AB Global High Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

Portfolio %

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

3.67%

2) Brazil Notas do Tesouro Nacional Series F 10.00%, 1/01/21 - 1/01/27

2.97%

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

2.85%

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

1.03%

5) Wachovia Mortgage Loan Trust Series Series 2006-ALT1, Class A2 0.936%, 1/25/37

0.78%

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

0.63%

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

0.55%

8) Dominican Republic International Bond  16.00%, 7/10/20

0.50%

9) Russian Federal Bond - OFZ Series 6217 7.50%, 8/18/21

0.49%

10) Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2014-HQ3, Class M3 5.506%, 10/25/24

0.47%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Consumer Non-Cyclical

6.16%

Energy

5.30%

Communications - Media

5.12%

Communications - Telecommunications

3.64%

Basic

3.44%

Consumer Cyclical - Other

3.16%

Capital Goods

3.01%

Technology

2.44%

Consumer Cyclical - Automotive

2.03%

Consumer Cyclical - Retailers

1.67%

Services

1.05%

Transportation - Services

0.80%

Other Industrial

0.69%

Consumer Cyclical - Entertainment

0.50%

Consumer Cyclical - Restaurants

0.29%

Transportation - Airlines

0.11%

SUBTOTAL

39.41%

Financial Institutions

Banking

3.05%

Finance

1.03%

Other Finance

0.58%

Insurance

0.35%

REITS

0.04%

Brokerage

0.01%

SUBTOTAL

5.06%

Utility

Electric

1.31%

SUBTOTAL

1.31%

Credit Default Swaps

-1.67%

SUBTOTAL

-1.67%

SUBTOTAL

44.11%

Interest Rate Futures

15.03%

Global Governments

13.15%

Collateralized Mortgage Obligations

Risk Share Floating Rate

9.06%

Non-Agency Fixed Rate

2.57%

Non-Agency Floating Rate

1.20%

Agency Floating Rate

0.06%

SUBTOTAL

12.89%

Corporates - Investment Grade

Industrial

Basic

1.21%

Energy

0.76%

Technology

0.65%

Capital Goods

0.41%

Communications - Telecommunications

0.30%

Consumer Non-Cyclical

0.29%

Communications - Media

0.26%

Transportation - Airlines

0.16%

Consumer Cyclical - Automotive

0.15%

Other Industrial

0.03%

Consumer Cyclical - Other

0.01%

SUBTOTAL

4.23%

Financial Institutions

Insurance

1.23%

Banking

0.99%

REITS

0.48%

Brokerage

0.17%

Finance

0.12%

SUBTOTAL

2.99%

Credit Default Swaps

0.93%

SUBTOTAL

0.93%

Utility

Electric

0.47%

Natural Gas

0.11%

SUBTOTAL

0.58%

SUBTOTAL

8.73%

Commercial Mortgage-Backed Securities

Credit Default Swaps

4.06%

Non-Agency Fixed Rate CMBS

3.29%

Non-Agency Floating Rate CMBS

0.20%

SUBTOTAL

7.55%

Total Return Swaps

6.45%

Interest Rate Swaps

6.37%

Emerging Markets - Sovereigns

4.94%

Bank Loans

Industrial

Technology

0.85%

Consumer Non-Cyclical

0.62%

Consumer Cyclical - Retailers

0.57%

Other Industrial

0.44%

Consumer Cyclical - Other

0.43%

Energy

0.37%

Capital Goods

0.23%

Consumer Cyclical - Entertainment

0.19%

Basic

0.15%

Consumer Cyclical - Automotive

0.08%

SUBTOTAL

3.93%

Utility

Electric

0.17%

SUBTOTAL

0.17%

Financial Institutions

Insurance

0.04%

SUBTOTAL

0.04%

SUBTOTAL

4.14%

Emerging Markets - Treasuries

3.88%

Emerging Markets - Corporate Bonds

Industrial

Communications - Telecommunications

0.42%

Consumer Non-Cyclical

0.39%

Capital Goods

0.33%

Transportation - Airlines

0.27%

Basic

0.19%

Consumer Cyclical - Retailers

0.02%

SUBTOTAL

1.62%

Financial Institutions

Finance

0.11%

SUBTOTAL

0.11%

SUBTOTAL

1.73%

Asset-Backed Securities

Home Equity Loans - Fixed Rate

0.56%

Home Equity Loans - Floating Rate

0.22%

Other ABS - Fixed Rate

0.17%

Other ABS - Floating Rate

0.15%

Autos - Fixed Rate

0.06%

