469
Trimble, Inc.(a)		2,652		139,018
Venture Corp. Ltd.		2,790		37,133
Yaskawa Electric Corp.		2,574		112,895
Yokogawa Electric Corp.		2,300		37,452
Zebra Technologies Corp. - Class A(a)		555		176,490
				4,996,003
IT Services – 0.7%
Accenture PLC - Class A		6,770		1,934,934
Akamai Technologies, Inc.(a)		1,691		132,405
Bechtle AG		825		39,507
Capgemini SE		1,709		317,593
Cognizant Technology Solutions Corp. - Class A		5,472		333,409
DXC Technology Co.(a)		2,448		62,571
EPAM Systems, Inc.(a)		618		184,782
Fujitsu Ltd.		2,052		277,287
Gartner, Inc.(a)		850		276,904
International Business Machines Corp.		9,720		1,274,195
Itochu Techno-Solutions Corp.		967		23,827
NEC Corp.		2,617		101,030
Nomura Research Institute Ltd.		4,139		96,802
NTT Data Corp.		6,358		83,586
Obic Co., Ltd.(b)		736		116,578
Otsuka Corp.		1,148		40,771
SCSK Corp.		1,574		23,046

1

Company	Shares		U.S. $ Value
TIS, Inc.		2,330	$	61,618
VeriSign, Inc.(a)		985		208,160
Wix.com Ltd.(a)		641		63,972
				5,652,977
Semiconductors & Semiconductor Equipment – 3.6%
Advanced Micro Devices, Inc.(a)		17,335		1,699,003
Advantest Corp.		1,896		175,771
Analog Devices, Inc.		5,449		1,074,652
Applied Materials, Inc.		9,064		1,113,331
ASM International NV		488		198,080
ASML Holding NV		4,200		2,862,081
Broadcom, Inc.		4,493		2,882,439
Disco Corp.		930		108,188
Enphase Energy, Inc.(a)		1,461		307,219
Infineon Technologies AG		13,669		561,320
Intel Corp.		44,477		1,453,064
KLA Corp.		1,489		594,364
Lam Research Corp.		1,451		769,204
Lasertec Corp.(b)		797		141,610
Microchip Technology, Inc.		5,889		493,380
Micron Technology, Inc.		11,731		707,849
Monolithic Power Systems, Inc.		481		240,760
NVIDIA Corp.		26,448		7,346,461
NXP Semiconductors NV		2,786		519,519
ON Semiconductor Corp.(a)		4,644		382,294
Qorvo, Inc.(a)		1,074		109,086
QUALCOMM, Inc.		11,987		1,529,302
Renesas Electronics Corp.(a)		11,966		173,277
Rohm Co., Ltd.		951		79,263
Skyworks Solutions, Inc.		1,709		201,628
SolarEdge Technologies, Inc.(a)		601		182,674
STMicroelectronics NV		7,142		380,552
SUMCO Corp.		3,351		50,412
Teradyne, Inc.		1,675		180,079
Texas Instruments, Inc.		9,743		1,812,296
Tokyo Electron Ltd.		4,701		574,303
Tower Semiconductor Ltd.(a)		1,109		47,274
				28,950,735
Software – 4.6%
Adobe, Inc.(a)		4,922		1,896,791
ANSYS, Inc.(a)		937		311,834
Autodesk, Inc.(a)		2,320		482,931
Cadence Design Systems, Inc.(a)		2,949		619,555
Ceridian HCM Holding, Inc.(a)		1,654		121,106
Check Point Software Technologies Ltd.(a)		1,070		139,100
CyberArk Software Ltd.(a)		434		64,223
Dassault Systemes SE		6,957		286,983
Fair Isaac Corp.(a)		270		189,726
Fortinet, Inc.(a)		6,971		463,293
Gen Digital, Inc.		6,116		104,950
Intuit, Inc.		3,020		1,346,407
Microsoft Corp.		80,029		23,072,361
Nemetschek SE		581		40,107

2

Company	Shares		U.S. $ Value
Nice Ltd.(a)		661	$	150,575
Oracle Corp.		16,523		1,535,317
Oracle Corp. Japan		387		27,949
Paycom Software, Inc.(a)		518		157,477
PTC, Inc.(a)		1,144		146,695
Roper Technologies, Inc.		1,140		502,387
Sage Group PLC (The)		10,307		98,910
Salesforce, Inc.(a)		10,751		2,147,835
SAP SE		10,877		1,373,444
ServiceNow, Inc.(a)		2,182		1,014,019
Synopsys, Inc.(a)		1,639		633,064
Temenos AG (REG)		677		47,110
Trend Micro, Inc./Japan		1,437		70,500
Tyler Technologies, Inc.(a)		448		158,879
WiseTech Global Ltd.		1,608		70,838
Xero Ltd.(a)		1,438		87,217
				37,361,583
Technology Hardware, Storage & Peripherals – 3.5%
Apple, Inc.		159,897		26,367,015
Brother Industries Ltd.		2,377		35,812
Canon, Inc.		10,295		229,268
FUJIFILM Holdings Corp.		3,723		188,991
Hewlett Packard Enterprise Co.		13,781		219,531
HP, Inc.		9,292		272,720
Logitech International SA (REG)		1,847		107,803
NetApp, Inc.		2,318		148,004
Ricoh Co., Ltd.		5,188		38,916
Seagate Technology Holdings PLC		2,065		136,538
Seiko Epson Corp.(b)		2,818		40,264
Western Digital Corp.(a)		3,433		129,321
				27,914,183
				108,809,229
Financials – 9.5%
Banks – 3.3%
ABN AMRO Bank NV(c)		4,207		66,712
AIB Group PLC		11,076		44,831
ANZ Group Holdings Ltd.		30,969		477,236
Banco Bilbao Vizcaya Argentaria SA(b)		62,170		444,476
Banco Santander SA		174,931		651,877
Bank Hapoalim BM		12,904		107,394
Bank Leumi Le-Israel BM		15,840		119,826
Bank of America Corp.		75,038		2,146,087
Bank of Ireland Group PLC		11,086		112,171
Banque Cantonale Vaudoise (REG)(b)		312		29,442
Barclays PLC		164,047		295,269
BNP Paribas Emissions- und Handelsgesellschaft mbH		38,654		459,029
BNP Paribas SA		11,601		692,783
BOC Hong Kong Holdings Ltd.		37,283		116,071

3

Company	Shares		U.S. $ Value
CaixaBank SA		46,177	$	180,180
Chiba Bank Ltd. (The)		5,340		34,466
Citigroup, Inc.		20,823		976,390
Citizens Financial Group, Inc.		5,295		160,809
Comerica, Inc.		1,408		61,135
Commerzbank AG(a)		10,819		113,905
Commonwealth Bank of Australia(b)		17,699		1,168,586
Concordia Financial Group Ltd.		10,968		40,427
Credit Agricole SA		12,536		141,421
Danske Bank A/S(a)		7,184		144,533
DBS Group Holdings Ltd.		18,878		469,340
DNB Bank ASA		9,637		172,461
Erste Group Bank AG		3,629		120,226
Fifth Third Bancorp		7,347		195,724
FinecoBank Banca Fineco SpA		6,144		94,133
First International Bank Of Israel Ltd.		575		20,354
First Republic Bank/CA(b)		1,997		27,938
Hang Seng Bank Ltd.		8,009		113,851
HSBC Holdings PLC		207,990		1,413,603
Huntington Bancshares, Inc./OH		15,515		173,768
Intesa Sanpaolo SpA		168,119		431,467
Israel Discount Bank Ltd. - Class A		12,463		61,221
Japan Post Bank Co., Ltd.(b)		15,555		127,045
JPMorgan Chase & Co.		31,535		4,109,326
KBC Group NV		2,598		178,511
KeyCorp		10,034		125,626
Lloyds Banking Group PLC		698,140		410,469
M&T Bank Corp.		1,820		217,617
Mediobanca Banca di Credito Finanziario SpA		5,771		57,992
Mitsubishi UFJ Financial Group, Inc.		123,817		793,502
Mizrahi Tefahot Bank Ltd.		1,577		49,437
Mizuho Financial Group, Inc.		25,126		355,974
National Australia Bank Ltd.		32,757		610,373
NatWest Group PLC		54,918		179,199
Nordea Bank Abp (Stockholm)		34,111		364,247
Oversea-Chinese Banking Corp., Ltd.		34,743		323,867
PNC Financial Services Group, Inc. (The)		4,311		547,928
Regions Financial Corp.		10,042		186,380
Resona Holdings, Inc.		22,172		106,961
Shizuoka Financial Group, Inc.		4,497		32,293
Skandinaviska Enskilda Banken AB - Class A(a)		16,831		185,785
Societe Generale SA		8,389		189,015
Standard Chartered PLC		25,099		190,227
Sumitomo Mitsui Financial Group, Inc.		13,603		544,359
Sumitomo Mitsui Trust Holdings, Inc.(b)		3,421		117,532
Svenska Handelsbanken AB - Class A		15,192		131,576
Swedbank AB - Class A		9,433		155,122
Truist Financial Corp.		14,265		486,437
UniCredit SpA		19,898		375,035
United Overseas Bank Ltd.		12,375		277,559
US Bancorp		14,979		539,993
Wells Fargo & Co.		40,967		1,531,346
Westpac Banking Corp.		36,265		528,004
Zions Bancorp NA		1,609		48,157
				26,156,036

