AB Global High Income Fund Releases Monthly Portfolio Update

Top 10 Fixed-Income Holdings

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

2.58%

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

2.20%

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

1.74%

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

1.52%

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

0.89%

6) Wachovia Mortgage Loan Trust Series 2006-ALT1, Class A2 2.395%, 1/25/37 

0.57%

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

0.57%

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

0.56%

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

0.52%

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

0.48%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

7.39%

Communications - Media

4.36%

Basic

3.65%

Consumer Non-Cyclical

3.22%

Communications - Telecommunications

2.81%

Consumer Cyclical - Other

2.50%

Capital Goods

1.73%

Consumer Cyclical - Automotive

1.72%

Services

1.70%

Technology

1.58%

Consumer Cyclical - Retailers

0.88%

Transportation - Services

0.85%

Other Industrial

0.73%

Consumer Cyclical - Entertainment

0.36%

Consumer Cyclical - Restaurants

0.19%

SUBTOTAL

33.67%

Credit Default Swaps

14.62%

SUBTOTAL

14.62%

Financial Institutions

Banking

4.61%

Finance

1.38%

Insurance

0.82%

Other Finance

0.50%

REITS

0.22%

Brokerage

0.13%

SUBTOTAL

7.66%

Utility

Electric

1.23%

Natural Gas

0.17%

SUBTOTAL

1.40%

SUBTOTAL

57.35%

Interest Rate Swaps

15.31%

Collateralized Mortgage Obligations

Risk Share Floating Rate

9.57%

Non-Agency Fixed Rate

1.05%

Non-Agency Floating Rate

0.91%

SUBTOTAL

11.53%

Global Governments

10.52%

Commercial Mortgage-Backed Securities

Credit Default Swaps

5.43%

Non-Agency Fixed Rate CMBS

1.85%

Non-Agency Floating Rate CMBS

0.15%

SUBTOTAL

7.43%

Corporates - Investment Grade

Financial Institutions

Insurance

1.79%

Banking

1.52%

REITS

0.23%

SUBTOTAL

3.54%

Industrial

Basic

0.65%

Technology

0.43%

Energy

0.38%

Capital Goods

0.26%

Communications - Telecommunications

0.24%

Consumer Non-Cyclical

0.19%

Other Industrial

0.14%

Consumer Cyclical - Other

0.14%

Communications - Media

0.14%

Consumer Cyclical - Automotive

0.12%

Services

0.06%

Transportation - Airlines

0.03%

SUBTOTAL

2.78%

Credit Default Swaps

1.01%

SUBTOTAL

1.01%

SUBTOTAL

7.33%

Emerging Markets - Sovereigns

Credit Default Swaps

0.58%

Total Return Swaps

4.73%

Emerging Markets - Treasuries

4.06%

Emerging Markets - Corporate Bonds

Industrial

Basic

0.94%

Consumer Non-Cyclical

0.87%

Energy

0.77%

Communications - Telecommunications

0.37%

Capital Goods

0.21%

Consumer Cyclical - Other

0.19%

Transportation - Services

0.15%

Technology

0.05%

Consumer Cyclical - Retailers

0.05%

Transportation - Airlines

0.03%

SUBTOTAL

3.63%

Financial Institutions

Banking

0.25%

Finance

0.05%

Insurance

0.01%

SUBTOTAL

0.31%

Utility

Electric

0.11%

SUBTOTAL

0.11%

SUBTOTAL

4.05%

Bank Loans

Industrial

Consumer Non-Cyclical

1.15%

Capital Goods

0.48%

Services

0.45%

Technology

0.32%

Other Industrial

0.27%

Consumer Cyclical - Retailers

0.27%

Consumer Cyclical - Other

0.23%

Energy

0.20%

Communications - Telecommunications

0.11%

Consumer Cyclical - Entertainment

0.08%

Basic

0.08%

Consumer Cyclical - Automotive

0.03%

Consumer Cyclical - Restaurants

0.02%

SUBTOTAL

3.69%

Financial Institutions

Insurance

0.09%

SUBTOTAL

0.09%

SUBTOTAL

3.78%

Investment Companies

Funds and Investment Trusts

2.72%

SUBTOTAL

2.72%

Interest Rate Futures

2.57%

Common Stocks

2.45%

Asset-Backed Securities

Other ABS - Fixed Rate

1.17%

Home Equity Loans - Fixed Rate

0.35%

