UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-06554

AB GLOBAL BOND FUND, INC.

(Exact name of registrant as specified in charter)

66 Hudson Boulevard East

New York, New York 10005

(Address of principal executive offices) (Zip code)

Stephen M. Woetzel

AllianceBernstein L.P.

66 Hudson Boulevard East

New York, New York 10005

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: September 30, 2026

Date of reporting period: March 31, 2026

ITEM 1. REPORTS TO STOCKHOLDERS.

Class A:ANAGX

March 31, 2026

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/ANAGX-S

SCAN ME

Please scan QR code for Fund Information

AB Global Bond Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Global Bond Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.abfunds.com/link/AB/ANAGX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Table Summary
Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$38	0.77%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Table Summary
Net Assets	$6,700,116,964
# of Portfolio Holdings	1,719
Portfolio Turnover Rate	134%
Total Advisory Fees Paid (Net)	$14,961,332

Class A:ANAGX

Graphical Representation of Holdings

Security Type Breakdown (% of Net Assets)

Table Summary
Governments - Treasuries	44.7%
Corporates - Investment Grade	25.5%
Mortgage Pass-Throughs	13.8%
Collateralized Mortgage Obligations	4.0%
Collateralized Loan Obligations	3.5%
Commercial Mortgage-Backed Securities	3.2%
Asset-Backed Securities	2.7%
Covered Bonds	2.4%
Corporates - Non-Investment Grade	1.9%
Emerging Markets - Treasuries	1.5%
Governments - Sovereign Bonds	1.4%
Governments - Sovereign Agencies	1.1%
Others	4.0%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Country Breakdown (% of Net Assets)

Table Summary
United States	49.0%
United Kingdom	12.5%
Canada	8.8%
Japan	7.5%
France	5.3%
Italy	3.5%
Germany	3.3%
China	2.3%
Australia	1.7%
South Africa	1.3%
Brazil	1.2%
Indonesia	1.1%
Mexico	1.0%
Others	11.2%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/ANAGX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

GB-A-0154-0326

Class A:ANAGX

Advisor Class:ANAYX

March 31, 2026

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/ANAYX-S

SCAN ME

Please scan QR code for Fund Information

AB Global Bond Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Global Bond Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.abfunds.com/link/AB/ANAYX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Table Summary
Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Advisor Class	$26	0.52%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Table Summary
Net Assets	$6,700,116,964
# of Portfolio Holdings	1,719
Portfolio Turnover Rate	134%
Total Advisory Fees Paid (Net)	$14,961,332

Advisor Class:ANAYX

Graphical Representation of Holdings

Security Type Breakdown (% of Net Assets)

Table Summary
Governments - Treasuries	44.7%
Corporates - Investment Grade	25.5%
Mortgage Pass-Throughs	13.8%
Collateralized Mortgage Obligations	4.0%
Collateralized Loan Obligations	3.5%
Commercial Mortgage-Backed Securities	3.2%
Asset-Backed Securities	2.7%
Covered Bonds	2.4%
Corporates - Non-Investment Grade	1.9%
Emerging Markets - Treasuries	1.5%
Governments - Sovereign Bonds	1.4%
Governments - Sovereign Agencies	1.1%
Others	4.0%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Country Breakdown (% of Net Assets)

Table Summary
United States	49.0%
United Kingdom	12.5%
Canada	8.8%
Japan	7.5%
France	5.3%
Italy	3.5%
Germany	3.3%
China	2.3%
Australia	1.7%
South Africa	1.3%
Brazil	1.2%
Indonesia	1.1%
Mexico	1.0%
Others	11.2%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/ANAYX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

GB-ADV-0154-0326

Advisor Class:ANAYX

Class C:ANACX

March 31, 2026

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/ANACX-S

SCAN ME

Please scan QR code for Fund Information

AB Global Bond Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Global Bond Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.abfunds.com/link/AB/ANACX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Table Summary
Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$76	1.52%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Table Summary
Net Assets	$6,700,116,964
# of Portfolio Holdings	1,719
Portfolio Turnover Rate	134%
Total Advisory Fees Paid (Net)	$14,961,332

Class C:ANACX

Graphical Representation of Holdings

Security Type Breakdown (% of Net Assets)

Table Summary
Governments - Treasuries	44.7%
Corporates - Investment Grade	25.5%
Mortgage Pass-Throughs	13.8%
Collateralized Mortgage Obligations	4.0%
Collateralized Loan Obligations	3.5%
Commercial Mortgage-Backed Securities	3.2%
Asset-Backed Securities	2.7%
Covered Bonds	2.4%
Corporates - Non-Investment Grade	1.9%
Emerging Markets - Treasuries	1.5%
Governments - Sovereign Bonds	1.4%
Governments - Sovereign Agencies	1.1%
Others	4.0%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Country Breakdown (% of Net Assets)

Table Summary
United States	49.0%
United Kingdom	12.5%
Canada	8.8%
Japan	7.5%
France	5.3%
Italy	3.5%
Germany	3.3%
China	2.3%
Australia	1.7%
South Africa	1.3%
Brazil	1.2%
Indonesia	1.1%
Mexico	1.0%
Others	11.2%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/ANACX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

GB-C-0154-0326

Class C:ANACX

Class I:ANAIX

March 31, 2026

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/ANAIX-S

SCAN ME

Please scan QR code for Fund Information

AB Global Bond Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Global Bond Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.abfunds.com/link/AB/ANAIX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Table Summary
Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$27	0.54%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Table Summary
Net Assets	$6,700,116,964
# of Portfolio Holdings	1,719
Portfolio Turnover Rate	134%
Total Advisory Fees Paid (Net)	$14,961,332

Class I:ANAIX

Graphical Representation of Holdings

Security Type Breakdown (% of Net Assets)

Table Summary
Governments - Treasuries	44.7%
Corporates - Investment Grade	25.5%
Mortgage Pass-Throughs	13.8%
Collateralized Mortgage Obligations	4.0%
Collateralized Loan Obligations	3.5%
Commercial Mortgage-Backed Securities	3.2%
Asset-Backed Securities	2.7%
Covered Bonds	2.4%
Corporates - Non-Investment Grade	1.9%
Emerging Markets - Treasuries	1.5%
Governments - Sovereign Bonds	1.4%
Governments - Sovereign Agencies	1.1%
Others	4.0%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Country Breakdown (% of Net Assets)

Table Summary
United States	49.0%
United Kingdom	12.5%
Canada	8.8%
Japan	7.5%
France	5.3%
Italy	3.5%
Germany	3.3%
China	2.3%
Australia	1.7%
South Africa	1.3%
Brazil	1.2%
Indonesia	1.1%
Mexico	1.0%
Others	11.2%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/ANAIX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

GB-I-0154-0326

Class I:ANAIX

Class Z:ANAZX

March 31, 2026

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/ANAZX-S

SCAN ME

Please scan QR code for Fund Information

AB Global Bond Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Global Bond Fund (the “Fund”) for the period of October 1, 2025 to March 31, 2026. You can find additional information about the Fund at https://www.abfunds.com/link/AB/ANAZX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Table Summary
Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class Z	$25	0.50%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Table Summary
Net Assets	$6,700,116,964
# of Portfolio Holdings	1,719
Portfolio Turnover Rate	134%
Total Advisory Fees Paid (Net)	$14,961,332

Class Z:ANAZX

Graphical Representation of Holdings

Security Type Breakdown (% of Net Assets)

Table Summary
Governments - Treasuries	44.7%
Corporates - Investment Grade	25.5%
Mortgage Pass-Throughs	13.8%
Collateralized Mortgage Obligations	4.0%
Collateralized Loan Obligations	3.5%
Commercial Mortgage-Backed Securities	3.2%
Asset-Backed Securities	2.7%
Covered Bonds	2.4%
Corporates - Non-Investment Grade	1.9%
Emerging Markets - Treasuries	1.5%
Governments - Sovereign Bonds	1.4%
Governments - Sovereign Agencies	1.1%
Others	4.0%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Country Breakdown (% of Net Assets)

Table Summary
United States	49.0%
United Kingdom	12.5%
Canada	8.8%
Japan	7.5%
France	5.3%
Italy	3.5%
Germany	3.3%
China	2.3%
Australia	1.7%
South Africa	1.3%
Brazil	1.2%
Indonesia	1.1%
Mexico	1.0%
Others	11.2%
Short-Term Investments	1.0%
Other assets less liabilities	-10.7%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/ANAZX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

GB-Z-0154-0326

Class Z:ANAZX

ITEM 2. CODE OF ETHICS.

Not applicable when filing a semi-annual report to shareholders.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable when filing a semi-annual report to shareholders.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable when filing a semi-annual report to shareholders.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable when filing a semi-annual report to shareholders.

ITEM 6. INVESTMENTS.

Please see Schedule of Investments contained in the Financial Statements included under Item 7 of this Form N-CSR.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

March 31, 2026

LOGO

SEMI-ANNUAL FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION

AB GLOBAL BOND FUND

LOGO



Investment Products Offered		• Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.abfunds.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing.

This shareholder report must be preceded or accompanied by the Fund’s prospectus for individuals who are not current shareholders of the Fund.

You may obtain a description of the Fund’s proxy voting policies and procedures, and information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge. Simply visit AB’s website at www.abfunds.com, or go to the Securities and Exchange Commission’s (the “Commission”) website at www.sec.gov, or call AB at (800) 227 4618.

The Fund files its complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Fund’s Form N-PORT reports are available on the Commission’s website at www.sec.gov. AB publishes full portfolio holdings for the Fund monthly at www.abfunds.com.

AllianceBernstein Investments, Inc. (ABI) is the distributor of the AB family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the Adviser of the funds.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

PORTFOLIO OF INVESTMENTS

March 31, 2026 (unaudited)


		Principal Amount (000)		U.S. $ Value

GOVERNMENTS - TREASURIES – 44.7%
Australia – 0.1%
Australia Government Bond Series 140 4.50%, 04/21/2033^(a)	AUD		14,527	$	9,834,173


Austria – 0.5%
Republic of Austria Government Bond 0.90%, 02/20/2032^(a)	EUR		33,061		33,915,970


Belgium – 0.4%
Kingdom of Belgium Government Bond Series 100 2.85%, 10/22/2034^(a)			5,618		6,218,887
Series 104 3.45%, 06/22/2042^(a)			14,547		15,643,008
Series 106 3.40%, 06/22/2036^(a)			4,806		5,450,427

					27,312,322

Canada – 6.9%
Canadian Government Bond 2.75%, 03/01/2030	CAD		192,922		137,288,566
2.75%, 09/01/2030			134,756		95,655,108
2.75%, 03/01/2031			289,608		205,027,352
2.75%, 12/01/2055			43,338		24,955,041

					462,926,067

China – 1.6%
China Government Bond Series INBK 1.61%, 02/15/2035	CNY		38,350		5,471,467
1.92%, 01/15/2055			326,450		42,866,837
2.11%, 08/25/2034			372,130		55,402,175

					103,740,479

Colombia – 0.1%
Colombian TES Series B 13.25%, 02/09/2033	COP		25,821,500		6,907,154


Finland – 0.2%
Finland Government Bond Series 10Y 1.50%, 09/15/2032^(a)	EUR		10,467		10,978,387


France – 1.2%
French Republic Government Bond OAT Series OAT 3.50%, 11/25/2035^(a)			69,468		78,815,771



ABFunds.com		AB Global Bond Fund 1

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Germany – 2.1%
Bundesrepublik Deutschland Bundesanleihe 2.50%, 08/15/2046^(a)	EUR		13,334	$	13,353,006
3.25%, 07/04/2042^(a)			68,021		77,575,945
Series TWIN 2.60%, 05/15/2041^(a)			49,470		52,283,555

					143,212,506

Hungary – 0.8%
Hungary Government Bond Series 35/A 7.00%, 10/24/2035	HUF		17,557,600		52,099,989


Indonesia – 0.7%
Indonesia Treasury Bond Series 101 6.875%, 04/15/2029	IDR		699,500,000		41,492,528
Series 109 5.875%, 03/15/2031			119,731,000		6,825,379

					48,317,907

Italy – 2.5%
Italy Buoni Poliennali Del Tesoro Series 7Y 3.15%, 11/15/2031^(a)	EUR		5,449		6,231,146
Series 10Y 3.45%, 02/01/2036^(a)			55,963		62,452,830
4.20%, 03/01/2034^(a)			56,606		67,797,685
Series 13Y 4.05%, 10/30/2037^(a)			17,818		20,698,985
Series 16Y 3.25%, 03/01/2038^(a)			6,560		7,030,822

					164,211,468

Japan – 6.7%
Japan Government Five Year Bond Series 176 1.00%, 12/20/2029	JPY		6,843,300		42,141,074
Series 179 1.00%, 06/20/2030			65,350		399,938
Japan Government Forty Year Bond Series 16 1.30%, 03/20/2063			2,529,000		8,360,580
Series 4 2.20%, 03/20/2051			6,389,350		31,122,942
Japan Government Ten Year Bond Series 357 0.10%, 12/20/2029			4,210,700		25,072,231
Series 381 2.10%, 12/20/2035			5,272,050		32,577,833



2 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Japan Government Thirty Year Bond Series 32 2.30%, 03/20/2040	JPY		1,070,000	$	6,339,338
Series 65 0.40%, 12/20/2049			604,000		1,916,086
Series 68 0.60%, 09/20/2050			3,699,600		12,134,168
Series 81 1.60%, 12/20/2053			2,350,700		9,556,098
Series 82 1.80%, 03/20/2054			10,605,100		45,297,653
Series 88 3.20%, 09/20/2055			1,518,200		8,810,608
Japan Government Twenty Year Bond Series 169 0.30%, 06/20/2039			1,984,250		9,127,496
Series 183 1.40%, 12/20/2042			8,080,800		39,900,234
Japan Government Two Year Bond Series 469 0.70%, 02/01/2027			21,040,500		132,156,561
Series 479 1.00%, 12/01/2027			1,800,000		11,287,597
Series 480 1.10%, 01/01/2028			5,056,100		31,741,598

					447,942,035

Mexico – 0.2%
Mexican Bonos Series M 8.00%, 02/21/2036	MXN		324,711		16,571,196


Peru – 0.7%
Peru Government Bond 6.85%, 08/12/2035^(a)	PEN		156,002		45,473,872


Poland – 0.2%
Republic of Poland Government Bond Series 1035 5.00%, 10/25/2035	PLN		41,420		10,447,889


South Korea – 0.6%
Korea Treasury Bond Series 3412 3.00%, 12/10/2034	KRW		32,285,770		19,680,886
Series 5509 2.625%, 09/10/2055			38,612,440		20,045,260

					39,726,146



ABFunds.com		AB Global Bond Fund 3

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Spain – 0.2%
Spain Government Bond 3.50%, 01/31/2041^(a)	EUR		13,189	$	14,631,414


Thailand – 0.3%
Thailand Government Bond 2.98%, 06/17/2045	THB		341,966		10,003,128
3.45%, 06/17/2043			416,137		13,001,442

					23,004,570

United Kingdom – 8.4%
United Kingdom Gilt 0.875%, 01/31/2046^(a)	GBP		42,708		25,280,606
3.50%, 01/22/2045^(a)			1,810		1,847,849
3.75%, 10/22/2053^(a)			158		156,559
4.00%, 10/22/2031^(a)			115,591		149,199,955
4.125%, 03/07/2031^(a)			6,554		8,541,807
4.25%, 12/07/2040^(a)			38,665		45,910,092
4.375%, 03/07/2030^(a)			26,745		35,338,409
4.375%, 01/31/2040^(a)			31,839		38,587,576
4.50%, 03/07/2035^(a)			119,676		154,262,013
4.75%, 10/22/2035^(a)			81,699		106,708,444

					565,833,310

United States – 10.3%
U.S. Treasury Bonds 1.125%, 05/15/2040	U.S.$		131,422		82,775,073
1.125%, 08/15/2040			122,779		76,526,036
2.50%, 02/15/2045			68,762		48,230,377
3.00%, 11/15/2045			28,240		21,347,675
4.50%, 11/15/2054			1,350		1,260,915
4.625%, 11/15/2055			16,559		15,816,146
4.75%, 05/15/2055			57,402		55,886,521
4.75%, 02/15/2056			1,545		1,506,472
U.S. Treasury Notes 1.25%, 05/31/2028			218,191		206,651,122
3.375%, 11/30/2027			1,010		1,002,622
3.375%, 02/29/2028			1,071		1,063,072
3.50%, 02/28/2031			64,062		62,820,603
3.625%, 10/31/2030			108,643		107,242,524
4.00%, 07/31/2032			5,393		5,366,456
4.125%, 02/15/2036			3,083		3,034,434

					690,530,048

Total Governments - Treasuries (cost $3,217,978,939)					2,996,432,673



4 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

CORPORATES - INVESTMENT GRADE – 25.5%
Financial Institutions – 11.4%
Banking – 9.3%
Abanca Corp. Bancaria SA Series E 8.375%, 09/23/2033^(a)	EUR		300	$	376,898
ABN AMRO Bank NV 4.75%, 09/22/2027^(a)(b)			5,200		6,004,976
AIB Group PLC 5.32%, 05/15/2031^(a)	U.S.$		1,761		1,791,971
Al Rajhi Sukuk Ltd. Series E 6.25%, 07/21/2030^(a)(b)			200		196,029
Ally Financial, Inc. 5.54%, 01/17/2031			4,136		4,163,577
6.85%, 01/03/2030			1,627		1,696,590
8.00%, 11/01/2031			434		480,904
American Express Co. 3.43%, 05/20/2032	EUR		362		412,135
Banco Bilbao Vizcaya Argentaria SA 4.625%, 01/13/2031^(a)			200		239,549
5.13%, 03/03/2036	U.S.$		8,800		8,540,167
7.88%, 11/15/2034			200		225,459
Banco de Credito del Peru SA 3.25%, 09/30/2031^(a)			510		502,843
Banco de Sabadell SA Series E 6.00%, 08/16/2033^(a)	EUR		300		360,084
Banco Internacional del Peru SAA Interbank 4.80%, 07/15/2031^(a)	U.S.$		350		343,143
Banco Santander Chile 4.55%, 11/20/2030^(a)			300		296,430
Banco Santander SA 2.75%, 12/03/2030			800		718,618
4.175%, 03/24/2028			8,600		8,560,498
4.38%, 04/12/2028			600		597,996
5.365%, 07/15/2028			200		202,109
6.03%, 01/17/2035			200		208,544
6.44%, 07/17/2034^(a)	AUD		5,300		3,682,098
6.50%, 01/23/2031^(a)			3,090		2,179,584
6.92%, 08/08/2033	U.S.$		800		861,799
Series E 0.625%, 06/24/2029^(a)	EUR		500		543,174
2.125%, 02/08/2028^(a)			400		451,626
4.875%, 10/18/2031^(a)			200		242,769
5.50%, 06/11/2029^(a)	GBP		100		133,414
5.625%, 01/27/2031^(a)			100		133,330
5.75%, 08/23/2033^(a)	EUR		7,000		8,380,604
Bangkok Bank PCL/Hong Kong 4.51%, 11/26/2030^(a)	U.S.$		497		493,036



ABFunds.com		AB Global Bond Fund 5

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

9.025%, 03/15/2029^(a)	U.S.$		440	$	486,882
Bank Hapoalim BM 3.255%, 01/21/2032^(a)			257		253,065
4.72%, 07/14/2029^(a)			460		454,633
Bank of America Corp. 3.97%, 03/05/2029			560		555,069
Series B 8.05%, 06/15/2027			930		969,017
Series E 3.26%, 01/28/2031^(a)	EUR		2,639		3,006,782
Bank of East Asia Ltd. (The) Series E 4.875%, 04/22/2032^(a)	U.S.$		300		298,776
6.75%, 06/27/2034^(a)			470		487,540
Bank of Ireland Group PLC 5.60%, 03/20/2030^(a)			3,110		3,190,650
Series E 4.625%, 11/13/2029^(a)	EUR		1,944		2,313,177
Bank of Montreal 3.09%, 01/10/2037	U.S.$		3,515		3,121,133
Series J 4.34%, 03/19/2030			55		54,724
Bank of New York Mellon Corp. (The) 3.99%, 06/13/2028			266		264,852
6.32%, 10/25/2029			270		282,762
Bank of Nova Scotia (The) 3.73%, 06/27/2031	CAD		500		358,212
4.40%, 09/08/2028	U.S.$		561		560,560
4.59%, 05/04/2037			9,800		9,378,751
4.93%, 02/14/2029			299		301,545
Banque Federative du Credit Mutuel SA 4.99%, 01/06/2031^(a)	AUD		650		432,848
5.13%, 05/24/2027^(a)			8,450		5,810,526
Series E 2.50%, 05/25/2028^(a)	EUR		300		339,117
Barclays PLC 3.38%, 05/20/2032^(a)	AUD		4,500		2,724,331
4.35%, 05/08/2035^(a)	EUR		300		348,247
4.84%, 09/10/2028	U.S.$		488		489,504
5.09%, 02/25/2029			397		400,078
5.09%, 06/20/2030			612		614,070
5.85%, 03/21/2035^(a)	GBP		100		131,105
6.125%, 12/15/2035^(a)(b)	EUR		5,630		6,214,714
6.22%, 05/09/2034	U.S.$		4,978		5,212,252
7.09%, 11/06/2029^(a)	GBP		1,924		2,647,336
Series E 4.92%, 08/08/2030^(a)	EUR		254		304,510
5.26%, 01/29/2034^(a)			334		410,057



6 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

8.41%, 11/14/2032^(a)	GBP		5,875	$	8,101,076
BNP Paribas SA 2.16%, 09/15/2029^(a)	U.S.$		710		668,726
4.79%, 05/09/2029^(a)			995		997,675
5.83%, 08/23/2034^(a)	AUD		1,570		1,066,366
Series E 0.50%, 09/01/2028^(a)	EUR		100		111,072
2.00%, 05/24/2031^(a)	GBP		6,500		8,559,339
2.75%, 07/25/2028^(a)	EUR		300		343,972
3.49%, 09/17/2033^(a)			400		447,608
3.695%, 02/24/2028^(a)	AUD		1,800		1,220,370
3.78%, 01/19/2036^(a)	EUR		300		337,625
4.04%, 01/10/2032^(a)			400		465,569
4.75%, 11/13/2032^(a)			200		240,047
6.00%, 08/18/2029^(a)	GBP		300		404,945
BPCE SA 3.12%, 10/19/2032^(a)	U.S.$		351		309,721
4.76%, 01/13/2032^(a)			15,435		15,193,878
5.08%, 10/23/2029^(a)	AUD		500		338,759
5.25%, 04/16/2029^(a)	GBP		500		653,679
5.42%, 01/13/2037^(a)	U.S.$		533		517,707
5.88%, 01/14/2031^(a)			297		305,815
6.27%, 10/24/2028^(a)	AUD		2,870		2,014,428
Series E 4.625%, 03/02/2030^(a)	EUR		300		355,830
BSF Finance Series E 5.76%, 09/03/2035^(a)	U.S.$		250		240,746
CaixaBank SA 4.885%, 07/03/2031^(a)			514		513,877
6.84%, 09/13/2034^(a)			200		217,558
Series E 6.25%, 02/23/2033^(a)	EUR		400		479,761
Canadian Imperial Bank of Commerce 3.65%, 12/10/2028	CAD		1,280		922,869
Series E 3.25%, 07/16/2031^(a)	EUR		497		563,522
Capital One Financial Corp. 1.65%, 06/12/2029			587		635,552
4.72%, 01/30/2032	U.S.$		289		284,584
6.18%, 01/30/2036			544		552,803
7.96%, 11/02/2034			78		89,394
CBQ Finance Ltd. Series E 2.00%, 05/12/2026^(a)			450		447,750
Citigroup, Inc. 2.93%, 10/22/2030	EUR		598		676,330
3.67%, 07/24/2028	U.S.$		144		142,503



ABFunds.com		AB Global Bond Fund 7

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.66%, 05/24/2028	U.S.$		674	$	675,288
5.59%, 11/19/2034			10,677		10,825,694
5.83%, 02/13/2035			282		285,574
6.02%, 01/24/2036			402		410,811
6.17%, 05/25/2034			604		625,566
Series AA 7.625%, 11/15/2028^(b)			1,138		1,176,308
Series E 3.75%, 05/14/2032^(a)	EUR		1,033		1,191,832
4.50%, 03/03/2031^(a)	GBP		50		63,605
Series Y 4.15%, 11/15/2026^(b)	U.S.$		7,121		7,011,489
Citizens Financial Group, Inc. 5.72%, 07/23/2032			374		384,556
Commerzbank AG Series E 4.625%, 01/17/2031^(a)	EUR		15,700		18,692,329
4.875%, 10/16/2034^(a)			300		353,799
5.125%, 01/18/2030^(a)			200		240,466
8.625%, 02/28/2033^(a)	GBP		100		138,841
Commonwealth Bank of Australia 5.03%, 01/15/2031	AUD		5,430		3,683,834
5.25%, 09/12/2035^(a)			3,050		2,040,787
Series E 4.27%, 06/04/2034	EUR		225		261,954
Cooperatieve Rabobank UA 4.375%, 06/29/2027^(a)(b)			200		231,915
Credit Agricole SA 1.87%, 12/09/2031^(a)	GBP		1,100		1,423,572
3.75%, 01/23/2031^(a)	EUR		200		231,527
4.66%, 01/12/2032^(a)	U.S.$		266		262,201
4.82%, 09/25/2033^(a)			5,556		5,442,263
5.22%, 05/27/2031^(a)			6,778		6,853,761
5.41%, 01/18/2029^(a)	AUD		4,970		3,414,756
5.75%, 11/29/2027^(a)	GBP		1,200		1,597,410
6.06%, 01/16/2035^(a)	AUD		4,670		3,199,832
Series E 0.50%, 09/21/2029^(a)	EUR		800		859,836
Credit Mutuel Arkea SA Series E 1.25%, 06/11/2029^(a)			800		881,093
Danske Bank A/S 4.66%, 03/27/2029^(a)	U.S.$		371		371,705
Series E 2.25%, 01/14/2028^(a)	GBP		6,550		8,487,439
4.625%, 05/14/2034^(a)	EUR		1,150		1,356,217
Deutsche Bank AG 1.375%, 02/17/2032^(a)			100		102,543



8 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series E 1.75%, 11/19/2030^(a)	EUR		700	$	751,310
1.875%, 12/22/2028^(a)	GBP		100		125,027
4.125%, 04/04/2030^(a)	EUR		4,900		5,719,677
Deutsche Bank AG/New York NY 3.73%, 01/14/2032	U.S.$		9,644		8,936,746
3.74%, 01/07/2033			2,987		2,712,888
4.725%, 02/06/2032			2,521		2,481,211
6.82%, 11/20/2029			150		157,416
7.08%, 02/10/2034			200		213,843
Deutsche Pfandbriefbank AG Series E 3.25%, 09/01/2028^(a)	EUR		224		251,667
Erste Group Bank AG Series E 3.75%, 04/21/2036^(a)			11,200		12,629,699
First Abu Dhabi Bank PJSC 4.50%, 04/07/2026^(a)(b)	U.S.$		480		479,100
5.80%, 01/16/2035^(a)			340		338,980
First Citizens BancShares, Inc./NC 4.87%, 03/03/2032			58		56,058
General Motors Financial of Canada Ltd. 5.10%, 07/14/2028	CAD		2,944		2,178,962
Goldman Sachs Group, Inc. (The) 2.615%, 04/22/2032	U.S.$		64		57,497
3.615%, 03/15/2028			32		31,736
3.69%, 06/05/2028			676		669,815
3.81%, 04/23/2029			620		611,453
4.22%, 05/01/2029			679		675,016
4.48%, 08/23/2028			644		643,721
4.94%, 04/23/2028			68		68,317
5.22%, 04/23/2031			50		50,838
6.875%, 01/18/2038	GBP		50		68,693
Series E 3.50%, 01/23/2033^(a)	EUR		16,964		19,237,174
HSBC Holdings PLC 0.77%, 11/13/2031^(a)			344		348,105
2.01%, 09/22/2028	U.S.$		327		315,186
2.85%, 06/04/2031			244		225,361
3.00%, 05/29/2030	GBP		100		123,587
4.58%, 06/19/2029	U.S.$		489		488,369
4.90%, 03/03/2029			419		421,139
5.21%, 08/11/2028			636		641,005
5.55%, 03/04/2030			4,783		4,898,712
5.60%, 05/17/2028			286		289,153
5.73%, 05/17/2032			250		258,088
5.74%, 09/10/2036			522		520,924
6.36%, 11/16/2032^(a)	EUR		8,812		10,558,755



ABFunds.com		AB Global Bond Fund 9

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

6.50%, 05/02/2036	U.S.$		100	$	104,581
6.50%, 09/15/2037			295		309,565
7.40%, 11/13/2034			319		352,006
8.11%, 11/03/2033			656		749,790
Series E 4.79%, 03/10/2032^(a)	EUR		706		852,082
4.86%, 05/23/2033^(a)			3,139		3,796,161
5.75%, 12/20/2027^(a)	GBP		74		98,415
Huntington National Bank (The) 4.55%, 05/17/2028	U.S.$		250		250,077
ING Groep NV 0.25%, 02/18/2029^(a)	EUR		600		654,318
0.375%, 09/29/2028^(a)			100		110,707
1.75%, 02/16/2031^(a)			300		323,246
4.02%, 03/28/2028	U.S.$		214		212,975
4.125%, 08/24/2033^(a)	EUR		100		116,307
4.50%, 05/23/2029^(a)			500		590,310
5.25%, 11/14/2033^(a)			2,900		3,603,590
Series E 2.125%, 05/26/2031^(a)			200		230,958
4.125%, 05/20/2036^(a)			9,900		11,408,449
Series VAR 4.80%, 03/23/2032	U.S.$		318		315,805
Intercorp Peru Ltd.
3.875%, 08/15/2029^(a)			370		355,711
Intesa Sanpaolo SpA
3.875%, 07/14/2027^(a)			200		198,594
4.20%, 06/01/2032^(a)			9,930		9,319,744
8.25%, 11/21/2033^(a)			473		545,025
JPMorgan Chase & Co.
2.18%, 06/01/2028			699		681,335
2.95%, 02/24/2028			720		710,840
3.51%, 01/23/2029			235		231,205
4.98%, 07/22/2028			668		672,557
6.07%, 10/22/2027			1,048		1,057,269
Series E 4.46%, 11/13/2031^(a)	EUR		13,850		16,527,156
Kasikornbank PCL/Hong Kong 5.46%, 03/07/2028^(a)	U.S.$		240		243,823
KBC Group NV 5.80%, 01/19/2029^(a)			300		306,583
Series E 0.125%, 01/14/2029^(a)	EUR		100		109,269
4.25%, 11/28/2029^(a)			300		353,901
4.375%, 04/19/2030^(a)			100		118,520
6.15%, 03/19/2034^(a)	GBP		7,900		10,637,892
KEB Hana Bank 1.25%, 12/16/2026^(a)	U.S.$		200		195,680