4

Company	Shares		U.S. $ Value
Capital Markets – 1.8%
3i Group PLC		10,138	$	211,311
Abrdn PLC		19,986		50,302
Ameriprise Financial, Inc.		1,132		346,958
Amundi SA(c)		691		43,539
ASX Ltd.(b)		2,054		89,700
Bank of New York Mellon Corp. (The)		7,908		359,340
BlackRock, Inc.		1,610		1,077,283
Cboe Global Markets, Inc.		1,141		153,168
Charles Schwab Corp. (The)		16,399		858,980
CME Group, Inc.		3,867		740,608
Credit Suisse Group AG (REG)		37,517		33,691
Daiwa Securities Group, Inc.(b)		13,519		63,466
Deutsche Bank AG (REG)		21,407		217,692
Deutsche Boerse AG		2,002		389,809
EQT AB(b)		3,703		75,643
Euronext NV(c)		936		71,674
FactSet Research Systems, Inc.		411		170,602
Franklin Resources, Inc.		3,066		82,598
Futu Holdings Ltd. (ADR)(a)		656		34,014
Goldman Sachs Group, Inc. (The)		3,641		1,191,008
Hargreaves Lansdown PLC		3,584		35,505
Hong Kong Exchanges & Clearing Ltd.		12,530		555,388
Intercontinental Exchange, Inc.		6,008		626,574
Invesco Ltd.		4,890		80,196
Japan Exchange Group, Inc.(b)		5,165		78,993
Julius Baer Group Ltd.		2,215		151,303
London Stock Exchange Group PLC		3,971		385,702
Macquarie Group Ltd.		3,843		455,010
MarketAxess Holdings, Inc.		405		158,472
Moody’s Corp.		1,694		518,398
Morgan Stanley		14,046		1,233,239
MSCI, Inc.		860		481,333
Nasdaq, Inc.		3,644		199,217
Nomura Holdings, Inc.		29,578		114,033
Northern Trust Corp.		2,241		197,499
Partners Group Holding AG		239		225,072
Raymond James Financial, Inc.		2,084		194,375
S&P Global, Inc.		3,539		1,220,141
SBI Holdings, Inc./Japan(b)		2,467		48,994
Schroders PLC		9,235		52,662
Singapore Exchange Ltd.		8,880		62,884
St. James’s Place PLC		5,443		81,675
State Street Corp.		3,752		283,989
T. Rowe Price Group, Inc.		2,411		272,202
UBS Group AG (REG)		34,918		738,892
				14,713,134
Consumer Finance – 0.2%
American Express Co.		6,401		1,055,845
Capital One Financial Corp.		4,099		394,160
Discover Financial Services		2,871		283,769
Synchrony Financial		4,699		136,647
				1,870,421

5

Company	Shares		U.S. $ Value
Financial Services – 2.2%
Adyen NV(a) (b) (c)		229	$	364,895
Berkshire Hathaway, Inc. - Class B(a)		19,370		5,980,875
Edenred		2,613		154,650
Eurazeo SE		464		33,028
EXOR NV(a)		1,169		96,395
Fidelity National Information Services, Inc.		6,379		346,571
Fiserv, Inc.(a)		6,827		771,656
FleetCor Technologies, Inc.(a)		793		167,204
Global Payments, Inc.		2,828		297,619
GMO Payment Gateway, Inc.		481		41,644
Groupe Bruxelles Lambert NV		1,033		88,156
Industrivarden AB - Class A		1,313		35,487
Industrivarden AB - Class C		1,637		44,141
Investor AB - Class A		5,024		102,514
Investor AB - Class B		18,977		378,033
Jack Henry & Associates, Inc.		785		118,315
Kinnevik AB - Class B(a) (b)		2,439		36,470
L E Lundbergforetagen AB - Class B		765		34,645
M&G PLC		22,056		54,060
Mastercard, Inc. - Class A		9,071		3,296,492
Mitsubishi HC Capital, Inc.		6,650		34,339
Nexi SpA(a) (c)		6,113		49,681
ORIX Corp.		12,381		204,138
PayPal Holdings, Inc.(a)		12,163		923,658
Sofina SA		177		39,754
Visa, Inc. - Class A		17,470		3,938,786
Wendel SE		317		33,519
Worldline SA/France(a) (c)		2,518		107,011
				17,773,736
Insurance – 2.0%
Admiral Group PLC		1,972		49,519
Aegon NV		18,038		77,440
Aflac, Inc.		6,019		388,346
Ageas SA/NV		1,677		72,544
AIA Group Ltd.		123,105		1,291,046
Allianz SE (REG)		4,201		969,742
Allstate Corp. (The)		2,828		313,371
American International Group, Inc.		7,988		402,276
Aon PLC - Class A		2,208		696,160
Arch Capital Group Ltd.(a)		3,977		269,919
Arthur J Gallagher & Co.		2,280		436,187
Assicurazioni Generali SpA		11,505		229,233
Assurant, Inc.		568		68,200
Aviva PLC		29,197		145,843
AXA SA		19,592		597,900
Baloise Holding AG (REG)		490		76,301
Brown & Brown, Inc.		2,527		145,100
Chubb Ltd.		4,462		866,431
Cincinnati Financial Corp.		1,690		189,415
Dai-ichi Life Holdings, Inc.(b)		10,208		187,659
Everest Re Group Ltd.		421		150,726
Gjensidige Forsikring ASA		2,015		32,950
Globe Life, Inc.		973		107,050

6

Company	Shares		U.S. $ Value
Hannover Rueck SE		641	$	125,367
Hartford Financial Services Group, Inc. (The)		3,388		236,110
Insurance Australia Group Ltd.		24,836		78,176
Japan Post Holdings Co., Ltd.		24,626		199,864
Japan Post Insurance Co., Ltd.		2,013		31,374
Legal & General Group PLC		61,865		182,972
Lincoln National Corp.		1,656		37,210
Loews Corp.		2,097		121,668
Marsh & McLennan Cos., Inc.		5,322		886,379
Medibank Pvt Ltd.(b)		27,747		62,616
MetLife, Inc.		7,086		410,563
MS&AD Insurance Group Holdings, Inc.		4,466		138,405
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (REG)		1,467		512,915
NN Group NV		2,908		105,589
Phoenix Group Holdings PLC		7,768		52,484
Poste Italiane SpA(c)		5,263		53,670
Principal Financial Group, Inc.		2,446		181,787
Progressive Corp. (The)		6,288		899,561
Prudential Financial, Inc.		3,956		327,319
Prudential PLC		28,637		392,087
QBE Insurance Group Ltd.		15,464		151,401
Sampo Oyj - Class A		5,015		236,633
Sompo Holdings, Inc.		3,270		129,574
Suncorp Group Ltd.		12,721		103,360
Swiss Life Holding AG (REG)		326		201,177
Swiss Re AG		3,156		324,227
T&D Holdings, Inc.(b)		5,340		66,183
Tokio Marine Holdings, Inc.		19,081		367,213
Travelers Cos., Inc. (The)		2,485		425,954
Tryg A/S		3,627		79,306
Willis Towers Watson PLC		1,148		266,772
WR Berkley Corp.		2,190		136,349
Zurich Insurance Group AG		1,570		752,342
				16,039,965
				76,553,292
Health Care – 9.1%
Biotechnology – 1.2%
AbbVie, Inc.		19,013		3,030,102
Amgen, Inc.		5,741		1,387,887
Argenx SE(a)		578		213,565
Biogen, Inc.(a)		1,548		430,390
CSL Ltd.		5,023		972,806
Genmab A/S(a)		690		260,824
Gilead Sciences, Inc.		13,407		1,112,379
Grifols SA(a) (b)		3,005		29,744
Incyte Corp.(a)		1,990		143,817
Moderna, Inc.(a)		3,552		545,516
Regeneron Pharmaceuticals, Inc.(a)		1,156		949,851
Swedish Orphan Biovitrum AB(a)		1,717		40,007
Vertex Pharmaceuticals, Inc.(a)		2,764		870,853
				9,987,741

7

Company	Shares		U.S. $ Value
Health Care Equipment & Supplies – 1.7%
Abbott Laboratories		18,745	$	1,898,119
Alcon, Inc.		5,250		372,684
Align Technology, Inc.(a)		781		260,963
Asahi Intecc Co., Ltd.(b)		2,189		38,676
Baxter International, Inc.		5,426		220,079
Becton Dickinson and Co.		3,052		755,492
BioMerieux		475		50,073
Boston Scientific Corp.(a)		15,399		770,412
Carl Zeiss Meditec AG Class BR		450		62,681
Cochlear Ltd.		695		110,644
Coloplast A/S - Class B		1,240		163,267
Cooper Cos., Inc. (The)		531		198,254
Demant A/S(a)		964		33,843
DENTSPLY SIRONA, Inc.		2,311		90,776
Dexcom, Inc.(a)		4,154		482,612
DiaSorin SpA		292		30,772
Edwards Lifesciences Corp.(a)		6,647		549,906
EssilorLuxottica SA		3,042		548,542
Fisher & Paykel Healthcare Corp., Ltd.		5,813		97,175
GE Healthcare, Inc.(a)		3,904		320,245
Getinge AB - Class B		2,304		56,191
Hologic, Inc.(a)		2,651		213,936
Hoya Corp.		3,718		410,884
IDEXX Laboratories, Inc.(a)		890		445,071
Insulet Corp.(a)		747		238,263
Intuitive Surgical, Inc.(a)		3,767		962,355
Koninklijke Philips NV		9,290		170,628
Medtronic PLC		14,301		1,152,947
Olympus Corp.		12,545		220,325
ResMed, Inc.		1,579		345,785
Siemens Healthineers AG(c)		2,928		168,805
Smith & Nephew PLC		8,859		123,145
Sonova Holding AG (REG)		556		164,014
STERIS PLC		1,067		204,096
Straumann Holding AG (REG)		1,185		177,732
Stryker Corp.		3,625		1,034,829
Sysmex Corp.		1,777		116,627
Teleflex, Inc.		504		127,668
Terumo Corp.		6,668		180,338
Zimmer Biomet Holdings, Inc.		2,256		291,475
				13,860,329
Health Care Providers & Services – 1.5%
AmerisourceBergen Corp.		1,740		278,591
Amplifon SpA		1,254		43,464
Cardinal Health, Inc.		2,770		209,135
Centene Corp.(a)		5,921		374,266
Cigna Group (The)		3,211		820,507
CVS Health Corp.		13,806		1,025,924
DaVita, Inc.(a)		591		47,936
EBOS Group Ltd.		1,688		49,188
Elevance Health, Inc.		2,568		1,180,792

