# EDGAR Filing Document

**Accession Number:** 0001274676
**File Stem:** 0001752724-23-070280
**Filing Date:** 2023-3
**Character Count:** 40668
**Document Hash:** 41dd0f7e41a1f0cd657949c18703dea4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-070280.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-070280

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AB CORPORATE SHARES
- **CENTRAL INDEX KEY:** 0001274676
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21497
- **FILM NUMBER:** 23770470

**BUSINESS ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** 2129691000

**MAIL ADDRESS:**
- **STREET 1:** ALLIANCEBERNSTEIN LP
- **STREET 2:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALLIANCEBERNSTEIN CORPORATE SHARES
- **DATE OF NAME CHANGE:** 20031230

## Series and Classes Contracts Data

### AB Tax-Aware Real Return Income Shares (Series ID: S000031982)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000099557 | AB Tax-Aware Real Return Income Shares | TARRX           |

## Nport-Ex

**AB Tax-Aware Real Return Income Shares** 

**Portfolio of Investments** 

**January 31, 2023 (unaudited)** 

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **MUNICIPAL OBLIGATIONS – 83.0%** | **MUNICIPAL OBLIGATIONS – 83.0%** | **MUNICIPAL OBLIGATIONS – 83.0%** |
|  **Long-Term Municipal Bonds – 83.0%** | **Long-Term Municipal Bonds – 83.0%** | **Long-Term Municipal Bonds – 83.0%** |
|  **Alaska – 5.6%** | **Alaska – 5.6%** | **Alaska – 5.6%** |
|  Alaska Industrial Development & Export Authority<br> (Greater Fairbanks Community Hospital Foundation Obligated Group)<br>Series 2019<br>4.00%, 04/01/2033 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462087 |
|  **Arizona – 3.7%** | **Arizona – 3.7%** | **Arizona – 3.7%** |
|  City of Phoenix Civic Improvement Corp.<br> (Phoenix Sky Harbor International Airport)<br>Series 2019-B<br>5.00%, 07/01/2033 | 275 | 303485 |
|  **Colorado – 4.5%** | **Colorado – 4.5%** | **Colorado – 4.5%** |
|  Weld County School District No. RE-2 Eaton<br>Series 2019<br>5.00%, 12/01/2027 | 325 | 366725 |
|  **Connecticut – 10.9%** | **Connecticut – 10.9%** | **Connecticut – 10.9%** |
|  City of New Haven CT<br>Series 2017-A<br>5.25%, 08/01/2026 | 70 | 75667 |
|  Connecticut State Health & Educational Facilities Authority<br> (Hartford HealthCare Obligated Group)<br>Series 2020-A<br>5.00%, 07/01/2034 | 515 | 570696 |
|  State of Connecticut<br>Series 2020-A<br>5.00%, 01/15/2031 | 215 | 249946 |
|  |  | 896309 |
|  **District of Columbia – 4.1%** | **District of Columbia – 4.1%** | **District of Columbia – 4.1%** |
|  District of Columbia<br> (District of Columbia Fed Hwy Grant)<br>Series 2020<br>5.00%, 12/01/2031 | 290 | 337589 |
|  **Florida – 4.4%** | **Florida – 4.4%** | **Florida – 4.4%** |