10 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Kookmin Bank 2.50%, 11/04/2030^(a)	U.S.$		410	$	370,640
Lloyds Banking Group PLC 3.75%, 03/18/2028			285		283,015
4.75%, 05/23/2028^(a)	AUD		1,430		970,208
5.39%, 06/10/2027			5,930		4,095,097
5.72%, 06/05/2030	U.S.$		200		206,399
5.80%, 03/17/2029	AUD		3,450		2,387,354
6.07%, 06/13/2036	U.S.$		202		205,270
Series 3 1.05%, 12/15/2026	JPY		100,000		627,214
Series E 3.875%, 05/14/2032^(a)	EUR		272		315,451
4.00%, 05/09/2035^(a)			3,996		4,589,364
4.75%, 09/21/2031^(a)			5,171		6,225,000
Series MTN 7.09%, 08/31/2033^(a)	AUD		600		422,701
Macquarie Bank Ltd. 4.53%, 03/29/2029^(a)	U.S.$		57		57,235
Macquarie Group Ltd. 1.935%, 04/14/2028^(a)			4,261		4,147,587
Mitsubishi UFJ Financial Group, Inc.
Series E 3.56%, 09/05/2032^(a)	EUR		400		457,707
4.64%, 06/07/2031^(a)			240		288,334
Mizuho Financial Group, Inc. 4.25%, 09/11/2029	U.S.$		693		688,517
Series E 0.80%, 04/15/2030^(a)	EUR		297		307,808
4.42%, 05/20/2033^(a)			168		199,484
4.61%, 08/28/2030^(a)			309		370,970
Morgan Stanley 0.495%, 10/26/2029			1,008		1,080,457
3.52%, 05/22/2031			18,605		21,351,582
3.79%, 03/21/2030			247		287,072
4.21%, 04/20/2028	U.S.$		678		676,090
4.24%, 01/09/2030			242		239,483
4.66%, 03/02/2029	EUR		549		648,364
4.71%, 03/12/2032	U.S.$		55		54,628
5.19%, 04/17/2031			1,231		1,249,436
5.30%, 04/20/2037			637		634,875
5.45%, 07/20/2029			675		687,382
Series G 3.15%, 11/07/2031	EUR		591		665,208
3.38%, 01/23/2032			1,422		1,615,160
3.77%, 01/24/2029	U.S.$		288		284,326
4.43%, 01/23/2030			359		357,120
5.15%, 01/25/2034	EUR		214		263,394



ABFunds.com		AB Global Bond Fund 11

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Morgan Stanley Bank NA 4.97%, 07/14/2028	U.S.$		265	$	266,592
National Australia Bank Ltd. 2.99%, 05/21/2031^(a)			313		284,756
Series G 1.70%, 09/15/2031^(a)	GBP		160		208,574
Nationwide Building Society 4.30%, 03/08/2029^(a)	U.S.$		698		693,054
4.375%, 04/16/2034^(a)	EUR		427		497,988
4.95% (SOFR + 1.29%), 02/16/2028^(a)(c)	U.S.$		290		291,449
Series E 3.83%, 07/24/2032^(a)	EUR		704		811,611
4.00%, 07/30/2035^(a)			3,486		3,977,928
4.625%, 10/29/2028^(a)			100		117,863
5.50%, 07/14/2036^(a)	GBP		7,165		9,291,474
NatWest Group PLC 3.03%, 11/28/2035	U.S.$		414		376,262
4.96%, 08/15/2030			295		297,556
6.475%, 06/01/2034			4,321		4,478,839
Series E 0.78%, 02/26/2030^(a)	EUR		3,304		3,523,613
2.105%, 11/28/2031^(a)	GBP		246		321,450
5.76%, 02/28/2034^(a)	EUR		815		979,284
NatWest Markets PLC 4.89%, 06/05/2030^(a)	AUD		8,660		5,800,769
5.03%, 06/12/2029^(a)			4,190		2,843,396
NBK Tier 1 Ltd. 6.375%, 01/10/2031^(a)(b)	U.S.$		300		293,064
Nordea Bank Abp Series E 4.75%, 02/25/2029^(a)	GBP		100		131,126
Oversea-Chinese Banking Corp., Ltd. 4.60%, 06/15/2032^(a)	U.S.$		250		250,010
PNC Financial Services Group, Inc. (The) 6.875%, 10/20/2034			604		666,517
QNB Finance Ltd. Series E 2.75%, 02/12/2027^(a)			240		235,567
Royal Bank of Canada Series E 3.25%, 01/22/2031^(a)	EUR		100		114,246
Series G 4.715%, 03/27/2028	U.S.$		488		489,639
Santander Holdings USA, Inc. 6.17%, 01/09/2030			650		671,301
6.565%, 06/12/2029			163		168,678
Santander UK Group Holdings PLC 4.32%, 09/22/2029			423		419,065
4.86%, 09/11/2030			2,598		2,600,769



12 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

6.53%, 01/10/2029	U.S.$		9,670	$	9,971,054
Series E 0.60%, 09/13/2029^(a)	EUR		627		674,165
2.42%, 01/17/2029^(a)	GBP		2,130		2,681,805
7.10%, 11/16/2027^(a)			1,858		2,491,220
Scotiabank Peru SAA 6.10%, 10/01/2035^(a)	U.S.$		200		203,570
Shinhan Bank Co., Ltd. 4.00%, 04/23/2029^(a)			760		745,355
Series G 4.50%, 03/26/2028^(a)			200		199,500
SNB Funding Ltd. Series E 6.00%, 06/24/2035^(a)			250		248,062
Societe Generale SA 0.50%, 06/12/2029^(a)	EUR		200		216,342
3.75%, 07/15/2031^(a)			300		345,428
4.75%, 09/14/2028^(a)	U.S.$		551		552,540
4.875%, 11/21/2031^(a)	EUR		700		843,976
5.25%, 05/22/2029^(a)	U.S.$		895		903,266
5.40%, 04/10/2037^(a)			533		514,683
5.51%, 05/22/2031^(a)			17,497		17,832,945
5.52%, 01/19/2028^(a)			282		283,913
7.37%, 01/10/2053^(a)			646		673,637
Series 9 0.40%, 06/03/2026	JPY		100,000		628,796
Series E 4.25%, 12/06/2030^(a)	EUR		200		234,763
5.75%, 01/22/2032^(a)	GBP		100		132,815
Standard Chartered PLC 3.265%, 02/18/2036^(a)	U.S.$		7,864		7,144,939
4.20%, 03/04/2032^(a)	EUR		239		278,979
4.30%, 01/13/2030^(a)	U.S.$		320		316,456
4.53%, 06/05/2032^(a)			325		316,978
4.87%, 03/15/2033^(a)			580		577,633
4.87%, 05/10/2031^(a)	EUR		249		299,175
5.005%, 10/15/2030^(a)	U.S.$		667		671,455
5.24%, 05/13/2031^(a)			240		243,265
5.44% (CME Term SOFR 3 Month + 1.77%), 01/30/2027^(a)(b)(c)			8,000		7,607,532
6.30%, 01/09/2029^(a)			210		215,624
7.77%, 11/16/2028^(a)			279		292,188
Series E 3.86%, 03/17/2033^(a)	EUR		7,420		8,482,650
State Street Corp. 4.54%, 04/24/2028	U.S.$		685		686,280
Sumitomo Mitsui Financial Group, Inc. 4.49%, 01/15/2032			3,789		3,724,254



ABFunds.com		AB Global Bond Fund 13

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

5.71%, 01/13/2030	U.S.$		505	$	523,165
Svenska Handelsbanken AB Series E 4.625%, 08/23/2032^(a)	GBP		6,755		8,852,733
Swedbank AB 4.90%, 03/30/2031^(a)	U.S.$		4,660		4,673,873
7.27%, 11/15/2032^(a)	GBP		1,904		2,594,661
Synchrony Financial 5.15%, 03/19/2029	U.S.$		669		670,640
5.935%, 08/02/2030			6,358		6,464,856
7.25%, 02/02/2033			463		472,250
Toronto-Dominion Bank (The) 4.42%, 10/31/2035	CAD		226		163,762
5.15%, 09/10/2034	U.S.$		173		173,390
5.25%, 07/23/2029^(a)	AUD		2,190		1,495,160
Series E 3.63%, 12/13/2029^(a)	EUR		273		316,458
Series G 3.56%, 04/16/2031^(a)			410		471,585
UBS Group AG 2.095%, 02/11/2032^(a)	U.S.$		253		222,907
2.875%, 04/02/2032^(a)	EUR		9,430		10,465,025
4.19%, 04/01/2031^(a)	U.S.$		403		393,933
6.625%, 01/08/2031^(a)(b)			5,185		5,024,139
7.125%, 08/10/2034^(a)(b)			2,613		2,554,385
9.25%, 11/13/2028^(a)(b)			1,373		1,458,607
Series E 0.625%, 01/18/2033^(a)	EUR		340		315,446
3.125%, 06/15/2030^(a)			351		399,476
4.75%, 03/17/2032^(a)			286		344,926
UniCredit SpA 1.98%, 06/03/2027^(a)	U.S.$		415		413,035
5.86%, 06/19/2032^(a)			11,659		11,739,881
Series E 4.45%, 02/16/2029^(a)	EUR		278		326,806
United Overseas Bank Ltd. 2.00%, 10/14/2031^(a)	U.S.$		200		197,424
US Bancorp 4.01%, 05/21/2032	EUR		350		406,611
Visa, Inc. 2.25%, 05/15/2028			7,313		8,283,872
Wells Fargo & Co. 2.39%, 06/02/2028	U.S.$		283		276,228
3.53%, 03/24/2028			388		384,825
5.71%, 04/22/2028			666		674,649
Series E 3.90%, 07/22/2032^(a)	EUR		630		731,983



14 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Westpac Banking Corp. 4.50%, 10/30/2030^(a)	AUD		5,420	$	3,605,375
Westpac New Zealand Ltd. 4.13%, 01/29/2029^(a)	U.S.$		210		208,462
Woori Bank 6.375%, 07/24/2029^(a)(b)			230		237,259
Zions Bancorp NA 6.82%, 11/19/2035			656		673,997

					627,076,111

Brokerage – 0.1%
Affiliated Managers Group, Inc. 5.50%, 02/15/2036			58		57,124
Apollo Global Management, Inc. 5.15%, 08/12/2035			68		65,914
5.70%, 03/30/2036			374		374,257
5.80%, 05/21/2054			386		358,337
Blue Owl Finance LLC 6.25%, 04/18/2034			427		412,007
Charles Schwab Corp. (The) 4.18% (SOFR + 0.52%), 05/13/2026^(c)			5,465		5,465,114
China Great Wall International Holdings V Ltd. 2.875%, 11/23/2026^(a)			400		396,184
China Great Wall International Holdings VI Ltd. 5.25%, 04/23/2028^(a)			240		242,635

					7,371,572

Finance – 0.5%
Aircastle Ltd. 5.25%, 06/15/2026^(a)(b)			185		184,098
Apollo Debt Solutions BDC 5.20%, 12/08/2028^(a)			58		57,299
Ares Capital Corp. 5.50%, 09/01/2030			54		53,045
5.875%, 03/01/2029			661		665,826
5.95%, 07/15/2029			160		160,884
Ares Strategic Income Fund 4.85%, 01/15/2029^(a)			57		55,263
5.15%, 01/15/2031^(a)			57		53,824
Barings BDC, Inc. 5.20%, 09/15/2028			57		55,703
Blackstone Private Credit Fund 5.95%, 07/16/2029			682		672,031
7.30%, 11/27/2028			129		131,913
Blackstone Secured Lending Fund 5.25%, 09/04/2029			59		57,825
5.35%, 04/13/2028			545		541,545
Blue Owl Capital Corp. 5.95%, 03/15/2029			673		665,251



ABFunds.com		AB Global Bond Fund 15

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Blue Owl Credit Income Corp. 4.25%, 01/31/2031^(a)	EUR		100	$	107,473
5.80%, 03/15/2030	U.S.$		124		119,728
Blue Owl Technology Finance Corp. 6.10%, 03/15/2028			673		665,616
6.75%, 04/04/2029			480		472,411
Brookfield Finance, Inc. 5.33%, 01/15/2036			56		54,821
6.35%, 01/05/2034			123		130,495
CFAMC IV Co., Ltd. Series E 4.50%, 05/29/2029^(a)			200		198,592
CFAMC II Co., Ltd. Series E 4.625%, 06/03/2026^(a)			213		212,928
CIMIC Finance Ltd. Series G 1.50%, 05/28/2029^(a)	EUR		390		418,781
Credicorp Capital Sociedad Titulizadora SA 10.10%, 12/15/2043^(a)	PEN		22,925		7,147,799
FS KKR Capital Corp. 3.125%, 10/12/2028	U.S.$		739		675,415
6.125%, 01/15/2030			136		129,549
Goldman Sachs BDC, Inc. 5.10%, 01/28/2029			58		56,372
Goldman Sachs Private Credit Corp. 5.05%, 02/23/2028^(a)			58		57,205
5.875%, 01/31/2031^(a)			56		54,372
Groupe Bruxelles Lambert NV 4.00%, 05/15/2033^(a)	EUR		200		232,576
HPS Corporate Lending Fund 5.15%, 04/02/2029^(a)	U.S.$		58		56,358
5.30%, 06/05/2027^(a)			55		54,745
5.45%, 11/15/2030^(a)			634		606,407
5.65%, 04/02/2031^(a)			58		55,641
5.85%, 06/05/2030^(a)			598		583,266
MSD Investment Corp. 6.125%, 02/05/2031^(a)			58		56,215
North Haven Private Income Fund LLC 5.125%, 09/25/2028^(a)			58		56,502
Oaktree Specialty Lending Corp. 6.34%, 02/27/2030			517		503,939
Oaktree Strategic Credit Fund 6.19%, 07/15/2030			53		51,807
Sixth Street Lending Partners 5.75%, 01/15/2030			402		395,622
Sixth Street Specialty Lending, Inc. 5.625%, 08/15/2030			305		299,156



16 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Temasek Financial I Ltd. Series E 2.75%, 08/28/2034^(a)	CNH		62,000	$	9,271,667
3.10%, 08/28/2054^(a)			39,050		5,949,072
Wendel SE 4.50%, 06/19/2030^(a)	EUR		400		472,330

					32,501,367

Financial Services – 0.2%
China Cinda 2020 I Management Ltd. Series E 3.00%, 01/20/2031^(a)	U.S.$		510		474,024
Equinix Europe 2 Financing Corp. LLC 3.25%, 03/15/2031	EUR		136		152,571
4.00%, 05/19/2034			100		112,911
Ford Credit Canada Co. Cie Credit Ford Du Canada 6.38%, 11/10/2028	CAD		12,312		9,233,993
Lincoln Financial Global Funding 4.20%, 01/12/2029^(a)	U.S.$		77		76,179
Lseg US Fin Corp. 4.25%, 03/23/2029^(a)			230		228,322
4.50%, 03/23/2031^(a)			288		284,468
STC Sukuk Co. II Ltd. 4.49%, 01/15/2031^(a)			510		497,987

					11,060,455

Insurance – 0.7%
Aegon Ltd. 5.50%, 04/11/2048			686		684,579
AIA Group Ltd. 4.95%, 04/04/2033^(a)			240		246,060
4.95%, 03/30/2035^(a)			250		247,828
Allianz SE 1.30%, 09/25/2049^(a)	EUR		100		106,191
4.43%, 07/25/2055^(a)			100		115,544
5.82%, 07/25/2053^(a)			200		251,832
Series E 4.25%, 07/05/2052^(a)			400		463,565
American National Global Funding 4.625%, 12/15/2028^(a)	U.S.$		58		57,538
Argentum Netherlands BV for Zurich Insurance Co., Ltd. 2.75%, 02/19/2049^(a)	EUR		164		184,645
Series E 3.50%, 10/01/2046^(a)			155		179,174
Athene Global Funding 1.75%, 11/24/2027^(a)	GBP		100		124,696
2.67%, 06/07/2031^(a)	U.S.$		3,387		2,957,024



ABFunds.com		AB Global Bond Fund 17

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

5.03%, 07/17/2030^(a)	U.S.$		1,478	$	1,461,868
5.15%, 07/28/2027^(a)	GBP		100		131,709
5.38%, 01/07/2030^(a)	U.S.$		6,188		6,198,000
5.53%, 07/11/2031^(a)			10,192		10,201,383
5.58%, 01/09/2029^(a)			319		322,205
Series E 1.875%, 11/30/2028^(a)	GBP		100		120,366
3.41%, 02/25/2030^(a)	EUR		100		111,815
Athene Holding Ltd. 6.25%, 04/01/2054	U.S.$		633		581,381
Aviva PLC 4.00%, 06/03/2055^(a)	GBP		135		149,215
AXA SA Series E 1.875%, 07/10/2042^(a)	EUR		189		191,656
3.25%, 05/28/2049^(a)			651		738,478
Berkshire Hathaway, Inc. 1.51%, 11/29/2028	JPY		100,000		623,883
Brighthouse Financial, Inc. 5.625%, 05/15/2030	U.S.$		247		245,798
Centene Corp. 2.50%, 03/01/2031			790		662,312
2.625%, 08/01/2031			782		654,315
3.375%, 02/15/2030			322		291,042
Chubb INA Holdings LLC 2.75%, 08/06/2035^(a)	CNH		42,100		6,037,263
Cloverie PLC for Zurich Insurance Co., Ltd. Series E 5.625%, 06/24/2046^(a)	U.S.$		315		314,810
CNO Global Funding 5.875%, 06/04/2027^(a)			367		372,110
Coface SA 6.00%, 09/22/2032^(a)	EUR		300		378,181
Enstar Group Ltd. 3.10%, 09/01/2031	U.S.$		444		392,169
F&G Global Funding 4.50%, 01/09/2029^(a)			58		56,840
GA Global Funding Trust 4.50%, 09/18/2030^(a)			150		144,543
Series E 3.75%, 06/20/2032^(a)	EUR		100		109,757
Generali Series E 5.50%, 10/27/2047^(a)			138		162,967
5.80%, 07/06/2032^(a)			200		250,021
Global Atlantic Fin Co. 3.125%, 06/15/2031^(a)	U.S.$		761		667,280
Hannover Rueck SE 5.875%, 08/26/2043^(a)	EUR		200		252,157



18 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Hartford Insurance Group, Inc. (The) Series ICON 6.04% (CME Term SOFR 3 Month + 2.39%), 02/12/2047^(a)(c)	U.S.$		331	$	316,352
Massachusetts Mutual Life Insurance Co. 3.73%, 10/15/2070^(a)			703		438,875
MassMutual Global Funding II Series E 3.25%, 06/11/2032^(a)	EUR		179		199,939
MetLife, Inc. 10.75% (CME Term SOFR 3 Month + 0.00%), 08/01/2039	U.S.$		291		376,284
Metropolitan Life Global Funding I 5.40%, 07/11/2029^(a)	AUD		2,537		1,740,385
Series G 3.75%, 12/07/2031^(a)	EUR		149		172,851
NN Group NV Series E 4.625%, 01/13/2048^(a)			583		683,950
Pacific Life Global Funding II Series E 3.125%, 06/18/2031^(a)			100		112,654
Principal Life Global Funding II 4.80%, 01/09/2028^(a)	U.S.$		348		349,978
Progressive Corp. (The) 4.60%, 03/26/2031			55		55,113
Protective Life Global Funding 5.08%, 04/15/2031^(a)	GBP		100		131,175
Prudential Financial, Inc. 4.50%, 09/15/2047	U.S.$		689		671,662
5.70%, 09/15/2048			675		667,645
Sampo Oyj 3.375%, 05/23/2049^(a)	EUR		205		231,606
SBL Holdings, Inc. 5.00%, 02/18/2031^(a)	U.S.$		658		565,838
7.20%, 10/30/2034^(a)			540		472,535
Swiss Re Finance UK PLC Series E 2.71%, 06/04/2052^(a)	EUR		500		526,006
Talanx AG Series GDIP 2.25%, 12/05/2047^(a)			300		338,139

					45,493,187

REITs – 0.6%
Aldar Properties PJSC 5.875%, 04/14/2056^(a)	U.S.$		250		228,902
American Homes 4 Rent LP 4.25%, 02/15/2028			394		391,984



ABFunds.com		AB Global Bond Fund 19

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.95%, 06/15/2030	U.S.$		624	$	625,997
5.50%, 02/01/2034			220		222,013
CBRE Services, Inc. 4.90%, 01/15/2033			82		80,991
5.50%, 04/01/2029			643		658,345
5.95%, 08/15/2034			656		682,939
CTP NV 3.625%, 04/13/2032^(a)	EUR		195		214,682
Digital Dutch Finco BV 1.00%, 01/15/2032^(a)			2,115		2,042,378
1.25%, 02/01/2031^(a)			603		614,276
Digital Euro Finco LLC 1.125%, 04/09/2028^(a)			475		522,789
Digital Intrepid Holding BV 1.375%, 07/18/2032^(a)			6,858		6,665,503
Digital Stout Holding LLC 3.30%, 07/19/2029^(a)	GBP		100		123,911
Essential Properties LP 2.95%, 07/15/2031	U.S.$		260		234,342
GLP Capital LP/GLP Financing II, Inc. 4.00%, 01/15/2031			9,361		8,852,773
5.625%, 03/01/2036			401		389,989
5.75%, 06/01/2028			283		287,340
Highwoods Realty LP 5.35%, 01/15/2033			98		95,766
Host Hotels & Resorts LP 4.25%, 12/15/2028			532		525,605
Mercialys SA 4.00%, 06/04/2032^(a)	EUR		200		225,797
Newmark Group, Inc. 7.50%, 01/12/2029	U.S.$		152		159,402
Praemia Healthcare SACA 1.375%, 09/17/2030^(a)	EUR		100		102,035
Prologis International Funding II SA Series E 1.625%, 06/17/2032^(a)			1,949		1,959,157
Public Storage Operating Co. 3.50%, 01/20/2034			575		636,648
Realty Income Corp. 1.75%, 07/13/2033	GBP		100		101,986
3.375%, 06/20/2031	EUR		423		476,165
4.75%, 04/15/2033	U.S.$		57		56,173
Regency Centers LP 4.50%, 03/15/2033			80		78,001
Swire Properties MTN Financing Ltd. Series E 3.40%, 09/03/2029^(a)	CNH		40,000		5,997,530



20 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Trust Fibra Uno 4.87%, 01/15/2030^(a)	U.S.$		2,410	$	2,308,905
Trust 2401 4.87%, 01/15/2030^(a)			593		568,386
Unibail-Rodamco-Westfield SE Series E 1.875%, 01/15/2031^(a)	EUR		600		629,939
Vicinity Centres Trust Series E 1.125%, 11/07/2029^(a)			181		189,701
Welltower OP LLC 4.50%, 12/01/2034	GBP		100		121,041
Wharf REIC Finance BVI Ltd. Series E 2.875%, 05/07/2030^(a)	U.S.$		260		243,298
WP Carey, Inc. 3.75%, 05/10/2035	EUR		455		491,945
4.25%, 07/23/2032			171		197,849
4.65%, 07/15/2030	U.S.$		274		272,247

					38,276,730

					761,779,422

Industrial – 10.9%
Basic – 1.0%
Air Products & Chemicals, Inc. Series E 0.80%, 05/05/2032	EUR		268		261,471
Anglo American Capital PLC 2.625%, 09/10/2030^(a)	U.S.$		320		292,220
2.875%, 03/17/2031^(a)			316		289,084
5.00%, 03/21/2033^(a)			18,871		18,582,686
5.25%, 03/19/2036^(a)			373		364,834
5.75%, 04/05/2034^(a)			200		205,308
AngloGold Ashanti Holdings PLC 3.375%, 11/01/2028			1,126		1,078,145
3.75%, 10/01/2030			208		198,569
BHP Billiton Finance Ltd. Series 17 1.50%, 04/29/2030^(a)	EUR		230		245,876
Series E 3.18%, 09/04/2031^(a)			360		406,025
Dow Chemical Co. (The) 5.55%, 11/30/2048	U.S.$		435		374,502
6.90%, 05/15/2053			67		68,356
7.375%, 11/01/2029			617		667,372
DuPont de Nemours, Inc. 5.42%, 11/15/2048			745		687,609
Freeport Indonesia PT 4.76%, 04/14/2027^(a)			320		319,322



ABFunds.com		AB Global Bond Fund 21

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

5.315%, 04/14/2032^(a)	U.S.$		204	$	203,007
Freeport-McMoRan, Inc. 4.25%, 03/01/2030			420		412,142
Fresnillo PLC 4.25%, 10/02/2050^(a)			240		180,600
Glencore Capital Finance DAC Series E 3.75%, 02/04/2032^(a)	EUR		16,025		18,282,077
4.15%, 04/29/2031^(a)			515		604,755
Glencore Funding LLC 2.85%, 04/27/2031^(a)	U.S.$		1,294		1,178,297
4.90%, 07/01/2031^(a)			663		662,618
5.20%, 07/01/2033^(a)			58		57,976
Gold Fields Orogen Holdings BVI Ltd. 6.125%, 05/15/2029^(a)			200		203,750
Industrias Penoles SAB de CV 4.75%, 08/06/2050^(a)			230		185,339
Inversiones CMPC SA 3.00%, 04/06/2031^(a)			210		182,437
Ma’aden Sukuk Ltd. 5.50%, 02/13/2035^(a)			262		261,579
Marcobre SAC 5.75%, 01/22/2036^(a)			204		197,554
MEGlobal BV 2.625%, 04/28/2028^(a)			260		244,319
Mondi Finance PLC Series E 3.75%, 05/31/2032^(a)	EUR		231		262,374
3.75%, 05/18/2033^(a)			353		395,172
Newmont Corp./Newcrest Finance Pty Ltd. 5.35%, 03/15/2034	U.S.$		507		521,551
Nexa Resources SA 6.75%, 04/09/2034^(a)			230		239,958
OCP SA 6.10%, 04/30/2030^(a)			290		294,712
6.70%, 03/01/2036^(a)			240		246,900
7.50%, 05/02/2054^(a)			270		283,045
Orbia Advance Corp. SAB de CV 6.80%, 05/13/2030^(a)			10,689		10,409,750
7.50%, 05/13/2035^(a)			768		727,220
POSCO 5.75%, 01/17/2028^(a)			200		203,784
SKF AB 3.125%, 09/14/2028^(a)	EUR		170		196,079
SNF Group SACA 3.125%, 03/15/2027^(a)	U.S.$		1,664		1,664,000
5.63%, 03/31/2031^(a)			4,140		4,186,747



22 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Sociedad Quimica y Minera de Chile SA 5.50%, 09/10/2034^(a)	U.S.$		350	$	346,587
5.625%, 04/22/2056^(a)			305		297,261
6.50%, 11/07/2033^(a)			250		263,835
Steel Dynamics, Inc. 5.375%, 08/15/2034			675		680,929
Suzano Austria GmbH 3.125%, 01/15/2032			300		262,950
Vale Overseas Ltd. 6.00%, 02/25/2056^(a)			355		350,350
6.125%, 06/12/2033			200		207,857

					68,938,890

Capital Goods – 0.5%
3M Co. 3.05%, 04/15/2030			71		67,280
3.375%, 03/01/2029			170		165,261
4.80%, 03/15/2030			592		597,921
Series E 1.75%, 05/15/2030	EUR		597		641,466
Carrier Global Corp. 4.125%, 05/29/2028			147		172,154
Caterpillar, Inc. 1.90%, 03/12/2031	U.S.$		564		502,575
2.60%, 04/09/2030			718		673,551
4.75%, 05/15/2064			459		396,255
CNH Industrial Capital LLC 4.55%, 04/10/2028			664		664,198
CRH SMW Finance DAC 5.125%, 01/09/2030			673		684,554
Eaton Capital ULC 3.55%, 03/10/2034	EUR		3,236		3,665,923
GE Capital UK Funding Unlimited Co. Series E 5.875%, 01/18/2033	GBP		30		40,827
General Dynamics Corp. 3.625%, 04/01/2030	U.S.$		292		283,496
General Electric Co. 1.50%, 05/17/2029	EUR		228		249,299
Series E 4.125%, 09/19/2035^(a)			153
Series E 4.125%, 09/19/2035^(a)			153		179,628
Heraeus Finance GmbH 2.625%, 06/09/2027^(a)			100		113,536
Holcim Finance Luxembourg SA Series E 0.625%, 01/19/2033^(a)			457		423,754
Honeywell Aerospace, Inc. 4.60%, 03/16/2033^(a)	U.S.$		215		212,415



ABFunds.com		AB Global Bond Fund 23

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

5.85%, 03/16/2066^(a)	U.S.$		215	$	213,131
Howmet Aerospace, Inc. 3.75%, 03/03/2028			58		57,333
3.90%, 04/15/2029			58		57,204
John Deere Financial Ltd. 5.05%, 06/28/2029	AUD		12,710		8,661,776
Johnson Controls International PLC/Tyco Fire & Security Finance SCA 0.375%, 09/15/2027	EUR		100		110,986
3.00%, 09/15/2028			502		575,097
Lockheed Martin Corp. 4.45%, 05/15/2028	U.S.$		382		384,301
Metso Oyj Series E 0.875%, 05/26/2028^(a)	EUR		179		197,005
Parker-Hannifin Corp. 2.90%, 03/01/2030			8,422		9,498,482
3.25%, 06/14/2029	U.S.$		402		389,659
4.25%, 09/15/2027			680		679,887
RTX Corp. 2.15%, 05/18/2030	EUR		647		703,044
5.75%, 01/15/2029	U.S.$		600		622,340
Siemens Financieringsmaatschappij NV 3.625%, 02/24/2043^(a)	EUR		900		951,488
3.625%, 02/22/2044^(a)			100		105,200
Technip Energies NV 1.125%, 05/28/2028^(a)			200		218,630
Veralto Corp. 4.15%, 09/19/2031			530		621,859

					33,781,515

Communications - Media – 0.5%
Charter Communications Operating LLC/Charter Communications Operating Capital 5.75%, 04/01/2048	U.S.$		379		316,801
6.48%, 10/23/2045			710		653,989
Comcast Corp. 4.00%, 11/01/2049			820		594,706
4.95%, 10/15/2058			337		275,275
Cox Communications, Inc. 4.80%, 02/01/2035^(a)			296		269,190
5.80%, 12/15/2053^(a)			791		669,576
5.95%, 09/01/2054^(a)			230		200,224
Grupo Televisa SAB 5.00%, 05/13/2045			270		167,670
6.625%, 01/15/2040			350		280,875
8.50%, 03/11/2032			3,493		3,672,086
Informa PLC Series E 1.25%, 04/22/2028^(a)	EUR		244		269,193



24 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

3.375%, 06/09/2031^(a)	EUR		390	$	436,676
Meta Platforms, Inc. 4.45%, 08/15/2052	U.S.$		61		47,935
4.65%, 08/15/2062			1,601		1,238,957
5.50%, 11/15/2045			291		275,568
5.55%, 08/15/2064			406		364,649
5.60%, 05/15/2053			382		356,390
5.75%, 05/15/2063			700		649,634
5.75%, 11/15/2065			13,146		12,192,090
Omnicom Finance Holdings PLC Series E 1.40%, 07/08/2031	EUR		225		230,053
Omnicom Group, Inc. 4.20%, 03/02/2029	U.S.$		58		57,354
5.30%, 11/01/2034			549		543,301
Paramount Global 4.20%, 06/01/2029			97		92,668
4.375%, 03/15/2043			12		7,233
4.60%, 01/15/2045			417		249,076
4.90%, 08/15/2044			51		31,633
4.95%, 01/15/2031			589		543,931
4.95%, 05/19/2050			527		313,517
7.875%, 07/30/2030			172		179,518
Pinewood Finco PLC 6.00%, 03/27/2030^(a)	GBP		5,929		7,662,125
Prosus NV 3.68%, 01/21/2030^(a)	U.S.$		792		746,579
3.83%, 02/08/2051^(a)			1,120		720,407
4.99%, 01/19/2052^(a)			380		288,541
TDF Infrastructure SAS 5.625%, 07/21/2028^(a)	EUR		400		478,491
Tencent Holdings Ltd. 2.39%, 06/03/2030^(a)	U.S.$		510		475,218
2.88%, 04/22/2031^(a)			200		187,387
Time Warner Cable Enterprises LLC 8.375%, 07/15/2033			360		407,929
Time Warner Cable LLC 5.25%, 07/15/2042	GBP		100		106,797
5.50%, 09/01/2041	U.S.$		150		129,083
6.75%, 06/15/2039			355		352,233

					36,734,558

Communications - Telecommunications – 0.6%
America Movil SAB de CV 6.125%, 11/15/2037			200		210,300
6.125%, 03/30/2040			300		313,017
AT&T, Inc. 3.15%, 09/04/2036	EUR		326		343,909



