Sanford C. Bernstein Fund, Inc.
Schedule of Investments
Tax-Aware Overlay C Portfolio
December 31, 2023 (unaudited)
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| MUNICIPAL OBLIGATIONS – 74.6% |
||||||||||||
| Long-Term Municipal Bonds – 74.6% |
||||||||||||
| American Samoa – 0.1% |
||||||||||||
| American Samoa Economic Development Authority (Territory of American Samoa) |
$ | 235 | $ | 249,463 | ||||||||
|
|
|
|||||||||||
| California – 60.1% |
||||||||||||
| Anaheim Housing & Public Improvements Authority (City of Anaheim CA Electric System Revenue) |
1,150 | 981,268 | ||||||||||
| Bay Area Toll Authority |
2,000 | 1,951,034 | ||||||||||
| 4.28% (MUNIPSA + 0.41%), 04/01/2056(b) |
2,000 | 1,943,672 | ||||||||||
| California Community Choice Financing Authority (American International Group, Inc.) |
1,000 | 1,077,406 | ||||||||||
| California Community Choice Financing Authority (Deutsche Bank AG) |
2,500 | 2,644,554 | ||||||||||
| California Community Choice Financing Authority (Goldman Sachs Group, Inc. (The)) |
1,300 | 1,309,074 | ||||||||||
| Series 2023 5.00%, 12/01/2053 |
2,130 | 2,263,390 | ||||||||||
| California Community Choice Financing Authority (Morgan Stanley) |
1,000 | 1,079,550 | ||||||||||
| 5.215% (SOFR + 1.63%), 07/01/2053(b) |
1,200 | 1,200,002 | ||||||||||
| 5.255% (SOFR + 1.67%), 02/01/2054(b) |
1,000 | 1,000,726 | ||||||||||
| California Community Housing Agency (California Community Housing Agency Brio Apartments & Next on Lex Apartments) |
615 | 493,920 | ||||||||||
| California Community Housing Agency (California Community Housing Agency Summit at Sausalito Apartments) |
595 | 434,734 | ||||||||||
| California Educational Facilities Authority (University of the Pacific) |
2,000 | 2,086,444 | ||||||||||
| California Enterprise Development Authority (Rocketship Education Obligated Group) |
540 | 504,334 | ||||||||||
1
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| California Health Facilities Financing Authority (CommonSpirit Health) |
$ | 1,850 | $ | 1,917,232 | ||||||||
| California Health Facilities Financing Authority (Sutter Health Obligated Group) |
900 | 974,114 | ||||||||||
| California Infrastructure & Economic Development Bank (California Academy of Sciences) |
2,000 | 1,986,852 | ||||||||||
| California Infrastructure & Economic Development Bank (DesertXpress Enterprises LLC) |
4,305 | 4,300,282 | ||||||||||
| 8.00%, 01/01/2050(a) |
370 | 376,786 | ||||||||||
| California Municipal Finance Authority (Anaheim Electric Utility Fund) |
1,000 | 1,041,388 | ||||||||||
| California Municipal Finance Authority (LAX Integrated Express Solutions LLC) |
1,700 | 1,805,224 | ||||||||||
| 5.00%, 06/30/2029 |
1,000 | 1,061,792 | ||||||||||
| California Municipal Finance Authority (United Airlines, Inc.) |
2,140 | 2,103,486 | ||||||||||
| California Pollution Control Financing Authority (San Diego County Water Authority Desalination Project Pipeline) |
450 | 470,114 | ||||||||||
| California Public Finance Authority (California University of Science & Medicine Obligated Group) |
1,000 | 1,054,612 | ||||||||||
| California School Finance Authority (Classical Academy Obligated Group) |
1,000 | 1,028,150 | ||||||||||
| California School Finance Authority (Fenton Charter Public Schools) |
600 | 587,654 | ||||||||||
| California School Finance Authority (Rocketship Education Obligated Group) |
460 | 459,804 | ||||||||||
| California State University |
400 | 350,288 | ||||||||||
| Series 2021-B 2.274%, 11/01/2034 |
2,000 | 1,582,348 | ||||||||||
2
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| California Statewide Communities Development Authority (Lancer Educational Housing LLC) |
$ | 375 | $ | 381,558 | ||||||||
| California Statewide Communities Development Authority (Loma Linda University Medical Center) |
1,000 | 997,916 | ||||||||||
| Series 2018-A 5.00%, 12/01/2028(a) |
500 | 521,606 | ||||||||||
| California Statewide Communities Development Authority (Methodist Hospital of Southern California Obligated Group) |
2,915 | 3,099,112 | ||||||||||
| 5.00%, 01/01/2029 |
2,790 | 2,971,648 | ||||||||||
| California Statewide Communities Development Authority (NCCD-Hooper Street LLC) |
40 | 40,142 | ||||||||||
| 5.00%, 07/01/2029(a) |
215 | 219,814 | ||||||||||