|  Capital Projects Finance Authority/FL<br> (CAPFA Capital Corp. 2000F)<br>Series 2020-A<br>5.00%, 10/01/2033 | 250 | 256057 |
|  Greater Orlando Aviation Authority<br>Series 2019-A<br>5.00%, 10/01/2027 | 95 | 103873 |
|  |  | 359930 |
|  **Illinois – 8.6%** | **Illinois – 8.6%** | **Illinois – 8.6%** |
|  Illinois Finance Authority<br> (Illinois Institute of Technology)<br>Series 2019<br>5.00%, 09/01/2032 | 100 | 102479 |
|  Sales Tax Securitization Corp.<br>Series 2020-A<br>5.00%, 01/01/2026 | 270 | 288204 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **Principal<br>Amount<br>(000)** | **U.S. $ Value** | **U.S. $ Value** |
|  State of Illinois<br>Series 2018-A<br>5.00%, 10/01/2025 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310078 |
|  |  |  |  | 700761 |
|  **Kentucky – 12.1%** | **Kentucky – 12.1%** | **Kentucky – 12.1%** | **Kentucky – 12.1%** | **Kentucky – 12.1%** |
|  City of Ashland KY<br> (Ashland Hospital Corp. Obligated Group)<br>Series 2019<br>5.00%, 02/01/2027 |  | 100 |  | 106957 |
|  Kentucky Public Energy Authority<br> (Morgan Stanley)<br>Series 2019-C<br>4.00%, 02/01/2050 |  | 570 |  | 571585 |
|  Louisville/Jefferson County Metropolitan Government<br> (Norton Healthcare Obligated Group)<br>Series 2020-A<br>4.00%, 10/01/2040 |  | 320 |  | 311016 |
|  |  |  |  | 989558 |
|  **Louisiana – 1.3%** | **Louisiana – 1.3%** | **Louisiana – 1.3%** | **Louisiana – 1.3%** | **Louisiana – 1.3%** |
|  Parish of St. James LA<br> (NuStar Logistics LP)<br>Series 2020<br>5.85%, 08/01/2041<sup>(a)</sup> |  | 100 |  | 103060 |
|  **Michigan – 2.3%** | **Michigan – 2.3%** | **Michigan – 2.3%** | **Michigan – 2.3%** | **Michigan – 2.3%** |
|  Michigan State University<br>Series 2019-C<br>5.00%, 08/15/2032 |  | 160 |  | 184634 |
|  **New Jersey – 4.6%** | **New Jersey – 4.6%** | **New Jersey – 4.6%** | **New Jersey – 4.6%** | **New Jersey – 4.6%** |
|  New Jersey Transportation Trust Fund Authority<br>Series 2019<br>5.00%, 12/15/2031 |  | 330 |  | 374567 |
|  **New York – 4.6%** | **New York – 4.6%** | **New York – 4.6%** | **New York – 4.6%** | **New York – 4.6%** |
|  Metropolitan Transportation Authority<br>Series 2020-C<br>4.75%, 11/15/2045 |  | 150 |  | 149596 |
|  New York City Transitional Finance Authority Future Tax Secured Revenue<br>Series 2019-B<br>5.00%, 11/01/2035 |  | 200 |  | 228454 |
|  |  |  |  | 378050 |
|  **Ohio – 2.0%** | **Ohio – 2.0%** | **Ohio – 2.0%** | **Ohio – 2.0%** | **Ohio – 2.0%** |
|  Buckeye Tobacco Settlement Financing Authority<br>Series 2020-A<br>5.00%, 06/01/2034 |  | 150 |  | 163422 |
|  **Other – 1.0%** | **Other – 1.0%** | **Other – 1.0%** | **Other – 1.0%** | **Other – 1.0%** |
|  Federal Home Loan Mortgage Corp. Multifamily VRD Certificates<br> (FHLMC Multifamily VRD Certificates)<br>2.65%, 06/15/2036<sup>(a)</sup> |  | 100 |  | 83542 |