ABFunds.com		AB Global Bond Fund 25

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.60%, 09/19/2028^(a)	AUD		6,050	$	4,094,295
Axiata SPV2 Bhd Series E 2.16%, 08/19/2030^(a)	U.S.$		200		180,556
Bell Telephone Co. of Canada or Bell Canada 5.85%, 11/10/2032	CAD		10,096		7,876,924
British Telecommunications PLC Series E 3.375%, 08/30/2032^(a)	EUR		307		345,084
Global Switch Holdings Ltd. Series E 2.25%, 05/31/2027^(a)			356		405,560
Ooredoo International Finance Ltd. 2.625%, 04/08/2031^(a)	U.S.$		420		379,688
Orange SA 4.50%, 12/15/2030^(a)^(b)	EUR		200		231,521
9.00%, 03/01/2031^(d)	U.S.$		572		676,012
PLDT, Inc. 2.50%, 01/23/2031^(a)			200		181,590
SingTel Group Treasury Pte. Ltd. Series E 2.375%, 08/28/2029^(a)			290		272,980
Telefonica Emisiones SA Series E 4.055%, 01/24/2036^(a)	EUR		300		337,431
TELUS Corp. 4.95%, 02/18/2031	CAD		762		570,421
7.00%, 10/15/2055	U.S.$		303		307,580
Series CAG 5.25%, 11/15/2032	CAD		10,638		8,049,505
Verizon Communications, Inc. 0.75%, 03/22/2032	EUR		344		334,478
3.00%, 03/23/2031	AUD		2,380		1,443,637
3.50%, 06/28/2032	EUR		100		113,709
4.25%, 08/15/2056			7,749		8,646,855
4.50%, 08/17/2027^(a)	AUD		4,430		3,025,187
4.67%, 03/15/2055	U.S.$		341		277,580
6.00%, 11/30/2065			56		54,326
Vodafone Group PLC Series E 6.375%, 07/03/2050^(a)	GBP		100		126,987
Xiaomi Best Time International Ltd. 3.375%, 04/29/2030^(a)	U.S.$		210		200,113

					38,999,245

Consumer Cyclical - Automotive – 0.9%
American Honda Finance Corp. 3.50%, 06/27/2031	EUR		349		394,042



26 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.15%, 01/08/2029	U.S.$		533	$	526,290
5.10%, 01/08/2036			58		55,960
Series E 1.50%, 10/19/2027	GBP		100		125,281
3.65%, 04/23/2031	EUR		528		599,540
Aptiv Swiss Holdings Ltd. 4.25%, 06/11/2036			256		287,219
BMW US Capital LLC 4.30%, 03/17/2028^(a)	U.S.$		58		57,913
4.40%, 03/19/2029^(a)			58		57,858
4.65%, 03/19/2031^(a)			58		57,578
5.00%, 03/19/2033^(a)			58		57,316
BorgWarner, Inc. 1.00%, 05/19/2031	EUR		640		642,112
Ford Motor Credit Co. LLC 4.87%, 08/03/2027			557		651,710
4.97%, 04/06/2029	U.S.$		511		504,666
5.11%, 05/03/2029			1,085		1,075,350
5.42%, 04/09/2031			4,332		4,252,256
5.87%, 10/31/2035^(d)			536		515,138
6.80%, 05/12/2028			200		206,037
7.35%, 03/06/2030			4,309		4,546,571
Series E 3.305%, 05/17/2029	EUR		2,676		3,015,595
General Motors Financial Co., Inc. 2.40%, 04/10/2028	U.S.$		1,120		1,074,036
4.90%, 10/06/2029			2,587		2,599,409
5.45%, 01/08/2036			74		72,895
5.55%, 07/15/2029			4,741		4,852,833
Hyundai Capital America 2.375%, 10/15/2027^(a)			300		290,194
4.25%, 01/08/2029^(a)			297		293,816
4.50%, 09/18/2030^(a)			4,746		4,668,831
4.75%, 04/06/2029^(a)			3,805		3,802,336
4.875%, 11/01/2027^(a)			167		167,717
5.00%, 04/07/2031^(a)			56		56,018
5.25%, 01/08/2027^(a)			4,163		4,186,866
5.68%, 06/26/2028^(a)			6,331		6,462,408
6.10%, 09/21/2028^(a)			59		60,943
6.50%, 01/16/2029^(a)			147		153,598
Hyundai Capital Services, Inc. 5.125%, 02/05/2029^(a)			320		325,066
Lear Corp. 3.80%, 09/15/2027			686		679,703
Mercedes-Benz Finance North America LLC 4.125%, 03/10/2028^(a)			432		429,939
Stellantis NV Series E 3.50%, 09/19/2030^(a)	EUR		378		419,187



ABFunds.com		AB Global Bond Fund 27

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.25%, 06/16/2031^(a)	EUR		500	$	564,537
4.375%, 03/14/2030^(a)			184		213,023
Toyota Finance Australia Ltd. 4.65%, 09/17/2029	AUD		12,010		8,074,649
Traton Finance Luxembourg SA Series E 2.875%, 08/26/2028^(a)	EUR		100		113,164
Volkswagen Financial Services AG 3.625%, 05/19/2029^(a)			300		345,210
VW Credit Canada, Inc. 3.81%, 11/19/2030	CAD		350		249,145

					57,783,955

Consumer Cyclical - Entertainment – 0.1%
CPUK Finance Ltd. 5.88%, 08/28/2027^(a)	GBP		100		133,259
6.14%, 08/28/2031^(a)			100		134,398
Hasbro, Inc. 4.65%, 03/12/2031	U.S.$		2,876		2,843,054
Polaris, Inc. 5.60%, 03/01/2031			4,299		4,261,251
Universal Music Group NV Series E 4.00%, 06/13/2031^(a)	EUR		342		398,995

					7,770,957

Consumer Cyclical - Other – 0.3%
Flutter Treasury DAC 4.00%, 06/04/2031^(a)			4,913		5,489,250
5.875%, 06/04/2031^(a)	U.S.$		414		408,168
6.125%, 06/04/2031^(a)	GBP		2,882		3,693,472
Gohl Capital Ltd. 4.25%, 01/24/2027^(a)	U.S.$		290		287,201
HOCHTIEF AG Series E 0.50%, 09/03/2027^(a)	EUR		129		143,040
IHG Finance LLC Series E 3.625%, 09/27/2031^(a)			202		228,990
4.375%, 11/28/2029^(a)			343		404,258
Imerys SA Series E 1.875%, 03/31/2028^(a)			200		223,730
JH North America Holdings, Inc. 6.125%, 07/31/2032^(a)	U.S.$		65		64,911
Kingspan Securities Ireland DAC Series E 3.50%, 10/31/2031^(a)	EUR		132		149,296
Las Vegas Sands Corp. 3.90%, 08/08/2029	U.S.$		410		395,558



28 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

5.90%, 06/01/2027	U.S.$		281	$	284,710
Marriott International, Inc./MD 5.00%, 10/15/2027			232		234,118
5.10%, 05/01/2038			332		315,521
Sands China Ltd. 2.85%, 03/08/2029^(d)			277		260,758
3.25%, 08/08/2031^(d)			450		406,395
4.375%, 06/18/2030^(d)			499		481,011
Sekisui House US, Inc. 6.00%, 01/15/2043			5,527		5,042,791

					18,513,178

Consumer Cyclical - Restaurants – 0.1%
1011778 BC ULC/New Red Finance, Inc. 3.875%, 01/15/2028^(a)			5,208		5,096,944


Consumer Cyclical - Retailers – 0.1%
CK Hutchison International 21 Ltd. 2.50%, 04/15/2031^(a)			460		417,792
Dollar General Corp. 3.50%, 04/03/2030			416		396,265
Dollarama, Inc. 5.53%, 09/26/2028	CAD		231		173,688
El Puerto de Liverpool SAB de CV 6.66%, 01/22/2037^(a)	U.S.$		200		204,408
Genuine Parts Co. 4.95%, 08/15/2029			680		677,486
Lowe’s Cos., Inc. 1.70%, 09/15/2028			734		689,815
Pandora A/S Series E 4.50%, 04/10/2028^(a)	EUR		350		410,741
Ralph Lauren Corp. 2.95%, 06/15/2030	U.S.$		564		531,346
Tapestry, Inc. 5.50%, 03/11/2035			660		662,051
Walmart, Inc. 4.50%, 09/09/2052			115		99,399

					4,262,991

Consumer Non-Cyclical – 1.8%
Abbott Laboratories 4.65%, 03/15/2036			59		57,643
4.75%, 03/15/2038			59		57,224
AbbVie, Inc. 3.775%, 03/03/2028			59		58,592
5.65%, 03/15/2066			109		106,103
Altria Group, Inc. 2.45%, 02/04/2032			746		654,621



ABFunds.com		AB Global Bond Fund 29

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

3.125%, 06/15/2031	EUR		7,556	$	8,465,996
5.625%, 02/06/2035	U.S.$		500		512,044
5.80%, 02/14/2039			104		104,440
5.95%, 02/14/2049			670		649,501
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. 4.90%, 02/01/2046			746		672,613
Anheuser-Busch InBev Finance, Inc. 4.90%, 02/01/2046			703		633,852
Anheuser-Busch InBev SA/NV Series E 1.65%, 03/28/2031^(a)	EUR		690		729,422
3.70%, 04/02/2040^(a)			288		311,973
Asahi Group Holdings Ltd. 0.34%, 04/19/2027^(a)			337		378,837
Astrazeneca Finance LLC 4.00%, 03/02/2031	U.S.$		379		372,462
BAT International Finance PLC Series E 2.25%, 01/16/2030^(a)	EUR		143		156,959
4.125%, 04/12/2032^(a)			11,373		13,202,253
6.00%, 11/24/2034^(a)	GBP		79		104,696
BAT Netherlands Finance BV Series E 5.375%, 02/16/2031^(a)	EUR		300		370,683
Baxter International, Inc. 1.30%, 05/15/2029			210		223,990
1.73%, 04/01/2031	U.S.$		811		678,532
1.915%, 02/01/2027			239		233,540
2.54%, 02/01/2032			800		673,828
Bayer AG 1.125%, 01/06/2030^(a)	EUR		100		104,971
Series EMTF 1.375%, 07/06/2032^(a)			600		594,625
Bimbo Bakeries USA, Inc. 5.375%, 01/09/2036^(a)	U.S.$		200		198,731
Biogen, Inc. 2.25%, 05/01/2030			517		471,922
5.20%, 09/15/2045			337		303,578
6.45%, 05/15/2055			645		669,572
BMS Ireland Capital Funding DAC 4.58%, 11/10/2055	EUR		130		145,937
Bristol-Myers Squibb Co. 4.35%, 11/15/2047	U.S.$		705		580,781
4.55%, 02/20/2048			785		663,639
4.625%, 05/15/2044			10		8,773
5.55%, 02/22/2054			684		658,505



30 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

British American Tobacco PLC Series NC8 3.75%, 06/27/2029^(a)(b)	EUR		477	$	537,820
Bunge Ltd. Finance Corp. 4.80%, 03/19/2033	U.S.$		56		55,282
5.15%, 03/19/2036			56		55,232
Cardinal Health, Inc. 3.41%, 06/15/2027			686		678,009
Cargill, Inc. 3.875%, 04/24/2030^(a)	EUR		199		232,984
Cencora, Inc. 2.70%, 03/15/2031	U.S.$		63		57,450
2.80%, 05/15/2030			725		675,886
3.95%, 02/13/2029			58		57,192
4.25%, 11/15/2030			58		56,938
4.625%, 12/15/2027			625		627,408
Cencosud SA 4.375%, 07/17/2027^(a)			230		228,694
Cia Cervecerias Unidas SA 3.35%, 01/19/2032^(a)			200		178,426
Coca-Cola Co. (The) 1.25%, 03/08/2031	EUR		526		550,469
CommonSpirit Health 3.35%, 10/01/2029	U.S.$		481		460,844
4.35%, 09/01/2030			3,816		3,762,271
5.32%, 12/01/2034			6,313		6,329,615
DH Europe Finance II SARL 2.60%, 11/15/2029			306		288,157
Electrolux AB Series E 4.50%, 09/29/2028^(a)	EUR		389		457,527
Eli Lilly & Co. 4.95%, 02/27/2063	U.S.$		10		8,768
5.10%, 02/09/2064			893		802,258
5.20%, 08/14/2064			734		669,258
5.60%, 02/12/2065			645		631,174
5.65%, 10/15/2065			44		43,233
Flowers Foods, Inc. 5.75%, 03/15/2035			207		197,479
General Mills, Inc. 3.60%, 04/17/2032	EUR		13,835		15,735,943
Gilead Sciences, Inc. 5.50%, 11/15/2054	U.S.$		689		667,786
GlaxoSmithKline Capital PLC Series E 1.75%, 05/21/2030^(a)	EUR		254		274,796
Haleon US Capital LLC 3.375%, 03/24/2029	U.S.$		420		408,452



ABFunds.com		AB Global Bond Fund 31

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

HCA, Inc. 3.50%, 09/01/2030	U.S.$		559	$	530,804
4.30%, 11/15/2030			128		125,862
Heineken NV 3.50%, 01/29/2028^(a)			698		687,204
Imperial Brands Finance PLC Series E 3.875%, 02/12/2034^(a)	EUR		5,564		6,204,889
Indofood CBP Sukses Makmur Tbk PT 3.40%, 06/09/2031^(a)	U.S.$		490		450,187
J M Smucker Co. (The) 3.375%, 12/15/2027			699		687,179
Johnson & Johnson 3.20%, 06/01/2032	EUR		272		311,973
JT International Financial Services BV Series E 2.75%, 09/28/2033^(a)	GBP		100		109,321
4.125%, 06/17/2035^(a)	EUR		152		173,884
Keurig Dr. Pepper, Inc. 5.05%, 03/15/2029	U.S.$		383		387,025
Koninklijke Philips NV Series E 3.75%, 05/31/2032^(a)	EUR		228		262,618
Loblaw Cos. Ltd. 6.54%, 02/17/2033^(a)	CAD		3,182		2,580,379
Louis Dreyfus Co. Finance BV 3.50%, 10/22/2031^(a)	EUR		159		178,297
Maple Parent Holdings Corp. 3.88%, 03/26/2030^(a)			4,508		5,183,875
Mars, Inc. 3.20%, 04/01/2030^(a)	U.S.$		708		675,739
McKesson Corp. 4.65%, 05/30/2030			391		393,367
Medtronic, Inc. 4.20%, 10/15/2045	EUR		100		110,345
Merck & Co., Inc. 4.75%, 12/04/2035	U.S.$		58		56,923
4.90%, 05/17/2044			14		12,836
5.00%, 05/17/2053			617		555,929
5.15%, 05/17/2063			744		666,857
5.50%, 03/15/2046			58		56,871
5.55%, 12/04/2055			58		56,292
5.70%, 09/15/2055			556		552,009
5.70%, 12/04/2065			214		208,102
Molson Coors Beverage Co. 3.80%, 06/15/2032	EUR		773		888,477
5.00%, 05/01/2042	U.S.$		432		388,207



32 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Mylan, Inc. 4.55%, 04/15/2028	U.S.$		181	$	179,998
5.40%, 11/29/2043			368		311,346
Nestle Capital Corp. 4.20%, 03/18/2031^(a)			151		149,960
4.50%, 03/18/2033^(a)			151		149,501
4.80%, 03/18/2036^(a)			151		149,958
Nestle Finance International Ltd. Series E 1.75%, 11/02/2037^(a)	EUR		441		409,827
2.80%, 05/29/2035^(a)	CNH		34,880		5,103,224
Novartis Capital Corp. 2.20%, 08/14/2030	U.S.$		484		443,310
4.10%, 03/16/2029			589		588,413
4.10%, 11/05/2030			167		165,081
4.40%, 03/18/2031			288		287,971
4.40%, 05/06/2044			585		512,417
4.60%, 03/18/2033			58		57,758
5.60%, 03/18/2046			58		58,095
5.70%, 03/18/2056			58		58,370
Pfizer Investment Enterprises Pte. Ltd. 5.30%, 05/19/2053			37		34,319
Pfizer, Inc. 5.70%, 11/15/2065			56		54,060
Philip Morris International, Inc. 1.75%, 11/01/2030			734		649,963
4.375%, 04/30/2030			304		302,539
5.625%, 11/17/2029			32		33,277
5.625%, 09/07/2033			267		278,535
6.375%, 05/16/2038			97		105,853
Royalty Pharma PLC 1.75%, 09/02/2027			707		681,170
Saputo, Inc. 5.49%, 11/20/2030	CAD		20,702		15,874,124
Sudzucker International Finance BV 4.125%, 01/29/2032^(a)	EUR		353		407,151
Sutter Health Series 20A 2.29%, 08/15/2030	U.S.$
Sutter Health Series 20A 2.29%, 08/15/2030	U.S.$		189		172,286
Sysco Corp. 4.40%, 07/25/2031			227		220,055
4.95%, 03/25/2036			58		55,324
5.10%, 09/23/2030			299		301,362
Takeda Pharmaceutical Co., Ltd. 2.05%, 03/31/2030			612		556,119
5.00%, 11/26/2028			682		690,558
Utah Acquisition Sub, Inc. 5.25%, 06/15/2046			393		315,761



ABFunds.com		AB Global Bond Fund 33

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Viatris, Inc. 2.70%, 06/22/2030	U.S.$		760	$	688,492

					121,081,817

Energy – 2.6%
Acciona Energia Financiacion Filiales SA Series E 5.125%, 04/23/2031^(a)	EUR		500		604,255
Adnoc Murban Rsc Ltd. 5.125%, 09/11/2054^(a)	U.S.$		200		171,476
Aker BP ASA Series E 1.125%, 05/12/2029^(a)	EUR		601		643,315
Antero Midstream Partners LP/Antero Midstream Finance Corp. 5.375%, 06/15/2029^(a)	U.S.$		303		302,035
APA Infrastructure Ltd. Series E 2.00%, 07/15/2030^(a)	EUR		352		379,675
Baker Hughes Holdings LLC 5.125%, 09/15/2040	U.S.$		717		686,531
Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc. 3.23%, 03/11/2030	EUR		4,031		4,613,546
4.35%, 06/15/2031	U.S.$		4,685		4,624,704
4.49%, 05/01/2030			163		163,216
Boardwalk Pipelines LP 4.80%, 05/03/2029			665		668,115
BP Capital Markets PLC 3.25%, 04/10/2026^(a)(b)	EUR		3,699		4,271,398
3.625%, 03/22/2029^(a)(b)			8,895		10,135,548
4.25%, 03/22/2027^(a)(b)	GBP		486		633,942
4.75%, 08/28/2029^(a)	AUD		9,360		6,326,105
Series E 1.23%, 05/08/2031^(a)	EUR		330		338,307
Canadian Natural Resources Ltd. 3.85%, 06/01/2027	U.S.$		140		139,191
6.25%, 03/15/2038			634		666,970
Cheniere Energy, Inc. 5.20%, 07/30/2036^(a)			1,507		1,490,364
Colonial Enterprises, Inc. 5.63%, 11/15/2035^(a)			208		207,858
ConocoPhillips Co. 4.025%, 03/15/2062			210		151,238
4.70%, 01/15/2030			393		396,620
5.30%, 05/15/2053			346		320,082
5.65%, 01/15/2065			773		736,643
Continental Resources, Inc./OK 2.875%, 04/01/2032^(a)			14,445		12,618,299



34 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.375%, 01/15/2028	U.S.$		204	$	202,453
Enbridge Energy Partners LP 7.375%, 10/15/2045			579		661,645
Enbridge, Inc. 4.85%, 03/27/2031			58		58,222
5.45%, 03/27/2036			58		58,550
6.10%, 11/09/2032	CAD		16,978		13,448,951
Eni SpA 4.25%, 05/09/2029^(a)	U.S.$		251		249,572
Series E 1.625%, 05/17/2028^(a)	EUR		367		410,410
Enterprise Products Operating LLC 5.20%, 01/15/2036	U.S.$		66		66,353
5.375%, 02/15/2078			692		683,825
Series E 5.25%, 08/16/2077			96		95,145
EOG Resources, Inc. 4.95%, 04/15/2050			280		247,292
5.65%, 12/01/2054			199		193,812
5.95%, 07/15/2055			296		300,311
EQT Corp. 4.50%, 01/15/2029			2,279		2,272,445
7.50%, 06/01/2030			260		283,068
Halliburton Co. 4.75%, 08/01/2043			16		13,987
5.00%, 11/15/2045			752		666,707
6.70%, 09/15/2038			624		684,667
7.45%, 09/15/2039			51		59,624
Hanwha Energy USA Holdings Corp. 4.375%, 07/02/2028^(a)			250		250,213
Harbour Energy PLC 6.33%, 04/01/2035^(a)			149		152,402
Hess Corp. 7.125%, 03/15/2033			233		265,553
MPLX LP 5.30%, 04/01/2036			10,542		10,394,456
ONEOK Partners LP 6.65%, 10/01/2036			5,550		5,973,440
ONEOK, Inc. 4.25%, 09/24/2027			688		686,298
5.40%, 10/15/2035			8,912		8,856,045
5.625%, 01/15/2028^(a)			668		676,466
ORLEN SA 6.00%, 01/30/2035^(a)			380		387,125
Ovintiv, Inc. 7.375%, 11/01/2031			461		510,223
Pluspetrol Camisea SA/Pluspetrol Lote 56 SA 6.24%, 07/03/2036^(a)			230		238,338



ABFunds.com		AB Global Bond Fund 35

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Qatarenergy LNG S3 5.84%, 09/30/2027^(a)	U.S.$		142	$	142,091
Reliance Industries Ltd. 3.625%, 01/12/2052^(a)			300		211,233
Saudi Arabian Oil Co. 2.25%, 11/24/2030^(a)			1,100		970,475
3.25%, 11/24/2050^(a)			410		255,241
4.25%, 04/16/2039^(a)			330		284,503
5.75%, 07/17/2054^(a)			242		221,672
5.875%, 07/17/2064^(a)			280		254,433
Schlumberger Holdings Corp. 3.90%, 05/17/2028^(a)			539		534,704
Shell Finance US, Inc. 4.375%, 05/11/2045			797		677,476
4.75%, 01/06/2036			57		56,006
5.50%, 03/25/2040^(a)			380		383,547
Suncor Energy, Inc. 4.34%, 09/13/2046	CAD		474		300,914
6.85%, 06/01/2039	U.S.$		610		667,438
Targa Resources Corp. 4.35%, 01/15/2029			348		346,478
4.35%, 04/15/2031			5,672		5,553,501
5.20%, 07/01/2027			215		216,779
5.55%, 08/15/2035			302		304,622
5.65%, 02/15/2036			9,940		10,078,045
Targa Resources Partners LP/Targa Resources Partners Finance Corp. 5.50%, 03/01/2030			684		690,800
Tengizchevroil Finance Co. International Ltd. 3.25%, 08/15/2030^(a)			280		258,440
Tennessee Gas Pipeline Co. LLC 2.90%, 03/01/2030^(a)			250		234,430
Terega SASU 0.625%, 02/27/2028^(a)	EUR		100		109,420
TotalEnergies Capital International SA Series E 1.99%, 04/08/2032^(a)			300		317,664
3.50%, 03/03/2037^(a)			100		109,524
TotalEnergies Capital SA 5.425%, 09/10/2064	U.S.$		671		622,484
TotalEnergies Capital USA LLC 4.86%, 01/13/2036			320		315,009
TotalEnergies SE 2.00%, 01/17/2027^(a)(b)	EUR		11,880		13,528,327
2.00%, 06/04/2030^(a)(b)			396		416,979
4.12%, 11/19/2029^(a)(b)			548		629,976
Series NC7 1.625%, 10/25/2027^(a)(b)			1,650		1,838,461



36 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

TransCanada PipeLines Ltd. 5.33%, 05/12/2032	CAD		227	$	173,112
Transportadora de Gas Internacional SA ESP 5.55%, 11/01/2028^(a)	U.S.$		200		199,626
Var Energi ASA 6.50%, 05/22/2035^(a)			3,927		4,145,267
7.50%, 01/15/2028^(a)			6,774		7,078,104
Series E 5.50%, 05/04/2029^(a)	EUR		191		230,786
Williams Cos., Inc. (The) 2.60%, 03/15/2031	U.S.$		757		685,154
4.85%, 03/01/2048			626		535,358
5.65%, 03/15/2033			1,348		1,394,463
Wintershall Dea Finance BV 1.82%, 09/25/2031^(a)	EUR		12,200		12,423,282
Woodside Finance Ltd. 4.50%, 03/04/2029^(a)	U.S.$		691		688,121
5.40%, 05/19/2030			75		76,590
5.70%, 09/12/2054			728		680,899
6.00%, 05/19/2035			6,467		6,720,671

					175,899,136

Other Industrial – 0.0%
Alfa Desarrollo SpA 4.55%, 09/27/2051^(a)			304		231,700
CITIC Ltd. Series E 2.85%, 02/25/2030^(a)			250		236,125
Ferguson Finance PLC 3.25%, 06/02/2030^(a)			305		287,157
LKQ Corp. 5.75%, 06/15/2028			384		390,875
LKQ Dutch Bond BV 4.125%, 03/13/2031	EUR		539		616,600

					1,762,457

Services – 0.7%
Alibaba Group Holding Ltd. 2.125%, 02/09/2031	U.S.$		430		388,961
2.80%, 11/28/2029^(a)	CNH		97,910		14,524,591
5.25%, 05/26/2035	U.S.$		200		205,609
Amazon.com, Inc. 2.70%, 06/03/2060			673		366,734
3.25%, 05/12/2061			153		94,644
4.10%, 04/13/2062			885		657,793
4.25%, 08/22/2057			843		656,133
4.65%, 11/20/2035			58		56,795
5.45%, 11/20/2055			695		664,107
5.55%, 11/20/2065			448		422,353



ABFunds.com		AB Global Bond Fund 37

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

6.05%, 03/13/2076	U.S.$		3,497	$	3,475,697
Booking Holdings, Inc. 3.75%, 03/01/2036	EUR		283		313,653
4.00%, 03/01/2044			156		161,639
4.50%, 11/15/2031			3,382		4,063,830
4.75%, 11/15/2034			241		291,673
Global Payments, Inc. 4.50%, 11/15/2028	U.S.$		149		147,619
4.55%, 03/15/2028			3,273		3,258,824
4.875%, 11/15/2030			2,928		2,874,021
4.875%, 03/17/2031	EUR		8,466		9,982,339
Meituan 4.50%, 04/02/2028^(a)	U.S.$		200		199,727
4.50%, 05/05/2031^(a)			260		252,829
MercadoLibre, Inc. 4.90%, 01/15/2033			350		337,781
S&P Global, Inc. 4.25%, 01/15/2031^(a)			214		211,298

					43,608,650

Technology – 1.1%
Adobe, Inc. 2.30%, 02/01/2030	U.S.$		743		686,960
Alphabet, Inc. 4.40%, 02/15/2033			58		57,257
4.625%, 11/13/2032	GBP		7,279		9,363,924
5.25%, 05/15/2055	U.S.$		501		472,796
5.30%, 05/15/2065			1,148		1,057,594
5.45%, 11/15/2055			119		115,103
5.50%, 02/15/2046			58		57,536
5.65%, 02/15/2056			309		307,770
5.70%, 11/15/2075			7,096		6,871,747
Apple, Inc. 2.55%, 08/20/2060			1,215		649,895
2.85%, 08/05/2061			610		352,812
Baidu, Inc. 2.375%, 08/23/2031			320		287,530
2.70%, 03/12/2030^(a)	CNH		47,140		6,969,156
3.00%, 03/12/2035^(a)			46,220		6,842,110
Broadcom, Inc. 4.15%, 04/15/2032^(a)	U.S.$		377		364,825
4.20%, 10/15/2030			278		274,836
4.30%, 01/15/2031			251		248,914
Broadridge Financial Solutions, Inc. 2.60%, 05/01/2031			758		674,786
CDW LLC/CDW Finance Corp. 3.25%, 02/15/2029			436		415,131
Cisco Systems, Inc. 5.35%, 02/26/2064			415		383,164



38 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Constellation Software, Inc./Canada 5.16%, 02/16/2029^(a)	U.S.$		83	$	83,358
5.46%, 02/16/2034^(a)			672		658,453
Fidelity National Information Services, Inc. 3.45%, 03/10/2030	EUR		2,789		3,186,335
4.45%, 03/10/2028	U.S.$		115		114,665
Fiserv, Inc. 4.50%, 05/24/2031	EUR		555		650,667
Foxconn Far East Ltd. Series E 2.50%, 10/28/2030^(a)	U.S.$		200		183,113
Gartner, Inc. 3.625%, 06/15/2029^(a)			722		677,995
4.50%, 07/01/2028^(a)			694		682,039
Hewlett Packard Enterprise Co. 4.50%, 03/23/2028			58		58,006
4.60%, 03/23/2029			58		57,916
International Business Machines Corp. 4.00%, 02/03/2029			375		371,134
Intuit, Inc. 5.50%, 09/15/2053			316		290,642
Lenovo Group Ltd. 3.42%, 11/02/2030^(a)			448		422,410
Microsoft Corp. 2.675%, 06/01/2060			913		509,380
Open Text Corp. 6.90%, 12/01/2027^(a)			653		670,368
Oracle Corp. 2.30%, 03/25/2028			257		244,920
2.80%, 04/01/2027			542		532,745
3.25%, 11/15/2027			495		483,050
4.10%, 03/25/2061			362		223,399
4.375%, 05/15/2055			400		264,395
4.50%, 07/08/2044			39		28,770
4.80%, 08/03/2028			644		644,245
4.80%, 09/26/2032			515		490,023
5.25%, 02/03/2032			34		33,427
5.95%, 09/26/2055			115		96,689
6.00%, 08/03/2055			379		317,770
6.10%, 09/26/2065			57		47,245
6.125%, 08/03/2065			247		204,496
6.90%, 11/09/2052			455		429,954
Salesforce, Inc. 1.95%, 07/15/2031			80		69,779
2.70%, 07/15/2041			678		462,260
3.05%, 07/15/2061			1,230		685,420
4.50%, 03/15/2028			55		55,016
4.65%, 03/15/2029			55		55,103



ABFunds.com		AB Global Bond Fund 39

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.90%, 09/15/2031	U.S.$		9,825	$	9,811,669
5.20%, 03/15/2033			9,825		9,807,588
5.55%, 03/15/2036			55		54,834
6.70%, 03/15/2066			306		310,700
SK hynix, Inc. 6.50%, 01/17/2033^(a)			210		228,927
Teleperformance SE Series E 4.25%, 01/21/2030^(a)	EUR		200		229,102
TSMC Global Ltd. 1.375%, 09/28/2030^(a)	U.S.$		540		475,448
2.25%, 04/23/2031^(a)			790		713,583

					72,070,884

Transportation - Airlines – 0.0%
AS Mileage Plan IP Ltd. 5.31%, 10/20/2031^(a)			173		169,417
Delta Air Lines, Inc. 5.25%, 07/10/2030			628		632,806
Delta Air Lines, Inc./SkyMiles IP Ltd. 4.75%, 10/20/2028^(a)			681		679,896
Southwest Airlines Co. 4.375%, 11/15/2028			107		105,636
United Airlines 2020-1 Class A Pass Through Trust Series 20-1 5.875%, 10/15/2027			382		387,762

					1,975,517

Transportation - Railroads – 0.3%
Canadian National Railway Co. 3.60%, 08/01/2047	CAD		355		209,144
CSX Corp. 4.75%, 11/15/2048	U.S.$		776		673,678
East Japan Railway Co. Series E 3.98%, 09/05/2032^(a)	EUR		100		118,209
Guangzhou Metro Investment Finance BVI Ltd. Series E 2.15%, 08/19/2028^(a)	CNH		13,520		1,956,593
2.15%, 09/04/2028^(a)			91,460		13,235,285
Lima Metro Line 2 Finance Ltd. 4.35%, 04/05/2036^(a)	U.S.$		360		340,620
5.875%, 07/05/2034^(a)			212		216,640
MTR Corp., Ltd. Series E 3.05%, 09/20/2054^(a)	CNH		40,000		5,975,449
Union Pacific Corp. 4.95%, 05/15/2053	U.S.$		315		280,734