| City of Fremont CA Community Facilities District No. 1 |
1,505 | 1,548,288 | ||||||||||
| City of Los Angeles CA |
1,000 | 1,010,062 | ||||||||||
| City of Los Angeles Department of Airports |
215 | 225,528 | ||||||||||
| Series 2017-A 5.00%, 05/15/2030 |
3,585 | 3,798,928 | ||||||||||
| Series 2018-D 5.00%, 05/15/2026 |
2,890 | 3,007,054 | ||||||||||
| Series 2019 5.00%, 05/15/2031 |
485 | 529,950 | ||||||||||
| City of Roseville CA (Fiddyment Ranch Community Facilities District No. 1) |
1,000 | 1,044,246 | ||||||||||
| City of Roseville CA (HP Campus Oaks Community Facilities District No. 1) |
305 | 315,374 | ||||||||||
3
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| City of San Jose CA Airport Revenue (Norman Y Mineta San Jose International Airport SJC) |
$ | 1,955 | $ | 1,959,584 | ||||||||
| Series 2014-B |
2,360 | 2,368,018 | ||||||||||
| CMFA Special Finance Agency VIII Elan Huntington Beach |
110 | 91,524 | ||||||||||
| Coronado Community Development Agency Successor Agency |
2,040 | 2,117,932 | ||||||||||
| County of Los Angeles CA Community Facilities District No. 2021-01 (County of Los Angeles CA Community Facilities District No. 2021-01 Area No. 1) |
1,800 | 1,897,628 | ||||||||||
| County of San Diego CA (County of San Diego CA COP) |
1,250 | 1,272,006 | ||||||||||
| 5.00%, 10/15/2028 |
1,300 | 1,322,278 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 777 Place-Pomona) |
950 | 713,714 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority 1818 Platinum Triangle-Anaheim) |
500 | 391,388 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Acacia on Santa Rosa Creek) |
1,000 | 762,672 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Altana Apartments) |
700 | 534,566 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments) |
930 | 820,410 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Millennium South Bay-Hawthorne) |
500 | 400,622 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Pasadena Portfolio) |
995 | 751,204 | ||||||||||
4
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Theo Apartments) |
$ | 1,000 | $ | 798,278 | ||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Union South Bay) |
400 | 300,030 | ||||||||||
| CSCDA Community Improvement Authority (CSCDA Community Improvement Authority Vineyard Gardens Apartments) |
1,000 | 713,514 | ||||||||||
| Golden State Tobacco Securitization Corp. (Golden State Tobacco Securitization Corp. Lease) |
1,000 | 949,956 | ||||||||||
| Los Angeles Department of Water & Power System Revenue |
365 | 410,274 | ||||||||||
| 5.00%, 07/01/2029 |
455 | 524,124 | ||||||||||
| Metropolitan Water District of Southern California |
1,000 | 998,542 | ||||||||||
| Middle Fork Project Finance Authority |
450 | 490,094 | ||||||||||
| Newport Mesa Unified School District |
510 | 516,616 | ||||||||||
| Oakland Unified School District/Alameda County |
1,025 | 1,064,474 | ||||||||||
| Regents of the University of California Medical Center Pooled Revenue |
3,000 | 3,492,228 | ||||||||||
| River Islands Public Financing Authority (River Islands Public Financing Authority Community Facilities District
No. 2003-1) |
1,000 | 1,016,954 | ||||||||||
| 5.00%, 09/01/2042 |
1,000 | 1,030,102 | ||||||||||
| Sacramento County Sanitation Districts Financing Authority (Sacramento Regional County Sanitation District) |
2,000 | 2,015,908 | ||||||||||
| Sacramento County Water Financing Authority (Sacramento County Water Agency) |
1,450 | 1,253,936 | ||||||||||
5
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| San Diego County Water Authority |
$ | 500 | $ | 503,766 | ||||||||
| Saugus/Hart School Facilities Financing Authority (Saugus Union School District Community Facilities District No. 06-01) |
750 | 777,058 | ||||||||||
| State of California |
1,000 | 1,094,834 | ||||||||||
| Tobacco Securitization Authority of Southern California |
960 | 1,045,954 | ||||||||||
| University of California |
1,500 | 1,507,892 | ||||||||||
| Walnut Energy Center Authority |
1,000 | 1,009,726 | ||||||||||
| 5.00%, 01/01/2028 |
1,800 | 1,817,328 | ||||||||||
|
|
|
|||||||||||
| 98,516,594 | ||||||||||||
|
|
|
|||||||||||
| Colorado – 0.1% |
| |||||||||||
| Vauxmont Metropolitan District AGM |
100 | 105,620 | ||||||||||
|
|
|
|||||||||||
| Florida – 0.1% |