---

------

---

| | | |
|:---|:---|:---|
| | **Principal<br>Amount<br>(000)** | **U.S. $ Value** |
|  **Pennsylvania – 3.7%** | **Pennsylvania – 3.7%** | **Pennsylvania – 3.7%** |
|  City of Philadelphia PA<br>Series 2019-B<br>5.00%, 02/01/2030 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174350 |
|  Commonwealth Financing Authority<br> (Commonwealth Financing Authority State Lease)<br>Series 2018<br>5.00%, 06/01/2025 | 120 | 126093 |
|  |  | 300443 |
|  **Texas – 2.2%** |  |  |
|  City of Houston TX Airport System Revenue<br> (United Airlines, Inc.)<br>Series 2014<br>5.00%, 07/01/2029 | 100 | 101027 |
|  Port Beaumont Navigation District<br> (Jefferson Railport Terminal II LLC)<br>Series 2020<br>3.625%, 01/01/2035<sup>(a)</sup> | 100 | 82076 |
|  |  | 183103 |
|  **Virginia – 2.5%** |  |  |
|  Virginia College Building Authority<br> (Virginia College Building Authority State Lease)<br>Series 2019<br>5.00%, 02/01/2026 | 190 | 205567 |
|  **West Virginia – 4.3%** |  |  |
|  State of West Virginia<br>Series 2019<br>5.00%, 06/01/2027 | 315 | 352056 |
|  **Wisconsin – 0.6%** |  |  |
|  UMA Education, Inc.<br>Series 2019<br>5.00%, 10/01/2034<sup>(a)</sup> | 50 | 49822 |
|  Total Municipal Obligations <br>(cost $7,142,718) |  | 6794710 |
|  | **Shares** |  |
|  **SHORT-TERM INVESTMENTS – 8.4%** |  |  |
|  **Investment Companies – 8.4%** |  |  |
|  AB Fixed Income Shares, Inc. - Government Money Market Portfolio - Class AB, 4.15%<sup>(b) (c) (d)</sup> <br>(cost $685,444) | 685444 | 685444 |
|  **Total Investments – 91.4%** <br> (cost $7,828,162)<sup>(e)</sup> |  | 7480154 |
|  Other assets less liabilities – 8.6% |  | 704042 |
|  **Net Assets – 100.0%** |  | $**8184196** |

---

------

**CENTRALLY CLEARED INFLATION (CPI) SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | **Payment<br>Frequency**<br> **Paid/<br>Received** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 3000 | 02/10/2023 | 1.558% | CPI# | Maturity | $327186 | $— | $327186 |
| USD | 900 | 12/24/2024 | 1.846% | CPI# | Maturity | 96675 |  | 96675 |
| USD | 2000 | 02/10/2027 | 1.755% | CPI# | Maturity | 244817 |  | 244817 |
| USD | 2350 | 12/24/2029 | 1.978% | CPI# | Maturity | 290525 |  | 290525 |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959203 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959203 |

---

*#* *Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).* 

**CENTRALLY CLEARED INTEREST RATE SWAPS** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | **Rate Type** | **Rate Type** | | | | |
| **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | **Payment<br>Frequency**<br> **Paid/<br>Received** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| USD | 6060 | 02/01/2025 | 4.283% | 1 Day SOFR | Annual | $(6074) | $— | $(6074) |
| USD | 7010 | 02/01/2028 | 3.469% | 1 Day SOFR | Annual | (15407) |  | (15407) |
| USD | 2830 | 02/01/2033 | 3.250% | 1 Day SOFR | Annual | (5743) |  | (5743) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27224) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27224) |

---

**INFLATION (CPI) SWAPS** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Rate Type** | **Rate Type** | | | | |
| **Swap Counterparty** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Termination<br>Date** | **Payments<br>made<br>by the<br>Fund** | **Payments<br>received<br>by the<br>Fund** | **Payment<br>Frequency<br>Paid/<br>Received** | **Market<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| JPMorgan Chase Bank, NA | USD | 1000 | 04/29/2036 | 2.498% | CPI# | Maturity | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73651 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73651 |

---

*#* *Variable interest rate based on the rate of inflation as determined by the Consumer Price Index (CPI).* 

------

**TOTAL RETURN SWAPS** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty & <br>Referenced Obligation** | **Rate Paid/<br>Received** | **Payment<br>Frequency** | **Current<br>Notional<br>(000)** | **Current<br>Notional<br>(000)** | **Maturity<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Receive Total Return on Reference Obligation** |  |  |  |  |  |  |
| Barclays Bank PLC |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital US Inflation Linked Bonds 1 to 10 Year | 1 Day<br>SOFR plus<br>0.25% | Maturity | USD | 5525 | 03/01/2023 | $(405301) |
| &nbsp;&nbsp;&nbsp;&nbsp; Barclays Capital US Inflation Linked Bonds 1 to 10 Year | 1 Day<br>SOFR plus<br>0.25% | Maturity | USD | 8131 | 03/23/2023 | (558451) |
|  |  |  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(963752) |

---

*(a)* *Security is exempt from registration under Rule 144A or Regulation S of the Securities Act of 1933. These securities are considered restricted, but liquid and may be resold in transactions exempt from registration. At January 31, 2023, the aggregate market value of these securities amounted to $318,500 or 3.9% of net assets.* 