					23,006,352



40 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Transportation - Services – 0.3%
Adani Ports & Special Economic Zone Ltd. 3.10%, 02/02/2031^(a)	U.S.$		520	$	453,960
3.83%, 02/02/2032^(a)			290		255,502
4.375%, 07/03/2029^(a)			200		191,000
AP Moller - Maersk A/S Series E 4.125%, 03/05/2036^(a)	EUR		570		659,866
East Japan Railway Co. Series E 4.11%, 02/22/2043^(a)			321		354,788
ENA Master Trust 4.00%, 05/19/2048^(a)	U.S.$		490		385,684
Fedex Freight Holding Co., Inc. 4.30%, 03/15/2029^(a)			58		57,299
4.65%, 03/15/2031^(a)			58		56,985
Heathrow Funding Ltd. 6.45%, 12/10/2031^(a)	GBP		10,387		14,301,001
Series E 3.875%, 01/16/2036^(a)	EUR		392		437,631
4.50%, 07/11/2033^(a)			100		117,757
Motability Operations Group PLC Series E 4.875%, 01/17/2043^(a)	GBP		100		110,392
Penske Truck Leasing Co. LP/PTL Finance Corp. 4.55%, 01/15/2031^(a)	U.S.$		58		57,324
Sats Treasury Pte. Ltd. Series G 4.83%, 01/23/2029^(a)			200		201,946
Sydney Airport Finance Co. Pty Ltd. 5.25%, 03/26/2036^(a)			213		211,243

					17,852,378

					729,139,424

Utility – 3.2%
Electric – 2.2%
Abu Dhabi National Energy Co. PJSC 4.75%, 03/09/2037^(a)			200		187,504
Adani Electricity Mumbai Ltd. 3.95%, 02/12/2030^(a)			680		621,180
Adani Transmission Step-One Ltd. 4.00%, 08/03/2026^(a)			8,086		8,045,570
AEP Transmission Co. LLC 5.40%, 03/15/2053			339		320,334
AES Andes SA 6.25%, 03/14/2032^(a)			200		204,800
6.30%, 03/15/2029^(a)			200		204,375
AES Panama Generation Holdings SRL 4.375%, 05/31/2030^(a)			607		562,941



ABFunds.com		AB Global Bond Fund 41

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Alexander Funding Trust II 7.47%, 07/31/2028^(a)	U.S.$		2,863	$	3,014,212
American Electric Power Co., Inc. 6.95%, 12/15/2054			119		125,815
CenterPoint Energy Houston Electric LLC 4.95%, 04/01/2033			29		29,139
5.05%, 03/01/2035			319		318,225
Series AR 4.85%, 04/01/2036			204		199,951
Chile Electricity PEC SpA Zero Coupon, 01/25/2028^(a)			152		138,505
DTE Energy Co. 4.875%, 06/01/2028			246		248,268
Duke Energy Carolinas LLC 5.25%, 03/15/2035			397		403,910
Duke Energy Corp. 3.75%, 04/01/2031	EUR		9,657		11,140,081
Duke Energy Indiana LLC Series DDDD 4.95%, 03/15/2036	U.S.$		216		212,693
E.ON SE Series E 0.75%, 02/20/2028^(a)	EUR		390		431,280
Edison International 4.80%, 03/15/2031	U.S.$		59		57,614
5.25%, 11/15/2028			247		248,845
5.75%, 06/15/2027			218		219,793
EDP SA 4.625%, 09/16/2054^(a)	EUR		400		460,175
Series E 4.75%, 05/29/2054^(a)			2,100		2,439,421
EDP Servicios Financieros Espana SA Series E 3.50%, 07/16/2030^(a)			2,567		2,959,364
3.50%, 07/21/2031^(a)			11,600		13,319,302
Electricite de France SA Series E 7.50%, 09/06/2028^(a)(b)			400		493,856
Series MPLE 5.99%, 05/23/2030^(a)	CAD		4,109		3,161,551
Emera US Finance LLC 4.50%, 04/01/2029	U.S.$		55		54,915
5.20%, 04/01/2033			55		54,713
Emirates Semb Corp. Water & Power Co. PJSC 4.45%, 08/01/2035^(a)			220		201,326
EnBW Energie Baden-Wuerttemberg AG 3.625%, 02/10/2056^(a)	EUR		13,800		15,204,547
ENEL Finance International NV 2.125%, 07/12/2028^(a)(d)	U.S.$		702		665,063



42 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

3.625%, 05/25/2027^(a)	U.S.$		1,147	$	1,136,690
4.125%, 09/30/2028^(a)			494		489,534
5.75%, 09/30/2055^(a)			698		648,545
6.00%, 10/07/2039^(a)			303		306,300
Series E 0.875%, 01/17/2031^(a)	EUR		8,670		8,832,689
1.00%, 10/20/2027^(a)	GBP		100		124,346
3.00%, 02/24/2031^(a)	EUR		1,884		2,120,346
Enel SpA 4.25%, 01/14/2030^(a)(b)			5,000		5,700,059
Series E 5.75%, 06/22/2037^(a)	GBP		96		122,644
6.375%, 04/16/2028^(a)(b)	EUR		5,000		5,997,909
Engie SA 1.50%, 05/30/2028^(a)(b)			100		110,080
5.125%, 03/14/2033^(a)(b)			200		235,273
Entergy Corp. 6.10%, 06/15/2056	U.S.$		319		314,344
Entergy Louisiana LLC 5.65%, 04/15/2056			325		312,440
Entergy Mississippi LLC 5.05%, 04/15/2036			60		59,039
Eversource Energy 3.375%, 03/01/2032			642		588,803
4.60%, 07/01/2027			558		558,623
5.45%, 03/01/2028			568		577,584
Series A 6.10%, 08/15/2056			1,737		1,714,678
Series B 6.35%, 08/15/2056			48		47,347
FirstEnergy Pennsylvania Electric Co. 4.55%, 03/15/2031^(a)			58		57,792
Florida Power & Light Co. 5.30%, 04/01/2053			130		122,189
Iberdrola Finanzas SA 5.38%, 11/28/2030^(a)	AUD		1,700		1,154,878
Series E 4.25%, 05/28/2030^(a)(b)	EUR		500		575,740
Iberdrola International BV Series NC8 2.25%, 01/28/2029^(a)(b)			700		765,661
Series NC9 1.825%, 08/09/2029^(a)(b)			3,800		4,052,671
ITC Holdings Corp. 4.875%, 04/15/2031^(a)	U.S.$		265		265,013
4.95%, 09/22/2027^(a)			661		664,198
Kallpa Generacion SA 5.875%, 01/30/2032^(a)			330		337,468



ABFunds.com		AB Global Bond Fund 43

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

LG Energy Solution Ltd. 5.375%, 04/02/2030^(a)	U.S.$		490	$	494,082
5.875%, 04/02/2036^(a)			500		495,688
LLPL Capital Pte. Ltd. 6.875%, 02/04/2039^(a)			532		536,960
Minejesa Capital BV 4.625%, 08/10/2030^(a)			837		824,652
National Grid PLC Series E 0.55%, 09/18/2029^(a)	EUR		3,731		3,901,682
National Rural Utilities Cooperative Finance Corp. Series D 4.15%, 08/25/2028	U.S.$		260		259,146
NextEra Energy Capital Holdings, Inc. 3.62%, 02/10/2034	EUR		1,908		2,157,615
4.50%, 05/15/2056			404		449,452
4.80%, 12/01/2077	U.S.$		687		671,340
4.90%, 02/28/2028			147		148,258
Niagara Energy SAC 5.75%, 10/03/2034^(a)			390		390,254
Niagara Mohawk Power Corp. 4.65%, 10/03/2030^(a)			195		194,236
5.11%, 01/12/2036^(a)			287		281,951
5.29%, 01/17/2034^(a)			128		128,272
5.66%, 01/17/2054^(a)			30		28,209
Northern States Power Co/MN 5.55%, 05/15/2056			324		314,370
Ohio Edison Co. 4.95%, 12/15/2029^(a)			98		99,128
Oklahoma Gas & Electric Co. 5.90%, 04/01/2056			267		266,857
Oncor Electric Delivery Co. LLC 4.50%, 03/15/2031^(a)			55		54,706
5.90%, 03/15/2056^(a)			165		164,856
PacifiCorp 3.30%, 03/15/2051			356		220,552
4.125%, 01/15/2049			429		312,364
4.15%, 02/15/2050			69		50,285
4.65%, 04/15/2029			55		54,963
5.10%, 02/15/2029			23		23,302
5.10%, 04/15/2031			2,452		2,458,773
5.35%, 12/01/2053			429		366,985
5.45%, 04/15/2033			55		55,152
5.50%, 05/15/2054			942		824,607
5.75%, 04/01/2037			281		277,675
5.80%, 04/15/2036			2,893		2,915,385
5.80%, 01/15/2055			216		197,372
6.00%, 01/15/2039			26		25,830
6.35%, 07/15/2038			110		112,515
7.125%, 08/15/2056			6,572		6,218,347



44 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

PECO Energy Co. 4.875%, 09/15/2035	U.S.$		209	$	207,026
Pertamina Geothermal Energy PT 5.15%, 04/27/2028^(a)			250		251,445
Progress Energy, Inc. 7.75%, 03/01/2031			609		686,834
Public Service Co. of Colorado 4.15%, 03/13/2029			5,076		5,061,297
5.15%, 09/15/2035			417		415,447
5.35%, 05/15/2034			301		306,356
Public Service Co. of Oklahoma 5.20%, 01/15/2035			267		265,743
RH International Singapore Corp. Pte. Ltd. Series E 4.50%, 03/27/2028^(a)			200		197,826
San Diego Gas & Electric Co. 5.40%, 04/15/2035			404		410,899
Series DDDD 5.20%, 03/15/2036			58		57,829
Series EEEE 5.95%, 03/15/2056			9,466		9,486,875
Southern California Edison Co. 5.50%, 03/15/2040			330		317,928
TNB Global Ventures Capital Bhd 4.85%, 11/01/2028^(a)			430		433,629
Vistra Operations Co. LLC 4.70%, 01/31/2031^(a)			321		315,934
5.05%, 12/30/2026^(a)			71		71,220
Wisconsin Electric Power Co. 3.95%, 03/01/2029			226		223,687

					148,627,947

Natural Gas – 0.3%
Boston Gas Co. 3.00%, 08/01/2029^(a)			415		394,114
Brooklyn Union Gas Co. (The) 5.46%, 03/16/2036^(a)			55		54,468
Cadent Finance PLC Series E 0.625%, 03/19/2030^(a)	EUR		13,044		13,407,868
3.75%, 04/16/2033^(a)			266		301,591
Centrica PLC Series E 4.375%, 03/13/2029^(a)	GBP		120		155,797
Grupo Energia Bogota SA ESP 7.85%, 11/09/2033^(a)	U.S.$		200		217,708
National Grid North America, Inc. Series E 1.05%, 01/20/2031^(a)	EUR		1,302		1,333,138



ABFunds.com		AB Global Bond Fund 45

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

3.25%, 11/25/2029^(a)	EUR		1,664	$	1,905,142
3.63%, 09/03/2031^(a)			2,987		3,435,533
Southern California Gas Co. 5.60%, 04/01/2054	U.S.$		291		277,585
6.00%, 06/15/2055			353		354,620
Southern Gas Networks PLC Series E 6.25%, 05/07/2039^(a)	GBP		100		128,096

					21,965,660

Other Utility – 0.7%
Anglian Water Services Financing PLC Series A5 6.29%, 07/30/2030^(a)			1,990		2,693,200
Series G 5.375%, 11/10/2033^(a)			100		126,758
5.875%, 06/20/2031^(a)			4,002		5,325,413
6.00%, 06/20/2039^(a)			100		123,009
Buffalo Energy Mexico Holdings/Buffalo Energy Infrastructure/Buffalo Energy 7.875%, 02/15/2039^(a)	U.S.$		198		207,460
Severn Trent Utilities Finance PLC Series E 3.875%, 08/04/2037^(a)	EUR		328		364,218
Suez SACA Series E 4.50%, 11/13/2033^(a)			14,000		16,620,922
4.625%, 11/03/2028^(a)			400		474,575
6.625%, 10/05/2043^(a)	GBP		100		131,554
Veolia Environnement SA 5.99%, 11/22/2028^(a)(b)	EUR		200		240,729
Series E 1.625%, 09/17/2030^(a)			1,200		1,271,943
1.625%, 09/21/2032^(a)			3,400		3,424,044
3.32%, 06/17/2032^(a)			7,100		7,993,356
4.32%, 10/24/2032^(a)(b)			8,300		9,309,445
Yorkshire Water Finance PLC 6.375%, 08/19/2039	GBP		64		81,173

					48,387,799

					218,981,406

Total Corporates - Investment Grade (cost $1,705,460,645)					1,709,900,252


MORTGAGE PASS-THROUGHS – 13.8%
Agency Fixed Rate 30-Year – 13.8%
Federal National Mortgage Association Series 2005 5.50%, 02/01/2035	U.S.$		4		3,994



46 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2007 5.50%, 09/01/2036	U.S.$		2	$	2,535
5.50%, 08/01/2037			3		2,853
Series 2008 5.50%, 03/01/2037			1		1,245
Series 2017 3.50%, 06/01/2047			9		8,393
3.50%, 08/01/2047			15		13,947
3.50%, 10/01/2047			116		107,855
3.50%, 01/01/2048			5		4,986
Series 2018 3.50%, 01/01/2048			4		3,597
3.50%, 02/01/2048			118		109,999
3.50%, 03/01/2048			2,945		2,743,296
3.50%, 05/01/2048			11		10,234
Government National Mortgage Association Series 2022 5.00%, 11/20/2052			29,875		29,798,709
Series 2026 2.50%, 04/01/2056, TBA			77,474		66,511,228
3.00%, 04/01/2056, TBA			121,729		108,554,287
3.50%, 04/01/2056, TBA			34,250		31,386,801
4.00%, 04/01/2056, TBA			17,468		16,343,156
4.50%, 04/01/2056, TBA			72,403		69,829,912
5.00%, 04/01/2056, TBA			161,100		159,411,171
5.50%, 04/01/2056, TBA			217,834		219,038,308
6.00%, 04/01/2056, TBA			33,278		33,826,710
Uniform Mortgage-Backed Security Series 2026 2.00%, 04/01/2056, TBA			40,772		32,769,122
2.50%, 04/01/2056, TBA			64,938		54,588,506
5.00%, 04/01/2056, TBA			31,698		31,243,842
5.50%, 04/01/2056, TBA			31,149		31,279,258
6.00%, 04/01/2056, TBA			24,605		25,071,899
6.50%, 04/01/2056, TBA			9,793		10,127,752


Total Mortgage Pass-Throughs (cost $927,464,384)					922,793,595


COLLATERALIZED MORTGAGE OBLIGATIONS – 4.0%
Risk Share Floating Rate – 1.7%
Connecticut Avenue Securities Series 2025-R01, Class 1M1 4.76% (CME Term SOFR + 1.10%), 01/25/2045^(a)(c)			2,345		2,343,225
Connecticut Avenue Securities Trust Series 2021-R01, Class 1M2 5.21% (CME Term SOFR + 1.55%), 10/25/2041^(a)(c)			379		379,613



ABFunds.com		AB Global Bond Fund 47

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2023-R03, Class 2M2 7.56% (CME Term SOFR + 3.90%), 04/25/2043^(a)(c)	U.S.$		1,202	$	1,258,459
Series 2023-R04, Class 1M1 5.96% (CME Term SOFR + 2.30%), 05/25/2043^(a)(c)			3,648		3,716,327
Series 2023-R05, Class 1M1 5.56% (CME Term SOFR + 1.90%), 06/25/2043^(a)(c)			2,517		2,531,821
Series 2024-R04, Class 1M1 4.76% (CME Term SOFR + 1.10%), 05/25/2044^(a)(c)			1,097		1,096,609
Series 2025-R02, Class 1A1 4.66% (CME Term SOFR + 1.00%), 02/25/2045^(a)(c)			2,522		2,519,973
Series 2025-R03, Class 2A1 5.11% (CME Term SOFR + 1.45%), 03/25/2045^(a)(c)			1,625		1,628,215
Series 2025-R05, Class 2A1 4.66% (CME Term SOFR + 1.00%), 07/25/2045^(a)(c)			6,552		6,539,876
Series 2025-R06, Class 1A1 4.56% (CME Term SOFR + 0.90%), 09/25/2045^(a)(c)			5,846		5,816,573
Series 2025-R06, Class 1M1 4.61% (CME Term SOFR + 0.95%), 09/25/2045^(a)(c)			7,013		6,991,079
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2021-DNA5, Class M2 5.31% (CME Term SOFR + 1.65%), 01/25/2034^(a)(c)			1,353		1,352,942
Series 2021-DNA6, Class M2 5.16% (CME Term SOFR + 1.50%), 10/25/2041^(a)(c)			11,544		11,555,020
Series 2021-DNA7, Class M1 4.51% (CME Term SOFR + 0.85%), 11/25/2041^(a)(c)			72		72,048
Series 2021-DNA7, Class M2 5.46% (CME Term SOFR + 1.80%), 11/25/2041^(a)(c)			13,277		13,310,146
Series 2021-HQA4, Class M2 6.01% (CME Term SOFR + 2.35%), 12/25/2041^(a)(c)			6,919		6,966,598
Series 2022-DNA3, Class M2 8.01% (CME Term SOFR + 4.35%), 04/25/2042^(a)(c)			4,004		4,120,482



48 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2023-DNA1, Class M1A 5.76% (CME Term SOFR + 2.10%), 03/25/2043^(a)(c)	U.S.$		7,609	$	7,680,039
Series 2023-DNA2, Class M1A 5.76% (CME Term SOFR + 2.10%), 04/25/2043^(a)(c)			7,079		7,142,808
Series 2023-DNA2, Class M1B 6.91% (CME Term SOFR + 3.25%), 04/25/2043^(a)(c)			2,664		2,764,535
Series 2024-DNA2, Class A1 4.91% (CME Term SOFR + 1.25%), 05/25/2044^(a)(c)			1,723		1,723,780
Series 2024-DNA2, Class M1 4.86% (CME Term SOFR + 1.20%), 05/25/2044^(a)(c)			2,919		2,917,412
Series 2024-HQA2, Class M1 4.86% (CME Term SOFR + 1.20%), 08/25/2044^(a)(c)			4,194		4,192,088
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2023-HQA2 Series 2023-HQA2, Class M1B 7.01% (CME Term SOFR + 3.35%), 06/25/2043^(a)(c)			6,000		6,127,149
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-DNA1 Series 2025-DNA1, Class A1 4.61% (CME Term SOFR + 0.95%), 01/25/2045^(a)(c)			3,373		3,367,186
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-DNA2 Series 2025-DNA2, Class A1 4.76% (CME Term SOFR + 1.10%), 05/25/2045^(a)(c)			1,544		1,544,101
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes 2025-Hqa1 Series 2025-HQA1, Class A1 4.61% (CME Term SOFR + 0.95%), 02/25/2045^(a)(c)			2,613		2,612,859

					112,270,963

Non-Agency Fixed Rate – 1.5%
Alternative Loan Trust Series 2006-24CB, Class A15 5.75%, 08/25/2036^(c)			1,160		559,633
Series 2006-26CB, Class A6 6.25%, 09/25/2036			108		48,377
Series 2006-26CB, Class A8 6.25%, 09/25/2036			405		180,717



ABFunds.com		AB Global Bond Fund 49

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2006-J1, Class 1A11 5.50%, 02/25/2036	U.S.$		530	$	348,595
Series 2007-15CB, Class A19 5.75%, 07/25/2037			231		126,617
Angel Oak Mortgage Trust Series 2025-4, Class A1 5.855%, 04/25/2070^(a)			3,444		3,469,084
Series 2025-6, Class A1 5.515%, 04/25/2070^(a)			6,404		6,424,926
CHL Mortgage Pass-Through Trust Series 2007-HY4, Class 1A1 4.59%, 09/25/2047			180		163,399
Series 2007-3, Class A30 5.75%, 04/25/2037			761		321,408
Citigroup Mortgage Loan Trust Series 2007-AR4, Class 1A1A 4.49%, 03/25/2037			93		81,001
COLT Mortgage Loan Trust Series 2025-5, Class A1 5.54%, 05/25/2070^(a)			4,439		4,454,918
Series 2025-8, Class A1 5.48%, 08/25/2070^(a)			4,786		4,799,688
Cross Mortgage Trust Series 2025-H4, Class A1 5.60%, 06/25/2070^(a)			5,353		5,377,383
Series 2025-H7, Class A1 4.93%, 09/25/2070^(a)			5,297		5,262,438
FIGRE Trust Series 2026-HE1, Class A 4.98%, 01/25/2056^(a)			6,992		6,923,139
GCAT Trust Series 2025-NQM2, Class A1 5.60%, 04/25/2070^(a)			3,826		3,841,458
JP Morgan Mortgage Trust Series 2025-CES7, Class A1A 5.055%, 04/25/2056^(a)			6,417		6,386,621
OBX Trust Series 2025-NQM8, Class A1 5.47%, 03/25/2065^(a)			3,081		3,091,428
Series 2025-NQM10, Class A1 5.45%, 05/25/2065^(a)			8,548		8,573,335
RCKT Mortgage Trust Series 2025-CES12, Class A1A 5.03%, 11/25/2055^(a)			9,851		9,797,892
Series 2026-CES2, Class A1A 4.76%, 02/25/2056^(a)			11,589		11,441,809



50 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Residential Accredit Loans, Inc. Trust Series 2005-QS14, Class 3A1 6.00%, 09/25/2035	U.S.$		346	$	306,810
Towd Point Mortgage Trust Series 2026-CES2, Class A1A 4.72%, 02/25/2066^(a)			3,453		3,406,227
Verus Securitization Trust Series 2025-1, Class A1B 5.62%, 01/25/2070^(a)			1,968		1,975,114
Series 2025-4, Class A1 5.45%, 05/25/2070^(a)			6,735		6,756,317
Series 2025-5, Class A1 5.43%, 06/25/2070^(a)			4,213		4,224,504
Series 2025-6, Class A1 5.42%, 07/25/2070^(a)			1,818		1,822,960
Series 2025-R1, Class A1 5.40%, 05/25/2065^(a)			2,209		2,213,421
Wells Fargo Mortgage Backed Securities Trust Series 2007-AR7, Class A1 6.02%, 12/28/2037			446		405,606

					102,784,825

Non-Agency Floating Rate – 0.8%
Angel Oak Mortgage Trust Series 2025-9, Class A1 5.14%, 08/25/2070^(a)			3,631		3,620,837
Series 2025-10, Class A1 4.96%, 09/25/2070^(a)(c)			5,730		5,694,763
BRAVO Residential Funding Trust Series 2025-NQM5, Class A1 5.50%, 02/25/2065^(a)			1,704		1,708,918
Series 2025-NQM7, Class A1 5.46%, 07/25/2065^(a)			2,712		2,719,180
COLT Mortgage Loan Trust Series 2025-10, Class A1 5.09%, 10/25/2070^(a)			4,966		4,947,120
First Horizon Alternative Mortgage Securities Trust Series 2007-FA2, Class 1A10 4.04% (CME Term SOFR 1 Month + 0.36%), 04/25/2037^(c)			527		114,686
HOMES Trust Series 2025-AFC4, Class A1 5.15%, 11/25/2060^(a)			6,729		6,715,040
Morgan Stanley Residential Mortgage Loan Trust Series 2025-NQM3, Class A1 5.53%, 05/25/2070^(a)			4,089		4,103,210
Series 2025-NQM5, Class A1 5.44%, 07/25/2070^(a)(c)			2,752		2,757,417



ABFunds.com		AB Global Bond Fund 51

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2025-NQM9, Class A1 5.02%, 09/25/2070^(a)	U.S.$		4,460	$	4,436,780
OBX Trust Series 2026-NQM5, Class A1 5.32%, 01/25/2066^(a)			3,147		3,146,974
Santander Mortgage Asset Receivable Trust Series 2026-NQM2, Class A1 4.70%, 01/25/2066^(a)			8,913		8,814,406
Verus Securitization Trust Series 2025-9, Class A1 4.935%, 10/27/2070^(a)(c)			3,225		3,206,753

					51,986,084

Total Collateralized Mortgage Obligations (cost $269,394,717)					267,041,872


COLLATERALIZED LOAN OBLIGATIONS – 3.5%
CLO - Floating Rate – 3.5%
AGL CLO 16 Ltd. Series 2021-16A, Class AR 4.62% (CME Term SOFR 3 Month + 0.95%), 01/20/2035^(a)(c)			5,410		5,406,202
Series 2021-16A, Class BR 5.07% (CME Term SOFR 3 Month + 1.40%), 01/20/2035^(a)(c)			6,310		6,240,401
AGL CLO 44 Ltd. Series 2025-44A, Class A 4.98% (CME Term SOFR 3 Month + 1.15%), 10/22/2037^(a)(c)			11,307		11,261,747
Allegany Park CLO Ltd. Series 2019-1A, Class ARR 4.77% (CME Term SOFR 3 Month + 1.10%), 01/20/2035^(a)(c)			4,950		4,943,060
Apidos CLO XXXII Series 2019-32A, Class A1R 4.77% (CME Term SOFR 3 Month + 1.10%), 01/20/2033^(a)(c)			5,698		5,706,025
Series 2019-32A, Class B1R 5.17% (CME Term SOFR 3 Month + 1.50%), 01/20/2033^(a)(c)			980		979,180
Apidos CLO XXXV Series 2021-35A, Class A 4.98% (CME Term SOFR 3 Month + 1.31%), 04/20/2034^(a)(c)			5,030		5,030,015
Bain Capital Credit CLO Ltd. Series 2020-1A, Class BRR 5.17% (CME Term SOFR 3 Month + 1.50%), 04/18/2033^(a)(c)			5,857		5,839,939



52 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Benefit Street Partners CLO 48 Ltd. Series 2026-48A, Class B 5.11% (CME Term SOFR 3 Month + 1.40%), 04/20/2039^(a)(c)	U.S.$		6,692	$	6,684,835
Chenango Park CLO Ltd. Series 2018-1A, Class BR 5.47% (CME Term SOFR 3 Month + 1.80%), 04/15/2030^(a)(c)			1,561		1,562,548
Clover CLO LLC Series 2021-3A, Class BR 5.12% (CME Term SOFR 3 Month + 1.45%), 01/25/2035^(a)(c)			10,031		9,944,160
Dryden 113 CLO Ltd. Series 2022-113A, Class AR3 4.76% (CME Term SOFR 3 Month + 1.09%), 10/15/2037^(a)(c)			21,165		21,137,697
Elmwood CLO 15 Ltd. Series 2022-2A, Class A1R 4.82% (CME Term SOFR 3 Month + 1.15%), 04/22/2035^(a)(c)			4,900		4,899,868
Galaxy 36 CLO Ltd. Series 2025-36A, Class A1 5.01% (CME Term SOFR 3 Month + 1.23%), 10/15/2038^(a)(c)			20,050		19,997,409
Invesco CLO Ltd. Series 2021-1A, Class A1 4.93% (CME Term SOFR 3 Month + 1.26%), 04/15/2034^(a)(c)			5,500		5,494,274
Series 2021-2A, Class AR 4.77% (CME Term SOFR 3 Month + 1.10%), 07/15/2034^(a)(c)			4,439		4,435,087
Magnetite XIX Ltd. Series 2017-19A, Class B1RR 5.12% (CME Term SOFR 3 Month + 1.45%), 04/17/2034^(a)(c)			5,996		5,981,582
Neuberger Berman Loan Advisers CLO 42 Ltd. Series 2021-42A, Class AR 4.62% (CME Term SOFR 3 Month + 0.95%), 07/16/2036^(a)(c)			5,063		5,049,141
Neuberger Berman Loan Advisers CLO 46 Ltd. Series 2021-46A, Class BR 5.17% (CME Term SOFR 3 Month + 1.50%), 01/20/2037^(a)(c)			5,005		4,998,754
Neuberger Berman Loan Advisers CLO 59 Ltd. Series 2024-59A, Class A1 4.96% (CME Term SOFR 3 Month + 1.29%), 01/23/2039^(a)(c)			18,000		18,001,584



ABFunds.com		AB Global Bond Fund 53

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Neuberger Berman Loan Advisers CLO 63 Ltd. Series 2026-63A, Class B 5.12% (CME Term SOFR 3 Month + 1.40%), 04/16/2039^(a)(c)	U.S.$		4,040	$	4,020,541
New Mountain CLO 9 Ltd. Series CLO-9A, Class B 5.28% (CME Term SOFR 3 Month + 1.57%), 04/22/2039^(a)(c)			4,000		3,995,892
OCP CLO Ltd. Series 2021-23A, Class B1R2 5.12% (CME Term SOFR 3 Month + 1.45%), 01/17/2039^(a)(c)			10,815		10,678,623
Series 2026-49A, Class B1 5.08% (CME Term SOFR 3 Month + 1.40%), 04/16/2039^(a)(c)			3,961		3,955,857
Palmer Square CLO Ltd. Series 2026-1A, Class A 4.86% (CME Term SOFR 3 Month + 1.19%), 04/20/2039^(a)(c)			5,583		5,582,710
Series 2026-1A, Class B 5.07% (CME Term SOFR 3 Month + 1.40%), 04/20/2039^(a)(c)			4,007		4,004,312
Pikes Peak CLO 6 Series 2020-6A, Class ARR 4.595% (CME Term SOFR 3 Month + 0.94%), 05/18/2034^(a)(c)			4,899		4,890,885
Series 2020-6A, Class BRR 5.105% (CME Term SOFR 3 Month + 1.45%), 05/18/2034^(a)(c)			2,286		2,281,219
Rad CLO 14 Ltd. Series 2021-14A, Class A 5.10% (CME Term SOFR 3 Month + 1.43%), 01/15/2035^(a)(c)			4,750		4,744,818
Regatta XX Funding Ltd. Series 2021-2A, Class AR 4.85% (CME Term SOFR 3 Month + 1.18%), 01/15/2038^(a)(c)			6,150		6,134,699
Rockford Tower CLO Ltd. Series 2018-2A, Class A 5.09% (CME Term SOFR 3 Month + 1.42%), 10/20/2031^(a)(c)			1,412		1,412,443
Trestles CLO X Ltd. Series 2026-10A, Class A1 4.86% (CME Term SOFR 3 Month + 1.18%), 04/20/2039^(a)(c)			6,598		6,594,596
Trinitas CLO XXXV Ltd. Series 2026-35A, Class A1 4.89% (CME Term SOFR 3 Month + 1.22%), 01/22/2039^(a)(c)			2,502		2,501,625



54 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2026-35A, Class B 5.17% (CME Term SOFR 3 Month + 1.50%), 01/22/2039^(a)(c)	U.S.$		1,262	$	1,259,804
VERDE CLO Ltd. Series 2019-1A, Class ARR 4.78% (CME Term SOFR 3 Month + 1.11%), 04/15/2032^(a)(c)			2,026		2,026,650
Voya CLO Ltd. Series 2024-7A, Class A1 4.98% (CME Term SOFR 3 Month + 1.31%), 01/20/2038^(a)(c)			10,950		10,951,905
Series 2025-5A, Class B 5.22% (CME Term SOFR 3 Month + 1.55%), 01/15/2039^(a)(c)			3,234		3,197,216


