COMMON STOCKS – 99.3%

Financials – 22.7%

Banks – 17.7%

1st Source Corp.

Amalgamated Financial Corp.

Bank of Marin Bancorp

Bridgewater Bancshares, Inc.^(a)

Civista Bancshares, Inc.

Eagle Bancorp, Inc.

First BanCorp/Puerto Rico

First Bancorp/Southern Pines NC

Flagstar Bank NA

Heritage Financial Corp./WA

HomeTrust Bancshares, Inc.

Independent Bank Corp.

Mid Penn Bancorp, Inc.

Nicolet Bankshares, Inc.

Texas Capital Bancshares, Inc.^(a)

TriCo Bancshares

UMB Financial Corp.

WaFd, Inc.

WSFS Financial Corp.

Capital Markets – 0.9%

Federated Hermes, Inc.

Financial Services – 3.1%

HA Sustainable Infrastructure Capital, Inc.

NCR Atleos Corp.^(a)

Walker & Dunlop, Inc.

Insurance – 1.0%

Horace Mann Educators Corp.

Industrials – 20.4%

Aerospace & Defense – 1.1%

Ducommun, Inc.^(a)

Air Freight & Logistics – 1.2%

GXO Logistics, Inc.^(a)

Building Products – 0.9%

Gibraltar Industries, Inc.^(a)

Commercial Services & Supplies – 1.4%

Montrose Environmental Group, Inc.^(a)

Construction & Engineering – 3.5%

BrightView Holdings, Inc.^(a)

Cardinal Infrastructure Group, Inc. - Class A^(a)

WillScot Holdings Corp.

Ground Transportation – 3.3%

ArcBest Corp.

FTAI Infrastructure, Inc.^(b)

Knight-Swift Transportation Holdings, Inc.

Machinery – 3.4%

Blue Bird Corp.^(a)

JBT Marel Corp.

Terex Corp.

Marine Transportation – 2.1%

Kirby Corp.^(a)

Star Bulk Carriers Corp.

Professional Services – 2.4%

CBIZ, Inc.^(a)

First Advantage Corp.^{(a) (b)}

Franklin Covey Co.^{(a) (b)}

Robert Half, Inc.

Trading Companies & Distributors – 1.1%

Boise Cascade Co.

Consumer Discretionary – 13.0%

Automobile Components – 1.8%

BorgWarner, Inc.

Strattec Security Corp.^(a)

Automobiles – 1.0%

Winnebago Industries, Inc.

Diversified Consumer Services – 3.0%

ADT, Inc.

Frontdoor, Inc.^(a)

Laureate Education, Inc.^(a)

Hotels, Restaurants & Leisure – 1.7%

Bloomin’ Brands, Inc.

Monarch Casino & Resort, Inc.

Household Durables – 0.8%

Taylor Morrison Home Corp.^(a)

Leisure Products – 1.0%

Callaway Golf Co.^(a)

Specialty Retail – 1.6%

AutoNation, Inc.^(a)

Winmark Corp.

Textiles, Apparel & Luxury Goods – 2.1%

Oxford Industries, Inc.^(b)

Rocky Brands, Inc.

Information Technology – 9.1%

Communications Equipment – 2.0%

Calix, Inc.^(a)

Extreme Networks, Inc.^(a)

Harmonic, Inc.^(a)

Electronic Equipment, Instruments & Components – 3.0%

Avnet, Inc.

Crane NXT Co.^(b)

IPG Photonics Corp.^(a)

IT Services – 0.6%

Grid Dynamics Holdings, Inc.^(a)

Semiconductors & Semiconductor Equipment – 3.0%

FormFactor, Inc.^(a)

Penguin Solutions, Inc.^(a)

Universal Display Corp.

Software – 0.5%

ACI Worldwide, Inc.^(a)

Real Estate – 7.5%

Diversified REITs – 0.8%

Broadstone Net Lease, Inc.

Health Care REITs – 0.7%

American Healthcare REIT, Inc.

Hotel & Resort REITs – 0.6%

Ryman Hospitality Properties, Inc.

Industrial REITs – 0.7%

STAG Industrial, Inc.

Office REITs – 1.3%

COPT Defense Properties

Residential REITs – 1.1%

Independence Realty Trust, Inc.

Retail REITs – 1.8%

Acadia Realty Trust

NETSTREIT Corp.^(b)

Specialized REITs – 0.5%

National Storage Affiliates Trust

Energy – 7.3%

Energy Equipment & Services – 2.9%

Seadrill Ltd.^(a)

Select Water Solutions, Inc.

Oil, Gas & Consumable Fuels – 4.4%

Magnolia Oil & Gas Corp. - Class A

Matador Resources Co.

NexGen Energy Ltd.^{(a) (b)}

Northern Oil & Gas, Inc.

Materials – 6.1%

Chemicals – 3.5%

AdvanSix, Inc.

Avient Corp.

Element Solutions, Inc.

Methanex Corp.

Containers & Packaging – 1.2%

O-I Glass, Inc.^(a)

Metals & Mining – 1.4%

Worthington Steel, Inc.

Health Care – 5.9%

Biotechnology – 0.6%

Cytokinetics, Inc.^{(a) (b)}

Health Care Equipment & Supplies – 3.7%

Envista Holdings Corp.^(a)

Globus Medical, Inc. - Class A^(a)

Integer Holdings Corp.^(a)

Health Care Providers & Services – 0.6%

Pediatrix Medical Group, Inc.^(a)

Life Sciences Tools & Services – 1.0%

Bio-Techne Corp.

Utilities – 3.7%

Electric Utilities – 1.2%

IDACORP, Inc.

Gas Utilities – 2.5%

Chesapeake Utilities Corp.

ONE Gas, Inc.

Consumer Staples – 2.4%

Food Products – 1.2%

Seneca Foods Corp. - Class A^(a)

Household Products – 1.2%

WD-40 Co.

Communication Services – 1.2%

Media – 1.2%

Scholastic Corp.

Total Common Stocks
(cost $473,032,346)

SHORT-TERM INVESTMENTS – 1.4%

Investment Companies – 1.4%

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%^{(c) (d) (e)}
(cost $7,904,050)

Total Investments Before Security Lending Collateral for Securities Loaned – 100.7%
(cost $480,936,396)

INVESTMENTS OF CASH COLLATERAL FOR SECURITIES LOANED – 0.8%

Investment Companies – 0.8%

AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 3.53%^{(c) (d) (e)}
(cost $4,771,556)

Total Investments – 101.5%
(cost $485,707,952)^(f)

Other assets less liabilities – (1.5)%

Net Assets – 100.0%

Non-income producing security.

Represents entire or partial securities out on loan.

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 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 $119,197,438 and gross unrealized depreciation of investments was $(22,768,491), resulting in net unrealized appreciation of $96,428,947.

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:

See Portfolio of Investments for sector classifications.

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.

Investments of cash collateral for securities lending transactions.