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 

2.53%

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

2.09%

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

1.79%

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

0.77%

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

0.67%

6) Argentine Republic Government International Bond  6.875%, 1/26/27 - 1/11/48 

0.66%

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

0.64%

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

0.61%

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

0.59%

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

0.55%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Credit Default Swaps

28.84%

SUBTOTAL

28.84%

Industrial

Communications - Media

3.22%

Consumer Non-Cyclical

2.77%

Basic

2.71%

Energy

2.58%

Communications - Telecommunications

2.53%

Consumer Cyclical - Other

2.18%

Capital Goods

2.05%

Services

1.65%

Consumer Cyclical - Automotive

1.56%

Consumer Cyclical - Retailers

1.03%

Technology

1.00%

Transportation - Services

0.55%

Other Industrial

0.31%

Consumer Cyclical - Entertainment

0.29%

Consumer Cyclical - Restaurants

0.22%

SUBTOTAL

24.65%

Financial Institutions

Banking

3.18%

Finance

0.92%

Insurance

0.71%

REITS

0.52%

Other Finance

0.32%

Brokerage

0.24%

SUBTOTAL

5.89%

Utility

Electric

0.70%

SUBTOTAL

0.70%

SUBTOTAL

60.08%

Global Governments

10.65%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

9.53%

Credit Default Swaps

0.77%

SUBTOTAL

10.30%

Corporates - Investment Grade

Financial Institutions

Banking

3.15%

Insurance

2.01%

REITS

0.59%

SUBTOTAL

5.75%

Industrial

Consumer Cyclical - Other

0.90%

Basic

0.78%

Technology

0.54%

Energy

0.49%

Consumer Non-Cyclical

0.28%

Communications - Telecommunications

0.26%

Capital Goods

0.20%

Consumer Cyclical - Automotive

0.19%

Other Industrial

0.15%

Consumer Cyclical - Entertainment

0.13%

Communications - Media

0.12%

Services

0.08%

SUBTOTAL

4.12%

Utility

Electric

0.07%

SUBTOTAL

0.07%

SUBTOTAL

9.94%

Collateralized Mortgage Obligations

Risk Share Floating Rate

7.06%

Non-Agency Fixed Rate

0.72%

Non-Agency Floating Rate

0.62%

Agency Fixed Rate

0.59%

SUBTOTAL

8.99%

Commercial Mortgage-Backed Securities

Credit Default Swaps

6.31%

Non-Agency Fixed Rate CMBS

1.78%

Non-Agency Floating Rate CMBS

0.10%

SUBTOTAL

8.19%

Interest Rate Futures

5.93%

Bank Loans

Industrial

Consumer Non-Cyclical

1.14%

Technology

0.79%

Capital Goods

0.59%

Services

0.50%

Consumer Cyclical - Other

0.49%

Energy

0.49%

Consumer Cyclical - Retailers

0.26%

Consumer Cyclical - Entertainment

0.14%

Communications - Media

0.14%

Other Industrial

0.13%

Consumer Cyclical - Restaurants

0.11%

Communications - Telecommunications

0.09%

Consumer Cyclical - Automotive

0.07%

Basic

0.04%

SUBTOTAL

4.98%

Financial Institutions

Finance

0.12%

Insurance

0.12%

SUBTOTAL

0.24%

Utility

Electric

0.18%

SUBTOTAL

0.18%

SUBTOTAL

5.40%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.55%

Basic

0.48%

Communications - Telecommunications

0.34%

Energy

0.32%

Consumer Cyclical - Other

0.25%

Other Industrial

0.09%

Transportation - Services

0.04%

Communications - Media

0.04%

Capital Goods

0.02%

Transportation - Airlines

0.01%

SUBTOTAL

2.14%

Utility

Electric

0.40%

SUBTOTAL

0.40%

Financial Institutions

Banking

0.05%

Insurance

0.01%

SUBTOTAL

0.06%

SUBTOTAL

2.60%

Emerging Markets - Treasuries

2.11%