Total Collateralized Loan Obligations (cost $232,320,139)					231,827,303


COMMERCIAL MORTGAGE-BACKED SECURITIES – 3.2%
Non-Agency Floating Rate CMBS – 2.6%
ALA Trust Series 2025-OANA, Class A 5.42% (CME Term SOFR 1 Month + 1.74%), 06/15/2040^(a)(c)			18,761		18,808,033
BAMLL Trust Series 2025-ASHF, Class A 5.52% (CME Term SOFR 1 Month + 1.85%), 02/15/2042^(a)(c)			17,283		17,295,561
BHMS Commercial Mortgage Trust Series 2025-ATLS, Class A 5.52% (CME Term SOFR 1 Month + 1.85%), 08/15/2042^(a)(c)			10,499		10,495,764
BOCA Commercial Mortgage Trust Series 2025-BOCA, Class A 5.27% (CME Term SOFR 1 Month + 1.60%), 12/15/2042^(a)(c)			11,714		11,721,321
BX Commercial Mortgage Trust Series 2024-AIR2, Class A 5.165% (CME Term SOFR 1 Month + 1.49%), 10/15/2041^(a)(c)			2,360		2,361,795
Series 2026-CSMO, Class A 5.07% (CME Term SOFR 1 Month + 1.40%), 02/15/2043^(a)(c)			10,260		10,256,806
BX Trust Series 2025-DELC, Class A 5.22% (CME Term SOFR 1 Month + 1.55%), 12/15/2042^(a)(c)			3,085		3,087,780



ABFunds.com		AB Global Bond Fund 55

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2025-GW, Class A 5.27% (CME Term SOFR 1 Month + 1.60%), 07/15/2042^(a)(c)	U.S.$		5,057	$	5,056,994
Series 2025-VOLT, Class A 5.37% (CME Term SOFR 1 Month + 1.70%), 12/15/2044^(a)(c)			11,772		11,735,213
Great Wolf Trust Series 2024-WLF2, Class A 5.36% (CME Term SOFR 1 Month + 1.69%), 05/15/2041^(a)(c)			2,316		2,315,997
Series 2024-WOLF, Class A 5.215% (CME Term SOFR 1 Month + 1.54%), 03/15/2039^(a)(c)			16,019		16,013,994
Hawaii Hotel Trust Series 2025-MAUI, Class A 5.065% (CME Term SOFR 1 Month + 1.39%), 03/15/2042^(a)(c)			8,158		8,152,901
HILT Commercial Mortgage Trust Series 2024-ORL, Class A 5.21% (CME Term SOFR 1 Month + 1.54%), 05/15/2037^(a)(c)			4,181		4,178,387
KIND Trust Series 2021-KIND, Class A 4.74% (CME Term SOFR 1 Month + 1.06%), 08/15/2038^(a)(c)			3,015		2,999,755
Natixis Commercial Mortgage Securities Trust Series 2019-MILE, Class A 5.25% (CME Term SOFR 1 Month + 1.58%), 07/15/2036^(a)(c)			10,690		10,387,670
Series 2022-JERI, Class A 5.22% (CME Term SOFR 1 Month + 1.55%), 01/15/2039^(a)(c)			8,113		7,234,172
NJ Trust Series 2023-GSP, Class A 6.48%, 01/06/2029^(a)			6,238		6,464,226
ORL Trust Series 2024-GLKS, Class A 5.165% (CME Term SOFR 1 Month + 1.49%), 12/15/2039^(a)(c)			11,956		11,955,523
SWCH Commercial Mortgage Trust Series 2025-DATA, Class A 5.115% (CME Term SOFR 1 Month + 1.44%), 02/15/2042^(a)(c)			15,630		15,422,916

					175,944,808

Non-Agency Fixed Rate CMBS – 0.6%
BAHA Trust Series 2024-MAR, Class A 5.57%, 12/10/2041^(a)(c)			5,000		5,101,966



56 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Commercial Mortgage Trust Series 2012-CR3, Class D 4.43%, 10/15/2045^(a)	U.S.$		2,322	$	1,927,028
DTP Commercial Mortgage Trust Series 2023-STE2, Class A 5.45%, 01/15/2041^(a)			1,329		1,344,838
Fashion Show Mall LLC Series 2024-SHOW, Class A 4.76%, 10/10/2041^(a)			8,992		9,045,580
GSMS Trust Series 2026-DAWN, Class A 5.82%, 04/10/2043^(a)			5,033		5,012,518
MAD Commercial Mortgage Trust Series 2025-11MD, Class A 4.44%, 10/15/2042^(a)			8,900		8,859,448
NYC Commercial Mortgage Trust Series 2025-28L, Class A 4.67%, 11/05/2038^(a)			3,263		3,249,208
WB Commercial Mortgage Trust Series 2024-HQ, Class A 5.54%, 03/15/2040^(a)			4,000		4,005,858

					38,546,444

Total Commercial Mortgage-Backed Securities (cost $215,742,784)					214,491,252


ASSET-BACKED SECURITIES – 2.7%
Other ABS - Fixed Rate – 1.8%
Accelerated LLC Series 2024-1A, Class A 4.68%, 08/22/2044^(a)			4,372		4,348,680
Affirm Asset Securitization Trust Series 2024-B, Class A 4.62%, 09/15/2029^(a)			4,022		4,030,568
Amur Equipment Finance Receivables XII LLC Series 2023-1A, Class A2 6.09%, 12/20/2029^(a)			798		803,013
APL Finance DAC Series 2025-1A, Class A 4.81%, 03/20/2036^(a)			3,917		3,913,811
BHG Securitization Trust Series 2023-B, Class A 6.92%, 12/17/2036^(a)			887		917,383
Series 2025-1CON, Class A 4.82%, 04/17/2036^(a)			3,564		3,545,764
Series 2025-2CON, Class B 5.17%, 09/17/2036^(a)			8,950		8,987,730



ABFunds.com		AB Global Bond Fund 57

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

CCG Receivables Trust Series 2024-1, Class A2 4.99%, 03/15/2032^(a)	U.S.$		3,011	$	3,031,936
Series 2025-1, Class B 4.69%, 10/14/2032^(a)			1,283		1,289,595
Clarus Capital Funding LLC Series 2024-1A, Class A2 4.71%, 08/20/2032^(a)			3,879		3,887,463
Series 2024-1A, Class B 4.79%, 08/20/2032^(a)			261		261,578
Crossroads Asset Trust Series 2024-A, Class A2 5.90%, 08/20/2030^(a)			3,281		3,310,669
Dext ABS LLC Series 2023-1, Class A2 5.99%, 03/15/2032^(a)			619		621,174
Series 2023-2, Class A2 6.56%, 05/15/2034^(a)			346		347,001
Series 2025-2, Class B 4.66%, 04/15/2036^(a)			6,400		6,372,202
FIP Master Funding LLC Series 2025-1A, Class A1 4.98%, 10/15/2055^(a)			3,315		3,279,440
Hilton Grand Vacations Trust Series 2025-1A, Class A 4.88%, 05/27/2042^(a)			687		689,594
HINNT LLC Series 2024-A, Class A 5.49%, 03/15/2043^(a)			1,716		1,738,661
Lendmark Funding Trust Series 2024-2A, Class B 4.86%, 02/21/2034^(a)			1,599		1,601,698
MVW LLC Series 2025-1A, Class A 4.97%, 09/22/2042^(a)			4,664		4,699,949
Nelnet Student Loan Trust Series 2021-CA, Class B 2.53%, 04/20/2062^(a)			8,191		7,270,326
NMEF Funding LLC Series 2023-A, Class A2 6.57%, 06/17/2030^(a)			569		570,926
PEAC Solutions Receivables LLC Series 2025-1A, Class A2 4.94%, 10/20/2028^(a)(c)			1,269		1,275,137
Series 2025-1A, Class B 5.20%, 07/20/2032^(a)(c)			2,889		2,909,502
Series 2026-1A, Class B 4.75%, 07/20/2033^(a)			3,905		3,891,646



58 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

PK Alift Loan Funding 8 LP Series 2026-1, Class A 4.61%, 09/15/2043^(a)	U.S.$		14,312	$	14,129,810
SCF Equipment Leasing LLC Series 2024-1A, Class A2 5.88%, 11/20/2029^(a)			1,507		1,510,744
Series 2025-1A, Class A3 5.11%, 11/21/2033^(a)			10,770		10,970,811
Sierra Timeshare Receivables Funding LLC Series 2024-2A, Class A 5.14%, 06/20/2041^(a)			1,695		1,708,776
SoFi Consumer Loan Program Trust Series 2025-2, Class B 4.97%, 06/25/2034^(a)			3,941		3,952,510
Sotheby’s Artfi Master Trust Series 2026-1A, Class A1 4.80%, 06/20/2033^(a)			12,994		12,973,780
Series 2026-1A, Class B 4.90%, 06/20/2033^(a)			908		905,984

					119,747,861

Autos - Fixed Rate – 0.7%
Ally Bank Auto Credit-Linked Notes Series 2024-A, Class A2 5.68%, 05/17/2032^(a)			1,732		1,758,345
Series 2024-B, Class B 5.12%, 09/15/2032^(a)			1,158		1,165,790
BOF VII AL Funding Trust I Series 2023-CAR3, Class A2 6.29%, 07/26/2032^(a)			1,781		1,807,476
Hertz Vehicle Financing III LLC Series 2025-1A, Class A 4.91%, 09/25/2029^(a)			8,260		8,307,287
Hyundai Auto Lease Securitization Trust Series 2025-A, Class B 5.15%, 06/15/2029^(a)			8,465		8,529,543
Merchants Fleet Funding LLC Series 2023-1A, Class A 7.21%, 05/20/2036^(a)			1,070		1,072,708
Securitized Term Auto Receivables Trust Series 2025-A, Class B 5.04%, 07/25/2031^(a)			2,412		2,429,915
Stellantis Financial Underwritten Enhanced Lease Trust Series 2025-AA, Class B 4.74%, 04/20/2029^(a)			5,305		5,326,727
Tesla Auto Lease Trust Series 2024-B, Class A4 4.88%, 06/20/2028^(a)			3,521		3,535,178



ABFunds.com		AB Global Bond Fund 59

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 2024-B, Class B 5.11%, 08/21/2028^(a)	U.S.$		8,017	$	8,056,347
Wheels Fleet Lease Funding 1 LLC Series 2023-2A, Class A 6.46%, 08/18/2038^(a)			1,403		1,415,518

					43,404,834

Other ABS - Floating Rate – 0.2%
Capital Street Master Trust Series 2024-1, Class A 5.02% (CME Term SOFR + 1.35%), 10/16/2028^(a)(c)			3,929		3,930,702
Series 2025-1, Class A 4.77% (CME Term SOFR + 1.10%), 08/16/2029^(a)(c)			5,997		5,986,563
PFS Financing Corp. Series 2025-C, Class A 4.62% (CME Term SOFR + 0.95%), 04/15/2029^(a)(c)			4,293		4,306,378

					14,223,643

Total Asset-Backed Securities (cost $177,861,774)					177,376,338


COVERED BONDS – 2.4%
Bank of Nova Scotia (The) Series E 0.375%, 03/26/2030^(a)	EUR		5,000		5,204,416
BPCE SFH SA 3.00%, 10/17/2029^(a)			1,100		1,268,689
Series E 0.01%, 05/27/2030^(a)			15,000		15,251,811
Caisse de Refinancement de l’Habitat SA 2.75%, 04/12/2028^(a)			12,300		14,151,888
Caisse Francaise de Financement Local SA 0.01%, 02/22/2028^(a)			7,100		7,763,125
0.01%, 04/27/2029^(a)			700		737,754
Series E 3.00%, 10/02/2028^(a)			1,100		1,271,080
Cie de Financement Foncier SA 2.625%, 03/05/2030^(a)			2,300		2,610,153
Series E 2.50%, 06/28/2029^(a)			9,600		10,908,598
Commonwealth Bank of Australia Series E 0.75%, 02/28/2028^(a)			4,795		5,318,777
0.875%, 02/19/2029^(a)			13,000		14,162,466
Credit Agricole Home Loan SFH SA 2.875%, 06/23/2028^(a)			1,600		1,845,269



60 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series E 0.01%, 04/12/2028^(a)	EUR		1,900	$	2,069,927
0.875%, 08/31/2027^(a)			1,900		2,135,224
3.375%, 09/04/2028^(a)			8,400		9,792,950
Credit Mutuel Home Loan SFH SA Series E 3.25%, 04/20/2029^(a)			4,000		4,653,960
National Australia Bank Ltd. 0.01%, 01/06/2029^(a)			17,865		19,027,633
Nationwide Building Society 3.625%, 03/15/2028^(a)			10,740		12,565,491
Series E 1.125%, 05/31/2028^(a)			1,570		1,744,767
Santander UK PLC Series E 3.00%, 03/12/2029^(a)			7,500		8,648,076
Societe Generale SFH SA 0.125%, 07/18/2029^(a)			9,200		9,665,832
Westpac Banking Corp. Series E 0.01%, 09/22/2028^(a)			10,098		10,858,387


Total Covered Bonds (cost $158,555,945)					161,656,273


CORPORATES - NON-INVESTMENT GRADE – 1.9%
Industrial – 1.7%
Basic – 0.1%
INEOS Quattro Finance 2 PLC 8.50%, 03/15/2029^(a)			5,117		4,943,030


Capital Goods – 0.1%
EMRLD Borrower LP/Emerald Co-Issuer, Inc. 6.375%, 12/15/2030^(a)			4,935		5,814,869


Communications - Media – 0.1%
Virgin Media Secured Finance PLC 5.25%, 05/15/2029^(a)	GBP		5,000		6,332,476


Communications - Telecommunications – 0.4%
Fibercop SpA 4.75%, 06/30/2030^(a)	EUR		10,115		11,595,380
Vmed O2 UK Financing I PLC 5.625%, 04/15/2032^(a)			2,600		2,758,710
Vodafone Group PLC 3.00%, 08/27/2080^(a)			2,775		3,019,579



ABFunds.com		AB Global Bond Fund 61

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series E 8.00%, 08/30/2086^(a)	GBP		4,671	$	6,458,758

					23,832,427

Consumer Cyclical - Automotive – 0.1%
Nissan Motor Acceptance Co. LLC 1.85%, 09/16/2026^(a)	U.S.$		3,120		3,066,173
2.45%, 09/15/2028^(a)			5,328		4,869,897
5.30%, 09/13/2027^(a)			1,469		1,459,519

					9,395,589

Consumer Cyclical - Other – 0.2%
Allwyn Entertainment Financing UK PLC 4.125%, 02/15/2031^(a)	EUR		5,012		5,450,338
Hilton Domestic Operating Co., Inc. 5.875%, 04/01/2029^(a)	U.S.$		3,279		3,310,802
Standard Industries, Inc./NY 4.375%, 07/15/2030^(a)			990		934,707
4.75%, 01/15/2028^(a)			1,402		1,387,727
Taylor Morrison Communities, Inc. 5.75%, 01/15/2028^(a)			418		418,704

					11,502,278

Consumer Non-Cyclical – 0.2%
CVS Health Corp. 6.75%, 12/10/2054			636		641,975
7.00%, 03/10/2055			7,578		7,798,973
IQVIA, Inc. 5.00%, 10/15/2026^(a)			1,599		1,595,617
Perrigo Finance Unlimited Co. Series EUR 5.375%, 09/30/2032	EUR		2,294		2,476,637
Tenet Healthcare Corp. 5.125%, 11/01/2027	U.S.$		2,720		2,717,586

					15,230,788

Energy – 0.1%
Sunoco LP/Sunoco Finance Corp. 7.00%, 09/15/2028^(a)			7,580		7,733,527
Wintershall Dea Finance 2 BV 6.12%, 05/08/2030^(a)(b)	EUR		182		212,528

					7,946,055

Technology – 0.2%
Almaviva-The Italian Innovation Co. SpA 5.00%, 10/30/2030^(a)			7,610		8,327,178
MKS, Inc. 4.25%, 02/15/2034^(a)			225		248,451
OAK-Eagle Acquireco, Inc. 6.25%, 07/01/2033^(a)			3,949		4,659,238
7.25%, 07/01/2033^(a)	U.S.$		137		141,886

					13,376,753



62 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)			U.S. $ Value

Transportation - Airlines – 0.1%
American Airlines, Inc./AAdvantage Loyalty IP Ltd. 5.75%, 04/20/2029^(a)	U.S.$		8,458		$	8,392,126


Transportation - Services – 0.1%
Boels Topholding BV 6.25%, 02/15/2029^(a)	EUR		7,625			9,002,029

						115,768,420

Financial Institutions – 0.1%
REITs – 0.1%
alstria SARL 4.25%, 10/15/2029^(a)			5,300			5,852,673
Vivion Investments SARL Series E 6.50%, 02/28/2029^(a)(d)(e)			24			27,596

						5,880,269

Utility – 0.1%
Other Utility – 0.1%
Holding d’Infrastructures des Metiers de l’Environnement SAS 4.875%, 10/24/2029^(a)			4,955			5,820,536


Total Corporates - Non-Investment Grade (cost $131,655,130)						127,469,225


EMERGING MARKETS - TREASURIES – 1.5%
Brazil – 0.9%
Brazil Notas do Tesouro Nacional Series F 10.00%, 01/01/2035	BRL		370,427			58,154,432


South Africa – 0.6%
Republic of South Africa Government Bond Series 2030 8.00%, 01/31/2030	ZAR		0	**		1
Series 2048 8.75%, 02/28/2048			731,993			39,100,745

						39,100,746

Total Emerging Markets - Treasuries (cost $97,875,915)						97,255,178


GOVERNMENTS - SOVEREIGN BONDS – 1.4%
Chile – 0.1%
Chile Electricity Lux MPC SARL 6.01%, 01/20/2033^(a)	U.S.$		378			390,332



ABFunds.com		AB Global Bond Fund 63

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Chile Electricity Lux MPC II SARL 5.58%, 10/20/2035^(a)	U.S.$		235	$	235,894
Chile Government International Bond 3.10%, 05/07/2041			825		623,700
3.50%, 01/25/2050			650		466,050
3.75%, 01/14/2032	EUR		3,435		3,933,143
5.33%, 01/05/2054	U.S.$		265		250,425

					5,899,544

Colombia – 0.2%
Colombia Government International Bond 5.75%, 11/26/2034	EUR		4,299		4,688,251
6.50%, 01/21/2033	U.S.$		2,026		1,980,415
6.50%, 11/26/2038	EUR		1,959		2,151,389
8.00%, 11/14/2035	U.S.$		3,609		3,778,803

					12,598,858

Hong Kong – 0.2%
Hong Kong Government International Bond Series G 3.15%, 07/24/2054^(a)	CNH		55,000		9,038,888


Hungary – 0.0%
Hungary Government International Bond 2.125%, 09/22/2031^(a)	U.S.$		673		570,031
3.125%, 09/21/2051^(a)			200		118,000
6.125%, 05/22/2028^(a)			250		255,745
6.25%, 09/22/2032^(a)			270		280,911
6.75%, 09/25/2052^(a)			331		341,214

					1,565,901

Indonesia – 0.4%
Indonesia Government International Bond 2.15%, 07/28/2031			1,030		896,615
2.50%, 10/31/2030	CNH		51,350		7,391,630
2.90%, 10/31/2035			51,550		7,361,142
3.05%, 03/12/2051	U.S.$		258		161,250
3.20%, 09/23/2061			887		532,927
3.55%, 03/31/2032			200		185,000
4.10%, 03/04/2034	EUR		5,965		6,614,585
4.30%, 03/31/2052	U.S.$		750		589,380
4.35%, 01/11/2048			235		190,282

					23,922,811

Kazakhstan – 0.0%
Kazakhstan Government International Bond 4.41%, 10/28/2030^(a)			760		743,972


Mexico – 0.2%
Mexico Government International Bond 2.66%, 05/24/2031			400		353,000



64 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

4.28%, 08/14/2041	U.S.$		500	$	391,875
5.00%, 04/27/2051			550		429,550
5.375%, 03/22/2033			8,967		8,760,759
5.625%, 09/22/2035			284		274,628
6.00%, 05/07/2036			510		506,685
6.34%, 05/04/2053			248		230,980
7.375%, 05/13/2055			240		252,000

					11,199,477

Oman – 0.0%
Oman Government International Bond 7.00%, 01/25/2051^(a)			1,150		1,242,099


Panama – 0.0%
Panama Government International Bond 3.87%, 07/23/2060			400		259,600
3.875%, 03/17/2028			670		658,610

					918,210

Peru – 0.0%
Peruvian Government International Bond 2.78%, 12/01/2060			105		55,729
3.55%, 03/10/2051			660		449,460
5.875%, 08/08/2054			120		115,560

					620,749

Philippines – 0.0%
Philippine Government International Bond 1.95%, 01/06/2032			1,070		913,512
3.23%, 03/29/2027			205		202,614
3.56%, 09/29/2032			205		189,369
4.20%, 03/29/2047			205		163,628

					1,469,123

Poland – 0.0%
Republic of Poland Government International Bond Series 10Y 4.875%, 10/04/2033			442		441,041
Series 30Y 5.50%, 04/04/2053			158		145,274

					586,315

Romania – 0.3%
Romanian Government International Bond 2.875%, 04/13/2042^(a)	EUR		300		216,549
3.00%, 02/14/2031^(a)	U.S.$		21,072		18,500,162
3.625%, 03/27/2032^(a)			256		224,370
5.25%, 11/25/2027^(a)			694		693,466
5.75%, 09/16/2030^(a)			284		282,793
6.625%, 02/17/2028^(a)			270		275,562



ABFunds.com		AB Global Bond Fund 65

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

6.625%, 05/16/2036^(a)	U.S.$		200	$	198,408
7.50%, 02/10/2037^(a)			640		672,243

					21,063,553

Saudi Arabia – 0.0%
KSA Ijarah Sukuk Ltd. 4.875%, 09/09/2035^(a)			1,020		991,731
KSA Sukuk Ltd. 5.27%, 10/25/2028^(a)			405		409,559
Saudi Government International Bond 3.625%, 03/04/2028^(a)			370		362,230
5.125%, 01/13/2028^(a)			200		201,400

					1,964,920

Uruguay – 0.0%
Oriental Republic of Uruguay 5.25%, 09/10/2060			595		538,901
Uruguay Government International Bond 4.375%, 01/23/2031			152		152,249
5.44%, 02/14/2037			303		309,402
5.75%, 10/28/2034			220		229,845

					1,230,397

Total Governments - Sovereign Bonds (cost $94,284,761)					94,064,817


GOVERNMENTS - SOVEREIGN AGENCIES – 1.1%
Belgium – 0.2%
Dexia SA Series E Zero Coupon, 01/21/2028^(a)	EUR		3,500		3,838,550
0.01%, 01/22/2027^(a)			7,200		8,147,583

					11,986,133

Canada – 0.5%
Canada Housing Trust No. 1 3.55%, 09/15/2032^(a)	CAD		37,285		27,057,743
4.25%, 03/15/2034^(a)			9,605		7,236,781

					34,294,524

France – 0.4%
SNCF Reseau Series E 1.875%, 03/30/2034^(a)	EUR		3,200		3,215,830
3.125%, 10/25/2028^(a)			9,800		11,317,487
5.00%, 10/10/2033			9,303		11,664,898

					26,198,215

Japan – 0.0%
Organization for Workers’ Retirement Allowance Mutual Aid Series 39 0.01%, 06/30/2026	JPY		3,000		18,855



66 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Series 44 0.005%, 09/28/2027	JPY		4,300	$	26,506

					45,361

Kazakhstan – 0.0%
Baiterek National Investment Holding JSC 4.65%, 10/01/2030^(a)	U.S.$		3,514		3,428,329
5.45%, 05/08/2028^(a)			290		290,652

					3,718,981

Total Governments - Sovereign Agencies (cost $73,496,025)					76,243,214


EMERGING MARKETS - CORPORATE BONDS – 0.9%
Industrial – 0.8%
Basic – 0.5%
Alpek SAB de CV 3.25%, 02/25/2031^(a)			200		166,426
Braskem Idesa SAPI 6.99%, 02/20/2032^(a)(f)(g)			3,386		2,037,390
Braskem Netherlands Finance BV 4.50%, 01/10/2028^(a)			9,951		4,736,676
JSW Steel Ltd. 3.95%, 04/05/2027^(a)			3,300		3,235,650
Periama Holdings LLC/DE 5.95%, 04/19/2026^(a)			2,478		2,474,208
Sappi Papier Holding GmbH 4.50%, 03/15/2032^(a)(h)	EUR		5,225		5,392,380
Sasol Financing USA LLC 8.75%, 05/03/2029^(a)	U.S.$		5,807		6,057,906
8.75%, 04/10/2033^(a)			3,090		3,071,772
Stillwater Mining Co. 4.00%, 11/16/2026^(a)			5,827		5,779,685
UPL Corp., Ltd. 4.625%, 06/16/2030^(a)			380		335,779

					33,287,872

Capital Goods – 0.0%
Ambipar Lux SARL 10.875%, 02/05/2033^(a)(f)(g)			6,320		859,394


Consumer Non-Cyclical – 0.1%
BRF GmbH 4.35%, 09/29/2026^(a)			1,475		1,465,250
Natura &Co Luxembourg Holdings SARL 4.125%, 05/03/2028^(a)			4,122		3,888,454

					5,353,704



ABFunds.com		AB Global Bond Fund 67

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Energy – 0.2%
Ecopetrol SA 6.875%, 04/29/2030	U.S.$		363	$	363,218
8.375%, 01/19/2036			4,781		4,840,045
8.625%, 01/19/2029			2,331		2,460,021
Gran Tierra Energy, Inc. 9.75%, 04/15/2031^(a)			200		174,750
Raizen Fuels Finance SA 5.70%, 01/17/2035^(a)(f)(g)			220		122,275
6.25%, 07/08/2032^(a)(f)(g)			1,242		692,093
6.45%, 03/05/2034^(a)(f)(g)			5,285		2,938,373
6.70%, 02/25/2037^(a)(f)(g)			3,880		2,129,941

					13,720,716

					53,221,686

Financial Institutions – 0.1%
Finance – 0.0%
Intercorp Financial Services, Inc. 4.125%, 10/19/2027^(a)			430		425,433


REITs – 0.1%
Mobiliare Latam SA/Mobiliare Latam Mexico SA de CV 6.75%, 11/10/2032^(a)			3,051		3,024,304

					3,449,737

Utility – 0.0%
Other Utility – 0.0%
Aegea Finance SARL 6.75%, 05/20/2029^(a)			1,541		1,490,394


Total Emerging Markets - Corporate Bonds (cost $73,703,243)					58,161,817


SUPRANATIONALS – 0.8%
European Union Series UFA 3.375%, 10/05/2054^(a)	EUR		30,274		30,719,985
4.00%, 04/04/2044^(a)			20,136		23,417,142


Total Supranationals (cost $55,332,965)					54,137,127


LOCAL GOVERNMENTS - REGIONAL BONDS – 0.7%
Japan – 0.7%
Japan Finance Organization for Municipalities Series G 0.05%, 02/12/2027^(a)			29,930		33,809,368
2.375%, 09/08/2027^(a)			9,345		10,716,683


Total Local Governments - Regional Bonds (cost $44,099,402)					44,526,051



68 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

EMERGING MARKETS - SOVEREIGNS – 0.6%
Costa Rica – 0.2%
Costa Rica Government International Bond 5.50%, 11/21/2030^(a)	EUR		7,750	$	9,125,166


Dominican Republic – 0.1%
Dominican Republic International Bond 5.95%, 01/25/2027^(a)	U.S.$		7,003		7,038,015


Mexico – 0.2%
Eagle Funding Luxco SARL 5.50%, 08/17/2030^(a)			14,545		14,581,362


Uzbekistan – 0.1%
Republic of Uzbekistan International Bond 5.10%, 02/25/2029^(a)	EUR		7,365		8,524,115


Total Emerging Markets - Sovereigns (cost $39,585,020)					39,268,658


QUASI-SOVEREIGNS – 0.5%
Quasi-Sovereign Bonds – 0.5%
Chile – 0.1%
Corp. Nacional del Cobre de Chile 3.75%, 01/15/2031^(a)	U.S.$		530		499,416
5.125%, 02/02/2033^(a)			211		208,299
5.95%, 01/08/2034^(a)			906		927,174
6.44%, 01/26/2036^(a)			750		789,319
Empresa de Transporte de Pasajeros Metro SA 3.65%, 05/07/2030^(a)			370		350,459
4.70%, 05/07/2050^(a)			370		311,540
Empresa Nacional del Petroleo 5.95%, 07/30/2034^(a)			280		282,422

					3,368,629

China – 0.0%
CNAC HK Finbridge Co., Ltd. 3.00%, 09/22/2030^(a)			540		505,594


Hong Kong – 0.0%
Airport Authority 2.10%, 04/30/2026^(a)(b)			250		248,438
3.50%, 01/12/2062^(a)			350		260,984

					509,422

India – 0.0%
Export-Import Bank of India 5.75%, 01/12/2056^(a)			271		266,137



ABFunds.com		AB Global Bond Fund 69

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Indonesia – 0.0%
Pertamina Persero PT 2.30%, 02/09/2031^(a)	U.S.$		570	$	500,460
4.15%, 02/25/2060^(a)			410		285,693
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara 4.125%, 05/15/2027^(a)			460		456,182
5.25%, 10/24/2042^(a)			205		180,846

					1,423,181

Kazakhstan – 0.0%
Development Bank of Kazakhstan JSC 5.25%, 10/23/2029^(a)			225		227,109
5.625%, 04/07/2030^(a)			240		245,025
Fund of National Welfare Samruk-Kazyna JSC 2.00%, 10/28/2026^(a)			473		464,737

					936,871

Malaysia – 0.0%
Petronas Capital Ltd. 2.48%, 01/28/2032^(a)			1,000		894,841
5.34%, 04/03/2035^(a)			500		513,470

					1,408,311

Mexico – 0.1%
Banco Nacional de Comercio Exterior SNC/Cayman Islands 5.875%, 05/07/2030^(a)			340		346,254
Comision Federal de Electricidad 3.35%, 02/09/2031^(a)			200		178,450
3.875%, 07/26/2033^(a)			200		170,950
5.70%, 01/24/2030^(a)			310		309,535
6.45%, 01/24/2035^(a)			840		833,910
6.50%, 01/28/2051^(a)			510		491,512
Series E 5.00%, 09/29/2036⁽ⁱ⁾			2,861		2,660,816

					4,991,427

Panama – 0.0%
Banco Nacional de Panama 2.50%, 08/11/2030^(a)			200		176,646


Peru – 0.0%
Corp. Financiera de Desarrollo SA 5.95%, 04/30/2029^(a)			230		237,161


Poland – 0.0%
Bank Gospodarstwa Krajowego 5.375%, 05/22/2033^(a)			265		267,650



70 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

6.25%, 07/09/2054^(a)	U.S.$		655	$	644,520

					912,170

Qatar – 0.0%
QatarEnergy 2.25%, 07/12/2031^(a)			540		473,834
3.30%, 07/12/2051^(a)			500		321,435

					795,269

Saudi Arabia – 0.2%
Gaci First Investment Co. 4.875%, 02/14/2035^(a)			506		485,276
5.125%, 02/14/2053^(a)			415		347,999
5.375%, 01/29/2054^(a)			1,030		892,778
Series E 3.375%, 10/14/2032^(a)	EUR		8,450		9,356,576

					11,082,629

South Africa – 0.1%
Transnet/South Africa 8.25%, 02/06/2028^(a)	U.S.$		5,512		5,699,408


United Arab Emirates – 0.0%
Abu Dhabi Crude Oil Pipeline LLC 4.60%, 11/02/2047^(a)			540		465,693
Abu Dhabi Ports Co. PJSC Series E 2.50%, 05/06/2031^(a)			280		248,595
MDGH GMTN RSC Ltd. 3.70%, 11/07/2049^(a)			520		363,371
Series G 2.50%, 06/03/2031^(a)			690		609,408
3.375%, 03/28/2032^(a)			260		237,278

					1,924,345

Total Quasi-Sovereigns (cost $35,709,021)					34,237,200


BANK LOANS – 0.2%
Industrial – 0.2%
Capital Goods – 0.0%
Quikrete Holdings, Inc. 5.92% (CME Term SOFR 1 Month + 2.25%), 03/19/2029^(j)			3,861		3,855,124


