AB Global High Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

Portfolio %

1) U.S. Treasury Notes  2.25%, 2/15/27 

3.12%

2) U.S. Treasury Notes  2.875%, 8/15/28 

2.22%

3) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/21 

2.06%

4) U.S. Treasury Bonds  6.25%, 5/15/30 

0.95%

5) U.S. Treasury Bonds  5.25%, 2/15/29 

0.79%

6) Indonesia Treasury Bond Series FR78 8.25%, 5/15/29 

0.73%

7) Ukraine Government International Bond  7.75%, 9/01/21 - 9/01/24 

0.62%

8) Dominican Republic International Bond  8.625%, 4/20/27 

0.61%

9) U.S. Treasury Bonds  8.125%, 5/15/21 

0.60%

10) Colombian TES Series B 10.00%, 7/24/24 

0.57%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Credit Default Swaps

31.76%

SUBTOTAL

31.76%

Industrial

Communications - Media

3.54%

Basic

3.28%

Consumer Non-Cyclical

3.20%

Energy

3.00%

Consumer Cyclical - Other

2.41%

Communications - Telecommunications

2.33%

Capital Goods

2.20%

Services

1.73%

Consumer Cyclical - Automotive

1.50%

Technology

1.10%

Consumer Cyclical - Retailers

1.08%

Consumer Cyclical - Entertainment

0.63%

Transportation - Services

0.52%

Other Industrial

0.35%

Consumer Cyclical - Restaurants

0.33%

SUBTOTAL

27.20%

Financial Institutions

Banking

2.08%

Finance

0.97%

Insurance

0.95%

REITS

0.66%

Other Finance

0.57%

Brokerage

0.28%

SUBTOTAL

5.51%

Utility

Electric

0.84%

SUBTOTAL

0.84%

SUBTOTAL

65.31%

Corporates - Investment Grade

Financial Institutions

Banking

5.07%

Insurance

2.06%

REITS

0.54%

Brokerage

0.09%

Finance

0.06%

SUBTOTAL

7.82%

Industrial

Basic

1.11%

Energy

1.09%

Consumer Cyclical - Other

1.03%

Consumer Cyclical - Automotive

0.83%

Technology

0.76%

Communications - Media

0.58%

Consumer Cyclical - Entertainment

0.49%

Consumer Non-Cyclical

0.46%

Services

0.33%

Communications - Telecommunications

0.31%

Transportation - Airlines

0.25%

Capital Goods

0.20%

Other Industrial

0.19%

Consumer Cyclical - Retailers

0.10%

Transportation - Services

0.06%

SUBTOTAL

7.79%

Utility

Electric

0.16%

SUBTOTAL

0.16%

Credit Default Swaps

0.07%

SUBTOTAL

0.07%

SUBTOTAL

15.84%

Global Governments

11.69%

Collateralized Mortgage Obligations

Risk Share Floating Rate

7.94%

Non-Agency Fixed Rate

0.76%

Non-Agency Floating Rate

0.64%

Agency Fixed Rate

0.63%

SUBTOTAL

9.97%

Emerging Markets - Sovereigns

Credit Default Swaps

0.75%

Commercial Mortgage-Backed Securities

Credit Default Swaps

5.06%

Non-Agency Fixed Rate CMBS

1.58%

Non-Agency Floating Rate CMBS

0.09%

SUBTOTAL

6.73%

Bank Loans

Industrial

Consumer Non-Cyclical

1.27%

Technology

0.88%

Consumer Cyclical - Other

0.55%

Capital Goods

0.55%

Services

0.50%

Energy

0.34%

Consumer Cyclical - Retailers

0.28%

Consumer Cyclical - Entertainment

0.15%

Communications - Media

0.15%

Consumer Cyclical - Restaurants

0.12%

Other Industrial

0.12%

Communications - Telecommunications

0.11%

Consumer Cyclical - Automotive

0.08%

Basic

0.04%

Transportation - Airlines

0.02%

SUBTOTAL

5.16%

Financial Institutions

Insurance

0.14%

Finance

0.13%

SUBTOTAL

0.27%

Utility

Electric

0.21%

SUBTOTAL

0.21%

SUBTOTAL

5.64%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.56%

Basic

0.53%

Energy

0.31%

Communications - Telecommunications

0.30%

Consumer Cyclical - Other

0.29%

Transportation - Services

0.05%

Communications - Media

0.05%

Capital Goods

0.02%

SUBTOTAL

2.11%

Utility

Electric

0.42%

SUBTOTAL

0.42%

Financial Institutions

Banking

0.05%

Other Finance

0.02%

Insurance

0.01%