Asset-Backed Securities

Other ABS - Fixed Rate

0.75%

Home Equity Loans - Fixed Rate

0.31%

Autos - Fixed Rate

0.26%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.33%

Common Stocks

1.19%

Collateralized Loan Obligations

CLO - Floating Rate

1.07%

SUBTOTAL

1.07%

Total Return Swaps

0.87%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.62%

SUBTOTAL

0.62%

Local Governments - US Municipal Bonds

0.55%

Investment Companies

Funds and Investment Trusts

0.50%

SUBTOTAL

0.50%

Currency Instruments

Forward Currency Exchange Contracts

0.42%

SUBTOTAL

0.42%

Preferred Stocks

Financial Institutions

0.28%

Utility

0.02%

SUBTOTAL

0.30%

Inflation-Linked Securities

0.26%

Local Governments - Regional Bonds

0.02%

Warrants

0.02%

Whole Loan Trusts

Performing Asset

0.01%

SUBTOTAL

0.01%

Reverse Repurchase Agreements

-0.36%

Net Cash Equivalents

Investment Companies

10.38%

Cash

1.44%

Governments - Treasuries

0.88%

Foreign Currency

-0.02%

SUBTOTAL

12.68%

Derivative Offsets

Futures Offsets

-5.77%

Swaps Offsets

-37.90%

SUBTOTAL

-43.67%

Total

100.00%

Country Breakdown

Portfolio %

United States

67.48%

Brazil

3.76%

United Kingdom

2.22%

Canada

1.76%

Indonesia

1.34%

France

1.25%

Netherlands

1.23%

Egypt

1.12%

Argentina

1.05%

Cayman Islands

1.03%

Luxembourg

0.99%

Dominican Republic

0.92%

Colombia

0.91%

Italy

0.90%

Spain

0.83%

Nigeria

0.82%

Switzerland

0.74%

Russia

0.74%

Mexico

0.70%

Turkey

0.67%

Ukraine

0.63%

Ivory Coast

0.50%

Bahrain

0.49%

Kenya

0.48%

Ireland

0.46%

Oman

0.45%

Sri Lanka

0.40%

Angola

0.39%

Finland

0.36%

Gabon

0.34%

Zambia

0.32%

Costa Rica

0.31%

United Arab Emirates

0.30%

Mongolia

0.29%

Honduras

0.28%

Ghana

0.27%

Ecuador

0.27%

Senegal

0.26%

Bermuda

0.26%

Sweden

0.22%

Denmark

0.19%

Jamaica

0.18%

Norway

0.17%

Hong Kong

0.16%

Germany

0.16%

El Salvador

0.15%

Cameroon

0.12%

South Africa

0.12%

Chile

0.12%

Venezuela

0.11%

Israel

0.10%

Australia

0.10%

Macau

0.09%

Peru

0.09%

Trinidad & Tobago

0.08%

Kazakhstan

0.07%

Jordan

0.06%

Lebanon

0.06%

Iraq

0.06%

India

0.05%

Pakistan

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

98.91%

Japanese Yen

0.83%

Egypt Pound

0.53%

Indian Rupee

0.29%

Nigerian Naira

0.26%

Russian Rubles

0.17%

Brazilian Real

0.14%

Pakistan Rupee

0.09%

Argentine Peso

0.05%

Colombian Peso

0.04%

Mexican Peso

0.03%

South African Rand

0.03%

Great British Pound

0.02%

Chinese Yuan Renminbi (Offshore)

0.01%

Malaysian Ringgit

0.01%

New Zealand Dollar

0.01%

Swedish Krona

0.01%

Polish Zloty

-0.01%

Norwegian Krone

-0.03%

Indonesian Rupiah

-0.69%

Euro

-0.70%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

7.26%

AA

1.65%

A

1.89%

BBB

16.67%

BB

23.75%

B

20.95%

CCC

6.72%

CC

0.34%

C

0.14%

D

0.06%

Not Rated

4.62%

Short Term Investments

11.26%

Reverse Repurchase Agreements

-0.36%

N/A

5.05%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

12.78%

1 to 5 years

47.54%

5 to 10 years

29.75%

10 to 20 years

6.15%

20 to 30 years

2.13%

More Than 30 years

0.44%

Other

1.21%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.57%

Average Bond Price:

103.69

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

45.44%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

45.44%

Average Maturity:

5.35  Years

Effective Duration:

3.80  Years

Total Net Assets:

$1,127.25 Million

Net Asset Value:

$13.07

Number of Holdings:

1574

Portfolio Turnover:

40%