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 

2.31%

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

1.83%

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

1.45%

4) Argentine Republic Government International Bond  0.125%, 7/09/30 - 7/09/41 

0.87%

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

0.65%

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

0.58%

7) Nigeria Government International Bond  7.625%, 11/21/25 - 11/28/47 

0.53%

8) Ukraine Government International Bond  7.75%, 9/01/22 - 9/01/24 

0.50%

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

0.40%

10) First Quantum Minerals Ltd.  7.25%, 4/01/23 

0.39%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

4.77%

Communications - Media

3.59%

Consumer Non-Cyclical

3.54%

Basic

2.64%

Consumer Cyclical - Automotive

2.62%

Capital Goods

2.50%

Consumer Cyclical - Other

2.48%

Services

2.30%

Technology

2.17%

Communications - Telecommunications

2.01%

Consumer Cyclical - Retailers

1.79%

Consumer Cyclical - Entertainment

1.75%

Transportation - Services

0.47%

Other Industrial

0.33%

Consumer Cyclical - Restaurants

0.29%

Transportation - Airlines

0.19%

SUBTOTAL

33.44%

Credit Default Swaps

26.60%

SUBTOTAL

26.60%

Financial Institutions

Banking

2.30%

Finance

0.97%

Insurance

0.90%

REITS

0.86%

Brokerage

0.47%

Other Finance

0.44%

SUBTOTAL

5.94%

Utility

Electric

0.60%

SUBTOTAL

0.60%

SUBTOTAL

66.58%

Corporates - Investment Grade

Financial Institutions

Banking

4.65%

Insurance

1.90%

Finance

0.74%

REITS

0.42%

Other Finance

0.02%

SUBTOTAL

7.73%

Industrial

Energy

0.96%

Consumer Cyclical - Other

0.91%

Basic

0.83%

Transportation - Airlines

0.56%

Consumer Cyclical - Automotive

0.40%

Consumer Non-Cyclical

0.39%

Technology

0.28%

Capital Goods

0.19%

Other Industrial

0.19%

Services

0.12%

Communications - Media

0.07%

Consumer Cyclical - Retailers

0.05%

SUBTOTAL

4.95%

SUBTOTAL

12.68%

Emerging Markets - Sovereigns

Emerging Markets - Sovereigns

10.91%

Credit Default Swaps

0.46%

SUBTOTAL

11.37%

Collateralized Mortgage Obligations

Risk Share Floating Rate

7.87%

Non-Agency Fixed Rate

0.59%

Non-Agency Floating Rate

0.49%

Agency Fixed Rate

0.45%

SUBTOTAL

9.40%

Global Governments

6.51%

Commercial Mortgage-Backed Securities

Credit Default Swaps

4.82%

Non-Agency Fixed Rate CMBS

1.20%

Non-Agency Floating Rate CMBS

0.09%

SUBTOTAL

6.11%

Interest Rate Futures

5.29%

Bank Loans

Industrial

Consumer Non-Cyclical

1.10%

Technology

0.73%

Services

0.57%

Capital Goods

0.53%

Consumer Cyclical - Other

0.47%

Communications - Media

0.31%

Communications - Telecommunications

0.29%

Other Industrial

0.25%

Consumer Cyclical - Retailers

0.16%

Consumer Cyclical - Restaurants

0.11%

Consumer Cyclical - Entertainment

0.08%

Consumer Cyclical - Automotive

0.07%

Basic

0.05%

Energy

0.05%

Transportation - Airlines

0.02%

SUBTOTAL

4.79%

Utility

Electric

0.18%

SUBTOTAL

0.18%

Financial Institutions

Insurance

0.12%

SUBTOTAL

0.12%

SUBTOTAL

5.09%

Emerging Markets - Corporate Bonds

Industrial

Basic

1.67%

Energy

0.79%

Consumer Cyclical - Other

0.54%

Consumer Non-Cyclical

0.43%

Capital Goods

0.24%

Communications - Telecommunications

0.23%

Communications - Media

0.08%

Transportation - Services

0.04%

SUBTOTAL

4.02%

Utility

Electric

0.38%

SUBTOTAL

0.38%

Financial Institutions

Insurance

0.07%

Banking

0.05%

Finance

0.02%

SUBTOTAL

0.14%

SUBTOTAL

4.54%

Emerging Markets - Treasuries

