AB Global High Income Fund Releases Monthly Portfolio Update

AB Global High Income Fund, Inc.

Top 10 Fixed-Income Holdings

Portfolio %

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

3.71%

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

3.53%

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

1.03%

4) Mexican Bonos Series M 20 10.00%, 12/05/24

1.02%

5) Turkey Government Bond 11.00%, 2/24/27

1.01%

6) U.S. Treasury Notes 2.25%, 11/15/25 - 2/15/27

0.98%

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

0.91%

8) Mexican Bonos Series M 6.50%, 6/10/21

0.82%

9) Argentine Republic Government International Bond 6.875%, 4/22/21 - 1/26/27

0.78%

10) Wachovia Mortgage Loan Trust Series Series 2006-ALT1, Class A2 1.417%, 1/25/37

0.69%

Investment Type

Portfolio %

Corporates - Non-Investment Grade

Industrial

Energy

5.00%

Communications - Media

4.41%

Consumer Non-Cyclical

3.78%

Basic

3.28%

Consumer Cyclical - Other

2.85%

Communications - Telecommunications

2.85%

Capital Goods

2.00%

Technology

1.65%

Services

1.57%

Transportation - Services

1.10%

Other Industrial

1.07%

Consumer Cyclical - Automotive

1.02%

Consumer Cyclical - Retailers

0.97%

Consumer Cyclical - Entertainment

0.22%

Consumer Cyclical - Restaurants

0.15%

Transportation - Airlines

0.10%

SUBTOTAL

32.02%

Financial Institutions

Banking

4.04%

Finance

1.02%

Insurance

0.39%

Other Finance

0.36%

Brokerage

0.14%

REITS

0.05%

SUBTOTAL

6.00%

Credit Default Swaps

1.97%

SUBTOTAL

1.97%

Utility

Electric

1.21%

Natural Gas

0.02%

SUBTOTAL

1.23%

SUBTOTAL

41.22%

Global Governments

15.06%

Collateralized Mortgage Obligations

Risk Share Floating Rate

9.15%

Non-Agency Fixed Rate

1.75%

Non-Agency Floating Rate

1.11%

SUBTOTAL

12.01%

Interest Rate Futures

8.25%

Corporates - Investment Grade

Industrial

Basic

0.97%

Technology

0.56%

Energy

0.52%

Communications - Telecommunications

0.50%

Communications - Media

0.40%

Consumer Cyclical - Automotive

0.28%

Capital Goods

0.26%

Consumer Non-Cyclical

0.17%

Consumer Cyclical - Other

0.08%

Services

0.06%

Transportation - Airlines

0.06%

SUBTOTAL

3.86%

Financial Institutions

Banking

1.55%

Insurance

1.04%

REITS

0.60%

Brokerage

0.09%

SUBTOTAL

3.28%

Credit Default Swaps

0.92%

SUBTOTAL

0.92%

Utility

Electric

0.12%

SUBTOTAL

0.12%

SUBTOTAL

8.18%

Emerging Markets - Treasuries

7.81%

Emerging Markets - Sovereigns

7.05%

Commercial Mortgage-Backed Securities

Credit Default Swaps

4.00%

Non-Agency Fixed Rate CMBS

2.20%

Non-Agency Floating Rate CMBS

0.16%

SUBTOTAL

6.36%

Interest Rate Swaps

4.74%

Total Return Swaps

3.81%

Emerging Markets - Corporate Bonds

Industrial

Energy

1.02%

Basic

0.74%

Consumer Non-Cyclical

0.50%

Communications - Telecommunications

0.43%

Capital Goods

0.27%

Consumer Cyclical - Other

0.16%

Transportation - Services

0.15%

Consumer Cyclical - Retailers

0.07%

Technology

0.05%

Transportation - Airlines

0.04%

Other Industrial

0.04%

SUBTOTAL

3.47%

Financial Institutions

Banking

0.29%

Finance

0.05%

SUBTOTAL

0.34%

SUBTOTAL

3.81%

Bank Loans

Industrial

Technology

0.59%

Consumer Non-Cyclical

0.58%

Consumer Cyclical - Retailers

0.40%

Consumer Cyclical - Other

0.33%

Capital Goods

0.31%

Energy

0.24%

Other Industrial

0.19%

Communications - Telecommunications

0.13%

Services

0.09%

Consumer Cyclical - Entertainment

0.08%

Basic

0.08%

Consumer Cyclical - Automotive

0.07%

SUBTOTAL

3.09%

SUBTOTAL

3.09%

Common Stocks

1.39%

Asset-Backed Securities

Home Equity Loans - Fixed Rate

0.65%

Other ABS - Fixed Rate

0.63%

Autos - Fixed Rate

0.06%

Home Equity Loans - Floating Rate

0.03%

SUBTOTAL

1.37%

Preferred Stocks

Industrial

0.75%

Financial Institutions

0.30%

Utility

0.03%

SUBTOTAL

1.08%

Inflation-Linked Securities

0.76%

Local Governments - Regional Bonds

0.53%

Whole Loan Trusts

Performing Asset

0.49%

SUBTOTAL

0.49%

Local Governments - US Municipal Bonds

0.46%

Equity Futures