*(b)* *Affiliated investments.* 

*(c)* *The rate shown represents the 7-day yield as of period end.* 

*(d)* *To obtain a copy of the fund's shareholder report, please go to the Securities and Exchange Commission's website at www.sec.gov, or call AB at (800) 227-4618.* 

*(e)* *As of January 31, 2023, the cost basis of investment securities owned was substantially identical for both book and tax purposes. Gross unrealized appreciation of investments was $1,044,587 and gross unrealized depreciation of investments was $(1,350,717), resulting in net unrealized depreciation of $(306,130).* 

---

| |
|:---|
| *Glossary:* |
| *CPI – Consumer Price Index* |
| *FHLMC – Federal Home Loan Mortgage Corporation* |
| *SOFR – Secured Overnight Financing Rate* |

---

------

**AB Tax-Aware Real Return Income Shares** 

**January 31, 2023 (unaudited)** 

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates,
prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value
of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which is then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3.

Other fixed income investments, including non-U.S. government and corporate debt, are generally valued using quoted market prices, if available, which are typically impacted by current interest rates, maturity dates and any perceived credit risk of the issuer. Additionally, in the absence of quoted market prices, these inputs are used by pricing vendors to derive a valuation based upon industry or proprietary models which incorporate issuer specific data with relevant yield/spread comparisons with more widely quoted bonds with similar key characteristics. Those investments for which there are observable inputs are classified as Level 2. Where the inputs are not observable, the investments are classified as Level 3.

------

The following table summarizes the valuation of the Fund's investments by the above fair value hierarchy levels as of January 31, 2023:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities:** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
| Long-Term Municipal Bonds | $— | $6794710 | $— | $6794710 |
| Short-Term Investments | 685444 |  |  | 685444 |
| Total Investments in Securities | 685444 | 6794710 |  | 7480154 |
| **Other Financial Instruments<sup>(a)</sup>:** |  |  |  |  |
| **Assets:** | **Assets:** | **Assets:** | **Assets:** | **Assets:** |
| Centrally Cleared Inflation (CPI) Swaps |  | 959203 |  | 959203 |
| Inflation (CPI) Swaps |  | 73651 |  | 73651 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| Centrally Cleared Interest Rate Swaps |  | (27224) |  | (27224) |
| Total Return Swaps |  | (963752) |  | (963752) |
| **Total** | $**685444** | $**6836588** | $**—** | $**7522032** |

---

*<sup>(a)</sup>* *Other financial instruments are derivative instruments, such as futures, forwards and swaps, which are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.* 

A summary of the Fund's transactions in AB mutual funds for the nine months ended January 31, 2023 is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Market Value**<br> **04/30/2022**<br> **(000)** | **Purchases**<br> **at Cost**<br> **(000)** | **Sales**<br> **Proceeds**<br> **(000)** | **Market Value**<br> **01/31/2023**<br> **(000)** | **Dividend**<br> **Income**<br> **(000)** |
| Government Money Market Portfolio | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4578 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6102 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** AB CORPORATE SHARES

- **b. Investment Company Act file number:** 811-21497

- **c. CIK number of Registrant:** 0001274676

- **d. LEI of Registrant:** 549300BBBXET1QJ4NU38

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ALLIANCEBERNSTEIN LP

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10105

  - **Telephone number:** 212-969-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** AB Tax-Aware Real Return Income Shares

- **b. EDGAR series identifier (if any):** S000031982

- **c. LEI of Series:** 3BIY15XUWN7KS81YMK32

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $54188822.80

**Total Liabilities:** $46004378.63

**Net Assets:** $8184444.17

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -1.10000000 | **1-Year:** -8.60000000 | **5-Year:** -121.86000000 | **10-Year:** -109.69000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -1.73000000 | **1-Year:** -17.66000000 | **5-Year:** -607.66000000 | **10-Year:** -141.17000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000099557 | 1.74%                | -1.22%               | 2.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $520.62                  | $281781.31                                 |
| Month 2  | $-22559.17               | $32020.99                                  |
| Month 3  | $-31342.00               | $207572.76                                 |