8

Company	Shares		U.S. $ Value
Fresenius Medical Care AG & Co. KGaA		2,193	$	93,080
Fresenius SE & Co. KGaA		4,406		118,976
HCA Healthcare, Inc.		2,280		601,190
Henry Schein, Inc.(a)		1,457		118,804
Humana, Inc.		1,344		652,458
Laboratory Corp. of America Holdings		953		218,637
McKesson Corp.		1,472		524,106
Molina Healthcare, Inc.(a)		628		167,984
Quest Diagnostics, Inc.		1,193		168,786
Ramsay Health Care Ltd.(b)		1,960		87,579
Sonic Healthcare Ltd.		4,591		107,627
UnitedHealth Group, Inc.		10,045		4,747,167
Universal Health Services, Inc. - Class B		690		87,699
				11,723,896
Health Care Technology – 0.0%
M3, Inc.		4,607		115,954
Life Sciences Tools & Services – 1.0%
Agilent Technologies, Inc.		3,181		440,060
Bachem Holding AG (REG)(b)		344		34,593
Bio-Rad Laboratories, Inc. - Class A(a)		231		110,654
Bio-Techne Corp.		1,691		125,455
Charles River Laboratories International, Inc.(a)		547		110,396
Danaher Corp.		7,047		1,776,126
Eurofins Scientific SE		1,409		94,346
Illumina, Inc.(a)		1,691		393,242
IQVIA Holdings, Inc.		1,996		396,984
Lonza Group AG (REG)		777		467,754
Mettler-Toledo International, Inc.(a)		238		364,190
PerkinElmer, Inc.		1,358		180,967
QIAGEN NV(a)		2,427		110,541
Sartorius AG (Preference Shares)		261		110,000
Sartorius Stedim Biotech		294		90,198
Thermo Fisher Scientific, Inc.		4,217		2,430,552
Waters Corp.(a)		639		197,854
West Pharmaceutical Services, Inc.		796		275,790
				7,709,702
Pharmaceuticals – 3.7%
Astellas Pharma, Inc.		19,122		271,672
AstraZeneca PLC		16,140		2,236,266
Bayer AG (REG)		10,257		655,234
Bristol-Myers Squibb Co.		22,859		1,584,357
Catalent, Inc.(a)		1,936		127,215
Chugai Pharmaceutical Co., Ltd.		6,969		172,083
Daiichi Sankyo Co., Ltd.		18,319		668,234
Eisai Co., Ltd.		2,635		149,667
Eli Lilly & Co.		8,479		2,911,858
GSK PLC		42,420		749,532
Hikma Pharmaceuticals PLC		1,710		35,444
Ipsen SA		431		47,458
Johnson & Johnson		28,109		4,356,895
Kyowa Kirin Co., Ltd.		2,720		59,382
Merck & Co., Inc.		27,258		2,899,979
Merck KGaA		1,357		252,992
Nippon Shinyaku Co., Ltd.		495		21,842

9

Company	Shares		U.S. $ Value
Novartis AG (REG)		22,534	$	2,069,038
Novo Nordisk A/S - Class B		17,243		2,738,555
Ono Pharmaceutical Co., Ltd.		3,726		77,643
Organon & Co.		2,735		64,327
Orion Oyj - Class B		1,167		52,163
Otsuka Holdings Co., Ltd.		4,092		129,919
Pfizer, Inc.		60,349		2,462,239
Recordati Industria Chimica e Farmaceutica SpA		1,053		44,541
Roche Holding AG (BR)		285		85,640
Roche Holding AG (Genusschein)		7,318		2,091,063
Sanofi		11,882		1,288,944
Shionogi & Co., Ltd.		2,770		124,942
Takeda Pharmaceutical Co., Ltd.		15,635		513,509
Teva Pharmaceutical Industries Ltd. (Sponsored ADR)(a)		11,113		98,350
UCB SA		1,330		118,870
Viatris, Inc.		13,038		125,426
Zoetis, Inc.		5,011		834,031
				30,119,310
				73,516,932
Industrials – 7.0%
Aerospace & Defense – 1.1%
Airbus SE		6,162		823,043
BAE Systems PLC		31,961		386,604
Boeing Co. (The)(a)		6,046		1,284,352
Dassault Aviation SA		287		56,777
Elbit Systems Ltd.		293		49,901
General Dynamics Corp.		2,419		552,040
Howmet Aerospace, Inc.		3,959		167,743
Huntington Ingalls Industries, Inc.		429		88,812
Kongsberg Gruppen ASA		909		36,744
L3Harris Technologies, Inc.		2,047		401,703
Lockheed Martin Corp.		2,443		1,154,879
MTU Aero Engines AG		564		141,135
Northrop Grumman Corp.		1,547		714,281
Raytheon Technologies Corp.		15,750		1,542,398
Rheinmetall AG		472		139,830
Rolls-Royce Holdings PLC(a)		84,306		155,280
Safran SA		3,578		529,675
Singapore Technologies Engineering Ltd.		15,730		43,303
Textron, Inc.		2,245		158,564
Thales SA		1,114		164,701
TransDigm Group, Inc.		558		411,274
				9,003,039
Air Freight & Logistics – 0.4%
CH Robinson Worldwide, Inc.		1,266		125,802
Deutsche Post AG (REG)		10,380		486,154
DSV A/S		1,952		378,488
Expeditors International of Washington, Inc.		1,711		188,415
FedEx Corp.		2,496		570,311
Kuehne & Nagel International AG (REG)		566		168,575
Nippon Express Holdings, Inc.		859		51,832

10

Company	Shares		U.S. $ Value
SG Holdings Co., Ltd.		2,929	$	43,432
United Parcel Service, Inc. - Class B		7,846		1,522,046
Yamato Holdings Co., Ltd.(b)		2,936		50,397
				3,585,452
Building Products – 0.4%
A O Smith Corp.		1,364		94,320
AGC, Inc.		2,082		77,619
Allegion PLC		944		100,753
Assa Abloy AB - Class B		10,352		247,956
Carrier Global Corp.		8,968		410,286
Cie de Saint-Gobain		5,097		289,732
Daikin Industries Ltd.(b)		2,604		467,175
Geberit AG (REG)		382		213,327
Johnson Controls International PLC		7,389		444,965
Kingspan Group PLC		1,616		110,737
Lixil Corp.		3,018		49,815
Masco Corp.		2,421		120,372
Nibe Industrier AB - Class B		15,403		175,581
Otis Worldwide Corp.		4,460		376,424
ROCKWOOL A/S - Class B		103		25,257
TOTO Ltd.		1,426		47,776
Xinyi Glass Holdings Ltd.		18,257		32,660
				3,284,755
Commercial Services & Supplies – 0.3%
Brambles Ltd.		14,464		130,411
Cintas Corp.		929		429,830
Copart, Inc.(a)		4,609		346,643
Dai Nippon Printing Co., Ltd.(b)		2,237		62,632
Rentokil Initial PLC		25,987		189,927
Republic Services, Inc.		2,208		298,566
Rollins, Inc.		2,489		93,412
Secom Co., Ltd.		2,191		135,026
Securitas AB - Class B		4,956		44,087
TOPPAN, Inc.		2,642		53,242
Waste Management, Inc.		3,993		651,538
				2,435,314
Construction & Engineering – 0.2%
ACS Actividades de Construccion y Servicios SA		2,351		74,879
Bouygues SA		2,312		77,975
Eiffage SA		896		96,962
Epiroc AB - Class A		6,819		135,357
Epiroc AB - Class B		3,929		66,991
Ferrovial SA		5,030		148,120
Kajima Corp.		4,067		49,078
Metso Outotec Oyj		6,907		75,420
Obayashi Corp.		6,542		50,062
Quanta Services, Inc.		1,536		255,959
Shimizu Corp.		5,561		31,516
Skanska AB - Class B		3,427		52,490
Taisei Corp.		1,922		59,465
Vinci SA		5,616		643,831
				1,818,105

11

Company	Shares		U.S. $ Value
Electrical Equipment – 0.6%
ABB Ltd. (REG)		16,433	$	565,320
AMETEK, Inc.		2,469		358,820
Eaton Corp. PLC		4,276		732,650
Emerson Electric Co.		6,143		535,301
First Solar, Inc.(a)		1,066		231,855
Fuji Electric Co., Ltd.		1,278		50,469
Generac Holdings, Inc.(a)		681		73,555
Legrand SA		2,813		257,030
Mitsubishi Electric Corp.		20,128		240,532
Nidec Corp.		4,664		242,719
Prysmian SpA		2,709		113,753
Rockwell Automation, Inc.		1,234		362,117
Schneider Electric SE		5,652		944,583
Siemens Energy AG(a)		4,431		97,710
Vestas Wind Systems A/S		10,580		308,348
				5,114,762
Ground Transportation – 0.5%
Aurizon Holdings Ltd.(b)		18,545		41,770
Central Japan Railway Co.		1,537		183,394
CSX Corp.		22,603		676,734
East Japan Railway Co.(b)		3,140		173,772
Grab Holdings Ltd. - Class A(a)		13,321		40,096
Hankyu Hanshin Holdings, Inc.		2,305		68,348
JB Hunt Transport Services, Inc.		892		156,510
Keio Corp.(b)		1,036		36,379
Keisei Electric Railway Co., Ltd.(b)		1,302		40,105
Kintetsu Group Holdings Co., Ltd.(b)		1,728		55,666
MTR Corp., Ltd.		15,600		75,290
Norfolk Southern Corp.		2,449		519,188
Odakyu Electric Railway Co., Ltd.(b)		2,970		38,641
Old Dominion Freight Line, Inc.		974		331,978
Tobu Railway Co., Ltd.(b)		1,902		45,535
Tokyu Corp.(b)		5,501		73,230
Union Pacific Corp.		6,578		1,323,888
West Japan Railway Co.		2,337		96,265
				3,976,789
Industrial Conglomerates – 0.7%
3M Co.		5,918		622,041
CK Hutchison Holdings Ltd.		27,958		172,966
DCC PLC		1,088		63,421
General Electric Co.		11,711		1,119,571
Hitachi Ltd.		10,153		558,016
Honeywell International, Inc.		7,183		1,372,815
Investment AB Latour - Class B(b)		1,491		30,354
Jardine Cycle & Carriage Ltd.(b)		1,023		24,091
Jardine Matheson Holdings Ltd.		1,634		79,481
Keppel Corp., Ltd.		14,674		62,258
Lifco AB - Class B		2,348		50,629
Melrose Industries PLC		40,856		84,145
Siemens AG (REG)		7,969		1,291,009
Smiths Group PLC		3,730		79,109