| |||||||||||
| Capital Trust Agency, Inc. (Franklin Academy Series 2020 Obligated Group) |
100 | 99,358 | ||||||||||
| County of Osceola FL Transportation Revenue |
100 | 71,250 | ||||||||||
|
|
|
|||||||||||
| 170,608 | ||||||||||||
|
|
|
|||||||||||
| Guam – 2.6% |
| |||||||||||
| Antonio B Won Pat International Airport Authority |
200 | 182,262 | ||||||||||
| 3.489%, 10/01/2031 |
120 | 101,390 | ||||||||||
| Guam Power Authority |
1,000 | 1,073,082 | ||||||||||
| Territory of Guam |
75 | 78,188 | ||||||||||
| Territory of Guam (Guam Section 30 Income Tax) |
140 | 145,080 | ||||||||||
| 5.00%, 12/01/2030 |
225 | 232,781 | ||||||||||
| 5.00%, 12/01/2032 |
205 | 212,176 | ||||||||||
6
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| Territory of Guam (Territory of Guam Business Privilege Tax) |
$ | 805 | $ | 820,704 | ||||||||
| Series 2015-D |
350 | 356,554 | ||||||||||
| Territory of Guam (Territory of Guam Hotel Occupancy Tax) |
1,000 | 1,037,946 | ||||||||||
|
|
|
|||||||||||
| 4,240,163 | ||||||||||||
|
|
|
|||||||||||
| Illinois – 2.4% |
| |||||||||||
| Illinois Finance Authority (Illinois Institute of Technology) |
100 | 100,482 | ||||||||||
| 5.00%, 09/01/2033 |
100 | 99,614 | ||||||||||
| Metropolitan Pier & Exposition Authority |
1,400 | 1,494,688 | ||||||||||
| State of Illinois |
2,165 | 2,174,220 | ||||||||||
|
|
|
|||||||||||
| 3,869,004 | ||||||||||||
|
|
|
|||||||||||
| Kentucky – 0.1% |
| |||||||||||
| City of Ashland KY (Royal Blue Health LLC Obligated Group) |
140 | 146,274 | ||||||||||
| 5.00%, 02/01/2031 |
100 | 107,092 | ||||||||||
|
|
|
|||||||||||
| 253,366 | ||||||||||||
|
|
|
|||||||||||
| Michigan – 3.7% |
| |||||||||||
| City of Detroit MI |
1,000 | 1,054,998 | ||||||||||
| 5.00%, 04/01/2030 |
600 | 632,842 | ||||||||||
| Michigan Finance Authority (Public Lighting Authority) |
2,175 | 2,182,360 | ||||||||||
| Michigan Strategic Fund (Michigan Strategic Fund - I 75 Improvement Project) |
2,000 | 2,127,950 | ||||||||||
|
|
|
|||||||||||
| 5,998,150 | ||||||||||||
|
|
|
|||||||||||
| Missouri – 0.1% |
| |||||||||||
| Howard Bend Levee District XLCA |
100 | 102,349 | ||||||||||
|
|
|
|||||||||||
| Nevada – 0.2% |
| |||||||||||
| City of Sparks NV (City of Sparks NV Sales Tax) |
330 | 313,462 | ||||||||||
|
|
|
|||||||||||
7
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| Ohio – 0.3% |
||||||||||||
| Ohio Air Quality Development Authority (Pratt Paper OH LLC) |
$ | 530 | $ | 524,909 | ||||||||
|
|
|
|||||||||||
| Puerto Rico – 1.9% |
||||||||||||
| Commonwealth of Puerto Rico |
94 | 91,668 | ||||||||||
| Zero Coupon, 07/01/2033 |
555 | 345,996 | ||||||||||
| 5.625%, 07/01/2027 |
750 | 793,138 | ||||||||||
| HTA TRRB Custodial Trust |
190 | 185,498 | ||||||||||
| Puerto Rico Commonwealth Aqueduct & Sewer Authority |
600 | 609,304 | ||||||||||
| 5.00%, 07/01/2035(a) |
250 | 252,344 | ||||||||||
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority (AES Puerto Rico LP) |
995 | 696,500 | ||||||||||
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue |
176 | 172,542 | ||||||||||
|
|
|
|||||||||||
| 3,146,990 | ||||||||||||
|
|
|
|||||||||||
| Texas – 1.7% |
||||||||||||
| Mission Economic Development Corp. (Natgasoline LLC) |
1,010 | 996,044 | ||||||||||
| Texas Municipal Gas Acquisition and Supply Corp. I (Bank of America Corp.) |
1,675 | 1,752,908 | ||||||||||
|
|
|
|||||||||||
| 2,748,952 | ||||||||||||
|
|
|
|||||||||||
| Washington – 0.6% |
||||||||||||
| Kalispel Tribe of Indians |
990 | 1,022,513 | ||||||||||
|
|
|
|||||||||||
| Wisconsin – 0.6% |
||||||||||||
| Wisconsin Public Finance Authority (UMA Education, Inc.) |
225 | 227,190 | ||||||||||
| 5.00%, 10/01/2026(a) |
235 | 239,139 | ||||||||||
| 5.00%, 10/01/2027(a) |
245 | 251,028 | ||||||||||
8
| Principal Amount (000) |
U.S. $ Value | |||||||||||
| 5.00%, 10/01/2028(a) |
$ | 135 | $ | 139,008 | ||||||||
| 5.00%, 10/01/2029(a) |
100 | 103,164 | ||||||||||
|
|
|
|||||||||||
| 959,529 | ||||||||||||
|
|
|
|||||||||||
| Total Municipal Obligations |
122,221,672 | |||||||||||
|
|
|
|||||||||||
| Shares | ||||||||||||
| INVESTMENT COMPANIES – 14.0% |
||||||||||||
| Funds and Investment Trusts – 14.0%(e) |
||||||||||||
| iShares Core MSCI Emerging Markets ETF |
127,830 | 6,465,642 | ||||||||||
| SPDR S&P 500 ETF Trust |
