Principal

Amount

(000)

CORPORATES - INVESTMENT GRADE – 96.6%

Industrial – 50.8%

Basic – 0.8%

Dow Chemical Co. (The)
4.80%, 01/15/2031

5.35%, 03/15/2035

5.65%, 03/15/2036

LYB International Finance III LLC
6.15%, 05/15/2035

Nutrien Ltd.
4.90%, 03/27/2028

Capital Goods – 4.1%

3M Co.
2.875%, 10/15/2027

3.375%, 03/01/2029

4.00%, 09/14/2048

CNH Industrial Capital LLC
4.75%, 03/21/2028

CRH America Finance, Inc.
4.40%, 02/09/2031

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

Northrop Grumman Corp.
3.25%, 01/15/2028

4.40%, 05/01/2030

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

4.25%, 09/15/2027

4.50%, 09/15/2029

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

RTX Corp.
3.125%, 05/04/2027

Communications - Media – 3.4%

Charter Communications Operating LLC/Charter Communications Operating Capital
6.484%, 10/23/2045

Cox Communications, Inc.
5.80%, 12/15/2053^(a)

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

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

5.625%, 11/15/2055

5.75%, 05/15/2063

5.75%, 11/15/2065

Paramount Global
4.375%, 03/15/2043

4.95%, 01/15/2031

4.95%, 05/19/2050

Principal

Amount

(000)

Communications - Telecommunications – 0.2%

AT&T, Inc.
5.70%, 11/01/2054

6.05%, 08/15/2056

Consumer Cyclical - Automotive – 1.7%

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

Series G
4.45%, 10/22/2027

4.50%, 09/04/2030

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

5.45%, 02/20/2054

General Motors Co.
6.60%, 04/01/2036

Hyundai Capital America
4.25%, 09/18/2028^(a)

Consumer Cyclical - Other – 1.2%

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

Las Vegas Sands Corp.
3.90%, 08/08/2029

5.625%, 06/15/2028

5.90%, 06/01/2027

Consumer Cyclical - Retailers – 2.0%

Genuine Parts Co.
4.95%, 08/15/2029

Home Depot, Inc. (The)
5.875%, 12/16/2036

Lowe’s Cos., Inc.
1.30%, 04/15/2028

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

Consumer Non-Cyclical – 14.6%

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

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

5.25%, 08/06/2035

5.95%, 02/14/2049

Amgen, Inc.
5.15%, 03/02/2028

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

BAT Capital Corp.
5.282%, 04/02/2050

6.25%, 08/15/2055

7.079%, 08/02/2043

Principal

Amount

(000)

Bristol-Myers Squibb Co.
4.55%, 02/20/2048

5.55%, 02/22/2054

Cardinal Health, Inc.
3.41%, 06/15/2027

4.50%, 09/15/2030

5.125%, 02/15/2029

5.35%, 11/15/2034

Cargill, Inc.
4.125%, 10/23/2030^(a)

Cencora, Inc.
3.45%, 12/15/2027

Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International US LLC
5.60%, 01/15/2031^(a)

CVS Health Corp.
6.20%, 09/15/2055

Eli Lilly & Co.
4.90%, 10/15/2035

4.95%, 02/27/2063

5.20%, 08/14/2064

5.55%, 10/15/2055

5.60%, 02/12/2065

5.65%, 10/15/2065

Gilead Sciences, Inc.
5.50%, 11/15/2054

5.55%, 10/15/2053

5.60%, 11/15/2064

Keurig Dr. Pepper, Inc.
3.20%, 05/01/2030

4.60%, 05/15/2030

5.05%, 03/15/2029

Series 31*
2.25%, 03/15/2031

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

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

Merck & Co., Inc.
5.00%, 05/17/2053

5.15%, 05/17/2063

5.70%, 09/15/2055

5.70%, 12/04/2065

Novartis Capital Corp.
4.10%, 11/05/2030

4.30%, 11/05/2032

Philip Morris International, Inc.
2.10%, 05/01/2030

Reynolds American, Inc.
5.85%, 08/15/2045

Royalty Pharma PLC
1.75%, 09/02/2027

Sysco Corp.
5.10%, 09/23/2030

5.95%, 04/01/2030

Viatris, Inc.
3.85%, 06/22/2040

4.00%, 06/22/2050

Principal

Amount

(000)

Energy – 6.3%

Energy Transfer LP
6.20%, 04/01/2055

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

MPLX LP
6.20%, 09/15/2055

ONEOK, Inc.
6.625%, 09/01/2053

Phillips 66
5.875%, 05/01/2042

Santos Finance Ltd.
5.75%, 11/13/2035^(a)

Shell Finance US, Inc.
5.50%, 03/25/2040^(a)

6.375%, 12/15/2038^(a)