12

Company	Shares		U.S. $ Value
Toshiba Corp.(b)		4,068	$	136,602
				5,746,508
Machinery – 1.4%
Alfa Laval AB		2,958		105,622
Alstom SA		3,393		92,379
Atlas Copco AB - Class A		27,822		352,459
Atlas Copco AB - Class B		16,258		187,011
Caterpillar, Inc.		5,595		1,280,360
CNH Industrial NV		10,624		162,560
Cummins, Inc.		1,519		362,859
Daifuku Co., Ltd.		3,354		62,274
Daimler Truck Holding AG(a)		4,757		160,544
Deere & Co.		2,907		1,200,242
Dover Corp.		1,502		228,214
FANUC Corp.		9,990		360,761
Fortive Corp.		3,794		258,637
GEA Group AG		1,545		70,479
Hitachi Construction Machinery Co., Ltd.		1,083		25,242
Hoshizaki Corp.(b)		1,094		40,417
Husqvarna AB - Class B		4,217		36,603
IDEX Corp.		811		187,365
Illinois Tool Works, Inc.		2,985		726,698
Indutrade AB		2,776		59,076
Ingersoll Rand, Inc.		4,353		253,257
Knorr-Bremse AG		748		49,825
Komatsu Ltd.		9,617		238,743
Kone Oyj - Class B		3,413		178,002
Kubota Corp.		10,350		156,920
Kurita Water Industries Ltd.(b)		1,130		51,762
Makita Corp.(b)		2,257		56,210
MINEBEA MITSUMI, Inc.(b)		3,657		69,836
MISUMI Group, Inc.		2,864		71,967
Mitsubishi Heavy Industries Ltd.		3,370		124,154
NGK Insulators Ltd.(b)		2,207		29,266
Nordson Corp.		578		128,466
PACCAR, Inc.		5,612		410,798
Parker-Hannifin Corp.		1,379		463,496
Pentair PLC		1,769		97,773
Rational AG		60		40,331
Sandvik AB		11,112		235,861
Schindler Holding AG		435		96,386
Schindler Holding AG (REG)		244		51,635
Sembcorp Marine Ltd.(a)		280,053		25,135
SKF AB - Class B		3,852		75,872
SMC Corp.		598		317,010
Snap-on, Inc.		571		140,974
Spirax-Sarco Engineering PLC		782		114,815
Stanley Black & Decker, Inc.		1,591		128,203
Techtronic Industries Co., Ltd.		13,862		150,196
Toyota Industries Corp.		1,574		87,689
Trane Technologies PLC		2,463		453,143
VAT Group AG(b) (c)		291		105,134
Volvo AB - Class A		2,017		43,385
Volvo AB - Class B		15,630		322,082
Wartsila OYJ Abp(b)		4,769		45,006

13

Company	Shares		U.S. $ Value
Westinghouse Air Brake Technologies Corp.		1,955	$	197,572
Xylem, Inc./NY		1,938		202,909
				11,173,615
Marine Transportation – 0.1%
AP Moller - Maersk A/S - Class A		33		58,543
AP Moller - Maersk A/S - Class B		55		99,974
Mitsui OSK Lines Ltd.(b)		3,652		91,584
Nippon Yusen KK(b)		5,061		118,217
SITC International Holdings Co., Ltd.		13,511		29,037
				397,355
Passenger Airlines – 0.1%
Alaska Air Group, Inc.(a)		1,371		57,527
American Airlines Group, Inc.(a)		6,995		103,176
ANA Holdings, Inc.(a)		1,610		34,993
Delta Air Lines, Inc.(a)		6,894		240,738
Deutsche Lufthansa AG (REG)(a)		6,022		66,980
Japan Airlines Co., Ltd.		1,453		28,331
Qantas Airways Ltd.(a)		9,311		41,559
Singapore Airlines Ltd.(b)		13,499		58,228
Southwest Airlines Co.		6,389		207,898
United Airlines Holdings, Inc.(a)		3,515		155,539
				994,969
Professional Services – 0.7%
Adecco Group AG (REG)		1,749		63,707
Automatic Data Processing, Inc.		4,455		991,817
BayCurrent Consulting, Inc.		1,376		57,129
Broadridge Financial Solutions, Inc.		1,265		185,411
Bureau Veritas SA		3,139		90,191
Computershare Ltd.		5,474		79,511
CoStar Group, Inc.(a)		4,372		301,012
Equifax, Inc.		1,317		267,140
Experian PLC		9,591		315,810
Intertek Group PLC		1,729		86,596
Jacobs Solutions, Inc.		1,362		160,049
Leidos Holdings, Inc.		1,470		135,328
Nihon M&A Center Holdings, Inc.		3,051		22,868
Paychex, Inc.		3,449		395,221
Persol Holdings Co., Ltd.		1,788		36,001
Randstad NV		1,290		76,581
Recruit Holdings Co., Ltd.		14,972		411,865
RELX PLC (London)		19,883		643,949
Robert Half International, Inc.		1,158		93,300
SGS SA (REG)		68		149,991
Teleperformance		630		152,230
Verisk Analytics, Inc.		1,681		322,517
Wolters Kluwer NV		2,683		338,692
				5,376,916
Trading Companies & Distributors – 0.4%
AerCap Holdings NV(a)		1,441		81,027
Ashtead Group PLC		4,598		282,340

14

Company	Shares		U.S. $ Value
Brenntag SE		1,621	$	121,990
Bunzl PLC		3,534		133,488
Fastenal Co.		6,137		331,030
ITOCHU Corp.		12,312		400,958
Marubeni Corp.		15,764		214,386
Mitsubishi Corp.		13,031		468,288
Mitsui & Co., Ltd.		15,022		468,233
MonotaRO Co., Ltd.(b)		2,525		31,804
Reece Ltd.(b)		2,297		26,921
Sumitomo Corp.		11,667		206,685
Toyota Tsusho Corp.		2,273		96,915
United Rentals, Inc.		746		295,237
WW Grainger, Inc.		483		332,695
				3,491,997
Transportation Infrastructure – 0.1%
Aena SME SA(a) (c)		788		127,426
Aeroports de Paris(a)		341		48,681
Auckland International Airport Ltd.(a)		12,611		68,629
Getlink SE		4,433		73,010
Transurban Group(b)		31,507		300,841
				618,587
				57,018,163
Consumer Discretionary – 7.0%
Automobile Components – 0.2%
Aisin Corp.		1,484		40,903
Aptiv PLC(a)		2,913		326,809
BorgWarner, Inc.		2,517		123,610
Bridgestone Corp.		6,010		244,142
Cie Generale des Etablissements Michelin SCA		7,150		218,563
Continental AG		1,197		89,691
Denso Corp.(b)		4,542		256,384
Koito Manufacturing Co., Ltd.(b)		2,104		39,884
Sumitomo Electric Industries Ltd.		7,148		91,830
Valeo		2,088		42,845
				1,474,661
Automobiles – 1.5%
Bayerische Motoren Werke AG		3,452		378,334
Bayerische Motoren Werke AG (Preference Shares)		653		66,749
Dr Ing hc F Porsche AG (Preference Shares)(a)		1,214		155,816
Ferrari NV		1,318		357,156
Ford Motor Co.		42,094		530,384
General Motors Co.		14,994		549,980
Honda Motor Co., Ltd.(b)		16,887		446,681
Isuzu Motors Ltd.		5,874		70,200
Mazda Motor Corp.		5,729		52,844
Mercedes-Benz Group AG		8,389		645,137
Nissan Motor Co., Ltd.		23,388		88,514

15

Company	Shares		U.S. $ Value
Porsche Automobil Holding SE (Preference Shares)		1,606	$	92,196
Renault SA(a)		2,081		84,814
Stellantis NV (Milan)		23,429		426,086
Subaru Corp.		6,199		98,958
Suzuki Motor Corp.		3,856		140,426
Tesla, Inc.(a)		28,915		5,998,706
Toyota Motor Corp.(b)		110,459		1,572,428
Volkswagen AG		326		55,917
Volkswagen AG (Preference Shares)		1,935		264,074
Volvo Car AB - Class B(a)		6,056		26,493
Yamaha Motor Co., Ltd.		2,999		78,486
				12,180,379
Broadline Retail – 1.5%
Amazon.com, Inc.(a)		95,847		9,900,037
Cie Financiere Richemont SA (REG)		5,441		872,497
eBay, Inc.		5,834		258,854
Etsy, Inc.(a)		1,351		150,407
Next PLC		1,339		108,834
Pan Pacific International Holdings Corp.		3,794		73,400
Prosus NV		8,349		653,760
Rakuten Group, Inc.(b)		8,758		40,845
Wesfarmers Ltd.		11,901		402,236
				12,460,870
Distributors – 0.1%
D’ieteren Group		280		54,483
Genuine Parts Co.		1,516		253,642
LKQ Corp.		2,729		154,898
Pool Corp.		420		143,825
				606,848
Diversified Consumer Services – 0.0%
IDP Education Ltd.(b)		2,103		38,755
Pearson PLC		6,404		67,018
				105,773
Hotels, Restaurants & Leisure – 1.3%
Accor SA(a)		1,864		60,601
Amadeus IT Group SA(a)		4,712		316,097
Aristocrat Leisure Ltd.		6,079		151,990
Booking Holdings, Inc.(a)		417		1,106,055
Caesars Entertainment, Inc.(a)		2,307		112,605
Carnival Corp.(a) (b)		10,774		109,356
Chipotle Mexican Grill, Inc.(a)		297		507,362
Compass Group PLC		18,199		457,369
Darden Restaurants, Inc.		1,308		202,949
Delivery Hero SE(a) (c)		1,764		60,179
Domino’s Pizza, Inc.		381		125,680
Entain PLC		5,908		91,752
Evolution AB(c)		1,922		257,506
Expedia Group, Inc.(a)		1,589		154,181
Flutter Entertainment PLC Class DI(a)		1,757		319,724