Consumer Cyclical - Restaurants – 0.0%
IRB Holding 6.18% (CME Term SOFR 1 Month + 2.50%), 12/15/2030^(j)			1,059		1,055,318



ABFunds.com		AB Global Bond Fund 71

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)		U.S. $ Value

Consumer Non-Cyclical – 0.2%
Hertz Corp. (The) 7.28% (CME Term SOFR 1 Month + 7.00%), 06/30/2028^(j)	U.S.$		10,429	$	7,691,355
Opal US LLC 6.70% (CME Term SOFR 3 Month + 3.00%), 04/28/2032^(j)			3,312		3,308,910

					11,000,265

Total Bank Loans (cost $17,568,298)					15,910,707


LOCAL GOVERNMENTS - US MUNICIPAL BONDS – 0.2%
United States – 0.2%
California Earthquake Authority Series 2022-A 5.60%, 07/01/2027			3,210		3,238,920
Commonwealth Financing Authority Series 2016-A 4.14%, 06/01/2038			2,640		2,471,611
State Board of Administration Finance Corp. Series 2020-A 2.15%, 07/01/2030			1,928		1,774,504
Series 2024-A 5.53%, 07/01/2034			4,802		5,031,756


Total Local Governments - US Municipal Bonds (cost $12,192,045)					12,516,791


LOCAL GOVERNMENTS - PROVINCIAL BONDS – 0.1%
Canada – 0.1%
Province of Quebec Canada 4.40%, 12/01/2055 (cost $9,157,774)			13,226		8,956,040


LOCAL GOVERNMENTS - CANADIAN MUNICIPAL BONDS – 0.0%
Canada – 0.0%
City of Calgary Canada 4.20%, 06/01/2034 (cost $2,562,178)			3,456		2,546,165


		Shares
COMMON STOCKS – 0.0%
Energy – 0.0%
Oil, Gas & Consumable Fuels – 0.0%
SandRidge Energy, Inc. (cost $1,387,701)			4,459		72,726



72 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


		Principal Amount (000)			U.S. $ Value

SHORT-TERM INVESTMENTS – 1.0%
Time Deposits – 0.6%
ANZ, Hong Kong 2.71%, 04/01/2026	AUD		2,683		$	1,850,836
BBH, New York 1.40%, 04/01/2026	NZD		0	**		141
2.65%, 04/01/2026	NOK		0	**		1
Citibank, London 0.85%, 04/01/2026	EUR		7,836			9,057,802
2.67%, 04/01/2026	GBP		2,563			3,392,061
Citibank, New York 2.98%, 04/01/2026	U.S.$		21,011			21,011,013
Royal Bank of Canada, Toronto 1.08%, 04/01/2026	CAD		4,388			3,154,422
SMBC, Tokyo 0.20%, 04/01/2026	JPY		563,494			3,550,575


Total Time Deposits (cost $42,016,851)						42,016,851


		Shares
Investment Companies – 0.4%
AB Fixed Income Shares, Inc. – Government Money Market Portfolio – Class AB, 3.50%^(k)(l)(m) (cost $27,401,580)			27,401,580			27,401,580


Total Short-Term Investments (cost $69,418,431)						69,418,431


Total Investments – 110.7% (cost $7,662,807,236)						7,416,303,705
Other assets less liabilities – (10.7)%						(716,186,741	)


Net Assets – 100.0%					$	6,700,116,964

FUTURES (see Note D)


Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation (Depreciation)
Purchased Contracts
Australian 10 Yr Bond Futures		1,589		June 2026	$	118,133,752	$	(916,901	)
Canadian 5 Yr Bond Futures		18		June 2026		1,468,493		(17,145	)
Canadian 10 Yr Bond Futures		5		June 2026		431,349		(8,626	)
Euro Buxl 30 Yr Bond Futures		218		June 2026		27,782,796		(282,189	)
Euro-BOBL Futures		639		June 2026		85,255,229		(1,182,550	)
Euro-BTP Futures		534		June 2026		71,770,794		(2,240,338	)
Euro-Bund Futures		22		June 2026		3,188,505		(21,510	)



ABFunds.com		AB Global Bond Fund 73

PORTFOLIO OF INVESTMENTS (continued)


Description	Number of Contracts		Expiration Month		Current Notional		Value and Unrealized Appreciation (Depreciation)
Japan 10 Yr Bond (OSE) Futures		148		June 2026	$	121,520,305	$	(1,429,130	)
Long Gilt Futures		10		June 2026		1,161,988		(21,085	)
U.S. 10 Yr Ultra Futures		30		June 2026		3,405,469		3,891
U.S. Long Bond (CBT) Futures		801		June 2026		91,213,875		(2,809,758	)
U.S. T-Note 2 Yr (CBT) Futures		249		June 2026		51,653,883		84,164
U.S. T-Note 5 Yr (CBT) Futures		8,479		June 2026		917,255,574		(4,413,558	)
U.S. T-Note 10 Yr (CBT) Futures		6		June 2026		666,281		(10,813	)

Sold Contracts
Australian 3 Yr Bond Futures		262		June 2026		18,737,373		41,133
Canadian 10 Yr Bond Futures		1,267		June 2026		109,303,911		2,195,004
Euro-BOBL Futures		54		June 2026		7,204,667		86,689
Euro-Bund Futures		1,911		June 2026		276,965,107		1,669,625
Euro-Schatz Futures		101		June 2026		12,345,345		93,017
U.S. 10 Yr Ultra Futures		921		June 2026		104,547,891		1,242,375
U.S. T-Note 2 Yr (CBT) Futures		342		June 2026		70,946,297		(11,547	)
U.S. Ultra Bond (CBT) Futures		244		June 2026		28,441,250		260,235

							$	(7,689,017	)

FORWARD CURRENCY EXCHANGE CONTRACTS (see Note D)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Australia and New Zealand Banking Group Ltd.		THB	1,908,212		USD	58,629		04/16/2026	$	703,182
Bank of America NA		JPY	82,572,110		USD	525,928		04/10/2026		5,278,331
Bank of America NA		MXN	308,384		USD	17,279		04/15/2026		91,334
Bank of America NA		EUR	17,892		USD	21,113		04/16/2026		417,996
Bank of New York Mellon Corp. (The)		EUR	619,994		USD	719,456		04/15/2026		2,378,410
Bank of New York Mellon Corp. (The)		CAD	655,418		USD	475,178		04/16/2026		3,735,148
Bank of New York Mellon Corp. (The)		EUR	20,761		USD	24,826		05/14/2026		780,002
Brown Brothers Harriman & Co.		JPY	64,948		USD	413		04/10/2026		3,875
Brown Brothers Harriman & Co.		EUR	4,133		USD	4,790		04/15/2026		10,019
Brown Brothers Harriman & Co.		CAD	4,288		USD	3,126		04/16/2026		42,170
Brown Brothers Harriman & Co.		EUR	4,124		USD	4,854		04/16/2026		83,973
Brown Brothers Harriman & Co.		EUR	1,099		USD	1,263		04/16/2026		(8,114	)
Brown Brothers Harriman & Co.		USD	320		EUR	279		04/16/2026		2,647
Brown Brothers Harriman & Co.		USD	1,176		EUR	992		04/16/2026		(28,596	)
Brown Brothers Harriman & Co.		USD	548		CAD	743		04/17/2026		(13,477	)
Brown Brothers Harriman & Co.		AUD	1,288		USD	893		04/22/2026		4,509
Brown Brothers Harriman & Co.		USD	15		AUD	21		04/22/2026		(219	)
Brown Brothers Harriman & Co.		IDR	1,284,776,529		USD	76,062		04/23/2026		380,789
Brown Brothers Harriman & Co.		GBP	241		EUR	278		04/24/2026		2,316
Brown Brothers Harriman & Co.		GBP	695		USD	929		04/24/2026		9,485
Citibank NA		CAD	199,576		USD	146,598		04/17/2026		3,036,611
Citibank NA		USD	32,533		INR	2,957,900		05/13/2026		(1,199,318	)
Citibank NA		COP	131,525,132		USD	35,545		05/14/2026		136,686
Citibank NA		USD	4,594		COP	17,150,052		05/14/2026		22,839
Citibank NA		USD	3,199		COP	11,878,197		05/14/2026		(890	)
Citibank NA		HUF	15,224,155		USD	45,322		05/20/2026		(300,206	)



74 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Deutsche Bank AG		AUD	157,241		USD	109,475		04/15/2026	$	1,005,315
Goldman Sachs Bank USA		BRL	314,195		USD	60,592		04/02/2026		(65,506	)
Goldman Sachs Bank USA		USD	60,198		BRL	314,195		04/02/2026		459,629
Goldman Sachs Bank USA		USD	16,599		EUR	14,399		04/15/2026		54,583
Goldman Sachs Bank USA		GBP	118,947		USD	160,825		04/24/2026		3,391,831
Goldman Sachs Bank USA		USD	43,257		MYR	172,580		06/18/2026		(534,994	)
HSBC Bank USA		BRL	314,195		USD	60,198		04/02/2026		(459,629	)
HSBC Bank USA		USD	59,597		BRL	314,195		04/02/2026		1,060,234
HSBC Bank USA		KRW	17,105,530		USD	11,847		04/14/2026		472,410
HSBC Bank USA		EUR	51,373		USD	59,196		04/15/2026		(222,012	)
HSBC Bank USA		CNH	1,437,635		USD	208,662		04/16/2026		(297,162	)
HSBC Bank USA		JPY	463,118		USD	2,923		04/16/2026		1,254
HSBC Bank USA		USD	81,557		JPY	12,964,978		04/16/2026		243,288
HSBC Bank USA		ZAR	65,598		USD	3,877		04/16/2026		4,330
HSBC Bank USA		ZAR	138,088		USD	8,108		04/16/2026		(43,265	)
HSBC Bank USA		BRL	314,195		USD	59,226		05/05/2026		(1,033,733	)
HSBC Bank USA		USD	16,765		CLP	15,306,622		05/14/2026		(229,472	)
HSBC Bank USA		HUF	2,176,733		USD	6,514		05/20/2026		(8,626	)
JPMorgan Chase Bank NA		EUR	1,299		USD	1,557		04/16/2026		54,561
JPMorgan Chase Bank NA		GBP	2,104		USD	2,818		04/16/2026		33,086
JPMorgan Chase Bank NA		USD	10,611		JPY	1,685,275		04/16/2026		22,351
Morgan Stanley Capital Services LLC		EUR	572,657		USD	687,104		04/16/2026		24,742,194
Morgan Stanley Capital Services LLC		PLN	38,901		USD	10,548		04/16/2026		68,986
Morgan Stanley Capital Services LLC		ZAR	199,643		USD	11,865		04/16/2026		79,296
Morgan Stanley Capital Services LLC		PEN	23,646		USD	6,752		05/14/2026		(26,984	)
Morgan Stanley Capital Services LLC		MYR	172,027		USD	43,643		06/18/2026		1,057,265
NatWest Markets PLC		USD	38,923		CAD	53,442		04/16/2026		(482,175	)
Societe Generale		GBP	429,588		USD	574,699		04/16/2026		6,108,780
Standard Chartered Bank		EUR	13,015		USD	15,074		04/15/2026		20,946
Standard Chartered Bank		IDR	123,250,852		USD	7,271		04/23/2026		11,174
Standard Chartered Bank		INR	2,938,533		USD	31,806		05/13/2026		677,755
Standard Chartered Bank		PEN	40,460		USD	11,621		05/14/2026		21,856
Standard Chartered Bank		PEN	122,487		USD	35,097		05/14/2026		(19,520	)
UBS AG		USD	2,120		EUR	1,840		04/16/2026		8,221

									$	51,745,769



ABFunds.com		AB Global Bond Fund 75

PORTFOLIO OF INVESTMENTS (continued)

CENTRALLY CLEARED CREDIT DEFAULT SWAPS (see Note D)


Description	Fixed Rate (Pay) Receive			Payment Frequency		Implied Credit Spread at March 31, 2026			Notional Amount (000)			Market Value			Upfront Premiums Paid (Received)			Unrealized Appreciation (Depreciation)
Buy Contracts
iTraxx Australia Series 45, 5 Year Index, 6/20/2031*		1.00	%		Quarterly		0.92	%		USD	55,700	$	(237,654	)	$	(352,468	)	$	114,814

Sale Contracts
CDX-NAHY Series 45, 5 Year Index, 12/20/2030*		5.00			Quarterly		3.65			USD	16,920		918,872			956,347			(37,475	)
CDX-NAHY Series 46, 5 Year Index, 6/20/2031*		5.00			Quarterly		3.86			USD	108,509		5,376,792			5,134,298			242,494
CDX-NAIG Series 46, 5 Year Index, 6/20/2031*		1.00			Quarterly		0.63			USD	55,700		980,522			937,800			42,722
iTraxx XOVER Series 45, 5 Year Index, 6/20/2031*		5.00			Quarterly		3.53			EUR	8,180		609,114			627,507			(18,393	)

												$	7,647,646		$	7,303,484		$	344,162

*	Termination date

CENTRALLY CLEARED INTEREST RATE SWAPS (see Note D)


				Rate Type
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)
BRL	299,168		01/02/2029	1 Day CDI		12.618%	Maturity	$	(1,229,907	)	$	– 0	–	$	(1,229,907	)
BRL	129,732		01/02/2029	1 Day CDI		12.682%	Maturity		(502,558	)		– 0	–		(502,558	)
BRL	125,671		01/02/2029	1 Day CDI		13.220%	Maturity		(212,258	)		– 0	–		(212,258	)
BRL	115,580		01/02/2029	1 Day CDI		13.020%	Maturity		(280,281	)		– 0	–		(280,281	)
BRL	110,075		01/02/2029	1 Day CDI		12.555%	Maturity		(453,552	)		– 0	–		(453,552	)
BRL	110,075		01/02/2029	1 Day CDI		12.490%	Maturity		(480,929	)		– 0	–		(480,929	)
CNY	223,010		02/20/2030	China 7-Day Reverse Repo Rate		1.602%	Quarterly		35,905			– 0	–		35,905
CNY	428,453		04/03/2030	China 7-Day Reverse Repo Rate		1.591%	Quarterly		52,228			– 0	–		52,228
CNY	396,687		04/03/2030	China 7-Day Reverse Repo Rate		1.583%	Quarterly		29,442			– 0	–		29,442
CNY	365,530		07/21/2030	China 7-Day Reverse Repo Rate		1.530%	Quarterly		(129,389	)		– 0	–		(129,389	)
CNY	441,560		07/28/2030	China 7-Day Reverse Repo Rate		1.591%	Quarterly		13,223			12,005			1,218
NZD	75,120		03/18/2035	3 Month BKBM		4.153%	Quarterly/ Semi-Annual		(453,874	)		– 0	–		(453,874	)
NZD	38,130		03/18/2035	3 Month BKBM		4.155%	Quarterly/ Semi-Annual		(226,233	)		– 0	–		(226,233	)
NZD	40,650		12/05/2035	3 Month BKBM		3.980%	Quarterly/ Semi-Annual		(423,936	)		– 0	–		(423,936	)
JPY	1,124,000		03/09/2028	1 Day TONAR		1.233%	Annual		(12,944	)		– 0	–		(12,944	)

								$	(4,275,063	)	$	12,005		$	(4,287,068	)



76 AB Global Bond Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)

REVERSE REPURCHASE AGREEMENTS (see Note D)


Broker	Currency		Principal Amount (000)		Interest Rate			Maturity		U.S. $ Value at March 31, 2026
Jefferies LLC^†		EUR		4,938		2.25	%		—	$	5,726,600

^†	The reverse repurchase agreement matures on demand. Interest rate resets daily and the rate shown is the rate in effect on March 31, 2026.

The type of underlying collateral and the remaining maturity of open reverse repurchase agreements on statements of assets and liabilities is as follows:

Overnight and
Continuous

Up to 30 Days

31-90 Days

Greater than
90 Days

Total

Emerging Markets – Corporate Bonds

5,726,600

– 0

–

– 0

–

– 0

–

5,726,600

**	Principal amount less than 500.

(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 March 31, 2026, the aggregate market value of these securities amounted to $3,597,584,590 or 53.69% of net assets.

(b)	Securities are perpetual and, thus, do not have a predetermined maturity date. The date shown, if applicable, reflects the next call date.

(c)	Floating Rate Security. Stated interest/floor/ceiling rate was in effect at March 31, 2026.

(d)	Coupon rate adjusts periodically based upon a predetermined schedule. Stated interest rate in effect at March 31, 2026.

(e)	Pay-In-Kind Payments (PIK). The issuer may pay cash interest and/or interest in additional debt securities. Rates shown are the rates in effect at March 31, 2026.

(f)	Defaulted.

(g)	Non-income producing security.

(h)	Position, or a portion thereof, has been segregated to collateralize reverse repurchase agreements.

(i)	Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities, which represent 0.04% of net assets as of March 31, 2026, are considered illiquid and restricted. Additional information regarding such securities follows:


144A/Restricted & Illiquid Securities	Acquisition Date		Cost		Market Value		Percentage of Net Assets
Comision Federal de Electricidad Series E 5.00%, 09/29/2036		06/23/2021	$	2,950,876	$	2,660,816		0.04	%

(j)	The stated coupon rate represents the greater of the SOFR or an alternate base rate such as the PRIME or the SOFR/PRIME floor rate plus a spread at March 31, 2026.

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

(l)	To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(m)	Affiliated investments.



ABFunds.com		AB Global Bond Fund 77

PORTFOLIO OF INVESTMENTS (continued)

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CLP – Chilean Peso

CNH – Chinese Yuan Renminbi (Offshore)

CNY – Chinese Yuan Renminbi

COP – Colombian Peso

EUR – Euro

GBP – Great British Pound

HUF – Hungarian Forint

IDR – Indonesian Rupiah

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

MYR – Malaysian Ringgit

NOK – Norwegian Krone

NZD – New Zealand Dollar

PEN – Peruvian Sol

PLN – Polish Zloty

THB – Thailand Baht

USD – United States Dollar

ZAR – South African Rand

Glossary:

ABS – Asset-Backed Securities

BKBM – Bank Bill Reference Rate (New Zealand)

BOBL – Bundesobligationen

BTP – Buoni del Tesoro Poliennali

CBT – Chicago Board of Trade

CDI – Brazil CETIP Interbank Deposit Rate

CDX-NAHY – North American High Yield Credit Default Swap Index

CDX-NAIG – North American Investment Grade Credit Default Swap Index

CLO – Collateralized Loan Obligations

CMBS – Commercial Mortgage-Backed Securities

CME – Chicago Mercantile Exchange

GMTN – Global Medium Term Note

JSC – Joint Stock Company

MTN – Medium Term Note

OAT – Obligations Assimilables du Trésor

OSE – Osaka Securities Exchange

PJSC – Public Joint Stock Company

REIT – Real Estate Investment Trust

SOFR – Secured Overnight Financing Rate

TBA – To Be Announced

TONAR – Tokyo Overnight Average Rate

See notes to financial statements.



78 AB Global Bond Fund		ABFunds.com

STATEMENT OF ASSETS & LIABILITIES

March 31, 2026 (unaudited)


Assets
Investments in securities, at value
Unaffiliated issuers (cost $7,635,405,656)	$	7,388,902,125
Affiliated issuers (cost $27,401,580)		27,401,580
Cash		23,608
Cash collateral due from broker		51,875,775
Foreign currencies, at value (cost $761,869)		759,535
Receivable for investment securities sold and foreign currency transactions		262,268,018
Unaffiliated interest receivable		63,057,448
Unrealized appreciation on forward currency exchange contracts		56,719,667
Receivable for capital stock sold		5,292,738
Receivable for variation margin on centrally cleared swaps		2,512,360
Receivable for variation margin on futures		1,545,847
Affiliated dividends receivable		279,943
Receivable due from Adviser		16,414

Total assets		7,860,655,058

Liabilities
Payable for investment securities purchased and foreign currency transactions		1,132,393,678
Payable for capital stock redeemed		7,428,259
Payable for reverse repurchase agreements		5,726,600
Unrealized depreciation on forward currency exchange contracts		4,973,898
Dividends payable		2,906,044
Cash collateral due to broker		2,729,000
Advisory fee payable		2,519,755
Payable for capital gains taxes		290,825
Transfer Agent fee payable		132,520
Administrative fee payable		104,034
Distribution fee payable		55,607
Directors’ fee payable		15,167
Accrued expenses		1,262,707

Total liabilities		1,160,538,094

Net Assets	$	6,700,116,964

Composition of Net Assets
Capital stock, at par	$	975,823
Additional paid-in capital		7,701,171,893
Accumulated loss		(1,002,030,752	)

	$	6,700,116,964

Net Asset Value Per Share—27 billion shares of capital stock authorized, $.001 par value


Class	Net Assets		Shares Outstanding		Net Asset Value

A	$	242,365,275		35,257,127	$	6.87	*

C	$	6,151,684		891,923	$	6.90

Advisor	$	4,386,694,730		638,813,510	$	6.87

I	$	639,429,906		93,173,449	$	6.86

Z	$	1,425,475,369		207,687,344	$	6.86

*	The maximum offering price per share for Class A shares was $7.17, which reflects a sales charge of 4.25%.

See notes to financial statements.



ABFunds.com		AB Global Bond Fund 79

STATEMENT OF OPERATIONS

Six Months Ended March 31, 2026 (unaudited)


Investment Income
Interest (net of foreign taxes withheld of $122,211)	$	136,000,284
Dividends
Affiliated issuers		2,219,537
Unaffiliated issuers		2,667		$	138,222,488

Expenses
Advisory fee (see Note B)		15,078,826
Transfer agency—Class A		47,924
Transfer agency—Class C		1,374
Transfer agency—Advisor Class		812,197
Transfer agency—Class I		192,091
Transfer agency—Class Z		153,191
Distribution fee—Class A		318,113
Distribution fee—Class C		33,372
Custody and accounting		406,558
Registration fees		125,072
Printing		80,506
Administrative		70,190
Audit and tax		64,648
Legal		50,098
Directors’ fees		37,811
Miscellaneous		62,959

Total expenses before interest expense		17,534,930
Interest expense		60,413

Total expenses		17,595,343
Less: expenses waived and reimbursed by the Adviser (see Note B)		(117,494	)

Net expenses					17,477,849

Net investment income					120,744,639

Realized and Unrealized Gain (Loss) on Investment and Foreign Currency Transactions
Net realized gain (loss) on:
Investment transactions^(a)					249,258
Forward currency exchange contracts					39,389,242
Futures					(7,038,768	)
Swaps					614,860
Foreign currency transactions					36,609,742
Net change in unrealized appreciation (depreciation) on:
Investments^(b)					(217,163,190	)
Forward currency exchange contracts					42,231,141
Futures					(4,604,250	)
Swaps					(5,802,029	)
Foreign currency denominated assets and liabilities					(681,371	)

Net loss on investment and foreign currency transactions					(116,195,365	)

Net Increase in Net Assets from Operations				$	4,549,274

(a)	Net of foreign realized capital gains taxes of $270,684.

(b)	Net of decrease in accrued foreign capital gains taxes on unrealized gains of $30,021.

See notes to financial statements.



80 AB Global Bond Fund		ABFunds.com

STATEMENT OF CHANGES IN NET ASSETS


	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30, 2025
Increase (Decrease) in Net Assets from Operations
Net investment income	$	120,744,639		$	214,418,127
Net realized gain (loss) on investment and foreign currency transactions		69,824,334			(61,774,940	)
Net change in unrealized appreciation (depreciation) on investments and foreign currency denominated assets and liabilities		(186,019,699	)		27,536,838

Net increase in net assets from operations		4,549,274			180,180,025
Distributions to Shareholders
Class A		(4,392,431	)		(9,376,017	)
Class C		(89,565	)		(199,715	)
Advisor Class		(79,951,743	)		(143,366,976	)
Class I		(11,800,266	)		(21,809,834	)
Class Z		(25,863,642	)		(33,477,589	)
Return of Capital
Class A		– 0	–		(235,040	)
Class C		– 0	–		(5,006	)
Advisor Class		– 0	–		(3,593,936	)
Class I		– 0	–		(546,731	)
Class Z		– 0	–		(839,219	)
Capital Stock Transactions
Net increase		348,033,366			679,381,459

Total increase		230,484,993			646,111,421
Net Assets
Beginning of period		6,469,631,971			5,823,520,550

End of period	$	6,700,116,964		$	6,469,631,971

See notes to financial statements.



ABFunds.com		AB Global Bond Fund 81

NOTES TO FINANCIAL STATEMENTS

March 31, 2026 (unaudited)

NOTE A

Significant Accounting Policies

AB Global Bond Fund, Inc. (the “Fund”) is organized as a Maryland corporation and is registered under the Investment Company Act of 1940 (the “1940 Act”) as a diversified, open-end management investment company. The Fund offers Class A, Class C, Advisor Class, Class I and Class Z shares. Class B, Class K, Class R and Class T shares have been authorized but currently are not offered. Effective May 20, 2024, Class R and Class K were liquidated. Class A shares are sold with a front-end sales charge of up to 4.25% for purchases not exceeding $1,000,000. With respect to purchases of $1,000,000 or more, Class A shares redeemed within one year of purchase may be subject to a contingent deferred sales charge of 1%. Class C shares are subject to a contingent deferred sales charge of 1% on redemptions made within the first year after purchase, and 0% after the first year of purchase. Class C shares automatically convert to Class A shares eight years after the end of the calendar month of purchase. Advisor Class, Class I and Class Z shares are sold without an initial or contingent deferred sales charge and are not subject to ongoing distribution expenses. All nine classes of shares have identical voting, dividend, liquidation and other rights, except that the classes bear different distribution and transfer agency expenses. Each class has exclusive voting rights with respect to its distribution plan. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Fund.

1. Security Valuation

Portfolio securities are valued at market value determined on the basis of market quotations or, if market quotations are not readily available or are unreliable, at “fair value” as determined in accordance with procedures approved by and under the oversight of the Fund’s Board of Directors (the “Board”). Pursuant to these procedures, AllianceBernstein L.P. (the “Adviser”) serves as the Fund’s valuation designee pursuant to Rule 2a-5 of the 1940 Act. In this capacity, the Adviser is responsible, among other things, for making all fair value determinations relating to the Fund’s portfolio investments, subject to the Board’s oversight.

In general, the market values of securities which are readily available and deemed reliable are determined as follows: securities listed on a national securities exchange (other than securities listed on the NASDAQ Stock Market, Inc. (“NASDAQ”)) or on a foreign securities exchange are valued at the last sale price



82 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

at the close of the exchange or foreign securities exchange. If there has been no sale on such day, the securities are valued at the last traded price from the previous day. Securities listed on more than one exchange are valued by reference to the principal exchange on which the securities are traded; securities listed only on NASDAQ are valued in accordance with the NASDAQ Official Closing Price; listed and over-the-counter (“OTC”) options, including flexible exchange-traded options (“Flex Options”), are typically valued at transaction price on the trade date. On days when a trade does not occur, these options are valued using models that consider the terms of the option and relevant market inputs; open futures are valued using the closing settlement price or, in the absence of such a price, the most recent quoted bid price. If there are no quotations available for the day of valuation, the last available closing settlement price is used; U.S. Government securities and any other debt instruments having 60 days or less remaining until maturity are generally valued at market by an independent pricing vendor, if a market price is available. If a market price is not available, the securities are valued at amortized cost. This methodology is commonly used for short-term securities that have an original maturity of 60 days or less, as well as short-term securities that had an original term to maturity that exceeded 60 days. In instances when amortized cost is utilized, the Valuation Committee (the “Committee”) must reasonably conclude that the utilization of amortized cost is approximately the same as the fair value of the security. Factors the Committee will consider include, but are not limited to, an impairment of the creditworthiness of the issuer or material changes in interest rates. Fixed-income securities, including mortgage-backed and asset-backed securities, may be valued on the basis of prices provided by a pricing service or at a price obtained from one or more of the major broker-dealers. In cases where broker-dealer quotes are obtained, the Adviser may establish procedures whereby changes in market yields or spreads are used to adjust, on a daily basis, a recently obtained quoted price on a security. Swaps and other derivatives are valued daily, primarily using independent pricing services, independent pricing models using market inputs, as well as third party broker-dealers or counterparties. Open-end mutual funds are valued at the closing net asset value per share, while exchange traded funds are valued at the closing market price per share.

Securities for which market quotations are not readily available (including restricted securities) or are deemed unreliable are valued at fair value as deemed appropriate by the Adviser. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, analysis of the issuer’s financial statements or other available documents. In addition, the Fund may use fair value pricing for securities primarily traded in non-U.S. markets because most foreign markets close well before the Fund values its securities at 4:00 p.m., Eastern Time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect



ABFunds.com		AB Global Bond Fund 83

NOTES TO FINANCIAL STATEMENTS (continued)

the value of those securities. To account for this, the Fund generally values many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available.

2. Fair Value Measurements

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values as described in Note A.1 above). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

Level 1—quoted prices in active markets for identical investments

•

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

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 are 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.

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly



84 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

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.

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.

Bank loan prices are provided by third party pricing services and consist of a composite of the quotes received by the vendor into a consensus price. Certain bank loans are classified as Level 3, as a significant input used in the fair value measurement of these instruments is the market quotes that are received by the vendor and these inputs are not observable.

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.



ABFunds.com		AB Global Bond Fund 85

NOTES TO FINANCIAL STATEMENTS (continued)

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of March 31, 2026:

Investments in
Securities

Level 1

Level 2

Level 3

Total

Assets:

Governments – Treasuries

– 0

–

2,996,432,673

– 0

–

2,996,432,673

Corporates – Investment Grade

– 0

–

1,709,900,252

– 0

–

1,709,900,252

Mortgage Pass-Throughs

– 0

–

922,793,595

– 0

–

922,793,595

Collateralized Mortgage Obligations

– 0

–

267,041,872

– 0

–

267,041,872

Collateralized Loan Obligations

– 0

–

231,827,303

– 0

–

231,827,303

Commercial Mortgage-Backed Securities

– 0

–

214,491,252

– 0

–

214,491,252

Asset-Backed Securities

– 0

–

177,376,338

– 0

–

177,376,338

Covered Bonds

– 0

–

161,656,273

– 0

–

161,656,273

Corporates – Non-Investment Grade

– 0

–

127,469,225

– 0

–

127,469,225

Emerging Markets – Treasuries

– 0

–

97,255,178

– 0

–

97,255,178

Governments – Sovereign Bonds

– 0

–

94,064,817

– 0

–

94,064,817

Governments – Sovereign Agencies

– 0

–

76,243,214

– 0

–

76,243,214

Emerging Markets – Corporate Bonds

– 0

–

58,161,817

– 0

–

58,161,817

Supranationals

– 0

–

54,137,127

– 0

–

54,137,127

Local Governments – Regional Bonds

– 0

–

44,526,051

– 0

–

44,526,051

Emerging Markets – Sovereigns

– 0

–

39,268,658

– 0

–

39,268,658

Quasi-Sovereigns

– 0

–

34,237,200

– 0

–

34,237,200

Bank Loans

– 0

–

15,910,707

– 0

–

15,910,707

Local Governments – US Municipal Bonds

– 0

–

12,516,791

– 0

–

12,516,791

Local Governments – Provincial Bonds

– 0

–

8,956,040

– 0

–

8,956,040

Local Governments – Canadian Municipal Bonds

– 0

–

2,546,165

– 0

–

2,546,165

Common Stocks

72,726

– 0

–

– 0

–

72,726

Short-Term Investments:

Time Deposits

42,016,851

– 0

–

– 0

–

42,016,851

Investment Companies

27,401,580

– 0

–

– 0

–

27,401,580

Total Investments in Securities

69,491,157

7,346,812,548

– 0

–

7,416,303,705

Other Financial Instruments*:

Assets

Futures

5,676,133

– 0

–

– 0

–

5,676,133

^†

Forward Currency Exchange Contracts

– 0

–

56,719,667

– 0

–

56,719,667

Centrally Cleared Credit Default Swaps

– 0

–

7,885,300

– 0

–

7,885,300

^†

Centrally Cleared Interest Rate Swaps

– 0

–

130,798

– 0

–

130,798

^†

Liabilities

Futures

(13,365,150

)

– 0 –

– 0

–

(13,365,150

)^†

Forward Currency Exchange Contracts

– 0

–

(4,973,898

)

– 0

–

(4,973,898

)

Centrally Cleared Credit Default Swaps

– 0

–

(237,654

)

– 0

–

(237,654

)^†

Centrally Cleared Interest Rate Swaps

– 0

–

(4,405,861

)

– 0

–

(4,405,861

)^†

Total

61,802,140

7,401,930,900

– 0

–

7,463,733,040

Other financial instruments include 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.