### Schedule of Portfolio Investments

| Name                                                                    | Title                                                                                                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Jersey Transportation Trust Fund Authority                          | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                                                                                        | CUSIP: 6461366H9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    330000 | PA      | $374567.33    | 4.58%             | 2031-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Phoenix Civic Improvement Corp                                  | PHOENIX AZ CIVIC IMPT CORP ARPT REVENUE                                                                                        | CUSIP: 71883MPR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $303485.16    | 3.71%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS1YNO4   IRS USD R V 12MUSCPI IS1YNP5 CCPINFLATIONZERO / Short: BS1YNO4   IRS USD P F  1.97750 IS1YNO4 CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2350000 | OU      | $290524.98    | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Greater Orlando Aviation Authority                                      | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE                                                                                 | CUSIP: 392274Y91<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |     95000 | PA      | $103872.91    | 1.27%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Beaumont Navigation District                                       | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE                                                                              | CUSIP: 73360CAC8<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |    100000 | PA      | $82076.48     | 1.00%             | 2035-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| City of Philadelphia PA                                                 | PHILADELPHIA PA                                                                                                                | CUSIP: 717813XE4<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    155000 | PA      | $174350.28    | 2.13%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority             | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE                                                                                | CUSIP: 20775DEX6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    515000 | PA      | $570695.96    | 6.97%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alliance Bernstein                                                      | AB Fixed Income Shares, Inc. - Government Money Market Portfolio                                                               | CUSIP: 018616748<br>LEI: 5493006YWHO7MNK2U579 | Long             | STIV             | RF                | US        |    685444 | NS      | $685443.71    | 8.37%             |  |  |  | No            |                  1 | On Loan: No      |
| City of Houston TX Airport System Revenue                               | HOUSTON TX ARPT SYS REVENUE                                                                                                    | CUSIP: 4423487H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $101026.48    | 1.23%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital Projects Finance Authority/FL                                   | CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE                                                                                  | CUSIP: 140427BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $256057.33    | 3.13%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily VRD Certificates                                      | FEDERAL HOME LOAN MTGE CORP VA MF VARIABLE RATE CTFS                                                                           | CUSIP: 31350ACQ9<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    100000 | PA      | $83541.98     | 1.02%             | 2036-06-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| City of Ashland KY                                                      | ASHLAND KY MED CENTER REVENUE                                                                                                  | CUSIP: 044293BP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $106957.46    | 1.31%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                       | ILLINOIS ST                                                                                                                    | CUSIP: 4521522H3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    295000 | PA      | $310077.86    | 3.79%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Connecticut                                                    | CONNECTICUT ST                                                                                                                 | CUSIP: 20772KHU6<br>LEI: 5493007GRO6CU0IKP741 | Long             | DBT              | MUN               | US        |    215000 | PA      | $249945.71    | 3.05%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank N.A.                                                | Long: IS29092   IRS USD R V 12MUSCPI IS290A3 INFLATIONZERO / Short: IS29092   IRS USD P F  2.49750 IS29092 INFLATIONZERO       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |   1000000 | OU      | $73650.62     | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Sales Tax Securitization Corp                                           | SALES TAX SECURITIZATION CORP IL                                                                                               | CUSIP: 79467BCR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $288204.35    | 3.52%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                       | Long: IS2E1Y9   TRS USD R F  1.00000 IS2E1Y9 BONDTRS / Short: IS2E1Y9   TRS USD P V 00MSOFR IS2E1Z0 BONDTRS                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   5800000 | OU      | $-405300.93   | -4.95%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS2KP56   IRS USD R V 00MSOFR IS2KP67 CCPOIS / Short: BS2KP56   IRS USD P F  3.25000 IS2KP56 CCPOIS                      | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2830000 | OU      | $-5743.43     | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| District of Columbia                                                    | DIST OF COLUMBIA REVENUE                                                                                                       | CUSIP: 25483VWT7<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |    290000 | PA      | $337589.55    | 4.12%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Transitional Finance Authority Future Tax