16

Company	Shares		U.S. $ Value
Galaxy Entertainment Group Ltd.(a)		22,738	$	152,098
Genting Singapore Ltd.		60,925		51,421
Hilton Worldwide Holdings, Inc.		2,865		403,592
InterContinental Hotels Group PLC		1,827		119,606
Just Eat Takeaway.com NV(a) (b) (c)		1,820		34,731
La Francaise des Jeux SAEM(c)		1,096		45,679
Las Vegas Sands Corp.(a)		3,533		202,971
Lottery Corp. Ltd. (The)		22,425		77,128
Marriott International, Inc./MD - Class A		2,893		480,354
McDonald’s Corp.		7,874		2,201,649
McDonald’s Holdings Co. Japan Ltd.(b)		929		38,622
MGM Resorts International		3,383		150,273
Norwegian Cruise Line Holdings Ltd.(a)		4,531		60,942
Oriental Land Co., Ltd./Japan(b)		10,420		356,773
Royal Caribbean Cruises Ltd.(a)		2,360		154,108
Sands China Ltd.(a)		24,462		84,981
Sodexo SA		953		93,080
Starbucks Corp.		12,356		1,286,630
Whitbread PLC		2,170		80,162
Wynn Resorts Ltd.(a)		1,109		124,108
Yum! Brands, Inc.		3,010		397,561
				10,629,875
Household Durables – 0.4%
Barratt Developments PLC		10,300		59,274
Berkeley Group Holdings PLC		1,131		58,595
DR Horton, Inc.		3,360		328,238
Electrolux AB - Class B		2,277		27,676
Garmin Ltd.		1,648		166,316
Iida Group Holdings Co., Ltd.		1,483		24,212
Lennar Corp. - Class A		2,726		286,530
Mohawk Industries, Inc.(a)		567		56,825
Newell Brands, Inc.		4,047		50,345
NVR, Inc.(a)		33		183,882
Open House Group Co., Ltd.(b)		825		30,938
Panasonic Holdings Corp.(b)		22,877		204,683
Persimmon PLC		3,215		49,922
PulteGroup, Inc.		2,425		141,329
SEB SA		278		31,632
Sekisui Chemical Co., Ltd.		3,800		53,969
Sekisui House Ltd.		6,477		132,009
Sharp Corp./Japan(a) (b)		2,157		15,251
Sony Group Corp.		13,136		1,196,471
Taylor Wimpey PLC		36,789		54,123
Whirlpool Corp.		586		77,364
				3,229,584
Leisure Products – 0.1%
Bandai Namco Holdings, Inc.		6,240		134,529
Hasbro, Inc.		1,396		74,951
Shimano, Inc.		773		134,027
Yamaha Corp.		1,474		56,932
				400,439

17

Company	Shares		U.S. $ Value
Specialty Retail – 1.1%
Advance Auto Parts, Inc.		637	$	77,466
AutoZone, Inc.(a)		202		496,546
Bath & Body Works, Inc.		2,456		89,840
Best Buy Co., Inc.		2,117		165,698
CarMax, Inc.(a)		1,699		109,212
Fast Retailing Co., Ltd.		1,848		404,550
H & M Hennes & Mauritz AB - Class B		7,358		105,201
Hikari Tsushin, Inc.		211		29,651
Home Depot, Inc. (The)		10,957		3,233,630
Industria de Diseno Textil SA		11,382		382,381
JD Sports Fashion PLC		25,984		57,223
Kingfisher PLC		19,545		63,179
Lowe’s Cos., Inc.		6,501		1,300,005
Nitori Holdings Co., Ltd.(b)		863		104,217
O’Reilly Automotive, Inc.(a)		670		568,817
Ross Stores, Inc.		3,702		392,893
TJX Cos., Inc. (The)		12,423		973,466
Tractor Supply Co.		1,188		279,228
Ulta Beauty, Inc.(a)		547		298,482
USS Co., Ltd.		1,906		33,068
Zalando SE(a) (c)		2,410		101,004
ZOZO, Inc.		1,255		28,704
				9,294,461
Textiles, Apparel & Luxury Goods – 0.8%
adidas AG		1,688		299,236
Burberry Group PLC		4,080		130,641
Hermes International		332		672,385
Kering SA		785		512,156
LVMH Moet Hennessy Louis Vuitton SE		2,884		2,647,248
Moncler SpA		2,183		150,783
NIKE, Inc. - Class B		13,392		1,642,395
Pandora A/S		987		94,740
Puma SE		1,150		71,291
Ralph Lauren Corp.		442		51,568
Swatch Group AG (The) (REG)		610		38,678
Swatch Group AG (The)		313		107,794
Tapestry, Inc.		2,538		109,413
VF Corp.		3,552		81,376
				6,609,704
				56,992,594
Consumer Staples – 5.4%
Beverages – 1.2%
Anheuser-Busch InBev SA/NV		9,111		607,338
Asahi Group Holdings Ltd.		4,750		176,786
Brown-Forman Corp. - Class B		1,966		126,355
Budweiser Brewing Co. APAC Ltd.(c)		17,346		52,790
Carlsberg AS - Class B		1,039		161,218
Coca-Cola Co. (The)		41,844		2,595,583
Coca-Cola Europacific Partners PLC		2,174		128,679
Coca-Cola HBC AG(a)		2,025		55,435

18

Company	Shares		U.S. $ Value
Constellation Brands, Inc. - Class A		1,746	$	394,404
Davide Campari-Milano NV		5,266		64,255
Diageo PLC		23,703		1,057,856
Heineken Holding NV		1,200		110,098
Heineken NV		2,717		291,944
Keurig Dr Pepper, Inc.		9,136		322,318
Kirin Holdings Co., Ltd.		8,287		131,107
Molson Coors Beverage Co. - Class B		2,021		104,445
Monster Beverage Corp.(a)		8,190		442,342
PepsiCo, Inc.		14,807		2,699,316
Pernod Ricard SA		2,162		489,543
Remy Cointreau SA		258		46,977
Suntory Beverage & Food Ltd.		1,400		52,148
Treasury Wine Estates Ltd.		7,272		63,839
				10,174,776
Consumer Staples Distribution & Retail – 1.2%
Aeon Co., Ltd.		6,832		132,546
Carrefour SA		6,221		125,774
Coles Group Ltd.		13,940		168,432
Costco Wholesale Corp.		4,771		2,370,567
Dollar General Corp.		2,404		505,946
Dollar Tree, Inc.(a)		2,235		320,834
Endeavour Group Ltd./Australia(b)		14,923		67,800
HelloFresh SE(a)		1,664		39,682
J Sainsbury PLC		17,625		60,651
Jeronimo Martins SGPS SA		2,853		66,968
Kesko Oyj - Class B		2,751		59,123
Kobe Bussan Co., Ltd.		1,597		44,592
Koninklijke Ahold Delhaize NV		10,902		372,468
Kroger Co. (The)		7,003		345,738
MatsukiyoCocokara & Co.		1,192		63,142
Ocado Group PLC(a) (b)		5,923		39,218
Seven & i Holdings Co., Ltd.		7,835		353,939
Sysco Corp.		5,457		421,444
Target Corp.		4,949		819,703
Tesco PLC		75,669		248,075
Walgreens Boots Alliance, Inc.		7,697		266,162
Walmart, Inc.		15,077		2,223,104
Welcia Holdings Co., Ltd.(b)		950		20,338
Woolworths Group Ltd.(b)		12,671		322,131
				9,458,377
Food Products – 1.2%
Ajinomoto Co., Inc.		4,703		163,607
Archer-Daniels-Midland Co.		5,882		468,560
Associated British Foods PLC		3,589		86,128
Barry Callebaut AG (REG)		38		80,513
Bunge Ltd.		1,611		153,883
Campbell Soup Co.		2,157		118,592
Chocoladefabriken Lindt & Spruengli AG (REG)		1		118,436
Chocoladefabriken Lindt & Spruengli AG		11		129,917
Conagra Brands, Inc.		5,124		192,458
Danone SA		6,752		420,134
General Mills, Inc.		6,339		541,731
Hershey Co. (The)		1,580		401,968

19

Company	Shares		U.S. $ Value
Hormel Foods Corp.		3,114	$	124,186
JDE Peet’s NV		1,011		29,406
JM Smucker Co. (The)		1,147		180,503
Kellogg Co.		2,752		184,274
Kerry Group PLC - Class A		1,652		164,746
Kikkoman Corp.		1,552		79,235
Kraft Heinz Co. (The)		8,560		331,015
Lamb Weston Holdings, Inc.		1,547		161,692
McCormick & Co., Inc./MD		2,696		224,334
MEIJI Holdings Co., Ltd.(b)		2,438		57,984
Mondelez International, Inc. - Class A		14,657		1,021,886
Mowi ASA		4,205		77,776
Nestle SA (REG)		28,644		3,492,577
Nisshin Seifun Group, Inc.(b)		1,993		23,324
Nissin Foods Holdings Co., Ltd.		638		58,339
Orkla ASA		7,567		53,669
Salmar ASA		747		32,539
Tyson Foods, Inc. - Class A		3,071		182,172
WH Group Ltd.(c)		84,024		50,091
Wilmar International Ltd.		19,354		61,316
Yakult Honsha Co., Ltd.		1,381		100,344
				9,567,335
Household Products – 0.8%
Church & Dwight Co., Inc.		2,622		231,811
Clorox Co. (The)		1,328		210,143
Colgate-Palmolive Co.		8,979		674,772
Essity AB - Class B		6,338		181,038
Henkel AG & Co. KGaA		1,131		82,276
Henkel AG & Co. KGaA (Preference Shares)		1,875		146,689
Kimberly-Clark Corp.		3,629		487,084
Procter & Gamble Co. (The)		25,363		3,771,224
Reckitt Benckiser Group PLC		7,485		569,440
Unicharm Corp.		4,216		173,302
				6,527,779
Personal Care Products – 0.5%
Beiersdorf AG		1,065		138,543
Estee Lauder Cos., Inc. (The) - Class A		2,491		613,932
Haleon PLC		51,669		205,252
Kao Corp.		4,903		190,851
Kobayashi Pharmaceutical Co., Ltd.		537		32,842
Kose Corp.		385		45,760
L’Oreal SA		2,516		1,124,256
Shiseido Co., Ltd.		4,168		195,409
Unilever PLC (London)		26,465		1,371,390
				3,918,235
Tobacco – 0.5%
Altria Group, Inc.		19,196		856,525
British American Tobacco PLC		22,128		775,683
Imperial Brands PLC		9,372		215,515
Japan Tobacco, Inc.		12,430		262,566