34,569 | 16,430,991 | ||||||||||
|
|
|
|||||||||||
| Total Investment Companies |
22,896,633 | |||||||||||
|
|
|
|||||||||||
| Principal Amount (000) |
||||||||||||
| COMMERCIAL MORTGAGE-BACKED SECURITIES – 4.6% |
||||||||||||
| Agency CMBS – 0.6% |
||||||||||||
| Federal Home Loan Mortgage Corp. |
$ | 1,239 | 961,766 | |||||||||
|
|
|
|||||||||||
| Non-Agency Fixed Rate CMBS – 4.0% |
||||||||||||
| California Housing Finance Agency |
2,080 | 2,115,082 | ||||||||||
| Series 2021-1, Class A |
2,541 | 2,473,878 | ||||||||||
| Series 2021-2, Class A |
1,943 | 1,919,988 | ||||||||||
| Series 2021-2, Class X |
972 | 48,236 | ||||||||||
|
|
|
|||||||||||
| 6,557,184 | ||||||||||||
|
|
|
|||||||||||
| Total Commercial Mortgage-Backed Securities |
7,518,950 | |||||||||||
|
|
|
|||||||||||
| GOVERNMENTS - TREASURIES – 1.5% |
||||||||||||
| United States – 1.5% |
||||||||||||
| U.S. Treasury Notes |
2,670 | 2,516,892 | ||||||||||
|
|
|
|||||||||||
9
| Notional Amount |
U.S. $ Value | |||||||||||
| PURCHASED OPTIONS - PUTS – 0.5% |
||||||||||||
| Options on Equity Indices – 0.5% |
||||||||||||
| Euro STOXX 50 Index |
EUR | 4,307,000 | $ | 80,020 | ||||||||
| FTSE 100 Index |
GBP | 1,650,000 | 31,433 | |||||||||
| Nikkei 225 Index |
JPY | 459,000,000 | 69,629 | |||||||||
| S&P 500 Index |
USD | 36,340,000 | 662,916 | |||||||||
|
|
|
|||||||||||
| Total Purchased Options - Puts |
843,998 | |||||||||||
|
|
|
|||||||||||
| Principal Amount (000) |
||||||||||||
| COLLATERALIZED MORTGAGE OBLIGATIONS – 0.0% |
||||||||||||
| Risk Share Floating Rate – 0.0% |
||||||||||||
| Federal National Mortgage Association Connecticut Avenue Securities |
$ | 20 | 20,552 | |||||||||
| Series 2015-C02, Class 1M2 |
27 | 27,418 | ||||||||||
|
|
|
|||||||||||
| Total Collateralized Mortgage Obligations |
47,970 | |||||||||||
|
|
|
|||||||||||
| Shares | ||||||||||||
| SHORT-TERM INVESTMENTS – 1.7% |
||||||||||||
| Investment Companies – 1.7% |
||||||||||||
| AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 5.27%(e) (i) (j) |
2,726,555 | 2,726,555 | ||||||||||
|
|
|
|||||||||||
| Total Investments – 96.9% |
158,772,670 | |||||||||||
| Other assets less liabilities – 3.1% |
5,136,338 | |||||||||||
|
|
|
|||||||||||
| Net Assets – 100.0% |
$ | 163,909,008 | ||||||||||
|
|
|
|||||||||||
10
FUTURES
| Description | Number of Contracts |
Expiration Month |
Current Notional |
Value and Unrealized Appreciation (Depreciation) | ||||||||||||||||
| Purchased Contracts | ||||||||||||||||||||
| Euro STOXX 50 Index Futures | 191 | March 2024 | $ | 9,579,119 | $ | (100,855 | ) | |||||||||||||
| FTSE 100 Index Futures | 4 | March 2024 | 395,473 | 7,974 | ||||||||||||||||
| Hang Seng Index Futures | 3 | January 2024 | 329,103 | 8,754 | ||||||||||||||||
| MSCI Singapore IX ETS Futures | 10 | January 2024 | 217,996 | 7,678 | ||||||||||||||||
| Nikkei 225 (OSE) Futures | 2 | March 2024 | 474,468 | 3,251 | ||||||||||||||||
| OMXS 30 Index Futures | 21 | January 2024 | 499,960 | 10,647 | ||||||||||||||||
| Russell 2000 E-Mini Futures | 29 | March 2024 | 2,969,165 | 217,149 | ||||||||||||||||
| S&P 500 E-Mini Futures | 104 | March 2024 | 25,064,000 | 709,347 | ||||||||||||||||
| S&P Mid 400 E-Mini Futures | 8 | March 2024 | 2,247,600 | 115,332 | ||||||||||||||||
| TOPIX Index Futures | 31 | March 2024 | 5,201,844 | 25,252 | ||||||||||||||||
| U.S. T-Note 2 Yr (CBT) Futures | 33 | March 2024 | 6,795,164 | 69,607 | ||||||||||||||||
| U.S. T-Note 10 Yr (CBT) Futures | 85 | March 2024 | 9,595,703 | 334,140 | ||||||||||||||||
| U.S. Ultra Bond (CBT) Futures | 23 | March 2024 | 3,072,656 | 259,254 | ||||||||||||||||
| Sold Contracts | ||||||||||||||||||||
| FTSE 100 Index Futures | 5 | March 2024 | 494,341 | (10,976 | ) | |||||||||||||||
| S&P/TSX 60 Index Futures | 5 | March 2024 | 958,756 | (8,070 | ) | |||||||||||||||
| SPI 200 Futures | 12 | March 2024 | 1,550,640 | (19,066 | ) | |||||||||||||||
|
|
|
|||||||||||||||||||
| $ | 1,629,418 | |||||||||||||||||||
|
|
|
|||||||||||||||||||
FORWARD CURRENCY EXCHANGE CONTRACTS
| Counterparty | Contracts to Deliver (000) |
In Exchange For (000) |
Settlement Date |
Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
| Bank of America, NA | USD | $ | 2,529 | EUR | 2,378 | 01/10/2024 | $ | 97,023 | ||||||||||||||||||||||
