AB Global High Income Fund Releases Monthly Portfolio Update

AB Global High Income Fund

Top 10 Fixed-Income Holdings

Portfolio %

1) U.S. Treasury Notes 2.25%, 02/15/27

1.60%

2) U.S. Treasury Notes 2.875%, 08/15/28

1.09%

3) CCO Holdings 4.50%, 08/15/30 - 06/01/33

0.66%

4) CCO Holdings 4.75%, 02/01/32

0.65%

5) Dominican Repubic Intl Bond 8.625%, 04/20/27

0.60%

6) Altice France SA/France 5.125%, 07/15/29

0.54%

7) Sirius XM Radio, Inc. 4.00%, 07/15/28

0.52%

8) Royal Caribbean Cruises 5.50%, 08/31/26 - 04/01/28

0.50%

9) Altice Financing SA 5.75%, 08/15/29

0.49%

10) Vistra Operations Co. LLC 4.375%, 05/01/29

0.43%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

6.72%

Communications - Media

6.59%

Consumer Non-Cyclical

6.06%

Services

3.39%

Basic

3.20%

Consumer Cyclical - Other

2.80%

Communications - Telecommunications

2.77%

Capital Goods

2.76%

Consumer Cyclical - Automotive

2.76%

Technology

2.74%

Consumer Cyclical - Entertainment

2.55%

Consumer Cyclical - Retailers

2.29%

Transportation - Services

0.77%

Consumer Cyclical - Restaurants

0.76%

Transportation - Airlines

0.34%

Other Industrial

0.16%

SUBTOTAL

46.66%

Credit Default Swaps

20.84%

Financial Institutions

Banking

2.28%

Finance

1.78%

REITs

1.42%

Insurance

0.67%

Other Finance

0.50%

Brokerage

0.48%

SUBTOTAL

7.13%

Utility

Electric

1.17%

Other Utility

0.18%

SUBTOTAL

1.35%

SUBTOTAL

75.98%

Corporates - Investment Grade

Financial Institutions

Banking

2.94%

Insurance

1.48%

Finance

0.66%

REITs

0.25%

Brokerage

0.12%

Other Finance

0.02%

SUBTOTAL

5.47%

Industrial

Energy

0.73%

Basic

0.67%

Communications - Telecommunications

0.67%

Transportation - Airlines

0.44%

Consumer Cyclical - Other

0.41%

Consumer Non-Cyclical

0.34%

Communications - Media

0.32%

Capital Goods

0.22%

Other Industrial

0.18%

Consumer Cyclical - Retailers

0.15%

Consumer Cyclical - Automotive

0.11%

Technology

0.07%

Services

0.05%

SUBTOTAL

4.36%

Utility

Electric

0.06%

SUBTOTAL

0.06%

SUBTOTAL

9.89%

Collateralized Mortgage Obligations

Risk Share Floating Rate

4.64%

Non-Agency Fixed Rate

0.46%

Non-Agency Floating Rate

0.38%

Agency Fixed Rate

0.34%

SUBTOTAL

5.82%

Emerging Markets - Corporate Bonds

Industrial

Basic

1.43%

Energy

0.81%

Consumer Cyclical - Other

0.63%

Capital Goods

0.51%

Consumer Non-Cyclical

0.51%

Communications - Telecommunications

0.29%

Technology

0.19%

Services

0.07%

Transportation - Services

0.07%

Communications - Media

0.04%

SUBTOTAL

4.55%

Utility

Electric

0.59%

SUBTOTAL

0.59%

Financial Institutions

REITs

0.27%

Banking

0.05%

Insurance

0.04%

Finance

0.02%

Other Finance

0.01%

SUBTOTAL

0.39%

SUBTOTAL

5.53%

Commercial Mortgage-Backed Securities

Credit Default Swaps

4.42%

Non-Agency Fixed Rate CMBS

1.09%

Non-Agency Floating Rate CMBS

0.02%

SUBTOTAL

5.53%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

5.22%

Credit Default Swaps

0.25%

SUBTOTAL

5.47%

Bank Loans

Industrial

Technology

0.84%

Consumer Non-Cyclical

0.79%

Communications - Telecommunications

0.74%

Capital Goods

0.54%

Energy

0.43%

Other Industrial

0.30%

Consumer Cyclical - Retailers

0.26%

Communications - Media

0.23%

Consumer Cyclical - Other

0.21%

Services

0.17%

Consumer Cyclical - Restaurants

0.08%

Consumer Cyclical - Automotive

0.04%

SUBTOTAL