1.83%

Common Stocks

1.45%

Collateralized Loan Obligations

CLO - Floating Rate

1.43%

SUBTOTAL

1.43%

Quasi-Sovereigns

Quasi-Sovereign Bonds

1.39%

SUBTOTAL

1.39%

Total Return Swaps

0.98%

Asset-Backed Securities

Other ABS - Fixed Rate

0.44%

Autos - Fixed Rate

0.27%

Home Equity Loans - Fixed Rate

0.25%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

0.97%

Investment Companies

Funds and Investment Trusts

0.51%

SUBTOTAL

0.51%

Preferred Stocks

Financial Institutions

0.23%

Industrial

0.10%

SUBTOTAL

0.33%

Local Governments - US Municipal Bonds

0.32%

Inflation-Linked Securities

0.26%

Warrants

0.04%

Reverse Repurchase Agreements

-0.06%

Equity Futures

Equity Index Futures

-0.10%

SUBTOTAL

-0.10%

Currency Instruments

Forward Currency Exchange Contracts

-0.24%

SUBTOTAL

-0.24%

Net Cash Equivalents

Investment Companies

0.66%

Cash

0.36%

Governments - Treasuries

0.33%

Foreign Currency

-0.02%

SUBTOTAL

1.33%

Derivative Offsets

Futures Offsets

-5.24%

Swaps Offsets

-32.77%

SUBTOTAL

-38.01%

Total

100.00%

Country Breakdown

Portfolio %

United States

64.50%

Brazil

4.49%

United Kingdom

2.63%

Canada

1.86%

Mexico

1.81%

Egypt

1.39%

Colombia

1.15%

France

1.07%

Luxembourg

1.06%

Dominican Republic

1.04%

Cayman Islands

0.98%

Italy

0.97%

Argentina

0.92%

Netherlands

0.88%

Switzerland

0.86%

Nigeria

0.85%

Ukraine

0.82%

Bahrain

0.74%

Russia

0.67%

Ivory Coast

0.64%

Spain

0.60%

Zambia

0.53%

Kenya

0.49%

Ireland

0.49%

Oman

0.45%

Gabon

0.45%

South Africa

0.43%

Senegal

0.42%

Angola

0.41%

Bermuda

0.41%

Finland

0.39%

Ghana

0.39%

Sweden

0.37%

Macau

0.31%

El Salvador

0.30%

Costa Rica

0.28%

Jersey (Channel Islands)

0.27%

Ecuador

0.27%

Denmark

0.26%

Honduras

0.25%

Indonesia

0.25%

Peru

0.25%

Germany

0.25%

Hong Kong

0.23%

Israel

0.22%

India

0.20%

Turkey

0.18%

Chile

0.18%

Mongolia

0.16%

Jamaica

0.14%

Australia

0.13%

Japan

0.11%

Kazakhstan

0.07%

Venezuela

0.07%

Guatemala

0.06%

Jordan

0.06%

United Arab Emirates

0.06%

Iraq

0.06%

Morocco

0.05%

Kuwait

0.04%

China

0.03%

Lebanon

0.03%

Sri Lanka

0.02%

Pakistan

0.02%

Belgium

0.02%

Norway

0.01%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

98.34%

South African Rand

0.49%

Brazilian Real

0.42%

Egypt Pound

0.41%

Indonesian Rupiah

0.25%

Euro

0.11%

Great British Pound

0.05%

Canadian Dollar

0.03%

Argentine Peso

0.02%

Nigerian Naira

0.02%

Indian Rupee

0.01%

Mexican Peso

0.01%

Malaysian Ringgit

0.01%

Norwegian Krone

0.01%

Taiwan New Dollar

0.01%

Swiss Franc

-0.01%

Chilean Peso

-0.01%

Russian Rubles

-0.06%

Colombian Peso

-0.11%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

5.48%

AA

0.91%

A

0.83%

BBB

19.02%

BB

28.95%

B

25.39%

CCC

9.16%

CC

0.47%

C

0.11%

D

0.62%

Not Rated

5.49%

Short Term Investments

0.99%

Reverse Repurchase Agreements

-0.06%

N/A

2.64%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

6.70%

1 to 5 years

59.21%

5 to 10 years

21.49%

10 to 20 years

6.69%

20 to 30 years

3.95%

More Than 30 years

0.47%

Other

1.49%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.58%

Average Bond Price:

105.48

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

40.58%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

40.58%

Average Maturity:

5.45  Years

Effective Duration:

4.30  Years

Total Net Assets:

$1,120.52 Million

Net Asset Value:

$12.99

Number of Holdings:

1718

Portfolio Turnover:

32%