| Bank of America, NA | JPY | 127,791 | USD | 895 | 01/12/2024 | (12,178 | ) | |||||||||||||||||||||||
| Bank of America, NA | GBP | 1,312 | USD | 1,644 | 01/25/2024 | (28,370 | ) | |||||||||||||||||||||||
| Bank of America, NA | NOK | 18,272 | USD | 1,744 | 02/16/2024 | (56,240 | ) | |||||||||||||||||||||||
| Bank of America, NA | USD | 1,879 | NOK | 20,379 | 02/16/2024 | 128,559 | ||||||||||||||||||||||||
| Barclays Bank PLC | NZD | 1,746 | USD | 1,073 | 01/11/2024 | (31,075 | ) | |||||||||||||||||||||||
| BNP Paribas SA | USD | 1,858 | CAD | 2,517 | 01/10/2024 | 42,495 | ||||||||||||||||||||||||
| BNP Paribas SA | USD | 806 | EUR | 731 | 01/10/2024 | 1,892 | ||||||||||||||||||||||||
| BNP Paribas SA | USD | 1,101 | NZD | 1,890 | 01/11/2024 | 93,683 | ||||||||||||||||||||||||
| Deutsche Bank AG | USD | 2,379 | EUR | 2,182 | 01/10/2024 | 30,156 | ||||||||||||||||||||||||
| Deutsche Bank AG | JPY | 188,630 | USD | 1,274 | 01/12/2024 | (65,055 | ) | |||||||||||||||||||||||
| Deutsche Bank AG | CHF | 1,934 | USD | 2,184 | 01/18/2024 | (119,276 | ) | |||||||||||||||||||||||
| Goldman Sachs Bank USA | EUR | 753 | USD | 807 | 01/10/2024 | (23,873 | ) | |||||||||||||||||||||||
| Goldman Sachs Bank USA | USD | 1,765 | CAD | 2,420 | 01/10/2024 | 61,431 | ||||||||||||||||||||||||
| Goldman Sachs Bank USA | USD | 613 | JPY | 90,063 | 01/12/2024 | 26,099 | ||||||||||||||||||||||||
| Goldman Sachs Bank USA | USD | 3,337 | GBP | 2,638 | 01/25/2024 | 26,401 | ||||||||||||||||||||||||
| HSBC Bank USA | USD | 792 | EUR | 721 | 01/10/2024 | 4,646 | ||||||||||||||||||||||||
| JPMorgan Chase Bank, NA | EUR | 1,170 | USD | 1,254 | 01/10/2024 | (38,727 | ) | |||||||||||||||||||||||
| JPMorgan Chase Bank, NA | JPY | 76,702 | USD | 542 | 01/12/2024 | (2,928 | ) | |||||||||||||||||||||||
| Morgan Stanley & Co., LLC. | CAD | 4,550 | USD | 3,379 | 01/10/2024 | (55,663 | ) | |||||||||||||||||||||||
| Morgan Stanley & Co., LLC. | USD | 2,615 | AUD | 4,014 | 01/25/2024 | 122,108 | ||||||||||||||||||||||||
| Morgan Stanley & Co., LLC. | USD | 1,375 | GBP | 1,107 | 01/25/2024 | 36,037 | ||||||||||||||||||||||||
| Morgan Stanley & Co., LLC. | CHF | 1,061 | USD | 1,228 | 02/15/2024 | (39,062 | ) | |||||||||||||||||||||||
| State Street Bank & Trust Co. | CAD | 526 | USD | 384 | 01/10/2024 | (12,315 | ) | |||||||||||||||||||||||
| State Street Bank & Trust Co. | EUR | 99 | USD | 109 | 01/10/2024 | (501 | ) | |||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 207 | CAD | 280 | 01/10/2024 | 3,820 | ||||||||||||||||||||||||
11
| Counterparty | Contracts to Deliver (000) |
In Exchange For (000) |
Settlement Date |
Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 489 | EUR | 461 | 01/10/2024 | $ | 19,929 | |||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 690 | NZD | 1,132 | 01/11/2024 | 25,928 | ||||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 4,660 | JPY | 688,575 | 01/12/2024 | 229,279 | ||||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 127 | CHF | 111 | 01/18/2024 | 4,828 | ||||||||||||||||||||||||
| State Street Bank & Trust Co. | AUD | 432 | USD | 285 | 01/25/2024 | (9,294 | ) | |||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 393 | AUD | 596 | 01/25/2024 | 13,646 | ||||||||||||||||||||||||
| State Street Bank & Trust Co. | USD | 763 | GBP | 608 | 01/25/2024 | 11,755 | ||||||||||||||||||||||||
| State Street Bank & Trust Co. | SEK | 7,214 | USD | 701 | 02/16/2024 | (15,484 | ) | |||||||||||||||||||||||
| UBS AG | CAD | 1,894 | USD | 1,376 | 01/10/2024 | (53,775 | ) | |||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||
| $ | 415,899 | |||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||
CENTRALLY CLEARED CREDIT DEFAULT SWAPS
| Description | Fixed Rate (Pay) Receive |
Payment Frequency |
Implied Credit Spread at December 31, 2023 |
Notional Amount (000) |
Market Value |
Upfront (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||||||
| Buy Contracts | ||||||||||||||||||||||||||||||||
| CDX-NAHY Series 41, 5 Year Index, 12/20/2028* |
(5.00 | )% | Quarterly | 3.56% | USD | 3,762 | $ | (224,816 | ) | $ | (34,319 | ) | $ | (190,497 | ) | |||||||||||||||||
| * | Termination date |
CENTRALLY CLEARED INFLATION (CPI) SWAPS
| Rate Type | ||||||||||||||||||||||||
| Notional |
