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 

2.61%

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

2.32%

3) U.S. Treasury Notes  0.875%, 4/15/19 

1.80%

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

1.62%

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

0.70%

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

0.60%

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

0.59%

8) Wachovia Mortgage Loan Trust Series 2006-ALT1, Class A2 2.69%, 1/25/37 

0.56%

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

0.53%

10) Turkey Government Bond  11.10%, 5/15/19 

0.53%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

6.12%

Communications - Media

4.04%

Consumer Non-Cyclical

3.11%

Basic

3.03%

Communications - Telecommunications

2.63%

Consumer Cyclical - Other

2.27%

Services

1.61%

Consumer Cyclical - Automotive

1.45%

Capital Goods

1.44%

Technology

1.42%

Transportation - Services

0.85%

Other Industrial

0.54%

Consumer Cyclical - Retailers

0.51%

Consumer Cyclical - Entertainment

0.35%

Consumer Cyclical - Restaurants

0.18%

SUBTOTAL

29.55%

Credit Default Swaps

14.08%

SUBTOTAL

14.08%

Financial Institutions

Banking

4.28%

Finance

1.28%

Insurance

0.81%

Other Finance

0.50%

REITS

0.30%

Brokerage

0.14%

SUBTOTAL

7.31%

Utility

Electric

0.87%

Natural Gas

0.17%

SUBTOTAL

1.04%

SUBTOTAL

51.98%

Collateralized Mortgage Obligations

Risk Share Floating Rate

9.38%

Non-Agency Fixed Rate

0.90%

Non-Agency Floating Rate

0.89%

SUBTOTAL

11.17%

Global Governments

9.83%

Interest Rate Futures

8.86%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

6.45%

Credit Default Swaps

1.57%

Commercial Mortgage-Backed Securities

Credit Default Swaps

5.43%

Non-Agency Fixed Rate CMBS

1.87%

Non-Agency Floating Rate CMBS

0.16%

SUBTOTAL

7.46%

Corporates - Investment Grade

Financial Institutions

Banking

1.82%

Insurance

1.72%

REITS

0.30%

SUBTOTAL

3.84%

Industrial

Technology

0.50%

Basic

0.48%

Consumer Non-Cyclical

0.37%

Energy

0.33%

Communications - Telecommunications

0.24%

Capital Goods

0.24%

Other Industrial

0.14%

Communications - Media

0.14%

Consumer Cyclical - Other

0.08%

Consumer Cyclical - Automotive

0.08%

Services

0.06%

Transportation - Airlines

0.01%

SUBTOTAL

2.67%

Utility

Electric

0.02%

SUBTOTAL

0.02%

SUBTOTAL

6.53%

Total Return Swaps

4.88%

Emerging Markets - Corporate Bonds

Industrial

Consumer Non-Cyclical

0.87%

Basic

0.79%

Energy

0.78%

Communications - Telecommunications

0.43%

Consumer Cyclical - Other

0.20%

Transportation - Services

0.16%

Capital Goods

0.14%

Consumer Cyclical - Retailers

0.05%

Transportation - Airlines

0.03%

SUBTOTAL

3.45%

Financial Institutions

Banking

0.40%

REITS

0.23%

Finance

0.05%

Insurance

0.01%

SUBTOTAL

0.69%

Utility

Electric

0.25%

SUBTOTAL

0.25%

SUBTOTAL

4.39%

Emerging Markets - Treasuries

4.19%

Bank Loans

Industrial

Consumer Non-Cyclical

1.05%

Capital Goods

0.47%

Services

0.45%

Energy

0.39%

Technology

0.36%

Consumer Cyclical - Retailers

0.24%

Consumer Cyclical - Other

0.23%

Other Industrial

0.18%

Communications - Telecommunications

0.11%

Consumer Cyclical - Entertainment

0.09%

Basic

0.04%

Consumer Cyclical - Automotive

0.03%

Consumer Cyclical - Restaurants

0.02%

SUBTOTAL

3.66%

SUBTOTAL

3.66%

Investment Companies

Funds and Investment Trusts

2.19%

SUBTOTAL

2.19%

Common Stocks

1.84%

Asset-Backed Securities

Other ABS - Fixed Rate

0.83%

Home Equity Loans - Fixed Rate

0.34%

Autos - Fixed Rate

0.10%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.28%