Equity Index Futures

0.32%

SUBTOTAL

0.32%

Quasi-Sovereigns

Quasi-Sovereign Bonds

0.27%

SUBTOTAL

0.27%

Currency Instruments

Forward Currency Exchange Contracts

0.24%

SUBTOTAL

0.24%

Investment Companies

Funds and Investment Trusts

0.17%

SUBTOTAL

0.17%

Collateralized Loan Obligations

CLO - Floating Rate

0.11%

SUBTOTAL

0.11%

Warrants

0.03%

Options Purchased - Calls

Options on Forward Contracts

0.01%

SUBTOTAL

0.01%

Options Purchased - Puts

Options on Forward Contracts

0.01%

SUBTOTAL

0.01%

Call Options Written

-0.01%

Put Options Written

-0.33%

Reverse Repurchase Agreements

-5.02%

Net Cash Equivalents

Investment Companies

0.90%

Emerging Markets - Sovereigns

0.48%

Governments - Treasuries

0.23%

Cash

-0.29%

SUBTOTAL

1.32%

Derivative Offsets

Futures Offsets

-8.62%

Swaps Offsets

-15.97%

SUBTOTAL

-24.59%

Total

100.00%

Country Breakdown

Portfolio %

United States

60.49%

Brazil

5.47%

Mexico

3.49%

Argentina

3.21%

United Kingdom

2.84%

Turkey

2.54%

Indonesia

1.64%

Luxembourg

1.56%

Canada

1.43%

Dominican Republic

1.23%

France

1.19%

Italy

1.12%

Ireland

1.06%

Egypt

0.92%

Colombia

0.81%

Switzerland

0.79%

Russia

0.77%

Spain

0.69%

South Africa

0.60%

Sri Lanka

0.59%

Ivory Coast

0.52%

Netherlands

0.50%

Ukraine

0.47%

Malaysia

0.44%

Cayman Islands

0.39%

Jamaica

0.39%

India

0.35%

Germany

0.33%

United Arab Emirates

0.30%

Zambia

0.28%

Venezuela

0.27%

Ecuador

0.27%

Gabon

0.24%

Mongolia

0.19%

Norway

0.17%

Angola

0.17%

Guatemala

0.16%

Sweden

0.14%

Bahrain

0.14%

El Salvador

0.14%

Trinidad & Tobago

0.13%

Israel

0.12%

Senegal

0.12%

Pakistan

0.12%

Uruguay

0.12%

Cameroon

0.11%

Macau

0.11%

Nigeria

0.09%

Honduras

0.09%

Peru

0.08%

New Zealand

0.06%

Australia

0.06%

Kenya

0.06%

Iraq

0.05%

Jordan

0.05%

Finland

0.05%

Ethiopia

0.05%

China

0.04%

Lebanon

0.04%

Hong Kong

0.04%

Chile

0.04%

Jersey (Channel Islands)

0.02%

Belarus

0.02%

Serbia

0.02%

Portugal

0.01%

Total Investments

100.00%

Net Currency Exposure Breakdown

Portfolio %

United States Dollar

99.26%

Brazilian Real

2.34%

Indonesian Rupiah

1.96%

Argentine Peso

1.65%

Norwegian Krone

1.56%

Polish Zloty

1.52%

Mexican Peso

1.12%

Hungarian Forint

1.01%

Russian Rubles

1.00%

New Turkish Lira

0.86%

Egypt Pound

0.71%

Euro

0.65%

Dominican Peso

0.47%

Malaysian Ringgit

0.47%

Sri Lankan Rupee

0.46%

Colombian Peso

0.42%

Peruvian Sol

0.25%

Uruguayan Peso

0.12%

Indian Rupee

0.01%

Australian Dollar

-0.06%

South African Rand

-0.51%

Swedish Krona

-0.53%

New Zealand Dollar

-0.55%

Canadian Dollar

-0.63%

Chinese Yuan Renminbi (Offshore)

-1.00%

Taiwan New Dollar

-1.01%

Great British Pound

-1.95%

Israeli New Shekel

-2.00%

South Korean Won

-2.05%

Swiss Franc

-2.57%

Japanese Yen

-2.98%

Total Net Assets

100.00%

Credit Rating

Portfolio %

AAA

9.27%

AA

0.98%

A

4.42%

BBB

15.45%

BB

30.97%

B

26.45%

CCC

6.78%

CC

0.56%

C

0.12%

D

0.34%

Not Rated

6.33%

Short Term Investments

1.62%

Reverse Repurchase Agreements

-5.02%

N/A

1.73%

Total

100.00%

Bonds By Maturity

Portfolio %

Less than 1 year

5.23%

1 to 5 years

42.02%

5 to 10 years

36.15%

10 to 20 years

9.32%

20 to 30 years

4.89%

More Than 30 years

0.97%

Other

1.42%

Total Net Assets

100.00%

Portfolio Statistics:

Average Coupon:

7.29%

Average Bond Price:

104.02

Percentage of Leverage(based on gross assets):

Bank Borrowing:

0.00%

Investment Operations:

41.76%

Preferred stock:

0.00%

Tender Option Bonds:

0.00%

VMTP Shares:

0.00%

Total Fund Leverage:

41.76%

Average Maturity:

7.03 Years

Effective Duration:

5.01 Years

Total Net Assets:

$1,207.91 Million

Net Asset Value:

$14.01

Number of Holdings:

1347

Portfolio Turnover:

48%

* 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.

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SOURCE AB Global High Income Fund, Inc.

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