Termination Date |
Payments made by the Fund |
Payments received by the Fund |
Payment Frequency Paid/ Received |
Market Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||
| USD | 3,700 | 01/15/2028 | 1.230% | CPI# | Maturity | $ | 651,803 | $ | — | $ | 651,803 | |||||||||||||
| USD | 1,575 | 01/15/2030 | 1.572% | CPI# | Maturity | 262,112 | — | 262,112 | ||||||||||||||||
| USD | 1,575 | 01/15/2030 | 1.587% | CPI# | Maturity | 259,906 | — | 259,906 | ||||||||||||||||
| USD | 240 | 01/15/2030 | 1.714% | CPI# | Maturity | 36,741 | — | 36,741 | ||||||||||||||||
| USD | 240 | 01/15/2030 | 1.731% | CPI# | Maturity | 36,355 | — | 36,355 | ||||||||||||||||
| USD | 1,300 | 01/15/2031 | 2.782% | CPI# | Maturity | 77,539 | — | 77,539 | ||||||||||||||||
| USD | 1,180 | 01/15/2031 | 2.680% | CPI# | Maturity | 82,413 | — | 82,413 | ||||||||||||||||
| USD | 1,030 | 01/15/2031 | 2.989% | CPI# | Maturity | 39,884 | — | 39,884 | ||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
| $ | 1,446,753 | $ | — | $ | 1,446,753 | |||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
| # | Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI). |
12
CENTRALLY CLEARED INTEREST RATE SWAPS
| Rate Type | ||||||||||||||||||||||||
| Notional |
Termination Date |
Payments made by the Fund |
Payments received by the Fund |
Payment Frequency Paid/ Received |
Market Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||
| USD | 1,600 | 04/20/2028 | 1 Day SOFR | 3.478% | Annual | $ | (25,911 | ) | $ | — | $ | (25,911 | ) | |||||||||||
| USD | 5,900 | 04/30/2030 | 1 Day SOFR | 3.075% | Annual | (220,720 | ) | — | (220,720 | ) | ||||||||||||||
| USD | 1,400 | 04/30/2030 | 1 Day SOFR | 3.411% | Annual | (21,681 | ) | — | (21,681 | ) | ||||||||||||||
| USD | 1,010 | 04/30/2030 | 1 Day SOFR | 3.500% | Annual | (9,592 | ) | — | (9,592 | ) | ||||||||||||||
| USD | 3,400 | 07/31/2030 | 1 Day SOFR | 4.616% | Annual | 219,391 | — | 219,391 | ||||||||||||||||
| USD | 2,600 | 07/31/2030 | 1 Day SOFR | 3.806% | Annual | 31,385 | — | 31,385 | ||||||||||||||||
| USD | 2,100 | 07/31/2030 | 1 Day SOFR | 3.897% | Annual | 40,311 | — | 40,311 | ||||||||||||||||
| USD | 1,600 | 07/31/2030 | 1 Day SOFR | 4.016% | Annual | 41,306 | — | 41,306 | ||||||||||||||||
| USD | 2,600 | 11/01/2030 | 1 Day SOFR | 4.518% | Annual | 158,946 | — | 158,946 | ||||||||||||||||
| USD | 14,000 | 03/31/2033 | 3.120% | 1 Day SOFR | Annual | 597,974 | — | 597,974 | ||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
| $ | 811,409 | $ | — | $ | 811,409 | |||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||
CREDIT DEFAULT SWAPS
| Swap Counterparty & Referenced Obligation |
Fixed Rate (Pay) Receive |
Payment Frequency |
Implied Credit Spread at December 31, 2023 |
Notional Amount (000) |
Market Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||||||||
| Sale Contracts | ||||||||||||||||||||||||||||||||
| Citigroup Global Markets, Inc. | ||||||||||||||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | % | Monthly | 7.50% | USD | 17 | $ | (2,224 | ) | $ | (1,554 | ) | $ | (670 | ) | |||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 57 | (7,391 | ) | (6,664 | ) | (727 | ) | |||||||||||||||||||||
| Credit Suisse International | ||||||||||||||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 4 | (480 | ) | (420 | ) | (60 | ) | |||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 9 | (1,202 | ) | (848 | ) | (354 | ) | |||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 47 | (6,130 | ) | (4,211 | ) | (1,919 | ) | |||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 116 | (15,084 | ) | (13,102 | ) | (1,982 | ) | |||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 118 | (15,324 | ) | (10,821 | ) | (4,503 | ) | |||||||||||||||||||||
| Goldman Sachs International | ||||||||||||||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | Monthly | 7.50 | USD | 22 | (2,885 | ) | (2,590 | ) | (295 | ) | |||||||||||||||||||||
| CDX-CMBX.NA.BBB- Series 6, 05/11/2063* |
3.00 | % | Monthly | 7.50 | USD | 61 | (7,872 | ) | (5,253 | ) | (2,619 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | (58,592 | ) | $ | (45,463 | ) | $ | (13,129 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| * | Termination date |
13
INFLATION (CPI) SWAPS