20

Company	Shares		U.S. $ Value
Philip Morris International, Inc.		16,667	$	1,620,866
				3,731,155
				43,377,657
Communication Services – 4.6%
Diversified Telecommunication Services – 1.1%
AT&T, Inc.		76,634		1,475,204
Bezeq The Israeli Telecommunication Corp., Ltd.		21,484		29,249
BT Group PLC		70,623		127,215
Cellnex Telecom SA(c)		5,887		228,931
Charter Communications, Inc. - Class A(a)		1,132		404,814
Comcast Corp. - Class A		45,226		1,714,518
Deutsche Telekom AG (REG)		33,799		819,027
Elisa Oyj		1,530		92,276
HKT Trust & HKT Ltd.		38,163		50,661
Infrastrutture Wireless Italiane SpA(c)		3,386		44,486
Koninklijke KPN NV		34,215		120,901
Nippon Telegraph & Telephone Corp.		12,381		369,978
Orange SA		20,664		245,492
Singapore Telecommunications Ltd.		86,008		159,362
Spark New Zealand Ltd.		18,834		59,670
Swisscom AG (REG)		278		177,412
Telecom Italia SpA/Milano(a) (b)		100,391		33,107
Telefonica Deutschland Holding AG		10,489		32,288
Telefonica SA		54,139		233,167
Telenor ASA		7,049		82,651
Telia Co. AB		26,782		68,006
Telstra Group Ltd.		40,108		113,562
United Internet AG (REG)		977		16,842
Verizon Communications, Inc.		45,153		1,756,000
Washington H Soul Pattinson & Co., Ltd.(b)		2,181		44,202
				8,499,021
Entertainment – 0.8%
Activision Blizzard, Inc.		7,657		655,363
Bollore SE		8,908		55,066
Capcom Co., Ltd.		1,774		63,493
Electronic Arts, Inc.		2,801		337,380
Embracer Group AB(a) (b)		6,492		30,430
Koei Tecmo Holdings Co., Ltd.(b)		1,184		21,399
Konami Group Corp.		1,050		48,193
Live Nation Entertainment, Inc.(a)		1,533		107,310
Netflix, Inc.(a)		4,788		1,654,158
Nexon Co., Ltd.(b)		4,977		118,845
Nintendo Co., Ltd.		11,478		445,823
Sea Ltd. (ADR)(a)		3,814		330,102
Square Enix Holdings Co., Ltd.		864		41,520
Take-Two Interactive Software, Inc.(a)		1,705		203,407

21

Company	Shares		U.S. $ Value
Toho Co., Ltd./Tokyo		1,127	$	43,208
Universal Music Group NV		7,524		190,543
Walt Disney Co. (The)(a)		19,640		1,966,553
Warner Bros Discovery, Inc.(a)		23,758		358,746
				6,671,539
Interactive Media & Services – 2.2%
Adevinta ASA(a)		2,936		20,843
Alphabet, Inc. - Class A(a)		64,034		6,642,247
Alphabet, Inc. - Class C(a)		55,821		5,805,384
Auto Trader Group PLC(c)		9,578		73,058
Match Group, Inc.(a)		3,003		115,285
Meta Platforms, Inc. - Class A(a)		23,929		5,071,512
REA Group Ltd.(b)		593		55,293
Scout24 SE(c)		842		50,081
SEEK Ltd.(b)		3,387		54,751
Z Holdings Corp.(b)		26,998		76,552
				17,965,006
Media – 0.2%
CyberAgent, Inc.		4,076		34,535
Dentsu Group, Inc.		2,179		76,806
DISH Network Corp. - Class A(a)		2,702		25,210
Fox Corp. - Class A		3,192		108,688
Fox Corp. - Class B		1,482		46,401
Hakuhodo DY Holdings, Inc.		2,354		26,688
Informa PLC		14,350		123,000
Interpublic Group of Cos., Inc. (The)		4,177		155,552
News Corp. - Class A		4,111		70,997
News Corp. - Class B		1,267		22,084
Omnicom Group, Inc.		2,179		205,567
Paramount Global - Class B		5,430		121,143
Publicis Groupe SA		2,394		186,875
Vivendi SE		7,323		74,047
WPP PLC		10,905		129,561
				1,407,154
Wireless Telecommunication Services – 0.3%
KDDI Corp.		16,730		515,915
SoftBank Corp.(b)		29,917		345,356
SoftBank Group Corp.		12,643		497,041
T-Mobile US, Inc.(a)		6,368		922,341
Tele2 AB - Class B		5,769		57,419
Vodafone Group PLC		267,672		295,268
				2,633,340
				37,176,060
Energy – 3.0%
Energy Equipment & Services – 0.2%
Baker Hughes Co.		10,816		312,149

22

Company	Shares		U.S. $ Value
Halliburton Co.		9,720	$	307,541
Schlumberger NV		15,269		749,708
Tenaris SA		4,757		67,403
				1,436,801
Oil, Gas & Consumable Fuels – 2.8%
Aker BP ASA		3,337		81,840
Ampol Ltd.		2,400		48,931
APA Corp.		3,457		124,659
BP PLC		189,022		1,194,717
Chevron Corp.		19,126		3,120,598
ConocoPhillips		13,158		1,305,405
Coterra Energy, Inc.		8,477		208,026
Devon Energy Corp.		7,028		355,687
Diamondback Energy, Inc.		1,976		267,096
ENEOS Holdings, Inc.		30,918		108,476
Eni SpA(b)		25,897		361,169
EOG Resources, Inc.		6,315		723,888
EQT Corp.		3,946		125,917
Equinor ASA		10,006		284,455
Exxon Mobil Corp.		44,273		4,854,977
Galp Energia SGPS SA		5,050		57,142
Hess Corp.		2,983		394,770
Idemitsu Kosan Co., Ltd.(b)		2,100		45,975
Inpex Corp.		10,772		113,995
Kinder Morgan, Inc.		21,268		372,403
Marathon Oil Corp.		6,828		163,599
Marathon Petroleum Corp.		4,881		658,105
Neste Oyj		4,479		221,280
Occidental Petroleum Corp.		7,817		488,015
OMV AG		1,582		72,650
ONEOK, Inc.		4,805		305,310
Phillips 66		5,010		507,914
Pioneer Natural Resources Co.		2,554		521,629
Repsol SA		14,284		219,657
Santos Ltd.		32,417		149,196
Shell PLC		73,514		2,095,044
Targa Resources Corp.		2,434		177,560
TotalEnergies SE		25,917		1,528,162
Valero Energy Corp.		4,145		578,642
Williams Cos., Inc. (The)		13,095		391,017
Woodside Energy Group Ltd.(b)		19,685		439,766
				22,667,672
				24,104,473
Materials – 2.7%
Chemicals – 1.4%
Air Liquide SA		5,454		912,937
Air Products and Chemicals, Inc.		2,388		685,858
Akzo Nobel NV		1,888		147,669
Albemarle Corp.		1,260		278,510
Arkema SA		668		65,956
Asahi Kasei Corp.		12,639		88,525
BASF SE		9,565		502,150
Celanese Corp.		1,072		116,730
CF Industries Holdings, Inc.		2,109		152,881
Chr Hansen Holding A/S		1,143		86,949
Clariant AG (REG)(a)		2,173		36,049

23

Company	Shares		U.S. $ Value
Corteva, Inc.		7,664	$	462,216
Covestro AG(c)		2,076		85,974
Croda International PLC		1,464		117,667
Dow, Inc.		7,578		415,426
DuPont de Nemours, Inc.		4,925		353,467
Eastman Chemical Co.		1,277		107,702
Ecolab, Inc.		2,664		440,972
EMS-Chemie Holding AG (REG)		77		63,650
Evonik Industries AG		2,112		44,435
FMC Corp.		1,354		165,364
Givaudan SA (REG)		97		315,714
ICL Group Ltd.		6,562		44,461
IMCD NV		609		99,581
International Flavors & Fragrances, Inc.		2,741		252,062
Johnson Matthey PLC		1,949		47,782
JSR Corp.(b)		1,839		43,504
Koninklijke DSM NV		1,834		217,043
Linde PLC		5,295		1,882,055
LyondellBasell Industries NV - Class A		2,731		256,414
Mitsubishi Chemical Group Corp.		12,899		76,716
Mitsui Chemicals, Inc.		1,855		47,897
Mosaic Co. (The)		3,661		167,967
Nippon Paint Holdings Co., Ltd.(b)		8,359		78,600
Nippon Sanso Holdings Corp.(b)		1,792		32,375
Nissan Chemical Corp.(b)		1,313		59,633
Nitto Denko Corp.		1,516		98,117
Novozymes A/S - Class B		2,164		110,804
OCI NV		1,071		36,307
Orica Ltd.		4,655		48,088
PPG Industries, Inc.		2,527		337,557
Sherwin-Williams Co. (The)		2,535		569,792
Shin-Etsu Chemical Co., Ltd.		19,265		625,362
Sika AG (REG)		1,523		427,195
Solvay SA		809		92,522
Sumitomo Chemical Co., Ltd.		15,011		50,542
Symrise AG		1,383		150,504
Toray Industries, Inc.		13,972		79,930
Tosoh Corp.		2,620		35,604
Umicore SA		2,129		72,218
Yara International ASA		1,775		77,143
				11,764,576
Construction Materials – 0.2%
CRH PLC		7,783		393,199
HeidelbergCement AG		1,499		109,453
Holcim AG(a)		5,826		375,726
James Hardie Industries PLC		4,721		101,614
Martin Marietta Materials, Inc.		668		237,180
Vulcan Materials Co.		1,429		245,159
				1,462,331
Containers & Packaging – 0.1%
Amcor PLC		15,974		181,784
Avery Dennison Corp.		871		155,848
Ball Corp.		3,375		185,996
International Paper Co.		3,824		137,893
Packaging Corp. of America		995		138,136
Sealed Air Corp.		1,555		71,390

24

Company	Shares		U.S. $ Value
SIG Group AG		3,105	$	79,995
Smurfit Kappa Group PLC		2,618		94,955
Westrock Co.		2,738		83,427
				1,129,424
Metals & Mining – 0.9%
Anglo American PLC		13,324		443,176
Antofagasta PLC		3,973		77,821
ArcelorMittal SA		5,575		168,902
BHP Group Ltd.		52,766		1,668,140
BlueScope Steel Ltd.		4,518		61,153
Boliden AB		2,899		113,885
Fortescue Metals Group Ltd.		17,540		263,654
Freeport-McMoRan, Inc.		15,367		628,664
Glencore PLC		107,286		617,347
IGO Ltd.		7,059		60,532
JFE Holdings, Inc.		4,952		62,853
Mineral Resources Ltd.(b)		1,825		98,654
Newcrest Mining Ltd.		9,309		166,169
Newmont Corp. (New York)		8,534		418,337
Nippon Steel Corp.		8,433		198,863
Norsk Hydro ASA		13,549		101,122
Northern Star Resources Ltd.		12,068		98,959
Nucor Corp.		2,720		420,158
Pilbara Minerals Ltd.(b)		26,278		69,910
Rio Tinto Ltd.		3,876		311,436
Rio Tinto PLC		11,721		795,597
South32 Ltd.		46,987		137,706
Steel Dynamics, Inc.		1,793		202,716
Sumitomo Metal Mining Co., Ltd.		2,644		101,170
voestalpine AG		1,169		39,749
				7,326,673
Paper & Forest Products – 0.1%
Holmen AB - Class B		954		36,779
Mondi PLC		4,892		77,670
Oji Holdings Corp.		8,176		32,372
Stora Enso Oyj - Class R		5,601		72,868
Svenska Cellulosa AB SCA - Class B		6,104		80,393
UPM-Kymmene Oyj(a)		5,520		185,406
				485,488
				22,168,492
Utilities – 2.0%
Electric Utilities – 1.2%
Acciona SA		276		55,377
Alliant Energy Corp.		2,699		144,127
American Electric Power Co., Inc.		5,525		502,720
BKW AG		219		34,433
Chubu Electric Power Co., Inc.		6,491		68,476
CK Infrastructure Holdings Ltd.		5,927		32,248
CLP Holdings Ltd.		16,545		119,556
Constellation Energy Corp.		3,516		276,006
Duke Energy Corp.		8,278		798,579