Secured Revenue | NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE                                                                                 | CUSIP: 64971XND6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $228453.86    | 2.79%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                     | VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE 21ST CENTURY                                                                    | CUSIP: 92778VHU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $205566.55    | 2.51%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                              | ILLINOIS ST FIN AUTH REVENUE                                                                                                   | CUSIP: 45204E6W3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    100000 | PA      | $102478.48    | 1.25%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS1ZN69   IRS USD R V 12MUSCPI IS1ZN70 CCPINFLATIONZERO / Short: BS1ZN69   IRS USD P F  1.75500 IS1ZN69 CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   2000000 | OU      | $244817.44    | 2.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Financing Authority                                        | CMWLTH FING AUTH PA TOBACCO MASTER SETTLEMENT PAYMENT REV                                                                      | CUSIP: 20282EAF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $126092.34    | 1.54%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS1ZN81   IRS USD R V 12MUSCPI IS1ZN92 CCPINFLATIONZERO / Short: BS1ZN81   IRS USD P F  1.55750 IS1ZN81 CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   3000000 | OU      | $327186.12    | 4.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State of West Virginia                                                  | WEST VIRGINIA ST                                                                                                               | CUSIP: 956553E72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    315000 | PA      | $352055.97    | 4.30%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                       | Long: IS2EHT6   TRS USD R F  1.00000 IS2EHT6 BONDTRS / Short: IS2EHT6   TRS USD P V 00MSOFR IS2EHU7 BONDTRS                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   8500000 | OU      | $-558451.44   | -6.82%            |  |  |  | No            |                  2 | On Loan: No      |
| Buckeye Tobacco Settlement Financing Authority                          | BUCKEYE OH TOBACCO SETTLEMENT FING AUTH                                                                                        | CUSIP: 118217CQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $163422.27    | 2.00%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS2KP90   IRS USD R V 00MSOFR IS2KPA1 CCPOIS / Short: BS2KP90   IRS USD P F  4.28300 IS2KP90 CCPOIS                      | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   6060000 | OU      | $-6073.51     | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| City of New Haven CT                                                    | NEW HAVEN CT                                                                                                                   | CUSIP: 6450204H8<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |     70000 | PA      | $75667.54     | 0.92%             | 2026-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Michigan State University                                               | MICHIGAN ST UNIV REVENUES                                                                                                      | CUSIP: 594712WA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $184633.63    | 2.26%             | 2032-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alaska Industrial Development & Export Authority                        | ALASKA ST INDL DEV & EXPORT AUTH REVENUE                                                                                       | CUSIP: 011903HA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $462087.29    | 5.65%             | 2033-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Parish of St James LA                                                   | SAINT JAMES PARISH LA REVENUE                                                                                                  | CUSIP: 790103AY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $103059.82    | 1.26%             | 2041-08-01      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS2KP78   IRS USD R V 00MSOFR IS2KP89 CCPOIS / Short: BS2KP78   IRS USD P F  3.46850 IS2KP78 CCPOIS                      | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   7010000 | OU      | $-15407.42    | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                        | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE                                                                                | CUSIP: 74440DCM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $571584.60    | 6.98%             | 2050-02-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisville/Jefferson County Metropolitan Government                     | LOUISVILLE & JEFFERSON CNTY KY MET GOVT HLTH SYS REVENUE                                                                       | CUSIP: 54659LCA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $311015.81    | 3.80%             | 2040-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Weld County School District No RE-2 Eaton                               | WELD CNTY CO SCH DIST #RE002 EATON                                                                                             | CUSIP: 949255GP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $366724.74    | 4.48%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                   | MET TRANSPRTN AUTH NY REVENUE                                                                                                  | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |    150000 | PA      | $149596.31    | 1.83%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                | PUBLIC FIN AUTH WI REVENUE                                                                                                     | CUSIP: 74442PMT9<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |     50000 | PA      | $49821.80     | 0.61%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Limited                                                             | Long: BS1YNQ6   IRS USD R V 12MUSCPI IS1YNR7 CCPINFLATIONZERO / Short: BS1YNQ6   IRS USD P F  1.84600 IS1YNQ6 CCPINFLATIONZERO | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    900000 | OU      | $96674.74     | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** AB CORPORATE SHARES

**Signature:** Joseph Mantineo

**Name of Signer:** Joseph Mantineo

**Title:** Treasurer and Chief Financial Officer