| Rate Type | ||||||||||||||||||||||||||||
| Swap Counterparty | Notional Amount (000) |
Termination Date |
Payments made by the Fund |
Payments received by the Fund |
Payment Frequency Paid/ Received |
Market Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||
| Barclays Bank PLC | USD | 5,000 | 10/23/2026 | 2.310% | CPI# | Maturity | $ | 265,036 | $ | — | $ | 265,036 | ||||||||||||||||
| Barclays Bank PLC | USD | 5,000 | 12/04/2027 | 2.170% | CPI# | Maturity | 530,700 | — | 530,700 | |||||||||||||||||||
| Barclays Bank PLC | USD | 1,000 | 10/23/2029 | 2.388% | CPI# | Maturity | 46,114 | — | 46,114 | |||||||||||||||||||
| Citibank, NA | USD | 3,000 | 07/20/2027 | 2.104% | CPI# | Maturity | 345,368 | — | 345,368 | |||||||||||||||||||
| Deutsche Bank AG | USD | 4,000 | 09/04/2025 | 1.818% | CPI# | Maturity | 521,086 | — | 521,086 | |||||||||||||||||||
| JPMorgan Chase Bank, NA | USD | 3,000 | 03/02/2024 | 2.175% | CPI# | Maturity | 319,170 | — | 319,170 | |||||||||||||||||||
| JPMorgan Chase Bank, NA | USD | 2,500 | 07/20/2024 | 1.995% | CPI# | Maturity | 291,665 | — | 291,665 | |||||||||||||||||||
| JPMorgan Chase Bank, NA | USD | 4,000 | 11/04/2026 | 2.015% | CPI# | Maturity | 494,233 | — | 494,233 | |||||||||||||||||||
| JPMorgan Chase Bank, NA | USD | 7,000 | 12/27/2028 | 2.009% | CPI# | Maturity | 845,819 | — | 845,819 | |||||||||||||||||||
| JPMorgan Chase Bank, NA | USD | 1,800 | 01/15/2030 | 3.493% | CPI# | Maturity | (5,921 | ) | — | (5,921 | ) | |||||||||||||||||
| Morgan Stanley Capital Services LLC | USD | 5,000 | 07/20/2032 | 2.158% | CPI# | Maturity | 614,163 | — | 614,163 | |||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||
| $ | 4,267,433 | $ | — | $ | 4,267,433 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|||||||||||||||||||||||
| # | Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI). |
INTEREST RATE SWAPS
| Rate Type | ||||||||||||||||||||||||||||
| Swap Counterparty | Notional Amount (000) |
Termination Date |
Payments made by the Fund |
Payments received by the Fund |
Payment Frequency Paid/ Received |
Market Value |
Upfront Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) |
||||||||||||||||||||
| Citibank, NA | USD | 3,815 | 10/09/2029 | 1.125% | SIFMA* | Quarterly | $ | 326,549 | $ | — | $ | 326,549 | ||||||||||||||||
| * | Variable interest rate based on the Securities Industry & Financial Markets Association (SIFMA) Municipal Swap Index. |
14
TOTAL RETURN SWAPS
| Counterparty & Referenced Obligation |
Rate Paid/ Received |
Payment Frequency |
Current Notional (000) |
Maturity Date |
Unrealized Appreciation (Depreciation) |
|||||||||||||||||||
| Receive Total Return on Reference Obligation | ||||||||||||||||||||||||
| Morgan Stanley Capital Services LLC | ||||||||||||||||||||||||
| Swiss Market Index Futures |
0.00 | % | Maturity | CHF | 1,108 | 03/15/2024 | $ | (871 | ) | |||||||||||||||
| Swiss Market Index Futures |
0.00 | % | Maturity | CHF | 111 | 03/15/2024 | (1,927 | ) | ||||||||||||||||
|
|
|
|||||||||||||||||||||||
| $ | (2,798 | ) | ||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||
| (a) | 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 December 31, 2023, the aggregate market value of these securities amounted to $23,176,274 or 14.1% of net assets. |
| (b) | Floating Rate Security. Stated interest/floor/ceiling rate was in effect at December 31, 2023. |
| (c) | Defaulted. |
| (d) | Non-income producing security. |
| (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) | IO - Interest Only. |
| (g) | Position, or a portion thereof, has been segregated to collateralize OTC derivatives outstanding. |
| (h) | Position, or a portion thereof, has been segregated to collateralize margin requirements for open futures contracts. |
| (i) | Affiliated investments. |
| (j) | The rate shown represents the 7-day yield as of period end. |
| (k) | As of December 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $19,851,129 and gross unrealized depreciation of investments was $(7,480,481), resulting in net unrealized appreciation of $12,370,648. |
As of December 31, 2023, the Portfolio’s percentages of investments in municipal bonds that are insured and in insured municipal bonds that have been pre-refunded or escrowed to maturity are 1.2% and 0.0%, respectively.
