AB Global High Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

Portfolio %

1) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/21 - 1/01/23 

3.48%

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

2.31%

3) Indonesia Treasury Bond Series FR77 8.125%, 5/15/24 

1.70%

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

1.62%

5) Republic of South Africa Government Bond Series R186 10.50%, 12/21/26 

1.45%

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

0.70%

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

0.59%

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

0.59%

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

0.59%

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

0.53%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

5.09%

Communications - Media

3.38%

Communications - Telecommunications

2.99%

Consumer Non-Cyclical

2.88%

Basic

2.81%

Consumer Cyclical - Other

1.82%

Consumer Cyclical - Automotive

1.78%

Capital Goods

1.61%

Services

1.52%

Technology

1.31%

Consumer Cyclical - Retailers

0.76%

Transportation - Services

0.69%

Other Industrial

0.55%

Consumer Cyclical - Entertainment

0.23%

Consumer Cyclical - Restaurants

0.18%

SUBTOTAL

27.60%

Credit Default Swaps

13.37%

SUBTOTAL

13.37%

Financial Institutions

Banking

3.40%

Finance

1.24%

Insurance

0.61%

Other Finance

0.53%

REITS

0.52%

Brokerage

0.14%

SUBTOTAL

6.44%

Utility

Electric

0.86%

Natural Gas

0.17%

SUBTOTAL

1.03%

SUBTOTAL

48.44%

Collateralized Mortgage Obligations

Risk Share Floating Rate

9.14%

Agency Fixed Rate

0.89%

Non-Agency Fixed Rate

0.87%

Non-Agency Floating Rate

0.84%

SUBTOTAL

11.74%

Global Governments

10.04%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

8.42%

Credit Default Swaps

1.27%

SUBTOTAL

9.69%

Corporates - Investment Grade

Financial Institutions

Banking

3.00%

Insurance

1.87%

REITS

0.36%

SUBTOTAL

5.23%

Industrial

Consumer Cyclical - Other

0.69%

Energy

0.66%

Technology

0.64%

Basic

0.46%

Consumer Non-Cyclical

0.41%

Communications - Telecommunications

0.36%

Capital Goods

0.31%

Consumer Cyclical - Automotive

0.18%

Other Industrial

0.15%

Communications - Media

0.14%

Consumer Cyclical - Entertainment

0.13%

Services

0.06%

Transportation - Airlines

0.01%

SUBTOTAL

4.20%

SUBTOTAL

9.43%

Interest Rate Futures

8.11%

Commercial Mortgage-Backed Securities

Credit Default Swaps

6.00%

Non-Agency Fixed Rate CMBS

1.86%

Non-Agency Floating Rate CMBS

0.19%

SUBTOTAL

8.05%

Emerging Markets - Treasuries

6.01%

Total Return Swaps

5.62%

Emerging Markets - Corporate Bonds

Industrial

Basic

0.79%

Consumer Non-Cyclical

0.71%

Energy

0.51%

Communications - Telecommunications

0.43%

Consumer Cyclical - Other

0.20%

Transportation - Services

0.16%

Capital Goods

0.12%

Other Industrial

0.09%

Consumer Cyclical - Retailers

0.05%

Transportation - Airlines

0.02%

SUBTOTAL

3.08%

Financial Institutions

Banking

0.44%

REITS

0.23%

Finance

0.05%

Insurance

0.01%

SUBTOTAL

0.73%

Utility

Electric

0.24%

SUBTOTAL

0.24%

SUBTOTAL

4.05%

Bank Loans

Industrial

Consumer Non-Cyclical

1.22%

Capital Goods

0.47%

Services

0.44%

Technology

0.41%

Energy

0.39%

Consumer Cyclical - Other

0.23%

Consumer Cyclical - Retailers

0.19%

Other Industrial

0.18%

Communications - Telecommunications

0.11%

Consumer Cyclical - Entertainment

0.09%

Consumer Cyclical - Automotive

0.08%

Basic

0.04%

Consumer Cyclical - Restaurants

0.02%

SUBTOTAL

3.87%

Financial Institutions

Finance

0.08%

SUBTOTAL

0.08%

SUBTOTAL

3.95%

Common Stocks

1.84%

Asset-Backed Securities

Other ABS - Fixed Rate

0.75%