^†

Only variation margin receivable (payable) at period end is reported within the statement of assets and liabilities. This amount reflects cumulative unrealized appreciation (depreciation) on futures and centrally cleared swaps as reported in the portfolio of investments. Where applicable, centrally cleared swaps with upfront premiums are presented here at market value.



86 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

3. Currency Translation

Assets and liabilities denominated in foreign currencies and commitments under forward currency exchange contracts are translated into U.S. dollars at the mean of the quoted bid and ask prices of such currencies against the U.S. dollar. Purchases and sales of portfolio securities are translated into U.S. dollars at the rates of exchange prevailing when such securities were acquired or sold. Income and expenses are translated into U.S. dollars at the rates of exchange prevailing when accrued.

Net realized gain or loss on foreign currency transactions represents foreign exchange gains and losses from sales and maturities of foreign fixed income investments, holding of foreign currencies, currency gains or losses realized between the trade and settlement dates on foreign investment transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains and losses from valuing foreign currency denominated assets and liabilities at period end exchange rates are reflected as a component of net unrealized appreciation or depreciation of foreign currency denominated assets and liabilities.

4. Taxes

It is the Fund’s policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its investment company taxable income and net realized gains, if any, to shareholders. Therefore, no provisions for federal income or excise taxes are required. The Fund may be subject to taxes imposed by countries in which it invests. Such taxes are generally based on income and/or capital gains earned or repatriated. Taxes are accrued and applied to net investment income, net realized gains and net unrealized appreciation/depreciation as such income and/or gains are earned.

In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Fund’s tax positions taken or expected to be taken on federal and state income tax returns for all open tax years (the current and the prior three tax years) and has concluded that no provision for income tax is required in the Fund’s financial statements.

5. Investment Income and Investment Transactions

Dividend income is recorded on the ex-dividend date or as soon as the Fund is informed of the dividend. Interest income is accrued daily. Investment transactions are accounted for on the date the securities are purchased or sold. Investment gains or losses are determined on the identified cost basis. Non-cash dividends, if any, are recorded on the ex-dividend date at the fair value of the securities received. The Fund amortizes premiums and accretes discounts as adjustments to interest income. The Fund accounts for distributions received



ABFunds.com		AB Global Bond Fund 87

NOTES TO FINANCIAL STATEMENTS (continued)

from real estate investment trust (“REIT”) investments or from regulated investment companies as dividend income, realized gain, or return of capital based on information provided by the REIT or the investment company.

6. Class Allocations

All income earned and expenses incurred by the Fund are borne on a pro-rata basis by each settled class of shares, based on the proportionate interest in the Fund represented by the net assets of such class, except for class specific expenses which are allocated to the respective class. Realized and unrealized gains and losses are allocated among the various share classes based on respective net assets.

7. Dividends and Distributions

Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. Income dividends and capital gains distributions are determined in accordance with federal tax regulations and may differ from those determined in accordance with U.S. GAAP. To the extent these differences are permanent, such amounts are reclassified within the capital accounts based on their federal tax basis treatment; temporary differences do not require such reclassification.

8. Cash and Short-Term Investments

Cash and short-term investments include cash on hand and short-term investments with maturities of less than one year when purchased.

9. Segment Information

The Fund represents a single operating segment. An operating segment is defined in U.S. GAAP as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Fund’s President is the CODM. The CODM monitors the operating results of the Fund as a whole and the pre-determined Fund’s long term investment strategy, which is executed by the portfolio management group. The qualitative and quantitative information contained within the financial statements is used by the CODM to assess the segment’s performance versus the Fund’s comparative benchmark and to make resource allocation decisions. Segment assets are reflected on the statement of assets and liabilities and segment expenses are listed on the statement of operations.

NOTE B

Advisory Fee and Other Transactions with Affiliates

Under the terms of the investment advisory agreement, the Fund pays the Adviser an advisory fee at an annual rate of .50% of the first $2.5 billion, .45% of



88 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

the next $2.5 billion and .40% in excess of $5 billion of the Fund’s average daily net assets. The fee is accrued daily and paid monthly.

Pursuant to the investment advisory agreement, the Fund may reimburse the Adviser for certain legal and accounting services provided to the Fund by the Adviser. For the six months ended March 31, 2026, the reimbursement for such services amounted to $70,190.

The Fund compensates AllianceBernstein Investor Services, Inc. (“ABIS”), a wholly-owned subsidiary of the Adviser, under a Transfer Agency Agreement for providing personnel and facilities to perform transfer agency services for the Fund. ABIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. Such compensation retained by ABIS amounted to $452,703 for the six months ended March 31, 2026.

AllianceBernstein Investments, Inc. (the “Distributor”), a wholly-owned subsidiary of the Adviser, serves as the distributor of the Fund’s shares. The Distributor has advised the Fund that it has retained front-end sales charges of $1,232 from the sale of Class A shares and received $99 and $92 in contingent deferred sales charges imposed upon redemptions by shareholders of Class A and Class C shares, respectively, for the six months ended March 31, 2026.

The Fund may invest in AB Government Money Market Portfolio which has a contractual annual advisory fee rate of .20% of the portfolio’s average daily net assets and bears its own expenses. Effective September 1, 2023, the Adviser has contractually agreed to waive .05% of the advisory fee of AB Government Money Market Portfolio (resulting in a net advisory fee of .15%) until August 31, 2024. In connection with the investment by the Fund in AB Government Money Market Portfolio, the Adviser has contractually agreed to waive its advisory fee from the Fund in an amount equal to the Fund’s pro rata share of the effective advisory fee of AB Government Money Market Portfolio, as borne indirectly by the Fund as an acquired fund fee and expense. For the six months ended March 31, 2026, such waiver amounted to $117,494.

A summary of the Fund’s transactions in AB mutual funds for the six months ended March 31, 2026 is as follows:


Fund	Market Value 9/30/25 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 3/31/26 (000)		Dividend Income (000)
AB Government Money Market Portfolio	$	117,693	$	1,193,516	$	1,283,807	$	27,402	$	2,220



ABFunds.com		AB Global Bond Fund 89

NOTES TO FINANCIAL STATEMENTS (continued)

NOTE C

Distribution Services Agreement

The Fund has adopted a Distribution Services Agreement (the “Agreement”) pursuant to Rule 12b-1 under the 1940 Act. Under the Agreement, the Fund pays distribution and servicing fees to the Distributor at an annual rate of up to .30% of the Fund’s average daily net assets attributable to Class A shares and 1% of the Fund’s average daily net assets attributable to Class C shares. There are no distribution and servicing fees on Advisor Class, Class I and Class Z shares. Payments under the Agreement in respect of Class A shares are currently limited to an annual rate of .25% of Class A shares’ average daily net assets. The fees are accrued daily and paid monthly. The Agreement provides that the Distributor will use such payments in their entirety for distribution assistance and promotional activities. Since the commencement of the Fund’s operations, the Distributor has incurred expenses in excess of the distribution costs reimbursed by the Fund in the amount of $15,625,473 for Class C shares. While such costs may be recovered from the Fund in future periods so long as the Agreement is in effect, and the share class is active, the rate of the distribution and servicing fees payable under the Agreement may not be increased without a shareholder vote. In accordance with the Agreement, there is no provision for recovery of unreimbursed distribution costs incurred by the Distributor beyond the current fiscal year for Class A shares. The Agreement also provides that the Adviser may use its own resources to finance the distribution of the Fund’s shares.

NOTE D

Investment Transactions

Purchases and sales of investment securities (excluding short-term investments) for the six months ended March 31, 2026, were as follows:


	Purchases		Sales
Investment securities (excluding U.S. government securities)	$	3,380,839,473	$	2,922,831,815
U.S. government securities		6,861,460,686		6,871,337,981

The cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes. Accordingly, gross unrealized appreciation and unrealized depreciation are as follows:


Gross unrealized appreciation	$	120,215,784
Gross unrealized depreciation		(326,605,469	)

Net unrealized depreciation	$	(206,389,685	)

1. Derivative Financial Instruments

The Fund may use derivatives in an effort to earn income and enhance returns, to replace more traditional direct investments, to obtain exposure to otherwise inaccessible markets (collectively, “investment purposes”), or to hedge or adjust the risk profile of its portfolio.



90 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

The principal types of derivatives utilized by the Fund, as well as the methods in which they may be used are:

•

Forward Currency Exchange Contracts

The Fund may enter into forward currency exchange contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to hedge certain firm purchase and sale commitments denominated in foreign currencies and for non-hedging purposes as a means of making direct investments in foreign currencies, as described below under “Currency Transactions”.

A forward currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The gain or loss arising from the difference between the original contract and the closing of such contract would be included in net realized gain or loss on forward currency exchange contracts. Fluctuations in the value of open forward currency exchange contracts are recorded for financial reporting purposes as unrealized appreciation and/or depreciation by the Fund. Risks may arise from the potential inability of a counterparty to meet the terms of a contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

During the six months ended March 31, 2026, the Fund held forward currency exchange contracts for hedging and non-hedging purposes.

•

Futures

The Fund may buy or sell futures for investment purposes or for the purpose of hedging its portfolio against adverse effects of potential movements in the market. The Fund bears the market risk that arises from changes in the value of these instruments and the imperfect correlation between movements in the price of the futures and movements in the price of the assets, reference rates or indices which they are designed to track. Among other things, the Fund may purchase or sell futures for foreign currencies or options thereon for non-hedging purposes as a means of making direct investment in foreign currencies, as described below under “Currency Transactions”.

At the time the Fund enters into futures, the Fund deposits with the broker or segregates at its custodian cash or securities as collateral to satisfy initial margin requirements set by the exchange on which the transaction is effected. Pursuant to the contract, with respect to cash collateral, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract; in the case of securities collateral, the Fund agrees to adjust the securities position held in the segregated account accordingly. Such receipts, payments or adjustments are known as variation margin and are recorded by the Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty



ABFunds.com		AB Global Bond Fund 91

NOTES TO FINANCIAL STATEMENTS (continued)

to meet the terms of the contract. The credit/counterparty risk for exchange-traded futures is generally less than privately negotiated futures, since the clearinghouse, which is the issuer or counterparty to each exchange-traded future, has robust risk mitigation standards, including the requirement to provide initial and variation margin. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the time it was closed.

Use of long futures subjects the Fund to risk of loss in excess of the amounts shown on the statement of assets and liabilities, up to the notional value of the futures. Use of short futures subjects the Fund to unlimited risk of loss. Under some circumstances, futures exchanges may establish daily limits on the amount that the price of futures can vary from the previous day’s settlement price, which could effectively prevent liquidation of unfavorable positions.

During the six months ended March 31, 2026, the Fund held futures for hedging and non-hedging purposes.

•

Swaps

The Fund may enter into swaps for investment purposes or to hedge its exposure to interest rates, credit risk or inflation. The Fund may also enter into swaps for non-hedging purposes as a means of gaining market exposures including by making direct investments in foreign currencies, as described below under “Currency Transactions”. A swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals based upon or calculated by reference to changes in specified prices, rates or indexes for a specified amount of an underlying asset or inflation. The payment flows are usually netted against each other, with the difference being paid by one party to the other. In addition, collateral may be pledged or received by the Fund in accordance with the terms of the respective swaps to provide value and recourse to the Fund or its counterparties in the event of default, bankruptcy or insolvency by one of the parties to the swap.

Risks may arise as a result of the failure of the counterparty to the swap to comply with the terms of the swap. The loss incurred by the failure of a counterparty is generally limited to the net interim payment to be received by the Fund, and/or the termination value at the end of the contract. Therefore, the Fund considers the creditworthiness of each counterparty to a swap in evaluating potential counterparty risk. This risk is mitigated by having a netting arrangement between the Fund and the counterparty and by the posting of collateral by the counterparty to the Fund to cover the Fund’s exposure to the counterparty. Additionally, risks may arise from unanticipated movements in interest rates, inflation or in the value of the underlying securities. The Fund accrues for the interim payments on swaps



92 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

on a daily basis, with the net amount recorded within unrealized appreciation/depreciation of swaps on the statement of assets and liabilities, where applicable. Once the interim payments are settled in cash, the net amount is recorded as realized gain (loss) on swaps on the statement of operations, in addition to any realized gain (loss) recorded upon the termination of swaps. Upfront premiums paid or received for swaps are recognized as cost or proceeds on the statement of assets and liabilities and are amortized on a straight line basis over the life of the contract. Amortized upfront premiums are included in net realized gain (loss) from swaps on the statement of operations. Fluctuations in the value of swaps are recorded as a component of net change in unrealized appreciation/depreciation of swaps on the statement of operations.

Certain standardized swaps, including certain interest rate, inflation and credit default swaps, are subject to mandatory central clearing. Cleared swaps are transacted through futures commission merchants (“FCMs”) that are members of central clearinghouses, with the clearinghouse serving as central counterparty, similar to transactions in futures contracts. Centralized clearing will be required for additional categories of swaps on a phased-in basis based on requirements published by the Securities and Exchange Commission and Commodity Futures Trading Commission.

At the time the Fund enters into a centrally cleared swap, the Fund deposits with the broker or segregates at its custodian cash or securities as collateral to satisfy initial margin requirements set by the clearinghouse on which the transaction is effected. Pursuant to the contract, with respect to cash collateral, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in the value of the contract; in the case of securities collateral, the Fund agrees to adjust the securities position held in the segregated account accordingly. Such receipts, payments or adjustments are known as variation margin and are recorded by the Fund as unrealized gains or losses. Risks may arise from the potential inability of a counterparty to meet the terms of the contract. The credit/counterparty risk for centrally cleared swaps is generally less than non-centrally cleared swaps, since the clearinghouse, which is the issuer or counterparty to each centrally cleared swap, has robust risk mitigation standards, including the requirement to provide initial and variation margin. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the time it was closed.

Interest Rate Swaps:

The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objectives. Because the Fund holds fixed rate bonds, the value of these bonds may decrease if interest rates rise. To help hedge against this risk and to maintain its ability to generate income at



ABFunds.com		AB Global Bond Fund 93

NOTES TO FINANCIAL STATEMENTS (continued)

prevailing market rates, the Fund may enter into interest rate swaps. Interest rate swaps are agreements between two parties to exchange cash flows based on a notional amount. The Fund may elect to pay a fixed rate and receive a floating rate, or, receive a fixed rate and pay a floating rate on a notional amount.

In addition, the Fund may also enter into interest rate swap transactions to preserve a return or spread on a particular investment or portion of its portfolio, or protecting against an increase in the price of securities the Fund anticipates purchasing at a later date. Interest rate swaps involve the exchange by the Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) computed based on a contractually-based principal (or “notional”) amount. Interest rate swaps are entered into on a net basis (i.e., the two payment streams are netted out, with the Fund receiving or paying, as the case may be, only the net amount of the two payments).

During the six months ended March 31, 2026, the Fund held interest rate swaps for hedging and non-hedging purposes.

Credit Default Swaps:

The Fund may enter into credit default swaps, including to manage its exposure to the market or certain sectors of the market, to reduce its risk exposure to defaults by corporate and sovereign issuers held by the Fund, or to create exposure to corporate or sovereign issuers to which it is not otherwise exposed. The Fund may purchase credit protection (“Buy Contract”) or provide credit protection (“Sale Contract”) on the referenced obligation of the credit default swap. During the term of the swap, the Fund receives/(pays) fixed payments from/(to) the respective counterparty, calculated at the agreed upon rate applied to the notional amount. If the Fund is a buyer/(seller) of protection and a credit event occurs, as defined under the terms of the swap, the Fund will either (i) receive from the seller/(pay to the buyer) of protection an amount equal to the notional amount of the swap (the “Maximum Payout Amount”) and deliver/(take delivery of) the referenced obligation or (ii) receive/(pay) a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation. In certain circumstances Maximum Payout Amounts may be partially offset by recovery values of the respective referenced obligations, upfront premium received upon entering into the agreement, or net amounts received from settlement of buy protection credit default swaps entered into by the Fund for the same referenced obligation with the same counterparty.

Credit default swaps may involve greater risks than if the Fund had invested in the referenced obligation directly. Credit default swaps are subject to general market risk, liquidity risk, counterparty risk and credit risk. If the Fund is a buyer of protection and no credit event occurs, it will lose the



94 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

payments it made to its counterparty. If the Fund is a seller of protection and a credit event occurs, the value of the referenced obligation received by the Fund coupled with the periodic payments previously received may be less than the Maximum Payout Amount it pays to the buyer, resulting in a net loss to the Fund.

Implied credit spreads over U.S. Treasuries of comparable maturity utilized in determining the market value of credit default swaps on issuers as of period end are disclosed in the portfolio of investments. The implied spreads serve as an indicator of the current status of the payment/performance risk and typically reflect the likelihood of default by the issuer of the referenced obligation. The implied credit spread of a particular reference obligation also reflects the cost of buying/selling protection and may reflect upfront payments required to be made to enter into the agreement. Widening credit spreads typically represent a deterioration of the referenced obligation’s credit soundness and greater likelihood of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced obligation.

During the six months ended March 31, 2026, the Fund held credit default swaps for hedging and non-hedging purposes.

The Fund typically enters into International Swaps and Derivatives Association, Inc. Master Agreements (“ISDA Master Agreement”) with its OTC derivative contract counterparties in order to, among other things, reduce its credit risk to OTC counterparties. ISDA Master Agreements include provisions for general obligations, representations, collateral and events of default or termination. Under an ISDA Master Agreement, the Fund typically may offset with the OTC counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment (close-out netting) in the event of default or termination. In the event of a default by an OTC counterparty, the return of collateral with market value in excess of the Fund’s net liability, held by the defaulting party, may be delayed or denied.

The Fund’s ISDA Master Agreements may contain provisions for early termination of OTC derivative transactions in the event the net assets of the Fund decline below specific levels (“net asset contingent features”). If these levels are triggered, the Fund’s OTC counterparty has the right to terminate such transaction and require the Fund to pay or receive a settlement amount in connection with the terminated transaction. If OTC derivatives were held at period end, please refer to netting arrangements by the OTC counterparty tables below for additional details.



ABFunds.com		AB Global Bond Fund 95

NOTES TO FINANCIAL STATEMENTS (continued)

During the six months ended March 31, 2026, the Fund had entered into the following derivatives:

Asset Derivatives

Liability Derivatives

Derivative Type

Statement of
Assets and
Liabilities
Location

Fair Value

Statement of
Assets and
Liabilities
Location

Fair Value

Interest rate contracts

Receivable for
variation margin on
futures

5,676,133

Payable for
variation margin on
futures

13,365,150

Interest rate contracts

Receivable for
variation margin on
centrally cleared
swaps

118,793

Payable for
variation margin on
centrally cleared
swaps

4,405,861

Foreign currency contracts

Unrealized
appreciation on
forward currency
exchange contracts

56,719,667

Unrealized
depreciation on
forward currency
exchange contracts

4,973,898

Credit contracts

Receivable for
variation margin on
centrally cleared
swaps

400,030

Payable for
variation margin on
centrally cleared
swaps

55,868

Total

62,914,623

22,800,777

*	Only variation margin receivable (payable) at period end is reported within the statement of assets and liabilities. This amount reflects cumulative unrealized appreciation (depreciation) on futures and centrally cleared swaps as reported in the portfolio of investments.


Derivative Type	Location of Gain or (Loss) on Derivatives Within Statement of Operations	Realized Gain or (Loss) on Derivatives			Change in Unrealized Appreciation or (Depreciation)
Interest rate contracts	Net realized gain/(loss) on swaps; Net change in unrealized appreciation (depreciation) on swaps	$	335,735		$	(6,164,633	)

Interest rate contracts	Net realized gain/(loss) on futures; Net change in unrealized appreciation (depreciation) on futures		(7,038,768	)		(4,604,250	)

Foreign currency contracts	Net realized gain/(loss) on forward currency exchange contracts; Net change in unrealized appreciation (depreciation) on forward currency exchange contracts		39,389,242			42,231,141



96 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)


Derivative Type	Location of Gain or (Loss) on Derivatives Within Statement of Operations	Realized Gain or (Loss) on Derivatives		Change in Unrealized Appreciation or (Depreciation)

Credit contracts	Net realized gain/(loss) on swaps; Net change in unrealized appreciation (depreciation) on swaps	$	279,125	$	362,604

Total		$	32,965,334	$	31,824,862

The following table represents the average monthly volume of the Fund’s derivative transactions during the six months ended March 31, 2026:


Centrally Cleared Credit Default Swaps:
Average notional amount of buy contracts	$	55,700,000
Average notional amount of sale contracts	$	74,969,135
Centrally Cleared Interest Rate Swaps:
Average notional amount	$	396,888,256
Forward Currency Exchange Contracts:
Average principal amount of buy contracts	$	269,049,948
Average principal amount of sale contracts	$	3,979,847,932
Futures:
Average notional amount of buy contracts	$	1,784,576,922
Average notional amount of sale contracts	$	671,735,122

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the statement of assets and liabilities.

All OTC derivatives held at period end were subject to netting arrangements. The following table presents the Fund’s derivative assets and liabilities by OTC counterparty net of amounts available for offset under ISDA Master Agreements (“MA”) and net of the related collateral received/pledged by the Fund as of March 31, 2026. Exchange-traded derivatives and centrally cleared swaps are not subject to netting arrangements and as such are excluded from the tables.

Counterparty

Derivative
Assets
Subject to a
MA

Derivatives
Available
for Offset

Cash
Collateral
Received*

Security
Collateral
Received*

Net Amount
of Derivative
Assets

Australia and New Zealand Banking Group Ltd.

703,182

– 0

–

– 0

–

– 0

–

703,182

Bank of America NA

5,787,661

– 0

–

– 0

–

– 0

–

5,787,661

Bank of New York Mellon Corp. (The)

6,893,560

– 0

–

– 0

–

– 0

–

6,893,560

Brown Brothers Harriman & Co.

539,783

(50,406

)

– 0

–

– 0

–

489,377

Citibank NA

3,196,136

(1,500,414

)

– 0

–

– 0

–

1,695,722

Deutsche Bank AG

1,005,315

– 0

–

– 0

–

– 0

–

1,005,315

Goldman Sachs Bank USA

3,906,043

(600,500

)

(510,000

)

– 0

–

2,795,543

HSBC Bank USA

1,781,516

(1,781,516

)

– 0

–

– 0

–

– 0

–



ABFunds.com		AB Global Bond Fund 97

NOTES TO FINANCIAL STATEMENTS (continued)


Counterparty	Derivative Assets Subject to a MA		Derivatives Available for Offset			Cash Collateral Received*			Security Collateral Received*			Net Amount of Derivative Assets
JPMorgan Chase Bank NA	$	109,998	$	– 0	–	$	– 0	–	$	– 0	–	$	109,998
Morgan Stanley Capital Services LLC		25,947,741		(26,984	)		(346,000	)		– 0	–		25,574,757
Societe Generale		6,108,780		– 0	–		– 0	–		– 0	–		6,108,780
Standard Chartered Bank		731,731		(19,520	)		(712,211	)		– 0	–		– 0	–
UBS AG		8,221		– 0	–		(8,221	)		– 0	–		– 0	–

Total	$	56,719,667	$	(3,979,340	)	$	(1,576,432	)	$	– 0	–	$	51,163,895	^


Counterparty	Derivative Liabilities Subject to a MA		Derivatives Available for Offset			Cash Collateral Pledged*			Security Collateral Pledged*			Net Amount of Derivative Liabilities
Brown Brothers Harriman & Co.	$	50,406	$	(50,406	)	$	– 0	–	$	– 0	–	$	– 0	–
Citibank NA		1,500,414		(1,500,414	)		– 0	–		– 0	–		– 0	–
Goldman Sachs Bank USA		600,500		(600,500	)		– 0	–		– 0	–		– 0	–
HSBC Bank USA		2,293,899		(1,781,516	)		– 0	–		– 0	–		512,383
Morgan Stanley Capital Services LLC		26,984		(26,984	)		– 0	–		– 0	–		– 0	–
NatWest Markets PLC		482,175		– 0	–		– 0	–		– 0	–		482,175
Standard Chartered Bank		19,520		(19,520	)		– 0	–		– 0	–		– 0	–

Total	$	4,973,898	$	(3,979,340	)	$	– 0	–	$	– 0	–	$	994,558	^

*	The actual collateral received/pledged may be more than the amount reported due to overcollateralization.

^	Net amount represents the net receivable (payable) that would be due from/to the counterparty in the event of default or termination.

The net amount from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same counterparty.

See	Note D.4 for additional disclosure of netting arrangements regarding reverse repurchase agreements.

2. Currency Transactions

The Fund may invest in non-U.S. Dollar-denominated securities on a currency hedged or unhedged basis. The Fund may seek investment opportunities by taking long or short positions in currencies through the use of currency-related derivatives, including forward currency exchange contracts, futures and options on futures, swaps, and other options. The Fund may enter into transactions for investment opportunities when it anticipates that a foreign currency will appreciate or depreciate in value but securities denominated in that currency are not held by the Fund and do not present attractive investment opportunities. Such transactions may also be used when the Adviser believes that it may be more efficient than a direct investment in a foreign currency-denominated security. The Fund may also conduct currency exchange contracts on a spot basis (i.e., for cash at the spot rate prevailing in the currency exchange market for buying or selling currencies).



98 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

3. TBA and Dollar Rolls

The Fund may invest in TBA mortgage-backed securities. A TBA, or “To Be Announced”, trade represents a contract for the purchase or sale of mortgage-backed securities to be delivered at a future agreed-upon date; however, the specific mortgage pool numbers or the number of pools that will be delivered to fulfill the trade obligation or terms of the contract are unknown at the time of the trade.

Mortgage pools (including fixed-rate or variable-rate mortgages) guaranteed by the Government National Mortgage Association, or GNMA, the Federal National Mortgage Association, or FNMA, or the Federal Home Loan Mortgage Corporation, or FHLMC, are subsequently allocated to the TBA transactions.

The Fund may enter into certain TBA transactions known as dollar rolls. Dollar rolls involve sales by the Fund of securities for delivery in the current month and the Fund’s simultaneously contracting to repurchase substantially similar (same type and coupon) securities on a specified future date. During the roll period, the Fund forgoes principal and interest paid on the securities. The Fund is compensated by the difference between the current sales price and the lower forward price for the future purchase (often referred to as the “drop”) as well as by the interest earned on the cash proceeds of the initial sale. Dollar rolls involve the risk that the market value of the securities the Fund is obligated to repurchase under the agreement may decline below the repurchase price. Dollar rolls are speculative techniques. For the six months ended March 31, 2026, the Fund earned drop income of $2,506,078 which is included in interest income in the accompanying statement of operations.

4. Reverse Repurchase Agreements

The Fund may enter into reverse repurchase transactions (“RVP”) in accordance with the terms of a Master Repurchase Agreement (“MRA”), under which the Fund sells securities and agrees to repurchase them at a mutually agreed upon date and price. At the time the Fund enters into a reverse repurchase agreement, it will establish a segregated account with the custodian containing liquid assets having a value comparable to the repurchase price. Under the MRA and other master agreements, the Fund is permitted to offset payables and/or receivables with collateral held and/or posted to the counterparty and create one single net payment due to or from the Fund in the event of a default. In the event of a default by a MRA counterparty, the Fund may be considered an unsecured creditor with respect to any excess collateral (collateral with a market value in excess of the repurchase price) held by and/or posted to the counterparty, and as such the return of such excess collateral may be delayed or denied. For the six months ended March 31, 2026, the carrying value of the payable for the reverse repurchase agreements approximated its fair value. If measured at fair value, borrowings under the reverse repurchase agreements would have been considered as a Level 1 investment. For the six months ended March 31, 2026, the average amount of reverse repurchase agreements outstanding was



ABFunds.com		AB Global Bond Fund 99

NOTES TO FINANCIAL STATEMENTS (continued)

$2,797,667 and the daily weighted average interest rate was 1.72%. At March 31, 2026, the Fund had reverse repurchase agreements outstanding in the amount of $5,726,600 as reported in the statement of assets and liabilities.

The following table presents the Fund’s RVP liabilities by counterparty net of the related collateral pledged by the Fund as of March 31, 2026:


Counterparty	RVP Liabilities Subject to a MRA		Securities Collateral Pledged^†*			Net Amount of RVP Liabilities
Jefferies LLC	$	5,726,600	$	(5,541,832	)	$	184,768

^†	Including accrued interest.

*	The actual collateral pledged may be more than the amount reported due to overcollateralization.

NOTE E

Capital Stock

Each class consists of 3,000,000,000 authorized shares. Transactions in capital shares for each class were as follows:


	Shares						Amount
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30, 2025			Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30, 2025

Class A
Shares sold		1,355,290			2,689,293		$	9,454,821		$	18,619,049

Shares issued in reinvestment of dividends		472,357			1,023,061			3,296,679			7,094,378

Shares converted from Class C		85,633			185,034			598,451			1,284,651

Shares redeemed		(4,683,450	)		(10,195,587	)		(32,666,864	)		(70,529,457	)

Net decrease		(2,770,170	)		(6,298,199	)	$	(19,316,913	)	$	(43,531,379	)


Class C
Shares sold		46,780			159,168		$	326,987		$	1,105,781

Shares issued in reinvestment of dividends		9,985			21,962			69,953			152,808

Shares converted to Class A		(85,357	)		(184,416	)		(598,451	)		(1,284,651	)

Shares redeemed		(109,393	)		(230,621	)		(766,065	)		(1,602,312	)

Net decrease		(137,985	)		(233,907	)	$	(967,576	)	$	(1,628,374	)


Advisor Class
Shares sold		79,789,429			138,640,684		$	556,027,165		$	958,727,525

Shares issued in reinvestment of dividends		8,953,336			16,354,911			62,449,181			113,351,365

Shares redeemed		(56,347,643	)		(124,846,100	)		(392,705,745	)		(862,443,654	)

Net increase		32,395,122			30,149,495		$	225,770,601		$	209,635,236



100 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)


	Shares						Amount
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30, 2025			Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30, 2025

Class I
Shares sold		9,871,117			16,869,751		$	68,928,563		$	116,492,189

Shares issued in reinvestment of dividends		1,626,126			3,044,195			11,334,612			21,105,495

Shares redeemed		(6,941,399	)		(15,495,813	)		(48,487,444	)		(107,404,260	)

Net increase		4,555,844			4,418,133		$	31,775,731		$	30,193,424


Class Z
Shares sold		26,222,484			92,759,235		$	182,822,774		$	642,040,200

Shares issued in reinvestment of dividends		3,683,225			4,886,413			25,671,329			33,897,743

Shares redeemed		(14,029,389	)		(27,672,038	)		(97,722,580	)		(191,225,391	)

Net increase		15,876,320			69,973,610		$	110,771,523		$	484,712,552

NOTE F

Risks Involved in Investing in the Fund

Market Risk—The value of the Fund’s assets will fluctuate as the market or markets in which the Fund invests fluctuate. The value of the Fund’s investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events, including public health crises (including the occurrence of a contagious disease or illness), terrorism, war, changing interest rate levels, the imposition of new or additional tariffs, and regional and global conflicts, that affect large portions of the market.

