Principal

Amount

(000)

CORPORATES - INVESTMENT GRADE – 96.4%

Industrial – 58.1%

Basic – 1.9%

FMC Corp.
8.00%, 06/01/2031^(a)

Nutrien Ltd.
4.90%, 03/27/2028

Rio Tinto Alcan, Inc.
6.125%, 12/15/2033

Steel Dynamics, Inc.
4.00%, 12/15/2028

Capital Goods – 2.7%

3M Co.
3.375%, 03/01/2029

CRH America Finance, Inc.
5.00%, 02/09/2036

General Dynamics Corp.
3.625%, 04/01/2030

HEICO Corp.
4.95%, 08/01/2031

Johnson Controls International PLC/Tyco Fire & Security Finance SCA
1.75%, 09/15/2030

Parker-Hannifin Corp.
3.25%, 06/14/2029

4.25%, 09/15/2027

Regal Rexnord Corp.
6.05%, 04/15/2028

Trane Technologies Financing Ltd.
3.80%, 03/21/2029

Communications - Media – 4.2%

Charter Communications Operating LLC/Charter Communications Operating Capital
3.75%, 02/15/2028

6.10%, 06/01/2029

6.484%, 10/23/2045

Cox Communications, Inc.
5.45%, 09/01/2034^(a)

5.80%, 12/15/2053^(a)

5.95%, 09/01/2054^(a)

Meta Platforms, Inc.
4.65%, 08/15/2062

5.60%, 05/15/2053

5.625%, 11/15/2055

5.75%, 05/15/2063

5.75%, 11/15/2065

Space Exploration Technologies Corp.
5.35%, 07/15/2031^(a)

Communications - Telecommunications – 1.8%

AT&T, Inc.
3.50%, 09/15/2053

4.55%, 03/09/2049

5.70%, 11/01/2054

6.05%, 08/15/2056

QTS Fayetteville I Dc1-2 LLC/QTS TRS Fayetteville I DC1-2 LLC
5.70%, 04/15/2036^(a)

Principal

Amount

(000)

Verizon Communications, Inc.
4.272%, 01/15/2036

5.012%, 08/21/2054

6.00%, 11/30/2065

Consumer Cyclical - Automotive – 1.2%

American Honda Finance Corp.
5.15%, 07/09/2032

Series G
4.45%, 10/22/2027

4.50%, 09/04/2030

5.05%, 07/10/2031

Cummins, Inc.
5.15%, 02/20/2034

Consumer Cyclical - Entertainment – 0.5%

Carnival Corp., Ltd.
5.75%, 03/15/2030^(a)

Consumer Cyclical - Other – 0.5%

JH North America Holdings, Inc.
6.125%, 07/31/2032^(a)

Owens Corning
5.70%, 06/15/2034

Consumer Cyclical - Restaurants – 0.5%

1011778 BC ULC/New Red Finance, Inc.
6.125%, 06/15/2029^(a)

Consumer Cyclical - Retailers – 0.6%

7-Eleven, Inc.
1.80%, 02/10/2031^(a)

Tapestry, Inc.
5.50%, 03/11/2035

Consumer Non-Cyclical – 13.0%

AbbVie, Inc.
5.50%, 03/15/2064

Altria Group, Inc.
3.875%, 09/16/2046

5.375%, 01/31/2044

5.95%, 02/14/2049

Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
4.70%, 02/01/2036

Anheuser-Busch InBev Worldwide, Inc.
8.20%, 01/15/2039

Archer-Daniels-Midland Co.
3.25%, 03/27/2030

Biogen, Inc.
2.25%, 05/01/2030

Bristol-Myers Squibb Co.
3.55%, 03/15/2042

4.55%, 02/20/2048

5.90%, 11/15/2033

Campbell’s Co. (The)
5.40%, 03/21/2034

Cardinal Health, Inc.
4.50%, 09/15/2030

5.125%, 02/15/2029

5.35%, 11/15/2034

Principal

Amount

(000)

Eli Lilly & Co.
4.95%, 02/27/2063

5.20%, 08/14/2064

5.60%, 02/12/2065

5.65%, 10/15/2065

Kimberly-Clark Corp.
3.10%, 03/26/2030

Mars, Inc.
5.65%, 05/01/2045^(a)