Home Equity Loans - Fixed Rate

0.33%

Autos - Fixed Rate

0.19%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.28%

Investment Companies

Funds and Investment Trusts

0.48%

SUBTOTAL

0.48%

Local Governments - US Municipal Bonds

0.47%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.32%

SUBTOTAL

0.32%

Preferred Stocks

Financial Institutions

0.29%

Utility

0.02%

SUBTOTAL

0.31%

Inflation-Linked Securities

0.27%

Local Governments - Regional Bonds

0.20%

Collateralized Loan Obligations

CLO - Floating Rate

0.09%

SUBTOTAL

0.09%

Warrants

0.03%

Whole Loan Trusts

Performing Asset

0.03%

SUBTOTAL

0.03%

Options Purchased - Puts

Options on Forward Contracts

0.01%

SUBTOTAL

0.01%

Currency Instruments

Forward Currency Exchange Contracts

-0.01%

SUBTOTAL

-0.01%

Interest Rate Swaps

-0.01%

Swaptions

-0.01%

Put Options Written

-0.02%

Reverse Repurchase Agreements

-0.86%

Net Cash Equivalents

Investment Companies

3.74%

Cash

0.62%

Commercial Paper

0.47%

SUBTOTAL

4.83%

Derivative Offsets

Futures Offsets

-8.06%

Swaps Offsets

-26.32%

SUBTOTAL

-34.38%

Total

100.00%

Country Breakdown

Portfolio %

United States

63.04%

Brazil

5.10%

Indonesia

2.55%

United Kingdom

2.03%

France

1.69%

Luxembourg

1.65%

South Africa

1.59%

Canada

1.35%

Netherlands

1.32%

Turkey

1.10%

Egypt

1.03%

Colombia

1.01%

Spain

0.99%

Italy

0.98%

Dominican Republic

0.86%

Switzerland

0.85%

Argentina

0.73%

Ireland

0.72%

Russia

0.71%

India

0.54%

Ukraine

0.53%

Mexico

0.50%

Nigeria

0.44%

Kenya

0.44%

Ivory Coast

0.42%

Sri Lanka

0.41%

Oman

0.41%

Zambia

0.38%

Bahrain

0.35%

Finland

0.33%

Jamaica

0.33%

Angola

0.33%

Germany

0.32%

United Arab Emirates

0.31%

Mongolia

0.29%

Ecuador

0.29%

China

0.28%

Sweden

0.27%

Gabon

0.26%

Honduras

0.26%

Bermuda

0.25%

Denmark

0.24%

Senegal

0.24%

Lebanon

0.22%

Venezuela

0.22%

Cayman Islands

0.22%

Norway

0.20%

Malaysia

0.20%

Macau

0.16%

Togo

0.14%

El Salvador

0.13%

Cameroon

0.12%

Uruguay

0.10%

Peru

0.09%

Ghana

0.09%

Virgin Islands (BVI)

0.08%

Costa Rica

0.08%

Kazakhstan

0.06%

Iraq

0.06%

Jordan

0.05%

Jersey (Channel Islands)

0.02%

Chile

0.02%

Australia

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

102.03%

Mexican Peso

1.25%

South African Rand

0.96%

Chinese Yuan Renminbi (Offshore)

0.79%

Indian Rupee

0.50%

Egypt Pound

0.47%

Argentine Peso

0.31%

Malaysian Ringgit

0.21%

Uruguayan Peso

0.10%

Russian Rubles

0.02%

Great British Pound

0.01%

Colombian Peso

-0.03%

Brazilian Real

-0.08%

Australian Dollar

-0.49%

Canadian Dollar

-0.91%

Israeli New Shekel

-0.99%

Swiss Franc

-1.29%

Euro

-1.36%

Taiwan New Dollar

-1.50%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

7.01%

AA

0.94%

A

2.45%

BBB

18.38%

BB

27.74%

B

25.05%

CCC

5.18%

CC

0.33%

C

0.32%

D

0.16%

Not Rated

5.80%

Short Term Investments

4.21%

Reverse Repurchase Agreements

-0.86%

N/A

3.29%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

-16.64%

1 to 5 years

51.24%

5 to 10 years

54.69%

10 to 20 years

6.19%

20 to 30 years

2.23%

More Than 30 years

0.42%

Other

1.87%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.53%

Average Bond Price:

101.53

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

41.27%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

41.27%

Average Maturity:

5.57  Years

Effective Duration:

4.10  Years

Total Net Assets:

$1,127.74 Million

Net Asset Value:

$13.08

Number of Holdings:

1229

Portfolio Turnover:

34%

* Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities.

The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.