Local Governments - US Municipal Bonds

0.47%

Preferred Stocks

Financial Institutions

0.28%

Utility

0.02%

SUBTOTAL

0.30%

Inflation-Linked Securities

0.28%

Local Governments - Regional Bonds

0.27%

Interest Rate Swaps

0.23%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.22%

SUBTOTAL

0.22%

Collateralized Loan Obligations

CLO - Floating Rate

0.09%

SUBTOTAL

0.09%

Whole Loan Trusts

Performing Asset

0.03%

SUBTOTAL

0.03%

Options Purchased - Puts

Options on Forward Contracts

0.01%

SUBTOTAL

0.01%

Put Options Written

-0.01%

Call Options Written

-0.05%

Currency Instruments

Forward Currency Exchange Contracts

-0.35%

SUBTOTAL

-0.35%

Reverse Repurchase Agreements

-0.79%

Equity Futures

Equity Index Futures

-1.64%

SUBTOTAL

-1.64%

Net Cash Equivalents

Investment Companies

6.06%

Cash

2.09%

Foreign Currency

0.01%

SUBTOTAL

8.16%

Derivative Offsets

Futures Offsets

-7.09%

Swaps Offsets

-26.41%

SUBTOTAL

-33.50%

Total

100.00%

Country Breakdown

Portfolio %

United States

68.82%

Brazil

4.34%

United Kingdom

2.22%

France

1.66%

Luxembourg

1.48%

Canada

1.45%

Netherlands

1.40%

Dominican Republic

1.14%

Turkey

1.09%

Argentina

1.09%

Italy

1.06%

Spain

1.01%

Switzerland

0.86%

Colombia

0.68%

Ireland

0.68%

Mexico

0.54%

Ukraine

0.49%

India

0.48%

Nigeria

0.44%

Russia

0.43%

Ivory Coast

0.42%

Zambia

0.41%

South Africa

0.37%

Jamaica

0.35%

Indonesia

0.35%

Bahrain

0.34%

Angola

0.34%

United Arab Emirates

0.32%

Cayman Islands

0.31%

Ecuador

0.28%

Egypt

0.27%

Gabon

0.27%

Lebanon

0.25%

Denmark

0.25%

Venezuela

0.25%

Senegal

0.24%

Honduras

0.23%

China

0.23%

Mongolia

0.23%

Germany

0.23%

Malaysia

0.21%

Norway

0.21%

Israel

0.20%

Sweden

0.18%

Kenya

0.18%

Guatemala

0.18%

Macau

0.15%

El Salvador

0.13%

Costa Rica

0.13%

Cameroon

0.12%

Uruguay

0.11%

Kazakhstan

0.10%

Oman

0.09%

Sri Lanka

0.09%

Trinidad & Tobago

0.09%

Peru

0.09%

Ghana

0.08%

Australia

0.06%

Iraq

0.06%

Jordan

0.06%

Finland

0.05%

Virgin Islands (BVI)

0.05%

Belgium

0.03%

Chile

0.03%

Jersey (Channel Islands)

0.02%

Total Investments

100.00%

Net CurA261:C286rency Exposure
Breakdown

United States Dollar

95.93%

South Korean Won

1.98%

New Turkish Lira

1.50%

Australian Dollar

1.41%

Polish Zloty

0.99%

Brazilian Real

0.91%

Norwegian Krone

0.87%

Argentine Peso

0.69%

Great British Pound

0.51%

Mexican Peso

0.49%

Dominican Peso

0.27%

Swedish Krona

0.26%

Malaysian Ringgit

0.21%

Uruguayan Peso

0.11%

Indian Rupee

0.04%

Russian Rubles

0.01%

Colombian Peso

-0.01%

Chinese Yuan Renminbi (Offshore)

-0.18%

Swiss Franc

-0.78%

Japanese Yen

-0.81%

Canadian Dollar

-1.00%

Israeli New Shekel

-1.00%

New Zealand Dollar

-1.01%

Euro

-1.39%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

8.81%

AA

0.98%

A

2.61%

BBB

13.98%

BB

27.17%

B

24.33%

CCC

4.70%

CC

0.32%

C

0.37%

D

0.10%

Not Rated

5.91%

Short Term Investments

6.06%

Reverse Repurchase Agreements

-0.79%

N/A

5.45%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

16.57%

1 to 5 years

39.81%

5 to 10 years

33.14%

10 to 20 years

5.89%

20 to 30 years

2.32%

More Than 30 years

0.43%

Other

1.84%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.18%

Average Bond Price:

99.85

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

40.51%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

40.51%

Average Maturity:

N/A

Effective Duration:

3.83  Years

Total Net Assets:

$1,109.82 Million

Net Asset Value:

$12.87

Number of Holdings:

1259

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.