25

Company	Shares		U.S. $ Value
Edison International		4,106	$	289,843
EDP - Energias de Portugal SA		27,968		152,395
Elia Group SA/NV		363		47,936
Endesa SA		3,200		69,503
Enel SpA		84,717		516,685
Entergy Corp.		2,188		235,735
Evergy, Inc.		2,468		150,844
Eversource Energy		3,745		293,084
Exelon Corp.		10,684		447,553
FirstEnergy Corp.		5,840		233,950
Fortum Oyj(a)		4,474		68,535
Iberdrola SA		63,646		792,889
Kansai Electric Power Co., Inc. (The)(b)		7,093		69,078
Mercury NZ Ltd.		6,864		27,150
NextEra Energy, Inc.		21,364		1,646,737
NRG Energy, Inc.		2,477		84,936
Origin Energy Ltd.		17,744		98,818
Orsted AS(c)		2,009		171,303
PG&E Corp.(a)		17,310		279,903
Pinnacle West Capital Corp.		1,216		96,356
Power Assets Holdings Ltd.		13,977		74,984
PPL Corp.		7,916		219,986
Red Electrica Corp. SA		4,124		72,567
Southern Co. (The)		11,704		814,364
SSE PLC		11,258		251,209
Terna - Rete Elettrica Nazionale		14,175		116,340
Tokyo Electric Power Co. Holdings, Inc.(a)		15,381		54,944
Verbund AG		742		64,541
Xcel Energy, Inc.		5,884		396,817
				9,870,507
Gas Utilities – 0.1%
APA Group		11,887		80,751
Atmos Energy Corp.		1,539		172,922
Enagas SA		2,507		48,174
Hong Kong & China Gas Co., Ltd.		112,802		99,312
Naturgy Energy Group SA(b)		1,478		44,493
Osaka Gas Co., Ltd.		3,778		62,064
Snam SpA		20,316		107,716
Tokyo Gas Co., Ltd.		4,034		75,812
				691,244
Independent Power and Renewable Electricity Producers – 0.1%
AES Corp. (The)		7,181		172,918
Corp. ACCIONA Energias Renovables SA(b)		682		26,449
EDP Renovaveis SA		2,903		66,496
Meridian Energy Ltd.		12,972		42,676
RWE AG		6,698		288,204
				596,743
Multi-Utilities – 0.5%
Ameren Corp.		2,779		240,078
CenterPoint Energy, Inc.		6,768		199,385
CMS Energy Corp.		3,131		192,181
Consolidated Edison, Inc.		3,815		364,981

26

Company	Shares		U.S. $ Value
Dominion Energy, Inc.		8,959	$	500,898
DTE Energy Co.		2,083		228,172
E.ON SE		23,255		290,099
Engie SA		18,918		299,371
National Grid PLC		37,911		512,822
NiSource, Inc.		4,366		122,073
Public Service Enterprise Group, Inc.		5,364		334,982
Sempra Energy		3,379		510,770
United Utilities Group PLC		6,870		89,911
Veolia Environnement SA		6,977		215,290
WEC Energy Group, Inc.		3,391		321,433
				4,422,446
Water Utilities – 0.1%
American Water Works Co., Inc.		2,075		303,967
Severn Trent PLC		2,673		94,953
				398,920
				15,979,860
Real Estate – 1.6%
Diversified REITs – 0.0%
British Land Co. PLC (The)		8,871		42,551
Daiwa House REIT Investment Corp.		25		51,225
GPT Group (The)(b)		19,300		55,155
Land Securities Group PLC		7,097		54,480
Mirvac Group(b)		39,723		55,637
Nomura Real Estate Master Fund, Inc.		46		51,547
Stockland		24,051		64,404
				374,999
Health Care REITs – 0.1%
Healthpeak Properties, Inc.		5,879		129,162
Ventas, Inc.		4,300		186,405
Welltower, Inc.		5,080		364,185
				679,752
Hotel & Resort REITs – 0.0%
Host Hotels & Resorts, Inc.		7,687		126,759
Industrial REITs – 0.2%
CapitaLand Ascendas REIT		33,812		72,906
GLP J-Reit		51		55,127
Goodman Group		17,530		222,453
Mapletree Logistics Trust		31,227		40,282
Nippon Prologis REIT, Inc.		25		52,926
Prologis, Inc.		9,924		1,238,218
Segro PLC		12,114		115,395
Warehouses De Pauw CVA		1,696		50,432
				1,847,739
Office REITs – 0.1%
Alexandria Real Estate Equities, Inc.		1,693		212,624
Boston Properties, Inc.		1,534		83,020
Covivio SA/France		524		30,481
Dexus(b)		10,836		54,785
Gecina SA		518		53,769
Japan Real Estate Investment Corp.		13		51,808

27

Company	Shares		U.S. $ Value
Nippon Building Fund, Inc.		16	$	66,600
				553,087
Real Estate Management & Development – 0.3%
Aroundtown SA		10,065		14,388
Azrieli Group Ltd.		427		24,535
Capitaland Investment Ltd./Singapore		26,947		74,765
CBRE Group, Inc. - Class A(a)		3,397		247,336
City Developments Ltd.		4,093		22,712
CK Asset Holdings Ltd.		20,190		122,405
Daito Trust Construction Co., Ltd.		659		65,656
Daiwa House Industry Co., Ltd.		6,312		148,719
ESR Group Ltd.(c)		19,958		35,790
Fastighets AB Balder - Class B(a)		6,354		26,106
Hang Lung Properties Ltd.		20,399		38,171
Henderson Land Development Co., Ltd.		14,633		50,627
Hongkong Land Holdings Ltd.		11,598		51,025
Hulic Co., Ltd.		3,868		31,815
LEG Immobilien SE		808		44,405
Lendlease Corp., Ltd.(b)		6,939		33,770
Mitsubishi Estate Co., Ltd.		11,724		139,453
Mitsui Fudosan Co., Ltd.		9,510		178,640
New World Development Co., Ltd.		15,213		40,780
Nomura Real Estate Holdings, Inc.		1,195		26,462
Sagax AB - Class B		1,934		44,579
Sino Land Co., Ltd.		33,532		45,346
Sumitomo Realty & Development Co., Ltd.		3,117		70,386
Sun Hung Kai Properties Ltd.		15,091		211,419
Swire Pacific Ltd. - Class A		4,408		33,875
Swire Properties Ltd.		11,788		30,339
Swiss Prime Site AG (REG)		814		67,690
Unibail-Rodamco-Westfield(a)		1,282		68,661
UOL Group Ltd.		4,678		24,425
Vonovia SE		7,549		142,184
Wharf Real Estate Investment Co., Ltd.		16,824		96,862
				2,253,326
Residential REITs – 0.2%
AvalonBay Communities, Inc.		1,504		252,762
Camden Property Trust		1,184		124,131
Equity Residential		3,662		219,720
Essex Property Trust, Inc.		695		145,352
Invitation Homes, Inc.		6,245		195,031
Mid-America Apartment Communities, Inc.		1,242		187,592
UDR, Inc.		3,325		136,524
				1,261,112
Retail REITs – 0.2%
CapitaLand Integrated Commercial Trust		53,735		80,142
Federal Realty Investment Trust		787		77,779
Japan Metropolitan Fund Invest		77		56,229
Kimco Realty Corp.		6,649		129,855
Klepierre SA		2,286		51,829
Link REIT		26,342		169,385
Mapletree Pan Asia Commercial Trust		21,757		29,498
Realty Income Corp.		6,743		426,967
Regency Centers Corp.		1,656		101,314
Scentre Group		52,294		96,801

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Company	Shares			U.S. $ Value
Simon Property Group, Inc.			3,515	$	393,575
Vicinity Centres			38,985		50,986
					1,664,360
Specialized REITs – 0.5%
American Tower Corp.			5,006		1,022,926
Crown Castle, Inc.			4,655		623,025
Digital Realty Trust, Inc.			3,091		303,876
Equinix, Inc.			995		717,435
Extra Space Storage, Inc.			1,440		234,619
Iron Mountain, Inc.			3,126		165,397
Public Storage			1,699		513,336
SBA Communications Corp.			1,161		303,102
VICI Properties, Inc.			10,791		352,003
Weyerhaeuser Co.			7,878		237,364
					4,473,083
					13,234,217
Total Common Stocks (cost $557,561,777)					528,930,969
	Notional Amount
PURCHASED OPTIONS – PUTS – 0.0%
Options on Indices – 0.0%
Euro STOXX 50 Index Expiration: Apr 2023; Contracts: 4,740; Exercise Price: EUR 3,975.00; Counterparty: Morgan Stanley & Co., Inc.(a)		EUR	18,841,500		48,321
FTSE 100 Index Expiration: Apr 2023; Contracts: 900; Exercise Price: GBP 7,150.00; Counterparty: Morgan Stanley & Co., Inc.(a)		GBP	6,435,000		13,045
Nikkei 225 Index Expiration: Apr 2023; Contracts: 79,000; Exercise Price: JPY 27,125.00; Counterparty: Morgan Stanley & Co., Inc.(a)		JPY	2,142,875,000		39,270
S&P 500 Index Expiration: Apr 2023; Contracts: 26,000; Exercise Price: USD 3,860.00; Counterparty: Morgan Stanley & Co., Inc.(a)		USD	100,360,000		254,800
Total Purchased Options - Puts (premiums paid $2,625,412)					355,436
	Shares
SHORT-TERM INVESTMENTS – 28.1%
Investment Companies – 28.1%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.75%(d) (e) (f) (cost $226,973,453)			226,973,453		226,973,453
Total Investments Before Security Lending Collateral for Securities Loaned – 93.5% (cost $787,160,642)					756,259,858