Merck & Co., Inc.
1.45%, 06/24/2030

4.90%, 05/17/2044

5.00%, 05/17/2053

5.15%, 05/17/2063

5.70%, 09/15/2055

5.70%, 12/04/2065

Novartis Capital Corp.
2.20%, 08/14/2030

3.80%, 09/18/2029

4.10%, 11/05/2030

Pfizer Investment Enterprises Pte. Ltd.
4.75%, 05/19/2033

Royalty Pharma PLC
1.75%, 09/02/2027

Smith & Nephew PLC
2.032%, 10/14/2030

Sysco Corp.
5.10%, 09/23/2030

5.95%, 04/01/2030

6.60%, 04/01/2050

Wyeth LLC
6.50%, 02/01/2034

Zoetis, Inc.
2.00%, 05/15/2030

Energy – 10.4%

Baker Hughes Holdings LLC
5.125%, 09/15/2040

Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.
4.65%, 06/15/2033

Eastern Energy Gas Holdings LLC
5.65%, 10/15/2054

Enterprise Products Operating LLC
Series E
5.25%, 08/16/2077

Harbour Energy Finance 2 PLC
6.327%, 04/01/2035^(a)

Kinder Morgan, Inc.
2.00%, 02/15/2031

MPLX LP
4.00%, 03/15/2028

ONEOK, Inc.
5.70%, 11/01/2054

6.625%, 09/01/2053

Pioneer Natural Resources Co.
1.90%, 08/15/2030

2.15%, 01/15/2031

Plains All American Pipeline LP
5.95%, 06/15/2035

Plains All American Pipeline LP/PAA Finance Corp.
5.60%, 01/15/2036

Schlumberger Holdings Corp.
2.65%, 06/26/2030^(a)

Shell Finance US, Inc.
4.00%, 05/10/2046

5.50%, 03/25/2040

6.375%, 12/15/2038

Principal

Amount

(000)

Targa Resources Corp.
4.90%, 09/15/2030

5.40%, 07/30/2036

6.50%, 02/15/2053

Tennessee Gas Pipeline Co. LLC
2.90%, 03/01/2030^(a)

TotalEnergies Capital International SA
2.829%, 01/10/2030

Williams Cos., Inc. (The)
2.60%, 03/15/2031

4.625%, 06/30/2030

5.30%, 08/15/2052

5.65%, 03/15/2033

Woodside Finance Ltd.
5.40%, 05/19/2030

6.00%, 05/19/2035

Other Industrial – 0.5%

LKQ Corp.
5.75%, 06/15/2028

Services – 4.1%

Amazon.com, Inc.
3.25%, 05/12/2061

4.10%, 04/13/2062

4.25%, 08/22/2057

4.875%, 03/13/2036

5.55%, 11/20/2065

5.80%, 03/13/2056

6.05%, 03/13/2076

eBay, Inc.
2.70%, 03/11/2030

4.00%, 07/15/2042

Expedia Group, Inc.
5.40%, 02/15/2035

Quanta Services, Inc.
2.90%, 10/01/2030

Technology – 14.4%

Advanced Micro Devices, Inc.
4.60%, 08/17/2029

5.00%, 08/17/2031

5.25%, 08/17/2033

Alphabet, Inc.
5.25%, 05/15/2055

5.30%, 05/15/2065

5.70%, 11/15/2075

5.75%, 02/15/2066

Amphenol Corp.
4.40%, 02/15/2033

4.625%, 02/15/2036

Apple, Inc.
2.55%, 08/20/2060

2.85%, 08/05/2061

4.10%, 08/08/2062

4.45%, 05/06/2044

Applied Materials, Inc.
1.75%, 06/01/2030

Broadcom, Inc.
3.419%, 04/15/2033

4.80%, 10/15/2034

Principal

Amount

(000)

4.80%, 02/15/2036

4.95%, 01/15/2036

5.20%, 07/15/2035

Cisco Systems, Inc.
5.35%, 02/26/2064

Gartner, Inc.
3.625%, 06/15/2029^(a)

4.50%, 07/01/2028^(a)

Hewlett Packard Enterprise Co.
4.40%, 09/25/2027

Honeywell International, Inc.
2.70%, 08/15/2029

Lam Research Corp.
1.90%, 06/15/2030

4.00%, 03/15/2029

NVIDIA Corp.
3.50%, 04/01/2040

5.55%, 06/15/2046

5.625%, 06/15/2056

NXP BV/NXP Funding LLC/NXP USA, Inc.
2.50%, 05/11/2031

Oracle Corp.
2.30%, 03/25/2028

3.25%, 11/15/2027

3.95%, 03/25/2051

4.45%, 09/26/2030

4.80%, 08/03/2028

4.80%, 09/26/2032

4.90%, 02/06/2033

5.20%, 09/26/2035

5.35%, 05/04/2033

5.50%, 08/03/2035

5.875%, 09/26/2045

5.95%, 09/26/2055

6.00%, 08/03/2055

QUALCOMM, Inc.
6.00%, 05/20/2053

Salesforce, Inc.
1.95%, 07/15/2031

3.05%, 07/15/2061

5.55%, 03/15/2036

6.55%, 03/15/2056

VMware LLC
4.70%, 05/15/2030

Xilinx, Inc.
2.375%, 06/01/2030

Transportation - Airlines – 1.3%

Delta Air Lines, Inc./SkyMiles IP Ltd.
4.75%, 10/20/2028^(a)