Currency Abbreviations:
AUD – Australian Dollar
CAD – Canadian Dollar
CHF – Swiss Franc
EUR – Euro
GBP – Great British Pound
JPY – Japanese Yen
NOK – Norwegian Krone
NZD – New Zealand Dollar
SEK – Swedish Krona
USD – United States Dollar
15
Glossary:
AGM – Assured Guaranty Municipal
CBT – Chicago Board of Trade
CDX-CMBX.NA – North American Commercial Mortgage-Backed Index
CDX-NAHY – North American High Yield Credit Default Swap Index
CMBS – Commercial Mortgage-Backed Securities
COP – Certificate of Participation
ETF – Exchange Traded Fund
ETM – Escrowed to Maturity
ETS – Emission Trading Scheme
FTSE – Financial Times Stock Exchange
LIBOR – London Interbank Offered Rate
MSCI – Morgan Stanley Capital International
MUNIPSA – SIFMA Municipal Swap Index
NATL – National Interstate Corporation
OMXS – Stockholm Stock Exchange
OSE – Osaka Securities Exchange
SOFR – Secured Overnight Financing Rate
SPDR – Standard & Poor’s Depository Receipt
SPI – Share Price Index
TOPIX – Tokyo Price Index
TSX – Toronto Stock Exchange
XLCA – XL Capital Assurance Inc.
16
Sanford C. Bernstein Fund, Inc.
Tax-Aware Overlay C Portfolio
December 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.
17
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 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.
Valuations of mortgage-backed or other asset backed securities, by pricing vendors, are based on both proprietary and industry recognized models and discounted cash flow techniques. Significant inputs to the valuation of these instruments are value of the collateral, the rates and timing of delinquencies, the rates and timing of prepayments, and default and loss expectations, which are driven in part by housing prices for residential mortgages. Significant inputs are determined based on relative value analyses, which incorporate comparisons to instruments with similar collateral and risk profiles, including relevant indices. Mortgage and asset backed securities for which management has collected current observable data through pricing services are generally categorized within Level 2. Those investments for which current observable data has not been provided 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 December 31, 2023:
| Investments in Securities: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Assets: |
| |||||||||||||||
| Long-Term Municipal Bonds | $ | — | $ | 122,221,672 | $ | — | $ | 122,221,672 | ||||||||
| Investment Companies | 22,896,633 | — | — | 22,896,633 | ||||||||||||
| Commercial Mortgage-Backed Securities | — | 7,518,950 | — | 7,518,950 | ||||||||||||
| Governments - Treasuries | — | 2,516,892 | — | 2,516,892 | ||||||||||||
| Purchased Options - Puts | — | 843,998 | — | 843,998 | ||||||||||||
| Collateralized Mortgage Obligations | — | 47,970 | — | 47,970 | ||||||||||||
| Short-Term Investments | 2,726,555 | — | — | 2,726,555 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total Investments in Securities | 25,623,188 | 133,149,482 | — | 158,772,670 | ||||||||||||
| Other Financial Instruments(a): | ||||||||||||||||
| Assets: | ||||||||||||||||
| Futures | 1,768,385 | — | — | 1,768,385 | ||||||||||||
| Forward Currency Exchange Contracts | — | 979,715 | — | 979,715 | ||||||||||||
| Centrally Cleared Inflation (CPI) Swaps | — | 1,446,753 | — | 1,446,753 | ||||||||||||
| Centrally Cleared Interest Rate Swaps | — | 1,089,313 | — | 1,089,313 | ||||||||||||
| Inflation (CPI) Swaps | — | 4,273,354 | — | 4,273,354 | ||||||||||||
| Interest Rate Swaps | — | 326,549 | — | 326,549 | ||||||||||||
18
| Investments in Securities: |
Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Liabilities: | ||||||||||||||||
| Futures | $ | (138,967 | ) | $ | — | $ | — | $ | (138,967 | ) | ||||||
| Forward Currency Exchange Contracts | — | (563,816 | ) | — | (563,816 | ) | ||||||||||
| Centrally Cleared Credit Default Swaps | — | (224,816 | ) | — | (224,816 | ) | ||||||||||
| Centrally Cleared Interest Rate Swaps | — | (277,904 | ) | — | (277,904 | ) | ||||||||||
| Credit Default Swaps | — | (58,592 | ) | — | (58,592 | ) | ||||||||||
| Inflation (CPI) Swaps | — | (5,921 | ) | — | (5,921 | ) | ||||||||||
| Total Return Swaps | — | (2,798 | ) | — | (2,798 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| Total | $ | 27,252,606 | $ | 140,131,319 | $ | — | $ | 167,383,925 | ||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| (a) | Other financial instruments include reverse repurchase agreements and derivative instruments, such as futures, forwards and swaps. Derivative instruments 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. |
A summary of the Portfolio’s transactions in AB mutual funds for three months ended December 31, 2023 is as follows:
| Fund | Market Value 09/30/2023 (000) |
Purchases at Cost (000) |
Sales Proceeds (000) |
Market Value 12/31/2023 (000) |
Dividend (000) |
|||||||||||||||
| Government Money Market Portfolio | $ | 11,322 | $ | 8,395 | $ | 16,990 | $ | 2,727 | $ | 39 | ||||||||||
19