SUBTOTAL

0.08%

SUBTOTAL

2.61%

Emerging Markets - Treasuries

2.08%

Total Return Swaps

1.31%

Collateralized Loan Obligations

CLO - Floating Rate

1.30%

SUBTOTAL

1.30%

Asset-Backed Securities

Other ABS - Fixed Rate

0.56%

Home Equity Loans - Fixed Rate

0.33%

Autos - Fixed Rate

0.27%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.17%

Quasi-Sovereigns

Quasi-Sovereign Bonds

1.06%

SUBTOTAL

1.06%

Common Stocks

0.97%

Investment Companies

Funds and Investment Trusts

0.52%

SUBTOTAL

0.52%

Local Governments - US Municipal Bonds

0.39%

Preferred Stocks

Financial Institutions

0.32%

Utility

0.03%

SUBTOTAL

0.35%

Currency Instruments

Forward Currency Exchange Contracts

0.32%

SUBTOTAL

0.32%

Inflation-Linked Securities

0.26%

Local Governments - Regional Bonds

0.02%

Warrants

0.01%

Whole Loan Trusts

Performing Asset

0.01%

SUBTOTAL

0.01%

Reverse Repurchase Agreements

-0.24%

Interest Rate Futures

-1.69%

Net Cash Equivalents

Cash

5.89%

Investment Companies

0.94%

Governments - Treasuries

0.29%

Foreign Currency

-0.02%

SUBTOTAL

7.10%

Derivative Offsets

Futures Offsets

1.75%

Swaps Offsets

-44.34%

SUBTOTAL

-42.59%

Total

100.00%

Country Breakdown

Portfolio %

United States

66.76%

Brazil

4.08%

United Kingdom

2.42%

Canada

1.82%

Mexico

1.42%

France

1.42%

Netherlands

1.34%

Egypt

1.18%

Luxembourg

1.09%

Cayman Islands

1.03%

Dominican Republic

0.93%

Italy

0.90%

Colombia

0.89%

Switzerland

0.84%

Indonesia

0.81%

Russia

0.80%

Spain

0.77%

Argentina

0.76%

Ukraine

0.70%

Nigeria

0.52%

Ireland

0.51%

Bahrain

0.49%

Kenya

0.49%

Ivory Coast

0.48%

Oman

0.46%

South Africa

0.43%

United Arab Emirates

0.42%

Finland

0.39%

Angola

0.35%

Zambia

0.32%

Bermuda

0.31%

Mongolia

0.29%

Costa Rica

0.29%

Sri Lanka

0.29%

Denmark

0.28%

Honduras

0.28%

Gabon

0.28%

El Salvador

0.28%

Senegal

0.26%

Ghana

0.26%

Sweden

0.23%

Turkey

0.19%

Germany

0.19%

Hong Kong

0.19%

Norway

0.18%

Ecuador

0.18%

Jamaica

0.16%

Chile

0.12%

Australia

0.11%

Israel

0.11%

Peru

0.11%

Macau

0.11%

Venezuela

0.08%

Kazakhstan

0.07%

Jordan

0.06%

Guatemala

0.06%

China

0.05%

Iraq

0.05%

Lebanon

0.04%

Cameroon

0.04%

Pakistan

0.02%

India

0.01%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

98.20%

Japanese Yen

0.80%

Egypt Pound

0.63%

Indian Rupee

0.33%

Russian Rubles

0.18%

Brazilian Real

0.15%

Nigerian Naira

0.10%

Argentine Peso

0.06%

Mexican Peso

0.04%

Colombian Peso

0.01%

Malaysian Ringgit

0.01%

New Zealand Dollar

0.01%

Taiwan New Dollar

0.01%

Australian Dollar

-0.01%

Swiss Franc

-0.01%

Polish Zloty

-0.01%

Indonesian Rupiah

-0.04%

Canadian Dollar

-0.11%

Euro

-0.35%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

14.49%

AA

1.44%

A

2.47%

BBB

20.10%

BB

25.39%

B

18.26%

CCC

6.44%

CC

1.38%

C

0.12%

D

0.08%

Not Rated

5.46%

Short Term Investments

1.24%

Reverse Repurchase Agreements

-0.24%

N/A

3.37%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

2.52%

1 to 5 years

48.86%

5 to 10 years

36.41%

10 to 20 years

7.33%

20 to 30 years

3.47%

More Than 30 years

0.43%

Other

0.98%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.89%

Average Bond Price:

94.37

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

51.37%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

51.37%

Average Maturity:

6.29  Years

Effective Duration:

4.26  Years

Total Net Assets:

$942.13 Million

Net Asset Value:

$10.93

Number of Holdings:

1656

Portfolio Turnover:

40%