Suncor Energy, Inc.
6.85%, 06/01/2039

Targa Resources Corp.
4.35%, 01/15/2029

5.40%, 07/30/2036

6.50%, 02/15/2053

Williams Cos., Inc. (The)
5.65%, 03/15/2033

Woodside Finance Ltd.
5.10%, 09/12/2034

5.40%, 05/19/2030

6.00%, 05/19/2035

Other Industrial – 0.5%

LKQ Corp.
5.75%, 06/15/2028

Services – 3.6%

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

4.10%, 04/13/2062

4.25%, 08/22/2057

5.55%, 11/20/2065

Quanta Services, Inc.
4.30%, 08/09/2028

RELX Capital, Inc.
4.00%, 03/18/2029

4.75%, 03/27/2030

S&P Global, Inc.
2.45%, 03/01/2027

2.70%, 03/01/2029

4.25%, 05/01/2029

Principal

Amount

(000)

Technology – 11.0%

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

5.30%, 05/15/2065

5.70%, 11/15/2075

Amphenol Corp.
3.80%, 11/15/2027

4.40%, 02/15/2033

4.625%, 02/15/2036

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

2.85%, 08/05/2061

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

Broadridge Financial Solutions, Inc.
2.60%, 05/01/2031

2.90%, 12/01/2029

Cisco Systems, Inc.
5.30%, 02/26/2054

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.
1.10%, 03/01/2027

2.70%, 08/15/2029

4.25%, 01/15/2029

5.25%, 03/01/2054

Intel Corp.
3.75%, 03/25/2027

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

4.00%, 03/15/2029

NVIDIA Corp.
2.85%, 04/01/2030

Oracle Corp.
2.30%, 03/25/2028

2.80%, 04/01/2027

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

5.20%, 09/26/2035

5.875%, 09/26/2045

5.95%, 09/26/2055

6.00%, 08/03/2055

6.10%, 09/26/2065

6.125%, 08/03/2065

Texas Instruments, Inc.
5.05%, 05/18/2063

Principal

Amount

(000)

Transportation - Airlines – 0.8%

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

Transportation - Services – 0.6%

Element Fleet Management Corp.
5.037%, 03/25/2030^(a)

XPO, Inc.
6.25%, 06/01/2028^(a)

Financial Institutions – 38.4%

Banking – 21.3%

Ally Financial, Inc.
5.737%, 05/15/2029

8.00%, 11/01/2031

American Express Co.
4.351%, 07/20/2029

4.731%, 04/25/2029

4.804%, 10/24/2036

4.918%, 07/20/2033

5.085%, 01/30/2031

5.098%, 02/16/2028

5.667%, 04/25/2036

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

3.705%, 04/24/2028

4.376%, 04/27/2028

5.468%, 01/23/2035

5.518%, 10/25/2035

5.744%, 02/12/2036

5.872%, 09/15/2034

Series G
3.593%, 07/21/2028

Bank of Montreal
4.062%, 09/22/2028

4.35%, 09/22/2031

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

4.338%, 09/15/2031

5.13%, 02/14/2031

Canadian Imperial Bank of Commerce
5.245%, 01/13/2031

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

5.197%, 09/11/2036

6.183%, 01/30/2036

7.964%, 11/02/2034

Citigroup, Inc.
3.668%, 07/24/2028

4.503%, 09/11/2031

4.658%, 05/24/2028

5.333%, 03/27/2036

Principal

Amount

(000)

5.827%, 02/13/2035

6.02%, 01/24/2036

6.174%, 05/25/2034

Series VAR
3.07%, 02/24/2028

Citizens Financial Group, Inc.
5.253%, 03/05/2031

5.718%, 07/23/2032

Goldman Sachs Group, Inc. (The)
2.64%, 02/24/2028

3.615%, 03/15/2028

3.814%, 04/23/2029

4.153%, 10/21/2029

4.223%, 05/01/2029

4.369%, 10/21/2031

4.937%, 04/23/2028

4.939%, 10/21/2036

5.049%, 07/23/2030

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

JPMorgan Chase & Co.
2.947%, 02/24/2028

2.956%, 05/13/2031

3.54%, 05/01/2028

4.323%, 04/26/2028

5.14%, 01/24/2031

5.571%, 04/22/2028

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

Morgan Stanley
4.21%, 04/20/2028

5.164%, 04/20/2029

5.173%, 01/16/2030

5.192%, 04/17/2031

5.23%, 01/15/2031

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)
5.373%, 07/21/2036

5.575%, 01/29/2036

5.676%, 01/22/2035

6.875%, 10/20/2034

Royal Bank of Canada
4.498%, 08/06/2029

4.696%, 08/06/2031

Series G
4.715%, 03/27/2028

5.153%, 02/04/2031

Principal

Amount

(000)