Interest-Rate Risk—Changes in interest rates will affect the value of investments in fixed-income securities. When interest rates rise, the value of existing investments in fixed-income securities tends to fall and this decrease in value may not be offset by higher income from new investments. Interest rate risk is generally greater for fixed-income securities with longer maturities or durations. Changing interest rates may have unpredictable effects on the markets, may result in heightened market volatility and may detract from Fund performance. In addition, changes in monetary policy may exacerbate the risks associated with changing interest rates.

Credit Risk—An issuer or guarantor of a fixed-income security, or the counterparty to a derivatives or other contract, may be unable or unwilling to make timely payments of interest or principal, or to otherwise honor its obligations. The issuer or guarantor may default, causing a loss of the full principal amount of a security and accrued interest. The degree of risk for a particular security may be reflected in its credit rating. There is the possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.



ABFunds.com		AB Global Bond Fund 101

NOTES TO FINANCIAL STATEMENTS (continued)

Below Investment-Grade Securities Risk—Investments in fixed-income securities with lower ratings (commonly known as “junk bonds”) are subject to a higher probability that an issuer will default or fail to meet its payment obligations. These securities may be subject to greater price volatility due to such factors as specific corporate developments and negative perceptions of the junk bond market generally and may be more difficult to trade than other types of securities.

Duration Risk—Duration is a measure that relates the expected price volatility of a fixed-income security to changes in interest rates. The duration of a fixed-income security may be shorter than or equal to full maturity of a fixed-income security. Fixed-income securities with longer durations have more risk and will decrease in price as interest rates rise.

Inflation Risk—This is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund’s assets can decline as can the value of the Fund’s distributions. This risk is significantly greater for fixed-income securities with longer maturities.

Foreign (Non-U.S.) Risk—Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be more difficult to trade due to adverse market, economic, political, regulatory or other factors.

Mortgage-Related and/or Other Asset-Backed Securities Risk—Investments in mortgage-related and other asset-backed securities are subject to certain additional risks. The value of these securities may be particularly sensitive to changes in interest rates. These risks include “extension risk”, which is the risk that, in periods of rising interest rates, issuers may delay the payment of principal, and “prepayment risk”, which is the risk that in periods of falling interest rates, issuers may pay principal sooner than expected, exposing the Fund to a lower rate of return upon reinvestment of principal. Mortgage-backed securities offered by non-governmental issuers and other asset-backed securities may be subject to other risks, such as higher rates of default in the mortgages or assets backing the securities or risks associated with the nature and servicing of mortgages or assets backing the securities.

Emerging-Market Risk—Investments in emerging market countries may have more risks than investments in other foreign countries because the markets are less developed, less liquid and are subject to increased potential for market manipulation and increased economic, political, regulatory or other uncertainties.

Currency Risk—Fluctuations in currency exchange rates may negatively affect the value of the Fund’s investments or reduce its returns.



102 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

Leverage Risk—When the Fund borrows money or otherwise leverages its investments, its performance may be volatile because leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s investments. The Fund may create leverage through the use of reverse repurchase arrangements, forward currency exchange contracts, forward commitments, dollar rolls or futures or by borrowing money. The use of other types of derivative instruments by the Fund, such as options and swaps, may also result in a form of leverage. Leverage may result in higher returns to the Fund than if the Fund were not leveraged, but may also adversely affect returns, particularly if the market is declining.

Derivatives Risk—Derivatives may be difficult to price or unwind and leveraged so that small changes may produce disproportionate losses for the Fund. A short position in a derivative instrument involves the risk of a theoretically unlimited increase in the value of the underlying asset, reference rate or index, which could cause the Fund to suffer a potentially unlimited loss. Derivatives, especially over-the-counter derivatives, are also subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable or unwilling to honor its contractual obligations to the Fund.

Illiquid Investments Risk—Illiquid investments risk exists when certain investments become difficult to purchase or sell. Difficulty in selling such investments may result in sales at disadvantageous prices affecting the value of your investment in the Fund. Causes of illiquid investments risk may include low trading volumes, large positions and heavy redemption of Fund shares. Foreign fixed-income securities may have more illiquid investments risk because secondary trading markets for these securities may be smaller and less well-developed and the securities may trade less frequently than domestic securities. Illiquid investments risk may be higher in a rising interest rate environment, when the value and liquidity of fixed-income securities generally decline.

Active Trading Risk—The Fund expects to engage in active and frequent trading of its portfolio securities and its portfolio turnover rate may greatly exceed 100%. A higher rate of portfolio turnover increases transaction costs, which may negatively affect the Fund’s return. In addition, a high rate of portfolio turnover may result in substantial short-term gains, which may have adverse tax consequences for Fund shareholders.

Indemnification Risk—In the ordinary course of business, the Fund enters into contracts that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, the Fund has not had prior claims or losses pursuant to these indemnification provisions and expects the risk of loss thereunder to be remote. Therefore, the Fund has not accrued any liability in connection with these indemnification provisions.



ABFunds.com		AB Global Bond Fund 103

NOTES TO FINANCIAL STATEMENTS (continued)

Management Risk—The Fund is subject to management risk because it is an actively-managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions, but there is no guarantee that its techniques will produce the intended results. Some of these techniques may incorporate, or rely upon, quantitative models, but there is no guarantee that these models will generate accurate forecasts, reduce risk or otherwise perform as expected.

NOTE G

Joint Credit Facility

A number of open-end mutual funds and ETFs managed by the Adviser, including the Fund, participate in a $325 million revolving credit facility (the “Facility”) intended to provide short-term financing related to redemptions and other short-term liquidity requirements, which will expire on June 23, 2026. A commitment fee of 0.15% per annum of the Facility amount is allocated among the participating funds. The portion of the commitment fee allocated to the ETFs is paid by the Adviser pursuant to the ETFs’ unitary fee structure. The Fund did not utilize the Facility during the six months ended March 31, 2026.

NOTE H

Distributions to Shareholders

The tax character of distributions paid for the year ending September 30, 2026 will be determined at the end of the current fiscal year. The tax character of distributions paid during the fiscal years ended September 30, 2025 and September 30, 2024 were as follows:


	2025		2024
Distributions paid from:
Ordinary income	$	208,230,131	$	36,334,445

Total taxable distributions paid	$	208,230,131	$	36,334,445
Return of Capital		5,219,932		169,757,162

Total distributions paid	$	213,450,063	$	206,091,607

As of September 30, 2025, the components of accumulated earnings (deficit) on a tax basis were as follows:


Accumulated capital losses	$	(774,495,849	)^(a)
Other losses		(73,208,904	)^(b)
Unrealized appreciation (depreciation)		(33,679,805	)^(c)

Total accumulated earnings (deficit)	$	(881,384,558	)^(d)

(a)	As of September 30, 2025, the Fund had a net capital loss carryforward of $774,495,849.

(b)	As of September 30, 2025, the Fund had a qualified late-year ordinary loss deferral of $71,531,328 and the cumulative deferred loss on straddles was $1,677,576.

(c)

The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable primarily to the recognition for tax purposes of unrealized gains (losses) on certain derivative instruments, the tax treatment of callable bonds, the tax treatment of swaps, and the tax deferral of losses on wash sales.



104 AB Global Bond Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

(d)	The differences between book-basis and tax-basis components of accumulated earnings (deficit) are attributable primarily to the accrual of foreign capital gains tax, the tax treatment of defaulted securities, and dividends payable.

For tax purposes, net realized capital losses may be carried over to offset future capital gains, if any. Funds are permitted to carry forward capital losses for an indefinite period, and such losses will retain their character as either short-term or long-term capital losses. As of September 30, 2025, the Fund had a net short-term capital loss carryforward of $245,825,451 and a net long-term capital loss carryforward of $528,670,398, which may be carried forward for an indefinite period.

NOTE I

Subsequent Events

Management has evaluated subsequent events for possible recognition or disclosure in the financial statements through the date the financial statements are issued. Management has determined that there are no material events that would require disclosure in the Fund’s financial statements through this date.



ABFunds.com		AB Global Bond Fund 105

FINANCIAL HIGHLIGHTS

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class A
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 7.00			$ 7.04			$ 6.57			$ 7.09			$ 8.52			$ 8.62

Income From Investment Operations

Net investment income^(a)(b)		.12			.24	*		.23			.21			.11			.11

Net realized and unrealized gain (loss) on investment and foreign currency transactions		(.13	)		(.06	)		.48			(.11	)		(1.20	)		(.02	)

Contributions from Affiliates		– 0	–		– 0	–		.00	^(c)		.00	^(c)		.00	^(c)		– 0	–

Net increase (decrease) in net asset value from operations		(.01	)		.18			.71			.10			(1.09	)		.09

Less: Dividends and Distributions

Dividends from net investment income		(.12	)		(.21	)		(.04	)		(.57	)		(.24	)		(.13	)

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		– 0	–		(.10	)		(.06	)

Return of Capital		– 0	–		(.01	)		(.20	)		(.05	)		– 0	–		– 0	–

Total dividends and distributions		(.12	)		(.22	)		(.24	)		(.62	)		(.34	)		(.19	)

Net asset value, end of period		$ 6.87			$ 7.00			$ 7.04			$ 6.57			$ 7.09			$ 8.52


Total Return

Total investment return based on net asset value^(d)**		(.01	)%		2.84	%*^{^}		10.90	%		1.27	%		(13.27	)%		.92	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$242,365			$266,015			$312,047			$332,871			$409,768			$580,627

Ratio to average net assets of:

Expenses, net of waivers/reimbursements^(e)		.77	%^(f)		.78	%		.80	%		.80	%		.80	%		.80	%

Expenses, before waivers/reimbursements^(e)		.77	%^(f)		.79	%		.80	%		.80	%		.80	%		.80	%

Net investment income^(b)		3.41	%^(f)		3.42	%*		3.42	%		3.06	%		1.40	%		1.24	%

Portfolio turnover rate***		134	%		301	%		302	%		177	%		159	%		130	%

See footnote summary on page 111.



106 AB Global Bond Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class C
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 7.02			$ 7.06			$ 6.59			$ 7.12			$ 8.55			$ 8.65

Income From Investment Operations

Net investment income^(a)(b)		.09			.18	*		.18			.16			.05			.04

Net realized and unrealized gain (loss) on investment and foreign currency transactions		(.12	)		(.05	)		.47			(.12	)		(1.20	)		(.02	)

Contributions from Affiliates		– 0	–		– 0	–		.00	^(c)		.00	^(c)		.00	^(c)		– 0	–

Net increase (decrease) in net asset value from operations		(.03	)		.13			.65			.04			(1.15	)		.02

Less: Dividends and Distributions

Dividends from net investment income		(.09	)		(.17	)		(.03	)		(.52	)		(.18	)		(.06	)

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		– 0	–		(.10	)		(.06	)

Return of Capital		– 0	–		(.00	)^(c)		(.15	)		(.05	)		– 0	–		– 0	–

Total dividends and distributions		(.09	)		(.17	)		(.18	)		(.57	)		(.28	)		(.12	)

Net asset value, end of period		$ 6.90			$ 7.02			$ 7.06			$ 6.59			$ 7.12			$ 8.55


Total Return

Total investment return based on net asset value^(d)**		(.24	)%		2.05	%*^{^}		10.03	%		.36	%		(13.88	)%		.27	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$6,152			$7,228			$8,927			$14,099			$22,599			$39,929

Ratio to average net assets of:

Expenses, net of waivers/reimbursements^(e)		1.52	%^(f)		1.53	%		1.55	%		1.55	%		1.55	%		1.55	%

Expenses, before waivers/reimbursements^(e)		1.52	%^(f)		1.54	%		1.55	%		1.55	%		1.56	%		1.55	%

Net investment income^(b)		2.64	%^(f)		2.65	%*		2.65	%		2.26	%		.62	%		.49	%

Portfolio turnover rate***		134	%		301	%		302	%		177	%		159	%		130	%

See footnote summary on page 111.



ABFunds.com		AB Global Bond Fund 107

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Advisor Class
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 6.99			$ 7.03			$ 6.56			$ 7.09			$ 8.51			$ 8.62

Income From Investment Operations

Net investment income^(a)(b)		.13			.25	*		.25			.23			.13			.13

Net realized and unrealized gain (loss) on investment and foreign currency transactions		(.12	)		(.05	)		.47			(.12	)		(1.19	)		(.03	)

Contributions from Affiliates		– 0	–		– 0	–		.00	^(c)		.00	^(c)		.00	^(c)		– 0	–

Net increase (decrease) in net asset value from operations		.01			.20			.72			.11			(1.06	)		.10

Less: Dividends and Distributions

Dividends from net investment income		(.13	)		(.23	)		(.04	)		(.59	)		(.26	)		(.15	)

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		– 0	–		(.10	)		(.06	)

Return of Capital		– 0	–		(.01	)		(.21	)		(.05	)		– 0	–		– 0	–

Total dividends and distributions		(.13	)		(.24	)		(.25	)		(.64	)		(.36	)		(.21	)

Net asset value, end of period		$ 6.87			$ 6.99			$ 7.03			$ 6.56			$ 7.09			$ 8.51


Total Return

Total investment return based on net asset value^(d)**		.26	%		3.10	%*^{^}		11.19	%		1.38	%		(12.95	)%		1.17	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$4,386,695			$4,237,759			$4,052,962			$3,549,674			$3,441,514			$4,707,655

Ratio to average net assets of:

Expenses, net of waivers/reimbursements^(e)		.52	%^(f)		.53	%		.55	%		.55	%		.55	%		.55	%

Expenses, before waivers/reimbursements^(e)		.52	%^(f)		.54	%		.55	%		.55	%		.56	%		.55	%

Net investment income^(b)		3.67	%^(f)		3.68	%*		3.67	%		3.33	%		1.66	%		1.49	%

Portfolio turnover rate***		134	%		301	%		302	%		177	%		159	%		130	%

See footnote summary on page 111.



108 AB Global Bond Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class I
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 6.98			$ 7.03			$ 6.56			$ 7.09			$ 8.52			$ 8.62

Income From Investment Operations

Net investment income^(a)(b)		.13			.25			.25			.23			.13			.13

Net realized and unrealized gain (loss) on investment and foreign currency transactions		(.12	)		(.05	)		.47			(.13	)		(1.20	)		(.02	)

Contributions from Affiliates		– 0	–		– 0	–		.00	^(c)		.00	^(c)		.00	^(c)		– 0	–

Net increase (decrease) in net asset value from operations		.01			.20			.72			.10			(1.07	)		.11

Less: Dividends and Distributions

Dividends from net investment income		(.13	)		(.24	)		(.04	)		(.58	)		(.26	)		(.15	)

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		– 0	–		(.10	)		(.06	)

Return of Capital		– 0	–		(.01	)		(.21	)		(.05	)		– 0	–		– 0	–

Total dividends and distributions		(.13	)		(.25	)		(.25	)		(.63	)		(.36	)		(.21	)

Net asset value, end of period		$ 6.86			$ 6.98			$ 7.03			$ 6.56			$ 7.09			$ 8.52


Total Return

Total investment return based on net asset value^(d)**		.10	%		2.93	%		11.14	%		1.36	%		(13.06	)%		1.29	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$639,430			$618,882			$592,295			$670,854			$724,876			$919,250

Ratio to average net assets of:

Expenses, net of waivers/reimbursements^(e)		.54	%^(f)		.55	%		.59	%		.57	%		.56	%		.55	%

Expenses, before waivers/reimbursements^(e)		.55	%^(f)		.55	%		.59	%		.57	%		.57	%		.55	%

Net investment income^(b)		3.65	%^(f)		3.58	%		3.63	%		3.31	%		1.65	%		1.49	%

Portfolio turnover rate***		134	%		301	%		302	%		177	%		159	%		130	%

See footnote summary on page 111.



ABFunds.com		AB Global Bond Fund 109

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class Z
	Six Months Ended March 31, 2026 (unaudited)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 6.98			$ 7.04			$ 6.56			$ 7.09			$ 8.52			$ 8.62

Income From Investment Operations

Net investment income^(a)(b)		.13			.25			.25			.23			.14			.13

Net realized and unrealized gain (loss) on investment and foreign currency transactions		(.12	)		(.06	)		.48			(.12	)		(1.21	)		(.02	)

Contributions from Affiliates		– 0	–		– 0	–		.00	^(c)		.00	^(c)		.00	^(c)		– 0	–

Net increase (decrease) in net asset value from operations		.01			.19			.73			.11			(1.07	)		.11

Less: Dividends and Distributions

Dividends from net investment income		(.13	)		(.24	)		(.04	)		(.59	)		(.26	)		(.15	)

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		– 0	–		(.10	)		(.06	)

Return of Capital		– 0	–		(.01	)		(.21	)		(.05	)		– 0	–		– 0	–

Total dividends and distributions		(.13	)		(.25	)		(.25	)		(.64	)		(.36	)		(.21	)

Net asset value, end of period		$ 6.86			$ 6.98			$ 7.04			$ 6.56			$ 7.09			$ 8.52


Total Return

Total investment return based on net asset value^(d)**		(.02	)%		2.83	%^{^}		11.38	%		1.40	%		(13.01	)%		1.34	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$1,425,475			$1,339,748			$857,290			$813,849			$755,288			$717,784

Ratio to average net assets of:

Expenses, net of waivers/reimbursements^(e)		.50	%^(f)		.51	%		.52	%		.52	%		.51	%		.50	%

Expenses, before waivers/reimbursements^(e)		.51	%^(f)		.52	%		.52	%		.52	%		.51	%		.50	%

Net investment income^(b)		3.68	%^(f)		3.61	%		3.71	%		3.37	%		1.73	%		1.53	%

Portfolio turnover rate***		134	%		301	%		302	%		177	%		159	%		130	%

See footnote summary on page 111.



110 AB Global Bond Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

(a)	Based on average shares outstanding.

(b)	Net of expenses waived/reimbursed by the Adviser.

(c)	Amount is less than $.005.

(d)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption on the last day of the period. Initial sales charges or contingent deferred sales charges are not reflected in the calculation of total investment return. Total investment return does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total investment return calculated for a period of less than one year is not annualized.

(e)	The expense ratios presented below exclude interest expense:


	Six Months Ended March 31, 2026 (unaudited)^(f)			Year Ended September 30,
	Six Months Ended March 31, 2026 (unaudited)^(f)			2025			2024			2023			2022			2021
Class A
Net of waivers/reimbursements		.77	%		.78	%		.80	%		.80	%		.80	%		.80	%
Before waivers/reimbursements		.77	%		.79	%		.80	%		.80	%		.80	%		.80	%
Class C
Net of waivers/reimbursements		1.52	%		1.53	%		1.55	%		1.55	%		1.55	%		1.55	%
Before waivers/reimbursements		1.52	%		1.54	%		1.55	%		1.55	%		1.56	%		1.55	%
Advisor Class
Net of waivers/reimbursements		.52	%		.53	%		.55	%		.55	%		.55	%		.55	%
Before waivers/reimbursements		.52	%		.54	%		.55	%		.55	%		.56	%		.55	%
Class I
Net of waivers/reimbursements		.54	%		.55	%		.59	%		.57	%		.56	%		.55	%
Before waivers/reimbursements		.54	%		.55	%		.59	%		.57	%		.57	%		.55	%
Class Z
Net of waivers/reimbursements		.50	%		.51	%		.52	%		.52	%		.51	%		.50	%
Before waivers/reimbursements		.51	%		.52	%		.52	%		.52	%		.51	%		.50	%

(f)	Annualized.

(g)	Less than .005%.

*	During the year ended September 30, 2025, the Adviser reimbursed the Fund for overpayment of prior years’ omnibus account services, sub-accounting services and related transfer agency expenses. The impact of the reimbursement to the financial highlights is as follows:


	Net Investment Income Per Share		Net Investment Income Ratio			Total Return

Class A	$	.01		.08	%		.00	%^(g)

Class C	$	.01		.08	%		.00	%^(g)

Advisor Class	$	.01		.09	%		.00	%^(g)

**	Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the performance of each share class, for the year ended September 30, 2025 by .07%.

***	The Fund accounts for dollar roll transactions as purchases and sales.

^	The net asset value and total return include adjustments in accordance with accounting principles generally accepted in the United States of America for financial reporting purposes. As such, the net asset value and total return for shareholder transactions may differ from financial statements.

See notes to financial statements.



ABFunds.com		AB Global Bond Fund 111

Information Regarding the Review and Approval of the Fund’s Advisory Agreement

The disinterested directors (the “directors”) of AB Global Bond Fund, Inc. (the “Fund”) unanimously approved the continuance of the Fund’s Advisory Agreement with the Adviser at a meeting held in-person on August 5-6, 2025 (the “Meeting”).

Prior to approval of the continuance of the Advisory Agreement, the directors had requested from the Adviser, and received and evaluated, extensive materials. They reviewed the proposed continuance of the Advisory Agreement with the Adviser and with experienced counsel who are independent of the Adviser, who advised on the relevant legal standards. The directors also reviewed additional materials, including comparative analytical data prepared by the Senior Vice President of the Fund. The directors also discussed the proposed continuance in private sessions with counsel.

The directors considered their knowledge of the nature and quality of the services provided by the Adviser to the Fund gained from their experience as directors or trustees of most of the registered investment companies advised by the Adviser, their overall confidence in the Adviser’s integrity and competence they have gained from that experience, the Adviser’s initiative in identifying and raising potential issues with the directors and its responsiveness, frankness and attention to concerns raised by the directors in the past, including the Adviser’s willingness to consider and implement organizational and operational changes designed to improve investment results and the services provided to the AB Funds. The directors noted that they have four regular meetings each year, at each of which they review extensive materials and information from the Adviser, including information on the investment performance of the Fund and the money market fund advised by the Adviser in which the Fund invests a portion of its assets.

The directors also considered all factors they believed relevant, including the specific matters discussed below. During the course of their deliberations, the directors evaluated, among other things, the reasonableness of the advisory fee. The directors did not identify any particular information that was all-important or controlling, and different directors may have attributed different weights to the various factors. The directors determined that the selection of the Adviser to manage the Fund and the overall arrangements between the Fund and the Adviser, as provided in the Advisory Agreement, including the advisory fee, were fair and reasonable in light of the services performed, expenses incurred and such other matters as the directors considered relevant in the exercise of their business judgment. The material factors and conclusions that formed the basis for the directors’ determinations included the following:

Nature, Extent and Quality of Services Provided

The directors considered the scope and quality of services provided by the Adviser under the Advisory Agreement, including the quality of the investment research capabilities of the Adviser and the other resources it has dedicated to



112 AB Global Bond Fund		ABFunds.com

performing services for the Fund. The directors noted that the Adviser from time to time reviews the Fund’s investment strategies and from time to time proposes changes intended to improve the Fund’s relative or absolute performance for the directors’ consideration. They also noted the professional experience and qualifications of the Fund’s portfolio management team and other senior personnel of the Adviser. The directors also considered that the Advisory Agreement provides that the Fund will reimburse the Adviser for the cost to it of providing certain clerical, accounting, administrative and other services to the Fund by employees of the Adviser or its affiliates. Requests for these reimbursements are made on a quarterly basis and subject to approval by the directors. Reimbursements, to the extent requested and paid, result in a higher rate of total compensation from the Fund to the Adviser than the fee rate stated in the Advisory Agreement. The directors noted that the methodology used to determine the reimbursement amounts had been reviewed by an independent consultant at the request of the directors. The quality of administrative and other services, including the Adviser’s role in coordinating the activities of the Fund’s other service providers, also was considered. The directors concluded that, overall, they were satisfied with the nature, extent and quality of services provided to the Fund under the Advisory Agreement.

Costs of Services Provided and Profitability

The directors reviewed a schedule of the revenues and expenses and related notes indicating the profitability of the Fund to the Adviser for calendar years 2023 and 2024 that had been prepared with an expense allocation methodology arrived at in consultation with an independent consultant at the request of the directors. The directors noted the assumptions and methods of allocation used by the Adviser in preparing fund-specific profitability data and understood that there are a number of potentially acceptable allocation methodologies for information of this type. The directors noted that the profitability information reflected all revenues and expenses of the Adviser’s relationship with the Fund, including those relating to its subsidiaries that provide transfer agency and distribution services to the Fund. The directors recognized that it is difficult to make comparisons of the profitability of the Advisory Agreement with the profitability of fund advisory contracts for unaffiliated funds because comparative information is not generally publicly available and is affected by numerous factors. The directors focused on the profitability of the Adviser’s relationship with the Fund before taxes and distribution expenses. The directors concluded that the Adviser’s level of profitability from its relationship with the Fund was not unreasonable.

Fall-Out Benefits

The directors considered the other benefits to the Adviser and its affiliates from their relationships with the Fund and the money market fund advised by the Adviser in which the Fund invests, including, but not limited to, benefits relating to 12b-1 fees and sales charges received by the Fund’s principal underwriter (which is a wholly owned subsidiary of the Adviser) in respect of certain classes of the Fund’s shares; and transfer agency fees paid by the Fund to a wholly owned subsidiary of the Adviser. The directors recognized that the Adviser’s profitability would be somewhat lower without these benefits. The directors



ABFunds.com		AB Global Bond Fund 113

understood that the Adviser also might derive reputational and other benefits from its association with the Fund.

Investment Results

In addition to the information reviewed by the directors in connection with the Meeting, the directors receive detailed performance information for the Fund at each regular Board meeting during the year.

At the Meeting, the directors reviewed performance information prepared by an independent service provider (the “15(c) service provider”), showing the performance of the Advisor Class shares of the Fund against a group of similar funds (“peer group”) and a larger group of similar funds (“peer universe”), each selected by the 15(c) service provider, and information prepared by the Adviser showing performance of the Advisor Class shares against a broad-based securities market index, in each case for the 1-, 3-, 5- and 10-year periods ended May 31, 2025 and (in the case of comparisons with the broad-based securities market index) for the period from inception. The directors discussed with the Adviser the reasons for the Fund’s underperformance in the more recent periods reviewed and determined to continue to monitor the Fund’s performance closely.

Advisory Fees and Other Expenses

The directors considered the advisory fee rate payable by the Fund to the Adviser and information prepared by the 15(c) service provider concerning advisory fee rates payable by other funds in the same category as the Fund. The directors recognized that it is difficult to make comparisons of advisory fees because there are variations in the services that are included in the fees payable by other funds. The directors compared the Fund’s contractual effective advisory fee rate with a peer group median and noted that it was equal to the median. They also noted that the Adviser’s total rate of compensation, taking into account the impact of the administrative expense reimbursement paid to the Adviser in the latest fiscal year, was equal to the median.

The directors also considered the Adviser’s fee schedule for other clients utilizing investment strategies similar to those of the Fund. For this purpose, they reviewed the relevant advisory fee information from the Adviser’s Form ADV and in a report from the Fund’s Senior Vice President and noted the differences between the Fund’s fee schedule, on the one hand, and the Adviser’s institutional fee schedule and the schedule of fees charged by the Adviser to any offshore funds and for services to any sub-advised funds utilizing investment strategies similar to those of the Fund, on the other. The directors noted that the Adviser may, in some cases, agree to fee rates with large institutional clients that are lower than those reviewed by the directors and that they had previously discussed with the Adviser its policies in respect of such arrangements.

The Adviser reviewed with the directors the significantly greater scope of the services it provides to the Fund relative to institutional, offshore fund and sub-advised fund clients. In this regard, the Adviser noted, among other things,



114 AB Global Bond Fund		ABFunds.com

that, compared to institutional and offshore or sub-advisory accounts, the Fund (i) demands considerably more portfolio management, research and trading resources due to significantly higher daily cash flows; (ii) has more tax and regulatory restrictions and compliance obligations; (iii) must prepare and file or distribute regulatory and other communications about fund operations; and (iv) must provide shareholder servicing to retail investors. The Adviser also reviewed the greater legal risks presented by the large and changing population of Fund shareholders who may assert claims against the Adviser in individual or class actions, and the greater entrepreneurial risk in offering new fund products, which require substantial investment to launch, may not succeed, and generally must be priced to compete with larger, more established funds resulting in lack of profitability to the Adviser until a new fund achieves scale. In light of the substantial differences in services rendered by the Adviser to institutional, offshore fund and sub-advised fund clients as compared to the Fund, and the different risk profile, the directors considered these fee comparisons inapt and did not place significant weight on them in their deliberations.

In connection with their review of the Fund’s advisory fee, the directors also considered the total expense ratio of the Advisor Class shares of the Fund in comparison to the medians for a peer group and a peer universe selected by the 15(c) service provider. The Advisor Class expense ratio of the Fund was based on the Fund’s latest fiscal year. The directors noted that it was likely that the expense ratios of some of the other funds in the Fund’s category were lowered by waivers or reimbursements by those funds’ investment advisers, which in some cases might be voluntary or temporary. The directors view expense ratio information as relevant to their evaluation of the Adviser’s services because the Adviser is responsible for coordinating services provided to the Fund by others. The directors noted that the Fund’s expense ratio was lower than the medians. Based on their review, the directors concluded that the Fund’s expense ratio was acceptable.

Economies of Scale

The directors noted that the advisory fee schedule for the Fund contains breakpoints and that the Fund’s net assets were higher than the breakpoint levels. Accordingly, the Fund’s current effective advisory fee rate reflected a reduction due to the breakpoints and would be further reduced to the extent the net assets of the Fund increase. The directors took into consideration prior presentations by an independent consultant on economies of scale in the mutual fund industry and for the AB Funds, and presentations from time to time by the Adviser concerning certain of its views on economies of scale. The directors also had requested and received from the Adviser certain updates on economies of scale in advance of the Meeting. The directors believe that economies of scale may be realized (if at all) by the Adviser across a variety of products and services, and not only in respect of a single fund. The directors noted that there is no established methodology for setting breakpoints that give effect to the fund-specific services provided by a fund’s adviser and to the economies of scale that an adviser may realize in its overall mutual fund business or those components of it which directly or indirectly affect a fund’s operations. The directors observed



ABFunds.com		AB Global Bond Fund 115

that in the mutual fund industry as a whole, as well as among funds similar to the Fund, there is no uniformity or pattern in the fees and asset levels at which breakpoints (if any) apply. The directors also noted that the advisory agreements for many funds do not have breakpoints at all. Having taken these factors into account, the directors concluded that the Fund’s breakpoint arrangements were acceptable and provide a means for sharing of any economies of scale. The directors also determined to monitor changes in the Fund’s asset levels to inform possible future consideration of a recommendation that the Adviser add an additional breakpoint to the fee schedule.



116 AB Global Bond Fund		ABFunds.com

LOGO

AB GLOBAL BOND FUND

66 Hudson Boulevard East

New York, NY 10001

800 221 5672

GB-0152-0326 LOGO

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

There were no disagreements with accountants during the reporting period.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES

There were no shareholder meetings during the reporting period.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Aggregate remuneration paid to all Directors and advisory board members are included within the Financial Statements under Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Statement regarding basis for Approval of Investment Advisory Contract included within the Financial Statements under Item 7 of this Form N-CSR.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable to the registrant.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to the registrant.

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board of Directors since the Fund last provided disclosure in response to this item.

ITEM 16. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no changes in the registrant’s internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable to the registrant.

ITEM 19. EXHIBITS.

The following exhibits are attached to this Form N-CSR:


EXHIBIT NO.		DESCRIPTION OF EXHIBIT

19(b)(1)		Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

19(b)(2)		Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

19(c)		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant): AB Global Bond Fund, Inc.

By:		/s/ Onur Erzan
		Onur Erzan
		President

Date:		May 27, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ Onur Erzan
		Onur Erzan
		President

Date:		May 27, 2026

By:		/s/ Stephen M. Woetzel
		Stephen M. Woetzel
		Treasurer and Chief Financial Officer

Date:		May 27, 2026

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

CERTIFICATIONS PURSUANT TO SECTION 302

CERTIFICATIONS PURSUANT TO SECTION 906

XBRL TAXONOMY EXTENSION SCHEMA

IDEA: R1.htm

IDEA: R2.htm

IDEA: R3.htm

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: d137797dncsrs_htm.xml