SUBTOTAL

1.16%

Governments - Sovereign Agencies

1.12%

Preferred Stocks

Industrial

0.58%

Financial Institutions

0.47%

Utility

0.03%

SUBTOTAL

1.08%

Whole Loan Trusts

Performing Asset

0.76%

SUBTOTAL

0.76%

Common Stocks

0.60%

Inflation-Linked Securities

0.50%

Currency Instruments

Forward Currency Exchange Contracts

0.47%

SUBTOTAL

0.47%

Local Governments - Municipal Bonds

0.47%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.43%

SUBTOTAL

0.43%

Local Governments - Regional Bonds

0.40%

Equity Futures

Equity Index Futures

0.26%

SUBTOTAL

0.26%

Investment Companies

Funds and Investment Trusts

0.16%

SUBTOTAL

0.16%

Warrants

0.07%

Options Purchased - Calls

Options on Forward Contracts

0.04%

SUBTOTAL

0.04%

Options Purchased - Puts

Options on Equities

0.03%

SUBTOTAL

0.03%

Call Options Written

-0.01%

Swaptions

-0.02%

Put Options Written

-0.09%

Reverse Repurchase Agreements

-8.22%

Net Cash Equivalents

Investment Companies

2.39%

Cash

0.68%

Foreign Currency

-0.01%

SUBTOTAL

3.06%

Derivative Offsets

Futures Offsets

-15.30%

Swaps Offsets

-15.94%

SUBTOTAL

-31.24%

Total

100.00%

Country Breakdown

Portfolio %

United States

68.69%

Brazil

4.94%

United Kingdom

2.74%

Canada

2.43%

France

1.39%

Argentina

1.34%

Luxembourg

1.32%

Mexico

1.23%

Indonesia

1.19%

South Africa

1.17%

Dominican Republic

1.09%

Ireland

1.08%

Colombia

0.87%

Switzerland

0.81%

Netherlands

0.81%

Italy

0.73%

Russia

0.73%

Turkey

0.64%

Ivory Coast

0.59%

United Arab Emirates

0.54%

Spain

0.52%

Venezuela

0.51%

Germany

0.45%

Jamaica

0.36%

Croatia

0.35%

Gabon

0.23%

Angola

0.21%

Barbados

0.20%

Portugal

0.18%

New Zealand

0.17%

Hong Kong

0.17%

Trinidad & Tobago

0.17%

Mongolia

0.17%

Ecuador

0.16%

Macau

0.16%

Australia

0.16%

Zambia

0.14%

Pakistan

0.13%

Ghana

0.12%

India

0.11%

Cayman Islands

0.11%

Cameroon

0.11%

Sri Lanka

0.09%

Guatemala

0.08%

Peru

0.08%

Denmark

0.07%

El Salvador

0.06%

Kenya

0.06%

Nigeria

0.05%

Jordan

0.05%

Lebanon

0.05%

Chile

0.05%

Finland

0.04%

Ethiopia

0.04%

Iraq

0.02%

Norway

0.02%

Serbia

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

98.43%

Brazilian Real

2.74%

Russian Rubles

2.57%

Colombian Peso

1.72%

Indonesian Rupiah

1.45%

South African Rand

1.32%

Argentine Peso

0.89%

Dominican Peso

0.50%

Chilean Peso

0.49%

Canadian Dollar

0.34%

Peruvian Sol

0.25%

Hong Kong Dollar

0.03%

Norwegian Krone

0.01%

New Turkish Lira

0.01%

Great British Pound

-0.01%

Japanese Yen

-0.01%

Mexican Peso

-0.05%

Swedish Krona

-0.05%

Singapore Dollar

-0.47%

Australian Dollar

-0.96%

Chinese Yuan Renminbi (Offshore)

-0.99%

Swiss Franc

-1.00%

Euro

-1.33%

New Zealand Dollar

-1.45%

Taiwan New Dollar

-1.73%

Chinese Yuan Renminbi

-2.70%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

9.96%

AA

0.71%

A

2.00%

BBB

16.22%

BB

28.83%

B

26.99%

CCC

7.67%

CC

1.56%

C

0.37%

D

1.17%

Not Rated

7.84%

Short Term Investments

2.39%

Reverse Repurchase Agreements

-8.22%

N/A

2.51%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

3.81%

1 to 5 years

40.60%

5 to 10 years

38.77%

10 to 20 years

9.28%

20 to 30 years

5.23%

More Than 30 years

1.65%

Other

0.66%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.60%

Average Bond Price:

99.51

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

34.50%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

34.50%

Average Maturity:

8.00  Years

Effective Duration:

5.75  Years

Total Net Assets:

$1,161.97 Million

Net Asset Value:

$13.47

Number of Holdings:

1293

Portfolio Turnover:

42%