Santander Holdings USA, Inc.
6.174%, 01/09/2030

State Street Corp.
3.031%, 11/01/2034

Synchrony Financial
2.875%, 10/28/2031

5.935%, 08/02/2030

US Bancorp
4.967%, 07/22/2033

Wells Fargo & Co.
3.526%, 03/24/2028

4.078%, 09/15/2029

4.97%, 04/23/2029

Brokerage – 1.8%

Apollo Global Management, Inc.
5.80%, 05/21/2054

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

Jefferies Financial Group, Inc.
6.20%, 04/14/2034

Raymond James Financial, Inc.
5.65%, 09/11/2055

Finance – 7.1%

Apollo Debt Solutions BDC
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

Ares Strategic Income Fund
4.85%, 01/15/2029^(a)

5.15%, 01/15/2031^(a)

5.70%, 03/15/2028

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

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

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

Blue Owl Capital Corp.
5.95%, 03/15/2029

6.20%, 07/15/2030

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

6.60%, 09/15/2029

Brookfield Finance, Inc.
5.33%, 01/15/2036

5.813%, 03/03/2055

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

Franklin BSP Capital Corp.
6.00%, 10/02/2030^(a)

Principal

Amount

(000)

FS KKR Capital Corp.
3.125%, 10/12/2028

6.125%, 01/15/2030

6.875%, 08/15/2029

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^(a)

5.30%, 06/05/2027^(a)

5.45%, 11/15/2030^(a)

5.85%, 06/05/2030^(a)

North Haven Private Income Fund LLC
5.125%, 09/25/2028^(a)

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

Oaktree Strategic Credit Fund
6.19%, 07/15/2030^(a)

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

6.50%, 03/11/2029

Financial Services – 0.7%

Omnis Funding Trust
6.722%, 05/15/2055^(a)

Sammons Financial Group Global Funding
4.95%, 06/12/2030^(a)

5.05%, 01/10/2028^(a)

Insurance – 5.9%

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

6.625%, 05/19/2055

Brighthouse Financial, Inc.
4.70%, 06/22/2047

Centene Corp.
2.625%, 08/01/2031

3.00%, 10/15/2030

3.375%, 02/15/2030

4.625%, 12/15/2029

CNO Global Funding
5.875%, 06/04/2027^(a)

Health Care Service Corp. A Mutual Legal Reserve Co.
2.20%, 06/01/2030^(a)

Humana, Inc.
3.70%, 03/23/2029

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

Manulife Financial Corp.
4.986%, 12/11/2035

Principal

Amount

(000)

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

9.25%, 04/08/2068^(a)

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

5.70%, 09/15/2048

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

Unum Group
6.00%, 06/15/2054

REITs – 1.6%

CBRE Services, Inc.
4.80%, 06/15/2030

5.50%, 04/01/2029

5.95%, 08/15/2034

Store Capital LLC
5.40%, 04/30/2030

WEA Finance LLC
3.50%, 06/15/2029^(a)

Utility – 7.4%

Electric – 7.2%

Eversource Energy
5.45%, 03/01/2028

5.95%, 02/01/2029

ITC Holdings Corp.
4.95%, 09/22/2027^(a)

Jersey Central Power & Light Co.
4.15%, 01/15/2029^(a)

4.40%, 01/15/2031^(a)

NextEra Energy Capital Holdings, Inc.
4.85%, 02/04/2028

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)

Pacific Gas & Electric Co.
3.75%, 07/01/2028

PacifiCorp
2.90%, 06/15/2052

3.30%, 03/15/2051

4.125%, 01/15/2049

San Diego Gas & Electric Co.
5.40%, 04/15/2035

Sempra
3.40%, 02/01/2028

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

5.45%, 06/01/2031

5.85%, 11/01/2027

Xcel Energy, Inc.
4.75%, 03/21/2028

Principal

Amount

(000)

Other Utility – 0.2%

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

Total Corporates - Investment Grade
(cost $25,957,233)

SHORT-TERM INVESTMENTS – 1.3%

Investment Companies – 1.3%

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%^{(b) (c) (d)}
(cost $350,912)

Total Investments – 97.9%
(cost $26,308,145)^(e)

Other assets less liabilities – 2.1%

Net Assets – 100.0%

Number

of

Contracts

Current

Notional

Value and

Unrealized

Appreciation

(Depreciation)

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 February 28, 2026, the aggregate market value of these securities amounted to $2,837,820 or 10.5% of net assets.

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.

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

Affiliated investments.

As of February 28, 2026, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $464,628 and gross unrealized depreciation of investments was $(257,217), resulting in net unrealized appreciation of $207,411.

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.

Market Value

11/30/2025

(000)

Purchases

at Cost

(000)

Sales

Proceeds

(000)

Market Value

02/28/2026

(000)

Dividend

Income

(000)