Autos - Fixed Rate

0.09%

Home Equity Loans - Floating Rate

0.01%

SUBTOTAL

1.62%

Local Governments - US Municipal Bonds

0.46%

Local Governments - Regional Bonds

0.43%

Inflation-Linked Securities

0.29%

Preferred Stocks

Financial Institutions

0.19%

Utility

0.02%

SUBTOTAL

0.21%

Collateralized Loan Obligations

CLO - Floating Rate

0.14%

SUBTOTAL

0.14%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.10%

SUBTOTAL

0.10%

Whole Loan Trusts

Performing Asset

0.06%

SUBTOTAL

0.06%

Warrants

0.04%

Options Purchased - Puts

Options on Forward Contracts

0.03%

SUBTOTAL

0.03%

Call Options Written

-0.02%

Put Options Written

-0.12%

Currency Instruments

Forward Currency Exchange Contracts

-0.14%

SUBTOTAL

-0.14%

Equity Futures

Equity Index Futures

-2.38%

SUBTOTAL

-2.38%

Reverse Repurchase Agreements

-2.61%

Net Cash Equivalents

Investment Companies

2.98%

Cash

0.61%

Emerging Markets - Sovereigns

0.35%

Foreign Currency

-0.01%

SUBTOTAL

3.93%

Derivative Offsets

Futures Offsets

-0.21%

Swaps Offsets

-41.86%

SUBTOTAL

-42.07%

Total

100.00%

Country Breakdown

Portfolio %

United States

69.52%

Brazil

3.82%

United Kingdom

2.40%

Canada

2.01%

France

1.68%

Argentina

1.53%

Luxembourg

1.53%

Netherlands

1.35%

Dominican Republic

1.07%

Italy

1.04%

Ireland

0.84%

Switzerland

0.81%

Mexico

0.72%

Ukraine

0.68%

Spain

0.66%

Turkey

0.61%

Colombia

0.61%

Sri Lanka

0.58%

Ivory Coast

0.51%

South Africa

0.51%

India

0.45%

Russia

0.40%

Egypt

0.39%

Cayman Islands

0.38%

Zambia

0.37%

Jamaica

0.34%

Indonesia

0.32%

United Arab Emirates

0.31%

Gabon

0.25%

Denmark

0.24%

Nigeria

0.23%

Honduras

0.22%

Mongolia

0.22%

Germany

0.22%

Angola

0.20%

Malaysia

0.20%

Venezuela

0.19%

Israel

0.19%

Norway

0.18%

Guatemala

0.16%

Ghana

0.16%

Bahrain

0.15%

Ecuador

0.15%

Macau

0.15%

Sweden

0.14%

El Salvador

0.12%

Kenya

0.11%

Cameroon

0.11%

Chile

0.10%

Uruguay

0.10%

Kazakhstan

0.09%

Trinidad & Tobago

0.08%

Peru

0.08%

Australia

0.08%

Senegal

0.08%

Costa Rica

0.07%

Lebanon

0.07%

Iraq

0.06%

Jordan

0.05%

Finland

0.05%

China

0.04%

Jersey (Channel Islands)

0.02%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

102.24%

Norwegian Krone

2.36%

South Korean Won

1.01%

Indian Rupee

1.00%

Chilean Peso

0.77%

Argentine Peso

0.55%

Sri Lankan Rupee

0.48%

Swiss Franc

0.45%

Brazilian Real

0.31%

Dominican Peso

0.26%

Malaysian Ringgit

0.22%

Egypt Pound

0.13%

Indonesian Rupiah

-0.01%

Canadian Dollar

-0.03%

South African Rand

-0.03%

Chinese Yuan Renminbi (Offshore)

-0.17%

New Zealand Dollar

-0.24%

Polish Zloty

-0.26%

Euro

-0.44%

New Turkish Lira

-0.46%

Colombian Peso

-0.51%

Mexican Peso

-0.52%

Swedish Krona

-0.54%

Australian Dollar

-0.59%

Israeli New Shekel

-0.66%

Japanese Yen

-1.25%

Taiwan New Dollar

-1.75%

Great British Pound

-2.32%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

7.68%

AA

0.85%

A

2.40%

BBB

13.92%

BB

27.89%

B

27.04%

CCC

5.48%

CC

0.54%

C

0.33%

D

0.07%

Not Rated

6.51%

Short Term Investments

3.33%

Reverse Repurchase Agreements

-2.61%

N/A

6.57%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

8.43%

1 to 5 years

41.84%

5 to 10 years

36.69%

10 to 20 years

7.19%

20 to 30 years

2.78%

More Than 30 years

0.58%

Other

2.49%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

6.95%

Average Bond Price:

100.87

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

45.23%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

45.23%

Average Maturity:

6.34  Years

Effective Duration:

4.27  Years

Total Net Assets:

$1,143.72 Million

Net Asset Value:

$13.26

Number of Holdings:

1324

Portfolio Turnover:

34%