United Airlines 2020-1 Class A Pass Through Trust
Series 20-1
5.875%, 04/15/2029

United Airlines, Inc.
4.625%, 04/15/2029^(a)

Transportation - Services – 0.5%

ERAC USA Finance LLC
4.90%, 05/01/2033^(a)

Principal

Amount

(000)

Financial Institutions – 34.1%

Banking – 22.1%

American Express Co.
4.731%, 04/25/2029

4.989%, 05/26/2033

Bank of America Corp.
3.419%, 12/20/2028

Bank of Montreal
4.062%, 09/22/2028

Bank of New York Mellon Corp. (The)
4.706%, 02/01/2034

4.975%, 03/14/2030

5.06%, 07/22/2032

6.317%, 10/25/2029

6.474%, 10/25/2034

Bank of Nova Scotia (The)
4.043%, 09/15/2028

4.404%, 09/08/2028

5.13%, 02/14/2031

Canadian Imperial Bank of Commerce
4.243%, 09/08/2028

4.857%, 03/30/2029

Capital One Financial Corp.
2.359%, 07/29/2032

6.183%, 01/30/2036

7.964%, 11/02/2034

Citigroup, Inc.
2.572%, 06/03/2031

3.52%, 10/27/2028

4.503%, 09/11/2031

5.827%, 02/13/2035

6.02%, 01/24/2036

6.174%, 05/25/2034

Citizens Financial Group, Inc.
5.718%, 07/23/2032

6.645%, 04/25/2035

Goldman Sachs Group, Inc. (The)
3.102%, 02/24/2033

3.814%, 04/23/2029

4.153%, 10/21/2029

4.223%, 05/01/2029

4.369%, 10/21/2031

4.594%, 04/20/2030

4.939%, 10/21/2036

5.049%, 07/23/2030

5.094%, 04/20/2034

5.207%, 01/28/2031

5.218%, 04/23/2031

5.33%, 07/23/2035

5.536%, 01/28/2036

5.727%, 04/25/2030

5.851%, 04/25/2035

6.484%, 10/24/2029

6.75%, 10/01/2037

HSBC Holdings PLC
6.50%, 09/15/2037

Huntington Bancshares, Inc./OH
2.55%, 02/04/2030

JPMorgan Chase & Co.
2.956%, 05/13/2031

5.103%, 04/22/2031

M&T Bank Corp.
5.179%, 07/08/2031

Principal

Amount

(000)

Morgan Stanley
2.484%, 09/16/2036

5.164%, 04/20/2029

5.173%, 01/16/2030

5.192%, 04/17/2031

5.23%, 01/15/2031

5.297%, 04/20/2037

5.449%, 07/20/2029

5.831%, 04/19/2035

Series G
2.699%, 01/22/2031

3.772%, 01/24/2029

Series I
4.133%, 10/18/2029

4.356%, 10/22/2031

4.892%, 10/22/2036

PNC Financial Services Group, Inc. (The)
4.626%, 06/06/2033

4.831%, 07/19/2030

5.373%, 07/21/2036

5.401%, 07/23/2035

5.463%, 07/21/2037

5.676%, 01/22/2035

6.875%, 10/20/2034

Regions Financial Corp.
5.502%, 09/06/2035

5.722%, 06/06/2030

Royal Bank of Canada
4.40%, 04/17/2030

4.612%, 05/03/2032

Series G
4.965%, 01/24/2029

5.153%, 02/04/2031

State Street Corp.
2.20%, 03/03/2031

3.031%, 11/01/2034

4.164%, 08/04/2033

Synchrony Financial
4.947%, 02/25/2032

US Bancorp
4.839%, 02/01/2034

4.967%, 07/22/2033

5.046%, 02/12/2031

5.85%, 10/21/2033

Wells Fargo & Co.
4.078%, 09/15/2029

Westpac Banking Corp.
6.82%, 11/17/2033

Brokerage – 0.4%

Blue Owl Finance LLC
6.25%, 04/18/2034

Finance – 6.6%

Apollo Debt Solutions BDC
5.70%, 01/23/2031^(a)