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Company	Shares		U.S. $ Value
INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.2%
Investment Companies – 0.2%
AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.75%(d) (e) (f) (cost $1,618,087)		1,618,087	$	1,618,087
Total Investments – 93.7% (cost $788,778,729)(g)				757,877,945
Other assets less liabilities – 6.3%				51,025,598
Net Assets – 100.0%			$	808,903,543

FUTURES

Description	Number of Contracts		Expiration Month		Current Notional			Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
10 Yr Canadian Bond Futures		103		June 2023		$	9,614,858		$	386,785
Euro STOXX 50 Index Futures		70		June 2023			3,234,738			127,553
Euro-BTP Futures		139		June 2023			17,388,492			643,049
Euro-Bund Futures		39		June 2023			5,745,420			225,383
Euro-OAT Futures		72		June 2023			10,168,878			377,050
FTSE 100 Index Futures		13		June 2023			1,225,050			47,214
Hang Seng Index Futures		17		April 2023			2,217,716			88,934
Long Gilt Futures		143		June 2023			18,231,426			457,420
MSCI EAFE Futures		6		June 2023			628,950			16,084
MSCI Emerging Markets Futures		115		June 2023			5,724,125			217,101
Nikkei 225 (CME) Futures		20		June 2023			2,827,000			40,937
OMXS 30 Index Futures		207		April 2023			4,421,112			166,414
S&P 500 E-Mini Futures		89		June 2023			18,412,988			761,621
S&P Mid 400 E-Mini Futures		5		June 2023			1,264,850			51,948
S&P/TSX 60 Index Futures		52		June 2023			9,304,980			232,965
TOPIX Index Futures		6		June 2023			905,366			(4,027	)
U.S. T-Note 5 Yr (CBT) Futures		460		June 2023			50,373,594			768,359
U.S. T-Note 10 Yr (CBT) Futures		830		June 2023			95,385,156			2,516,737
U.S. Ultra Bond (CBT) Futures		115		June 2023			16,229,375			652,982
Sold Contracts
Euro STOXX 50 Index Futures		291		June 2023			13,447,267			(594,157	)
FTSE 100 Index Futures		52		June 2023			4,900,202			(47,660	)
MSCI Singapore IX ETS Futures		78		April 2023			1,794,973			(33,191	)
S&P 500 E-Mini Futures		317		June 2023			65,583,337			(2,438,160	)
SPI 200 Futures		66		June 2023			7,931,261			(188,024	)
									$	4,473,317

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FORWARD CURRENCY EXCHANGE CONTRACTS
Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America, NA		AUD	1,189		USD	825		04/13/2023	$	29,603
Bank of America, NA		SEK	37,573		USD	3,619		04/21/2023		(4,939	)
Bank of America, NA		JPY	3,806,888		USD	29,286		04/28/2023		514,972
Bank of America, NA		EUR	50,546		USD	53,810		05/11/2023		(1,121,493	)
Bank of America, NA		GBP	20,936		USD	25,636		05/24/2023		(216,916	)
Bank of America, NA		USD	7,980		GBP	6,465		05/24/2023		2,475
Bank of New York		USD	15,973		EUR	14,702		05/11/2023		4,492
Barclays Bank PLC		AUD	8,187		USD	5,761		04/13/2023		287,079
Deutsche Bank AG		CAD	5,330		USD	3,917		06/09/2023		(30,598	)
Goldman Sachs Bank USA		USD	2,760		AUD	3,935		04/13/2023		(129,151	)
Goldman Sachs Bank USA		CNH	33,506		USD	4,929		04/20/2023		48,169
Morgan Stanley Capital Services, Inc.		CHF	10,605		USD	11,416		05/24/2023		(237,049	)
State Street Bank & Trust Co.		NOK	3,521		USD	354		04/21/2023		17,265
									$	(836,091	)

PUT OPTIONS WRITTEN

Description	Counterparty	Contracts	Exercise Price			Expiration Month		Notional (000)			Premiums Received		U.S. $ Value
Euro STOXX 50 Index(h)	Morgan Stanley & Co., Inc.	474		EUR	3,800.00		April 2023		EUR	18,012	$	285,551	$	(24,418)
FTSE 100 Index(h)	Morgan Stanley & Co., Inc.	90		GBP	6,850.00		April 2023		GBP	6,165		76,014		(6,661)
Nikkei 225 Index(i)	Morgan Stanley & Co., Inc.	79		JPY	26,000.00		April 2023		JPY	2,054,000		64,835		(9,817)
S&P 500 Index(j)	Morgan Stanley & Co., Inc.	260		USD	3,680.00		April 2023		USD	95,680		836,662		(85,800)
											$	1,263,062	$	(126,696)

(a) Non-income producing security.

(b) Represents entire or partial securities out on loan.

(c) Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At March 31, 2023, the aggregate market value of these securities amounted to $2,450,150 or 0.3% of net assets.

(d) Affiliated investments.

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

(g) As of March 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $52,939,007 and gross unrealized depreciation of investments was $(79,066,199), resulting in net unrealized depreciation of $(26,127,192).

(h) One contract relates to 10 shares.

(i) One contract relates to 1000 shares.

(j) One contract relates to 100 shares.

Currency Abbreviations:

AUD – Australian Dollar

CAD – Canadian Dollar

CHF – Swiss Franc

CNH – Chinese Yuan Renminbi (Offshore)

EUR – Euro

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GBP – Great British Pound

JPY – Japanese Yen

NOK – Norwegian Krone

SEK – Swedish Krona

USD – United States Dollar

Glossary:

ADR – American Depositary Receipt

BTP – Buoni del Tesoro Poliennali

CBT – Chicago Board of Trade

CME – Chicago Mercantile Exchange

EAFE – Europe, Australia, and Far East

ETS – Emission Trading Scheme

FTSE – Financial Times Stock Exchange

MSCI – Morgan Stanley Capital International

OAT – Obligations Assimilables du Trésor

OMXS – Stockholm Stock Exchange

REG – Registered Shares

REIT – Real Estate Investment Trust

SPI – Share Price Index

TOPIX – Tokyo Price Index

TSX – Toronto Stock Exchange

COUNTRY BREAKDOWN¹

March 31, 2023 (unaudited)

49.8	%	United States
4.6	%	Japan
2.8	%	United Kingdom
2.5	%	France
1.8	%	Germany
1.7	%	Australia
1.5	%	Switzerland
0.9	%	Netherlands
0.7	%	Sweden
0.7	%	Denmark
0.6	%	Spain
0.5	%	Hong Kong
0.4	%	Italy
1.5	%	Other
30.0	%	Short-Term Investments
100.0	%	Total Investments

1 The Portfolio’s country breakdown is expressed as a percentage of total investments (excluding security lending collateral) and may vary over time. The Fund also enters into derivative transactions, which may be used for hedging or investment purposes (see “Portfolio of Investments” section of the report for additional details). “Other” country weightings represent 0.3% or less in the following: Austria, Belgium, Brazil, Chile, China, Finland, Ireland, Israel, Jordan, Luxembourg, Macau, New Zealand, Norway, Portugal, Singapore, South Africa and South Korea.

32

AB Variable Products Series Fund, Inc.

AB Global Risk Allocation-Moderate Portfolio

March 31, 2023 (unaudited)

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Portfolio 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 Portfolio. Unobservable inputs reflect the Portfolio’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 Portfolio’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3. In addition, non-agency rated investments are classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

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.

33

Options are valued using market-based inputs to models, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency, where such inputs and models are available. Alternatively the values may be obtained through unobservable management determined inputs and/or management’s proprietary models. Where models are used, the selection of a particular model to value an option depends upon the contractual terms of, and specific risks inherent in, the option as well as the availability of pricing information in the market. Valuation models require a variety of inputs, including contractual terms, market prices, measures of volatility and correlations of such inputs. Exchange traded options generally will be classified as Level 2. For options that do not trade on exchange but trade in liquid markets, inputs can generally be verified and model selection does not involve significant management judgment. Options are classified within Level 2 on the fair value hierarchy when all of the significant inputs can be corroborated to market evidence. Otherwise such instruments are classified as Level 3.

The following table summarizes the valuation of the Portfolio’s investments by the above fair value hierarchy levels as of March 31, 2023:

Investments in Securities:	Level 1			Level 2			Level 3		Total
Assets:
Common Stocks:
Information Technology	$	96,326,617		$	12,482,612		$	—	$	108,809,229
Financials		47,689,305			28,863,987			—		76,553,292
Health Care		52,738,572			20,778,360			—		73,516,932
Industrials		32,340,435			24,677,728			—		57,018,163
Consumer Discretionary		37,445,965			19,546,629			—		56,992,594
Consumer Staples		26,869,957			16,507,700			—		43,377,657
Communication Services		30,275,966			6,900,094			—		37,176,060
Energy		17,014,615			7,089,858			—		24,104,473
Materials		9,751,661			12,416,831			—		22,168,492
Utilities		10,576,300			5,403,560			—		15,979,860
Real Estate		9,520,055			3,714,162			—		13,234,217
Purchased Options - Puts		—			355,436			—		355,436
Short-Term Investments		226,973,453			—			—		226,973,453
Investments of Cash Collateral for Securities Loaned in Affiliated Money Market Fund		1,618,087			—			—		1,618,087
Total Investments in Securities		599,140,988			158,736,957			—		757,877,945
Other Financial Instruments(a):
Assets:
Futures		7,778,536			—			—		7,778,536
Forward Currency Exchange Contracts		—			904,055			—		904,055
Liabilities:
Futures		(3,305,219	)		—			—		(3,305,219	)
Forward Currency Exchange Contracts		—			(1,740,146	)		—		(1,740,146	)
Put Options Written		—			(126,696	)		—		(126,696	)
Total	$	603,614,305		$	157,774,170		$	—	$	761,388,475

^(a)  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, written options and written swaptions which are valued at market value.

34

A summary of the Portfolio’s transactions in AB mutual funds for the three months ended March 31, 2023 is as follows:

Portfolio	Market Value 12/31/2022 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 03/31/2023 (000)		Dividend Income (000)
Government Money Market Portfolio	$	244,271	$	35,390	$	52,688	$	226,973	$	2,662
Government Money Market Portfolio*		64		4,352		2,798		1,618		9
Total	$	244,335	$	39,742	$	55,486	$	228,591	$	2,671

* Investments of cash collateral for securities lending transactions.

35