4.63%

Financial Institutions

Insurance

0.26%

Finance

0.02%

SUBTOTAL

0.28%

Utility

Electric

0.24%

SUBTOTAL

0.24%

SUBTOTAL

5.15%

Interest Rate Futures

4.38%

Collateralized Loan Obligations

CLO - Floating Rate

3.60%

SUBTOTAL

3.60%

Global Governments

3.39%

Common Stocks

1.91%

Total Return Swaps

1.50%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.97%

SUBTOTAL

0.97%

Preferred Stocks

Industrials

0.39%

Financials

0.10%

SUBTOTAL

0.49%

Local Governments - US Municipal Bonds

0.47%

Inflation-Linked Securities

0.24%

Asset-Backed Securities

Other ABS - Fixed Rate

0.09%

Autos - Fixed Rate

0.07%

SUBTOTAL

0.16%

Forward Currency Exchange Contracts

Currency Instruments

0.15%

SUBTOTAL

0.15%

Warrants

0.07%

Interest Rate Swaps

-0.01%

Reverse Repurchase Agreements

-0.10%

Cash & Cash Equivalents

Cash

1.19%

Funds and Investment Trusts

0.77%

U.S. Treasury Bills

0.09%

SUBTOTAL

2.05%

Derivative Offsets

Futures Offsets

-4.53%

Swap Offsets

-28.11%

SUBTOTAL

-32.64%

TOTAL

100.00%

Country Breakdown

Portfolio %

United States

72.40%

United Kingdom

3.36%

Canada

1.96%

France

1.68%

Luxembourg

1.62%

Brazil

1.51%

Spain

1.25%

Mexico

1.23%

Germany

0.97%

Nigeria

0.78%

Italy

0.70%

Bahrain

0.63%

Switzerland

0.63%

Dominican Republic

0.60%

Colombia

0.57%

Argentina

0.56%

India

0.53%

China

0.51%

Israel

0.48%

Netherlands

0.46%

Cote D'Ivoire

0.45%

Finland

0.42%

Sweden

0.42%

Zambia

0.40%

Ghana

0.37%

Macau

0.35%

Oman

0.35%

Ukraine

0.34%

Peru

0.33%

Angola

0.32%

Jersey (Channel Islands)

0.32%

Egypt

0.31%

Senegal

0.30%

Australia

0.29%

Gabon

0.24%

Indonesia

0.23%

Jamaica

0.23%

Ireland

0.21%

South Africa

0.21%

Hong Kong

0.19%

Ecuador

0.18%

El Salvador

0.16%

Denmark

0.14%

Turkey

0.12%

Japan

0.10%

Czech Republic

0.09%

Mauritius

0.09%

Guatemala

0.08%

Venezuela

0.07%

Chile

0.05%

Bermuda

0.04%

Kuwait

0.04%

Morocco

0.04%

Panama

0.04%

Belgium

0.02%

Cayman Islands

0.02%

Norway

0.01%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

US Dollar

100.26%

Canadian Dollar

0.11%

Pound Sterling

0.02%

Argentine Peso

0.01%

Brazilian Real

0.01%

Mexican Peso

0.01%

Norwegian Krone

0.01%

Singapore Dollar

0.01%

Australian Dollar

-0.01%

Chilean Peso

-0.01%

Chinese Yuan Renminbi (Offshore)

-0.01%

New Zealand Dollar

-0.01%

Polish Zloty

-0.01%

Colombian Peso

-0.11%

Euro

-0.28%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

4.35%

AA

0.12%

A

1.25%

BBB

12.40%

BB

38.30%

B

26.29%

CCC

8.48%

CC

0.16%

C

0.12%

D

0.10%

Not Rated

4.35%

Short Term Investments

0.86%

Reverse Repurchase Agreements

-0.10%

N/A

3.32%

Total

100.00%

Bonds by Maturity

Portfolio %

Less than 1 Year

6.42%

1 To 5 Years

41.76%

5 To 10 Years

40.98%

10 To 20 Years

5.28%

20 To 30 Years

2.34%

More than 30 Years

1.24%

Other

1.98%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

6.96%

Average Bond Price:

96.68

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

27.58%

Preferred Stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

27.58%

Average Maturity:

    6.11 Years

Effective Duration:

    4.28 Years

Total Net Assets:

$1,036.96 Million

Net Asset Value:

$12.03

Total Number of Holdings:

1,656

Portfolio Turnover:

51.00%

* 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.