6.70%, 07/29/2031

6.90%, 04/13/2029

Ares Capital Corp.
5.10%, 01/15/2031

5.50%, 09/01/2030

5.875%, 03/01/2029

5.95%, 07/15/2029

Principal

Amount

(000)

Ares Strategic Income Fund
4.85%, 01/15/2029

5.15%, 01/15/2031

5.70%, 03/15/2028

Barings BDC, Inc.
5.20%, 09/15/2028

Barings Private Credit Corp.
6.50%, 08/18/2031^(a)

Blackstone Private Credit Fund
5.95%, 07/16/2029

6.00%, 11/22/2034

Blackstone Secured Lending Fund
5.125%, 01/31/2031

Blue Owl Credit Income Corp.
5.80%, 03/15/2030

6.60%, 09/15/2029

6.65%, 03/15/2031

Carlyle Secured Lending, Inc.
5.75%, 02/15/2031

Franklin BSP Capital Corp.
6.00%, 10/02/2030

Goldman Sachs Private Credit Corp.
6.15%, 06/16/2031^(a)

Golub Capital Private Credit Fund
5.875%, 05/01/2030

HA Sustainable Infrastructure Capital, Inc.
6.375%, 07/01/2034

6.75%, 07/15/2035

HPS Corporate Lending Fund
4.90%, 09/11/2028

5.45%, 01/14/2028

5.45%, 11/15/2030

5.85%, 06/05/2030

North Haven Private Income Fund LLC
5.125%, 09/25/2028

Oaktree Specialty Lending Corp.
6.34%, 02/27/2030

Oaktree Strategic Credit Fund
6.19%, 07/15/2030

Sixth Street Lending Partners
6.125%, 07/15/2030

6.50%, 03/11/2029

Financial Services – 0.5%

Equinix Europe 2 Financing Corp. LLC
5.50%, 06/15/2034

Insurance – 2.6%

Athene Global Funding
5.133%, 06/01/2029^(a)

Athene Holding Ltd.
6.25%, 04/01/2054

6.625%, 05/19/2055

Jackson National Life Global Funding
4.55%, 09/09/2030^(a)

MetLife, Inc.
6.40%, 12/15/2066

Prudential Financial, Inc.
4.50%, 09/15/2047

5.70%, 09/15/2048

SBL Holdings, Inc.
7.20%, 10/30/2034^(a)

Western-Southern Global Funding
4.875%, 08/27/2029^(a)

Principal

Amount

(000)

REITs – 1.9%

Alexandria Real Estate Equities, Inc.
2.95%, 03/15/2034

CBRE Services, Inc.
5.95%, 08/15/2034

Equinix, Inc.
2.50%, 05/15/2031

VICI Properties LP/VICI Note Co., Inc.
4.625%, 12/01/2029^(a)

Utility – 4.2%

Electric – 4.1%

AES Corp. (The)
2.45%, 01/15/2031

Consolidated Edison Co. of New York, Inc.
5.15%, 06/15/2036

5.875%, 06/15/2056

ENEL Finance International NV
6.00%, 10/07/2039^(a)

Eversource Energy
5.45%, 03/01/2028

NextEra Energy Capital Holdings, Inc.
5.65%, 05/01/2079

5.90%, 03/15/2055

Niagara Mohawk Power Corp.
4.647%, 10/03/2030^(a)

5.996%, 07/03/2055^(a)

Public Service Co. of Colorado
1.875%, 06/15/2031

Southern California Edison Co.
5.30%, 03/01/2028

5.85%, 11/01/2027

Other Utility – 0.1%

Boston Gas Co.
3.15%, 08/01/2027^(a)

Total Corporates - Investment Grade
(cost $27,273,008)

SHORT-TERM INVESTMENTS – 1.4%

Investment Companies – 1.4%

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.51%^{(b) (c) (d)}
(cost $386,933)

Total Investments – 97.8%
(cost $27,659,941)^(e)

Other assets less liabilities – 2.2%

Net Assets – 100.0%

Current

Notional

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 August 31, 2026, the aggregate market value of these securities amounted to $2,819,988 or 10.2% of net assets.

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

Affiliated investments.

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.

As of August 31, 2026 the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $301,776 and gross unrealized depreciation of investments was $864,101, resulting in net unrealized depreciation of $562,325.

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)

Investments in Securities:

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.